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There is an urgent need to expand the availability of capital for the flourishing Indian startup ecosystem, IDFC First Bank chief executive and managing director V Vaidyanathan said.
Speaking at the ET Startup Awards, Vaidyanathan expressed concern over the low funding rate for new ventures and said even the most innovative ideas fail without adequate financial backing.
“In a recent meeting with a venture capital firm, I was told that out of approximately 1,000 startups that pitch to a VC, only about 40-50 receive financing. This conversion rate is…
