Month: May 2024

• Personal savings can be a starting point for tech start-up funding, followed by seeking investment from friends and family.
• Angel investors are a potential source of funding, but pitching to them requires a strong business case and expertise.
• Crowdfunding platforms like Kickstarter offer opportunities for smaller investors to contribute to start-up funding.
• Venture capitalists provide significant investment and mentorship but demand a considerable equity stake in return.

• Chinese tech fund remains a contrarian play despite strong performance this year, according to Josh Brown
• Credit cards, loans, banking, mortgages, insurance, and personal finance options are highlighted
• Best credit cards, loans, and banking options are recommended based on different criteria
• Various insurance options such as life, homeowners, renters, and car insurance are discussed
• Investing opportunities like IRA accounts, Roth IRA accounts, and free stock trading platforms are outlined

Chinese Tech Fund: A Contrarian Play in 2024

In the world of investments, sometimes going against the grain can lead to unexpected success. Read more

• Xplor Technologies launches Xplor Capital to provide easier access to capital for small businesses, including fitness studios, based on sales volume from its SaaS products like Mariana Tek.
• Mariana Tek, serving fitness studios in the U.S., Canada, and the U.K., offers financing eligibility without credit requirements through Xplor Capital.
• Xplor Capital offers pre-approved funding ranging from $500 to $10 million with transparent fixed percentage repayment and quick accessibility within one business day.

• Effort to ‘Rip and Replace’ Huawei, ZTE tech in the US backfires due to a $3 billion funding shortfall
• FCC’s program to remove Huawei and ZTE equipment from networks struggling with lack of funds
• FCC Chair Jessica Rosenworcel warns of potential network shutdowns without additional government funding
• FCC’s Rip and Replace program prioritizes smaller carriers and ISPs in rural areas due to funding constraints
• US lawmakers, including Senator Maria Cantwell, working to secure additional $3 billion in funding for the program

Challenges in Rip and Replace Program Funding for Replacing Huawei and ZTE Tech

The effort to “Rip and Replace” Huawei and ZTE technology in the US, driven by spying fears, is facing significant hurdles primarily due to a funding shortfall. Read more

• China aims to mobilize “patient capital” for long-term investment in emerging technologies to drive economic development
• The term “patient capital” was coined by American economist Stephen Kaplan and is gaining significance in China’s official discourse
• Patient capital is crucial for funding tech start-ups with high risk exposure and lack of collateral
• To scale up patient capital, Beijing needs to issue policies to ensure funding remains patient and minimizes interventions
• State-owned enterprises should take the lead in backing start-ups in decisive sectors to attract private capital and set ground rules for long-term investment opportunities

Understanding Patient Capital in China

In a strategic move to drive economic growth through emerging technologies, China is looking to harness what they term as “patient capital.” Read more

• Blacklisted Chinese tech giant, Huawei Technologies Co., is covertly funding scientific research at U.S. universities through a nonprofit foundation.
• Huawei is the sole funder of a research competition administered by the Optica Foundation, awarding millions of dollars and attracting proposals from top U.S. universities despite restrictions.
• The foundation does not disclose Huawei as the funding source, maintaining confidentiality to avoid promotional implications.

• Huawei, blacklisted by the US government, has been secretly funding research at top US universities through the Optica Foundation since 2022.
• The Optica Foundation, a nonprofit organization focusing on communications and lasers, oversees a research competition solely funded by Huawei, drawing participation from professors at universities like Harvard.
• Despite concerns that Huawei could be used as a spying tool by the Chinese Communist Party, the foundation does not disclose Huawei as the funding source, maintaining confidentiality.

• Danti, an artificial intelligence company, secures $5M in funding for its Earth data search engine
• Founded by Jesse Kallman, Danti’s search engine uses natural language processing to collate data from various sources for government customers
• The search engine enables analysts to ask complex questions in simple language and receive quick, comprehensive answers
• Danti’s focus is on empowering analysts to work more efficiently, not replacing them, with the U.S.

