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When listicles titled “11 sinking cities around the world” or “5 cities that will be drowned” start popping up more frequently on social media and news portals, something isn’t right. The world is sinking, and our maps are likely to be redrawn by global warming in the not-so-distant future. This is an unavoidable reality that puts millions of lives at risk.
The usual suspects of rapid urbanization, rising sea levels, and land subsidence have all contributed to this climate crisis. It has already left a marked impact on one of the largest Southeast Asian markets: Jakarta, the capital of Indonesia and home to more than 10 million people, has the unfortunate label of “the fastest sinking city in the world.”
Almost half of Jakarta sits below sea level, and some researchers believe that if the capital’s issues related to rising sea levels continue to go unchecked, parts of the city will be entirely submerged by 2050. Jakarta’s problem is so dire that the Indonesian government passed a bill to move its capital from Jakarta to East Kalimantan on Borneo island.
The unprecedented move is one of the first capital relocations to be driven by environmental forces and it is unlikely to be the last, as Tokyo, Ho Chi Minh City and Bangkok all stare at a similar threat.
Startups and governments are taking note of this problem and are now scampering to find viable solutions. In our premium story pick today, we analyze the feasibility, potential, and challenges that face a startup pitching floating houses and infrastructure as the answer to a global conundrum.
Today we look at:
- FlexBase’s solution for a global crisis
- An AI-driven proptech platform’s US$35 million funding round
- Other newsy highlights such as Axie’s US$4 billion milestone, and the largest VC fund founded by Vietnamese investors
Also, if you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.
Premium summary
Riding the rising tide
Image credit: Timmy Loen
“Why not just build on top of the water?” Shiwen Yap, co-founder of FlexBase International, told Tech in Asia. This is FlexBase’s straightforward solution to the complex question of how to save the world’s coastal cities.
The Netherlands-based firm is bringing its expertise in constructing floating buildings to Southeast Asia. The company told Tech in Asia that it will start its expansion into the region by investing US$1 million to set up its international office in Singapore and plans to hire for five key functions locally. For now, FlexBase will focus on Thailand and Vietnam.
Props for proptech
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