A compilation of important news from the startup world:
Tough times ahead for India’s start-ups
The haircuts have begun. Though not as brutal and ruthless as those that marked the close of the first dotcom bust way back in 2001, they are sending shivers down the spines of many recently hatched companies. Venture capitalists which have bankrolled over 2,000 of India’s rambunctious start-ups over the past 10 years are getting more demanding with their investments….
After Zomato, Snapdeal more startups brace for second round of layoffs
Several of the job cuts are expected to be a result of the rapid automation being introduced at leading startups to handle routine tasks, as well as because of a spate of mergers and acquisitions among emerging businesses anticipated this year, according to industry analysts tracking the developments…..
Google’s Rajan Anandan backs premium products platform Smytten
Gurgaon-based Surfboats Solutions Pvt Ltd, which operates online discovery and shopping platform for premium lifestyle offerings called Smytten, has raised an undisclosed amount in funding from Google India’s managing director Rajan Anandan. The funds will be used for enhancing user experience, product development and expanding both user and brand base, a company statement said….
Start-ups find fuel in digital banking project
UltraCash’s team were successful in writing code to integrate their mobile payment platform with UPI. It would enable consumers to easily pay retail merchants from their phone. But their innovation does not need an internet connection. UltraCash’s technology securely transfers payment data from one device to another, using sound waves with frequencies inaudible to humans…..
Axilor – building JP Nagar into a startup hub in Bengaluru
Started in 2015, by Ganapathy Venugopal, former Head of Strategy and Planning at Infosys, Axilor is one of the few accelerators based out of JP Nagar Bengaluru. The main vision of the accelerator program was to help improve the odds of success of entrepreneurs in their first 24 months. Taking 12 per cent stake, most of the early stage startups go through a 100 day intense program…..
5 Reasons Why Your Startup Needs An ERP Software!
ERP software are beautifully designed tools benefiting businesses of all domains and verticals. Though often surrounded by myths, these software have been praised and decorated by everyone who have adopted this automation wonder of technology as a catalyst for their business’ growth story….
The next big thing: 4 startups from Tech in Asia Singapore 2016 that stood out
From a digital yellow pages for hawker stalls to a bicycle sharing startup, there was no lack of entrepreneurship at Tech in Asia’s two-day Singapore conference. If you have a fledgling company or are just interested in what the tech scene is like, Tech in Asia’s regional conferences are where it’s at. To give you an idea of what it’s like, we sifted through the buzz to bring you the best startups we think you should know about…..
Yuri Milner-backed fund Apoletto Asia & Sujeet Kumar invests in Nestaway
This investment in the startup is one the largest series-B transactions in 2016, and the first deal by Tiger Global this year. Nestaway will use the cash to further strengthen its supply network and expand to multiple cities and categories over the next few months, the company said. It recently expanded its portfolio to offer homes on rent for families and individuals from offering fully furnished rooms to bachelors, taking low advance deposits…..
Accenture seeks out FinTech innovators for its APAC accelerator programme
Accenture has launched the third edition of its annual accelerator programme, the FinTech Innovation Lab Asia Pacific (APAC). The 12-week programme in Hong Kong aims to help early- and growth-stage financial technology (FinTech) companies in APAC accelerate product and business development by gaining exposure to top financial institution executives from 20 banks….
Spring.ph breaks 50 software startups target, adds 7 new firms to LaunchPad
The Software PRoducts Incubation Group (Spring.ph) in the Philippines has surpassed its goal of having 50 software startup teams this year for its LaunchPad program. Spring.ph co-founder and head Arup Maity told DEALSTREETASIA that since Spring.ph was formed in August 2011 by the Philippine Software Industry Association (PSIA), it has accumulated a total of 56 startup product teams, seven of which were newly-absorbed over the weekend…..
China’s Silicon Valley dream powers rise of health startups
China’s leaders are seeking new engines of growth as the country’s economic expansion hits its slowest pace in 25 years. That’s encouraged provinces across the country to create special zones where new ventures can tap funding opportunities and other incentives. While technology start-ups have been some of the biggest beneficiaries, medical research firms are also getting a boost — giving new life to a Chinese industry that lagged the West for years…..
Visa and Aibim on lookout for financial tech startups
Visa Inc and the Association of Islamic Banking Institutions Malaysia (Aibim) has partnered to launch the Asean FinTech (financial technology) Challenge. The challenge, held in conjunction with the Global Islamic Finance Forum 2016 (GIFF) from May 10-12, is aimed to bring the best and most innovative FinTech startups…..
After a lengthy boom, the financing climate is starting to shift, and startups face an even harder time convincing venture capitalists to loosen the purse strings. It isn’t that those venture capitalists aren’t flush with cash. In fact, they are raising new money from eager pension funds, college endowments and other investors at the fastest clip that they have since the dotcom era, according to recent reports, collecting nearly $13bn in the first quarter alone…..