‘Beginning to mid-2021’

While the epidemic’s impact on the start-up segment was “devilitating”, with about 15% of the stores closing temporarily, the Wadhwani Foundation – a not-for-profit group working with start-ups in 20 countries – Said that it is driving unique growth in areas such as healthcare, online education and e-commerce due to the wave of digitization.

“In 2020, COVID-19’s impact on start-ups was debilitating. We expect unprecedented growth in the coming years due to the huge punch-demand. “He said that the recovery would be gradual, and that start-up activity could be seen above mid-2021.” “I pioneered technology and digital adoption in the start-up ecosystem as a key outcome of COVID-19. Furthermore, the reality and localization of supply chains in manufacturing sector and concerns around China as a major manufacturing source will create opportunities for setting up manufacturing / assembly units.

Mr. Kela said that the human resource element would also look at upskilling, reskilling and multi-skilling to meet the demands of changing working styles.

He said that while start-up entrepreneurs have shown innovation, perseverance and resilience in tough COVID times with advancing their business models, COVID-19 offered unprecedented opportunities in healthcare, online education, e-commerce and streaming media. Has taken advantage of.

“With the wave of digitization, as never before seen, unique growth in many areas should occur for the mid-to-long term,” he said, according to a recent report by TIE Delhi-NCR-Zinov, 15% Start-ups temporarily closed shop, while 44% have a cash runway for less than six months, and 52% are struggling to raise funds due to the epidemic.

The Wadhwani Foundation seeks to create jobs in emerging economies through large-scale initiatives in entrepreneurship, innovation and skills. It operates in 20 countries, including hosting countries in India, Mexico, Brazil, Bangladesh, Indonesia, the Philippines and Africa.

Post the epidemic, Mr. Kela said, the Wadhwani Venture Fastrack program has worked with more than 225 start-ups who were supported through workshops, mentoring, investor connections, driving business development and customer acquisition. “If necessary, start-ups follow with success,” he said.