Category: Startups

CleverTap partners with Zoomcar to drive customer engagement on their app

CleverTap, the all-in-one engagement platform, today announced its partnership with Zoomcar, the leading marketplace for car sharing in emerging markets, to elevate user engagement and drive business growth. This strategic partnership will help Zoomcar elevate its customer engagement strategy by crafting personalized interactions that resonate with individual preferences and needs.

Through real-time insights Zoomcar will be able to truly understand user behaviors and preferences, further facilitating targeted re-engagement campaigns and win-back offers. With a keen focus on enhancing user retention and engagement, Zoomcar will be able to foster long-lasting customer relationships and ultimately maximize customer lifetime value. 

This partnership will enable Zoomcar to craft personalized campaigns, conduct A/B testing, and optimize omni-channel experiences. Zoomcar will be able to promote specific car models, rental packages, enhance overall campaign effectiveness, maximize bookings and revenue, and connect seamlessly with users across channels. This holistic approach aims to not only increase traffic at the top of the funnel but also to improve reachability and deliver personalized messages to a larger volume of users.

Through this partnership, CleverTap and Zoomcar aim to achieve: 

  • Improved Retention
  • Enhanced User Stickiness
  • Elevated User Engagement and Conversions
  • Increased Monthly Active Users (MAU)
  • Higher Deliverability Rate

Greg Moran, CEO and co-founder Zoomcar said, “Zoomcar’s customers look for convenient and independent self drive travel options with a growing need for personalized communication with custom recommendations of car options that cater to their various needs. With CleverTap, we aim to bridge the gap and deliver quick, relevant and personalized communication to drive higher engagement and conversions.”

Sidharth Pisharoti, Chief Revenue Officer, CleverTap said, “Zoomcar has been a prominent player in India’s self drive car sharing landscape for years, shaping how Indians experience the convenience of on-demand transportation. We’re excited to be partnering with them to help elevate their customer engagement. Through our cutting-edge platform, we will deliver unparalleled hyper-personalized experiences, contributing to their sustained business growth. Together, we will bring innovation and convenience to the forefront of the industry.”

About CleverTap
CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, and Jakarta.

For more information, visit clevertap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap/ 
X: https://twitter.com/CleverTap 

About Zoomcar
Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing focused on emerging markets. The Zoomcar community connects hosts with guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in growing markets.

Forward-Looking Statements
Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:
SONY SHETTY
Director, Public Relations, CleverTap
+91 9820900036
sony@clevertap.com 

IPSHITA BALU
Consultant, Archetype
+91 9590111798
ipshita.balu@archetype.co

HKTDC’s major focus areas promote Hong Kong’s advantages

  • Boosting diverse economic development and reinforcing the city’s role as a global business and C&E hub

The Hong Kong Trade Development Council (HKTDC) today announced its major focus areas for 2024-2025, which strengthen Hong Kong’s status as a leading global business and investment hub and convention and exhibition (C&E) centre. The HKTDC is committed to promoting Hong Kong’s advantages internationally and creating opportunities for Hong Kong businesses.

HKTDC Chairman Dr Peter K N Lam said: “With the record-breaking attendance at our Asian Financial Forum (AFF) in January, it is clear that international business leaders and investors have returned to Hong Kong. Looking ahead, we will further consolidate Hong Kong’s status as an international financial, trade and international C&E centre and promote Hong Kong’s strengths internationally. We will redouble our efforts to highlight Hong Kong’s unique role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and further integrate into the overall development of Mainland China, while actively exploring other rapidly growing markets, such as ASEAN and the Middle East. We will also continue to focus on the key growth drivers of innovation, sustainability and wellness.”

Since full reopening in March 2023, the HKTDC has stepped up efforts to attract business people across the globe to return to Hong Kong, and the Council’s trade events have welcomed visitors from Asia, the Middle East to Africa and Europe to the Americas, reinforcing Hong Kong’s position as a business and investment hub.  

Last year, we staged some 40 major events, attracting over 22,000 exhibitors and over 430,000 physical buyers and participants from Hong Kong, the mainland and around the world, with particularly notable growth in visitors from Mainland China, ASEAN and the Middle East. Indeed, exhibitor and buyer participation at last year’s HKTDC trade fairs has returned to 70-80% of pre-pandemic levels, with some even reaching 90%. Our anchor conferences, such as the AFF and the Belt and Road Summit, also attracted record-breaking attendance and strong international participation.

HKTDC’s 2024-2025 major work focus is:

1. Strengthen Hong Kong’s position within the GBA and its integration into national development

  • The HKTDC will open two new GBA business support centres in Huizhou and Zhaoqing in March. With these additional centres, we will have a physical presence in all mainland GBA cities to provide stronger on-the-ground support to businesses that are interested in tapping GBA opportunities.
  • Version 2.0 of the HKTDC’s offline and online business support programme GoGBA will be launched to provide more comprehensive support for businesses keen to access the GBA. It will include a five-in-one support plan for different industries, comprising seminars, group and one-on-one consultations, GBA business visits and industry information kits.
  • We will enhance the promotion of infrastructure and real estate services (IRES), legal and other professional services and arrange trade delegations to mainland GBA cities to facilitate collaboration.
  • We will stage SmartHK in Nanjing to boost collaboration between Hong Kong and Yangtze River Delta in trade, innovation and green finance.
  • The HKTDC will launch a new innovation and technology (I&T) zone at the Hong Kong Services Pavilion at the China International Import Expo in Shanghai to promote Hong Kong’s I&T strengths.
  • We will expand product offerings at the Hong Kong Pavilion at the China International Consumer Goods Expo in Hainan to cover niche sectors in high demand.

2. Connect Hong Kong with opportunities in RCEP and beyond to reinforce Hong Kong’s status as a resilient and connected business hub

  • HKTDC’s mega promotion Think Business, Think Hong Kong will be held in Jakarta, Indonesia to showcase Hong Kong’s world-class services.
  • We will launch a Hong Kong Professional Plus campaign to help local service providers understand the ASEAN market and seize opportunities.
  • A fundraising roadshow to ASEAN or the Middle East will be organised to connect corporates with imminent fundraising needs and reinforce Hong Kong’s role as a fundraising hub.
  • We will also lead a delegation to the Middle East to help Hong Kong IRES providers strengthen ties with their Middle Eastern counterparts.
  • The HKTDC will launch the New Market Navigator Series, which consists of exploratory study missions and participation in trade fairs in targeted regions to highlight Hong Kong’s competitive edge across industries.
  • In terms of the ASEAN market, we will stage a Hong Kong product showcase at the FHA-HoReCa in Singapore, one of the largest events in Asia in the sector. For the Middle East market, we will participate in regional trade fairs, such as Gifts & Lifestyle Middle East. Partnerships with relevant industry associations will be explored to arrange missions consisting of company visits, business matching meetings and networking.

