PROMISING START-UPS REPORT - REPORT AND INDICES
News: WEF’s
100 most promising tech startups list mentions four Indian firms
What's in the news?
● Four
Indian firms including Giftolexia Solutions and Xacmaz Technology, have earned
a mention in World Economic Forum’s
(WEF) annual list of 100 most promising technology pioneers.
Key takeaways:
● Indian
firms Giftolexia Solutions, Xacmaz Technology, evolutionQ and Next Big
Innovation Labs were amongst the World Economic Forum' s (WEF) 100 most
promising technology startups.
WEF's Report:
● The
World Economic Forum' s (WEF) released a list of 100 most promising technology
startups.
Sectors covered:
● This
list is a compilation of companies
making progress in sustainability, advanced manufacturing and inclusive
healthcare.
Significance:
● The
WEF provides the community with a platform to engage with public and private
sector leaders and to contribute new solutions to overcome the current crisis
and build future resiliency.
Go back to basics:
World Economic Forum:
● The
World Economic Forum (WEF) is an annual gathering of leaders from business,
politics, and academia to discuss the most pressing issues confronting the
global economy.
● The
World Economic Forum is the International
Organization for Public-Private Cooperation.
Backdrop of WEF:
● It
was founded in 1971 by Swiss-German
economist and Professor Klaus Schwab in a bid to promote global cooperation on
these most pressing problems.
Headquarters: Geneva, Switzerland.
Funds:
● The
WEF is largely funded by its partnering
corporations.
● These
are generally global enterprises with an annual turnover greater than $ 5
billion.