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<ul><li>Saksham, the <keyword id="13004400" type="General" weightage="20" keywordseo="Entrepreneurship-Cell-of-IIM-Udaipur" source="Orion">Entrepreneurship Cell of IIM Udaipur</keyword>, is organising its third and largest e-Summit 2022 with the theme “Zilch to Zillion: Celebrating a Decade of Unicorns”.</li><li>The summit will be held on 23rd January 2022 virtually.</li><li>Representatives from top-tier VCs like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be joining as speakers and panelists.</li></ul>Saksham, the Entrepreneurship Cell of Indian Institute of Management, Udaipur, is organising its third and largest E-Summit 2022 with the theme ‘Zilch to Zillion: Celebrating a Decade of <keyword id="2023017" type="General" weightage="80" keywordseo="unicorns" source="Orion">Unicorns</keyword>’ on 23rd January 2022 in a virtual format. The aim of the summit is to honour the efforts and celebrate the accomplishments of all rising entrepreneurs. The E-summit will provide a forum to brainstorm and discuss innovation and ingenuity demonstrated by Indian entrepreneurs that have helped India’s unicorns (companies with valuation more than $1B) gain a combined market cap of $240 billion. Even as India is rapidly enhancing its start-up ecosystem, it still needs to climb 67 positions to top the Global Entrepreneurship Index, an indicator of the overall entrepreneurial potential of a nation. Prof. Janat Shah, Director, <keyword id="349500" type="General" weightage="20" keywordseo="IIM-Udaipur" source="Orion">IIM Udaipur</keyword> said, “Management schools in India are emerging as the breeding grounds for start-ups, especially Unicorns, by creating an enabling environment in curricula and bringing together key enablers of the ecosystem.” “Entrepreneurship is one of the core values of IIM Udaipur, and the institute is committed to nurturing future leaders and entrepreneurs who will power their organizations, create innovations in products and services in the emerging economies,” he added. Yashish Dahiya (Co-Founder and CEO, Policy Bazaar) and <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword> (CEO, upGrad) will throw light on how to shape the entrepreneurship landscape and leapfrog to the top league, as the keynote speakers. Other eminent speakers at the E-Summit ’22 are Prashant Pitti (Co-founder, EaseMyTrip), Ishan Bansal (Co-founder, Groww) and <keyword id="3014325" type="General" weightage="20" keywordseo="amit-kumar-agrawal" source="Orion">Amit Kumar Agrawal</keyword> (Founder, NoBroker), who will all be covering their experiences and learnings from building scaled companies in India. Representatives from top-tier venture capital firms like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be a part of the summit as speakers and panelists. The event is supported by a network of corporates, incubators, media partners, including Secure Meters, TiE Udaipur and Rajasthan Venture Capital Fund. Top upcoming D2C (direct-to-consumer) startups like Ugaoo, InACan and Bombay Shaving company are also partnering with the E-Summit ’22 as “Gifting Partner”, “Experience Partner” and “Grooming Partner” respectively. In the past decade, India has transformed its start-up ecosystem into becoming the third-largest in the world. In 2021, India added 46 Unicorns, doubling the number to over 90. In 2022, It is estimated that over 50 more unicorns will be added to the Indian start-up ecosystem. Disclaimer: Business Insider India is a media partner to the event.

IIM Udaipur kicks off its third Entrepreneurship Summit, India’s unicorns to be in focus

