Industry Minister Rajendra Shukla has said that an investor summit exclusively for Micro, Small and Medium Enterprises (MSME) would be organised to attract investments in the state. “MSME needs a new lease of life. We will hold an investor summit exclusively for MSME in the state,” he said during…
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Axilor opens applications for accelerator programme starting in September
Axilor, a Bengaluru based platform for supporting early-stage startups, has opened applications for its accelerator programme starting in September. It is looking to induct up to 15 startups in the upcoming batch. Axilor, whose founders include Senapathy ‘Kris Gopalakrishnan and SD Shibulal…
Startup merger and acquisitions surge on funds crunch
As venture funding slows down, startups seem eager to sell themselves off. This is showing up in a surge in Mergers & Acquisitions (M&As). In July, there were as many as 36 M&As, almost twice that in June and about three times the January and February numbers, according to data from s…
Startups now exempted from any prior experience in public procurement
All startups have now been made eligible to get exemption from the prior experience criteria in public procurement, a benefit that was enjoyed only by micro and small enterprises so far. The department of expenditure has issued a directive to all ministries that all startups — “micro,…
Power tariff hike hits MSMEs in poll bound UP
The increase in power tariff announced by the Uttar Pradesh Electricity Regulatory Commission (UPERC) on August 1, will adversely affect MSMEs in the poll bound state. MSMEs in U.P. are already battling economic slowdown and frequent power cuts. UPERC has announced a four per cent increment in po…
Govt launches performance, credit rating scheme for MSMEs
A performance and credit rating scheme has been launched by the MSME Ministry to assess the capabilities and creditworthiness of the industries in the sector, Lok Sabha has been informed. “The Ministry of MSME through National Small Industry Corporation Limited is implementing Performance a…
Lack of finance & delayed payments hampering MSEs, says CRISIL study
Micro and small enterprises (MSEs) are typically promoter-driven, be it operations or financing. A CRISIL study of 6,000 MSEs shows that promoters contribute 50-60 per cent of the net working capital requirement – or twice what they are supposed to contribute – because of restricted a…
Relief for MSME pump makers as Andhra Pradesh HC stays tender
In a major relief for pumpset makers in the MSME (Micro, Small and Medium Enterprises) segment, the Andhra Pradesh High Court has stayed the tender by ‘Energy Efficiency Services’ (EESL) of the Union Power Ministry for buying 1.5 lakh submersible pumpsets in the state. EESL recently f…
SBI and Oracle India collaborate on Digital Skills Programme
In a first-of-its-kind joint corporate citizenship collaboration, two of India largest organizations, State Bank of India (SBI) and Oracle India have launched the D-Change; programme. The initiative supports Prime Minister Narendra Modi Skill India and Digital India plan and furthers Oracle commi…
Xerox unveils affordable device for SMBs
Xerox has launched an affordable colour multifunction device for Small and Medium size Businesses (SMBs). The DocuCentre SC2020 equipped with Xerox colour printing technologies is an A3 multifunction device designed to expedite print jobs. It has easy to understand touch screen and mobile access …