HONG KONG, May 12, 2026 /PRNewswire/ — Avnet (NASDAQ: AVT), a leading global technology distributor and solutions provider, in collaboration with Hong Kong Science and Technology Parks Corporation (HKSTP)  and the Emerging Microelectronics and Ubiquitous Systems Laboratory (EMUS Lab), today announced the launch of the 12-month DfMA Launchpad for AI MMP Programme (Design for Manufacturing and Assembly Launchpad for AI Minimum Marketable Product). The programme is now open for applications from startups worldwide.

Positioned as a co-incubation programme, the initiative is designed to support both local and international startups in accelerating the commercialisation of AI innovations, with a focus on Edge AI, Physical AI, and high-performance computing (HPC), while exposing startups to global market access and supply chain integration. Leveraging Hong Kong as a strategic gateway to Greater Bay Area, the programme provides participating startups with global market exposure, direct access to experienced industry partners and supply chains.

By combining Avnet’s global technology expertise and supply chain capabilities, EMUS Lab’s advanced research infrastructure, co-established by Avnet and the University of Hong Kong (HKU), and HKSTP’s established incubation ecosystem, the programme aims to connect startups with relevant industry, research, and manufacturing partners, with the goal of turning prototype products into market-ready solutions.

Arthur Chung, Vice President, Sales and Supplier Management, Asia at Avnet, said: “Our collaboration with HKSTP, HKU and EMUS Lab brings together global technology expertise, advanced research capabilities, and a strong innovation ecosystem. By supporting startups from development through to production, we aim to accelerate the journey from innovation to scalable, market-ready solutions across Hong Kong, the Greater Bay Area, and beyond.”

Derek Chim, Head of Startup Ecosystem & Development of HKSTP, said: “This partnership with Avnet and EMUS Lab, which is strategically located at the HKSTP Data Technology Hub, provides startups with access to critical infrastructure, technical expertise, and industry networks. It strengthens Hong Kong’s position as a leading global innovation hub while accelerating the commercialisation of next-generation AI hardware solutions through collaborative ecosystem building and market linkage.”

Focus Areas: Edge AI, Physical AI and High-Performance Computing

The programme targets three critical technology domains that underpin next-generation AI hardware deployment:

Edge AI: Enabling real-time intelligence at the device level across applications such as smart cities, industrial automation, retail, and healthcarePhysical AI: Powering robotics, autonomous systems, and intelligent machines through the integration of software and physical environmentsHigh-performance computing (HPC): Supporting AI model training, simulation, and large-scale data processing with advanced compute infrastructure

Startup Support: Funding, Technical Expertise and Global Market Access

Selected startups will receive comprehensive support designed to accelerate product development and go-to-market readiness, including:

Potential funding of up to HKD 100,000 (subject to HKSTP Ideation Programme terms)Access to EMUS Lab and Hong Kong Science Park facilitiesOne-on-one technical mentorship from Avnet engineers and HKU expertsSupport in AI model optimisation, hardware–software co-design, and system validationAccess to Avnet’s global ecosystem of OEMs, enterprise customers, and investorsAccess to co-creation opportunities offered through HKSTP’s extensive co-development partner network

EMUS Lab: Advancing AI Research and Talent Development

Since its establishment, EMUS Lab has demonstrated measurable impact in advancing AI research and talent development. The lab’s research, powered by Avnet-sponsored GPU infrastructure, has resulted in top-tier publications in Nature family journals and elite conference presentations at ICLR and ICML. Furthermore, the lab has engaged more than 260 students through STEM initiatives, contributing to the growth of Hong Kong’s innovation talent pool.

These achievements demonstrate EMUS Lab’s ability to translate advanced research into real-world AI innovation and startup outcomes. The upcoming grand opening will further showcase how this four-pillar collaboration model translates research into innovation, talent development, and startup creation.

