Six months after its launch, the Modi government’s Start-Up India programme is rumbling into action. Some 20 fresh applications from start-ups will be considered for tax-break by the inter-ministerial board, when it meets this week. Till now, only three start-ups have been selected for tax breaks…
News
Andhra to get India’s first textile city
India’s first integrated textiles city is likely to come up in Andhra Pradesh. The central government has already initiated the process of identifying land, technology and expertise for the same. According to sources, Textiles Minister Smriti Irani has spoken to Andhra Pradesh Chief Minister N Ch…
Govt to develop salt clusters in coastal Ganjam district of Odisha
Bhubaneswar: The state government is planning to develop a salt cluster in Ganjam district of coastal Odisha. State additional secretary of Micro, Small and Medium Enterprises (MSME) Department, BB Behera, said the government will first diagnose problems of salt industries before taking any final…
Mitra Biotech raises $27.4 million in Series B funding led by Sequoia India
Mitra Biotech, a company that develops and provides novel technologies that personalise cancer treatment, has raised $27.4 million (approx Rs 183 crore) in a Series-B funding co-led by Sequoia India and Washington-based Sands Capital Ventures, and with participation from Boston-based RA Capital M…
Tightening fund flow affecting employment under startups
At a time when investors are gradually tightening their purse strings on venture capital-backed e-commerce firms and tech startups — from $2.91 billion in September quarter of 2015 to $1.52 billion in December quarter to $1.40 billion in March quarter of 2016 and to $583 million in June quarter o…
Paytm to raise $300 million, valuation pegged at $5 billion
Vijay Shekhar Sharma-led mobile wallet major Paytm is in advanced talks to raise $300 million in fresh funds. According to multiple sources, other than existing investors such as Chinese e-commerce giant Alibaba and SAIF Partners, the new round of fundraising will see participation from Singapore…
Merchant banker launches Simpal Mobile Payments startup
Simpal Mobile Payments and Information Services, a new fin-tech startup founded by former merchant banker Vineet Toshniwal, is amongst the first off the blocks to take advantage of the ambitious Unified Payments Interface platform, launched last week by the National Payments Corporation of India …
International start-up conference in Hyderabad on Sep 3-4
An international start-up conference being held here from September 3 will see 12,000 participants attending workshops and deliberating on a wide range of issues related to emerging companies. The fourth edition of the conference, ‘August Fest’, is being supported by the Telangana Gov…
Electropreneur Park by Electronics & IT Min set for launch
Government-funded Electropreneur Park, an incubation centre with focus on IP creation and product development to increase domestic manufacturing of electronics items, is scheduled for launch this week. The Electropreneur Park with funding support from Ministry of Electronics and Information Techn…
South Africa’s Net1 tops up Mobikwik wallet by $40 million
South Africa headquartered global payments solutions and transaction processing company Net1 UEPS Technologies Inc has announced a strategic partnership with digital wallet player MobiKwik. Net1 will invest $40 million in MobiKwik and will integrate its Virtual Card technology with the MobiKwik w…