Startups rapidly emerging from Central Japan – local entrepreneurs explain why

Central Japan, Dec 2, 2022 – (ACN Newswire) – Central Japan, the region in which the new anime-themed park famous for its sci-fi fantasy machines and vehicles debuted earlier last month, is quickly becoming the homeland of startups paving the way towards the future of mobility. Earlier this week, the Japan External Trade Organization (JETRO), together with the Central Japan Startup Ecosystem Consortium, organized a tour to show the media how this lesser-known part of Japan, compared to Tokyo, Osaka or Kyoto, was rapidly giving birth to local entrepreneurs – as the result of education, collaboration, and homegrown determination. The century-old industry and network of suppliers in Aichi, Nagoya and Hamamatsu is also opening up to collaborate with startups from all corners of the world.

1. Education

Yukiko Konishi, vice director of the Startup Promotion Office at Nagoya University, or NU, explained how rival universities in the Central Japan region started to join forces to form the Tokai Network for Global Leading Innovation Platform (Tongali) in 2015. Today, 18 universities stand behind a vision to "cultivate human capital that creates and delivers value leading to the future and enriching people, society, and earth" through entrepreneurship education. In 2020, over 4000 high school students to scholars and graduates participated in Tongali's educational events and programs. As a Tongali co-founder and Startup consortium member, she noted NU was a staple in the outcome of this endeavor. 67 entrepreneurs (as of November 2022) who took flight from NU including Optimind, a Forbes 30 Under 30 Asia 2020, and Acompany, a Forbes 30 Under 30 Japan 2021.

Three NU startups shared their stories. Deep-tech startup Tier IV's chief strategy officer, Ko Miyoshi, explained their world's first open-source software for autonomous driving, which runs on multiple platforms and provides full-stack solutions for the commercialization of intelligent vehicles. Called Autoware, its the equivalent of "Intel inside" for autonomous driving, adopted by over 500 companies across the globe. Toyota's battery-electric shuttle buses and Robo Taxi also partner with TIER IV, while Taiwanese manufacturer Foxconn has agreed to a joint development project for autonomous personal cars with a precondition of Autoware in future EV platforms.

On the Delivery Robot front, we turned the spotlight on Dr. Jude Nwadiuto from Nigeria, a postdoctoral fellow at Nagoya University. Receiving a Ph.D. in autonomous driving and robotics from Nagoya University, the founder and CEO of Fainzy Technologies demonstrated how the warm and cute-looking Mira X and ZiBot models were more seriously gun-ho than meets the eye, going beyond just delivering the payload. Mira X's artificial intelligence (AI) can avoid getting stuck by predicting its path and detecting when food is taken, with a 3D Holographic fan for advertising quality. And ZiBot can make highly accurate decisions from AI-based demand forecast data collected through 360-degree environment sensing.

Another lab-born startup, PotStill's demonstration was a fine blend of technology and psychology. PotStill was established in August 2020 to develop a "driver agent that promotes the improvement of driving behavior", and elemental technology for reducing accidents of elderly drivers based on human interaction research. PotStill director Takahiro Tanaka Ph.D., a designated professor at the Institute of Innovation for Future Society at NU, took participants on a test drive with an adorable 8-inch-tall robot alerting for speeding or stop signs in a relatively narrow residential area.

2. Collaboration

The City of Nagoya's Innovation Department stressed Central Japan's startup ecosystem provides everything a startup needs. On top of the local government's generous support, the region has everything from startup hubs and venture finance to business matching sessions with highly trained workers in many specialized fields, such as mobility. Representatives from Aichi prefecture and Japan's largest incubation hub-to-be, STATION Ai, added that "the region invites entrepreneurs and capitalists from all corners to facilitate state-of-the-art open innovation by infusing new ideas with local craftsmanship." Participants witnessed a few examples:

Home-grown startup SkyDrive's Hiroyuki Murai, chief strategy officer, showed renderings of their new SD-05 two-seater flying car scheduled to fly at the 2025 World EXPO. His team comprises industry specialists from diverse backgrounds, including Bombardier and BAE Systems. But he also stressed that they would not have come this far without the partner ecosystem supporting them in mass production, flight control, charging facilities, parts procurement, leasing, and port architecture.

Koji Ishizuka, senior director of the Electrification Systems Business Group at DENSO, praised Urban Air Mobility (UAM) startups for accelerating technological advances, which would take far longer with larger established enterprises. Ishizuka described how their alliance with Honeywell led them to develop a propulsion solution for German air taxi startup Lilium's All-Electric Jet. DENSO and Honeywell have global project teams in Japan, the EU, and the United States, to expand their Electric Propulsion Unit supply for a growing UAM market demand.

In addition to the collaborative nature of the local business community, Dr. Yoshihiro Takiguchi, president of The Graduate School for the Creation of New Photonics Industries (GPI), described how the city's location, landscape, and climate, made it a microcosm of the nation. "The unique environment, combined with close ties between academia, industry, government, and finance, makes the region a perfect testing ground for startups, regardless of where they are headquartered," added Hamamatsu City officials.

3. Determination

Another recurring theme participants heard throughout the tour was "social purpose." Shunsuke Toya, CEO of ProDrone, explained how a flying mini-truck concept was the answer to their aspiration to solve societal challenges such as aging or inaccessible communities, maritime disasters, and terrorist attacks. Their belief led them to develop a variety of industrial drones specially designed for goods delivery, sea & air integration, long-range heavy-duty, and surveillance. Earlier this year, they partnered with a pharmacy chain to deliver medicines to remote areas of Japan. However, they are determined to go further with a macho-drone that can carry a payload of 50 kilograms over a distance of 50 kilometers.

eve autonomy, founded by Yamaha Motor and TIER IV, is an automated cargo transportation service for factories. Given the shrinking population in Japan, balancing human labor reduction and the safety of the plants is a pressing issue. Business development manager Iwakazu Nishikawa described how their award-winning products outperform conventional AGVs, which had difficulties operating between multiple buildings. Before the joint venture, AGVs, or Automated Guided Vehicles, could neither cope with congested traffic on-premise, maneuver irregularities such as ditches/manholes or slopes nor divert from a fixed guided route.

