Dear friends & partners,
This is the September edition of the monthly newsletter on initiatives relating to startup ecosystems in the CAREC region. The newsletter, which is prepared by the CAREC Secretariat, highlights relevant developments on startups and related sectors such as information and communication technologies and digital transformation.
We welcome you to share activities from your organization to be included in this newsletter. The newsletter is shared with various institutions across the CAREC region, including organizations in the private sector, government agencies, multilateral banks, media outlets, non-governmental agencies, and others.
Regards,
Team CAREC
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Cloud Computing as a Key Enabler for
Tech Start-ups across Asia and the Pacific
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New enterprises that produce digital solutions for businesses, public institutions, civil society, and consumers play a vital role in shaping digital economies.
These dynamic tech start-ups not only excel at effectively integrating leading talent and sources of capital; they also act as catalysts for the digital transformation of traditional industries and businesses, boosting productivity and growth. In order to leverage this potential, Governments need to establish or refine policies and mechanisms that foster vibrant start-up ecosystems, such as fostering the adoption and expansion of cloud computing as a foundational technology for the digital economy.
ADB has just published a working paper on this topic, providing an overview of the opportunities and challenges involved. The paper suggests how policymakers and ecosystem enablers can help start-ups make the most of cloud-computing technologies.
It will be launched through a webinar on 10 September, 11:00 A.M. (GMT+8), featuring a presentation of the key findings and a panel with speakers from the industry, tech startup community, as well as ADB Ventures.
Source: adb.org
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Virtual Consultation Meeting with Private Sector on
CAREC Digital Strategy 2030
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On 18th and 19th August, private sector leaders from CAREC member countries discussed the draft CAREC Digital Strategy 2030.
Senior representatives shared their priorities, identified opportunities, recognized challenges, and deliberated on the vision and framework needed to develop the region’s digital economy and reduce the digital divide. The consultation was organized by the CAREC Secretariat.
For details, please follow this link.
Source: carecprogram.org
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The Chinese City Dongguan is the
Silicon Valley of Robotics Startups
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Dongguan-the city in southern Chine that was once referred to as the world's factory indeed changed its profile and is now quickly emerging as a powerhouse for the country's robotics ambitions.
In the latest years, Songshan Lake, an industrial development zone of Dongguan, has attracted hundreds of robotics companies, both new and established ones. They produce all products starting from industrial robots to service robots for daily housekeeping. While the pandemic slowed down the growth for most industries last year, robotics has had a good run as the need for contactless services and automation work rose. A slew of dazzling venture capital deals has come out of robotics startups in Dongguan, led by top investors like Sequoia, Hillhouse, and ByteDance.
It's no coincidence that both Dongguan and Guangdong, have become the leaders in robotics. There are thousands of factories with different profiles producing everything from electronics to toys to clothing to furniture. China's most prominent brands such as Huawei were created here.
For details, please follow this link.
Source: protocol.com
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E-commerce Startup Raises
$30 Million in Landmark Pakistan Deal
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Bazaar Technologies Pvt., an E-commerce startup from Pakistan, raised $30 million from investors in one of the nation’s largest fundraisings by an early-stage tech company, its founders said.
Silicon Valley-based Defy Partners Management LLC and Singapore-based Wavemaker Partners LLC led the initial round of funding into the one-year-old firm, which operates a business-to-business marketplace for grocery stores, said Saad Jangda, one of its two co-founders. Acrew Capital Management Co., Japan’s Saison Capital, UAE’s Zayn Capital Ltd., and existing backer Indus Valley Capital also participated in the round, according to Jangda.
For details please follow this link.
Source: bloomberg.com
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Uzbekistan and Ukraine to Develop Startups Together
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A delegation of the Ministry of Innovative Development and the Ukrainian Chamber of Commerce and Industry discussed joint cooperation in the field of information technology and startups.
Executive Director of the Fund for Financing Science and Support for Innovation under the Ministry of Innovative Development Bunyod Okhunov spoke about the favorable ground created for the development of information technologies and start-ups in Uzbekistan.
Uzbek side also invited Ukrainian entrepreneurs to take part in the Week of Innovative Ideas InnoWeek.uz-2021, which will be held in November 2021 in Tashkent. The parties shared opinions on the prospects for joint implementation of innovative projects.
Final negotiations on joint projects in the field of information technology and start-ups will be held in the fall during the visit of Uzbek entrepreneurs to Ukraine.
For details please follow this link.
Source: uzdaily.uz
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About CAREC Program
The Central Asia Regional Economic Cooperation (CAREC) Program is a regional cooperation initiative consisting of 11 member countries and development partners and aims to promote development through cooperation, leading to accelerated economic growth and shared prosperity.
Due to the emerging circumstances caused by COVID-19 pandemic, CAREC Program has launched a project to support startups and ecosystems at a regional level in collaboration with the member countries and private sector.
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