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New research from Center for Financial Inclusion at Accion reveals digital technologies are fueling micro and small business growth in emerging markets

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Survey of over 20,000 micro and small businesses in five major cities shows digital tools are driving sales and improved productivity, but flexible financial services needed to strengthen businesses’ financial health

WASHINGTON, April 24, 2025 /PRNewswire/ — New research from the Center for Financial Inclusion (CFI) at Accion released today reveals that MSEs adopting digital tools are up to 10% more likely to report revenue growth, but usage of these tools remains low. CFI’s report provides the clearest picture yet of the challenges and opportunities that determine the business trajectory of micro and small enterprises (MSEs) in five rapidly changing emerging markets.

The survey of MSEs across Addis Ababa, Delhi, Jakarta, Lagos, and São Paulo revealed digital products and services offered opportunities for growth and greater efficiencies, while highlighting resource constraints, consumer protection risks, and heightened vulnerability to economic and climate shocks, as challenges faced by the businesses.

Key findings from the study include:

MSEs adopting digital tools were up to 10% more likely to report revenue growth, but usage of these tools remained low. In Addis Ababa, more than half of MSEs reported using no digital technology applications. MSEs in Delhi, Jakarta, and Lagos were using at least one digital tool.Entrepreneurs across the 5 cities reported using an average of 1.8 to 5 formal financial services, reflecting diverse levels of adoption and engagement with financial tools. Businesses that integrated digital payments reported significantly higher revenue per employee.Women entrepreneurs represented 70% of MSE owners in Jakarta, but just 11% in Delhi, with figures of 35% in São Paulo, 43% in Addis Ababa, and 53% in Lagos. In many markets, MSEs are not started by choice but as a response to unemployment, making the businesses more vulnerable and reducing long-term resilience, which has implications for financial service design.1 in 3 micro and small businesses reported being impacted by drought, floods, or other environmental shocks, and less than 20% reported being able to come up with emergency funds within one week. Of those entrepreneurs impacted by an environmental shock, up to 29% said they were more likely to invest in adapting their business to the changing climate.

The study, supported by the Mastercard Center for Inclusive Growth, used Adaptive Cluster Sampling – a research technique that enabled a strong focus on urban areas with high numbers of MSEs. CFI focused on understanding the drivers of financial health for MSEs that represent the largest source of income generation in emerging markets. A total of 20,000 MSEs were surveyed, with 4,000 interviews conducted to build a sample that represents 1.7 million MSEs across the 5 cities.

“Nowadays, small businesses are facing unprecedented threats, from cyberattacks to the economic impact of extreme weather events,” said Payal Dalal, executive vice president of global programs at the Mastercard Center for Inclusive Growth. “The research released by Accion highlights the opportunity to work alongside small businesses to provide solutions that secure them against these challenges; it’s not only about mitigating risks in the digital economy but making sure small businesses have the opportunity to thrive during this increasingly volatile time.”

The research highlighted the importance of access to digital technology and formal financing, but noted resilience was determined by a wider range of factors including personal safety nets, such as savings and informal support systems. Businesses that combined access to credit, savings, and insurance with strong financial literacy were better positioned to manage shocks, and entrepreneurs with higher education levels were more likely to use a mix of different formal financial services, contributing to stronger resilience and improved financial health.

Researchers tracked the use of 10 distinct non-financial and financial digital technologies among MSEs, showing stark differences in adoption. In Addis Ababa, MSEs used an average of only 1.6 digital technologies, largely due to poor internet connectivity. In contrast, Delhi, Jakarta, and Lagos showed wider adoption of digital tools, with messaging apps and social media used widely to engage customers. E-commerce platforms remained under-utilized by MSEs across all cities, emphasizing potential for significant growth when barriers such as digital literacy and access are addressed.

