The co-organizer of InnoVEX, Taipei Computer Association (TCA) announced that InnoVEX will be conducted online to comply with government regulations implemented as a response to the COVID-19 pandemic. Titled InnoVEX ONLINE, InnoVEX 2021 has already attracted hundreds of international startup teams who have completed their registration for the online exhibition and matchmaking. The InnoVEX Online Pitch Contest will also be held in an online format and the registration will be open until June 3rd.
As of time of writing, the startups that have joined include teams from: Taiwan, Israel, USA, Brazil, the Philippines, and more. A deeper analysis of the teams revealed that the main topics of InnoVEX Online are innovative applications in AI, Healthcare, XR, Cyber Security, and IoT. This proves that InnoVEX remains one of Asia’s leading startup exhibitions and has continued to attract startups from around the world with its diverse lineup.
InnoVEX Online 2021 to Feature Innovative Applications in AI, Healthcare, XR, Cyber Security, and IoT
TCA states that the analysis of the 2021 InnoVEX ONLINE registration revealed five popular industries, such as AI, Healthcare, XR, Cyber Security and IoT. This also indicated that the trend of a digital society, innovative services and technologies such as AI provided by startups is the main development. AI has a scalable characteristic and due to limited manpower and resources, matured corporations are inclined to work with AI startups to innovate vertical applications and expand new business opportunities.
A recent report by the International Data Corporation (IDC) pointed out that "worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, are forecast to grow 16.4% year over year in 2021 to $327.5 billion". This development is expected to continue until 2024 when the AI market is expected to grow beyond USD 500 billion with a 5 year compound annual growth rate (CAGR) of 17.5% and total revenues reaching approximately USD 554.3 billion.
International Startups to Join the InnoVEX Online Pitch Contest; Registration to Close on June 3
TCA stated that this year's InnoVEX Pitch Contest will be held in an online format with registration deadline on June 3. The Pitch Contest has been joined consistently by well known VCs and accelerators as judges and potential investors. This year, there will be a diverse lineup of participating VCs and accelerators which includes: Plug and Play, Mountain Pacific Venture, Techstars, Trans-Pacific Technology Fund (TPTF), and more.
At of time of writing, the participating international startups include teams from Taiwan, Israel, the United States, Brazil, and the Philippines. The pitching teams focus on 5G, Healthcare, Fintech; as well as other different industries that aim to solve the needs of a country’s digital social services. By joining the InnoVEX Pitch Contest, the startups will be able to attract more VC and corporate investments to rapidly expand their businesses in both scope and market reach.