India is in the middle of a much-needed start-up revolution

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India now has 38,756 officially-recognised start-ups –– with 27 unicorns, eight of which achieved this status in 2020 –– and is the third-largest tech start-up hub globally.

Entrepreneurs today are utilising the unprecedented advances from technology, operating on the demands of our demography, and inadvertently steering citizen welfare.

Five years since Prime Minister Narendra Modi launched the Start-Up India initiative, we are witnessing a golden chapter in the history of Indian entrepreneurship.

India now has 38,756 officially-recognised start-ups –– with 27 unicorns, eight of which achieved this status in 2020 –– and is the third-largest tech start-up hub globally.

According to Praxis Global Alliance, start-ups are growing at an average rate of 12–15% annually. Start-ups have raised $63 billion between 2016–20 in funding, $20 billion of which was raised in 2019 over 1,854 deals. Investments in start-ups are growing incrementally each year ($12 billion, $25.2 billion, $26.3 billion, and $34 billion invested in the last four years, respectively), with $16.7 billion till May 2020. Start-Up India kickstarted an entrepreneurship revolution. Several policy interventions were since announced, giving the entrepreneurial ecosystem a much-needed launchpad. The overhaul of the digital payments ecosystem is being led by State innovation, with Aadhaar, Jan Dhan, UPI, and India Stack. The Atal Innovation Mission, Niti Aayog, has built an ecosystem of 8,800 tinkering labs, 4,000 mentors and over two-and-a-half million students, and acted as a conduit for over 3,500 innovations while supporting 1,500 start-ups.

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Move over, pot: Psychedelic companies are about to go public

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The first companies developing medical treatments from psychedelic drugs like LSD, ketamine and the active ingredient in magic mushrooms are gearing up to list on Canadian stock exchanges.

Mind Medicine Inc., which is undertaking clinical trials of psychedelic-based drugs, intends to list on Toronto’s NEO Exchange by the first week of March, said JR Rahn, the company’s co-founder and co-chief executive officer. A NEO spokesman confirmed the listing, which is pending final approvals.

The company plans to list via a reverse takeover under the ticker MMED. It’s not yet generating revenue and is targeting a valuation of approximately $50 million, Rahn said. MindMed counts former Canopy Growth Corp. co-CEO Bruce Linton as a director and Shark Tank star Kevin O’Leary as an investor.

“Our ambition is to be one of the first publicly listed neuro-pharmaceutical companies developing psychedelic medicines,” Rahn said in a phone interview.

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Competition is for losers: Peter Thiel

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Google makes so much money that it is now worth three times more than every U.S. airline combined.

This question is harder than it looks – what valuable company is nobody building? That’s because your company could create a lot of value without becoming very valuable itself. Creating value isn’t enough—you also need to capture some of the value you create.

 

 

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