LAGOS, NG, Jan 1, 2024 – (ACN Newswire) – Some 20+ years ago, in what keen observers have described as a “leapfrog” and as “the telecom revolution”, Nigeria leapfrogged from 400 thousand landlines to 80 million mobile lines in months. It remains the largest singular developmental stride Nigeria has taken in its 63 years of existence. Structured mass adoption of new technology enabled Nigeria to circumvent normal step-by-step processes to arrive at its destination ahead of time, and ahead of others who were there before them in the Telecom Industry.
Deploying similar strategies,Nigeria can achieve similar outcomes in Clean Energy and Power, and in different areas of Technology. Take Artificial Intelligence (AI). McKinsey estimates that by the year 2030, the global AI economy will be at $16 trillion annually. (That’s larger than the entire American economy!)
So what will it take for Nigeria to stamp the AI revolution like we did in the Telecoms revolution?
I put this question to Ray Sharma a few weeks ago over dinner in an artsy and eclectic restaurant in London’s Tech City or Silicon Roundabout. Ray is one of earth’s most aggressive Technology Venture Capitalists with successes that include Expedia and Tinder. Ray agreed with me that primarily, it will take human resource.
Human resource is Nigeria’s abundant blessing. After India and China, Nigeria has the highest number of skilled Tech workforce in the diaspora. That’s an army waiting to be unleashed on the innovative gateway.
What about the in-country population? A whopping 160 million youth – below the age of 35. The vast majority of whom are smart, hungry, innovative, and trainable. Such a resource wealth can catapult any nation on earth when intention and strategy align. Recruit them and funnel them into Frontier Technologies. AI. Blockchain. Robotics. IoT, and the like.
Should Nigeria unleash her potential upon the AI space, with a modest ambition to capture 0.1% of the value of that emerging industry, in just 5 years, she would have created a $16 billion a year industry. And from just AI! Add Blockchain Technology, Fintech, IoT, Robotics, Clean Tech, Methanol and Hydrogen Production, etc, then you begin to envisage a horizon of endless possibilities.
What’s my point?
With her huge, young, smart, innovative and teachable workforce, plus a seemingly insatiable global tech market, Nigeria could create the kind of alternative national wealth and economy that will dwarf her entire budget and present economy.
Technology enables us to leapfrog, to deliver a Technology revolution, and create a new Nigeria with our international partners.
EdenBase (with Domineum) is partnering with us to create Tech Ecosystems like it did with London Tech City and in Switzerland. We are building out manufacturing capacity for Methanol and EV lithium-ion batteries. These will lay the foundation for our proposed AI-driven Renewable Smart Mini Grids to power our Innovation Parks and Tech Cities plus trigger massive manufacturing (Additive and Green) in partnership with Germany’s IMAPS Institute for Material Applications. We are building out the BPO (and other outsourcing) industry and will partner to prepare millions of Nigerian youth for careers in diverse technology-driven spaces ranging from the soft (data, AI, blockchain, etc) to the hard (hardware skills, welding, digital production, etc). We have partnered to develop and launch the world’s first mass V2X project where we manufacture/assemble Electric Vehicles (EV), powered by Renewable Energy (RE) with bi-directional charging/discharging capabilities that enables your EV to act as a generator that powers homes or factories after performing its ‘car duties’ of ferrying you around. Now that’s what a leapfrog looks like.
Clean energy and Intelligent RE Minigrids – powering and driving manufacturing. Productive Tech ecosystems – partnering world class institutions to trigger innovative startups on scale. These will drive the unleashing of the creativity of Nigeria’s enormous, smart, innovative and youthful population. They, in turn will drive the emergence of the new Nigerian economy, independent of fossil fuels, and constructed on the altar of Innovation, Science & Technology.
In 2024, Nigeria is truly open for business – the Business of Technology, Clean Technology. Those who missed the opportunities unearthed by Nigeria’s telecom revolution some two-decades ago, now have the opportunity to get on board this boundless Tech Revolution in the largest untapped single market on planet earth.
Is it possible to deliver these and more on scale? Can Nigeria leapfrog her way to near the front of the line in clean energy and power generation, green manufacturing and outsourcing?
You bet!
And in Nigeria’s Ministry of Innovation, Science and Technology, Minister Uche Nnaji is betting on it too.
Contact: Emeka Orjih, MBA (Wharton), Technical Adviser on International Cooperation & Finance to the Minister of Innovation, Science and Technology, Nigeria. emeka.orjih@scienceandtech.gov.ng
The Federal Ministry of Innovation, Science and Technology, Nigeria is one of the strategic Ministries of Government with the responsibility of facilitating the development and deployment of Innovative Science and Technology to enhance the pace of Socio-economic development of the country. www.scienceandtech.gov.ng
DUBAI, UAE, Dec 14, 2023 – (ACN Newswire) – Verofax, a leading compliance and commerce SaaS solution provider, has earned distinction as one of the top Future100 pioneering startups, selected by the Ministry of Economy and the Ministry of State for Government Development and the Future. This recognition underscores Verofax’s pivotal role in contributing positively to the UAE’s economy and enhancing its preparedness for the future.
The prestigious unveiling of the Future100 took place at the Award Ceremony hosted at the Museum of the Future, symbolizing a momentous occasion in recognizing and celebrating innovation. Future 100 has recognized Verofax for its innovative technology in decarbonizing industries and boosting the competitiveness of the country’s Industrial sectors.
H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, said “We congratulate the 100 companies that successfully made it to the final stage of the initiative’s first edition to become the best 100 companies of the future, possessing pioneering capabilities for growth and healthy competition,” Al Marri added “ We believe this is a turning point that will enable these companies to achieve more sustainable commercial success and access to regional and global markets.”
H.E. Ohood bint Khalfan Al Roumi, UAE Minister of State for Government Development and the Future, said: “Future100 has uncovered numerous startups and scaleups venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months.”
Over 45 evaluators and experts across different sectors evaluated the applications, conducting interviews with company officials using a predefined set of criteria. These criteria encompassed the capacity for innovative business models leveraging new technologies, the potential of the target market, the ability to engage key customers through a well-defined business plan supported by clear financial data, the feasibility of the business with a strategy for securing future financing, and consideration of the impact of environmental and social governance in both the UAE and global contexts.
Verofax’s automates compliance, traceability and verification
As more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across the supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.
Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on the interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling thresholds are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”
Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, and commodity provenance, prevents recycling double counting, across a tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.
