How entrepreneurs are navigating COVID-19 challenges; 10 years of Blume Ventures
Last week, we explored the various ways entrepreneurs are dealing with the pandemic. From coworking startup BHIVE, which is readying itself to remain a key provider of flexible office spaces, to resto-pub chain Casa Piccosa that provided accommodation to 80 percent of its workforce during the lockdown, many startups are doing their best to fight the challenges brought on by COVID-19.
Blume Ventures, which completed a decade in July, has redefined early-stage startup financing in India. In February, just before the coronavirus pandemic peaked, it announced the close of its third fund at $102 million, the first time a homegrown VC firm has raised a Fund III, or secured a corpus of over $100 million.
Conversations around mental health have become equally important to physical health and hygiene, especially during these difficult times. Fintech giant Paytm has been focusing on its employees’ mental health, and the company’s most important message has been to speak up and start a dialogue about what their struggles.
To make education more holistic, integrated, learner-centred, and flexible, the Indian government announced a new education policy – paving the way for a new era in education. Key stakeholders in the edtech sector believe the new National Education Policy 2020 will build a workforce ready for the 21st century.
William Bissell, Chairman, FabIndia
And finally, here are some key business lessons from FabIndia Chairman William Bissell on how brands can survive COVID-19.
It all started in 1995 when India’s first-ever mobile phone call was made between Kolkata and New Delhi. Today, India is the world’s second-largest smartphone market.
Image Credit: Shutterstock
The pandemic has caused a shift in consumer behaviour, with people opting for takeaway, and leading to the rise of cloud kitchens to ensure restaurant-like food at home.
Ashwini Malhotra, Managing Director, Weikfield Foods Pvt Ltd
Satpal Malhotra started Weikfield in a small room in Pune in 1956. Today, it holds a strong space in the Indian household, clocking Rs 300 crore turnover.
Manish Sabharwal, Chairman and Co-founder of Teamlease Services. (Credit: Teamlease Facebook)
Manish Sabharwal believes that COVID-19 will cause a lot of pain but India needs to take advantage of the issues surrounding China to increase its manufacturing.
As the Chairperson of YouWeCan Foundation, Shabnam Singh, with her son Yuvraj Singh, aims to raise awareness on cancer care and treatment, and provide support.
Pratik Oswal, Head of Passive Funds at Motilal Oswal Asset Management Company, gives insights into investing and debunks myths about the world of finance.
Samsung's UV Steriliser with Wireless Charging lets you quickly disinfect your daily objects in just 10 minutes. It can also charge 10W compatible gadgets.
Quote of the week:
"It is delusional to expect the Indian economy to behave differently in war times than it does in peacetime, which is why all of us should be fighting for reforms in ‘regulatory cholesterol’, banks, and many other things which are holding India and its citizens back. We need structural reforms, educational reforms, and we are also inadequately financialised."
— Manish Sabharwal, Chairman and Co-founder of Teamlease Services
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