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<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

For 10 years, Joe Gallegos Jr. lived the life of an LA actor, driving from audition to audition across the sprawling city in the hopes of landing a role. Things were going well — he'd landed a role in "A Cowgirl's Story," a military drama starring Bailee Madison, the "Dance Moms" star Chloé Lukasiak, and Pat Boone, and he was starting to read for bigger projects.That all changed a few years ago when a film role brought him back to his native New Mexico. He was close to family for the first time in years, and the film industry there was burgeoning. When the movie wrapped, instead of sprinting back to Los Angeles, Gallegos realized he didn't have to go back. The pandemic had shifted from in-person to on-tape. He's since earned acting credits in TV shows like "Pulse," a medical procedural on Netflix; and "Duster," a JJ Abrams drama on HBO Max — both of which filmed in New Mexico. The money he's made from those gigs and a few independent projects made it possible for Gallegos to buy a townhouse in downtown Albuquerque — something he'd never come close to being able to afford in La La Land."It's been a good decision because, as an actor, I can be literally anywhere in the world now," he told me.Lately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. LA continues to hold the lion's share of <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">film and TV jobs</a> in America, but after a long grind of jobs slowly slipping away, the exodus from the city has accelerated in recent years. A recent analysis of Bureau of Labor Statistics figures conducted by Patrick Adler and Taner Osman of Westwood Economics &amp; Planning Associates found that the figure was 22% in August, down from about 33% two years earlier.So what's making actors, executives, and studios look beyond the Hollywood sign? Some factors aren't new. Most notably, states have long used financial incentives to try to lure film investment away from California. But those incentives helped establish an infrastructure across the US — with top-notch sound stages being built in cities as varied as Dallas, Atlanta, and Miami — that was ready and waiting when the pandemic-era rise of remote work gave those seeking a lower cost of living a real choice in deciding where to live. Add it all up, and it seems that the glitz and glam of Hollywood is struggling to keep up with simple dollars and cents.The filmed entertainment industry's center of gravity is shifting further from Hollywood at a time of upheaval. The decadelong shift to streaming was exacerbated by the pandemic, which stalled, then boosted, production as people stayed inside and became couch potatoes. Peak TV came to a halt in 2022 when networks, studios, and streamers couldn't make the financial math for all those new streaming shows work. And filming was shut down once again in 2023 because of the Hollywood actors and writers strikes.When projects slowly got back on their feet, fewer of them were turning their lights on in LA. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. The number of people employed in the traditional entertainment industry in LA, according to the Bureau of Labor Statistics, hit a 30-year low in June. At the same time, jobs related to video gaming, live events, and the creator economy rose in the city as people's <a target="_blank" href="https://www.emarketer.com/content/digital-media-makes-up-nearly-two-thirds-of-consumers-total-time-spent-with-media">media diet</a> shifted toward social video and away from traditional TV and movies.The biggest reason that productions are looking elsewhere is cost. The wage gains made by the actors and writers have increased budgets for talent, leading producers to hunt for ways to drive down outlays in other areas — including locations. Thirty-seven states offer perks for film and TV production — typically in the form of tax credits equal to a percentage of a production's in-state spending, or cash rebates — and at <a target="_blank" href="https://www.ncsl.org/state-legislatures-news/details/watch-out-hollywood-states-want-a-piece-of-the-moviemaking-action-1">least 18 states have implemented or expanded</a> film tax incentives since 2021. Georgia boosted its incentive program in <a target="_blank" href="https://www.ajc.com/blog/buzz/top-grossing-films-shot-georgia-since-2008/joqaWPplc0L2mKzwmcNMwK/">2008</a>, helping attract big-budget films like Disney's Marvel franchise and the Netflix hit "Stranger Things." Atlanta's share of entertainment employment is still relatively small — just 2%, according to the Otis Report on the Creative Economy, a closely-watched research study — but that has doubled over the past decade and shows no sign of slowing.As productions move out of Los Angeles, it becomes easier for others to follow. Tiffany FitzHenry, an executive producer known for "Sound of Hope: The Story of Possum Trot," has seen the Atlanta area evolve since relocating there from LA in 2009."We have training for not just below the line but people in producing, packaging, financing," she told me, adding that the shift in major studio movies to the city had brought with it the structures needed to sustain a more permanent workforce."The biggest movies have been made here for the past 15 years," she said. "We have all the toys and tools at our fingertips."Other states are getting in on the action. Kentucky passed an incentive program in 2022 offering fully refundable production tax credits worth up to $75 million total or $10 million a project. Its second-largest city, Lexington, recently hired the entertainment marketer Lisa Brin, a Lexington native, to help persuade studios to shoot there. