The Society for Innovation and Entrepreneurship at the IIT Bombay has incubated 140-startups in the last 15-years. Speaking during the 57th convocation ceremony, Subhasis Chaudhuri, Director, IIT Bombay, said that these startups gave birth to 360 entrepreneurs, who in turn created more than 3,600 employment opportunities. SINE has been selected as 'Centre of Excellence' by the Department of Science and Technology, Government of India.

Food delivery platform Zomato has acquired non-profit organisation Feeding India for an undisclosed amount with an aim to deal with the issues of hunger and food wastage across the world. Feeding India will continue to be a non-profit entity and Zomato will fund the operations. It will also fund the development of the Feedi.ng app which will connect donors and volunteers at scale.

The government is looking to phase out the licensing requirement of businesses in an attempt to reach the top 50 in the World Bank's "ease of doing business" ranking, said the source. According to the report, the Department for the Promotion of Industry and Internal Trade (DPIIT) has given a draft Cabinet note on a policy proposed for inter-ministerial consultation.