Director Haruyoshi Toyoda, Hamamatsu Photonics Central Research Laboratory, and his team demonstrated what the microscopic photonic sensing technologies embedded deep inside various daily products do. Autonomous driving would not be without the technology used in high-resolution Light Detection and Ranging (LiDAR). It is a remote sensing technology that measures distance by irradiating laser light on objects and catching the light reflected with a photosensor. Furthermore, the team said, "we are committed to continuously improving the performance of our lasers and sensors because it is a vital ingredient to achieve fully autonomous driving."

Participants also learned that the element of sound (or noise) was an unsung hero in driving safety. The operating officer of Yamaha Corporation, Electronic Devices Division, Nobukazu Toba explained how their longstanding expertise in acoustic research is being applied to Electric Vehicles (EVs) available today. EVs are silent. However, noise helps pedestrians know that a vehicle is approaching. Likewise, an accelerating sound helps drivers recognize speed. He also indicated that the company is in discussions with a Finnish startup to equip cars with warning sound signals (ie. bells and whistles in the driver's seat) coupled with vibrating features to discriminate from which direction the danger originates. "Acoustics and vibration have a lot in common."

Keiko Ihara, a Japanese race car driver, and first female driver to stand on the FIA World Endurance Championship (WEC) podium in 2014, founded Future Inc. two years ago to save her hometown's economy from deteriorating because of the pandemic. The series of carbon-neutral, maximum efficiency, lightweight e-bikes she designed takes many of its cues from racing cars. But her ultimate goal is to create a mobility-sharing service connected to a regional online portal of e-commerce, delivery, clinics, internet banking, and govt services. The grand vision of this new business model will not only revive local resorts and tourist spots, as she initially sought, but may even transform petrol stations into evolving community centers where people come together.

"The funds raised by startups in Japan are small compared to other parts of the world," noted Ihara in her talk. However, she cited Prime Minister Kishida positioning 2022 as the first year for actively fostering the founding of startups. "I believe clusters and pockets of communities all over Japan will start to connect to form an even bigger network of ecosystems. Because," she humbly added, "there is only so much you can do alone."

About the Central Japan Startup Ecosystem

There are 371 startups in Central Japan, of which 150 are university-launched. An estimated 18.615 billion yen (as of July 2022) of funds have been raised, in addition to accelerator programs, financial support systems, and innovative university seeds. Collaborative partnerships with Station F, INSEAD, BLOCK71, Paris&Co, Bpifrance, Venture Cafe, Plug and Play, Israel Innovation Authority, Tsinghua University, China Medical University, National University of Singapore, The University of Texas at Austin, Stanford University, North Carolina State University, University of Nebraska and the Indian Institute of Technology Hyderabad attract a diverse range of entrepreneurs to the region. For more information, please visit https://central-startup.jp/en.

Scheduled to open in 2024, STATION Ai will be a world-first, top-notch global innovation center. The center will provide a one-stop, one-loop link to world-class startup support programs through liaison with leading-edge startup support bodies and universities. Please visit https://www.aichi-startup.jp/english/support/.

About the Central Japan region

In July 2020, Aichi prefecture, the City of Nagoya, and Hamamatsu City of Shizuoka became one of the four regional Startup Ecosystem Global Base Cities groups designated nationwide by the cabinet office. The GDP of this region is 44,093.2 billion yen (as of 2019), mainly attributed to key industries such as Automotive, Aerospace, Machine Tools, Production Machinery, Iron and Steel, Musical Instruments, and Photonics/Electronics. The region's mission is to positively impact society by bringing the future of mobility to our doorsteps as soon as possible. The 6,731 km2 area is currently home to 8.29 million people, out of which over 300 thousand are foreign nationals – and will be a home-from-home for entrepreneurs and startups who share the same will and passion. In addition, various chill-out activities such as surfing, hiking, camping, paragliding, and ski/snowboarding are easily accessible. At the same time, seasonal marathon events and Formula One races are also hosted in adjacent cities. Furthermore, the American Chamber of Commerce, Tokai Japan Canada Society, Chubu Walkathon & International Charity Festival, and Nagoya Vegan Gourmet Festival are opportunities to meet like-minded locals.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Malaysian Investors take part in Indonesia Investment Forum in Penang

PENANG, Malaysia, Dec 2, 2022 – (ACN Newswire) – A total of 95 Malaysian investors took part in the Indonesia Investment Forum which was co-organized by the Ministry of Investment/Investment Coordinating Board (BKPM) of Republic of Indonesia and the Consulate General of the Republic of Indonesia (KJRI) Penang in Penang, Malaysia, Tuesday.

Promotion Director for Southeast Asia, Australia, New Zealand and the Pacific Region of the Ministry of Investment/Investment Coordinating Agency (BKPM) Saribua Siahaan said, "The ministry together with the Indonesian Consulate General in Penang received information that many potential investors in Malaysia were interested in investing in Indonesia, particularly, in Medan, North Sumatera and in Indonesia's New Capital City (IKN).

"Therefore, we have come here to directly meet and talk to the investors about the potentials," said Saribua. Malaysia is among the top 10 investors in Indonesia, with investment over the last 5 years (2017-2021) reaching US$ 6.76 billion.

Penang was chosen as the location for the event because the city is a manufacturing hub in Malaysia, hosting Excellence in Industry 4.0 through which it is expected to increase awareness and interest of Malaysian investors in investment opportunities in Indonesia.

"Malaysia is one of the biggest investors in Indonesia, mostly in Sumatra. And we hope the investment can be expanded in other locations, especially in IKN," said Saribua.

Consul General of the Republic of Indonesia in Penang, Bambang Suharto, added, "Penang as home to 300 MNCs (Multi National Corporations) and 3,000 SMEs (Small Medium Enterprises) has various similarities and closeness with Indonesia, namely the geography, community diversity and culture.

"Indonesia, as predicted by the OECD (Organization for Economic Co-operation and Development), will be the 5th largest economy in the world by 2045, and offers great opportunities to Malaysian investors to invest in Indonesia and grow together with Indonesia," said Bambang.

The event also presented a number notable speakers including Assistant Deputy for Investment Acceleration Strategy and Policy at the Coordinating Ministry for Maritime Affairs and Investment, Ferry Akbar Pasaribu; Head of the Indonesian Investment Promotion Center in Singapore Andria Buchara; Kuala Tanjung Industrial Estate Business Director, Saut Fransiswoyo Siagian; and the Medan Industrial Park Development and Operations Director, M Hita Tunggal.

