A Startup Seed Fund is a type of financial support provided to early-stage startups to help them get off the ground and develop their business ideas into viable products or services. It typically involves providing a relatively small amount of capital to cover initial expenses such as product development, market research, prototype creation, and initial
On the occasion of India’s 77th Independence Day and the 117th foundation day, Indian Bank, a prominent Public Sector Bank, has unveiled 10 dedicated startup cells across various locations. S.L. Jain, the MD and CEO of Indian Bank, inaugurated the startup cell in Chennai physically and virtually inaugurated cells in significant startup hubs such as
Bengaluru-based venture capital firm Antler has introduced a new platform in collaboration with Nandan Nilekani (Chairman of Infosys and Ekstep), FIDE (Beckn Protocol), and ONDC (Open Network for Digital Commerce) to support entrepreneurs building on the ONDC. The initiative, named the Antler-ONDC platform, aims to provide founders with access to capital, expertise, and a network
The National Startup Awards, introduced by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce Ministry of India in 2020, aims to recognize and celebrate innovative startups that have made significant contributions across various sectors. The applications for the National Startup Awards 2023 have been open since April 1, 2023, and
Brij Singh, the founder of the Bengaluru-based company, expressed his frustration on Twitter about the difficulties he faced while trying to register his company in India. He mentioned that he found it easier to make progress and learn in the United States within a short period compared to the obstacles he encountered during his attempts
The Central Government of India is making progress in promoting electric vehicles through the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme. The third phase of the scheme, known as FAME III, seems to have a significant financial allocation. The government is considering an outlay of INR 40,000 to INR 50,000 crores for this
The Department-related standing parliamentary committee for commerce in India has recommended easing the criteria for startups to avail benefits under the income tax law. The committee expressed concerns over the underutilization of Section 80-IAC of the Income Tax Act, 1961, which was introduced in 2017. This section allows startups to claim a deduction of up
KRAFTON, INC., a prominent South Korean gaming company known for creating popular games like BGMI (Battlegrounds Mobile India), has announced its plans to invest $150 million in India over the next two to three years. This investment is aimed at nurturing local talent, promoting innovation, and positioning India as a significant player in the global
The Digital Personal Data Protection Bill, 2023, has been passed by the Rajya Sabha. The Bill was supported by Members of Parliament from the NDA (National Democratic Alliance), the Biju Janata Dal, and the YSR Congress Party, after most Opposition MPs staged a walkout. The key provisions of the Bill include establishing norms for digital
Hon’ble Union Minister for MSME Shri Narayan Rane, launched the “Revamped CreditGuarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme” on27.04.2023 at Mumbai. CGTMSE has been provided with an additional corpus supportof Rs. 9,000 crores in the Union Budget for FY 2023-24 to revamp the Scheme and toprovide guarantees for additional Rs. 2 lakh
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