Aim to bring India in global top 50 for ease of doing business, says PM Narendra Modi

  • Prime Minister Narendra Modi on Friday said he aims to raise India’s ranking in ease-of-doing-business to top the 50 in the next five years from the current ranking of 77.
  • Calling traders the ” backbone” of the Indian economy, PM Modi said, ” You do not just run business.
  • The prime minister said he always believed that traders are also ” meteorologists” .

Read full article: dnaindia.com

11 Indian Startup News Stories You Don’t Want To Miss This Week [15-20 Apr]

  • The Reserve Bank of India (RBI) has now released a draft ‘Enabling Framework for Regulatory Sandbox’ that will allow fintech startups to test within a regulatory sandbox (RS).
  • On April 10, the Delhi High Court banned nearly 30 torrent websites whose content was violating the copyright of film production companies such as Twentieth Century Fox and UTV Software Communication Ltd.
  • The case was filed by UTV Communications and Twentieth Century Fox, seeking directions to ban torrent websites, such as RARBG, YTS, ExtraTorrent and Pirate Bay, which were contain links to torrents of original content produced by them.
  • According to a Billboard report Amazon has entered into discussions with record companies to launch a free, ad-supported music service, which could be launched as early as next week.
  • Hearing a lawsuit filed by Delhi-headquartered film entertainment company PVR Cinemas, the Delhi High Court has asked Justdial to restrain from using the registered mark PVR or any deceptive variant thereof which is identical or similar to PVR in respect of meta-tags in any manner.
  • Hong Kong-based coworking startup, Garage Society announced its plans to launch new coworking spaces in three new locations across Gurugram.

Read full article: inc42.com

Movers And Shakers of The Week [15-20 Apr]

  • In India, the Fairwork study was focussed around 12 major internet companies including Flipkart, Dunzo, Bigbasket, Zomato, Swiggy, UrbanClap, Housejoy, Rapido, UberEats, Uber, Ola and Foodpanda.
  • The companies were ranked on the basis of five parameters including fair work, fair conditions, fair contracts, fair management, and fair representation.
  • Further, another bang in the Indian startup ecosystem came with a Moneycontrol report saying that a new CEO is likely to replace Flipkart’s CEO Kalyan Krishnamurthy soon and a formal announcement is expected around Walmart’s shareholders’ meeting in the first week of June.
  • Kumar comes with nearly two decades of in-depth industry experience and has previously been associated with Rediff.com, Reliance Entertainment, Times Business Solutions, EazyDiner, and ApnaPaisa alongside others.
  • Bengaluru-based India Electronics and Semiconductor Association (IESA), industry body representing the Indian Electronic System Design & Manufacturing (ESDM) industry today, announced the appointment of its new Executive Council (EC) for the year 2019-20 with Jitendra Chaddah, senior director, operations and strategic relations, Intel taking over as the Chairman.

Read full article: inc42.com

Funding Galore: Indian Startup Funding Of The Week [15-20 Apr]

  • This week one of the biggest funding came to Bengaluru-based wealth management startup Kuvera, which raised $4.5 Mn in Series A funding from UK-based venture capital company Eight Road Ventures .
  • In all this week, 10 startups raised $18.25 Mn funding and two startup acquisitions took place in the Indian startup ecosystem.
  • Increff raised $3 Mn from Flipkart cofounder Binny Bansal and venture capital  company 021 Capital.
  • WhiteHat Jr : Mumbai-based AI-centric edtech startup WhiteHat Jr raised $1.3 Mn in a seed funding round from Nexus Venture Partners and Omidyar Network India.
  • AtomX : Pune-based payments solution startup AtomX raised an undisclosed amount from BookMyShow.

Read full article: inc42.com

Post acquisition, AHA Taxis eyes Tier II and Tier III cities in India as its next destination

  • AHA Taxis was started by three friends Shivam Mishra, Amit Grover, and Kunal Krishna.
  • Launched in April 2015, Noida-based AHA Taxis is a one-way cab service provider for outstation purposes across India.
  • We were already using AHA as one of the outside vendors to whom we would handover inter-city cab travel, because of the efficiency and pricing provided by AHA.” Currently, AHA Taxis is a 50-member team, and claims to be present in over 4,500 cities across India, serving over one lakh routes.
  • The outstation taxi service provider’s average ticket size is Rs 2,500, and its per km price comes down to an average of Rs 9-10, including the surcharge, toll-tax, and other charges.
  • Shivam says, 50-60 percent traction comes from these websites, and 40 percent from the AHA Taxis website.

