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Hello,
The Indian startup ecosystem has come a long way.
The journey began four decades ago when IT services companies like TCS, Infosys and Wipro enabled Indians to dream of a new future. There has been real growth in the last decade and a half, with thousands of startups entering the fray with increasing interest from international investors.
In the year It took 18 years for the ecosystem to reach $100 million in revenue in 2000, down to 5 years in 2017, according to RedSer. In the year In 2022 alone, Indian startups raised $24 billion across 1,000+ deals.
Today, on National Startup Day, Indian startups look forward to solving future challenges, whether it’s mitigating climate change, making agriculture smarter or enabling financial inclusion.
Prime Minister Narendra Modi declared January 16 as National Startup Day last year to celebrate India’s founder and vision to make India a nation of entrepreneurs rather than job seekers.
as if Your storyFor the past decade and a half, we’ve been celebrating startups and entrepreneurship, telling stories of founders bursting with new ideas and companies bringing unique disruptive innovations and growth to India.
Check out our startup stories here.
We will talk about it in today’s newspaper
- Cars24 hits the gas at retail.
- In 2023, the sunrise sectors are expected to light up
- Government schemes for women-led startups
Here’s your trivia for today: How long is the circulatory system of an average adult?
Retail
Cars24 hits the gas at retail.
Used car dealer Cars24 has high ambitions. The company has set a revenue target of Rs 10,000 crore in 3-5 years and wants to achieve profitability in 2-3 years. But how does he plan to run the business and explore new avenues of growth?
Retail transfer:
- To boost retail business, Cars24 has set up seven refurbishing labs in the last two years to refurbish 20,000 cars a month.
- It plans to bring better business efficiency and reduce overall cash burn. CEO Vikram Chopra says the focus is on unit economics.
- Cars24 also aims to double the loan disbursements to buyers by the end of FY23-24 – from Rs 1,000.
National Commencement Day
Sunrise sectors that will shine in 2023
With high digital adoption and growth in consumer internet sectors, early-stage investors have shifted their focus to the rising sectors to address business and sector-specific issues. In the year 2023 promises to restart in sectors that can attract investments.
Sunrise sectors;
- Climate technology startups are developing solutions for energy transition, supply chain decarbonization, future mobility, sustainable agriculture and resource management.
- Indian agritech companies They raised nearly $515 million in 49 deals in 2022, down from $859 million last year.
- Fintech is expected to continue to attract investments in broad-based SME lending, said Anup Jain of Orios Ventures.
National Commencement Day
Government schemes for women-led startups
About 70% of the Rs 19 lakh crore loans given to small businesses by Prime Minister Narendra Modi in September went to women entrepreneurs. Several schemes have been introduced by the central government for women entrepreneurs.
promoting entrepreneurship;
- Bharatiya Mahila Bank is a business loan scheme for women who want to start a real estate or small retail business.
- The Dena Shakti scheme provides women entrepreneurs with loans of up to Rs 20 lakh for horticulture, retail exchange, education and housing.
- Udyogini Scheme provides financial assistance to women to start businesses.
Women entrepreneurs can use government schemes to start and scale.
News and updates
- Jackpot: Swedish mining company LKAB has discovered more than one million tons of rare earth minerals near a mine in the far north of the country. This can greatly increase the production of electric vehicles and other green energy technologies.
- One last hurrah: Video game service Google Stadia will officially shut down on January 18. The team released the latest title, Worm Game, which is inspired by the classic game Snake.
- Breaking records: Prince Harry’s memoir ‘Spare’ breaks record for fastest-selling novel The royal’s account of his family and private life sold 1.43 million copies on its first day in the UK, US and Canada.
How long does the average human circulatory system last?
Answer: Approximately 100,000 miles.
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