Entrepreneur

From SaaS to Reliance effect, here are eight trends that are reshaping pandemic-hit startup world


2,442 startups were founded in 2019 as against just 751 in 2020. Similarly, in 2019, 2,670 startups raised funding as against just 1,222 startups in 2020. But the story of closures, especially of funded startups, wasn’t so bad. Only 32 startups had to shut down in 2020 as against 48 in 2019.

Synopsis

The pandemic has reshaped the startup landscape. Stress took its toll but SaaS sector grasped at new opportunities and biotech firms rose to the Covid-19 challenge. If the border standoff swung the pendulum away from Chinese investors, Reliance created a ripple effect. Here are eight trends in the Startup world.

SaaS HighIn 2020, the pandemic-enforced digitisation gave the SaaS (software as a service) wave a huge tailwind in India. Going into 2021, this will only gain momentum. Haresh Chawla, partner of private equity fund True North, says, “Covid-19 is another Y2K opportunity — even larger in size, scale and impact.” Non-Executive Chairman of Infosys Nandan Nilekani sees in it an “India for the world” opportunity.According to data from Venture

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