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Tag: Fintech

  • National Startup Day 2025: Honoring the Trailblazers of Innovation and Economic Growth

    Recognizing the visionaries shaping industries, solving global challenges, and driving economic progress

    National Startup Day, observed annually on January 16, is a celebration of the entrepreneurial spirit that fuels innovation, drives economic growth, and solves real-world problems. Startups are the cornerstone of global progress, continually transforming industries with cutting-edge ideas and disruptive technologies. From healthcare to climate tech and fintech to education, their role in shaping the future cannot be overstated. This day serves as a reminder of the immense contribution startups make to society, creating jobs, fostering innovation, and inspiring a culture of risk-taking. Prittle Prattle News, known for featuring you virtuously, brings you a deep dive into expert opinions on the startup ecosystem and how it’s evolving into a powerhouse of innovation and opportunity.

    Insights from Industry Leaders
    Startups are at the heart of economic transformation, and on National Startup Day 2025, leading entrepreneurs and visionaries from diverse industries share their perspectives on the impact and future of startups in India and across the globe.

    1. Rikant Pittie, CEO & Co-founder of EaseMyTrip
    At EaseMyTrip, we believe entrepreneurship is the foundation of innovation and progress. The Indian startup ecosystem has grown rapidly, with over 160,000 recognized startups and more than 110 unicorns. The resilience of startups, particularly during challenges like the pandemic, has proven India’s emergence as a global innovation hub.
    Our collaboration with the Open Network for Digital Commerce (ONDC), through the launch of ScanMyTrip, reflects our commitment to empowering startups and fostering digital commerce. As India continues its journey toward becoming a global innovation leader, we celebrate the dreamers and doers building the future.

    2. Anand Agrawal, Co-founder & CPTO of Credgenics
    National Startup Day, Startups are driving change by addressing critical gaps across sectors such as finance, healthcare, and sustainability. The fintech industry is a prime example, leveraging AI and data-driven technologies to solve complex challenges.
    Looking ahead, the Indian startup ecosystem is expected to witness massive transformation. With global expansion, talent development, and a relentless focus on innovation, startups will remain pivotal to India’s economic progress and global influence.

    3. Yuvraj Shidhaye, Founder & Director of TreadBinary
    Startups thrive on challenges and opportunities. India’s Startup India initiative has been instrumental in enabling young entrepreneurs to scale their businesses, with benefits such as tax holidays and rebates on patent filings.
    This National Startup Day reminds us to celebrate the resilience and creativity of entrepreneurs, who continue to push boundaries and create a future-ready economy. As Dhirubhai Ambani said, ‘Ideas are no one’s monopoly.’ Let this serve as a guiding principle for all aspiring entrepreneurs.

    4. Sandiip Bhammer, Managing Partner of Green Frontier Capital
    India’s startup ecosystem is thriving, with sectors like climate technology, renewable energy, and digital transformation leading the way. The Startup India initiative and access to venture capital are empowering entrepreneurs to turn ideas into reality.
    With over 140,000 DPIIT-registered startups and more than 115 unicorns, India is poised for even greater growth. The rise of incubators and accelerators, coupled with global collaborations, is enabling startups to scale efficiently, fostering a vibrant ecosystem that promises long-term success.

    5. Rohan Bhargava, Co-founder of CashKaro and EarnKaro
    In just eight years, India has transformed into the world’s third-largest startup ecosystem, with over 128,000 startups. Despite global uncertainties, startups are focusing on sustainability, profitability, and customer-centric solutions. Government initiatives like the DPIIT Fund of Funds scheme and advancements in digital infrastructure are laying the groundwork for startups in smaller cities. The future promises deeper technological integration and stronger market penetration as startups continue to solve real-world challenges through scalable and impactful solutions.

    6. Prabhat Shrivastava, Founder & CEO of VitusCare
    The healthcare sector has witnessed significant disruption, thanks to startups addressing gaps in accessibility and affordability. At VitusCare, we aim to bring quality renal care to underserved regions, especially for patients suffering from chronic kidney disease (CKD).
    Startups are playing a crucial role in bridging the gap between urban and rural healthcare. Their contributions to improving lives and creating sustainable models for healthcare delivery highlight their impact on societal progress.

