Budget Expectations: startups want easy access to funds, streamlining of norms
India’s booming startup ecosystem, a key driver of digitalisation, has high expectations rom the upcoming Union Budget. In the recent past, the Budget... Key Points
The Tribune India‘Governance creates value in long run, not branding’
Discover why governance plays a crucial role in creating long-term value for startups over branding. Learn from India's G20 Sherpa Amitabh Kant's insights at the Startup Mahakumbh event. Key Points
Times Of IndiaDeep tech startup policy in final stages, says secy
Discover the latest updates on the final stages of the deep tech startup policy by the government. Get insights from Secretary Rajesh Kumar Singh at the DPIIT. Key Points
Times Of IndiaPM Modi says he works towards deadlines, not headlines , highlights initiatives media rarely covers
PM Modi, in a speech at the India Today Conclave, emphasized working for deadlines, not headlines, setting the tone for a potential third term. He highlighted lesser-known welfare initiatives like MUDRA Yojana and PM-SWANidhi, supporting startups and providing loans to small-scale enterprises and street vendors. He praised the growth of startups across 600 districts, noting the entrepreneurial spirit in small towns. Modi took a dig at the Congress, suggesting they are forced to talk about startups now despite neglecting them earlier. Key Points
Economic TimesIndia's more than 6,000 women-led startups remain unfunded: Tracxn
India's startup ecosystem faces gender biases with over 6,000 unfunded companies led by female founders. Female-founded startups in India have raised over $23.3 billion, but only 2,300 have received funding. VC funding for female-owned startups decreased by 75% in the past three years. Key Points
mint
Fat tech pay cheques shedup to 40% as slowdown bites
Salary offers for IT professionals have dropped 30-40% due to global macroeconomic headwinds and IT sector slowdown. Big tech companies rationalized their workforce, leading to lower pay packets. Early-stage startups are hiring CXOs and senior tech talent at realistic salaries, including variables in the compensation. Michael Page India is helping startups, including an edtech firm, with tech hiring. Key Points
Economic Times'Government will try to back startups in mobility sectors'
India Business News: Discover how the government plans to back startups in the mobility sectors, including a payment security mechanism for electric buses and resolving financing issues for electric vehicles. Learn more about the role of larger companies in funding startups in the automobile sector. Key Points
Times Of IndiaInvestors flock to small town 'desi' startups as funding surges. Here's why VCs are going beyond metros
Investors are increasingly turning their attention towards small-town startups in India, with 90% of startups in 2023 emerging from Tier-II and Tier-III cities. These startups received around 22% of the total funding, and 44% of investors have made investments in these cities. Key Points
mint‘Startups get HNI, UHNI funding lifeline’
India Business News: Discover how high networth individuals (HNIs) and UHNIs are providing a lifeline to Indian startups amid funding challenges. Learn about their investment preferences and strategies in the LetsVenture report. Key Points
Times Of IndiaThe AI-ceberg of innovations: Meet AI-first startups shaping India's tech future
Over the last 12 months, a new generation of AI-driven companies and generative AI tooling startups have attracted investments, but this represents only a small percentage of the companies driving innovation in this space. Under the surface lies vast, untapped potential for more. Key Points
Economic Times
Budget 2024: Can interim budget make new kids, aka startups, happy?
Union Budget: The startup community has faced funding woes and layoffs through 2023. Over 28,000 jobs were cut in new-age firms amidst a $8.8 billion funding low. Past government schemes like Startup India aimed at aiding startups. startups anticipate the interim budget for relief, seeking tax reforms and incentives for growth amid the challenging climate. Key Points
Economic TimesAngel Tax: No assessment of startups registered with DPIIT
This means startups registered by the DPIIT Start-ups will not face tax verification on account of angel taxation in case they are picked up for scrutiny. There are 99,380 startups recognised by the DPIIT. Besides, in cases where proceedings are auto generated, contentions of such recognised startup companies on the issues will be summarily accepted . Key Points
Economic TimesFocus: US space startups' latest struggles marked by layoffs, shake-ups
U.S. space startups have slashed workforces and restructured operations to survive amid an investment drought that has grounded once-lofty aspirations. Key Points
ReutersSam Altman clarifies amid furore over 'India's ChatGPT attempt is hopeless' remark
Sam Altman, has sparked debate after calling India's attempt to create an AI tool like ChatGPT ‘hopeless’. He suggested it would be a challenging endeavour and that replicating ChatGPT would be impossible to challenge OpenAI. Altman later clarified that his comments had been taken out of context. Key Points
mintG20 to set norms to define startups
G-20 member countries plan to establish a common framework to define startups next month. This framework, which seeks to create a global startup ecosystem that would work together, will be discussed on June 3-4 in Goa during a meeting of the Startup20 Engagement Group. Various task forces within the group are working on different issues concerning startups, including the establishment of a startup definition framework, unlocking financing of startups, promoting cooperation between key stakeholders, focusing on marginalised groups and determining which startups are willing to be measured by sustainable development goals. Key Points
Economic Times
Why are Indian startups imploding?
By some estimates, 92 companies in the sector have laid off over 25,000 employees since the beginning of the year. Many that had planned to go public have postponed their offers and lowered their expectations of how much they hope to raise. Key Points
Financialexpress‘The great return’ is on as the allure of startups fades
Executives who quit established firms to join startups are returning, accepting similar or even reduced salaries as they choose job security over the prospects of fledgling startups. The shift in sentiment follows the financial difficulties faced by startups, particularly those in edtech and fintech, as well as widespread layoffs affecting more than 20,000 employees in the past year. While most returning junior and middle-level executives have secured positions at larger firms, senior executives face a more challenging task as opportunities at this level are more limited. Key Points
mintPhonePe’s ecommerce app Pincode goes live; funding in Indian startups may temporarily pause: RBI
Fintech major PhonePe has thrown its hat in the Open Network for Digital Commerce (ONDC) ring by announcing the launch of its ecommerce app Pincode, built on top of the government-backed platform. This and more in todays ETtech Top 5. Key Points
Economic TimesStuck between choosing a startup or a corporate job to start your career? Read this before making choice
The decision between working for a startup and an established company has a significant impact on the next few years of a GenZ's life. startups prioritize employee comfort, offer a plethora of opportunities, and allow for personal growth, but insecurity, low pay, and long work hours are factors to consider. Key Points
Economic TimesNew opportunities: iAngels aims to invest in 100 startups this year
Cumulatively, iAngels has funded 76 startups. Some of the prominent companies in iAngels’ portfolio are Paymart, Janitri, SustainKart, Rare Planet, Matter, Stage, says Singh. Key Points
Financialexpress
SVB failure impact; Can NBFCs be the friend in need for cockroach startups?
SVB was the largest lender to some of the biggest names in the tech sector, unicorns, and other startups. Its fallout during the time when funding winter has intensified comes as a drawback for these startups. Cockroach startups come into focus! Key Points
mintstartups with good business models will continue to attract money: Amitabh Kant
Amitabh Kant also said that the market for Indian startups is not just the 1.4 billion people of India, but the next 4-5 billion people of the world entering the middle class . Key Points
Economic Times