The Centre’s ambitious Startup India initiative has managed to disburse only Rs 5.66 crore of the promised Rs 10,000 crore a year after its launch. On February 8, in its response to the newspaper’s RTI queries, the Small Industrial Development Bank of India said it had created a corpus of only Rs…
Start Up India
Is ‘Google Tax’ making start-ups a tax scapegoat ?
Looking factually among the next breakout economies, India is the largest pie of the future bread and butter to several large digital ad networks – the Googles and Facebooks of the world – thanks to its more than 277 million Internet users, second only to China and ahead of the US. In fact, it al…
British Indians pool funds for Indian start-ups, open new accelerator in Bangalore
From billionaire steel magnate Lakshmi Mittal to London cabbies, England teems with people from its former colony, India. They bagged nearly 60 percent of British work visas last year and comprise the UK’s biggest overseas-born population. One of them is Atal Malviya, who got a computer science d…
GSF makes fresh investments in 5 start-ups
Gurgaon-based startup accelerator Global Super Angels Forum (GSF) has made fresh investments in five startups which constitute its fifth batch for its accelerator programme. The five startups are, bot-assistant player YellowAnt, Artificial Intelligence (AI)-driven chatbot solution HeyMojo, deep-l…
Oyo in talks with SoftBank for upto $500 mn raise, eyes unicorn club
Mumbai: Budget hotel aggregator Oyo Rooms is in talks with Japan’s SoftBank -an existing investor -for a $500million round of financing, which is expected to catapult it into the so-called unicorn club, comprising tech startups that are valued at $1 billion or more, according to three peopl…
Ratan Tata, Hrithik Roshan in talks to fund health start-up, CureFit
Bengaluru: Ratan Tata and Bollywood actor Hrithik Roshan are in talks to invest in CureFit, a healthcare startup founded by former Flipkart executives. The year-old entity started by Mukesh Bansal and Ankit Nagori has so far raised about $20 million and counts venture capital firms Kalaari Capita…
Mahindra Electric looks to start-ups for 3x growth in 2017
Mumbai: One of the few manufacturers of electric vehicles in India, Mahindra Electric is targeting a 2-3 times growth in 2017 and is knocking on startups’ doors to achieve the same. The hybrid vehicle maker launched four variants in 2016 — e2o plus, eVerito, eSupro Van in cargo and passenger vers…
2017 to be a better year for Indian start-ups: Qualcomm Ventures
Qualcomm Ventures, the venture investment arm of US-based chip maker Qualcomm Inc which has a USD 150 million India-focused fund, expects 2017 to be a better year for the startup ecosystem, especially early stage companies. “2016 was the hardest year, and that is behind us. 2017 will be a better …
Ficci calls to replicate London model to boost start-ups
Hyderabad: Many of the policies responsible for establishing the UK and London in particular as a startup hub have happened in the last 5-6 years. London accounted for one seventh of the UK investment into startups in 2010, a figure that has since increased to two-thirds. To establish such an eco…
Get My Parking raises $1.1 mn from IAN, others
Cloud-based mobile parking technology startup Get My Parking has raised $1.1 million (Rs 7.35 crore) in pre-Series A funding from Indian Angel Network (IAN), venture firm Beenext, The Chennai Angels, and Hero Corporate Services Chairman Sunil Munjal. The startup will invest the fresh funds to dep…