Wednesday, May 31 2023 | Time 02:07 Hrs(IST)
Business Economy

Startup investors have become more choosy: Huddle Global

Thiruvananthapuram, Dec 17 (UNI) Time for easy money is over for startups and investors will be more diligent in evaluating their investment in new firms, though the scene remains dynamic enough with hundreds of deals being struck in different sectors, say venture capitalists who attended the “Huddle Global”, the two-day global Startup conclave organized by Kerala Startup Mission (KSUM) at Kovalam.
Taking part in a discussion on the outlook on funding in the year ahead, Roma Priya, founder of Burgeon Law, a new age law firm for startups and investors, said the time of several investors chasing the same startup has ended and in the last couple of years they have become more choosy in picking the firms to invest in, a release said on Saturday.
The fledgling enterprises that aspire for funding are expected to prove their worth before they got the investment, she said at the session on the concluding day here last evening.
Rajesh Sawhney, the founder and CEO, GSF Accelerator, who moderated the talk, said startups still have a very bright future ahead as India can be the software developer of the world, besides catering to the large domestic market.
Noting that some of the southern states like Kerala have a GDP which is probably more than countries like Pakistan and Bangladesh, he said, efforts should be made to tap into the strengths they have, like educated population and a strong healthcare network, which can provide a launchpad for successful startups.
Picking up on the theme, Brij Singh, Investor and Venture Capitalist, said Kerala has a diaspora spread across the globe, but most of them return home after successful careers abroad. Ways should be found to utilize their wealth and create a favourable ecosystem for startups, Singh said.
Dr Vaibhav Kapoor, whose Prystin Care became healthtech unicorn two years back, told the audience there is a reverse migration happening from big cities as some firms are relocating to smaller towns to enjoy a better quality of life as the main IT centres like Bengaluru and Gurgaon are facing problems like acute pollution and traffic gridlocks.
The panel agreed that even in second and third tier cities of India, there is enough opportunity for startups to raise needed funds. Once they become successful, venture capitalists and financiers would come looking for them, they said.
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