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India, US to co-host GES in Hyderabad

Friday, August 11, 2017, 7:04 AM

India, US to co-host GES in Hyderabad

India and the US will co-host Global Entrepreneurship Summit (GES) at Hyderabad from November 28 this year and the American delegation will be led by US President Donald Trump's daughter Ivanka Trump. This was announced by Prime Minister Narendra Modi on Thursday. "The Summit is a unique opportunity for bringing together entrepreneurs and start-ups with global leader," Modi tweeted.

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PM seeks to include views of young blood in policy-making

Thursday, August 10, 2017, 11:43 AM

PM seeks to include views of young blood in policy-making

Prime Minister Narendra Modi will interact with young entrepreneurs, including startup founders and CEOs, later this month to get their views on policymaking in the first such exercise in the country. The NITI Aayog has shortlisted 150 names each to participate in two meetings that the PM will chair: first on August-17 with young entrepreneurs and the next on August-22 with young CEOs.

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Jan to June period witnessed 130 internet startups shutting operations

Thursday, August 10, 2017, 8:14 AM

Jan to June period witnessed 130 internet startups shutting operations

A total of over 130 internet start-ups have closed down operations in the first six months of calendar year 2017, with the e-commerce and foodtech space contributing to the deadpool the most. According to data analytics firm Tracxn Technologies, 19 retail e-commerce start-ups wound down and formed a significant part of the deadpool list this year.

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Startups under scanner: SEBI notice to Angel networks

Tuesday, August 8, 2017, 8:30 AM

Startups under scanner: SEBI notice to Angel networks

Angel networks which serve as vital-link between startups scrounging for funds and faceless investors, are being scowled at by the financial market regulator. SEBI has shot off notices to at least half a dozen angel firms in the past one-and-a-half months, asking them to spell out details of their fund-raising business and explain whether they operate within the contours of the securities market law.

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Post Startup India, 2,200 ventures get DIPP stamp

Tuesday, August 8, 2017, 7:38 AM

Post Startup India, 2,200 ventures get DIPP stamp

Over 2,196 new ventures have been recognised by the Department of Industrial Policy and Promotion (DIPP) since the launch of Startup India, easing patent filing and credit availability for them. Government data shows there has been a spurt in registrations of startups following the change in definition in May 2017, which did away with the requirement of a recommendation letter from an incubator.

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Hrithik Roshan inks Rs 100 cr deal with startup Cure.Fit

Tuesday, August 8, 2017, 7:19 AM

Hrithik Roshan inks Rs 100 cr deal with startup Cure.Fit

Health and wellness startup Cure.fit has signed on actor Hrithik Roshan as brand ambassador in what is touted as one of the largest endorsement deal signed by an Indian startup. The five-year association, valued at Rs 100 crore, includes the actor’s equity stake in the company in lieu of cash investment, promotions and royalty from his personal brand HRX’s specialised workout plan.

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Scheme to boost startups in agriculture sector launched

Thursday, August 3, 2017, 7:42 PM

Scheme to boost startups in agriculture sector launched

The National Academy of Agricultural Research Management (NAARM) on Thursday launched "AGRI UDAAN" programme in which selected startups will be trained to develop innovative agriculture products. The startups will learn about different aspects of capacity building such as technology commercialisation, business plan preparation, finance management, said Ch. Srinivasa Rao, Director of NAARM.

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Flipkart's valuation up 64%, Ola's up 12%

Monday, July 31, 2017, 8:59 AM

Flipkart's valuation up 64%, Ola's up 12%

Vanguard, one of the world's largest asset management company, has marked up the valuation of two poster boys of Indian startup ecosystem - online retailer Flipkart and cab-hailing app Ola - according to filings made by one of the funds managed by the firm.While Vanguard World Fund has marked up Flipkart's valuation by up to 64%, Ola's was marginally moved up by 12%.

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Unpaid supplier can now initiate bankruptcy proceedings

Saturday, July 29, 2017, 3:02 PM

Unpaid supplier can now initiate bankruptcy proceedings

Indian banks are saddled with bad debt and as the banking industry goes about recovering about Rs 8 lakh crore in doubtful loans, the new Insolvency and Bankruptcy Code is expected to provide the much-needed teeth to the financial institutions. Aspects like a time bound recovery period for corporates, simpler ways for creditors to initiate bankruptcy proceedings means there would noticeable impact on companies, including start-ups.

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Rs 2,000 cr credit guarantee scheme for startups under process

Wednesday, July 26, 2017, 6:47 PM

Rs 2,000 cr credit guarantee scheme for startups under process

The government is in the process of formulating a Rs.2,000 crore credit guarantee scheme to enable startups to raise loans without any collateral, parliament was told on Wednesday. "Government is formulating a Credit Guarantee Scheme for Startups (CGSS) with a corpus contribution of Rs.2,000 crore that will enable startups to raise loans without any collateral for their business purposes," Commerce Minister Nirmala Sitharaman said.

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