Tag: Latest News

vibration-monitoring-market-to-reach-$217-billion,-globally,-by-2027-at-6.6%-cagr:-allied-market-research

Vibration Monitoring Market to Reach $2.17 Billion, Globally, by 2027 at 6.6% CAGR: Allied Market Research

November 3, 2020 Published by

Allied Market Research published a report, titled, “Vibration monitoring Market by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), and End Use (Energy & Power, Metals & Mining, Oil & Gas, Automotive, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027” According to the report, the global Vibration monitoring industry generated $1.33 billion in 2019, and is expected to reach $.2.17 billion by 2027, witnessing a CAGR of 6.6% from 2020 to 2027.

Prime determinants of growth

Growth in awareness toward predictive maintenance, rise in concern related to products safety and functionality, and increase in trend of vibration monitoring through wireless system drive the growth of the global vibration monitoring market. However, high installation cost, lack of skilled workforce, and other technical resources for analyzing and prediction restrain the market growth. On the other hand, the R&D for integration of AI create new opportunities in the coming years.

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Covid-19 Scenario

  • Due to the outbreak of covid-19, the process of vibration monitoring system development has been delayed.
  • The slowdown in industrial growth, on the other hand, has further affected the market growth.

The embedded system segment to continue its leadership status during the forecast period

Based on system type, the embedded system segment accounted for the highest market share in 2019, contributing to more than half of the total share of the global vibration monitoring market, and is estimated to continue its leadership status throughout the forecast period.  In addition, the same segment is estimated to grow at the fastest CAGR of 7.3% from 2020 to 2027. Embedded system comprises of a complete package which provides the user with hardware, software and services provided by the market player and reduces the effort of the buyer. This factor drives the growth of the segment.

The automotive segment to maintain its highest share during the forecast period

Based on monitoring process, the online segment contributed to the largest market share, holding nearly three-fifths of the total share of the global vibration monitoring market in 2019, and is projected to maintain its highest share by 2027. Moreover, this segment is also projected to maintain the highest CAGR of 7.0% during the forecast period. Online monitoring process allows user to connect the devices with IIoT along with providing a real time view on asset for efficient predictive maintenance. This, in turn, proliferates the growth of the segment.

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North America to offer lucrative opportunities-

Based on region, North America contributed to the largest share of the global vibration monitoring market, accounting for nearly three-fifths of the total share in 2019, and will maintain its lead position throughout the forecast period. The region has large number of industries which demands higher deployment of vibration monitoring systems, thereby driving the growth of the market globally. Nevertheless, this Asia-Pacific region is expected to portray at the highest CAGR of 8.0% from 2020 to 2027. Asia-Pacific is one of the fastest growing region in terms of industrial economy, which is why it is anticipated to provide massive contribution to the growth of the global market.

Leading market players

  • National Instruments Corp.
  • Rockwell Automation Inc.
  • Honeywell International Inc.
  • Schaeffler Technologies AG & Co. KG
  • Bruel & Kiaer Sound & Vibration Measurement A/S
  • Analog Devices Inc.
  • SKF AB
  • Emerson Electric Co.
  • General Electric
  • Meggitt PLC

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coinshares-appoints-compass-financial-technologies-to-serve-as-independent-calculation-agent-for-xbt-provider-certificates

CoinShares appoints Compass Financial Technologies to serve as independent calculation agent for XBT Provider Certificates

November 3, 2020 Published by

 

CoinShares, Europe’s largest crypto asset management firm with over $1 billion in assets under management, has today announced that the official prices of the XBT Provider range of ETPs will be calculated and published by Compass Financial Technologies on Bloomberg and Reuters. Compass FT is a financial services company specialising in the design, calculation and publication of market benchmarks and financial indices and is registered as a benchmarks administrator under EU Benchmark Regulations.

The prices to be published on Bloomberg and Refinitiv fall under the following ticker symbols:

XBT Certificate

Bloomberg Code

Refinitiv Code

Bitcoin Tracker One

XBTPBTCS Index

.XBTPBTCS

Bitcoin Tracker Euro

XBTPBTCE Index

.XBTPBTCE

Ether Tracker One

XBTPETHS Index

.XBTPETHS

Ether Tracker Euro

XBTPETHE Index

.XBTPETHE

Litecoin Tracker One

XBTPLTCS Index

.XBTPLTCS

Litecoin Tracker Euro

XBTPLTCE Index

.XBTPLTCE

XRP Tracker One

XBTPXRPS Index

.XBTPXRPS

XRP Tracker Euro

XBTPXRPE Index

.XBTPXRPE

Townsend Lansing, head of product at CoinShares commented “Transparency and trust are important considerations when selecting investment products, and our investors expect and deserve the best support possible. We are pleased to appoint Compass Financial as our independent calculation agent for XBT Provider, which we believe will provide investors with greater certainty and transparency as to the pricing for XBT Certificates.”

