India to have 60K start-ups, 100 unicorns of over $1 billion valuation by 2025: TiE

News Network
October 15, 2020

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India is expected to have 60,000 start-ups and 100 companies with valuation of over USD 1 billion by 2025, a TiE Global report, in association with Zinnov, released on Wednesday said.

The report observed that business recovery of start-ups is back on track after the lockdown. However, 12-15 per cent of start-ups are facing risk of survival and a similar percentage of start-ups have closed their business.

"Despite being in the biggest pandemic we have had, India is going to create same numbers of unicorn in 2020 as we did in 2018 and 2019, which is a testament of our strong ecosystem," TiE Delhi-NCR president Rajan Anandan said while sharing the findings of the report.

"We do believe that India is on track to have 60,000 start-up by 2025. We are well on track to have 100 unicorns in India by 2025," he added.

He said investments are also on track for recovery.

TiE Global is a non-profit organization devoted to entrepreneurs in all industries.

There are around 38,000 active start-ups, out of which 26 are unicorns. The start-up ecosystem in India had attracted USD 14.5 billion of funding in 2019, the report titled 'Covid-19 and the antifragility of Indian startup ecosystem' said.

The report said start-ups are expected to create 1.5 to 1.6 million jobs by 2025.

The study included most of the business data till the end of February and compared it with data till the end of September, Anandan said.

According to the report, direct job creation in the start-up ecosystem will remain flat in 2020 as about 25,000 jobs in several sectors like hospitality, mobility, among others, have been lost, while a similar number of jobs have been created in some sectors like edutech, communications, online fitness, among others, .

Online life insurance, over-the-top platforms, electronic e-commerce, online gaming, digital payments, online stock brokerages, online grocery have not only recovered by the end of September to pre-COVID period but also seen growth in the range of 10-50 per cent.

Education technology platforms and online health insurance have recovered up to 200 per cent, while online fitness and online telecommunication start-ups have seen up to 500 per cent recovery, the report said.

Automotive, travel and hospitality, mobility and logistics are among the worst hit segments and there has been a significant drop in their funding.

"There are 15 per cent of Indian start-ups that are at survival risk. We would love to see some program to help the start-ups that are in these sectors," Anandan said.

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News Network
December 1,2020

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Mumbai, Dec 1: Actor-turned-politician Urmila Matondkar joined Shiv Sena, in the presence of party president and Maharashtra Chief Minister Uddhav Thackeray on Tuesday.

Uddhav Thackeray's wife Rashmi Thackeray was also present.

Sena leader and party's MP Sanjay Raut had said on Monday that Urmila Matondkar may join the ranks of the Shiv Sena on December 1.

"She (Urmila Matondkar) may join Shiv Sena tomorrow. She is a Shivsainik. We are happy that she is joining the Shiv Sena. This will strengthen the party's 'mahila aghadi'," Raut told reporters earlier.

Matondkar had last year resigned from the Congress party, a key ally of the Shiv Sena-led Maha Vikas Aghadi government in Maharashtra.

Matondkar had unsuccessfully contested the 2019 Lok Sabha election from the Mumbai North constituency and resigned from the party in September last year citing inaction on the part of "key functionaries of Mumbai Congress".

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Agencies
November 18,2020

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New Delhi, Nov 18: After the Diwali weekend and Bhai Dooj celebrations came to an end, India recorded more than 30 per cent jump in new cases of COVID-19 with 38,617 new cases reported in past 24 hours pushing the cumulative the tally to 89,12,907, data from the Union Health Ministry showed on Wednesday.

The toll rose to 1,30,993 with 474 more deaths in one day. The number of active cases stood at 4,46,805.

As many as 83,35,109 people have recovered from the disease so far.

On Tuesday, India reported 29,164 new COVID-19 cases and 449 deaths. The figure of Wednesday is almost 32 per cent more in the single-day spike.

However, the reason could be a rise in the testing as total 9,37,279 samples were tested on Tuesday after a long weekend of testing eight lakh samples on an average, testing data from the Indian Council of Medical Research showed.

The situation of COVID-19 in Delhi-NCR remained grim. The latest surge has left the healthcare system gasping for relief. The hospital, both government and private hospitals have 10 per cent ICU beds with ventilators, which are extremely crucial for patients with severity.

Apart from severe patients, the patients with moderate symptoms are made to wait hours before admission in the hospitals. Besides, non-Covid patients are running from pillar to post just to acquire a single hospital bed in the capital city.

The situation has forced the Delhi government to reconsider imposing restrictions it lifted months ago. Delhi Chief Minister Arvind Kejriwal has sent a proposal to Lieutenant Governor Anil Baijal and the Centre to consider allowing only 50 people to attend weddings and imposing lockdown in market areas which may emerge as hotspots.

Besides, the district administration of Gautam Budh Nagar decided to randomly test commuters going to Noida from Delhi for the coronavirus from Wednesday. The decision has come amid a surge in coronavirus cases in the capital.

Globally, the coronavirus has infected more than 5.55 crore people and killed 13,36,892, according to Johns Hopkins University.

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Agencies
November 19,2020

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New Delhi, Nov 19: A parliamentary committee questioned Twitter on Thursday over the recent "obscene" tweets by stand-up comedian Kunal Kamra targeting the Supreme Court and the chief justice of India (CJI), and sought reply from the social media giant over the matter within seven days, said the panel's chairperson Meenakshi Lekhi.

This came close on the heels of Twitter apologising in writing to the same parliamentary panel for wrongly showing Ladakh in China and promising to correct the error by the month-end.

Twitter India representatives deposed before the Joint Committee of Parliament on Data Protection Bill on Thursday.

"It is shameful that Twitter is allowing its platform for obscene remarks like the one by stand-up comedian Kunal Kamra against the Supreme Court and the CJI," Lekhi told reporters here.

"Twitter is allowing its platform to be misused for abusing top constitutional authorities, such as Supreme Court and CJI."

She said members of the committee across political spectrum, including Congress MP Vivek Tankha, BSP MP Ritesh Pandey and BJD MP Bhatruhari Mahtab, grilled Twitter representatives on this issue.

Lekhi also said that explanation of Twitter about banning handles and tweets was found to be inadequate.

Meanwhile, Kamra has refused to retract his controversial tweets against the Supreme Court or apologise for them, saying he believes they "speak for themselves".

Earlier, Attorney General K K Venugopal consented to the initiation of criminal contempt proceedings against him for a series of tweets following the apex court giving interim bail to Republic TV Editor-in-Chief Arnab Goswami.

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