Ben Ong

South Korea's Ministry of SMEs and Startups Unveils Strategy to Boost Exports The Ministry of SMEs and Startups in South Korea has announced a new strategy to support the globalization of small and medium-sized enterprises (SMEs) and venture companies. The plan aims to nurture 1,000 innovative domestic companies into export entities and help 3,000 companies achieve exports of $1 million each by 2027. Top 5 highlights of the strategy: 1️⃣ Expanding export support for tech service companies to 15% by 2030 2️⃣ Introducing an 'export doctor' system for tailored assistance throughout the export process 3️⃣ Establishing a scale-up program for rapidly growing export companies 4️⃣ Introducing a voucher exclusively for overseas expansion 5️⃣ Tapping into the potential of foreign students through the 'K-Export Warrior 1,000 Project' SMEs play a significant role in the South Korean economy, with sales 17.2 times and employment 5.1 times higher than the average industry. However, export numbers have remained relatively stagnant over the past decade, with approximately 94,000 companies engaging in yearly exports, hovering around $110 billion annually. The Ministry aims to address emerging demands by shifting focus from 'products' and 'exports' to 'technology' and 'overseas expansion.' The goal is to foster sustainable growth for South Korean SMEs and ventures on the global stage through collaborative efforts and adaptive support mechanisms.

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🚀 China improve policy and support for foreign institution investors. 💰 Recently, China’s Ministry of Commerce, in conjunction with ten departments including the Ministry of Foreign Affairs and the National Development and Reform Commission, issued “Several Policies and Measures to Further Support Foreign Institutions’ Investment in Domestic Technology Enterprises” (hereinafter referred to as “Several Measures”). The policy document aims to deepen new development concepts and promote high-quality development, especially in high-level opening up and cultivating new productive forces. "Several Measures" focuses on the needs of foreign institutional investors and the development of domestic technology enterprises, and proposes 16 specific measures in four aspects, including optimizing management services, increasing financing support, strengthening exchanges and cooperation, and improving exit mechanisms. The purpose of these measures is to promote investment by foreign institutions in domestic technology-based enterprises, enhance financial support for technological innovation, and promote the construction of a comprehensive technology-based financial service system. In order to ensure the effective implementation of the policy, the Ministry of Commerce will cooperate with relevant departments to strengthen policy publicity and interpretation, refine implementation measures, and provide publicity services to key overseas institutions to better support the financing and development of technology-based enterprises. The issuance of "Several Measures" reflects the Chinese government's emphasis on scientific and technological innovation and opening up to the outside world, aiming to attract more overseas capital to invest in China's scientific and technological fields through policy incentives and support, thereby accelerating scientific and technological progress and industrial upgrading. At the same time, this is also a concrete action for China to further integrate into the global economy and promote international cooperation. Through the implementation of these policies, China hopes to attract more international investment, promote exchanges and cooperation between domestic and foreign enterprises, and jointly promote the prosperity and development of science and technology and economy. Original source: https://lnkd.in/g-YgJuzj

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Learn more about the IPO market in Taiwan!

