The Budget proposal will help startups with better incubation, talent and capital
The government on Wednesday approved Rs 10,000 crore (Rs 100 billion) 'Fund of Funds for Startups' to support them with an aim to generate employment for 18 lakh persons.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
'What has happened at Byju's is no surprise to anyone.'
Tech grads from BITS Pilani identify a problem and then use technology to solve it. The Visit story.
As many as 11,500 startups would come up in the country employing over 2,50,000 people by 2020, according to key findings of India Start-up Report 2014 of industry body Nasscom.
The dealers operating in the space have jumped nearly three times over the past two years.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Seven months down the line, not much progress has been made, except that the scheme is still being fine-tuned.
As part of the deal, Padukone will own equity in Drum Foods.
Investments by private equity and venture capital funds (PE/VC) declined by 22 per cent in March to $4.6 billion spread across 107 deals, a report said on Wednesday. The deal activity showed an increase of 54 per cent by value at $15.5 billion across 360 deals, largely on the back of heightened activity in the startup space, the monthly report by IVCA and EY said. "While India's position as an attractive destination for PE/VC investments is expected to remain strong in 2022 given its high growth and macroeconomic and policy stability, the continuing geopolitical tensions, rising inflation, quantitative tightening by the US FED and inversion in the US yield curve are potential downside risks, making investors circumspect," Partner at EY Vivek Soni said.
Nine companies incubating at StartupVillage have made it to the second round of Nasscoms flagship programme to support 10,000 technology startups across India.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
Vani Kola, Karthee Madasamy, T V Mohandas Pai also invest in the media startup
The partners intend to invest $2 million annually through the India Innovation Growth Programme for the entrepreneurs to develop technology-based solutions for the betterment of the society
In two years, the start-up Overqualified Housewives has helped over 6,000 women across India find flexible-job roles across India from salaries ranging between Rs 8,000 to Rs 80,000, making them financially independent.
While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
E-commerce is awash in money, raising concerns about whether this is just another unsustainable internet trend headed for a bust.
The 4 week online learning programme is available in English and Hindi, and will soon be offered in some regional languages.
Investors seem to be very keen on investing in startups.
'Factors such as working professionals seeking better lifestyles, traditional housing challenges, community and networking, and urban migration for jobs are driving the growth in the co-living segment.'
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
Byju's founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. "This was supposed to be a happy correspondence.
Following the Reserve Bank of India's (RBI's) action against Paytm Payments Bank, participants in the fintech ecosystem have turned their attention to giving priority to compliance with regulatory norms. Fintech industry players say the episode will ensure adherence to such measures. Executives Business Standard spoke to said companies should have clarity on their requirements.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
He assured the startups that both the banking system and the government will make the resources available to them
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
This is Tata's seventh investment this year.
Former cricketer and Bharatiya Janata Party member of Parliament Gautam Gambhir has invested in community health monitoring platform FYI Health that uses various tools, including contact tracing, to deal with COVID-19. The company works on "herd intelligence" to create a safe work environment for enterprises, the company said in a statement on Tuesday.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Of the first 189 whose credentials have been probed from the 400 applicants till date, barely 30 make it - and only one qualifies for IPR benefits.
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
