Economy likely to grow 6.7% in FY25 due to weaker Q2 performance: Report
India's economic growth is projected to reach 6.7% in 2024-25. This follows a weaker second quarter with slower growth indicators. A rebound is expected in the latter half of the fiscal year, driven by agriculture and government spending. Domestic demand will continue to fuel growth, reaching 6.5% in 2025-26 and 2026-27. Key Points
Economic Timesstartup Mahakumbh | Deeptech startup policy in final stages of consultations: DPIIT secretary
DPIIT secretary discusses deeptech startup policy at startup Mahakumbh event with thousands of participants and supporters. The event aims to boost the startup ecosystem with various stakeholders involved. Key Points
Economic TimesEV startup Vidyut raises $10 million
India Business News: Vidyut, a full-stack EV ecosystem startup, has raised $10 million in a Series A round. The startup aims at facilitating easier EV ownership for small and large businesses by offering solutions such as EV insurance, lifecycle management and EV resale. Key Points
Times Of IndiaCanada, Dubai, Ireland: The new startup visa destinations for young entrepreneurs
Young entrepreneurs, grappling with funding shortages and talent deficits, turn to startup visa programs in Canada, Dubai, and Ireland. These countries offer streamlined processes, minimal investment requirements, and perks like funding and support. Canada's startup Visa Program grants permanent residency with no investment requirement. Key Points
Economic TimesEight years of startup India: Is it really a runaway success?
We should adopt a more comprehensive set of measures to track how well this vital scheme is doing. A good dashboard will allow global comparison and help us reshape policy if need be. Key Points
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Year-Ender 2023: Notable executives take entrepreneurial plunge into startup abyss this year
2023 saw a decline in global venture funding for Indian startups, but high-profile executives still entered the startup world in sectors like fintech and healthcare. Top executives like Sachin Kataria, Dale Vaz, and others left their lucrative jobs to launch their startups in 2023. Key Points
mintChicken feather plastics, temple flower foam—IIT Kanpur is changing India's startup scene
IIT-Kanpur's startup Incubation and Innovation Centre (SIIC) has been leading the innovation race. The centre is connecting entrepreneurs and scientists to funders while providing infrastructural support. Key Points
ThePrintWinners of The ET startup Awards 2023 to be feted today, and other top tech, startup stories this week
The Economic Times startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses. Key Points
Economic TimesGovt’s role in startup ecosystem is of facilitator, not regulator or administrator: Piyush Goyal
“Our role will always be of a facilitator. I dont see the government becoming an administrator or a regulator of this sector,” Goyal said, adding that if at all there are issues, then the solutions would need to be found through self regulation. Key Points
Economic TimesPM Modi to advocate startup culture at July 4 SCO Summit
Ahead of the summit, India organised a meeting of SCO startup Forum, which has essentially been an Indian initiative since 2020. The forum aimed to expand startup interactions among the SCO member states and encourage innovation, employment generation, and talent building, an official said. Key Points
Economic Times
Fintech sector grapples with heightened scrutiny, and other top stories this week
As things stand, it is no wonder that fintechs have been shopping around to acquire an NBFC licence. Cred acquired Parfait Finance in November 2021 and BharatPe acquired Trillionloans, a Mumbai-based NBFC, in March. Key Points
Economic TimesBengaluru startup looking for a chief meme expert, offering 1 lakh per month salary: details here
A Bengaluru-based startup is looking for a meme expert and is ready to offer a compensation of 1 lakh per month. Not just that, the startup is also offering a free iPad to whoever refers the right candidate. Key Points
India TodaySilicon Valley Bank fallout spreads around the world as UK firms plead for help
Silicon Valley Bank s UK unit is set to be declared insolvent, has already ceased trading and is no longer taking new customers. startup founders are panicking about accessing money and paying employees. Key Points
Economic TimesNo NCLT stay on Byju's Friday EGM; reality check for laid-off startup CXOs
Four investors — led by Prosus — moved the NCLT, seeking a stay on the planned EGM to effectively block the rights issue. The matter will now be heard on April 4. Key Points
Economic TimesOpenAI CEO Sam Altman says he took a year-long break and went to an ashram after selling his first company
Sam Altman developed Vitamin C deficiency after working way too hard on his first startup. After selling the company, the OpenAI CEO took a year-long break in order to focus on his health. Key Points
India Today
‘Governance creates value in long run, not branding’
Discover why governance plays a crucial role in creating long-term value for startups over branding. Learn from India's G20 Sherpa Amitabh Kant's insights at the startup Mahakumbh event. Key Points
Times Of Indiastartup recap from Union Budget 2023: What entrepreneurs expect from FM Sitharaman's interim Budget 2024?
