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United Nations Says There is No Credible Way to Avoid Climate Change

According to a bleak new UN study, there is “no credible pathway” to keep the global rise in temperature below the critical 1.5°C threshold.

Cyberport Venture Capital Forum 2022 Commences CIN 5th Anniversary with Facilitated Total Investment over HK$1.7 billion

HONG KONG SAR – Media OutReach – 28 October 2022 – The Cyberport Venture Capital Forum (CVCF), Cyberport’s premier annual venture capital event, commenced at Cyberport. This year’s event lasts two days and runs in a hybrid format. With the theme of “Thriving in the Dynamic: Refocusing for Growth“, CVCF 2022 gathered over 100 global venture experts and entrepreneurial leaders to discuss the latest situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living.

Cyberport Venture Capital Forum (CVCF) kicked off today, discussing the new situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living. The 5th Anniversary Celebration of the Cyberport Investors Network (CIN) is held on the same day. (From fourth right to third left) Simon Chan, Chairman of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group, Hendrick Sin, new Chairperson of CIN Steering Group and Peter Yan, Chief Executive Officer of Cyberport.

Cyberport Venture Capital Forum (CVCF) kicked off, discussing the new situation of the global venture capital market, investors and start-up financing strategies, new opportunities in Hong Kong and the Greater Bay Area (GBA) markets, as well as the development of start-ups and venture capital prospects in the field of smart living. The 5th Anniversary Celebration of the Cyberport Investors Network (CIN) is held on the same day.

(From fourth right to third left) Simon Chan, Chairman of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group, Hendrick Sin, new Chairperson of CIN Steering Group and Peter Yan, Chief Executive Officer of Cyberport.

In addition, the 5th Anniversary Celebration of Cyberport Investors Network (CIN) was held and announced Hendrick Sin, Co-Founder, Executive Director and Vice Chairman of CMGE Technology Group Limited the new Chairperson of Cyberport Investors Network Steering Group.

In this morning’s opening session, Professor Sun Dong, Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region (HKSAR) Government, delivered opening remarks. Simon Chan, Chairman of Cyberport, delivered welcoming remarks, together with Peter Yan, Chief Executive Officer of Cyberport, Cindy Chow, former Chairperson of CIN Steering Group and Hendrick Sin, new Chairperson of CIN Steering Group co-hosted the opening ceremony and officially kicked off the event.

Professor Sun Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government said in his opening speech,As announced by the Chief Executive in his Policy Address last Wednesday, we are promulgating the Hong Kong Innovation and Technology Development Blueprint which is going to lay out the future directions and major strategies for the I&T development in Hong Kong from the top-level perspective. The Government will also establish the Office for Attracting Strategic Enterprises to be led by the Financial Secretary for attracting strategic enterprises around the world. We will be working closely with this Office to attract top-notch I&T enterprises and talents to Hong Kong to strengthen the local I&T ecosystem and to power up the development of tech industry of Hong Kong. I trust that you share my excitement for the future of Hong Kong’s I&T landscape.”

Simon Chan, Chairman of Cyberport, in his welcoming remarks said, “Technological innovation was one of the key focuses at the recent 20th Party Congress. The Central Government emphasises science and technology as our primary productive force, and innovation as our primary driver of growth. In Hong Kong, the latest Policy Address laid out forward-looking and targeted measures to boost I&T advancement, expand tech talent pipeline, and attract new enterprises which are representative and with high potential to set foot in Hong Kong. With these new blueprints in place, we are encouraged by the promising outlook for I&T entrepreneurship. Cyberport is fully committed to accelerating start-up growth by enhancing the critical capability of fundraising for entrepreneurs. As a tech investor, Cyberport strategically leverages Cyberport Macro Fund (CMF) and Cyberport Investors Network (CIN) to drive investment from the local and global arenas, empowering start-ups’ expansion to the Mainland and overseas.”

Cyberport’s start-up with good fundraising performance

Despite the sluggish performance of the global venture capital market due to market uncertainties, the fundraising of Cyberport community companies has performed well over the past year. From October 2021 to September 2022, the Cyberport community companies have raised more than HK$15.5 billion, a significant increase of 176% compared to the same period last year, with a cumulative fund of HK$34.4 billion. Cyberport has been promoting and facilitating investment matching and supporting start-up fundraising through the Cyberport Macro Fund (CMF), with satisfactory performance during the same period. From October 2021 to September 2022, Cyberport injected capital through the CMF into three Cyberport start-ups, including GRWTH (EdTech), Wada Bento (FoodTech) and AVALON StreiTech (HealthTech). Since its establishment in 2016, CMF has approved a total of 25 projects, attracted co-investment of HK$1.55 billion, and raised a total of more than HK$1.725 billion, with an investment ratio of 1:9.

