Last week marked a watershed moment for the Indian startup ecosystem. Zomato IPO and PayTM DHRP filing signaled the coming of age of the Indian startup ecosystem. The multiplier effects, both financial and emotional, these two events will trigger and its impact on our Indian psyche will be immense. If we are looking for a moment in time to mark the before or after of two distinct phases of growth of the startup sector, it is last week.
Two independent and unrelated industry events also happened last week are a) RBI action on Mastercard and b) Google action action third party cookies on Chrome. Between these four events in one week, was on display the opportunities and challenges ahead of us. While the two landmark IPO’s foretell the promise of the sector, the RBI - Mastercard tussle points to the policy challenges for the nascent industry and the Google Chrome - third party cookies development portent the threat of monopolisation powers of BigTech.
It is the choices that we make as a market and a country that will set the stage for the course forward, and will also end up serving as a blueprint for other nations around the world as everyone transitions into a digital first economics & society. Exciting times ahead; one that brings along its own share of opportunities & unique challenges.