An announcement by the Ministry of Health of the Republic of Indonesia featured the initiative of the Indonesian
government to facilitate a collaborative meeting between digital start-ups and
investors through the 1st Next Indonesia Unicorn (NextICorn)
International Summit 2018.
Widodo has established a long-term mission to making Indonesia as the Digital Energy of Asia as early as 2016. The
Indonesian government aims to become the largest digital economy in Asia by
e-Commerce Roadmap and the Digital Start-up Program, government ministries and
agencies, stakeholders, starts-ups, and digital technology companies with
valuations of more than US$ 1 billion (unicorns), collaborated to guarantee
that the industry's digital economy valuation could reach US$ 130 billion by 2020.
As of current, there are four unicorns in
Indonesia: Go-Jek, Traveloka, Tokopedia and Bukalapak. The
1st NextICorn International
Summit 2018 is an initiative of the Indonesian government and the Venture
Capital Association for Start-up Indonesia (AMVESINDO). This forum was an
opportunity to bring together start-ups and domestic and foreign investors,
possibly collaborating to create a new unicorn.
It was the first
time that the four Indonesian unicorns were on the same stage. Their role
is to be the gatekeepers of the voyage to Indonesia as a Digital Paradise, a
platform that allows global and national investors to develop the digital
economy in Indonesia. This platform also allows start-up companies to
grow and develop with regulatory ease and certainty of funding.
With the theme of “Voyage
to Indonesia as Digital Paradise”, the
1st NextIcorn International Summit 2018 brought 98 investors from
67 venture capital companies. 1,023 confirmed meeting schedules, involving more
than 200 participants, happened on 10 May 2018. The meetings are expected to
bring in more investments and funding opportunities for digital start-ups.
experience, it is relatively easy for start-up owners to get funding in the
beginning, which is commonly called Series Pre-A or Series A. Then, it would be
difficult for them to get funding when the range is more than US$ 1 million.
On the other hand, investors from the venture
capital firms experience difficulty in finding decent start-ups to fund.
This forum was initiated by the government as a
response to the request of the start-up industry to create an opportunity that
will facilitate start-up meetings. The government knows the importance of
creating avenues for this kind of forums because Indonesia’s economic growth is
dominated by the influx of domestic and foreign investments in technology.
Mr Thomas Lembong, the Head of the Investment
Coordinating Board, represented President Joko Widodo in the opening of the
event. He said that Foreign Direct Investment (FDI) in in Indonesia was
dominated by two sectors in the last 4 years, the smelting and the digital
economy. He furthered, “The digital economy sector is the saviour of FDI
Indonesia. I really hope this continues.”
He mentioned the role that the government plays in
ensuring digital sector investment continues is extremely important. He
cited two main principles that should be supported by the government: light
touch regulation and safe harbour policy.
“Light touch is related to regulation, wherein
the government should not interfere and try to regulate everything, allowing innovation
to grow in this country,“ explained Mr Lembong.
He added, “In the safe harbour policy, the
government should be able to create a secure environment for the start-up
industry. As policymakers, they should understand that innovation comes from
experimentation and failures. They should be able to protect the start-ups when
According to the Ministry of Communications and Informatics Minister Rudiantara, the Department has applied light
touch regulation, wherein the digital business simply needs to register online
and they need not ask for permission again. He affirmed the government's efforts to be a
facilitator of digital economic development and said, "The
government, especially the Ministry of Communications and Informatics,
recognise our role as a facilitator and even an accelerator for the growth of
the national digital economy and make Indonesia Digital Paradise, possibly creating
the next unicorns.”
The New Zealand Growth Capital Partners’ (NZGCP) Elevate New Zealand Venture Fund is committing NZ$14 million (US$10 million) into the Finistere Aotearoa Fund, which will target agri-food technology companies needing Series A and B investment. The fund will match Elevate’s commitment at least dollar-to-dollar with private capital. At first close at least US$28 million will be available to invest into agri-tech investments in New Zealand-connected entities.
According to a news report, the Finistere Aotearoa Fund will focus on commercialising New Zealand’s robust technology and intellectual property pipeline. The Fund is a subsidiary of Silicon Valley venture capital fund managers Finistere Ventures.
