
India, Taiwanese space-tech bodies tie up to support startups
The International SpaceTech Startup Support Programme is meant to enable Indian startups showcase their unique capabilities and collaborate with the space sector in Taiwan.
The International SpaceTech Startup Support Programme is meant to enable Indian startups showcase their unique capabilities and collaborate with the space sector in Taiwan.
Rajeev Chandrasekhar said the Indian banking system is resilient and strong and that startups in the country should therefore opt for Indian banks as their preferred banking partners.
The number of funding rounds also declined by 29% to 390 rounds in 2022 as compared to the same period in 2021.
However, the domestic start-ups raised funds more than twice in CY22 against ₹1,090 crore in CY20 and ₹1,280 crore in CY19.
Despite funding to start-ups going towards asset creation and jobs, tax rate and holding period are twice that of listed securities.
Funding in India hit a two-year low of $2.7 billion during Q3CY22, according to estimates by PwC.
As part of the scheme, 88 AIFs have invested ₹11,206 crore in 720 startups as of September 24, 2022.
August managed to reverse the decline in fundraising, despite a 2.3% fall in deal volume; apart from India, VC funding also rises in China.
A new generation of techpreneurs is building new-age solutions and creating companies valued at well over a billion dollars, helped by massive investor funding.
Despite the funding winter, edtech unicorn UpGrad raised another big round of $210 million funding in August .