Compilation of news from startup world :
The impact of globalization on India’s startup ecosystem
Globalisation isn’t a new concept to India. Back in the 1990s, when India opened its doors to foreign products and paved the way to export indigenous ones, the move was met with mixed opinions. Decades later, everything from the Nike shoes we buy to the Domino’s pizza we cannot live without are results of India’s outlook towards globalization.
Karnataka launches booster kit for startups
Karnataka on Monday unveiled a booster kit to nurture startups in the state with funding and hand-holding till they flourish. “The booster kit provides software tools, cloud credits, access to mentors, legal and consulting accountants and access to government funding and government supported incubators,” state IT & BT Minister Priyanka Kharge told reporters here. Announcing Rs.400 crore funding over the next four years as grant or equity for startups , micro and small IT and BT (biotech) enterprises, he said the Karnataka Biotechnology and IT Services (KBITS) would also help them in marketing and promotion.
NDMC clears incubation centre for startups
NDMC has cleared the plan for first incubation centre to encourage startups in collaboration with Software Technology Parks of India under the Atal Innovation Mission of government of India. Chairman Naresh Kumar said, initially 20 companies will be taken under the umbrella and the council will provide basic amenities and encourage entrepreneurs to nurture their idea. The incubation center will have 100 plug and play workstations, dedicated meeting rooms, training rooms, libraries, conference rooms, special platform for special events with the facility of back-up audio-visual. “The proposal was approved during the council meeting on Monday,” said an official
India is world’s youngest startup nation
With three to four startups emerging every day, India has secured the third spot after US and Britain in terms of the number of start-ups, making us the world’s youngest start-up nation with 72 percent founders less than 35 years of age. Addressing the “Start-up India states’ conference”, Commerce and Industry Minister Nirmala Sitharaman said “Start-ups are the next big economic force in India. Close to 4,400 technology startups exist in India and the number is expected to reach over 12,000 by 2020. India is the world’s youngest start-up nation with 72 percent founders less than 35 years.”
How smart start-ups are building the IoT market in India
With a predicted 20 billion globally connected devices over the next 3 years, we’re quite likely to see the Internet in almost all the tools we use on a daily basis. While there are a few companies that are getting in to the consumer IoT market (creating smart gadgets that would automate your home, for example), there is a huge focus on industrial or large scale solutions in the B2B sector as well.
EVC Ventures invests in student deals platform BigDeal
Delhi-based student deals platform BigDeal has raised a seed round of funding from EVC Ventures, a person privy to the development told Techcircle.in. The startup raised around $100,000 in the round, led by Anjli Jain, managing partner, EVC Ventures, the person said. The startup, which is run by Dealmonk E-services Pvt. Ltd, will use the funds to expand the team, enhance technology and acquire more customers and merchants. The firm, which previously operated as DealMonk, was founded in 2015 by Aashish Singh and Aditya Jindal. In its earlier avatar, it enabled users to find deals based on their location. Now, Big Deal aims to be both a discovery platform for students looking for discounts and a sales channel for merchants who are looking to tap the 16-25 age demography. With the help of the platform, merchants can maintain the supply of real-time deals to students across sectors like, food and beverage, travel, mobile recharges and e-commerce.
My Home Group plans $75m fund to invest in startups
Telangana-based My Home Group is in the process of setting up a Rs 500 crore ($75 million) equity fund to invest in startups, according to a report in The Economic Times. “We may begin the fund with around Rs 100 crore and expand it to around Rs 500 crore over the next five years,” founder Jupally Rameswar Rao told The Economic Times. The Hyderabad-headquartered group, which has interests in real estate, cement and power businesses, has formed a dedicated research wing to evaluate investment opportunities. “The dedicated research and investment team will take up due diligence of startups as
Workspace aggregator Qdesq raises angel funding for expansion
Branded workspace aggregator Qdesq Realtech Pvt Ltd has raised an undisclosed amount of funding from a clutch of investors, including Jai Drinks Pvt. Ltd director Anuraag Jaipuria, Jaipuria Beverage and Food Pvt. Ltd director Ruchirans Jaipuria and Kajaria Ceremics joint managing director Rishi Kajaria. Existing investors Dheeraj Jain of Redcliffe Capital, and angel investors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra also participated in the round, Qdesq said in a statement.The company will use the funds for expansion, marketing and technology enhancement. Gurgaon-based Qdesq plans to expand its presence in other metro cities such as Mumbai and Bangalore. In January, the company had raised an undisclosed seed round to build its team, ramp up operations and technology, and acquire third-party venues.