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TECH BYTES – Monthly Tech Industry Bulletin March 2023

March 13, 2023 1981 0 nasscom insights

TECH BYTES – Monthly Tech Industry Bulletin March 2023

This monthly industry bulletin is our endeavor to aggregate and feature on a regular basis, key trends and insights shaping the technology sector. The information covered here is collated from publicly available sources and gives a bird’s eye view of what has happened in the technology sector during a particular month. The report will focus on a theme for the month and Industry Facts

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Key Highlights

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Highlights from NASSCOM Reports Released in February 2023

  • Rising Above Uncertainty: The 2022 Saga of Indian Tech Start-ups
  • India GCC Trends Quarterly Analysis Q4CY2022
  • State Of Data Science & AI Skills In India

Theme of the Month: Rising Above Uncertainty: The 2022 Saga of Indian Tech Start-ups

Key Insights

  • Strong ecosystem with New Gen tech start-ups base broadening:
    • 1300+ new tech start-ups, 23 new unicorns (2nd highest in the world)
    • 2022 funding at $18.2 Bn is 30% lower than 2021, higher than last 4-year average in value terms
  • Indian entrepreneurs’ laying emphasis on fundamentals
  • More than half of the tech start-ups in 2022 saw an increase in revenue of>20% (survey findings)
  • Overall, half of the tech start-ups continued or increased hiring in 2022
  • Diversity of Indian tech start-up ecosystem continues to expand:
    • 39% of tech start-ups founded in 2022 from emerging locations in India, up from 34% in 2021
    • 36 unicorns and potential unicorns with at least one women founder/co-founder

Leader Talk: Discussion Series with Industry Experts on Niche Areas of Technology

  1. The Changing Landscape of Indian Tech Startups - Part 1
    Panellists: Fandoro Technologies, Katonic.ai, Mtalkz Mobility Services, NeoITO
  2. State of Data Science and AI Skills in India
    Panellist: Capgemini

Tech Industry Insights- Trending Industry Themes

  • Tech Trends: Indian IT companies continues to collaborate with cloud providers for adoption and harnessing of cloud related technologies around the globe. Indian ER&D companies are helping various companies digitally transform their processes. Indian ER&D companies are partnering with academia, associations, and the govt for jointly developing various solutions, ITIs etc.
  • Tech Start-ups: Tier II and III cities, and rural India to be the new digital natives. The Uttar Pradesh government announced a slew of sops in its Budget 2023-24 for Start-ups.

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



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