The XBT Provider line of products offers investors exposure to cryptocurrency via simple access to financial instruments listed on traditional, regulated securities exchanges. This suite of exchange traded products was created in a structure familiar to investors, allowing them to be bought and sold during trading hours alongside traditional securities. The appointment of Compass Financial is the latest in a series of improvements made to the platform in recent months aimed at increasing transparency and providing a more streamlined user experience for investors.

In September, CoinShares announced that investors would be able to take advantage of Armanino LLP‘s Real Time Assurance application, which allows on-demand, real-time reports on collateral holdings that follow top industry standards backed by a top 25 independent public accounting firm.

In August, the company also announced that the digital assets held to physically back the XBT Provider range of products would be safeguarded by Komainu, the first hybrid custodian for institutional digital asset investors created by the Japanese investment bank, Nomura, digital asset manager, CoinShares and digital asset security company, Ledger.

csci-attends-the-2020-hong-kong-fintech-week,-unveiling-its-bond-credit-rating-and-trading-services-tailored-made-for-offshore-bond-market

CSCI attends the 2020 Hong Kong Fintech Week, unveiling its bond credit rating and trading services tailored made for offshore bond market

November 3, 2020 Published by

 

China Securities Credit Investment Co., Ltd. (hereinafter referred to as”China Securities Credit Investment”), a national comprehensive credit service organization, together with its subsidiaries that focus on overseas strategy and business development – China Securities Credit Investment Technology Co., Ltd. (hereinafter referred to as “China Securities Credit Technology”) and Pengyuan Credit Rating (Hong Kong) Co., Ltd. (hereinafter referred to as “Pengyuan International”) made its debut again at the global renown fintech event -2020 Hong Kong Fintech Week, presenting online fintech studio regarding overseas funds entry into Chinese bond markets. A series of innovative solutions such as DMI bond quotation and information services from China Securities Credit Technology and credit rating services from Pengyuan International were also released.

Committed to providing full credit value chain services driven by technology

In 2018, China Securities Credit Investment (CSCI) made its debut at the Hong Kong Fintech Week and aroused strong responses. This year marked the fifth anniversary of Hong Kong Fintech Week with a brand new online conference mode and CSCI was invited to participate again.

As the leading Chinese integrated credit-tech service provider, CSCI aims to build an infrastructure that serves the entire life cycle of credit assets (asset generation – asset trading and exchange – asset management) empowered by its technology. It provides integrated services that cover the entire credit value chain, from credit risk management, credit enhancement, to credit asset trading services and management. In response to the low market recognition and insufficient liquidity of RMB assets in overseas markets due to opaque information, CSCI aims to provide overseas markets with high-quality and valuable international credit ratings, data and information services through the Hong Kong business platform, in order to help foreign investors understand RMB assets more comprehensively, objectively and quickly as well as increase their recognition and participation in RMB assets.

As the world economy has entered the era of low interest rates, the income of Chinese assets has obvious advantages on a global scale. The Chinese government has opened up for foreign capital markets in order to bring more money flowing in and out of the country. However, data shows that foreign capital still has concerns about entry the Chinese financial market especially the bond market. The online fintech studio on “Is Wall Street Ready to Accept Chinese Assets?” organized by CSCI and its subsidiaries aims to analyze the current situation of foreign capital entry the Chinese credit market and explore future opportunities. This panel connected distinguished guests from Shanghai, Hong Kong and Beijing, including Yang Yang, CEO of China Securities Credit Technology; Terry Zhang, Head of Global Strategy and Business Management of Pengyuan International; and Zhai Chenxi, Chairman of the Board of TF International Securities Group, Co-President of HengTai Securities and attracted approximately 25,000 attendees around the world.

