India’s startup ecosystem should adapt to tight money conditions
Cash preservation rather than cash burn may be the best mantra for our startups to follow amid high financial uncertainty
India has emerged as the third largest startup ecosystem in the world, with 107 unicorns (startups with valuations of $1 billion or more) with a total valuation of $340.79 billion, as of 7 September 2022. The year 2021 witnessed a record set of 44 entries to the coveted unicorn club, even as many ‘soonicorns’ (soon to be unicorns) waited in line. The promising Indian startup ecosystem is, however, facing serious challenges attributable in part to current global macroeconomic conditions.