Bangalore, 01 April 2020: India’s leading startups have made a fervent appeal to Prime Minister Mr. Narendra Modi to urgently provide a robust relief package to ensure that we overcome the mdevastation during this extraordinary economic downturn caused by the COVID-19 epidemic.

“Our startup companies across the nation are inherently young, less resilient and most vulnerable,” said the joint appeal signed by startups from all the major sectors like information technology, biotechnology, IT Enabled services, ecommerce, fintech, gaming, semi conductors, venture capitalists etc. ABLE members were among the signatories.

“We discussed this over the past few days and decided to appeal to the government for quick relief,” said Dr Anand Anandkumar, Chairman of Bugworks Research. He is also the Treasurer of ABLE.

Making a strong case for an urgent relief package, the signatories pointed out that Projections indicate that by 2025, India may well have 1 lakh+ startups, employing more than 1 Crore across the nation, and produce 100+ unicorns (US$ 1+ Billion valuation), with a total market value exceeding $500 billion (35 Lakh Crores).

Link to the Letter to the PM from Startups: http://ableindia.in/manage/images/resourceuploads/MjzCQR_Letter%20to%20the%20Prime%20Minister%20from%20Startups.pdf

“We discussed this over the past few days and decided to appeal to the government for quick relief,” said Dr Anand Anandkumar, Chairman of Bugworks Research. He is also the Treasurer of ABLE.