Page 18 - Start-ups

Cabinet okays Rs 5k cr PRIP scheme to boost research and innovation

The scheme is set to stimulate collaboration between pharmaceutical companies, Cabinet greenlights Rs 5,000 crore PRIP scheme to boost research and innovation institutions, and start-ups

Byju's business head Prathyusha Agarwal resigns amid reorganisation

Agarwal had joined Byju's in February 2022 from Zee Entertainment Enterprises. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company

HDFC Bank signs MoU with StartupTN to foster entrepreneurship in Tamil Nadu

Private sector HDFC Bank has signed a memorandum of understanding with StartupTN to promote innovation and entrepreneurship in Tamil Nadu, the bank said on Thursday. Through the partnership, the bank aims to contribute significantly towards the growth and success of startups present in the state. StartupTN, is backed by the Tamil Nadu government and aims to nurture a vibrant startup ecosystem in Tamil Nadu resulting in innovation and entrepreneurship driven employment and economic growth. The agreement was signed between HDFC Bank Senior Vice-President and Circle Head, Coimbatore, Ilamurugu Karunakaran and StartupTN Mission Director and CEO Shivarajah Ramanathan during the Tamil Nadu Startup Thiruvizha 2023 held in Coimbatore recently. "In Tamil Nadu alone we have more than 6,000 Department for Promotion of Industry and Internal Trade recognised startups. StartupTN has done transformational work to support startups across stages in the state and we hope to leverage their network an

Noida-based startup has built navigation system of Isro's Pragyan rover

With the Pragyaan rover poised to navigate the moon, its eyes to traverse the crater-filled lunar surface will be powered by a software developed by a Noida-based tech start-up. Omnipresent Robot Technologies, which has been working closely with ISRO for the Chandrayaan series of lunar missions, has developed Perception Navigation Software for the Pragyaan rover that is housed in the Vikram landing module that touched down on the moon Wednesday evening. "We are very excited and look forward to seeing the Pragyaan rover navigating the lunar surface using our software," Aakash Sinha, Chief Executive Officer of Omnipresent Robot Technologies, told PTI here. Sinha, who is also a professor at Shiv Nadar University, said the software developed by his start-up will capture images of the moon using the two cameras of the lunar rover and stitch them together to generate a 3-D map of the lunar landscape. This software has been in-built in the rover and the image processing will be done onbo

Funding spring for startups may return in next 12 months, say analysts

The India tech startup ecosystem witnessed its highest funding of $43.5 bn in 2021 and after this, the funding started to witness a downfall and there is no sign of improvement in the funding to date,

No FIR against entrepreneurs, traders in UP without investigation

Uttar Pradesh Chief Minister Yogi Adityanath has ordered that a preliminary investigation be conducted before filing a First Information Report against traders and entrepreneurs

OpenAI acquires start-up Global Illumination to work on ChatGPT, products

Global Illumination most recently worked on open-source technology related to online game production

Physics Wallah to cross Rs 2,400 cr in revenue in FY24, says co-founder

Where Byju's acquisitions were indiscriminate, PW's are measured, says co-founder

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

Nandan Nilekani pitches ONDC to start-ups to democratise e-commerce

VC firm Antler has collaborated with Nilekani, FIDE and ONDC and launched the country's first ONDC-focused venture platform to help entrepreneurs create businesses and succeed on the open protocol

Indian fintech sector: A resilient green shoot of the start-up ecosystem

India maintained its position as the third-highest funded fintech industry globally, following the US and UK, similar to last year

Byju's lenders accused of using bogus loan-default claims to gain control

The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives

Amid chaos at Byju's, what is the other side of startup ethics debate?

The goings on at Byju's and some other startups raise questions of not only governance but also the board's role

70% of startups say tech adoption propels hypergrowth: SAP-Zinnov Study

About 37% of the startups plan to increase their spending on enterprise applications by more than 15% in 2023

ArcelorMittal looks to rope in Indian climate tech start-ups to go green

Launches first country-specific accelerator programme to achieve decarbonisation goal

Govt-appointed panel likely to talk need for 'stricter' start-up rules

A government-appointed panel is likely to discuss whether there is a need for a stricter regulatory regime for startups against the backdrop of instances of corporate governance concerns at some of the entities, according to an official. Startups are generally small and there needs to be a balancing when it comes to regulations for them, the official said and added that ease of doing business as well as a compliance-oriented regulatory regime should be ensured. The Company Law Committee (CLC), which was set up by the corporate affairs ministry back in September 2019, is likely to look into various aspects of the regulatory regime for startups, the official told PTI recently. The standing panel, which is headed by the corporate affairs secretary, has government officials, representatives from the industry and experts, among others as members. It broadly looks at the effective implementation of the Companies Act, 2013 and the Limited Liability Partnership (LLP) Act, 2008 as well as ..

India's Coromandel counts on drone startup to tackle farm labour shortage

In June Coromandel bought a majority stake in Dhaksha at a valuation of 6.25 billion rupees ($75.96 million), saying the startup will "identify promising avenues of growth" for the company

IoT start-up Proxgy launches real-time payment audio notifications device

The company plans to deploy its devices in the B2B (business to business) or B2B2C (business to business to consumer) space

Edtech major Byju's, lenders agree to amend terms for $1.2 billion loan

Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023