About Future100
Future100 is a collaborative initiative between the Ministry of Economy and the GovernmentDevelopment and the Future Office, united in their mission to foster the growth of 100 pioneering startups pivotal to shaping the trajectory of the UAE’s future economy. This innovative initiative focuses on sectors of strategic importance, including space exploration, renewable energy, and emerging technology, with the overarching goal of establishing novel benchmarks for the country’s economic landscape. Beyond its immediate objectives, Future100 aspires to propel the UAE’s standing in global competitiveness, entrepreneurship, and investment rankings, thereby solidifying the nation’s position as a frontrunner in the ever-evolving landscape of innovation and economic dynamism.
About Verofax
Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.
HONG KONG, Dec 10, 2023 – (ACN Newswire) – The Business of IP Asia Forum (BIP Asia Forum), jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Special Administrative Region Government (HKSAR Government), along with Entrepreneur Day (E-Day) hosted by the HKTDC, attracted more than 140 international intellectual property (IP) experts and business leaders who explored how IP and innovation enhance business growth and boost start-up collaboration.
The events, held on 7-8 December, offered a plethora of engaging activities, including forums, exhibitions, competitions, workshops and business matching, with more than 350 exhibitors from IP, innovation and technology (I&T), start-ups and sustainability taking part to network, exchange insights on the latest in IP and innovation and seize business opportunities .
More than 200 business matching meetings were held at Entrepreneur Day. The BIP Asia Forum welcomed over 2,500 participants, while E-Day attracted more than 10,000 visitors.
With IP and innovation being inextricably linked, this year’s BIP Asia Forum was organised under the theme IP & Innovation: Steering New Economic Growth. The event kicked off with a Policy Dialogue – Powering Economic Growth through a Future-ready IP Policy, where international IP experts and government representatives discussed the latest trends in IP commercialisation, the economic value it generates, related legal issues and future policy direction.
Rowel S. Barba, Chair of the Intellectual Property Rights Experts Group of the Asia-Pacific Economic Cooperation (APEC), said: “APAC economies need responsive, adaptable and future-proof IP policies to drive innovation that address environmental challenges, promote inclusivity and facilitate adaptable business practices. Collaboration between stakeholders is critical in order to create a balanced approach to IP protection. Benchmarking and identifying best practices can also ensure consistent IP protection across economies.”
Tech Firms and Experts Discuss IP Updates
The meteoric surge in the use of generative artificial intelligence (GenAI) has given rise to many legal issues, including copyright infringement over creative works generated by AI.
At the Forum’s Inspo Talk, legal experts discussed these legal issues and potential IP issues when engaging with the online marketplace. The conference also provided training courses for IP owners and users, covering topics such as the fundamentals of IP, IP disputes in e-commerce, copyright and design in the digital age, and trademark management.
Alongside the conference, IPHatch Asia gathered global tech pioneers to discuss their IP best practices. Previous IPHatch competition winners also shared their entrepreneurship journey.
In addition, the IP & Innovation Market gathered around 50 exhibitors showcasing over 30 innovations to further strengthen IP commercialisation and facilitate collaboration. Mr. Peng Maoxiang, Vice President of Intellectual Property Publishing House, one of the exhibitors, remarked: “The IP services industry in the Greater Bay Area is developing steadily, driven by strong demand for the industry, which is essential for business growth. Hong Kong’s IP services industry ought to be strategically positioned to draw innovators from both global and Asian markets. The city’s IP development should leverage its political, economic and industrial strengths. Events like BIP Asia, can foster an innovative environment, which is vital to promote IP development.”
Entrepreneur Day boosts collaboration
As HKTDC’s anchor start-up event, E-Day featured over 50 industry leaders from around the world sharing their insights and experiences. Over 200 business matching sessions and networking activities were organised alongside insightful seminars. The exhibition also featured over 300 start-ups, innovation projects and start-up support services from 11 countries and regions to facilitate collaboration opportunities.
In addition, Investment NSW from Australia took part in the event for the first time and brought along nine start-ups to demonstrate healthtech, green tech and smart city tech. Furthermore, start-ups heard from GBA incubators all there is to know about establishing a business in the region.
To encourage entrepreneurship among the youth, 50 local start-ups, supported by the HKSAR Government’s Home and Youth Affairs Bureau’s Funding Scheme for Youth Entrepreneurship in the GBA, participated at E-Day.
Moongate, a Hong Kong start up offering NFT ticketing and membership solutions, joined E-Day for the first time as a Start-up Express 2023 winner. Co-Founder Peter Hui said: “As a company that started two years ago, we are happy to participate in E-Day gives us the opportunity to meet face-to-face with business partners, attract potential investors as well as showcase our services. We connected with a venture capitalist who is interested in our market potential as one of the world’s top three NFT ticketing platforms. We are hopeful that it would be the first step towards securing potential investment.”
A venture capitalist from India, who serves clients from Saudi Arabia and Dubai, visited E-Day to source innovative tech solutions. He was particularly interested in a couple of start-ups offering sustainable solutions using robotics and innovative building materials that have market potential. He remarked that he was pleased that E-day provided the opportunity for him to connect with these start-ups and he would explore possible collaboration with them.
The venture capitalist also visited the booth of GreenCoat, an Australian company offering plasma-coating for windows that helps increase a building’s energy efficiency, to explore the possibility of piloting its products in other markets.
Embracing tech for a sustainable future
Various seminars and exhibitions were held across four major series, Emerging Trends for Tech and Innovation, Fuelling the Future, Market Exploration and Inspirational Masterclass. The series focused on the latest trends in I&T to equip start-ups and SMEs to help them seize market opportunities.
With the increasing importance of ESG globally, a seminar was held at E-Day on this theme. The seminar explored ESG best practices, sustainable development and brand building.
Additionally, international brand experts discussed ways to leverage the latest AI chatbot technology as a tool for brand marketing.
This year, the HKTDC once again organised Start-up Express International, the international edition of its long-standing start-up development programme, to attract overseas start-ups to expand their business in Hong Kong. Eight of the ten award-winning global start-ups shared their entrepreneurial journey at E-Day.
All BIP events are available on-demand now until 8 January 2024. Replay of E-Day events will be available from 9 January 2024.
IPHatch Asia gathered global tech pioneers to discuss their IP best practices. Previous IPHatch competition winners shared their entrepreneurship journey
The conference also provided a series of training courses for IP owners and users, covering topics such as fundamentals of IP and more
IP & Innovation Market showcased over 30 innovation projects to further strengthen IP commercialisation and facilitate collaboration
Over 10,000 visitors attended Entrepreneur Day, which was held under the theme of Building Resilience, Boosting Collaboration this year.
