News from around the World – May 10

Startups in the fashion tech space are likely to find more support.

A round-up of news from the startup world:


Accelerating fashion
Online clothes retailer ASOS is following the example of Topshop in chasing the latest in fashion technology via a tie-up with Telefónica’s Wayra. The two have launched an eight-month-long accelerator programme at Wayra’s London ‘academy’ and are looking for ‘mature start-ups with a proven track record’ in the fashion tech space. ASOS and Wayra plan to invest a combined £34,000 for 5-10% stakes in the outfits they take a liking to. Unlike Topshop, though, ASOS isn’t looking to push into wearables or fashion design. In fact, leaning on its roots, the retailer wants to boost the logistics side of its business, which means it is on the lookout for outfits which complement its operations. That will translate into stuff like improving mobile and web experiences, technology to support the ASOS fulfilment proposition along with new ways of rewarding customers.

The ASX wants to block risky tech startups from listing
Early-stage tech companies with limited revenue could soon be blocked from listing on the Australian Securities Exchange to raise money, under new admissions laws being considered by the ASX and the corporate regulator. In the past two years there have been 105 tech company floats on the ASX and 45 per cent of these companies have had revenue of less than $1 million.

Vietnam Tech Startups Boom
Well-known for its relatively low-tech textile and agriculture industries, Vietnam is fast becoming a regional technology hub. Multinationals such as Samsung and Intel already have multi-billion dollar presences here (See: Vietnam’s High-Tech Hub: More Than Just Silicon Dreams), and Vietnam tech startups are now joining the scene in a big way. Though there are no concrete statistics on tech startups in the country, Japan’s SoftBank Group Corp. estimates that there are about 1,500 currently in operation. If correct, this would mean Vietnam has more startups relative to population than regional neighbors China, Indonesia, and India.

A Tale of Two Startup Worlds: Biotech And Tech VC Ecosystems
Startup ecosystems supported by venture capital are defined by dynamism, with the creation, growth, exiting or failure of new innovative companies conspiring to keep these entrepreneurial landscapes in constant change. Investor returns and sentiment are dramatically impacted by how these events shape and evolve those ecosystems. Two worlds exist in venture capital, at least from my vantage point: Tech venture capital, largely dominated by the 800-pound gorilla of software investing, and life science (LS) venture capital, predominantly focused on therapeutic biotech. These worlds largely live in different universes, and attempts to create a unified view default to represent the former given its scale.

PSA launches S$20m incubation programme to nurture logistics tech startups
PSA International on Monday unveiled its latest innovation initiative – a corporate venture capital arm and incubation programme known as PSA unboXed. With an initial fund size of S$20 million, PSA unboXed will invest in and nurture up to 20 startups in logistics technology, which has solutions for cargo automation, maritime trade transactions, data analytics and the Internet of Things.

MBA Grads Are Driving The Growth Of A Tech Startup Scene In Palestine – West Bank And Gaza
All along Israel’s disputed eastern border, checkpoints, road blocks, wire fences and 26 foot high concrete blocks shut out a population of close to 3 million Palestinians. But there’s life behind the wall. In the partially-recognized State of Palestine, young entrepreneurs are turning to technology and the internet as a way to bypass Israeli-imposed restrictions on movement and trade. A burgeoning tech start-up scene is giving Palestinians hope. And MBAs are at its center.

KamaTech launches angel investment network to boost Ultra-Orthodox startups
Israel-based KamaTech, an organization which aims to help build startups founded and operated by Ultra-Orthodox Jewish Israelis (Haredim), announced the formation of a new investment organization Sunday called 12Angels. The objective of the new group is to start channeling tens of thousands of dollars in new seed and early-stage investments to Haredi startups, specifically those working with KamaTech.

5 things you need to know in Australian tech today
The Australian government wants to regulate streaming services. The Australian Communications and Media Authority could be in charge of regulating streaming services such as Netflix, Spotify, ABC iView and even YouTube if changes from a review into the government agency are enacted. A draft report of this review was released on Friday, with many changes suggested, including the regulation of streaming services. Streaming services will fall under the “applications and content layer” of the agencies new horizontal “stack” of services.



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