NEWSROOM
Here’s your scoop of attention-grabbing headlines from around the Indian startup ecosystem.
THERE IS SOMETHING FOR EVERYONE
Top IITs, IIMs launch consortium to boost Indian entrepreneurship ecosystem
A consortium of five premier management and engineering institutes has been set up to boost the Indian entrepreneurship ecosystem.
Telangana Govt & MedTechConnect launch Project Tej for medical tech innovation
Hyderabad: In order to provide a platform which can enable aspiring entrepreneurs to test their innovative ideas in the field of medical technologies, The Government of Telangana and MedTechConnect, a platform founded by Cyient and Xynteo’s India2022 coalition, have joined hands together to launch a new initiative called Project Tej. As part of BioAsia 2020, an Asia-specific Biotechnology and Life-sciences forum, Telangana State’s Research and Innovation Circle of Hyderabad (RICH) and MedTechConnect have signed a Memorandum of Understanding (MoU) in an endeavour to accelerate and support indigenous innovations in medical technologies.
New Microsoft programme to empower B2B startups in India
“Businesses can now fast-track their digital journeys through easy adoption of enterprise-grade solutions.”
Fintech platform BharatPe raises $75 million in Series-C funding round
New-Delhi based fintech platform BharatPe has raised $75 million in a Series-C financing round, TechCrunch reported on Monday.
Vice President Naidu wants startups to help create agri-entrepreneurs, new models in food processing
M. Venkaiah Naidu urged entrepreneurs to “evolve effective models in the food processing sector” post consultation with the scientific community and farmers.
Millennial aspirations are shaping the world of startups
Over the past decade, India has become one of the largest startup ecosystems in the world. A NASSCOM report estimates that India has more than 9,000 tech startups alone, and that the startups in the country have created as many as 60,000 direct jobs and up to 180,000 indirect jobs. This startup ecosystem is driven largely by millennials, who are both creators and consumers of the products and services on offer. It is, therefore, important to understand the motivations and aspirations of this demographic, as they will drive both demand and supply of our industries in the years ahead.
FinMin push startups to avail ESOP tax benefits announced in Union Budget 2020
‘The government will have to work on registering more startups with DPIIT, however that doesn’t stop me from extending the tax benefits to already registered ones,’ Sitharaman said.
Ed-tech startup Unacademy raises new funds, now valued at $510 million
The Series E fund raise, also saw participation of existing investors Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures
Fintech funding in India doubled to $3.7bn in 2019: Report
The number of deals was up slightly to 198 last year from 193 in 2018, said Accenture analysis of data from CB Insights, a global venture-finance data and analytics firm.
Epiq Opens Centre of Excellence in Hyderabad to Support Clients Worldwide
Hyderabad: Epiq, a global leader in the legal services industry, today announced the opening of its global capability centre in India at Hyderabad. Located at Sohini Technology Park in the financial district, the state-of-the-art facility is the latest long-term investment by the US-based company to support customers anytime and anywhere in the world.
Telangana, Tech Mahindra launch Blockchain accelerator
Through this initiative, Tech Mahindra, will enable the creation of an ecosystem which will empower startups to solve tough business problems for clients across diverse industry verticals.
Dunzo raises $11 million to fend off losses in a market crowded with Amazon, Flipkart, Swiggy and more
Hyperlocal delivery startup Dunzo has just raised $11 million in venture debt fund from Alteria Capital to move on the path of profitability.
Understanding ESOPs valuation: Why it is crucial for startups
The Union budget has provided for certain concessions in tax treatment of employee stock option plans (ESOPs) for startups. Globally, ESOPs have successfully aligned interests of employees with that of shareholders (mainly improvement in company’s performance and consequential appreciation in valuation of companies) and have played an instrumental role in success of many startups.
DPIIT asks RBI, SEBI to set up startup teams
The Department for Promotion of Industry and Internal Trade (DPIIT) has asked regulatory bodies and the central tax body to establish dedicated teams within their institutions to address regulatory and compliance issues of startups.