    A Global Perspective on Startups
    The startup ecosystem is not limited to one country or region, it is a global phenomenon. In the US, companies like Amazon and Google continue to inspire startups to think big, while Israel is making waves in sectors like cybersecurity and AI. Meanwhile, the UK and emerging economies like Brazil and Indonesia are fostering innovation at unprecedented rates.
    In India, the Startup India initiative has played a pivotal role in nurturing entrepreneurship, with measures such as simplified compliance, tax benefits, and funding support. This, combined with the rise of unicorns, access to venture capital, and global collaborations, has established India as one of the world’s most promising startup ecosystems.
    With startups tackling global challenges in climate change, fintech, healthcare, and more, their role in shaping a sustainable future is more vital than ever. As platforms like Prittle Prattle News continue to spotlight their journeys, it’s evident that startups are not just businesses, they are catalysts for change.
    Conclusion
    National Startup Day is a celebration of the extraordinary journey of startups that are transforming industries, addressing global challenges, and fueling economic growth. Startups exemplify resilience, innovation, and the ability to turn ideas into powerful solutions that create a more inclusive and sustainable world.
    At Prittle Prattle News, we take pride in “featuring you virtuously” by bringing to light the stories of visionaries, disruptors, and changemakers who are shaping the global startup ecosystem. Under the leadership of our Editor-in-Chief, Smruti Bhalerao, our team is dedicated to showcasing the entrepreneurs driving meaningful innovation and building a future filled with possibilities.
    Stay connected with us as we continue to honor and celebrate the pioneers crafting a brighter tomorrow. Follow us on LinkedIn, Twitter, Instagram, YouTube, and Facebook for more updates!

  • Technological and Startup Ecosystem in Budget 2024-2025

    How Budget 2024-2025 Supports Innovation and Growth

    The Union Budget 2024-2025, presented by Finance Minister Nirmala Sitharaman, has laid out a comprehensive framework to bolster technological innovation and support the startup ecosystem in India. The budget introduces several key initiatives aimed at reducing tax burdens, simplifying compliance, and fostering an environment conducive to innovation and growth.

    Dilip Chenoy, Chairperson, Bharat Web3 Association

    “The nine focus areas of budget 2024 are key steps towards our goal of Viksit Bharat. The budget also lays out a clear framework for digitisation of various sectors, where Web3 technology could play a critical role. We were hoping for some relaxation to the taxation framework on VDAs in this budget, but the absence of any announcement is not particularly disheartening, given the Govt’s overall negative stance towards the sector.

    We have submitted data-backed quantitative analyses regarding the flight of users’ trading and transactions, as well as the potential increase in government revenue should the taxation structure be revised. We will continue to push for rationalization of the taxation framework, which includes reducing the TDS to 0.01%, allowing setoff of losses on VDA transactions and modifying the 30% tax on capital gains. We are hopeful that the government will consider our requests and that we will see changes in the future. On the positive, abolishing the angel tax for all classes of investors will work towards bolstering the Indian startup ecosystem. We look forward to more Web3 startups setting base in India, given India’s immense Web3 talent and potential. Finally, the impetus provided to blockchain skilling and talent development in the Economic Survey can empower youth for the exciting opportunities in Web3 and contribute to a skilled ecosystem for Web3 adoption.”

