Investors attending the TiE Global Summit (TGS) expressed confidence that winter funding for Indian start-ups will end by March, but said budding entrepreneurs seeking funds need to come up with credible plans to generate returns on investment. That should come because fancy valuations will no longer influence global funds. Managers.
Funding winter, which refers to the lack of funding for start-ups, remained a pervasive theme at the recently concluded TGS 2023, the eighth edition of the flagship event organized by TiE.
Held in conjunction with the Singapore Fintech Festival, the event was attended by over 2,000 participants including experts, fund managers, thought leaders and startups.
Regarding India, Gaurav VK Singhvi, co-founder of We Founder Circle, said, ‘By March next year, the situation will get better for Indian startups.’
He said global investors are sitting on money and once the “uncertainty” regarding geopolitics, particularly the Ukraine war and the Middle East crisis, is over, “money will start flowing”.
A similar opinion was expressed by Jack R. Selby, managing director of Thiel Capital, who said that investors are sitting on a lot of ‘dry powder’ (funds) and are looking for investment opportunities.
However, start-ups will have to come up with credible plans to ensure reasonable returns on investment as “fancy valuations” will not sway fund managers, Selby said, adding that “the entire funding ecosystem is being reset”.
Winter financing and recovery measures remained the most important topic at the conference.
The slowdown in funding for Indian start-ups started around mid-2022. Fund inflows fell by 77 per cent to about $4.4 billion during January-July 2023, compared to $19.5 billion in the year-ago period.
Furthermore, the speakers at the summit also talked about the important role being played by startups in driving innovative solutions and underlined the need for networking, collaboration and knowledge sharing among entrepreneurs.
A press release said, “TGS 2023 will bring together global investors, entrepreneurs and enterprise innovators from around the world to discuss emerging trends and opportunities in sustainability, technological advancement and social impact, as well as the critical role of entrepreneurship in driving innovative solutions. “Happened.” release.
It featured over 100 speakers from the investor and founder communities, inspirational leaders from sports and entertainment, and industry leaders such as Ant Group, GitHub, Microsoft and DBS Bank.
According to Amit Gupta, President of TiE, the next TGS, which is the annual flagship conference that brings together global leaders, entrepreneurs, investors and policy makers, will be held in Bengaluru.
Apart from investors and budding entrepreneurs, the conference was also attended by acclaimed film director and producer Shekhar Kapur, inspirational sports legends Stephen Fleming, Geoff Allott, Prakash Padukone and Deng Yaping.
(This report has been published as part of an auto-generated syndicated wire feed. No edits to the headline or body have been made by ABP Live.)