New Delhi, Aug 27 : Startups in Pakistan have raised 350 million in funding in 2021.It’s a tiny amount when in comparison to the Indian startup scene, but five times more than the amount they received in 2020 as per Google.
The tech giant stated that it would nurture the next generation of tech founders of startups with the Google for Startups Accelerator’ (South East Asia and Pakistan) specifically those who focus on finance, e-commerce, healthcare, B2B solutions that target SME-oriented businesses education, agriculture, and logistics.
“We’re seeking between 10 and 15 startups in Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand or Vietnam, which are in the series A or seed phase,” Google said in an announcement the evening of Friday.
The accelerator will help the startups with Google mentors and an extensive network of new contacts to assist them along their way and modern technology.
Startups interested in pursuing their dream are encouraged to apply by the 7th of October.
Pakistan boasts more than 3700 startups such as DealCart, Dbank, Tag, Bazaar, and Jugnu among others.
In the last few years, startups across Southeast Asia and Pakistan have been growing at a steady pace and tackling the region the most pressing issues.
From healthcare to agriculture These startups are creating digital solutions to address their areas of concentration.
In South East Asia alone, 80 million new users have joined the internet since March 2020, which is a boost to activity for startups creating online products and services in various of industries.
“We’ve witnessed this growth in venture funding as it has reached new heights in both Southeast Asia and Pakistan,” Google said.
One reason for this increase could be that Pakistan as well as Southeast Asia both have a growing youth population.
Nearly 50% of the populace of Southeast Asia is under 30 years old.In Pakistan too the median age of residents is just 22 years old.
“These young people are generally technologically adept, are interested in business and are more in the loop with world trends,” said the company.
Government-driven initiatives such as Thailand 4.0 and Indonesia’s 1000 startups and Singapore’s Startup SG Founders, as the Pakistan Prime Minister’s Youth Program, will continue to assist aspiring entrepreneurs get their businesses off the start.
na/
