Page 10 - Startups In India

As startups lay off staff to cut costs, employees head out for job hunt

Employees not just from edtech but also from commerce and digital media startups are looking out for new jobs amidst massive layoffs

Govt recognises 98,119 entities as startups as on Apr 30: MoS Comm in LS

The government has recognised as many as 98,119 entities as startups as on April 30 this year, Parliament was informed on Wednesday. These startups are eligible for availing incentives, including tax benefits under the Startup India scheme. Schemes like Fund of Funds for Startups, Startup India Seed Fund Scheme and Credit Guarantee Scheme support these entities at various stages of their business cycle, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. "Since the launch of the Startup India initiative in 2016, DPIIT (Department for Promotion of Industry and Internal Trade) has recognised 98,119 entities as startups as on 30th April 2023," he said. In a separate reply, he said that as on April 30, Rs 611.36 crore has been approved for 160 incubators by the Experts Advisory Committee (EAC) under e Startup India Seed Fund Scheme. "The approved incubators have selected 1,039 startups for financial support of Rs 176.63 crore," he ...

ESOP buybacks among Indian start-ups may resurge as macro headwinds ebb

ESOP buybacks, the primary method of liquidation for employee-owned stocks, usually follow the prevailing funding trend

Meta signs MoU with govt's INDIAai for research and collaboration on AI

The MoU was signed by Abhishek Singh, CEO of India AI, and Shivnath Thukral, director and head of public policy, Meta in India

How Ankit Agrawal is building InsuranceDekho as fastest growing insurtech

InsuranceDekho was started in 2017 with a vision of democratising the Indian insurance sector by simplifying the insurance buying, selling, and claim process

Shark Tank Season 1: Which shark honoured most number of deals? Check here

In total, out of a total of 65 deal commitments, only 40% (28) deals were honoured by seven sharks

Data protection bill: Govt mulls exempting startups from data sharing rules

Only government-notified data fiduciaries and data processing entities will be exempted when it comes to data collection and data sharing

Startups in India to grow tenfold in next 4-5 years: Rajeev Chandrasekhar

Hailing India's remarkable progress in building unicorns and startups, Union Minister Rajeev Chandrasekhar prophesised that the next 4-5 years will witness substantial growth for such enterprises and the startups in the country will increase by 10 times. Speaking at the JITO Incubation Innovation Foundation (JIIF) Sixth Foundation Day and Investors/Startup Conclave in Hyderabad, the Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT, highlighted India's remarkable progress in creating unicorns and startups, how they have successfully entered areas in emerging technologies such as AI, Web3, and deep tech, an official release said on Sunday. The Minister, who engaged with industry leaders and aspiring young entrepreneurs, emphasised the transformative journey India has embarked upon since 2014. From being predominantly focussed on IT and ITes, the next 4-5 years will witness substantial growth for startups and unicorns, Chandrasekhar said during

Fibe eyes upskilling space for lending even as ed-tech faces crunch

The company, which averages around Rs 40 crore in monthly topline sales in the category, partners with upskilling platforms to lend credit to consumers

Why are governance lapses increasing in Indian startup ecosystem?

Conversations around proper governance among startups are increasing

Prime Video announces series to highlight India's most promising start-ups

The 'Mission Start Ab' series will feature ten early-stage grassroots entrepreneurs who focus on made-for-India innovations

Tamil Nadu's Atsuya secures spot in Google's Startup Accelerator Program

Under the program, tech companies using artificial intelligence/ machine learning (AI/ML) get access to Google's resources, programs, people, products and technology

Centre will be facilitator for startups, not regulator: Piyush Goyal

The government will always act as a facilitator to strengthen the startup ecosystem and not act as a regulator, Commerce and Industry Minister Piyush Goyal said on Tuesday. He said that stakeholders of this ecosystem will do self-regulation. Addressing the Startup20 summit here, the minister said, the message that should go out from here is the joint commitment of all the 22 nations, who have participated, that the governments will not be looking at impeding the progress of the work that startups are doing. The best way is to be out of the startups ecosystem, he said, adding the government is not expected to start regulating or dictating or micro-managing the ecosystem. "Our role will always be that of a facilitator and I do not see the government becoming an administrator or a regulator of this sector," he said. He added that the job of the government is to give an initial push or early stage finance to budding entrepreneurs. The minister also said that India provides an unique

VC firm Good Capital launches $50 mn fund to back start-ups leveraging AI

It will in over four years invest in firms that have an average ticket size of $1.5 million

Lot of global investor interest in India right now: Arkam Ventures MD

We expect more foreign limited partners to put money into India, says Bala Srinivasa, MD, Arkam Ventures

Why can fintech sector ecosystem in India survive funding winter

The fintech space has witnessed a 60 per cent year-to-date slump in funding

Number of startups increased 300 times in 9yrs under PM: Jitendra Singh

The number of startups grew 300 times in the last nine years under Prime Minister Narendra Modi-led government in the country, Union Minister Jitendra Singh said on Saturday. The Minister of State in the Prime Minister's Office (PMO) was speaking at a two-day 'Young Start-up Conclave' which commenced in Udhampur, the home constituency of Singh. "The startups in India grew 300 times in the last 9 years as from just around 350 startups before 2014, there has been a quantum jump in startups to more than 90,000 with more than 100 unicorns," Singh said. He said the startup movement promoted by Modi is now reaching every part of the country. Asserting that the conclave at Udhampur offers an opportunity to explore new avenues for industry as well as entrepreneurs in the region, he said, under Modi, Jammu and Kashmir is given the top most priority in everything which is the reason J&K is competing in terms of development with other states and Union Territories in the country. "The year ..

Less than 1 in 3 startups manage to raise follow-on funding: Study

Less than one in three startups that attract seed funding manage to raise follow-on funding in the form of a 'Series A' round, a study by Venture Intelligence shows

WinZO concludes third round of ESOP liquidation for 25% of workforce

Online gaming start-up's announcement comes at a time few start-ups are making such payouts

Microsoft, Accenture to empower 13 Indian startups on social impact

Launched in 2020, previous cohorts of the programme focused on addressing issues in food safety, livelihood, education, sustainability, and skilling