Latest news with #Jumpstarter
South China Morning Post
04-05-2025
- Business
- South China Morning Post
Pharus, an AI-powered cancer test developer backed by Li Ka-shing, taps Hong Kong funds
Pharus Diagnostics, a Li Ka-shing -backed developer of diagnostic tests for cancer powered by artificial intelligence (AI), said it would tap into fundraising channels in Hong Kong. Advertisement The Taiwan-based start-up aims to complete a round of fundraising and a clinical study on lung cancer by the end of the year, said CEO Philip Huang. 'Currently, we have received commitment from just over half the target of our next round of fundraising,' Huang said in an interview on Tuesday, without divulging the target. 'Hong Kong is a great place for raising funds, piloting innovative diagnostic tests and accessing the mainland China market.' Pharus, whose investors include Li's CK Hutchison Holdings and CK Life Sciences, is also developing a test for early screening of individuals at risk for pancreatic cancer. It adopts microRNA biomarkers licensed from City of Hope, a top US cancer research hospital. In March, Pharus won this year's Jumpstarter technology start-up competition organised by Alibaba Entrepreneurs Fund (AEF), a part of Alibaba Group Holding, which owns the Post. The fund seeks to support Hong Kong's start-up ecosystem. Advertisement AEF CEO Cindy Chow said potential investors have approached Pharus through AEF and expressed interest in taking part in its next fundraising. AEF has invested in a string of biotech start-ups in the city and it is also interested in investing in Pharus, she said.
Zawya
04-04-2025
- Business
- Zawya
Funding options – what will work best for your small business?
One of the biggest hurdles for any entrepreneur is securing the right type of funding to turn their ideas into reality or to grow their business. With so many financing options available these days, it can be overwhelming to determine the best fit. The truth is that no single funding option is inherently better than another as each comes with its own benefits, trade-offs and considerations. Jeremy Lang, managing director at Business Partners Limited So, how do you know which one is right for you and your business? Here's a breakdown of five of the most common business funding options and what they offer. 1. Traditional bank loans Banks have historically been the go-to source of financing for anything, including businesses. A traditional bank loan typically requires collateral, a solid credit history, and a detailed business plan. For business owners who want to maintain full control of their company, this type of funding is ideal as banks do not take or request equity in your business. Interest rates are also generally lower than those of alternative lenders, but the application process can be lengthy, with red tape processes, and approval is not guaranteed – especially for newer businesses without a proven financial track record. 2. Small business financiers Dedicated small business loan providers, such as Business Partners Limited, cater specifically to small and medium enterprises (SMEs). Small business financiers typically provide more flexible lending criteria than banks and may focus on factors like business potential, the entrepreneur's experience rather than just financial history. Some, like Business Partners Limited, also offer advisory and support services like mentorship, which help business owners make strategic decisions. 3. Venture capital (VC) Venture capital involves raising funds from professional investors who take an equity stake in high-growth businesses, often in the technology space or other high-growth and innovation sectors, like energy. While this funding can be substantial, venture capitalists expect relatively rapid returns and may require a say in business decisions on a frequent basis. If your goal is aggressive expansion and scaling, VC funding can provide the capital and expertise needed to fast-track growth. 4. Crowdfunding Crowdfunding allows businesses to raise small amounts of money from many people, typically via online platforms like Jumpstarter. There are different models, including reward-based crowdfunding (offering products or perks in return for contributions) and equity crowdfunding (selling small ownership stakes). Crowdfunding is particularly effective for consumer-facing businesses with a compelling story or innovative product. However, running a successful campaign requires significant marketing effort. 5. Government grants and incentives Governments and agencies often provide grants, incentives, or low-interest loans to support small businesses, particularly in key industries like manufacturing, technology, and sustainability. The grants and incentives do not need to be repaid and the loans are typically affordable, making them an attractive option. However, competition is high, and securing government funding requires meeting strict criteria and preparing detailed applications. When external funding isn't available, many entrepreneurs start by using their own savings or reinvesting business profits. This approach, known as bootstrapping, avoids debt and maintains complete ownership, but it can limit growth if personal funds are insufficient. It's important to remember that funding is not one-size-fits-all, and many businesses use a combination of options as they grow and evolve. Understanding the pros and cons of each option will help you make an informed decision that aligns with your business's current needs and future ambitions.
