Thu. Apr 22nd, 2021

NEWS ABOUT RELAXATION

The Real News Network

Time to track India's start-up frenzy

1 min read

In the first half of last year, one Asian nation took a massive blow to its start-up industry in the wake of the lockdowns that followed the coronavirus pandemic. An estimated one in six of these new businesses shut in the April to June quarter and venture capital flows to the sector shrank 55 per cent, even as the broader economy contracted by nearly a quarter.

In the second half of the year, the same country spawned 12 unicorns – new companies that were getting valuations of US$1 billion (S$1.3 billion) or more. That’s reckoned to be the second highest for unicorns spawned in a single nation last year, behind the United States. Today, this country has 38 unicorns, more than Germany. And 2021 is projected to add another dozen.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article