NTU Scientists Develop Rice Grain-Sized Robots
Scientists at Nanyang Technological University (NTU) have developed robots the size of a grain of rice that can perform complex manoeuvres, paving the way for their possible use in fields such as medicine, including brain surgery.
A research team at NTU created the miniature robots by embedding small magnetic particles into materials that are harmless to humans. The robots can be controlled remotely by an operator when magnetic fields are applied.
The demonstration showed that the robots are able to negotiate barriers easily, an ability that is highly desirable for applications such as surgical procedures for difficult-to-reach vital organs.
The scientists also tested a gripper robot that was able to assemble a 3D structure in less than five minutes. This is about 20 times faster than existing miniature robots, they said.
Indian Ultra High Net-Worth Individuals to Invest $30 Billion in Indian Tech Startups
India expects to add 95 new technology unicorns to its 56-strong unicorn pool by 2025, according to a newly launched report, ‘Turning Ideas to Gold,’ jointly prepared by 256 Network and Praxis Global Alliance. The report forecasts that Indian Ultra High Net-worth Individuals (UHNIs) are expected to invest up to $30 billion in tech startups in India by 2025, reiterating the growing investment opportunity for home-grown tech ventures.
The report also revealed that India is expected to have approximately 10K UHNIs, which will include business leaders, celebrities, NRIs, and digital entrepreneurs with a cumulative wealth of $700 billion by 2024. Family offices are being set up as full-service private wealth management services to cater to one, or a small clutch of these UHNIs. Currently, India has about 140+ family offices catering to Indian UHNIs and heavily investing in the Indian startup space. They have been pro-actively involved in 50+ such deals every year since 2015.
Standard Chartered Launches Softex Solution to Simplify Software Export Processes
Standard Chartered Bank has launched a digital Softex solution aimed at supporting clients in their software export processes that run through the bank’s digital platform Straight2Bank.
The aim of this newly launched Softex solution is to simplify the filing process for software exporters and simultaneously ensure regulatory compliance. The process begins with Software Technology Parks of India (STPI) filing and concludes with the Export Data Processing & Monitoring System (EDPMS) reconciliation with the Bank and collection of export proceeds thereby automating the end to end process and significantly reducing the manual touch points.
The solution has functionalities like creating files in the requisite formats, data upload and reconciliation tools, integration to the bank’s internal tool to provide an end-to-end digital package encompassing all stages of documentation and forex execution on inward remittances received.
