Page 13 - Start-ups
Uttar Pradesh MSMEs to get up to Rs 5 lakh aid under new start-up policy
MSMEs in Uttar Pradesh will get marketing assistance of up to Rs five lakh under a new start-up policy, a senior official said here Tuesday. New start-up policy 2020, aimed at extending support and encouragement to start-ups and incubation centres in Uttar Pradesh has been notified, said Additional Chief Secretary (Electronics and Information Technology) Alok Kumar. Under the new policy, there is a window of up to Rs 5 lakh as marketing assistance to MSMEs," he added. Kumar gave this information while addressing a virtual conference on "Role of Information Technology in transforming MSMEs' future during COVID-19", a PHDCCI release said. The conference had been organized by the Uttar Pradesh Chapter of PHD Chamber of Commerce and Industry. Kumar also said the Department of IT & Electronics is working hand in hand with SIDBI to facilitate venture capital funding for new start-ups and MSMEs. Focusing on the important role that IT is playing these days, Additional Chief Secretary, ..
 "Uttar Pradesh MSMEs to get up to Rs 5 lakh aid under new start-up policy")
Lumikai launches VC fund for gaming, interactive media start-ups
Lumikai, a venture capital firm focused on gaming and interactive media, on Monday announced a new early stage VC fund that will support up to 20 early-stage investments
 "Lumikai launches VC fund for gaming, interactive media start-ups")
BSE signs pact with Gujarat govt's iHub to help start-ups raise capital
Besides, the exchange will offer multiple benefits in terms of gaining visibility, branding, credibility and unlocking the value
 "BSE signs pact with Gujarat govt's iHub to help start-ups raise capital")
STPI to launch incubator to promote research, startups in health tech
The Lucknow-based hub will nurture 50 start-ups over 5 years
 "STPI to launch incubator to promote research, startups in health tech")
Reducing farm wastage
New fund should help boost agricultural infrastructure
 "Reducing farm wastage")
IFC to invest $10 mn in Endiya Partners Fund II for product start-ups
Endiya Partners is a seed and early-stageventure capital firm investing in IP-led Indian product start-ups that are globally relevant
 "IFC to invest $10 mn in Endiya Partners Fund II for product start-ups")
For agritech start-ups, spring is in the air as funding rises amid Covid-19
Companies focused on farm technology are witnessing a surge in funding
 "For agritech start-ups, spring is in the air as funding rises amid Covid-19")
Happy at RBI's decision to bring start-ups under priority sector: FM
Sitharaman says govt will soon be coming with taxpayers charter of rights which was announced in the Budget
 "Happy at RBI's decision to bring start-ups under priority sector: FM")
Priority lending tag to provide new credit lifeline for young startups
Say banks will have to understand ecosystem's high-growth business model
 "Priority lending tag to provide new credit lifeline for young startups")
Start-ups to get priority sector tag as RBI revises lending norms
It intends to align them with emerging national priorities and bring a sharper focus to inclusive development
 "Start-ups to get priority sector tag as RBI revises lending norms")
Byju's acquires Mumbai-based ed-tech start-up WhiteHat Jr for $300 mn
Byju's has bought the company for $300 million according to DC Advisory (DC), which acted as the exclusive financial advisor to WhiteHat Jr on its sale to the Bengaluru-based education technology firm
 "Byju's acquires Mumbai-based ed-tech start-up WhiteHat Jr for $300 mn")
TVS Motor plans Rs 300-crore capital expenditure amid Covid-19 pandemic
The company said it was planning to commercialise some of the intellectual properties (IPs) to be built by start-ups through the company's Singapore subsidiary.
 "TVS Motor plans Rs 300-crore capital expenditure amid Covid-19 pandemic")
Start-ups need to hack costs to cope with pandemic: MakeMyTrip's Deep Kalra
Says capital has become scarce and only a few businesses in areas such as health and remote learning are getting capital, but they are just 1-2% of the ecosystem
 "Start-ups need to hack costs to cope with pandemic: MakeMyTrip's Deep Kalra")
How tech start-ups are working to solve problems, challenges of agri sector
Themes such as farm-to-fork, factory-to-farm, financing and mechanisation enablers will be of significant interest in the coming months
 "How tech start-ups are working to solve problems, challenges of agri sector")
Dunzo suffers data breach; users' phone numbers, email IDs exposed
Google-backed delivery services startup says clients' payment information was not compromised.
 "Dunzo suffers data breach; users' phone numbers, email IDs exposed")
Zolostays raises $56 mn from Investccorp and others, eyes expansion
The funding round brings Zolo to $90 million raised in all
 "Zolostays raises $56 mn from Investccorp and others, eyes expansion")
Agritech start-ups to attract $500 mn in investments in next 2 years
In 2019 alone, $244.59 million were invested in the sector, an increase of over 350 % YoY
 "Agritech start-ups to attract $500 mn in investments in next 2 years")
Covid-19 impact: Mass lay-offs, cost-cutting among start-ups, says survey
Start-ups are now resorting to mass lay-offs and cost-cutting, as only a small number of them is funded to sustain till end-2020
 "Covid-19 impact: Mass lay-offs, cost-cutting among start-ups, says survey")
About 70% start-ups impacted by Covid-19, 12% shutting operations: Survey
43 per cent of start-ups have already started salary cuts in the range of 20-40 per cent over the period of April-June 2020, it said.
 "About 70% start-ups impacted by Covid-19, 12% shutting operations: Survey")
Live tutoring firm Vedantu readies itself for post Covid demands
Vedantu cashing in as coaching classes remain shut amid lockdown
 "Live tutoring firm Vedantu readies itself for post Covid demands")