Eligibility and Application

Applications for the DfMA Launchpad for AI MMP Programme will open on 1 May 2026 and close on 29 May 2026. Eligible applicants should have a functional prototype or early-stage product aligned with Edge AI, Physical AI, or HPC, and demonstrate readiness to enter or expand into the Hong Kong market. Shortlisted applicants will be invited to interviews scheduled for 2–3 July 2026, which may be conducted either online or on site. The interview panel will comprise two representatives from Avnet or Avnet’s partners, together with two representatives from HKSTP. Final results will be announced on 13 July 2026.

Overseas startups selected for the programme will be required to establish a Hong Kong entity to ensure local ecosystem participation and impact.

For full programme details and application guidelines, visit: https://www.avnet.com/apac/resources/hkstp-co-incubation-program/ 

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for more than a century. Through regional and specialised businesses around the world, we support customers and suppliers at every stage of the product lifecycle. We help companies adapt to change and accelerate the design and supply stages of product development. With a unique viewpoint from the center of the technology supply chain, Avnet is a trusted partner that solves complex design and supply chain issues so customers can realize revenue faster. Learn more about Avnet at www.avnet.com.

About Hong Kong Science and Technology Parks Corporation

Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 13 unicorns, more than 17,000 research professionals and over 2,500 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc.

Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined.

Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more.

Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues to contribute in establishing I&T as a pillar of growth for Hong Kong.

More information about HKSTP is available at www.hkstp.org.

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SOURCE Avnet

Built on Lending, Not on Users. Powered by the Strongest Unit Economics in Philippine Banking.

MANILA, Philippines and SINGAPORE, May 12, 2026 /PRNewswire/ — Tonik, the holder of BSP Digital Banking License No. 001 and the Philippines’ first standalone digital bank, has reached a defining milestone: sustained profitability. The company generated consolidated positive cash net income (after all costs including cost of risk) in Q1 2026, becoming the first standalone digital bank in the country to do so—and one of the fastest non-ecosystem neobanks globally to reach this point.  At the same time, Tonik’s regulated bank subsidiary, Tonik Digital Bank, Inc. has also achieved IFRS profitability for the entire Q1 2026.

This milestone is the direct outcome of a founding choice: to build a credit-led institution, not a user platform.

A Model Built for Lending, Not Optics

While much of the narrative around the Philippine digital banking market has been defined by user growth, deposits, and payment volumes, Tonik was designed from day one as a lending institution—focused on deploying capital efficiently into consumer credit for the 90% of Filipinos unserved by formal bank lenders.  This strategic choice was driven by a simple logic – revenue on a loan client is 20x higher than on a payment client, and credit inclusion is clearly where the remaining gap in the market is, not payment inclusion.

Five years in, that discipline is now showing up in the only metrics that matter: profitability and capital efficiency.

The Numbers That Matter

As of April 2026:

Loan portfolio: USD 110 million, up 2.3× year-on-year, growth leaderAnnualized revenue run-rate: USD 60M+, with 99% from lendingNIM / Lending RAROC: 51% / 25% — the highest in the banking marketLoan-to-deposit ratio: 82% — the highest among Philippine digital banksNet LTV/CAC: 23× — validating a scaled upsell flywheel engine

These metrics reflect a business built on lending productivity—not user accumulation or idle deposits.

Why the Model Matters

Tonik is the first digital bank in the Philippines to reach profitability without relying on a pre-existing bank, payments, telco, or retail ecosystem. While ecosystem-backed models can accelerate early growth, they often cap long-term scalability—as proven by the fact that most of the world’s largest digital banks were built as standalone, balance-sheet-driven institutions.

What Drove Profitability

Three structural decisions underpin this outcome:

AI-driven risk management. Five years of advanced data and underwriting iteration have enabled profitable lending to thin-file borrowers, improving risk-adjusted returns while sustaining growth.

Portfolio mix diversification. Lending is diversified across employer-channel salary-deduction loans, merchant installment network, and digital personal loans.  These channels provide structural risk mitigation supporting de-risked unit economics. 

