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<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> added over 1,300 active <keyword id="6358815" type="General" weightage="100" keywordseo="tech" source="Orion">tech</keyword> startups last year, taking the total tally of active tech startups to 25,000-27,000, a <keyword id="6372077" type="General" weightage="80" keywordseo="nasscom" source="Orion">Nasscom</keyword> report said on Wednesday. India continues to be the third largest <keyword id="1071988" type="General" weightage="20" keywordseo="tech-startup" source="Orion">tech startup</keyword> ecosystem globally (after the US and China). The country also added the second highest number of unicorns in the world, with over 23 added in the CY2022. Simultaneously, the potential pipeline of unicorns expanded to over 170, growing at a pace equivalent to 2021, according to the report by the National Association of Software and Services Companies (Nasscom), in collaboration with Zinnov. "Despite the current downturns, opportunities abound for innovative companies that are leveraging emerging technologies to create actionable impact while prioritising business fundamentals over growth," said Debjani Ghosh, President, Nasscom. Despite the headwinds, while total funding in CY2022 dropped 24 per cent over 2021, the annual investments at $18.2 billion were higher than the pre-pandemic levels of $13.1 billion in 2019. The year also witnessed a significant investment focus on non-unicorns and unique startups. Almost 1,400 unique startups received funding in 2022, 18 per cent higher than in 2021. Among these, 47 per cent of startups raised their first round in 2022, the report mentioned. Both early-stage ($5.9 billion in CY2022) and seed-stage ($1.2 billion) investments grew between 25-35 per cent over 2021. In 2022, tech startups in the seed-stage secured 1,018 investments. Late-stage investments bore the brunt with a decline of 41 per cent in deal sizes greater than $100 million, due to considerable correction in the global public markets. "What is remarkable is the ecosystem's maturity, where founders are intentionally prioritising profitability over valuation and the investor trust, despite macroeconomic variables at play. This will pave the way for growth in 2023 and beyond," said Pari Natarajan, CEO, Zinnov. Tech startups are expected to continue increasing innovation and deep-tech adoption, particularly in areas related to SDGs (Sustainable Development Goals) that require complex solutions, the report said.

India now has nearly 27,000 active tech startups, as it adds 1,300 last year: Nasscom

<keyword id="3260144" type="UNKNOWN" weightage="20" keywordseo="food-tech-startups">Food tech startups</keyword>, just like those fun breakfast cereals for kids, come in different shapes. From online restaurants to restaurant delivery partners, <keyword id="1090098" type="UNKNOWN" weightage="20" keywordseo="Food-tech">food tech</keyword> in India seems to be defined as any technology that helps satiate hunger. In fact, it remained a buzzword throughout 2015, attracting over $463 million in investments across 50 deals. 
 
Unfortunately, things took a dramatic turn early this year. Many startups found themselves starving — for funds. They couldn’t get seconds. 
The all-you-can-eat-buffet got over a little early and the founders found themselves in a pickle. Quite unpalatable indeed. 
 
But what happened? 
For the investors, it was a fad diet — one that showed results in the short term, but caused much harm(shutdowns, lay-offs and distress sales) in the long run with unhealthy and unbalanced habits. 
 
In retrospect, it wasn’t all that surprising. In the fad diet phase, the recommended daily allowances of investment and valuations were based on fishy business models and research data, smudged beneath globs of ketchup. 
 
Many food tech startups were focused exclusively on tackling different challenges in the supply chain (minus the production). The most important part of the experience— food, and food quality, was never the focus. 
 
Companies didn’t realize that packaging, logistics, delivery and customer acquisition count for nothing if the quality of food is found to be lacking. That it was far more important to own the entire experience. 
 
Is there a Secret Sauce? 
Virtual restaurants will need to build out the logistics network to win in the long run, because they can understand eating preferences better, optimize logistics and reduce delivery times. The problem is the high capital costs. But that also presents a massive opportunity for startups that blur the line between freshly cooked meals and packaged foods, using a subscription model to reduce their barriers to entry in this highly competitive market. 
 
