DisruptInvest 2024:Chua Kee Lock of Vertex Holdings on the 3 key trends emerging, and the exit of momentum investors

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A snapshot of some of the investments made by Vertex Ventures Southeast Asia & India.

DisruptInvest 2024:Chua Kee Lock of Vertex Holdings on the 3 key trends emerging, and the exit of momentum investorsWith only three days until the DisruptInvest Summit on May 23rd in Kuala Lumpur, keynote speaker and one of the most successful venture capital firms in Asia, Chua Kee Lock ( pic ), CEO of Vertex Holdings, who leads a network of seven funds ( with Japan being the most recent ), with around 90 VC professionals, shares his quick thoughts with DNA on the tech trends he sees. We even questioned whether he thought Penang or Singapore had the tastier city food. ( Spoiler alert, his answer is not spicy. )

Can you introduce Vertex Holdings and its seven resources to us first?

&nbsp, Vertex Holdings, &nbsp, is a Singapore- based venture capital investment holding organization. A custom worldwide system of venture capital funds receives anchor funding and functional support.

&nbsp, At provide, we have seven community partnerships, each with different focus sections. Our Vertex community of cash invests in early stage technology prospects through Vertex Ventures, especially –&nbsp, Vertex Ventures China, &nbsp, Vertex Ventures Israel, Vertex Ventures Southeast Asia &amp, India, &nbsp, Vertex Ventures US.

We recently welcomed&nbsp, Vertex Ventures Japan into our Vertex global network which launched its inaugural ¥10 billion ( RM299.7 million ) fund with Vertex Holdings as its anchor investor. The account will concentrate on investing in leading Chinese startups with strong growth potentials in Deeptech, DX, AI, and the creator economy.

For our international funds, we have &nbsp, Vertex Ventures HC, which specialises in first- level medical opportunities and&nbsp, Vertex Growth, which targets development- stage opportunities across technology and healthcare sectors. &nbsp,
 
Each Vertex portfolio is run by its own General Partners, who manage each of its own local and regional partners. Collaboration and information sharing are promoted among the money through the Vertex international community. &nbsp,

Can you provide your opinion on the current funding landscape ( based on the sites and investment elements of the 7 Vertex money ) and the top 3 disruptive changes emerging from the network? &nbsp, &nbsp,

We do see pockets of prospects emerging throughout our community, given the breadth and scope of our global community. The flood of international technological disruption is underway, and the cost of developing new products is decreasing as a result. This results in exponential growth in computer power and a corresponding decrease in technology costs over time. In the last 20 years, many nations have established and maintained their modern facilities, facilitating the adoption of new technologies. &nbsp,

With the fast adoption of technology, we are witnessing some important changes emerging:

  1. Generative AI programs are changing the future of business, from boosting productivity to developing novel business models.
  2. The rise of” As- a- service” ( XaaS ) model – With a subscription basis model, businesses are transforming how they utilize technology.
  3. With the rapid progress in AI, we think these industries will use AI to strengthen their current software and choices. &nbsp, &nbsp,

Beyond AI as the current and future pattern, it is difficult to see beyond internet protection and the latest buzz. What are the changes Vertex sees, however, from your point of view?

&nbsp, &nbsp, &nbsp, With the general AI industry forecasted to reach around &nbsp, US$ 2.5 trillion by 2032&nbsp, and the relational AI industry poised to become at&nbsp, at&nbsp, US$ 1.3 trillion by 2032 it is no question why AI is changing the prospect. We believe AI have the potential to disrupt industries&nbsp, &nbsp, &nbsp, &nbsp, much like the internet revolution did as startups develop AI- enabled applications to transform industries.

Beyond AI, we also witnessed significant changes in the cloud computing space where the industry is moving towards specialized and intelligent cloud solutions. We see a rise in adopting hybrid and multi- cloud strategies, to leverage the strengths of&nbsp, &nbsp, &nbsp, &nbsp, different providers. The integration of AI and machine learning into cloud services will enable automation, optimisation, and deeper data analysis. Coupled with the growing focus on edge computing for real- time processing, the cloud landscape&nbsp, &nbsp, &nbsp, &nbsp, &nbsp, is&nbsp, becoming increasingly intelligent and distributed. &nbsp,

&nbsp, &nbsp, Secondly, the” as- a- service” model, often referred to as XaaS, is also experiencing remarkable growth. This model includes everything from infrastructure ( IaaS ) and platforms ( PaaaS ) to software ( SaaS ) and platforms ( PaaaS ) available on a subscription basis. Its&nbsp, &nbsp, &nbsp, appeal&nbsp, lies in the on- demand access companies have to cutting- edge technology at a cost- effective rate.

