Google to back startups in Pakistan and Southeast Asia that raised $350 mn last year
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Google said that it will be backing Pakistani startups that raised $350 million in funding in 2021. It is part of the 'Google for Startups Accelerator' (South East Asia and Pakistan) programme.
The tech giant said its support is to nurture the next wave of tech startup founders in the field of e-commerce, finance, healthcare, SME-focused B2B solutions, education, agriculture, and logistics. Interested startups are asked to apply by October 7, 2022.
An official statement from Google said that the company is looking for 10-15 startups based in Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand, and Vietnam. The MNC is interested in startups in the seed or series A stage.
Chosen startups will get access to cutting-edge technology and Google mentors, a network of new contacts to help the founders.
Pakistan has more than 3,700 startups, like DealCart, Dbank, Tag, Bazaar, and Jugnu. They have been growing steadily over the past few years and dealing with the country's most pressing challenges including healthcare and agriculture. This is a trend widely seen in southeast Asia as well.
In Southeast Asia, 80 million new Google users have come online since March 2020. This boosts activity for startups developing digital products and services. Google said it has seen growth as venture funding reached new heights in the region. The thriving youth population is one reason behind this growth.
Over 50% of Southeast Asia's population is under 30 years old. In Pakistan, the median age is 22. Google thinks people in this age group tend to be tech-savvy and have an interest in entrepreneurship. "They are also in tune with global trends."