According to a survey by Nasscom, in the home to one of the world’s largest startup ecosystems, 70% of startups have less than 3 months of cash runway, 22% have enough to make it to the end of the year.
8% have enough money to survive for more than 9 months, 90% of startups facing a decline in revenues, 30-40% temporarily halting their operations or in the process of closing down.
54% of some 250 respondents looking to pivot to new businesses & 40% looking to diversify into growth verticals such as healthcare, 69% of B2B those operating in retail & fintech are facing delays in payments from their clients.
More than two-thirds of startups also said they were looking for policies that eased regulations and spur government purchases. Many also requested relief in taxations for a few years