Cybersecurity is another area where we see significant advancements. The development of AI-powered attacks and specialized language models highlights the evolving nature of cyber threats. Both cyberthreat actors and cybersecurity teams ( including&nbsp, &nbsp, &nbsp, Information Technology and Operational Technology ) can leverage on AI to enhance cyberattacking tactics or respond against cyberattacks to prevent disruption. Lastly, big data and datafication are moving beyond mere volume to become&nbsp, &nbsp, actionable assets by leveraging on the power of data and AI to drive real- time decision- making. Datafication, the process of turning various information types into data, will continue to expand incorporating sources like the Internet of Things ( IoT ) &nbsp, &nbsp, and sensor networks. &nbsp,

Do you agree with the frequently stated claim that Southeast Asia is a market of 600 million or that it is much more geographically concentrated than that? Why do you say this?

Southeast Asia ( SEA ) is one of the world’s fastest- growing markets, and home to more than 600 million people. However, it is made up of a number of different nations, making it not a monolithic market. Investors should be aware of local preferences and cultural sensibilities, and they should n’t use a one-size-fits-all approach to all markets. &nbsp,

Despite recent decline, we think SEA continues to be a desirable investment destination and that Venture Capital (VC ) activities are still going strong. For instance, during COVID- 19, we witnessed a hyper investment pace between 2021- 2022 especially in Indonesia and Singapore startups. Since then, the investment pace has moderated. As concerns about the performance of existing investments arise, venture capital firms that have overinvested may instead devote capital to existing portfolios. While the overall funding has dipped, competition for high- calibre deals remain. &nbsp,

With “momentum” investors leaving the ecosystem, companies are focusing on fundamentals such as Product Market Fit, Scalability and Path to Profitability. In early-stage companies, we continue to see the development of novel and disruptive business models or technology applications, while growth stage companies are increasingly becoming more realistic about valuations by raising money at normalized valuations. &nbsp,

Which island do you feel has the more delicious street food, Penang or Singapore?

Both islands offer great options, each with its own unique flavours. Penang is renowned for its rich culinary heritage, which includes dishes like Penang char kway teow, assam laksa, and others that reflect the island’s diverse cultural influences.

Singapore, on the other hand, is famous for its hawker centres, where you can enjoy a variety of local favourites such as Hainanese chicken rice, laksa, and chili crab. &nbsp,

Personally, while I have a deep appreciation for Penang’s authentic and traditional street food, my personal preference, although slightly biased, leans towards Singapore. It is a favorite for me because of the variety and consistency of quality. Both locations are culinary have ns, so foodies from all over the world would enjoy what each has to offer.

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Lab-grown meat has a long way to go before mainstream acceptance in Singapore, experts say

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SINGAPORE: It was June 2022, and the lab- developed beef industry looked like it had a sizzling potential. &nbsp,

The largest planted chicken meat hospital in Asia broke ground in Singapore, with a 30, 000 square ft advanced at Bedok Food City, set to make “tens of thousands of pounds” of foods a year. &nbsp,

US-based Eat Merely, the company behind this outrageous opportunity, had plans to sell lab-grown chicken meat under the name Great Meat. &nbsp,

At the breakthrough service, Eat Only representatives from Singapore included Grace Fu, the Minister for Sustainability, and other ministers.

Indeed, in October 2022, the government announced it had set aside fresh funding of S$ 165 million ( US$ 122 million ) to accelerate R&amp, D in sustainable urban food production, future foods, and food safety science and innovation. &nbsp,

This was above the S$ 144 million of analysis money that was initially provided in 2020. &nbsp,

The first nation to review the purchase of lab-grown flesh was Singapore, with Huber’s Butchery in Dempsey Hill becoming the only restaurant in the world that sold lab-grown meat in the beginning of 2023. &nbsp,

However, it seems as though the economy is sluggishing in just two short years. &nbsp,

According to the Straits Times, Eat Only suspended its lab-grown beef production at the Bedok service in March of this year. The solution was discontinued by Huber’s Butchery in December of last year.

It was reported that Shiok Meats and Umami Bioworks, both of which are lab-grown shrimp, were merging in Singapore in the same month. &nbsp,

The market is sluggish not just in this area. The reduction of the sector was described in a February New York Times article, which had a promising beginning with investors investing more than US$ 3 billion between 2016 and 2022. &nbsp,

The entire sector is in jeopardy due to a combination of unrealistic optimism from investors and the realization that the science behind the product could n’t compete with consumer demand for lower prices and higher production volumes. &nbsp,

Sandhya Sriram, co-founder of Shiok Meats, wrote an emotive LinkedIn post in Singapore last May about the agonizing process of allowing 50 % of her team leave in 2023, and the online abuse she endured as a result. &nbsp,

She described the support investors and the media had for her designed lab-grown crab meat, such as crab and lobster, but her business, like many other planted meat companies, quickly encountered the ongoing challenge of scaling manufacturing.

