Page 2 - Startup India

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.

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

PE/VC investments dip to 43-month low of $1.6bn in November: Report

Investments by private equity and venture capital funds plummeted to a 43-month low of USD 1.6 billion in November, a report said on Tuesday. The investments were 69 per cent lower than the year-ago period and 60 per cent less than October, the report by industry's lobby grouping Indian Venture and Alternate Capital Association (IVCA) and the consultancy firm EY said. By volume terms, there were 58 deals in November 2023 as against 106 in the year-ago period and 73 in October 2023, the report said. Based on the available data, the consultancy firm's partner Vivek Soni said he anticipates PE/VC investments for 2023 to come at 10-12 per cent below the USD 56 billion in 2022. "This fall has been primarily fuelled by a sharp contraction in startup investments and a drop in number of large deals on account of the widening bid ask spread between investor valuations and seller expectations," he added. In November, there were six large deals of value greater than USD 100 million, aggregat

Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal

Inflation in 2023-24 and 2024-25 won't be as impactful as it was last year

Google supports women-led AI startups in tech innovation, sustainability

Google for Startups Accelerator programme is designed to enable women entrepreneurs who are using technology to solve complex problems and are making a positive impact on society

Indian startups' funding winter persists, 72% decline in 2023: Report

The report highlighted that the funding declined across all stages, with late-stage funding dropping over 73%. Strong IPO momentum, and investors' interest in space tech were a silver lining

24 agri startups recommended for support from pool of Rs 20 cr: Govt

In a boost to the agri-tech sector, experts have recommended 24 start-ups for both technical and financial support from a dedicated fund of Rs 20 crore, an official release said on Saturday

Banks considering rating framework to assess risk profile of startups

The plan to set up this mechanism has come up at a time when the government has asked banks to play a more active role in financing startups

Centre working on action plan to increase investments in startup sector

Officials said that ministries will have to expand their capacity to support the growing number of startups in the country

TN launches revamped Startup and Innovation Policy 2023 with action points

Tamil Nadu has launched a revamped Startup and Innovation Policy 2023 with several action points aimed at making the state achieve leadership in the startup ecosystem, the government said on Wednesday. The policy, equipped with 50 action points, was rolled out by Chief Minister M K Stalin at the Secretariat to support the state government's vision at becoming a USD 1 trillion economy by 2030. The decision to upgrade the startup and innovation policy came following the surge in the number of registered startups. As of September 2023, registered startups in the state exceeded 7,000 and have attracted significant venture capital investments. The policy, which will be valid for the period 2023-2028, will be the fuel to accelerate and scale startups and increase their share in the State's GDP. The main focus of this policy framework is to establish a democratised ecosystem that fosters innovation and entrepreneurship, transforming the state into a land of opportunities, the government ..

Govt policies helped India become 3rd largest startup ecosystem: PM Modi

Prime Minister Narendra Modi on Tuesday said the policies of the government are providing support to the youth of the country and their strength has helped India become the third largest startup ecosystem in the world. Addressing the nation on the 77th Independence Day, he said the country's exports are growing and experts world over believe India's economy would continue its growth trajectory. "I believe in youth power, youth power is my strength... Our policies are giving more power to youth strength... The youth of the world are getting amazed by seeing the strength of Indian youth," he said from the ramparts of the Red Fort. Their strength has helped India become "the third largest startup ecosystem in the world," Modi added. The government has recognised as many as 98,119 entities as startups as on April 30 this year. These startups are eligible for availing incentives, including tax benefits under the Startup India scheme. Schemes like Fund of Funds for Startups, Startup Ind

Centre releases draft National Deep Tech Startup Policy on Monday

The government on Monday released the draft National Deep Tech Startup Policy (NDTSP) that spells out a nine-point programme to create a conducive ecosystem for the sector, which is crucial for enhancing India's capability and global competitiveness. A deep tech startup involves early-stage technologies based on scientific or engineering advancements, which are yet to be developed for any commercial applications. The draft NDTSP, released by the office of the principal scientific advisor to the government, has sought comments from the public by September 15. The draft NDTSP suggests necessary changes in nine policy areas such as nurturing research, development and innovation; strengthening the intellectual property regime; facilitating access to funding; enabling shared infrastructure and resource sharing; creating conducive regulations, standards, and certifications; attracting human resources and initiating capacity building; promoting procurement and adoption; ensuring policy and

VC investment in Indian startups declines by 76.4% YoY in H1 2023: Report

India is among the top five global markets in terms of both VC funding deal volume and value and has experienced a relatively higher impact compared to the US, China, and the UK

Startup India celebration of innovation, entrepreneurship: boAt co-founder

India presents a compelling case for those looking to manufacture, boAt's co-founder Aman Gupta said, highlighting that initiatives like Startup India and celebration of innovation has changed the mood of the nation towards entrepreneurship. The outspoken entrepreneur said at the recent Indo-French CEO Forum that he had spoken about boAt's own story being a testimony of how real the India startup opportunity is. The entrepreneur and investor whose stint with Shark Tank India made him a household name, was among the invitees at an official delegation during Prime Minister Narendra Modi's recent visit to Paris. In an exclusive interview to PTI, Gupta recounted how startups were not recognised by the public as much earlier. According to him, the government's focus on entrepreneurship, and enabling initiatives like Startup India, Stand-Up India have changed the mood of the nation. "I spoke about our own story (at the Indo-French CEO Forum) and how we were importing 100 per cent when we

Green energy to agri, winners of Startup India to get 'handholding support'

As a part of the handholding exercise, multiple virtual and physical sessions, delegations, showcases, and programs of specialised support will be organised

India 3rd largest ecosystem for startups globally: CDS General Anil Chauhan

"By 2024, we hope to overtake Germany to become the fourth-largest economy in the world," said the CDS

Indian fintech start-up funding falls 55% YoY in Q1 2023, says report

India was still the second-highest funded "geography" in the world, behind the US, in Q1 2023