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IPO in Taiwan - it's such a topic so under the radar. I did an info session with Taiwan Stock Exchange and Startup Island TAIWAN last week in Singapore. Probably the first time I feel a 'PMF' as many audience came ask for my presentation deck after the session. Perhaps because exit is a big issue now in this region. When we see large unicorns face hard time justifying their market cap, let along those waiting in line. Some suggested, perhaps it's all better for M&A in this region. Well, M&A valuation could be even lower than you'd expect. That doesn't mean IPO is impossible. You only need a right market to do so. Taiwan equity market is our treasure, allowing 2,200+ companies to enjoy a super liquid market (US$15B a day and 250-350% trading turnover) and high P/E multiple (average 22x as of FY23, highest in APAC). Among them, 60% are tech companies. Aa a tech animal, you wanna be in the right forest, so you can attract the investors that are tech-savvy and understand you. (That's why Taiwan equity market is the 'Asian Nasdaq for small-mid cap'.) Not a Taiwan company? No worries, the listing rules require zero Taiwan asset, revenues, offices, officers, nothing. Because Taiwan itself made its economic miracle by making business outside! Since 2009 the deregulation, there are 115 non-Taiwan companies listed in Taiwan, with an average P/E at 28x and 240% trading turnover, metrics on par with those Taiwanese companies at similar size. It means, the market doesn't treat it differently. In my article, I'm very honoured that Kelvin Wee, the CEO of PATEC Precision Kft. (Hungary), a Signapore-registered company, is willing to share why they despite having zero presence and relationship with Taiwan chose to list in Taiwan. Main reasons include: strong liquidity, post-IPO fundraising, talent, regulatory support, and low costs. If you are interested, can read my articles for more details and data. I would also love to pay you a visit if you're indeed thinking about your exit target market. Article link: https://lnkd.in/gvdnr5SQ

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As the CIO of Asia Pro Ventures, I am encouraged to see the Singapore government's continued commitment to boosting private-sector investments into deeptech startups. The additional S$440 million ($332 million USD) injection into the Startup SG Equity scheme demonstrates Singapore's strategic focus on supporting innovative, high-growth companies in emerging technologies. 🚀 The global decline in venture funding this year is certainly a concern, but Singapore's proactive approach to stimulating private investment through co-investment and expanding funding support is a prudent move. Deeptech startups often face higher barriers to success due to the complexity and capital-intensive nature of their work, so having a well-funded government program to de-risk private investment is crucial. 💰 Raising the cap on government equity investment to S$12 million ($9 million USD) per startup is also a positive step, as it will allow more runway for deeptech companies to grow and scale. Collaborating with global VC firms to co-invest in these startups is an intelligent strategy to bring in expertise and networks beyond just the capital. 🌍 The other initiatives announced, such as the StageOne program to connect local and global startup communities, and the various open innovation challenges, demonstrate Singapore's holistic approach to fostering its startup ecosystem. Enabling cross-border partnerships and tapping into global innovation pools will be key to helping Singaporean deeptech companies succeed internationally. 🌐 As the CIO of a regional venture firm, I'm particularly interested in how these enhancements to Singapore's startup support infrastructure can benefit the broader Asian startup landscape. Singapore's position as a leading innovation hub, combined with its strong ties across the region, means that strengthening its deeptech capabilities could have positive spillover effects for the entire Asia Pacific ecosystem. 🌍 Overall, this announcement reaffirms Singapore's commitment to its RIE 2025 and upcoming RIE 2030 plans, with a clear focus on cultivating a vibrant deeptech startup environment. I'm optimistic that these measures will translate into more investment opportunities and greater success for innovative companies in our portfolio. 📈 #Singapore #Deeptech #VentureCapital #Startup #investor #investing #angelinvestor #Innovation #technology #SWITCH #SWITCH2024 #InvestmentOpportunities #familyoffice

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The chart on Thailand's innovation "S-curves" illustrates the country's progress toward "Thailand 4.0", focusing on advancing technology and innovation across sectors. It highlights stages of growth in agriculture, industry, and technology, aiming for an economy driven by high-value, sustainable, and knowledge-based industries. These S-curves are part of a national plan to drive competitiveness and resilience. #VentureCapital #AgTech #Thailand4 #InnovationEconomy #SustainableGrowth

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Japan’s oldest venture capital firm is closing in on a target to triple the value of its investment, a sign of resurgence in the country’s startup ecosystem. Jafco Group Co. expects its newest SV7 fund’s total value to surpass paid-in capital by 2.5 times, as more portfolio companies go abroad, fetching higher valuations. The early-stage investor is pushing to lift the fund’s performance to a 200% return or more, which the 51-year firm sees as a prerequisite to compete for attention with big-league VCs abroad. Jafco, which has backed more than 4,100 startups including SoftBank Group Corp.’s earlier iteration, is considering launching a Japan fund of at least $640 million. As of October, Japan had seven privately-held companies valued at $1 billion or more, compared with 653 in the US, according to data compiled by CB Insights. China had 172, while India had 71. #business #japan #asia #startups #vc #venturecapital #unicorn #investment #investing #investmentmanagement

