Ministry of electronics and information and technology, Government agency

To celebrate India's 75th Independence Day, and organized an event around the theme 'Building in Bharat for the World'.It was an enriching session with participation from over 100+ founders, VCs, Industry bodies on 'How Indian SaaS startups should build, plan, and strategize to expand globally and navigate the current macro environment'. The panel discussion was led by eminent panelists:1. Jitendra Vijay, CEO, Ministry of Electronics and Information Technology, Startup Hub2. Kitty Agarwal, Partner, Infoedge Ventures3. Apurva Chamaria, Head of Partnerships, Startups Google4. Gaurav Goel, Group President & National Head - Startup/Fintech & New Economy Business, Yes Bank5. Sudhanshu Bhasin, Chief Business Officer and Head of Investments at Recur ClubDuring the discussion, Jitendra Vijay, CEO, Ministry of Electronics and Information Technology, Startup Hub highlighted, "It's a decade of technology for India. By 2030, India will be looking at 20-30 per cent of the overall SaaS market pie, which has a huge potential. Given the key technologies like AI and ML and digitalization being the core of the business, youth and ambitious entrepreneurs can accelerate the overall industry growth."At the event, Apurva Chamaria, Head of Partnerships, Startups Google stated, "India enjoys great credibility and prestige when it comes to technology. 10 per cent of the global developer population is based out of India, and it is growing steadily at 40 per cent every year. Owing to our strong developer community, we possess proven expertise in developing SaaS products, and I foresee a lot of enterprise SaaS companies coming up in the future."SaaS businesses have been gaining traction with robust growth at 33 per cent + and with $6B+ VC investments in 2021 (20 per cent of the overall VC investments at $35B).BVP's SaaS index which tracks 50+ key cloud companies was trading at over 20x ARR in 2020. But since last year the index witnessed a 50 per cent decline in LTM. Startups are now looking at alternative financing solutions as well after seeing a 20-30 per cent decline in funding through traditional channels.Kitty Agarwal, Partner, Infoedge Ventures said, "Owing to the recurring nature of cash flows, high gross margins, and capital efficiency, SaaS-based business model becomes way more defensive in the down markets rather than upmarket. These key advantages of the SaaS business model give founders more flexibility to scale up the business and grow."Gaurav Goel, Group President and National Head - Startup/Fintech and New Economy Business, Yes Bank said, "Banking industry is gearing to provide a better ecosystem to the Indian startup ecosystem and that Yes Bank has recently also started investing equity in selective startups."Aiming at discussing the current challenges of the global macro environment, the panel discussed how being contribution margin positive and leveraging alternative financing solutions like those provided by Recur Club can help SaaS companies to navigate the current macroeconomic scenario."With the event, we sought to leverage the Recur Club community to empower the startups of today to become the industries of tomorrow by providing them with strategies for capital efficient growth and fundraising in the new normal," said Sudhanshu Bhasin, Chief Business Officer and Head of Investments, Recur Club.Recur Club is a revolutionary trading platform facilitating financing for Companies with Recurring Revenue streams. Recur Club has unlocked an all-new asset class to simplify the way financing works for companies. Companies are able to convert their Monthly Recurring Revenue to upfront growth capital on click of a button.This story is provided by NewsVoir.will not be responsible in any way for the content of this article. (ANI/NewsVoir)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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