<ul class="summary-list"><li>Jack Altman is stepping back as Lattice CEO, the HR software startup he cofounded eight years ago.</li><li>He tells Business Insider that he wants to return to building at the early stages of a company.</li></ul>Jack Altman is the second <a target="_blank" href="https://www.businessinsider.com/sam-altman-ousted-fired-openai-ceo-chatgpt-maker-2023-11">Altman brother to drop the CEO title</a> in the last month — but this time, it's of his own accord. Earlier this week, Lattice announced it was bringing on a new CEO — former Salesforce executive Sarah Joyce Franklin — and that Altman would step down from his role and become executive chairman, eight years after founding the human-resources software startup.These past few years, Jack Altman, who is <a target="_blank" href="https://www.businessinsider.com/sam-altman-openai-chatgpt-worldcoin-helion-future-tech-2023-4">Sam Altman's</a> brother, led the enterprise unicorn through a period of rapid expansion, largely fueled by a tight labor market and rise of remote work, and then a restructuring as businesses — and Lattice's would-be customers — reined in their software spending. Now, Lattice is preparing for a new phase of <a target="_blank" href="https://www.businessinsider.com/allbirds-cofounder-startups-profitable-before-going-public-ipo-2023-11">sustainable growth</a>, according to company insiders.In an exclusive interview with Business Insider, Altman said he fell out of wanting to run a late-stage startup these past few years, as the challenges and scope of the work evolved. He told us he plans to return to his first love: the earliest stages of company-building."I love early stage — it's always what I've loved — and I happened to add another love," he said, referring to Lattice.He said he felt a "first inkling" of wanting to move on during the '"highest of highs," when the company was blitzscaling in 2021. He says as a company scales up, "the role of a CEO just changes dramatically."But the passion fizzled and he started to look for a successor after realizing he wasn't going to be able to give his "absolute everything to the company." A former employee of social commerce company Teespring, <a target="_blank" href="https://www.businessinsider.com/startup-paying-employees-100k-to-start-company-2021-12">Altman helped found Lattice in 2015</a> and built it into one of the most valuable startups in the human-resources space. The pandemic spurred a surge in demand as employers grappled with a changing workplace, catapulting Lattice from a luxury to a service seen by some people leaders as essential. In the heady days of 2021, Lattice <a target="_blank" href="https://www.businessinsider.com/hr-tech-startup-lattice-raises-series-f-funding-triples-valuation-2022-1">tripled its valuation</a> to $3 billion in a $175 million funding round.<h2>Lattice's crucible moment</h2>The funds largely paid for a new product that took a year and a half to develop, and reimagines how companies use Lattice. For most of its life, the company focused on point solutions — tools used to fix a particular problem — for tasks like performance reviews and workforce surveys. Then, in September, it launched an all-in-one human-resources information system — a database that collects and sorts all of the important information about employees, and feeds the right details to those point solutions and third-party apps. In time, the move may turn out to be the company's saving grace.Sales have slowed amid a dire situation in startup land. Companies that raised funding in 2021's frothy market <a target="_blank" href="https://www.businessinsider.com/silicon-valley-fears-exctinction-event-startup-failure-rate-increase-2023-6">have less than 12 months of runway</a> in the bank. They're going back out to raise their next round, <a target="_blank" href="https://www.businessinsider.com/late-stage-startups-vc-lack-funding-forced-shut-down-2023-10">facing venture funds less willing to write checks</a>. And so executives are ruthlessly cutting costs to survive."Every CFO in the world is out there right now looking at every single software expense and just pruning," Altman said.For Lattice, the slowdown forced its own hard decisions. In January, the company laid off 105 employees, mostly recruiters and salespeople, ensuring the company "builds with efficiency and financial health more prominently in mind," he wrote in a <a target="_blank" href="https://lattice.com/blog/ceo-jack-altmans-email-to-lattice-employees">blog post</a> at the time.In her new role, Franklin will be responsible for shepherding the company through a crucible moment for business tools, as