Ministry of Investment (BKPM)
Investment Coordinating Agency
Email: info@bkpm.go.id

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GobizKOREA Releases a Virtual Exhibition Platform – Gobiz Town

Seoul, Korea, Dec 2, 2022 – (ACN Newswire) – GobizKOREA announced the release of ‘Gobiz Town’, a Virtual Exhibition Platform to present domestic small and medium enterprise products to overseas buyers.

*Gobiz Town View [virtual space designed with digital twin technology, and its scenery changes by four seasons]*

Gobiz Town is designed to provide a convenient experience to all without the restriction of time and space. It implies the ‘Go-Biz community’ with the exchange of domestic export companies and overseas buyers. With just a simple operation, users can look around the space as if users are strolling along the park. Various virtual halls are prepared for users to visit, such as:

Institution Introduction Hall
Export Products Exhibition Hall
Metaverse Conference Hall, and Event Hall.

Gobiz Town Exhibition Booth & Product Information [Product Details View, Inquiry Sending, and Sample Purchase are all available on a single screen]

Overseas buyers can explore the online exhibition full of items like cosmetics and food as if they are at the actual exhibition without any inconvenience of screen transition and loading time. Single click can take buyers to the booth they want by using functions like search companies, maps, and aerial views.

Furthermore, once overseas buyers click on the exhibited product in the company booth, they can check various product images, product details, and price. English brochure and video manual are also arranged which enable buyers to send inquiries, request consultations, and purchase a sample product.

Gobiz Town can also support 2 types of metaverse conference halls. One is for online consultation between seller and buyer. And the other is for small-scale webinars, which is perfect for the corporate PR & investment attractions. Along with programs like “Follow-up management with trade experts”, “Online export training”, and “Mentoring”, Gobiz will provide users totally new experience in “Trade”.

The GobizKOREA project manager stated, ” Based on the user feedback, we will continue to make efforts to share better digital-based exhibition/trade service.” She added, “Starting this online exhibition project, with the infinite potential of Gobiz Town, we will plan, expand, and present various online exhibition contents in cooperation with the local government & institutions moving forward.”

Gobiz Town is not only limited to an online virtual space, but also it becomes the opportunity to expand channel from Online to Offline (O2O) for actual exhibitions, supporting for effectiveness in online exports.

Media Contact
Tahee Kim, GobizKOREA
E-mail: Tahee@Gobizkorea.com
Website: https://www.Gobizkorea.com/
Phone: +82-70-4771-5882

SOURCE: GobizKOREA

Revealing crystal structures robotically

TSUKUBA, Japan, Dec 2, 2022 – (ACN Newswire) – Researchers at the National Institute for Materials Science (NIMS) in Japan have automated a complex and labour-intensive process for analysing the results of X-ray diffraction studies, which are used to determine the structure of crystalline materials. The team described the development and application of their technique in the journal Science and Technology of Advanced Materials: Methods.

By combining machine learning with robotic process automation, researchers automated a mathematical procedure that determines the structure of crystalline materials. (Credit: ktsdesign/123rf)

X-rays fired at a crystal interact with the geometric arrangement of its particles and are diffracted in many directions in a complex pattern of rays that depends on the crystal's precise structure. Experts analyse the pattern and intensity of the diffracted X-rays to determine the crystal's internal arrangement. This is a powerful and widely used process for revealing the three-dimensional atomic structure of new materials.

A well-established mathematical procedure, called Rietveld analysis, is used for interpreting X-ray diffraction data, but it is time-consuming and requires manual trial-and-error refinement of the results.

"To reduce human costs and resources, we have developed a robotic process automation (RPA) system that we apply to an existing Rietveld analysis program called RIETAN-FP," says Ryo Tamura of the NIMS team. "By using our new procedure, with the help of machine learning, we have succeeded in performing Rietveld analysis automatically," Tamura adds.

The automation can be run on a personal computer and can reduce human error as well as greatly speed up the data analysis.

Tamura explains that the field of materials science already relies on numerous graphical user interface (GUI) applications to calculate a material's properties, control experimental equipment, or analyse material data. He says that combining this new RPA and machine learning ability with these applications achieves a "closed loop" to automatically design and analyse materials with minimal human intervention.

The researchers verified the accuracy of their procedure by analysing samples of powdered compounds whose crystal structures are already known. The ability to determine the structures from powdered samples is one of the great strengths of Rietveld analysis. It avoids the need to grow large single crystals, which can be extremely difficult to obtain for some materials.

"Automating Rietveld analysis brings a very powerful new tool into the entire field of materials science," Tamura concludes.

The researchers are now working to further refine their procedure to make it suitable for more complex crystal structures. Another aim is to explore the use of their machine learning RPA strategy for more general applications in materials science. The possibilities include numerous simulation methods used for calculating material properties, and also applications for controlling experimental equipment. The success achieved thus far with X-ray diffraction could just be the start for Rietveld robotics.

Further information
Ryo Tamura
National Institute for Materials Science
Email: tamura.ryo@nims.go.jp

About Science and Technology of Advanced Materials: Methods (STAM Methods)

STAM Methods is an open access sister journal of Science and Technology of Advanced Materials (STAM), and focuses on emergent methods and tools for improving and/or accelerating materials developments, such as methodology, apparatus, instrumentation, modeling, high-through put data collection, materials/process informatics, databases, and programming. https://www.tandfonline.com/STAM-M

Dr. Yasufumi Nakamichi
STAM Methods Publishing Director
Email: NAKAMICHI.Yasufumi@nims.go.jp

Press release distributed by Asia Research News for Science and Technology of Advanced Materials.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Entrepreneur Day and Start-up Express help innovators adapt to the post-pandemic era

HONG KONG, Dec 2, 2022 – (ACN Newswire) – Seeking a balance between the youthful enthusiasm of start-ups and steady performance of established firms has become a key issue for Hong Kong, as its entrepreneur ecosystem matures. The HKTDC Entrepreneur Day (E-day) and Start-up Express International, organised by The Hong Kong Trade Development Council (HKTDC) and held at the Hong Kong Convention and Exhibition Centre (HKCEC), brought together industry leaders, experts, start-ups and participants to discuss the shift towards sustainable and inclusive growth within the international start-up universe and how start-ups can address the pressing challenges of the post-pandemic era. The three-day E-Day ran from 30 November to today and included the debut of the Start-up Express International entrepreneurship development programme.

