In the wake of India’s bold decision to liberalise its space sector in 2020, coupled with the recent approval of the Indian Space Policy, the private space industry in the country is experiencing an unprecedented boom, fuelled by the ambitions of numerous startups.

Five startups engaged in various sectors, including electronics manufacturing and healthcare, have received funding of Rs 6.5 crore from the Tamil Nadu government. The sanction of equity investments in the companies was issued under the Tamil Nadu SC/ST Startup Fund by chief minister M K Stalin at an event here organised by StartupTN, a press release said on Thursday.

Five startups engaged in various sectors, including electronics manufacturing and healthcare, have received funding of Rs 6.5 crore from the Tamil Nadu government. The sanction of equity investments in the companies was issued under the Tamil Nadu SC/ST Startup Fund by Chief Minister M K Stalin at an event here organised by StartupTN, a press release said on Thursday.

Funding winter and corporate governance woes separated the men from the boys in the country’s startup space in 2023 that saw funds into the segment tapering to just around USD 8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year.

As the Indian growth story gathers pace, the world looks towards us to provide cutting edge innovations for a new era of smart and sustainable development. At the heart of these high hopes are India’s innovators and entrepreneurs, who are overcoming old challenges using modern technology, and together form the world’s third largest startup ecosystem.

These models are designed to process and innovatively utilise company-specific information. There’s a growing trend among large corporations to collaborate with startups.

Biomedical startups are using artificial intelligence to predict the response patients will have to cancer treatments, aiming to increase the success of drugs in clinical trials and tailor therapies to individuals. As data accumulate from clinical trials and fields such as gene and protein research, AI is helping scientists sift through large volumes of information to uncover signatures that correlate with response—or resistance—to treatment.

Startup Ecosystem in India 2023: Lack of funding and problems related to working methods in the corporate sector affected the country’s startup sector in 2023. Due to which venture capital investment in this region reduced to only around eight billion US dollars

In the first half of 2023, Hyderabad stood sixth among the top 10 cities with only 14 startups able to raise funds, whereas the city ranked fifth in 2022 with total 37 deals closed in H1 of 2022. According to an Entrackr report, in the January to March quarter (Q1) of 2023, edtech startup NxtWave raised $33 million, the third highest in the list of early stage deals.

Israeli startups raised about $7 billion in 2023 versus close to $16 billion in 2022 mainly in the first half of the year before the global economy began to slow. (Image credit: Reuters)Israeli high-tech firms raised $1.5 billion in the fourth quarter of 2023, preliminary data showed on Thursday, in a sign that foreigners are still investing in Israeli startups despite Israel’s war with the Palestinian militant group Hamas.

Gruhas Gusto launches accelerator for foodtech startupsThe programme is being supported by Gruhas Proptech Fund; the Jubilant Bhartia Family Office, a subsidiary of the Jubilant Bhartia Group; the DLF Family Office, the promoter of India’s largest real estate company DLF Ltd; and global venture capital firm Anthill Ventures, along with strategic partnerships with The Hindustan Times, Food Safety Works, CIBA Goa and Upaya Social Ventures, among others.

Shri Mata Vaishno Devi Shrine Board (SMVDSB) has launched an accommodation management system for devotees visiting the holy shrine atop Trikuta hills in Jammu and Kashmir’s Reasi district, an official said on Thursday.(startup)