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Indian Startups
Nine Indian startups, including Dhruva in the space business and Varaha in the climate arena, have made it to the World Economic Forum's latest list of new technology pioneers. Releasing the list, the WEF said these 100 early-stage startups from 23 countries are building the infrastructure for the next era of AI and are developing breakthrough technologies with the potential to transform industries and societies. "What sets this year's cohort apart is its focus on enabling the next era of Artificial Intelligence (AI). While recent advances have centred on models and consumer applications, many of the Tech Pioneers are building the software and physical infrastructure needed to AI at scale," the WEF said. The cohort also reflected the expanding geographies of frontier innovation. India has contributed nine companies, many focused on deep-tech and space innovation, while the Republic of Korea records its strongest representation to date across AI, robotics and quantum ...
Indian-born entrepreneurs account for the largest group of immigrant founders of billion-dollar companies, or unicorns, in the US, according to a new study by the National Foundation for American Policy (NFAP). The US-based non-profit organisation found that 96 American unicorns were founded or co-founded by entrepreneurs of Indian origin. Among them is Perplexity AI, co-founded by Aravind Srinivas, which ranks 12th with a valuation of USD 20 billion. According to the study, India tops the list of countries of origin for immigrant founders of US unicorns with 96 companies, followed by Israel (60 unicorns), the United Kingdom (47), China (41), Canada (30), Russia (23), France (21), Germany (18), Ukraine (16), Australia (14), Pakistan (10), and Romania (10). The NFAP study, titled "Immigrants and US Billion-dollar Companies" and authored by Stuart Anderson, found that immigrants have founded or co-founded 59 per cent (455 of 775) of America's privately held startup unicorns. The ...
The Himachal Pradesh state government will be providing funding of up to Rs 5 lakh per proposal to young entrepreneurs under the HIMUDA Start-up and Student Innovation Policy, to boost economic growth and to generate employment opportunities. This was stated by Town & Country Planning Minister Rajesh Dharmani while he chaired a review meeting of the Himachal Pradesh Housing and Urban Development Authority (HIMUDA) on Saturday. During the meeting, the minister said that the policy aims to build a strong ecosystem for innovation and start-ups in the state. "Keeping in view the geographical conditions of the state, the government was also exploring the possibility of funding start-ups related to disaster management under this policy", said Dharmani. He said that the projects of HIMUDA were aimed not only at meeting the housing needs of the people but also at creating new sources of revenue for the state. "Given the rapid pace of urbanisation, urban development has become a vital ...
The Rs 10,000 crore Fund of Funds 2.0 for startups will have an expanded scope, with the corpus divided into four segments, including dedicated support for deep-tech and manufacturing startups, according to a DPIIT notification. The second tranche of Fund of Funds was approved by the Cabinet in February. It is aimed at mobilising venture capital (VC) and support deep tech, tech-driven innovative manufacturing startups, and early-growth stage enterprises. The FoF 2.0 has been designed to continue the momentum of investments in startups, with an expanded scope over Fund of Funds Scheme (FFS 1.0). "Startup India Fund of Funds 2.0 will have an expanded scope with segmented approach to target key segments for real innovation," the notification by Department for Promotion of Industry and Internal Trade (DPIIT) said. The scheme will contribute to the corpus of SEBI-registered Alternative Investment Funds (AIFs) for investing in equity and equity-linked instruments of entities recognised a