Under the theme "Balance Beyond the Boom", the E-day attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminars

To celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day incorporated the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Business

Overseas start-ups from Mainland China, Germany and Korea discuss health tech trends with three Hong Kong Start-up Express winners

Under the theme "Balance Beyond the Boom", E-day and Start-up Express International offered physical and online seminars and exhibitions. More than 60 industry experts and renowned speakers analysed venture capital trends, offering insights on emerging industries and strategies for business expansion in a post-pandemic new normal through a series of forums, exhibitions, workshops and networking events. The event attracted over 9,000 attendees and viewers from 44 countries and regions to the hybrid exhibition and seminars.

HKTDC Assistant Executive Director Stephen Liang said: "E-day saw entrepreneurs from different sectors exchange their views on the various trends shaping the world of business. In particular, we are delighted that outstanding Hong Kong start-ups shone alongside their global peers at the pioneering Start-up Express International. The contest between local and international start-ups inspires enhanced business models and nurtures start-ups locally and globally. We believe E-day has served as an exceptional occasion to showcase Hong Kong's supportive infrastructure for the incubation of young businesses which will surely attract even more outstanding start-ups looking to expand operations in Hong Kong."

Fundraising in a competitive environment

Winning an investor's trust takes more than just a compelling pitch. Gaining trust has become even more challenging during the pandemic, where investors are cautious with fund deployment. On the first day of E-day, Eric Manlunas, Founder & Managing Partner of Wavemaker Partners, shared how venture capital firms had positioned themselves amid heightened volatility in the plenary session T-Chat – Global VC Investment: Rise or Fall. Mr Manlunas offered guidance on how early-stage businesses can convince investors of their potential and thrive, especially when venture capital investors are cautious about expanding portfolios.

Innovators transform entrepreneurship and economy

As non-fungible tokens (NFTs) transcend their initial role as assets and have evolved into a marketing tool, more entrepreneurs are considering NFTs as core business functions. The seminar "NFT: Eye Candy or Key to Gold?" debated whether NFTs are pure gimmicks or can expand business in a concrete way. Representatives discussed the tangible impact NFTs had on brand value and how they boosted business opportunities.

Meanwhile, to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, E-day included the 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Business. Under the theme "Achieving re-industrialisation through innovation in the new era", Herbert Chia, JP, Venture Partner of Sequoia Capital China, and Dr Denis Yip, CEO of ASTRI, discussed how small and medium-sized enterprises SMEs in Hong Kong could transform and re-industrialise via digitalisation and application of emerging technologies including 5G, IoT and metaverse.

The hot investment trend of sustainability has joined hands with innovation and entrepreneurship to promote a circular economy. The E-day gathered like-minded companies to explain creating sustainable supply chains, contributing to a more sustainable society. Melanie Kwok, Assistant General Manager (Sustainability) of Sino Group, outlined the Group's experience in implementing sustainability strategies and how start-ups had helped the conglomerate achieve sustainability goals and created shared values. Ms Kwok said the Group was delighted to collaborate with two Hong Kong start-ups – archiREEF and Clearbot – to drive conservation and environmental protection in Hong Kong, and looked forward to more projects on sustainability.

Fresh start-ups meet regional names

On the final day, technology start-ups described their successful growth into regionally known brand names. For instance, Jong Yoon Kim, CEO of Yanolja, a leading Korean travel-tech unicorn, explained how it managed to ride out the COVID-19 storm as well as its plans to equip itself for a new wave of growth as international borders re-open. Mr Kim pointed out that big-tech companies such as Amazon, Netflix and Google had come to dominate many global industries but such a player had yet to emerge in the travel sector, presenting an opportunity for Yanolja to potentially fill that void. He also shared the vision and strategy to transform Yanolja into the world's leading global travel platform.

Buy Now Pay Later (BNPL) is a short-term payment model that has grown in popularity among merchants and consumers, especially within the retail industry. In the afternoon, Trasy Lou Walsh, Regional Managing Director (SG, MY, HK, PH) of Atome, Asia's leading BNPL brand, described the model's landscape and its increasingly intense competitive environment as more credit card companies and banks joined the field to provide similar payment solutions to businesses.

Start-up Express International

To celebrate the fifth anniversary of the Start-up Express entrepreneurship development programme organised by HKTDC, Start-up Express International debuted on the second day of E-day, fostering discussions among innovative minds from all over the world across overseas start-ups and their local counterparts. The programme aims to encourage high-calibre foreign start-ups to set up in Hong Kong, and is supported by global partners from Belgium, Mainland China, Germany, Italy, Japan, Singapore, Korea, Turkey, the United Kingdom and the United States.

During Start-up Express International, 10 overseas winners shared the stage with eight Hong Kong Start-up Express laureates to discuss industry insights and their entrepreneurship journeys. The 10 global winners were selected by a panel of professional judges earlier. They are:

– inContAlert from Germany
– Contents.com from Italy
– Closer Inc. from Japan
– VegeSense; KnowCarbon; InxMed from Mainland China
– OTECH (Otsuka Technology) from Singapore
– AON from Korea
– MOBIQU from Turkey
– rThreat from the United States

A replay of the event, including highlights of the expo and forum, is available on-demand until 2 January 2023: https://eday.hktdc.com/conference/eday/en/programme

Websites
– HKTDC Entrepreneur Day: https://portal.hktdc.com/eday/en
– Start-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-international
– Photo download: https://bit.ly/3FhlKCl

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.

Media enquiries
Please contact Hill+Knowlton Strategies:
Joyce Kwong, Tel: +852 6842 5929, Email: joyce.kwong@hkstrategies.com
Nannerl Yau, Tel: +852 6846 7888, Email: nannerl.yau@hkstrategies.com

HKTDC's Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Business of IP Asia Forum sheds light on Global IP business opportunities

HONG KONG, Dec 2, 2022 – (ACN Newswire) – Intellectual property (IP) authorities and business leaders from across the world gathered to discuss trends, paradigm shifts and opportunities in the IP market at the two-day Business of IP Asia (BIP Asia) Forum, which concluded today. Jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR), the Hong Kong Trade Development Council (HKTDC) and Hong Kong Design Centre, this leading annual IP event attracted more than 14,000 online and physical participants from over 40 countries and regions to share insights, network and explore business collaboration opportunities.

