Green Tech from Local Roots to Globally Approved
Behind the glamour of innovation, it all comes down to making a better way of living, and that “living” supposedly reaches beyond humankind. Coral reefs have been suffering from the destruction of the marine ecosystem with climate change, pollutants, and overharvesting. Archireef, which came along in 2020, is pioneering the restoration.
Founded in Hong Kong, Archireef introduced a new use for terracotta clay and made the world’s first 3D-printed Reef Tiles™ that gives a chance to hold off the damage and wins championship in the Elevator Pitch Competition (EPIC) 2021.
Last year alone, EPIC put over 600 entries of international innovators from 47 economies in one spot, as the largest tech event in Hong Kong, it’s destined for “growth” to soar from there.
Since then, widespread recognition has brought Archireef to the Middle Eastern coast, with backing from Abu Dhabi Developmental Holding Company (ADQ) secured, one of the largest sovereign wealth funds in the region, the partnership has not only meant capital but has also large-scale production of end-to-end eco-engineering solutions is able to steer the company towards global expansion in marine conservation and managing nature risks in the oceans.
That explains the growing client base of the nature-risk management company, local and international corporations including Swire Bulk, First Abu Dhabi Bank (FAB), AD Ports Group, Sino Group and Chow Sang Sang, all contributing to climate resilience and biodiversity recovery in mitigating long-term risks and costs.
Digital Health Tech Potential in Applying to be Physicians Assistants
Imagine a group of data scientists huddled over in Silicon Valley and come up with yet another adaptation of AI – pretty much how Leapstack was founded back in 2016. By leveraging AI and machine learning, its platform can be trained to analyze claimant data and provide personalized recommendations, insurers across countries are able to streamline claim processes and optimize policies.
“We aspired to become to go-to for health insurance players around the world.” Cole Gu, Co-founder and CEO of Leapstack says, fully aware of the obstacles where Insurtech is not a one-size-fit-all with risk scenarios, compliance and regulatory vary from country to country.
A eureka moment doesn’t guarantee success if it lacks investment opportunities or partnership support – exactly what EPIC offers, to put the misery to the often dire situation for startups to get their ideas off the ground.
“Once the match between startups and their support system hit it off, it’s all smooth sailing from there.” would be outright a dream too good to be true. Following Leapstack’s participation in EPIC 2023 all the way to the semifinals, they’ve continued evolving into a leading digital healthcare platform in Asia with a strong presence in Hong Kong, Vietnam, Indonesia, and its origin, Mainland China, going from mere coverage in Shanghai, to taking on nearly one-third of social medical insurance fund monitoring projects in the market, had them becoming a trusted service provider for claim management systems of top-tier international health insurers including Manulife and AIA in the Chinese society, leveraging cutting-edge AI to reshape the health insurance value chain and connect stakeholders.
That earned more than a ticket but an invitation from HKSTP to join its Elite programme, exclusive for those that show potential to head for global markets, the three-year milestone-based funding initiative consist of expert guidance, funding support, as well as comprehensive go-to-market strategies for more, according to Gu, “a presence in the Hong Kong market itself is a defining moment for us. We’re drawn to Hong Kong’s sound regulatory environment and strong global reputation in the insurance and reinsurance markets. Use cases that can be easier in adapting to other emerging markets also helped making this rather easy call operating in Hong Kong.”
Not to mention that Hong Kong boasts the highest global insurance penetration rate and the second-highest insurance density, solidifying its position as an Insurtech innovation hub, despite its relatively small population of 7.5 million.
Leapstack also embarked on another rewarding international journey led by HKSTP, “In January, we participated in the ‘Think Business, Think Hong Kong’ event in Jakarta, Indonesia to explore opportunities across Asia, ” notes Gu on his observations, “Customers in emerging markets are increasingly aware of their health protection gaps and purchasing coverage as a result.” and prior to that, Leapstack joined the delegation visiting the UAE last year to meet with local technical partners, industry leaders and regulatory bodies, extending the experience of international support.
Epic Traction for Tech and Talent
These inspiring stories are part of the reason EPIC kept going and announced its 9th edition will be competing for an investment pool of 100 million and cash prize of $240,000 in three tech tracks – Digital Health Tech, Green Tech, FinTech. A global open call for innovators has just appeared on the radar, and finalists from all corners will be flown to cruise terminal in Hong Kong for the finale to unfold in November.
Not just any competition. essence of the event is to break something, of borders, of sectors, of limits – if past years were any indication, anticipation for outreaching overseas should only build from now on for EPIC 2025, open calling global registration until 17 June 2025, 23:59 (GMT +8) – it’s about time to make your own EPIC story, visit epic.hkstp.org to learn more.
Innovators emerging from stealth mode need to be seen.
