The government is considering encouraging start ups to produce electronic voting machines and paper trail equipment using latest technology provided the security aspect is cleared by the Election Commission. “There is a considered view in the government to encourage start ups to produce EVM…
Tag: startups.
Government to involve states to push startups
In order to give impetus to startups, the government will hold detailed discussions here with states and other stakeholders on July 23. The main aim of the day-long function is to share knowledge and best practices being followed by few states on promoting budding entrepreneurs, an official said.…
Askme Grocery foraying into gourmet foods to pep up sales
Online grocery delivery firm AskMe Grocery is foraying into high-margin gourmet foods category, a move aimed at arresting dipping average orders on its platform. The company expects gourmet foods to account for about 10 per cent of its targeted Rs 1,800 crore GMV (worth of merchandise to be sold …
Retail consumer-focused online start-ups from India now expanding overseas
The retail consumer-focused online start-up companies from India are now expanding overseas and getting into markets where similar opportunities exist. The online companies from healthcare, financial services and education sectors after establishing their presence in India are now expanding into …
DIPP to organise startup festival in Hyderabad in September
The Commerce and Industry Ministry will organise a ‘Startup Fest’ in Hyderabad in September, with a view to showcase innovation and provide a collaboration platform. The Department of Industrial Policy and Promotion (DIPP) has requested Prime Minister Narendra Modi to inaugurate the p…
Axis Bank unveils ‘Thought Factory’ in Bengaluru for startups
Axis Bank has announced the launch of ‘Thought Factory’, an innovation lab facility aimed at accelerating the development of innovative technology solutions, for the banking sector. The innovation hub located in Bengaluru has an in-house innovation team and an accelerator program. The…
‘Startup India’ to be revamped to woo more participants
Five months after its launch by Prime Minister Narendra Modi, the government’s Startup India initiative is due for an overhaul to improve participation. The government recently held a review after fewer-than expected startups applied for recognition and only one made the final cut for the i…
Private equity funding into startups dips 25% in 2016; Goldman Sachs
Private equity funding has declined by 25% year-on-year from $2.5 billion in 2015 to $1.9 billion in 2016, said a recent report by a global research firm, Goldman Sachs. While the number of deals has picked up by 52% year-on-year in 2016, the average deal size has declined by 51% to $4.3 million.…
Policy changes to bring more startups in medium industry
The government is considering policy changes to broaden and energise one of PM Narendra Modi’s pet initiatives, Startup India, to include a bigger number of startups under the ‘medium industry’ category that would be eligible for public procurement incentive and preferential ben…
U2opia Mobile to invest over $3 mn in startups
Telecom solutions provider U2opia Mobile will invest $3 million (around Rs 20 crore) over the next three years to fund startups working on scalable mobile technology. Under its Catapult programme, in the first year, U2opia will invest in five-six companies that have about 2-4 members. The program…