Hong Kong Startup News Round Up - 21 April 2019

Blockchain Startup ConsenSys Seeks $200 Million From Outside Investors

Blockchain company Consensys is reportedly seeking investors to raise US$200 million. After speaking to investors in South Korea and Hong Kong, Consensys has not yet been able to find a lead investor.The pitch might be an uphill battle for the company, which has prioritized experimentation over finding a sustainable business model. 

ConsenSys, which employed some 900 people as of a month ago, is one of the largest U.S.-based crypto companies and has served as the most prominent champion of the Ethereum cryptocurrency network.ConsenSys brought in just $21 million in revenue in 2018, mostly from its enterprise consulting business, according to fundraising documents reviewed by The Information. The company has been seeking a valuation of at least $1 billion, a level that some prospective investors believe is too high given the company’s revenue and expenses, these people said.

Sina Finance Hong Kong Financial Institutions Awards

Do you love your investor? Do you think they deserve an award for their work? Look no further, Sina Finance, one of the most influential financial media companies in Mainland China is hosting the 1st Sina Finance Hong Kong Financial Institutions Awards in collaboration with The Centre for Investing at HKUST and S&P Global Market Intelligence. Nominate your investor!

Send in nominations for any of these 3 categories: The Best Investors to the Greater Bay Area, The Best Start-up Investors or The Best Fintech Investors! The awards ceremony will take place on the 22nd of May 2019 at the Hong Kong Exchanges and Clearing Limited (HKEX)

Airport Authority speeds up innovation with collaboration

The Airport Authority has been looking for innovative technology with the help of HKSTP due to pressure of increased expectations of services and  also increased challenges on a bigger and busier airport operation.

Their latest collaboration is on the Smart Airport Accelerator program under HKSTP’s Global Acceleration Academy (GAA). Launched last October, the three-month program was designed to accelerate innovations for the travel and hospitality industry. 11 startups were shortlisted to conduct proof-of-concept (POC) implementations of their innovations in a real-life airport environment, chosen based on their applicability to the airport and future potential. 

The program enabled the different startups to meet with vertical customers like the Airport Authority, conduct trials and figure out potential for the future. 

Startup Launchpad and WHub join forces to help connect startups to resources

WHub has signed an MoU with Startup Launchpad, the largest retail startup trade show in Asia! We are especially thrilled to join forces with Global Sources and Startup Launchpad.

Through this partnership, both WHub and Startup Launchpad will help not only the local community connect to the resources they need, but also soft land companies from around the world to scale their business in GBA and Asia.

Recruit.net partners up with WHub to grow the startup job market 

WHub has signed an MoU with Recruit.Net, a job search engine providing free and instant access to millions of jobs from thousands of companies via one simple search. 

Through this partnership, we will provide better visibility to the startups job market in Hong Kong and surrounding regions while also growing the startup ecosystem in Hong Kong!