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Alibaba and SenseTime-backed Hong Kong AI lab announces first batch of startups

SenseTime is the ’s first unicorn in a city that has proven a consistent ability to produce billion-dollar companies

-backed Hong Kong AI names first of start-ups for funding – SCMP

What happened: A Hong Kong artificial intelligence lab backed by Alibaba and SenseTime has picked seven that will receive funding under its accelerator program. The AI lab will provide each of the selected startups $100,000 in seed funding, office space, and the access to Alibaba and SenseTime’s resources and Alibaba Cloud’s cloud computing services. The Lab will officially launch this month.

Also Read: Meet the 18 original founders of Alibaba

Why it’s important: The Hong Kong AI Lab, established in May by e-commerce giant Alibaba and Hong Kong’s first unicorn SenseTime, is part of the Hong Kong government’s efforts to boost innovation in areas including AI, biotech and fintech. In partnership with the Hong Kong Science and Technology Parks Corporation, the Lab launched a six-month accelerator program aiming to foster more AI startups in Hong Kong.

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The article Briefing: Alibaba and SenseTime-backed Hong Kong AI lab first batch of startups to receive funding first appeared on TechNode.

Photo by Banter Snaps on Unsplash

The post Briefing: Alibaba and SenseTime-backed Hong Kong AI lab announces first batch of startups to receive funding appeared first on Tech News.

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