The Greater Bay Area’s artificial intelligence (AI) industry is expected to be worth more than RMB50 billion by the end of this year, accounting for more than 30% of the country’s market.
Continue reading AI industry booming in GBA
Shenzhen is witnessing a new growth spurt in its robotics industry. According to a report by the city government, robotics enterprises registered in Shenzhen last year jumped 55% to 649, while their output rose 13.81% to RMB117.8 billion.
The report encompassed robots manufactured for industrial use, service and other related AI fields. The majority of the output value last year came from industrial robots – RMB80.3 billion, up 6.25% – yet service robots saw the biggest jump, up 21.79% to RMB 34 billion. Driving this growth has been investment in artificial intelligence applications in the industry.
Continue reading Shenzhen’s robotics industry booms
Instead of seeking an IPO overseas like many in its field, UBTech Robotics, the Shenzhen-based manufacturer of human-like robots backed by Tencent, is planning its IPO in the new tech board in Shanghai.
The board was launched in Shanghai last month, with more relaxed listing requirements than other Chinese exchanges. More than 100 tech companies have applied to list, aiming to raise US$16 billion in total. But large companies are yet to come.
Continue reading UBTech Robotics sets sights on Shanghai IPO
A promising robotics company with its R&D facilities in Shenzhen has filed with the SEC to do an IPO in the US, according to local media. If successful, CloudMinds will raise US$500 million.
Founded in 2015, CloudMinds calls itself an “intelligent cloud robot developer”. Headquartered in Beijing, but with R&D facilities in Shenzhen and Silicon Valley, it was founded by William Huang Xiaoqing, Dean of the School of Electronic Information and Communications of Huahzong University of Science and Technology. He previously headed China Mobile’s Communications Research Institute.
Continue reading Robotics firm CloudMinds aims for US IPO
IBM announced that it has opened an Innovation Center in the Hong Kong Science and Technology Park. The center will connect the company’s global research and development resources to the city, and enable collaboration and co-innovation with partners, clients, government and academia.
It aims to enable digital reinvention of five major industries, including: banking and financial services; insurance; retail, distribution and trading; manufacturing; and travel and transportation. Areas of innovation will focus on Fintech, InsurTech, Smart Retail, IoT, Video Analytics, Blockchain, AI and robotics, among others.
The Center is designed as a studio setting to facilitate design thinking workshops or Garage methodologies for ideation and co-creation, as well as realization of concepts.
Scientific research institutions from Hong Kong and Macau are now eligible for research funding granted by Guangdong and may use them in the SARs, according to a report in China Daily Hong Kong.
Previously, institutions from the two special administrative regions had to form joint ventures with other mainland institutions or set up branches in Guangdong.
Under the new three-year pilot scheme, which was unveiled this week, two institutions from Hong Kong and Macau will enjoy equal rights with their counterparts in Guangdong in competition for a total of RMB500 million (US$74.2 million) in funding and key sci-tech projects supported by the province.
The policy also encourages cooperation in key fields identified by the Greater Bay Area masterplan, such as artificial intelligence and robotics.
Read more here.