Category: Young Turks

G20’s Startup20 a game changer, industry experts weigh in

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a first under India’s Presidency G20 welcomed its newest engagement group called Startup-20. Catalysts of innovation-driven growth, job creation and economic recovery, the G20 startup ecosystem was given its own table.

Home to over 850,000 startups and more than 1,500 unicorns combined the G20 nations form the world’s new economy powerhouse. But, the proverbial “valley of death” with high chance of mortality rate remains a reality for startups and the ongoing funding winter is a fine example of how young companies need support to survive tough economic conditions.

And so, unlocking startup finance emerged as a key priority and the New Delhi Declaration has set an audacious target of raising G20’s investment in the global startup ecosystem to one trillion dollars by 2030.

The Startup-20 Comminuque—crafted by India with representatives of other G20 nations—clearly states there is “very little” harmonization in terms of policy framework, regulatory legacy and market maturity within the group.

Rajan Anandan, Managing Director, Peak XV Partners said, “What this will hopefully do is create sort of a much higher level of awareness, appreciation and also commitment from every government in the G20 in each of the G20 Nations, to focus on startups. India is the third largest startup ecosystem, as we know, and actually government has been very focused on startups over the last seven, or eight years but that is not the case with most of the G20 countries.

Debjani Ghosh, President, NASSCOM said, “The key thing we wanted to do as a group was ensured that every single government realises that startups today are no better to have, but they are a must-have for countries from an economic development perspective. Because if you can change that narrative, and if you can make governments realize the importance of startups as its engines of economic growth, I am so glad that the leader’s deliberation actually called out they use those words I think that was key and I think that was achieved to a very large extent.”

Watch the video for more.

Also Read | Startup Bridge: India and Saudi Arabia seal $3.5 billion deal with 53 MoUs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Rise of celebrity investors, insights from industry experts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A wave of Indian celebrities, including renowned actors Alia Bhatt, Deepika Padukone, and Priyanka Chopra Jonas, as well as cricket legends Sachin Tendulkar, MS Dhoni, and Virat Kohli, are now taking their star power to startups!

Brand endorsements by stars are not a new phenomenon, but celebs are not stopping at just being brand ambassadors, they are now actively engaging with founders and taking early bets in disruptive businesses turning into serious investors.

From chemical-free organic skincare and plant-based meat to millet-made baby food, stars are investing in startups that fit with their philosophy.

Globally too celebrities have been taking stakes in startups — Serena Williams runs a VC fund that backs female and minority-founded companies. Leonardo DiCaprio is putting his money into green businesses.

For startups, besides the celebs’ inherent ability to influence the public, especially on social media platforms, they become powerful advocates for the brand and help build credibility that in turn brings both customers and cash! And for the celebs, their star power gets longevity, and their wealth gets diversified.

To take this discussion forward CNBC-TV18 spoke to Anand Nagarajan, co-founder of Shaka Harry, Param Bhargava, co-founder of The Ayurveda Co and Vedang Patel, co-founder of The Souled Store.

Also Read:What’s Up Wellness raises over Rs 14 crore funding in latest round

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Experienced Indian entrepreneurs-backed DeVC backs 30 early-stage startups

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Decentralized Venture Capital (DeVC), a collective of experienced founders, operators and investors, has announced plans to back at least 50 startups from concept to early traction every year.

With the aim of decentralising early-stage investing by shaping a community-first approach to backing and supporting startups, the DeVC collective provides co-working space, capital support and operating expertise to founders and has funded over 30 startups since inception in 2023.

The DeVC collective invests anywhere between $50K-500K in each startup and also has a supporting fund anchored by Matrix Partners India, with participation from other investors and family offices.

“Through my journey as a founder at The Moms Co., I found the best advice from other founders who became mentors and guides over time,” said Mohit Sadaani, Co-founder of The Moms Co. & DeVC Investor.

To facilitate regular roundtables and mentorship workshops, DeVC is anchored around physical spaces designed to be hubs for the collective and its portfolio companies. The first hub was launched this week in Bangalore.

“I have witnessed the dynamism of the DeVC community and the caliber of startups emerging through the group is remarkable,” said Ashwini Asokan, Founder of Vue.ai & DeVC Investor.

The collective has backed founders building in a diverse range of sectors across Semiconductors, Cleantech, Spacetech, SaaS, Fintech, Consumer Internet, B2B commerce and Web3.

Investments include InspeCity (in-space satellite servicing robots), Blockfenders (blockchain based data infrastructure), Solar Ladder (Solar EPC SaaS), Bidso (tech-enabled OEM) and many more.

The collective’s mentors includes unicorn founders and operators such as Asish Mohapatra (OfBusiness), Vasant Sridhar (OfBusiness), Harshil Mathur (Razorpay), Shashank Kumar (Razorpay), Miten Sampat (CRED), Anurag Sinha (OneCard), Ramakant Sharma (LivSpace) and Rohit Kapoor (Swiggy), among others.

