Funding Winter in Startups: Global venture funding crashed to a six-year low of $248.4 billion in 2023, a staggering 42% decline YoY. Deal volume also tumbled 30% to 29,303, impacting most major regions and sectors.
Many colleges in India have incubator and entrepreneurship support programmes, and the government has been encouraging startups. In recent years, campus placements in the IT sector have seen a dip, and a funding crunch has impacted many startups. Despite the challenges, interest in entrepreneurship has increased, particularly in bioinformatics and biotechnology startups focused on vaccine and antibody production.