Startup Ecosystem

Banking crisis: It's time for a relook at funding ecosystem for start-ups

The crisis in global banking has unsettled the Indian start-up ecosystem and raised afresh the old question of overdependence on offshore investors

Mahanaaryaman Scindia expects MyMandi to turn profitable by Dec 2023

Gwalior's royal family scion Mahanaaryaman Scindia, whose name speaks volumes, has shed his legacy and ventured into building his own empire from scratch through startup MyMandi, which he expects to turn profitable in about one-and-a-half years of its business commencement. By combining his lineage of public service, lessons of creating social impact by grandfather late Madhavrao Scindia and wisdom acquired during work at global firms Boston Consulting Group and Softbank Group, 27-year-old Scindia and his firm's co-founder Suryansh Rana, 25, zeroed in on a common passion of working in agriculture sector, cut down on waste of fresh produce and logistic costs. Founded in 2022, MyMandi began operations from Gwalior where Scindia himself goes into local mandis, with a covered face to conceal his identity, for procuring fresh produce and sell the inventory to the firm's last mile delivery partners -- street vendors and cart pushers community. The formula of their venture has led to a ...

Fundraising gets tougher, 2023 super challenging for startups: Report

Amid a deepening funding winter, only 53 per cent of startup founders had a positive fundraising experience (71 per cent of those who attempted to raise) in 2022, down from 92 per cent in 2021.

National Education Policy complements startup ecosystem: Jitendra Singh

Highlighting the National Education Policy-2020, Union Minister Jitendra Singh said the policy complements the startup ecosystem in India with the promise of opening up new career

Brick&Bolt raises $10mn in funding round co-led by Accel, Celesta Capital

Construction services start-up will use the funding for technology, business expansion

Hotels to tickets: Travel return fuels growth for online travel aggregators

EaseMyTrip, Airbnb and OYO among companies reporting steady growth in business as pandemic wanes

India has emerged as third-largest startup ecosystem in world: Smriti Irani

Union Minister Smriti Irani on Tuesday said India has emerged as the third-largest startup ecosystem in the world with more than 84,400 such businesses operating across 656 districts in the country. In 2014, there were only 720 startups in the country, Irani said. She further said the valuation of Indian unicorns stood at USD 332.7 billion. "Under Prime Minister Narendra Modi's leadership, India has emerged as the third-largest ecosystem of startups with more than 84,400 startups in 656 districts across the country," Irani was quoted as having said in a statement issued by the BJP. The minister said in 2014 when Narendra Modi assumed the charge of prime minister, he had stated that his aim would be to create such atmosphere that the youth should be "job creators rather than job seekers." "Prime Minister Modi took various measures including Skill India, Start-up India, Stand-up India, Make in India, Digital India and Mudra Yojana to empower the youth," Irani said. Talking about th

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

LIVE: India is world's 3rd largest startup ecosystem, says Smriti Irani

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IN-SPACe inks pact with deep tech startup to develop satellite QKD products

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has signed a memorandum of understanding (MoU) with Bangaluru-based deep tech startup QNu Labs to develop indigenous Satellite QKD (quantum key distribution) products. With this MoU, QNu Labs, with the support of Indian Space Research Organisation (ISRO) and IN-SPACe, aims to demonstrate unlimited distance Satellite QKD based quantum secure communication, according to a joint statement on Tuesday. Terrestrial QKD systems have the limitation of requirement of repeaters every 100-150 kms, which is a big hindrance in creating a large-scale Quantum Secure Network, it was noted. "With Satellite QKD capability, India holds the potential to become a world leader in creating Quantum Secure Communication Network", the statement said. "The outcome of this collaboration shall ensure that India leads the future of global quantum communication networks that will involve a combination of the quantum-satellite constellation,

Don't go by western concept of arm's length: Ashneer tells startup founders

BharatPe's former MD Ashneer Grover, who was recently slapped with a civil suit and criminal charges for cheating and siphoning off funds from the company he co-founded, has advised startup founders not to go by Western concept of arm's length and related party transactions. In his new book 'Doglapan', Grover says there is nothing wrong in giving spouses a board position as they invest in founders' success and will be a victim of their failure, like no one else. "Just because your business has capital coming in from the US, you do not have to go by their concept of management - of not involving family in business," he writes. "To my mind, the concept of a related party transaction in India is totally irrelevant." BharatPe, a fintech unicorn, has in recent days taken three legal actions against Grover - filed a civil suit in the Delhi High Court, a criminal complaint with the Economic Offences Wing and filed an arbitration for clawing back his restricted shareholding and founder tit

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

Start-ups to take up nearly 30% of gross office leasing in 2022: Study

Bengaluru leads in terms of space leased by such companies, says JLL report

SaaS platform Biz2X says it plans to hire 250 people by 2023 in India

Focus is to retain the right talent keeping in perspective the layoffs happening in the start-up ecosystem, says senior VP Anupama Garg

Mumbai's venture debt marketplace plans early-stage funding for startups

A Mumbai-based venture debt marketplace is in the midst of setting up an Alternate Investment Fund (AIF) in India and raise USD 90 million for funding 100 startups in 10 countries as well as opening a Singapore office. The AIF, a private equity fund in India, will raise money from Indian investors for the Indian companies, Mumbai-based 8vdx founder Ravi Chachra said on the sidelines of Singapore Fintech Festival. We have money from Indian investors and we are setting up an Indian AIF, an equity fund, said Chachra, a serial entrepreneur and veteran financial investor with a specialisation in credit. The Mumbai team of 15 will be expanded to 40 next year while 10 more funding experts will be placed in offices in Singapore, to be opened next year, as well as Delaware and California. The company has already raised USD 10 million, some of which have come from small investors such as people keen on investing as little as US$10,000 in startups, he explained. Chachra, and 8vdx co-founder

Valuation of startup ecosystem nearly Rs 3 trillion, says Piyush Goyal

The valuation of the startup ecosystem in the country is nearly Rs three lakh crore, Union Commerce and Industry Minister Piyush Goyal said on Saturday. "...the fact that we are probably 110-plus unicorns, about 75 or so soonicorns which are on their way to become unicorns, is truly a remarkable achievement. The last time we did a valuation of our startup ecosystem, it came to about USD 368 billion, that's nearly three lakh crore rupees," he said. Goyal said there are over 80,000 startups in the country registered with the Industry Ministry. "We have about over a million people directly engaged by them. Must be many million more who are indirectly involved in the entire startup ecosystem. Over a 110 unicorns," he said. He spoke about the various initiatives taken by the government to promote the startups. The government is also strengthening the patent offices and everything is going to be online, he said. He was replying to a query on what is being done to boost the startup ...

Made-in-India VCs continue to grow in numbers despite economic headwinds

145 new companies were set up in India in the past two years - 123 in 2021 and 22 in 2022: Tracxn data

Start-ups tap venture debt to stay afloat amid funding winter, say experts

The venture debt market is becoming popular within the start-up ecosystem with a lot of new funds coming up and limited partners also showing their interest in financing such investments

India's startup sector sees 80% drop in Q3 funding, slowdown to continue

The funding in Indian startups nosedived a massive 80 per cent (year-on-year) in the third quarter (July-September period) this year, with the late stage funding seeing the biggest fall

India recognized as 'country of the year' by Europe's Vivatech: Vaishnaw

This is the recognition of Indian start-ups. We have embarked on this exciting journey," said Union Communications Minister Ashwini Vaishnaw