Catching fire

• Three Australian space companies, including 500-backed rocket startup Gilmour Space, unite to launch a bushfire detection satellite into orbit.

• The startup’s Eris rocket will send the largest payload by an Australian company into orbit, carrying a fire detection satellite. The satellite provides automated bushfire detection and tracking.
• The satellite can detect a bushfire within minutes by analyzing images from satellites and sensors in real-time, and sends notifications and maps to emergency responders when it does detect a fire.
• A report by the Australian National University last year found that the detection of bushfires within 30 minutes could lead to a total benefit of ~US$6.4 billion.

Plotting a new course

• 500-backed edtech startup NewCampus announced it is acquiring a university license this year, starting with accrediting its learning tracks to the equivalent of a Master’s degree.

• NewCampus’ learning tracks consist of six series of workshops that address skills linked to effective leadership, such as critical thinking and creativity, communication, and adaptability.
• The startup also announced it will roll out a full alternative MBA program in the next 18 months.

Thriving in tech

• 500-backed super app Grab has signed a Memorandum of Intent (MOI) with the Infocomm Media Development Authority (IMDA) and Digital Industry Singapore (DISG) to support the development of Singapore’s tech ecosystem.

• Grab will work with IMDA and DISG to grow its core product and engineering teams’ capabilities through the support of talent development programmes.
• To support its growth plans, the startup expects to create around 350 new jobs in Singapore this year. These include the expansion of products and services to support the digitalisation of micro SMEs, the delivery of digital financial services across Southeast Asia, and the development of the upcoming digibank which a Grab-Singtel consortium will manage.
• “Despite the challenges brought forth by COVID-19, the tech industry continues to hold promise for new and renewed opportunities for talent. Grab will work closely with IMDA and DISG to grow the talent pool in Singapore as the country advances towards a future-ready digital economy,” said Tan Hooi-Ling, co-founder of Grab.

Missed out the last Daily Markup? Go here to check it out.

You can also find us on LinkedIn, Facebook, Twitter, and Instagram.

500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.