Coronavirus has impacted 70% startups in India: Survey

Bengaluru: Kovid-19 has affected 70% of startups in India, according to a survey, with 17% of them quitting their business. Interviews conducted by the Federal of Indian Chambers of Commerce and Industry (FICCI) and the Indian Angel Network (IAN) revealed that more than 60% of Indian startups are working to disrupt their normal business journey.

FICCI Secretary General Dilip Chenoy said the startup sector is currently being stressed for survival. "The investment climate is being eliminated and is expected to remain so for months to come." He said the lack of operating cash and cash flow between startups could lead to major breaches in the next three to six months. The survey found that 68% cut start-up costs. Only 22% of them have a fixed amount to cover their fixed costs for three and six months. Employees suffer from employee funding, with about 30% reporting that they will eliminate workers. Follow the gadgets now on "