The Economic and Regional Development Minister, Stuart Nash, welcomed the new Elevate commitment. “The government’s Agritech Industry Transformation Plan was launched last year. In that, we highlighted that investment was a key constraint for the sector, so we welcome the creation of this specialist fund and look forward to its productive contribution to New Zealand’s transformation.”
The New Zealand government’s investment and commitment to a zero-emissions national agriculture strategy has turned the country into a centre for agricultural excellence, according to Arama Kukutai, co-founder and partner of Finistere Ventures. The New Zealand operation will be managed by long-time investment manager Dean Tilyard and based in Palmerston North. Finistere Ventures has a global agri-tech focus with offices in the United States, Ireland, and Israel.
New Zealand has become a world leader in agricultural research and innovation focused on curtailing the environmental impact of agriculture. “Having a strong local presence in Aotearoa has long been on our agenda. We are excited to partner with NZGCP to support the global commercialisation of New Zealand’s most promising agri-food technology advancements,” Kukutai stated.
NZGCP was established by the New Zealand government. As per its website, NZGCP aims to stimulate a well-functioning capital market for early-stage technology companies. Its investment vehicles are designed to stimulate private investment into this space through fund of funds and co-investment models.
Finistere Ventures is aiming for a final close of NZ$42 million (approximately US$30 million), which if achieved would see Elevate’s contribution rise to NZ$21 million (US$15 million). James Pinner, the investment director of Elevate, said, “Finistere and Dean Tilyard established Sprout, a Callaghan tech incubator based in Palmerston North with a strong agri-tech focus, and the fund has a number of existing New Zealand investments including BioLumic, Invert Robotics, and CropX – all three have also been supported by NZGCP via our Aspire fund.”
The Aspire Fund is one of two NZGCP investment vehicles created to promote private investment. The Aspire Fund does this through partnering with other private investors to make direct investments into early-stage (proof of concept and seed stage) companies. The Elevate Fund does this through using best practice fund of funds management to invest into venture capital firms looking to fund New Zealand companies at the Series A and B stages.
The group is also involved in a range of market development initiatives alongside investors, New Zealand Private Capital, and the Angel Association of New Zealand. It has a market development mandate and seeks to partner and collaborate with a wide range of government bodies and private investors. It intends to help develop the early-stage New Zealand investment market and ultimately help early-stage New Zealand companies grow.
Singapore’s Cyber Security Agency (CSA) has issued an alert following the discovery of vulnerabilities in more than 100 million internet-connected devices globally. The CSA’s Singapore Computer Emergency Response Team (SingCert) said that administrators of the affected stacks are advised to apply security patches immediately.
Security patches have already been rolled out to address threats called Name: Wreck. These bugs are a set of Domain Name System (DNS) vulnerabilities that have the potential to cause either Denial of Service (DoS) or Remote Code Execution, allowing attackers to take targeted devices offline or to gain control over them. The widespread use of popular sets of rules called stacks and often external exposure of vulnerable DNS clients lead to a dramatically increased attack surface. Organisations in the healthcare and government sectors are the most affected, said, security researchers. Other sectors implicated include entertainment, retail, manufacturing, financial services, and technology.
A cyber-security firm’s report said that Name: Wreck affect these stacks, which govern how devices can “talk” to each other over a network such as the Internet. However, the firm said that not all devices running the affected stacks are vulnerable, but it conservatively estimated that if 1% of the more than 10 billion deployments are, then at least 100 million devices are at risk.
Potentially affected equipment and devices include consumer electronic products such as wearable fitness products, smartphones, printers and smart clocks, ultrasound machines, defibrillators, patient monitors and critical medical equipment such as magnetic resonance imaging, storage systems, industrial manufacturing robots, and energy and power equipment in industrial control systems.
Also affected are unmanned combat aircraft, commercial aircraft, self-driving cars, space exploration rovers and critical systems for aviation, and high-performance servers and network appliances in millions of IT networks. It is not clear how many devices in Singapore are affected by these bugs.