Huge opportunities behind China’s credit bond market

“China is one of the world’s largest bond markets with the second largest scale globally. At present, international investors only account for about 10% of our local interest bond market. It is expected that the proportion of international investors in China’s bond local currency market will increase to 20% in the near future,” Zhai Chenxi from TF International put it.

When it comes to the differences between China’s bond transactions and overseas’, Yang Yang from China Securities Credit Technology (CSCT) admitted that due to the lack of information about Chinese bonds on the overseas market platforms, foreign institutions do not know which direction to focus on when investing in Chinese bonds. In response to it, Yang Yang introduced the current status of the domestic credit bond market and the main trading methods, and stated,”In China, about 90% of Chinese bond issuers have not made their debut in the international market. Therefore, despite the great opportunities behind China’s credit bond market, foreign investors are not familiar with them.”

As a market innovator, CSCT has built a comprehensive bond information platform for global financial institutions. The DMI terminal (www.cscidmi.com) launched by CSCT made great efforts to eliminate the information asymmetry of the two markets. It determines to build a Chinese bond quotation and information platform for overseas investment institutions, and provide foreign investors with various analytical tools and first-hand news information. It helps them better understand the Chinese market, effectively reduce credit risk, and use technology to empower China’s credit bond market. This will be the gateway for foreign investors into the Chinese market.

Huge data value in China’s domestic ratings

Regarding the doubts of global investors about whether China’s domestic credit ratings are inflated, Terry Zhang from Pengyuan International stated that China’s domestic ratings are in parallel with global credit ratings and cannot be directly compared. The global investors must realize a few things, firstly these domestic ratings are just of a different scale than the one they used to; seccondly, the domestic rating does carry great data value although it has much room to improve, and lastly, they should never confuse domestic rating to the global ones when they make investment decision.

As an international credit rating agency, Pengyuan International understands the differences between global and domestic credit ratings and is committed to providing reliable rating services for the global capital market. It uses data to enable international investors to better understand market trends through rating agencies. In addition to the distribution of global ratings authorized by the issuer, Pengyuan International can also conduct ratings based on the needs of global investors, according to the global scale, and combined with local conditions, which can well support and improve the decision-making of global investors.

Chen Hao, Chief Data Officer of CSCI put it, “We are honored to participate in Hong Kong Fintech Week again. As China’s leading credit technology company, China Securities Credit Investment Group will rely on highly effective technology innovation and keen sense of the market demand, forge ahead and become a highly influential technology service provider in China’s offshore bond market.”

bos-welcomes-swedish-enquiry’s-rejection-of-atg’s-levy-appeal

BOS Welcomes Swedish Enquiry’s Rejection of ATG’s Levy Appeal

November 3, 2020 Published by
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Swedish trade association for online gambling Branschföreningen för Onlinespel (BOS) has welcomed the decision of Social Democrat MP Anna-Lena Sörenson to recommend against a mandatory levy for Swedish horseracing.

Sörenson had been tasked to lead a “gambling market enquiry” for evaluating whether the Riksdag should impose a mandatory levy on Swedish horseracing wagers.

The enquiry had been launched following appeals made by government sanctioned racetrack operator ATG that a levy should be imposed on licensed betting incumbents to support Sweden’s racing community.

Hasse Lord Skarplöth, Chief Executive of ATG, had urged the government to back a levy, as ATG had lost its racing exclusivity with increased competition joining the market.

Writing an open-editorial in a Swedish business newspaper, Sörenson rejected the levy propositions and ATG appeals. Sörenson explained that despite a higher number of bookmakers competing in the marketplace, ATG concerns were unfounded as the operator and its owning Svensk Travsport maintained a 98% share of Swedish racing.

In her assessment, Sörenson stated that ATG had expanded its market privileges as it was able to maintain its racing concession, whilst expanding its product portfolio offering its customers and new sportsbook and online casino service.

delving-into-defi’s-hidden-super-platform

Delving into DeFi’s Hidden Super Platform

November 3, 2020 Published by

 

Quietly up against strong competitors, DRK aims to fundamentally transform daily activities of crypto users (and DeFi users in particular) as it works towards its ambition to become an all-in-one super platform in the crypto space. Based on its native chain (DRK Chain), the underlying platform centers around a decentralized cross-chain exchange (DRK DEX) seamlessly integrated with its Dapp ecosystem consisted of DeFi services (DRK Crosschain Swap, DRKompound), games (DRKats, DRocKet, DTrade), a social network reserved specifically for all crypto users (DRKakao), and more.