What’s Cooking Now? 
There’s a new crop of startups focusing on food production, and whose offerings are based on cutting edge studies by some real smart cookies (aka top scientists &amp; university researchers) backed by business models that Pepsico would have been proud to call their own. 
 
This year is seeing quite a few innovative core food tech companies mushrooming with healthy valuations in the US — the likes of Impossible Foods, Soylent, Nootrobox and Chapul are whetting our appetite and leaving investors craving for more. 
 Perhaps food tech is back on the menu for many VCs. And why not? Who wouldn’t want a piece of a $40 billion pie? There is a considerable market for health foods and food services and it is growing fast. Plus, the nutritional content of these new age <keyword id="1744427" type="UNKNOWN" weightage="20" keywordseo="Food-startups">food startups</keyword> is quite high and investors are happy to put their money where their mouth is. 
 
 
Some food for thought… 
People want to lead healthier lives, and are actively prioritising their well-being. People also know their onions when it comes to fitness — thanks to an explosion of information on the web, coupled with countless fitness apps/devices to egg them on. This trend is definitely not a fad. Indeed we are witnessing a cultural shift. And it’s there for the taking. 
 
However, although people are more aware, it doesn’t necessarily mean that they are more active. People look for shortcuts. Meaning they want to exercise smarter (workout for smaller duration and expect the same benefits) or when they don’t exercise, to not feel guilty about the calorie intake. Food tech can address both use cases and plenty more. 
 
Proof of the pudding is in the eating! 
There are a few core food tech companies in India in this space — mostly limited to fitness bars with the exception of SupermealX — which claim to be a solution (quite literally!) to help you stop skipping breakfasts, address hunger pangs healthily, and avoid empty calories. 
 
The problem with fitness bars and Soylent-type solutions is that it’s a crowded market, and it’s difficult to stand out. That model needs a constant push to delight customers with newness (flavours) and improved technologies. And liquid diets might not be everyone’s — you &amp; I — cup of tea. 
 
Here’s another use case. Hardcore meat-eaters who want to go on a vegan diet but are looking for high-protein substitutes. For these folks, there is a need for an engineered product that sounds like, “Wait, a plant-based food bar that has the texture and flavor of chicken/ pork/ beef and is environmentally friendly?”, that makes them go, “Shut up and take my money!”. That solution will also work for the 29% vegetarian population in the country, who can finally know what meat tastes like and also end all the fuss. 
 
And then there is 3D printed food and vertical farming technologies that come under food tech, but is relatively unexplored in India. 
Whatever the use case, the time is right to spice things up in food tech! But the recipe for success will always remain the same — providing quality food, coupled with amazing service and a superlative experience. 
 
Nom nom. 
 
 
(Image: Indiatimes)

Food tech is back on the Menu for VCs

The year 2015 was a definitive year for the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+internet+industry">Indian internet industry</a>. As the economy continued to grow at a healthy 6-7%, the sluggish Chinese economy meant investors are looking at India with renewed interest. Nobody cashed in bigger than the <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> players. 
 
Experts believe that while the Indian e-commerce market is currently pegged at $5 billion, the figure might leap to as much as $40-50 billion by 2020. A 2015 PwC report even states that Tier 2 and 3 cities have seen 30% to 50% rise in transactions. 
 
With the rural and semi-rural markets catching up to the trend, no wonder the likes of <a href="http://www.businessinsider.in/searchresult.cms?query=internet+startups">internet startups</a> are pulling out all their stocks to acquire customers with hefty discounts and schemes. However, while all this might seem very recent, it all started a while ago. 
 
Here is a list of top 10 Indian startups that are riding the <a href="http://www.businessinsider.in/searchresult.cms?query=startup">startup</a> wave, and how they started.

Top 10 Indian Startups and how they took off

A report from TeamLease has said that e-commerce and <keyword id="1532447" type="UNKNOWN" weightage="100" keywordseo="tech-start-ups">tech start-ups</keyword> in India will most likely dominate the hiring landscape in the coming months, with a 23.6% growth in jobs during April to September. 
 
