Why do you think the prices of smartphones, laptops, tablets, and other electronics are going up? Of course, there are many reasons for that.

One major cause is the global shortage of chips. The COVID-19 pandemic caused industries to slow down chip production and the lockdown caused more people to stick to their devices - causing a surge in global demand for electronics.

India is keying into this opportunity provided by the global shortage of chips by investing $30 billion in the local production of semiconductors in a bid to attract foreign investors and boost its economy. It targets the production of mature ICs usable in foldable smartphones, with a 10% intended global supply capacity in 2030. Maybe this will trigger a fall in the prices of electronics.

In this week's edition, The Draft highlights a $2.85 billion fund to support early-stage startups in Asia, a President appearing in a 3D hologram, a startup raising the largest Series A round to date in Pakistan, as well as other top stories, funding deals, and acquisitions that we tracked across Asia, Africa, and the Middle East.

Enjoy your weekend,

- Juwon

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