Page 2 - Startup India

BS Manthan: Plenty funds for right startups, Rajesh Magow on funding winter

Business Standard Manthan 2024: Rajesh Magow, the CEO of MakeMyTrip, on Thursday said he disagreed with the perception that there was a fund crunch in the startup ecosystem

Deeptech startup policy in final stages, says DPIIT secretary RK Singh

The development is in line with ongoing governmental efforts to bolster innovation in the deeptech sector

India AI mission to provide funding, support to deeptech startups: Experts

The move will provide much-needed financial assistance to deeptech startups in the country, an area which founders say has been a major roadblock for innovation in the sector

Bharat Jodo Nyay Yatra: No startups in the country, claims Rahul Gandhi

Gandhi claimed the Centre had waived off loans to the tune of Rs 16 lakh crore of big corporates but was unwilling to provide the same relief to farmers, students and labourers

Govt to meet Google, startup executives over app issue on Monday

8 of 10 delisted apps back on Play Store

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

Indian startup ecosystem welcomes MCA's performance review of CCI

The Finance and Corporate Affairs Minister, Nirmala Sitharaman, is likely to convene a meeting in this regard this month

Health tech startup Neodocs raises Rs 16.6 cr in seed funding round

Company that makes smartphone-based medical test kits will use the financing to expand business

Over 50% DPIIT-recognised startups from tier-II and tier-III cities

The states of Gujarat, Karnataka, Kerala, and Tamil Nadu emerged as the "best performers" in developing a startup ecosystem for Indian entrepreneurs

Income tax benefits granted to 2,975 recognised startups: DPIIT

As many as 2,975 government recognised startups have been granted income tax exemptions so far, a senior official said on Monday. Under the Startup India , the government provides income tax exemption. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that as on December 31 last year, 1,17,254 startups have been recognised by the department. "The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups," he told reporters here. He added that they are in the process of formulating a standard operating procedure for examining and fast-tracking applications for granting eligibility certificates. This certificate is required to claim tax exemptions. The Startup India Action Plan was announced in 2016.

SoftBank to resume investing in Indian startups after 18-month hiatus

SoftBank is now actively pursuing investments in new-age enterprises and expanding its portfolio in India

PE/VC investments dip to 43-month low of $1.6bn in November: Report

Investments by private equity and venture capital funds plummeted to a 43-month low of USD 1.6 billion in November, a report said on Tuesday. The investments were 69 per cent lower than the year-ago period and 60 per cent less than October, the report by industry's lobby grouping Indian Venture and Alternate Capital Association (IVCA) and the consultancy firm EY said. By volume terms, there were 58 deals in November 2023 as against 106 in the year-ago period and 73 in October 2023, the report said. Based on the available data, the consultancy firm's partner Vivek Soni said he anticipates PE/VC investments for 2023 to come at 10-12 per cent below the USD 56 billion in 2022. "This fall has been primarily fuelled by a sharp contraction in startup investments and a drop in number of large deals on account of the widening bid ask spread between investor valuations and seller expectations," he added. In November, there were six large deals of value greater than USD 100 million, aggregat

Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal

Inflation in 2023-24 and 2024-25 won't be as impactful as it was last year

Google supports women-led AI startups in tech innovation, sustainability

Google for Startups Accelerator programme is designed to enable women entrepreneurs who are using technology to solve complex problems and are making a positive impact on society

Indian startups' funding winter persists, 72% decline in 2023: Report

The report highlighted that the funding declined across all stages, with late-stage funding dropping over 73%. Strong IPO momentum, and investors' interest in space tech were a silver lining

24 agri startups recommended for support from pool of Rs 20 cr: Govt

In a boost to the agri-tech sector, experts have recommended 24 start-ups for both technical and financial support from a dedicated fund of Rs 20 crore, an official release said on Saturday

Banks considering rating framework to assess risk profile of startups

The plan to set up this mechanism has come up at a time when the government has asked banks to play a more active role in financing startups

Centre working on action plan to increase investments in startup sector

Officials said that ministries will have to expand their capacity to support the growing number of startups in the country

TN launches revamped Startup and Innovation Policy 2023 with action points

Tamil Nadu has launched a revamped Startup and Innovation Policy 2023 with several action points aimed at making the state achieve leadership in the startup ecosystem, the government said on Wednesday. The policy, equipped with 50 action points, was rolled out by Chief Minister M K Stalin at the Secretariat to support the state government's vision at becoming a USD 1 trillion economy by 2030. The decision to upgrade the startup and innovation policy came following the surge in the number of registered startups. As of September 2023, registered startups in the state exceeded 7,000 and have attracted significant venture capital investments. The policy, which will be valid for the period 2023-2028, will be the fuel to accelerate and scale startups and increase their share in the State's GDP. The main focus of this policy framework is to establish a democratised ecosystem that fosters innovation and entrepreneurship, transforming the state into a land of opportunities, the government ..

Govt policies helped India become 3rd largest startup ecosystem: PM Modi

Prime Minister Narendra Modi on Tuesday said the policies of the government are providing support to the youth of the country and their strength has helped India become the third largest startup ecosystem in the world. Addressing the nation on the 77th Independence Day, he said the country's exports are growing and experts world over believe India's economy would continue its growth trajectory. "I believe in youth power, youth power is my strength... Our policies are giving more power to youth strength... The youth of the world are getting amazed by seeing the strength of Indian youth," he said from the ramparts of the Red Fort. Their strength has helped India become "the third largest startup ecosystem in the world," Modi added. The government has recognised as many as 98,119 entities as startups as on April 30 this year. These startups are eligible for availing incentives, including tax benefits under the Startup India scheme. Schemes like Fund of Funds for Startups, Startup Ind