How a Hong Kong startup gets caught up in US-China trade war

TechCrunch | 7/17/2019 | Staff
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Taylor Host has been operating his artificial intelligence startup out of Hong Kong for more than two years. The American entrepreneur has clients from Europe, North America and Asia, but he settled in the city for its adjacency to Southeast Asia and mainland China’s massive market.

Miro, which Host co-founded in 2017 with a British software engineer, had bootstrapped to six employees before raising a small note investment. Backed by Silicon Valley-based SOSV, it’s now seeking $2 million in a new funding round. As trade tensions between China and the U.S. drag on, the company is considering relocating for the first time because being a Hong Kong entity starts to turn off western investors.

Miro - Computer - Vision - Images - Videos

Miro uses computer vision to tag images and videos of runners for the brands they wear. It then attributes that data — sporting goods purchases — to consumers profiles that are part of its clients’ customer relations management (CRM) system. Miro’s AI processes data in markets around the world, but China data, in particular, is desirable for western sports brands.

The Chinese rising middle-class has been fueling a marathon fever in recent years as they search for a healthier lifestyle. When they participate in a race, Miro’s sensors could be tracking their shoes and outfits for event organizers and sponsors. The technology has so far been used in nearly 500 events around the world and analyzed more than 10 million athletes — while most of the technical development has been conducted in Hong Kong.

Co-founder - Amount - Time - Hong - Kong

“My co-founder and I both spent a considerable amount of time in Hong Kong. The majority of our team would call themselves Hong Kong Chinese, so we have a very strong foothold in Hong Kong and we love it here,” Host told TechCrunch over a phone interview.

“Lately though, it’s become very difficult to rationalize keeping the...
(Excerpt) Read more at: TechCrunch
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