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5 in 5 minutes - August 18

Hong Kong Startup News Round Up

Plug and Play Announces Their Fall 2017 Batches, actiMirror enters Silicon Valley with the program

Plug and Play revealed 101 startups that made it to their Fall 2017 accelerator programs. Plug and Play have six accelerator programs that require no equity or fees: Brand & Retail, Energy & Sustainability, Fintech, Food & Beverage, New Materials & Packaging, and Supply Chain & Logistics.

With over 2,800 startups applying for the program, Plug and Play only accepted 3% of the qualified startups that applied to the cohort. Plug and Play runs their 12-week industry-specific programs twice a year, with 10-20 startups per batch.

Hong Kong X Technology Fund backs six startups

The Hong Kong X Technology Fund invested into six Hong Kong-based startups as part of the accelerator program, several of the startups will move into X-LAB co-working space during the accelerator program.

The 6 selected startups included BacMuno, Efinix, eTopus, PreciVax, Seasonalife and SmartSens. The fund is part of the Hong Kong X-Tech Startup Platform built in part by Sequoia Capital China.

SuperCharger FinTech Accelerator expands to Malaysia

SuperCharger launched its first FinTech accelerator in Malaysia, a 12-week free program to help FInTech startups scale their business in Asia. Applications for the first cohort closes on August 18, 2017. And the program will start in Kuala Lumpur on September 25, 2017. Apply here

First launched in Hong Kong in 2015, SuperCharger FinTech Accelerator Programme discovers and trains promising FinTech companies to scale in Asia. 16 international companies have undergone the program and delivered 12 proof of concepts, contracts and pilots.

Singapore's SingX raises US$4.5M

Singapore-based online remittance startup SingX has raised US$4.5 million in a pre-Series A round led by senior bankers and high net worth individuals from Singapore and Hong Kong. The funding will be used for customer acquisition and service expansion to Hong Kong, Malaysia and Australia.

350,000 Malaysians in Singapore are transfering money back to Malaysia. SingX, licensed by Singapore’s central bank Monetary Authority of Singapore (MAS), first launched its fund transfer service in India.

Singapore's LATTICE80 to launch in India

Singapore's FinTech hub, LATTICE80, will open a branch in India at the end of September. Based in Singapore, LATTICE80 is a not-for-profit organization that helps all players in the startup ecosystem, currently has offices in Hong Kong, Bangkok, Ulaanbaatar in Mongolia, and Jakarta. The FinTech hub plans to open offices worldwide, including London, New York, London and cities in the Middle East later

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