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1947 Rise ☀️: 226
From 1,000 to 90,000 start-ups
1. From 1,000 to 90,000 start-ups’: Nandan Nilekani hails India story | Business’From 1,000 to 90,000 start-ups’: Nandan Nilekani hails India story | Business
Microsoft CEO Satya Nadella interacted with Infosys Co-founder Nandan Nilekani at Microsoft Future Ready Technology Summit. During the interaction, Nilekani said in 2016, India had 1,000 startups and today India has 90,000 startups.
He also quipped that Infosys is the original startup.
2. Indian startups take 5 years to scale from zero to $100 mn in revenue: Report
With India’s startup ecosystem maturing in the last decade, the time taken by new-age tech companies to reach the $100 million revenue has decreased significantly, as per a study by consultancy firm Redseer Strategy Consultants. The average time taken by startups to scale to $100 million in revenue has now come down to just five years in 2017 from 18 years in 2000, the study pointed out.
There are about 100 unicorns — startups with a valuation of $1 billion or more — and 170 soonicorns, a company with the potential to become a unicorn, in India. Of these 270 companies, more than 40 operating in fintech, ecommerce, and logistics crossed $100 million in revenue as of the financial year 2022, the report said.
A podcast 🎙
Prabhu Rangarajan is truly nurturing the startup ecosystem in India.
- He is leading by example by building M2P Fintech, a legacy company in the making.
- He is enabling other founders through capital and advise.
- And he is bringing a cultural mindset shift at the grassroots level by working with the government of Tamil Nadu.
In this episode we covered:
- What drove Prabhu to Angel Investing and his first angel investment.
- How does Prabhu source deals and evaluate founders and his cheque sizes.
- What are the traits of a mediocre founder according to Prabhu.
- Biggest learnings from Angel Investing
- Initiatives that Prabhu has taken to support founders from Tamil Nadu.
- Prabhu’s advice to operator angels on Angel investing.
- Entrepreneurs that Prabhu admires the most.
- How much of his success does Prabhu attribute to luck.
- What is Prabhu’s relationship with money.
- Who is Prabhu outside of work.
Full conversation: https://bit.ly/3iccmXX
Worth you attention
Nexus Venture eyes $700 million fund to bet on India, US tech startups: Report Link
Advent invests $100 mn in KreditBee’s extended Series D round Link
InsuranceDekho raises Rs 300 Cr in its 1st external investment round led by Goldman Sachs Link
Kedaara, others explore part exit from Lenskart Link
Venture capitalists offer predictions for this year’s fundraising market Link
LEAD to acquire Pearson’s local K-12 learning business in India Link