Day 1 at TechSparks 2022

Hello reader,

“Sabka time aayega,” it started your history CEO and Founder Shradha Sharma, kicking off the 13th edition of TechSparks 2022, added that “no one can take what is rightfully yours” in an inspiring opening note that set the tone for the rest of the day.

On Day 1 at TechSparks 2022, back for 13 years in an offline avatar, the star-studded lineup included Zerodha’s Nithin Kamath, Ola’s Bhavish Aggarwal, OPEN’s Mabel Chacko, and OYO’s Ritesh Agarwal, among other notable personalities. .

We also had influencers Bhuvan Bam and Ankur Warikoo talk about their lives and how social media has evolved since it started.

After an exciting first day, watch edtech champions Byju Raveendran and Divya Gokulnath in an unfiltered conversation with Shradha Sharma, founder and CEO of Your historyon day 2, as they discuss the current state of the Indian edtech industry and what lies ahead.

Plus, we’ve got Kabeer Biswas, Co-Founder and CEO of Dunzo, to reveal the secrets behind building a hyper-local ‘Made in India’ business.

In the meantime, we’ve also planned a special set of sessions focused on Web3, and much more! So don’t miss it!

ICYMI: This “magnificent” tree, believed to be over 500 years old, is named Tree of the Year by the Woodland Trust.

Didn’t we tell you that old is gold?

In today’s newsletter, we will talk about

  • Indian can lead with electric vehicles: Bhavish Aggarwal
  • Beware of overvaluation: Nithin Kamath
  • Top 30 Most Promising Indian Startups of 2022

Here’s your trivia for today: What early web browser was developed by Carnegie Mellon University?

Tech sparks 2022

Indian can lead with electric vehicles: Bhavish Aggarwal

The pandemic hit Ola’s mobility business hard. However, the group’s co-founder and CEO, Bhavish Aggarwal, told TechSparks 2022 that its auto-rickshaw and two-wheeler businesses had recovered.

And now the company has set its sights on making India a world leader in the production of electric vehicles. Ola Electric’s S1 and S1 Pro EV two-wheelers have already made the company one of the leaders in the segment.

“This is India’s time; Why can’t we make the country of our dreams in our lifetime?

Ola’s electric vehicle ambitions:

  • Ola Electric is focusing on fine-tuning the supply chain and leveraging existing infrastructure to create charging stations.
  • Bhavish emphasized that the culture of safety was ingrained at Ola Electric from the design and engineering stages to the customer sales stage.
  • The founder has postponed IPO plans for next year, which may be for Ola or Ola Electric.
Bhavish Aggarwal

Tech sparks 2022

Beware of overvaluation: Nithin Kamath

Nithin Kamath, founder and CEO of Zerodha, believes it’s important to start learning how to manage finances from an early age.

“People like us go home and talk about taking risks and entrepreneurship. But the younger generation is much more prepared to take risks,” Nithin said at TechSparks 2022.

However, even as we become entrepreneurs and investors, we can fall into the cycle of overfunding and overvaluation, he said. This comes amid shares of public tech companies such as Paytm, Zomato, and Nykaa falling below their IPO price.

Net worth is not valuation:

  • Zerodha valued itself at $1 billion during an ESOP buyback program in 2020. The Hurun Startup Valuation list later pegged its value at $3 billion.
  • Nithin said that over-financing and over-valuation put additional pressure on businessmen to keep justifying the numbers.
  • He added that the ongoing funding winter “brings resiliency” as founders begin to focus on consumption rates and unit economics.
Nithin Kamath - TS

Tech sparks 2022

Top 30 Most Promising Indian Startups of 2022

On Day 1 of India’s most influential startup tech summit, TechSparks 2022, Your history released Tech30, a specially selected list of India’s 30 most promising startups. First created 11 years ago, previous winners have included companies like Freshworks, Chargebee and Innovacer.

“The startup ecosystem is going through tough times, and that means we don’t have to compete, but collaborate. And we will always be by your side on your future journey,” he said. Your history Founder and CEO Shradha Sharma.

Key points:

  • The Tech30 startup list was selected from over 1,580 applicants.
  • Just over 71% of applicants were in Tier I cities, while 20 Tier II locations and more had applications from five or more startups.
  • A dozen Tech30 winners were backed by prominent investors including Sequoia Capital India and Kunal Shah (Founder, CRED), and 6 were backed by Accel and Tiger Global.
Technology30 2022

news update

  • Smaller net loss for Zomato: Food delivery company Zomato reported a narrower loss for the second quarter, thanks to a rise in online order volumes and value. The adjusted basic loss, excluding figures from its recently acquired Blinkit fast trading business, fell to $7.37 million.
  • Unintended Consequences: FTX, once the second largest cryptocurrency exchange in the world, is now worthless, according to one of the company’s early investors. In a note to partners, venture capital firm Sequoia announced that it had zeroed out its investment in FTX, valued at $150 million.
  • Twitter payments: Elon Musk detailed his vision for Twitter’s plan to enter the payments market. He suggested that in the future, users could send money to others on the platform, withdraw their funds to authenticated bank accounts, and later perhaps be offered a high-yield money market account to encourage them to move their cash around. . to Twitter.

Here’s what to keep in mind

  • TechSparks 2022 Day 2
  • US Treasury Secretary Janet Yellen will visit India to participate in the 9th India-US Economic and Financial Partnership (EFP) dialogue.

What early web browser was developed by Carnegie Mellon University?

Answer: Lycos

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