THE year 2023 was anticipated as a period for businesses to bounce back from the Covid-19 pandemic, with health restrictions lifted and more economies open. However, startups faced significant challenges during this time.

In particular, startups in Southeast Asia (SEA) have been inundated with pressure for growth, profitability and resilience. It was especially rocky for them in 2023, when the funding climate was less than favorable for them, according to a Google-led study.

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