📈 Upskilling platforms on growth trajectory

Start Your Day with YS Buzz: Your 8 AM Snapshot of Today's Top Startup News! 16 February 2024 [View in Browser]( TOGETHER WITH Hello, AI is becoming an integral part of work—at least at Indian tech firms. About [59% of Indian enterprises]( are already actively deploying AI for organisational use cases, making India rank among the top surveyed countries to do so, a report said. However, ethics and limited skill sets remain top concerns hindering its further adoption. In other news, shares of Paytm owner One97 Communications [fell 5%]( on Thursday after the ED questioned its senior executives as part of preliminary examinations before a formal probe under foreign exchange rules. Extending its losses for the third consecutive session, Paytm shares settled at Rs 325.05 apiece—a lower circuit limit on the NSE. Meanwhile, car-sharing company Zoomcar’s quarterly adjusted core loss narrowed as it managed to [keep a lid on its operating expenses](. It reported an adjusted EBITDA loss of $4 million in the third quarter ended December 31, compared with a loss of $5.2 million a year ago. Elsewhere, the [United Kingdom]( and [Japan]( have slipped into a recession. Germany, which is also dealing with multiple crises such as persistent inflation, high energy prices and weak foreign demand, is now the world’s third-largest economy. Lastly, the [Odysseus lunar lander]( nicknamed “Odie” or IM-1, is on a historic journey to the lunar surface and hopes to make the first touchdown of a US-made spacecraft on the moon in five decades. In today’s newsletter, we will talk about - Upskilling platforms on growth trajectory - WeWork Labs’ plans for Indian startups - Strategies to fuel food service industry Here’s your trivia for today: Which mountain range separates Europe from Asia? --------------------------------------------------------------- --------------------------------------------------------------- Edtech Upskilling platforms on growth trajectory changes in the job landscape demand continuous learning and adaptability, with upskilling and reskilling emerging as essential strategies. Companies like Eruditus, upGrad, and Simplilearn are meeting this demand, witnessing significant revenue growth in FY23. Multiple factors are driving this business growth in upskilling and reskilling—individuals looking to reinvent careers and better work prospects, as well as fears over technology, especially AI, taking away jobs. Re-learning: - Some individuals argue that regardless of the current economic conditions, significant demand for skills will arise soon, leading to higher salaries, remarks Kashyap Dalal of Simplilearn Consumer. - For Simplilearn, the Gen AI theme is working “amazingly well”, so much so that a Gen AI application module is integrated across various disciplines, including data science, data analytics, cybersecurity, and cloud computing. - When it comes to senior professionals with 10+ years of experience, fear of missing out is the main trigger driving them to chase jobs such as thought leaders within their organisations, explains upGrad’s Mayank Kumar. [Read More]( --------------------------------------------------------------- Together with Brinc Embark on a transformative journey with Brinc A4X Accelerator Programs, in collaboration with GVFL and supported by YourStory! Explore 12-week virtual accelerators designed to empower early-stage founders for innovation, scaling, and impactful change. [🌟] About Brinc A4X Accelerator Programs: Tailored to empower startups in key sectors: Consumption: Focus on D2C and consumer SaaS. Industry & Enterprise: Startups innovating in sectors like pharmaceuticals, petrochemicals, textiles, and auto manufacturing. Emerging Tech: Support in AI, ML, IoT, Robotics, Blockchain, and more. Sustainability: Startups addressing climate change with a focus on alternative protein, climate tech, and electric mobility. [💰] What’s on Offer: • Funding up to Rs 2 crore [💸] • Resources, mentorship, and tailored support • Access to industry networks and expertise Apply now, programs kickstart in mid-March! For more, visit [[( or email [delano.fernandez@brinc.io]. Your innovation journey starts here! --------------------------------------------------------------- Funding Alert 1) Metalbook: $15M| Series A 2) Ayekart: $6.5M| Series A 3) Veera: $6M | Seed --------------------------------------------------------------- Interview WeWork Labs’ plans for Indian startups Labs—the accelerator programme by WeWork—was launched in 2012 to further global startup interest, with a special focus on establishing a framework for supporting entrepreneurship with investment and mentorship. Nearly six years after its launch in India, WeWork Labs now aims to incubate the 60,000 registered startups under DPIIT. Fostering growth: - Recently, it conducted its flagship