The seminar titled “When Technology and ESG Collide – Brand Strategies for Sustainability” explored ESG best practices and sustainable development
(From left to right) Alistair McEachern, Australian Deputy Consulate General to Hong Kong and Macau; Helen Sawczak, Senior Trade and Investment Commissioner for Greater China of Investment NSW; Gareth Williams, Australian Consulate General to Hong Kong and Macau; Stephen Liang, Assistant Executive Director, Industry Promotion of HKTDC; Ji Zhihong, Deputy Director of Futian District Investment Promotion and Enterprise Services Center of Shenzhen Municipality; and Smilely Lam, Director, Merchandise Trade and Innovation of HKTDC
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
HONG KONG, Dec 8, 2023 – (ACN Newswire) – InnoClub, a platform co-created by the Hong Kong Trade Development Council (HKTDC) and Hang Seng Bank for start-ups and SMEs in Hong Kong and the wider Guangdong-Hong Kong-Macao Greater Bay Area (GBA), is pleased to announce the three winners of the inaugural InnoClub Awards.
Hong Kong’s leading online medical platform iMeddy, F&B industry game changer DimOrder and fast-growing biotech start-up Decode Cure have been recognised for their ground-breaking achievements in healthcare, F&B and biotech, respectively, with the awards given on the final day of HKTDC’s annual Entrepreneur Day.
Established in 2021, InnoClub supports more than 1,000 start-ups and SMEs in Hong Kong and the GBA with their digital transformation and competitiveness, while promoting Hong Kong’s entrepreneurial spirit and innovation and technology (I&T) development. Aside from business matching, InnoClub organises gatherings, seminars and innovation showcases to facilitate the exchange of ideas and collaboration among its members. Coinciding with the platform’s second anniversary, the Awards recognise the achievements of InnoClub members.
Mr Stephen Liang, Assistant Executive Director of HKTDC, said, “The HKTDC provides comprehensive year-round support to SMEs and start-ups, helping them transform and grow and seize arising opportunities. InnoClub recognises the tremendous advances Hong Kong has been making in I&T and contributes to the sector’s continued growth. The inaugural InnoClub Awards recipients iMeddy, DimOrder and Decode Cure represent the latest generation of innovators in Hong Kong, reflecting our city’s status as a regional I&T hub.”
Mr Gilbert Lee, Head of Strategy & Planning and Chief of Staff to the Chief Executive of Hang Seng Bank said: “With our long-standing presence in the local market and a strong network in the GBA, Hang Seng Bank is dedicated to supporting the growth of start-ups and SMEs. InnoClub, which we established in partnership with HKTDC, provides a unique platform to drive the growth of its members. We offer comprehensive support, including networking, business matching, tailored banking services and marketing. The award winners exemplify the ways in which InnoClub enables their growth. We aspire to further enhance InnoClub and drive more success stories, similar to those of the award winners.”
Spotlighting rising talent
iMeddy has been awarded the InnoClub GBA Innovator Award, which recognises a start-up that has made significant contributions to I&T in the GBA, developing new and innovative products, services or technologies positively impacting the region.
As more young entrepreneurs from Hong Kong venture into the GBA, which has seen an increasing number of retirees choose to spend their retirement in the region, iMeddy seized the opportunity to address their medical needs.
The company has launched an online hospital in Nansha, Guangzhou. Their innovative digital platform enables Hong Kong doctors to serve as paramedics at their hospital. It also enables the seamless transport of medicine that are legally registered in Hong Kong to the GBA, providing reassurance and familiarity to patients accustomed to receiving care from Hong Kong doctors. With the Hong Kong SAR Government’s robust support of GBA entrepreneurs, iMeddy aims to expand its services to include Chinese medicine.
Mr Stephen Tsoi, Co-Founder and Marketing Director of iMeddy, said, “We are grateful to have benefited from InnoClub’s hands-on and direct support, which sets it apart from other start-up organisations. With InnoClub’s sponsorship and network, iMeddy was able to provide online Chinese medicine consultations to assist the elderly through community organisations. In the coming years, we aspire to expand our services in the GBA and extend our reach to Southeast Asia, with the continued support of InnoClub.”
The second winner DimOrder is the recipient of the InnoClub Industry Impact Award. This recognition is given to a start-up that has made significant contributions to an industry through their innovations, demonstrating leadership, creativity and expertise in their field.
DimOrder has developed a system that covers everything from meal ordering and check-out to restaurant management and ingredient procurement. With the support of AI and big data, it is helping restaurants realise their business expansion plans, automate their marketing strategies and supply chain management.
Mr Tim Lee, Co-Founder of DimOrder, said, “As the F&B industry is indispensable to our daily lives, it is crucial for us to address persistent pain-points that are common among many restaurants, so that the F&B industry can level up collectively. DimOrder is excited to create noticeable social impact in Hong Kong with over 1,500 customers currently. In addition, we hope to expand to Southeast Asia’s emerging markets, with the aim to not only be a service provider, but also build a landmark F&B ecosystem.”
The third and final award, InnoClub Rising Star Award, recognises an up-and-coming start-up that has shown exceptional promise and the makings of a future leader in their field by demonstrating creativity, leadership and a commitment to innovation.
Award recipient Decode Cure aims to develop a precise, rapid and user-friendly diagnostic solution to identify pathogens, using combined techniques of bioinformatic and big data analytics. Nearing the end of its four-year R&D phase, the biotech firm’s advanced technology detects pathogens causing complex disease, such as pneumonia and Alzheimer’s in under 24 hours. During the pandemic, it contributed to the Hong Kong SAR Government’s sewage surveillance programme, a cost-effective measure that allows the monitoring of variants, leading to the lowest possible impact on the community. The technology shortens the time to get results by 10 days, compared with clinical data.
Dr Bin Ye, Founder of Decode Cure, said: “In InnoClub, there are a lot of companies in the early development stages. They have great technologies and I believe our company can utilise some of the techniques of these companies for our commercial and marketing use. As we are pushing our product to the market, we can reach out directly to more potential customers thanks to InnoClub and Hang Seng’s large membership and clientele, which make this a great vehicle and opportunity.”
