Photo Ralph H. Baer in Manchester, N.H., in 2005 with the game system he invented called the “brown box,” later named Odyssey. He was also a co-inventor of the electronic game Simon, pictured in the foreground. Credit Ken Williams/Concord Monitor, via Associated Press Continue reading the main story Share This Page Continue reading the main story Ralph H. Baer , who turned television sets into electronic fantasy lands by inventing and patenting the first home video game system, died on Saturday at his home in Manchester, N.H. He was 92. His death was confirmed by his family. Video games have become more than just a ubiquitous pastime and a gigantic market (by some estimates, total worldwide sales of console hardware and software and online, mobile and computer games exceeded $90 billion in 2013). They are also an engine that has driven scientists and engineers to multiply computer speed, memory and visualization to todayâs staggering capabilities. Flash back to the sultry late summer of 1966: Mr. Baer is sitting on a step outside the Port Authority Bus Terminal in Manhattan waiting for a colleague. By profession, he is an engineer overseeing 500 employees at a military contractor
There’s more money flowing into Southeast Asia’s tech startup scene after Singapore’s Golden Equator Capital and Seoul-based Korea Investment Partners announced plans for a collaborative $88 million (SG$120 million) fund for the region. The two investment firms will act as joint partners for the vehicle, which is expected to hit a first close before September and a final close by the end of 2018. Already, they claim to have 65 percent of the target capital committed by LPs. The firms are aiming for the Series A and B spaces with a typical check size of between $1.5 million and $3.7 million for what will be known as the GEC-KIP Fund. It isn’t exactly clear what focus the fund will adopt for investments. Southeast Asia often falls off the radar for investment in Asia, with the far larger countries of China and India typically getting the attention, but rising internet access among the region’s cumulative population of over 600 million signals growth potential. A recent report co-authored by Google forecasts Southeast Asia’s ‘internet economy’ reaching more than $200 billion by 2025, up from just $30 billion in 2015. A few unicorns, including ride-sharing companies Grab and Go-Jek, have also helped put it on the map for investors. Speaking of investors, Golden Equator Capital is part of Golden Equator , a Singapore-based group of businesses that includes financial services, consulting, an incubator and, of course, investment funds. The firm has existing ties with Korea — via a Korea-focused health tech incubator launched last year — and its advisory team includes Taizo Son , founder of Japanese VC firm Mistletoe and brother of SoftBank chairman Masayoshi Son.