One of the world’s leading technology company Google has announced that it will invest an amount of 75 million US dollars in the start-ups founded and directed by women in India on Monday, 19th December 2022. The announcement is made by the Chief Executive Officer of the Tech giant, Mr. Sundar Pichai at the beginning of his visit to India.
The CEO of Google Mr Sundar Pichai said that the country has the strength to be an enormous export economy. Thus, it needs to generate an equilibrium between the citizen’s safeguarding and allowing the companies to innovate its framework.
About Google’s investment in Women-Empowered Start Ups
Concerning the investments to be provided in the women-directed firms of India the Google CEO said that the company has declared that a sum of 300 million US dollars have been withdrawn from the Google for India Digitisation Fund for Indian Start Ups of 10 billion US dollars.
He further added that out of the 300 Million US dollars, one-fourth or a quarter amount of the fund which is equal to 75 million US dollars will be dedicated to women-empowered start-ups in India. He also mentioned that the company is working on developing voice and text search enabling in 100 different languages.
The CEO of Google initially met the Minister of Telecommunication and Information Technology Ashwini Vaishnaw before inviting the Prime Minister of the Country Narendra Modi to the Google for India 2022 event.
However, the details of the discussions made in the meeting were not disclosed, but Mr Sundar Pichai had said before the meeting that he would be discussing backing the small-scale start-ups and businesses of India, Incorporation of the Artificial Intelligence technology to the business based on health care and agriculture, facilitating education and providing training in skills and also about investing in the cyber security.
Out of the country’s top 100 unicorns, only 15 unicorns have a woman as a founder and the women empowered start ups have secured a sum of 11.34 billion US dollars in a span of 8 years from the year 2014 to November 2022.
Google’s Other Initiative Taken for Women-Empowered Start Ups
In October this year, the Tech giant declared a cohort-based start up program for the women–empowered start-ups of India, the Google for Start ups Accelerator Women Founders.
The technology company backed 20 selected start-ups in pre-seeding to series A funding without charging for any equity or on boarding charges.
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