3. Accelerate the development of Hong Kong’s pillar and new sectors with a focus on I&T, sustainability and wellness

  • The HKTDC will continue to facilitate international cooperation through signature events, such as Think Business, Think Hong Kong in overseas markets and AFF, Belt and Road Summit and Eco Expo Asia, to highlight Hong Kong’s role as an international centre for green finance and greentech.
  • An ESG seminar series will be launched at our anchor fairs to address the needs of different industries transitioning towards a more sustainable, low-carbon future.
  • The HKTDC will strengthen deal-making at AFF and target projects related to agritech, food tech, greentech, renewable energy and climate change mitigation, working closely with the Hong Kong Green Finance Association.
  • We will deepen collaboration with R&D and innovation centres of Hong Kong-based universities to promote technology commercialisation with a focus on healthtech.
  • The HKTDC will collaborate with start-up communities across Asia to position the Start-up Zone at HKTDC’s exhibitions as the ideal launchpad for start-ups to showcase their products and solutions.
  • Following last year’s introduction of a new ESG stream within the HKTDC’s Transformation Sandbox (T-box) business support programme, we will continue to expand T-box’s partnerships with global technology companies to support SMEs’ digital transformation.

4. Reinforce Hong Kong’s role as a global business hub and a C&E centre

  • The HKTDC will stage some 40 large-scale international exhibitions and conferences, ranging from Eco Expo Asia and InnoEx to AFF and Asia Summit on Global Health.
  • We will enrich the experience of business visitors by working with partner organisations to organise mega events around our anchor trade exhibitions and conferences. The linking of the Asian Financial Forum and the Standard Chartered Hong Kong Marathon in January this year was a good example.
  • We will debut two new trade fairs, DeLuxe PrintPack Hong Kong and Smart Lighting Expo, in April to meet market demand and facilitate opportunities in these industries.
  • We will continue to enhance the digital offerings of our exhibitions and conferences to provide a seamless online-to-offline experience for our participants and champion Hong Kong as a leader in innovation and digital transformation in the C&E industry.

Media enquiries
HKTDC’s Communications & Public Affairs Department:
Agnes Wat, Tel: (852) 2584 4554, Email: agnes.ky.wat@hktdc.org
Sam Ho, Tel: (852) 2584 4569, Email: sam.sy.ho@hktdc.org

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

CleverTap Report: eCommerce businesses employing real-time personalization see 7x more purchases than those who don’t

CleverTap, the all-in-one engagement platform, today released its industry data-science report ‘Navigating Personalization: A Balancing Act for eCommerce’ showcasing the importance of tailored personalization strategies across various eCommerce applications. The findings are based on a detailed analysis of 500,000 messages across 43 global eCommerce businesses. 

CleverTap found that eCommerce businesses leveraging use-case based personalization strategies saw 6x more purchases than the industry average, and 7x more purchases than businesses relying on blanket, one-size-fits all personalization strategies. This, alongside the various other insights within the report will help eCommerce marketers drive organic conversions and higher app activity. 

CleverTap assessed personalization via three channels – email, push notifications, and in-app messages. The report establishes the 4 levels of personalization (L1 – L4) and advocates for an optimal blend across different levels to maximize results. These four levels of personalization from least to most personalized are: 

  • L1: Tailors recommendations and promotions based on demographic data, ensuring relevance for distinct customer segments. 
  • L2: Delves into behavior-based segmentation, crafting messages from past customer actions.
  • L3: Predicts preferences and intent, tailoring content and offers accordingly.
  • L4: Leverages real-time data, triggering immediate, highly relevant messages based on current behaviors and events

The report discovered that businesses with higher levels of personalization tend to have better business outcomes. It categorized these businesses into three groups —

Striving: Businesses that use limited personalization with higher send frequencies.

Steady: Businesses that use a high degree of personalization but have lower send frequencies. 

Stellar: Businesses that use a high degree of personalization and optimal send frequencies.

Striving businesses, on average, sent 22 messages to users every week with minimal (L1) personalization, leading to them underperforming the industry benchmark by 77%. 

Steady businesses overlooked L1 personalization; underestimating the power of simple demographic personalization which limited engagement at the generic level. But by prioritizing more advanced levels of personalization (L2 and L4) they outperformed industry benchmarks by 74%. 

Stellar businesses adopted the optimum blend of all four personalization levels, with an emphasis on L4, outperforming the industry benchmark by 500%. Compared to striving businesses, they achieved nearly 7x more purchases. 

Stellar businesses used L1 personalization to successfully promote large-scale events that impacted the customer base at large. Simultaneously, through more granular levels of personalization, they were able to guide customers towards subsequent conversion events. These stellar businesses prioritize behavior-based and real-time messaging over activity-based communication. This approach minimizes intrusive messages following specific customer activities and, instead, focuses on nudging customers only when behaviors of intent are shown.

“When it comes to personalization, often businesses can be myopic in their decision-making – thinking personalization of any shape or form will help achieve the lofty goals they set,” said Jacob Joseph, VP – Data Science, CleverTap. “While it’s true that some personalization is better than none, over-relying on any one type of personalization will deliver subpar results compared to businesses with a more holistic approach. With a strategic mix of personalization techniques eCommerce businesses can overperform industry benchmarks by 6x; elevating their brands from striving or steady to stellar status.”

About CleverTap

CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.

The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.

CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.

Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, and Jakarta.

For more information, visit clevertap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap  
X: https://twitter.com/CleverTap 

Forward-Looking Statements

Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:
SONY SHETTY
Director, Public Relations, CleverTap
+91 9820900036
sony@clevertap.com 

IPSHITA BALU
Consultant
Archetype
+91 95901 11798
ipshita.balu@archetype.co 

Five tips for small business owners to help grow their business online

Small businesses are embracing digitalization and catering to their customer needs through a variety of online channels. With new technologies emerging such as artificial intelligence, there is no time like the present to help your small business grow by taking advantage of the online world.

A GoDaddy 2023 global survey examined the status of small businesses including their ways to reach customers and survive in highly competitive markets. APAC countries surveyed, including Philippines, Singapore and Thailand, showed use of a business website, online store, ecommerce or a combination of them ranking at 57% of survey respondents. These results support having a strong online presence with multiple complementary channels can be vital for businesses to thrive and grow in today’s competitive digital environments.

With this in mind, GoDaddy shares five tips to help your small business grow with an online presence.

It starts with a domain name

When getting started, check availability of domain names for the desired name. A domain name can be considered a business’ piece of real estate and identity on the internet. It is a way for customers to easily find a business online.

Choosing and registering a domain name for your business that’s memorable is increasingly important in an expanding digital marketplace, as it helps to shape your online business identity. If the .com extension is not available, there are many new extensions available, such as: .shop; .co.; .photography; .tech, to name a few, for you to consider which can help define your business.  After choosing a domain name register it with a reliable hosting provider right away.

Build a website 

Websites help create visibility for small businesses and acts as a home base for your business on the internet, even if you have a brick-and-mortar store.  A website can help consumers easily find your business, learn about your product offerings and services, and contact you for more information.

A well-designed professional looking website can offer an engaging customer experience with the use of text along with photo images and video.  Having a website gives you control over the messaging about your business and can serve as a hub by linking with your social media channels.

