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Articles about early-stage companies; pre-IPO, including those still being funded by angel investors, private equity or venture capitalists.
last updated:
9 September, 2024
The absence of a robust series of funding escalators – from Series A to C, leading to trade sales or IPOs – risks producing numerous start-ups with innovative ideas but lacking commercially viable products. Photo: Shutterstock
Hong Kong economy

Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding

With venture capital and IPO growth weak globally, start-ups should aggressively seek international commercialisation, leverage marketing strategies and connect with power players overseas.

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Asean

Opinion | How Southeast Asia can become the next AI powerhouse

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Artificial intelligence

Chinese-owned Character.ai rival vanishes from US App Store

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Artificial intelligence

Chinese start-up Zhipu AI adds US$412 million to war chest in crowded market

Zhipu said it doubled its revenue year on year in the 11 months to November, without providing an exact figure.

Visitors seen in front of the Zhipu AI booth at the World Artificial Intelligence Conference in Shanghai earlier this year. Photo: Handout
Robotics

Ex-OpenAI engineer launches robotics start-up amid China’s race to boost industry

Light Robotics, which has set up offices in Shenzhen and Singapore, will focus on consumer-facing companion robots.

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China's economic recovery

China touts ‘bold capital’ to coax risky plays amid waning investor confidence

Concept of ‘bold capital’ has emerged amid national efforts to improve policy environment for investors that both encourages and forgives their attempts.

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E-commerce

Shein’s UK IPO slowed by challenge from Uygur NGO alleging Xinjiang cotton use

Britain’s Independent Anti-Slavery Commissioner has also raised concerns over allegations about the fast-fashion firm’s labour practices.

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Shein is facing hurdles in its pursuit of a London IPO in part because of allegations about its China sourcing and labour practices. Photo: Reuters
Artificial intelligence

After OpenAI’s Sora launch, Adobe is falling behind with its AI video roll-out

Two months after Adobe announced a browser-based video generation tool, the product remains in limited testing, while OpenAI publicly launched Sora this week.

Artificial intelligence

Chinese AI start-up Baichuan loses co-founder in latest industry shake-up

The departure of Hong Tao, who was pivotal to early monetisation efforts, comes after high-level departures at rival start-ups such as 01.AI and Moonshot AI.

Artificial intelligence

Moonshot AI founder’s dispute with 5 investors up for arbitration in Hong Kong

The five firms that invested in Moonshot AI founder Yang Zhilin’s last venture, Recurrent AI, claim he has ‘uncleared liability’.

Moonshot AI founder Yang Zhilin. Photo: Future Publishing via Getty Images
Hong Kong economy

Editorial | Hong Kong is counting on innovative investment

The HKIC has funded 80 start-ups and projects. These deals have come at a critical time for the city as it builds itself up as a hi-tech centre.

Hong Kong is counting on investment. Photo: Shutterstock
Artificial intelligence

Chinese AI firms rush out costly ‘reasoning’ models to take on OpenAI’s o1

Alibaba Cloud is the latest among a slew of Chinese firms to roll out the AI models that take more time to reason through maths and programming queries.

Artificial intelligence

Tsinghua University-fostered start-up to widen test of AI-based virtual hospital

The Agent Hospital developed by Tairex, formed under Tsinghua’s Institute for Al Industry Research, will conduct public tests next year.

Banking & finance

Hong Kong government invests in 80 start-ups as war chest swells

Flush with proceeds from the city’s successful investment-migration scheme, HKIC puts money in local, mainland and overseas start-ups.

A robot performs in a demonstration at a launch ceremony for an investment by Hong Kong Investment Corp in Beijing-based Galbot, at Island Shangri-La on July 19, 2024. Photo: Dickson Lee
IPO

A Chinese recycling that aims to replicate its success overseas

The company, which operates an online platform connecting individuals and businesses with recycling services, plans to expand globally.

A Chinese labourer sorts out plastic bottles for recycling in Dong Xiao Kou village on the outskirts of Beijing. Photo: AFP
Biomedicine: Companies

Hong Kong start-up eyes global pest control market with scent-based products

Plasticvore is a two-year old biotech start-up offering alternative, humane solutions to controlling and eliminating pests, founder says.

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Robotics

Chinese start-up wants to replace human chefs with robots

Cooking robots can help restaurants cut labour costs by 30 per cent, and reduce food and seasoning waste by 10 per cent.

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Artificial intelligence

Video of a robot leading a mass escape draws laughs and fears over AI in China

A video of a robot inciting other robots to flee an exhibition hall has gone viral in China, but the reality is less scary than it looks.

Erbai, a small robot developed by Chinese start-up Hangzhou Erbai Intelligent Technology, has “incited” bigger robots to escape from an exhibition hall at night. Photo: 我系二白 via Douyin
Artificial intelligence

Uber said to eye US$10 million stake in IPO of China’s Pony AI

The ride-hailing giant may consider using Pony AI’s autonomous-driving technology outside the US, a source says.

ByteDance

TikTok parent ByteDance offers top performers more stock options

ByteDance has adjusted its staff incentive policy for the second time this year, as Trump’s re-election boosts its valuation.

Artificial intelligence

Chinese AR start-up Rokid puts Alibaba AI in smart glasses to take on Meta

Rokid’s US$345 smart glasses are the latest from China to adopt generative AI to capitalise on the burgeoning product category.

The Rokid Glasses include a number of use cases that are aided by artificial intelligence, including real-time translation and messaging. Photo: Rokid
Business of climate change

Hong Kong start-up develops AI-powered smart bin to tackle recycling

Green AI’s smart collection bin can sort waste into four categories – plastic bottles , aluminium cans, drinks cartons and general refuse.

Cola Lam, CEO of Green Al Technology, gives a demonstration of the smart sorting bin at the company’s offices at Hong Kong Science Park in Sha Tin. Photo: Edmond So
China trade

Why are Chinese robots cleaning up in America’s backyards?

Manufacturers of robotic pool cleaners seek to emulate China’s electric vehicle success story while keeping an eye on tariff threats.

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Hong Kong

Vaccine shows promise in curing HIV, Hong Kong start-up says

‘We may be on the brink of a breakthrough,’ Dr Edward Leong, advisory board chairman of Immuno Cure says.

SCMP Highlights

Recap | ByteDance AI becomes China’s No 1, AMD cuts jobs in Nvidia battle and more tech stories

In our latest future tech news, ByteDance’s Doubao is beating competitors in China, AMD moves to focus on AI chip market and OpenAI urges US collaboration against China.

Doubao, a ChatGPT-like conversational bot developed by TikTok owner ByteDance, has emerged as the most popular AI app for Chinese consumers. Photo: Reuters
Artificial intelligence

OpenAI wants US to team up with allies to beat China in AI race

The ChatGPT maker says the US and its neighbours should collaborate in AI and expand their partnership to include Middle East nations.

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OpenAI is urging the US to partner with allies on AI to take on China. Photo: AP
Semiconductors

China’s chip start-up taking on Nvidia kicks off pre-IPO process

Moore Threads has hired Citic Securities to start the ‘tutoring’ process as it seeks to capitalise on enthusiasm in China’s semiconductor industry.

SCMP Highlights

Recap | Trump’s return threatens Chinese EV makers, an AI talent war and more tech news

The global expansion of biotech firms is another story the SCMP has been covering in the realm of future tech recently.

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