Union Minister of State for MSME Giriraj Singh said the central government is committed to promote diversification in the agriculture and the food processing sector. “Farmers in Punjab must venture into diversification in agriculture so that they can reap good financial dividends,” he…
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Oil & Gas field auctions: ONGC, OIL retreat paves way for start-ups, new players
Paving the way for start-up firms and new players with little experience in operating hydrocarbon blocks, the country’s two public sector explorers — ONGC and Oil India — have decided to stay away from the ongoing auctions of the 67 discovered marginal oil and gas fields. The auction would close…
Textile majors keen to stitch up Patanjali’s khadi proposal
Yoga guru Baba Ramdev’s plans to venture into clothing and make khadi apparel has evoked positive response from the textile industry with teams from some prominent business houses approaching Patanjali with their products. Earlier this week, a team from the Raymond Group showed different samples …
Nirmala Sitharaman launches UberPitch challenge for start-ups
Commerce and Industry Minister Nirmala Sitharaman launched cab aggregator Uber’s challenge — UberPITCH — in a bid to reach out to budding entrepreneurs of tier-II cities. The challenge was launched under the Uber Exchange programme for 28 cities across India with a focus on tier-II cities. Shortl…
InnoVen Capital lends $20 mn to Indian start-ups in Q2
Temasek-backed venture debt firm InnoVen Capital has increased its lending to Indian startups by USD 8 million in second quarter of FY17. The company funded deals worth 15 deals worth USD 20 million compared to USD 12 million in the previous quarter. Between July and September this year, InnoVen …
DIPP taking steps to resolve problems faced by start-ups: Ramesh Abhishek
The industry department has identified roadblocks faced by start-ups and is in talks with other departments to resolve the issues to provide favourable policies for budding entrepreneurs. “We have identified a number of problems of the start-ups”, Department of Industrial Policy and Promotion (DI…
Tradeshift tapping Indian small businesses for its invoicing platform
Tradeshift, the “social network for invoicing,” sees serious potential in India’s small business sector, CEO Christian Lanng told. The start-up, which connects businesses to simplify their expense systems, told that India was Tradeshift’s fastest growing market, with 15,000 smal…
Strategic approach to regulation can boost SME exports: ITC
Governments have a massive opportunity to boost national trade if they think strategically about how standards and regulations help or hinder SMEs to export, the Geneva-based International Trade Center (ITC) said in a report published on October 6. “If you want to maximize your chances of g…
Reverse bidding start-ups show the way forward
Shahir MS was looking to book a room at a three-star hotel in Chennai when he stumbled upon a start-up which asks potential guests to make a bid, instead of the traditional model which aggregates prices offered by hotels. The average room rate, Shahir found, was Rs 2,500 a night but he made two b…
Telemedicine solution provider Neurosynaptic rises Series A funding
Neurosynaptic Communications, that offers e-health and m-health technology solutions, has raised an undisclosed amount in Series A round of funding from healthcare focused venture fund Healthquad, Indian Angel Network and Infosys Co-Founders-backed Axilor Ventures. Healthquad and IAN will be join…