event, ‘Jumpstart’, for the first time in Bengaluru to open up fundraising and networking avenues for early-stage startups and entrepreneurs. - Through its community of more than 70,000 members, WeWork Labs now invests up to $2,00,000 in pre-seed capital in startups across the fintech, retail, proptech, and SaaS, among other sectors. - About 20% of the members are closely affiliated with small businesses or startups like Zepto, Sugar Cosmetics, and Fynd. [Read More]( --------------------------------------------------------------- Report Strategies to fuel food service industry The growth of the food services industry in India is likely to be propelled by the adoption of the ‘house of brands’ strategy, helping foodtech firms scale and grow sustainably, according to a report by Redseer Strategy Consultants. The model refers to the practice of owning multiple brands under one umbrella. In the food services industry, it was pioneered by Curefoods, Rebel Foods, and EatClub, owning diverse cuisines under one roof. Takeaways: - Redseer’s report termed the strategy “effective” as it demonstrates average revenue at least five times more than standalone food brands. - Successful house of brands players possess the ability to scale multiple brands across cuisines, increasing the revenue potential compared to individual brands. - Redseer expects the country’s food services industry to surpass the $100-billion mark by 2028, growing at a CAGR of 8-10%. [Read More]( --------------------------------------------------------------- Namaste Doston, TechSparks ki duniya mein aapka phir se swagat hai! TechSparks, YourStory's flagship event, is set for its exciting return to Mumbai at the Grand Hyatt on February 29 and March 1, 2024. It's more than just a conference; it's a hub for the brightest minds in startups and tech. Here, you'll have the chance to engage with India's top investors and business innovators. Whether you're looking to pitch your ideas, seek funding, or form new partnerships, TechSparks is the place to be. This event is an incredible opportunity for networking with a select group of motivated individuals and leaders. It's a platform to share ideas, learn from industry pioneers, and contribute to shaping the future of tech in India. [Get Your Passes Today!]( --------------------------------------------------------------- News & Updates - [Social media:]( New York City, its schools and public hospital system have filed a lawsuit against the tech giants Facebook, Instagram, TikTok, Snapchat, and YouTube, blaming their “addictive and dangerous” social media platforms for fueling a childhood mental health crisis that is disrupting learning and draining resources. - [Private 5G:]( Nokia and Dell Technologies have agreed on a partnership to help deploy so-called private 5G networks and adapt networks to the cloud, they said in a joint statement on Thursday. Private 5G networks tend to be owned, operated, or leased by individual organisations. - [A Spinoff:]( Tata Group is considering a potential spinoff of its battery business, Bloomberg reported, as the Indian conglomerate expands its foray into the country’s renewable energy and electric-vehicle sectors. Here's what else we have for you The future of education is here, and it's powered by AI! In association with Coralogix Join the Bharat Innovators Series webinar hosted by AWS, AMD and YourStory, on "Future-ready education: Unmasking the dynamics of AI and skills mastery," to explore how AI is transforming the learning landscape. Feb 23, 2024 | 3 PM IST What you'll learn: How AI can personalise learning pathways and revolutionize knowledge acquisition. The urgent need for 21st-century skills in the face of automation and digitisation. Insights from industry experts on leveraging AI for better learning outcomes. Actionable strategies for building future-ready learning environments. Speakers: Giridhar L V, Co-founder & CEO, Nuvepro Technologies Hemant Sahal, Founder & CEO, Digii Moderated by Sunil PP, South Asia Lead for Education, AWS Don't miss this chance to join the conversation! [Register Now]( --------------------------------------------------------------- Leveraging Full-stack Observability in Gaming In association with AWS How can you build a better product with observability? How can a company work towards a DevOps engineering culture? How can you ensure optimal website and application performance as data volumes continue to grow? Decode all this and more in this conversation with Gopal Sharma, AVP - Engineering, Junglee Games and Chris Cooney, Developer Advocate, Coralogix on observability, security and the role of DevOps in building a better product. [Watch Here]( Did you know? Which mountain range separates Europe from Asia? Answer: Ural Mountains. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. 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