Page 3 - Indian Start-ups

Don't depend on govt procurement, explore domestic, export markets: Kant

India's G-20 sherpa Amitabh Kant on Wednesday asked startups not to get "dependent" on government procurements but instead focus on the opportunities presented by the domestic and export markets. Speaking at a youth conference organised by IMC Chamber of Commerce, Kant also asked men to change their attitudes towards women and transfer wealth in the name of women to address the issue of gender disparity. Both the Union and many state governments have a positive outlook on helping startups on procurements from startups. The government e-marketplace (GEM) has a dedicated 'startup runway' showcasing startups' offerings, while there in many cases, there are relaxations in rules to accommodate buying from startups. "I am personally against governments getting into too much of startups...the dynamism of startups should be in the marketplace. the startups should not get themselves too dependent on govt procurement," Kant said. He said the startups should focus on the large domestic market

Turmoil at Byju's highlights hurdles for India's startup ecosystem

Already stuck in a 15-month funding slump, India's young companies are in danger of becoming collateral damage to the country's highest-profile startup crisis in years

Financial irregularities, tough market: What went wrong at Mojocare?

In a joint statement, Mojocare's major investors alleged that they have 'uncovered financial irregularities" in the health and wellness start-up

Climate tech push: EV start-ups set to power India's next unicorn club

Corner a hefty chunk of investments despite ongoing funding winter; at present, Ola is the only unicorn among 970 homegrown enterprises in the EV space

Meesho's valuation slashed 10% to $4.4 billion by Fidelity Investments

Fidelity holds stakes in the e-commerce firm through multiple funds

Top headlines: Meta layoffs, angel tax exemption, new Parliament & more

Business Standard brings you top news at this hour

Indian start-ups distance themselves from IAMAI, call it 'pro-Big Tech'

Say the association is led by executives of tech majors and favours these firms

Google's move to make app makers use its new billing system faces backlash

Google now requires all in-app payments to go via its payment gateway under the new billing policy

Once booming, Indian start-ups set for more pain as funding crunch worsens

"Indian startups are not catering to a billion consumers. All of them are selling to the same 100 million"

FinMin, RBI to depose on impact of global crisis on startup ecosystem

This Standing Committee for Finance chaired by BJP MP Jayant Sinha has also called representatives of 'The Indian Private Equity and Venture Capital Association (IVCA)' to discuss the matter on Monday

Four in every five early-stage start-ups in India want to hire more in 2023

15.79 per cent of these start-ups want to keep their headcount unchanged: FICCI - Randstad Start-up Hiring Trends Survey

How Indian tech cos banded together to help each other during SVB crisis

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

IFSCA committee to explore ways to bring home Indian start-ups

The terms of reference for the committee include measures required to encourage the Indian fintech and startups domiciled abroad to relocate to GIFT IFSC

Indian startups have deposits of about $1 bn in SVB: Deputy IT minister

Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead

RoC to check GoMechanic's books amid allegations of irregularities: Report

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with directions from the Ministry of Corporate Affairs (MCA)

Served fair: Zomato, Swiggy cap password sharing for loyalty schemes

Members will be able to use their accounts only on two devices as companies aim to plug misuse

Indian startups fired 6,000 employees in third quarter, says report

This can be attributed to investors lowering funding amid high volatility in global markets

Frostbite amid funding winter for start-ups: Experts rue angel tax

Industry watchers believe that early-stage start-ups will bear most of the brunt, as the segment witnesses comparatively higher deviation in allotted share prices and FMV

China saw the steepest fall in funding activity among global peers in 2022

India saw the second-highest fall in funding activity, down 33 per cent in 2022 from 2021, says Tracxn

Indian startups brace themselves for deepening funding winter in 2023

Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 bn in 2021 to $24.7-- are bracing themselves for a deepening funding winter in 2023 as recession fears loom