News compilations from startup world :
Indian startups need level-playing field after Uber’s Chinese unit sold to Didi
Chuxing Uber’s decision to throw in the towel in China has reignited the debate in India on whether policymakers here should be creating level-playing fields for domestic businesses battling moneyed foreign competitors. The sale of Uber’s Chinese unit to Beijing-headquartered taxi aggregator Didi Chuxing is the latest example of US consumer internet majors failing to succeed in the world’s second largest economy, undone by China’s protectionist regulatory policies. Amazon, the world’s largest online retailer, last year opted to sell on Chinese internet giant Alibaba. That’s in contrast to their fortunes in India, where Uber, the world’s most-valuable startup, and Amazon have been able to establish a dominant presence by pouring in billions of dollars to grab market share, unsettling their largest domestic rivals.
Three start-ups from empoWer receive seed funding from govt and Vodafone
Bid to encourage more women entrepreneurs, thanks to launch of Stand Up India scheme, offering loans between Rs10 lakhs and Rs1 crore at easy interest rates. Three start-ups from empoWer, a Zone Startups India accelerator for women entrepreneurs, have received equity-free seed funding from the Department of Science and Technology and Vodafone. Saral Design Solutions Pvt Ltd, which makes sanitary napkins, received Rs.10 lakhs and Shubhpuja Services Pvt Ltd, an online marketplace that provides Hindu religious services, received Rs.500,000 from the Department of Science and Technology. Another start-up, MyKavach Wearable Technology Pvt Ltd-operated DAZL, which makes women safety devices such as fashion accessories, received Rs.700,000 from Vodafone. The Department of Science and Technology and Vodafone did not take stakes in these companies.
These four Indian startups were sold for a song in 2016
Lower valuations caused by a funding crunch have brought barbarians into the gates of some large Indian startups, to paraphrase the title of a famous business book. Since late last year, some well-known startups have sold for prices that were lower than what their investors had put into these companies or what the companies were worth in their last funding rounds. While not quite as high-stakes as the bidding war in the 1980s for tobacco company RJR Nabisco (a story chronicled in the book, Barbarians at the Gate), the sale of Jabong, an online fashion retailer, last week was packed with drama: the suitors included two online shopping stores that are arch-rivals and some of India’s largest offline retailers. In this case, however, the presence of several bidders didn’t push up Jabong’s price: the final sale value of $70 million capped one of the most precipitous declines of a once high-flying startup.
4 Aerospace Startups That Will Take You ‘To Infinity And Beyond’
Elon Musk’s SpaceX has set a new horizon of expectations for the space industry since its inception in 2010. The young billionaire wants to make space available to everyone, and send people to Mars and moon. The new space race has been taken over by the startup world led by entrepreneurs such as Elon Musk and Jeff Bezos. India gained much attention globally with the launch of ISRO’s Mars mission called Mangalyaan costing Rs 450 crore, one-tenth of how much NASA spent on its 2013 Maven explorer that it sent to the planet. This has been a major source of inspiration for entrepreneurs to finally have a little space of their own and get a little closer to the mystery that lies beyond Earth. To study the many stars, planets and moons in galaxies beyond the Milky Way. It’s a collective effort from and for humanity to understand our roots a little better. Who hasn’t dreamt of exploring space in your own Millennium Falcon and these aerospace entrepreneurs are striving to make these come true, removing the dominance government had over this industry. From building rockets and satellite to lunar rovers, these startups have mastered how to make these world class spacecraft at minimal costs. Let’s see some Indian Space startups taking India ‘to infinity and beyond’.
How telephony works for startups in India
Knowlarity, to briefly introduce is the leading player in the Cloud Telephony in India and among the top players across the Asia. Trusted by more than 15,000 businesses across 65+ countries, Knowlarity is the leading provider of cloud telephony in emerging markets and provides the most comprehensive communication tools including cloud telephony, IVR, fax and conferencing facilities for SMEs, enterprise customers and individuals. The company makes business telephony reliable and intelligent by providing a suite of hosted products that help businesses to improve their productivity. Knowlarity’s flagship products, SuperReceptionist and SmartIVR, can process over a million calls an hour. The company was incorporated in 2009 and has grown from a garage startup to a 500+ employee company. Knowlarity is backed by Sequoia Capital and Mayfield. Knowlarity is headquartered in Singapore and has offices in Gurgaon, Mumbai and Bangalore. Knowlarity plans to be a billion dollar organization that will serve millions of SMEs in emerging markets in the next 5 years.
Curtain rises on ET Startup Awards with shortlist
The countdown to choose the winners of India’s biggest and best startup awards has begun. On Saturday, August 6, a jury consisting of the who’s who of the startup world will meet in Bengaluru to choose winners from a list of high achievers. From today until Friday, we will unveil the contenders who have made it to the shortlist of five from which the high-power jury will choose the winners of the second edition of The Economic Times Startup Awards.