CIN 5th anniversary with accumulated investments over HK$1.7 billion

Cyberport Investors Network (CIN) has been helping the Cyberport start-up community to raise funds and provide investment insights and experience to promote the growth and development of start-ups. From October 2021 to September 2022, the CIN facilitated investment of around HK$580 million, with a year-on-year growth of around HK$80 million. Since its establishment five years ago, CIN has maintained more than 150 corporate members, including venture capital funds, private equity funds, angel funds, family offices, corporate venture capital, and more than 25 Greater Bay Area (GBA) investment members.

The CIN gets encouraging results that has facilitated investments of over HK$1.7 billion in total, supporting 67 projects in the process. Cyberport is thankful for the excellent leadership of Cindy Chow, the Executive Director, of Alibaba Hong Kong Entrepreneurs Fund in the past two years, and announced at the forum that Hendrick Sin, Co-Founder, Executive Director and the Vice Chairman of CMGE Technology Group Limited will be the new Chairperson of Cyberport Investors Network Steering Group.

Cindy Chow, former Chairperson of Cyberport Investors Networking Steering Group said, “My three years in this position have been very rewarding. Although tech investment has witnessed many ups and downs in recent years, I am proud to share that above all CIN has largely come out on top. We have further bolstered our partnership with the Cyberport Macro Fund to facilitate deal flow and provide more targeted matching. The macro-environment will remain challenging in the near term, and start-up fundraising will remain difficult. Nevertheless, CIN will continue to support the Cyberport ecosystem by bringing in more international investors. Meanwhile, we will carry on to engaging with our members based on their sector interests and stage appetite to help them identify the right investment opportunities, thereby enhancing Cyberport start-ups’ fundraising and deal-making capabilities.”

Regarding CIN’s future, Hendrick Sin, new Chairperson of Cyberport Investors Network Steering Group said, “It is indeed an honour and a pleasure for me to take up the baton and carry on the vital mission of CIN. We’ll step up CIN’s strategic collaboration with members and strengthen the link between industry organisations and Cyberport start-ups. We’ll also organise more activities to help start-ups improve their fundraising and deal-making skills. We’ll amplify our impact by continuing to expand and diversify CIN’s membership, and align investors more closely with Hong Kong’s current and upcoming I&T needs. This includes engaging more investors from the GBA and across the world to review investment opportunities from the Cyberport community.”

Analysis of I&T and investment hot topics

This year focuses on revealing new drivers of market. There are three key panel discussions inviting guests including Rebecca Fannin, founder of Silicon Dragon, an internationally renowned venture capital platform, and representative from Quest Ventures, Hony Capital, etc. They featured the current macroeconomic trends and regional political landscape. Duncan Chiu, HKSAR Legislative Council Member (Technology and Innovation), together with industry leaders such as Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund, reviewed Hong Kong’s I&T ecosystem. Hendrick Sin, Co-Founder, Executive Director and the Vice Chairman of CMGE Technology Group Limited, and many experts gave their insights on the investment potential of the GBA.

There were many sessions to explore a number of I&T hot aspects including Green Finance, HealthTech/ MediTech, Metaverse, BioTech, CleanTech, ConstructionTech and Artificial Intelligence (AI), etc. Dr Kai-Fu Lee, Chairman and CEO of Sinovation Ventures; President of Sinovation Ventures Artificial Intelligence Institute, shared his predictions on how our world will be reshaped by AI. Dr Finian Tan, Founder & Chairman of Vickers Venture Partners, analysed the latest development in emerging technologies such as CleanTech, BioTech and other energy aspects.

Smart Living Venture Day and Start-up Workshop tomorrow

Smart Living Venture Day, another notable event at this year’s forum, will be held tomorrow (28 October) for the first time. Under hybrid format, the event brings together more than 20 industry leaders, scholars, investors and start-ups to discuss the development of EdTech, ArtTech, GeronTech and SocialTech. Star speakers include John Tsang, Founder of Esperanza, Dr Joseph Wong, Executive Director, Hong Kong Design Centre, Dr Carmen Ng, General Manager (Elderly Services) of the Hong Kong Housing Society, Francis Ngai, CEO of Social Ventures Hong Kong, etc.

Start-up Workshop will be held in the afternoon, where business experts will provide free consultation services and financing strategies. There are also interactive sessions on the Start-up Clinic online platform. Experts will provide free one-to-one consulting services, covering topics such as marketing, law, accounting and financing strategies.

