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NASSCOM Start-up Pulse Survey – Q1 2020: Reviving the Indian Tech Start-up Engine During COVID 19

NASSCOM Start-up Pulse Survey – Q1 2020: Reviving the Indian Tech Start-up Engine During COVID 19” underlines the perspective of Indian entrepreneurs towards the impact of COVID-19 on them. The survey analyses the effect of COVID-19 and its impact on tech start-ups. Of the survey respondents over 60% of them are bootstrapped and majority of them constitute early and mid-stage start-ups with revenue less than INR 1 crore . The report also highlights key opportunities areas where tech start-ups are pivoting towards and provide recommendations to support the tech start-up ecosystem.

Key Highlights

Impact of COVID-19 on Tech Start-ups:

  • COVID-19 is the biggest challenge that India’s nascent tech start-up ecosystem has faced
  • 30-40% tech start-ups have temporarily halted their operations or are in the process of closing down
  • 70% tech start-ups have runway less than 3 months

New Opportunities for Tech Start-ups

  • 54% looking to pivot to new business opportunities
  • 40% want to diversify into growth verticals like Healthcare, Edtech
  • 50% enhancing focus on emerging tech like AI, IoT, Cloud

Support for Tech Start-ups

  • Access to working capital, easing compliances and fiscal policy and funding support – key asks from govt
  • Integrated central-state initiatives on procuring Made in India start-up products and solutions
  • Ecosystem to help drive collaboration, market access

Note: The analysis is based on 250 survey responses of which over 60% are bootstrapped and over 70% are early and mid-stage tech start-ups

 

 


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