The 12th Business of IP Asia (BIP Asia) Forum came to a successful close today

Policy Dialogue – Aspiration to Action: Co-creating a Resilient and Sustainable IP Ecosystem

The HKTDC and Chinese Manufacturers' Association of Hong Kong signed a Memorandum of Understanding (MoU) to boost mutual cooperation on technology commercialisation

The physical-online hybrid BIP Asia Forum, themed "Creating New Value, Discovering New Frontiers", was held at the Hong Kong Convention and Exhibition Centre (HKCEC) with physical sessions livestreamed. More than 70 seasoned industry leaders and well-established speakers outlined proposals to build a sustainable IP ecosystem and analysed the effective implementation of IP strategies for business expansion, while exploring the business potential of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through forums, plenary sessions, workshops and product showcases.

International IP experts share sustainable IP ecosystem insights

To cope with ever-changing global IP protection policies and thrive in a dynamic world amid technological breakthroughs, effective bilateral communication with market participants is of the utmost importance in the IP industry to establish its position and remain resilient through economic cycles. At the inaugural Policy Dialogue – Aspiration to Action: Co-creating a Resilient and Sustainable IP Ecosystem, a forum highlight, international IP experts exchanged valuable insights on enhancing the sustainability of the global IP ecosystem. Antony Taubman, Director of Intellectual Property Division at World Trade Organization (WTO) said: "We have witnessed a revolution in the way that intellectual property is traded and used to promote development and economic growth. Knowledge flow is also central to equitable development. The experience with COVID has shown that innovation and access to the fruits of innovation are essential and must be factored into all areas of policy and international trade. The Hong Kong government is right to position the city as a regional IP trading centre, and to provide the strategic, careful, integrated and systemic thinking required to make it work."

Summit focuses on re-industrialisation

The BIP Asia Forum's "Global Tech Summit" addressed the "Industrial Metaverse: Propelling Re-industrialisation in Hong Kong" topic. The HKSAR Government has actively promoted re-industrialisation to boost the city's sustainable economic growth. The summit brought together technology leaders and pioneers to analyse the transformation of the global manufacturing landscape and ways in which it could accelerate the revitalisation of Hong Kong's manufacturing sector. Having led artificial intelligence (AI) initiatives in the Asia Pacific, Simon See, Senior Director and Chief Solution Architect; Global Head of NVIDIA AI Technology Center, NVIDIA Corporation, shared his views on metaverse and re-industrialisation.

Simon See said: "Many people believe that the metaverse is only for social purposes. However, it is indeed highly relevant to how industries operate. Digital twins, for example, can assist businesses in developing simulations and increasing efficiency. To build the metaverse, many IP and digital assets will need to be created, and no single company can do it all. The private sector, the education sector and communities are all needed to help build various components. That is why we need the ecosystem to grow as quickly as possible for the metaverse to become a reality."

Educating IP users and owners on diverse topics

The sessions on the first day covered a diverse IP-related topics. Inspo Talk: IP issues Revolving KOL/Influencer Marketing was an informative session for IP users who actively deploy personalities on social media for marketing purposes. On the same subject, legal experts shared crucial guidance at the IP Do's and Don'ts on Social Media session. A talk on the Introduction to the Madrid System for the International Registration of Marks provided valuable information to innovators who seek to protect their creations.

Many firms are seeking to explore opportunities in the vibrant Association of Southeast Asian Nations (ASEAN), a fast-expanding trade bloc. On the second day of event, the Workshop on ASEAN Roadmap to Successful IP Commercialisation in a Knowledge-based Economy offered thoughts on how innovators could use inventions and expand in ASEAN. Another panel on business expansion brought together representatives from various fields, such as enterprises, research institutions, financial institutions and IP institutions, to exchange views on the latest technological achievements and IP financing within the GBA.

Education remains an indispensable part of the BIP Asia Forum. This year, collaborating with the Intellectual Property Department, the event continued to offer a wide range of training sessions for IP owners and users. Topics ranged from deployment of copyright and designs in the digital age to the application of patents and key concepts for IP trading. There were also sessions answering questions pertaining to legal issues arising from disputes over IP appropriation.

In the IPHatch Asia – Enabling Deep Tech Startups with IPs and Business Networks session, Jason Loh, Founder and CEO of Piece Future, analysed the role of IP and business networks in deep tech start-up development. Start-ups were invited to discuss the importance of IP in business development, share their entrepreneurial journey and offer advice on how to stand out amid the competition.

Co-organised by HKTDC and Hong Kong Productivity Council (HKPC) for the first time this year, the Innovation & IP Market included the Inno Showcase, Open Stage and Tech Consultation Salon. It brought together universities, R&D centres, start-ups, IP users and service providers to network and explore collaboration opportunities. Start-ups and SMEs also gained insights from various industry experts on trademark registration, IP and tech commercialisation, invention protection and capitalising patents.

The HKTDC and The Chinese Manufacturers' Association of Hong Kong signed a Memorandum of Understanding (MoU) today to boost mutual cooperation on technology commercialisation to develop and promote Hong Kong as a global innovation and technology (I&T) hub and regional IP trading center.

Business of IP Asia Forum website: https://bipasia.hktdc.com/en/
Photo download: https://bit.ly/3FlWDOE

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.

Media enquiries
Please contact Hill+Knowlton Strategies:
Rachel Zhu, Tel: +852 6816 5846, Email: rachel.zhu@hkstrategies.com
Jade Sin, Tel: +852 5646 8944, Email: jade.sin@hkstrategies.com

HKTDC's Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
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Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Cohen Milstein Files Lawsuit on Behalf of Northwest Biotherapeutics Against Major Market Makers for Market Manipulation

NEW YORK, Dec 2, 2022 – (ACN Newswire) – Today, Northwest Biotherapeutics (OTCQB:NWBO) filed a lawsuit against some of the largest and most influential market makers in the world, including Citadel Securities LLC, Canaccord Genuity LLC, G1 Execution Services LLC (a subsidiary of Susquehanna International Group), GTS Securities LLC, Virtu Americas LLC (including Knight Securities), Instinet LLC, and Score Priority Corp, alleging repeated manipulation of the company's stock over five years.

