Asia's tech news, weekly: October 24th 2023
China's space-ground laser data, Philippines military gets cyber, Singapore-Saudi fintech, India's 3D-printed rocket engine, Laos gets e-taxis, Seoul's $3.7BN fund...
• South Korea: Gyeonggi gov't announces Pangyo Tech Valley-centered growth, sights on 660K square meters of business space in more than 20 regions, and support for 3000 startups by 2026
• Hong Kong Science & Tech Park inks MOU with China's J2 Semiconductor, aiming for R&D hub for 3rd-gen semiconductors and silicon carbide 8-inch advanced wafer production
• China: CGST satellite firm claims 10GB per second data transfer from space to ground via laser; now with sights on 40-100Gbps and multiple ground stations
• Australia: Boundary Power launches trial of standalone power system using solar power and renewable hydrogen hydride battery to store and generate on-demand electricity
• Philippines military is now building out a 'cyber command' to boost defense against cyber attacks
Cybercrime & AI: "AI-enabled tools had been simplifying enacting scams, automating refining targets, and increasing scalability with a crop of new crimes..."
• Australia: Pacific Rim Strategic Policy Conference set for November 29-December 1st in Canberra, with the theme 'International Security and the Rise of Autonomous Weapons'
• Japan: ispace gains gov't subsidy approaching $80M with moon lander mission set for 2024 and NASA-sponsored moonshot to commence in 2026
• Monetary Authority of Singapore and Saudi Central Bank ink MOU around cooperation in fintech and innovation, alongside separate agreement to boost investment between the two states
• Five Eyes network officials - US, UK, Canada, Australia & NZ - raise range of tech threats, attacks & manipulations arising from China in Silicon Valley visit
• India: Agnikul space-tech startup secured $26.7M Series-B with 3D-printed rocket engine, hybrid fuel and launch vehicle focused on small satellite payloads
• Taiwan's Foxconn partners NVIDIA for AI-focused tech moves across a range of applications
• South Korea: Seoul city gov't launches $3.7BN ‘Seoul Vision 2030 Fund’ to build and boost the country's startups and scale-ups
• Vietnam's Green & Smart Mobility to launch Green SM e-taxi service in Laos with 1000 electric cars produced by Vinfast
• Taiwan: Taipei Gov't moves to lift data security, finding 19 municipal offices using biometric attendance devices made or assembled in China and Thailand
• India: Taiwan's Acer hardware and electronics brand launched its first e-scooter for the Indian market, featuring swappable batteries and 80km range
'...Myanmar’s Ministry of Immigration and Population sent data collectors across the country to obtain fingerprints, iris, and face biometrics and other personal information from citizens of 10 years and older, as well as foreign nationals living in the country.'
• Myanmar: Coup leaders seek China input for biometric ID system, building on collection of fingerprints, iris, face biometrics and other personal information
• Indonesia: East Ventures launches $30M East Ventures Healthcare Fund, focusing on startups addressing challenges specific to Indonesia's healthcare sector
• Kazakhstan's Science Fund partners Singapore/China Quest Ventures to boost research commercialization and startup growth
• Applications for the evokeAG 2024 Startup Program close October 23rd, seeking agri-tech and food-focused solutions
• China: Baichuan AI firm from Sogou search engine founder raised $300M from backers including Alibaba and Tencent
• Vietnam: Vulcan Augmetics robotic prosthetics developer gains seed funding from Singapore-based VC, Quest Ventures, with plans for AR and VR systems development
• Philippines: Packworks partners Cebuana Lhuillier and 1Sari Financing Corp to provide sari-sari mom-and-pop stores with access to secure and affordable microloan services
• Indonesia: GoTo Financial and Bank Jago partner for 'GoPay Tabungan by Jago' e-banking service, with sights on Indonesia's unbanked population of over 97 million
• A quick look at the tech startup winners from Expand North Star Dubai's 2023 Supernova Challenge, including overall winner from Singapore, Accredify, a blockchain-based verification firm
• South Korea: Posco Holdings conglomerate leads investment in EnergyX lithium tech firm, looking for more efficient ways to produce the battery metal for green energy transition use
"Foxconn's founder Terry Gou is running as an independent candidate in Taiwan's presidential election that is due to take place in January."