• Recent awards from the U.S. Department of Defense are funding the construction of a hypersonic testing facility, flight experiments, and advancements in hypersonic technology at UCF.
• UCF is establishing itself as a global leader in hypersonics and space propulsion research with the new funding.
• Hypersonic propulsion enables air travel at speeds of Mach 6 to 17, with applications in commercial and space travel.

• Sistech Conference faced funding challenges a month before the event
• The conference empowers women in the male-dominated tech industry
• Despite sponsorship issues, the conference raised over $58,000 through donations and new sponsors
• Plans for future sustainability include hosting fundraising events in off-years
• Emphasis on the importance of corporate support for diversity initiatives

Women in Tech Conference Overcomes Funding Challenges

The Sistech Conference, a gathering aimed at empowering women in the tech industry, faced a major hurdle just a month before its scheduled date at the Hyatt Regency Bloomington on May 3. Read more

• Imec.xpand, a Belgium-based venture capital fund, launches a €300M fund to accelerate semiconductor and nanotechnology innovations in collaboration with imec.
• The fund focuses on breakthrough technologies like AI, ML, AR/VR, and photonics, as well as advancements in life sciences such as cell therapy and medical diagnostics.
• Imec.xpand aims to build companies that lead technological transformation by empowering startups to bring innovative technologies to market faster.

• Tech fund imec.xpand raises 300 million euros for deep-tech startups in Europe, focusing on AI, photonics, and biotechnology for medical diagnosis
• Fund established in partnership with Imec, a chip research institution in Belgium, with majority of funds from Quaestor Wealth Care
• Imec.xpand has a track record of supporting innovative companies, previously focused on semiconductors and nanotechnologies
• Investments made in high-tech companies around the Leuven research institute, including unicorns PsiQuantum and Celestial AI
• Expansion plans into the Netherlands, with investments in Axelera AI, Scil, and Onera, and a new branch opened in Amsterdam’s financial district

Investment Fund Imec.xpand

• Norfolk fintech sector could be worth £100m by 2027, with 24 fintech companies raising £49m in investment
• Norwich drives economic and fintech growth in Norfolk, recording highest real output per hour growth in UK cities
• Funding opportunities in Norfolk are limited, with majority coming from Snoop’s £33m raise
• Norwich has a strong insurtech presence, with high concentration of insurance workers and major companies like Aviva
• Recommendations include attracting more financial services brands, raising awareness of fintech opportunities, and creating a regional fintech entity for the East of England

Norfolk Fintech Funding: A Closer Look at the Growing Sector

In Norfolk, a county known for its scenic towns and waterways, a hidden gem is emerging in the form of the fintech sector. Read more

• Private funding for climate-tech startups in Nigeria has increased, with businesses raising over $3.4 billion since 2019.
• Rensource Energy, a company providing solar and battery-based power solutions, is benefiting from the rise in private funding.
• African countries need to address risks like currency instability to attract more investors for climate-tech initiatives.
• Climate tech startups in Africa raised $1.04 billion last year, a 9% increase from the previous year and triple the amount raised in 2019.

• DeepKeep secures $10M in seed funding to bolster GenAI protection efforts, providing AI-native trust, risk, and security management for large corporations relying on AI, GenAI, and LLM.
• Founded in 2021 by Rony Ohayon, DeepKeep utilizes GenAI to safeguard the entire AI lifecycle, offering a competitive advantage to organizations in defense and budget growth.
• DeepKeep’s platform enables data scientists and CISO teams to understand AI system risks and challenges, providing comprehensive protection and alerts for global enterprises in finance, security, and AI computing sectors.

• African climate startups are receiving more funding, but there is still a significant funding gap to address.
• Private sector funding for climate tech startups in Africa is increasing, with over $3.4 billion raised since 2019.
• African countries need to address risks like currency instability to attract more investors for climate initiatives.
• Climate tech startups in Africa raised $1.04 billion in 2023, showing significant growth in the sector.

• Niqo Robotics, an agritech startup, secures $9 million funding led by Brida Innovation Ventures and Omnivore Partners, propelling the company towards revolutionizing crop care through robotics solutions.
• The funding round boosts Niqo Robotics to a post-money valuation of approximately Rs 290 crore ($35 million), resulting in ownership changes with Omnivore Partners holding the largest external stake at 25.7%.
• Founded in 2015 by Jaisimha Rao, Niqo Robotics specializes in AI-powered Spot Spray Technology for precise crop care spraying practices, showcasing commitment to technological innovation.