The CVCF online platform will open for one month, providing a series of forums and seminars, and an online system to match start-ups and investors, as well as Innovator Showcase providing more than 20 onsite booths and over 100 online booths for start-ups to showcase their innovative technology solutions, submit project proposals and get an opportunity to match up with prospective investors, ensuring a comprehensive platform for business development and assist start-ups in securing opportunities for additional venture capital.

For more details about the CVCF 2020 programme schedule and full speaker line-up, please visit: http://cvcf.cyberport.hk/

Hashtag: #Cyberport

About Cyberport

Cyberport is an innovative digital community with over 1,800 members including over 800 onsite and 1,000 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors.

For more information, please visit

Augmented Reality Interactive Fitness Games by Gym Aesthetics Set to Revolutionise the Global Fitness Industry

Joint Guardian Five-Time MMA & Muay Thai World Champion – Alain Ngalani “The Panther” Wowed the Crowd with Live Demonstration and Signature Performance

HONG KONG SAR – Media OutReach – 28 October 2022 – The implementation of augmented reality (AR) in sports is set to redefine the fitness industry, offering entertaining experiences and providing significant analytics for players to enhance their playing skills. Gymetaverse by Gym Aesthetics is ready to lead the online “virtual training” trend.

German sports brand, Gym Aesthetics (GA) partnered with the Physical Fitness Association of Hong Kong, China (PFA) to exhibit at the 15th Health Expo 2022 at the Hong Kong Convention and Exhibition Centre. First time introducing AR interactive fitness games to the public, the brand invited its brand ambassador, five-time MMA & Muay Thai World Champion, Alain Ngalani “The Panther”; and Hong Kong TV hosts, Brian Chan and Agnes Lam, to first experience the live AR games, including “Goal Keeping”, “Jump & Dunk”, and “Single Leg Balance”.

Alain has been keeping in his top of shape and been fighting professionally in the One Championship competitions despite being at the age of 46. He joined Gym Aesthetics at the Expo and challenged to the AR interactive training games with Brian and Agnes. The world champion showed us how he defied age by taking care of his muscles and joint health.

During the AR fitness games, Brian’s “Goal Keeping” result was recorded as quick as 0.45s, whereas Alain’s “Jump & Dunk” result hit an all-time-high at 1.03m. Agnes also showed impressive results in the balancing challenge. Gym Aesthetics aimed to raise joint health awareness through fun educational facts and interactive fitness games.

As Gym Aesthetics’ “Joint Guardian”, Alain “The Panther” volunteered and led Brian and Agnes to do some live training demonstration with the audience, where they shared their workout tips and showed us some simple exercises that could benefit knee joints and strengthen surrounding muscles. To close the event, Alain brought his team on stage to demonstrate some powerful boxing training and impressive pad work. The world champion even surprised the crowd with his signature performance “Leg Split in the Air” and elevated whole event.

Alain as the “Joint Guardian”, is missioned to educate and show us the importance of joint health and how supporting gears can benefit and extend our joint lifespan. He will soon be launching an exclusive training course for strengthening joints and muscles. Stay tuned on Gym Aesthetics Facebook and Instagram platforms for more details.

Gym Aesthetics joined the PFA 35th Anniversary on the main stage for a Community Health & Sports Sharing Session throughout the 3-day Expo. The brand’s Digital Marketing Manager, Roy Tsang, shared the brand’s visions of sports safety, “GA’s vision was to remind everyone to protect their joints before doing sports to prevent injuries. We were all “Joint Guardians” to ourselves and missioned to extend our joint and sports lifespan.” With supporting gears GA Fit Gear PRO, including knee, elbow, and calf sleeves, they ingeniously help with joint stability and balance, while reducing joint pain with increased blood circulation that aids muscle recovery.

To support the concept of “Sports for All” that includes the disabled community, Gym Aesthetics sponsors an NGO event “Wheel For Oneness” that will take place on 29th October. Gym Aesthetics has also been working with professional athletes and coaches, and will launch a FitToEarn fitness training mobile app “Gymetaverse” next year. Through AR amplification and AI technology, the brand aims to launch engaging projects where participants can win prizes by completing challenges, and promote the big health concept.

Hashtag: #GymAesthetics

About Gym Aesthetics

Founded in 2013, Gym Aesthetics is a German high-tech fitness apparel brand appealing to both the aesthetics and the functional needs of its customers worldwide. Its initial flashy wide stringers and thigh-hugging shorts stormed the German bodybuilding community with enormous success. 2017 marked a new chapter for Gym Aesthetics when an Asian fund company spotted its potential and invested in the German brand to further reinforce its brand image, and expand its product range and market share globally. Now Gym Aesthetics is devoted to bringing unique fitness and wellness experience to the metaverse.

