Startup Scoop- Edition 2

Why this newsletter??

Most of us don't have time to keep up with all the news that we want on a day to day basis. We're here to bring you, Startup Scoop, a single brief solution for all the people working behind the scenes in the world of entrepreneurship so that we bridge this gap.?

Before we begin, here’s a soundtrack to set the vibe Ooyy - Bottai

Temasek buys 41% stake in India's Manipal Health for $2 billion?

Singapore’s sovereign wealth fund Temasek Holdings has bought Bengaluru-based Manipal Health Enterprises for more than $2 billion in the largest deal in the Indian healthcare space. With 29 hospitals across 16 cities, Manipal Health Enterprises is the second biggest hospital chain in the country. The sector is led by Apollo. Already 18% stake in the Manipal Healthcare was held by Sheares Healthcare, owned by Temasek. After buying 41% more stake from Dr Ranjan Pai and family, promoter group and other investors, the stake of Temasek jumped to 59%. The company is valued at $5 billion in the deal.?

"Success is not final, failure is not fatal: it is the courage to continue that counts." - Winston Churchill?

Fintech Industry to develop at 31% CAGR from 2021 to 2025?

India's digital loan sector increased from $9 billion in 2012 to more than $270 billion in 2022. According to future predictions, the industry would grow by 4.75 times to $1.3 trillion in 2030.

How OpenAI’s ChatGPT is Revolutionising the FinTech Industry??

Chatbot technology is being used by financial institutions to simplify client interactions with their products and services and to streamline internal processes. A few other examples of the numerous chatbots developed by banks are Ada by Diamond Bank (now Access Bank), Tamada by Access Bank, Ziva by Zenith, Leo by UBA, Sami by Stanbic, Ivy by Fidelity Bank, and Oxygen by Keystone.

"Innovation distinguishes between a leader and a follower." - Steve Jobs

Goldman Sachs' 10,000 women initiative created 12,000 jobs, added Rs 28 billion in revenue within 18 months

Goldman Sachs has released the findings of its 10,000 Women study, which shows that the business and management education initiative for women entrepreneurs has added approximately Rs 28 billion in revenue to the Indian economy and created 12,000 new jobs within 18 months of completion. The 10,000 Women program was launched in India in 2008, offering business and management education, mentoring, networking, and capital access to women entrepreneurs. The report is especially relevant this year as India hosts the G20 summit, which aims to promote "women-led development" as one of its key objectives.

Cricket at the Olympics??

For more than a year there has been talk about cricket’s inclusion in the 2028 Olympics to be held in Los Angeles. Just going by the numbers, it should be a no brainer. With billions watching the sport, in South Asia and its ever-growing diaspora, cricket is the perfect foil for the International Olympic Council (IOC) to enter a market that has so far remained untapped.

"What do you think, should cricket be part of the next Olympics?"

Some insights into the entrepreneurial world :?

• Cold chain solutions provider Celcius Logistics has raised Rs 100 crore in a funding round led by IvyCap Ventures.
• Cybersecurity startup CYFIRMA has raised $5.5 Mn in a Pre-Series B round from Israel’s venture fund OurCrowd and India’s L&T Innovation Fund.
• The number of startups in India grew 300 times over the last nine years. There has been a quantum jump in startups from around 350 startups in 2014, to more than 90,000 now with more than 100 unicorns. -Jitendra Singh (Union Minister)
• EdTech company BYJU's lenders have wanted up to $200 million (approximately Rs 1,600 crore) in prepayment combined with a higher rate of interest in order to restructure its USD 1.2 billion (Rs 9,600 crore) term loan B (TLB).?
• PhonePe gets $100M investment from General Atlantic.

Here’s a book we highly recommend??, Misbehaving - The Making of Behavioural Economics, written by Nobel Prize winner, Richard Thaler.

This book aims to alter our perceptions of economics and demonstrates how it may be used in practical circumstances.

With this, it’s time to wrap up. But before we go, we want your suggestion on something!?

In order to foster the spirit of entrepreneurship on campus, what would you like to see ECell do next?

Hit the newsletter icon to answer: ??

Stay tuned for more updates, tips, and resources from E-cell MIT to help you stay ahead of the curve in the fast-paced world of startups.?

Stay Hungry! Stay Productive!

Until Next Time from?E-Cell, MIT

With love, From?Abhimanyu, Ashutosh, Kush and Kartikey ??