| |DECEMBER 20205 | |January 20204VOL 3 · ISSUE 11 - 2 · DECEMBER - 2020The year 2020 hasn't been even remotely kind to the startup ecosystem. From work from home paradigm to cash management and constantly changing market behaviors, the challenges mounted up against the startup companies over the past 10 months have been humongous. As per reports, it's not only that around 40 percent of startups were hit, but 15 percent among them were forced to shut-down. Reports also say that the Indian startups on an average fired 22 percent of their total employees during this time ­ a fact that adds drastically to the woes. If the catastrophic impact of the pandemic was not bad enough, India's rising geopolitical tensions with China made the survival almost impossible for them. But then again, tech-startups put up an inspiring fight with many of them, especially edtechs and digital transformation providers, even pressing the accelerator pedal. We also had four unicorns amidst the pandemic. It's also important to note that a large queue of IPO aspirants like PhonePe, Mobikwik, Zomato, and Byju's was also formed during the same epoch, while the companies like Happiest Minds already made stellar IPO debuts. It's a great omen. Furthermore, Indian startups funding in Q3 2020 was around $2.8 billion across 261 funding deals, which manifests a 167 percent surge compared to the previous quarter. Surely, the worst times are behind us. Now it's of paramount importance that the startups get ready for the post pandemic scenario. It's a sure bet that it won't be a walk in the park, but if they tackle the cash flow challenges and tune their business strategies to long-term sustainability, revival of the ecosystem is well on. The timely interventions of the Reserve Bank of India by bringing startups under priority lending sector and the Department for Promotion of Industry & Internal Trade by scrapping taxes on various kinds of investments are also aiding the ecosystem significantly. In this issue of Startups of the Year - 2020, we are shedding light one on a few of the startups that have future-proofed their deliverables by manifesting great competitiveness and grown exponentially in 2020.Do let us know your thoughts.Sujith Vasudevan Managing EditorThe Hardest Times are Behind Us!Office Editorial queries editor@cioinsiderindia.comAdvertising Queriessales@cioinsiderindia.comBangaloreTel 080 46441103 To subscribeVisit www.cioinsiderindia.com/subscribe/ or send email to: subscription@cioinsiderindia.comCover price is Rs 150 per issueAshok KumarSales & MarketingGarima AnandGroup Art DirectorMagendran PerumalCirculation ManagerEditorial TeamShiwani PrakashSaroop KPVaishnavi PradeepRajan Sarma Lakshmi GCIOInsiderNo. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017S.SivasankarVetrivel SVisualizerPublisher & EditorManaging EditorAlok ChaturvediSujith VasudevanPrinted and published by Alok Chaturvedi on Behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published at No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2020 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Editorial
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