Listen to your customers

The growth of your business is directly related to customer satisfaction. Listen to your customers and pay attention to the needs of your target market. Identify their problems and pain points. How can your offerings act as a solution? Is it possible to develop new products to help solve these problems?  Engage for customer feedback and keep an eye on customer behaviour changes and audience interests.

Develop a business support system

By developing a strong business support system, entrepreneurs can benefit from new ideas on ways to address a particular issue or ideas for growth. In addition to close family and friends, consider mentors and business coaches who can provide relevant insights into your business.

Review your business plan

Many entrepreneurs make a business plan at the beginning of their business journey, but do not take the time to revisit it from time-to-time. So, analysing aspects of that business plan like target audience and competitors, examining cash flows and what can make the business profitable, while also checking timelines to reach business goals is all equally essential to help ensure continued growth of your business.

For more information on how GoDaddy can help your small business: Domain Names, Websites, Hosting & Online Marketing Tools – GoDaddy PH

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online. GoDaddy’s easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.godaddy.com .

The 17th Asian Financial Forum concludes successfully

Over 3,600 policymakers and business leaders drawn to the showcase for Hong Kong’s vibrant economy

  • The 17th AFF concluded today, attracting over 3,600 policymakers and business leaders from more than 50 countries and regions who actively joined vibrant discussions, fostering sustainable development and multilateral cooperation and showcasing Hong Kong’s vibrant economy, setting the stage for conferences and exhibitions in the new year
  • The Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities in various industries
  • The AFF facilitated the signing of MoUs and agreements, including the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia, deepening business collaborations
  • On-site polling during the Forum showed that most participants considered the digital economy (31.4%) and electric vehicles (26.1%) the most promising industries in Mainland China

The 17th Asian Financial Forum (AFF), jointly organised by the Hong Kong Special Administrative Region (HKSAR) Government and Hong Kong Trade Development Council (HKTDC), successfully concluded today, attracting over 3,600 financial and business elites from more than 50 countries and regions, including over 70 overseas and Mainland China delegations. The Forum showcased Hong Kong’s thriving economy as participants explored opportunities, accelerated sustainable development and multilateral cooperation and launched Hong Kong’s conferences for the year.

The event was marked by a vibrant atmosphere. Various segments – including the opening session, plenary discussions, policy dialogue, keynote luncheons and cocktail reception – were well attended. Leaders from around the world actively engaged in discussions.

In just two days, the Forum arranged over 700 one-on-one meetings, successfully connecting investors with project owners and exploring opportunities for industry and investment cooperation. After the Forum’s conclusion, participants will have the opportunity to continue discussions and meetings online from tomorrow until 30 January (Tuesday).

Over the two-day physical event, the AFF brought together more than 140 policymakers, international financial and multilateral organisation representatives, financial institutions and corporate leaders from around the world as speakers.

On the first day of the Forum, Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the keynote luncheon, affirming the importance of Hong Kong as an international financial centre. He said that global cooperation could help solve problems that were even beyond our reach. He believed Hong Kong could play a full role in sustainable development financing, an increasingly important area.

One of the highlights of this year’s AFF was the Plenary Session I – Charting the Path to a Shared Future, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, bringing together financial officials from around the world to discuss economic challenges countries face. Julapun Amornvivat, Deputy Minister of Finance, Thailand, said: “The Asian Financial Forum is the place where both the public and private sectors can have honest discussions to find solutions to tackle major problems today and transform the economy for the future.” H.E. Dr Mohamed Maait, Minister of Finance, Egypt, mentioned that the world was grappling with rising geopolitical tensions and a lack of clarity about the future, weighing on the achievement of sustainable economic growth. To address global challenges, the world needed to deploy all efforts to coordinate economic policies on a multilateral scale.

On the second day, the Breakfast Panel focused on Unleashing the Dragon’s Currency: Navigating Renminbi Internationalisation on the Global Stage, allowing participants to delve into the renminbi’s growing use worldwide and trends in international demand. Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, addressed the Keynote Luncheon on the second day, which was moderated by Raymund Chao, Asia Pacific and China Chairman, PwC.

Global Spectrum, Dialogues for Tomorrow and Fireside Chat brought together pioneers from various industries to discuss a host of topical subjects, explored the latest Web 3.0 and virtual asset development, the future of fintech innovation, CIO Insights, green finance and opportunities in new markets. Speakers included Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, Dr Ma Jun, Chairman and President, Hong Kong Green Finance Association (HKGFA), Guinandra (Andra) Jatikusumo, Group Director and Chief of Investments & Business Development of CT Corp, Darmawan Junaidi, President Director, Bank Mandiri, Yat Siu, Co-Founder and Executive Chairman, Animoca Brands, and more.

Understanding prospects for mainland industries, environmental economics
To gauge participants’ views on the global economic outlook this year, the Forum conducted on-site voting during panel discussions. For instance, at the Panel Discussion on Global Economic Outlook, participants were asked about the greatest threats or uncertainties to economic growth in the Asia-Pacific. Most attendees identified geopolitical fragmentation (66.7%) as the biggest challenge, followed by a slowdown in the recovery momentum in key economies (17.7%), persistent inflation (6%), a tightened monetary environment (4.2%), continued supply chain reshaping (3.6%) and other factors (1.8%).

In the newly introduced Panel Discussion on Stewarding China’s New Chapter, participants were asked about the most promising industries in Mainland China. The digital economy took top spot with 31.4%. Electric vehicles (26.1%) and renewable energy (18.8%) followed in second and third place, respectively. Advanced manufacturing (15.8%), other industries (4.2%) and electronic devices (3.2%) ranked subsequently.

Over 700 matching sessions held on-site, online platform continues to yield results
Through the years, the Forum has played a crucial role in deepening business and trade collaboration. AFF Deal-making, a global investment project-matching event jointly organised by the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA), was well received, facilitating over 700 one-on-one meetings, connecting funds and investment projects from around the world. The founder of one of the start-ups from Thailand said he had met 20 visitors with potential deals, ranging from a family office to a legal adviser. He also commented that the geographical diversity of the visitors at Deal-making was extensive, ranging from India to Europe and Japan. The deal-making session had presented valuable opportunities to find potential business partners.

This year’s AFF also facilitated the signing of various Memorandums of Understanding (MoUs) and Agreement. These included the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and Croatia and Memorandum of Understanding between the Financial Services Development Council and Financial Sector Development Program of Saudi Arabia.

The Forum also featured exhibition zones including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone, presenting innovative solutions from international financial institutions and introducing prospective unicorns from Hong Kong and around the world. The exhibition segment brought together over 140 exhibitors, including international financial institutions, technology companies, start-ups, investment promotion agencies, and sponsors, including knowledge partner PwC, along with HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International and Cyberport.

The 2024 International Financial Week (IFW) commenced on 24 January to create synergies, bringing together over 20 partner events. These events cover a many topics of global interest to the financial and business community. They include private equity investment, alternative investments, sustainable investments, family offices and women’s empowerment, among others. These events highlight the role of Hong Kong as an international financial centre.