Novartis launches Biome India, its first Asian digital innovation hub, in Hyderabad
Novartis already has a huge presence in Hyderabad with its drug development and research facilities. Overall, India is a big hub for the company with 8,000 employees, manufacturing facilities and business services.
Indian firms may offer 9.1% pay hike, lowest in decade
Attrition rate among Indian employees bumped up to 16.1% in the past year, says surveyThe study analysed data of more than 1,000 Indian companies from across 20 sectors
T-Hub wins Startup India, DPIIT’s bid to lead a program for 30 incubators
Five applications were shortlisted for this bid, and T-Hub was selected based on its rich and successful experience of running various programs for its key stakeholders, such as startups, corporates, government and ecosystem enablers.
ESOPs rising post Budget as startups do the math
Employees at young startups now have the option of deferring ESOP tax payments.
How startups crack the profits puzzle
Nudged by investors, many startups are abandoning a growth-at-all-costs approach. Here’s how
STPI-IMAGE logs in to incubate startups
Telangana IT Secretary Jayesh Ranjan (R) exchanging MoU document with Omkar Rai, Director General of STPI, in Hyderabad on Monday
Yamaha in talks to lead $35 million round in Drivezy
Drivezy is a Y Combinator summer 2016 batch startup. It has so far raised $28 million in equity financing from the likes of Das Capital
WE HUB & University of Basel, Switzerland partner to Enable Women Entrepreneurs with Global Market Access
• The two have joined hands to supercharge the growth of the women led start-ups from India and Switzerland
• Tech and non-tech start-ups in healthcare, pharma, life sciences sectors will get benefitted with global market access
• The partnership was enabled by swissnex India to accelerate FEMentrepreneurs, an initiative to enable more young women researchers and women-led start-up
FM Nirmala Sitharaman promises measures to further boost Indian startups
Union Finance Minister Nirmala Sitharaman met a cross-section of industrialists, trade bodies, ecommerce companies, and startups to receive feedback from them, following the presentation of the Budget on February 1.
‘We have to create enough space for startups to grow’
In 1996, Hema Hattangady took over as the CEO of Conzerv, an embattled family-owned firm based in Bengaluru that manufactured digital energy meters. Over the next twelve years, she grew it to a Rs 100 crore company, which has become the country’s largest energy-management company.
Meet the desi aunty playing match-maker for Indian startups
An early attempt was the M&A Connect programme started by iSPIRT in 2013A number of alumni and industry groups have tried to give this a structure over the years
Angel’s advocate: 7 reasons why becoming angel investor in startups would be worth every penny
Gone are the days when the assumption was that only those individuals who were classified as super-rich had the potential to become an angel investor in a start-up.
FinMin Sitharaman invites feedback from startups on taxing ESOPs
After proposing to defer tax payment on shares allotted by startups to their employees under the Employee Stock Option Plans or ESOPs by five years in the Union Budget, Finance Minister Nirmala Sitharaman has now asked for feedback from startups.
SoftBank’s Son considers new type of fund for startup investing
Before the first Vision Fund, SoftBank set up an entity called Delta Fund that was used for startup deals, including some that eventually were moved into the Vision Fund. Son could simply inject capital into that vehicle.
Big firms heading to Telangana to set up shop: KT Rama Rao
Telangana appears to have become investment destination not only for Information Technology firms but also for food processing and other industries.
Pact with HDFC to open new avenues for startups in Odisha
BHUBANESWAR: Chief Minister Naveen Patnaik on Wednesday announced that the State Government would set up a world-class startup hub in Bhubaneswar and launch a Fund-of-Funds for startups this year to boost the ecosystem.
Forget discounts, this strategy is what can help entrepreneurs attract and retain customers for long-term
For today’s consumers who are always hustling, time is money (in the literal sense). Most would prefer a good hassle-free customer experience to deals that are cheaper but cost them more time, energy and efforts.
Titan acquires Hyderabad wearables startup HUG Innovations
Neravati started HUG to address women’s safety issues, triggered by the Nirbhaya incident way back in 2012.
