“Data economies use ICT, innovation and analysis and better schooling and specialised abilities to create, disseminate, and apply data for development,” he stated.
Nonetheless, the startups ecosystem is witnessing a funding winter owing to Aglobal macro-economic elements that may last as long as 18-24 months.
As VC cash disappears amid financial slowdown, tech startups have laid off over 20,000 workers the world over since April, whereas greater than 8,000 workers have misplaced jobs on the Indian startups led by edtech platforms.
The scenario is about to worsen with recession looming and funding drying up.
A number of giant funding companies like Sequoia Capital, Lightspeed Enterprise Companions, Craft Ventures, and Y Combinator and so on have despatched memos and footnotes to their portfolio corporations and startups on easy methods to endure the continued disaster.