To seize opportunities and promote the conference and event economy, the AFF collaborated with various organisations to arrange activities for participants beyond the Forum. These activities included free admission to the Hong Kong Palace Museum, Hong Kong’s iconic Aqua Luna red-sail junk boat, TramOramic tour and open-top Big Bus arranged by the Hong Kong Tourism Board. These experiences allowed forum guests to feel at home and appreciate the vibrancy and diversity of Hong Kong.

Furthermore, to provide overseas participants with a better understanding of the Guangdong-Hong Kong-Macao Greater Bay Area and the vast business opportunities within, organisers will lead a delegation to Shenzhen tomorrow (26 January), including corporate visits and exchange activities.

Websites
Asian Financial Forum: https://www.asianfinancialforum.com/aff/

Photos Download: https://bit.ly/3SvMXru

The 17th Asian Financial Forum, jointly organised by the HKSAR Government and the HKTDC, concluded successfully, attracting over 3,600 financial and business elites who actively participated in the event, creating a vibrant atmosphere for exchanges and showcasing Hong Kong’s thriving economy
Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, addressed the Keynote Luncheon on the first day
Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, delivered insightful remarks during the Keynote Luncheon on the second day
Bob Prince, Co-Chief Investment Officer of Bridgewater Associates, an investment veteran, shared his experience in leadership transfer, markets views and investment tactics in Mainland China
The AFF Deal-making, an investment project matchmaking event organised by the HKTDC and the HKVCA, drew strong interest, facilitating over 700 one-on-one meetings and connecting funds and investment projects from around the world, involving more than 270 investors and over 560 projects
Representatives from Hong Kong and Croatia sign the Comprehensive Avoidance of Double Taxation Agreement
The Financial Services Development Council and Financial Sector Development Program of Saudi Arabia sign their MoU
The cocktail reception on the first day invited Paul Chan, Financial Secretary of HKSAR; Dr Peter KN Lam, Chairman of the HKTDC and Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC, to deliver speeches, fostering lively exchanges among guests from around the world

Media enquires

Yuan Tung Financial Relations:
Anson Wong, Tel: (852) 3428 3413, Email: awong@yuantung.com.hk
Tiffany Leung, Tel: (852) 3428 2361, Email: tleung@yuantung.com.hk
Hing-fung Wong, Tel: (852) 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Snowy Chan, Tel: (852) 2584 4525, Email: snowy.sn.chan@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

It’s 2024. Can Technology Drive a New Nigerian Economy?

  • By Emeka Orjih, Technical Adviser on International Cooperation & Finance to Uche Geoffrey Nnaji, Minister of Innovation, Science and Technology, Nigeria.

Some 20+ years ago, in what keen observers have described as a “leapfrog” and as “the telecom revolution”, Nigeria leapfrogged from 400 thousand landlines to 80 million mobile lines in months. It remains the largest singular developmental stride Nigeria has taken in its 63 years of existence. Structured mass adoption of new technology enabled Nigeria to circumvent normal step-by-step processes to arrive at its destination ahead of time, and ahead of others who were there before them in the Telecom Industry.

Nigeria's Minister of innovation, Science & Technology

Deploying similar strategies, Nigeria can achieve similar outcomes in Clean Energy and Power, and in different areas of Technology. Take  Artificial Intelligence (AI). McKinsey estimates that by the year 2030, the global AI economy will be at $16 trillion annually. (That’s larger than the entire American economy!)

So what will it take for Nigeria to stamp the AI revolution like we did in the Telecoms revolution? 
I put this question to Ray Sharma a few weeks ago over dinner in an artsy and eclectic restaurant in London’s Tech City or Silicon Roundabout. Ray is one of earth’s most aggressive Technology Venture Capitalists with successes that include Expedia and Tinder. Ray agreed with me that primarily, it will take human resource. 

Human resource is Nigeria’s abundant blessing. After India and China, Nigeria has the highest number of skilled Tech workforce in the diaspora. That’s an army waiting to be unleashed on the innovative gateway.

What about the in-country population?  A whopping 160 million youth – below the age of 35. The vast majority of whom are smart, hungry, innovative, and trainable. Such a resource wealth can catapult any nation on earth when intention and strategy align. Recruit them and funnel them into Frontier Technologies. AI. Blockchain. Robotics. IoT, and the like.

Should Nigeria unleash her potential upon the AI space, with a modest ambition to capture 0.1% of the value of that emerging industry, in just 5 years, she would have created a $16 billion a year industry. And from just AI! Add  Blockchain Technology, Fintech, IoT, Robotics, Clean Tech, Methanol and Hydrogen Production, etc, then you begin to envisage a horizon of endless possibilities.

What’s my point?
With her huge, young, smart, innovative and teachable workforce, plus a seemingly insatiable global tech market, Nigeria could create the kind of alternative national wealth and economy that will dwarf her entire budget and present economy.

Technology enables us to leapfrog, to deliver a Technology revolution, and create a new Nigeria with our international partners. 

EdenBase (with Domineum) is partnering with us to create Tech Ecosystems like it did with London Tech City and in Switzerland. We are building out manufacturing capacity for Methanol and EV lithium-ion batteries. These will lay the foundation for our proposed AI-driven Renewable Smart Mini Grids to power our Innovation Parks and Tech Cities plus trigger massive manufacturing (Additive and Green) in partnership with Germany’s IMAPS Institute for Material Applications. We are building out the BPO (and other outsourcing) industry and will partner to prepare millions of Nigerian youth for careers in diverse technology-driven spaces ranging from the soft (data, AI, blockchain, etc) to the hard (hardware skills, welding, digital production, etc). We have partnered to develop and launch the world’s first mass V2X project where we manufacture/assemble Electric Vehicles (EV), powered by Renewable Energy (RE) with bi-directional charging/discharging capabilities that enables your EV to act as a generator that powers homes or factories after performing its ‘car duties’ of ferrying you around. Now that’s what a leapfrog looks like.

Clean energy and Intelligent RE Minigrids – powering and driving manufacturing. Productive Tech ecosystems – partnering world class institutions to trigger innovative startups on scale. These will drive the unleashing of the creativity of Nigeria’s enormous, smart, innovative and youthful population. They, in turn will drive the emergence of the new Nigerian economy, independent of fossil fuels, and constructed on the altar of Innovation, Science & Technology.

In 2024, Nigeria is truly open for business – the Business of Technology, Clean Technology. Those who missed the opportunities unearthed by Nigeria’s telecom revolution some two-decades ago, now have the opportunity to get on board this boundless Tech Revolution in the largest untapped single market on planet earth.  

Is it possible to deliver these and more on scale? Can Nigeria leapfrog her way to near the front of the line in clean energy and power generation, green manufacturing and outsourcing?

You bet!
And in Nigeria’s Ministry of Innovation, Science and Technology, Minister Uche Nnaji is betting on it too.