(from left to right) Nancy Cheng, Principal, Strategic Planning and Corporate Development, Hang Seng Bank; Alex Wong, Head of Sales and Client Coverage of Business Banking, Hang Seng Bank; Stephen Tsoi, Co-Founder and Marketing Director, iMeddy; Gilbert Lee, Head of Strategy & Planning and Chief of Staff to the Chief Executive of Hang Seng Bank; Stephen Liang, Assistant Executive Director, HKTDC; GBA Innovator Award Awardee, Industry Impact Award Awardee Tim Lee, Co-founder, DimOrder; Rising Star Award Awardee Dr Ye Bin, Founder, Decode Cure; Smilely Lam, Director, Merchandise Trade and Innovation and Director, External Relations, celebrate exceptional achievements of awardees at the InnoClub Awards
The InnoClub GBA Innovator Award goes to iMeddy, which has launched an online hospital in Nansha, Guangzhou to cater to medical needs of young entrepreneurs and retirees in the GBA, providing reassurance and familiarity to patients accustomed to receiving care from Hong Kong doctors
DimOrder is the recipient of the InnoClub Industry Impact Award. Their system incorporates AI and big data, helping restaurants realise their business expansion plans. With 1,500 customers, the company’s ultimate aim is to build a landmark F&B ecosystem
InnoClub Rising Star Award goes to Decode Cure, which uses bioinformatic and big data analytics to detect pathogens that cause complex disease, such as pneumonia and Alzheimer’s in under 24 hours. It contributed to the Hong Kong SAR Government’s sewage surveillance programme, shortening the time to detect variants by 10 days
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
About Hang Seng Bank
Hang Seng is celebrating its 90th anniversary this year. Founded in 1933, Hang Seng has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.9 million customers.
Combining its award-winning mobile app and strong digital capabilities with a vast network of over 260 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere.
Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei.
As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community.
Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations. More information on Hang Seng is available at www.hangseng.com .
HONG KONG, Dec 7, 2023 – (ACN Newswire) – The 13thBusiness of IP Asia Forum (BIP Asia Forum), jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Special Administrative Region Government (HKSAR Government), along with the 15th Entrepreneur Day (E-Day) hosted by HKTDC, open today.
This is the first time both events are being held concurrently for two consecutive days at the Hong Kong Convention and Exhibition Centre, offering a mix of forums, exhibitions, competitions, workshops, and business matching sessions.
The two events bring together more than 140 industry leaders specialising in intellectual property (IP), innovation and technology (I&T) and sustainability, along with international IP experts. They will exchange insights on start-up trends, IP applications and brand strategy as well as explore business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and international markets. The events will showcase an array of products and technologies from over 350 start-ups and innovative projects.
Margaret Fong, Executive Director of the HKTDC; Michael Wong, Deputy Financial Secretary of the HKSAR; Dr Lu Pengqi, Deputy Commissioner of the China National Intellectual Property Organization; and Daren Tang, Director General of the World Intellectual Property Organization (WIPO), delivered remarks at the opening session this morning.
Ms Fong said: “A robust IP infrastructure needs to serve as the backbone for innovations, giving enterprises the confidence and capital to create. Hong Kong is a centre for innovation. It has world-class R&D and IP infrastructure, coupled with top-notch academic research and strong government support. The development of the GBA strengthens interconnectivity and cooperation among its cities across industries, including IP and innovation. This offers arising opportunities for businesses and fosters economic growth in the region and beyond.”
IP & Innovation steering new economic growth
The BIP Asia Forum, themed IP & Innovation: Steering New Economic Growth, gathers over 90 industry leaders to share their valuable insights.
At the Policy Dialogue – Powering Economic Growth through a Future-Ready IP Policy, Mr Tang said: “With COVID behind us, the world now needs to look forward and build new engines of growth for the future. This is why WIPO is focusing on IP’s role as a powerful catalyst for creating jobs, supporting business growth, giving hope to entrepreneurs, catalysing the creative economy and driving economic growth and development everywhere. Hong Kong, and the Greater Bay Area as a whole, is extremely well positioned to be a key global leader in this conversation. It is a centre of IP trade and innovation as well as a global platform for sharing ideas and perspectives for growth, not just in the region but also across the world.”
One of the first day’s highlights is the plenary session Underpinning Brand Success: IP Strategies in the Digital Era. It features Mayeul Dastugue, Legal Director of Global IP Enforcement of Christian Louboutin; Laurence Morel-Chevillet, IP and Brand Protection Director of Bulgari; and Mayank Vaid, Intellectual Property Director of Asia Pacific & China (Civil) of Louis Vuitton Pacific Limited. They will share their brands’ IP strategies for the digital economy and how they are utilising technology to reinvent their brands.
There are more in-depth sessions in the afternoon, including “IPHatch Asia – Empowering Innovation and Entrepreneurship with IP”, “Constructing a Renowned Greater Bay Area with IP”, “IP Collaboration and Competition in the Biomedical Industry in the Greater Bay Area”, and “Leading the Global Exchange of Digital Content and Intellectual Property Protection Development”. Speakers will delve into and exchange ideas on the latest trends and future development of intellectual property in various fields.
Global Tech Summit gathers renowned tech firms
At the Global Tech Summit on the Forum’s second day, Olivier Klein, Chief Technologist of Amazon Web Services Asia Pacific; Shing Lee, Cloud Solution Strategist (Data & AI) of Microsoft Hong Kong; and Dr Ginny Wong, Data Scientist of NVIDIA AI Technology Center Hong Kong, discuss the generative artificial intelligence (AI) trend and its impact on IP rights.
At another panel discussion tomorrow, legal experts share their insights on legal issues related to AI-generated content and third-party IP rights, and provide practical advice on how to manage such IP issues.
The Forum’s Innovation & IP Market brings together some 50 exhibitors and showcases more than 30 innovative projects from tertiary institutions, R&D centres and start-ups.
Furthermore, the ASEAN Secretariat and the HKSAR Government’s Intellectual Property Department have co-organised an ASEAN Session in collaboration with the World Intellectual Property Organization, which features experts from the ASEAN and Hong Kong IP industries.
Several authorised agents and international brand holders are also featured, including fashion brand MCM Group; S2O Factory, the organiser of the S2O Songkran Music Festival; B.Duck Semk Holdings International Limited and others. They discuss how to apply effective strategies to maximise the value of trademarks in today’s rapidly changing global business environment.
Entrepreneur Day: Innovation trends and opportunities in focus
Themed Building Resilience, Boosting Collaboration, E-Day showcases over 300 start-ups, invention projects and support services from 11 countries and regions.
The exhibition also provides opportunities for networking and business matching, while also offering I&T insights that enable start-ups and SMEs to seize new opportunities. It features cutting-edge projects, such as Hong Kong company IG INNO Limited’s painting robot, which applies 3D point or line laser technology to ensure painting precision. In addition, Zhejiang Flectothink Technology from Mainland China showcases its wearable EEG sleep monitoring device, with precision levels comparable to sleep monitor devices used in the medical field.
Separately, Investment NSW takes part in the event for the first time and brings along nine start-ups from Australia to demonstrate health tech, green tech and smart city tech.
This year’s E-Day sees participation from incubators from the GBA, who share all that start-ups need to know about establishing businesses in the area.
