Prepare for the weekend with TICE Weekend roundup of the top 10 stories for Startup entrepreneurs and students of the new age economy. Stay up-to-date and enlightened with the latest news and insights from the week. Make your Sunday enticing with some excellent reads below!
The world has been witness to an unprecedented surge in satellite launches in recent years, signaling a new era of space exploration. Data from the European Space Agency reveals that the tally of satellites orbiting our planet has crossed the 15,000 mark, with future projections painting a staggering picture – an estimated 70,000 to 100,000 more satellites poised to join this celestial dance within the next 15 years. What sets this wave apart is the notable fact that an overwhelming 80% of these impending satellites are categorized as small satellites, weighing less than 500 kg.
The message "India, I reached my destination, and you too!" was relayed by Chandrayaan-3 after its successful soft-landing on the moon marking a landmark moment in the history of India's space program. India's space program officially began with the establishment of the Indian National Committee for Space Research (INCOSPAR) on August 15, 1962. The committee was later renamed the Indian Space Research Organisation (ISRO) on August 15, 1969. ISRO was formed under the leadership of Dr. Vikram Sarabhai, who is often regarded as the father of the Indian space program.
The landscape of online grocery retail has been witnessing good news in recent past. Zomato posted its first revenue earlier in the month and now Zepto, a Mumbai-headquartered quick commerce startup, has made waves with its recent announcement of raising an impressive $200 million (approximately ₹1,653 crore) in a funding round, earning it the coveted title of a Unicorn.
With the Union Cabinet's resolute commitment to technological growth, the Digital India scheme has garnered extended support through a five-year expansion plan, underpinned by a substantial allocation of Rs 14,903 crore for FY2021-22 to FY2025-26. While the scheme's earlier successes have laid the foundation, the recent expansion's strategic focus on startups and its tangible impact on various sectors have generated significant interest among experts and observers alike.
Entrepreneurs and startups invest significant time and money in attending events and subscribing to mentorship programs, often yielding little tangible business outcomes. While acquiring mentorship and knowledge isn't inherently negative, the lack of resulting business opportunities can lead to frustration and render the exercise futile for entrepreneurs. This raises the question of how startup entrepreneurs can successfully generate business leads alongside mentorship.
As students return to classroom coaching now post-covid, Indian edtech startups encounter challenges. It seems the students are resorting to changing preferences and traditional learning. Striking a balance between virtual and in-person learning becomes crucial for the continued success rather sustainability of the edtech startups.
India's startup ecosystem took center stage at the B20 Summit India 2023, as Amitabh Kant, India's G20 Sherpa, highlighted the remarkable growth of the country's entrepreneurial landscape. In his speech during the second plenary session, Kant emphasized that India's startup movement, primarily led by young entrepreneurs, has become a great national asset, propelling disruption and innovation across various sectors.
In a significant session on the second day of B20, a premier engagement group of the G20 program representing global businesses, industry and finance leaders convened to delve into the urgent matter of "Financing The Climate Transition." The session, moderated by Lynn Forester de Rothschild, CEO of E.L. Rothschild, witnessed a comprehensive dialogue addressing the imperative to mobilize resources and cooperation from both the public and private sectors to effectively tackle climate change challenges.
The North Eastern Region of the country contributes only around 1.21% of the total startups in the country. Also, the Foreign direct Investment in NER, which plays a crucial role in economic development, is less than 1% of India's total FDI. Taking a note of this, the Department for the Development of Startup Ecosystem in North Eastern Region has received a call to action from a Department Related Standing Committee on Development of Trade and Industries in North Eastern Region.
Today marks a special occasion – World Entrepreneurs' Day. On this day, we find ourselves immersed in the essence of TICE – Talent, Idea, Capital, and Entrepreneurship – the very building blocks that pave the way for remarkable ventures to flourish. Talent sets the stage as the first act, where individual strengths and unique abilities lay the foundation for what's to come. Ideas take the spotlight next, birthing the seeds of change. Capital steps in as the third act, providing the resources to transform dreams into tangible reality. And finally, the crescendo arrives with Entrepreneurship, the ultimate stage, where dedication and ingenuity merge to bring the entire performance to life.