The Best of InnoVEX Taipei Day 1

SparkAmpLab Editorial Team
May 29, 2019

Today we're in InnoVEX Taipei, one of the largest startup-focused exhibitions in Taipei, Taiwan. This year, 467 startups from 25 countries and regions are participating in the 3-day event, with focus in 7 major industries: AI, Biotech, Blockchain, IoT Application, Smart Machinery, Sports Tech, and Startup Ecosystem. The event presents vibrant startup scenes including exhibitions, forums, pitch contests and more. Here are some interesting highlights from our first day at InnoVEX. (Read more: InnoVEX 2019 On-Demand Press Conference)

Taiwan Tech Arena Presents 79 Tech Startups

One of the first pavilions that caught our attention was the Taiwan Tech Arena (TTA), one of the biggest in size in the exhibition, presenting 79 startups that in "Smart Healthcare", "Living Future" and more. Through the support and resource by TTA, the total valuation of startups is over 100 million, thus a special highlighted area within the pavilion "100 million club".

One of the 100 million club startup Hipposcreen NeuroTech, a Taiwan-based startup, is dedicated to developing a Stress EGG Assessment (SEA) system that provides an objective indicator of mental health to assist the diagnosis. Currently, doctors rely mostly on using clinical scales during physical appointments. What Hipposcreen could soon provide is faster diagnosis with better accuracy. With partners like Harvard Medical School and National Taiwan University Hospital continually providing valuable EGG datasets, Hipposcreen is targeting early 2021 for the official launch of their first SEA product.

Ministry official Chiu Chiu-hui (邱求慧) introducing startup highlights

The Change is Here for the Sports Industry

"Slow sports need an innovation push", says Zvika Popper, Vice President of Strategy at HYPE Sports Innovation, the largest global sports innovation accelerator network. According to a global sports innovation survey, the top 3 answers of the question "Which sports are likely to suffer from a lack of innovation?" was baseball, golf and tennis. These are "slow sports" that require a lot of time and patience for each game. A golf game takes forever... who has time for that anymore?

And that is where technology comes in. In this intriguing keynote session addresses the challenges the sports industry is facing today and 3 main forces in the modern world that is driving the innovation in the industry - short attention span, the advancement in technology, and the rise of social media. The younger generation are demanding and shifting towards a faster, smarter sports experience. For example, Courvision lets basketball fans watch live games with real-time shooting statistics or choose from multiple angle from across the arena on both mobile and desktop devices. Zwift is another innovative esports company that makes serious bike training sessions fun. Train at home with interactive virtual roads, social group rides and structured workouts.

With innovative e-sport startups joining the game, we can expect a lively future in the sports industry. Hopefully, soon.

East Meets West - Holland Pavilion Pitch Competition

We also came across an exciting startup pitch event at the Holland Pavilion.

A total of 12 startups, 6 from Taiwan and 6 from the Netherlands, were competing. One winning team from each country will be awarded with a plane ticket to and from their home country to the other, and will be able to participate in a bootcamp program.

Incooling from Eindhoven, Netherlands and Orderly from Taiwan won the prize with their 2-minute pitches. Incooling is a startup focusing on in-chip cooling systems that can effectively solve the thermal problems that arise from the higher power densities in 3D Integrated CPU’s and GPU’s. Orderly is a startup offering data management solution to help businesses effectively manage their customer data.

Winners Incooling (left) and Orderly (right)

Other interesting startups that participated include

Aito - Aito offers haptic touch products that enables super-thin laptops and will further improve the ease-of-use and productivity of laptop users.

MedKit VR - MedKit VR brings immersive experiences into hospitals.

OurHub - OurHub is an eCommerce platform that connects social influencers, businesses and consumers.

Toii -Toii is a startup that gamifies the travel experience with AR and VR technology.

Team of MedKit VR

Polish National Pavilion

This year, the newly opened Polish Investment and Trade Agency (PAIH) in Taiwan brings to us three innovative startups and an accelerator, showcasing diverse VR/AR, biotechnology, and software solutions presented by Spectral Applications, NOMI Biotech, Software Hut, and one of the biggest accelerators in Central and Eastern Europe: Enterprise Forum.

Speaking to SparkAmpLab, Michalina Jendrzej, the Taipei Bureau Chief of PAIH, sees InnoVEX as a great platform providing possibilities for Polish startups to present their strong suit- many of which are software solutions- to the well-developed hardware industry in Taiwan. But there is one that may actually be for anybody.

Michalina Jendrzej, the Taipei Bureau Chief of PAIH

NOMI Biotech, a Polish-Japanese startup founded in 2018, focuses on creative "hangover prevention” solution by offering you a functional beverage that is in accordance with GMP standards prior to your night of drinking. Alcorythm, NOMI’s first product, deals with the side effects of drinking alcohol by preventing the toxins from building up in your blood. Finally, you don’t need to worry about waking up the next day and having annoying headaches and nausea.

Alcorythm has already been distributed in Poland, Germany, Denmark and more European countries, and NOMI is planning to enter the UK’s market next month. Hopefully, it will also set up offices in Taiwan and Japan by the end of the year. NOMI is targeting Asian markets for a reason. Its second product that is currently undergoing clinical trials could be a game changer for the alcoholic beverages market, especially in Asia. The formula is designed to solve the Asian flush, an alcohol flush reaction causing people (mostly Asians) who suffer from it to experience a red face from alcohol.

The Alcorythm drink that tastes like mango juice, NOMI Biotech CEO Marcin Jaskuta

So where can you find Alcorythm? At bars, clubs and hotels, and probably next at every convenience store and supermarket chain, says NOMI Biotech CEO Marcin Jaskuta. "Wherever there is alcohol, we want to be next to them!”

Stay with us tomorrow for more exciting startup highlights from InnoVEX!

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