In its final form, DRK will be where crypto users can earn money 24/7, have fun and connect with like-minded people. The need for such a platform has never been greater. Imagine Facebook, Medium, Telegram, Coinmarketcap and Trustwallet all rolled into one, DrKakao is already in development, designed to connect crypto users and provide useful social features such as regulated P2P trading, and live streaming for crypto KOLs.

As the centerpiece in the grand scheme, DRK DEX has achieved 5.48M monthly views and is supporting 6 coins and tokens (on 4 popular blockchain networks), and 6 trading pairs. Innovations in cross-chain compatibility behind DRK DEX and DRK Swap have solved the headache facing all Defi projects: how to guarantee utility as well as usability and security. Users only need to log in once by connecting with your Metamask wallet to access wallets on all popular blockchain networks (Bitcoin, Ethereum, Tron, and DRK Chain), and do not need to switch networks while trading. The keys of these wallets are generated from your logged-in wallet signature, stored on the client side, and cannot be accessed by any party including the DEX creators.

Seamlessly integrated with DRK DEX, DRK Swap combines the best features of Uniswap with a smart fee mechanism to help liquidity providers mitigate impermanent loss in case of high slippage. Likewise, DRKompound brings Compound enthusiasts a DEX-like and much easier to use interface. On the other hand, DRKats combines elements of DeFi and NFT, allowing users to stake DRK coins in order to receive DRKat NFTs, which can be crossbred and traded freely.

All these high-performance Dapps were and will be built on DRK Chain, which is no less powerful than other popular blockchains, achieving high throughput, smart contract functionality, and compatibility with the Ethereum Virtual Machine (EVM) with support for the rich universe of Ethereum tools and DApps. This makes it easy for developers to port their projects over from Ethereum, and for users to configure applications like MetaMask to work with DRK Chain.

DRK Chain achieves 2 second blocktime with a Proof-of-Stake consensus algorithm and many innovations. Firstly, DaRK privacy protocol uses cutting-edge zero-knowledge proofs to enable private transactions. Secondly, the anti-spam mechanism applies a loyalty point on each address based on the amount of gas that address has contributed to the network, so that the higher the loyalty point is, the less gas it needs to prioritize outbound transactions. Thirdly, the anti-slack mechanism allows any validator node which stops mining blocks to be reported by any address and penalized, keeping validator nodes healthy and the network sustainable.

DRK, the native coin on DRK Chain, has been consistently valued at $0.05  for 3 months with a market cap of $800M, and a daily trading volume of $3M. Currently, 96% of DRK coin supply has been permanently locked in staking, and all newly mined DRK will be staked to prevent inflation. To further popularize its Dapps, DRK Team is considering to list DRK on a major exchange. In the meantime, a few startups are asking to list their own tokens on DRK DEX by paying a fee in DRD, yet another highly demanded token on DRK Chain.

32red-to-exit-italian-market

32Red to Exit Italian Market

November 3, 2020 Published by
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Kindred Group has decided to withdraw its 32Red brand from the regulated Italian market.

A statement on the website confirmed the news. It read: “We are sorry to inform you that starting from November 30th 32Red will no longer be operational.

“It was a difficult choice to make. We hope, however, that these years spent together have been fantastic for you, as they have been for us.”

The operator advised customers to withdraw funds by November 29 as they would be unable to access the site after this point.

Kindred will be focusing on promoting its other brand, Unibet.it, in the Italian market. The operator said Unibet would “guarantee 32Red.it players the warm welcome they deserve.”

greater-than’s-solution-enerfy-has-been-selected-for-microsoft’s-#buildfor2030-campaign

Greater Than’s solution Enerfy has been selected for Microsoft’s #BuildFor2030 Campaign

November 3, 2020 Published by

 

Greater Than, the insurtech provider of AI-based risk intelligence, has been selected by Microsoft to showcase Enerfy in their BuildFor2030 Campaign ­- featuring solutions that support the UN’s Sustainable Development Goals.

From late October until the beginning of December, Microsoft will be showcasing partners providing solutions and services supporting the UN’s SDG 13: Climate Action. Greater Than’s solution Enerfy, which prices driving risk and helps reduce CO2 emissions through personalized smart driving tips, is being featured as a top contributor to Climate Action.

