According to Google, startups in Pakistan secured $350 million in funding in 2021, which is a small sum compared to the Indian startup environment but five times more than they did in 2020.
The tech giant claimed that it will support the next generation of tech startup founders in South East Asia and Pakistan with the “Google for Startups Accelerator,” especially those who are interested in e-commerce, finance, healthcare, SME-focused B2B solutions, education, agriculture, and logistics.
“We’re looking for 10 to 15 startups based in Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand or Vietnam, that are in the seed or Series A stage,” Google said in a statement late on Friday.
These startups will receive support from the accelerator in the form of cutting edge technology, Google mentors, and a network of new contacts to aid them in their endeavours.
Interested startups are encouraged to apply by October 7.
Pakistan has more than 3,700 startups, like DealCart, Dbank, Tag, Bazaar, and Jugnu, among others.
Startups have been expanding significantly and tackling the most important issues in Pakistan, Southeast Asia, and the Middle East in recent years.
These firms are creating digital solutions to address their areas of focus, from healthcare to agriculture.
Since March 2020, 80 million new people have joined the internet in South East Asia alone, which has increased activity for startups creating digital goods and services in a range of industries.
“We’ve seen that growth as venture funding reached new heights in both Southeast Asia and Pakistan,” Google said.
One explanation for this acceleration is that Pakistan and Southeast Asia both have a thriving youth population.
“These young people tend to be tech-savvy, have an interest in entrepreneurship, and are more in tune with global trends,” said the company.
Aspiring entrepreneurs will continue to receive assistance from government-led programmes like Thailand 4.0, Indonesia’s 1,000 startups, Singapore’s Startup SG Founders, as well as Pakistan’s Prime Minister’s Youth Programme.