The report, titled TeamLease Employment Outlook Report, says that the increase in consumer spending and the renewed focus on market expansion is going to have a positive impact on hiring process across metros and Tier I cities. 
 
However, because of the Make In india initiative not leaving the desired response, manufacturing &amp; engineering and infrastructure are the areas which would bear the brunt. 
 
Talking of the blue collar jobs, they are likely to benefit substantially from the net positive sentiment, along with sales and IT sector. 
The study covered nine key industry verticals in India: FMCG, manufacturing &amp; engineering, BFSI, telecommunication, pharma &amp; healthcare, IT, retail and e-commerce &amp; technology start-ups, and eight cities were surveyed for the results. 
 
<a href="http://thepeninsulaqatar.com/images/e-commerce.jpg">Image source</a>

E-commerce and tech start-ups will hire the most in the coming months, suggests reports

Neeraj Joshi, CEO of Thingsmeet Solutions, zeroed down on <keyword id="2094" type="COMPANY" weightage="100" keywordseo="Pune">Pune</keyword> when he first decided to set up a health-tech venture, not only because of the time he had spent in the city as the centre head for Infosys or his network of contacts there. Another huge reason behind his choice of place was the easy availability of the kind of talent that he wanted. 
 
"A lot of tech companies like Infosys and Syntel have their healthcare vertical headquartered here, so there is a lot of talent available," Joshi told <a href="http://economictimes.indiatimes.com/small-biz/startups/pune-is-new-hub-for-health-tech-startups/articleshow/53201409.cms">ET</a>. "Also institutes like Symbiosis Institute of Health Sciences and Ashtang Ayurveda ensure access to experts with domain knowledge and expertise." 
 
It was only last month that Govin Capital, headquartered in Singapore, announced a health-tech accelerator in Pune, with its CEO Anand Govindaluri saying, "Pune has the best start-up ecosystem because of the natural presence of good medical, engineering and management schools. There is a natural flow of talent that is automatically attracted to Pune, and so identifying management teams for start-ups with diverse backgrounds is also easier." 
 Pune has seen a lot of <keyword id="3492724" type="UNKNOWN" weightage="100" keywordseo="health-tech-start-ups">health-tech start-ups</keyword> rising in the past few years, with companies like Medsonway, which delivers medicines, Docplexus, a doctor's network, Allizhealth, which lets you store your health data, and Medifee, which provides pricing information on tests and hospital procedures, all being founded here. 
 
"There is a lot of noise in other cities; we wanted to do our groundwork and Pune provided the best environment to do that and stay under the radar. Pune lacks investor attention, but its better this way - it helps companies focus on the basics and bootstrap. Investors will get involved only when they really want to invest," said Abhijit Gupta, CEO of Praxify Technologies. 
 
However, Anurav Rane, CEO of Planmymedicaltrip.com, a medical tourism portal, says that the lack of access to investors is a major problem when it comes to Pune. 
 
"Pune is a technology hub but the start-up ecosystem needs to improve. What works for it, however, are factors like proximity to Mumbai, and for us, a large out of-town population of students and professionals, which helps create demand for our services," he said. 
 
Abhimanyu Bhosale, CEO of Live Health, is of the opinion that along with easy access to talent because of the educational and tech presence that Pune offers, several other factors like the quality of life and cost of living also make Pune substantial. 
 
"The high cost of talent in other cities like Bengaluru can make it difficult to find the right people if you are a start-up. Though Pune lacks investor support, it's not as commercialised, making it easier to manage the cost of operations, management and travel," he added. 
 