She told CNA that while this challenge continues to annoy her business, it has more confidence in overcoming it now that Umami Bioworks has been combined. &nbsp,

Singapore continues to be a desirable location for cultivated meat startups, according to the Singapore Food Agency ( SFA ), the statutory board governing food safety and security. &nbsp,

Startups are encouraged to establish their R&D and pilot manufacturing in Singapore thanks to our proximity to the large Asian market and the robust food safety regulatory system, according to SFA in a joint response to CNA’s queries from Enterprise Singapore and the Economic Development Board. &nbsp,

The favorable setting allows them to test their technology and demonstrate the viability of their goods.

Despite the challenges, some cultivated meat firms are not backing down. On Wednesday ( May 15 ), Eat Just announced that it would begin selling hybrid meat made with only 3 percent lab-grown chicken and a lower-cost formulation.

According to one expert, the successful scaling and production of lab-grown meat may be necessary because the meat’s current production may not be sustainable for generations to come.

The National University of Singapore ( NUS) Institute for Health Innovation and Technology’s Associate Professor Alfredo Franco-Obregon stated that the livestock industry is not sustainable and that we must acknowledge this at some point. As a result, this science will advance once ( lab-grown meat ) is widely accepted.

Assoc Prof Franco Obregon, who is in his 60s, said this mainstream acceptance may not even happen in his lifetime, but he thinks it is inevitable. &nbsp,

” It will eventually be realised, because of the urgency of it”. &nbsp,

INDUSTRY PLAYERS QUIETLY OPTIMISTIC&nbsp,

Lab-grown meat producers in this country remain cautiously optimistic and believe that the cultivated meat industry’s heyday is yet to come. &nbsp,

Asked about their pause in production, a spokesperson from Eat Just, which the Good Meat label is under, said that it is still business as usual. &nbsp,

The pause is part of our regular operations, according to Ms. Carrie Kabat, director of global communications at Eat Just, who said:” We began producing and serving in Singapore in 2020. We produce and pause, produce and pause”.

She said this is a” campaign- style approach” to producing lab- grown meat. &nbsp,

Eat Just’s hybrid meat consisting of 3 per cent cultivated chicken meat went on sale at Huber’s Butchery on Thursday, priced at S$ 7.20 for a&nbsp, 120g package. &nbsp,

According to Ms. Kabat, Eat Just will produce three times more product than any previous year, which is roughly ten times what the rest of the cultivated meat industry has produced so far.

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Golden Gate Ventures lands first close of inaugural US0 mil MENA fund in Qatar

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  • Second near of account backed by some of Qatar’s most important people
  • Oman was drawn to VC firms because of their track record in creating SEA startup ecosystem.

Michael Lints, Partner at Golden Gate Ventures and Hussain Abdulla, Senior Advisor at Golden Gate Ventures.

Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, announced its first US$ 100 million ( RM468 million ) MENA fund at the Qatar Economic Forum held from May 14 to 16 in Doha. The second close of US$ 20 million ( RM93.66 million ) is backed by anchor investor, the multiple- faceted Al Khor Holding with 60 years of history, the Al Attiya Group known frequently for its tremendous help for developing local organizations, and Sheikh Jassim Jabor Al Thani.

The news of the first tight supported by the arches of Qatar’s private business community is a significant step forward in Golden Gate Ventures ‘ efforts to encourage innovation and entrepreneurship in the MENA area. The bank combines Golden Gate Ventures ‘ extensive experience with developing startups ecosystems in Silicon Valley and Asia with the collective local effect of its owners.

Oman was drawn to the VC firm because of their track record in developing the SEA business ecosystem. The first global venture capital fund to be established and managed in Qatar is the Golden Gate Ventures MENA Fund I. Michael Lints, Partner at Golden Gate Ventures, has moved to Qatar to strengthen the firm’s MENA responsibility.

The US$ 100 million MENA fund may focus on powering startups in vital sectors such as alternate energy, clean technology, B2B Artificial Intelligence, and energy- related strong tech, on top of stalwarts like fintech, healthtech and edtech. In these areas, SEA has seen huge growth and has launched some well-known Investments in the last ten years. The relationship between MENA and SEA is expected to have a multiplier impact on their progress, and its direction is anticipated to follow that of SEA.

Qatar has been building up its financial prowess and startup ecosystem in recent years with a friendly government, a powerful push for financial diversification, a pro- business environment, and large investment into the startup space. These tactics closely resemble those used in Singapore, which helped the city-state’s startup ecosystem <a href="https://www.startupblink.com/startup-ecosystem/singapore”>rank first in the SEA and second globally.

