Amid economic turmoil, it is difficult for startup founders to raise funds, investors are backing away

Whereas each progress and profitability are essential, for the primary time in seven years, founders had the next bias in the direction of profitability than progress, mentioned the InnoVen Capital report. Practically 55 % of founders cited profitability as an enormous focus space in 2023, in comparison with simply 17 % in 2021. Startup founders are more and more trying to home IPOs, regardless of the current volatility of public market tech corporations.

As Indian startups face turbulence amid the worldwide funding winter, consultants mentioned they should reserve money, construct long-term targets and undertake a tradition of buyer suggestions to outlive in 2023. In accordance with Ritesh Malik, director, Alliance for Digital India Basis (ADIF), startups ought to pay attention again to their prospects. The extra you hear out of your prospects, the extra you perceive their altering wants, he instructed IANS. And the extra dynamic your product is, the extra you may be continually altering that product to go well with buyer preferences.