Contact:
Emeka Orjih, MBA (Wharton), Technical Adviser on International Cooperation & Finance to the Minister of Innovation, Science and Technology, Nigeria. emeka.orjih@scienceandtech.gov.ng

The Federal Ministry of Innovation, Science and Technology, Nigeria is one of the strategic Ministries of Government with the responsibility of facilitating the development and deployment of Innovative Science and Technology to enhance the pace of Socio-economic development of the country. www.scienceandtech.gov.ng

Verofax is among the Top UAE Future100 to Positively Impact the Nation’s Future Economy!

Verofax, a leading compliance and commerce SaaS solution provider, has earned distinction as one of the top Future100 pioneering startups, selected by the Ministry of Economy and the Ministry of State for Government Development and the Future. This recognition underscores Verofax’s pivotal role in contributing positively to the UAE’s economy and enhancing its preparedness for the future.

The prestigious unveiling of the Future100 took place at the Award Ceremony hosted at the Museum of the Future, symbolizing a momentous occasion in recognizing and celebrating innovation. Future 100 has recognized Verofax for its innovative technology in decarbonizing industries and boosting the competitiveness of the country’s Industrial sectors.

H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, said “We congratulate the 100 companies that successfully made it to the final stage of the initiative’s first edition to become the best 100 companies of the future, possessing pioneering capabilities for growth and healthy competition,” Al Marri added “ We believe this is a turning point that will enable these companies to achieve more sustainable commercial success and access to regional and global markets.” 

H.E. Ohood bint Khalfan Al Roumi, UAE Minister of State for Government Development and the Future, said: “Future100 has uncovered numerous startups and scaleups venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months.” 

Over 45 evaluators and experts across different sectors evaluated the applications, conducting interviews with company officials using a predefined set of criteria. These criteria encompassed the capacity for innovative business models leveraging new technologies, the potential of the target market, the ability to engage key customers through a well-defined business plan supported by clear financial data, the feasibility of the business with a strategy for securing future financing, and consideration of the impact of environmental and social governance in both the UAE and global contexts.

Verofax’s automates compliance, traceability and verificationAs more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across the supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.

Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on the interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling thresholds are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”

Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, and commodity provenance, prevents recycling double counting, across a tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.

About Future100Future100 is a collaborative initiative between the Ministry of Economy and the GovernmentDevelopment and the Future Office, united in their mission to foster the growth of 100 pioneering startups pivotal to shaping the trajectory of the UAE’s future economy. This innovative initiative focuses on sectors of strategic importance, including space exploration, renewable energy, and emerging technology, with the overarching goal of establishing novel benchmarks for the country’s economic landscape. Beyond its immediate objectives, Future100 aspires to propel the UAE’s standing in global competitiveness, entrepreneurship, and investment rankings, thereby solidifying the nation’s position as a frontrunner in the ever-evolving landscape of innovation and economic dynamism.

About VerofaxVerofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.

For media inquiries, please contact:Wassim Merheby, CEO, VerofaxEmail: info@verofax.com

BIP Asia Forum and Entrepreneur Day shed light on innovation and tech trends

  • Helping businesses understand how IP and boost start-up collaboration

The Business of IP Asia Forum (BIP Asia Forum), jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Special Administrative Region Government (HKSAR Government), along with Entrepreneur Day (E-Day) hosted by the HKTDC, attracted more than 140 international intellectual property (IP) experts and business leaders who explored how IP and innovation enhance business growth and boost start-up collaboration.

The events, held on 7-8 December, offered a plethora of engaging activities, including forums, exhibitions, competitions, workshops and business matching, with more than 350 exhibitors from IP, innovation and technology (I&T), start-ups and sustainability taking part to network, exchange insights on the latest in IP and innovation and seize business opportunities .

More than 200 business matching meetings were held at Entrepreneur Day. The BIP Asia Forum welcomed over 2,500 participants, while E-Day attracted more than 10,000 visitors.

With IP and innovation being inextricably linked, this year’s BIP Asia Forum was organised under the theme IP & Innovation: Steering New Economic Growth. The event kicked off with a Policy Dialogue – Powering Economic Growth through a Future-ready IP Policy, where international IP experts and government representatives discussed the latest trends in IP commercialisation, the economic value it generates, related legal issues and future policy direction.

Rowel S. Barba, Chair of the Intellectual Property Rights Experts Group of the Asia-Pacific Economic Cooperation (APEC), said: “APAC economies need responsive, adaptable and future-proof IP policies to drive innovation that address environmental challenges, promote inclusivity and facilitate adaptable business practices. Collaboration between stakeholders is critical in order to create a balanced approach to IP protection. Benchmarking and identifying best practices can also ensure consistent IP protection across economies.”

Tech Firms and Experts Discuss IP UpdatesThe meteoric surge in the use of generative artificial intelligence (GenAI) has given rise to many legal issues, including copyright infringement over creative works generated by AI.

At the Forum’s Inspo Talk, legal experts discussed these legal issues and potential IP issues when engaging with the online marketplace. The conference also provided training courses for IP owners and users, covering topics such as the fundamentals of IP, IP disputes in e-commerce, copyright and design in the digital age, and trademark management.

Alongside the conference, IPHatch Asia gathered global tech pioneers to discuss their IP best practices. Previous IPHatch competition winners also shared their entrepreneurship journey.

In addition, the IP & Innovation Market gathered around 50 exhibitors showcasing over 30 innovations to further strengthen IP commercialisation and facilitate collaboration. Mr. Peng Maoxiang, Vice President of Intellectual Property Publishing House, one of the exhibitors, remarked: “The IP services industry in the Greater Bay Area is developing steadily, driven by strong demand for the industry, which is essential for business growth. Hong Kong’s IP services industry ought to be strategically positioned to draw innovators from both global and Asian markets. The city’s IP development should leverage its political, economic and industrial strengths. Events like BIP Asia, can foster an innovative environment, which is vital to promote IP development.” 

Entrepreneur Day boosts collaborationAs HKTDC’s anchor start-up event, E-Day featured over 50 industry leaders from around the world sharing their insights and experiences. Over 200 business matching sessions and networking activities were organised alongside insightful seminars. The exhibition also featured over 300 start-ups, innovation projects and start-up support services from 11 countries and regions to facilitate collaboration opportunities.

In addition, Investment NSW from Australia took part in the event for the first time and brought along nine start-ups to demonstrate healthtech, green tech and smart city tech. Furthermore, start-ups heard from GBA incubators all there is to know about establishing a business in the region.

To encourage entrepreneurship among the youth, 50 local start-ups, supported by the HKSAR Government’s Home and Youth Affairs Bureau’s Funding Scheme for Youth Entrepreneurship in the GBA, participated at E-Day.

Moongate, a Hong Kong start up offering NFT ticketing and membership solutions, joined E-Day for the first time as a Start-up Express 2023 winner. Co-Founder Peter Hui said: “As a company that started two years ago, we are happy to participate in E-Day gives us the opportunity to meet face-to-face with business partners, attract potential investors as well as showcase our services. We connected with a venture capitalist who is interested in our market potential as one of the world’s top three NFT ticketing platforms. We are hopeful that it would be the first step towards securing potential investment.”