India has emerged as the third largest ecosystem for startups globally with over 116,679 recognized ventures across the country. However, startup funding in India has declined to a five-year low figure in 2023. Key Points
mintEcommerce not clicking as it did post pandemic; Namma Yatri daily rides in fast lane
After a pandemic-fuelled surge in online shopping, the industry is seeing moderate growth over the past few months. We have a detailed story on the state of play in the e-commerce market. This and more in todays ETtech Morning Dispatch. Key Points
Economic TimesAI could help determine who gets laid off
ChatGPT can already write a generic layoffs memo, and Microsoft Corp. is planning to roll out its 365 Copilot to Excel, which could serve as an aid in financial planning. Now a French startup called Pigment SAS is testing a generative AI tool expressly for chief financial officers. Key Points
Economic TimesBluSmart Mobility, EV-only Uber rival raises $42 million in BP-led round
BluSmart Mobility, an Indian ride-hailing startup that uses only electric vehicles, has raised $42 million as it intensifies its battle against the two dominant operators, Uber Technologies Inc. and Ola Cabs. Key Points
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Prosus says India's Byju's 'regularly disregarded' former director's advice
Prosus NV (PRX.AS), an investor in Indian educational technology startup Byju's, said on Tuesday that the troubled company's directors "regularly disregarded advice" despite repeated efforts by the Dutch-listed technology firm's former director. Key Points
ReutersByju’s breaking bad: Will Indian startups feel the aftershocks, and other top stories this week
“Are you really surprised? an edtech founder said, implying that industry executives have seen this blow-up coming for a while. “This will have an impact on other startups, especially in the current market where money is tight,” the entrepreneur said. Key Points
Economic TimesEV-only Uber rival BluSmart raises $42 million in BP Ventures-led round
Investors include BP Ventures, the investment arm of energy giant BP Plc that holds 20% equity. BluSmart is currently valued at $250 million. Key Points
FinancialexpressFourth edition of Shanghai Cooperation Organisation startup Forum held in New Delhi
New Delhi [India], March 21 (ANI): The fourth edition of the Shanghai Cooperation Organisation (SCO) startup Forum was organized here in New Delhi earlier this week. The initiative focused on broadening startup interactions among the SCO Member States, fostering an environment conducive to innovation, promoting job creation, and inspiring young talent to develop innovative solutions. […] Key Points
ThePrintWho is Grecia Munoz? Zomato CEO Deepinder Goyal's second wife
Zomato CEO Deepinder Goyal has married former model Grecia Munoz, who is also an entrepreneur. The couple returned from their honeymoon in February. Munoz, originally from Mexico, now resides in India and is involved in television hosting and running her startup focusing on luxury consumer products. Goyal, a prominent figure in India's startup scene, had been in a relationship with Munoz for some time. This marks his second marriage. Goyal founded Zomato in 2008 and recently announced plans to launch a 'pure veg' service in response to customer feedback, which generated some controversy. Key Points
Economic TimesMaruti Suzuki invests in machine learning, artificial intelligence startup Amlgo Labs
New Delhi [India], March 23 (ANI): Automaker Maruti Suzuki lndia has invested about Rs 1.99 crore in Amlgo Labs Private Limited, a technology-led startup. The startup operates in the area of data analytics, cloud engineering, machine learning (ML) and artificial intelligence (Al), to assist companies in data driven decision making. With this, Maruti Suzuki will […] Key Points
ThePrintDeep tech startup policy in final stages, says secy
Discover the latest updates on the final stages of the deep tech startup policy by the government. Get insights from Secretary Rajesh Kumar Singh at the DPIIT. Key Points
Times Of IndiaHigher educational institutes create ‘Agri-Consortium’
Indian higher educational institutes (HEIs) have joined together to form an 'Agri-Consortium', led by IIM Kashipur. The consortium aims to provide a platform for academics, researchers, students, and industry professionals to discuss trends and advancements in agriculture. The participating institutions have agreed to share startup databases, disseminate support programs, and share best practices. Key Points
Economic TimesDMI, Aditya Birla Finance in race to scoop up ZestMoney in firesale
ZestMoney, which was offering buy-now-pay-later (BNPL) loans to customers at ecommerce and offline checkout points, had around December 5 informed its employees about its plans to shut down by the end of this month. ET wrote on December 7 the company shut down mostly after its lending partners withdrew debt lines to the startup. Key Points
Economic TimesBengaluru software engineer earning Rs 58 lakh pens note on loneliness
The post has gone viral on social media, with many others sharing similar experiences. Amit Mastud, Co-founder and CTO of Upscale, advised him to join a startup or start something of his own, seeing that it could be an energizing and valuable experience. Other Twitter users shared their experiences and expressed empathy towards the software engineer. Key Points
Economic Times
Tech Layoffs in 2023 Are Feeding a New startup Surge
Hundreds of thousands of workers lost jobs at Google, Meta, and other giants in recent months. Some are deciding to build their own companies. Key Points
WIREDShaping Indian startups: Top 10 women investors to watch out for in 2024-25
New Delhi [India], April 24 (ANI): The world is celebrating ‘International Girls in ICT Day 2024’ on April 25 this year. Although women now fill 40 per cent of high-skill occupations globally, their participation in ICT-related fields continues to be low. India, which has the world’s 3rd largest startup ecosystem, has seen exponential growth in […] Key Points
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