IIM Bangalore startup incubation centre partners with Mphasis support to early-stage social ventures

  • This partnership will help social ventures to build financially stable and sustainable models in various sectors.The Indian Institute of Management (IIM) Bangalore’s startup incubation centre NSRCEL on Wednesday announced that it has partnered with IT services company Mphasis to support early-stage social ventures.This initiative comes as a part of IIM’s Social Venture Incubation Programme aimed at incubating and supporting for-profit social ventures in their early stages.
  • It aims to create a playbook and template for social enterprises incubation.
  • The panellists included Srivardhini K Jha, Young Faculty Research Chair and faculty in the Entrepreneurship area, IIMB; Anuja Master Bose, Philanthropy Strategy Advisor, Villgro Innovations Fund; Srikanth of Mphasis; Sudha Srinivasan, CEO, N/Core; and Vandana Suri, Co-founder, TAXSHE.
  • The discussion was moderated by Dalhia Mani, Young Faculty Research Chair and faculty in the Entrepreneurship area, IIMB.

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Focussed on security, privacy to help users communicate in everyday life: WhatsApp

  • The Facebook-owned company, which has been asked by the Indian government to put in place a mechanism to clamp down fake messages on its platform, also announced its partnership with Invest India to help entrepreneurs and small and medium enterprises expand their businesses.
  • The partnership with Invest India will help WhatsApp in driving awareness about its business tools in around 15 states impacting over 60,000 businesses in the coming months through tools such as Startup India ‘Yatra’ programme and other in-person training events.
  • WhatsApp will invest USD 250,000 as seed funding to the top 5 winners of the ‘WhatsApp StartUp Challenge’ and an additional USD 250,000 will be directed to a select few from the entrepreneurial community to promote their WhatsApp business number on Facebook and drive discovery of their businesses.
  • Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said DIPP is working with the tax department and regulators to ease the rules and laws for startups to support budding entrepreneurs.

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Renewable Energy Gaining Steam

  • Generating energy from renewable sources offers a number of benefits, including reducing our dependence on fossil fuels and diversifying our fuel sources.
  • Moreover, solar and wind power plants have very low operational and maintenance costs and zero fuel costs compared with conventional power plants such as coal, gas or nuclear.
  • While the European Union (EU) has been a leader in renewable energy production in the first half of this decade, the United States and some emerging markets, including China and India, have been trying to catch up in the last few years and seem likely to exceed the EU over the next few years in renewable energy production.
  • So, as renewables gain popularity, traditional producers that generate power from coal and nuclear – especially the merchant power producers in the United States and Europe – have suffered.

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Even as revenue triples, Amazon-backed Capital Float reports a loss of Rs 92 Cr

  • Digital lending startup Capital Float reports 13 percent wider loss in FY18, even as revenue grows triple fold.Bengaluru-based digital lending startup Capital Float has reported a total standalone revenue of Rs 135.10 crore in FY18.
  • This is almost a triple fold growth from its total revenue of Rs 53.84 crore reported in FY17.
  • While revenue grew, the loss almost doubled for the company in FY18 and stood at Rs 92.1 crore for fiscal 2018.
  • Founders of Capital Float: Sashank and Gaurav HindujaAccording to filings, the expense incurred for employee benefits stood at Rs 75.1 crore.

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These startups are applying new-age tech to make cricket more savvy

  • India is the world’s biggest cricket market in viewership, sponsorships and revenues.
  • Every aspect of sport — from player training and coaching to post-match analytics to live broadcast and viewer engagement — is being or stands to be disrupted by technology.
  • Further, based on the application type, the sector is categorised into fan insights and engagement analysis, team management analysis, business operations analysis, video analysis, injury and health assessments, and so on.
  • It has already invested close to $10 million in a couple of early stage Indian sports startups, most of which are working in cricket.As cricket is the country’s biggest sport in terms of viewership, sponsorships and revenues, the predominance of cricket startups is justifiable.
  • YourStory lists a few interesting cricket startups in India.SpektacomBengaluru-based Spektacom Technologies was founded by former Team India cricketer Anil Kumble.

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After Rivigo and Delhivery, meet the highest funded logistics startups in India

  • The logistics industry in India is currently worth $160 billion, and is expected to touch $215 billion over the next two years, according to the Economic Survey 2017-18.
  • Employing 22 million people in India presently, the logistics industry is expected to be the largest job creator in the country by 2022.
  • A bunch of entrepreneurs had seen the opportunity that the sector offers early, with advanced technology as their tool.
  • Founded by Gaurav Jain, with a headstart in 2005, the company has raised $36 million from Asia Climate Partners.

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Bengaluru Gets First Incubation Centre for Women Entrepreneurs

  • Chennai-based shared workspace company for women, WSquare, has established first ever incubation center for women entrepreneurs in India’s Silicon Valley Bengaluru, to help young women entrepreneurs network, provide mentorship, help them brand and ideate their startups.
  • About WSquare, it is itself a women-led facilities startup founded, by Vandhana Ramanathan and Jinal Patel in 2017, in order to provides a Working Desk for Women who are looking for an alternative to work from home or to just work independently.
  • In March 2017, the duo bootstrapped and launched Wsquare , a women-only co-working space in Chennai that helps entrepreneurs and professionals focus on their work without having to worry too much about office-related or domestic chores.
  • WSquare has its shared workspace center in Chennai and now in Bengaluru.

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Stealing The Deals With A Click

  • Industry estimates reveal that Flipkart’s GMV during the current year sale season stood at $1-1.1 billion from $660 million in 2017 whereas Amazon India’s  GMV stood at $700-800 million from $380 million in 2017.
  • RentoMojo, a startup that allows customers to lease furniture, appliances and bikes, is offering its customers flat discounts on their monthly rentals and furnishing an entire house for one lucky winner to make them experience the convenience the company offer in the easiest possible way.
  • Woohoo is projected to clock a 3X growth in gift card transactions during the festive season, Shopping trends have changed drastically over years and now the percentage of people shopping online too has gone up.
  • Digital commerce in India is set to reach Rs 2.37 lakh crore by the end of this year, IAMAI says in a recent report. , Business Manager, Voonik Manager, Bigbasket Sripada adds that Dussehra and Diwali add value to the grocer from categories such as home & kitchen, dry fruits and chocolates.

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