A venture capitalist from India, who serves clients from Saudi Arabia and Dubai, visited E-Day to source innovative tech solutions. He was particularly interested in a couple of start-ups offering sustainable solutions using robotics and innovative building materials that have market potential. He remarked that he was pleased that E-day provided the opportunity for him to connect with these start-ups and he would explore possible collaboration with them.

The venture capitalist also visited the booth of GreenCoat, an Australian company offering plasma-coating for windows that helps increase a building’s energy efficiency, to explore the possibility of piloting its products in other markets.

Embracing tech for a sustainable futureVarious seminars and exhibitions were held across four major series, Emerging Trends for Tech and Innovation, Fuelling the Future, Market Exploration and Inspirational Masterclass. The series focused on the latest trends in I&T to equip start-ups and SMEs to help them seize market opportunities.

With the increasing importance of ESG globally, a seminar was held at E-Day on this theme. The seminar explored ESG best practices, sustainable development and brand building.

Additionally, international brand experts discussed ways to leverage the latest AI chatbot technology as a tool for brand marketing.

This year, the HKTDC once again organised Start-up Express International, the international edition of its long-standing start-up development programme, to attract overseas start-ups to expand their business in Hong Kong. Eight of the ten award-winning global start-ups shared their entrepreneurial journey at E-Day.

All BIP events are available on-demand now until 8 January 2024. Replay of E-Day events will be available from 9 January 2024.

Business of IP Asia Forum website: https://bipasia.hktdc.com/en/HKTDC Entrepreneur Day: https://portal.hktdc.com/eday/enStart-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-internationalPhoto Download: https://bit.ly/3TaL8Ba

IPHatch Asia gathered global tech pioneers to discuss their IP best practices. Previous IPHatch competition winners shared their entrepreneurship journey

The conference also provided a series of training courses for IP owners and users, covering topics such as fundamentals of IP and more

IP & Innovation Market showcased over 30 innovation projects to further strengthen IP commercialisation and facilitate collaboration

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Over 10,000 visitors attended Entrepreneur Day, which was held under the theme of Building Resilience, Boosting Collaboration this year.

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The seminar titled “When Technology and ESG Collide – Brand Strategies for Sustainability” explored ESG best practices and sustainable development

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(From left to right) Alistair McEachern, Australian Deputy Consulate General to Hong Kong and Macau; Helen Sawczak, Senior Trade and Investment Commissioner for Greater China of Investment NSW; Gareth Williams, Australian Consulate General to Hong Kong and Macau; Stephen Liang, Assistant Executive Director, Industry Promotion of HKTDC; Ji Zhihong, Deputy Director of Futian District Investment Promotion and Enterprise Services Center of Shenzhen Municipality; and Smilely Lam, Director, Merchandise Trade and Innovation of HKTDC

 

Media enquires Please contact Hill & Knowlton: Grace Chiu, Tel: (852) 6432 3549, Email: grace.chiu@hillandknowlton.comRachel Zhu, Tel: (852) 6816 5846, Email: rachel.zhu@hillandknowlton.com

HKTDC’s Communication & Public Affairs Department:Jane Cheung, Tel: (852) 2584 4137, Email: jane.mh.cheung@hktdc.orgJanet Chan, Tel: (852) 2584 4369, Email: janet.ch.chan@hktdc.org

HKTDC Media Room: https://mediaroom.hktdc.com/

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

HKTDC and Hang Seng Bank’s InnoClub celebrate exceptional local entrepreneurs

Fuelling innovation in healthcare, biotech, F&B

InnoClub, a platform co-created by the Hong Kong Trade Development Council (HKTDC) and Hang Seng Bank for start-ups and SMEs in Hong Kong and the wider Guangdong-Hong Kong-Macao Greater Bay Area (GBA), is pleased to announce the three winners of the inaugural InnoClub Awards.

Hong Kong’s leading online medical platform iMeddy, F&B industry game changer DimOrder and fast-growing biotech start-up Decode Cure have been recognised for their ground-breaking achievements in healthcare, F&B and biotech, respectively, with the awards given on the final day of HKTDC’s annual Entrepreneur Day.

Established in 2021, InnoClub supports more than 1,000 start-ups and SMEs in Hong Kong and the GBA with their digital transformation and competitiveness, while promoting Hong Kong’s entrepreneurial spirit and innovation and technology (I&T) development. Aside from business matching, InnoClub organises gatherings, seminars and innovation showcases to facilitate the exchange of ideas and collaboration among its members. Coinciding with the platform’s second anniversary, the Awards recognise the achievements of InnoClub members.

Mr Stephen Liang, Assistant Executive Director of HKTDC, said, “The HKTDC provides comprehensive year-round support to SMEs and start-ups, helping them transform and grow and seize arising opportunities. InnoClub recognises the tremendous advances Hong Kong has been making in I&T and contributes to the sector’s continued growth. The inaugural InnoClub Awards recipients iMeddy, DimOrder and Decode Cure represent the latest generation of innovators in Hong Kong, reflecting our city’s status as a regional I&T hub.”

Mr Gilbert Lee, Head of Strategy & Planning and Chief of Staff to the Chief Executive of Hang Seng Bank said: “With our long-standing presence in the local market and a strong network in the GBA, Hang Seng Bank is dedicated to supporting the growth of start-ups and SMEs. InnoClub, which we established in partnership with HKTDC, provides a unique platform to drive the growth of its members. We offer comprehensive support, including networking, business matching, tailored banking services and marketing. The award winners exemplify the ways in which InnoClub enables their growth. We aspire to further enhance InnoClub and drive more success stories, similar to those of the award winners.”

Spotlighting rising talent

iMeddy has been awarded the InnoClub GBA Innovator Award, which recognises a start-up that has made significant contributions to I&T in the GBA, developing new and innovative products, services or technologies positively impacting the region.

As more young entrepreneurs from Hong Kong venture into the GBA, which has seen an increasing number of retirees choose to spend their retirement in the region, iMeddy seized the opportunity to address their medical needs.

The company has launched an online hospital in Nansha, Guangzhou. Their innovative digital platform enables Hong Kong doctors to serve as paramedics at their hospital. It also enables the seamless transport of medicine that are legally registered in Hong Kong to the GBA, providing reassurance and familiarity to patients accustomed to receiving care from Hong Kong doctors. With the Hong Kong SAR Government’s robust support of GBA entrepreneurs, iMeddy aims to expand its services to include Chinese medicine.

Mr Stephen Tsoi, Co-Founder and Marketing Director of iMeddy, said, “We are grateful to have benefited from InnoClub’s hands-on and direct support, which sets it apart from other start-up organisations. With InnoClub’s sponsorship and network, iMeddy was able to provide online Chinese medicine consultations to assist the elderly through community organisations. In the coming years, we aspire to expand our services in the GBA and extend our reach to Southeast Asia, with the continued support of InnoClub.”

The second winner DimOrder is the recipient of the InnoClub Industry Impact Award. This recognition is given to a start-up that has made significant contributions to an industry through their innovations, demonstrating leadership, creativity and expertise in their field.

