Asian startups have a global impact by influencing new business models or solving universal problems. They are exploring new technologies to meet the changing needs of the region’s online population, Google said Tuesday.
At Google’s virtual startup event, Google shared with founders in the Asia-Pacific region some key ideas about their partnerships: how they aim for global growth, advance technology and seek support to help realize their potential.
According to Google, there were almost 200 unicorns in the region (startups worth $ 1 billion or more), second only to the United States (290) and ahead of Europe (69). Many Asian startups focus on areas where technology has not made the same progress as in the more sustainable sectors of the digital economy.
Talented and energetic founders across the region are working on a wide range of powerful artificial intelligence (AI) applications. For example, Indian BrainSightAI is creating new tools to help researchers and clinicians better understand the human brain.
Last year, Southeast Asian Decentralized Finance (DeFi) startups raised $ 1 billion in capital, six times more than in 2020. Entrepreneurs behind startups such as Korean DA: Ground make it easier for people in the region to invest and access other financial services.
In addition, financial technology (fintech) and e-commerce are also evolving in the region. The founders in the tech sector are also working to make finances more inclusive. For example, The Philippines’ Advance makes it easier for Filipino employees to access interest-free credit through responsible partnerships with their employers.
According to Google, there is a big boost behind health technology startups (healthtech) such as India’s Zyla, which provides personalized care around the clock via a mobile app.
In addition, the founders of the Asia-Pacific region are also focused on sustainability. For example, the Indonesian company Duitin operates 2,000 waste disposal facilities across the country, and the Taiwanese company Lockists helps improve air quality by reducing car use.
Although there is enough funding for Asian startups, we know that the region’s founders need a much wider range of support in addition to investment. Our goal is to work with everyone in the startup community, including founders, venture companies and governments, to help move the entire ecosystem forward.