Tag: coronavirus pandemic

Categories
Finance

Open Digital Ecosystems Have Potential to Contribute Rs 35 Lakh Crore in India by 2030, Around 5.5% of the Projected GDP: Report

ODE (Representational Image) Photo Credits: mygov.in

Mumbai, August 28: Amid the coronavirus pandemic, Indian enterprises are increasingly working on their digital transformation. According to a joint report by investment firm Omidyar Network India and Boston Consulting Group, by 2030,  10 high potential national open digital ecosystems (NODEs) in sectors like health, agriculture and justice has the potential to create Rs 35 lakh crore in India by 2030.

This is expected to be around  5.5 per cent of the projected GDP in 2030, and also generate over Rs 15 lakh crore in savings.  Roopa Kudva, MD, Omidyar Network India said, “India has been a pioneer in the movement to build ‘digital highways.’ We were one of the first developing countries to have a population scale Digital ID initiative, and have built digital payments infrastructure such as UPI.”

The government was able to transfer Rs 37,000 crore directly to the bank accounts of 16 crore citizens using India’s digital infrastructure even during the pandemic. However, Kudva stressed that critical issues like privacy must be taken care of.  ODEs are defined as open and secure digital platforms that enable a community of actors to unlock transformative solutions for society, based on a robust governance framework.

The report envisioned three layers – digital platforms, community and governance – to transform service delivery through ‘Responsible ODEs’. The ODE approach suggests that the government should focus on creating the ‘digital commons’ and enable interoperability between siloed systems.

J Satyanarayana, Advisor, National Digital Health Mission and former chairperson, UIDAI said, “We need to raise the bar from systems-thinking to ecosystems-thinking. Digital ecosystems can evolve faster if we create the right environment, which includes open-standards-based architecture, data policies, collaborative design, and innovation.”

 

Categories
Startup

Here’s What Arvind Kejriwal’s Delhi Govt is Doing For Startups Amid COVID-19 Crisis

Startup
Startup (Photo Credits: Pixabay)

Delhi, August 13: Amid the coronavirus pandemic, when businesses have been badly hit, it is the startups who have been affected the most. In order to give fillip, Delhi Chief Minister Arvind Kejriwal recently met industry leaders, young entrepreneurs to draft a new policy for startups. The objective is to make Delhi a leading choice for startups.

Delhi boasts of over 7000 start-ups and it is also on top of the list of cities with the most number of active start-ups, according to a report by TiE. In addition to this, the CM further highlighted that the valuation of the city’s start-ups is about $50 billion. The report published in 2019, mentioned that Delhi-NCR is set to become one of the top five global startup hubs with 12,000 start-ups, 30 unicorns, and a cumulative valuation of about $150 billion by 2025.

The Objective Behind the Draft policy For Startups:

According to the statement released by the Chief Minister’s office, the objective of the draft policy is to support entrepreneurs and help create a robust economic and policy infrastructure that will create new jobs and add competitive dynamics into the current economic system.

Takeaways of CM’s Meeting With Experts:

The prominent participants in the discussion held were Ajay Chowdhry of HCL, Rajan Anandan MD Sequoia Capital, Padmaja Ruparel of Indian Angel Network, Sriharsha Majety, co-founder and CEO, Swiggy, Suchita Salwan, founder and CEO, Little Black Book, Tarun Bhalla, founder, Avishkaar and others.

Some of the suggestions included creating industry-academic partnerships, entrepreneurship programs for young professionals in Delhi and making the national capital’s physical infrastructure more conducive for startups to work.

Here’s the 2-Step Process of Drafting the New Policy:

The drafting of the new policy for startups will be conducted in a two-step process. The first step involved consulting industry leaders, experts from various sectors to provide valuable inputs in drafting the policy.

In the second step, the draft would be put up online for the public to recommend changes and suggest new policy rules.

Arvind Kejriwal along with the industry leaders are hopeful that with the new startup policy, Delhi will surely become a preferred destination for startups. It will also fight the economic instability that has been created due to the coronavirus crisis.

Categories
Startup Strategy

Startups From Home: 5 Business Ideas to Start From Home Amid COVID-19

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Mumbai, August 12: The entire world is reeling under the effect of coronavirus, from businesses being shut, factories non-operational, to employees being handed over pink slips. The pandemic has bludgeoned economies worldwide, and the smallest of businesses have felt the heat. In a scenario, when thousands have gone jobless, we take a look at five business ideas which you can start from the comfort of your own home amid the coronavirus pandemic.

The best part is that these business ideas will require a minimum to no investments. So if you are wondering to start a business from home, here are a few ideas which you can consider.

Sale of Masks, Gloves, PPE

The demand for masks has skyrocketed after countries across the world said that it is an important preventive measure to curb the spread of COVID-19. In India too, all the states have imposed a strict fine in order to ensure that people are abiding by the rule. From being sold as a fashion accessory to a life-saving piece of safety equipment, there is a huge demand for selling masks.

In such a scenario, there is an opportunity, if you want to start a business dealing with the sale of masks, gloves, PPE suits or hand sanitizers.

Remote Tutor

As a result of the coronavirus pandemic, when schools are shut, students are facing the problem to complete their syllabus and struggling with doubts. Here lies a great opportunity for home tutors who can continue to teach their students from home via online classes. One just needs a good internet connection to start with online teaching.

Fitness Trainer

The pandemic has taken a toll on our lives, with additional workload both at the office and at home, people are being stressed. On top of it, fitness centres at several places continue to remain closed. If you are a fitness trainer, then you can start your online classes, be it yoga, power yoga or meditation from the convenience of your home.

Cooking Classes

There has been a huge demand for online cooking classes ever since the lockdown. Your friends, family members, office colleagues have all been experimenting with different dishes and have been putting it up on social media. Amid the coronavirus induced lockdown when people are still hesitating to go to restaurants, they have been making most of the dishes on their own. From experimenting with new cuisines to trying out new ingredients, there is a huge demand among the people to learn quick and healthy dishes.

If you have a knack in cooking or an expert in this area, there is a huge opportunity for you to start with your online cooking classes.

Freelance Writing and Copyrighting

You can take up freelance writing and copyrighting projects. Initially, the payment can be low, but once you build your own portfolio of work, you can start demanding a premium for your service.

So if you want to start something on your own, don’t delay your plan. These are some business ideas which you can start from the comfort and the convenience of your own home today amid the coronavirus pandemic.