The job placements and vacancies for Info-Tech sectors are now unclear to the economy's eye.
An entrepreneur who made his fortune building a $14 billion tech company is setting up a life science venture capital fund. The Israel-focused fund will target maturing life science startups with a view to helping companies grow into the next Teva ($TEVA) rather than sell up or outlicense their programs.
As a response to China’s new anti-terror law, 25 tech companies in the country have signed a pledge to help the government combat online terror activities. Under the law, tech companies are required to decrypt information for Beijing and provide assistance to keep the internet from terror-related contents.
Ele.me secured a $1.25 billion investment from Alibaba and its finance business unit Ant Financial. China’s O2O business market are now booming as most Chinese consumers are using smartphones to do their daily activities.
European privacy watchdogs is now assessing the Privacy Shield framework that would regulate the EU-U.S. relations in privacy protection. It’s likely that the EU watchdogs will ask for another review to be conducted in 2018, when a new a new EU data protection law comes into force.
Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.
Palo Alto-based venture firm Accel has raised a new fund. The fund is targeting the next generation of entrepreneurs in Europe and Israel.
French tech startups managed to secure almost 1 billion euros in funding last year, establishing the country’s place in the European tech landscape. Most investments were still made by domestic investors, although there are prominent foreign investors involved in big fundings.
In the wake of Brussels attack, more European countries are considering making new policies that would legally require tech companies to hand over encrypted information when needed. That will affect tech companies around the world as Apple is pushing forward to fight back in the U.S. as well as in Europe.
Tech company 373K decided to move from Georgia due to religious freedom bill that would allow anti-gay discrimination. After reaching the decision to move through voting, the company is now in the process in moving to Delaware.
Sources believe that Apple is trying to enhance its security for iCloud amid the legal dispute with the FBI. However, the tech giant will have its challenges to ensure security while retaining users convenience. Reports also said that the company has moved some of its iCloud services to Google servers.
Australian tech companies are heading to Singapore to support their businesses. Some tech companies are expecting Singapore to be one of the startups landing pads established by the Australian government to help companies access the global business network.
UAE venture capital firm BECO Capital expects that the tech sector will spur amid the slowdown in the economy due to low oil prices. Especially in the region, the firm projects that tech startups will face a significant growth as the government seek to achieve diversification to non-oil sectors.
Facebook has just acquired a popular face-swapping app MSQRD by the company Masquerade. The acquisition comes after Facebook’s attempt to take over Snapchat, the instant messaging app with the similar feat. The details on the acquisition were not disclosed.
500 Startups is seeing a great potential in Vietnam, where more than half of its population are below the age of 30 and most adults are using smartphones. The Silicon Valley-based accelerator is preparing a $10 million investment fund dedicated for Vietnam startups.
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