The mood in the economy is definitely on the upswing. The outcome of the largest electoral exercise conducted on this earth, and the subsequent policy actions of the new government has filled each one of us with hope and expectations of prosperity. Some of the lead macro-economic indicators are being seen as harbinger of good times.
In my career, I have never seen such “across the board” optimism. This is despite the fact that I was fortunate to start my career in an economically independent India of the 90s. Hopefully, effective governance and prudent fiscal management will now support our economic freedom. Going forward, each incremental effort of our nascent start-up ecosystem and entrepreneurs should yield exponential rewards.
These are still early days, and words have to be followed up with concrete policy action when it comes to good governance.
At YourNest, we too are experiencing the exuberance that is being felt in the general economy and are moving forward with confidence and conviction. This is reflective of the rising investor trust and confidence in start-ups through fresh capital commitments into the fund starting April’14.
At the portfolio level, MyCityKids is consistently improving its engagement with the parent, as is evident in the ever rising global alexa-ranking that it enjoys, with non-paid (organic) traffic close to 90%. Bookmycab continues to grow at 10-15% month-on-month with soft launch in Kolkata & plan for Delhi in the coming months. Uniphore is on-boarding an investor with deep pockets and international exposure. PoP is democratizing its analytics to win the confidence of industry players.
Sunil K. Goyal
July 11, 2014