savings-savvy executives take a closer look at the money they're spending on software. They <a target="_blank" href="https://www.businessinsider.com/2024-tech-trends-predictions-top-vcs">will try to negotiate costs</a> for services they want to renew, cancel others, and consolidate vendors. For Lattice, the silver lining is rising demand for services that bundle lots of point solutions, like Lattice HRIS."We had always known that the long-term path included being the system of record," Altman said. "In some ways, it's lucky that there's a downturn and that we have this [HRIS] because it's more important now. We'd still be better off — as all software companies would be — if we weren't in a downturn. So it kind of cuts both ways."<div type="image" title="Jack Altman is stepping down as chief executive officer of Lattice and has named Salesforce executive Sarah Joyce Franklin as his successor." height="1996" width="2661" msid="105994068" hostid="261"></div>The company is now charting a <a target="_blank" href="https://www.businessinsider.com/hinge-health-ipo-2024-physical-therapy-startup-profitability-2023-10">course to profitability</a>, according to Lattice CFO Gabe Cortes. The strategy includes spending less to acquire new customers for its more mature products and putting more resources behind growing the full-stack solution.Altman says the company doesn't need to fundraise right now. It's pulled in $330 million from investors to date and has "plenty of cash" in the tank, he added. Even as growth slows, the company is still generating revenue that covers a growing share of its expenses."The burn is reasonable and coming down," Altman said. "Hopefully we don't need to fundraise ever."<h2>Leadership shakeup</h2>Franklin is far from the only new face in Lattice's upper ranks.Lattice has quietly reshuffled the executive suite this year. A closer look at its website team page reveals the changes: It promoted Stephen Poletto, head of engineering, to chief technology officer in February; in March, it hired Eric Schuchman as chief product officer and Stan Massueras as a general manager overseeing its international business; Elizabeth Walton Egan arrived in May to take over the role of chief marketing officer. And previous CFO Josh Brown left this fall as Cortes, who previously worked in finance at Workday, stepped in.Altman's Lattice cofounder, Eric Koslow, left in 2022 to pursue a new venture in the video content-creation space.According to Altman, the shakeup marks a successful transition of <a target="_blank" href="https://www.businessinsider.com/comparably-large-companies-highly-rated-leadership-teams-2022-7">executive teams</a> for the first time in the company's eight-year history. He said some of the outgoing executives wanted to join earlier-stage companies or start their own; some of them may have stayed in their positions longer than they ordinarily would have because business was taking off in the post-pandemic tech boom.<h2>Lattice isn't exploring an IPO</h2>Slowing growth. Focus on profits. New leadership. Some people might suggest these changes all-together indicate that Lattice may be bracing itself to <a target="_blank" href="https://www.businessinsider.com/a-lackluster-return-for-tech-ipos-2023-9">go public when the market reopens</a>. The company wouldn't be the first to supplant its founder with a more seasoned executive who can ready the firm for a public offering. The board of Instacart replaced founder and chief executive <a target="_blank" href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9">Apoorva Mehta</a> with Fidji Simo of Facebook following a messy dispute with investors.However, Altman denied that a public offering is imminent. Lattice, which was last valued at $3 billion, is a much smaller company than software firms like <a target="_blank" href="https://www.businessinsider.com/instacart-klaviyo-profitable-lead-tech-ipo-revival-2023-8">Instacart and Klaviyo that took the plunge</a> this year, says Altman. The <a target="_blank" href="https://www.businessinsider.com/a-lackluster-return-for-tech-ipos-2023-9">market's tepid response</a> to those offerings has likely deterred other candidates from wading into the markets.Lattice is not yet <a target="_blank" href="https://www.businessinsider.com/allbirds-cofounder-startups-profitable-before-going-public-ipo-2023-11">profitable</a>, which has emerged as a key ingredient for going public."There are certain markets you would IPO Lattice into right now," Altman said. "This is not one of 'em."Got a tip? Contact Melia Russell at mrussell@insider.com or through text or encrypted messaging app Signal at 603-913-3085.