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. In addition to the financial incentives, the city touts production spaces like Lex Studios, a facility with three sound stages, a growing crew base, and a willingness to pull strings as they did for a recent production that requested a major street to be closed for a shoot.In addition to luring productions, these areas are also trying to make it more appealing for creatives to stick around once the cameras shut off. Georgia and Kentucky are among states that have invested in training programs to foster homegrown talent and initiatives like FilmLex as a resource hub to help productions. For transplants, it's cheaper to live and raise a family outside LA as well as New York, the second-biggest entertainment market. And while jobs and the cost of living might be the primary reasons people move, the proliferation of cultural amenities in many smaller cities makes it easier for them to stay. 26 Keys, a production founded by Noah Hawley, an Austin native who created FX's "Fargo" series, is taking steps to build up Austin's entertainment cultural capital, with plans for a library, events like industry happy hours, and film screenings, working with organizations like the Austin Film Society and South by Southwest. "I just don't think there's a real sort of hub that's trying to connect them," said Maddy Bilder, a project director at 26 Keys. "That's what we're hoping to do here."It's not just other parts of the US that are drawing film crews away from LA; other countries are trying to win over Hollywood as well. Hungary, with a 20-year-old tax rebate and access to culture and an expanding stage system, was recently the setting for Yorgos Lanthimos' "Poor Things." Australia <a target="_blank" href="https://www.ausfilm.com.au/media-releases/ausfilm-celebrates-passage-of-australias-30-location-offset/">nearly doubled</a> its location tax credit to 30% this summer after big-budget titles like the Sony Pictures rom-com "Anyone but You" and the Universal Pictures comedy "The Fall Guy," which starred Ryan Gosling and Emily Blunt, were shot there. Roughly 60% of Netflix's and Amazon's commissions in the first half of this year were on continents other than North America, according to Ampere Analysis."I know of producers, senior production people, moving to places like Australia or working in Hungary," said Tyler Mitchell, the CEO of <a target="_blank" href="https://www.businessinsider.com/inside-ron-howard-brian-grazer-impact-production-crew-staffing-platform-2023-3">Impact</a>, a LinkedIn-like platform for Hollywood. "In the UK, Australia, the governments have supported a lot of education, training, to make sure as they built up production facilities, they had enough crew to service sound stages. So there is more of a talent base globally in places like Ireland, Budapest, South Africa, and the UK. I've heard of more productions in Saudi Arabia looking for crew than I ever have."Actually being on a set is only one part of entertainment production. Development, preproduction, and postproduction are responsible for a huge portion of what ends up on screen. But here, too, the need to physically be in the mecca of moviemaking is waning. Technology is giving rise to a Tinseltown version of remote work.Self-tapes, where actors use ring lights and film themselves at home to connect with casting directors, have become commonplace. Many meetings to pitch projects that shifted to Zoom early in the pandemic have stayed on video. On the postproduction side, file sharing and editing platforms like Pix and ScreenIt Pro enable production companies like 26 Keys to review content locally rather than fly to editing rooms in LA."A lot of pitch meetings are happening over Zoom, four years later," Bilder said.While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place. The end of Peak TV has contracted employment all over — the total number of jobs in the industry, <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">at 447,000</a>, declined 9.1% from 2013 to 2024. Even as markets like Atlanta and Miami grow, their homegrown entertainment encampments have a long way to match the hundred-year history of LA — the most valuable parts of the supply chain, like casting big stars, greenlighting, and packaging, are still concentrated in the city."There's high stakes there. This is an area where trust matters," said