“We are delighted to be featured in this campaign, as the topic is very close to our hearts and is at the core of everything we do. Being part of Microsoft’s initiative to showcase partners who provide solutions and services in alignment with the UN’s Sustainable Development Goal is truly a great honor.” – says Johanna Forseke, CBO at Greater Than.

Learn more about our solution in the Azure Marketplace.

What is #BuildFor2030?

With the aim of building an inclusive economy, Microsoft and their partner-led communities are coming together to launch #BuildFor2030. Starting October 30th through December 4th,

Microsoft will be showcasing partners who offer solutions that align with the UN’s various Sustainable Development Goals. The campaign was designed to promote technology that fosters an inclusive, equitable and sustainable economy.

wirex’s-‘rising-women-in-crypto-power-list’-announced

Wirex’s ‘Rising Women in Crypto Power List’ Announced

November 3, 2020 Published by

 

Leading payments company, Wirex, in partnership with The Fintech Times, has revealed its 2020 ‘Rising Women in Crypto Power List’. After receiving 367 entries, the esteemed judging panel have chosen the 10 most inspirational women at the forefront of the crypto industry.

The ‘Power List’ was created as part of Wirex’s inaugural ‘Women in Crypto’ campaign, endeavouring to showcase the achievements of women in the field and inspire others to get involved. After the longlist was published last month, the judges narrowed it down based on nominees’ achievements, potential, leadership skills, ambition, influence and innovation in the crypto field. The winners come from a variety of backgrounds and include women working in events, research and content creation.

Wirex and The Fintech Times’ 2020 ‘Rising Women in Crypto Power List’ is (in no particular order):

  • Noelle Acheson, Director of Research, CoinDesk
  • Professor Tonya M. Evans, Professor, Penn State Dickinson Law
  • Lucy Gazmararian, Associate Director, PWC Crypto & Fintech Advisory
  • Susan Crew, Content Creator, “Crypto Granny”
  • Simone Maini, Chief Executive Officer, Elliptic
  • Inbal Polak, Director of Fund for Digital Assets, YRD Capital
  • Elizabeth Kukka, Executive Director, Ethereum Classic Labs
  • Sofie Blakstad, CEO, hiveonline
  • Christina Lomazzo, Blockchain Lead, UNICEF
  • Lenka Hudáková, Events Manager, Maker Foundation

The announcement comes during the final phase of the campaign, with a ‘Women in Crypto’ takeover of the Wirex channels taking place from the 26th October until the 8th November. This will feature content from women working at Wirex, as well as female influencers in the crypto and fintech fields. Contributors include: Ashley Koh, COO at Spark Systems, about what she’s learnt as a woman in fintech; George Coxon, COO at the Nano Foundation, with three things you didn’t know about Nano; and Erica Stanford, Founder of the Crypto Curry Club, with top tips for surviving networking events.

Wirex CEO and Co-Founder – and ‘Power List’ judge – Pavel Matveev, said: “We’ve been overwhelmed by the positive response we’ve received so far, and we’re delighted to finally reveal the ‘Power List’ top 10.”

The platform’s aim has always been to empower everyone to have access to cryptocurrency, leading Matveev to explain that “with so many inspirational women nominated, it was a difficult decision. But I’m confident that those picked represent the incredible talent of females in this field and I hope they inspire other women to be a part of this rapidly developing sector.”

The ‘Women in Crypto’ takeover will continue until 8th November with content being housed on the ‘Women in Crypto’ hub, and more information about the shortlist winners can be found on this link.

gaming-americas-weekly-roundup-–-october-26-november1

Gaming Americas Weekly Roundup – October 26-November1

November 3, 2020 Published by
Reading Time: 3 minutes

Welcome to our weekly roundup of American gambling news again! It was again an eventful week in the USA, despite the still-active virus attack.

Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

Score Digital Sports Ventures (theScore Bet), a subsidiary of Score Media and Gaming, has joined the National Council on Problem Gambling (NCPG) as a Platinum Member. NCPG is a leading national organisation for people and their families who are affected by problem gambling and gambling addiction.

The Argentina government is going to impose a higher rate of tax on online gaming for the forthcoming year. The initiative from Minister of Finance Martín Guzmán, which increases taxes on online gambling from 2% to 5%, was included in next year’s draft budget.

North American organisation Cloud9 has announced the signing of an all-female VALORANT roster. The team formerly known as Team MAJKL will now compete as Cloud9 White. Moreover, the organisation’s all-male team will be rebranded to Cloud9 Blue.