• Pentagon’s science and technology funding for 2025 focuses on AI, space, integrated sensing, and cyber
• Undersecretary Heidi Shyu prioritizes 14 critical technology areas, including trusted AI, space, integrated sensing, and cyber
• S&T funding accounts for 2% of the Pentagon’s budget but is crucial for military modernization
• Majority of the $17.2 billion requested for fiscal 2025 is allocated to trusted AI, space, and integrated sensing and cyber
• Various pathways for technology transition include program of record, software upgrades, commercial utilization, and use by other government agencies

AI and Autonomy: Pentagon’s Focus on Trusted AI and Autonomy

The Department of Defense’s science and technology budget for fiscal 2025 is heavily focused on key areas, with trusted AI and autonomy being at the forefront. Read more

• Innovaccer, a health tech startup known for aggregating patient data, is in advanced talks to raise $250 million in new funding, potentially valuing the company between $2.5 billion and $3 billion.
• The company’s cloud-based software integrates with existing electronic health record systems to provide healthcare providers with a comprehensive view of patient health data.
• Innovaccer aims to drive efficiency and growth in the healthcare industry by leveraging its cloud technology and architecture.

• NIIMBL announced funding for projects in bioprocess tech and training innovation, including intensified viral vector production and creation of “surrogate” antibody drug conjugates.
• ChromaTan and Batavia Biosciences are collaborating to integrate a novel downstream technology for adeno-associated viral vector production, aiming to reduce costs and increase yields.
• Enquyst Technologies, Lonza, MilliporeSigma, and University of Massachusetts Lowell are developing isoelectric point purification for continuous monoclonal antibody production.

• SMEs can apply for up to £10,000 from the DSIT SME Training Fund to cover training costs, part of the government’s £6.4m upskill fund.
• The UK Government’s Flexible AI Upskilling Fund supports SMEs in the professional and business services sector until 31 May for training delivery before March 2025.
• The fund aims to help SMEs in law, design, and human resources sectors train their workforce in AI to boost productivity and efficiency.

• **Decarbonise Freight Funding**: £1.8 million government boost to support SMEs in deploying AI and automation for more sustainable deliveries.
• Freight Innovation Fund Accelerator: Launched by Roads Minister Guy Opperman to enhance the UK supply chain and grow the economy.
• Success Stories: Examples include Royal Mail’s drone delivery in Orkney and FedEx’s eCargo bikes for efficient, decarbonised deliveries.
• Economic Impact: Previous funding winners attracted £97 million in commercial investment, decarbonising supply chains and creating jobs.

• Hydrogen power projects in Alberta receive $57 million in funding from Alberta Innovates and Emissions Reduction Alberta (ERA)
• Alberta Innovates invests $22.5 million for 20 early-stage projects through its Hydrogen Centre of Excellence in partnership with Natural Resources Canada
• ERA commits $34.5 million for eight late-stage projects through its Accelerating Hydrogen Challenge using funding from Alberta’s Technology Innovation and Emissions Reduction program
• The funded projects cover various aspects of the hydrogen economy, including production, storage, transmission, distribution, and usage
• Recipients have specific timelines to complete their work, with some Canadian tech startups like Ayrton Energy, Ekona Power, and Gradient Thermal receiving funding for innovative hydrogen-related projects

Exploring the Impact of Hydrogen Power Projects in Alberta

The Alberta government recently announced a significant investment of $57 million into 28 hydrogen power projects, marking a crucial step towards advancing the province’s clean energy goals. Read more

• UK tech incorporations reach five-year high despite funding slowdown
• 13,802 tech incorporations in Q1 2024, up 11% from previous year
• Record year in 2023 with 51,017 new startups
• London leads in tech incorporations, followed by South East and North West
• Cost of incorporating a UK business rises from £12 to £50, aimed at improving business register integrity

UK Tech Incorporations on the Rise

The tech industry in the UK has seen a surge in incorporations, reaching a five-year high at the beginning of this year. Read more