Technology

THE ANNENBERG FOUNDATION’S “PLEDGE LA” AND LOS ANGELES MAYOR KAREN BASS PARTNER TO SUPPORT L.A.’S NEXT GENERATION OF VENTURE CAPITAL, TECH AND CIVIC LEADERS

Published

1 year ago

December 19, 2024

Mayor Joins Inaugural PledgeLA Catalyst Awards to Recognize Leaders Increasing Access to Capital in L.A.’s VC and Tech Ecosystem

LOS ANGELES, Dec. 18, 2024 /PRNewswire/ — The Annenberg Foundation and Los Angeles Mayor Karen Bass today presented the first Catalyst Awards given by PledgeLA, the regional initiative that works to increase access to capital for L.A.-based startups and investors from underrepresented backgrounds. Mayor Bass, PledgeLA principals and more than 300 tech founders, VC investors and community leaders gathered at the El Rey Theatre to recognize 11 Angelenos for their impact and efforts to strengthen Los Angeles’s local economy and entrepreneur community.

“Recognizing L.A.’s boundless entrepreneurial talent — and the power of this creative region to move the needle on representation — we established PledgeLA to build a thriving ecosystem reflective and accessible to all of Los Angeles. Access to capital is central to that effort, and the community leaders here tonight are committed to expanding it,” said Cinny Kennard, Executive Director of the Annenberg Foundation. “The accomplishments of our awardees are but a glimpse of what’s possible here, and we are excited to build on this effort.”

Karen Bass, the 43rd Mayor of Los Angeles, said: “Opening Los Angeles for business means working to increase investment and opportunity for Angelenos who have too often been left out. PledgeLA and the Annenberg Foundation are vital partners in realizing L.A.’s next generation of venture capital, tech and civic leaders. My Office of Business and Economic Development is building on this vision with partners like PledgeLA as we continue to support startups, investors, entrepreneurs and small business owners so they can thrive here in L.A. Congratulations to the first Catalyst Awards honorees – your commitment to increasing access to capital and expanding representation in our local economy has the power to drive lasting impact in our city.”

Mayor Bass and Executive Director Kennard led discussions Wednesday evening on developing a resilient tech ecosystem in L.A. and on deepening public-private collaboration between the city and investors in the innovation economy.

Among the inaugural Catalyst awardees were Kwanza Jones and José E. Feliciano, whose Kwanza Jones & José E. Feliciano Initiative invests in and partners with nonprofits and for-profits focused on education, entrepreneurship, equity, and empowerment. Since founding their initiative in 2014, the partners in life, business, and impact have personally committed over $200 million to these efforts, including $20 million to Princeton, $1 million to HBCU Bennett College, and $500,000 to Puerto Rico for Hurricane Maria relief. Jones and Feliciano received the Limited Partner Catalyst Award, in recognition of their significant investments in underrepresented fund managers.

“We co-founded the Kwanza Jones & José E. Feliciano Initiative to boost humanity and power possibilities through education, equity, entrepreneurship and empowerment. We believe that one of the key catalysts for unlocking human potential is access to capital and economic opportunities. That’s why we are committed to investing in organizations and individuals who are breaking barriers, opening doors, and building bridges of opportunity.

“Investing intentionally but not exclusively in underrepresented founders and fund managers is about more than just financial returns—it’s about catalyzing a community of innovation and collaboration. Diversity fuels excellence, and when diverse perspectives are included, outcomes are optimized and more impactful.

“This recognition from PledgeLA affirms our mission: breaking barriers, unlocking potential, and driving change. Together, we can reimagine what’s possible—for LA and beyond,” said Kwanza Jones and José E. Feliciano, Co-Founders of Kwanza Jones & José E. Feliciano Initiative (Jones•Feliciano).

Also honored Wednesday were Slauson & Co, a $100 million venture capital firm rooted in economic inclusion led by Austin Clements and Ajay Relan, who were honored with the Portfolio Catalyst award. Slauson & Co’s original $75 million Fund I backed 38 companies, most of which are led by people of color and at least half of which are led by women. Slauson & Co. directs all its investment to underrepresented founders.

Dana Settle, one of the first female fund leaders in the industry, was recognized with the Pathbreaker Catalyst award for her work to create paths to capital and opportunity. Settle serves as co-founder and managing partner at Greycroft, one of the largest VC funds in the United States ($2 billion Assets Under Management) and is a founding member of the female mentorship collective All Raise.

In addition, awards for “Most Inspiring Entrepreneur,” “Ecosystem Builder,” and “Most Inspiring Emerging Manager” were given to L.A.-based tech investors, entrepreneurs and nonprofit leaders for their impact on the local community, workforce development and creating access to capital. Winners and all nominees appear below.