South China Morning Post
26-03-2025
- Business
- South China Morning Post
Alibaba chairman Joe Tsai questions AI's limits, casts doubt on humanoid robots
Alibaba Group Holding chairman Joe Tsai raised 'philosophical' questions on Wednesday to young entrepreneurs about whether machines could ever surpass human intelligence and cast doubt on the necessity of humanoid robots. Advertisement Speaking at the grand finale of Jumpstarter, an event organised by the Alibaba Entrepreneurs Fund designed to promote fresh start-up ideas, Tsai highlighted the transformative potential of artificial intelligence (AI) across industries, saying it is set to benefit society. However, he challenged assumptions about artificial general intelligence (AGI). Alibaba owns the South China Morning Post. 'How do you define 'smarter than human beings'?' Tsai asked the audience, noting that while AI can handle maths and coding much faster than human brains, it lacks the emotional intelligence, or emotional quotient (EQ), and compassion that define human interactions. 'All the positive encounters that you have with people that you love, people that you really enjoy spending time with, that judgment, that data, how does the machine capture that data in order to train AI to replicate the positive energy?' Tsai cited his experience in educating his children about interacting with others, making friends and expressing emotions in an appropriate way. None of this, he said, is captured in training data. Advertisement 'So without training data from the parents, I am not sure how we train the machine to make them 'smart humans' or 'smarter than human beings' with EQ and compassion,' Tsai said.
South China Morning Post
19-03-2025
- Business
- South China Morning Post
Jumpstarter 2025: innovating for a brighter future
A new role for artificial intelligence (AI) will be unveiled this month at one of Asia's leading tech and start-up events. The aim is to make AI a powerful catalyst for sustainable development, and more than just a revolutionary technology that changes the way we work. Advertisement Jumpstarter, a start-up initiative by Alibaba Entrepreneurs Fund (AEF), focuses on providing a platform for entrepreneurs and young people to kick-start their business ambitions in Hong Kong. This year's event, on March 26 and 27 at AsiaWorld Expo, will bring together entrepreneurs, corporations and investors to explore the future of innovation. Amid growing concerns about the environment across the world, the theme of this year's edition – the seventh Jumpstarter – is AI and sustainability, highlighting companies that are committed to blending innovation with responsibility. Attendees will have the opportunity to learn about the rapidly evolving landscape of technology and sustainability from thought leaders, including a diverse line-up of more than 100 speakers from around the world. Keynote speeches and panel discussions will focus on the most pressing aspects of AI, such as its ethical implications and its role in sustainability, entrepreneurship and investment. 'This year we will delve into a 360-degree overview of AI,' says Cindy Chow, executive director and CEO of AEF. 'The discussions are expected to inspire innovative thinking and encourage participants to explore collaborative solutions to the challenges they face, fostering a deeper understanding of AI's impact on society and the economy.' Over the past 10 years AEF has invested US$93 million to help fund 76 companies. Speakers will include Joe Tsai, co-founder and chairman of Alibaba Group, which owns the South China Morning Post; Ben Barone-Nugent, generative AI supergroup lead at Canva; and Erika Cheung, executive director of Ethics in Entrepreneurship. Cheung was one of the whistle-blowers in the controversy surrounding the now-defunct healthcare tech start-up Theranos. Hong Kong's Financial Secretary Paul Chan Mo-po will welcome attendees during his opening speech, highlighting the city's strategic role in fostering innovation and entrepreneurship. Advertisement Since its launch in 2015, AEF has reviewed more than 13,000 business plans and created over 2,200 jobs in Hong Kong. A core part of its mission is to connect promising start-ups with investment capital and offer strategic guidance to help them grow their business through high-impact networking opportunities. A one-on-one business matchmaking session during the event will give tech entrepreneurs, businesses and investors – including venture capitalists and angel investors – a platform to exchange ideas and discuss potential partnership opportunities.