The study also revealed many MSEs are already making small investments to prepare for shocks, such as stocking up on supplies before expected disruptions, investing in backup power sources, or reinforcing physical infrastructure. Yet the same businesses reported low levels of borrowing in response to emergencies, demonstrating that financial services are not structured to support these types of preemptive or recovery-oriented investments. During emergencies, traditional application and approval processes can be disrupted, leaving businesses without timely support, and underscoring the need for disaster-resilient financial services, such as pre-approved credit lines or insurance products that can provide immediate assistance to businesses when they need it most.

Edoardo Totolo, Vice President of Research and Programs at the Center for Financial Inclusion at Accion and lead author of the report, said: “Our research shows when micro and small businesses are connected to the digital economy and a range of financial solutions, they are better equipped to withstand real-world emergencies. Unfortunately, insurance, savings, and responsible credit remain out of reach for many of these businesses that are the engines of their national economies. While the advantages of going digital are clear, policymakers and financial providers must design products tailored to the needs of these vulnerable businesses that they can easily use and trust to ensure advances in technology improve their financial health.” 

About the Center for Financial Inclusion at Accion

The Center for Financial Inclusion (CFI) is an independent think tank that uses rigorous research and advocacy to advance inclusive financial systems for low-income people around the world. We work to advance inclusive financial services for the billions of people who currently lack the financial tools needed to improve their lives and prosper. We leverage partnerships to conduct rigorous research and test promising solutions and advocate for evidence-based change. CFI was founded by Accion in 2008 as an independent think tank on inclusive finance. More at https://www.centerforfinancialinclusion.org  

About Accion 

Accion is a global nonprofit on a mission to create a fair and inclusive economy for the nearly two billion people who are failed by the global financial system. We develop and scale responsible digital financial solutions for small business owners, smallholder farmers, and women, so they can make informed decisions and improve their lives. Through targeted investment strategies, advisory solutions, and expert thought leadership, we work with local partners to develop and scale cheaper, more accessible, and customer-friendly financial solutions. Since 1961, Accion has helped build 267 financial service providers serving low-income clients in 75 countries, reaching 440 million people. More at https://www.accion.org

About the Mastercard Center for Inclusive Growth  

The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.

View original content:https://www.prnewswire.com/news-releases/new-research-from-center-for-financial-inclusion-at-accion-reveals-digital-technologies-are-fueling-micro-and-small-business-growth-in-emerging-markets-302436483.html

SOURCE The Center for Financial Inclusion at Accion

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ACEC California Awards More Than $100,000 in Scholarships to Engineering and Land Surveying Students

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SACRAMENTO, Calif., May 4, 2026 /PRNewswire/ — The American Council of Engineering Companies of California (ACEC California) has announced the recipients of its 2026 Scholarship Program, awarding a total of $102,500 to 14 students, including six graduate students and eight undergraduates, pursuing degrees in engineering and land surveying at colleges and universities throughout California.

Administered by the ACEC California Scholarship Foundation, the annual program supports accomplished undergraduate and graduate students preparing for careers in engineering and land surveying. In addition to scholarships awarded by ACEC California, students may also receive accompanying funds through the ACEC national organization and local ACEC California chapters.

“I commend the American Council of Engineering Companies of California for its investment in students that helps strengthen California’s infrastructure and engineering workforce,” said Senator Dave Cortese (D-San Jose). “These scholarships expand access to the education and training needed for students to pursue meaningful careers in engineering and land surveying related fields. California’s future depends on a strong pipeline of skilled professionals, and programs like this ensure our communities will benefit from their expertise for decades to come. I commend San Jose State University student, and Senate District 15 resident, Thao Huynh, along with all recipients of this prestigious scholarship program.”

The 2026 scholarship recipients reflect a strong combination of academic achievement and real‑world experience, pairing rigorous coursework with internships, professional employment, applied research and leadership roles in student and industry organizations. The group also represents the diverse pathways into today’s engineering and land surveying professions, including first‑generation college students, veterans, and professionals returning to school to advance their careers.