    Shivam Thakral, CEO of BuyUcoin, India’s second-longest running digital asset exchange
    “We welcome the positive announcements made by the honorable finance minister in today’s budget. However, the demands of the Web3 sector were not met and we will continue our constructive dialogue with the regulators to address the industry concerns. Here is our analysis of the Union Budget 2024: Angel tax abolished: India’s startup ecosystem received a big boost in today’s budget as the angel tax is abolished for all classes of investors.
    This move will be a gamechanger for startups planning to raise funds for their expansion as it will give startups more surplus funds to invest in product innovation and technology development to implement their long-term vision for the industry. The move will encourage a lot of innovators to start their entrepreneurial journey and VCs will find it more convenient to invest in early-stage startups. With deep-tech, blockchain and emerging technologies in focus. VCs will be keen to bet on innovative technologies to facilitate the transition from Web2 to Web3. TDS on VDAs untouched: However, Web3 as a sector was slightly ignored in the budget as the request to reduce the TDS on VDA transactions was not accommodated in the budget announcement. The delay in reducing the TDS will hamper the industry growth prospects as digital assets will not have a level playing field with other asset classes like stocks, gold and real estate. Higher tax and not allowed to offset gains: The high tax on gains from VDAs still stands at 30% which is relatively very high and the users are not allowed to offset losses like stocks. This move will prove to be detrimental for the web3 industry as it deprives the industry from a level playing field.
    Emerging tech in focus: In an encouraging move, the government highlighted the importance of technologies like blockchain and artificial intelligence. Government is actively involved in leveraging the potential of blockchain and AI for better governance and enhanced delivery of citizen schemes. At the same time, the economic survey also talks about the threats and challenges associated with Artificial Intelligence. The deep-fake incidents that occurred recently calls for a responsible use of emerging technologies through constructive collaboration between government and private players.”
    Mr. Kartik Chhaya, Chief Operating Officer, Rupeeseed
    “We welcome the Union Budget 2024’s forward-thinking approach, particularly the reduction in corporate tax rates for foreign companies and the simplification of FDI rules. These measures will enhance India’s attractiveness as a global tech hub. The focus on employment-linked skilling and the support for MSMEs, including the credit guarantee scheme, align well with our mission at Rupeeseed to drive innovation and growth in the fintech sector. Additionally, the emphasis on developing DPI applications and improving IBC outcomes will streamline processes and foster a more efficient financial ecosystem. Notably, the Budget’s move to address Angel Tax concerns for startup entrepreneurs is a significant step forward. By providing clarity and relief in this area, the government is helping to create a more supportive environment for startups, which is crucial for fostering innovation and attracting investment. Overall, this budget sets a robust foundation for technological advancement and economic growth, which augurs well for businesses.”
    Mr. Abhinav Jain, Co-Founder & CEO, Almonds AI
    “The Union Budget 2024 has delivered a landmark decision for India’s startup ecosystem. The abolition of angel tax for all investor classes is a game-changing move that signals the government’s unwavering commitment to nurturing our nation’s innovative spirit. This pivotal reform will inject much-needed momentum into our startup landscape, which has faced headwinds recently. By removing this significant barrier to investment, the Budget 2024 is not just opening doors – it’s constructing highways for capital to flow into groundbreaking ideas. This bold step, building upon previous initiatives like the Startup India program, positions India to regain its growth trajectory in the startup space. The Union Budget 2024 sends a clear message: India is not only open for business but is actively cultivating the next wave of entrepreneurs who will propel our economy forward.”
    Mr. Utkarsh Gupta, Managing Director- Ramagya Group:
    “Finance Minister Nirmala Sitharaman’s latest budget sets forth an ambitious plan to empower 41 million youth over the next five years with a central outlay of ₹2 lakh crore. This includes significant allocations for education, skilling, and employment, which are critical areas for India’s growth. The government’s decision to provide financial support for higher education loans up to ₹10 lakh will make quality education more accessible, ensuring that students from all backgrounds have the opportunity to succeed. The focus on upgrading 1,000 Industrial Training Institutes (ITIs) and aligning their curriculum with industry needs will bridge the gap between academic learning and market requirements. At Ramagya Group, we are excited about these developments and are committed to supporting the government’s vision for a skilled and educated India.”
    Conclusion:
    The Budget 2024-2025 provides a significant boost to the technological and startup ecosystem in India. By addressing key concerns like angel tax and simplifying compliance, the government is fostering an environment that encourages innovation and investment. As industry leaders express their optimism, it is evident that these measures will pave the way for sustained growth and technological advancement in the country.
    The article was curated by Prittle Prattle News as an industry story feature.
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