A compilation of important news from the startup world:
IT bigwigs, startups spar over software patents
Battle lines are drawn in the technology industry over software patents as the bigwigs and startups spar over allowing patenting of software. At a government-organised meeting this week, a war of words erupted between India’s services-focused traditional IT industry and product software startups, both of whom have concerns about the rules. While startups said allowing any kind of patents would force litigation and licence costs on them, the IT industry and multinational technology com ..
Michael and Susan Dell Foundation earmarks $50 million for Indian startups
The Michael and Susan Dell Foundation (MSDF), one the world’s biggest philanthropic organisations, and an active impact investor in India, has earmarked an additional $50 million (about Rs 333 crore) towards investments in the country over the next three years. The amount, which will be primarily used towards making direct investments in early-stage ventures, will be in addition to the impact investor’s existing vehicles, which includes its Delaware-registered, proprietary seed-stage f ..
How to Establish a Startup in India
A host of incentives have been unveiled by the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) government that seek to promote the growth of startups in India. Economic goals are at the core of the government’s reforms, which include ease of doing business, job creation, promotion of skill development, and entrepreneurship. Towards this a national policy framework was launched in February 2016 called the Startup India Action Plan.
Book review: An inside view of Indian startups
Young Kashyap Deorah graduated from IIT Bombay as recently as 2000 and moved to Silicon Valley. Inspired by Russian capitalist Yuri Milner whose fund DST Global created history by investing US$ 10 billion in Facebook, he dared to dream big. DST got involved deeper in Silicon Valley history when Facebook bought Whatsapp for $ 19 billion, the world’s largest tech acquisition yet. Dazzled Deorah’s ambitions were stoked. He began tracking the birth, growth, success and failure stories of “unicorns”. In hyper-fund jargon a unicorn is a privately-held billion dollar company. These are not location centric; business is where money is.
Five Indian start-ups using bots in different ways
It is safe to say that bots, software programs that are used to automate tasks, are the flavour of the season. Even, the zeitgeist, if you will. Facebook opened up its Messenger platform with 900 million users for bots. Messaging platform Slack, the darling of the enterprise start-up world, announced an $80 million fund for start-ups developing bots on its platform. Kik Messenger and Telegram, two other messaging platforms too opened up for bots. Although bots have been around for a while in some form or the other, there are two reasons why chat bots, bots that can emulate human conversations, have come to the fore right now.
Swiggy clocks 1 million orders in April
Online food ordering platform Swiggy says it clocked 1 million orders in April, a milestone it achieved for the first time since it started operations in 2014. This may also be the highest for any food delivery venture in India. With 5,500 restaurants in its network, Swiggy got an average of 35,500 orders per day in April, a growth of 25% over the previous month.
Grocery app MovinCart shuts down
Hyperlocal grocery delivery app MovinCart has closed down its operations, with two of its three founders setting up a logistics-tech startup, a person close to the development, who did not want to be identified, told Techcircle.in. According to the person, the hyperlocal delivery space had become too crowded and was facing challenging unit economics. Therefore, MovinCart had decided to exit the space, he said.