• Taiwan's Foxconn hit with apparent economic coercion via tax audits and land use probes in China, likely a response to Foxconn founder standing for election
• Vietnam: A snapshot overview of tech moves the country is making, with sights on developing a workforce of 50000 semiconductor engineers by 2030
• A brief intro to food-tech startups working on microalgae protein alternatives, leveraging the additional benefit of Omega-3s
• Airwallex, Australia-founded, Singapore-HQd fintech major, to enter Lat-Am markets with acquisition of Mexico's MexPago, with sights on global payments infrastructure
• Thailand's HydroNeo partnered by Norway's Full Circle Biotechnology for high-protein, low-carbon additive for aquaculture feeds using black fly larvae and microbes
• Taiwan: New Jersey Asia-Pacific Center to open in Taipei in 2024, marking the US state's first full-time presence in the region, in bid to grow economic, academic and cultural ties
• Philippines: Singapore-based UNO Digital Bank partners Collabera Digital to expand user base with development of mini-app for GCash, Filipino financial and lifestyle super-app
• Bangladesh: Huawei adds to country presence with second edition of Huawei ICT Competition for undergrad students, further growing the competition's global footprint
• Indonesia: Stilt Studios raised $10M Series A with sustainably-produced prefabricated modular homes, with sights on Australia as first growth market
• Xpanceo raised $40M from Hong Kong's Opportunity Ventures to develop computing devices in the form of smart contact lenses
"...[Xpanceo] prototypes cover three categories of usage. These are a lens that allows for night vision and 3D; a lens that offers measurement and precision vision (for example for clinical use); and a holographic lens for augmented reality experiences."
• Philippines: Military orders personnel to stop using AI apps due to security risks including fake identity creation
• China: Jianghui Automobile Group, key contract automaker supplier for major Nio EV firm, to sell 2 factories
• Cambodia: An overview of the Kingdom's Fintech Policy directive 2023-2028, aiming to boost development in areas including peer-to-peer lending and crowdfunding
• Philippines: IdeaSpace incubator unveils 6 startups selected for next cohort, working on solutions in education-tech, spice industry digitization & more
Philippines: A video intro to Ideaspace Foundation startup enabler
• Startup World Cup's Australia Regional Competition is set for November 15th, hosted by Uni of Queensland, with applications to pitch closing November 9th
• Cambodia Digital Awards 2023 are now open for nominations, supported by Smart Axiata, Huawei and CBRD Fund
• Indonesia: Minister of Communication & Info issues warning to Meta around online gambling content, with Minister demanding immediate removal
• Australia: An intro to 8 Australian startups that collectively raised $433M in the past week
In wider-world technology news:
» Rather than address X's legal compliance with Digital Services Act, Elon Musk is reportedly instead considering blocking European Union users
» Israel orders freeze and seizure of 100 Binance accounts over financing for Hamas, with info requested on near 200 other accounts, most also on Binance
» Bloomberg Philanthropies unveils City AI Connect for mayors to trial, generative artificial intelligence platform aiming to help improve public services
» Sumsub releases free-to-use 'For Fake’s Sake', four machine learning-driven models for deepfake and synthetic fraud detection
» Publishers including Universal Music sue Anthropic AI firm for using and distributing unlicensed, copyrighted lyrics
» X, formerly Twitter, rolls out $1 annual fee for new users in New Zealand and the Philippines, with Elon Musk claiming the subscription trial is aimed at combating bots
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Note: Due to the ongoing Twitter/X devolution, our daily mobile app updates are on hold.