Aakrit Vaish (Haptik), Alex Peter (The Talent Deck), Amit Lakhotia (Park+), Anil Goteti (Scapia), Anoop Dawar (Gitlab), Arvind Parthiban (SuperOps.ai), Ashwini Asokan (Vue.ai), Chirag Taneja (GoKwik), Jitendra Gupta (Jupiter), Mohit Sadaani (The Moms Co.), Naveen Kukreja (PaisaBazaar), Narasimha Reddy (MoEngage), Raviteja Dodda (MoEngage), Revant Bhate (Mosaic Wellness),  Rohit MA (Cloudnine), Sanat Rao (Blocktower) and  Srikrishnan Ganesan (Rocketlane) are also among the mentors of DeVC.

In addition, the collective includes early-stage investors like Rohit MA (PeerCapital), Vishesh Rajaram (Speciale), Aakash Kumar (Matrix Partners India), Rahul Chaudhary (Matrix Partners India) and others.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amazon Prime Video to launch new series; will showcase 10 Indian startups competing to raise unicorn round

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Ecommerce major Amazon is launching a new series “Mission Start Ab,” on Prime Video, which will focus on grassroot entrepreneurs and startups in India. The series launched in partnership with the Office of the Principal Scientific Adviser (PSA) of the government of India, will showcase and support 10 early-stage startups that are creating innovative solutions for the country’s socio-economic development.

“Mission StartAb will not only provide these 10 startups to secure funding but also immerse themselves in simulations and initiatives that really test their abilities to deal with crisis and scale their business. The cornerstone of this initiative is how do we help entrepreneurs who are innovating at grassroots and local levels,” Sushant Sreeram, Country Director, Prime Video India told CNBC-TV18 in an exclusive chat.

“We are not focussed on a specific sector, it will range from agriculture, manufacturing and a whole slew of ideas and businesses. It’s been a year-long journey to identify businesses, small startups and entrepreneurs who are solving a problem statement,” Sreeram said.

“We not only want to give them a platform to raise funding but also be able to provide mentorship. Commiserate with the enthusiasm in startup ecosystem, we need adequate incubators, programs and support systems across the ecosystem,” Sreeram further added.

The seven-episode series will feature entrepreneurs compete to secure funding from three prominent Indian investors and the chance to become India’s next unicorn. The company however did not disclose the investors’ name and also did not shed light on the investment gone behind the initiate. The show is currently in production and will start streaming the series soon.

“We had a lot of interest coming in for the show. Along with Office of the Principal Scientific Adviser, we managed to whittle it down to 10 ventures, of which at least one will definitely become India’s next unicorn,” said Sreeram.

Molbio Diagnostics was the last unicorn to be minted in the Indian startup ecosystem in September last year. The move comes at a time when the Indian startup ecosystem continues to face a challenging funding landscape. The prevailing global uncertainty, combined with geopolitical and economic fragility, has resulted in a freeze on venture capital investments.

Between January and June 2023, the total value of VC investments barely reached $4 billion, which is nearly five times lower than the $18.4 billion secured during the same period in 2022. The current funding trend in India aligns with the global decline, mirroring the challenges faced worldwide.

“I don’t think the startup ecosystem in India has lost any momentum, it continues to be as able and exciting as it has been. The startup ecosystem and the entrepreneurship story in India has never been brighter. What’s important is to focus on entrepreneurs who are creating solutions at a grassroot level in India, has a potential to scale and be applicable across the country and globe. That’s exactly our attempt with Mission StartAb. We are focusing on entrepreneurs who are creating a sustainable, entirely Made-in-India grassroots innovations, who have ventures up and running and how do we help them hit the next level,” added Sreeram.

ALSO READ: Capfort Ventures sets up Rs 200 crore fund to back 40 impact startups in India

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Young Turks explores Findability Sciences: Unleashing power of data in technology world

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a quest to understand the ever-evolving landscape of the technology industry, the Young Turks team recently embarked on a journey across the United States.

Along the way, they had the opportunity to interview Anand Mahurkar, the visionary founder, and CEO of Findability Sciences. In their conversation, Mahurkar shed light on the significance of findability and data utilization in today’s enterprises.

According to Anand Mahurkar, the ability to find information is a fundamental factor for any enterprise’s success. Recognising this crucial aspect, Mahurkar introduced the term “Findability” to encapsulate the concept of efficiently locating and accessing valuable information. This led him to create a pioneering platform that seamlessly connects internal and external, structured and unstructured data, facilitating unified information access.

Mahurkar firmly believes that data is the lifeblood of artificial intelligence (AI). As AI continues to revolutionise industries, the need for high-quality, diverse, and abundant data becomes paramount. Recognising this, Findability Sciences has positioned itself as a catalyst for AI by offering a robust foundation of data accessibility. By ensuring that enterprises have the necessary data at their fingertips, Findability Sciences enables them to leverage AI technologies to their fullest potential.