How Mumbai overcame unicorn drought, migration, other woes to become a major startup hub
Mumbai has an active startup base of 9,000+ and has grown into a major B2B hub. A supportive State government, a robust financial ecosystem, and a huge population is fostering the city’s startup culture.
Titan acquihires IoT wearables startup HUG Innovations
Hyderabad-based startup HUG Innovations’ CEO and Founder Raj Neravati, along with 23 others in his team, have joined Titan Company from January 2020.
Non-profit tech: AI-based startups make it to Cisco, N/Core's third cohort
Each selected startup receives an innovation grant of Rs 15 Lakh
Why So Many Tech Startups Misbehave
(Bloomberg Opinion) — It’s hard to miss how many technology companies engage in increasingly questionable — and occasionally reprehensible — conduct. This is something beyond the unsavory frat b…
Chinese smartphone giant Xiaomi invests in Indian recruitment tech startup WorkIndia
WorkIndia claims to have 15 million job seekers across more than 750 Indian cities on its AI-enabled platform.
Startup incubated at IIT-Hyderabad launches high-speed electric scooter
The vehicle and its battery have been designed and developed factoring in the Indian terrain and weather conditions.
Time For Indian Startups To Opt For More IPOs?
Last Friday, Kris Gopalakrishnan told PTI that India has one of the finest and advanced fintech ecosystems. Also, he stressed on why the creation of a database is of utmost importance.
Hyderabad has created its space, despite Bengaluru's legacy: Telangana IT secy
Jayesh Ranjan told TNM in an interview that Hyderabad’s growth has been by design, that has happened through planned effort by the government.
Rs 70 crore investments into startups from various sectors announced
On the occasion, officials of Pavizham Oil and Rice handed over its Corporate Social Responsibility fund of Rs 9.4 lakh to startup Red Button as part of the Red Button public safety programme.
Blockchain project T-Chits receives national award
T-Chits is carrying out transactions amounting to Rs 18,549 crore per annum with over 10.08 lakh subscribers.
T-Hub Opens Doors to Australian Market for Indian Startups by Signing MoU with inQ Innovation
Under the MoU, startup exchanges between the Indian and Australian innovation ecosystems will be initiated.
Shunwei Capital, Xiaomi bet big on Indian startups
This is latest deal struck by the Chinese investment firm, which has emerged as one of the most active deal makers in India’s startup ecosystem.
DPIIT, IT Ministry Likely To Back Startups In ESOPs Relaxation Demands
While the finance minister Nirmala Sitharaman proposed a 5-year deferment for tax on exercise of employee stock ownership plan (ESOPs) during the Union Budget 2020, Indian startups are planning to form a lobby to highlight their grievance in front of the Prime Minister’s Office (PMO).
Startup Street: Will reach 50 million merchants before 2025, says Paytm’s Vijay Shekhar Sharma
The company has added new products to its suite with an all-in-one POS device and business payments for merchants, Sharma told CNBC-TV18.
Sebi to allow live testing of new products
New Delhi: With an aim to facilitate use of latest fintech innovations in capital markets, regulator Sebi is planning to allow live testing of new products, services and business models for selected customers by providing various relaxations and exemptions.
Govt sops may give breather to startups’ cashflow problem but will they uplift sluggish ecosystem
In her Budget speech of 2020, Hon’ble Finance Minister Nirmala Sitharaman rightly expressed concerns over the unimpressive evolution of ‘Start-up India’ initiative despite immense support by the government in the past.
These seven consumer brand startups have made it to Anthill Ventures' ‘Urban-i’ programme
The programme will invest between $50 – 100K at the beginning of the programme and provide an opportunity to raise up to $1M upon completion of the programme.
T-Hub had to change from incubation to acceleration to scaling, says CEO Ravi Narayan
Having previously discussed the incubator boom across the State over the last decade, it is fair to say one can only wonder, ‘what next?’ Does the startup industry experience a plateau or would there be a slump?
