Last week, the FGRT Fung Global Retail Tech team was in Shanghai to attend the grand launch of Explorium 2.0.
- Explorium 2.0 is the Fung Group’s experimental platform in Shanghai dedicated to creating a smart supply-chain system, with the vision to strengthen China’s global economic competitiveness.
- Building on the learnings from Explorium 1.0, and in alignment with the Fung Group’s strategic vision to build the supply chain of the future, the Explorium 2.0 ecosystem will be creating more business value with the help of a global supply chain and retail reach.
- Explorium 2.0 will also be a platform empowering innovative startups that aim to boost national and even global supply-chain services. It has a strong focus on collaborative innovation with various partnerships, including Microsoft Accelerator, TechNode and the Beijing Institute of Fashion Technology.
For details of the new space features, readers may refer to our report on the Explorium 2.0 soft launch.
Dr. Victor K. Fung, Group Chairman of the Fung Group, delivered the opening speech at the Explorium 2.0 Grand Launch ceremony. “New retail, utilizing emerging technologies such as big data and artificial intelligence (AI), is transforming the way a product is designed and sold. China is one of the most challenging markets in the world, and Shanghai is a city with the most advanced mobile technologies and technology-sensitive consumers.” Dr. Fung went on to say, “We summarized the successful experience from Explorium 1.0 and launched today’s 2.0 version. The Explorium 2.0 ecosystem will be creating more business value with the help of the global supply chain. It is also a platform empowering innovative startups that aim to boost national and even global supply-chain services.”
Ka-Mun Chang, Managing Director of Li & Fung Development (China) Limited and Fung Business Intelligence Centre, also delivered a speech. As a global operator and service network provider, he believes that the Fung Group will improve how China connects with the rest of the world and ultimately establish a new trading ecosystem with an advanced supply-chain benefit-affiliating mechanism.
Professor Hau L Lee, Co-Director of the Value Chain Innovation Initiative, Stanford University, and Chairman of the Board of Fung Academy, then spoke on the innovation development of global resources, and introduced the role Explorium 2.0 will play in improving resource allocation and accelerating innovation conversion.
Susanna Chiu, Director of Explorium, and Group Chief Representative for Eastern China of Li & Fung Development (China) Limited, then introduced the blueprint for the project. Explorium 2.0 will combine emerging technologies with innovative business models, empower R&D and provide the most advanced supply-chain solutions to enterprises.
The ceremony continued with an MOU-signing ceremony with Softbank Capital, ZhenFung, Gobi VC, Yunqi VC, Microsoft Accelerator Shanghai, Plug and Play China, INNOSPACE+, Arm Accelerator, Gelab, Tezign and Explorium’s strategic partner TechNode.
The Explorium 2.0 grand opening ceremony was also attended by Shang Yuying, Director of the Shanghai Municipal Commission of Commerce, and Professor Michael Spence, recipient of the 2001 Nobel Memorial Prize in Economic Sciences. Professor Spence was invited to give a speech on global economic trends and the challenges emerging countries face.
Connecting the Fung Group with Start-ups in China
Gump Come develops and operates smart vending machines and smart mini-marts, based on AI innovation. It uses technologies such as integrated cameras, multi-touch functionalities and voice interaction.
Zhuiyi Technology is a startup that focuses on automated customer service based on natural language processing. Its chatbot platform, known as YiBot, has achieved recognition accuracy of 95%. Its clients include Didi Cuxing, Gome, Ofo and Xiaohongshu.
XianLife is a cross-border business-to-consumer (B2C) e-commerce start-up that focuses on high-quality imported food products. It has partnered with a number of food-delivery platforms including JD Daojia, Ele.me and Meituan to expand its delivery network.
Black Lake Technology is a start-up that focuses on providing cloud-based data collaboration, monitoring and analysis tools for manufacturing companies. The company strives to bring cutting-edge technology to the manufacturing sector, by providing use cases of technology for collaboration, information sharing and data analytics at a low cost.
Geek+ focuses on logistics and warehousing. The start-up applies advanced robotics and AI technologies to provide high-flexibility and intelligent automation solutions, including automated picking, moving and sorting systems.
Horen has developed a returnable transport packaging (RTP) platform (箱箱共用) that allows users to track the location and loading status of transport packaging, which helps to decrease loss and increase turnaround rates.