Thursday, June 23, 2016

June 23, 2016 - Government approves Rs 10,000 crore funds for startups

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Blog
Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
I have seen several ambitious companies getting wiped out because Google decided to enter their space. Given its financial and human resource strength, it is difficult to compete with Google head on. But can Google entering your space actually help your company? This article argues that focusing on small businesses as customers can help you survive and overcome the Google onslaught. Large innovators like Google can in fact help validate the market for you.


Digital
Government approves Rs 10,000 crore funds for startups
Government approves Rs 10,000  crore funds for startups - Times of India
The decision was taken in Union Cabinet meeting chaired by PM Modi. This is in line with the 'Startup India Action Plan' unveiled by the govt in January.


Digital
Ola reported loss of Rs 796 crore for FY15, indicating heavy expenditure to gain market lead
Ola reported loss of Rs 796  crore for FY15, indicating heavy expenditure to gain market lead
Ola, which in fiscal 2015 was competing with two major rivals — Uber and TaxiForSure — spent Rs 920 crore on fleet operation costs.


Digital
Dell India MD Sameer Garde joins analytics startup IQLECT as head of strategy
Dell India MD  Sameer Garde joins analytics startup IQLECT as head of strategy - VCCircle
In yet another instance of industry veterans joining startups, former Dell India president and MD Sameer Garde has joined as head of global alliance, strategy and partnership at analytics startup IQLECT founded by former Jabong CTO Sachin Sinha. IQLECT has built a software-converged platform


 


Digital
Amazon India ropes in Fashionara co-founder Arun Sirdeshmukh to head fashion
Amazon India  ropes in Fashionara co-founder Arun Sirdeshmukh to head fashion
Sirdeshmukh joined the company on Tuesday, weeks after his online retailing venture folded up after struggling amid dwindling business and cash crunch.


Digital
PayPal appoints Anupam Pahuja as India head
PayPal appoints Anupam Pahuja  as India head
Global payments firm PayPal has appointed Anupam Pahuja as managing director and country manager for India. Pahuja will be responsible for all aspects of PayPal’s India business, it said in a statement. Pahuja takes over from Vikram Narayan who headed PayPal’s India operations from April 2014


Digital
Infibeam raises investment amount to Rs 60 crore in payment gateway CCAvenue
Infibeam raises  investment amount to Rs 60 crore in payment gateway CCAvenue
E-commerce firm Infibeam Incorporation Ltd has decided to invest Rs 60 crore (around $8.9 million) in Avenues India Pvt Ltd that operates payment gateway CCAvenue. Infibeam’s wholly owned subsidiary NSI Infinium Global Pvt. Ltd has signed a definitive agreement with Avenues India for the investme


Sports
Portugal vs Hungary: Rage and rewards for red-hot Cristiano Ronaldo
Portugal vs Hungary: Rage and rewards for red-hot  Cristiano Ronaldo
Cristiano Ronaldo couldn't believe his teammates in the rearguard had conceded less than five minutes after he got his first Euro 2016 goal.


Sports
Euro 2016: Sad end for Zlatan Ibrahimovic as Belgium advance
Euro 2016: Sad end for Zlatan Ibrahimovic as Belgium advance
Radja Nainggolan's fine shot sent Belgium into the knockout stages and a game against Hungary as they finished second in the standings.


Sports
Barinder Sran holds nerves as India clinch T20I series
Barinder Sran holds nerves as India clinch T20I series
With Zimbabwe needing 21 off final over, Barinder Sran keeps them to 17 as India defend 138 to claim T20I series.


Sports
MS Dhoni hit by bail, continued to keep wickets with ‘blurred vision and pain’
MS Dhoni hit by bail, continued to keep wickets with  ‘blurred vision and pain’
MS Dhoni was hit by a flying bail after he was out bowled during the India innings.



Entertainment
Noomi Rapace joins ‘Prometheus’ sequel
Noomi Rapace joins ‘Prometheus’ sequel
The film starring Michael Fassbender in lead role will release on August 4, 2017.


Entertainment
Selma Blair apologizes for mid-flight outburst
Selma Blair apologizes for mid-flight outburst
According to reports, the 'Hellboy' star was shouting uncontrollably and she later apologized for the incident.