Northwest Biotherapeutics, a clinical stage biotechnology company focused on the development of DCVax(R) personalized cancer vaccines, is alleging that these market makers have been engaging in a deceptive market manipulation tactic known as spoofing, which involves placing huge quantities of sell orders to fool the market into devaluing the company's stock so the market makers can buy at a lower price. The market makers then immediately cancel the sell orders so they can reap profits, in this case to the dismay of current and future cancer patients, as well as at the expense of Northwest Biotherapeutics and its investors. This alleged illegal trading behavior has made it significantly more difficult for the company to raise the funds necessary to bring their cancer treatment to market, where the company believes it has the potential to extend the lives of thousands of patients.

"It's already underhanded to engage in market manipulation, but to do so at the expense of cancer patients, some of whom have no other treatments to place their hopes on, is unconscionable," said Laura Posner, Partner at Cohen Milstein Sellers & Toll PLLC. "We're looking forward to holding these market makers responsible for the harm they have caused, and bringing critical and necessary transparency to these markets."

Based on the detailed data presented in the complaint, one of the most egregious examples of this behavior occurred on May 10, 2022, at the very moment the topline breakthrough results of the Phase 3 clinical trial of DCVax-L to treat glioblastoma, the most common and aggressive form of brain cancer, were being announced at the prestigious New York Academy of Sciences medical conference. Despite the presentation of significant positive data, the company alleges that during and after the announcement the defendants engaged in extensive spates of spoofing, forcing the company's stock price down. In a market free from manipulation, the market response should have been strongly positive, not dramatically negative, in response to the positive news. Instead, the result was a $1.6 billion loss in market cap, with the share price dropping from the $2.05 high on May 9 to a low of 36.4 cents on May 10, 2022-a staggering decline of 82%.

Earlier this month, Northwest Biotherapeutics announced the results of this innovative clinical trial for DCVax-L in the prestigious JAMA Oncology journal in a peer reviewed article authored by over 70 brain surgeons and oncologists. The trial results showed that the vaccine was associated with a statistically significant and clinically meaningful life extension for the first time in many years in both newly diagnosed and recurrent glioblastoma, with the potential to more than double 5-year survival, and with almost no serious adverse event side effects. The company believes that this breakthrough vaccine technology may also pave the way for treatments in patients suffering from multiple types of solid tumor cancers.

The spoofing episodes against the company are alleged to have taken place repeatedly over a nearly five-year stretch, sometimes multiple times a day. Northwest Biotherapeutics alleges that it sold over 49 million shares at manipulated and devalued prices as a result of the market makers' actions. The company believes that the market makers directly impacted the price of Northwest Biotherapeutics' shares in the market by repeatedly and brazenly manipulating the market through their spoofing, causing Northwest Biotherapeutics to suffer significant losses as it sold millions of shares at artificially depressed prices and was slowed in bringing its encouraging drugs to market.

Northwest Biotherapeutics is represented by national law firm Cohen Milstein Sellers & Toll PLLC.

Contact:
Tess Roy, cohenmilstein@berlinrosen.com, 561-596-6443

About Northwest Biotherapeutics

Northwest Biotherapeutics, Inc is a clinical-stage biotechnology company specializing in developing cutting-edge cancer vaccines that are designed to treat a wide range of solid tumor cancers more effectively than the current treatments on the market and without the side effects of chemotherapy. The company has a broad platform technology for DCVax(R) dendritic cell-based vaccines, including DCVax(R)-L for operable tumors and DCVax(R)-Direct for inoperable tumors. The company's proprietary manufacturing technology allows efficient and cost-effective production of these innovative vaccines, with the full set of multi-year doses produced in one manufacturing batch and then stored frozen in single doses, making the treatment "off the shelf" throughout the treatment regimen while also being fully personalized. https://nwbio.com/

About Cohen Milstein Sellers & Toll

Cohen Milstein Sellers & Toll PLLC is recognized as one of the premier law firms in the country handling major, complex plaintiff-side litigation. With more than 100 attorneys, Cohen Milstein has offices in Washington, D.C.; Chicago, Ill.; New York, N.Y.; Palm Beach Gardens, Fla.; Philadelphia, Pa.; and Raleigh, N.C. For additional information, visit www.cohenmilstein.com or call 202.408.4600.

Disclaimer

Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as risks related to the Company's ability to achieve timely performance of third parties, risks related to whether the Company's products will demonstrate safety and efficacy, risks related to the Company's ongoing ability to raise additional capital, and other risks included in the Company's Securities and Exchange Commission ("SEC") filings. Additional information on the foregoing risk factors and other factors, including Risk Factors, which could affect the Company's results, is included in its SEC filings. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.

SOURCE: Cohen Milstein Sellers & Toll PLLC

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Austral Gold Begins Drilling at Jaguelito in Argentina

SYDNEY, AU, Dec 2, 2022 – (ACN Newswire) – Austral Gold Limited (ASX: AGD) (TSXV: AGLD) ("Austral") is pleased to announce that it started its first drilling program on 30 November 2022 at the Jaguelito project located in the El Indio Belt, San Juan – Argentina, close to the Veladero mine and the Alturas project.

Figure 1

The drilling program is pursuant to the option agreement (the "Agreement") with Mexplort Perforaciones Mineras SA ("Mexplort") announced on 11 February 2022 whereby Austral may acquire a 50% interest in the Jaguelito project by performing the following work commitments within the next four years:

– US$2 million in exploration expenditures, including drilling a minimum of 5,000 meters on Jaguelito (the "First Stage") by 10 August 2024, two years after the Agreement was approved by the Instituto Provincial de Exploraciones y Explotaciones Mineras de la Provincia de San Juan IPEEM.

– US$2 million in exploration expenditures on Jaguelito within two years after completing the First Stage (the "Second Stage").

Austral Gold's Chief Executive Officer, Stabro Kasaneva said: "As part of our strategic alliance with Mexplort, we are pleased to announce the start of our first phase of drilling at the Jaguelito project. Jaguelito is an advanced exploration project with a long history in the province of San Juan. Based on mineralisation of silver and gold intercepted in previous drilling campaigns, Jaguelito appears to have the same affected volcanic units that host a large zone of alteration having the same age as other large high sulphidation projects in the area."

