Tuesday, May 28

Tag: Nasscom

India needs 2 Million Cloud Engineers by 2025
INDIA

India needs 2 Million Cloud Engineers by 2025

India has the potential to become the world's second-largest cloud talent hub with the combined effort of government bodies, education and skilling organizations, and technology providers, IT industry body Nasscom said on Monday. Nasscom, in association with Draup, said in a report that India currently ranks third globally with an installed talent pool of 608,000 (FY2021) cloud professionals. "By 2025, India would have an estimated 1.4-1.5 million cloud professionals (baseline growth). However, with an estimated demand for over 2 million professionals by 2025, India could reach 1.7-1.8 million cloud talent pool with a fairly aggressive skilling roadmap," the report titled 'Cloud Skills: Powering India's Digital DNA' said. Tata Consultancy Services (TCS) and Accenture were strateg...
Apollo Hospitals Setting up $100 Million Seedfund For Healthcare Startups
FUNDING

Apollo Hospitals Setting up $100 Million Seedfund For Healthcare Startups

Apollo Hospitals announced a seed fund for healthcare startups in India. The announcement came at the 15th edition of Bio Asia 2018 – Asia’s biggest life sciences and healthcare conference, held in Hyderabad, Telangana. Sangita Reddy, Joint Managing Director of Apollo Hospitals in an interview with Telangana today said, "The total Seedfund investment size will be from $50 million to $100 million. Initially we will invest a token amount from $5 million to $10 million. We are running the accelerator part of the activity. A range of startups are approaching us which are in Healthtech and science-tech.” One of India’s largest private hospital chains, Apollo Hospitals is first to introduce robotic surgery in India. Apollo Hospitals will sign a formal memorandum of understanding with IB...
Nasscom Expresses Concern Over Fall in Angel, Series A Funding into Indian Startups
News

Nasscom Expresses Concern Over Fall in Angel, Series A Funding into Indian Startups

Nasscom, the software industry lobby has once again expressed concern over the falling funding into indian startups and called for added focus to galvanise the entrepreneurial ecosystem. The National Association of Software and Services Companies (Nasscom) had last November shared its concern over the taxation issues in the startup scene, which led to a steep 50 per cent fall in angel investments and a significant decline in series A funding. "While angel investments are the critical first piece that gets a startup going, series A funding is the one where the angel investors really make their exits and make money. Thats what incentivises them to continue their investments," Nasscom president R Chandrashekhar said. "We had pointed that out and felt that corrective measures are needed. ...
2018 Will Be A Better Year For Indian IT: Report
ANALYSIS

2018 Will Be A Better Year For Indian IT: Report

With the US economy doing well, Indian IT companies can look forward to a better year in 2018 on the back of growing tech spend and demand from clients, according to senior industry figures. Noting that the largest market for Indian IT companies is the US, former CFO of Infosys V Balakrishnan said their ability to grab growth opportunities is critical. "The US economy is doing extremely well. I think they are still growing 2-2.5 per cent, good growth for that economy," he told PTI. "If you look at the Gartner report, they talked about overall IT spend going up by 4-4.5 per cent this year. I think there is growth. The ability of the company to take on growth is critical. I think growth opportunities are there," added Balakrishnan. He said if the world's largest economy is doing well...
Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings
FUNDING

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

One of India's unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with existing and another investor to raise additional $1 billion, thus rounding off what may turn out to be a $2 billion funding round. After a billion scale funding received by Flipkart and Paytm, Ola is the third one to receive such massive funding this year. Flipkart leads them by having raised at least $2.8 billion  in two separate tranches from SoftBank, Tencent, eBay and Microsoft, followed by Paytm which raised $1.4 billion from SoftBank....
Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding
FUNDING

Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding

Artificial Intelligence and deep learning startup ParallelDots has recently raised $1.4 million (around Rs 9.1 crore) in a fresh round of funding from its existing investor Multipoint Capital LLC. Delaware, US and Gurgaon, India based AI startup was founded in January, 2014 by Angam Parashar along with Ankit Narayan Singh and Muktabh Mayank and incubated at TLabs, a startup incubator managed by Times Internet. The newly infused capital will be use by the startup to increase the headcount of its technology team, as well as to support its expanding global footprint. The money will also be spent on general operational expenses. ALSO READ Google Uncovered Russia-Backed Ads on YouTube, Gmail : Source     ParallelDots earlier raised a funding of $600K from Multipoint...
Indian Unicorn Startups To Launch Nasscom Like Lobby Group- Indiatech.org
INDIA

