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💸 Will Budget 2023 accelerate Digital India?

 
25 JANUARY 2023View in Browser
 
 
 

 

Hello,

 

It’s that time of the year again…

 

The nominations for the 95th Academy Awards were announced last night and guess what? RRR’s Naatu Naatu has been nominated in the Best Song category. After the splash at Golden Globes, will the Telegu epic bag an Oscar as well? Fingers crossed!

 

Other nominations from India include Kartiki Gonsalves’ The Elephant Whisperer in the Documentary Short Film category, as well as Shaunak Sen's All That Breathes in the Best Documentary Feature category.

 

You can check the full list here.

 

Meanwhile, B2B ecommerce player Udaan reported a 43% increase in losses for FY22 even as its revenue jumped nearly 34%. As for its consolidated expenses, costs increased 42.63% to Rs 2,454 crore, mostly on account of increase in employee benefit expenses and contract costs.

 

ICYMI: YouTubers are helping small business owners in Delhi’s famous Chandni Chowk bazaar find customers.

 

Trade secret: Go viral or go home?

 

In today’s newsletter, we will talk about 

  1. Budget 2023’s impact on Digital India
  2. Agritech sector hopes for growth
  3. Innovaccer lays off 15% workforce

 

Here’s your trivia for today: Where was the first Winter Olympic Games held?

 
 

Budget 2023

 

Tech industry hopes for accelerated Digital India

 
 

India's tech industry has been pushing for growth, supported last year by the government promoting the digital economy and fintech-enabled development. This year, the sector is hoping the Budget will further push the agenda of Digital India with initiatives around skilling and AI.

 

Key suggestions:

  1. The government and the industry need to focus on upskilling employees, especially in the area of emerging technologies.
  2. The Budget is expected to provide new incentives to encourage R&D investments into newer technology.
  3. The industry also expects processes that make the movement of goods easier, as well as simpler permissions for special economic zones (SEZs).

Read more

 
 
 

Funding Alert

 

1) Ecozen: $25M| Series C

2) Landeed: $8.3M| Seed

3) Gramophone: Rs 9.3 Cr| Undisclosed

 
 
 

Budget 2023

 

Agritech seeks stable policy, awareness initiatives

 
 

Last year's Budget was the first to mention the term "agritech". This year, the reigning opinion is that a lot needs to be done on-ground to make it easier for agritech startups to operate, given the complexity of factors they deal with on an everyday basis.

 

Factors for growth:

  1. A stable and clear export policy to help India emerge as a major agri exporter.
  2. Reduce the number of licensing requirements and digitalise/centralise the processes.
  3. Introduce service-linked incentives for the drone industry and match on-paper rules with ground realities.

Read more

 
 
 

Corporate

 

Innovaccer lays off 15% workforce

 
 

Healthtech unicorn Innovaccer has laid off about 15% of its workforce across teams in India and US.  "We are taking the much-needed step of doubling down on our core capabilities and streamlining our organisational focus," said Abhinav Shashank, Co-founder and CEO, Innovaccer, in a statement to YourStory, adding that the company is “going to deprioritise certain areas and offerings that distract us from our core portfolio”.

 

Job loss:

  1. In an internal mail, Abhinav blamed “uncertain macroeconomic environment” for the job cuts.
  2. In September, the company let go of 90 employees across various departments in a cost-cutting move.
  3. Recently, ShareChat laid off 20% of its workforce while Hubilo laid off 35% of its employees.

Read more

 
 
 

News & Updates

 
  1. Healthy add-on: Amazon announced a new prescription perk for US Prime members, hoping to boost subscriptions and attract users to its pharmacy service. Called RxPass, it will allow Prime members to get as many drugs as they need from a list of 50 generic medications.
  2. A bitter taste: Consumer Reports urged four chocolate producers—Hershey, Mondelez, Theo Chocolate, and Trader Joe's—to commit by Valentine's Day to reduce the amounts of lead and cadmium in their dark chocolate products, after testing revealed harmful levels of the heavy metals.
  3. Carbon-free: As countries are desperate to lower emissions and reach climate goals, the world also faces a shortage of traditional fossil fuels. The answer to this contradiction has taken an unlikely turn: Keep nuclear reactors running for far longer than anyone ever expected.
 
 
 
 

Here's what else we have for you

 
 
 
 

Take a leap with the i3 Launchpad Program and achieve sustainable growth with tailored mentorship

In association with India Accelerator

If you’re a startup with disruptive ideas, don’t miss this opportunity to receive seed funding and tailored mentorship. The i3 Launchpad program by India Accelerator also offers strategic partnerships for market access and growth!
 
 
 
 

Titans 4.0 | Episode 1: Industry 4.0 global and local trends, and the need for ‘All.Together.Now'

In association with Plugin Alliance

 

In the first episode of Titans 4.0 — an exclusive Industry 4.0 leadership interview series — Muthuraman Ramasamy, Vice President and Global Client Leader at Frost & Sullivan, takes us through the latest global and local Industry 4.0 trends, and the need for a supportive innovation ecosystem, along with moderator Rajkiran C., Senior Director - IoT/AR Business - India and EMEA-Emerging Geos, PTC.
 
 
 
 

Powered by Intel Startup Program, Staqu’s AI-enabled video analytics platform is helping its customers generate more revenue

In association with Intel Startup Program

 

Backed by Intel Startup Program, Staqu’s video analytics platform JARVIS is helping enterprises across industries such as retail, manufacturing, and public infrastructure make better use of their video monitoring systems. Here’s the story of JARVIS and how Staqu is scaling its solution across industries and geographies, revolutionising the video analysis and monitoring space.

 

Know more

 
 
 
 

Did you know?

 

Where was the first Winter Olympic Games held?

 

Answer: Chamonix, France, in 1924.

 
 
 
 

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com


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