At a recent Google for Startups event, Google revealed some key insights from working with its founders in the Asia Pacific. The insights included seeking support to help them make their vision a reality, how they’re approaching global growth, and progressing technology.
We’ve seen technology play a significant role in several industries in recent years. New payment methods and virtual reality are just two examples of innovative tech being used in industries such as finance, education, and online gambling, like the online casinos found at Bonusfinder. Programs like Google for Startups will ensure that tech will continue to support businesses in these industries and beyond.
Making Global Waves
Startups in Asia are making waves on a global level, whether by attacking universal issues or by influencing new business models. Google said that these businesses are looking to emerging technology to meet the region’s changing needs.
The tech giant said there were close to 200 unicorns in the region, which ranks second only to the U.S. (290) and way ahead of Europe (69). Many of these Asian startups emphasize areas where technology has failed to make the kind of progress it has in other sectors of the digital economy.
Founders in the region are working on a wide range of apps driven by artificial intelligence (AI). BrainSightAI, for example, is developing new tools to help clinicians and researchers gain a better understanding of the human brain.
Finance Startups 6x Equity Finance From 2020
Southeast Asian decentralized finance startups raised $1 billion in equity finance in 2021, six times more than in 2020. Entrepreneurs such as DA:Ground are making it easier for people to access financial services, which includes investment.
E-commerce and financial technology are also making great progress in the region. Fintech finders are also doing their part in making funding more inclusive. The Philippines’ Advance, for example, is making zero-interest credit more accessible for Filipino workers by working responsibly with their employers.
Health Tech Gaining Momentum
Google also revealed that there’s significant momentum in health technology startups like Zyla, an Indian company that delivers personalized care 24/7 via a mobile app.
Aside from this, founders in the region are also focusing on sustainability. Indonesia’s Duitin, for example, manages 2,000 waste management sites, and Lockists reduces car use by helping to improve air quality.
Google Investing Big in African Startups
Google also revealed plans to invest $50 million in African startups as a part of its billion-dollar Africa Investment Fund. The Google for Startups Black Founders Fund in Africa Program has given the nod to 50 startups in the continent.
One startup that has already secured equity investments is South Africa’s Carry1st. Google is just one of the investors that invested money into the business. The company, with a 37-strong team located across 18 countries, will invest this additional capital in expanding its content portfolio, securing new users, and growing its engineering, product, and growth teams.
SMEs the Priority
Google is also prioritizing SMEs, which the company said is the foundation of South Africa’s economy and is key when it comes to job creation. Google has teamed up with the Department of Small Business Development and wants to deliver resources, training, and support to these companies via its new Hustle Academy. The academy is a free one-week program for entrepreneurs and small business owners, with virtual live training sessions.
In the months ahead, Google will disburse £3 million in loans to small South African businesses in collaboration with a local finance service provider, along with Kiva, Google’s program designed to hello nonprofits.
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