Google to support startups in Pakistan that raised $350 mn in 2021
Startups in Pakistan raised $350 million in funding in 2021, a tiny amount when compared to the Indian startup ecosystem but five times the amount they raised in 2020, according to Google.
The tech giant said that it will nurture this next wave of tech startup founders with the ‘Google for Startups Accelerator’ (South East Asia and Pakistan), particularly those that are focused on 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.
The accelerator will support these startups by providing Google mentors, a network of new contacts to help them on their journeys, and the most cutting edge technology.
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.
In the past few years, startups throughout Southeast Asia and Pakistan have been steadily growing and taking on the regions’ most pressing challenges.
From agriculture to healthcare, these startups are building digital solutions to tackle their area of focus.
In South East Asia alone, 80 million new users have come online since March 2020, boosting activity for startups developing digital products and services across a variety 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.
More than half of the population of Southeast Asia is under 30 years old. In Pakistan too, the median age is only 22.
“These young people tend to be tech-savvy, have an interest in entrepreneurship, and are more in tune with global trends,” said the company.
Government-driven initiatives like Thailand 4.0, Indonesia’s 1,000 startups, Singapore’s Startup SG Founders, as well as Pakistan’s Prime Minister’s Youth Programme, will continue to help aspiring founders get their startups off the ground.
Opening bell: Markets open in green amid positive global cues; Sensex at 62,889.90, Nifty at 18,609.90
The markets on Monday opened higher with Sensex at 62,889.90, up by 388.21 points and Nifty was at 18,609.90 with a gain of 110.55 points. Mahindra and Mahindra, TCS, HDFC, IndusInd Bank and Wipro were the top gainers in the morning session.
The stocks of Adani Transmission, Rail Vikas Nigam, IRCTC, Torrent Power and NHPC will be in focus as the companies are announcing the results for the last quarter today.
Markets on Friday
Thanks to increased buying by Foreign Institutional Investors, Sensex surged 623 points to end the week at 62,496. Nifty also went up by 0.94 per cent to hit 18,495 points at close, buoyed by a rebound for global markets and gains made by US stocks.
Wall Street shares on Friday after being on the lower end rose sharply as the US debt ceiling progressed and chip stocks gained for a second straight day due to optimism surrounding AI. The Nasdaq Composite rose by 2.19 per cent to 12,975.69, S&P 500 closed higher at 4,205.45 and the Dow Jones Industrial Average rose to 33,093.34.
With the US debt negotiations reaching closer to a deal the Asian markets on Monday were in green. Singapore’s SGX Nifty saw a gain of 159 points at 18,707, South Korea’s KOSPI was comparatively flat with a gain of 4.12 points at 2,558.81 and Japan’s Nikkei 225 was in the green with a gain of 159 points at 31,330.63. However, Hong Kong’s Hang Seng was at 18,723.72 with a drop of 23.20 points.
Oil prices on Monday were were higher after as United States leaders reached a tentative decision to avoid debt default. Brent crude futures went up by 39 cents to $77.34 per barrel and US West Texas Intermediate crude was at $73.12 per barrel with a gain of 45 cents.
Indian rupee on Monday opened flat at 82.58 per dollar against Friday’s close of 82.57.
Let’s build Twitter 2.0 together, new CEO Linda Yaccarino tells Musk
The upcoming Twitter CEO, Linda Yaccarino, former Chairman of Global Advertising and Partnerships at NBC Universal, on Sunday said she is prepared to build Twitter 2.0 and transform the business together with Musk and millions of platform users.
Yaccarino, who will start in six weeks in her new position, will focus primarily on business operations.
“I’ve long been inspired by your vision to create a brighter future. I’m excited to help bring this vision to Twitter and transform this business together,” she posted.
“I’m just as committed to the future of this platform. Your feedback is VITAL to that future. I’m here for all of it. Let’s keep the conversation going and build Twitter 2.0 together,” Yaccarino further commented.
There have been some concerns too regarding Yaccarino’s appointment as the new Twitter CEO.
A user posted that she is not here to improve the user experience but wants Twitter to be a ‘safe space’.
“She represents advertisers, and her natural inclination is to limit speech, and pander to those who push woke ideology on the world. You will have to watch her like a hawk. No doubt she’ll bring in advertising revenue in the short term, but she’s a long-term mistake,” posted a user named Billboard Chris.
Musk replied: “I hear your concerns, but don’t judge too early. I am adamant about defending free speech, even if it means losing money.”
Musk is looking forward to working with Yaccarino to transform the platform into X, the everything app, just like China’s WeChat.
Google unveils its first foldable phone with a teaser, more details inside
Before touch screen phones took over, flip phones used to be a compact option folding screens and keypads into one, as well as a style statement. When foldable handsets were first floated to bring back the era of flip phones, there were initial apprehensions about how durable their hardware will be.
But years later, smartphone makers such as Samsung are shipping millions of units a year, prompting Google to unveil its first foldable device.
Google’s entry into the fold
- With the camera setup of its flagship Pixel smartphone, Google’s new marvel features a 7.6-inch foldable display.
- The handset which folds like a book, has been revealed in a teaser tweeted by Google, and it comes with a full-size screen on the front.
- The device touted to have the most durable hinge for a foldable device, will compete with Samsung’s Galaxy Z Fold 4, since it will be priced at Rs 1.55 lakh.
Packs a powerful battery within
- The smartphone expected to be launched at Google’s yearly developer conference, will also feature a Google Tensor G2 processor.
- Although further details are yet to be revealed, the most expensive Pixel to date will also have a 24-hour battery life.
- The announcement comes after Google trained Android developers to create apps that are suitable for foldable phones.
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