News compilation from startup world :
Can cold-pressed juice startups like RAW Pressery give established beverage brands a run for their money?
For Anuj Rakyan, a freak football injury in early 2013 turned out to be the genesis of a business idea. Doctors asked the former investment banker at Morgan Stanley to increase the intake of leafy vegetables, fruit and protein so that his calf muscles could heal quickly. The best way to do that, thought Rakyan, a vegetarian, would be to blend vegetables and fruit in a Norwalk press, a hydraulic juice presser. Reason: nutrition from fresh fruit and vegetables can be absorbed directly by the bloodstream if it’s consumed as juice. “That was the eureka moment for me,” says Rakyan, who started RAW Pressery, a cold-pressed juice maker, in Mumbai in June 2013.
Road Ministry asks Ola & Uber to use Taxi meter Instead of GPS for Calculation of Fare
A lot of people in India depend on the Cab aggregators like Uber & Ola. The Indian Road Ministry asked “Ola & Uber” to use the Taxi meter instead of the GPS-based system for calculation of the fares. According to the Motor Vehicle Act, A Taxi has to charge their fares according to the meter. This is very opposite to the functioning of Ola and Uber. They measure the distance via GPS and charge accordingly. At one side we say the Indian Government is supporting Startups, but on the other side, some parts of the ministry are acting as a barrier in the daily operations of the startups. Previously, the chief minister, Arvind Kejriwal spoke up against the surge charges in Delhi and got banned Uber in Delhi for few days, However, it can’t ban because a huge number of people living in the cities use such aggregators for their daily commute.
Fortune Just Launched a Startup Edition of Its Tech Newsletter
Happy Sunday, dear readers. No, you’re not hallucinating—this is an extra edition of Data Sheet. Starting today, we’ll be publishing a Sunday edition. In keeping with our weekend tradition, it will have a theme: startups. Yes, startups—those fledgling companies building or using technology to create new products, services, or even categories. Startups continue to fascinate us with their ability to turn an idea into an industry. Startups can mint millionaires overnight and topple incumbents just as quickly. They can captivate an entire generation with a simple social app. Fortune has traditionally focused on covering the world’s largest companies because of their outsized impact on industry. But readers of this newsletter know that today’s startups are tomorrow’s Fortune 500 companies.
Betaout, a Noida startup offering user engagement tools to e-commerce sites
Funding, tax sops not enough to lure start ups: Dassault Systemes India MD
As states get into a rush to showcase their startup mettle, French group Dassault is pitching itself as an aggressive enabler in the space. A top official of Dassault Systemes, a software multinational and part of the aviation-to-IT family, said there have been several layers of talks with a number of states including Chattisgarh, Gujarat, Tamil Nadu, Karnataka, Maharashtra, Rajasthan, Himachal Pradesh and Telangana. Ever since Prime Minister Narendra Modi announced the Startup India policy last Independence Day, states have been working to project themselves as the ultimate destination for entrepreneurs. Start-up companies need access to cutting-edge technology and design platforms to help them succeed, said Chandan Chowdhury, managing director, Dassault Systemes India, in a conversation with Business Standard. “We need to look beyond the traditional ‘ease of doing business’, tax benefits, physical infrastructure, credit guarantee, funding, etc., for start-ups,’’ he said in a recent interaction.
Angel funding for startups in India gets boost; rises to Rs 113.7 cr; Delhi-NCR preferred location
Angel funding for startups seems to have received a little boost of late. According to India Angel Report 2016, released by InnoVen Capital, the venture debt firm, the deal activity by the angel groups grew significantly in FY16, amounting to R113.7 crore across 69 deals, as compared to R70.3 crore across 47 companies last year. The financial year 2015-16 has seen the highest number of deals when compared to the preceding four years. Startups like Healthifyme, YourDost, BlueChilli, AhaTaxis and WhatsonRent are among those who raised angel funding in FY 16. According to the report, demographically, Delhi-NCR had emerged as the preferred destination for entrepreneurs, attracting 36% of angel deals, followed by Bengaluru 20% and Mumbai 10%. Interestingly, one fourth of the all the startups in the sample had at least one female co-founder. Chennai seems to have attracted a good number of startup funding in FY14 and FY15 with a share of 21% and 18% respectively. But in FY16 it saw only 5% of the deals coming.
Zone Startups India Announces Equivalent of Rs 60 Lakhs Seed Funding at a Grand Demo Day of “empoWer”, Accelerator for Women Entrepreneurs
In April 2016, Zone Startups India announced “empoWer” – India’s first technology accelerator program for women entrepreneurs, in partnership with Department of Science and Technology, Vodafone, Google and Nishith Desai Associates. After multi-city roadshows and an online campaign to attract applications, the program received 181 applications from all over India. Says Ajay Ramasubramaniam “The number of applications exceeded our expectations. More so, the quality of applications was far superior than what we thought would come in. Having to select only 15 female founders from such a pool was a challenge but, it was a good challenge to have. The process validated our hypotheses of the need to have a program such as empoWer. A majority of the founders that applied felt that a structured program that offered a strong peer network, industry connects and access to mentors is what they were lacking”. During the 6-week program, the 15 founders got to interact with over 40 mentors, including industry leaders and subject matter experts; in addition to a few industry visits, such as a meeting with the Group CTO Office at Tata Sons. Zone Startups India hosted the first empoWer accelerator demo day on 29th July, the demo day was hosted at the BSE International Convention Centre, and attended by close to 150 guests, which included the investor community and large corporates.