The cybersecurity firm added that unless urgent action is taken to adequately protect networks and the devices connected to them, it could be just a matter of time until these vulnerabilities are exploited, potentially resulting in major government data hacks, manufacturer disruption or hotel guest safety and security. The firm said that one way a cybercriminal could exploit Name: Wreck is to compromise ultrasound machines that connect to a website to get firmware updates. They could also use the bug to redirect the ultrasound machines to their sites to download fake firmware which is malicious. The infected ultrasound machines could then be instructed by the malware to upload all medical records to the cybercriminal.
Although security patches have been rolled out, the cyber-security firm said patching can be difficult in some cases. For instance, if affected devices are not managed centrally, it means each one must be manually patched. Some devices also cannot be taken offline for this because of their mission-critical nature, such as medical devices and industrial control systems.
If patching is not available, SingCert advised administrators to enforce segmentation controls and proper network hygiene measures such as restricting external communication paths and isolating vulnerable devices. They should monitor patches released, monitor all network traffic for malicious data, and configure devices to rely on internal DNS servers.
Accordingly, the CSA’s core mission is to keep Singapore’s cyberspace safe and secure, to underpin National Security, power a Digital Economy, and protect the country’s Digital Way of Life. To underpin National Security, CSA continuously monitors cyberspace for cyber threats and protects and defends Critical Information Infrastructure (CII) to ensure the continuous delivery of essential services to Singapore residents. The agency analyses the risks that the threats pose and take appropriate mitigation measures to prevent them from affecting users.
Nonetheless, despite its best efforts, cyber-attacks may still succeed. To deal with them, the CSA have incident response teams who stand ready to investigate, contain and remediate serious cyber-attacks on our CIIs. CSA also regularly conducts cybersecurity exercises to ensure that the critical sectors are ready to respond promptly and effectively in the event of an attack.
The use of a simple organic molecule during the fabrication of a two-dimensional (2D) perovskite results in one of the highest recorded efficiencies for perovskite-based devices. Light-emitting diodes (LEDs) employing this 2D perovskite material achieved an external quantum efficiency as high as 20.5%, which rivals the best organic LEDs, according to research co-led by City University of Hong Kong (CityU).
Led by Professor Andrey Rogach, Chair Professor at the Department of Materials Science and Engineering, CityU, and his collaborator Professor Yang Xuyong from Shanghai University, the research team has worked on 2D perovskite materials and succeeded to realise such efficient and bright green LEDs.
Their technology yielded the best-reported performance on both current efficiency and external quantum efficiency. This work has now put the perovskite LEDs close on the heels of current commercial display technologies, such as organic LEDs.
The findings were published in the scientific journal Nature Communications, titled “Smoothing the energy transfer pathway in quasi-2D perovskite films using methane sulfonate leads to highly efficient light-emitting devices”.
The key to the powerful change lies in the addition of around 10% of a simple organic molecule, called methane sulfonate. This molecule reconstructs the structure of the 2D perovskite nanosheets, while simultaneously enhancing exciton energy transfer between sheets of different thicknesses. It is also useful in reducing defects in the 2D perovskite structure, contributing to higher efficiency.
The consequences for producing better LEDs are encouraging. The brightness of 13,400 candela/m2 at a low applied voltage of 5.5 V and external quantum efficiency of 20.5% is recorded. This is close to the maximum that can be achieved by many existing LED technologies and has almost doubled the external quantum efficiency level of 10.5% reported in the previous collaborative study of the same groups two years ago.
“The CityU team has built up its expertise on perovskite materials to a very high level in a relatively short period of time, thanks to funding support from Senior Research Fellowship by the Croucher Foundation,” said Professor Rogach.
“The high brightness, excellent colour purity, and commercial-grade operating efficiency achieved marks 2D perovskites as an extremely attractive material for future commercial LEDs, and potentially also display technology. It’s a tangible outcome from both fundamental and applied research into novel nano-scale materials” he adds.
Other collaborators include researchers from CityU, Shanghai University, Jilin University, University of Science and Technology of China, Nankai University, Wuhan University and the Chinese Academy of Sciences.