<a href="http://knowstartup.com/wp-content/uploads/2016/06/knowstartup.com-health-tech.jpg">Image source</a>

Here is why Pune has become the hub of all major health-tech start-ups

<div style="padding: 15px; border: 1px solid #999999; margin-bottom: 10px; font-size: 15px!important; line-height: 25px; overflow: auto; vertical-align: middle;">This is the fourth of the six-part <a href="http://www.businessinsider.com/category/sa-100-insider">"SA 100 Insider"</a> series, looking at the passions, hobbies, and pursuits of Silicon Alley's tech elite. "<keyword id="1880892" type="UNKNOWN" weightage="60" keywordseo="SA-100-Insider">SA 100 Insider</keyword>" is sponsored by Mercedes. <a href="http://www.businessinsider.com/category/sa-100-insider">Read more posts in the series »</a></div><div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Kevin Smith/Business Insider" title_caption="Bre Pettis, founder at MakerBot" class="zoomin" href="http://static6.businessinsider.com/image/513ca94e6bb3f79222000004-960/makerbot-ceo-bre-pettis.jpg"></a>Kevin Smith/Business InsiderBre Pettis, founder at MakerBot</div></div>The tech scene is booming in <keyword id="71339" type="COMPANY" weightage="60" keywordseo="Brooklyn">Brooklyn</keyword>. 
Over the summer, <a href="http://www.businessinsider.com/makerbot-ceo-bre-pettis-on-acquisition-2013-6" target="_blank">3D printing company Stratasys acquired MakerBot</a>, the hot 3D printing <keyword id="138263" type="UNKNOWN" weightage="60" keywordseo="startup">startup</keyword>, in a $400 million deal. 
"We're so proud to be doing this in Brooklyn," MakerBot CEO Bre Pettis said in June. "I don't think we could've done this any other place."
In Brooklyn's DUMBO area, there is a growing community of tech startups. The area, which stands for Down Under the Manhattan Bridge Overpass, is <a href="http://map.brooklyntechtriangle.com/#">home to more than 500 tech companies</a>.

