The Internet & Mobile Association of India (IAMAI) said that that the proposal for Amendment of Companies Act to register startups in one day is a welcome move, and it is a step towards ease of doing business in India. “The focus on leveraging technology to streamline distribution and t…
Companies, Finance & Markets
CarTrade to venture into used-car financing
Auto classifieds site CarTrade wants to make it easier for buyers of used cars to get loans. It’s currently piloting a project to promote institutional financing of such vehicles. “There are 3.5 million used cars sold every year in India, out of which not more than 10% are financed by…
Craftsvilla bets on customisation to drive more traffic to its app
Online ethnic products marketplace Craftsvilla is betting on customisation to drive more traffic to its app launched a year ago. With app-only discounts and a marketing budget close to Rs 30 crore, the marketplace has already been able to double the number of in-app conversions. “Close to 2…
SIDBI to raise Rs 10,000 Crore Stand up India fund corpus from RBI
The Small Industries Development Bank of India (SIDBI) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs, a top official said. “We are working to have the corpus in place for the Stand…
Lendingkart joins hands with craftsvilla.com for loans to its sellers
Lendingkart, a online platform that facilitates Small and Medium Enterprises (SMEs) in obtaining working capital loans, has tied up with Craftsvilla.com. The association will facilitate easy and collateral-free working capital loans to Craftsvilla’s sellers seeking monetary assistance. Mumb…
Economic survey 2016 | 19,000 startups in India but exit options are bleak
While India’s startup ecosystem continues to develop at a rapid pace, the exit options for risk capital investors, who have poured in billions of dollars backing home-grown ventures, remain bleak, according to the Economic Survey 2015-16 released by the Government on Friday, and which was t…
Ola signs pact with UP govt to create over 50k entrepreneurs
Taxi aggregator Ola on February 24 entered into an agreement with the Uttar Pradesh government to create over 50,000 entrepreneurship opportunities across the state. As per the pact, Ola will work with the state government towards skill development of youth in state and providing entrepreneurship…
Mitsui invests in Singapore-based big data company Crayon Data
Japanese conglomerate Mitsui & Co has made an undisclosed investment in Singapore-based big data company Crayon Data. This comes two months after Tata Group chairman emeritus Ratan Tata’s investment into Crayon Data. The funds from Mitsui will help Crayon Data accelerate global expansio…
Google’s Waze exploring tie-ups with local startups
Israel-based mapping and navigation company Waze, which was acquired by Alphabet’s Google in 2013, is planning a stronger foray into fast-growing internet market in India and is exploring tie-ups and partnerships with local startup poster boys such as Ola and Flipkart, according to a top Wa…
Siddaramaiah urged to allocate Rs 5k cr for Industry Development
Karnataka Small Scale Industries Association (KASSIA) has urged Chief Minister Siddaramaiah to earmark Rs 5,000 crore in the next budget for the development of industry in the state. KASSIA President V K Dixit made this demand at the pre-budget meeting Siddaramaiah held with trade and industry bo…