Innovation in LED tech
According to an earlier OpenGov Asia article, researchers at the Hong Kong University of Science and Technology (HKUST) have discovered a novel way to enhance the efficiency of the ultraviolet (UVC) light-emitting diode (LED) disinfection technique and developed a closet that could kill 99.99% of the bacteria and viruses on the garment inside within a minute. The closet is now in use at three special schools under Po Leung Kuk.
UVC is widely used for disinfecting purposes in private and public facilities, but the light source of existing UVC disinfection products are mainly mercury lamps, which not only has lower germicidal efficiency but is also bulkier with a much shorter lifespan than the LED light.
Moreover, mercury lamp has a longer disinfection cycle and requires time for warming up while LED emits light instantly. Since last year, over 140 nations, including the US, EU, China, Japan and Australia, have implemented a treaty on gradually phasing out the use of toxic mercury in commercial and industrial processes.
However, despite LED lights’ superiority over its mercury-based counterpart, it is not yet widely adopted in sterilisation products due to its narrow beam angle and low output efficiency with traditional single-layer reflector.
Dozens of students, lecturers, and officers at the Posts and Telecommunications Institute of Technology (PTIT) can now use motorbike parking services, keep track of class schedules, check exam scores, and pay for meals entirely on their smartphones.
PTIT is a key human resource research and development unit of the Ministry of Information and Communications (MIC). With the aim of promoting digital transformation to improve the quality of training and research, the Institute deployed the PTIT S-Link mobile application for students, lecturers, and managers with essential functions.
PTIT S-Link sends students alerts about an upcoming lesson. It notifies the user about learning subjects, venues, and other detailed information about the class. The app was made operational in late 2020 and has over 12,000 downloads.
According to a press release, a digital university is taking shape at PTIT. In September 2020, during a talk with PTIT members, the MIC Minister, Nguyen Manh Hung, noted that PTIT, a “miniature society” with young dynamic people has favourable conditions to build a digital society. To prepare the labour force for digital transformation, an online university is the best way to “train digital citizens”. The Institute plans to unveil D-Lab, an online practice platform, S-Class, a smart class platform, and an intelligence operation centre (IOC), shortly.
The Ministry of Education and Training (MOET) said Vietnam is striving to become a leading country with a fully digitised educational sector. It wants to produce a Vietnamese workforce that has globally recognised digital transformation knowledge and skills.
Though the institute has been using IT in its activities for many years, it still faces difficulties upgrading the application. The biggest problem is the lack of a digital university model and transformation at the Institute. In the first period, PTIT is focused on researching and shaping the architecture of the digital university and completing the digital transformation plan by 2025.
With the spirit of carrying out digital transformation in accordance with the “miniature digital nation”, the institute studied national policies and built its digital transformation plan under the three pillars of the national digital transformation programme: digital administration, service, and society.
“The fourth quarter of 2020 and first quarter of 2021 will be the time for the institute to cooperate with a digital technology firm to build a digital university,” Hung said. The Minister’s proposal spurred on development in the institute, the release noted.
In December 2020, Minister Hung stated that one digital university has likely become eligible for pilot transformation. With instructions from the Minister, the institute has become one of the pioneers in building and applying a digital university model. PTIT is not, however, the only digital school in the country.
The targets set in the Hanoi National University’s development strategy by 2030 are: reforming teaching methods towards modernisation, integrating personalisation into IT platforms, and creating learner-centric infrastructure. It also aims to establish intelligent university management and organisation models, execute comprehensive digital transformation in all activities, and operate the shared digital data knowledge system synchronously. The university will interconnect data for effective administration, management, and the renewal of teaching, learning, and research activities. One of the key tasks in 2021-2025 of the school is perfecting the modern university management and organisation model in association with building smart universities.
Invest Hong Kong (InvestHK) co-organised a webinar with the Moscow Chamber of Commerce and Industry (MCCI) on 7 April 2021) to update Russian companies on Hong Kong’s latest business environment under the new normal, and encouraging them to tap the business opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development.
