SILICON VALLEY OF INDIA
GIFT City-like hub for Karnataka, state IT minister Priyank Kharge tells FM
Karnataka IT-BT minister Priyank Kharge told finance minister Nirmala Sitharaman that such a central business district in Karnataka will foster economic growth and create jobs, and also attract foreign investment.
Apple set to lease office tower from Embassy Group in Bengaluru
Apple Inc leased an office tower in Bangalore with record rent. The site was previously a hotel near Bangalore Golf Club. Manufacturing operations expanded with Foxconn Technology Group and Tata Electronics, including a local supplier network and large facilities.
Tech leader moves from Singapore to Bengaluru after 7 successful years to expose daughter to 'chaos'
Aakash Dharmadhikari, co-founder of Realfast AI, moved from Singapore to Bengaluru after seven years to introduce his daughter to life's uncertainties. Reflecting on his time in Singapore, he humorously admitted forgetting the chaos of India. Dharmadhikari began his career in Bengaluru before relocating to Singapore in 2017. His decision sparked varied responses, highlighting challenges and support for his return to Bengaluru, symbolizing a shift towards embracing life's unpredictability.
Silicon Valley VC fund General Catalyst acquires Venture Highway; will deploy $1 billion in India
Venture capital fund General Catalyst is acquiring India-focussed early-stage investor Venture Highway to strengthen its India presence. As part of this move, Venture Highway—which has backed unicorns like Meesho and Moglix—will cease to exist and will transition into General Catalyst India. This comes in the backdrop of a larger reset in the global venture capital industry after the exuberance of the pandemic years.
Prosperr.io raises $1.5 million in funding from Silicon Valley investor Gokul Rajaram
Livspace founder Ramakant Sharma, CEO Saurabh Jain, and Cred founder Kunal Shah also participated in the funding round of the AI-enabled income tax solutions startup
Silicon Valley’s South Park Commons launches Bengaluru outpost in collaboration with Binny Bansal
Silicon Valley-based early-stage venture fund South Park Commons made its India entry with an outpost in Bengaluru. This is its first international location outside of the US. The fund was launched in 2016 as a collective of engineers, founders and researchers by husband-wife duo of Ruchi Sanghvi and Aditya Agarwal.
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Banks ask RBI to ease liquidity rule to keep credit taps open
Indian banks are urging the industry regulator to relax the current liquidity coverage requirements. They believe easing these mandates will free up more funds for lending.
Instabase appoints Deepak Sharma to advisory board to drive expansion in India
Instabase announced appointment of Deepak Sharma to its advisory board to drive expansion plans in India. Sharma, a Mumbai-based digital leader and former President at Kotak Mahindra Bank, brings over two decades of expertise in scaling digital businesses. Anant Bhardwaj, CEO of Instabase, lauded Sharma's insights, highlighting his pivotal role in navigating India's digital landscape.
Valley must respect (Beverly) Hills
Creators of AI will have to be especially careful over copyright, given the scope for bias inherent in the technology. Bias enters through human input. But AI can amplify it. Creative people lending names, faces or voices to such endeavour would be justified in seeking protection to their livelihood apart from regular compensation. This would also apply to content AI trains upon, such as the work of writers, directors and musicians.
Colour, Confetti and Camaraderie to Create Choreographed Chaos
All roads leading to the coolest spring party in the Bay Area were jammed with Holi spirit seekers
Bengaluru traffic alert issued after heavy rains leave many roads waterlogged. Check 7 days weather forecast
Bengaluru faces waterlogging from heavy rains, with IMD forecasting more rain and temperature ranging from 23 to 33 degrees. BBMP sells fallen branches on-site, addressing tree collapses aftermath. ANI reports waterlogging at Electronic City and Hosur main road.
Freshworks stock value drop not due to top deck rejig: Girish Mathrubootham
Freshworks' stock decline attributed to AI impact concerns. Mathrubootham plans to release AI adoption stats later. Woodside appointed new CEO, Device42 acquired. Clear path to billion-dollar revenue. Transition details and Silicon Valley experience emphasized.
Here is why the US ‘keeps trying to cap visas for Indians’
Harbir K Bhatia, CEO of the Silicon Valley Central Chamber of Commerce, highlighted the significant role of skilled Indian immigrants in America's tech industry, stating that the sector heavily relies on them for innovation and talent. She emphasized that Indians excel in various professions, including technology, farming, and healthcare.
Phenomenal job by PM Modi in making India rise on world stage: Silicon Valley entrepreneur
"Objectively speaking, when you look at the sentiment in India or the sentiment globally about India, the only observation you have is that Mr Modi is doing a phenomenal job of making India rise again on the world stage," Sandeep Bhat, the co-founder of Devicethread, a startup aimed at revolutionising the hospitality industry by connecting digital and physical infrastructure, told PTI in an interview.
