STARTUP GOVERNANCE
Budget 2024: Will Budget remove the ‘killer’ angel for the sake of Indian startups?
Budget expectations for startups: Ahead of the Budget 2024, the DPIIT has proposed eliminating the Angel Tax for startups to boost capital formation. The department also aims to address the inverted duty structure and high tariffs on electronics inputs. The 'angel tax' issue has sparked political debates, with industry leaders and organizations urging its removal to facilitate startup investments. Startups will await Budget announcements with hopes for measures on angel tax.
On A(I) Mission, Centre may go with Indian intel
GPUs are currently a precious resource for the AI industry and are manufactured only by a handful of American companies like Nvidia, Intel, and AMD. Sources said Indian data firms can procure GPU units and then provide them to local firms, startups, academics and researchers at a subsidised rate, for all use cases.
Rise & rise of secondary deals; advantage desi data centres
Happy Friday! Total funding raised by Indian startups fell in the first half of 2024, but late-stage activity showed signs of revival, as per data. Decoding this and more in today’s ETtech Morning Dispatch.
Karnataka losing out in manufacturing race; CXO churn in startups
New-age companies are choosing to set up manufacturing facilities in neighboring states like Maharashtra and Tamil Nadu, bypassing Karnataka. More on this in today's ETtech Morning Dispatch.
Maharashtra's economic survey 2023-24: Shinde government spurs robust growth and recovery
The economic survey of Maharashtra for 2023-24 revealed a positive economic outlook under the Shinde government compared to the previous Maha Vikas Aghadi administration. The survey showcased growth in GSDP, FDI, and entrepreneurship. Maharashtra's GSDP growth outpaces Gujarat, FDI attraction has surged, and entrepreneurship is thriving with the highest number of startups in India. The survey also highlighted progress in social welfare, agriculture, financial assistance to farmers, infrastructure development, and increased allocation for women's education.
Probe finds Byju’s failed investors but didn’t commit fraud
Byju's governance lapses led to financial troubles, legal battles, and Raveendran's efforts to innovate and manage debts for the ed-tech company's survival.
- Go To Page 1
Govt seeks bids from colleges, universities for help on Bhashini proliferation
The government is calling on universities and independent startup incubators to develop strategies to boost the use of Bhashini, its natural language processing tool. The IT ministry has asked the bids to be submitted by July 10.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
Commerce Ministry may seek more funds for startups in forthcoming Budget
The Commerce and Industry Ministry plans to request additional funds for startups in the upcoming Budget to boost innovation. A new scheme may replace the current seed fund program, set to conclude in 2025. The government aims to support early-stage entrepreneurs and promote deep tech startups to address societal challenges.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
The startup story's just starting
For India to ascend to the summit of the world's leading startup ecosystems by 2030, it demands dynamic policies from the incoming government, nurturing a vibrant culture of innovation, and concerted collaboration among all stakeholders. With the requisite elements already in place, including the impressive growth and resilience shown by current startups, valuable lessons abound for budding entrepreneurs. By adopting a progressive outlook centered on enduring, sustainable, and conscientious advancement, our startup ecosystem has the potential to evolve into a remarkably innovative, inclusive, and globally sustainable entity.
What happens to India's startups with a coalition government at the Centre? Here is what they want
As a new coalition government gears up, startups call for clearer regulations, simpler relocation processes to India, and a more straightforward legal framework. Tax department's approach, including issues like angel tax and GST notices, concerns the industry. Simplified registration, advocated by Perfios CEO, could boost startups. Fintech sector seeks tiered MDR for UPI.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Stage set for new government to press on next-generation reforms
India will continue to be the world’s fastest-growing economy and the Indian-corporate world has its hopes up as it expects the next government to continue on the reform path and steer the Indian economy towards high growth.
FAME 3 rollout soon; Euler Motors fundraise
The next edition of the electric vehicle incentive scheme is likely to be unveiled within months of the new government taking charge. Details on this and more in today's ETtech Top 5.
Why does India have the first mover advantage in Web3 technology?
While regulatory clarity remains a work in progress, India's embrace of the Financial Intelligence Unit (FIU) registration requirement is a positive step, creating a safer trading environment for all.
Numaligarh Refinery, Oil India setting up several compressed bio-gas plants in north east
Collaboration with Urban Local bodies for municipal solid waste collection has been initiated, said C&MD, OIL and Chairman NRL Dr. Ranjit Rath while speaking as at the Technical Symposium on ‘Creating Wealth from Waste: Role of Startup and New Enterprises’ organized by Pollution Control Board of Assam in Guwahati.
Vivek Bindra announces program for 100 selected startups to help them become IPO-ready
The number of startups in India has surged from 400 in 2016 to approximately 1.14 lakh. To promote startups Vivek Bindra has announced a program to aid startups in achieving IPO listings. With support spanning funding, technology, and marketing for 30 months, the initiative aims to propel 100 selected companies towards IPO readiness.
Govt needs to boost financial support to startups: Snapdeal founder
Conversations over boosting supply of capital to homegrown startups have come at a time when the startup ecosystem is experiencing a major slowdown. According to Infosys cofounder S Kris Gopalakrishnan, there is significant wealth in the country and family offices or fund managers should allocate at least 15% of their investments to the startup ecosystem as a thumb rule.
Govt ready to fund 50% cost of creating 10,000 GPU capacity in India: Meity secy S Krishnan
The Centre is willing to spend up to half of the cost of creating computing capacity of up to 10,000 graphic processing units (GPUs) in a push to the National Artificial Intelligence (AI) mission, funding can be done either through viability gap funding or a voucher based system
Combating dark patterns; declining VC funds for female founders
Happy Thursday! The government will soon release a tool to help consumers fight manipulative ‘dark patterns’ used by websites. This and more in today’s ETtech Morning Dispatch.
Murthy & Kris want next govt to ease way for entrepreneurs
Infosys founder NR Narayana Murthy said no country has solved the problem of its poverty without encouraging its entrepreneurs. Gopalakrishnan said the new government at the centre must push for more public and private spending on research.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
CII brings out new corporate governance charter for startups
CII launched a corporate governance charter for startups, including a self-evaluative scorecard. The tool allows startups to measure their governance progress, with score changes indicating improvements in governance practices as assessed against the scorecard from time to time.
Load More