Speakers at the webinar provided Russian companies with the latest information on business opportunities in Hong Kong regarding retail, e-commerce and import trade. They also highlighted how the city can tap opportunities amid rapid changes related to the world’s digital transformation in the face of the global pandemic.
The event started with welcoming remarks by the Vice President of MCCI followed by a video presentation on Hong Kong under the new normal. This included business opportunities, challenges and prospects from the Associate Director-General of Investment Promotion at InvestHK.
He said that the pandemic has fuelled a digital transformation globally and Hong Kong is ready to benefit. The Hong Kong SAR Government is committed to promoting the development of innovation and technology (I&T), with a special focus on research and development, state-of-the-art I&T infrastructure, a tech talent pool, investment funding and other support measures to improve the ecosystem for start-ups.
Russian companies can leverage the city’s sophisticated technology ecosystem to meet the growing demand for digital marketing and technology-related services in the Mainland and across the region.
He added that the GBA development offers huge business opportunities to Hong Kong in various areas. He urged Russian companies to set up a presence in Hong Kong and make use of the city’s status as an international finance centre, the low and simple tax regime, its robust common law legal system and vibrant business environment to expand into the lucrative Mainland market.
InvestHK’s Principal Consultant in Moscow told the webinar, “Through this webinar, we aspire to unveil the unparalleled advantages that Hong Kong grants to all sorts of entrepreneurial minds and daring corporations eager to expand into Asia and globally with all our expertise and care.”
An Entrepreneur and the Founder and Managing Director of a venture studio and consulting firm, based in Hong Kong and Co-Founder of Digital Week Online, a Business Development Specialist also shared his experience in doing business in Hong Kong, highlighting the business opportunities in retail, e-commerce and importation to Hong Kong.
InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies.
Hong Kong: an emerging tech hub
Hong Kong is rapidly emerging as a regional tech hub. Key IT infrastructure includes Hong Kong Science Park and Cyberport.
Hong Kong Science Park aims to transform Hong Kong into the regional hub for innovation and technology development. Home to 600 technology companies and about 13,000 technology talents, Science Park is a complete ecosystem that connects stakeholders, nurtures talent, facilitates collaboration, and drives innovation for commercialisation.
A leading information and communication technology hub in the Asia-Pacific region, Cyberport is a creative digital community of over 900 digital tech companies engaged in various forms of digital technology, such as FinTech, eCommerce, IoT/Wearables and Big Data/Artificial Intelligence.
The Philippines’ Department of Information and Communications Technology (DICT) and the Department of Education (DepEd) strengthened the partnership between the agencies to clear the path towards the digitalisation of the education sector with the establishment of the Public Education Network (PEN).
The DICT and DepEd started coordinating on the development of the PEN last year. It is aligned with President Rodrigo Duterte’s directive during his 5th State of the Nation Address (SONA) last year for both agencies to connect all schools, especially last-mile schools, and DepEd offices nationwide.
Under the memorandum of agreement (MOA) signed between the two agencies, the DICT will provide medium to long-term assistance to DepEd, including the allocation of bandwidth from the DICT’s high-speed Internet infrastructure project, augmentation of DepED’s future satellite capacity through DICT’s existing very small aperture technology (VSAT) satellite and teleport facilities, the building of internet backbone up to last-mile schools under the DICT’s National Broadband Programme (NBP), and the provision of data transport service using DICT’s fibre optic network under the Government Network (GovNet) project and Microwave towers.
Under the agreement, the DICT will also give immediate assistance to the DepEd on advocating for the presence of ICT service providers in public school premises; provisioning of online resources, materials, and systems for educational use; giving teachers and learners access to DICT’s Tech4Ed facilities and its attached computer laboratories and research facilities; and coordination with the National Telecommunications Commission (NTC), among others.
The agencies also inked a separate MOA for the use of suitable real estate properties owned or under the administration of DepEd as sites or locations for the implementation of DICT’s Shared Passive Telecommunications Tower Infrastructure (PTTI) or the Common Tower Initiative.