Entertainment
Freida Pinto to receive International Icon award at IIFA
Freida Pinto to receive International Icon award at IIFA
Slumdog Millionaire star Freida Pinto will be honoured with International Icon award at the 17th edition of the gala.


Entertainment
I always had a crush on Brad Pitt: Britney Spears
I always had a crush on Brad Pitt: Britney Spears
Britney Spears says she has always had a crush on "By The Sea" star Brad Pitt.



Telecom
Are telecom firms the govt's golden goose" : Government seems to be least bothered about their financial health
The sector’s debt is at monumental levels, but the government seems to be least bothered about its financial health and is treating it as a golden goose

 


Telecom
Reliance Jio LeEco Plan to Disrupt Smart Television Market in India
Reliance Jio LeEco Plan to  Disrupt Smart Television Market in India - Trak.in (blog)
Jio and LeEco, two players with deep pockets, are soon entering the Indian television market with an aggressive pricing strategy and bundled content.


Telecom
The Israeli Answer to WhatsApp Is Big in Eastern Europe
The Israeli Answer to WhatsApp  Is Big in Eastern Europe - and Iraq - Haaretz
Not Waze or Gett but Viber, with its 250 million active users per month, is the most widespread Israeli app used worldwide.


Telecom
Key things to know about India's biggest spectrum auction
Key things to know about  India's biggest spectrum auction - Economic Times
India's biggest telecom spectrum sale is expected to commence from September 1, 2016, after a pre-bid conference early July this year.



Politics
Modi Govt May Grant Citizenship To Two Lakh Refugees This Independence Day. But There's A Catch.
Modi Govt May Grant Citizenship To Two Lakh Refugees  This Independence Day. But There's A Catch.
This Independence Day, hundreds of refugees may be awarded Indian citizenship by the government at the Centre. They only need to be Hindus. The Narendra Modi government, according to reports, is all s


Politics
Swamy Was Silly On Rajan But He Has A Point On Arvind Subramanian
Swamy Was Silly On Rajan But He Has A Point On Arvind  Subramanian
After badmouthing the outgoing Reserve Bank governor Raghuram Rajan, Subramanian Swamy’s new target is the Prime Minister’s Chief Economic Advisor Arvind Subramanian. In Rajan’s


Politics
JNU renames library after Ambedkar, Swamy wonders if varsity will be named after Netaji
JNU renames library after Ambedkar, Swamy wonders if varsity  will be named after Netaji
On Wednesday BJP 'firebrand' leader Subramanian Swamy took to Twitter to opine about the proposed change in name of the Jawaharlal Nehru University's library.


Politics
Swamy vs Arvind Subramanian: There is more to it than meets the eye
Swamy vs Arvind Subramanian: There is more to it  than meets the eye
Swamy's attack on CEA Subramanian is even more significant now since Subramanian is among the top contenders for the RBI Governor post to succeed Rajan.



Finance
SoftBank founder says Nikesh Arora victim of retirement reversal
SoftBank founder says Nikesh  Arora victim of retirement reversal - Livemint
Masayoshi Son described Nikesh Arora an ‘absolutely extraordinary person’ who was a ‘victim’ of his desire to hang on to power a little bit longer


Finance
RBI fixes MSS ceiling at Rs30,000 crore for current fiscal year
RBI fixes MSS ceiling at  Rs30,000 crore for current fiscal year - Livemint
This ceiling will be reviewed when the outstanding balance reaches the threshold limit of `15,000 crore


Finance
Sebi eases currency derivatives rules
Sebi eases currency derivatives  rules - Livemint
Sabi says market participants will have to gradually bring down their open positions to comply with applicable limits within a time period specified by the stock exchanges


Finance
STCG on sale of listed shares will be taxed at flat 15%
STCG on sale of listed shares  will be taxed at flat 15% - Livemint
Short-term capital gain will be computed as the difference between net sale proceeds (after deducting the incidental transfer charges) and cost of acquisition



Logistics
4 arrested at IGI Airport with cocaine inside chocolate wrappers, all are foreign nationals
4 arrested at IGI Airport with  cocaine inside chocolate wrappers, all are foreign nationals - India Today
While the four foreigners have been arrested, police are on the lookout for the main accused.