50 local start-ups under the Funding Scheme for Youth Entrepreneurship in the GBA, supported by the HKSAR Government’s Home and Youth Affairs Bureau, also join the event.
The first seminar of E-Day was T-Chat – Cooling the Cloud: Igniting Sustainable Innovation for a Resilient Future featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4. He received the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019.
He said: “Innovation means nothing without effective implementation. Even the smallest steps could make a difference in creating a sustainable data centre management system. Save energy as much as we can. It’s important that we at least try.”
The HKTDC is co-organising the Global Dialogue on Women Entrepreneurship session with The Hong Kong Federation of Youth Groups, which brings together three outstanding female entrepreneurs from Hong Kong and the United States, including Tonya McNeal-Weary, Founder and Managing Director of IBS Global Consulting, Inc.; Jenny Shen, Co-founder and CEO of Foodplus; and Chan Ming Wai, Co-Founder and Chief Clinical Audiologist of Tandle Limited.
Mrs McNeal-Weary said: “Women entrepreneurs face the same challenges no matter how physically far apart we are. E-Day is a great platform that allows us to connect with the world. To all the men, if you have a company, hire women. Don’t be afraid to let women aboard. We can bring a lot of different creations and more insights to the table, as we are different.”
10 global start-ups selected for Start-up Express International
Following the success of last year’s event, the second edition of Start-up Express International is being held again during this year’s E-Day. Eight out of the ten award-winning global start-ups have gathered at the Start-up Express International – Meet the Global Winners event to share their industry perspectives and entrepreneurial experiences.
InnoClub holds inaugural InnoClub Award Presentation Ceremony
InnoClub, co-developed by the HKTDC and Hang Seng Bank, features the inaugural InnoClub Award Presentation Ceremony at E-Day to recognise outstanding achievements of the awardees in I&T.
The 13th BIP Asia Forum, jointly organised by the HKTDC and the HKSAR Government, opens today
(From left to right) Mr David Wong, Director of Intellectual Property, HKSAR; Ms Margaret Fong, Executive Director of HKTDC; Mr Michael Wong, Deputy Financial Secretary, HKSAR; and Mr Simon Cheung, Managing Director of Nestle Hong Kong Co., Ltd took picture at the Nestle Eagle Brand photo booth. Since becoming the first registered trademark in Hong Kong in 1874, the Nestle Eagle Brand has secured the company’s growth for over 140 years.
Michael Wong, Deputy Financial Secretary, HKSAR
Dr Lu Pengqi, Deputy Commissioner, China National Intellectual Property Organization
Daren Tang, Director General, World Intellectual Property Organization (WIPO)
The first seminar of E-Day was T-Chat – Cooling the Cloud: Igniting Sustainable Innovation for a Resilient Future featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4. He is also the recipient of the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019.
The Global Dialogue on Women Entrepreneurship brings together three outstanding female entrepreneurs from Hong Kong and the United States, including (far left) Tonya McNeal-Weary, Founder and Managing Director of IBS Global Consulting, Inc.; (second left) Jenny Shen, Co-founder and CEO of Foodplus; and (second right) Chan Ming Wai, Co-Founder and Chief Clinical Audiologist of Tandle Limited
Following last year’s success, the second edition of Start-up Express International is being held again during this year’s E-Day
About 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
HONG KONG, Nov 26, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) and Hong Kong Special Administrative Region (HKSAR) Government are jointly organising the 13th Business of IP Asia Forum (BIP Asia Forum). The 15th Entrepreneur Day(E-Day) will also be hosted by the HKTDC. These two events will be held concurrently from 7 to 8 December at the Hong Kong Convention and Exhibition Centre.
The Hong Kong Special Administrative Region Government (HKSAR Government) and Hong Kong Trade Development Council (HKTDC), will hold the 13th Business of IP Asia Forum (BIP Asia Forum) from 7 December to 8 December.
The mix of forums, exhibitions, competitions, workshops and business matching at these events provide start-ups and small and medium-sized enterprises (SME) infinite opportunities to network, engage in dialogue and find ways to collaborate for success.
By utilising HKTDC’s exhibition and business matching services to find potential business partners or investors, the events promote IP commercialisation, facilitate industry-academia collaboration and showcase the advances in scientific research in Hong Kong.
HKTDC Deputy Executive Director Patrick Lau said, “The BIP Asia Forum and Entrepreneur Day are held concurrently to provide a holistic presentation of the journey from ideation and IP commercialisation to starting your business and scaling up. The two events have resumed as fully physical events this year, bringing together over 90 industry leaders and more than 350 exhibitors from IP, innovation and technology (I&T), start-ups and sustainability. The events promote cross-industry and cross-sector exchanges, driving business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
He added: “By facilitating interactions and exchanges between local companies, global industry leaders and internationally renowned speakers, we aim to equip event participants with a deeper understanding in diverse areas, ranging from the latest in start-up trends and sustainable development to new IP applications and opportunities.”
Business of IP Asia Forum:Steering New Economic Growth
Themed “IP & Innovation: Steering New Economic Growth”, the Forum brings together IP industry players and business leaders from around the world to discuss the latest IP developments and explore collaboration opportunities.
Dr Peter K N Lam, Chairman of the HKTDC; Michael Wong, Deputy Financial Secretary, HKSAR; Dr Lu Pengqi, Deputy Commissioner, China National Intellectual Property Organization; and Daren Tang, Director General, World Intellectual Property Organization (WIPO), will deliver remarks at the opening session.
Algernon Yau, HKSAR Secretary for Commerce and Economic Development, opens the Forum’s first session, the Policy Dialogue, with a welcome address. International IP policymakers discuss the importance of IP and innovation in stimulating worldwide economic growth in a conversation with Winnie Tam, Senior Counsel of Des Voeux Chambers. The speakers include Mr Tang; Rowel S. Barba, Chair of the Intellectual Property Rights Experts Group of Asia-Pacific Economic Cooperation (APEC); Santisouk Phounesavath, Chairman of the ASEAN Working Group on Intellectual Property Cooperation; and Dr. M. ZekiDurak, President of the Turkish Patent and Trademark Office.
For the Plenary Session, Mayeul Dastugue, Legal Director of Global IP Enforcement of Christian Louboutin; Laurence Morel-Chevillet, IP and Brand Protection Director of Bulgari S.p.A; and Mayank Vaid, Intellectual Property Director of Asia Pacific & China (Civil) of Louis Vuitton, share their brand strategy successes in the new economic landscape and discuss how the use of technology can reinvent brands.
At the Global Tech Summit, global tech leaders, including Olivier Klein, Asia Pacific Chief Technologist of Amazon Web Services; Fred Sheu, National Technology Officer of Microsoft Hong Kong; and Dr Ginny Wong, Data Scientist of NVIDIA AI Technology Center Hong Kong, deep dive into the latest trends of generative AI applications and their impact on IP.
