5 in 5 minutes - January 27th, 2017

HK's Horizons Ventures backs 3D printed car manufacturers Divergent 3D

The Los Angeles-based 3D printed car manufacturers has raised US$23 million in a Series A funding round led by Hong Kong-based Horizons Ventures, a technology venture capital fund founded by billionaire Li Ka-shing in 2006. The funding will be used to commercialize the manufacturing platform.

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HK's ActiMirror wins startup pitchfest

Hong Kong-based ActiMirror, a retail technology startup, has won a 10-way pitchfest in Retail’s Cutting Edge seminar, organized by Inside Retail Hong Kong during the StartmeupHK Festival. ActiMirror delivers emotional consumer experiences via a connected smart mirrors platform.

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HK-based Soundbrenner raises US$1.5M

Hong Kong's hardware startup Soundbrenner that makes wearable for musicians has raised US$1.5 million in a venture round. The funding will be used for product development and market expansion.

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Alibaba's Hong Kong Entrepreneur Fund sees encouraging result

Alibaba's Hong Kong Entrepreneurs Fund invested about US$10 million into Shopline, YEECHOO, Grana, GoGoVan, NOSH and DayDayCook. The six startups reported significant growth. Mrs. Cindy Chow, executive director of the Fund said "the performance of the six startups has shown that provided the right resources and support, the growth potential of Hong Kong-based startups is significant".  

The Alibaba Fund with continues to support Hong Kong startups through investments. The fund will also work with Hong Kong incubators and co-working spaces to promote Hong Kong as an international startup hub in 2017.

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Hong Kong Monetary Authority launches the Fintech Career Accelerator Scheme

The Hong Kong Monetary Authority (HKMA) and the Applied Science and Technology Research Institute (ASTRI) have launched the Fintech Career Accelerator Scheme ("FCAS") to nurture talents to meet the increasing need of FinTech talents in the city. The program provides internship for undergraduates and postgraduates students.

The accelerator scheme is supported by 11 banks and 9 universities, offering a total of 70 openings. The application closes on 4th February 2017.

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