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https://lnkd.in/g4e9dRbs Taiwan's recently elected president, Lai Ching-te, has used his inaugural address to call for the island state to upgrade to an AI nation. "As we meet the global challenges of adopting more and more smart technologies, we in Taiwan, a 'silicon island,' must do all we can to expedite Taiwan's transformation into an 'AI island'," Lai – who uses the Western name William – told citizens on Monday. "We must adapt AI for industry and step up the pace of AI innovation and applications," he added, and "must also adapt industry for AI and use AI's computational power to make our nation, our military, our workforce, and our economy stronger." He also called on Taiwan to make "bold investments" in quantum computing, robotics, the metaverse, precision medicine, and other advanced technologies. "Our sights are set on making Taiwan the Asian hub of unmanned aerial vehicle supply chains for global democracies, and developing the next generation of medium- and low-orbit communications satellites, bringing Taiwan's space and aerospace industries squarely into the international sphere," he added. That's part of an ambitious plan to make more military tech, and security and surveillance kit – two of five industries in which Taiwan excels and is trusted globally. Semiconductors is another, with AI and next-generation communications rounding out the list. The mentions of military strength and serving like-minded democracies are notable, because elsewhere in his speech Lai called on China to "cease their political and military intimidation against Taiwan, share with Taiwan the global responsibility of maintaining peace and stability in the Taiwan Strait as well as the greater region, and ensure the world is free from the fear of war." And if that doesn't work, he's prepared to fight. Lai suggested that defensive effort would be conducted on behalf of Taiwan's citizens, and those of the wider world. "As we look toward our future, we know that semiconductors will be indispensable. And the AI wave has already swept in. Taiwan has already mastered advanced semiconductor manufacturing, and we stand at the center of the AI revolution," he boasted. "We are a key player in supply chains for global democracies. For these reasons, Taiwan has an influence on global economic development, as well as humanity's well-being and prosperity.” To safeguard that prosperity, he called for solidarity at home and ongoing demonstrations of thanks for the support of foreign friends. This is recognition that US support for Taiwan is a major deterrent to any Chinese effort to reclaim the island. One reason for that support is that the US can't do without silicon produced in Taiwan by TSMC if it is to continue enjoying superiority in that arena compared to China.

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SpaceFund eyes Shariah compliance for upcoming US$1 billion fund ===== Investing in space-related technologies may be risky, but the payoffs can also be phenomenal beyond cash returns – with further potential spinoff benefits in the terrestrial arena, SpaceFund Founder and Managing Partner Meagan Crawford told IFN Investor. Operating this early-stage venture capital firm since 2018, Meagan said valuations of investments made with the firm’s first US$1 million fund have risen around 300% while those in the second US$15 million fund have seen a 30% increase so far. “Including SPVs, we have invested around US$20 million in catalyzing space revolution initiatives.” The most prominent so far of its 21 portfolio entities would be SpaceX, while the startup Made in Space has been acquired by Redwire. The third round of US$100 million fundraising by SpaceFund is currently in progress with the expectation of closing by the end of this year and 2025 will see the next fund raising up to US$1 billion. “We will likely seek Shariah certification for the next fund.” Meagan explained there were several reasons why SpaceFund did not go the Islamic route earlier, with the foremost being ... ... article continues at https://ifninvestor.com Interesting fact: SpaceFund founder Meagan Murphy Crawford, MBA previously vied to be a fighter pilot with the US military.