Qatar is emerging as a growing hub for innovation, and MENA is emerging as a shining example of progress. I remember when Golden Gate Ventures established itself ahead of the other VCs that came after in Singapore in 2011. We see a real opportunity to help startups move from one region to the next by creating a golden corridor of growth between SEA and MENA. We connected Silicon Valley to SEA close to 15 years ago, and now we do so with a presence in all the major global startup hubs,” said Vinnie Lauria, founding partner at Golden Gate Ventures.

In fact, several high- profile startups on Golden Gate Ventures ‘ portfolio have expanded to the Gulf, among which are CodaPay, Stripe and Multiplier. The firm’s extensive CEO exploratory trips over the past 18 months, which have introduced SEA startups to the Gulf markets and helped them build their social capital, have given them this ability to scale to the Gulf from SEA and Singapore.

Golden Gate Ventures ‘ SEA-MENA partnership began with QInvest, a state fund with Qatar as an LP in its Asia fund, in the early days. As the SEA ecosystem matures and the MENA ecosystem grows as a potential global competitor, the firm anticipates more activity between the regions.

” Golden Gate Ventures has spent close to a decade curating our networks in the Middle East and developing our long-term strategy for the region with the aim of growing both SEA and MENA together synergistically. We have connected the startup ecosystems in MENA and the SEA and hope to expand this. There are opportunities for startups to scale between the regions and a number of complementary growth areas, such as climate tech, health tech, and edtech,” said Michael.

Golden Gate Ventures also announced the launch of its Qatar startup ecosystem primer,” Qatar Rising: Where ambition and capital converge,” at the company’s announcement of the MENA Fund I. It serves as an industry primer and provides an in-depth analysis of how various factors, including the Gulf state’s robust economic policy, investment climate, startup ecosystem, talent pool, and cultural influence, have all come together.

Golden Gate Ventures has seen remarkable growth over the past two years, expanding its footprint with the opening of its Vietnam operations in 2022 to capitalize on its position as a leading global economy, opening an office in Saudi Arabia in 2023 to exploit opportunities in the Middle East-Southeastern Asia corridor, and adding a New York presence recently to assist portfolio companies in raising funds from the region.

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MRANTI launches KL Innovation Belt to spur Malaysia’s startup ecosystem

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  • Over the next three decades, plan to build KLIB centres in Bukit Jalil and Bangsar.
  • Industries such as electricity &amp, greentech, manufacturing &amp, technology, agriculture

The KL Innovation Belt was announced during the recent KL20 Summit.

With the launch of the KL Innovation Belt (KLIB ), a one-stop center for startups and investors, Technology Innovation Park Malaysia ( TiPM/MRANTI ) is issuing a clarion call to all innovators. The ground-breaking system of centres across the Klang Valley is intended to serve as their successpad, which was announced at the KL20 Summit in April.

[MRANTI’s fresh name, TiPM, was approved by the board. [Update: The name change will be made soon. ]

The Ministry of Economy has taken the initiative known as KL20 to make Kuala Lumpur the top-20 international business hub by 2030. By creating a centralized, attractive ecosystem that brings up businesses, investors, and academic institutions, this plan aims to spur innovation and economic development.

However, the release of the KL20 Action Paper outlines over 20 revolutionary reforms to lead strong growth and investment in Malaysia’s it sector.

KLIB touted to enable businesses and buyers

According to TiPM the KLIB helps companies and investors by fostering engagement, technology, and growth, enabling them to grow to greater heights.

Chang Lih Kang, Minister of Science, Technology and Innovation ( MOSTI), said,” We welcome you, as a Pioneering Innovator, to be part of a community targeted to grow within the next three years into a network of 500 companies, investors and industry leaders, with potential to collaborate with like- minded people whilst having access to support services tailored to your business”.

These hubs may concentrate on nurturing vital sectors including energy &amp, greentech, manufacturing &amp, automation, agriculture and Muslim economic services, aiming to foster a self- sustaining startup ecosystem that promotes constant innovation and growth.

Each hub will have easy access to government agencies and dedicated co-working spaces for networking events.

Dr Rais Hussin, CEO of TiPM said, “KLIB Innovators also stand to benefit from scalable office space that can accommodate up to 100 companies at any one time, high- speed internet, convenient access to transportation, as well as, important facilities such as F&amp, B and leisure”.

In addition, innovators will have access to investor pitch sessions and direct access to a pool of potential investors. TiPM will offer special rental and utility packages for the first three years in addition to the initiative, which will also include significant incentives for early movers.

Interested parties are encouraged to register their interest at http ://www.mranti.my/klib

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KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

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  • Now, companies are more financially secure and economically sound.
  • Giving up is a fundamental tenet of Soonicorn Collective, which helps to sustain ecosystem.

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

” No more fun and flip”, quipped Dr Sivapalan Vivekarajah ( pic ), Chairman &amp, Senior Partner of Soonicorn Collective &amp, ScaleUp Malaysia, at his presentation on 23&nbsp, April at the KL20 Summit. It was a stark reality search for members.