Deposit advantage. A BSP license enables retail funding at 3–6%, versus 15%+ for non-bank lenders—creating a structural margin edge on every loan.

CEO Comment

Greg Krasnov, Founder & CEO of Tonik Digital Bank:

“Profitability in digital banking is a function of what you choose not to do. We chose not to chase users as a vanity metric. We chose not to build deposits we couldn’t deploy. We built a credit bank—with the best unit economics in the market—and let the income statement follow.

We are now the only player that is both cleanly profitable and structurally positioned with a digital bank deposit license to scale into the $50-100 billion credit gap. That makes us the growth leader today.  That is a rare combination, and we intend to press it.”

What Comes Next

Tonik enters its next phase as a loan portfolio growth leader among Philippine digital banks, with a model that no longer requires external subsidy to grow. Near-term priorities include expanding employer-channel lending through Tendo, scaling the merchant network, and enhancing revolving credit products to serve a repeat borrower base with an accelerating lifetime customer value flywheel.

About Tonik Digital Bank

Tonik Digital Bank, Inc. holds BSP Digital Banking License No. 001—the first standalone digital banking license issued in the Philippines. It provides personal loans, store installment financing, employer-channel lending, and savings products through a fully digital platform.

Since launch in February 2021, Tonik has grown its loan portfolio to USD 110 million and its revenue run-rate to USD 60M+, reaching cash flow profitability in Q1 2026.  For more information visit tonikbank.com

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SOURCE TONIK Financial Pte Ltd

CHIANG MAI, Thailand, May 12, 2026 /PRNewswire/ — WePlay launched a charity event focused on animal welfare and ecological protection at the Elephant Nature Park in Chiang Mai, Thailand on April 24. Centered around elephant rescue and daily care, WePlay expressed its support for the park’s long-standing rescue efforts through material supplies, charitable donations, and on-site interactions. This initiative also conveys the brand’s commitment to life care and sustainable philanthropy through practical actions.

Donating Funds and Supplies to Support Elephant Care

As part of this initiative, WePlay provided THB 20,000 in charitable funding to Elephant Nature Park to support the daily care and rescue of elephants. In addition, WePlay donated essential supplies such as feed and fruit. Including both cash and in-kind contributions, the total value of support for this initiative was approximately THB 50,000.

Extending Brand Responsibility from Online Entertainment to Real-World Public Welfare

As a social entertainment platform serving young users around the world, WePlay has always believed that connecting people is only one part of its platform value. Connecting kindness with action matters just as much. This visit to Elephant Nature Park was not only an act of care for animals, but also a reflection of WePlay’s long-term commitment to social issues and to exploring meaningful ways of engaging in public welfare.

At a time when digital entertainment has become increasingly integrated into everyday life, the role of platforms is being redefined. WePlay hopes that, in addition to bringing users joy, interaction, and companionship, it can also turn the warmth of online entertainment into real-world acts of kindness through more tangible public welfare efforts.

About WePlay

WePlay is a next-generation global social entertainment platform under WEJOY PTE. LTD., headquartered in Singapore. The platform integrates games, voice interaction, and party-based entertainment experiences, with a mission to “Bring people together through games, lead the trend of global online social entertainment.”

Platform Achievements:

Over 800 million global downloads, with millions of monthly active usersMultiple top rankings on App Store and Google Play chartsCollaborations with well-known global IPs (e.g., Care Bears, The Little Prince, Chibi Maruko-chan)Integrating social impact into entertainment, promoting “meaningful play” experiences

Media Contact

Company: WEJOY PTE. LTD.
Contact Person: Bryant
Email: bryant@wejoysg.com
WePlay Official News Website: https://weplayapp.com/news-article/mFVgNfvH 
WeJoy Official Website: https://wejoyhub.com/

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SOURCE WEJOY PTE. LTD.