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Startup news and updates: daily roundup (July 15, 2024)

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Digital lending is expected to make up 5% of total retail loans by FY28, driven by the adoption of Gen Z and millennials. These younger demographics are opting for digital lending due to its convenience and speed. Currently, digital lending accounts for 2.5% of retail loans, with Gen Z borrowing around Rs 3.5-4 lakh crore and millennials borrowing around Rs 25-28 lakh crore. The report also suggests that there is significant growth potential for digital lending in India, with Gen Z and millennials driving innovation and competition in the market. Meanwhile, upGrad, an integrated learning and workforce development startup, has seen an 8x increase in enrolments for its AI-focused Bootcamps in FY24. These Bootcamps have been revamped to prioritize practical application and hands-on learning, with 80% of the curriculum dedicated to real-world projects, coding practice, doubt resolution, and graded assignments. The company aims to double its enrolments in FY25 by further enhancing its Bootcamps and offering a range of workshops, industry projects, and certifications.