The Silicon Valley Narrative, in his opinion, has been the one tale that has persisted throughout the business habitat in Malaysia for the past 20 years.

Firstly, you must raise as much money as you can, and as many times as you can, but you do n’t spend enough time building your business. &nbsp,

Next, you need to spend the money you raise and double your income two to three times per year, without worrying about the results. &nbsp,

Finally, you may develop huge- then flip the company to an innocent buyer and” we all get rich”, he said.

However, this has a drawback. He continued,” This tale is scam,” citing the fact that not many businesses in Malaysia or even those in its neighboring countries have successfully done this. Plus, most companies know that M&amp, A fail most of the time, but hardly anyone in Asia buys this storyline.

He claimed that he has spent 25 years in this habitat, and that he has not even identified 10 big corporations in Malaysia that have bought startups in the last five to ten years.

The truth is that in Asia, raising money is difficult, and there is a good chance that the faucet will nearer when raising and flipping. &nbsp,

However, the last couple of years were the hardest years previously to increase money and it is still difficult today, to which Sivapalan may attest to based on his 51 investments, 16 of them specific and 35 with his Scaleup Malaysia accelerator. &nbsp,

Even in the US, where many companies have very strong balance sheets and very high income, getting acquired is n’t common.

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

Sivapalan, sharing data from KPMG research ( chart ), showed that even in the US, where we are led to believe that startup acquisitions happen all the time, &nbsp, significant M&amp, A activity only happened in seven quarters between the 2016 to 2023 period. In every other third there was &nbsp, pretty little M&amp, A action. &nbsp,

The only times when&nbsp, M&amp, A&nbsp, does happen is when times are good, because according to the Harvard Business Review, between 70 % to 90 % of M&amp, A in the US actually fail. &nbsp,

 

It’s time to alter the tale, it is time to get back to basics

Furthermore, Singapore venture capital firm (VC ) Insignia, which recently raised US$ 1 billion ( RM4.75 billion ) stated that when it comes to building resilient companies in ASEAN, “fundraising today favors the financially robust and capital efficient”.

Seizing on this, Sivapalan stressed,” The good thing about Indonesian companies is that most of them are money successful”.

Indonesian companies have been forced to get money successful, he explained, like Singaporean VCs who are looking for bargains in Malaysia, because they, in contrast to firms in Singapore and Indonesia, have raised ridiculous amounts of money and are now struggling.

Sivapalan instead suggested founders consider the IPO route, noting that some of the world’s leading tech companies did so. Sivanaran opposed the raise and flip strategy. This is the route to building a lasting business, he said.

Siva dispels the myth that startups struggle to obtain IPOs. Everyone says going public about IPOs is difficult, but not the smart VCs. Those that tell you the IPO route is hard, want you to flip”, he said.

Siva shared that in Malaysia, if one can generate US$ 2.11 million ( RM10 million ) in profit a year, an IPO is guaranteed with bankers lining up to help you. &nbsp,

Thus, driving home his key message, Siva stressed, “you have to rethink this narrative, and think of building enduring businesses”.

 

The Soonicorn Collective and nation-building

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

Sivapalan recently launched the Soonicorn Collective, a membership- driven community platform for Malaysian CEOs to leverage their knowledge, networks and experience to build better leaders, companies and ecosystems.

His motivation? Imagine a group of these kinds of people, Sivapalan said,” If a single person can make a difference in this world, you can multiply that change, you can make a real difference in this world.”

The best startup founders are united in order for them to collaborate and create better and stronger businesses, according to” we have a mission to bring them together.” We are aiming to improve the ecosystem for everyone by raising all the ships as a result of a rising tide.

So far, the collective has made policy recommendations for budget 2024, two of which were accepted. &nbsp,

” We also recently had a meeting with the Deputy Minister of International Trade, giving recommendations and working with the Ministry of Investment, Trade &amp, Industry. Even if half of the recommendations are accepted, they are going to make it easier for businesses to grow exports”, he said.

” You have to be the change if you want to make a difference. We want to make sure the ecosystem is better for everybody, and we’re getting together to do that”, Sivapalan said.

To join, one has to not only be a tech company, but also be a CEO/C- level founder, generate at least US$ 1.79 million ( RM8 million ) in revenue, or have raised a minimum of RM2 million funding. &nbsp,

Since there is a lot of assistance for young startup companies already, the collective is for the more mature companies, and there is little assistance for late-stage businesses.

So far, the collective has 20 companies with sales last year of RM217 million with projected 2024 sales of RM766 million with projected exports of RM290 million. They have raised RM156 million in funding, and have a total headcount of 1, 260.

