Friday, April 26

Tag: startups

Ratan Tata Invested in Medical Startup MUrgency Inc
17May By NitishNo Comments
FUNDING

Ratan Tata Invested in Medical Startup MUrgency Inc

Tata Sons Chairman Emeritus has invested in San Francisco-based medical emergency response MUrgency Inc. Financial details of the deal were not disclosed. "He (Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Mr Tata's investment in MUrgency will help attract leading talent to the company and major partnerships beyond India," MUrgency Inc Fonder Shaffi Mather said in a statement. Founded in 2014 in Silicon Valley and incubated out of Stanford ChangeLabs, MUrgency recently received investments from Kris Gopalakrishnan and S D Shibulal led Axilor Ventures. The company launched its service in Tricity area in Punjab on February 16, with a responder network of 36 hospital emergency rooms, over 40 ambulances and more than 350 me...
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SIDBI Sanctioned Rs 1,000 crore to 30 Venture Funds
24Apr By AnkitaNo Comments
News

SIDBI Sanctioned Rs 1,000 crore to 30 Venture Funds

The Small Industries Development Bank of India (SIDBI) has sanctioned Rs Rs 1,416 crore crore to 30 venture funds through the government-financed India Aspiration Fund, which seeks to support startups in their early stages. Earlier this month, SIDBI signed a memorandum of understanding with Life Insurance Corporation of India under which the government-owned company would contribute 10% of the fund as a co-investor. "We got many proposals from funds, out of which 35 proposals were recommended by the VCIC to our executive committee. We have already approved 30 of the proposals worth Rs 1,000 crore," Shivaji said. The proposals are from venture funds such as IvyCap Ventures, Blume Ventures and Exfinity Venture Partners. SIDBI will provide these funds about 15% to 20% of their total ...
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Defence Ministry of India To Promote Startups: Manohar Parrikar
9Apr By Press Trust of IndiaNo Comments
INDIA

Defence Ministry of India To Promote Startups: Manohar Parrikar

Defence Minister Manohar Parrikar on Friday said his ministry was in the process of formulating a special programme to promote startups. "The defence ministry will start a programme to promote startups. The ministry has never done something like this before but is going out of the way into (doing) something different," Parrikar said at the inauguration of a business incubation centre here. Parrikar, a former Goa chief minister, said he was keen on offering defence ministry-related research and development projects to the coastal state. "There is an open offer to the Goa government... in another month or two, we can work out a mechanism to ensure that the talent among the Goans doesn't go waste," the minister said. Lamenting the brain drain from Goa, Parrikar said: "All ...
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Tech Mahindra To Launch ‘Startup Garage’ For Its In-House Entrepreneurs
6Mar By Press Trust of IndiaNo Comments
News

Tech Mahindra To Launch ‘Startup Garage’ For Its In-House Entrepreneurs

MUMBAI: In a first for a corporate entity, Tech Mahindra is all set to create a 'startup garage' for its in-house entrepreneurs. "Within our set-up, we have a number of companies that is working already. But we are about to launch a garage soon ...ours will be the first corporate garage for the startups," TechM chief strategy officer and head of the 'growth factories' initiative Jagdish Mitra told PTI recently. At present, as many as 15 businesses have emerged from among the over 1.05 lakh TechM employees and they work as part of the 'growth factories' set-up, Mitra said. He said all the businesses which are getting incubated will be physically housed together in the garage and doing so will give them independence to operate. Mentoring the businesses will also be ea...
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Indian Government To Launch Web Portal For Startups By Next Week
4Mar By Press Trust of IndiaNo Comments
INDIA

Indian Government To Launch Web Portal For Startups By Next Week

NEW DELHI: Government will launch a portal for startups by next week and begin the registration process with a view to encourage budding entrepreneurs and promote ease of doing business, a top official said today. Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said that 'Start-up India' is an important initiative and steps have already been taken to implement the action plan announced by the government. Recently, DIPP has issued the definition of startups and is also making it easier for them to file intellectual property rights (IPR), he said. "In another week's time, we are going to start the startup portal and the process of registration of also," he said here at a Ficci function. "We are also working with state governments to ensur...
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Bangalore Based Bhive Workspace Raised Angel Funding
5Feb By NitishNo Comments
FUNDING

Bangalore Based Bhive Workspace Raised Angel Funding

Bengaluru-based Coworking Space BHIVE WORKSPACE  has raised an undisclosed angel round of funding from investors including Raghunandan of TaxiForSure, Arihant Patni of Hive Technologies, Rajesh Rai (Venture Capitalist & Co-Founder, Venturesity), Arun Narayan from UK India Business Council, Sanjay Mirchandani (Owner, Mirchandani Group) and others. BHIVE started out as a provider of accessible and quality plug ‘n’ play workspace in Bangalore, a year ago. Co-working spaces are essential to developing a growing and vibrant entrepreneurial ecosystem in India. Finding the right workspace, maintenance of office space, bill payments and operations, housekeeping and security, procuring food and beverages etc. are a few such distractions. Setting up the perfect backdrop to fix this issue or ...
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2Feb By AnkitaNo Comments
FUNDING

