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5 in 5 minutes - July 28

Hong Kong Startup News Round Up

The L’oreal Innovation Runway: Calling for early-stage startups
Giddy up for The L’oreal Innovation Runway! This startup challenge launched by L’Oréal Research & Innovation is looking for early-stage startups or small-scaled enterprises in the Asia-Pacific region who has unique solutions for areas in personalised beauty, smart materials, natural materials, delivery technologies, and technologies. 

Get your submissions in by 31 July 2017 to win S$5,000 cash prizes, a S$50,000 startup grant, and the opportunity to work with L’Oreal and renowned mentors from vast industry networks.

Don’t miss out -- sign up now! 

Accenture’s FinTech Innovation Lab Asia-Pacific: Top 10 startups reveals
The annual 12-week accelerator program held by Accenture, a global management consulting and professional services company has made their decision and selected 10 startups to develop innovative solutions to tackle the real-world FinTech challenges. One of the ten chosen candidates is Hong Kong’s CoverGo, working towards automating manual insurance processes to improve and engage customer experience.

Don’t forget to tune in in November where the program will be culminated, where selected participants will present a “Demo Day” for venture capitalists and alumni who have raised more than US$135 million for the program. 

Agorize Asia partners with BNP Paribas Cardif for an open innovation challenge
It’s safe to say that InsurTech in Asia is on the rise. One of the very first Asian online startup competitions has been held on July 13th 2017! BNP Paribas Cardif, an international insurance company joint efforts with Agorize, Asia’s community builder that specializes in launching online innovation challenges. They invited startups to brainstorm initiatives to solve obstacles in the Asian insurance market.

The five finalists -- Japan’s P9, India’s Inclusive Services, Taiwan’s Trading Valley and Korea’s Smart Forecast and Finotek will have the opportunity to collaborate with BNP Paribas Cardif in the near future.

Oddup expands to India
In order for angel investors, crowdfunders and venture capitalists to invest in startups, they would need a reliable database that evaluates startups. That’s why Oddup was established and widely used. It’s a data-driven research platform that focuses on startups, allowing investors to invest in the right startup at the right time. Now, 
Oddup is expanding to India, one of the most rapidly tech startup developing regions in the world, meaning more opportunities and development for the startup scene! 

Razer seeks to raise over US$600M in Hong Kong IPO

The United States-based gaming firm Razer has filed to go public through an IPO in Hong Kong, looking to raise over US$600 million. Razer's last round of venture capital investment brought the company's valuation at US$2 billion. While half of its revenue comes from United States, Razer claims to be the top games accessories brand in China, representing 13 percent of sales. 

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