According to data obtained by Amazon Web Services (AWS), the Southeast Asian Region saw significant growth in startup early-stage funding in the first quarter of 2021. Pre-Series A startup funding has been up by 64.1% compared to the same period in 2020, thanks to more affordable and easy-to-deploy cloud services available to budding entrepreneurs.
Industry analysts across the globe agree that the ongoing pandemic saw the rise of promising digital startups as most countries implemented lockdowns. One key component to the success of this new breed of businesses is the general availability of affordable and easy-to-use cloud solutions.
When we talk about the cloud or cloud solutions, AWS comes to mind for most.
“The pace of social change is sparking new ideas as we see in the minds of Filipino entrepreneurs and cloud technology is enabling founders to bring these ideas to life. At AWS we say that we are builders and invention is at our DNA in Amazon. It has never been easier to build a startup than it is right now. Cloud is the best way to build startups,” according to Digbijoy Shukla, Business Development Lead, Startup Business Development ASEAN at Amazon Web Services (AWS) during a media roundtable last week.
Using cloud technologies, startups enjoy zero upfront costs to launch their businesses faster. With tools currently provided by AWS, for example, technopreneurs can focus on growing their business rather than spending more time tinkering on infrastructure. Using the cloud promotes innovation as startups can experiment with their ideas without having to invest in expensive hardware like computer servers. AWS can readily provide startups with a framework with operational excellence, security, reliability, performance efficiency, and cost optimization.
Among the industries being transformed by startups during this pandemic are Healthtech, FinTech, and eCommerce added by Shukla.
AWS Activate Supporting Filipino Startups
AWS Activate provides startups with a suite of benefits to include up to US$100,000 of AWS credits, AWS support plan credits, and training to help them grow their businesses. The benefits provided by AWS Activate are designed to give entrepreneurs the right mix of tools and expert support for them to succeed with AWS while optimizing performance, managing risk, and keeping costs under control.
In the Philippines, Zagana and PayMongo are two of the startups that received the aforementioned benefits from AWS Activate.
Zagana is an online platform for fresh vegetables and fruits direct from our local farmers here in the Philippines, while PayMongo provides businesses of all sizes with an online payment platform to accept credit cards and eWallets with zero setup fee. During the onset of the pandemic, PayMongo helped many non-profit and religious organizations set up their donation webpages free of charge.
If you are thinking of kickstarting your startup or already have one, you may know more about and apply for AWS Activate via their website https://aws.amazon.com/activate/.