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India's agriculture water technology sector requires investments of Rs 500-600 crore to achieve widespread adoption of smart irrigation solutions even as the country faces a deepening water crisis, according to the latest report. The study by DCM Shriram on "The Investment Mismatch in AgWater" highlights that despite agriculture consuming the largest share of water resources while contributing 16 per cent to GDP and employing 55 per cent of the workforce, the sector struggles with efficiency and adequate funding. India has between 70-100 active AgWaterTech startups, but many risk closure due to investment hurdles, according to the report. "Limited data, long gestation periods, and the high proportion of small and marginal farmers make AgWaterTech less attractive to investors," it added. Ajay S Shriram -- Chairman and Senior Managing Director, DCM Shriram and Director of DCM Shriram Foundation -- emphasised the severity of the situation, saying, "Water is the most critical resource
IT major Wipro on Wednesday said it will invest USD 200 million (about Rs 1,740 crore) in its arm Wipro Ventures to accelerate its funding for startups in the technology innovation space. This marks the fourth funding round for Wipro Ventures since it began operations ten years ago, and is aimed at speeding up investments in startups at the early to mid-stage level, a company statement said. "This latest investment reaffirms our commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. We envision a collaborative ecosystem, where these emerging technologies can be deployed globally, drive progress, and create sustainable value for all stakeholders involved," Wipro CEO and MD Srini Pallia said. Established in 2015, Wipro Ventures focuses on identifying and investing in promising early-stage startups that drive technological innovation. The Wipro Ventures team connects Wipro and its clients to a global ecosystem o
Lauding 'Startup India' as a transformative programme, Prime Minister Narendra Modi said on its ninth anniversary on Thursday that the initiative has propelled India to become one of the largest and most vibrant startup ecosystems globally. It is a landmark initiative that has redefined innovation, entrepreneurship and growth, he said, describing the programme as "very close to my heart," as it has emerged as a powerful way of furthering youth empowerment. He said on X, "Over the past nine years, this transformative program has empowered countless youngsters, turning their innovative ideas into successful Startups." People would doubt India's ability to thrive in this system just a decade ago, he added. The prime minister said this "transformative" programme has empowered countless youngsters, turning their innovative ideas into successful startups. From tech-driven solutions to rural innovations, healthcare advancements to biotech breakthroughs, Fintech to EdTech, clean energy to
Alternate investment funds (AIFs) have sought from the government specific funds for investments in new-age, sunrise and deep-tech startups with a view to promote innovation in the country, an official said. They have also urged the government to announce a fresh round of funds under the Fund of Funds for Startups (FFS) scheme. These demands were raised during a meeting between AIFs and the officials of the Department for Promotion of Industry and Internal Trade (DPIIT) here last week. The department held discussions with AIFs on ways to promote funding for startups in the country, the official said. "In the meeting AIFs demanded more funds under FFS. They demanded an increase in the duration of FFS from the existing 12 years," the official added. At present FFS is sector agnostic. The AIFs have suggested specific funds for the sunrise and new-age sectors. Issues like capital mobilisation and promoting funding for startups in smaller cities were also discussed during the meeting.