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A 'bad precedent': BharatPe episode surprises startup capital Bengaluru
The BharatPe episode, which shocked the startup industry, has startled Bengaluru, known as the startup capital of India.The incident has also rang alarm bells among many startups, which are going easy on financial discipline. Industry insiders feel that while the investors want to double their money, founders of startups want to settle down as soon as they get investments, without even bothering to think about the future of the workforce.
With top dollars flowing in, Indian startups need to reset their moral compass
The Ashneer Grover-BharatPe tussle that hogged the limelight since January has brought to the fore the need to fix corporate governance while maintaining moral integrity at the very top in the burgeoning Indian startup ecosystem. The Ashneer Grover-BharatPe tussle that hogged the limelight since January has brought to the fore the need to fix corporate governance while maintaining moral integrity at the very top in the burgeoning Indian startup ecosystem.
India's 61,400 startups and 83 unicorns will boost realty: Pankaj Bansal
As per Orios Ventures Partners report, the Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year. The Indian government has also recognized 14,000 new startups in 2021. As on January 2022, India has 83 unicorns with a total valuation of $277 billion.
Dwarka Expressway to drive startups and unicorns to Gurugram-NPR: Pankaj Bansal
The Rs 9,000 crore Dwarka Expressway Project is an access controlled expressway with a route alignment connecting Mahipalpur (Shiv Murti) in Delhi with Kherki Dhaula via New Gurgaon (Gurugram) in Haryana. It will feature 20+ flyovers and bridges, 2 rail over-bridges and underpasses, 11 vehicle underpasses, 20 underground pedestrian crossings, and a 2.5m wide cycle and bike path.
India invites Agri Start Ups, FPOs at EXPO2020 Dubai
Additional Secretary, Ministry of Agriculture & Farmers Welfare, Dr Abhilaksh Likhi assured the Start Ups and Farmer Producer Organisations (FPOs) that they would be considered for providing equity grants, management costs, and other available support measures.Dr Likhi was speaking at the inauguration of 'Food, Agriculture and Livelihood' fortnight at the India Pavilion in EXPO2020 Dubai on Thursday.
Jio Platforms to invest $200 mn in Glance
According to Jio, the proposed investment is aimed at accelerating Glance's launch in several key international markets outside of Asia such as the US, Brazil, Mexico and Russia. Notably, Glance is aiming to create the world's largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally.
India-based startups raised $39 bn in 2021; mortality rate down to 1%
The report on the democratisation of India's startup ecosystem showed a total funding of $39 billion, a rise of 255 per cent from $11.8 billion in 2020.Besides, the startup mortality rate came down to 1 per cent in 2021 as India witnessed a remarkable reduction in the number of dead-pooled businesses as against 16 per cent in 2016.
India climbs 35 ranks in Global Innovation Index but lags in patents: Eco Survey
Most of India's startups are in the IT/knowledge-based sector and intellectual property, specifically patents, are key to this knowledge-based economy. India's ranking in Global Innovation Index has climbed 35 ranks which is a "remarkable progress, but the number of patents granted in India is still a fraction compared to patents granted in China, the US, Japan and Korea", according to the Survey, tabled in the Parliament on Monday.
Delhi pips Bengaluru as startup capital of India: Eco Survey
Over 5,000 recognised startups were added in Delhi while 4,514 startups were added in Bengaluru between April 2019 and December 2021, according to the survey document. Maharashtra has the highest number of recognised startups at 11,308. India now has more than 61,400 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). At least 14,000 recognised startups have been added in 2021-22 fiscal, according to the Survey.
India now a land of 83 unicorns, mostly in services sector: Eco Survey
Presented in Parliament by Finance Minister Nirmala Sitharaman, the survey document revealed that the number of new recognised startups increased to over 14,000 in 2021-22 from 733 in 2016-17. "India has become the third largest startup ecosystem in the world after the US and China," read the document. Forty-four Indian startups have achieved unicorn status in 2021 taking the overall tally of unicorns to 83, most of which are in the services sector, it added.
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