A compilation of important news from the startup world:
ICICI Bank says open to investing in fin tech startups in India
Country’s largest private sector lender ICICI Bank is open to investing in startups in the financial technology space even though it has not earmarked a dedicated corpus for the investments. ICICI Bank is interested in technologies like big data and artificial intelligence, which will help it serve customers better. The bank today declared winners of a mobile application developing contest and said over 2,000 entries were received…..
Target India kickstarts fourth batch of start-up accelerator programme
US retailer Target Corporation announced its fourth batch of startups for its accelerator programme through which it mentors start-ups that work in tandem with the retail space relevant to Target’s business. While the earlier batches focused on themes around retail including, personalisation search and omnichannel evolution, the scope of programme for the fourth batch is broadened to cover the growing wellness sector along with the internet of things (IoT) and technology space…..
Bangalore, Mumbai, NCR tops office locations for startups in India: CBRE report
According to the report, nearly 65% of startups in India are based out of these top three cities. In fact, Bangalore has been ranked 15th in the ‘Global Startup Ecosystem Ranking’ for its innovative culture, diversity of its startups and strong interest from venture capital funds. This is followed by Hyderabad, Chennai, Pune, Jaipur and Ahmedabad….
7 Learnings from India’s Top Startups
‘Startup‘- it’s not a word anymore. It’s a phenomenon now. Government recent impetus and our Prime Minister’s much glorified Startup India campaign has to a certain degree, uprooted the stigmas of starting up. However, reflecting upon the startup success stories of the country, we realize, the stories are not of excellence or brilliance or revolutionary ideas but it’s a story of resilience, perseverance and breaking the shackles….
Know what startups are doing to ride the IPL wave this year
IPL has helped challenge the way cricketing events have been sponsored traditionally. For long, the romance between cricket and branding was dominated by the colas, the sporting goods makers, mobile phones, and the odd cement manufacturer. But with all the funding pouring into startups in recent times, startups want a piece of the action too…..
Have start-ups benefited from expensive Silicon Valley recruits?
For India’s top start-ups, recruiting from California’s Silicon Valley is like a badge of honour. If an Indian unicorn—a start-up valued at $1 billion or more—can attract senior technology and product talent from companies such as Google Inc., it means the start-up has truly arrived in the big league. However, the jury is still out on whether spending millions of dollars on recruiting talent from the Valley has worked out well for Indian start-ups….
Salaries for fresh hires at startups like Uber, Ola fall by 50-60%
Surge pricing at startups has ended — for now at least. As investors put pressure on companies to save costs and improve cash flow, new hires in turn are getting offers that aren’t as spectacular as they used to be till some months ago. Compensation packages have been slashed by half or more while recruitment is also down by the same extent — 50-60% — since the beginning of the year….
RBL Bank opens Bengaluru branch exclusively for start-ups
To tap the banking needs of the the burgeoning start-up sector in India, RBL Bank is launching branches that will cater exclusively to these such firms. It is the first such branch, the bank has setup in Bengaluru, the unofficial start-up capital of India.Through this branch, RBL will offer start-ups banking services around foreign exchange, remittances and cash management. It will also facilitate registration, legal and tax formalities through verified partners, brought together as part of its Start-up Club programme…..
LinkedIn Twitterati will land a better job at startups
As the recruitment process transforms from being a sourcing game to more of an engagement business, a bunch of startups are doing away with the resume culture. At these companies, where CVs are not welcome, digital footprint of a candidate takes the place of the first touchpoint between the recruiter and the recruit…..
Why Maverick, Sequoia India injected $15m in e-pharmacy startup
The red carpet has more or less been rolled out for e-pharmacy startups in India. In many countries, pharmaceutical companies and governments are constantly at loggerheads over distribution rights of medicine. In the United States, for example, startups need to receive a specific “verified internet pharmacy practices site” license in order to operate. That’s not the case in India yet, and with the size and scale of the country, e-pharmacy startups are met with green pastures…..
Groupon got India wrong, but this guy’s doing it right
The story’s got quite a few twists and turns. Groupon entered India with high hopes when it bought discount deals startup SoSasta. Sasta means “cheap” in Hindi, so the name didn’t do much to change India’s perceptions about this kind of online shopping. Presumably, the startup wasn’t making much money and soon SoSasta was rebranded as Crazeal, an amalgamation of “crazy” and “deal”. Not much more enticing…..