Website:
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Govt to Double its Efforts to Tackle Economic Crisis and Drug Trafficking

Prime Minister Phankham Viphavanh

Government agencies have been urged to double their efforts in addressing the two national agendas that look at tackling the ongoing economic crisis and drug trafficking.

BIB Meta announces the white paper on staking rules and revenue composition of community nodes

As a decentralized Web3 application of the World Cup theme, BIB Meta has made a bold attempt with its unique eco-economic model design.

TAIPEI, TAIWAN – Media OutReach – 28 October 2022 – BIB Meta, the world’s first Web3 eco-exchange, recently opened the NFT auction, and at the same time opened the node staking function, which aroused strong market concern. BIB Meta is built by BIB Exchange and is compatible with DeFi, NFT and GameFi. It integrates the dimensions of NFT selling, trading, synthesis, competition quiz, card collection, community nodes, and virtual sports games, and builds a huge Web3 ecosystem.

Community is the most comprehensive and important core function of BIB Meta. Users can create community nodes by pledging Samsung or four-star NFT star cards and entrusting a certain amount of BIB Token as node start-up money.

When users staking the NFT of three and four stars, they can get a community certificate NFT representing ownership. The NFT represents that the user has the ownership of the star card NFT staked by the corresponding node and the node startup fund. The NFT can be traded, and at the same time, its corresponding rights and interests will be transferred.

Staking Rules and Supernodes

Users who hold BIB Token can entrust the Token to the node to obtain mining revenue of BIB Token. Mining revenue comes from linear release of blocks and BIB Meta ecological revenue. The revenue that users can get will be determined by the proportion of the staked amount to the total staked amount.

On the other hand, the node owner can adjust the amount of node startup money. Smart contract allows users to upgrade 3-star nodes to 4-star nodes. BIB Token in the node lock position does not need to be migrated. Community nodes that have obtained the top 30 BIB Token numbers of users and other community nodes and have no superior nodes automatically become super community nodes.

Detailed explanation of community revenue

As an important part of BIB Meta ecology, community nodes can naturally get rich benefits. The revenue sources of a community can be divided into four parts.

Entrust revenue of start-up fund (consists of two parts), monthly revenue of super node and staking revenue of NFT.

(1)Community revenue pool accounts for 55% of the total prize pool. This part is divided into two parts, in which 80% of the proceeds are distributed to users who entrust BIB tokens to nodes, and 20% to owners of nodes;
(2) The monthly revenue of super nodes accounts for 5% of the total prize pool, which is distributed to super nodes on a monthly basis, and distributed according to the proportion of the total commissioned amount (including the commissioned number of lower nodes);
(3) NFT staking revenue accounts for 40% of the total prize pool, which is only distributed to NFT staking users according to the star rating and gradient of star cards.

All the above proceeds are BIB currency-based revenue. In addition, as a community node, the node startup fund included in the node will have the right to receive dividends in cash, and the dividends in cash will be distributed as BUSD, that is, U standard.

Ecological stimulation-community node is not only a POS mechanism

Users of BIB Meta community nodes can attract more users into the ecology through network publicity, community building and other KOL-like behaviors, and staking their BIB Token to this user’s node. The more the number of stakings, the greater the probability that the node will become a super node.

Once a node becomes a super node, both the node and the users staked in the node will gain more benefits. Therefore, under this mechanism, the community nodes will compete with each other, and the competition will prevent the early profitable users from “lying flat”.

As far as BIB Meta is concerned, Web3 is an exploration and attempt, and its ecological model can be recycled and compete with each other, which makes the current application balanced.

With the arrival of FIFA World Cup Qatar 2022, and the deepening of market cooperation with stars and traditional Web2, the performance of BIB Meta may be worthy of attention.

Hashtag: #BIBMeta

Restaurant Pulled up by Authorities for Ad Featuring Women in Bikinis

A restaurant in Vientiane Capital has been reprimanded by authorities for an advertisement featuring women in bikinis posing at a waterfall on its premises.

Laos and Russia Consider Launching Direct Flights to Promote Tourism

Deputy Minister of Information, Culture and Tourism, Mr. Ounthuang Khaophanh (right), in conversation with the head of the Russian Federal Tourism Agency Mr. Radkov Alexander Vasilyevich (left) Photo credit: https://kpl.gov.la/

Laos and Russia are in talks about launching direct flights, hoping to bolster tourism between the two countries.

Laos Celebrates International Day Of The Girl Child

Group Photo at the event.

On the 10th anniversary of the International Day of the Girl Child (IDGC), the Lao Women’s Union and the United Nations Population Fund (UNFPA), in collaboration with Plan International and partners, celebrated all adolescents in Laos with Noi’s 16th birthday in Vientiane Capital.