Page 4 - Indian Start-ups

Business bites: How have winners of Shark Tank India 1 fared so far

A year later as season 2 begins, start-ups that 'sharks' invested in vouch for marketing gains from it but only a few have raised funds subsequently

India's startup ecosystem may be staring at an extended funding winter

Thousands lost jobs amid deepening funding winter in 2022 as massive layoffs by the tech companies this year alone surpassed the levels from the Great Recession

Technopark sees boost in IT export revenue; Kerala CM praises performance

Kerala's information technology hub Technopark has achieved a growth of Rs 1,274 crore in its IT export revenue compared to the last financial year, Chief Minister Pinarayi Vijayan has said. Technopark achieved an export revenue of Rs 9,775 crore in FY 2021-22, which is 15 per cent higher than the previous year. Last financial year (FY 20-21), Technopark's export revenue was Rs 8,501 crore, he said. In addition, the recognition by the Government of India for filing GST accurately and CRISIL (Credit Rating Information Service of India) rated A+/Stable till June 2023 were also remarkable achievements, the Chief Minister said. Vijayan, in a Facebook post on Thursday, said the IT hub is soaring to new heights and its achievements were the result of various schemes implemented by the LDF government to ensure the growth of IT parks in the southern state. "During the last one and half years, Technopark allotted office spaces to 78 companies covering an IT built up area of 2,68,301 sq. ft

We aim to help 300 Indian startups set up in Canada by 2025: TBDC chief

The country is opening its gates to 500,000 migrants in each of the next three years, hoping a sizable number will be potential entrepreneurs

58% of govt-recognised start-ups centred in 5 states; Maharashtra tops list

Nearly 58 per cent of the government-recognised start-ups are confined to just five states in the country

Success rate of startups in India higher than rest of world: Goyal

The success rate of startups in India is relatively higher than the rest of the world and there were 84,012 recognised startups in the country at the end of November, Union minister Piyush Goyal said on Wednesday. To boost the startup ecosystem, the government launched the Startup India initiative on January 16, 2016, and an action plan was also put in place. "Startups are prone to failures is a very high probability. Though I must say, the success rate of startups in India is relatively higher than the rest of the world...," the minister told the Lok Sabha during the Question Hour. The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022, the minister said. The Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle. The Startup India Seed Fund Scheme has been approved for four years starting from 2021-22 a

We Founder Circle announces 2 angel funds for early-stage start-ups

Mumbai-based We Founder Circle has in 23 months invested in more than 70 start-ups

Indian startups see huge 35% drop in funding, edtech among worst performers

As the funding winter deepens amid growing layoffs, India saw a massive 35 per cent drop in funding this year, from $37.2 billion in 2021 to $24.7 billion (till November in 2022)

Govt mulls exempting early-stage startups from data bill provisions

The government is mulling exempting early stage startups from complying with norms under proposed Digital Personal Data Protection bill, an official source said. The exemption may be for a limited period to assist startups in developing their business models and to ensure that innovation is not stifled due to compliance burden. "Meity (Ministry of Electronics and Information Technology) is mulling to improve upon the bill to exempt early stage startups from the provisions of DPDP (Digital Personal Data Protection) bill. "This may be for a limited time period in cases where they may be doing some kind of data modelling etc to develop their solution," the source, who did not wish to be named, said. The draft DPDP has proposed exemption only for government notified data fiduciaries and data processing entities when it comes to data collection, data sharing, giving information around data processing etc. Last week, Minister of State for Electronics and IT Rajeev Chandrasekhar had sai

India's Greenhouse-in-a-Box startup Kheyti wins 2022 Earthshot Prize

A Greenhouse-in-a-Box sustainable solution for small farmers devised by Telangana startup Kheyti has won the 1 million pounds Earthshot Prize, founded by Britain's Prince William and dubbed the Eco Oscars'. Kheyti, one of the five winners at a gala green carpet awards ceremony in Boston on Friday night, won the prize in the Protect and Restore Nature category from hundreds of entries worldwide. The pioneering solution for local smallholder farmers is designed to reduce costs, increase yields and protect livelihoods in a region on the frontlines of climate change. I believe that the Earthshot solutions you have seen this evening prove we can overcome our planet's greatest challenges, and by supporting and scaling them we can change our future, said William, the Prince of Wales. Alongside tonight's winners and finalists, and those to be discovered over the years to come, it's my hope the Earthshot legacy will continue to grow, helping our communities and our planet to thrive, he ...

Start-ups line up for space glory, but still very far from 'SpaceX moment'

Roughly 70% of these start-ups were launched after 2020; of $245 mn that the sector has received in last seven years, $198 mn came after 2020

HireQuotient bags investment from Flipkart co-founder Binny Bansal

This comes after the company raised $1.8 million in pre-series A funding last year from Sumant Sinha of ReNew Power, Mohan Lakhamraju of Great Learning, Sujeet Kumar of Udaan; and Kunal Shah of CRED

Unicorn Meesho joins ONDC to connect hyperlocal sellers and customers

E-commerce firm's pilot will be launched in Bangalore and later rolled out in other locations over a few months

Indian startups must brace for a long funding winter: Flipkart CEO

The startup ecosystem's funding winter could last another 12 to 18 months and the industry may face "a lot of turmoil and volatility", warned Flipkart CEO Kalyan Krishnamurthy

Foodtech startup On2Cook gets Rs 17 cr seed funding at Rs 100 cr valuation

Firm says its cooking appliances help domestic and commercial kitchens

Games24x7 launches Rs 400 cr fund for interactive entertainment start-ups

Will largely focus on entrepreneurs aspiring to build disruptive ventures in online gaming, digital marketing, digital content, sports tech, eSports, blockchain tech and analytics

Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report

Technology-related jobs have managed to marginally increase their contribution to the overall workforce by 4 per cent, while the hiring trend is slowing down in general

BHIVE Workspace completes 1 mn sq ft of shared office space in Bengaluru

Newest facility spread across 23,000 sq ft and with 700 seats comes up at Whitefield

Largest ever contingent of India Inc participates in GITEX Global 2022

India had the highest number of participating companies after the host, UAE, at the four-day event

Only 2 Indian startups turned unicorns in Q3 amid funding winter: Report

Only two startups in India, Shiprocket and OneCard, attained the unicorn status (valuation $1 billion and above) in the July-September period, a PwC India report showed on Thursday.