The Centre’s ambitious Startup India initiative has managed to disburse only Rs 5.66 crore of the promised Rs 10,000 crore a year after its launch. On February 8, in its response to the newspaper’s RTI queries, the Small Industrial Development Bank of India said it had created a corpus of only Rs…
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Modi’s Make in India dream takes a hit as manufacturing sales fall
Despite the government’s efforts to attract investment under its Make-in-India campaign, sales of manufactured goods fell 3.7% during 2015-16–the first decline in seven years–sparking fears of layoffs and debt default in the months to come. Spurred by a global slowdown and lack of demand, sales o…
Is ‘Google Tax’ making start-ups a tax scapegoat ?
Looking factually among the next breakout economies, India is the largest pie of the future bread and butter to several large digital ad networks – the Googles and Facebooks of the world – thanks to its more than 277 million Internet users, second only to China and ahead of the US. In fact, it al…
British Indians pool funds for Indian start-ups, open new accelerator in Bangalore
From billionaire steel magnate Lakshmi Mittal to London cabbies, England teems with people from its former colony, India. They bagged nearly 60 percent of British work visas last year and comprise the UK’s biggest overseas-born population. One of them is Atal Malviya, who got a computer science d…
IIM Bangalore’s Women Start-up Programme picks 15 new biz ideas
The NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), at the Indian Institute of Management Bangalore, and Goldman Sachs today selected 15 women entrepreneurs and their ideas for incubation over next year as the final phase of its Women Startup Programme. This is a Goldman Sachs-backed cu…
Mahindra Electric looks to start-ups for 3x growth in 2017
Mumbai: One of the few manufacturers of electric vehicles in India, Mahindra Electric is targeting a 2-3 times growth in 2017 and is knocking on startups’ doors to achieve the same. The hybrid vehicle maker launched four variants in 2016 — e2o plus, eVerito, eSupro Van in cargo and passenger vers…
2017 to be a better year for Indian start-ups: Qualcomm Ventures
Qualcomm Ventures, the venture investment arm of US-based chip maker Qualcomm Inc which has a USD 150 million India-focused fund, expects 2017 to be a better year for the startup ecosystem, especially early stage companies. “2016 was the hardest year, and that is behind us. 2017 will be a better …
Upaya Social Ventures launches accelerator programme targeting small businesses
Seattle- based non-profit organization Upaya Social Ventures has launched its 2017 accelerator programme targeting small businesses which are creating jobs by ‘organizing the unorganised sector.’ The accelerator will have three different cohorts of 8-10 ventures across six months whic…
Need to encourage leasing to boost SME growth: World Bank
The World Bank Group sees “leasing” as an important financing tool for Small and Medium Enterprises (SMEs) and wants policymakers in India to take steps to propel its growth in the country. “Leasing is very sensitive to taxation and I understand the taxation rules were changed, and as a result, i…
Two SME IPOs to hit capital markets next week
To tap upbeat investor sentiment, two small and medium enterprises (SMEs) – Akash Infra Projects and RMC Switchgears, will come out with their initial public offerings next week to raise about Rs. 30 crore. This is in addition to five SMEs that have already hit the capital markets this mont…