Asian startups making global impact, exploring emerging technologies: Google

At a virtual Google for Startups event, Google shared some of the key insights from its partnerships with founders throughout the Asia Pacific - how they're targeting global growth, moving technology forward, and seeking out support to help realize their potential.


Devdiscourse News Desk | New Delhi | Updated: 22-02-2022 13:05 IST | Created: 22-02-2022 13:05 IST
Asian startups making global impact, exploring emerging technologies: Google
Representative image Image Credit: Pixabay

Asian startups are making a global impact, whether by influencing new business models or by tackling universal challenges. They are exploring emerging technologies to meet the changing needs of the region's online population, Google said on Tuesday.

At a virtual Google for Startups event, Google shared some of the key insights from its partnerships with founders throughout the Asia Pacific - how they're targeting global growth, moving technology forward, and seeking out support to help realize their potential.

According to Google, there were almost 200 unicorns (startups valued at USD1 billion or more) in the region, second only to the United States (290) and ahead of Europe (69). Many of the Asian startups are focused on areas where technology hasn't made the same progress it has in more established sectors of the digital economy.

Talented and energetic founders across the region are working on a wide range of powerful applications powered by artificial intelligence (AI). For instance, India's BrainSightAI is building new tools to help researchers and clinicians better understand the human brain.

Last year, Southeast Asian Decentralized finance (DeFi) startups raised $1 billion in equity funding - that's six times the amount in 2020. Entrepreneurs behind startups like Korea's DA:Ground are making it easier for people in the region to invest and access other financial services.

Further, financial technology (fintech) and e-commerce are also booming in the region. Founders in the fintech sector are also working to make finance more inclusive. For instance, The Philippines' Advance is making it easier for Filipino workers to access zero-interest credit through responsible partnerships with their employers.

According to Google, there is great momentum behind health technology (healthtech) startups like India's Zyla, which provides 24/7, personalized care via a mobile application.

Apart from this, Asia-Pacific founders are also focused on sustainability. For instance, Indonesia's Duitin manages 2,000 waste management sites across the country, and Taiwan's Lockists helps improve air quality by reducing car use.

While there's ample funding available for Asian startups, we know that the region's founders need a much wider range of support beyond investment. Our aim is to work with everyone in the startup community — including founders, venture capital firms and governments — to help move the entire ecosystem forward.

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