Jack Altman led his software unicorn Lattice through blitzscaling and a restructuring. Now he's stepping back at a crucible moment for tech.

<keyword id="46431" type="General" weightage="100" keywordseo="india-inc" source="Orion">India Inc</keyword> saw steepest decline in deal values owing to the lack of big-ticket investments last month, registering 171 mergers and acquisitions (M&amp;A) and private equity (PE) deals valued at $2 billion, a new report has shown. At $280 million for 32 deals in July, the M&amp;A deals witnessed significant downtrend both in terms of deal volumes, by 14 per cent, and deal values by 95 per cent, according to <keyword id="10410446" type="General" weightage="80" keywordseo="grant-thornton-bharat" source="Orion">Grant Thornton Bharat</keyword> <keyword id="2516432" type="General" weightage="80" keywordseo="dealtracker" source="Orion">Dealtracker</keyword> report. Cross-border transactions recorded the second lowest, both in terms of deal volumes and values in the last 12 months owing to global tensions. With 28 per cent of M&amp;A deal volumes each, the start-up and IT sectors continued to dominate deal activity with nine deals each cumulatively valued at $162 million. "Like many other countries, Asia's third-largest economy has also been grappling with soaring inflation, aggravated by rising commodity prices. A weaker rupee has further bumped up imported inflation," said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat. Nevertheless, start-up, e-commerce and IT led the deal volumes for the month, while "infra, pharma, retail and banking sectors topped the overall value". "The month saw the birth of only one <keyword id="152045" type="General" weightage="50" keywordseo="unicorn" source="Orion">Unicorn</keyword>, OneCard, in the fintech segment," she mentioned. While M&amp;A deal activity saw an uptick in deal volumes compared to June, which saw the lowest monthly volumes in the last 19 months, the deal values saw a decline due to lack of high-value transactions and non-disclosure of values in the majority of the deals. The PE landscape saw 139 deals valued at $1.7 billion. While PE transactions continued to account for over 80 per cent of overall deal activity, deal values witnessed a significant decline. "The start-up sector continued to drive the PE deal volumes for July 2022 with a 70 per cent share of volumes, with investment values of $0.6 billion," the report said. The retail tech segment led the investment volumes in the start-up sector with 20 per cent deals, followed by enterprise application and infrastructure and fintech at 18 per cent each. The year-to-date (<keyword id="352279" type="General" weightage="80" keywordseo="ytd" source="Orion">YTD</keyword>) 2022 recorded 17 initial public offerings (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) with an issue size of $6 billion, compared to 28 IPO issues, raising $7 billion in YTD 2021, the report mentioned. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/all-india-consumer-price-index-for-agricultural-rural-labourers-rose-in-july/articleshow/93658813.cms">All-India Consumer Price Index for agricultural, rural labourers rose in July</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/50-of-companies-planning-job-cuts-amid-economic-downturn-report/articleshow/93658712.cms">50% of companies planning job cuts amid economic downturn: Report</a>

India Inc sees steepest decline in deal values: report

<ul><li>5ire, a sustainable <keyword id="6355684" type="General" weightage="20" keywordseo="blockchain" source="Orion">blockchain</keyword> firm in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has secured $100 million Series A funding from UK-based conglomerate SRAM &amp; MRAM. </li><li>5ire claims to be the only sustainable blockchain company from India. </li><li>Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital are among primary private and institutional investors.</li></ul>5ire, a sustainable blockchain network, said that it has raised $100 million in Series A funding, from UK-based SRAM &amp; MRAM group. This round has taken its valuation to $1.5 billion – making it a <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword>, a status given to startups that hit $1 billion in valuation. 5ire claims to be the only green blockchain unicorn in India which rewards its validators and creditors for taking sustainable actions. It is based on the Layer 1 blockchain network (BNB Smartchain, Bitcoin, Ethereum) that can approve transactions without the need of a third network. The company was founded in 2021 by Indian-origin entrepreneurs, <keyword id="9449142" type="General" weightage="80" keywordseo="pratik-gauri" source="Orion">Pratik Gauri</keyword> and Prateek Dwivedi, along with web3 financier <keyword id="13177209" type="General" weightage="80" keywordseo="vilma-mattila" source="Orion">Vilma Mattila</keyword>. “We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. Becoming the world’s first and only sustainable unicorn born out of India in just 11 months, is testimony that we are on the right path. We are moving towards the fifth industrial revolution,” said Pratik Gauri, CEO and Founder of 5ire. The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations. It will also hire the best talent in the industry across functions like product, engineering, marketing etc. Indian <a href="https://www.businessinsider.in/business/startups/news/may-is-the-first-month-of-2022-when-startups-raises-less-than-2-billion/articleshow/92432430.cms">VC funding has slowed down i</a>n the last few months and added to that, cryptocrash too has made investors nervous. However, neither of these trends affected 5ire. “We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways to do things, and 5ire is committed to finding solutions for the 17 UN Sustainable Development Goals,” said Dr Sailesh <keyword id="14442932" type="General" weightage="80" keywordseo="lachu-hiranandani" source="Orion">Lachu Hiranandani</keyword>, chairman of SRAM &amp; MRAM. 5ire has earlier raised funds from Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital alongside others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/why-rbi-wants-international-trade-settlement-in-rupees/articleshow/92850515.cms">Explained: International trade settlement in Rupees and why RBI is doing it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/the-gilded-age-could-be-ending-as-yellow-metals-losing-its-safe-haven-appeal/articleshow/92841178.cms">The Gilded Age could be ending as yellow metal's losing its safe haven appeal</a>

