🎯 Breaking barriers in defence tech

The most interesting news selected specially for you! 25 July 2024 [View in Browser]( TOGETHER WITH Hello, Trading is risky business, and SEBI has the numbers to prove it. The number of intraday traders in India's equity market jumped 300% between 2019 and 2023. Seven out of ten, however, were [making losses]( according to a study by the regulator. If there’s anyone who understands risky bets, it’s Fortune 500 companies. On that front, the tech sector disappointed, with lacklustre shows from Alphabet and Tesla in their quarterly results. This begs the question: is the dominance of Big Tech waning? Elon Musk certainly doesn’t think so. Neither do the [7.43 lakh]( (and counting!) netizens who voted in favour of Tesla investing $5 billion into xAI in a recent X poll. Meta, in fact, is doubling down by rolling out its largest open-source [AI model](. [ICYMI:]( Enough for man’s greed, but not enough for man’s need? The UN blasted “shamefully high” hunger levels in a report that predicts almost 600 million people will be undernourished by 2030. Lastly, it’s time for a rude wakeup call. Some records aren’t meant to be broken. On Sunday, global average temperatures sizzled to 17.09℃, the [hottest day]( ever measured by humans. The best time to find a global solution was 50 years ago. The next best time is today. In today’s newsletter, we will talk about - Breaking barriers in defence tech - Greener, efficient waste incenerators - Solving large-scale national problems Here’s your trivia for today: Who was the first woman to walk in space? Women Entrepreneurs Breaking barriers in defence tech Fascinated with innovation in the defence sector, Priyanka Singhal entered the male-dominated industry and built Ammunic Systems. One of the company’s landmark achievements is the development of India's first fully indigenous electronic fusing system for underwater munitions targeting submarines. Cutting edge: - Singhal’s first encounter with defence tech came during her internship at Defence Research and Development Organisation where she was exposed to warhead electronics, explosive initiation systems, and real-time field trials. - Ammunic System’s early projects included trading electronic components and undertaking college projects to generate revenue. Gradually, the company began securing orders from various defence agencies, including the Army, DRDO, and the Navy. - Despite initial scepticism from the industry, Singhal persisted. In the financial year 2024-25, Ammunic Systems is projecting a revenue of Rs 40 crore, with a company valuation rising to Rs 250 crore. [Read More]( --------------------------------------------------------------- Together with Dell Technologies Legal shield for your Startup: Get expert advice The excitement of launching a new venture is unparalleled, but navigating the complex legal landscape can be a daunting challenge. Don't let legal hurdles slow down your growth. Join us for the "Startup Governance 101: Navigating the Legal Landscape" webinar, powered by Dell Technologies, where industry experts will share invaluable insights to help you build a solid legal foundation for your startup. Why You Can't Miss This Webinar: - Choose the right business structure: Understand the legal entities available and select the one that aligns with your business goals. - Protect your ideas: Learn how to safeguard your IP with robust legal strategies. - Craft watertight contracts: Protect your business with well-drafted agreements. - Navigate the regulatory maze: Stay compliant with relevant laws and regulations. - Build a Scalable Legal Framework: Create a solid legal foundation for future growth. Our esteemed speakers, Vivek B N and Ashutosh Sharma, Partners with the Corporate and Commercial practice at Khaitan & Co., will share their expertise and provide practical advice to help you overcome legal challenges. - Date: Thursday, August 1, 2024 - Time: 3:00 PM IST - Platform: Zoom (link provided upon registration) [Secure your spot now]( Don't miss this opportunity to gain the knowledge and tools you need to build a successful and sustainable startup. [Know More]( --------------------------------------------------------------- Startup Making waste incinerators efficient incinerators have a reputation problem. Research has shown that older incinerator technology and infrequent maintenance schedules are linked to health issues, including certain cancers. Neo San, a Bengaluru-based startup, aims to decentralise India's waste management system by helping its customers treat waste at its source. Its incinerators burn waste with 90% less emissions than traditional ones. Clean air: - The company currently sells two models of its incinerators, Neo-X and Neo-XT, that can process waste ranging from multi-layered packages to bio-medical waste between 25 kgs per day and 60 kgs per day. - Its incinerators collect data on the waste it burns, including how much emissions it managed to cut down and the kind of waste it burned in the cycle. - Neo San has sold 150 units of its incinerators. Its clients include Bengaluru International Airport, TATA Steel and Microsoft. [Read More]( --------------------------------------------------------------- Event Solving large-scale national problems Ashok Jhunjhunwala, Institute Professor, IIT Madras, believes that India needs to find creative solutions to solve national and global problems such as climate change. He was speaking at Tamil Nadu Story 2024, YourStory's flagship event in the state. Key takeaways: - India has undergone significant changes in the past three decades. From a time when basic amenities and technological infrastructure were scarce, India has now emerged as a global leader in various sectors, including IT services, space technology, and pharmaceuticals. - The revolution in telecommunications was a turning point in India's growth story, he said. - India produces millions of engineering graduates annually. However, he stressed the need for education to focus on practical application rather than just theoretical knowledge. [Read More]( --------------------------------------------------------------- From the CapTable The Union Budget’s missed opportunity: Fixing fixed deposits Yesterday, as Finance Minister Nirmala Sitharaman’s Union Budget speech drew to a close, her announcements about the abolition of angel tax and the removal of the indexation benefit for property sales stole headlines. For many in the banking space, however, what wasn’t mentioned in the Budget was as conspicuous as what was—specifically, the humble fixed deposit (FD).Though FDs remain the preferred choice for most investors. the fine print, however, reveals a concerning development for the health of the overall banking sector. The total proportion of monies going to FDs in comparison to other financial instruments is shrinking. The trend underscores a broadening investment horizon, where mutual funds and other financial intermediaries are gaining prominence. While this in itself is not in concern, it becomes an issue when the country’s rapid credit growth is taken into account. As deposits slow down and credit growth continues to speed up, it puts banks under increasing pressure. Improving the attractiveness of FDs is one way to go about shoring up banks’ resources—something the recent budget appears to have ignored. Key Takeaways: - The Union Budget 2024-25 addressed many pressing issues, such as angel tax. One matter, though, was conspicuous by its absence—Indian banks’ struggle to attract deposits. - Indeed, the humble fixed deposit, once a go-to, has seen a decline in popularity as Indians flock to the higher returns offered by capital markets. - This is a major concern for banks, which have seen the credit-deposit ratio soar to a two-decade high, indicating significant pressure on their resources. - Encouraging FDs is one way to alleviate this, but while banks have upped their interest rates, the government must also address the tax inefficiency of FDs. [Continue Reading]( --------------------------------------------------------------- News & Updates - [Funding round:]( Compliance startup Vanta Inc. said it had raised a $150 million funding round led by Sequoia Capital that valued the company at $2.45 billion, two years after its last round. - [Leaving luxury:]( LVMH shares slid 4.4% on Wednesday morning as reduced spending by shoppers on handbags and champagne hit the value of luxury goods firms around the world amid fears of ongoing weak demand. - [Incident report:]( Cybersecurity company CrowdStrike identified a bug in a quality control tool used to check system updates that led to outages for millions of Microsoft Windows users and upended computer systems across the world last week. Did you know? Who was the first woman to walk in space? Answer: Soviet cosmonaut Svetlana Yevgenyevna Savitskaya. She became the first woman to perform a space walk on July 25, 1984 on her second trip to the Salyut 7 space station. 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