The ASEAN Session, organised by the ASEAN Secretariat and the HKSAR Intellectual Property Department in collaboration with WIPO, features IP representatives from government and business in ASEAN and Hong Kong as well as experts, licensing agents and international brand owners, including MCM Group, S2O Factory, B.Duck Semk, who share their insights on ways to maximise the value of trademarks in today’s rapidly changing global business environment.
The two-day forum also features talks on a variety of topics, including IP collaboration and competition in the biomedical Industry in the GBA, and IP and dispute resolution in the age of AI, digital trade, IP protection and more. Additionally, there will be presentations by companies showcasing their latest innovations.
The IP & Innovation Market returns under the theme of Clean Tech, showcasing over 30 innovative projects from tertiary institutions, R&D centres and start-ups focused on recycling, sustainable energy, green materials, waste management and more to strengthen IP commercialisation and facilitate collaboration.
Entrepreneur Day: Latest Trends in Innovation and Technology
With the theme Building Resilience, Boosting Collaboration, some 30 industry leaders from around the world share their insights on the latest developments and trends in the start-up ecosystem at E-Day.
With the theme Building Resilience, Boosting Collaboration, some 30 industry leaders from around the world share their insights on the latest developments and trends in the start-up ecosystem at E-Day.
Showcasing some 300 start-ups, projects and support services, the exhibition area offers an opportunity for networking and business matching. An Australian delegation, led by Investment NSW, participate in E-Day for the first time, showcasing nine start-ups in health tech, environmental protection tech and smart city.
The Asia Exhibition of Innovations and Inventions Hong Kong, co-organised by The Hong Kong Exporters’ Association and Palexpo in Geneva and featuring over 110 innovations from Asia at E-Day, showcases global breakthrough inventions and technological solutions.
This year’s E-Day sees an increased participation of incubators from the GBA. The HKSAR Home and Youth Affairs Bureau invited 50 local start-ups under the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area to join the event. The scheme supports young entrepreneurs to establish their business in the GBA.
The seminars encompass four major series, including the Inspirational Masterclass Series, Emerging Trends for Tech and Innovation Series, Fuelling the Future Series and Market Exploration Series. On the first day, the conference will kick off with T-Chat featuring Serge Conesa, Founder and CEO of Swiss start-up Immersion4, which received the Most Innovative Use of ICT Award from the UN International Telecommunications Union (ITU) in 2019. At this seminar, he shares his entrepreneurial journey and explores the market potential of greentech in Europe and the Middle East.
At another session on the future of work on the second day, Daryl Lau, Sales Director of JobsDB Hong Kong; Leo Siu, Head of HRMS of Computer And Technologies Holdings Limited and Emrys Lam, Founder of HR Plus Limited, shed light on emerging trends reshaping the workplace and the ways in which these trends and new technologies influence talent acquisition and retention strategies.
On the same day, a seminar co-organised with GoGBA Business Support Centre in Futian features Zhang Yun, Minister of Vitality Promotion Department of the Futian District Investment Promotion and Enterprise Service Center in Shenzhen; and Chen Shan, President of the Guangdong-Hong Kong-Macao Greater Bay Area Innovation and Entrepreneurship Incubation Base in Guangdong. They highlight the latest policies and support services for start-ups, while Aldous Ng, CEO of CU Coding Limited, and Simon Cheung, Associate Director of BIM Limited, share their journey of establishing a presence in the GBA.
Last year, the HKTDC launched Start-up Express: International Edition to attract international start-ups to operate in Hong Kong and expand their business in the region. Following last year’s inaugural success, the event returns during E-Day with the support of 15 global partners from around the world, stretching from Mainland China to the wider Asia-Pacific region and Australia to Europe and the USA. On the first day of E-Day, this year’s seven out of 10 global winners join us in person.
As part of Start-up Express, the HKTDC provides comprehensive support to the top 30 start-ups through the Start in Hong Kong Programme. The support encompasses marketing, technical, business setup and peer support as well as mentorship to assist start-ups in accessing the markets of Hong Kong and the wider GBA.
InnoClub, a one-stop platform jointly developed by the HKTDC and Hang Seng Bank, is organising the inaugural InnoClub Award Presentation Ceremony on the second day of E-Day to recognise the exceptional achievements of InnoClub members in I&T. The three winners then engage in conversation on their entrepreneurial journey, which is followed by a networking reception.
Media representatives can complete the following form by December 7(Thursday) and email to hktdc@hkstrategies.com for pre-registration to receive a confirmation email for browsing Exhibition and Forum Website.
Members of the media wishing to interview speakers should email interview requests and proposed questions to hktdc@hkstrategies.com by 28 November.
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
DUBAI, UAE, Nov 22, 2023 – (ACN Newswire) – Verofax a compliance and commerce SaaS solution provider has been selected among the top Future50 climate tech start-ups by PwC Middle East to help enterprises’ accelerate on their path to Net Zero.
PWC had scoured the region and short-listed from 500 businesses across 11 categories of impact. Verofax was selected among top 6 Climate Change Management and Report (CCMR) startups for its sustainable traceability solution to help decarbonize industries and enable validated exports in line with recent regulations like EU’s Carbon Border Tax (CBAM).
PwC Middle East revealed the 50 pioneering start-ups in the Middle East at Net Zero Future50′ launch event highlighting the groundbreaking technologies and achievements in climate management and carbon emissions reporting, in addition to opportunities and challenges in growing and scaling climate tech businesses.
Dr Yahya Anouti, Partner at Strategy& and Sustainability Leader at PwC Middle East, said: “Climate tech innovation in the Middle East is being driven by some of the most dynamic entrepreneurs in our region, championing new technologies to accelerate the path to net zero. As we stand just days away from the world’s most important climate conference — COP28, taking place here in the United Arab Emirates, we are excited to shine a light on regional innovators whose organisations, we feel, are making the biggest difference in reducing emissions and accelerating decarbonisation in our region. The PwC Net Zero Future50 – Middle
East report identifies leading organisations in this space, and discusses the challenges they face in their ambition to grow and scale. Their range and diversity highlights the vibrancy of the start-up and small companies scene in the region. “
Verofax’s automates compliance, traceability and verification
As more countries are looking to decarbonize their economy, the EU and US have recently introduced regulations to curb imports of high-emission commodities such as steel, Aluminum, cement, fertilizers, chemicals and energy. The EU Carbon Border Tax regulation came into effect on August 17 and reporting became mandatory for exporters on October 1st. Existing ERP systems are not built to aggregate data across supply chain and prevent double counting. Thus compliance with operational standards for measuring and reporting in accordance with ISO 14064 standards becomes an unsurmountable challenge for exporters needing to have their multi-tier supply chain comply with such operating procedures, which increases cost significantly. Not complying is also not an option with up to 35% of revenue in tariffs levied at
European Union border customs. The problem necessitates commodity passporting and emissions tracking without the risk of double counting.
