The percentage of start-ups failing in Chennai is lower than in Bengaluru and the national capital region, considered to be the hubs for start-ups. Lakshmi Narayanan, Vice-Chairman of Cognizant, said “the percentage of start-ups funded by the Chennai Angels Network surviving beyond three years wa…
Start Up India
NewsDistill raises $100,000 in seed funding
NewsDistill, a city-based news aggregator app, has raised USD 100,000 in seed funding from a group of investors including Ganesh Narasimhan, Ramana Thumu, and Sudhir Mallem. NewsDistill said in a statement that it is likely to raise another USD 100,000 from other investors in the next couple of m…
Startups shine among India’s Best IT&ITeS cos : Survey
The ‘Great Place To Work Institute’ released its second annual list of India’s Best Companies to work for in IT & ITeS segment. The list was based on an assessment of employee perceptions gauged using the engagement survey and an audit of company practices. Multi National Co…
Health care start-ups see low levels of funding: KPMG
The Indian health care sector is expected to be worth $280 billion by 2020 and has been growing at a compound annual growth rate of 16% since 2011. The health care workforce required in India is likely to double to 7.4 mn by 2022 from 3.6 mn in 2013. India received $288,634 mn aggregate foreign […
Co-working gathers ground as startups look for affordable work spaces
With startups looking at affordable work spaces and central government creating an enabling environment for entrepreneurship, demand for co-working spaces has gone up. “Co-working spaces are popping up across metros as well as tier-II cities, and are helping many startups get flexible worki…
Startups ease process of obtaining education loans
Yeswanth Kumar Muppalla from Vijayawada, a student at North Carolina University, USA, had approached banks for loans and faced rejection multiple times. Getting to know of a startup — GyanDhan — that facilitates education loans through a camp conducted in his undergraduate college, his loan got p…
Garbage apps to solar lamps: Businesses helping poor attract foreign investors
As a new business in India offering environmentally-friendly rubbish disposal, ScrapApp has boomed in the past year while helping address one of the nation’s major problems – garbage. In India, where recycling rubbish is not part of the formal sector, masked workers from social enterprise S…
Gionee to manufacture mobile phones in Haryana
Gionee will now manufacture mobile phones in Haryana. Company has signed a Memorandum of Understanding (MoU) with Haryana government to set up its mobile phones manufacturing hub with an initial investment of Rs 500 crore which, later on, would be increased to Rs 1500 crore. The MoU was signed in…
Start-ups to see turnaround in 1-2 years: Gopalakrishnan
Funding challenges being faced by Indian start-ups is a “temporary phenomenon” and the sector is expected to turnaround in 1-2 years, IT industry veteran Senapathy Gopalakrishnan said. “A significant number of new companies are in the early stage. Funding is lot more challenging…
Sapphire Ventures closes $1 billion fund to back startups
Venture capital firm Sapphire Ventures has closed a $1 billion fund to invest in technology startups, becoming the latest investment firm to join a record-breaking clip of venture fundraising. Sapphire Ventures, which in 2011 spun out of technology firm SAP but still relies on that company as its…