These Are Brooklyn's Hottest Tech Startups 

<ul class="summary-list"><li>VCs are <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">pouring money into climate-tech startups</a> developing everything from <keyword id="45741" type="PERSON" weightage="60" keywordseo="batteries">batteries</keyword> to machines that capture carbon emissions.</li><li>We asked 15 top firms and incubators, from Khosla Ventures to Greentown Labs, which startups they think are set to soar in the year ahead. </li><li>They shared <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">46 companies</a>, which are developing wildly different technologies. The <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">full list</a> is available exclusively to Business Insider subscribers.</li><li>Do you have feedback or a story tip? Reach out to this reporter at <a href="mailto:bjones@businessinsider.com">bjones@businessinsider.com</a>.</li></ul>A decade ago, <keyword id="397320" type="ORGANIZATION" weightage="60" keywordseo="clean-tech">clean tech</keyword> was a dirty word. <keyword id="6357097" type="DEFINITION" weightage="60" keywordseo="Venture-Capital">Venture capital</keyword> investors <a href="http://energy.mit.edu/wp-content/uploads/2016/07/MITEI-WP-2016-06.pdf">burned billions</a> betting on solar panels, batteries, and biofuels, causing them to retreat from the industry. Now the clean-tech industry is roaring once more, though many investors have given it a new label: <keyword id="10439264" type="UNKNOWN" weightage="60" keywordseo="climate-tech">Climate tech</keyword>.VCs have poured almost $16 billion into the sector already this year, according to clean-tech data PitchBook shared with Business Insider. That's up from an average of about $5.6 billion per year between 2008 and 2016. And <a href="https://www.pwc.com/gx/en/services/sustainability/assets/pwc-the-state-of-climate-tech-2020.pdf">6 cents of every VC dollar</a> spent last year went towards climate tech, a <a href="https://www.pwc.com/gx/en/services/sustainability/assets/pwc-the-state-of-climate-tech-2020.pdf">PwC report</a> shows. Read more: <a href="https://www.businessinsider.com/list-top-climate-tech-startups-investors-cant-stop-talking-about-2020-12">The 6 climate-tech startups that top VCs can't stop talking about</a>There's some fear that the sector could go bust again. But this time around, what industry professionals call cleantech 2.0 is "fundamentally different," according to Emily Kirsch, the CEO and founder of Powerhouse, a cleantech innovation firm and venture fund.For one, a spate of major corporations including <a href="https://www.businessinsider.com/oil-company-bp-solar-energy-strategy-behemoth-2020-9">oil companies</a> and <a href="https://www.businessinsider.com/meet-the-5-buzziest-startups-turning-carbon-emissions-into-profit-2020-1">tech firms</a> have committed to lowering their emissions over the next three decades, Kirsch said. Meanwhile, the cost of renewable <keyword id="6357014" type="ORGANIZATION" weightage="100" keywordseo="energy">energy</keyword> <a href="https://www.irena.org/costs">has fallen dramatically</a>.The incoming US administration <a href="https://www.businessinsider.com/biden-introduces-historic-climate-a-team-for-energy-agenda-2020-12">has shown strong support for clean energy to boot</a>. "We've never been more excited about the state of climate technology than we are now," Kirsch said. <div type="image" title="Terramera" height="2400" width="3600" msid="80138397" hostid="261"></div>VCs have no shortage of companies to choose from. In the PwC report, which focused on climate tech, the firm identified more than 1,200 startups working on a wide range of technologies, from fusion energy to plant-based proteins. What they share is a product that helps lower carbon emissions. Read more: <a href="https://www.businessinsider.com/vinod-khosla-interview-strategy-for-investing-in-climate-tech-2020-12">Billionaire investor Vinod Khosla shares the 4 most promising sectors he's betting on in the booming climate-tech industry</a>Some climate-tech startups are already household names, like Impossible Foods, while others are starting to gain steam and pull in major investors including <a href="https://www.businessinsider.com/form-energy-battery-startup-disrupting-the-industry-2020-1">Form Energy</a>. Many more still are working on promising tech that flies under the radar of mainstream investors. With 2021 likely to be a huge year for climate tech, we asked 15 of the top VC firms and incubators which startups they think are set to soar. The firms - ranging from Khosla Ventures to Greentown Labs - offered up <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">46 of them</a>. <h2>The <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">full list</a> is available exclusively to Business Insider subscribers. <a href="https://www.businessinsider.com/climate-tech-startups-to-watch-in-2021-according-to-vcs-2020-12">Click here to continue reading.</a></h2>

Top VCs name the 46 climate-tech startups to watch in 2021

For a long period of time, India was just a low-cost destination for some of the world's largest companies, from where they could get their back-office software projects started. However, with the advent of life-altering technology and start-ups, this trend started to change. 
 
This week, top executives of some of the world's biggest technology buyers including Toyota Motor Corp, Colgate-Palmolive and telecom giant Bharti Airtel will be visiting India’s favourite tech city Bengaluru to attend rapid-fire pitching sessions from Indian software product start-ups such as Aujas, Canvazify and FarEye. 
 
These technology giants have spent several years outsourcing software development and maintenance to India's IT industry, which now stands at $160 billion. Now, they want to leverage India for a different purpose altogether; they now want to get in touch with some of the country's most innovative start-ups. 
 
"India is no longer seen as just a services economy," said Piyush Singh, former CIO of Great American Insurance Co and co-chair of the In-Tech50 event. "A lot of these large Fortune 500 companies have moved beyond leveraging India for IT sourcing and moved on to leveraging top technology talent from countries like India." 
 
The event, which would last for two days, CIOs from around the globe will listen to pitches from more than a dozen start-up entrepreneurs and may even choose to invest in or sign partnerships with them. 
 
The top three start-ups from the event will also receive an offer to join the accelerator programme of Silicon Valley-based business accelerator Plug and Play, from where they can get in touch with potential investors in the US. 
 
