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Layoffs to make India startups more cash-conservative, growth focused in 2023
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IANS | 12 Jan, 2022
Keeping
layoffs amid the funding winter in mind, startups being created in 2023
in India will have a more cash-conservative attitude and will be
revenue and growth-focused, a report showed on Thursday.
The
report by 100X.VC, a homegrown venture fund investing in early-stage
startups, said that due to layoffs at some large corporations,
well-funded startups now have access to a new pool of brilliant people.
"In
2023, we will be experiencing India where new startups will be
unlimited in supply. For investors, this will have brutal investment
selection through the process of elimination," said Sanjay Mehta,
Founder & Partner, 100X.VC.
Investors, who can apply quality
filters while investing in 2023 will be able to see their portfolio
shine with outlier returns by 2030, he added.
The early-stage startup funding momentum in India continues in an accelerated mode.
According
to the report, the enterprise software market is highly competitive,
but startups can enter the market and compete with the established
companies.
"They can offer innovative and differentiated products
and services in logistics, analytics, expense management,
collaboration, RPA, API platform etc.," the report said.
Quick
service restaurants (QSR) business is growing at a fast pace in India
and is outpacing most of the sectors for investments.
The segment will witness significant growth with better investment flow, the report mentioned.
India's
e-commerce industry is expected to reach $200 billion in size by 2026,
driven by increasing internet penetration and the proliferation of
smartphones.
"It is a significant opportunity for D2C brands to
reach and sell to consumers directly online. In 2023, many digital-first
direct-to-consumer (D2C) startups will compete with the famous names,"
the findings showed.
The electric vehicle (EV) market for
startups is growing. Startups are working on various technologies,
including advanced battery technologies, charging infrastructure, EV
components, and self-driving technology.
The EV market in India is expected to create 10 million direct jobs by 2030 along with 50 million indirect jobs in the sector.
The
digital health industry in India is expanding with the adoption of
digital technologies in the healthcare sector, the report mentioned.
Future
trends include the growth of telemedicine, the implementation of
artificial intelligence and machine learning, personalised medicine, the
widespread use of wearable and remote monitoring devices, the
integration of digital health technologies into traditional healthcare
systems, and the role of governments.
100X.VC is India's first
venture fund to invest in early-stage startups using iSAFE (India Simple
Agreement for Future Equity) notes.
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