Venture Capital: Google Launches VC Fund In Asia Focused On Female-Led AI Startups

Google: “This fund puts founders on a global platform to get recognition from VCs around the world for additional funding.”

Google (NASDAQ: GOOGL) has launched the Google for Startups Women Founders Fund, a fund dedicated to supporting female-founded startups in the Asia-Pacific region, where women often face challenges in business. The fund will provide $100,000 in equity-free cash to six startups this year, focusing on India, Japan, and South Korea initially, and later expanding to other Asia-Pacific markets.

Mike Kim, the Asia-Pacific head of Google for Startups, will run the fund, aiming to offer founders a chance to receive much-needed cash and gain global recognition from venture capitalists (VCs) for additional funding. Google for Startups’ other funds have supported over 400 founders who went on to raise more than $400 million in follow-on venture funding. (Forbes)

The fund will concentrate on startups in the field of artificial intelligence (AI). Kim emphasizes the importance of involving underrepresented minorities and women in the AI development process to avoid algorithmic bias. By diversifying the industry, the technology can better serve all segments of the population.

This effort is part of Google’s broader support for women-led AI startups in Asia. In the past, Google for Startups has backed companies like Seoul-based AI For Pet and Tokyo-based Latona. The initiative helps startups grow and also benefits Google by fostering a healthier economy, leading to increased usage of Google products such as TensorFlow and Google Cloud.

Overall, the Google for Startups Women Founders Fund aims to level the playing field for underrepresented founders, foster diversity in the tech industry, and empower women entrepreneurs in the Asia-Pacific region to drive innovation and growth.

Related Story:  AWS And Accel Lend A Hand To Generative AI Startups In India

Photo by Christina @ on Unsplash

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