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Page 34 - Startups

India to become among attractive destinations for start-ups: Minister

Entrepreneurship potential of Indian youth is now being realised: Minister

Updated On : 18 Aug 2017 | 4:07 PM IST

Beauty startups struggle to scale up business amid drying funds

In a little over a year, 11 start-ups in the beauty and wellness space have been acquired, with five changing hands in 2017. That's because start-ups in this segment have struggled to scale up and crack their unit economics. As funding dried, the founders began looking for exits. For instance, Vanity Cube was acquired by fitness major VLCC, while Vymo was bought by Naturals, a South India-based salon chain. Belita, a pioneer in at-home beauty service in Mumbai, was acquired by city salon chain Enrich. Some weaker players were acquired by Quikr, Little and others, say insiders.There are two segments here: The go-to salon market that includes branded entities, and single stores and at-home players like MyGlam, UrbanClap, Quikr, Housejoy or Vymo. The beauty and wellness market in India was estimated at $3 billion in 2013; currently, it is pegged at $7 bn (Rs 45,000 crore) and is likely to be $12 billion by 2018. These include products and services sold through salons, spas, fitness ...

Updated On : 20 Jul 2017 | 2:12 AM IST

Lesser paperwork for start-ups as govt does away with cash flow statements

In a move that could give much needed relief to the startup ecosystem in the country and reduce their paperwork as well as administration costs, the government in a notification has said that startups would not have to prepare cash flow statements. However industry experts are unsure of the number of startups it might benefit as the not many firms till now have not been able to fall under the government's definition of startups.In a recent notification issued by the Ministry of Corporate Affairs (MCA), it has amended the exemptions to the Companies Act to accommodate the start-up community. Essentially, these amendments are along the lines of reducing paper work for smaller companies who run on a tight budget and might not have the manpower or the resources for maintaining extra paperwork. "These companies will not have to prepare cash flow statements. Though cash flow statements will not be declared, these start-ups have to mention in detail accruals," a senior MCA official said. It .