Indian ‘green’ blockchain startup raises $100 million, turns unicorn in a crypto bear market

<keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword> on Tuesday announced its <keyword id="14193636" type="General" weightage="20" keywordseo="Startups-accelerator-programme" source="Orion">startups accelerator programme</keyword> that will nurture about 20 startups led by women founders in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The programme is aimed to help women founders address challenges that are unique to their experience, including fundraising, hiring and many others. The inaugural batch of Google for <keyword id="8826137" type="General" weightage="20" keywordseo="Startups-Accelerator" source="Orion">Startups Accelerator</keyword> - India Women Founders programme will accept up to 20 women-founded/ co-founded startups in India, including startups at the minimum viable product stage, and support them through a three-month programme. The programme will place special focus on areas like access to networks, access to capital, hiring challenges, mentorship and many others which, for a variety of social reasons and low representation, prove challenging for female founders. In addition to these, the curriculum will include workshops and support around AI/ML, Cloud, UX, android, web, product strategy and growth, as well as provide access to a global community of women founders. India is the world's third largest startup capital, trailing only the US and China. It boasts over a 100 unicorns with 22 getting added to the list just in 2022, spanning verticals such as e-commerce, healthtech, fintech and many others. However, only 15 per cent of these <keyword id="3357129" type="General" weightage="20" keywordseo="Indian-unicorns" source="Orion">Indian unicorns</keyword> have one or more women founders. "The new programme is part of a larger effort by Google towards improving the representation of women across different sections of India's digitally-trained workforce, be it entrepreneurship, professionals looking to upskill or young graduates seeking a head start on their career, with the ultimate objective of making technology universally relevant and helpful," the tech giant wrote in a blogpost. The applications for the programme are open till July 10, it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-and-disney-to-get-into-an-intense-bidding-war-for-another-ipl-package-heres-why-it-matters/articleshow/92203554.cms">Mukesh Ambani and Disney to get into an intense bidding war for another IPL package – here’s why it matters</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/elon-musk-lost-as-much-as-mukesh-ambanis-total-wealth-in-2022/articleshow/92203221.cms">Elon Musk lost as much as Mukesh Ambani's total wealth in 2022</a>

You Searched For "Third Unicorn" and got 5 results

IIM Udaipur kicks off its third Entrepreneurship Summit, India’s unicorns to be in focus

BI India Partner

Jack Altman led his software unicorn Lattice through blitzscaling and a restructuring. Now he's stepping back at a crucible moment for tech.

Melia Russell

India Inc sees steepest decline in deal values: report

Indian ‘green’ blockchain startup raises $100 million, turns unicorn in a crypto bear market

Eetika Kapoor

Google to launch accelerator programme for women entrepreneurs in India

IANS

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