Annual Data on L.A. Venture Capital Shows Continued Opportunity Gap; Research Expanded to New York City

In addition to the 2024 awards, PledgeLA released its annual report on diversity in L.A. venture capital. Data analyzed by UCLA’s Luskin School of Public Affairs show that among 75 venture capital firms in Los Angeles who are part of PledgeLA there remains a gap in investment in underrepresented minority (URM) founders. Among the findings for 2023, Black and Latina women remain the least represented groups across the PledgeLA portfolio, making up only 1% and 2% of 2023 companies, respectively. However, in terms of median deal size for startups, the gap between women-only teams and all-men teams shrank considerably, to $700,000 less versus $3.8 million less in 2022.

The 2024 Venture Capital Portfolio Diversity Report can be read here.

The Annenberg Foundation this year commissioned the same UCLA researchers to also code and analyze data for the Venture Access Alliance (VAA), an initiative of the New York City Economic Development Corporation (NYCEDC). This effort includes collecting demographic data for 2023 on 72 venture capital (VC) firms within the VAA membership and their 323 portfolio companies, led by over 540 founders. VAA’s report and diversity findings can be found here.

PledgeLA: Catalyzing and Recognizing Change
Established in 2018 in partnership with the City of Los Angeles and Mayor Eric Garcetti, PledgeLA was the first and is the only local effort to annually monitor diversity and equity in accessing capital in L.A. It both supports and holds accountable an industry vital to all Angelenos through:

Placing underrepresented promising college graduates in Venture Capital Fellowships (70 since 2019)Researching and reporting anonymized representational data and demographics in the annual Venture Capital Portfolio Diversity report produced by UCLA’s Luskin School of Public Affairs to help track LA’s progress and challenges. In many cases, these data have never been collected.Convening partners and thought leaders at L.A. Tech Week and facilitating mentorships for college students with L.A. tech leaders

Previously, PledgeLA helped incentivize investment in Black and Latinx entrepreneurs through a Founders Fund (est. 2021) that helped founders who had demonstrated traction increase recurring revenue, find follow-on capital, and build community with their peers.

Additional 2024 PledgeLA Catalyst Award Winners
Most Inspiring Entrepreneurs
ChargerHelp! – co-founded by Evette Ellis and Kameale Terry, ChargerHelp! ensures EV charging stations stay operational, helps manage charging infrastructure and provides maintenance through an EV service workforce that it trains and deploys. Ellis and Terry are originally from Compton and South Central Los Angeles, respectively.

Cherub – co-founded by Angeline Vuong and Jaclyn Johnson, a serial entrepreneur, Cherub facilitates fundraising from angel investors for women-led companies using an online membership model. The platform has raised $3M for startups focused on consumer packaged goods, AI companies, hotel projects, apps and more.

Most Inspiring Emerging Manager – Noramay Cadena is managing partner at Supply Change Capital, which invests at the intersection of food, culture, and technology to modernize the food system. She was recognized as a rising investor from an underrepresented background for outsized impact on the local tech ecosystem. Among many board memberships, she is on the board of the Latino Community Foundation and Care Enterprises, Inc., which is focused on creating economic opportunities for people in poverty and women.

Ecosystem Builder – Amiah Sheppard has led investments and accelerated dozens of underrepresented founders internationally, as well as helped invest and support 100 other underrepresented founders across the U.S. She was recognized for “going above and beyond to make connections and increase access for underrepresented founders.

Nominees
Entrepreneurs — Montré Moore and Angel Lenise Pyles, AMP Beauty; Tony Gonzalez, Mundial Media; Rebecca Caputo and Val Emanuel, Rif Care; Selena Watkins, Socanomics

Emerging Managers — Madeline Darcy, Managing Partner at Kaya Ventures; Brandon Hoffman, General Partner at Sunset Ventures; Kimberley Nixon, Managing Partner at Open Venture Capital; Tracy Gray, Managing Partner at The 22 Fund

Ecosystem Builders — Espree Devora, Founder at WeAreLATech; Raychel Espiritu, Program Director at Walking Softer; Derek Smith, CEO & Founder at Plug In Ventures; Sophie Nazerian, Vice President, Innovation Economy, Startup Banking at JPM Startup Banking

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SOURCE The Annenberg Foundation

Technology

Fox ESS Ranks No. 1 Globally in Residential Energy Storage

Published

49 minutes ago

April 24, 2026

WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

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SOURCE Fox ESS

Technology

Deepvein Mining Tech Wins NY Product Design Gold for Exploration Robotics

Published

49 minutes ago

April 24, 2026

SHANGHAI, April 23, 2026 /PRNewswire/ — Deepvein Mining Tech, a developer of robotic systems for mining operations, has received Gold at the 2026 NY Product Design Awards for its Intelligent Geological Mapping and Geochemical Sampling Quadrupedal Robots, a robotics series developed for mineral exploration in remote and high-risk field environments.

