Less than 50% of tech startup founders expect better funding environment in 2024: Nasscom-Zinnov report

While the global environment remains uncertain, 46 per cent of Indian tech startup founders expect a better funding environment in 2024, said technology industry association Nasscom and consulting firm Zinnov in their latest startup survey comprising over 100 startup founders. 31 per cent of the respondents are of the view that the funding scenario will see no change from 2023 while 23 per cent are pessimistic about the change this year.

Mirroring global trends, Indian tech startups had witnessed a substantial drop in funding value that reached a total of around $6 billion in 2023, down 67 per cent over the preceding year. Deal volumes also dropped to 824, down by 48 per cent over 2022.