Happy Independence Day!
Today, India celebrates its 75th year of independence. This year, we are striving to become an ‘Aatmanirbhar Bharat’ and build for the world. A crucial step in becoming self-reliant is by empowering entrepreneurs, especially from Tier-II cities.
Lately, we have seen that the geographical spread for startup funding has expanded from the Big 3 — Bengaluru, Delhi/NCR, Mumbai — to include cities like Jaipur and Pune, which are fast-becoming startup hubs.
According to YourStory Research, between Jan 2015 – July 2021, Tier-II city startups in India raised approximately $1.12 billion in funding, across 305 deals. Interestingly, in the first seven months of 2021, Tier II startups have already raised $80 million across 39 deals.
One of the major drivers behind the shift is the #vocalforlocal movement that put a spotlight on Indian entrepreneurs. The movement opened many opportunities and changed customer perception of buying ‘Made in India’ goods in the last year, helping these brands shine.
The Interview
The Asia-Pacific region alone sees $17 trillion worth of payment flows that are yet to be digitised. Zip is a rapidly expanding global fintech player that is simplifying the global payment landscape with fair and seamless payment solutions.
Hamish Moline, MD (Asia and Global Payments), Zip, talks to Arvind Ronta, Head of Products, India & South Asia, Visa on solving for the multi-trillion-dollar credit opportunity in India.
Editor’s Pick: Swadeshi Brands
This Independence Day, SMBStory lists five homegrown brands founded before India became a free country and have today grown into some of the biggest and most respected brands. Read more.
Startup Spotlight
Rajeeva Mahalinga and Sowjanya S Prabhu wanted to create lifestyle merchandise at a reasonable price point to appeal to a younger generation who took pride in being Indian. In 2018, they founded Bengaluru-based lifestyle clothing brand 1947IND.
The brand celebrates ‘Indian sub-cultures’ with the likes of Ranveer Singh, Danish Sait, Ritviz, Alok Babu of @all_ok_official fame, and Mihir Joshi sporting their designs. Read more.
News & Updates
Before you go, stay inspired with…
“Indian techpreneurs are ‘building in India, for the world,’ which we believe will be one of the biggest trends to watch.”
— Rajiv Srivatsa, Partner, Antler India
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