Policies and Government Initiatives
Drones: A lot of interesting start-ups and companies wanted to launch some or the other products using drone technology but weren’t able to, as they were bound by policies. But, starting December 1, 2018, the drone policy has now come to effect. As per the regulation, UAS for civil applications have been categorised by the maximum take-off weight — nano (< 250 gm), micro (250 gm-2 kg), small (2 kg-25 kg), medium (25 kg-150 kg) and large (> 150 kg). Except nano drones, all commercial drones are to be registered with unique identification number (UIN).
Personal Data and Fake News
After the Facebook data leakage and then a string of numerous accusations on various start-ups, government took the matter of personal data and fake news seriously. The administration, social media and other companies met to fight the same. Whatsapp too launched its own policies around displaying “Forwarded” for every forwarded message to fight fake news.
DIPP Self -Certification
Earlier start-ups had to be registered with government recognised incubators to qualify as start-ups. This year the policy to get self-certification was made so simple that an entrepreneur could apply for self-certification themselves and get certified in a day!
Start-up India penetration
State governments were seen proactively working towards schemes around start-up ecosystems. Lucknow, Jaipur and many other cities saw huge infrastructure surge for start-up offices. Rajasthan, MP and very recently Maharashtra governments brought forth numerous projects through which start-ups could work with the government.
Start-up Yatra: Start-up Yatras were organised at numerous states and the word was made popular among local masses. Even the Prime Minister for the first time addressed entrepreneurs on live television, thereby signifying the importance government was placing on the ecosystem.
Angel Tax: Angel tax had been a big complaint from entrepreneurs. But seems government is taking up the issue seriously and good news is expected soon.
Funding
Unicorn Club: The billion-dollar unicorn club had several new entries. Swiggy being the most recent one which raised over a billion dollars has been a huge news this month! Apart from that Freshworks, Byju’s, Oyo, PolicyBazaar and Paytm Mall too joined the list of unicorns.
Flipkart Acquisition
How can one forget this news! “Walmart acquired Flipkart for $16 billion in world’s largest e-commerce deal” was the news all over every major business page in May. This is a true landmark in the Indian start-up ecosystem, as this was where most majority VCs realised exits, angels and early employees became millionaires and basically every dreamer got their dream!
Flipkart Mafia: After the Flipkart acquisition, it became the talking point for many in the ecosystem. A number of start-ups were outed to have been started by ex-Flipkart employees. From Udaan.com which became a unicorn to CureFit, Groww, TBS Planet ansdmany more companies from ex-Flipsters, got attention among start-up enthusiasts and media alike.
Acquisitions: While Flipkart being acquired by Walmart has already been talked above, there have been many more acquisitions this year. Foodpanda acquires HolaChef, PhonePe acquires Zopper Retail, Truecaller gets Chillr and many more.