NOTEWORTHY
Concerns are rising of a venture bubble in China tech, particularly in AI, where it seems no obstacle to raising money even those lacking a clear product and staff. Case in point is
Aibee Beijing Intelligent Technology, founded by a former Baidu exec, who just attracted $25 million-plus for his startup valued at more than $800 million, according to the
Financial Times. In on the deal were prominent investors
Sequoia and
General Atlantic as well as strategic investors
Baidu, Alibaba and
Tencent.
A new biennial report just out by the National Science Foundation and the National Science Board concludes that China has become or is on the verge of becoming a scientific and technical power. The report notes that China has emerged as the world's second-largest R&D spender, at 21% of the total with the U.S. at 26%. It also finds that China is catching up in fundamental research and a technical workforce. Read
Opinion, The Washington Post
.
The U.S. has fallen out of the top 10 innovative countries identified in a
Bloomberg Index based on seven factors. South Korea, Sweden and Singapore top the list. The U.S. slipped to 11 while China moved up two spots to 19th.
FEATURED VIDEO
Silicon Dragon Valley 2018:
Blockchain Founders Go At It!
Blockchain founders
Richard Ma, Quantstamp Technologies; Jim Bai, EverMarkets; Kingsley Edwards, Unikrn; Xiaohong Lin, Bodhi Predictions with moderator
See more Silicon Dragon videos.
Shuonan Chen, Agile VC at Silicon Dragon Valley 2018.
See more Silicon Dragon videos.