“ACEC California is honored to recognize these exceptional students who represent the future of our industry,” said Tyler Munzing, executive director of ACEC California. “As our state continues to prioritize the modernization of our critical infrastructure, investing in the next generation of engineers and land surveyors has never been more vital. We are proud to support these dedicated individuals as they prepare to lead California toward a more innovative and efficient future.”

More than 150 applications were reviewed by the ACEC California Scholarship Foundation’s volunteer Board of Trustees, chaired by Chris Diaz of Diaz•Yourman & Associates. Trustees include Donald Blackburn of Blackburn Consulting; Jeff Gavazza of KPFF Consulting Engineers; Michael Jaeger of Tanner Pacific; Henry Liang of MKN, an Ardurra Company; Jane Rozga of GHD; and Aundrea Tirapelle of Psomas.

Scholarship funds will be distributed to recipients at the beginning of the fall 2026 semester.

2026-27 Scholarship Foundation Award Recipients

Todd Allen-Gifford, Stanford University, pursuing a master’s in structural engineering and construction engineering.Owen Daulton, Loyola Marymount University, pursuing a master’s in mechanical engineering.Thao Huynh, San Jose State University, pursuing a bachelor’s in software engineering.Caden Kakoschke, California State University, Long Beach, pursuing a bachelor’s in mechanical engineering and naval architecture and marine engineering.Gaurav Kumar, University of California, Los Angeles, pursuing a bachelor’s in computer engineering.Grace Murphy, California Polytechnic State University, San Luis Obispo, pursuing a bachelor’s in mechanical engineering.Carlos Navea, San Diego State University, pursuing a master’s in civil engineering and structural engineering.Ryan Nguyen, California Polytechnic State University, Pomona, pursuing a master’s in civil engineering.Jacey Niiya, Stanford University, pursuing a master’s in structural engineering.Peter Otoshi, California Polytechnic State University, Pomona, pursuing a bachelor’s in civil engineering.Emily Petersen, California State University, Fresno, pursuing a bachelor’s in surveying and geomatics engineering technology.Paisley Tabor, Stanford University, pursuing a bachelor’s in mechanical engineering.Victor Vega, University of the Pacific, pursuing a bachelor’s in civil engineering and structural engineering.Zenia Zipp, California State University, Fresno, pursuing a master’s in civil engineering and surveying and geomatics engineering.

Learn more about the ACEC California Scholarship Foundation program and the awarded students at www.acec-ca.org/scholarship.

ACEC California represents over 1,000 engineering and land surveying firm offices and nearly 25,000 professionals who are involved in all aspects of the design, construction, and repair of California’s residential, commercial, industrial, and public works infrastructure.

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SOURCE American Council of Engineering Companies, California

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HDT Conducts Hunter WOLF Training with 10th Mountain Division

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Second training event in one month highlights continued Army engagement, evaluation

FREDERICKSBURG, Va., May 4, 2026 /PRNewswire/ — HDT Robotics is conducting a new round of training and evaluation activities with Hunter WOLF unmanned ground vehicles (UGVs) at Fort Polk, Louisiana, with soldiers from the U.S. Army’s 10th Mountain Division.

The Hunter WOLF is a robotic multi-mission unmanned ground vehicle designed to reduce workload, extend operational duration, and keep soldiers in the field longer, with less fatigue and at safer distances. Built specifically for military operations, it delivers mobility, payload, and power in a compact system, engineered to perform in demanding environments where commercial vehicles fail.  

“The Hunter WOLF is a proven platform that’s ready to support operations today. It’s not a concept still in development like other options,” said Tom Van Doren, President, Robotics Sector at HDT Robotics. “Training directly with units like the 10th Mountain Division ensures the system continues to meet operational requirements and provides a dependable solution the military can confidently deploy.”

