Business & Economy Startups Today’s top tech news, Nov 01: Malaysian minister says won’t give in...

Today’s top tech news, Nov 01: Malaysian minister says won’t give in to cabbies’ demands to ban Grab




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“The government is aware of the problems faced by taxi drivers, but that it has to look at the issues not only from the perspective of taxi drivers but also that of passengers”


“Malaysia government will not give in to cabbies’ demands to ban Grab” [Channel News Asia]

The Malaysian government will not give in to the demands of taxi drivers who want ride-hailing services, in particular Grab, to be banned, Transport Minister Anthony Loke reiterated on Wednesday.

He said the government is aware of the problems faced by taxi drivers, but that it has to look at the issues not only from the perspective of taxi drivers but also that of passengers.

He also said that the ministry had come up with a “win-win formula” to protect the welfare of taxi drivers and drivers who use the services of ride-hailing companies.

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“Our purpose is to encourage taxi drivers to use e-hailing applications, whether it is from Grab or other companies,” he said when winding up the mid-term review of the 11th Malaysia Plan for the ministry.

Hyundai, Yield Capital launch US$100M hydrogen energy-focused VC [DealStreetAsia]

South Korea’s Hyundai Motor Company has teamed up with Beijing-Tsinghua Industrial R&D Institute (BTIRDI), a Chinese engineering institute, to jointly raise around $100 million for a fund that invests in hydrogen energy startups.

Hyundai Motor and Yield Capital, an investment unit under BTIRDI, will manage Hydrogen Energy Industry Fund, which will support startups with innovative ideas on hydrogen technology and infrastructure building.

The fund also aims to attract investments from leading venture capital firms based in China, Europe, and the US, according to a joint statement announcing the fund’s launch.

Rabobank’s Food Loss Challenge Asia announces top 5 finalists [press release]

Rabobank announced the five finalists amongst 20 of its Asia-based Food Loss Challenge initiative, which aims to identify innovative agtech startups to help solve global food loss problems.

The five finalists are CropIn Technology Solutions, Eachmile Technologies, Ecozen Solutions, Elixia Tech Solutions and Pula Advisors. They were selected at the recently held pitch day hosted in Singapore.

Besides vying for the five spots in the finale, the pitch day provided also opportunity to connect the startups to other startups, potential investors and other stakeholders. The teams presenting were diverse with most of their solutions showing a strong market orientation and adoption of technology and data analytics to help reduce food loss in an innovative way.

The top five finalises will present their food loss solutions to a panel of judges at Rabobank’s annual Asia Food & Agribusiness advisory board meeting on 15 November 2018 in Singapore.

HK Science and Technology Parks signs MoU with Japan’s Mizuho [press release]

Hong Kong Science and Technology Parks Corporation (HKSTP) has signed a memorandum of understanding (MoU) in Tokyo with Mizuho Financial Group, the financial institution with one of the largest financial services customer base in Japan, to jointly nurture and support high potential technology start-ups from both markets to their next level of development.

Both parties will explore long-term strategic partnerships to support the growth of startups in both Hong Kong and Japan’s innovation and technology (I&T) ecosystems, and strengthen the cooperation covering key technology fields, including fintech, biomedical technologies, robotics and smart city.

HKSTP and Mizuho will dedicate value-added support to startups extending from exchange of talent and knowledge, support from incubation and acceleration programmes, investment matching, to access-to-market.
HKSTP will introduce a new fintech-focused cohort next year under its Global Acceleration Academy
(GAA) with Mizuho being one of the partners to promote and encourage the development of fintech solutions, projection adoption and commercialisation.

GAA is an initiative HKSTP currently partners with international industry leaders to develop thematic
acceleration programmes.

Budding high-potential fintech startups from around the world can leverage on HKSTP’s and Mizuho’s networks to receive all manner of services including training, consultancy and mentorship as well as investment activities.

The post Today’s top tech news, Nov 01: Malaysian minister says won’t give in to cabbies’ demands to ban Grab appeared first on e27.

Source: E27

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