TECH BYTES – Monthly Tech Industry Bulletin March 2023

Highlights from NASSCOM Reports Released in February 2023

• Rising Above Uncertainty: The 2022 Saga of Indian Tech Start-ups
• India GCC Trends Quarterly Analysis Q4CY2022
• State Of Data Science & Ai Skills In India

• Strong ecosystem with New Gen tech start-ups base broadening
  • 1300+ new tech start-ups, 23 new unicorns (2nd highest in the world)
  • 2022 funding at $18.2 Bn is 30% lower than 2021, higher than last 4-year average in value terms
• Indian entrepreneurs’ laying emphasis on fundamentals
  • More than half of the tech start-ups in 2022 saw an increase in revenue of>20% (survey findings)
  • Overall, half of the tech start-ups continued or increased hiring in 2022
• Diversity of Indian tech start-up ecosystem continues to expand:
  • 39% of tech start-ups founded in 2022 from emerging locations in India, up from 34% in 2021
  • 36 unicorns and potential unicorns with at least one women founder/co-founder

• The Changing Landscape of Indian Tech Startups - Part 1 Panellists: Fandoro Technologies, Katonic.ai, Mtalkz Mobility Services, NeoITO
• State of Data Science and AI Skills in India Panellists: Capgemini

• Tech Trends: Indian IT companies continues to collaborate with cloud providers for adoption and harnessing of cloud related technologies around the globe. Indian ER&D companies are helping various companies digitally transform their processes. Indian ER&D companies are partnering with academia, associations, and the govt for jointly developing various solutions, ITIs etc.
• Tech Start-ups: Tier II and III cities, and rural India to be the new digital natives. The Uttar Pradesh government announced a slew of sops in its Budget 2023-24.