John Levy, Founder and CEO, Score Media and Gaming Inc., joined his team and Dani Lipkin, Director, Global Business Development, TMX Group, to celebrate the company’s graduation from TSX Venture Exchange to Toronto Stock Exchange and open the market.

Nevada State Sen. Keith Pickard, President of the National Council of Legislators from Gaming States, is leading an effort to expand the national organisation’s reputation as the primary source of best practices in gaming law and regulation.

Partnerships

The FanDuel Group has entered into a multi-year partnership with DC United and has become the exclusive sports betting sponsor of the club. The deal marks the first sports betting partnership for FanDuel with a Major League Soccer team.

Caesars Entertainment has expanded its partnership with IBS Software to transform digital distribution and sales across its entire portfolio of properties. Caesars is using IBS Software’s iHospitality distribution platform to provide real-time access to a global audience as it looks to fuel its recovery from the COVID-19 downturn. By centralising operations and extending reach, iHospitality allows Caesars Entertainment to reduce costs while increasing revenue.

The Detroit Red Wings has renewed and expanded its strategic partnership with BetMGM. As per the deal, BetMGM will continue to have an on-ice logo at Little Caesars Arena, along with in-venue signage, fan promotions and a sponsored presence on the Red Wings’ digital platforms. The District Detroit mobile app will also feature the BetMGM Stats Module, providing Red Wings fans access to betting odds and statistics next season.

New Appointments

Riot Games has appointed Jason Bunge as its first Chief Marketing Officer (CMO). Jason brings years of experience in gaming and global product marketing at a time when Riot is making its transformation into a multi-game publisher.

eQube Gaming Limited has appointed Amy Janko as its Chief Financial Officer (CFO), effective following regulatory approval. Ms. Janko brings more than eight years of senior financial accounting experience to the eQube team.

Acquisitions

Twin River Worldwide Holdings has entered into a deal to acquire the Tropicana Evansville casino operations from Caesars Entertainment. As part of the acquisition, Gaming and Leisure Properties, Inc. (GLPI), a publicly traded gaming-focused real estate investment trust (REIT), will acquire the Evansville casino real estate for $340 million and lease it back to Twin River for $28 million/year in rent, subject to escalation.

Simplicity Esports and Gaming Company has signed definitive documents to acquire three additional franchisee-owned esports gaming centres in California and Washington. The closing of these acquisitions gives Simplicity a total of nine corporate-owned and 20 franchisee-owned gaming centres open and operational.

Compliance

Golden Matrix Group Inc. has entered into a software licence and services agreement with a leading sports betting software and trading services provider to market and distribute a white label sportsbook platform for online betting.

cyberport-sheds-light-on-venture-capital-opportunities-in-the-new-normal-ahead-of-flagship-cyberport-venture-capital-forum

Cyberport sheds light on venture capital opportunities in the new normal ahead of flagship Cyberport Venture Capital Forum

November 3, 2020 Published by

 

Cyberport’s annual flagship tech investment event, Cyberport Venture Capital Forum (CVCF), is slated to take place on 3-4 November. During the media briefing on 30 Oct 2020, Peter Yan, CEO of Cyberport; Eric Chan, Chief Public Mission Officer of Cyberport and Cindy Chow, Chairlady of the Cyberport Investment Network (CIN) shared their views on the latest trends in global venture capital investing and provided a preview of the upcoming event. Meanwhile, representatives of three start-ups incubated by Cyberport – Redsip, Snapask and MediConCen – shared on their latest developments and the fundraising efforts for the Blockchain InsurTech, smart living and EdTech industries under the new normal.

Peter Yan, CEO of Cyberport cited recent studies to suggest that the venture capital market has shown signs of slowly recovering in recent months despite having the initial slowdown due to the epidemic and global economic downturn; venture capital investments around the world saw an uptick in value to defy expectations of a decline. Fundraising within China’s venture capital market also saw increases in activity with growth in both the number of deals and the amount of capital committed. Several start-ups incubated by Cyberport, including Aqumon, Quantifeed and Rice Robotics closed fundraising deals in October 2020.

This trend can also be seen within the Cyberport Macro Fund (CMF) programme. From January to September 2020, the CMF invested US$4.14 million (approximately HK$32 million) in five start-ups – Aqumon, GetLinks, OneDegree, CapBridge and MediConCen. During this period, the co-investment ratio has improved to 1:12 from the overall 1:6 ratio throughout the years.