Wassim Merheby, CEO of Verofax, said, “Existing ERP systems are siloed by design, which hinders the capability of having immutable data and certifications verified on interoperable system for all stakeholders from material collectors to recyclers, exporters, customs and clients. Verofax offers an award-winning Digital Passporting and traceability solution for multi-tier supply chain verification, enabling seamless compliance and verification of Carbon emissions. The Gulf region trails behind India and other markets that recycle up to 80% of targeted commodities. Recycling can reduce emissions by up to 95%, thus markets with lower recycling threshold are at risk of being priced out of the EU market. The UAE for example, exports $1.5B to the EU mainly Aluminum, and recycles under 10% to date. With Verofax emission verification and commodity passporting, exporters have a great opportunity to trail a path towards export growth.”
Patricia Keating, Scale Lead at PwC Middle East, mentioned “In our analyses of the Middle East climate technology landscape, we see the founders of climate tech companies driving innovation that’s helping to reduce emissions and accelerate decarbonisation. We found that the largest share of our NetZero Future50 companies are working ontechnologies within the sectors responsible for most GHG emissions: With Industry, Manufacturing and Resource Management contributing 29% of Middle East GHG emissions and Energy at 46%.”
Verofax Digital passporting & Traceability solution for compliance verification automation ensures the validation of commodities emissions, commodity provenance, prevent recycling double counting, across tiered supply chain. By calculating and verifying low carbon emissions from mining or waste material collection, Recycling, repurposing and transportation, exporters will lower their costs and increase market access to EU & US in compliance with regulations.
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with nearly 328,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
Established in the Middle East for 40 years, PwC Middle East has 30 offices across 12 countries in the region with around 10,000 people. (www.pwc.com/me)
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
About Verofax
Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding PCT patents on Digital passporting, computer vision and AI analytics that enable intelligent supply chain and operations. Fortune 100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.
For media inquiries, please contact: Wassim Merheby, CEO, Verofax Email: info@verofax.com
ABU DHABI, UAE, Nov 2, 2023 – (ACN Newswire) – Verofax, an award-winning product validation and traceability solution provider, is thrilled to announce its selection as one of the top three winners of the Emirates Global Aluminum (EGA) Ramp-Up Programme. The programme attracted over 600 startups from around the globe, all vying for a chance to make a significant impact in the industry.
About the EGA Ramp-Up Programme
Emirates Global Aluminum, the largest industrial company in the United Arab Emirates outside of oil and gas, initiated the EGA Ramp-Up Programme to nurture the next generation of entrepreneurs. These businesses are expected to contribute to economic growth and job creation, particularly in the realm of low-emission commodity exports.
The programme, supported by C3, consisted of a three-month series of customized workshops focusing on business and impact for 20 finalist startups. These workshops were aligned with EGA’s strategic objectives of promoting growth and sustainability.
Verofax’s Unique Contribution
Verofax’s commodity validation and traceability solution empowers exporters to automate compliance and streamline border clearance at customs in regulated markets. This is particularly crucial given the European Union’s recent introduction of Carbon Border Tax regulations, which impose tariffs of up to 35% on non-compliant exporters of high-emission commodities like steel and aluminum.
Wassim Merheby, CEO of Verofax, said, “We are very excited to have won the EGA challenge for Growth and Impact. This win underscores EGA’s commitment to low-emission commodity manufacturing. We are thrilled to promote regional exports from the Middle East with our seamless validation and traceability solutions. The EU imports of targeted high-emission commodities amount to over $80 billion, mostly catered today by China and Russia. The new regulations open doors for near-shore exporting countries like the UAE and Saudi Arabia to benefit and increase exports.”
A Commitment to Sustainability and Growth
Abdulnasser bin Kalban, Chief Executive Officer of EGA, said, “Our goal with EGA Ramp-Up is to contribute further to the UAE’s economic diversification and development by supporting innovative young entrepreneurs to launch their impact-driven and sustainability-focused businesses. We hope our support will enable these companies to thrive and that some may even become EGA suppliers, further increasing our local procurement and supporting ‘Make it in the Emirates’ and achieving the UAE’s Operation 300bn industrial growth strategy.”
As part of the Entrepreneurial Nation strategy, EGA Ramp-Up supports achieving the Centennial 2071 goal of increasing entrepreneurship in the UAE.
“These startups represent some of the most promising talent in the UAE, and C3 is thrilled to have partnered with EGA to equip them with the tools needed to accelerate their businesses. Through our tailored mentorship programme, we have nurtured their growth trajectory, enabling them to create lasting impact,” said Kevin Holliday, Managing Director of C3 – Companies Creating Change.
About EGA
EGA is a global leader in aluminum production, with operations in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine and associated export facilities in the Republic of Guinea. EGA is committed to reaching net-zero greenhouse gas emissions from its operations and supply chain by 2050. Visit http://www.ega.ae/en/ramp-up.
About Verofax
Verofax is a compliance and commerce SaaS solution provider, validated by Microsoft and holding four patents on AI analytics that enable intelligent supply chain and operations. Fortune 100 enterprises across 50 markets have adopted Verofax solutions for securing their supply chain and connecting directly to customers. Verofax is committed to achieving Net Zero by 2025 and promotes global offset and community relief projects across the globe. Visit https://verofax.com.
For media inquiries, please contact: Wassim Merheby CEO, Verofax Email: info@verofax.com
DUBAI, Nov 1, 2023 – (ACN Newswire) – Verofax, an innovator in Brand & Retail solutions, was selected among 521 startups globally as the best solution offering for Web3 & Blockchain, at the GITEX 2023 Expo, Supernova Challenge in Dubai.
Verofax, a UAE-based startup and service provider for turning shopping & products interactive, has emerged as the winner of the 2023 Supernova Challenge at Expand North Star Dubai, the world’s largest startup event. The startup received the prize after rounds of pitching against global finalists.
Verofax’s groundbreaking solution combines interactive Product IDs with cutting-edge product recognition, enabled by advanced computer vision. This innovation has empowered consumers to:
Discover & Validate: Check before you buy product properties, ensuring complete transparency in terms of price, quality, and sustainability.
Engage Intimately: Through augmented reality, experience custom interactions that redefine brand loyalty.