DimOrder has developed a system that covers everything from meal ordering and check-out to restaurant management and ingredient procurement. With the support of AI and big data, it is helping restaurants realise their business expansion plans, automate their marketing strategies and supply chain management.

Mr Tim Lee, Co-Founder of DimOrder, said, “As the F&B industry is indispensable to our daily lives, it is crucial for us to address persistent pain-points that are common among many restaurants, so that the F&B industry can level up collectively. DimOrder is excited to create noticeable social impact in Hong Kong with over 1,500 customers currently. In addition, we hope to expand to Southeast Asia’s emerging markets, with the aim to not only be a service provider, but also build a landmark F&B ecosystem.”

The third and final award, InnoClub Rising Star Award, recognises an up-and-coming start-up that has shown exceptional promise and the makings of a future leader in their field by demonstrating creativity, leadership and a commitment to innovation.

Award recipient Decode Cure aims to develop a precise, rapid and user-friendly diagnostic solution to identify pathogens, using combined techniques of bioinformatic and big data analytics. Nearing the end of its four-year R&D phase, the biotech firm’s advanced technology detects pathogens causing complex disease, such as pneumonia and Alzheimer’s in under 24 hours. During the pandemic, it contributed to the Hong Kong SAR Government’s sewage surveillance programme, a cost-effective measure that allows the monitoring of variants, leading to the lowest possible impact on the community. The technology shortens the time to get results by 10 days, compared with clinical data.

Dr Bin Ye, Founder of Decode Cure, said: “In InnoClub, there are a lot of companies in the early development stages. They have great technologies and I believe our company can utilise some of the techniques of these companies for our commercial and marketing use. As we are pushing our product to the market, we can reach out directly to more potential customers thanks to InnoClub and Hang Seng’s large membership and clientele, which make this a great vehicle and opportunity.”

Photo Download: https://bit.ly/3RyFBTF

(from left to right) Nancy Cheng, Principal, Strategic Planning and Corporate Development, Hang Seng Bank; Alex Wong, Head of Sales and Client Coverage of Business Banking, Hang Seng Bank; Stephen Tsoi, Co-Founder and Marketing Director, iMeddy; Gilbert Lee, Head of Strategy & Planning and Chief of Staff to the Chief Executive of Hang Seng Bank; Stephen Liang, Assistant Executive Director, HKTDC; GBA Innovator Award Awardee, Industry Impact Award Awardee Tim Lee, Co-founder, DimOrder; Rising Star Award Awardee Dr Ye Bin, Founder, Decode Cure; Smilely Lam, Director, Merchandise Trade and Innovation and Director, External Relations, celebrate exceptional achievements of awardees at the InnoClub Awards
The InnoClub GBA Innovator Award goes to iMeddy, which has launched an online hospital in Nansha, Guangzhou to cater to medical needs of young entrepreneurs and retirees in the GBA, providing reassurance and familiarity to patients accustomed to receiving care from Hong Kong doctors
DimOrder is the recipient of the InnoClub Industry Impact Award. Their system incorporates AI and big data, helping restaurants realise their business expansion plans. With 1,500 customers, the company’s ultimate aim is to build a landmark F&B ecosystem
InnoClub Rising Star Award goes to Decode Cure, which uses bioinformatic and big data analytics to detect pathogens that cause complex disease, such as pneumonia and Alzheimer’s in under 24 hours. It contributed to the Hong Kong SAR Government’s sewage surveillance programme, shortening the time to detect variants by 10 days

Media enquiries
Hill & Knowlton:
Ada Leung, Tel: (852) 9280 3822, Email: ada.leung@hillandknowlton.com
Sharon Abratique, Tel: (852) 6324 8499, Email: sharon.abratique@hillandknowlton.com

HKTDC’s Communications & Public Affairs Department:
Frankie Leung, Tel: (852) 2584 4298, Email: frankie.cy.leung@hktdc.org
Agnes Wat, Tel: (852) 2584 4554, Email: agnes.ky.wat@hktdc.org

Media Room: http://mediaroom.hktdc.com/en

To view press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

About Hang Seng Bank
Hang Seng is celebrating its 90th anniversary this year. Founded in 1933, Hang Seng has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.9 million customers.

Combining its award-winning mobile app and strong digital capabilities with a vast network of over 260 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere.

Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei.

As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community.

Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations. More information on Hang Seng is available at www.hangseng.com .

BIP Asia Forum and Entrepreneur Day open today

Exploring new opportunities in IP and innovative technology

  • BIP Asia Forum explores IP applications and brand strategies to help businesses seize growth opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and international markets
  • Entrepreneur Day brings together start-ups and SMEs to network and showcase their latest technologies
  • Global award-winning start-ups selected for Start-up Express International share their industry perspectives and entrepreneurial experiences
  • InnoClub, co-developed by the HKTDC and Hang Seng Bank, recognises innovative winners

The 13th Business of IP Asia Forum (BIP Asia Forum), jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Special Administrative Region Government (HKSAR Government), along with the 15th Entrepreneur Day (E-Day) hosted by HKTDC, open today.

This is the first time both events are being held concurrently for two consecutive days at the Hong Kong Convention and Exhibition Centre, offering a mix of forums, exhibitions, competitions, workshops, and business matching sessions.

The two events bring together more than 140 industry leaders specialising in intellectual property (IP), innovation and technology (I&T) and sustainability, along with international IP experts. They will exchange insights on start-up trends, IP applications and brand strategy as well as explore business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and international markets. The events will showcase an array of products and technologies from over 350 start-ups and innovative projects.

Margaret Fong, Executive Director of the HKTDC; Michael Wong, Deputy Financial Secretary of the HKSAR; Dr Lu Pengqi, Deputy Commissioner of the China National Intellectual Property Organization; and Daren Tang, Director General of the World Intellectual Property Organization (WIPO), delivered remarks at the opening session this morning.

Ms Fong said: “A robust IP infrastructure needs to serve as the backbone for innovations, giving enterprises the confidence and capital to create. Hong Kong is a centre for innovation. It has world-class R&D and IP infrastructure, coupled with top-notch academic research and strong government support. The development of the GBA strengthens interconnectivity and cooperation among its cities across industries, including IP and innovation. This offers arising opportunities for businesses and fosters economic growth in the region and beyond.”

IP & Innovation steering new economic growthThe BIP Asia Forum, themed IP & Innovation: Steering New Economic Growth, gathers over 90 industry leaders to share their valuable insights.

At the Policy Dialogue – Powering Economic Growth through a Future-Ready IP Policy, Mr Tang said: “With COVID behind us, the world now needs to look forward and build new engines of growth for the future. This is why WIPO is focusing on IP’s role as a powerful catalyst for creating jobs, supporting business growth, giving hope to entrepreneurs, catalysing the creative economy and driving economic growth and development everywhere. Hong Kong, and the Greater Bay Area as a whole, is extremely well positioned to be a key global leader in this conversation. It is a centre of IP trade and innovation as well as a global platform for sharing ideas and perspectives for growth, not just in the region but also across the world.”

