Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
IIT Bombay has, over the last decade, generated Rs 200 crore (Rs 2 billion), only via donations from its alumni.
IDG Ventures India on Thursday announced that Kiran Karnik, former president of National Association of Software and Service Companies (Nasscom) and a recipient of the Padma Shri has joined the company, on their global advisory board. IDG Ventures India's advisory board includes icons like N Balasubramanian, K B Chandrashekar, Arjun Malhotra, Sridhar Mitta, Jagdish Sheth and V Sumantran. Kiran Karnik was president of Nasscom till January 2008.
IT consultancy and services company Techspan India plans to invest $16 million to grow its infrastructure four-fold by June this year.
Hundreds of BTech students of DelhiUniversity on Saturday staged a protest outside the Vice Chancellor's office, demanding that their four-year BTech course should not be scrapped.
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