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Interim Budget: Startups see big opportunity as tourism takes centre stage

Inc42 · 1y ago

Interim Budget: Startups see big opportunity as tourism takes centre stage

Indian startups in the travel, tourism, and hospitality sector are optimistic about expanding their user base and offerings following the Indian government's focus on promoting tourism. Finance Minister Nirmala Sitharaman announced plans to develop tourist centers, improve port connectivity, and enhance amenities on Indian islands. The government has increased the budget for the tourism industry by over 40% to INR 2,449.62 crore for FY25. Startups anticipate a surge in tourist numbers and believe the announcements will unlock India's tourism potential and boost the hospitality sector.

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Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

OutlookIndia

OutlookIndia · 9m ago

Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines

The upcoming Union Budget in India, to be presented by Finance Minister Nirmala Sitharaman, is highly anticipated as it will be the first budget after the general elections. The deep-tech sector received a boost in the previous interim budget, with a significant investment announced for sunrise technology. The Ministry of Commerce and Industry is also considering specialized policies to foster innovation in deep tech startups. The National Deep Tech Startup Policy is in its final stage of consultation. Expectations are high for measures to support AI development and address the need for ethical guidelines and reskilling initiatives in this budget.

New-Age Tech Stocks Rally In Budget Week, Paytm Emerges Biggest Gainer

Inc42 · 1y ago

New-Age Tech Stocks Rally In Budget Week, Paytm Emerges Biggest Gainer

Paytm's stock made a significant surge this week, crossing the INR 500 mark and emerging as the top gainer with a 10.93% increase. Traveltech startups like EaseMyTrip, Yatra, and ixigo also experienced gains after the announcement of initiatives to boost tourism in the budget speech. Additionally, Menhood, a men's grooming brand based in Jaipur, made its debut on the NSE Emerge market.

Unicorn sightings become rare as VCs shun that leap of faith

Economic Times

Economic Times · 1y ago

Unicorn sightings become rare as VCs shun that leap of faith

Early-stage startups are struggling to attract "leap of faith capital" as investors focus on late-stage companies. While early-stage deals are happening, big investors like SoftBank and Tiger Global are more inclined towards established startups and potential IPOs. Only two startups have become unicorns this year, compared to the previous year's total of two. The investment process for new firms is still lengthy, and funding is primarily limited to fast-growing and profitable companies. However, there is optimism that ventures fixing their economics will be able to raise significant capital in the future.

Chiratae Ventures Rolls Out 3rd Cohort Of Its Seed Investment Programme

Inc42 · 1y ago

Chiratae Ventures Rolls Out 3rd Cohort Of Its Seed Investment Programme

Applications for the 2024 edition of Chiratae Sonic are now open. The initiative aims to support early-stage startups in sectors such as deep tech, generative AI, climate tech, and manufacturing tech. These startups have the opportunity to raise up to $2 million in funding. Selected startups will receive exclusive partner benefits, including cloud credits from Amazon Web Services and Google Cloud, as well as business mentorship and technical support for scaling their businesses.

Seamless visa processes, better infra to help India attract more foreign tourists: Agoda

Economic Times

Economic Times · 2m ago

Seamless visa processes, better infra to help India attract more foreign tourists: Agoda

Agoda CEO Omri Morgenshtern emphasizes the importance of seamless visa processes and improved infrastructure to enhance India’s appeal as a global tourism destination. Currently, out of 18.9 million international arrivals, only 9.5 million were true foreign tourists. Morgenshtern believes that by making visas more accessible and upgrading infrastructure, India can significantly increase its foreign tourist numbers. Additionally, improving air travel options, especially budget segments, is seen as a way to boost tourism further.

Why VCs are investing in startups that help other startups shut down

TechCrunch · 1y ago

Why VCs are investing in startups that help other startups shut down

Venture capitalists have shown interest in investing in startups that help other startups shut down. With an estimated 90% failure rate for startups, there is a growing market for companies specializing in winding down other businesses. These startups assist with returning unused capital, auctioning assets, or facilitating the sale of companies to shut down. Investors see this as an opportunity to make returns for limited partners while helping founders move on more efficiently. Some examples of startups in this space include Sunset, which recently raised $1.45 million, and SimpleClosure, which secured $4 million in funding.

Stung By Unicorn Losses, Prosus Takes A Fancy For Early Stage Bets In India

Inc42 · 1y ago

Stung By Unicorn Losses, Prosus Takes A Fancy For Early Stage Bets In India

Dutch investment major Prosus is shifting its India strategy from large bets and buyouts to seed and early stage investments. The move comes after some major investments in Indian startups by Prosus, including BYJU’S and Pharmeasy, have not yielded expected returns, while other portfolio companies are facing losses. The challenging market conditions and uncertainties around profitability and IPO timelines have prompted Prosus to focus on smaller investments in early-stage startups. Prosus has already invested more than $7 billion in Indian startups, mostly in unicorns like Swiggy and Meesho.

Late-stage investors wait it out as startups struggle to grow into their valuations

Money Control

Money Control · 2y ago

Late-stage investors wait it out as startups struggle to grow into their valuations

Late-stage investors are exercising caution as startups face challenges in meeting their valuations. Many startups are struggling to achieve the growth necessary to justify their high valuations, leading investors to adopt a wait-and-see approach. The uncertainty in the startup ecosystem has prompted investors to assess their options carefully before committing significant funds to late-stage investments. SoftBank’s Rajeev Misra, among others, said that capital isn’t a constraint for the Japanese investor when it comes to investing in India, but opportunities are.

Just 2 weeks left to apply: Startup Battlefield 200 | TechCrunch

TechCrunch · 3m ago

Just 2 weeks left to apply: Startup Battlefield 200 | TechCrunch

TechCrunch Disrupt 2025's Startup Battlefield 200 is calling for applications, with a deadline of June 9. The event is an opportunity for startups to gain recognition, investment, and legacy, as 200 startups will be selected for a free exhibit space, with 20 presenting on the main stage to compete for $100,000 in equity-free capital. Participating startups receive additional benefits, including press access and investor leads. The event has historically propelled successful companies like Trello, Dropbox, and Discord.

Google Delists Info Edge’s Naukri & 99acres; Founders Say Google Killing Indian Startups

Inc42 · 1y ago

Google Delists Info Edge’s Naukri & 99acres; Founders Say Google Killing Indian Startups

Google continues to crack down on Indian startups, delisting apps from its Play Store. Naukri.com and 99acres, both owned by Info Edge, have had their apps removed, while others such as Bharat Matrimony, Shaadi.com, and TrulyMadly have also been delisted. Startups are calling for government intervention to address what they see as Google's dominance and unfair commission charges. Some are advocating for a state-backed app marketplace to compete with big tech companies. Google has not responded directly to the founders' complaints.

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