Page 22 - Plastics News June - 2020

Google launches program to support Indian startups post COVID-19 world

Having been working with over 250 Startups founders they have cash available for less than three months.
over the last two months, Google has helped solve the
In addition to the accelerator support, Google also
immediate challenges faced by the founder community
launched a guide for startups called Emerging stronger:
Google has launched a Covid-19 playbook to walk Indian Playbook for Startups to Face the Covid-19 Challenge.
startups through the pandemic and help them manage Areas such as thinking strategically about startup's
their business and operations. Google has expanded its future, managing cash burn, identifying new revenue
early-stage startup accelerator – Google For Startups sources, managing productivity during work from home,
(previously Launchpad Accelerator) to provide support case studies of startups that have adapted to Covid
to startups working on solutions for the post-Covid realities are compiled in the book. The contributions
world. The accelerator opened applications for the new have been from startups, investors such as Prime
batch of the accelerator focusing on
health tech, fintech, edtech,
agritech, retail and software-as-a-
service startups earlier in June 2020.
Amid Covid pandemic, startups have
been trying to reorient themselves by
resetting their cost base with a focus
on core businesses and avoiding cash
burn as much as possible with limited
marketing and hiring. The ecosystem
support from various stakeholders
including technology players like
Google is likely to help such startups.

“The pandemic has fundamentally
changed the landscape, and startups,
in particular, are deeply impacted
since they operate with lean teams
and resources, and far less cushion
than a scaled enterprise,” said Paul
Ravindranath G, Program Manager,
Google for Startups Accelerator India. Venture Partners, Blume Ventures, Matrix Partners, and
According to a Local Circles survey receiving over 28,000 startup mentors over the last two months.
responses from more than 8,400 startups, SMEs and
entrepreneurs, only 16 per cent have the cash to exist “We have been working very closely with over 250
for just over three months while 42 per cent are already Startups founders over the last two months, holding
out of capital or likely to shut down. Also, 80 per cent of consults with our network of experts, mentors and VCs to
them have cut or deferred their marketing, HR, and fixed help solve for the immediate challenges faced by the
operating costs along with tax payments in the past founder community,” said Ravindranath. Meanwhile, the
three months to survive. next new batch for the accelerator will begin in August
2020. Google's accelerator has so far supported more
“The situation with us and I think for most of the early- than 60 startups in India.
stage startups is still very precarious. We don't have
money to pay salaries while revenues have been near Meanwhile, Microsoft had launched a programme for
zero. I don't think the situation would improve in coming startups in the agritech space earlier this month.
months looking at the rise in Covid cases. We are trying Microsoft for Agritech Startups programme would offer
hard to avoid a temporary shutdown,” founder of a Microsoft's cloud platform – Azure Farm Beats built for
Delhi-based startup said. agriculture segment on top of the company's cloud
computing services Microsoft Azure. In February,
Another survey of over 250 startups by Nasscom in April Microsoft had launched the 100X100X100 program for
this year said that around 90 per cent startups are staring
B2B SaaS startups in India wherein 100 companies will
at revenue decline while around 30-40 per cent have commit to spending $100k over 18 months on solutions
temporarily stopped their operations or at the stage of offered by 100 early and growth SaaS startups that have
shutting down. Around 70 per cent of startups added that
enterprise-ready solutions.

June 2020 22 Plastics News