Indian Startups
Indian startups take 5 yrs to scale from zero to $100 mn
With the ecosystem maturing in the last decade, the time taken to reach the $100 million mark has decreased significantly. What took 18 years in 2000 to reach $100 million revenue has come down to five years, according to data by Redseer Strategy Consultants. There are about 100 unicorns and 170 soonicorns in India. Of these 270 shining stars, 40+ startups in FinTech, eCommerce, and logistics have crossed $100 million revenue as of FY22.
Indian tech industry hired 380K freshers in FY22, Gen Z keen to join: Nasscom
According to the findings, significant fresher hiring over the last few years in the tech Industry has pushed the share of Gen Z to 18-20 per cent and millennials to 68-70 per cent of total employee base in FY22. In fact, 79 per cent of Gen Z are willing to spend more than two years in their first job, provided employers give them the right value proposition, said the Nasscom survey with job website Indeed.
Be prepared against tariff walls on exports by nations undergoing green transition: FM to industry
"Many nations want to fund their green transition and are imposing tariff walls on products from other nations. If we export steel to such places, it is likely to face this tariff wall or tax for green transition. Indian industry needs to reset itself accordingly," she said while addressing the industry body FICCI's annual general meeting (AGM).
Indian startups see huge 35% drop in funding, edtech among worst performers
The significant drop in funding is attributed to a decline in late-stage investments, which fell by 45 per cent from $29.3 billion in January-November 2021 to $16.1 billion for the same period this year, according to data provided by Tracxn, a leading global market intelligence platform. Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year.
New PDP Bill to bolster India's narrative as a trusted global partner: Nasscom
In the meeting, attended by Alkesh Kumar Sharma, Secretary MeitY, along with startups and small and medium enterprises (SMEs), provided their initial feedback and suggestions on the bill to the IT Minister last week. Vaishnaw said that as the PDP Bill gets finalised, on cross-border data flows, the government will ensure that the approach focusses on strengthening data protection without disrupting data flows.
InvITs an invitation for long-term economic growth, say experts
In a short span of time, they have emerged as among the most preferred instruments of investment, offering high fixed returns. Experts, in fact, are of the view that InvITs are going to be crucial for long-term growth of the economy. InvITs consist of four elements, namely a trustee, sponsor(s), investment manager and a project manager.
Indian startup winner of 1 million-pound Earthshot Prize
Prince William and The Earthshot Prize revealed in Boston on Friday the 2022 winners -- an accomplished group of entrepreneurs and innovators spearheading groundbreaking solutions to repair and regenerate the planet. Each winner was awarded a 1 million pound prize at the second-annual Earthshot Prize awards ceremony, which will be broadcast Sunday on the BBC.
Indian startups must brace for a long funding winter: Flipkart CEO
“This is going to be tough next year. My estimate is that a lot of startup founders will hit the market between April to June next year, and that’s the moment of truth for the ecosystem,” Krishnamurthy said during an event organised by The Economic Times. Krishnamurthy told the gathering that startup founders should embrace a down-round and restructure their firms.
Games24x7 Ventures' launched to invest in early-stage start-ups
"With over 100 unicorns, India has the 3rd largest digital-first start-up ecosystem behind the US and China. We believe that we are very well positioned to support early-stage companies beyond just capital," Trivikraman Thampy, Co-Founder, and Co-CEO, Games24x7 said in a statement.
Committed to transparency, cooperating with govt authorities: MG Motor India
According to Bloomberg, "the probe against the local unit of the Chinese carmaker SAIC Motor has been initiated by India's Ministry of Corporate Affairs". "The company's top management, including directors, managing director and auditors have been summoneda by the ministry seeking more clarification, the people said," according to the report.
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