List of Startups Competing in the Inaugural “IngDan IoT Fund” Roadshow Officially Announced: 10 Shortlisted Startups to Enter into the IngDan Platform
18 July 2016, Hong Kong—The “IngDan IoT Fund”, which aims to promote and support entrepreneurs in their startup stages, has successfully held the world’s first “IngDan IoT Fund” Roadshow today. Taking place at the IngDan Hong Kong Experience Center in Hong Kong’s Cyberport, the “IngDan IoT Fund” Roadshow focuses on highlighting the work of startups committed to developing new innovations that take full advantage of the ‘Internet of Things’ (IoT).
A total of 10 projects were finally selected to participate in the roadshow. After careful deliberation, the panel of expert judges chose three outstanding projects: Archon Autonomous Drones (Archon, Italy), SmartAirCon (Remotec, Hong Kong) and Button Pouch (Air Button Technology, Hong Kong). All participating startup teams have been invited to display their products at the IngDan Hong Kong Experience Center, where they will be able to take advantage of supply chain and online-to-offline (O2O) services to accelerate their products’ push to the marketplace and even gain access to commercial opportunities overseas.
Commenting on the high expectations surrounding the roadshow, Ms Wang Wei, General Manager of IngDan Hong Kong, stated: “The IngDan IoT Fund received many applications from enthusiastic startups, with over half of those applications coming from overseas. The selected teams will be the first to take advantage of the IngDan platform’s unique and exclusive services. Each project’s future development potential will be carefully assessed to choose which one will go on to receive funding. I am confident that final results will be announced in the second round of judging.”
The panel of judges, consisting of experts from the fields of technology, industry, consulting, academics and finance, carefully evaluated each of the teams’ offerings to determine which projects were the most innovative and possessed the greatest market potential. The panel also provided the teams with their professional suggestions and opinions, as well as helped them better understand their products from a user’s perspective, so that they could make the appropriate improvements during development to better prepare them for the market. In addition to this valuable opportunity to communicate with experts in the field, the teams were also able to observe groundbreaking innovations from fellow entrepreneurs, allowing them to expand their horizons. They desire to participate in similar
events in the future to further increase their entrepreneurial knowledge and experience.
Mr Eric Yeung, convener at Smart City Consortium and one of the selected judges, stated that he is in full support of IngDan’s decision to set up the “IngDan IoT Fund”. Smart City Consortium has recently signed a memorandum of understanding with IngDan to work together to build Hong Kong into a smart city. Mr Yeung believes that applications of the IoT play a vital role in the construction of a smart city. He added that Smart City Consortium plans to provide the government with proposals outlining a blueprint for smart city development for the next 10 years.
The “IngDan IoT Fund” is a part of the IngDan platform’s crowdfunding service. A total of 10 projects from teams from around the world were selected in the first phase of “IngDan IoT Fund”. Six of these projects came from local firms: the MAD Gaze smart glasses, the A.I.L. hands-free luggage, Scooter Technology’s portable folding electric smart scooter, Remotec’s SmartAirCon, the iLapTimer automatic GPS lap timer and the Button Pouch (The second product from Air Button Technology, whose first product was awarded second runner up at last year’s IngDan i-Future Competition). They were joined by projects from two Italian teams: Archon’s next generation of autonomous drones and the CardioPad Pro biotechware. Also presented was a powered air purifying respirator from Taiwan’s ZZIZI and the GEM tiny computer platform from Gemsense in Israel. The majority of projects are either in their startup phases or are undergoing very limited small-scale production. They all have demonstrated enormous potential for future development.
Thanks to generous support given by partners, a number of prominent figures coming from a variety of backgrounds and fields have been invited to act as judges for the roadshow. These individuals all possess a great deal of experience in working with startups and entrepreneurs. They include: Ms Chen Lupescu, CEO of IngDan Israel, Mr Michael Li, Managing Partner of Tsing Capital, Mr Eric Yeung, Convener at Smart City Consortium, Ms Alice So, Senior Manager of Hong Kong Cyberport Management Company, Mr Mingles Tsoi, Director of the Startup Academy at KPMG China, Prof. Guoliang Xing, Associate Professor at Michigan State University, and Mr Francis Ng, Managing Director of Wearable IoT World.
The “IngDan IoT Fund” was established by IngDan, the world’s largest intelligent hardware innovation and entrepreneurship platform, in March of this year with an approximate funding of 400 million HKD. The “IngDan IoT Fund” aims to promote the development of new startups in accordance with the policies of the Hong Kong government. The “IngDan IoT Fund” sets no restrictions on nationality, background or age. Eligible projects are related to smart technology sectors like wearables, food, living and mobility. Through the promotion of these revolutionary new innovations, the IngDan IoT Fund aspires to help create a better life for our future.
IngDan is established in September 2013, a subsidiary of the Cogobuy Group (The code of The Stock Exchange of Hong Kong Limited: 400), is one of the largest one-stop IoT innovation and start-up platforms in the Mainland dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with its core being the “supply chain.” IngDan has established its experience centres in several countries such as Beijing, Shenzhen, Shunde and Hong Kong to welcome public to visit without any charge. They also provide multi-functional platform to demonstrate different creative intelligent hardwares while they will also assist youngsters to start their business to implement their dream. In view of the effectiveness, IngDan planned to open more experience centres in Japan, South Korea, Silicon Valley as well as Israel.
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