America's tech industry cannot survive without Indians: SVC Chamber of Commerce CEO
Located in Santa Clara, the hub of Silicon Valley, the Chamber of Commerce is made up of a group of visionary business leaders from multiple cities that help grow and shape the future of Silicon Valley.
Indian EV startup makes offer to interns spurned by Elon Musk
Pravaig Dynamics offers support to Tesla interns after Elon Musk's cost-cutting, inviting them to the Silicon Valley of India to recognize their talents amid concerns about job cuts and logistical challenges.
America's tech industry cannot survive without Indians: SVC Chamber of Commerce CEO
"India(ans) are one of the largest leaders of innovation in Silicon Valley. At one point, ... the data was collected (according to which) 40 per cent of Silicon Valley CEOs or founders were from South Asia or India. That is so huge," Harbir K Bhatia said.
'Enjoying Bengaluru rains in Dubai': Netizens react as UAE sees heavy rains for second time in 2 weeks, while India's Silicon Valley scorches
UAE faced heavy rains with safety advisories, school closures, and work-from-home orders. On the other hand, Bengaluru is witnessing record temperatures. Severe rains in UAE and Oman had caused floods and casualties last month
Customer loyalty startup Reelo raises $1 million from Silicon Valley investor Gokul Rajaram
Ahmedabad-based startup Reelo, backed by Gokul Rajaram, raised $1 million. In addition to loyalty programmes, Reelo offers customer acquisition solutions like referral programmes and smart QR codes.
Karnataka CM Siddaramaiah slams PM Modi over 'tech city to tanker city' remark
Training his guns at Modi, Siddaramaiah asserted that former Chief Minister B S Yediyurappa and some of his cabinet colleagues were jailed due to denotification and land grab cases during the BJP rule from 2008 to 2013. The CM also said that the previous BJP government allegedly collected '40 per cent commission' from contractors for executing projects.
Banks seek flexible reserve norms as RBI weighs risks
Lenders have asked the RBI to permit the compulsory portion of funds set aside for the maintenance of the Cash Reserve Ratio (CRR) to be made eligible as High Quality Liquid Assets (HQLA) for the purpose of computing Liquidity Coverage Ratio (LCR), sources aware of the developments told ET.
RBI to revisit LCR framework in bid to shield banks from run
The central bank will issue a draft circular in this regard for comments of all stakeholders. Under the liquidity coverage ratio (LCR) introduced post the global financial crisis, banks are currently required to maintain a stock of high quality liquid assets (HQLA) to cover the expected net cash outflows in the next 30 calendar days.
Shiprocket's cofounder to lead Tribe Capital's first India fund
Tribe Capital's India AIF, led by Vishesh Khurana, aims for local presence with Raj Snehil Juneja. Zomato linked. Emphasis on local partners, capital. Funding round targets exit for early investors.
Bengaluru, India's Silicon Valley, faces a water crisis that software cannot solve
The Silicon Valley of South Asia has a nature issue -- a pain point that software cannot solve. In the sprawl beyond Bengaluru's core, where dreams of tech riches usually grow, schools lack water to flush toilets. Washing machines have gone quiet. Showers are being postponed, and children with only dirty water to drink are being hospitalized with typhoid fever.
Bengaluru water crisis: India’s most innovative cities are running out of water
During the construction of Egypt's pyramids, the Indus Valley civilisation thrived with advanced cities, art, and undeciphered writing. Now, a drought is driving tech professionals away from Bengaluru, as water shortages worsen in southern India. The region's economic importance and political challenges make addressing water scarcity crucial for its future prosperity and global impact.
Silicon Valley’s South Park Commons set to open India outpost with Flipkart’s Binny Bansal
Ruchi Sanghvi and Aditya Agarwal, through South Park Commons (SPC), aim to support entrepreneurs globally, with a focus on India. Their unique approach involves nurturing ideas even before company formation.
Silicon Valley’s SPC plans India outpost; Holi spike for quick-commerce
Happy Tuesday! San Francisco-based South Park Commons is working with Flipkart’s cofounder Binny Bansal on its India expansion. Details on this and more in today's ETtech Morning Dispatch.
DryLuru: India’s Silicon Valley either looking up at the skies or awaiting tankers for water
India’s technology city is either looking up at the skies or awaiting tankers for water. Since Cauvery alone cannot fulfill Bengaluru’s water needs, experts say the city needs an approach integrating multiple sources for long-term solutions. What happened earlier this month is just a warning.
India looks for new Bengalurus as its Silicon Valley goes downhill
Bengaluru's severe water crisis and traffic congestion are prompting tech giants to consider relocating from the $245 billion IT hub. The city's civic challenges may impact India's IT industry landscape, compelling companies to explore emerging cities.
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