The NY Product Design Awards, organized by the International Awards Associate (IAA), recognize achievements in product design and industrial innovation worldwide.

Mining exploration has become increasingly costly and technically challenging as easily accessible deposits are depleted, particularly in remote and geologically complex regions where fieldwork can be slow, labor-intensive and operationally demanding.

Deepvein’s award-winning robotics series was developed to address those constraints through a combination of quadrupedal robotic hardware and integrated software systems. The solution supports route planning, equipment coordination, sample logging and geological data management, helping standardize field operations and reduce manual workloads.

Designed for geological mapping and geochemical sampling, the robotic units can autonomously perform targeted collection tasks while reducing repeated manual fieldwork. A single operating cycle can gather approximately 30 to 50 samples.

According to deployment data from company-operated mining assets in Africa, exploration data collection cycles were reduced from around 12 months to one week, while overall workflow costs fell by approximately 40%.

Beyond efficiency gains, the use of robotic systems in steep, high-temperature or hard-to-access areas can help reduce personnel exposure to hazardous conditions. Improved targeting and digital workflow management can also limit unnecessary surface disturbance during early-stage exploration.

Deepvein is developing a broader portfolio of mining robotics covering the industry lifecycle, with future applications expected in transport support, inspection, maintenance and site rehabilitation, alongside continued iteration of its exploration-stage systems.

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SOURCE Deepvein Mining Tech

Technology

SK Group Establishes Foundation for AI Collaboration with Vietnam

Published

2 hours ago

April 24, 2026

SK Telecom and SK Innovation sign separate MOUs with Vietnam’s Nghe An Province and the National Innovation Center (NIC) to foster artificial intelligence (AI) ecosystem development.From AI data center (AIDC) construction to stable power supply, Korea’s full-stack AI is poised for its first overseas expansion.SK Chairman Chey Tae-won: “SK Group will contribute to the advancement of Vietnam’s AI industry through its comprehensive AI portfolio.”

SEOUL, South Korea, April 24, 2026 /PRNewswire/ — SK Group announced it will collaborate with Vietnam to build the country’s artificial intelligence (AI) industry ecosystem and develop core AI infrastructure.

At the Korea–Vietnam Business Forum held in Hanoi on April 23, SK Group signed separate memoranda of understanding (MOUs) with the Nghe An Provincial Government and Vietnam’s National Innovation Center (NIC) to foster AI ecosystem development.

The signing ceremony was held in the presence of Kim Jung-kwan, Minister of Trade, Industry and Resources of Korea, and Ngo Van Tuan, Minister of Finance of Vietnam.

The Memorandum of Understanding (MOU) between the Nghe An Provincial People’s Committee and SK Group was signed by Vo Trong Hai, Chairman of the Nghe An Provincial People’s Committee; Choo Hyeong-wook, President & CEO of SK Innovation; and Jung Jai-hun, President & CEO of SK Telecom.

Another MOU between the National Innovation Center (NIC) and SK Group was signed by Vu Quoc Huy, Director General of NIC; Choo Hyeong-wook, President & CEO of SK Innovation; and Jung Jai-hun, President & CEO of SK Telecom.

Chey Tae-won, Chairman of SK Group and Chairman of the Korea Chamber of Commerce and Industry (KCCI), also attended the ceremony.

Earlier, at the Korea–Vietnam Summit, the two countries agreed to expand cooperation in future growth sectors such as AI, semiconductors, and energy. SK Group’s MOUs with Vietnam represent this bilateral cooperation being put into action by the private sector.

Through these partnerships, SK Group plans to support Vietnam’s growth as a key partner in its national AI strategy. In addition, building on AI data center development and stable power supply, SK Group is expected to lay the groundwork for the first overseas expansion of its “Korean-style AI full-stack” model, linking AI model development and validation with the rollout of industry-specific AI services.

Joint AIDC feasibility study in Nghe An linked to the Quynh Lap LNG Power Project

SK Innovation and SK Telecom signed an MOU with the Nghe An provincial government to jointly explore developing an AIDC and related infrastructure projects in the region. Nghe An is a major economic hub in north-central Vietnam and has emerged as a fast-growing region for manufacturing, energy and advanced industries, supported by its port and logistics infrastructure.

SK Innovation will explore broad cooperation opportunities in energy solutions, including supplying electricity to the data center and building dedicated generation facilities connected to the Quynh Lap LNG Power Project, for which it was recently selected as the developer.

SK Telecom plans to review options for developing, building, and operating the AIDC while also seeking to secure global demand. The Nghe An provincial government agreed to discuss support measures to help advance the partnership, including permits, administrative procedures, inter-ministerial coordination and incentive programs.

