Page 10 - Startups In India

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

Atomberg raises $86 mn in series C funding from Temasek, Steadview Capital

Consumer appliances start-ups will use the financing to strengthen manufacturing, develop new products

Global family offices upbeat on Indian startup ecosystem: Lakshmi Narayanan

Lakshmi Narayanan says ambitious valuation, transparency issues still a major challenge for investors in Indian startup sector

India plans start-up exchange programme with Nepal, Bangladesh, Bhutan

India plans to bring in more cross-border start-up exchange programmes with neighbours

Proposed angel tax norms: Start-ups may get a funding boost, say top VCs

They said the proposed norms aim to expand valuation methodologies and eliminate price differentials between resident and non-resident investors

Start-up registrations near 100K-mark, no. of new ventures up since Covid

Top 5 sectors, including IT services, and health care, account for third of registered start-ups

Suneil Shetty backed zero fee food delivery app Waayu launches in Mumbai

Waayu's launch comes at an interesting time when the government-backed Open Network for Digital Commerce platform is gaining more traction, following Swiggy's decision to charge Rs 2 platform fee

EV ride-hailing firm BluSmart gets $42 mn in fresh funding to expand fleet

Start-up says will use fresh capital to 'go deeper' in Delhi NCR and Bengaluru

Government to come up with angel tax rules for start-ups before April 30

Rajeev Chandrasekhar had admitted that the angel tax was an 'aberration' and reforms were under consideration

Tiger Global-backed Koo lays off 30% of its workforce in a year

The micro-blogging website, however, says it is well capitalised at the moment after raising fresh funding recently

More investments for Byju's? Abu Dhabi's 10X AD, Apollo conduct talks

This comes as the edtech company is looking to raise at least $400 million to $600 million from investors

'Startups in India bringing down unemployment rate in the country'

Any NGO registered as a private limited company with a novel idea that meets the set criteria can be taken up as a startup

GCPL to invest Rs 100 cr in early-stage consumer startups in India

Godrej Consumer Products Limited (GCPL) on Saturday said they will invest Rs 100 crore in Early Spring, a new Rs 300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).