Introduction

The era of profligate spending is over. After an unprecedented funding boom, the past 18 months have forced Indian startups to think deeply about sustainable growth and a path to profitability. If 2021 saw investors put in over $77 billion, 2023 saw less than $4 billion of capital coming into the startups. This has impacted how startups and investors think about capital allocation and invariably cut back on excesses. Are these trends permanent? How are investors thinking about startups and the promised rise of the Indian unicorn story? What are the new trends they are backing? The funding crunch also impacted the unsung heroes of the startup ecosystem – the employees. Large numbers of startup employees were laid off in 2022 and 2023 as companies firmed up their paths to profitability. How are startups retaining key talent in this context? The third edition of the Mint Start-up Icon Summit promises to bring top startup founders, CXOs, employees, investors, top government officials and all other stakeholders to discuss these and other topics of relevance.