Internet of Things technology is a necessity after COVID-19. The healthcare sector is reaping the most benefit, as found in several industry reports. Technology use is increasing in healthcare.
UX design services are essential in developing any products; otherwise, the product can potentially lose out to its competitors, and the business can fail, so hire UX design firms.
Industrial edge computing is a newer technology which is incorporating artificial intelligence, Internet of Things devices and business analytics to pull back customers to physical shops.
Artificial intelligence is the technology that is being implemented across industries. It is improving customer satisfaction and operational efficiency. The monitoring and security features are improving everyday.
Data scraping companies give efficient, effective and cheap methods of obtaining data. These files are a goldmine for marketing platforms. The data is used for reports and making smart decisions.
Big data refers to structured or unstructured data. It is stored in the cloud or traditional databases. Businesses then analyze this data for uses ranging from getting customer and competitive insights to developing new products and services and optimizing operations and strategies.
UI/UX tools make it easy for developers to get the job done. Clients can hire experts to revamp, build or change website layouts without spending a lot of time and resources with free online tools.
In Q3-2021, the Next-11 countries (excluding Iran) saw at least 266 venture investments, with a reported invested capital of US$5.6 billion, across technology startups. This was a 69% increase in funding compared to Q2-2021 and reaffirmed an increased interest among global VCs in the potential of these countries.
The Next Eleven (or N-11) are eleven countries—Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam— identified by Goldman Sachs investment bank as having a high potential of becoming the world’s largest economies in the 21st century along with the BRICs. Together, these countries have a population of approximately 1.5 billion, with 0.8 billion internet and social media users and a GDP of US$ 16 trillion (PPP). With a relatively young population, growing middle class, fortifying digital infrastructure and a strong pool of STEM graduates, these countries are increasingly becoming hotbeds for startups and venture capital.
Pakistani startups raised at least US$78 M venture capital in the first half of 2021, with 89 VCs from 15 countries participating in 25 deals. Ecommerce, fintech and healthtech verticals attracted the most capital. Tajir, Finja and Dawaai were among the top fundraisers.
Although this was a relatively low level of activity compared to other similar countries in Goldman Sachs’s Next-11 group of countries, investments in Pakistani startups have been showing strong growth over the past years. Compared to the first half of 2019, reported investments in the first half of 2021 increased by 11x, while the number of deals increased by 1.5x which is better than most N-11 countries.