Defeating diseases
- A 3-year, multi-million dollar agreement between 500-backed digital health startup Prenetics, University of Oxford, and Oxford Suzhou Centre for Advanced Research (OSCAR) has been signed to further develop the OxLAMP™ technology, a rapid, molecular testing technology for infectious diseases.
- According to the announcement, the first OxLAMP™ product has been providing portable and accurate results for the detection of COVID-19 in about 20 minutes.
- According to representatives at Oxford University and OSCAR, the collaboration aims to decentralize laboratory testing with rapid, highly accurate, molecular testing for all infectious diseases.
- A new Prenetics Innovation Technology Centre (ITC) for Advanced Molecular Diagnostics has been established in Suzhou, China. A research program has also been initiated at the University of Oxford, UK.
- Read the full press release here.
Speedy delivery
- 500-backed global financial settlement network EMQ announced an enhancement to its cross-border payment capabilities with Hong Kong’s Faster Payment System (FPS).
- This enables global customers to cost-effectively send funds in Hong Kong Dollar (HKD) and Renminbi (RMB) in minutes.
- With this enhancement, EMQ is reaching a wider set of beneficiary accounts across all banks in Hong Kong. This feature is already live in Hong Kong.
- Read more on Business Wire here.
Trailblazing entrepreneurs
- The Forbes 30 Under 30 Asia 2021 list is out. From over 2,500 nominations, a panel of judges selected 300 millennials and Gen-Zs, including four 500-backed founders, for their determination, hard work, and innovation in the midst of a pandemic.
- Selected were:
- Wayne Goh, co-founder of Singapore-based Glife Technologies, a farm-to-table platform that connects farms directly to restaurants.
- Liris Maduningtyas, co-founder of Jala Tech, an agritech startup that developed a management system for shrimp farmers in Indonesia to boost production.
- Dylan Tan and Vishvesh Suriyanarayanan, co-founders of fintech startup Split, a buy-now-pay-later provider in Malaysia and Singapore.
- Get the full list on Forbes here.
Missed out the last Daily Markup? Go here to check it out.
You can also find us on LinkedIn, Facebook, Twitter, and Instagram.
500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.
This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.
