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IIT Bombay's SINE incubates 140 startups in 15 years

Sunday, August 11, 2019, 9:01 AM

IIT Bombay's SINE incubates 140 startups in 15 years

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.

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Zomato acquires Feeding India to address hunger and food wastage

Tuesday, July 9, 2019, 6:20 PM

Zomato acquires Feeding India to address hunger and food wastage

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.

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Govt to phase out licensing requirement for businesses: Report

Friday, June 28, 2019, 2:48 PM

Govt to phase out licensing requirement for businesses: Report

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.

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Rajasthan Government Backs Over 30 Startups Under iStart Programme

Monday, May 13, 2019, 6:12 PM

Rajasthan Government Backs Over 30 Startups Under iStart Programme

Rajasthan government has given out funds ranging from Rs.1.2 lakh to Rs.20 lakh to over 30 startups as part of its program iStart Rajasthan. The funds were disbursed under the program's financial incentives like sustenance allowance, seed funding, marketing assistance and Techno Fund. The startups that received funding reportedly included Hippo Cabs, mPass and others.

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Bangalore & Moscow in world's top 20 cities for startups

Tuesday, April 30, 2019, 5:11 PM

Bangalore & Moscow in world's top 20 cities for startups

Moscow is the 10th best city in the world for startups, followed by Bengaluru, StartupBlink Startup Ecosystem Ranking said on Tuesday. Moscow moved up from 14th position in 2017 to 10th position, while Bengaluru moved from 21th position to 11th position, bypassing cities such as Tokyo, Paris and Hong Kong. San Francisco has been crowned the world's best city for startups.

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RBI plans to attract more foreign capital for nation-building

Friday, April 26, 2019, 7:56 AM

RBI plans to attract more foreign capital for nation-building

Reserve Bank of India may revisit its policies to attract more foreign capital and restrict drainage of it to overseas markets, a move which will act as supplying oxygen to a capital-starved country. This may also address the sharp volatility of rupee in currency market. India is among the world's fastest growing countries and is the world's third largest economy today in PPP terms.

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Walmart started talks for investment, ended in acquisition: Sachin Bansal

Sunday, April 14, 2019, 7:52 PM

Walmart started talks for investment, ended in acquisition: Sachin Bansal

Flipkart co-founder Sachin Bansal is betting big on the domestic financial services sector as he looks to acquire a majority stake in a Bengaluru-based microfinance firm, two people familiar with the matter said. A successful transaction could also result in Bansal taking the top job at the firm, marking his return to an executive position, the sources said.

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Ola to launch self-drive service, to invest $500 million

Thursday, March 28, 2019, 9:21 AM

Ola to launch self-drive service, to invest $500 million

Homegrown ride-hailing platform Ola will invest over $500 million to launch 'self-drive' service aimed at broadening its portfolio of transportation solutions, according to two-people directly aware of company's plans. The investment will come from a mix-of-debt and equity over the next couple-of-years, according to one of persons. Ola will deploy nearly 10,000-vehicles, including luxury sedans and SUVs, in major-cities in coming months, said person.

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20 February 2019, Wednesday

What Is The Angel Tax Controversy?

Who is an angel investor? An angel investor invests his own money in an entrepreneurial company. He does this to earn a higher return on his money ...

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India e-commerce norms: Amazon may have to sell Cloudtail, Appario stakes

Saturday, December 29, 2018, 7:44 AM

India e-commerce norms: Amazon may have to sell Cloudtail, Appario stakes

The norms for FDI in e-commerce put out on Wednesday bars e-commerce firms from selling products of entities in which they have an equity stake. This may effectively lead to Amazon offloading its investment in Cloudtail and Appario, which forms majority of its sales. Most large e-commerce firms previously exploited loopholes in existing FDI rules and created complex structures to get around the norms.

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