The training event will provide hands-on experience for soldiers in one of the Army’s elite light infantry units, known for rapid deployment and operations in complex, extreme environments, including mountainous and cold-weather conditions. During the event, soldiers will operate and evaluate the Hunter WOLF in real-world scenarios, gaining experience in system operation, mission integration, and sustainment across a range of mission tasks.

“Training events like this show how adaptable the Hunter WOLF’s modular design is across different mission requirements,” said John Conway, VP of Business Development, Robotics at HDT Robotics. “Soldiers are able to configure it quickly and apply it to operational tasks without adding complexity.”

During training, soldiers will operate Hunter WOLF vehicles configured for communications, sustainment, support, and employment of equipment normally too heavy for dismounted units to transport, such as loitering munitions. These configurations include:

Two Vehicle-mounted Tactical Radios (AN/VRC-158)Five Universal Battery Chargers (UBC)60-gallon Water Purification SystemsCasualty Evacuation (CASEVAC)15kW Mobile Power Export (120/240VAC inverter offload)Extended Cargo Rails for Equipment Transport

The training marks the second Hunter WOLF event conducted with the Army in the past month, reinforcing HDT’s commitment to delivering proven, field-ready robotic platforms that enhance operations while prioritizing soldier safety.

About HDT Robotics: HDT develops rugged, modular robotic systems to perform tasks in hazardous and demanding environments. Building on a legacy of advanced government and industrial robotics development, the company engineers precision manipulators and mobile platforms that reduce personnel risk while enabling critical operations in expeditionary, contaminated, or unsafe environments. For more information, visit HDTHunterWOLF.com.

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SOURCE HDT Robotics

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Roomba Pioneer Colin Angle Unveils New Venture, Familiar Machines & Magic, Introducing a New Platform for Consumer Physical AI

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After building iRobot into a multi-billion-dollar business and architecting the global consumer robotics industry, Angle launches a new company to build emotionally intelligent robots designed for trust, interaction, and long-term connection.

BOSTON, May 4, 2026 /PRNewswire/ — More than two decades after introducing the Roomba and helping define consumer robotics, Colin Angle is returning with a more ambitious vision: Artificial Life. On stage today at The Wall Street Journal’s Future of Everything conference, Angle unveiled Familiar Machines & Magic, bringing the company out of stealth and introducing Familiars – physically embodied AI systems designed to perceive, adapt, and interact with people in ways that feel natural and consistent.

“The next era of robotics is not just about dexterity or humanoid form – it’s about machines that can build and sustain human connection,” said Colin Angle, cofounder and CEO of Familiar Machines & Magic. “Today, we’re emerging from stealth to share our vision for systems that move beyond task execution and become a natural part of daily life.”

FM&M uses the term “Familiars” to describe emotionally intelligent, physically embodied AI systems that perceive their environment, develop a distinct personality, and respond in ways that learn and evolve through life with the people around them.

Physical AI’s Next Frontier: From Capability to Human Connection
The global race to build Physical AI is on. From humanoid robots promising factory labor to autonomous systems reshaping logistics, tens of billions of dollars are flowing into machines designed to move, lift, sort, and transport. But this is only half the opportunity – the back-end, industrial physical AI opportunity. The other half is consumer-facing, for all of the use cases where robots will interact with humans, and it requires a fundamentally different approach.

Consumer Physical AI demands human connection – the ability to not just perform physical tasks, but to understand, communicate, and respond in ways that feel intuitive and supportive. This opportunity extends across daily life – anywhere people and machines intersect – not just within the home.

Consumer Physical AI outperforms screens in these types of emotional work because people respond more strongly to physical presence. While chatbots are widely used for emotional support, they are often less effective and beneficial for their users.

FM&M is focused on developing Consumer Physical AI systems that deliver this kind of interaction at scale by building Familiars.