<a href="http://static.cision.com/us/wp-content/uploads/2014/01/Making-the-perfect-sales-pitch.jpg">Image source</a>

Tech giants from around the globe are in India to listen to pitches from several Indian start-ups

Exiting a year where startups spread wings across various sectors ranging from e-commerce, hospitality to technology, the next year may see unexplored social impact sectors like healthcare and <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="Education">education</keyword> become the preferred choice for budding entrepreneurs. Moreover, investors feel, much of the groundwork has been laid in 2015 for 2016 to become a watershed year for the emergence of a really strong <keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">startup</keyword> ecosystem in India. 
 
“We will have not only fresh entrepreneurs, but new innovation propositions in sectors like healthcare. Fintech startups is going to be very much part of the flavour. I also feel Agritech will start opening up which will bring valuable and high money into sectors that are extremely critical for India’s economy growth and development,” says Padmaja Ruparel, founder of Indian Angel Network. 
 Echoing her opinion, Saurabh Srivastava, co-founder at IAN and Nasscomm, says: “I see a lot of entrepreneurs creating solutions for what you would call the bottom half of the pyramid. In India, such ideas can also be economically very scalable because of the high poverty levels and the underlying opportunity there. Although we see <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> in many sectors, I think we will see lots happening in the social impact arena, medical devices that government has its focus on etc.” 
 Also, as the member of <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> panel on startups and Indian Aspiration Fund, Saurabh tells us the keen interest with which government bodies are working for creating a favorable ecosystem for Indian entrepreneurs. “A big focus area in SEBI committee is on how do we accelerate the flow of capital to startups, how more domestic capital should flow into startups. SEBI, Niti Aayog and several other wings are working on such areas and there is an amazing degree of openness and wish to support,” he says. 
 
Meanwhile, it seems the angel investor community is also expanding in India along with the rise of startup culture. Padmaja says: “Investment is like marriage for angel investors. They invest but what they look for is a divorce and hefty alimony. I think this cycle has started happening at Indian Angel Network (IAN), where people are getting cash exits and returns. I look at this as maturing of the angel ecosystem and I only see this growing in the coming year.” 
 
“Moreover, entrepreneurs today are also looking for fundings. The moment they get it, they will startup. It’s a symbiotic relationship between the two,” she adds.

It's no more Tech! Here's what will be the preferred choice for startups in 2016

As VC money disappears amid economic slowdown, tech startups have laid off over 20,000 employees the world over since April, while more than 8,000 employees have lost jobs at the Indian startups led by <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platforms. According to layoff aggregator <keyword id="6357067" type="General" weightage="80" keywordseo="layoffs" source="Orion">Layoffs</keyword>.fyi at least 20,514 people have lost their jobs at tech startups globally since April globally and the US is leading the race. The number doubled over the past two weeks, indicating that the labour market for the sector has taken a turn for the worse, reports Nikkei Asia. Ironically, this figure does not take contractual workers into accounts which have lost their jobs in the startup funding winter. The job loss has reached two-year high among the startup ecosystem that once churned out unicorns after unicorns. More than 15,000 people working in the technology sector lost their job in the month of May alone, as global macro-economic factors hit companies, especially startups. According to layoff aggregator layoffs.fyi, more than 15,000 tech workers have lost their jobs this month, reports TechCrunch. Since March 2020 when the Covid-19 pandemic started, more than 1.3 lakh employees have been laid off by around 718 startups globally. Tech companies are facing multiple issues like rising inflation, high interest rates, economic slowdown and the Russia-Ukraine war. The situation is set to get worse with recession looming and funding drying up. Several large investment firms like Sequoia Capital, Lightspeed Venture Partners, Craft Ventures, and Y Combinator etc have sent memos and footnotes to their portfolio companies and startups on how to endure the ongoing crisis. The VC firms are advising startups to focus on sustainable growth, reduce cash burn, cut costs and understand that an economic recovery may be 18-24 months away. With capital becoming scarce, Sequoia Capital told its founders' community to tighten the belt and focus on profitability. Realising that 'funding winter' has finally set in after a strong rally of more than two years in the pandemic that allowed Internet-driven startups to grow exponentially across the spectrum, large investment firms are now parking their funds in Blockchain/Web3.0 and gaming-based startups. <keyword id="8918130" type="General" weightage="80" keywordseo="binance-labs" source="Orion">Binance Labs</keyword>, the venture capital and incubation arm of leading cryptocurrency exchange Binance, has announced the closing of a $500 million investment fund to boost Blockchain, Web3.0 and value-building technologies. The new fund will invest in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3.0 and Blockchain technologies. Earlier, US-based investment firm Andreessen Horowitz (A16Z) announced two new funds -- a massive $4.5 billion fund for crypto and Blockchain companies and Web3.0 startups and a $600 million 'Games Fund One' that is exclusively focused on the gaming industry. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/jeff-bezos-blue-origin-to-launch-its-fifth-tourist-flight-to-space-on-june-4/articleshow/91956366.cms">Jeff Bezos' Blue Origin to launch its fifth tourist flight to space on June 4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/bcci-president-sourav-ganguly-joins-hands-with-edtech-startup-classplus/articleshow/91961705.cms">BCCI President Sourav Ganguly joins hands with edtech startup 'Classplus'</a>

