Startups’ Concern over Data Localization Norms
From Current Affairs Notes for UPSC » Editorials & In-depths » This topic
What is the current situation in the startup sector?
- The startup sector has been in an overdrive over the last few years:
- A spike in fund-raising and deal-making
- Increase in the number of unicorns- 44 startups became a unicorn in 2021
- However, this funding frenzy is witnessing a slowdown and the funds are drying up.
- According to a PwC report, Indian startup’s funding fell by 40% to .8 billion, in April-June 2022. This followed 3 quarters of over billion funding.
- This slowdown is due to a number of factors:
- Central banks are tightening policy, in a bid to reign in the inflation- leading to the era of cheap money coming to an end.
- Concerns over an imp
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