Early-stage and pre-series A startups are projected to adopt, but growth- and later-stage startups will continue to be hit hard. Everything you need to know about this is here.
Updated May 4, 2023 | 9:27 PM
80 fewer jobs in Indian start-ups above Rs 500 crore per annum
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According to a report by LONGHOUSE Consulting, an executive search and talent advisory firm, the e-commerce and edtech sectors were hit hard, with employment plummeting by 93% and 84% respectively.
“Early-stage startups in Series A and B level EV, healthcare, AI/ML, fintech, and manufacturing industries are expected to see increased hiring as some roles open up for senior positions. will be done,” he added.
But the startup ecosystem will see a surge of seasoned entrepreneurs looking to launch a second or third venture, and seasoned executives making the switch to entrepreneurship. “The current startup slowdown will stimulate entrepreneurship rather than negatively impact it,” he said.
Indian startups raised a total of $2.8 billion in the first quarter of 2023. This is a significant 75% decrease compared to the same period last year ($11.9 billion). Deepen winter fundraising.
According to a recent report from Tracxn, a leading global market intelligence platform, no new unicorns were created in the January-March period compared to 14 unicorns in Q1 2022.