]RM1 = US$ 0.211]

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

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NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBio

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  • Committed to help inventors, contribute to S’pore’s biotech habitat
  • Announced a US$ 14.5 million funding from Celadon Partners and ClayvstBio

NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBio

NSG BioLabs, Singapore’s company of biotech co- working labs and workplace space has announced partnerships with Enterprise Singapore, the Singapore government agency championing enterprise development, and Merck, a leading science and technology company, to boost the biomedical landscape by providing needed resources for as funding, expertise and networks to advance startup research and development. &nbsp,

In a statement, the company said it has also concluded a US$ 14.5 million ( RM68.7 million ) financing round led by Celadon Partners, an Asian private equity firm, and ClayvstBio, a life science investor and venture builder set up by Temasek to accelerate the commercialisation of breakthrough ideas to health impact. &nbsp,

It added that these achievements reaffirm the company’s power and expertise in providing higher- quality, nicely- managed, and turnkey Biosafety Level 2 accredited laboratory and office spaces. Also, these milestones underscore NSG BioLabs as an ecology precursor, providing value- include services and networks, which are critical in driving technological innovation and business growth.

Since 2019, NSG BioLabs has been assisting innovators in creating effective solutions in the health, medical, agrifood, and professional biotechnology sectors, working in areas like as precision medicine, nucleic acids, AI- enabled drug discovery, and artificial biology. The company has assisted over 40 businesses as residents with what it claims to be the biggest co-working biotech laboratory and office footprint in Singapore. &nbsp,

NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBioThe company’s current residents include numerous multi-billion-dollar corporations as well as numerous promising startups that have achieved significant success. The startup residents have already established hundreds of jobs and successfully raised nearly US$ 400 million ( RM1.9 billion ) in funding. &nbsp,

NSG BioLabs, the company’s CEO and founder, Daphne Teo ( pic ), expressed her support for innovators and how proud of its contribution to Singapore’s expanding biotech ecosystem. We hope to encourage greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia-Pacific region, she said.” Our partnerships with EnterpriseSG and Merck demonstrate the importance of a collaborative spirit.”

” We are thankful for the recognition from our investors, Celadon Partners and ClavystBio, and look forward to further empowering our residents in their innovation efforts through expanded facilities, enhanced value- add offerings, and greater exposure to valuable industry networking and mentorship experiences”, Teo said.

NSG BioLabs has been part of EnterpriseSG’s Startup SG Accelerator programme since 2019. In order to accelerate the development and commercialization of such deep tech solutions, the company announced a new partnership with EnterpriseSG to invest in and nurture more high-potential biotech startups. In particular, the company expanded support for those with promising innovations in fields like precision medicine.

Dr Clarice Chen, director of Healthcare and Biomedical, EnterpriseSG stated that Singapore’s biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023. By providing patient capital, infrastructure, and expertise, EnterpriseSG will continue to collaborate with industry partners like NSG BioLabs to advance the development of novel deep tech innovations like AI-enabled platforms and targeted therapies. This will strengthen Singapore’s edge in precision medicine and revolutionise healthcare delivery”, she added.

The newly acquired funds from Celadon Partners and ClavystBio will be used to improve its products and services and build additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia, according to NSG BioLabs, in order to further its mission of supporting biotech innovators.

We are confident that NSG BioLabs ‘ innovative co-working model will provide compelling solutions to biotech startups and companies in the Southeast Asian region given the sector’s significant growth being driven by healthcare needs. NSG BioLabs ‘ commitment to enabling businesses to quickly track their research and development efforts is commendable, according to Donald Tang, managing partner at Celadon Partners.

Meanwhile, Khoo Shih CEO ClavystBio said, the company is excited to foster the growth of Singapore’s life science ecosystem through its support of NSG BioLabs, and its resident startups. ” This investment reinforces ClavystBio’s mission to accelerate breakthrough science into health impact through venture building, and strategic partnerships”, he said. &nbsp,

NSG BioLabs cultivates mutually beneficial relationships between its residents and other important parties as a significant platform in the area with a proven and expanding scale. The company has partnered with Merck to give its residents special terms for Merck’s reagents and life sciences equipment in order to further enable their residents to develop, grow, and scale up. Additionally, the partnership grants you preferential access to biopharma processing expertise and advice on how to increase production.

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Microsoft commits US.2bil to bolster Malaysia’s digital transformation

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  • largest expense by a software company in Malaysia.
  • Targeted to power Malaysia’s sky and AI change

Microsoft Chairman and CEO Satya Nadella (L) meets with YAB Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia at Perdana Putra, Putrajaya in Malaysia on May 02, 2024. (Photo by Annice Lyn/Getty Images for Microsoft)

Microsoft has announced a US$ 2.2 billion ( RM10.47 billion ) investment now, the largest in the bank’s 32- year history in Malaysia. Aimed at enhancing Malaysia’s fog and AI environment, the announcement was made by Satya Nadella, Chairman and CEO of Microsoft, during the Microsoft Build: AI Day held in Kuala Lumpur.