In February, SK Innovation was selected as a developer for the Quynh Lap LNG power project in Nghe An Province, together with PV Power, a power generation subsidiary of Vietnam’s state-owned oil and gas group PVN, and local company NASU. The project is a large-scale energy infrastructure initiative that includes the development of a 1,500-MW gas-fired combined cycle power plant, an LNG terminal, and a dedicated port, with construction scheduled to begin in 2027 and completion targeted for 2030. From the proposal stage, SK Innovation also presented a model to foster high value-added industries by integrating SK Group’s AI and semiconductor capabilities in areas near the power plant, thereby laying the foundation for the current partnership.

At the forum, the Nghe An government also presented the SK Innovation consortium with the Investment Registration Certificate (IRC) for the Quynh Lap Power Project, reaffirming its commitment to the development.

“Drawing on SK Group’s experience in operating large-scale power generation and diverse energy solution businesses, we will ensure the successful development of the local power infrastructure,” said Choo Hyeong-wook, President & CEO of SK Innovation, during a presentation titled “Vietnam’s Economic Leap through AI + Energy Innovation.”

Cooperation with NIC to Build Vietnam’s AI Ecosystem

SK Telecom and SK Innovation also signed a comprehensive MOU with Vietnam’s NIC to support the development of the country’s AI ecosystem.

The two sides agreed to cooperate on AIDC development, energy infrastructure development and the establishment of policy and institutional frameworks to foster the AI industry.

Under the agreement, SK Telecom will support AI ecosystem development in Vietnam through technology collaboration and investment promotion, and SK Innovation will provide energy solutions for AIDCs and related industries. The NIC will provide institutional support, such as coordinating with government agencies, improving regulations and developing policy, while also identifying and connecting local partners to facilitate project execution.

Established in 2019 by the Vietnamese government, NIC serves as the country’s national innovation hub, leading initiatives in AI, semiconductors and investment promotion. SK Group has maintained a close partnership with NIC, including a previous $30 million contribution toward its establishment.

Jung Jai-hun, President and CEO of SK Telecom, said, “AI data centers are key infrastructure that underpins the growth of the AI industry. Building on SK Group’s accumulated capabilities in the development, construction, and operation of AI data centers, we will further refine a collaboration model tailored to the Vietnamese market.”

First Overseas Expansion of Chairman Chey Tae-won’s “AI Full-Stack Provider” Vision

This partnership in Vietnam is significant as it could mark SK Group’s first overseas expansion of the “AI full-stack provider” strategy, integrating capabilities in AIDC, power, and energy solutions.

Chairman Chey Tae-won has consistently articulated his vision of transforming SK Group into an “AI full-stack provider.” Leveraging SK Group’s strengths across the AI value chain—including semiconductors, data centers, power and energy solutions, and AI services—the Group aims to build the most efficient AI infrastructure model.

Under this vision, SK Group is advancing the development of the 100-MW hyperscale “SK AI Data Center Ulsan,” targeted for completion in 2027. The Group has also been laying the groundwork for Korea to emerge as an Asia-Pacific AI hub by engaging in discussions with OpenAI on collaboration for AI data center development in Korea.

Ahead of the Korea–Vietnam Business Forum, Chairman Chey Tae-won said at a business roundtable, “AI will play a critical role in Vietnam’s continued growth. SK Group has a portfolio spanning the entire AI ecosystem—from energy and semiconductors to AI models and applications—and we will leverage this to make tangible contributions to the development of Vietnam’s AI industry.”

About SK Telecom

SK Telecom has been leading the growth of the mobile industry since 1984. Now, it is taking customer experience to new heights by extending beyond connectivity. By placing AI at the core of its business, SK Telecom is rapidly transforming into an AI company with a strong global presence. It is focusing on driving innovations in areas of AI Infrastructure, AI Transformation (AIX) and AI Service to deliver greater value for industry, society, and life.

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

About SK Innovation

Founded in 1962 as Korea Oil Corporation, SK Innovation has been at the forefront of Korea’s energy industry for over six decades. The company has pioneered numerous milestones, including Korea’s first overseas oil field development, the vertical integration of its energy and chemical businesses, the nation’s first private LNG import, and a strategic entry into the electric vehicle battery business.

Now, SK Innovation has reached a transformative turning point in its journey to become a Comprehensive Global Energy Company. Extending beyond its traditional oil business to encompass the entire energy value chain -spanning LNG & Power, Renewable Energy, and Energy Solutions- the company is driving global expansion, including in Vietnam.

For more information, please visit the official SK Innovation website at www.skinnovation.com.

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SOURCE SK Group; SK Telecom