Technology and Internet
COVID-19 impact on the Indian startup ecosystem: Threats and opportunities
30 Apr 2020
In addition to the negative impact on the major sectors of the Indian economy, the tech startup ecosystem of the country is not immune to the havoc wreaked by COVID-19. A recent survey by Praxis Global Alliance concluded that 37% of the Indian startup CEOs interviewed only had 6 to 12 months of cash reserves left in their bank. The widespread uncertainty in the market clubbed with the curbing of Chinese capital inflow in the economy has resulted in an overall slowdown in the venture capital deal flow in the Indian startup ecosystem. Although some sectors such as— media and entertainment, Edtech, Hyperlocal essential services and fintech has witnessed unprecedented growth in demand the overall impact on the ecosystem has been quite devastating.
Featured business unit: PGA Labs
This article was originally published on Inc 42. Read more.
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