Tech startups lay off over 20k employees amid economic slowdown and Russia-Ukraine war: report

<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

<ul class="summary-list"><li>We asked hundreds of top venture capitalists to name the most promising startups of 2022. </li><li>VCs were asked to name companies inside and outside of their portfolios.</li></ul>Each year, we reach out to hundreds of VCs at nearly 100 firms and ask them to tell us which early stage startups are the most promising of the year.VCs were asked to name startups within their portfolio — after all, they liked those startups so much they invested — as well as outside their portfolios — after all, they are the startup experts and can't invest in them all.And they were also asked to name startups across all stages, particularly earlier-stage companies that are not widely known.This year, our research was particularly insightful because it's been a tumultuous time in startup land. VCs have grown <a href="https://www.businessinsider.com/economic-downturn-venture-capitalists-advice-for-startups-sequoia-a16z-2022-5">tighter with investments</a> and startups that were not well-prepared to weather the cold have struggled.Layoffs have even hit some of the darling industries of 2021 like <a href="https://www.businessinsider.com/fintechs-layoffs-job-cuts-tech-bubble-bursts-robinhood-2022-5">fintech</a>, <a href="https://www.businessinsider.com/digital-health-startups-lay-off-employees-2022-6">healthtech</a>, and <a href="https://www.businessinsider.com/real-estate-tech-layoffs-25-companies-that-have-laid-people-off-2022-7">proptech.</a>Below, we list hundreds of the most promising startups of 2022, sorted by industry.<h2>Advertising tech:</h2><a href="https://www.businessinsider.com/the-19-most-promising-adtech-startups-of-2022-according-vcs-2022-9?r=startups2022">The 19 most promising advertising and marketing tech startups of 2022, according to VCs</a><h2>Artificial intelligence:</h2><a href="https://www.businessinsider.com/13-most-promising-earlier-stage-ai-startups-this-year-2022-11">The 13 most promising early-stage artificial-intelligence startups of 2022, according to VCs investing in companies building technical infrastructure and developing tools</a><h2>Biotech:</h2><a href="https://www.businessinsider.com/list-top-biotech-startups-vcs-investors-new-companies-2022-7">Meet the 23 biotech startups that are set to take off in the next 12 months, according to top VCs</a><h2>Boston-area biotech:</h2><a href="https://www.businessinsider.com/top-10-biotech-startups-in-the-boston-area-2022-8">10 Boston-area biotechs that VCs say are poised to take off in the next year</a><h2>Business-to-business (B2B) marketplaces:</h2><a href="https://www.businessinsider.com/most-promising-b2b-marketplaces-according-to-investors-startups-2022-11">23 of the most promising B2B marketplaces of 2022, according to investors</a><h2>Climate tech:</h2><a href="https://www.businessinsider.com/most-promising-climate-tech-startups-picked-by-top-vcs-2022-8?r=startups2022">The 37 most promising climate-tech startups of 2022, from microplastics to toilets, according to top VCs</a><h2>Cloud computing and Software-as-a-Service:</h2><a href="https://www.businessinsider.com/most-promising-saas-startups-of-2022-according-to-vcs-2022-10?r=startups2022">The 16 most promising cloud-software startups of 2022, according to VCs</a><h2>Consumer tech: </h2><a href="https://www.businessinsider.com/most-promising-consumer-tech-startups-of-2022-8?r=startups2022">The 27 most promising consumer startups of 2022, according to