Adler, the principal at Westwood, which conducted research for the Otis report. "You built it through face-to-face interaction, repeated exchanges. That's why casting for top roles still happens in LA, even if they end up being shot elsewhere."For those who are just starting out or who work on the creative side, too, Hollywood is still where careers are made and nurtured. FitzHenry wishes there were more directors and producers with packaging and marketing skills in Georgia. "It's a skill set that hasn't been outside of Hollywood," she said. "Currently, the only way to learn is for a producer to adopt and teach you. I was lucky to work with highly skilled producers, which I learned in LA, like an oral tradition. That's a lot of relational capital that needs to be established." Keisha Perry, a longtime entertainment attorney in Atlanta whose clients have included Cedric the Entertainer's production company and the movie "The Waterboyz," said that being a local attorney had made it easier to connect with the growing number of productions taking place in the South but that she still traveled to LA regularly."The reality is, a lot of the decision-makers are in LA," she said. "There are those people who feel as though if you're not in LA, your legitimacy can be questioned."Further evidence of LA's staying power is in the industries like video games, marketing, and the creator economy that are concentrated there because of the city's legacy in entertainment, which has endured through the rise of radio, then TV, then streaming. That may not necessarily lead to more TV shows and films being made there, but it underscores The Town's cultural importance.Gallegos estimates that he still gets half his work from outside New Mexico, helped by representation he has in LA. "The reality is, major roles are not cast here and often not shot here," he said. For all the perks, he misses the excitement of being in LA. "There's stuff happening 24/7. I'm a trained dancer, too. I could always jump into something." Then there's the nagging feeling that virtual auditions don't count. "Sometimes I think I'm sending things out into the void that don't get watched."Despite the similar professional gaps she sees, FitzHenry remains deeply rooted in Atlanta. She's found an affordable, friendly place to raise her kids and a tight-knit professional community that pulls together to help bring projects to the state, things she never experienced in LA."There's a sense people really care about each other," she said. "There used to be that mentality of, you have to be in Hollywood to be in the business. I think that's changing."<a target="_blank" class="" href="https://www.businessinsider.com/author/lucia-moses">Lucia Moses</a> is a senior correspondent covering the intersection of tech and Hollywood for Business Insider's Media team.

Leaving Los Angeles: Why the film industry is ditching Hollywood

Online rental platform <keyword id="20045635" type="General" weightage="100" keywordseo="frontdesk" source="keywords">Frontdesk</keyword> has become the first tech startup to lay off employees in 2024 -- its entire 200-person workforce -- during a "two-minute Google Meet call". The layoffs included full-time, part-time workers and contractors and the proptech startup is now on the verge of shutting down, <keyword id="19895623" type="General" weightage="50" keywordseo="techcrunch" source="keywords">TechCrunch</keyword> reported on Wednesday. Frontdesk CEO Jesse DePinto apparently told employees that the company would be "filing for a state receivership, an alternative to bankruptcy". The startup was yet to comment on the report. Founded in 2017, the startup managed more than 1,000 furnished apartments across the US. Frontdesk had raised about $26 million from investors such as <keyword id="20045638" type="General" weightage="50" keywordseo="jetblue-ventures" source="keywords">JetBlue Ventures</keyword>, <keyword id="20045636" type="General" weightage="50" keywordseo="veritas-investments" source="keywords">Veritas Investments</keyword> and <keyword id="20045637" type="General" weightage="50" keywordseo="sand-hill-angels" source="keywords">Sand Hill Angels</keyword>. The startup aimed to raise fresh capital but failed in its attempt. "Frontdesk was apparently still optimistic about its ability to raise more capital; the startup had posted on LinkedIn openings for several jobs, including a chief of staff role, just two months ago," said the report. Tech companies, including startups, around the world fired more than 425,000 employees in the last two years, with more than 36,000 employees being sacked in India in the same time period. In 2023, nearly 2.6 lakh employees were laid off in the global technology and startup sector. Citing the global macroeconomic conditions, Big Tech firms and startups across the spectrum have sacked employees, and layoffs continue to happen. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/new-upcoming-smartphones-in-india-in-2024-apple-samsung-google-mobiles-in-the-list/slidelist/106489936.cms">Apple to Samsung and many more – smartphones set for launch in 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s24-series-with-improved-telephoto-lens-exynos-2400-chipset-expected-mid-january/articleshow/106484424.cms">Samsung Galaxy S24 series with improved telephoto lens, Exynos 2400 chipset expected mid-January</a> <a href="https://www.businessinsider.in/business/auto/news/new-creta-to-punch-ev-cars-hitting-indian-market-in-january-2024/slidelist/106479554.cms">New Creta to Punch EV – Cars hitting Indian market in January 2024</a>