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💡 "Can ArtifexAI scale?" Let me show you a real example from just one local government meeting in China: From a single meeting in Liyang City, we extracted how they're building their low-altitude economy - integrating drone research with the Civil Aviation Academy, developing flight corridors, and creating emergency response systems. Now think bigger: 🌆 What if you could track every low-altitude economy initiative across China's 293 prefecture-level cities? 🚁 What if you could map every local government preparing for drone delivery networks? 📊 What if you could spot emerging UAV testing zones before your competitors? And that's just ONE policy area from ONE meeting. This same document also covered: 📋 Public resource trading reforms ⚖️ Community corrections 👥 Youth welfare programs 🏗️ Land use rights 📈 Performance assessment frameworks Multiply this by: 🌏 Every city ⏰ Every day 🗺️ Every country 💬 Every language This is what we mean by scale - turning millions of local government decisions into actionable global intelligence. From tracking drone regulations in Liyang to mapping urban air mobility preparations worldwide - all in real-time. What once required armies of analysts and months of research, we can now do instantly and continuously. This isn't just a technology demonstration - it's a new type of global intelligence infrastructure. #AI #GlobalIntelligence #FutureOfBusiness #Innovation #ArtifexAI #Davos2025 #WEF2025

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"Taiwan Political Update - November 14, 2024 Regarding the opposition party's proposal on the Fiscal Distribution Act, President William Lai has issued a response that, while firm in tone, deliberately maintains clear room for negotiation. President Lai outlined several key points: 1. The central government's actual disposable budget amounts to approximately NT$770 billion. A further deduction of NT$660 billion would potentially leave insufficient resources for critical functions such as national defense, diplomatic affairs, major infrastructure projects, and emergency disaster response. 2. He emphasized that historically, the central government has managed expenditures for certain institutions, including senior high schools and regional hospitals. With any fiscal redistribution, local governments must assume the corresponding financial responsibilities for these operations. 3. Lai highlighted that central government subsidies to local governments have shown consistent growth over the past eight years, with allocations reaching an unprecedented NT$1.0151 trillion for the coming year. He noted that local governments have experienced substantial improvements in their financial positions. Analysis suggests that the ruling party appears prepared to accept the bill's passage, while implementing adjustments in the following critical areas: 1. The maintenance of existing central government operations will necessitate a reduction in current subsidy levels. 2. Local governments will be required to assume financial responsibility for specific operations, particularly in the healthcare and education sectors, including hospitals and certain senior high schools. In conclusion, regardless of the bill's final provisions, the fundamental political science principle of unified authority and responsibility remains paramount - the delegation of power must be accompanied by corresponding responsibilities. While the ruling party appears to have made necessary preparations, the opposition party should proceed with careful consideration in negotiating the future fiscal framework."

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Today in Asia Times, I wrote about the US plan to sell over a thousand kamikaze drones to Taiwan to bolster its defenses against a potential Chinese invasion. The sale includes the Switchblade 300 and ALTIUS 600M drones, which have been used in Ukraine. Despite their potential tactical benefits, high costs and doubts about their range and effectiveness in the Pacific might limit their impact. The US faces significant production challenges, including the limited manufacturing of advanced explosives needed for these drones. While the Replicator program aims to enhance unmanned military capabilities quickly, the reliance on unproven technologies and components from China raises questions about their strategic value. Also, more potent conventional munitions than Switchblade may be needed to counter China's growing threat in the Taiwan Strait.