Logistics
India's Shanghai Corporation Organisation (SCO) membership: It will enhance New Delhi's trade, transport and security depth
India's Shanghai  Corporation Organisation (SCO) membership: It will enhance New Delhi's trade, transport and security depth - Times of India (blog)
While media reports have focussed on the implications of Prime Minister Narendra Modi’s expected meeting with Chinese President Xi Jinping on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tashkent – especially in...


Logistics
Monsoon session likely from July 18, GST on table
Monsoon session likely from  July 18, GST on table - The Indian Express
The Monsoon Session of Parliament is likely to begin on 18 July and end by 13 August, with the government keen to get GST Bill passed in the Rajya Sabha.


Logistics
Air India made Rs one crore profit a day during Y C Deveshwar's tenure was at Rs 333 cr in 1992-'93
Air India made Rs one crore  profit a day during Y C Deveshwar's tenure was at Rs 333 cr in 1992-'93 - Business Standard
While the airline had been a profitable one during 1980s, its net profit doubled to Rs 333 cr in 1992-93 over previous year



Retail
Schedulers Logistics raised Series- B round from GVFL
Schedulers Logistics raised  Series- B round from GVFL - Economic Times
Schedulers was founded in 2012 by industry veterans Akshay Sharma and Colonel Arvind Gangoly. In 2014, Schedulers raised Series A capital from Aspada Investment Company.

Retail
E-commerce in India: Why GMV is not a top metric for e-retailers
E-commerce in India: Why GMV is  not a top metric for e-retailers - Financial Express
Recent interactions with commerce companies operating in diverse segments (e-tailing and online services) led to some interesting observations.

Retail
Metro Cash & Carry goes for new format
Metro Cash & Carry goes for new  format - Hindu Business Line
Model store with specialised sections opens today in Bengaluru

Retail
Amazon launches Bengali and Gujarati language book stores
The etail giant Amazon India has announced the launch of two dedicated online language book stores -- Bengali and Gujarati.


Software
Technology leaders in India continue to turn to startups for investing
Technology  leaders in India continue to turn to startups for investing - Financial Express
Arora, a long-term employee of Google who joined SoftBank in 2014, drove in a great deal of investments into the start-up sector here, giving a good run for the money to Tiger Global's portfolio companies.


Software
How will Craig Wright’s attempts at patenting Bitcoin technology impact everyone?
How will  Craig Wright’s attempts at patenting Bitcoin technology impact everyone?
Craig Wright is attempting to patent the technology that went into the creation of Bitcoin. But how will that impact your life?


Software
Tech Mahindra to acquire UK-based digital technology firm
Tech Mahindra to acquire  UK-based digital technology firm
Tech Mahindra said it agreed to buy UK-based digital technology firm The BIO Agency for an enterprise value of 40 million pounds , as it continues its acquisition spree.


Software
TCS partners with four colleges for creating Big Data talent
TCS partners with four colleges  for creating Big Data talent
The course will be open to graduates in courses like statistics, economics, mathematics and econometrics. There would be about 30 students in the course from each college.



Ecommerce
Olas revenue up from Rs51.50 crore in 2013-14 to Rs418.25 crore in 2014-15; losses jump 20 times to Rs754.87 crore in same year
Olas revenue up from Rs51.50  crore in 2013-14 to Rs418.25 crore in 2014-15; losses jump 20 times to Rs754.87 crore in same year - BW Businessworld
India's leading Cab hailing service Ola has delivered eight-fold jump in revenue at Rs 418.25 Cr in 2014-15comapred to Rs 51.05 Cr in 2013-14. The company has adopted aggressive strategy and has  succeeded in widenig its lead over rival Uber.TaxiForSure which was acquired by Ola, posted a loss of Rs.228.32 crore against revenues of Rs.25.35 crore in FY15. On the flipside, while revenue increased eight times, losses jumped by more than 20 times from Rs.34.21 crore to Rs.754.87 crore during the period.  Ola's revenue jump has been helped by Micro, Ola’s cheapest offering. The service, launched early March, has helped Ola reverse much of last year’s market share loss to Uber and opened up a big gap over the rival. Ola is also experimenting with different models, for instance, it is piloting a car rental service on an hourly basis, in a departure from its business of point-to-point travel.Ola has also started piloting an outstation service in Delhi, a move that will help the company boost revenue as well as use diesel cars on its platform that are banned from plying in the city by the Supreme Court. ALSO READ :  

Ecommerce
Four years and five shutdowns later, a walk through the failed experiments at Flipkart
Four years and five shutdowns  later, a walk through the failed experiments at Flipkart - YourStory.com
E-commerce major Flipkart has discontinued its image search feature on its platform along with its ping, that was primarily a chat facility. Flipkart cited minimal usage by its users as the reason for the discontinuation.