Gone in 2 minutes: Frontdesk lays off entire staff over a short GMeet call

<ul class="summary-list"><li>William Reeve is an entrepreneur who's been angel investing for the past 25 years.</li><li>When weighing up investment opportunities, he's looking for founders who'll listen well.</li></ul>This as-told-to essay is based on a transcribed conversation with William Reeve, 52, an angel investor based in North London. Reed is the CEO of the lettings platform <a target="_blank" href="http://Goodlord.co">Goodlord.co</a>, and a non-executive director of the homeware retailer Dunelm. One of the companies he founded, LOVEFiLM, a DVD rental and streaming business, <a target="_blank" href="https://www.businessinsider.com/amazon-lovefilm-2011-1">was acquired by Amazon in 2011</a> and reportedly valued at $312 million at the time. The following has been edited for length and clarity.I've been a fairly active <a target="_blank" class="" href="https://www.businessinsider.com/these-are-the-60-top-angel-investors-for-b2b-startups-2024-6">angel investor</a> for 25 years now.From a young age, I was a computer geek. In 1997, I set up my first business, Fletcher Research, researching the internet for large corporates. I was in the right place at the right time. My company <a target="_blank" href="https://uk.themedialeader.com/forrester-acquires-fletcher-research/">was acquired in 1999</a> for a life-changing amount of money.I didn't have a plan for that money.In the early 2000s, I loaned a university friend some money and from there, began making more investments. I had some connections with people I'd done a graduate program with at <a target="_blank" class="" href="https://www.businessinsider.com/mckinsey-ai-consulting-focus-future-2024-6">McKinsey</a> who had investment opportunities.Roughly four years after my first business was acquired, I cofounded LOVEFiLM, a DVD rental company. People I worked with there went on to run Zoopla, a well-known UK property website, which I invested in.I've made about 60 investments over my lifetime, including repeat investments and crowdsourcing. My ticket size is usually around £20,000, around $25,000. This is relatively small, but I've got a lot of experience that founders look for in <a target="_blank" class="" href="https://www.businessinsider.com/seed-100-best-early-stage-vc-investors-2024-5">investors</a>. I've built up a strategy for fielding opportunities over the years and learned about what makes a good investment.<h2 id="97712f69-8bfa-4a5c-8480-18f6eeaec799">I'm looking for entrepreneurs who I can help, not people who just want the money</h2>I'm generally looking to invest in companies where I have expertise to offer, either because tech is integral to their strategy or I can support their <a target="_blank" class="" href="https://www.businessinsider.com/entrepreneurship-guide-pitch-deck-startup-venture-capitalist-raise-money-2019-3">fundraising</a> and hiring.When I meet a founder, I look for their ability to listen; the best entrepreneurs are usually naturally curious and good listeners. There's nothing more frustrating than offering advice and being ignored. If a founder only wants money and has no intention of talking or listening, I tend to pass.I've reached out to companies I liked in the past, but it's rare. I mostly wait for people to pitch to me.One filtering mechanism I have is that <a target="_blank" class="" href="https://www.businessinsider.com/female-startup-founder-mode-ceo-double-standard-2024-9">founders</a> must contact me through another investor or entrepreneur I know. I'm a well-networked guy; there are hundreds of people I'd happily accept an introduction from. It speeds up the process.I've learned not to invest after a first meeting. I need three touchpoints, such as meetings or emails, to sense whether my relationship with a founder is developing or if they're meeting their promises.I also leverage my network to do due diligence. If I know someone who knows the space better than me, I'll chat with them or ask them to meet potential investees for me.My standard ticket size is around £20,000 or £25,000, but I've invested up to about £100,000 in some businesses over multiple investments. It's stayed at that amount over the years partly out of habit, but also because I want to focus on the entrepreneur and business without getting distracted by trying to "game" the ticket size.The expertise you can offer as an investor is fairly general, such as insights about fundraising strategy or how boards should be structured. But I've also made specific contributions: I found a CTO for one business and have supported several others in securing their main investor. However, I usually make the most impact with companies when I am on their board, which I've done for about a dozen of my investments.