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https://lnkd.in/gKyCK6Hh. Interesting The Wall Street Journal piece #venturecapital struggling to get the money it needs b/c outsiders turning away due to #China #economicgrowth woes and #geopolitical tensions surrounding China and #FDi in China #startups and other ventures. Beijing moving to fill the void on the front and back. Good from the money side? Challenges from the political side. Lots of potential #transparency #redtape #corruption #investmentrisk and related issues raised. #earlystage #privateequity #politicalrisk #regulatoryrisk Dealogic #trademarks #patents Han Shen Lin The Asia Group #risktaking #semiconductors #artificialintelligence #biotech Sequoia Capital #unicorns David Yin #IPOs People's Bank of China Bank of China Contemporary Amperex Technology Co., Limited Huawei Liza Lin

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According to the April survey released by the Japan Real Estate Research Institute, residential building prices in Tokyo and Osaka increased by 1.5% respectively compared with the previous survey (October 2023), ranking first among 15 major cities in the world. Japanese experts said: "I don't think the surge in housing prices is a bubble phenomenon. The April survey of the "International Real Estate Price released on May 30 showed that residential building prices in Tokyo and Osaka increased by 1.5% respectively compared with the previous survey (October 2023), ranking first among 15 major cities in the world. This is the first time that Tokyo and Osaka have topped the list since the survey began in 2010. Due to the underestimation of the international market and the depreciation of the yen, overseas funds have flowed into Japan, and Japan's wealthy class is also actively buying due to historically high stock prices.       The survey is conducted twice a year in April and October. The index targets 15 major cities in Asian countries and regions, the US, U.K. and Australia, and is calculated using the new buying and selling prices per square meter of housing as an index. left to right in English: Tokyo, Osaka, Singapore, Sydney, Taipei, New York, Seoul, KL, Bangkok, Jarkatak, Ho Chi Ming, London, Beijing, Beijing, Shanghai, Hong Kong.

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I read an interesting South China Morning Post SCMP article on Hong Kong's journey toward becoming a tech startup hub and found some compelling points worth sharing: 🚀 𝗖𝘂𝗹𝘁𝘂𝗿𝗲 𝗼𝗳 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻: Absolutely critical for a thriving ecosystem. 🔗 𝗨𝗻𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆-𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: These can significantly speed up technological advancements. 🌍 𝗚𝗲𝗼𝗴𝗿𝗮𝗽𝗵𝗶𝗰𝗮𝗹 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲: Utilizing the proximity to tech powerhouse Shenzhen can give Hong Kong an edge. 💡 𝗩𝗲𝗻𝘁𝘂𝗿𝗲 𝗖𝗮𝗽𝗶𝘁𝗮𝗹: Particularly vital for growth-stage startups. The global VC scene shows immense potential to boost mature startups towards scalability. 🔄 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸: Streamlined regulations could be the key to rapid growth. In my view, Hong Kong has the potential, but tapping into it requires not just adjustments but a transformative approach to how we support tech firms. On another note, while aiming to replicate Silicon Valley's success, we must consider if that's really necessary. Shenzhen is often dubbed the 'Silicon Valley of Hardware' and brings significant tech clout to the Greater Bay Area (GBA). Perhaps our focus should be on creating a complementary ecosystem that supports startups to initiate, grow, and scale within the GBA. What is clear is that it's an exciting time to be part of this transformative period in the GBA. The potential for Hong Kong and Shenzhen to synergize and foster a thriving tech ecosystem is immense. What are your thoughts? #Innovation #Entrepreneurship #HongKong #TechHub SCMP Article by Natalie Wong

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' A long and heated rivalry between the United States and China could spell trouble for Asean – a scenario that would expose cracks within – and pose “tremendous risk” to – the regional bloc as member states grow increasingly divided over their approaches to the superpowers, according to diplomatic observers. The stakes are high. If the 10-member Association of Southeast Asian Nations fails to navigate the intensifying US-China competition, it could become irrelevant on the world stage, they say. Staying on the fence while tensions simmer between Washington and Beijing is familiar territory for nations in the bloc, with top officials from the region often stressing their countries will not take sides. But that routine may soon become less tenable, according to Muhammad Waffaa Kharisma, a researcher at the Centre for Strategic and International Studies in Jakarta, who predicted it will become increasingly difficult for the Asean bloc to collectively maintain its “passive neutrality” towards the US-China rivalry.' https://lnkd.in/g9fupx5y

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