Microsoft’s investment may be distributed over the next four years, and includes plans to construct sky and AI equipment, create AI crafting opportunities for 200, 000 Malaysians, create a national AI Centre of Excellence, and defend the nation’s cybersecurity capabilities. Also, the investment may support the expansion of Malaysia’s designer community.

” We are committed to supporting Malaysia’s AI change to maintain it benefits all Malaysians,” said Nadella, adding that the initiative aims to make Malaysia a gateway for innovative technologies like conceptual AI.

Government cooperation and help

The Indonesian government has welcomed Microsoft’s effort, recognizing it as a precursor for the world’s electric empowerment journey. Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade &amp, Industry, highlighted Microsoft’s longtime partnership with Malaysia&nbsp, while adding that the expense” will significantly improve Malaysia’s electric power and further elevate our position in the global technical landscape”, he remarked.

He added that this was further recognition of Malaysia’s position as a vibrant tech investment destination, in particular due to the country’s well- established semiconductor ecosystem. “( It is ) underscored by our value proposition that’ this is where global starts ‘”.

Meanwhile, Andrea Della Mattea, President of Microsoft ASEAN, said that this initiative is intended to support the Malaysian government’s National AI Framework. In consequence, Malaysia has steadily established itself as a regional hub for smart technology and digital innovation.

Broad community benefits

The investment is a larger commitment by Microsoft to provide AI skilling opportunities for 2.5 million people in ASEAN member states by 2025, which included a similar US$ 1.7 billion investment in Indonesia to expand&nbsp, cloud and artificial intelligence services, including building data centers.

The opportunities in Malaysia are hoped to benefit&nbsp, 200, 000 people and inclucate them&nbsp, with AI skills through the AI TEACH Malaysia program, and cybersecurity skills via the Ready4AI&amp, Security program.

Microsoft will work with various Malaysian organizations to establish a national AI Centre of Excellence to promote AI adoption in key sectors while ensuring AI governance and regulatory compliance. The company will work with various organizations to incorporate AI into their processes, including working with Cradle to develop the MYStartup’s single window ‘ platform and the Ministry of Investment, Trade and Industry ( MITI ) to better analyze the economic trajectories of various negotiating partners in international trade negotiations. &nbsp,

Microsoft will also work with the National Cyber Security Agency of Malaysia ( NACSA ) to promote resilience and security in the public sector through capacity-building and security assessments. &nbsp,

Local businesses will have access to the most recent technological advancements, community members will receive training in AI and digital skills to improve employability, and developers will be empowered through new initiatives like AI Odyssey, which aims to promote AI expertise.

” As more companies embrace the power of AI, having the right digital infrastructure in Malaysia is key to future- proofing our nation’s economy”, commented Rafizi Ramli, Minister of Economy. Microsoft’s investment will help to build a pipeline of AI-driven startups, boost productivity, and raise wages, and accelerate the adoption of generative AI.

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Microsoft Commits US.2 Billion to Bolster Malaysia’s Digital Transformation

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  • largest expense by a software company in Malaysia.
  • Targeted to power Malaysia’s sky and AI change

Microsoft Chairman and CEO Satya Nadella (L) meets with YAB Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia at Perdana Putra, Putrajaya in Malaysia on May 02, 2024. (Photo by Annice Lyn/Getty Images for Microsoft)

Microsoft has announced a US$ 2.2 billion funding now, the largest in the bank’s 32- time record in Malaysia. Aimed at enhancing Malaysia’s sky and Iot environment, the announcement was made by Satya Nadella, Chairman and CEO of Microsoft, during the Microsoft Build: AI Day held in Kuala Lumpur.

Microsoft’s investment may be distributed over the next four years, and includes plans to construct sky and AI equipment, create AI crafting opportunities for 200, 000 Malaysians, create a national AI Centre of Excellence, and defend the nation’s cybersecurity capabilities. Also, the investment may support the expansion of Malaysia’s designer community.

According to Nadella,” We are committed to supporting Malaysia’s Artificial change to ensure that it benefits all Malaysians,” adding that the initiative aims to make it a hub for innovative technologies like conceptual AI.

Government Collaboration and Help

The Indonesian government has welcomed Microsoft’s effort, recognizing it as a precursor for the world’s electric empowerment journey. Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade &amp, Industry, highlighted Microsoft’s longtime partnership with Malaysia&nbsp, while adding that the expense” will significantly improve Malaysia’s electric power and further elevate our position in the global technical landscape”, he remarked.

He added that this was further recognition of Malaysia’s position as a vibrant tech investment destination, in particular due to the country’s well- established semiconductor ecosystem. “( It is ) underscored by our value proposition that’ this is where global starts ‘”.