Indian Unicorn Startups To Launch Nasscom Like Lobby Group- Indiatech.org

India’s Unicorn Internet startups Flipkart and Ola are grouping together with peers including travel portal MakeMyTrip to launch a Nasscom like industry body that will be representing their interests and aim to deal with deep pocketed rivals, and sustain their existence in one of the world’s most prized markets for digital commerce. The lobby group will be called Indiatech.org — and will be led by Sachin Bansal, as its President and Chairman; appointing a former IAS officer as its CEO, said four people aware of the matter. The former bureaucrat is expected to join in 2-3 weeks. The other founding members include online classifieds company Quikr and messaging platform Hike. “The group wants to become the Nasscom for the startup space,” said two of the people cited above. The formati...
Indian IT Industry Faces Twin Challenges of Trump, Automation
News

Indian IT Industry Faces Twin Challenges of Trump, Automation

Automation and the new US administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market. But senior executives from the USD 150 billion industry, which rose to prominence at the turn of the century by helping Western firms solve the "Y2K" bug, said companies with skilled English-speaking staff and low costs could not be written off yet. The sector, led by Tata Consultancy Services, Infosys Ltd and Wipro Ltd , is lobbying hard as the new US administration under President Donald Trump considers putting in place visa restrictions. The administration may also raise salaries paid to H1-B visa holders, a move that could significant...
For Mukesh Ambani Right Team and Using Investors Money Carefully is a Path To Success
Entrepreneurs Talk

For Mukesh Ambani Right Team and Using Investors Money Carefully is a Path To Success

Reliance Industries chairman Mukesh Ambani, who is betting big on data-driven telecom with his Jio Infocomm, today described the digital play sweeping the world as the fourth industrial revolution and said data is the "new oil". "The foundation of the fourth industrial revolution is connectivity and data. Data is the new natural resource. We are at the beginning of an era where data is the new oil," Ambani said at the opening day of 3-day Nasscom leadership forum here. Salient feature of this revolution is "convergence of the physical biological and digital sciences" and "we are on the verge of an exponential change", he said. Predicting that India will be a key player in this revolution, Ambani said with "our large talent base, we will have a competitive advantage in this era." ...
Soon You Dial ‘14444’ To Raise Your Queries on Digitial Payments
INDIA

Soon You Dial ‘14444’ To Raise Your Queries on Digitial Payments

Nasscom, telecom operators, and NITI Aayog have come together in creating a dedicated helpline 14444 for addressing all queries on digitial payments, as government takes strides to push for more digital transactions post demonetisation. After the fourth meeting of the Committee of Chief Ministers on digital payments, Convenor and Andhra Pradesh Chief Minister Chandrababu Naidu said, plans are afoot to import one million PoS machines to enable cashless payments across India. Briefing the media on the discussions, Naidu also said the Committee of Chief Ministers will present its interim report on digital payments movement to Prime Minister Narendra Modi within a week. "We are planning a sustainable, long-term, policy to attract majority in India to move to digital payments through prov...
Startup Incubator thinQbate Launches with its First Cohort of 6 Emerging Startups
News

Startup Incubator thinQbate Launches with its First Cohort of 6 Emerging Startups

The last year has been a landmark year for startups in India. As per the Nasscom report, India ranks third among global startup ecosystems with more than 4,200 new-age companies. Aimed at supporting this growth, thinQbate, a new thinking incubator launched in Mumbai today. Based on a community and entrepreneur first approach to angel investment and incubation, it hopes to create an ecosystem that will identify, nurture, and leverage on the success of a concept. thinQbate aims to help annual cohorts of fresh ideas and minds thrive by providing a physical space to work in, support from its expert partners and showcasing entrepreneurs based in thinQbate and through events, in-house & external, through the year. Focusing on the importance of providing a favorable ecosystem for the s...