With big Indian companies showing interest in manufacturing defence equipments, the Small and Medium scale Enterprises (SMEs) have a big opportunity to set up ancillary units. Reliance has shown interest in setting up a defence equipment park in Mihan and this is a golden opportunity for local co…
KVIC apathy led to loans of Rs. 551 crore turning bad: CAG
The failure of the Khadi and Village Industries Corporation (KVIC) to follow up on loans led to Rs. 551.46 crore not being recovered, and also resulted in the diversion of Rs. 226.70 crore meant for servicing loans of SBI up to March 31, 2015, the CAG said in its compliance audit report. As on Ma…
Seminar to connect MSMEs with fund providers being held in Kolkata on Aug 10
A seminar on ‘Financial Clinic for MSMEs – Facilitating Businesses for Sustainability”; is being organized in the city on August 10, 2016. The seminar is aimed at connecting the MSMEs to the fund provider as per their specific financial needs ranging from collateral-free loans to working ca…
Axilor opens applications for accelerator programme starting in September
Axilor, a Bengaluru based platform for supporting early-stage startups, has opened applications for its accelerator programme starting in September. It is looking to induct up to 15 startups in the upcoming batch. Axilor, whose founders include Senapathy ‘Kris Gopalakrishnan and SD Shibulal…
Startup merger and acquisitions surge on funds crunch
As venture funding slows down, startups seem eager to sell themselves off. This is showing up in a surge in Mergers & Acquisitions (M&As). In July, there were as many as 36 M&As, almost twice that in June and about three times the January and February numbers, according to data from s…
Startups now exempted from any prior experience in public procurement
All startups have now been made eligible to get exemption from the prior experience criteria in public procurement, a benefit that was enjoyed only by micro and small enterprises so far. The department of expenditure has issued a directive to all ministries that all startups — “micro,…
Freecharge inks partnership with PayUbiz for digital payments
Freecharge, India fastest growing digital payments platform has partnered with the leading payment gateway solution provider, PayUbiz, to further strengthen its merchant base and help consumers move from cash to digital payments. This integration allows Freecharge to tap PayUbiz more than 10,000 …
Bengaluru startup launches all in one taxi fare comparison app
YoRide, a Bangalore based startup launched the perfect taxi fare comparison and booking app. The app helps users compare availability and fare across all taxi/cab-booking apps. YoRide hit 10,000 downloads mark within 100 days of launching in Android and iOS stores. The number of people booking a …
SheEO, female entrepreneur support organisation, venturing into India
SheEO, a Toronto-based female entrepreneur support organisation, is venturing into India, roping in investors to fund startups run and owned by women. The model calls upon 1,000 women per city to commit $1,000 (Rs 67,000) each to provide low-interest loans to 10 women-led ventures that are select…
Ex Shopclues VP Devesh Rai launches B2B marketplace Wydr
Devesh Rai, a founding member and corporate VP of the startup Shopclues, has set up a B2B marketplace Wydr, which deals in wholesale. Rai said it was while dealing with several brands and wholesalers in his past stints with companies that he identified several gaps and pain points in the business…