The company’s leadership team has already brought consumer robotics to global scale. As leaders behind the Roomba platform at iRobot, they deployed more than fifty million robots into homes worldwide, turning a once-experimental category into a household technology. FM&M also brings together talent from Disney Research, MIT, Amazon, Boston Dynamics, Bose, and Sonos, applying deep experience in robotics, AI, and human-machine interaction to this next frontier.

Bringing Familiars to Life: Meet the First Familiar
During a live conversation with Wall Street Journal Technology columnist Christopher Mims at Future of Everything, Angle introduced the first Familiar – the inaugural system powered by FM&M’s Consumer Physical AI platform.

“iRobot proved that robots could deliver value at scale,” Angle said. “But they were still task machines. My goal has always been to create systems that understand context, remember interactions, and behave with consistency over time. That’s what we’re doing at Familiar Machines & Magic.”

A Familiar is purpose-built for social interaction rather than industrial performance. Its hardware and AI architecture are optimized for expressive, whole-body movement that communicates attention, awareness, and intent without relying on a screen.

The first Familiar is a quadruped, specifically designed for human-robot interaction, with 23 degrees of freedom enabling both lifelike movement and expressive behaviors. The Familiar is covered with a custom touch-sensitive coat, a vision system, and a microphone array and audio system, to support rich interactions. Its onboard edge AI stack is powered by a custom small multimodal model optimized for social reasoning, combining vision, audio, language, and memory to create socially responsive behaviors in real time.

Unlike humanoid robots designed to replicate human form for industrial uses, the Familiar is intentionally designed to be approachable and expressive, with a form factor optimized for interaction in everyday environments. It integrates context, memory, and adaptive behavior to create a consistent presence over time. Familiars are optimized for interaction, for presence, and for everyday use.

Today’s reveal marks FM&M’s emergence from stealth, not a commercial product launch. Specific applications, form factors, and timelines will be shared in future updates.

The Path Forward: The First to Scale Physical AI
The Consumer Physical AI market will not be won by the most impressive demo – but by the system people choose to live with. Familiar Machines & Magic is building a Physical AI platform focused on real-world deployment, measurable value, and responsible scaling.

Unlike cloud-dependent AI systems that rely on continuous data streaming, FM&M’s architecture prioritizes on-device, edge AI to reduce latency and strengthen privacy. The company has also established clear data governance guardrails as it develops systems designed for daily life.

By focusing on systems that can scale broadly, FM&M is building a platform that improves through real-world use rather than speculative demonstrations.

Follow the Journey
Familiar Machines & Magic will share updates, research, and progress as it develops its Familiars platform; this is just the beginning. If you’re curious what life with a Familiar could look like, sign up at familiarmachines.com or follow FM&M on LinkedIn and X.

About Familiar Machines & Magic
Familiar Machines & Magic is pioneering Consumer Physical AI, beginning with Familiars – physically embodied AI systems designed to form long-term, emotionally intelligent relationships with people. The company’s mission is to create artificial life to build a more caring world.

Founded by Colin Angle, cofounder and former CEO of iRobot, FM&M builds on more than three decades of consumer robotics experience. Angle is joined by cofounders Ira Renfrew, Chief People and Product Officer (C2PO), and Dr. Chris Jones, Chief Research and Development Officer (CRDO) – veteran robotics and AI leaders with experience spanning iRobot, Amazon, and other global consumer technology platforms.

Collectively, the founding team has deployed over 50 million consumer robots worldwide and led advances in navigation, machine learning, and human-robot interaction. The broader team brings additional expertise from institutions including Disney Research, MIT, Boston Dynamics, and USC.

With offices in Boston, LA, and Hong Kong, Familiar Machines & Magic is building a long-term platform for Artificial Life in partnership with leading researchers, engineers, and strategic collaborators.

For more information, visit: familiarmachines.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/roomba-pioneer-colin-angle-unveils-new-venture-familiar-machines–magic-introducing-a-new-platform-for-consumer-physical-ai-302761495.html

SOURCE Familiar Machines & Magic

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