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India Startup

Submitted by Navin Pathak (Yahoo) on Mon, 01/22/2018 - 5:34pm.

Today's top news & stories of the Indian startup ecosystem.

▶ Nexus Venture Partners, is expected to raise its fifth fund targeting a corpus of $350Mn-$400 Mn.

▶ Paytm has launched the Paytm for Business app on Android Play Store today.

▶ Patiala Court restrains ecommerce behemoth Flipkart from using MarQ label.

▶ Income Tax department asks ecommerce giant Flipkart to Reclassify discounts as capital expenditure. 

▶ Inc42 Exclusive: Skillate has raised an undisclosed amount of funding from Incubate Fund India, and others.

▶ RailYatri has acqui-hired Kochi-based food delivery technology startup,YatraChef.

▶ Goomo has acquired a B2B vehicle rental marketplace WagonBee. 

▶ OptaCredit Fintech Private Limited secures $4 Mn credit line from DMI finance. 

▶ AEON Learning has raised $3.2 Mn in a Series B funding round from MEMG Family Office LLP.

▶ Stating that its 100% committed to India, Uber has dismissed report of its exit from the Indian market as “baseless speculation”. 

Submitted by Navin Pathak on Tue, 01/19/2016 - 5:53am.

startup India action plan by Mr. Modi

 

India's Prime Minister Mr. Narendra Modi launched startup India Action Plan on 16th January 2016.

The following are the keypoints of the startup India action plan for growth of startups in India.

  1. Compliance Regime based on Self-certification
  2. Startup India Hub – A single point of contact for the entire startup ecosystem
  3. Rolling out of a Mobile App & Portal – Starting a Startup in 24 hours on a Mobile App
  4. Fast track mechanism of Startup patent applications
  5. Relaxed Norms of Public Procurement for Startups
  6. Faster Exit for Startups
  7. Rs 10,000 crore Fund of Funds for funding support
  8. Credit Guarantee Fund for Startups
  9. Tax Exemption on Capital Gains
  10. Tax Exemption to Startups for 3 Years (for startups registering after April 1, 2016)
  11. Tax Exemption on Investment above Fair Market Value
  12. Organising Startup Fests for Showcasing Innovation and Providing a Collaboration Platform
  13. Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilisation (SETU) Program
  14. Harnessing Private Sector Expertise for Incubator Setup
  15. Building Innovation Centres at National Institutes
  16. Setting up of 7 New Research Parks Modeled on the Research Park Setup at IIT Madras
  17. Promoting Startups in the Biotechnology Sector
  18. Launching Innovation Focused Programs for Students
  19. Annual Incubator Grand Challenge