<h2 id="57f967e5-d9df-4314-9651-aa8e115dd063">There are good and bad signs in a potential investment</h2>I love companies that have a "MacGuffin," a term Alfred Hitchcock used to describe the hook that draws viewers into a film. I want to see the hook that explains why a business will win in a competitive marketplace.If I'm meeting entrepreneurs, I'll point to a passerby and ask, "Those guys are setting up the same thing as you. Why are you going to win?"The good answers are "MacGuffins." They could already have a deal with the No. 1 player in that space or have patents on amazing technology.A bad signal for me is when I see families working together, like couples or siblings. To me, it means there are probably some non-rational factors at play, like family relationships, that make it hard for people to do what's best for the business.The <a target="_blank" class="" href="https://www.businessinsider.com/adam-neumann-launching-wework-rival-different-business-strategy-2024-10">business model</a> is most often what makes me pass. It's pattern-matching — when I've seen something like it before, and it didn't work, I won't invest. It's annoying for the poor entrepreneur, but I like to apply my experience and knowledge of business.<h2 id="0b415f81-ec62-4072-a532-084b345a9350">My advice is to invest in people you know</h2>Angel and <a target="_blank" class="" href="https://www.businessinsider.com/vcs-are-hedging-their-bets-backing-competing-llms-2024-10">venture investing</a> is a high-risk, high-reward activity. If you're not willing to lose everything you invest, it's not something you should be engaging in. You almost have to assume that investments are written off and the money's gone, and what comes back to you is a windfall.I've seen returns several times the value of what I've invested, which is a really fortunate position to be in, and I still have some significant investments that haven't returned any cash yet, though I think they will.I'd say the sort of people who do <a target="_blank" class="" href="https://www.businessinsider.com/how-to-become-an-angel-investor-in-tech-startups-2022-10">angel investing</a> because their accountant suggests doing it for tax breaks aren't going to do very well. I'd encourage people to think about where their edge is — where do they have some advantage over others as an investor? The obvious option is to back people you know because not everyone knows them.Successful <a target="_blank" class="" href="https://www.businessinsider.com/30-of-the-most-successful-early-stage-investors">angel investors</a> are people that founders see as providing more than just money. Regardless of the company's outcome, they have a positive impact on the businesses and entrepreneurs they invest in.Do you want to share your angel investing story? Email <a target="_blank" href="mailto:ccheong@businessinsider.com">ccheong@businessinsider.com</a>

I'm a seasoned angel investor. Here's what I'm looking for from entrepreneurs — and what makes me turn them down.

Total funding raised by <keyword id="17404081" type="General" weightage="20" keywordseo="mom-and-baby-care-startups" source="Orion">mom and baby care startups</keyword> and companies was $418 million in 2022, a plunge of 80 per cent from $2.1 billion in 2021, a report has shown. <keyword id="17404082" type="General" weightage="20" keywordseo="Mom-Baby-Care-companies" source="Orion">Mom &amp; Baby Care companies</keyword> in the US have raised $5 billion till date, while those in China and India raised $2.8 billion and $1.4 billion, respectively, according to Tracxn, a leading global SaaS-based market intelligence platform. The drop in funding is majorly due to the absence of late-stage investments. Seed-stage funding in Q1 2023 fell 21 per cent as against Q1 2022 but jumped 444 per cent from Q4 2022. Early-stage investments in the first quarter of 2023 rose 158 per cent when compared with Q4 2022, but dropped 64 per cent from Q1 2022, the report noted. The sector attracted investments worth $21 million in Q1 2023, compared with $3.86 million in Q4 2022 and $26.5 million in Q1 2022. "The space is seeing minimal or no activity in terms of unicorns and IPOs. In 2022 and 2023 till date, no new unicorn companies were created in this space," the report mentioned. No IPOs have taken place in 2023 so far, while 2022 witnessed one company and 2021 witnessed two companies going public. In terms of funding, <keyword id="17404084" type="General" weightage="20" keywordseo="Gamified-learning-platforms" source="Orion">Gamified learning platforms</keyword> for Pre-K children is the top-funded business model in the last two years in this space, followed by Online Retailers and Breast Pumps. 