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DigitalOcean to empower startups in Karnataka

Sunday, September 3, 2017, 3:25 PM

DigitalOcean to empower startups in Karnataka

Cloud hosting platform DigitalOcean signed a Memorandum of Understanding (MoU) with Karnataka Biotechnology and Information Technology Services to provide cloud infrastructure and support to startups enrolled with the Karnataka Startup Cell. The MoU was signed at the government’s ‘Elevate 100’ program which aims to support start-ups by providing Rs 400 crore over a period of time, a statement said.

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GoGoVan becomes Hong Kong's first $1 bn startup following merger deal

Saturday, September 2, 2017, 10:06 PM

GoGoVan becomes Hong Kong's first $1 bn startup following merger deal

App-based goods transporting platform GoGoVan has become Hong Kong's first startup to hit a $1 billion valuation. The valuation comes after GoGoVan merged with the China-based delivery firm 58 Suyun this week. The merged entity which will be called GoGoVan, is aiming to raise $200 million for expansion into two or three new markets next year, said its CEO Steven Lam.

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ISB, SAP collaborate to empower high-impact social startups

Thursday, August 31, 2017, 4:55 PM

ISB, SAP collaborate to empower high-impact social startups

The Indian School of Business (ISB) and SAP Labs India have entered a collaboration to nurture technology-based start-ups in the social space, focusing on ventures which are working in areas that have relevance to national priorities. Titled Jumpstart Social Enterprise Accelerator, the programme aims to identify and support 10 early stage and 5 growth stage promising ventures by providing guidance.

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Govt may set up 'world's largest' incubator for startups in defence

Thursday, August 31, 2017, 4:45 PM

Govt may set up 'world's largest' incubator for startups in defence

The Telangana government is mulling to set up an exclusive incubator for startups working in defence sector, said state IT and Industries Minister K T Rama Rao said on Thursday. "We have series of discussions with the Scientific Advisor to Raksha Mantri (Defence Minister) and with the support of Centre we will be launching a Defence Electronics and Defence focused incubator in Hyderabad," Rama Rao said.

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K'taka picks up 100 innovative startups, to give Rs 35 cr in funding

Thursday, August 31, 2017, 4:43 PM

K'taka picks up 100 innovative startups, to give Rs 35 cr in funding

Karnataka government on Wednesday picked up 100 most innovative start-ups after following through a four-layered selection process. These startups will get a funding support of about Rs 35 crore from the government to pursue their tech-ideas and scale them up. When the final leg of selection process began on Tuesday at Hotel Lalit Ashok, there were 270 startups vying for these top 100 slots.

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K’taka Govt to allow startups to bid for govt projects in new policy

Wednesday, August 30, 2017, 6:18 PM

K’taka Govt to allow startups to bid for govt projects in new policy

The new startup policy from the Karnataka Government will include provisions to allow startups to bid for government projects, which have traditionally been a turf for the large corporations. “We will look at the services and procurement from start-ups for operations within the govt. Some of the services government departments use is outdated because we have fallen back on technology”, Karnataka IT minister Priyank Kharge told.

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Rs 1,000 cr corpus set up for 'startup' schemes in UP: CM

Wednesday, August 30, 2017, 6:03 PM

Rs 1,000 cr corpus set up for 'startup' schemes in UP: CM

A day after stressing that 70-lakh jobs will be created in five years, Uttar Pradesh Chief Minister Yogi Adityanath today said his government has set up a corpus of Rs 1,000 crore to encourage startup schemes in the state. "We have created a corpus of Rs 1,000-crore to encourage startup schemes...we will sign a MoU with SIDBI by September-15 for this purpose," the chief minister said.

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270 startups slugging it out for K'taka’s 100 most innovative startups

Tuesday, August 29, 2017, 5:37 PM

270 startups slugging it out for K'taka’s 100 most innovative startups

Two hundred and seventy startups from across Karnataka are vying for the top 100-slots in Karnataka government’s startup hierarchy. A slot would mean generous government support including mentoring and funding. Industry leaders such as KK Natarajan of Mindtree, Bhavish Aggarwal of Ola-Cabs, and TiE’s Ravii Gururaj are brainstorming with the startups to pick those 100 startups with disruptive ideas and help them turn their ideas into successful businesses.

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Microsoft Accelerator announces 11th start-up cohort

Wednesday, August 23, 2017, 7:32 PM

Microsoft Accelerator announces 11th start-up cohort

Tech giant Microsoft on Wednesday announced its 11th cohort of 14 late-stage start-ups for its 'Accelerator' programme to help boost their enterprise readiness and go-to-market (GTM) activities. The start-ups cover diverse markets and sectors like GST-readiness, video processing, Natural Language Processing and Machine Learning, the company said in a statement.

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Cabinet nod for Rs 2,000 cr credit guarantee fund for startups

Monday, August 21, 2017, 2:20 PM

Cabinet nod for Rs 2,000 cr credit guarantee fund for startups

The Department of Industrial Policy and Promotion's (DIPP) proposed credit guarantee fund for startups is likely to get Cabinet approval by September. The fund, with an initial corpus of Rs 2,000 crore, will be formulated to facilitate collateral-free loans up to Rs 5 crore for one startup. “We plan to give guarantee for loans worth Rs 15000 crore for startups,” a senior government official told.

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