50% tech startups expect pre-Covid level revenue in 6 months

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New Delhi, Nov 25 | Indian tech start-ups are now witnessing a gradual road to recovery, with over 50 per cent of them saying that they expect revenue to reach pre-Covid level in less than six months, according to a Nasscom survey released on Wednesday.

Revenue acceleration and funding has improved the cash availability with startups, showed the findings of the “Nasscom Start-up Pulse Survey II”.

The IT industry body revisited its first tech startup pulse survey, conducted back in April-May 2020, to understand what the current perspectives are, what has changed and what the next six months look like for the tech start-up ecosystem in the country.

The results showed that 43 per cent of tech start-ups now have a runway for more than six months, compared to eight per cent in the earlier survey.

“The Indian start-up ecosystem has set a global benchmark in remaining resilient during this disruptive year,” Debjani Ghosh, President, Nasscom, said in a statement.

“Setting an example for many other industries across the globe to follow and learn from how Indian start-ups converted challenges into opportunities. A large tech start-ups pool, strong innovation focus and entrepreneur’s zeal have been the growth drivers of this ecosystem.”

The research showed that there has been an increased interest from venture capital and funding agencies to invest in seed-early stage start-ups.

Government initiatives such as Atmanirbhar Bharat, digitalisation of India, a greater focus on sustainable business models is attracting VC interest for Indian tech start-ups, Nasscom said.

Almost 25 per cent of the surveyed start-ups have been able to raise funds or find prospective investors as compared to seven per cent in the earlier survey.

Sectors like edtech, healthtech and Software-as-a-Service (SaaS) continue to attract investor interests.

While the ecosystem continues to be cautious, it is increasingly looking at hiring talent with the right competencies.

As per the findings of the survey, hiring freeze at tech start-ups dropped by 20 per cent.

Digital skills — data, AI, product management, cloud architects — continue to be in high demand across the tech start-up ecosystem, Nasscom said, adding that four Indian startups became unicorns despite the pandemic.

Source: IANS

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From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

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Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

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Your journey to become a digital marketer starts the day you take the step of self-educating yourself and learning the tricks to attract potential customers either by way of Google, Facebook, or any other digital platform by a host of scalable ways on the internet, undoubtedly, digital marketing is the hottest online work from home concept of this decade.

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These are some of the best ways to get started, according to Manthan, all

 

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