Page 6 - Start- Ups

SoftBank results: First profit in 5 quarters with $6.6 bn net income

Net profit totalled 985.5 billion yen ($6.6 billion) in the three months to December, versus a 744.7 billion yen loss in the same period a year earlier

CEO Vijay Shekhar Sharma strives to save Paytm amid regulatory crisis

Sharma has put up a brave face even as nervous investors plundered $2 billion off Paytm's valuation after RBI ordered his banking arm to stop most of it operations from March 1

EU approves new rules aimed at reducing cost of listing companies

A post-Brexit Britain is also reforming its listing rules in similar ways, as it too faces companies opting to list in New York rather than on a local exchange

Tax benefits extension to startups till Mar 2025 progressive move: Industry

The interim Budget announcement related to the extension of tax benefits to startups by one more year till March 2025 underlines the government's commitment towards creating a conducive environment for startup development and sustainable investments, the industry said on Thursday, terming it a progressive and encouraging move. "...the extension of tax benefits until March 2025 for startups, sovereign wealth, and pension funds signify a government committed to supporting growth and resilience. The prolonged tax benefits indicate a steady commitment to creating a conducive environment for startup development and sustainable investments," MobiKwik Founder and CEO Bipin Preet Singh said. CEO and Co-Founder of magicpin Anshoo Sharma lauded the move saying it would provide much-needed continuity and inflows to the Indian startup ecosystem. "We also appreciate the extension of tax benefits to startups on investments made by sovereign wealth or pension funds to 31.03.2025, this will provide

Winning, losing and entrepreneurship

There have been numerous books on startups, big and small, but writer-entrepreneur and motivational speaker Alok Kejriwal's account of success stays with the readers

UP plans to integrate higher education with incubators to support biz ideas

According to a KPMG report, Uttar Pradesh emerged the country's fourth-largest startup ecosystem, with eight unicorns and two potential soonicorns. At present, two soonicorns are working in the state

Back to campus: Startups to fire up hiring engine for talent boost

Hiring among these startups increased by 20 per cent during the year compared to 2022. Moreover, they reported that the reduction in their workforce decreased by 7 per cent in 2023

Elon Musk's AI start-up seeks to raise up to $6 bn from global investors

Thanks to the popularity of OpenAI's chatbot ChatGPT, the AI industry has been a rare bright spot in a subdued start-up funding environment

Startup India has become vehicle to garner publicity for PM: Kharge

Congress president Mallikarjun Kharge alleged on Tuesday that the Narendra Modi government is only drum-beating about the National Startup Day and that "Startup India" has become a vehicle to garner publicity for the prime minister as it has fallen short on delivery. He also asked the government why has it not provided tax benefits to 97.5 per cent of the recognised startups in the country. "The Modi government is drumbeating and telling us to celebrate National Start Up Day. But our startup entrepreneurs, creative people and our jobless young have been pushed to the wall, since the launch of 'Startup India' in 2016 by PM Modi," Kharge said in a post on X. He said the Congress wants to ask three direct questions -- "The BJP promised Rs 20,000 crore for Startup Seed Fund in its 2019 manifesto. What happened to that? Reality: They have approved a pittance of Rs 525.27 crore for it, that also for a 4-year period starting 2021-22." "Is it true that 1,00,000 people have lost jobs in ...

Indo Petroleum Marketing to set up 100 fuel outlets; to start from Assam

Startup fuel retail firm Indo Petroleum Marketing (IPM) on Thursday said it will set up 100 fuel stations across the country within the next five years while starting its business from Assam. The Delhi-based company has already generated a net worth of Rs 250 crore to roll out its network to sell different types of fuel in the country. "IPM will set up retail outlets or petrol pumps across the country to undertake fuel sales to the public. In the first phase, we will set up 100 outlets within five years," IPM Founder Gyan Prakash Sharma told PTI here. He said that the firm is the first Petroleum and Natural Gas Ministry-authorized startup private Oil Marketing Company (OMC) to commence operations on the ground. "To begin our journey, we will start from Assam. We plan to set up five retail outlets in remote areas within the next two years. The first outlet will come up in Jorhat district", Sharma said. The company has already discussed its plans with the Assam government, which has

SoftBank to resume investing in Indian startups after 18-month hiatus

SoftBank is now actively pursuing investments in new-age enterprises and expanding its portfolio in India

SalarySe secures $5.25 million in seed funding from Peak XV Surge, Pravega

The company has plans to develop a tech stack for the credit-on-UPI (Unified Payments Interface) product and drive its adoption in the country with the latest round of funding

Vibrant Gujarat summit: Seminars planned in Gandhinagar from Jan 10-12

Managing Director of Gujarat Mineral Development Corporation, Roopwant Singh, on Friday announced that the state is all set to host the Vibrant Gujarat Global Summit (VGGS) 2024

60% startup founders report increased revenue, profitability in 2023

Navigating 2024, tech startup founders expect to continue the revenue growth path with measured steps, focusing on optimizing expenditure and maximizing profitability for B2B tech startups

Space startups report success of in-orbit experiments onboard Isro's POEM

Indian space startups Dhurva Space and Bellatrix Aerospace have successfully tested their P30 Satellite Platform and high performance green propulsion systems respectively onboard ISRO's POEM initiative. Hyderabad-based Dhruva Space, in a statement, said the successful testing of 'Launching Expeditions for Aspiring Payloads - Technology Demonstrator' (LEAP-TD) will help embark on its satellite mission. The statement said Dhruva Space has validated the P-30 platform and its various subsystems in-orbit and the results were confirmed by reception of telemetry and beacon data at the ground station of the Thiruvananthapuram-based Indian Institute of Space Science and Technology (IIST). "These subsystems include On-Board Computer, Ultra High Frequency (UHF) TT&C Module, Beacon in UHF, Attitude Control System with a Reaction Wheel from Comat, and Power Distribution Board," the Dhruva Space statement read. ISRO's PSLV Orbital Experimental Module (POEM) enables in-orbit scientific ...

Dec 2023 becomes highest funded month as startup investments cross $1.6 bn

Budding companies had raised $1.4 million in January this year. Regardless, startup funding hit a seven year low in 2023

Tech entrepreneur's tips on how to start up

Great time to be deploying capital, will be busy in 2024: Fundamentum GM

Focus on technological edge and prudent deployment

BharatPe earns Rs 904 cr against a loss before tax of Rs 886 cr in FY23

BharatPe's EBITDA loss declined by about Rs 158 crore in FY23, it said in a statement

100 startups led by Delhi students presented biz ideas to investors in 2023

Schools in Delhi went past several milestones in 2023, with 32 students bagging seats at the prestigious National Defence Academy (NDA) and the "Business Blasters Investment Expo", where more than 100 startups led by students presented business ideas to investors. However, the deteriorating air quality of the national capital after the Diwali festivities also posed challenges to the students when an impromptu vacation was called and educational institutes were shut for 10 days. The schools run by the Delhi government also played a crucial role in 2023, as more than 150 students from violence-hit Manipur enrolled in these institutes and efforts were made to help them lead a normal life. On September 27, the Delhi government's Shaheed Bhagat Singh Armed Forces Preparatory School (AFPS) achieved a feat as 32 students, including nine girls, cleared the NDA exam -- among the highest in the country so far. A total of 237 students are enrolled in the school and 76 students of Class 12 ...