VCs</a><h2>Creator economy:</h2><a href="https://www.businessinsider.com/top-14-creator-economy-influencer-startups-according-to-vcs-2022-9">The 14 most promising creator economy startups of 2022, according to top VCs</a><h2>Crypto:</h2><a href="https://www.businessinsider.com/most-promising-crypto-web3-startups-of-2022-2022-9?r=startups2022">The 53 most promising crypto startups of 2022, according to VCs</a><h2>Cybersecurity:</h2><a href="https://www.businessinsider.com/13-most-promising-cybersecurity-startups-security-2022-9">The 13 most promising cybersecurity startups of 2022, according to VCs</a><h2>Education tech: </h2><a href="https://www.businessinsider.com/23-most-promising-edtech-startups-2022-according-to-vcs-2022-8?r=startups2022">23 of the most promising edtech startups of 2022, according to top edtech VCs</a><h2>Fintech:</h2><a href="https://www.businessinsider.com/fintech-startups-best-promising-technology-trading-banking-investing-2022-9?r=startups2022">The 61 most promising fintechs changing the world of banking, trading, and investing, according to top investors</a><h2>Health tech:</h2><a href="https://www.businessinsider.com/21-most-promising-health-tech-startups-2022-according-to-vcs-2022-8?r=startups2022">The 21 most promising healthtech startups of 2022, according to top VCs</a><h2>Real estate/property tech:</h2><a href="https://www.businessinsider.com/real-estate-promising-proptech-startups-investors-vcs-2022-9?r=startups2022">The 21 most promising proptech startups of 2022, according to VCs</a><h2>Retail tech:</h2><a href="https://www.businessinsider.com/venture-capitalists-name-most-promising-2022-retail-startups-2022-8?r=startups2022">24 of the most promising retail startups of 2022, according to top VCs</a><h2>Supply chain tech:</h2><a href="https://www.businessinsider.com/supply-chain-startups-to-watch-2022-8?r=startups2022" target="_blank" rel="noopener noreferrer">VCs reveal 41 supply chain startups they're betting on to help solve global logistics chaos</a><h2>Transportation sustainability tech:</h2><a href="https://www.businessinsider.com/top-sustainability-startups-according-to-vcs-2022-4">The 36 most promising sustainability startups in transportation, according to top VCs</a><h2>Women's health tech:</h2><a href="https://www.businessinsider.com/35-most-promising-femtech-startups-investors-women-health-2022-10">34 of the most promising women's health startups of 2022, according to VCs</a>

Over 460 of the most promising startups of 2022 in edtech, fintech, crypto, cloud, proptech and more, according to VCs

<div class="image-container display-table float_right click-to-enlarge"><div><div class="image"><a title_source="" title_caption="What do you MEAN you haven't been to Coffee Shop?!" class="zoomin" href="http://static3.businessinsider.com/image/4faa89d7ecad04170300001b-960/coffee-shop.jpg"></a><a href="https://foursquare.com/v/the-scratcher/3fd66200f964a520c9e41ee3">Foursquare</a>What do you MEAN you haven't been to Coffee Shop?!</div></div></div>New York City really isn't all that big. And when you break it down into the trendy areas where tech professionals hang out, it becomes a very small world indeed.
At certain coffee and drink spots in Flatiron, Union Square and SoHo districts, you're sure to be arm's length from VC pitches, networking lunches, and startup parties.
We polled a bunch of different cool kids in tech and looked at venues on Foursquare to create a list of 31 tried-and-true tech hotspots in New York. Schedule your next meetings here.

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