Coronavirus is the biggest challenge that India’s start-up ecosystem has faced so far, with about 90% of start-ups facing a decline in revenues, 30-40% temporarily halting their operations or in the process of closing down and 70% start-ups having a cash runway of less than 3 months, according to a survey conducted by industry body Nasscom.
The covid roadblock has impacted the early stage and mid stage start-ups the most, according to the survey, with startups in Edtech, fintech and health tech expecting growth in revenue. "However it is not all doom and gloom; more than half of the start-ups are looking to pivot to new business opportunities, diversify into growth verticals like healthcare, and enhancing focus on emerging tech like AI,