In recent years the startups in the South Asia region, especially in Pakistan, are thriving. Despite having so many challenges, these startups are growing steadily. These startups provide the solution to each industry, from agriculture to health care, and are profitable.
Due to global connections, we have seen immense growth in digital users in this region, and the audience is getting more competitive in the digital sector. The development was seen in march 2020 after the pandemic. The audience and digital business shifted online, where the influx of the audience increased.
Many venture funding reached new ridges in south Asia and Pakistan. These startups are developing many functional and innovative digital products.. In South East Asia, deal shifting hit a record US$11.5 billion in the first half of 2021. Meanwhile, in Pakistan, startups raised US$350 million in funding in 2021, five times the amount in 2020.
One reason for this acceleration is that Pakistan and South East Asia have booming youth. More than half of the population of South East Asia is under 30 years old. In Pakistan, too, the median age is only 22. These young people tend to be tech-savvy, curious about entrepreneurship, and more in tune with global trends. With that mindset, they’re often more inclined to use, arising technologies like artificial intelligence and blockchain to solve problems and make digital products.
Government help across the regions has also helped local governments have recognized startups’ critical role in their economies, specifically in digital transformation and creating job opportunities. Government-driven enterprises like Thailand 4.0, Indonesia’s 1000 startups, Singapore’s Startup SG Founders, and Pakistan’s Prime Minister’s Youth Program will resume helping aspiring founders get their startups.
Google is keen to promote this next wave of tech startup founders with the Google for Startups Accelerator (South East Asia and Pakistan), particularly those focused on e-commerce, finance, healthcare, SME-focused B2B solutions, education, agriculture, and logistics.
The startups are for the young entrepreneurs, and the wave of startups, especially in the tech industry, will make this region more innovative, and soon the tech will shift to the east.
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