Meanwhile, Andrea Della Mattea, President of Microsoft ASEAN, said that this initiative is intended to support the Malaysian government’s National AI Framework. In consequence, Malaysia has steadily established itself as a regional hub for smart technology and digital innovation.

Broad Community Benefits

The investment is a larger part of Microsoft’s wider commitment to expand and expand artificial intelligence services, including building data centers, for 2.5 million people in ASEAN member states by 2025, as well as a similar US$ 1.7 billion investment in Indonesia.

The opportunities in Malaysia are hoped to benefit&nbsp, 200, 000 people and inclucate them&nbsp, with AI skills through the AI TEACH Malaysia program, and cybersecurity skills via the Ready4AI&amp, Security program.

Microsoft will work with a number of Malaysian organizations to establish a national AI Center of Excellence to promote AI adoption and compliance while ensuring AI governance and compliance. The company will work with various organizations to incorporate AI into their processes, including with the Ministry of Investment, Trade and Industry ( MITI ) to better understand the economic trajectories of various negotiating partners in international trade negotiations and with Cradle to create the MYStartup’s single window ‘ platform. &nbsp,

Microsoft will also work with NACSA and the National Cyber Security Agency of Malaysia (NCSAM ) to strengthen capacity and security in the public sector. &nbsp,

Local businesses will have access to the most recent technological advancements, community members will receive training in AI and digital skills to improve employability, and developers will be empowered with new initiatives like AI Odyssey, which aims to develop AI expertise.

” As more companies embrace the power of AI, having the right digital infrastructure in Malaysia is key to future- proofing our nation’s economy”, commented Rafizi Ramli, Minister of Economy. Microsoft’s investment will help to build a pipeline of AI-driven startups, promote generative AI, and boost our economy through higher wages and productivity.

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Woman in drunk-driving drama speaks out

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In: South-East Asia

Former IT executive who is accused of kick-off denies police ‘ allegation that it was n’t her first offense.

Woman in drunk-driving drama speaks out
As officers attempted to detain her for impaired travelling on Tuesday evening, Pol Lt Col Darathorn Khajornsilp, assistant director at Traffic Police department 5, details to his face where a car kicked him. ( Photo supplied/Wassayos Ngamkham )

A former senior IT executive who was in the news for punching a policeman officer in the face after being stopped for driving while intoxicated has refuted says she was also charged with drunken driving two years ago.

Following an incident earlier this year at an alcohol station in Bangkok’s Suan Luang city, the 51-year-old woman, who is only known as Monsinee, gave her side of the story on Saturday.

Later on Tuesday night, police patrolling the station on a road next to the highway in Suan Luang stopped and tested the driver. Her blood alcohol level was 104 millgrammes, far above the legal limit of 50.

When officers&nbsp, moved to apprehend her, she resisted and scolded them using harsh language. When they took her to a policeman car, she abruptly kicked Pol Lt Col Darathorn Khajornsilp, who was about to close the door to the car. His right cheek was struck by her foot in the base.

The deputy superintendent of traffic police division 5 ( Pol Lt Col Darathorn ) was wearing a crash helmet, but he suffered some facial bruising. The girl was then transported to the police station in Prawet.

Driving while over the constitutional control, resisting arrest, and assaulting a witness are all charges against Ms. Monsinee. According to a police cause, she apparently admitted to only the cost of affected moving.

In August 2022, regional press reports later reported that police claimed that Ms. Monsinee had been accused of driving while intoxicated in August 2022. But she insisted on Saturday that this was untrue.

She even claimed to have spoken with Pol Lt Col Darathorn about the event on Tuesday in phone interviews with reporters. She did not elaborate.

She said she would just make a statement in court if she was asked whether she had been actually assaulted at the time.

The person is heard calling the soldiers “low course” in a movie that has gone viral online. She claimed that the video had been edited and that she had also said other items. She continued, adding that because she was not a person who used that kind of language, the phrase she was heard using was probably the strongest one she had always used.

In any case, she insisted she did certainly harshly scold people. She added that she was n’t drunk at the time.

Police Lt. Col. Darathorn claimed on Saturday that his speech had not yet been reviewed by police investigators. He promised to get a health check-up and provide the evidence with him to the officers.

He added that a search of criminal information revealed that the person had previously been accused of driving while intoxicated in August of 2022.

The girl claimed that the information about the incident was biased on her Instagram section on Friday. Specific details were “untrue and twisted”, she added.

She claimed she may assign a solicitor to handle the case and that she had not yet made her assertion to the police. The Facebook post was afterward deleted.

Facebook Thailand released a statement on Friday announcing that the person in the story had left the business in January.

Ms. Monsinee stated that she was currently pursuing venture-capital investments to provide seed money for Thai tech companies.

The person who was detained at a police station in the Suan Luang area was then taken to the Prawet authorities station for questioning. ( Photo supplied/Wassayos Ngamkham )

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