500 Global, Techstars and New Enterprise Associates are the most active investors in this space till date. IPV, Angel List and Techstars are the top seed-stage investors and Innoven Capital, Andreessen Horowitz and Sequoia Capital are the top early-stage investors, while Sequoia Capital, General Atlantic and IPGL are the top late-stage investors in the last two years. The pandemic accelerated the growth of the Mom &amp; Baby Care space, giving rise to innovation in this segment. The rise in the working class population with a higher disposable income, is also a supporting factor for growth in this space, said the Tracxn report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-sc-hints-at-granting-sebi-extension-on-probe-report-to-decide-on-may-15/articleshow/100185994.cms">Adani-Hindenburg row: SC hints at granting SEBI extension on probe report, to decide on May 15</a>

Funding into mom & baby care companies plunges 80%, no new unicorns

<ul class="summary-list"><li>Lisa Morris parlayed her acting career on Broadway into a business career.</li><li>Now, the "accidental entrepreneur" wears several hats at multiple companies. </li></ul>As a theater kid, Lisa Morris didn't anticipate a business career. In fact, she would call herself an "accidental entrepreneur.""While I was touring, I felt that our travel was handled poorly. So I started what I thought at the time was going to be a little side hustle, just a little extra money while I was touring, booking the travel not only for my own tour, but for other people's touring companies," Morris told Business Insider.She said she got a call from "Jersey Boys," then "Spamalot," and realized she had found an underserved niche market."I got a call from 'Hairspray,' and that's when I was like, 'This is a real company.' So I quit acting, which I had not planned on. And I set about becoming an entrepreneur," Morris said.She said she had to get creative to make things work initially. She made a deal with a Wall Street hedge fund: She'd be their receptionist for minimum wage if she could run her travel business from their offices.Eventually, she scaled that business and sold it to a global travel agency in 2012. She still runs that company as a division of the larger company, but the acquisition allowed her to pursue other ventures."I then started investing. My focus as an investor was, and is, early-stage social impact businesses, particularly those with a diverse founder," Morris said. "That got me into a lot of angel groups, women investor groups, women entrepreneur groups, and I started funding a lot of different companies helping to grow other businesses."<div type="image" title="Lisa Morris stands with a donation bucket after a production of Les Miserables." height="336" width="448" msid="105882408" hostid="261" sizebytes="17004"></div>At the Women's Entrepreneurship Day Organization's summit held at the United Nations in November, Morris highlighted her latest investment project: A company called SociAvi. It's a product that helps the elderly use technology to connect with their loved ones without becoming vulnerable to scams and online threats."It's a game changer for the older person. No passwords, no logins, no links, nothing to frustrate and upset them," Morris said at the WEDO summit.The device — which is encrypted and about the size of a laptop — also comes with speech therapy and music therapy modules for the older person to work through, as well as puzzles to asses their memory. The data from those exercises can be used by the caregiver or shared with a doctor if needed, said Morris, who also serves on SociAvi's advisory board."These are people that don't necessarily have enough advocacy, have enough people speaking for them, have enough visibility, because the world has gone so far into social media and these types of platforms, and they're not part of it," Morris told Business Insider.As an entrepreneur, Morris wears many hats, she said. In addition to her travel company and work with SociAvi, Morris works as a managing director for a Single Family Office, which caters to ultra-high net worth families and their investments.She also works in philanthropy as Director of Philanthropic services for FORCE Family office, senior consultant to the Mary Tyler Moore Foundation, and Vice President of AKS Family Foundation. She is also a pitch coach at the New York State Research and Development Authority, where she works with entrepreneurs to help them hone their presentation skills."If I ever had a title, I would be like the accidental entrepreneur. Because I truly fell into entrepreneurship, fell into selling the company, fell into the family office space," Morris said. "My interest is to use the entrepreneurial talent and the network to push great things forward that change the world, whether it's philanthropic or through investment."But entrepreneurs have to be ready to fight to be successful, Morris said."If I had a tip for entrepreneurs, it would very much be you have to be prepared to pivot at any time," Morris said. "I don't know anyone that's built a business that hasn't taken a lot of punches."

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