Peter Yan, CEO of Cyberport said, “We have witnessed an increase in market demand for innovative technology solutions and the rapid development of related industries amidst accelerated digital transformation. We encourage our start-ups to show agility and versatility to grasp market opportunities and utilize Cyberport’s platform to seek business opportunities and connect with investors all over the world.”

Eric Chan, Chief Public Mission Officer of Cyberport said, “CVCF is our flagship event to connect investors and the start-ups community. We hope that this year Cyberport will play an even more effective role as a platform to facilitate deal flow. Amidst the epidemic, the number of exhibiting start-ups tripled compared to last year, reflecting a strong demand for venture capital investment. As more industry professionals and investors participate, we hope start-ups can understand the latest market trends and pursue the right direction for future development by learning from successful case studies and availing insights shared by internationally renowned speakers.”

Cindy Chow, Chairlady of the CIN said, “There are currently over 100 members in the Cyberport Investors Network (CIN), over seven-tenths of whom are based in Hong Kong, and a fifth hail from the Greater Bay area. We have been organizing different activities to foster communication between investors and start-ups to assist start-ups in capturing fundraising opportunities. Even if the investment environment has been challenging in the past year, average deal sizes continue to grow, which indicates that investors are still showing interest in projects of great potential.”

Cyberport empowers start-ups to seize opportunities amidst crisis

Several start-ups representatives shared their insights on the development of Blockchain InsurTech, smart living, and EdTech industries. In particular, William Yeung, Co-founder and CEO of MediConCen, shared how his medical platform raised funds from Cyberport Macro Fund in September despite the uncertain business environment. “We have always hoped to improve the process of medical claims with technology thereby improving the experience with insurance products. As the epidemic strengthened the general public’s understanding of insurance products, it allowed us to seize opportunities amidst the challenges and use blockchain-based technology to provide insurance services. With the support of Cyberport, we were able to raise funds quickly; and we have gained numerous partners through Cyberport’s network which had allowed us to learn from each other,” said William Yeung.

Redsip, a social media platform for wine enthusiasts, was present at last year’s CVCF and successfully closed deals within two weeks of meeting investors at the event. “We launched our product during the epidemic, coinciding with the emergence of a booming ‘stay at home’ economy under the new normal, which resulted in rapid organic growth in our user base. We hope to soon enter the markets of the Greater Bay Area, San Francisco and Singapore,” said Qing Li, co-founder and CEO of Redsip.

The epidemic has also accelerated the adoption of e-learning initiatives in the city and EdTech has emerged as one of the most watched technology spaces. Online education platform Snapask was part of the first batch of start-ups to receive investments from CMF in 2018, and it raised over US$35 million in a Series B round earlier in the year. Katherine Cheung, Snapask’s Chief Marketing Officer, outlined how the epidemic had led to observable changes in the demand for their services and the opportunities available within the industry. “Due to the epidemic, schools were suspended on multiple occasions yet the demand for learning remained, proven by the significant growth in the usage and the number of users of Snapask’s platform. In addition to matching us with suitable investors, Cyberport has also helped us in finding a sustainable operational model. We believe that the education industry will gradually shift towards a more interactive mode of learning,” she said.

CVCF introduces brand-new experiences to drive deal-flow

Cyberport has continually endeavoured to broaden the pool of smart capital and facilitate deal-making opportunities for start-ups. As CVCF continues to become an increasingly important event in the international investment calendar, this year’s event will bring a brand-new experience for both investors and start-ups.

Held as a virtual event for the first time, beyond the two days of live content, the event platform will be open to participants for a full month, providing start-ups with broader exposure and higher chances of being matched with suitable investors.

It will also include two international partner events – Silicon Dragon HK 2020 and the inaugural Edventure Global Business Acceleration Summit. 100 start-ups from all over the world have also been invited to showcase their innovative solutions at CVCF and the Summits, establishing a truly global platform for information exchange and investment exploration.

This year is also the first time CVCF will be partnering with Jumpstart to conduct “in-depth matching” for start-ups to help them find investors across Asia. It has already successfully arranged over 100 one-on-one meetings with investors from Asia, including India, Japan, South Korea, Indonesia, Thailand and Singapore.

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