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Biotech startups are crucial to India's future economy: Govt

Inshorts · 2y ago

Biotech startups are crucial to India's future economy: Govt

According to Jitendra Singh, the Minister of State for Science and Technology, biotech startups play a vital role in the Indian economy. He stated that approximately eight to nine years ago, there were only around 50 biotech startups, but now there are approximately 6,000. Additionally, he mentioned that India's bioeconomy, which was valued at around $8 billion in 2014, has witnessed significant growth and now stands at $100 billion. Furthermore, he highlighted that India currently holds the 12th position globally in terms of bioeconomy.

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India’s Strong Economy Has Spurred Reverse Flipping: Govt

Inc42 · 1y ago

India’s Strong Economy Has Spurred Reverse Flipping: Govt

Several homegrown startups that are based overseas are considering shifting their base to India as they prepare for their initial public offerings (IPOs) on Indian stock exchanges. This move comes as the digital economy, coupled with emerging technologies like artificial intelligence (AI), is seen as crucial to India's future growth. Groww has already completed its reverse flip from the US to India in March, and other startups such as Flipkart, Zepto, and Razorpay are also contemplating similar plans.

Banks are stepping up partnerships with startups: Axis Bank’s New Economy Group head Sanjiv Bhatia

Livemint

Livemint · 8m ago

Banks are stepping up partnerships with startups: Axis Bank’s New Economy Group head Sanjiv Bhatia

Private banks in India, such as Axis Bank, are actively working to establish strong relationships with startups by offering various services including credit, technology assistance, and networking. Axis Bank's New Economy Group (NEG) focuses on meeting the banking needs of startups and has become a crucial player in India's startup ecosystem. The bank holds relationships with 67% of Indian unicorns and has a loan book of ₹2,000 crore from startups. While banks are becoming more supportive of startups, their risk appetite remains lower compared to venture debt providers.

TiE Delhi-NCR’s India Internet Day 2025 Celebrates Indicorn Surge; AI, Fintech & More Discussed

OutlookIndia

OutlookIndia · 3m ago

TiE Delhi-NCR’s India Internet Day 2025 Celebrates Indicorn Surge; AI, Fintech & More Discussed

India Internet Day 2025, organized by TiE Delhi-NCR, gathered policymakers, investors, and tech leaders to discuss India's digital future. The event aimed to propel India toward its $1 trillion digital economy target by 2030. Discussions centered around AI, fintech, 5G, and digital public infrastructure. The growing digital economy is projected to account for one-fifth of India's GDP by 2029, with rural internet adoption playing a crucial role in achieving this growth.

Startups Outlook 2024: Rebound likely next year, funding pace to remain slow

Livemint

Livemint · 1y ago

Startups Outlook 2024: Rebound likely next year, funding pace to remain slow

According to a report by GlobalData, Indian startups witnessed a 65.8% drop in funding in 2023. However, experts remain optimistic about the future, citing favorable government policies, India's expanding economy, and ongoing infrastructure developments as factors that position the startup landscape for a brighter future. Despite the current funding winter, there is cautious optimism about a potential rebound in 2024. The emergence of Zombie VCs (Venture Capital) and an increase in tech startups heading towards IPOs are expected trends in the coming year.

Govt plans independent regulator for online gaming

Economic Times

Economic Times · 1y ago

Govt plans independent regulator for online gaming

The Indian Ministry of Electronics and Information Technology (MeitY) is considering the incorporation of an independent regulator for online gaming in India. This comes after the idea of a self-regulatory body was scrapped. The National Law University (NLU) Delhi, in collaboration with the E-Gaming Federation (EGF), is consulting with industry stakeholders to determine the future direction of gaming regulations. Recommendations are expected to be submitted to MeitY after the elections. The online gaming industry in India is seeking regulatory guidelines to address issues such as money laundering and taxation. The sector currently contributes to India's digital economy and has become the largest gaming market globally.

Startups: Key To Economic & Geopolitical Risk Mitigation Through Circularity

Inc42 · 1y ago

Startups: Key To Economic & Geopolitical Risk Mitigation Through Circularity

The growth of renewable energy is driven by advancements in solar and wind technologies available through startup-led markets worldwide. However, most of India's energy still comes from coal, making up 80% of the energy mix. This dependence on coal and limited supply of energy transition materials pose economic and geopolitical risks. Material circularity, achieved through initiatives like battery recycling and repurposing startups, can mitigate these risks and ensure energy security. Various international initiatives are also promoting sustainable practices in the energy sector. Startups are crucial in driving innovation and accelerating the adoption of new technologies in the transition to a circular economy.

IN-SPACe appoints Sidbi Venture Capital to manage Rs 1,000 crore spacetech fund

Economic Times

Economic Times · 5m ago

IN-SPACe appoints Sidbi Venture Capital to manage Rs 1,000 crore spacetech fund

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has appointed Sidbi Venture Capital Limited to manage a Rs 1,000 crore venture capital fund supporting space tech startups in India. Aimed at providing crucial capital, the fund targets 40 startups across the space supply chain over five years. It offers Rs 10-60 crore to startups at different growth stages, with hopes to generate employment, spur R&D, and significantly grow India's space economy within a decade.

Govt rolls out bigger, better CGSS to boost Startup loan access to Rs.20 Cr

YourStory

YourStory · 3m ago

Govt rolls out bigger, better CGSS to boost Startup loan access to Rs.20 Cr

The Government of India has expanded the Credit Guarantee Scheme for Startups (CGSS) to improve credit access for startups, aligning with the Union Budget 2025–26. Key enhancements include raising the guarantee ceiling per borrower from ₹10 crore to ₹20 crore, increasing guarantee coverage, and reducing the Annual Guarantee Fee (AGF) for startups in 27 'Champion Sectors'. These changes aim to reduce lending risk, encourage innovation, and support India's goal of becoming an innovation-driven economy.

Over 3,000 recognised fintech startups operating in India: Government informs Parliament

Economic Times

Economic Times · 2y ago

Over 3,000 recognised fintech startups operating in India: Government informs Parliament

The Indian government has informed Parliament that there are more than 3,000 officially recognized fintech startups operating within the country. These startups are actively engaged in various aspects of financial technology, showcasing the dynamic growth and significance of the fintech sector in India's evolving economy.

Mint Primer: Why India needs to make inroads into deep tech

Livemint

Livemint · 8m ago

Mint Primer: Why India needs to make inroads into deep tech

Deep tech, which encompasses groundbreaking innovations in science and engineering, is gaining momentum globally. In India, while the startup ecosystem has traditionally focused on consumer and internet ventures, a shift is occurring towards deep tech startups. These startups are attracting more capital, with areas such as space tech, biotech, and climate tech witnessing rapid growth. Despite this, India still faces challenges in building a supportive ecosystem, ensuring faster time to market, and closing the funding gap with other countries. Collaboration between academia, government, investors, and companies is crucial for success in the deep tech sector.

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