Sequoia raised Largest VC Fund Approx $920 Million to Invest in Indian Startups

Sequoia Capital, Silicon Valley's top-tier VC fund closed fresh $920 million fund. Funds will largely invests in Indian startups. The fresh funds takes Sequoia's total investment assets to more than $3 billion in India. This is the biggest raise by any VC fund for India-specific investments, cementing Sequoia's leadership position in the domestic early-to-growth stage investing space. TOI had reported on September 8 last year about Sequoia Capital, a backer of companies like Just Dial, Freecharge, Zomato, Oyo Rooms, among others, being on the road to raise its fifth India fund. At the time, Sequoia was looking to shore up $800 million. Sequoia, which had backed tech giants like Google and Apple in their very early stages, will see the new fund invest in Indian and south-east Asian...
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Indian Govt Plans to Develop Northeast as Startup Destination
31Jan By Press Trust of IndiaNo Comments
News

Indian Govt Plans to Develop Northeast as Startup Destination

Northeast is an emerging destination for new ‘Startups’ from across the country and plans are there to provide ‘venture’ fund for new entrepreneurs, Union Minister Jitendra Singh has said. Inaugurating the ‘Youth Connect’ programme organised by Dr Bhimrao Ambedkar College of University of Delhi, Singh said under the ‘Startup India, Standup India’ plan announced by Prime Minister Narendra Modi, there are provisions of two years of tax-free facility and three months’ exit period. “These are unique features of this plan and on behalf of the Ministry of DoNER, an added incentive is being contemplated in the form of a ‘venture’ fund for new entrepreneurs so as to provide them relief from financial liabilities,” he said. The Minister for Development of North Eastern Region (DoNER) said th...
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Lift regulations on startups, help them flourish: Kiran Mazumdar Shaw
26Jan By Press Trust of IndiaNo Comments
Entrepreneurs Talk

Lift regulations on startups, help them flourish: Kiran Mazumdar Shaw

Jaipur- Biocon chairman Kiran Mazumdar-Shaw has called for relaxing rules for startups to help them flourish, stating that there are several “hidden regulations” in the government’s new policy. “Even though the policy sounds very good, there are a lot of hidden regulations in that,” she said at a session titled ‘Beyond Jugaad, Making India Work’, during the Jaipur Literature Festival. She was in conversation with FICCI secretary general A Didar Singh, former SEBI chairman D R Mehta, Ford India Chief Nigel Harris and author John Elliot. Shaw said that although Make in India was a good strategy, the more important concern was to concentrate on finding manufacturing opportunities of the future. Mazumdar-Shaw also stressed for a reboot on the way different areas like manufact...
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Govt to announce friendly tax regime for start-ups in Budget: Arun Jaitely
16Jan By AnkitaNo Comments
INDIA

Govt to announce friendly tax regime for start-ups in Budget: Arun Jaitely

“ Government in the Budget next month will announce a friendly tax regime that will encourage setting up of startups in the country ” Government in the Budget next month will announce a friendly tax regime that will encourage setting up of startups in the country, Finance Minister Arun Jaitley said today. "We have already worked upon an entrepreneur-friendly taxation regime. There are some steps, which can be taken up by notifications, which would be taken forthwith. Others require legislative provisions, which can only come as part of the Finance Bill when Budget is presented in order to create a friendly taxation regime for startups," he said at the Start Up India conference here. Recognising the need to encourage startups, a fund was suggested in the Budget last year, he...
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SBI Opens Dedicated Branch For Startups “SBI InCube”
14Jan By Press Trust of IndiaNo Comments
INDIA

SBI Opens Dedicated Branch For Startups “SBI InCube”

State Bank of India became the first public sector lender to launch wealth management service, a space dominated by private and foreign players, to cater to fast-growing affluent segment of the country. The bank also inaugurated a dedicated branch for startups which will provide advisory services to the budding entrepreneurs. “Introducing wealth management has been one of the bank’s top strategic priorities, as we have a number of HNI customers in the bank and potentially many more whose banking needs are more sophisticated and who require a highly specialised service delivery mechanism,” SBI chairman Arundhati Bhattacharya said. The wealth management offering ‘SBI Exclusif’ and the startup branch – ‘SBI InCube’ were rolled out in Bengaluru. ‘SBI Exclusif’ will offer many fir...
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