Page 8 - Startups In India
Startups backbone of new India, it's our time under the sun: Piyush Goyal
Goyal said that the event will be a platform to showcase India's success stories built over the last decade. It would also showcase to the world that "India has today emerged as a global leader"
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
Bihar govt, SIDBI join hands to collaborate on enhancing startup ecosystem
The Bihar government and the Small Industries Development Bank of India (SIDBI) have signed an MoU in a bid to boost the startup ecosystem in the eastern state, officials said. The initiative is aimed at creating a conducive environment for startups and transforming Bihar into a startup hub, a SIDBI release said. "The Bihar Startup Fund Trust (BSFT) and SIDBI entered into an MoU to administer the Rs 50-crore Bihar Startup Scale-up Financing Fund' (BSSFF), it said. The BSFT is the nodal agency constituted by the Industries Department for implementation of the Bihar Startup Policy. Under the policy, the state government has set up the BSFT with an initial corpus of Rs 500 crore. Out of this, BSSFF has been established with an initial corpus of Rs 50 crore for scale-up funding support to startups, the release said.
Startup & family business governance
Boards must rely on and act upon early warning signals of behavioural aberrations beyond the boundaries of business sanity and neeyat
About 45% of demand for global brands come from non-metros: Myntra's CPTO
AI and personalised shopping drive Myntra's expansion into new regions
MIF partners with Rajasthan University to help youth build startups
The tieup with the Entrepreneurship and Career Hub (ECH) will provide youth with technology and support to help them build startups
Why startups are flipping back to India in spite of the hefty tax bill
The thing is, if a company wants to move from another country to India as a domicile, it is treated as a capital gains event for existing investors
Several startups get RBI approval to operate as payment aggregators
According to industry insiders, several such applications are currently being processed by the RBI and more startups are expected to get approvals in the coming months
Meesho reduces logistics cost by 5% through software infra platform Valmo
E-commerce firm Meesho on Wednesday said it has reduced its logistics cost by 5 per cent by using its software logistics infrastructure platform Valmo. Valmo currently handles 20-22 per cent of orders of Meesho, which it plans to double in the next 12-18 months. The homegrown company announced that it has created a technology-enabled SaaS (Software as a service) platform Valmo to get micro-entrepreneurs in the logistics segment onboard to create a larger ecosystem and supply chain. The platform will incorporate local logistics suppliers to provide shipment services to the company, making the logistics seamless, and helping sellers on Meesho to save on operating costs. "Valmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses," Meesho said in a statement. Meesho CXO, Fulfilment & Experience, Sourabh Pandey said the company has been able to reduce overhead costs by 5 per cent by incorporating Valmo for
Enterprise fintech industry set to surge, aiming for $20 bn market by 2030
'Large and small banks have started investing heavily in tech and are focusing on scaling their digital business throwing up opportunities for enterprise fintech firms'
Budget announcements to boost India's innovation-led economy: DPIIT secy
Announcements in the interim Budget 2024-25 with regard to deep-tech and startups will significantly help boost India's innovation-led economy, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said on Friday. Singh said the 11 per cent increase in capital expenditure (capex) to Rs 11.11 lakh crore for the next financial year, and the provision to provide Rs 75,000 crore as interest-free loan for 50 years to support reforms by states, will help further improve the country's logistics efficiency, connectivity and cut down the logistics cost. Provisions related to research and development "hopefully trigger some greater private sector investments in R&D. Announcement of a new scheme for strengthening deep-tech technologies is good for startups also... It will give a boost to India's increasingly becoming an innovation led economy," Singh told PTI. Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on ...
Interim Budget: Govt earmarks Rs 1 trn corpus for R&D in sunrise sectors
"For our tech-savvy youth, this will be a golden era," Sitharaman said
Sarvam aims to shape India's GenAI landscape: Co-founder Raghavan
Focus on efficient models and unique needs of the country mark Sarvam's journey
Prepping for IPOs, startups shore up ops and focus on profitability
Companies cutting costs to improve financial health, strengthening corporate governance systems
Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn
The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric
Ola founder Bhavish's Krutrim becomes first $1 billion Indian AI startup
It becomes the first Indian AI startup to gain a billion-dollar valuation, a mere month after debuting a large language model, the firm said in a blog post
Swiggy planning fresh layoffs; may cut 7% from 6,000-strong workforce
Swiggy plans to reduce its employment by 7 per cent, affecting 400 employees across teams like technology, call centers, and corporate roles
Quick commerce app Zepto elevates Nikhil Mittal to chief technology officer
In his new role, Mittal will be handling all verticals of engineering - customer facing, platforms and supply chain - at the company
Robots for reducing manual efforts to nanotech cancer therapy: IISc
FSID at the Indian Institute of Science is witnessing a significant increase in terms of the number of applications of deep tech firms over the last few years
$5 bn for EV, 20 unicorns women-led: Path of Indian startup boom since 2014
Despite the challenges due to persistent funding winter, Indian startups received $8.4 billion in funds from domestic and global investors in 2023
