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With $323 mn funding, 2016 a bumper year for ed-tech cos

The year 2016 has become a bonanza for the education sector, which has received investments of $323 million -surpassing the previous high of 2014 when ed-tech companies raised $223 million. At 26, the number of deals this year was also over three times more than last year’s $98 million (23 …

Note ban kills MSME sector’s window before going cashless for GST

Hyderabad: What has demonetisation done to the struggling and attention-sought Micro, Small and Medium Enterpises (MSMEs)? These industries which were directed to go cashless before the implementation of Goods and Service Tax (GST), expected in about four more months, have been forced to go digit…

Indian IT will hire more small firms as they look to bridge digital gaps

Indian IT services firms may invest aggressively in acquiring smaller firms in 2017 to enhance digital technology capabilities. A large chunk of these acquisitions by companies such as Wipro, Cognizant, Tata Consultancy Services and Infosys, others will be driven by the need for transformation as…

Gurgaon gets its first start-up incubation hub

Haryana Chief Minister Manohar Lal Khattar launched Gurgaon’s first incubation centre on December 25 during an event organised to observe Good Governance day at Haryana Bhawan in the capital. Termed as ‘innovation campus’, the centre in the city that works on a plug-and-play mod…

Govt launches portal to facilitate jute bag purchase

Textiles Minister Smriti Irani launched several initiatives, including an online portal, to facilitate purchase of jute bags from the industry by state procurement agencies with an overall aim to promote good governance. Besides the portal Jute Smart, the Minister launched a dashboard for Integra…

‘Google Tax’ detrimental to start-up ecosystem: Experts

The equalisation levy, also known as ‘Google Tax’ which the government is imposing on online advertising revenue by non-resident e-commerce companies earned in India, is expected to adversely affect the startup ecosystem going forward, according to tax experts. The levy which is at 6 …

As valuations plunge, start-ups asked to shell out more in tax

Startups that have seen marked down valuations in subsequent funding rounds have been ordered to pay tax on the grounds that the first round of investment was made at a premium. The Income Tax department has issued such orders or adjustments in about 100 cases across India between November 30 and…

How start-up speak changed in 2016

The startup vocabulary of 2016 has been markedly different from the glory years of 2014 and 2015 when unicorns were born every other week, and sky-high valuations meant scale and size won over strategy and solid business models. This year as funds dried up, a number of promising startups of 2015 …

Demonetisation crisis is stalling SMEs & sending workers home

Over the past two years, this suburb of New Delhi mushroomed into a flourishing enclave of small cellphone manufacturers, attracting tens of thousands of workers from the countryside. Noida, known as the “handset hub,” was touted as a showcase for Prime Minister Narendra Modi’s pet “Make in India…