Satya Nadella, Kalyan Krishnamurthy, and Bjyu Raveendran on the future of everything

The new normal. We have all heard it, we are living in it, and turns out, it is here to stay. From our shopping habits to learning patterns, and even how we work, the new normal has made everything digital.

While it is important to note that sectors were already gradually becoming digital, COVID-19 accelerated the digitisation process, “by at least a decade,” said Satya Nadella, CEO of Microsoft, adding that it has now become an essential part of how we function. 

In a conversation with Kalyan Krishnamurthy, Group CEO of Flipkart, on the sidelines of the Resurgence TiEcon Delhi-NCR event, Nadella said, "Technology has become core to how we think about business productivity — right from hiring to scaling."

At the same event, Byju Raveendran, Founder of BYJU’S, world's second-most valuable edtech firm, revealed that the company added 45 million free users on its platform in the last 12 months.

Byju went on to share that teachers and parents are now accepting "this format [online learning] as mainstream." 

Of course, edtech has been one of the most successful sectors in the pandemic, as schools across India and the world shut down due to lockdown restrictions. But, is India really ready for an entirely online education system?

Despite the dramatic growth of edtech in 2020, "there is still a long way to go before we can call it a success," reckons Byju. 

"We can only call it a relative success for now. Forget access to the internet, one-third of the students in India don't even have a smartphone. So, the digital divide is real," he explained.

Maybe, the future is not digital-only, but hybrid instead. 

The Interview 

When Finance Minister Nirmala Sitharaman presents Budget 2021, she is expected to outline the Indian economy’s post-pandemic recovery plan. A lot of expectations are resting on her shoulders and Motilal Oswal Financial Services Co-founder and Chairman, Raamdeo Agrawal, believes she will not disappoint.

“Delhi sets the rules of the game and Mumbai (the financial capital) plays it. I am sure that it won't be disappointing, it will be very good for infrastructure spending and all, but you have got to keep your fingers crossed,” the stock market veteran tells YourStory Founder and CEO, Shradha Sharma.

Startup Spotlight

Lucknow-based Knocksense brings local news content to Tier II/III cities

Varul Mayank and Vibhore Mayank launched Knocksense to create a network that produces original and hyperlocal content in a non-sensational way. Founded in 2016, the mediatech startup provides content on a wide variety of city-centric topics, including local sports, local achievers, education, career, real estate, environment, health, lifestyle, nightlife, F&B, etc. Read more. 

Editor’s Pick: Schools will no longer be 100 pc analogue: Toppr Founder 

With offline education facing a crisis of continuity in the pandemic, online learning saw growth and new opportunities like never before. Toppr, among India’s leading edtech startups in the K-12 space, claims it witnessed a 9X growth in traffic post the lockdown-led nationwide school closures. 

In an exclusive interview with YourStory, Toppr Founder and CEO Zishaan Hayath talks about the dramatic and irreversible changes in education. Read more. 

News & Updates

• Chiratae Ventures announced the appointment of Andreas Hettich to its global advisory board. Andreas is the Chair of the Hettich Group Advisory Board — a leading manufacturer of furniture fittings with annual revenue of €1.1 billion.

• Reliance Jio and HDFC Bank feature among the world's 'Top 25 Strongest Brands,' with Jio making it to the coveted top five. The venerable Tata Group continued to be India's most valuable brand, as per global brand valuation consultancy Brand Finance.

• Aditya Birla Fashion and Retail Ltd. (ABFRL) announced it has got into a strategic partnership with designer brand Sabyasachi Couture. Additionally, the company has signed an agreement to acquire 51 percent stake in Sabyasachi brand.

• TikTok competitor Chingari is open to hiring employees who lost their jobs after ByteDance announced it is wrapping up India ops in the wake of the permanent ban on Chinese apps.

• Robert Downey Jr's venture fund Footprint Coalition Ventures plans to invest in high-growth, sustainability-focussed companies. It will invest in both early and growth-stage companies.

Before you go, stay inspired with… 

"High winds don’t make great sailors, light wind sailing makes great sailors… they equalise everything. The question is are we high wind sailors or light wind sailors during the pandemic... What we do in the next 12 to 24 months will define us." 

— Ashish Hemrajani, CEO and Co-founder of BookMyShow

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