Ecommerce
PayPal appoints Anupam Pahuja as the Managing Director and Country Manager for India
Pahuja was the India MD for SumTotal Systems, among the world's largest eLearning companies, at PayPal, he was instrumental in establishing their tech..

Ecommerce
Revealed, how Chinese government is creating world's largest repository of online data
The Chinese willingness to share is key to China's plan to create the world's largest repository of online data on its citizens and their habits. More than 80% of what's collected is with the government, which will make it largely available for private sector use, Chinese Premier Li Keqiang said. ​


Marketing
Are Short Films the Future of Advertising? : Cannes Lions 2016
Ad Age is the leading global source of news, intelligence and conversation for marketing and media communities


Marketing
5 A/B Tests To Ensure Content Optimization : Letter Perfect
5 A/B Tests To  Ensure Content Optimization : Letter Perfect - CMO
Content, like anything else on your site, can be tested for different variations in order to determine what works best for your specific audience and product.


Marketing

Marketing
It's a joy ride for MNCs in the Indian scooter market
It's a joy ride for MNCs in  the Indian scooter market - Hindu Business Line
CHENNAI: HONDA Motorcycle and Scooter India (HMSI) seems to stumbled onto a brand new revenue channel, at least for a two-wheeler OEM in the country. Customisat...



HR
The Morning Ledger: Musk Eyes Consolidating Empire Under One Roof
The Morning  Ledger: Musk Eyes Consolidating Empire Under One Roof - Wall Street Journal (blog)
Elon Musk has proposed combining the electric-car and solar-energy firms he backs in a $2.8-billion, all-stock deal.


HR

HR
SBI-associates mega merger: Focus shifts to p...
SBI-associates mega merger:  Focus shifts to p... - Forbes India
The merger involves integrating the role and services of 70,000 staff and 7,000 branches; analysts say the process could take up to three years to complete


HR


Construction
Video Conference will be used by Officials to update PM on smart city work in Bhubaneswar
Video Conference will be used  by Officials to update PM on smart city work in Bhubaneswar - ET Realty
The interaction is part of the celebration of first anniversary of the launch of Smart City Mission by the Centre.


Construction
Modest recovery seen in Realty sector in Kochi
Modest recovery seen in Realty  sector in Kochi - ET Realty
The Cochin Chamber of Commerce and Industry (CCCI) carried out the research among 66 Credai members and 65 non-Credai members in Kochi and Aluva.


Construction
Board approves plan to merge Aadhar Housing and DHFL Vysya Housing to be merged into one
Board approves plan to merge  Aadhar Housing and DHFL Vysya Housing to be merged into one - ET Realty
Aadhar Housing chief executive Deo Shankar Tripathi said that boards of both the companies have approved the plan a few days back.


Construction
Govt ignoring key tips on building rules: IIA Goa
Govt ignoring key tips on  building rules: IIA Goa - ET Realty
As per the new rules, residential complexes with 40 flats or more will compulsorily have to set up sewage treatment plants.



Franchise
Franchisee Journey: From prestigious investment firm employees to child care franchisees
Franchisee Journey: From  prestigious investment firm employees to child care franchisees - Entrepreneur
These working mothers decided to help other high-achieving parents with their customer-focused Kiddie Academy franchise.


Franchise
Are your skills and experience adapted to the franchise you’re investing in?
Are your skills  and experience adapted to the franchise you’re investing in? - Franchising
How do you know which franchise is right for you? With nearly 3,000 franchise brands available in 75 different industries, the choices can be mind-boggling. First-time franchisees typically invest a significant portion of their net worth into their new business. They draw from their savings, retirement funds, home equity, and borrow from friends, relatives, and banks for their chance at the American Dream of working for themselves and taking control of their future. It's a huge commitment. For most, failure is not an option.







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