Trends to Look Out for In APAC in 2022

During a virtual Google for Startups’ press briefing, the tech giant shared some of the key insights from their partnerships with founders across the Asia Pacific.

FREMONT, CA: Google's commitment to helping digital economies develop includes assisting early-stage entrepreneurs of all sizes. The internet giant presented some of the important takeaways from its partnerships with entrepreneurs around the Asia Pacific during a virtual Google for Startups’ press briefing. These include how they're pursuing worldwide expansion, advancing technology, and seeking out assistance to attain their full potential.

As of April 2021, the Asia Pacific region had nearly 200 unicorns, second only to the United States and ahead of Europe. Many of Asia's top startups are having a global influence, whether by creating new business models—such as Grab and other Southeast Asian "super apps"—or by solving universal issues, such as CogSmart in Japan, which is attempting to help prevent dementia at a young age.

The COVID-19 epidemic has increased demand for new digital services, which companies are well-positioned to provide. Since the pandemic began, 60 million individuals in Southeast Asia have become "digital consumers," using at least one internet service.

Asian companies are exploring what is possible with the next generation of technological improvements to address the shifting needs of the region's internet population. People wish to tackle long-standing social, economical, and environmental problems, and they are often focused on areas where technology hasn't advanced as quickly as it has in other parts of the digital economy.

The founders of the region are working on a wide range of potent applications in Artificial Intelligence (AI). Kata.ai, based in Indonesia, is a leader in conversational AI, assisting businesses in providing better customer experiences, while BrainSightAI, based in India, is developing new tools to aid researchers and doctors in better understanding the human brain.

FinTech and eCommerce are flourishing throughout Asia. Many fintech entrepreneurs are motivated by the desire to make banking more accessible and eCommerce a better experience. Through appropriate relationships with their employers, Advance, a Philippine company, is making it easier for Filipino workers to get zero-interest financing. Shopinks, based in Singapore, uses chatbots and tailored emails to help retailers better engage their customers. While there is plenty of funding available for Asian businesses, Google recognises that the region's entrepreneurs require a far broader spectrum of guidance than just money. Keeping up with rules (which vary by country, state, and province), gaining access to infrastructure or technologies, and boosting the present low proportion of women's entrepreneurship are all common obstacles faced by startups in APAC