According to the DICT, education shall continue to play a key role in the socio-economic prosperity of a nation. Hence, the country needs to envision how education can emerge stronger, more responsive, and more effective from this global crisis than ever before. To do this, the agency is continuously assisting the DepEd with the transition from a traditional classroom setting to blended learning and shall continue to draw on the benefits provided by ICT to make this shift possible.
The DepEd said this partnership is designed not only to deal with COVID-19 but also to deal with the future. The agency hopes to improve the education sector with the help of partner agencies.
Accordingly, as reported by OpenGov Asia, the Philippine Full Digital Transformation Act of 2020 mandates all government agencies, government-owned and controlled corporations (GOCCs), instrumentalities and Local Government Units (LGUs) to adopt a digital plan that aligns with the Philippine Digital Transformation Strategy 2022.
With COVID-19, digital transformation in the government has taken on a sense of urgency. Contract tracing and distribution of aid could be smoother if data is harmonised, and digital systems are put in place more comprehensively. Lawmakers in the country plan to harmonise collected personal data of Philippine citizens, businesses, land, and transactions, among others. Further, it will open opportunities that will likely drive the government to invest in developing additional organisational capability and staff competencies.
With all these plans taking on urgency in the light of the pandemic, the government predicts it will be expedient to build a Digital Transformation Department to manage the ambitious and yet highly practical investment. The department would be expected to support and roll out the office’s digital transformation strategy. Lawmakers in the country stressed that there is no reason to delay the drive to realise the full modernisation of government services to serve Philippine citizens – adequately, efficiently, and securely.
More data centre and warehouse developments will qualify as state significant developments (SSDs) in NSW under planned changes to the state’s planning approvals process. The reforms, which come into effect in June, will temporarily lower the threshold for facilities to be assessed as SSD for two years to fast-track approvals and stimulate economic activity.
SSD is a type of development deemed important due to its size, economic value or potential impact, requiring Independent Planning Commission or ministerial sign-off before it proceeds. Proposals are assessed by the Department of Planning, Industry and Environment, instead of local councils.
The threshold for data centres will fall “from $50 million CIV [capital investment value] to 10 megawatts total power consumption (which roughly equates to a CIV of $40 million)”. Warehouses, on the other hand, will fall from “$50 million CIV to $30 million CIV for a two-year period” before reverting to $50 million CIV. The department said the changes will “more accurately” reflect the scale, complexity and potential impact of data centres and warehouses, providing a “clear and more certain planning pathway”.
The Planning Minister stated that the reforms would allow projects to travel through the planning system more quickly at a time when demand for data centres and warehouses is increasing. “During the pandemic, there has been a noticeable shift closer towards e-commerce, remote working and cloud storage which has led to an increase in data centres and warehouses. These are great for stimulating the economy – they’re simple to build, simple to assess and create a higher number of direct and indirect jobs,” he said.
Data centres and warehouses represent a $4.9 billion pipeline of projects so by lowering the threshold to assess more of them as SSD, the NSW Government is pushing them through the planning system more quickly. The Minister added that the number of planning assessment officers would also be boosted to help manage the demand as a result of the changes.
The SSD assessment pathway reforms come as the department plans further changes to the SEEPs to streamline the delivery of smaller data centres through the complying development pathway. The pathway offers an accelerated approvals process by the council or an accredited certifier for “straight forward developments”, as long as they “meet strict construction and building standards”
It follows a noticeable increase in the number of data centre development applications, particularly using the regional development of SSD pathways. “This means we’re making it easier to build small-scale data centres without lengthy planning approvals while providing a swifter pathway for large scale ones,” the Minister said.
Each data centre development is estimated to contribute up to $1 billion in construction and fit-out costs to the NSW economy. The Managing Director of an Australian cloud, data centre, government cybersecurity and telecom company said that the reforms were “really practical” and would “support NSW’s short-term economic recovery”.
His company has invested more than $200 million in the past year alone building two facilities. The firm is proud to be part of that economic rebuild and look forward to continued partnership with the state and federal government to do more, he added.
The Managing Director of Australia’s branch of the world’s largest data centre and colocation infrastructure provider also welcomed the announcement. “With eight data centres in the state today, any legislative changes that speed up the planning system is an important step forward,” he said.