Author: News Desk

Startups looking towards budget Prime Minister Narendra Modi had announced that January 16 will be celebrated as “National Start-up Day” to encourage startups and take the startup culture to the far flung areas of the country. The Union Budget is round the corner and the startups, micro and small enterprise sectors are hoping that Finance Minister Nirmala Sitharaman will deliver a fair budget which supports startups amid the uncertainty caused due to Covid pandemic. There are some recommendations for the government for the upcoming Union Budget 2022-23 from the startup industry. The government should consider extending and expanding the Emergency…

https://youtu.be/P8_VcWF2sGA Tech Mahindra’s second-largest acquisitionTech Mahindra has acquired Com Tec Co IT for 310 million euros. It includes earnouts and synergy linked payouts. It is also investing another 20 million euros in acquiring 25 percent ownership in SWFT and Surance platform. The  acquisitions will strengthen its digital engineering and insurance technology businesses. It is the second-largest acquisition that the company has made after Satyam in April 2010.

https://youtu.be/QCyzhE3-HLE Boost supply chain of electric vehicleTen companies, including Reliance, Hyundai and Ola have applied for the Rs 18,100-crore PLI scheme for advanced chemistry cell (ACC). The companies collectively bid for setting up 130 GWh of cell manufacturing capacity. The scheme is expected to boost the local supply chain of electric vehicles (EV) in India. Reduce crude oil exportsNew Delhi expects the ACC PLI scheme to help reduce crude-oil imports by promoting EVs. It will also increase the share of renewable energy at the national grid level .The  ACC PLI scheme comes with a minimum localisation of 25% within two years before…

https://youtu.be/Ktxyf1VFUkU Flipkart LeapE-commerce firm Flipkart has announced the evolution of its flagship startup accelerator programme, Flipkart Leap. The first phase of the programme has been successfully completed As part of the evolution, the programme will evolve into two – Flipkart Leap Ahead (FLA) and Flipkart Leap Innovation Network (FLIN).Support startupsThe programmes will identify wider and relevant market opportunities for selected startups.They will support the startups through insights, mentorship and funding, helping them scale and build disruptive innovations. Flipkart Leap Ahead will invest in seed-stage startups, having disruptive business models. Flipkart Leap Innovation Network will look at mature startups that have a…

 Will Tesla open its plant in Bengaluru?Karnataka has invited Elon Musk, CEO of Tesla to set up its plant in Bengaluru, considered as the Silicon Valley of India. Murugesh Nirani, Minister for Large and Medium Industries, took to twitter to invite electric major Tesla to start operations from the state.”With over 400 Research and Development centers, 45 plus Electrical Vehicle (EV) startups and an EV cluster near Bengaluru, Karnataka has emerged as the EV hub of India. Mr Elon Musk, Karnataka would be an ideal destination to set up a Tesla plant. Bengaluru is already Tesla’s maiden address in India,”…

 Thrasio-styleThe Thrasio-style startups are those new kinds of startups that specialize in acquiring fast-growing digital-first brands and scaling their products. This was first started by US startup Thrasio, which acquires successful third-party Amazon sellers and gives their founders a lucrative exit. Thrasio was founded in 2018. It made a whopping profit of $100-million in 2020 on revenue of $500 million. Thrasio is valued at $6 billion based on its latest funding round. The firm now manages a global portfolio of nearly 100 brands.  How does it work? There are three step processes followed by Thrasio-style startup. In the first step, the seller…

Indian presence in US A recent study by Ilya A. Strebulaev, a Finance Professor at Stanford University’s Graduate School of Business has found that out of 1,078 founders across 500 unicorns in the USA, 90 entrepreneurs were Indian born. This gives a significant presence of Indian Americans in the country’s startup as well as tech economy. Out of the 44% Non-US born Unicorn founders, the number of India-born founders was the highest at 90. This was followed by the other non-US-born ones from Israel, Canada, UK, and China, with 52,42,31, and 27 founders respectively for these nations. Indians leaving the…

https://youtu.be/4LNrKxKiXcg Blindness hindered the IIT dream, but built a multi-billion dollar business empireMeet Srikanth Bolla, who built a multi-million dollar business empire despite his blindness hindering IIT dream. Relatives and neighbors advised his parents to leave Srikanth, who was born blind, in an orphanage. Some even advised them to let the baby die. Teachers made him sit at the back of the class and ignored him. But Srikanth’s parents fought with everyone for their son and nurtured the same fighting spirit in him. That spirit encouraged Srikanth Bolla to create a business with a turnover of Rs 150 crore. Srikanth’s parents, An…

https://youtu.be/gFJxbDeEq_0 Manali and Goa  popularMajority of Indians prefer to go local and explore domestic destinations. Goa topped the bucket list followed by Manali. OYO Travelopedia, took responses of nearly 3,000 people in December 2021. Safety a concernAs per the survey, 61 percent of Indians would prefer to go local and explore domestic destinations. While  25 per cent would like to try international as well as domestic trips in 2022. 80 percent of respondents said safety continues to be a key concern.

https://youtu.be/__-qaY6gqdA First of its kindYouTube star Jimmy Donaldson popularly known as MrBeast has made $54 million in 2021, according to Forbes. This is the largest yearly earning for any YouTuber in history. He is ranked as the 8th most subscribed-to channel on YouTube. Popular YoutuberHis channel has garnered over 14 billion views for his viral philanthropy videos and elaborate contests. Donaldson’s most popular video, posted in November, was a real-life recreation of “Squid Game”. Following him on Forbes’s list are the YouTubers Jake Paul and Markiplier.