- Startup India’s flaws are beginning to tell
Around this time last year, the Narendra Modi government launched the Startup India, Stand Up India campaign. It announced a slew of measures—simplifying regulations, offering some handholding, a few tax breaks, and a fund-of-funds—to rev up the start-up engine and enable entrepreneurship, technological progress and innovation. Twelve months down the line, however, there has been very little forward movement. Only a handful of start-ups have bought into the plan, while the government is still struggling to get the nuts and bolts in place. Unfortunately, this was to be expected, given the fundamental design flaws in the campaign.
- After losing 2 family members to diabetes, 16-year-old Avni Madhani takes the entrepreneurial plunge to address the disease
Two deaths in the family brought about by diabetes motivated Avni Madhani to better understand the lifestyle disease and its implications for Indian people. During her research, the 16-year-old realised that many people in India do not have a detailed understanding or knowledge on how to overcome the challenges that cause diabetes. She found language, especially, to be a major barrier, as few websites disseminate diabetes-related information in Indian languages. Diet playing a major part in managing diabetes, she also found it worrying that many Indians do not have a reliable database of the nutritional values of different Indian dishes.
- Gurgaon Based Wydr Raises Series A Funding from Stellaris, Bessemer and Jungle Ventures
Gurgaon-based Wydr, a mobile B2B marketplace, has successfully raised second round of funding from Bessemer Venture Partners, Stellaris Venture Partners and Jungle Venture Partners. Axis Capital from Singapore has also participated in the round. The company plans to utilize the fresh round of capital to expand its Seller Base across Wholesale Hubs in India, introduction of new categories and technology innovation delivering more value to its B2B users.
- Myntra’s largest vendor Vector E-Commerce sees revenue grow 40% to Rs 1,747 crore
Fashion e-tailer Myntra’s single largest vendor Vector E-Commerce has reported a 40% growth in revenues at Rs 1,747 crore for the fiscal year ending March 31, 2016, signaling muted sales for the Flipkart-owned online retailer. This comes largely on the back of the e-commerce player’s failed strategy of going app only in the middle of 2015. The vendor’s total revenue grew more than twice for the fiscal year ending March 31, 2015.
- Logistic Startup MUVR.in Selected As Top 40 Rising Startups of Gujarat
Ahmedabad-based tech logistic startup MUVR.in got selected as top 40 Rising Startups of Gujarat. Chief Minister of Gujarat Mr Vijay Rupani launched the Coffee Table book of rising startup at the Vibrant Gujarat Startup Summit held at Mahatma Mandir Gandhinagar. Coffee Table Book is going to be a compilation of startups/MSME’s of Gujarat which will be judged based on the novelty of idea, story behind the idea and the impact created by the product in the market. MUVR.in also be awarded a recognition certificate from the government of Gujarat on behalf of Mr Rohit Patel, Industry Minister of Government of Gujarat.
- NetApp invests Rs 1,000cr to open Global Center of Excellence in India, to launch startup accelerator in 2017
Still in the concept stage, the accelerator plans to take two cohorts (batches) in a year with around six companies in each cohort. According to Deepak Visweswaraiah, Managing Director, NetApp India, the company plans to launch the equity-free accelerator by the middle of this calendar year. This news comes along with NetApp’s opening announcement of its Global Center of Excellence in Bengaluru. The Rs 1,000-crore engineering centre is spread over 15 acres and will not only house NetApp’s largest R&D team but will also act as an Asia-Pacific hub for customer support.
- E-commerce is passé. Moonshot ideas will grab attention of startups in 2017
Ecommerce is passe. Moonshot ideas will grab the eyeballs this year—unique fintech models, an open source programming language, media and traditional businesses with a tech spin. 2017 is all set to be about going off the beaten track.
- Alibaba Group’s UCWeb Announces Investment of Rs 200 Cr for India and Indonesia Market
UCWeb, part of Alibaba Mobile Business Group, has announced its plans to invest 2 Billion Rupees (200 Million RMB) over the next 2 years in India and Indonesia market. The funds will primarily be used to tap the huge potential of user-generated content in India via its news distribution and content platform, UC News.