Page 2 - Startups In India

After criticism, Byju's introduces new process to verify customer consent

Technology-drive policy to check all sales thrice, says edtech giant

Indian start-ups witness decline in hiring; struggle with attrition: Study

According to the study, over 64 per cent of the respondents wanted to shift jobs for a 'stable job'

Unicorns in South and SE Asia need to reduce cash burn: S&P Global

They can't continue spending if operational turnarounds are delayed, says report

Startup ecosystem improving in eastern India, West Bengal: Nasscom

The startup ecosystem in eastern India, particularly West Bengal is improving, NASSCOM (East) chairman Sanjoy Chatterjee said here on Wednesday

Startup movement picked up momentum in India: Union Minister Jitendra Singh

Union Minister Jitendra Singh on Thursday said the startup movement has picked up momentum in the country and led to the creation of over 80,000 startups, whose number was about 350 before 2014. Singh said that due to a push from Prime Minister Narendra Modi, the startup movement has picked up momentum in India. It has led to the creation of over 80,000 startups whose number was only about 350 before 2014, he said while speaking after inaugurating National Genome Editing and Training Centre (NGETC) at Mohali, Punjab. The Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences also inaugurated a four-day International Conference on Food and Nutritional Security 2023: - iFANS. Singh said that agri-tech startup has an exclusive potential in India, and the concept needs more awareness by all the stakeholders in the country to become a success. While saying the startup movement has picked up momentum in India, the minister said this quantum jump in th

Govt to release norms to support startups' innovation in technical textiles

The government will soon release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment and is contemplating a grant of up to Rs 50 lakh for approved proposals, a top official said on Thursday. Responding to a query by PTI, Secretary in the Textiles Ministry Rachna Shah said that she is hopeful that the norms will be unveiled in a month's time. "We would have an evaluation committee which would decide on approving grant for that, so the grant would be up to Rs 50 lakh, that is what we are looking at," Shah said. Hopefully within a month or so, we will be able to have the guidelines, she added. Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.

Budget 2023: FDI in startups needs tax exemption, says Wadhwani Foundation

With an estimated 250 unicorns by 2025 from a little over 100 now and $180 billion of total funding by CY23, India's startup ecosystem is well-positioned to leverage the availability of young talent

After many rocking years, we needed a rocky year: Byju's CEO Raveendran

He said 2022 was the year of learning for all tech businesses, of every kind. "We had our share of learnings and growing, too. This was the year of introspection and action.

A match not made in start-up heaven

The current turmoil in the start-up world isn't all about the so-called funding winter. A bigger problem is the chasm between the goals of founders and investors

Startups to attract large foreign direct investments in 2023: DPIIT Secy

The country's startups will attract significant foreign direct investments (FDI) in 2023 on account of steps being taken by the government to strengthen the ecosystem for budding entrepreneurs, a top government official has said. Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said India has the third largest startup ecosystem in the world and the way startups here are performing; soon the country will become a top ecosystem globally. Number of recognized startups is increasing significantly, the Fund of Funds for Startups (FFS) and Startup India Seed Fund Scheme are doing good. Startups too will attract significant FDI in 2023, Jain told PTI. Presently, India has one of the most liberalized FDI policies wherein very few sectors require government approval, he said. The government with an intent to nurture innovation, startups and encouraging private investments in the startup ecosystem of the country launched Startup India initiative on ...

Indian startups witness 38% decline in total funding in 2022: Reports

India added fewer unicorns this year, as the number of companies that gained billion-dollar valuations fell by half from a year earlier

Why does WeWork India CEO think his firm is just scratching the surface?

Co-working giant WeWork is striving to gain a foothold in big Indian cities. Business Standard's Surajeet Das Gupta caught up with Karan Virwani, founder and CEO of WeWork, India, to know more

Legal tech start-ups have raised $57 mn in funding since 2013: Report

Indian sector has more than 650 firms and is valued at $1.3 bn to be second biggest in the world

MeitY, Google to help 100 Indian startups scale their app business

The Ministry of Electronics and Information Technology (MeitY) Startup Hub and Google announce they will help 100 more Indian startups with the second edition of Appscale Academy

Success rate of startups in India higher than rest of world: Goyal

The success rate of startups in India is relatively higher than the rest of the world and there were 84,012 recognised startups in the country at the end of November, Union minister Piyush Goyal said on Wednesday. To boost the startup ecosystem, the government launched the Startup India initiative on January 16, 2016, and an action plan was also put in place. "Startups are prone to failures is a very high probability. Though I must say, the success rate of startups in India is relatively higher than the rest of the world...," the minister told the Lok Sabha during the Question Hour. The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022, the minister said. The Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle. The Startup India Seed Fund Scheme has been approved for four years starting from 2021-22 a

Indian startups see huge 35% drop in funding, edtech among worst performers

As the funding winter deepens amid growing layoffs, India saw a massive 35 per cent drop in funding this year, from $37.2 billion in 2021 to $24.7 billion (till November in 2022)

Govt recognises 84,102 entities as startups as on Nov 30: MoS Commerce

The government has recognised as many as 84,102 entities as startups as on November 30 this year, Parliament was informed on Wednesday. These startups are eligible for availing host of incentives, including income tax benefits under the Startup India scheme, launched in January 2016. Under this initiative, entities are recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT). "As on 30th November 2022, 84,102 entities have been recognised as startups by DPIIT," Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. He said recognised startups are spread across 56 sectors, including agriculture, biotechnology and chemicals. Startup India was launched by the government on January 16, 2016. Under Startup India, to provide capital at various stages of business cycle of a startup, the government has implemented Fund of Funds and Startup India Seed Fund schemes. In a separate reply, Parkash said as on Nov

Fintech firm Enkash claims three-fold growth in valuation since March

Start-up that helps businesses manage their payments says it will not seek more funding this financial year

Govt mulls exempting early-stage startups from data bill provisions

The government is mulling exempting early stage startups from complying with norms under proposed Digital Personal Data Protection bill, an official source said. The exemption may be for a limited period to assist startups in developing their business models and to ensure that innovation is not stifled due to compliance burden. "Meity (Ministry of Electronics and Information Technology) is mulling to improve upon the bill to exempt early stage startups from the provisions of DPDP (Digital Personal Data Protection) bill. "This may be for a limited time period in cases where they may be doing some kind of data modelling etc to develop their solution," the source, who did not wish to be named, said. The draft DPDP has proposed exemption only for government notified data fiduciaries and data processing entities when it comes to data collection, data sharing, giving information around data processing etc. Last week, Minister of State for Electronics and IT Rajeev Chandrasekhar had sai

India most favoured destination globally for investments: Jagdeep Dhankhar

India is growing at a faster pace and it has become the most preferred destination for investments and opportunities in the world, Vice President Jagdeep Dhankhar said on Monday. Recently, India has surpassed its colonial masters and has become the fifth-largest economy in the world, he said. The Vice President also exuded confidence that India will become the third-largest economy on the global horizon by the end of the decade. "India is on the rise as never before. The rise of India is unstoppable, and we are the most favoured destination globally for investments and opportunities," he said here at the National Handicrafts Award ceremony. The handicraft sector holds a huge potential for growth, particularly in the rural and semi-urban areas, he noted. Dhankhar also suggested that professionals from IITs and IIMs can help the industry in promoting its growth and branding of products. Branding is key to fetch good prices, he said, adding it is only the handicraft sector where hug