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    After a quarter of survival, the next one is about adapting for start-ups and new businesses

    Synopsis

    Most investors agree with this sentiment.

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    Around 54 per cent of Indian startups are looking to pivot to new business opportunities, according to a Nasscom survey.
    Rajesh Sawhney, founder, GSF Accelerator, believes startups need to move past survival and start adapting to the new normal. The investor recently tweeted, “This quarter was about “Survive. Survive. Survive”. Next quarter is about “Adapt. Adapt. Adapt” Remember Darwin!!”

    It’s a sentiment that most investors agree with. In an interview with a business magazine, Rajan Anandan, Managing Director, Sequoia Capital India, said that while some sectors such as international travel and hospitality will likely take a long time to recover, the pandemic has opened up opportunities for edtech, digital health, health and hygiene products and e-commerce operators.

    “Many verticals have the potential for growth if they can be re-imagined,” said Anandan. Sharing the example of edtech, he said, “Not only has the number of users of online education in India doubled to 90 million over the past several months, but the number of monetising users have more than doubled in this period. This kind of growth is truly unprecedented.”

    According to a survey of over 250 startups by Nasscom, around 54 percent of Indian startups are looking to pivot to new business opportunities, diversify into growth verticals like healthcare, and enhance focus on emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), and cloud computing.

    Anandan believes that businesses that use this period to reimagine their businesses and survive the next 12 to 18 months will come out (of this crisis) ten times stronger.

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