Reap Rewards: Earn meticulously curated, personalized discounts anchored in individual purchase histories and preferences.
Verofax is on a mission to strengthen the bond between consumers and brands. This direct connection, established at the moment of purchase, accentuates trust and fosters unprecedented loyalty.
Wassim Merheby, CEO of Verofax, conveyed his gratitude, “We are profoundly honored by this recognition from the GITEX committee. It further fuels our mission – ‘Never trust, always verofax.’ As we look to the future, our resolve is only strengthened to bring forth innovations that redefine the consumer landscape.”
The Supernova Challenge is the biggest pitch competition in the Middle East, Africa and South Asia . The challenge is a key feature of Expand North Star Dubai, which hosted its biggest edition this year. It attracted over 1800+ startups from over 100 countries to explore the emerging opportunities in Dubai’s dynamic, diverse and tech-driven digital economy.
One of the judges at Supernova, Sharif El-Badawi, CEO of Dubai Future District Fund, commented, “The pitches we witnessed here at the Supernova Challenge are brimming with promise, unique innovations, and inspiring ideas.”
The Supernova Challenge Pitch Competition, a highlight of GITEX Global, in partnership with the Dubai Future District Fund, is the largest pitch competition in the Middle East, Africa, and South Asia. Startups vie for top honors in a range of categories, aspiring to become the next unicorn in the tech world.
Overall, thirteen category winners representing the USA, India, UAE, South Korea, France, UK, Nigeria, Switzerland, China and Bangladesh took home prize money:
Blockchain and Web3 Disruptor: Verofax from the UAE, a platform enabling real-time immersive shopper experiences instore and product quality validation.
Sustainability and ESG Disruptor: Zenerate from the USA, a platform providing AI-powered feasibility solutions for real estate development.
AI Disruptor: Knorish, a platform that enables hobbyists, professionals and niche experts to build, launch, market and sell online courses powered by their own knowledge and as an extension of their own brand.
Fintech and E-commerce Disruptor: Appro Technologies from the UAE, a digital platform simplifying retail banking onboarding.
Mobility and Smart Cities Disruptor: Innocel from France, a company providing clean energy solutions for a net zero future.
Healthtech and Wellness Disruptor: Skia from Korea, a digital surgery guide solution using augmented reality (AR) technology.
Martech Disruptor: Smartzer from the UK is a SaaS platform brands use to make live streams and videos interactive and shoppable to drive sales.
Female Founder Award: Matis from Switzerland, a platform empowering art market stakeholders with accessible and quantifiable tools for art authentication.
Africa Fast Award: Gifty from Nigeria, an app that helps people easily share gift lists with family and friends and avoid duplicating purchases.
Asia Fast Award: Urtopia from China, a company dedicated to revolutionizing urban transportation with its smart, sleek, and stealthy e-bikes.
India Fast Award: EyeROV from India, a marine robotics company providing underwater ROVs (remotely operated vehicles) to various industries.
Insurtech Disruptor: InsureCow from Bangladesh, a platform offering a 360° technology-powered cattle insurance and wellbeing monitoring solution.
MENA Award: Jalebi.io from the UAE is the world’s first restaurant operating system that helps restaurants save 5% on the cost of every order served.
The Supernova Challenge featured 40 finalist startups selected from the Expand North Star global roadshow, a series of international pitch competitions held by the Dubai World Trade Centre and DCDE to attract startups to Dubai and foster collaborations with digital ecosystems in various countries.
Expand North Star hosted by Dubai Chamber of Digital Economy (DCDE) is the powerhouse startup show of GITEX Global, organized by the Dubai World Trade Centre (DWTC) concluded this week marking its largest-ever edition at its new Dubai Harbour venue.
About Verofax
Verofax is a blockchain-enabled Brand and Retail solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’ solution is available across multiple cloud environments, helping Brands and retailers turn products connected for meaningful engagements with customers in store.
SINGAPORE, Oct 31, 2023 – (ACN Newswire) – REDEX, Asia’s leading Renewable Energy Certificates (RECs) solutions provider, announced today the successful completion of a USD 10 million Series A funding round.
REDEX’s mission is to accelerate the world’s transition towards renewable energy. The new funding will allow the company to expand beyond Asia, and to further innovate in streamlining and digitizing the issuance and trading of RECs.
Aramco Ventures led the investment, along with notable new investors from the Middle East, Southeast Asia, and Japan. Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise.
“REDEX is well positioned as the leading marketplace for I-RECs, which will enable renewable energy markets in many parts of the world. We look forward to collaborating with the REDEX team to extend this capability into new geographies,” said Bruce Niven, Executive MD, Strategic Venturing at Aramco Ventures.
Established in 2018, REDEX Group is a first-mover RECs player in Asia, offering a full suite of RECs management solutions covering asset registration, verification, trading, and retirement.
“We are witnessing tremendous growth in the adoption of RECs by brand owners striving to be 100% renewable, both for themselves and their supply chains,” said Jen-Wee Kang, Founder and CEO of REDEX. “The demand for green energy is very real, and the number of RECs issued and retired is more than doubling year on year. Building on the trust we have established with key players in the ecosystem, REDEX is well-positioned to play a leading role in the exponential growth of RECs adoption globally.”
As a concept, RECs are very simple – the instrument traces one’s power consumption to renewable energy sources. Its simplicity is precisely why the instrument is the most convenient and practical way for companies to achieve Scope 2 neutrality.
RECs are endorsed and adopted by RE100, the main consortium of leading brand owners committed to 100% renewable electricity. The consortium was originally formed in 2014 by 13 corporate partners. Today, RE100 has more than 400 members who consume around 400 TWh of power.
REDEX believes there is great potential to apply RECs creatively in the industrial sector, like for green aluminium, steel, and cement – commodities that are covered in the starting phase of Europe’s Carbon Border Adjustment Mechanism (CBAM).
In April, the company announced that it was the first API-integrated Platform Operator Account on I-REC, the world’s largest RECs registry. In June, REDEX also announced its partnership with China Southern Grid, supporting the grid operator in its role as an I-REC Issuer in China.
About REDEX Group Pte Ltd
REDEX Group Pte Ltd operates Asia’s leading trading platform for Renewable Energy Certificates (RECs). The company offers a one-stop ecosystem for RECs, supporting clients through the full RECs lifecycle – asset registration, production verification, marketplace, and retirement. As an early mover in Asia with a proven track record, REDEX is developing practical and innovative solutions to meet the clean energy needs of corporates globally. The company’s mission is to accelerate the world’s transition towards renewable energy.
Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, Aramco Ventures strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent, Aramco, primarily supporting the company’s operational decarbonization, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program.
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