One of the first day’s highlights is the plenary session Underpinning Brand Success: IP Strategies in the Digital Era. It features Mayeul Dastugue, Legal Director of Global IP Enforcement of Christian Louboutin; Laurence Morel-Chevillet, IP and Brand Protection Director of Bulgari; and Mayank Vaid, Intellectual Property Director of Asia Pacific & China (Civil) of Louis Vuitton Pacific Limited. They will share their brands’ IP strategies for the digital economy and how they are utilising technology to reinvent their brands.

There are more in-depth sessions in the afternoon, including “IPHatch Asia – Empowering Innovation and Entrepreneurship with IP”, “Constructing a Renowned Greater Bay Area with IP”, “IP Collaboration and Competition in the Biomedical Industry in the Greater Bay Area”, and “Leading the Global Exchange of Digital Content and Intellectual Property Protection Development”. Speakers will delve into and exchange ideas on the latest trends and future development of intellectual property in various fields.

Global Tech Summit gathers renowned tech firmsAt the Global Tech Summit on the Forum’s second day, Olivier Klein, Chief Technologist of Amazon Web Services Asia Pacific; Shing Lee, Cloud Solution Strategist (Data & AI) of Microsoft Hong Kong; and Dr Ginny Wong, Data Scientist of NVIDIA AI Technology Center Hong Kong, discuss the generative artificial intelligence (AI) trend and its impact on IP rights.

At another panel discussion tomorrow, legal experts share their insights on legal issues related to AI-generated content and third-party IP rights, and provide practical advice on how to manage such IP issues.

The Forum’s Innovation & IP Market brings together some 50 exhibitors and showcases more than 30 innovative projects from tertiary institutions, R&D centres and start-ups.

Furthermore, the ASEAN Secretariat and the HKSAR Government’s Intellectual Property Department have co-organised an ASEAN Session in collaboration with the World Intellectual Property Organization, which features experts from the ASEAN and Hong Kong IP industries.

Several authorised agents and international brand holders are also featured, including fashion brand MCM Group; S2O Factory, the organiser of the S2O Songkran Music Festival; B.Duck Semk Holdings International Limited and others. They discuss how to apply effective strategies to maximise the value of trademarks in today’s rapidly changing global business environment.

Entrepreneur Day: Innovation trends and opportunities in focusThemed Building Resilience, Boosting Collaboration, E-Day showcases over 300 start-ups, invention projects and support services from 11 countries and regions.

The exhibition also provides opportunities for networking and business matching, while also offering I&T insights that enable start-ups and SMEs to seize new opportunities. It features cutting-edge projects, such as Hong Kong company IG INNO Limited’s painting robot, which applies 3D point or line laser technology to ensure painting precision. In addition, Zhejiang Flectothink Technology from Mainland China showcases its wearable EEG sleep monitoring device, with precision levels comparable to sleep monitor devices used in the medical field.

Separately, Investment NSW takes part in the event for the first time and brings along nine start-ups from Australia to demonstrate health tech, green tech and smart city tech.

This year’s E-Day sees participation from incubators from the GBA, who share all that start-ups need to know about establishing businesses in the area.

50 local start-ups under the Funding Scheme for Youth Entrepreneurship in the GBA, supported by the HKSAR Government’s Home and Youth Affairs Bureau, also join the event.

The first seminar of E-Day was T-Chat – Cooling the Cloud: Igniting Sustainable Innovation for a Resilient Future featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4. He received the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019.

He said: “Innovation means nothing without effective implementation. Even the smallest steps could make a difference in creating a sustainable data centre management system. Save energy as much as we can. It’s important that we at least try.”

The HKTDC is co-organising the Global Dialogue on Women Entrepreneurship session with The Hong Kong Federation of Youth Groups, which brings together three outstanding female entrepreneurs from Hong Kong and the United States, including Tonya McNeal-Weary, Founder and Managing Director of IBS Global Consulting, Inc.; Jenny Shen, Co-founder and CEO of Foodplus; and Chan Ming Wai, Co-Founder and Chief Clinical Audiologist of Tandle Limited.

Mrs McNeal-Weary said: “Women entrepreneurs face the same challenges no matter how physically far apart we are. E-Day is a great platform that allows us to connect with the world. To all the men, if you have a company, hire women. Don’t be afraid to let women aboard. We can bring a lot of different creations and more insights to the table, as we are different.”

10 global start-ups selected for Start-up Express InternationalFollowing the success of last year’s event, the second edition of Start-up Express International is being held again during this year’s E-Day. Eight out of the ten award-winning global start-ups have gathered at the Start-up Express International – Meet the Global Winners event to share their industry perspectives and entrepreneurial experiences.

InnoClub holds inaugural InnoClub Award Presentation CeremonyInnoClub, co-developed by the HKTDC and Hang Seng Bank, features the inaugural InnoClub Award Presentation Ceremony at E-Day to recognise outstanding achievements of the awardees in I&T.

WebsitesBusiness of IP Asia Forum website: https://bipasia.hktdc.com/en/HKTDC Entrepreneur Day: https://portal.hktdc.com/eday/enStart-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-internationalPhoto Download: https://bit.ly/3Raa0pV

The 13th BIP Asia Forum, jointly organised by the HKTDC and the HKSAR Government, opens today

(From left to right) Mr David Wong, Director of Intellectual Property, HKSAR; Ms Margaret Fong, Executive Director of HKTDC; Mr Michael Wong, Deputy Financial Secretary, HKSAR; and Mr Simon Cheung, Managing Director of Nestle Hong Kong Co., Ltd took picture at the Nestle Eagle Brand photo booth. Since becoming the first registered trademark in Hong Kong in 1874, the Nestle Eagle Brand has secured the company’s growth for over 140 years.

Michael Wong, Deputy Financial Secretary, HKSAR

Dr Lu Pengqi, Deputy Commissioner, China National Intellectual Property Organization

Daren Tang, Director General, World Intellectual Property Organization (WIPO)

The first seminar of E-Day was T-Chat – Cooling the Cloud: Igniting Sustainable Innovation for a Resilient Future featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4. He is also the recipient of the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019.

The Global Dialogue on Women Entrepreneurship brings together three outstanding female entrepreneurs from Hong Kong and the United States, including (far left) Tonya McNeal-Weary, Founder and Managing Director of IBS Global Consulting, Inc.; (second left) Jenny Shen, Co-founder and CEO of Foodplus; and (second right) Chan Ming Wai, Co-Founder and Chief Clinical Audiologist of Tandle Limited

Following last year’s success, the second edition of Start-up Express International is being held again during this year’s E-Day

 

About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiresPlease contact Hill & Knowlton:Rachel Zhu, Tel: (852) 6816 5846, Email: rachel.zhu@hillandknowlton.com Grace Chiu, Tel: (852) 6432 3549, Email: grace.chiu@hillandknowlton.com 

HKTDC’s Communication & Public Affairs Department:Jane Cheung, Tel: (852) 2584 4137, Email: jane.mh.cheung@hktdc.orgJanet Chan, Tel: (852) 2584 4369, Email: janet.ch.chan@hktdc.org