Startup India

8i Ventures comes with 2nd edition of pre-seed funding Origami programme

'There is significant funding available today for business models which can demonstrate unit economics within a reasonable timeframe'

Amazon partners with Startup India, DPIIT to enhance startups growth

Amazon India has partnered with Startup India, under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), to help startups scale growth through e-commerce. Through a dedicated page on the Startup India portal, the e-commerce firm and Startup India will work together to allow eligible startups to make use of e-commerce opportunities by registering on Amazon India's marketplace. The startups will gain access to the domestic market, mentorship from Amazon leaders, go-to-market support and logistics guidance, according to a company statement. "By combining Amazon's e-commerce expertise with Startup India's role as the Government of India's flagship initiative for the development of the startup ecosystem, we will provide a robust platform for Indian startups and businesses to scale domestically," Sanjiv, Joint Secretary, DPIIT, said. Furthermore, Amazon will work to empower select women entrepreneurs through its Saheli programme. Amazon's suite of services,

Startup India should move out of Invest India's ambit, says Piyush Goyal

The minister said that the company can be industry-led, similar to Invest India-a key body that pushes investments

First reusable hybrid rocket RHUMI launched by Tamil Nadu space startup

Tamil Nadu-based startup Space Zone India on Saturday launched its first reusable hybrid rocket, Mission RHUMI-2024, onboard a mobile platform to take up research on global warming and climate change. City-headquartered Space Zone India has been conducting various projects under Mission RHUMI over the last two years. The RHUMI rocket launched early in the day at Thiruvidanthai on the scenic East Coast Road near Chennai is powered by a generic-fuel-based hybrid motor and electrically triggered parachute deployer. "It is 3.5 metre tall rocket and was launched at about 7.25 am from the earlier 7am lift off schedule," Space Zone India Founder-CEO Anand Megalingam said. "It is more of a sounding rocket. It flew to an altitude of about 35 kms and right now my team is there to collect it as per our plan (since it is a reusable rocket)," he told PTI. "Compared to an 89 degree inclination, we had launched the rocket with 70 degree inclination due to heavy wind and gusts," he explained on t

Peak XV-backed Kenko Health shuts down after running out of funds

Despite securing more than $13.7 million in funding from investors like Peak XV Partners, Orios Venture Partners, and Beenext, the health startups faced challenges securing key licences

Google set to lead $250 mn round by Indian mobile startup Glance InMobi

Outlay would increase Google's bets in the world's most populous country, where it vies with local contenders as well as global peers Microsoft, Meta Platforms and Amazon.com for new growth areas

Lonely dead pool club: Shutdowns fall 99.8%, startups face a zombie threat

While founders have now become more prudent, there are firms that continue to burn cash to survive and may soon end up in the dead pool once their runway ends

ICAI aims to facilitate $200 mn funding through startup event in June

Chartered accountants' apex body ICAI on Thursday said it aims to facilitate funds worth over USD 200 million to startups through an event scheduled to be held in Bengaluru from June 27 to 29. It will organise the second edition of the Startup Sphere, and more than 10,000 people from the startup ecosystem are expected to participate in the event, according to a release. The Institute of Chartered Accountants of India (ICAI) said the first edition of the event last year saw an estimated USD 100 million commitment of funding from 60 pitches presented to 75 investors. "The Startup Sphere 2024 is scheduled from 27th to 29th June 2024. We are expecting to arrange more than USD 200 million in funding this year. More than 10,000 people are expected to participate in this three-day event that aims to connect entrepreneurs and investors, wherein startups can share their ideas and get investments," ICAI President Ranjeet Kumar Agarwal said. The event will be supported by the Department for .

Indian fintech startup funding surges 59% in Q1 CY2024: Tracxn report

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

6 innovative startups from Shark Tank India awarded grants: DBS Foundation

These startups were recognised for their commitment to a dual bottom line, aiming for profit while making a positive social or environmental impact

BS Manthan: Plenty funds for right startups, Rajesh Magow on funding winter

Business Standard Manthan 2024: Rajesh Magow, the CEO of MakeMyTrip, on Thursday said he disagreed with the perception that there was a fund crunch in the startup ecosystem

Deeptech startup policy in final stages, says DPIIT secretary RK Singh

The development is in line with ongoing governmental efforts to bolster innovation in the deeptech sector

India AI mission to provide funding, support to deeptech startups: Experts

The move will provide much-needed financial assistance to deeptech startups in the country, an area which founders say has been a major roadblock for innovation in the sector

Bharat Jodo Nyay Yatra: No startups in the country, claims Rahul Gandhi

Gandhi claimed the Centre had waived off loans to the tune of Rs 16 lakh crore of big corporates but was unwilling to provide the same relief to farmers, students and labourers

Govt to meet Google, startup executives over app issue on Monday

8 of 10 delisted apps back on Play Store

India startup boom: Goyal exhorts entrepreneurs not to 'miss the bus'

Terming startups as the backbone of new India, Union minister Piyush Goyal on Tuesday exhorted entrepreneurs not to "miss the bus" and make most of the opportunities as India transitions to become a 35 trillion dollar economy by 2047. India, he said, has emerged as a global leader, and its story is one of confidence, good governance and continued innovation. "I believe startups will be backbone of new India. This is our time under the sun, and the sun is rising," the minister for commerce and industry said at a curtain raiser event for upcoming 'Startup Mahakumbh'. "I hope we don't miss the bus. I hope the message goes loud and clear to all startups not to lose this opportunity," he said, adding that the upcoming mega event will showcase the startup revolution sweeping the country. Goyal exuded confidence that young Indians will shape the country's destiny in 'Amrit kaal'. "...It is this young India that is going to shape our destiny...as we transition from 3.5 trillion dollar eco

Indian startup ecosystem welcomes MCA's performance review of CCI

The Finance and Corporate Affairs Minister, Nirmala Sitharaman, is likely to convene a meeting in this regard this month

Health tech startup Neodocs raises Rs 16.6 cr in seed funding round

Company that makes smartphone-based medical test kits will use the financing to expand business

Over 50% DPIIT-recognised startups from tier-II and tier-III cities

The states of Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the "best performers" in developing a startup ecosystem for Indian entrepreneurs

Income tax benefits granted to 2,975 recognised startups: DPIIT

As many as 2,975 government recognised startups have been granted income tax exemptions so far, a senior official said on Monday. Under the Startup India , the government provides income tax exemption. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that as on December 31 last year, 1,17,254 startups have been recognised by the department. "The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups," he told reporters here. He added that they are in the process of formulating a standard operating procedure for examining and fast-tracking applications for granting eligibility certificates. This certificate is required to claim tax exemptions. The Startup India Action Plan was announced in 2016.