By launching ground-breaking initiatives to give tech startups and aspiring entrepreneurs access to a rich collaborative ecosystem, STPI has set out to strengthen the country’s ecosystem for tech startups. It has encouraged the patenting of more than 100 upcoming tech startups. On December 24, 2022, in a conversation with DD News, Director General of Software Technology Parks of India, Mr. Arvind Kumar elaborated that the goal of STPI in its starting stage was to support the export of software, and today they have reached over 6.3 lakh crore of exports, marking…
Read MoreTag: Startup
INDIA IS CURRENTLY THE THIRD-LARGEST STARTUP ECONOMY -Smriti Irani
The Union minister on Tuesday, December 20, 2022 has stated that “The startup ecosystem in India is now the third-largest in the world” “Under Prime Minister Narendra Modi’s leadership, India has emerged as the third-largest ecosystem of startups, with more than 84,400 startups in 656 districts across the country” said Smriti Irani Up until 2014, India was home to only 720 startups, and the evaluation stood at USD 332.7 billion. Explaining more about the economy, she said that in the last eight years, India has become the fifth-largest economy in the…
Read MoreKarnataka advances by introducing the new start-up policy
The Karnataka cabinet has approved a policy that aims to add 10,000 more startups over the next five years. Minister of Information Technology and Biotechnology, Dr. C. N. Ashwath Narayan, claims that “the new policy framed by the Department of Electronics and IT/BT has the aim of positioning Karnataka as the “Champion State” for startups and further increasing the number of high-growth startups by 2027.” The policy approved at the cabinet meeting in Belagavi secures Karnataka’s position as the nation’s innovative hub. The state’s ultimate objective was to launch 25,000…
Read MoreThe debut of tech fashion with Virgio
In recent fashion news, Virgio, a pioneer company founded in 2022 by Mr. Amar Nagaram, has received 37 million USD of funding, which roughly translates into INR 306 crore, in a round led by companies like Prosus, Accel, and Alpha Wave. What is new about Virgio is that it focuses on the use of technology throughout the design, manufacturing, and purchasing processes. Ensuring a smooth working structure in the fashion life-cycle. This, according to Mr. Nagaram, will allow buyers to have real-time access to runway fashion as well as give…
Read MoreThe rise of the start-up ecosystem in India
On 16th January of 2016; the Indian government launched the Start-up India initiative with the purpose of supporting the Indian startup ecosystem and encouraging the innovative and creative minds of our nation. The plan was put into action by following these three strong pillars: handholding and simplifying Funding, Support, and Incentives Industry-Academia Partnership and Incubation To reduce the dependence of Indian startups on foreign sources, the government implemented the Fund of Funds for Start-ups (FFS) and the Start-up India Seed Fund Scheme (SISFS). It was to provide investments to startups that…
Read MoreGaruda Aerospace eyes plantation of 75,000 seeds
Start-up for drones Garuda Aerospace announced on Saturday that it will plant 75,000 seedlings to commemorate the country’s 75th anniversary of independence. Garuda Aerospace launched a statewide drone seed planting program on June 5 to commemorate World Environment Day, according to a company statement. The company’s recently introduced ‘Vriksh Vaahan’ drone was used for the task. The drone is a simple approach to boost productivity while avoiding environmental impact, according to the report. “The ‘Vriksh Vaahan’ drones will spray seeds directly over fields on the desired spot with the help…
Read MoreInfo Edge-backed Edtech startup Udayy shuts down its operations
Gurgaon-based Udayy, an edtech startup focused on students from kindergarten to eighth grade, has decided to shut down its operations as it was unable to maintain sustainable growth in the hyper-competitive edtech market. Following this decision, the edtech startup has laid off its entire workforce. Saumya Yadav, one of the co-founders of Udayy, explains that the platform did not see a viable path toward business profitability with the lifting of COVID-19 norms. The increased number of children returning to school led to requests for refunds and difficulty in acquiring new customers…
Read MoreHighlights of India First Tech startup conclave & awards 2022 : Bengaluru chapter
The Indian startup ecosystem is entering a new era. The unicorn population has increased by leaps and bounds in the last year, driving our country to third position in the globe. The All India Council for robotics and automation is exploring the spread and depth of our startup ecosystem by organizing the Bengaluru chapter of the INDIA FIRST Tech startup conclave & awards this June. The conclave is a 2-day event that is being conducted on the 8th & 9th of June 2022. The event’s goal is to provide an…
Read MoreArya.ag acquires agriculture data science startup Prakshep
Arya.ag, a grain commerce platform located in Noida, has acquired agriculture data science firm Prakshep for an unknown sum. Arya strengthens its position as India’s largest integrated grain commerce platform and expands its technological capabilities to provide end-to-end solutions to its users with this acquisition. Arya.ag secured $60 million in Series C financing from Asia Impact SA and returning investors Lightrock India and Quona Capital in January of this year. The purchase, according to the business, would assist to boost Arya’s aim of providing cutting-edge AI/ML capabilities to farm digitalization,…
Read MoreRuraltech startup Hesa raises $2.3M in a pre-Series A round led by Venture Catalysts
Hesa, a rural tech startup located in Telangana, has secured $2.3 million (Rs 17.8 crore) in a pre-Series A fundraising round headed by Venture Catalysts, with participation from Venture Catalysts US Chapter, Faad, Inflection Point Ventures, WFC, and other significant angel investors. The firm, founded in 2019 by Vamsi Udayagiri and Hema Nandiraju, will utilize the funds received to grow its geographical reach, develop its technological platform, and extend its capabilities in agri-fintech and commerce. Hesa allows for many API interfaces to deliver online, round-the-clock services in major sectors such…
Read More
