Page 3 - Startup India

Centre releases draft National Deep Tech Startup Policy on Monday

The government on Monday released the draft National Deep Tech Startup Policy (NDTSP) that spells out a nine-point programme to create a conducive ecosystem for the sector, which is crucial for enhancing India's capability and global competitiveness. A deep tech startup involves early-stage technologies based on scientific or engineering advancements, which are yet to be developed for any commercial applications. The draft NDTSP, released by the office of the principal scientific advisor to the government, has sought comments from the public by September 15. The draft NDTSP suggests necessary changes in nine policy areas such as nurturing research, development and innovation; strengthening the intellectual property regime; facilitating access to funding; enabling shared infrastructure and resource sharing; creating conducive regulations, standards, and certifications; attracting human resources and initiating capacity building; promoting procurement and adoption; ensuring policy and

VC investment in Indian startups declines by 76.4% YoY in H1 2023: Report

India is among the top five global markets in terms of both VC funding deal volume and value and has experienced a relatively higher impact compared to the US, China, and the UK

Startup India celebration of innovation, entrepreneurship: boAt co-founder

India presents a compelling case for those looking to manufacture, boAt's co-founder Aman Gupta said, highlighting that initiatives like Startup India and celebration of innovation has changed the mood of the nation towards entrepreneurship. The outspoken entrepreneur said at the recent Indo-French CEO Forum that he had spoken about boAt's own story being a testimony of how real the India startup opportunity is. The entrepreneur and investor whose stint with Shark Tank India made him a household name, was among the invitees at an official delegation during Prime Minister Narendra Modi's recent visit to Paris. In an exclusive interview to PTI, Gupta recounted how startups were not recognised by the public as much earlier. According to him, the government's focus on entrepreneurship, and enabling initiatives like Startup India, Stand-Up India have changed the mood of the nation. "I spoke about our own story (at the Indo-French CEO Forum) and how we were importing 100 per cent when we

Green energy to agri, winners of Startup India to get 'handholding support'

As a part of the handholding exercise, multiple virtual and physical sessions, delegations, showcases, and programs of specialised support will be organised

India 3rd largest ecosystem for startups globally: CDS General Anil Chauhan

"By 2024, we hope to overtake Germany to become the fourth-largest economy in the world," said the CDS

Indian fintech start-up funding falls 55% YoY in Q1 2023, says report

India was still the second-highest funded "geography" in the world, behind the US, in Q1 2023

Indian-origin start-up executives convicted of $1-bn fraud in US

Despite these under-deliveries, the company still invoiced its clients as if it had delivered in full.

The start-up India policy is brainchild of PM Modi: Union Min Sonowal

"This will surely promote innovation and entrepreneurship. Through this policy, MoPSW wants to enable start-ups to grow and prosper through innovations," he added

PM Modi is laser-focussed to help startups: MoS Rajeev Chandrasekhar

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Tuesday interacted with over 100 startups and venture capitalists (VCs), and assured them that the Narendra Modi government

Number of recognised startups rises to 86,713 in Dec 2022 from 445 in 2016

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022)," Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In a separate reply, he said in the UT of Ladakh, 1,006 industrial units have been established with total investment of Rs 122.71 crore after bifurcation of erstwhile Jammu & Kashmir state. On the other hand, Jammu & Kashmir has received investment proposals worth Rs 26,650.49 crore.

Bluelearn raises $3.5 mn in seed funding from Elevation Capital, Lightspeed

Titan Capital, 2am VC, a few angels also invested; Bluelearn, which began as telegram channel for students, has over 150,000 members from 5,500 colleges and startups across 20 countries

DPIIT to undertake third party assessment of Startup India Seed Fund Scheme

The Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of undertaking a third party assessment of Startup India Seed Fund Scheme to see its impact on the ground, a senior government official said on Friday. The Rs 945-crore scheme was launched in 2021. It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. The fund was divided into four years for providing seed funding to eligible startups through eligible incubators across India. Joint Secretary in DPIIT Shruti Singh said though the department has received "good" feedback from incubators and startups on the scheme, "we are still doing a third party assessment so that somebody on ground can go and see". Over 85,000 startups have been registered with DPIIT, she told reporters here. Startup India was launched by the government on January 16, 2016. Under Startup India, to provide capital at various stages of t

BharatPe CEO enjoying life with money I raised, fails to grow: Ashneer

Despite Delhi High Court's, Ashneer Grover took a serious dig at Suhail Sameer, saying the BharatPe CEO is unable to help the fintech firm grow

SoftBank Vision Fund loses $7.2 billion on back of tech writedowns

The Vision Fund segment lost 1.02 trillion yen in July-September, following a 2.33 trillion yen loss in the June quarter. Overall, the Japanese conglomerate logged net income of 3.03 trn in last qtr

Agritech startup Otipy appoints Rohit Sood as chief business officer

Agritech startup Otipy, a marketplace for fresh fruits and vegetables, has appointed Rohit Sood as the Chief Business Officer to drive the next phase of business expansion. Rohit is a senior retail and e-commerce leader having more than 16 years of experience in setting up and scaling business at well-known retail & e-commerce companies like SPAR, Carrefour, Snapdeal, Paytm Mall and JioMart. "In his previous stint he was the growth marketing head for JioMart at Reliance Retail where he was responsible for demand generation for the JioMart B2C platform," the company said in a statement. Otipy is currently serving more than 5 lakh customers in Delhi-NCR and Mumbai. More than 20,000 farmers across Haryana, Uttar Pradesh, Delhi, Gujarat, Himachal Pradesh, Karnataka, Rajasthan and Maharashtra supply Otipy with its produce. Otipy is operated by Crofarm Agriproducts Pvt Ltd. It was launched in 2020 by Varun Khurana.

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

Govt to provide collateral-free loans to start-ups under CGSS framework

The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers)

India's rich club grows to 1,103; Zepto's Kaivalya youngest in Hurun list

More than 82% of the billionaires on the list are above the age of 50, and only 0.6 per cent of the rich in the list are below the age of 30, said the Hurun India study

IIT-K startup incubator chosen as lead coordinator of ASEAN India festival

The Start-up Incubation & Innovation Centre (SIIC), the technology business incubator at IIT Kanpur has been selected as the lead coordinator from India for the 'ASEAN-India Start-up Festival 2022'.

Axis Bank eyes 10% stake in Go Digit life insurance business: Report

Axis is planning to take a 10% stake for around $9 million in the start-up's upcoming life insurance business, effectively valuing the business at $90 million