Indian Startups
Committed to transparency, cooperating with govt authorities: MG Motor India
According to Bloomberg, "the probe against the local unit of the Chinese carmaker SAIC Motor has been initiated by India's Ministry of Corporate Affairs". "The company's top management, including directors, managing director and auditors have been summoneda by the ministry seeking more clarification, the people said," according to the report.
Indian startups make deep hiring cuts, permanent employee hiring down 61%
The hiring for chief experience officer (CXO) has decreased by a massive 1,300 per cent since October 2021, according to the annual insights report by RazorpayX Payroll, the business banking platform of Razorpay. The changing dynamics of the startup ecosystem has resulted in massive shifts in hiring patterns in the last 12 months.
PM urges startups to take advantage of space sector opportunities
In his monthly radio broadcast "Mann Ki Baat", Modi said that Indian industries and startups are engaged in bringing new innovations and new technologies in this field. In particular, the collaboration of IN-SPACe is going to make a big difference in this area. In June 2020, the Government had opened up the space sector to enable the participation of Indian private sector in the entire gamut of space activities.
Kanpur-born CEO to invest $100 bn, create 50,000 jobs in New York
"I was humbled to meet with President Biden, introduce him to some of the Micron team, and showcase Micron's plans for our future megafab in Clay, New York. This $100 billion investment over the next two decades will create the largest semiconductor fabrication facility in the history of the US," the Kanpur-born CEO said in the post shared on Friday.
India now home to over 450 Web3 startups, 11% of global talent
Currently, India is home to over 11 per cent of the global Web3 talent, making the country the third largest Web3 talent pool worldwide. Between 2021-2022, India registered over 170 new Web3 startups, yielding over 50 per cent CAGR growth since 2015.
Housing IPRs overseas, funding, talent among reasons for startups moving out of India
Recently, Union Finance Minister Nirmala Sitharaman said the government can talk to the Indian startups and address their concerns so that they can stay in the country rather than moving out. There is a trend of Indian startups after their initial growth period move out to the US, Singapore and even the United Arab Emirates (UAE), industry officials said.
Cred, upGrad, Groww top 3 startups in India: LinkedIn
Higher online education platform upGrad, run by Ronnie Screwvala, was at the second position and Lalit Keshre's homegrown online investment platform Groww was third on the annual list. Satya Nadella, Chairman and CEO of Microsoft, recently joined Groww as an investor and advisor.
Centre revises threshold for paid up capital of small companies
The government has taken several measures in the recent past towards ease of doing business and ease of living for the corporations. These included decriminalisation of various provisions of the Companies Act, 2013 & the LLP Act, 2008, extending fast track mergers to startups, incentivising incorporation of One Person Companies (OPCs), etc.
Ratan Tata invests in startup that connects the elderly with young graduates
In the last six months, "Goodfellows" has completed a successful beta and will now be available in Mumbai and soon in Pune, Chennai and Bengaluru. "The bonds between the two generations created by Goodfellows are very meaningful and are helping to address an important social issue In India. I hope the investment helps the young team at Goodfellows grow," said Tata. During the beta testing, Goodfellows received a positive response with over 800 applications from young graduates looking to be employed at Goodfellows of which a shortlisted cohort of 20 provided companionship to the elderly in Mumbai.
49% Indian startups now from tier 2, 3 cities: Jitendra Singh
These startups from smaller cities are working in the fields like IT, agriculture, aviation, education, energy, health and space sectors, the Minister said while delivering keynote address at "DST StartUp Utsav" here. As per the latest data, there are currently 105 unicorns, out of which 44 were born in 2021 and 19 in 2022. "The decade 2021-30 is expected to bring transformational changes for Indian science, technology and innovation (STI)," said the Minister.
Advertisement