[InnoVEX FORUM 2022] New Opportunities for Startups – Emerging Industries & Transformed Markets

 2022-09-08 By: InnoVEX Team

Innovation today is both a result and a resource as proceeding technologies will rely on existing ones or be developed from them. Corporations today are more interested in startups as a source of innovation and developments and in return will invest or provide resources for the startups. Through collaboration, investment, partnership, or even acquisition of startups; a corporation might be able to incorporate new innovations and momentum to accelerate digital transformation.

The D talk+ Unlocking Innovation Through Startup Engagement forum discusses how corporate - startup cooperation can be the key to develop a more creative and lucrative ecosystem. The forum featured keynote speeches by:

  • Dr. Jason Ma, Engineering Director of Google Taiwan;
  • Ryosuke Furihata, Vice President of Mizuho Bank;
  • Su-Wei Chang, President of TMY Technology
  • As well as pitches by 10 startups from various backgrounds and industries.

    Future Trends Rely on 4 Main Techs

    Google today is one of the largest tech companies and controls or owns a large proportion of people’s digital lives. Dr. Jason Ma, Engineering Director of Google Taiwan focused his keynote speech on the new capabilities and trends facilitated or made possible by AI, AIoT, 5G/6G, and cloud computing. As people today have at least one smart device such as smartphones, tablets, or PCs on their person at all times; AI enabled apps, platforms, or devices can offer significant changes to everyday lives. AI can provide users with more convenience and capabilities that were previously impossible.

    New emerging trends also rely on the 4 technologies and have recently grown significantly due to global trends or external factors. Among these external factors, COVID-19 and higher interest in sustainability and ESG are among the most significant as they require changes in lifestyle as well as work, recreation, etc. Digital transformation trends including smart/ autonomous & electric vehicles, smart manufacturing, contactless economy, telemedicine, remote study & work, online & interactive fitness classes, and hybrid shopping all rely on the 4 technologies.

    Ecosystem Changes Brings New Opportunities

    Japan’s startup ecosystem has grown rapidly in recent years as digitization efforts supported by the government have also encouraged businesses of all sizes to innovate, especially in digital transformation. Mr. Ryosuke Furihata, Vice President of Mizuho Bank shared his insights on what makes Japan today as one of the footholds for international development. Currently many new domains exist as a result of a combination between emerging and existing technologies which will move the world to a more digital society. This affects not just startups, but also corporations that will have to cooperate or compete with the startups. Traditionally, large corporations prefer to develop their own solutions and innovation in-house, but the solutions developed by startups have encouraged corporations to be more open and to invest in startups through their CVC arms.

    It is undeniable that different startup ecosystems will have different funding sources and different strategies. For example, 70% of Japanese startups exit through IPOs and 30% through M&A. On the other hand, 10% of US startups will exit through IPO while 90% will go through M&A. This clear difference in exit strategies will also encourage startups as well as their investors to pursue different industries, strategies, and investments, as well as focus on different aspects of their businesses. However, this does not mean startups in the same ecosystem need to pursue the same goals or focus on the same industries. The momentum and power of startups are real and there is a need to constantly create innovations and promote initiatives that facilitate innovation more than ever.

    Challenges and Opportunities of mmWave

    Commonly associated with 5G, mmWave technology can be the frequency needed for future communication networks. Su-Wei Chang, the President of TMY Technology shared his insights on the keys and challenges of mmWave in 5G and Satellite Communications. As more devices will be connected in the future, existing connectivity networks will no longer be enough to handle the massive data generated and transmitted by connected devices. Regardless of whether the network in question is 5G, low earth orbit (LEO) satellites, or even newer connections that are not yet developed; mmWave will be necessary to facilitate fast network speed, high bandwidth, and mass connectivity.

    However, this does not mean mmWave is a perfect network as its coverage is relatively low and the loss rate can be quite high. The most common solution for this disadvantage is by installing more base stations in its areas of operation. However, this solution will require more energy and cost that might not always be the optimal solution. Currently the main bottleneck of mmWave network is the need to upgrade existing systems or instruments to be mmWave compatible as users might have no choice but to scrap their existing hardware and invest in new devices.

    Startup Pitches

    The forum also included pitches by 10 startups from various industries. The 10 startups are:

  • PowerArena is an AI startup focusing on Industry 4.0. Their solution aims to solve 3 main challenges: line balancing, downtime analysis, and SOP assistance through their AI solutions. In addition, PowerArena also offers a Build Your Own AI (BYOAI) tool to help startups or companies to build their own AI model from data collection phase, all the way to annotation, training, and inference.
  • Wishing Softwareprovides an intelligent cloud based ESH management platform to help companies improve their ESH management processes. Their solution fits all industries and allows users to customize their own workload & create personalized databases. By bringing data to insight, users can gather the best practices to create a standardized compliance-risk process that meets ISO CSR ESG regulations and standards.
  • AccuHit is a marketing tech startup that collects data across multiple channels and integrates them to come up with effective new strategies and marketing models to maintain users’ competitiveness. AccuHit provides an omni-channel customer data platform to quickly build chatbots and accomplish online O2O scenarios through multiple modules. Users can also custom build a marketing campaign and combine existing sales systems or CRM for better performance.
  • Neurobit provides an AI medical system to detect strokes and other neurological disorders. Their solution - NeuroSpeed System collects different data and signals that are uploaded for AI processing to generate a high speed & high quality video of the patients’ testing for further analysis as well as risk analysis reports. The system is easy to use with an on-system usage guide and offers great portability & accessibility.
  • EZ-AI uses AI algorithms to facilitate language learning. By leveraging AI voice recognition, Natural Language Processing (NLP), and API SaaS; EZ-AI can solve problems faced by foreign language learners and teachers. Their solution combines algorithm engine modularization, self-developed speech recognition, and natural language algorithms to provide the best results for users.
  • Singularity&Infinity offers a cloud-based delivery optimization service in logistics and transportation. Their optimization engine, A.I.R helps customers arrange their delivery plans and solve the pain points caused by the rise in global usage of e-commerce, labor shortage, global supply chain issues, and more. For SMEs that do not have IT expertise, A.I.R can also reduce inefficiency and increase their fleet capacity.
  • DeepMentor is a green edge AI total solution provider. Their patented miniaturization technology can reduce the complexity of an algorithm by up to 90% while reducing the accuracy of said model by less than 1%. DeepMentor provides Edge AI hardware + software total solutions that can help users save time and cost for AI construction through no code AI SaaS, edge computing hardwares, and soft code AI IP.
  • MoldIntel is a smart manufacturing solution provider for the injection molding industry. Their cloud-based manufacturing service offers virtual machine operators for a one-click parameter calibration, data driven virtual inspection, and the only service that provides cross-brand machine control. Users will not need to do any machine changes or updates to enjoy the improved utilization and yield from MoldIntel’s solution.
  • AIWin is an AI solution provider that aims to be a partner for SMEs who are facing digital transformation to introduce and implement AI in their business. They built a no-code platform that integrated MLOps with a web based interface that will provide users an end-to-end solution. AIWin’s latest product is WinHub.AI; an AI SaaS Solutions Platform.
  • dentall aims to provide a total solution for dental clinics and dentists including through CRM, LAb, HIS, IM, and e-learning modules. Their new product: dentallHiS provides functions including digital dental history, treatment plan, and clinic management systems to help improve customer retention rate in clinics. They have also started developing AI applications for dentistry to provide computer aided diagnosis systems.

  • Watch the forum video here.

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