Read full article: yourstory.com

Uber Warns Investors Its Focus On Self-Driving Vehicles Could Be Risky

  • If rival companies are able to develop self-driving vehicles on a grand scale before Uber does, it could put everything from Uber’s ride-hailing service to its food delivery service at risk.
  • ” We have invested, and we expect to continue to invest, substantial amounts in autonomous vehicle technologies,” said Uber representatives.
  • If any of these rivals manage to scale up self-driving technology before Uber, the startup’s business as a whole could be at risk.

Read full article: clarecountyreview.com

UAE startup ecosystem unlocks regional talent

  • The world has set eyes on the UAE and it only gets now more prominent when the very powerful hub like Techstars with a network of 1,600 companies with a market cap of $17 billion under Techstars accelerator portfolio consolidates its operations in Dubai.
  •  Sharing insights of the second batch of startups, tech-savvy Tirathrai, said: ” In the second year of the programme, we attracted more mature businesses which is a testament to the appeal of not only the programme, but of Dubai as a startup hub.
  • During the 13-week accelerator programme, the 10 companies worked closely with more than 90 mentors from the Dubai’s ecosystem and beyond to further develop their business models, go-to market strategies and scale.
  • Over the past 13 weeks our founders raised capital, shipped product, and built incredible businesses that we look forward to supporting along their entrepreneurial journeys” said Mohammed Gheyath, CEO of GINCO Investments.

Read full article: khaleejtimes.com

Scriptifi Optimises Hiring For Employers By Blending AI With Human Insights

  • Technologies such as artificial intelligence (AI) and machine learning (ML) have opened up many new possibilities for human resource managers and recruitment businesses.
  • These platforms connected employers with the potential candidates through a keyword-based algorithm, but that’s fast becoming archaic, because of resume spamming and keyword stuffing, which in turn increased the hiring time, process and effort for recruiters.
  • Scriptifi is charting its course with this in mind – the startup is combining machine intelligence with human oversight to offer a faster way for recruiters and employers to find the right talent.
  • ” Recruitment process is extremely fragmented and there is a huge scope of bringing in efficiencies across the entire chain of the recruitment process and redefine the speed, quality and cost of hiring, which is where the dynamics of an online recruitment marketplace model can work wonders,” Pranjal Mehrotra, cofounder of Scriptifi told Inc42.
  • Mehrotra said that one of the company’s biggest challenges was to attract quality recruiters,  ” At that time, we envisioned ourselves as a marketplace which is accessible to everyone.

Read full article: inc42.com

Indian Central Bankers Excludes Cryptocurrency Projects from it’s New Startup Fintech Sandbox

  • Indian Central Bankers Excludes Cryptocurrency Projects from it’s New Startup Fintech Sandbox
  • Keeping on the path of resistance, despite bullish reports from the IMF spring powwow ,  and thousands of protestors who hit the streets of Bangalore, Delhi, Mumbai and Hyderabad to protest the Reserve Bank of India (RBI) slamming the doors on cryptocurrency,  has announced  the framework for its fintech regulatory sandbox.
  • advertisement Crypto currency/Crypto assets services Trading/investing/settling in crypto assets Initial Coin Offerings, etc.
  • The central bank seems happy to work with R3 on Blockchain as recently noted in Indian Blockchain Media… as long as they are doing it, not startups.

Read full article: the-blockchain.com

P2P Lending Firms to Get Boost as RBI May Raise Investment Limit of Individuals

  • Peer-to-Peer (P2P) lending firms are likely to get some breather from the Reserve Bank of India (RBI), as the central bank is likely to raise the ceiling on fund infusion from individual investors into these platforms to around Rs 25 lakh from Rs 10 lakh currently, reported Business Standard .
  • According to existing P2P lending guidelines, an individual’s total exposure to P2P lending can not be more than Rs 10 lakh, across all the platforms combined.
  • Currently, through all existing P2P lending platforms, a lender can lend a maximum of Rs 50,000 to a single borrower and the total money lent across all the platforms combined can not be more than Rs 10 lakh.
  • It was in October 2017 when RBI, to limit the risk exposure of individuals, imposed limits on how much can be lent and how much can be borrowed by individuals from P2P lending platforms.

Read full article: indianweb2.com