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Funding winter or not, startups loosen purse strings to reward top talent

Economic Times

Economic Times · 1y ago

Funding winter or not, startups loosen purse strings to reward top talent

Indian startups are increasingly rewarding and retaining key talent with high increments, stock options, performance-related bonuses, non-monetary incentives, and accelerated promotion tracks. Companies such as UpGrad, Plum, Simplilearn, Eruditus, Shiprocket, Urban Company, CashKaro, and Simpl are focusing on rewarding top performers amidst a shift towards profitability in the wake of funding challenges. Startups are implementing a differentiated approach to appraisals, disproportionately rewarding high performers and retaining top talent through long-term incentives and career development opportunities. While overall sector hikes may be lower, top performers can expect significant rewards.

Related News

LPs commit record sum to Indian PE-VC funds last quarter

VCCircle

VCCircle · 1y ago

LPs commit record sum to Indian PE-VC funds last quarter

In the last quarter, limited partners (LPs) made a record amount of fresh commitments to Indian private equity, private credit, and venture capital funds. After taking a break earlier in the year, the LPs returned with enthusiasm and opened their purse strings. This surge in commitments reflects the growing investor interest in the Indian market.

Open, Honest Chat Must To Fix Governance Issues: Ankur Capital

Inc42 · 1y ago

Open, Honest Chat Must To Fix Governance Issues: Ankur Capital

Investment director at Ankur Capital, Shiv Shanker, emphasises the need for open and honest communication between founders and investors to tackle corporate governance issues at Indian startups. He urges early-stage founders to disclose critical governance-related issues to their investors, while also advising investors to be rational and supportive rather than resorting to heavy-handed measures. Shanker suggests a more structured approach for investors, including dynamic strategy meetings and prompt communication, to ensure startups find their footing and adhere to defined key performance indicators. The tightening of purse strings and increased scrutiny by investors are responses to recent governance issues that have eroded trust in startups.

LP commitments to Indian PE, VC and private credit funds cross $120 bn

VCCircle

VCCircle · 10m ago

LP commitments to Indian PE, VC and private credit funds cross $120 bn

Limited partners (LPs) have made commitments to Indian private equity, venture capital, and private credit funds, with the total amount crossing $120 billion. However, after reaching a record high at the end of 2023, LPs tightened their purse strings in the first quarter of 2024, with fresh commitments hitting a four-quarter low of Rs 24,380.

Beverage startup Teaboy rewards top executives with Hyundai cars for their loyalty

Money Control

Money Control · 1y ago

Beverage startup Teaboy rewards top executives with Hyundai cars for their loyalty

Beverage startup Teaboy has rewarded its top executives with Hyundai cars as a gesture of appreciation for their loyalty, as reported by Moneycontrol. The move aims to recognize and retain key talent within the organization. However, further details about the number of executives rewarded or the specific criteria for the loyalty-based reward were not provided in the summary. Teaboy CEO and founder Joseph Rajesh said the three employees joined him in 2019 for developing the startup in 2019, which now has 410 outlets.

Top Indian unicorns continue to add talent despite funding, growth challenges

Economic Times

Economic Times · 1y ago

Top Indian unicorns continue to add talent despite funding, growth challenges

Despite facing funding challenges and a slowdown in the startup sector, top Indian unicorn startups have continued to hire talent. Data from the top 15 unicorns showed that although they let go of 33,000 employees over the past year, they also hired 58,000, resulting in a net headcount growth of 25,000. This reflects the resilience and attractiveness of these startups among talent. Furthermore, the analysis revealed that there was a significant lateral exchange of talent within the top 15 unicorns. Despite the challenging environment, these startups have managed to retain and attract talent, showcasing their ability to navigate through tough times.

Startup funding winter takes a toll on vendors

Livemint

Livemint · 1y ago

Startup funding winter takes a toll on vendors

Indian startups such as Byju's, Dunzo, and others are facing disputes with vendors over delayed payments, potentially due to financial constraints. The startups argue that vendors have deviated from contract terms or there are contractual disagreements, while vendors claim that startups are disputing invoices, questioning pending payments, seeking discounts, or becoming unresponsive. As funding becomes scarcer during the funding winter, payment delays and defaults by startups have increased. Vendors can take legal action, including issuing notices, filing civil suits, and even initiating insolvency proceedings, to recover their dues.

Why Hard Startups Win: Sam Altman on Tackling Big Challenges

Internet

Internet · 3m ago

Why Hard Startups Win: Sam Altman on Tackling Big Challenges

In this blog post, Hard Startups, Sam Altman argues that building a difficult startup can be more rewarding than pursuing an easy one. Hard startups often attract more talent, funding, and support because they tackle significant challenges. He encourages founders to think big, commit long-term, and leverage ambitious goals to recruit top talent. Go to the source to read more.

Stashfin grants ESOPs of up to Rs 5 L to employees

YourStory

YourStory · 6m ago

Stashfin grants ESOPs of up to Rs 5 L to employees

Stashfin, a financial services platform, has granted ESOPs to its employees from a Rs 600 crore pool. Employees with five years of service receive Rs 5 lakh worth of ESOPs, while those with three years receive Rs 3 lakh. This initiative aims to reward and retain talent. ESOPs can unlock through events like IPOs or acquisitions. Founded in 2016, Stashfin has raised over Rs 6000 crore from investors like Tencent. The move aligns with a trend among Indian startups.

Here’s the list of India’s 10 highest funded startups of 2023

Inc42 · 1y ago

Here’s the list of India’s 10 highest funded startups of 2023

India's startup ecosystem witnessed a 75% decline in funding in Q1 2023, continuing the prolonged funding winter. Only one unicorn was minted in 2023 compared to 21 in 2022 and 44 in 2021. Despite the challenges, some startups managed to secure significant funding deals. The top 10 highest-funded startups of 2023 include PhonePe ($850M), Lenskart ($600M), DMI Finance ($447M), Ola Electric ($384M), Builder.ai ($250M), InsuranceDekho ($210M), Perfios ($229M), Zepto ($200M), Zetwerk ($120M), and Mintifi ($110M). These investments will support various sectors such as fintech, e-commerce, and manufacturing in their growth plans.

Valuation Markdowns: 8 Indian unicorns that faced investors' wrath in 2023

Inc42 · 1y ago

Valuation Markdowns: 8 Indian unicorns that faced investors' wrath in 2023

In 2023, several top Indian startups, including BYJU'S, Meesho, and PharmEasy, faced valuation markdowns by their investors due to a slowdown in business and the funding winter. Investors such as BlackRock, Prosus, Baron Capital, Neuberger Berman, Janus Henderson, and Fidelity Investments slashed the valuations of these unicorns on their books. These markdowns have the potential to create a ripple effect on the startup ecosystem.

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