Also Read | Games24x7 is on track to achieve profitability aided by past investments, says co-founder

Over the past decade or so, there has been an explosive growth in data generation. As technological advancements continue to accelerate, organizations are finding themselves grappling with vast amounts of information. Findability Sciences steps in to assist clients in harnessing the power of this data explosion. Their expertise lies in guiding enterprises through the complex process of data utilization, empowering them to derive actionable insights and make informed decisions.

Also Read | ONDC will create level playing field and path to profitability for restaurants, says Sagar Daryani

Findability Sciences is at the forefront of enabling enterprises to unlock the full potential of their data. By offering comprehensive solutions that facilitate the effective organisation, analysis, and interpretation of information, they empower businesses to extract meaningful value from their data assets. This, in turn, allows organisations to gain a competitive edge in an increasingly data-driven world.

For more details, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Games24x7 is on track to achieve profitability aided by past investments, says co-founder

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Games24x7, a prominent player in the Indian gaming industry, is poised to reap the rewards of its strategic investments over the past two years.

According to Trivikraman Thampy, the co-founder and co-CEO of Games24x7, the company’s strategic approach focuses on unit economics, ensuring that customer acquisition costs remain viable while maximizing the lifetime value of each customer.

Thampy said, “We are going to start seeing dividends now from all the investments that we have made over the last two years. I think we are well on our way to profitability. However, we look at profitability and growth very differently. For us it is a question of when we are going out and acquiring customers, are those customers going to be profitable for us because what we are always looking at is the unit economics of the business.”

He highlighted that Fantasy Sports serve as a prime example of successful monetisation within the gaming industry. He believes that Indian consumers are willing to spend on entertainment that offers tangible value.

Bhavin Pandya, co-founder and co-CEO of Games24x7 highlighted the significance of regulatory changes in the Indian gaming landscape. He added that Games24x7 is closely monitoring regulatory developments, as these changes will provide clarity and pave the way for innovation.

Also Read: Gaming emerges as top violative sector as digital scrutiny intensifies: ASCI

Thampy also anticipates that Games24x7’s next phase of growth will revolve around innovation. He said the company has a robust innovation team, which aims to develop games that meet the acceptable standards set by regulatory authorities.

Watch the video for the entire discussion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ONDC will create level playing field and path to profitability for restaurants, says Sagar Daryani

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

“Burger or biryani, order it on ONDC and see, it gives you a better deal than Zomato and Swiggy.” Excited consumers and their social media chatter have finally given the Open Network for Digital Commerce (ONDC) its “Aha!” moment a year after the government launched it to democratise and increase e-commerce penetration in the country.

The price differential was a result of deep discounts, which were employed after sales failed to take off, despite aggressively scaling the network for a year. Once consumers found out, in just two weeks, orders soared from a few hundred to 25,000 daily orders in early May. Not a bad way to celebrate the first year anniversary!

While many assertions have been made — “e-commerce, the way it is, will become irrelevant”, “Zomato and Swiggy’s duopoly will be broken”, “Digital feudalism and their digital landlords will be unseated” — analysts are cautious. They feel ONDC has a long way to go before it can break through the so-called “walled gardens” of Amazon, Flipkart, Zomato and Swiggy.

More importantly, ONDC has some explaining to do, especially about what it is and what it seeks to become. What we understand today is what it is not. We know it’s not an e-commerce app, not a marketplace, and certainly not a platform. ONDC is a protocol, an enabler, a facilitator. It is India’s next UPI, what UPI did for payments in India, ONDC could do for e-commerce is the assertion.

Also Read: ONDC | Breaking barriers and revolutionising commerce

But despite these assertions, none of the e-commerce giants have yet expressed an interest to join. They say payments are commoditised but, products are not. They are also fearing for their own existence.

Sagar Daryani, the Co-Founder & CEO of Wow! Momo and Vice President of NRAI, asserts that ONDC has the ability to revolutionise the food delivery industry. According to Daryani, the implementation of ONDC has the potential to significantly increase the user base, offering a wider audience for businesses operating within the digital commerce space. Furthermore, Daryani believes that ONDC will pave the way to profitability for restaurants, creating new avenues for success and growth.

“Today you have 467 million social media users, whereas on the aggregator platform you just have 30 million users. So ONDC can go a long way in increasing the user base when it comes to people coming and doing digital ordering. I think ONDC will create path to profitability for the restaurants and at the same time provide level playing field for the fraternity,” Daryani said.

Daryani also emphasised the importance of supporting ONDC in creating disruption within the food delivery business. By fostering innovation and competition, ONDC can drive positive changes in the industry, benefiting both businesses and consumers alike.

Anshoo Sharma, the Co-Founder & CEO of Magicpin, highlights the transformative impact of ONDC on market dynamics. Sharma believes that the implementation of ONDC enables the market to expand significantly, creating more opportunities for businesses to thrive.

Sujith Nair, the CEO of Foundation for Interoperability in Digital Economy (FIDE), emphasises the role of ONDC in building trust within the digital commerce ecosystem. Nair points out that ONDC’s focus on creating a network-level trust framework enhances the credibility of transactions, particularly for early sellers.

Watch video for entire discussion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow