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Indian Startups
Immediate action by the government to help Indian startups in the aftermath of Silicon Valley Bank (SVB) collapse ensured they were not adversely impacted by the "minor crisis", Union Minister Ashwini Vaishnaw said on Monday. He also exhorted the entire startup community to think of the Indian banking sector as their trusted partner. Vaishnaw, Minister for IT and Communications, also noted the rapid strides taken by India in areas of Artificial Intelligence (AI) and quantum computing. Speaking at India Global Forum event, the Minister said while there was a time when India was only seen as a consumer of technology, today "many global developers like to have Indian start ups, entrepreneurs and academicians as their partners, as technology gets developed". "... In these two technologies, we would like use of Indian talent for developing solutions for India and for the world," he said. To a question on whether India can produce something equivant to ChatGPT, the Minister said "wait f
Around 18 per cent of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study said on Tuesday. The study conducted by TiE Delhi NCR, research firm Zinnov, Google, NetApp and venture capital firm Indian Angel Network found that despite comparable metrics, success, and high entrepreneurial intent, socio-cultural barriers hinder women founders' growth. "Approximately 18 per cent of India's total unicorns are founded by women, with 20 Potential Unicorns in the pipeline," the study said. The startups that are in the pipeline to become unicorns include WinZO, Doubtnut, Infinity Learn, Locus, Pratilipi, Portea, SirionLabs, etc. Women founded or co-founded start-ups that have already become unicorns include acko, BYJU's Pristyn Care, MyGlamm, MobiKwik, Open etc. The total valuation of unicorn built by women founders stands at over USD 30 billion and total equity investments raised by them is over USD 12 billion. The
The start-up ecosystem is witnessing robust growth and needs a shift in the mindset, a study undertaken by city-based CIEL HR Services said on Tuesday. Women entrepreneurs continue to face challenges with Indian start-ups witnessing dynamic growth, it said. Launched ahead of the International Women's Day 2023, the study was conducted across women representing over 200 companies. The study has stated that women in an entrepreneurial role struggle to raise capital, face lack of professional networks and mentorship. CIEL HR Services managing director Aditya Narayan Mishra in a statement said, "the start-up and entrepreneurship ecosystem in India is witnessing robust growth. When we at CIEL took a closer look at the system with a gender lens, we discovered that with the progress the challenges have also scaled." "What the ecosystem needs immediately is a shift in mindset and that is evident in CIEL's study report. One of the recommendations is to promote entrepreneurship among student