50% tech startups expect revenues to hit pre-COVID-19 levels in less than 6 months: Report

The NASSCOM Startup pulse survey has covered over 270 tech startups across different categories.

Moneycontrol News

November 25, 2020 / 11:30 PM IST

With digital adoption increasing, over 50 percent of startups surveyed expect revenues to hit pre-COVID-19 levels within six months, according to a recent report.

The NASSCOM Startup pulse survey II, Indian Tech Startups – On the Road to Recovery, surveyed over 270 tech startups across different sectors and maturity levels. NASSCOM is the trade organisation for IT/ITeS industry in the country.

According to the report, the pandemic has accelerated digital adoption, which tech startups can leverage. Startups are tapping into the opportunity by shifting their priorities to tackle the impact of the pandemic and cater to the growing need.

For instance, many startups diversified their product portfolio and changed their business model to tackle COVID-19. Cost optimisation will continue to a key priority at least in short-term, the report said.

There have been long-term strategic changes too. Tech startups are now expanding to newer verticals and investing in deep tech to develop AI-based solutions.

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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