Go-Jek goes from two to four wheels with launch of Uber rival
Indonesia’s motorcycle ride-hailing app Go-Jek today rolled out an app update – but it’s no ordinary update. Apart from a drastic change in the interface, the startup has rolled out a new service called Go-Car, confirming rumors of its foray into a new category. Go-Car, similar to Uber and GrabCar, taps private car drivers or owners. It’s an addition to Go-Jek’s rapidly expanding range of services, which also covers food and parcel delivery. The startup operates only in Indonesia. In October last year, it secured funding from Sequoia Capital….
With $4.4b invested in 336 deals in March, Asia sees series A boom
The number of deals for tech investments in Asia continue to drop compared to the same month in the previous year, according to the Tech in Asia database. The same trend was seen back in February. Does this mean “winter” has actually hit the region yet? It is too soon to conclude, but the total amount of money invested in the region has increased in the past year. This means the deal size has risen. The data for March shows that the market is maturing with more follow-up funding raised. In March last year, only US$671 million was ploughed into the region’s startups at series A stage, whereas this year it rose to US$2.3 billion. Most of that went to Chinese startups….
Lufthansa Launches Startup Expo In Partnership With The Indus Entrepreneurs
Lufthansa in partnership with The Indus Entrepreneurs (TiE) is organizing the Startup Expo on April 23, 2016 at The Epicentre, Gurugram. The Startup Expo will be the largest initiative of its kind to bring together startups, mentors, investors, industry partners and government supported by a corporate in partnership with The Indus Entrepreneurs (TiE )an entrepreneurial organization…..
Netflix Faces Trouble In Southeast Asia Market
Netflix Inc. is running at a massive speed after it implemented its global expansion plan. The company offers its services in 190 countries to more than 70 million customers. It is constantly investing big amount money on its original content and overall content. Now after being a truly global TV network, it is planning to bring in and produce content for customers all across the world. For instance, before making its way in the Indian market, Netflix decided to turn a crime gangster movie into a TV series for the Indian viewers…..
4YFN is expanding to Asia with Mobile World Congress Shanghai
After a record-breaking 3rd edition, 4YFN is expanding its boundaries with a new adventure, now in Asia at the Mobile World Congress Shanghai from June 29th to July 1st, the premier event for mobile industry leaders in Asia. Situated within the heart of Mobile World Congress Shanghai, the 4YFN area will house the latest startup innovations, networking areas, workshops, investor programes and a stage with leading tech speakers and the hottest startups pitching over the three day event…..
Event Tech Startups Aim for Attention at IMEX Frankfurt
IMEX, with two events in Germany and Las Vegas every year, is the world’s largest trade show for the meetings and conventions industry. The concept behind Eventbaxx replaces the traditional conference gift bag full of event sponsor freebies with a digital gift bag. The platform allows sponsors and event planners to customize their swag offerings to the individual attendee, and it provides detailed metrics on engagement…..
New tech startups hub ‘La French Tech Philippines’ launched
The France-based La French Tech group has launched its latest tech startup hub in Manila – La French Tech Philippines, which is meant to drive growth of technopreneurship in the country. An initiative launched by the French government in 2013, La French Tech is a tech startup ecosystem coordinated by Business France. It has developed startup hubs in San Francisco, London, Barcelona, San Paulo, New York, Hong Kong, Tokyo, Cape Town, and Tel Aviv…..
Michael & Susan Dell Foundation backs ed-tech startup Oliveboard
Bangalore-based Oliveboard Comptech Pvt Ltd, which operates online test preparation platform Oliveboard, has raised an undisclosed amount in funding from India Educational Investment Fund (IEIF), an early stage impact investment fund established by Michael & Susan Dell Foundation. The funds will be utilised for marketing initiatives, building content and strengthening its mobile technology, Abhishek Patil, CEO, Oliveboard said in a statement…..
White Unicorn Ventures plans $20-million fund, early-stage realty tech startups in focus
White Unicorn Ventures plans to raise a $20-million fund to invest in earlystage startups and spend up to $5 million by the end of 2016, five times as much as it did last year. The company comprises four associates and 20 individual investors. However, for the $20-million fund, it plans to raise money from independent institutions instead of high networth individuals. Chokhani said the company’s plans to spend $5 million this year are sector agnostic, involving “anything from transportation and travel to B2B marketplaces”…..