DRILLING PROGRAM OVERVIEW:

Austral plans to complete the First Stage of approximately 5,000m of diamond drilling (DDH) in 15 to 20 holes at Jaguelito Norte and Jaguelito Sur.

– At Jaguelito Norte, five drilling targets have been identified and in this stage at least three targets are expected to be tested with 3,500 meters of DDH drilling. The program intends to prioritise the Capote – Alcatraz sector under a new concept of gold ore control related to northwest direction and to drill the La Cuna maar-diatreme complex, which we recently identified as the main or major control of the hydrothermal system in the area. The third target corresponds to the satellite body of the Guanaco Breccia.

– At Jaguelito Sur, preliminary work has identified five structures related to phreatomagmatic activity that may control the alteration and possibly mineralisation in that sector. Progress is being made in the delineation process and our objective is to define drilling targets to be tested with 1,500 meters of drilling.

Casposo-Manantiales Project located in the province of San Juan, Argentina

We are finalising our second drilling campaign in 2022 as announced on 19 September 2022 and anticipate receiving and announcing assay results soon.

About the Jaguelito Project

The Jaguelito project is an advanced exploration stage project located in located in one of the main districts of precious metals worldwide; the El Indio – Pascua Lama district in the Province of San Juan, Argentina. Its deposits, of the high sulfidation epithermal type of Miocene age, include mines in production, construction and exploration.

The Jaguelito project covers an area of 11,000 approximately hectares, and over 150 holes (~30,000m) were drilled by previous owners (Minera Penoles, Minera IRL) between 1996 and 2009. It is located approximately 225 kilometers northwest of the city of San Juan in Valle del Cura, Iglesias Department, San Juan Province, Argentina. Its central coordinates are 29 46' 20" West Latitude, 69 38' 15 South Longitude and a variable altitude between 3,600 and 4,300 meters above sea level. Jaguelito is a high sulfidation epithermal deposit related to a Miocene volcanism hosted in basement of Permo-Triassic age. Its mineralisation is related to a hydrothermal system controlled by northeast-southwest oriented faults and hosted in porous-permeable volcaniclastic units. These rocks allowed the circulation of precursor acidic hydrothermal fluids that strongly altered the rocks through which they circulated, generating a secondary porosity or vuggy silica, in the alteration cores. The high porosity product of the alteration served as a conduit for the posthumous hydrothermal fluids responsible for the mineralization of gold and silver.

About Austral Gold Limited

Austral Gold Limited is a gold and silver explorer and mining producer whose strategy is to expand the life of its cash generating assets in Chile, restart its Casposo-Manantiales mine complex in Argentina and build a portfolio of quality assets in Chile, the USA and Argentina organically through exploration and via acquisitions and strategic partnerships. Austral owns a 100% interest in the Guanaco/Amancaya mines in Chile and the Casposo-Manantiales mine complex (currently on care and maintenance) in Argentina, a non-controlling interest in the Rawhide Mine in Nevada, USA and a non-controlling interest in Ensign Gold which holds the Mercur project in Utah, USA.

In addition, Austral owns an attractive portfolio of exploration projects in the Paleocene Belt in Chile (including those acquired in the 2021 acquisition of Revelo Resources Corp), a noncontrolling interest in Pampa Metals and a 51% interest in the Sierra Blanca project in Santa Cruz, Argentina. Austral Gold Limited is listed on the TSX Venture Exchange (TSXV: AGLD) and the Australian Securities Exchange. (ASX: AGD). For more information, please consult Austral's website at www.australgold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
Jose.bordogna@australgold.com
+61 466 892 307

Ben Jarvis
Director
Austral Gold Limited
info@australgold.com
+61 413 150 448

Forward Looking Statements

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include Austral's plans to complete the First Stage of approximately 5,000m of diamond drilling (DDH) in 15 to 20 holes at Jaguelito Norte and Jaguelito Sur and that we are finalising our second drilling campaign in 2022 at the Casposo-Manantiales Project the as announced on 19 September 2022 and anticipate receiving and announcing assay results soon.

All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, business integration risks; uncertainty of production, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus,, uncertainty in the measurement of mineral reserves and resource estimates, Austral's ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond the Company's control, the availability of capital to fund all of the Company's projects, and other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

A Game-Changing Web3 Antivirus Hits the Market

Lisbon, Portugal, Dec 2, 2022 – (ACN Newswire) – Web3 Antivirus is launching on December 1, 2022, with a mission to become a reliable security guard for the Web3 community.

Fraud, scams, and phishing attacks are on the rise as scammers continually search for novel methods to unlawfully extract value from users. The more Web3 gains traction, the greater the need for efficient solutions to help users protect their assets. And this is exactly what Web3 Antivirus promises.

Web3 Antivirus (W3A) is a free open-source Chrome extension designed to help safely operate and collaborate in web3.

Powered by proprietary security audit frameworks, the tool guards users against signing dangerous transactions and dealing with suspicious assets. It shows an overview of potential red flags and technical risks associated with a transaction helping users make informed decisions about whether or not to proceed with it. What’s more, W3A simulates the transaction and displays what happens if it’s approved.

Web3 Antivirus does not ask for access to wallets, assets, or seed phrases, thus being a trustworthy security guard.

The extension also helps users steer clear of phishing websites: It checks domain names against its comprehensive database of blocklists and allowlists using AI similarity validation, identifies suspicious logic, and warns users if the website is dangerous.

W3A currently works with Ethereum and supports Metamask, Coinbase Wallet, and BitKeep Wallet, with other wallets to be added shortly.

According to Alex Dulub, the founder of Web3 Antivirus, “The key goal of the solution is to help the web3 community save billions of dollars by making the ecosystem a safer place to cooperate and work in, which will benefit all stakeholders in the long run.”

