Amid prolonged funding winter, corrections in valuations, and layoffs, startups have set forth critical expectations from the upcoming Interim budget 2024. Scheduled to be presented on February 1 by Finance Minister Nirmala Sitharaman , startup founders expect Union Budget 2024 to offer relief in terms of tax reforms, nurture the R&D and technology environment, and establish a venture capital fund.

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Raising domestic capital funds and retention of talent are a few measures that can strengthen the Indian startups, Infosys cofounder N R Narayana Murthy said in his latest speech at T N Chaturvedi Memorial Lecture 2024, Business Standard said in its report.

Startups in India secured a total of USD 7.8 billion through 1,085 venture capital (VC) funding deals announced from January to December 2023, according to a report by GlobalData. This marks a substantial 37.9 per cent decrease in terms of VC funding deals volume compared to the announcement of 1,748 deals during 2022.

2023 might have been India s lowest funded year in last 5 years as the funding winter continues, but the decade shows good progress. A tech savvy young population, Internet penetration, and an expanding middle class have led to an explosion of startups in India in the past decade

In a setback for Indian startups, a two-judge bench of Madras High Court on January 19 dismissed appeals against Google s app billing policy. The court has however protected these startups for three weeks by asking Google not to delist their mobile applications till then. These companies may now have to approach the Supreme Court, should they wish to appeal against this order.

In August last year, a single judge had dismissed 14 petitions by Indian startups challenging the new user choice billing system by Google. The single judge had observed that the matter falls within the jurisdiction of the Competition Commission of India and that the remedy available under the Competition Act is much more comprehensive than that available before a civil court.

While 2023 saw the lowest funding in seven years for startups, most founders expect 2024 to be better. At least 85 per cent are optimistic about raising their next round at a higher valuation this year, according to a survey conducted by venture debt firm InnoVen Capital.

India is rightly placed to seize the next 10 years as a decisive opportunity to establish itself as an unambiguous global leader in innovation and entrepreneurship. A few examples to highlight her capabilities: in December 2023, India’s stock market capitalisation surpassed $4 trillion, marking a significant achievement and making India the world’s fifth-largest stock market after the US, China, Japan, and Hong Kong.

Throughout 2023, more than 24,000 employees were reportedly laid off by 100 or more Indian startups. Driven by financial constraints and investor expectations for profitability, startups across diverse industries implemented workforce reductions to control expenditures.

Over 100 Indian startups fired more than 24,000 employees in 2023 Startup layoffs in 2023 in India: Over 100 Indian startups fired more than 24,000 employees in 2023. High-profile companies such as Byju s, ShareChat, Swiggy, and Unacademy, all valued at over $1 billion, were among those with the most significant job cuts, Times of India reported citing data from market research firm TheKredible.

Indian startups are hoping for a better year as the majority of them expect higher valuations from investors amid increased focus on profitability and sustainable operations, a recent report stated.

Indian startups are hoping for a better year as the majority of them expect higher valuations from investors amid increased focus on profitability and sustainable operations, a recent report stated.

Indian startups are hoping for a better year as the majority of them expect higher valuations from investors amid increased focus on profitability and sustainable operations, a recent report stated.

In a volatile year for the Indian startup ecosystem, more than 24,000 employees found themselves out of work as over 100 startups grappled with financial constraints and heightened investor demands for profitability. The wave of layoffs, as reported by market research firm TheKredible and covered in a report by The Times of India, underscores the challenges faced by startups across various industries.

Amid an impetus from boards and increasing regulatory scrutiny on governance, IPO-bound Indian startups are on a hunt for chief financial officers (CFO), to bring about sophistication in their finance functions with a focus on profitability and compliance, said investors, startup founders and executive search firms.

Sunicon Ventures closes maiden fund, aims to invest in 20 startups Premium Saloni Jain, founding partner, Sunicon Early-stage venture capital firm Sunicon Ventures has marked the final close of its maiden fund even as it continues to deploy the corpus across technology startups in a variety of domains, a top executive told VCCircle.

Leading startup incubator THub on Thursday announced the selection of 10 startups in partnership with the UK Government s UK India Emerging Tech Exchange Programme . The primary goal of this partnership is to use both nations capabilities in the disciplines of Artificial Intelligence (AI) and Semiconductors.