Social Links
Twitter: https://twitter.com/web3_antivirus
Medium: https://medium.com/@w3a
Linkedin: https://www.linkedin.com/company/web3-antivirus/

Media Contact
Contact: Xenia, Community manager, Web3 Antivirus
Email: support@w3a.tech
Website: https://web3antivirus.io

SOURCE: Web3 Antivirus

What is AVAX? Everything You Need to Know About Avalanche

SINGAPORE, Dec 1, 2022 – (ACN Newswire) – Welcome to this edition of 101 article exploring one of the staking coins on Moonstake. This time, we'll be looking at Avalanche and its native coin AVAX which has grown rapidly since its inception just a few years ago and is in the list of the most popular cryptocurrencies on the market.

What Makes Avalanche Unique?
Launched in September 2020, Avalanche is a Layer-1 blockchain that functions as a platform for dApps and custom blockchain networks. As a rival to Ethereum, Avalanche aims to dethrone it as the best blockchain for smart contracts with its impressive 4,500 TPS (transactions per second) output without compromising on scalability nor security.

Most notably, the EVM (Ethereum Virtual Machine)-compatible Avalanche network boasts a unique architecture consisting of three individual blockchains. All three chains serve a unique role and work together to run the Avalanche network, instead of letting a single chain handle all transaction processing like other blockchains on the market. Specifically:

– X-Chain (exchange chain): Handles transactions. Has a fixed transaction fee of only 0.001 AVAX and utilizes directed acyclic graph (DAG) technology to optimize speed.
– P-Chain (platform chain): Handles staking and validator activities.
– C-Chain (contract chain): Handles smart contracts, DApps, and DeFi.

Users can swap AVAX between these three chains and they are secured and validated by the Primary Network, a special subnet. On Avalanche, users can build their own custom blockchain network that is seamlessly interoperable with the broader Avalanche ecosystem. Custom subnets need to be a member of the Primary Network by staking 2,000 AVAX.

For its consensus algorithm, Avalanche operates its own protocol called Snow that uses Proof-of-Stake (PoS) as the foundation. The Snow consensus protocol aims to balance transaction speed, network capacity, decentralization, energy efficiency, and security. The Avalanche team also claims that its network boasts the "lightest hardware requirements of any blockchain platform" and does not implement slashing, making it a very friendly PoS chain for validators.

How Did Avalanche Become Popular?
Avalanche is one of the most popular blockchains out there for DeFi, with a thriving ecosystem of applications. It is home to market-leading DeFi platforms including the lending protocol AAVE, SushiSwap DEX, and the first regulated stablecoin TrueUSD.

Thanks to its robust technical architecture and DeFi ecosystem, Avalanche has become one of the most popular blockchains for DApp developers. In 2020, Avalanche raised 42 million USD in its ICO in just 24 hours.

Avalanche's Technical Milestones and Why Moonstake Supports AVAX
At Moonstake, we work to support the most demanded coins on the market. Here are some key milestones of Avalanche so far:

– 800 network validators by January 2021, less than half a year since Mainnet launch.
– TVL increased significantly from early 2021 and peaked at 400 million USD before the market crash in May 2021.
– By Q1 2021, users have moved more than $100M in assets from Ethereum to Avalanche, including $8.2M within the first 24 hours.
– By late November 2022, Avalanche network had processed 450 million transactions total, a 1507% increase from one year ago.
– Over 200 DApp projects are currently available on Avalanche, with many projects being cross-chain thanks to the robust bridging ecosystem around Avalanche.
– Avalanche has also secured institutional partnerships with major global companies like accounting firm Deloitte and publicly traded insurance company Lemonade, demonstrating practical use cases of blockchain and crypto for enterprises.
– Avalanche currently has over 1,300 validators securing its highly active network.

We can see that AVAX is a high-demand coin and Avalanche network is an esteemed blockchain project with active, continued growth and development. This makes AVAX a great and strategic addition to the lineup of PoS coins supported by Moonstake and we are working hard to bring AVAX staking to you very soon.

How AVAX Staking Works
You will have to transfer your AVAX onto P-Chain to start staking. When you hold assets in a P address, you make them illiquid. You will not be able to freely move your assets into your X address, and you cannot transfer them to another P address. To move assets from one P address to another, you have to send them back to your X address and then send them to another P address.

Users must have 25 AVAX to delegate/stake in the wallet, the minimum amount of time one can stake funds for validation is 2 weeks for a lock-up period. The delegation fee set by validators is the portion of the rewards that are paid to the validators. The minimum delegation fee is 2%. However, there is no slashing on Avalanche, staked tokens are never at risk of loss due to poor validator performance.

When a validator is done validating the Primary Network, it receives back the AVAX tokens it staked. The validators will also vote on whether the leaving node should receive a staking reward for helping to secure the network.

A validator will only receive a staking reward if they are online and response for more than 80% of their validation period, as measured by a majority of validators, weighted by stake.When a node leaves the validator set, the validators vote on whether the leaving node should receive a staking reward or not.

How To Get Rewards for AVAX Staking and How Unstaking Works
AVAX rewards earned from staking are handled on the protocol level, and rewards will automatically be transferred to you once they are earned. AVAX tokens must be staked for a minimum of 2 weeks and a maximum of 1 year, and the staking rewards (as well as the staked tokens) will be received by the user after the staking period ends.

References:
https://www.avax.network/
https://core.app/ecosystem/projects
https://el33th4x0r.medium.com/state-of-avalanche-q1-2021-2565921a36d8
https://coinmarketcap.com/currencies/avalanche/

About Moonstake

Moonstake is the world's leading staking service provider that develops and operates decentralized wallet services for businesses and individuals. Since its launch in April 2020, Moonstake has partnered with 27 leading platform providers, including Cardano's constituent Emurgo, developer of the Polkadot-connected blockchain Astar Network Stake Technologies, and the TRON Network with over 50 million users. In May 2021, Moonstake further enhanced its corporate credibility by becoming a wholly owned subsidiary of OIO Holdings Limited, a company listed on the Singapore Stock Exchange. Using blockchain technology, Moonstake aims to progress toward a world where anyone can easily make use of highly secure and reliable digital asset management tools. https://www.moonstake.io/

About Moonstake's staking business

For the staking industry, which has grown into a 630-billion dollar market as of September 2021, Moonstake provides a decentralized staking service that does not require user deposits, and supports nodes around the world in addition to its own validator nodes. Moonstake currently supports the staking of 18 blockchains. With a total staking assets of 1.8 billion USD and a global user base, the company ranked third out of more than 10,000 providers worldwide in June of the same year.

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. https://avax.network

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com