Photo: The Indian Express
Under Credit Guarantee Scheme For Startup, Rs 10 Crore Loans Allowed
With the announcement of the Indian government's credit guarantee scheme for startups (CGSS) many companies will get. The CGSS scheme will provide credit guarantees of up to Rs 10 Cr against startup loans that lending institutions issue. Under this scheme, the government aims to offer the said credit guarantee (for startups) to lending institutions including banks, financial institutions, NBFCs and alternative investment funds (AIFs).
Tags: Start-up, Indian government, Credit Scheme, business, Loan Scheme
Courtesy: INC 42
Photo: The Indian Express
Union Govt Launches Credit Guarantee Schemes For Startups In India
In order to extend support to start-ups in India, the BJP-led Central Government announced "Credit Guarantee Scheme". On October 7, the Commerce Union Minister Piyush Goyal said, "Government enables eligible companies to borrow collateral-free money up to Rs 10 crore making sure they reach their true potential,." The move will help micro businesses and start-up establishments to not only take risks but, provide guaranteed loan schemes.
Tags: Credit Guarantee Scheme, Piyush Goyal, Startups, Indian Business, innovation
Courtesy: The Free Press Journal
Photo: The Indian Express
US DFC To Invest $37.5 Million In Indian Businesses To Support Economy
The US International Development Finance Corporation (DFC) recently announced to invest $37.5 million (Rs 299 crorea) to support key sectors in India. The investment is expected to fuel the growth of businesses working in sectors like financial services, agriculture, healthcare, and climate. The company announced the investment in their current FY Quarter, as a form of political risk insurance product and financial instrument for various… read-more
Tags: Indian Startups, Investment, us company, DFC, Indian Economy
Courtesy: First Post
Photo: Outlook India
Odisha CM Naveen Patnaik Launches ‘Startup Odisha Yatra 2.0’
Odisha CM Naveen Patnaik has launched the “Startup Odisha Yatra 2.0” initiative, aimed at promoting entrepreneurship among youth. This flagship initiative also aims at scouting grassroot innovators and women entrepreneurs. The Yatra is expected to cover around 100 educational institutions across 30 districts, in a period of 60 days. “The state has a mission of 5,000 startups by 2025,” said CM Patnaik.
Tags: naveen patnaik, Startup Odisha Yatra, Odisha, Bhubaneswar, Entrepreneurship Campaign
Courtesy: ANI
Photo: Deccan Herald
Rapido Hopes To Generate $300 Million Income In Fiscal Year 2022-23, Seeks Collaboration With State Govts
Rapido, bike-taxi aggregator, is aiming for $300 million in revenue in fiscal year 2022-23. Rapido, founded in 2015 by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR, operates in over 100 locations across India. It is now looking forward to collaborating with several state governments in order to assist metro commuters and provide additional services. Rapido presently has over 3 million bike-taxi riders and over 3 lakh drivers in auto… read-more
Tags: Rapido, Central Government, revenue, FISCAL YEAR
Courtesy: DNA INDIA
Photo: The Machine Maker
25-Year-Old Entrepreneur Uses Solar Dryers To Help Farmers Decrease Waste
According to Varun Raheja, Founder of Raheja Solar Food Processing Pvt Ltd, the global market for dried fruits and vegetables is presently worth $70 billion. In 2019, the 25-year-old Indore entrepreneur founded his own firm. Solar drying technology is one example of how freely accessible energy may be used to assist farmers. The company is supplying farmers with low-cost, do-it-yourself foldable solar dryers to make value-added items from… read-more
Tags: entrepreneur, Farmers, Waste management, solar dryers
Courtesy: Your Story
Photo: VCCircle
Softbank Founder Cautions Startups, Unicorns To Prepare For Challenging Fundraising Winter
Founder and CEO of Japanese investment firm Softbank, Masayoshi Son, cautioned unicorns and startups to brace themselves for a hard fundraising winter. Son stated that unicorn executives "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think." The winter for publicly-traded firms is still… read-more
Tags: Softbank, Startups, unicorns, fundraising, japanese
Courtesy: Free Press Journal
Photo: Business Headers
'Basys.ai,' Harvard-Based Healthtech Startup, To Enter Indian Market Using Patented AI Technology
Basys.ai, Harvard-based health-tech startup founded in 2020 by Amber Nigam and Jie Sun, claims its in-house technology would aid enhance doctors' clinical decision-making in controlling their patients' metabolic health. To deploy its platform, the business has begun conversations with healthcare providers in India through Ayushman Bharat Digital Mission. Amber claims as… read-more
Tags: Artificial Intelligence, Health technology, Startups, harvard, INDIAN MARKET
Courtesy: Your Story
Photo: Startup Talky
Fintech Start-Up Caters Teen Audience For Finance Management
Muvin, teen-focussed pocket money, digital finance, and neo-banking apps have been in a rage, giving a new direction to the fintech sector in India. The startup by Vineet Gupta and Mukund Rao focuses on finances for teenage, instead of catering adult population. The company aims to make students financially savvy, teach them money management skills, and remove the complexities from “finance”. The company raised $3 million in pre-series… read-more
Tags: students, Start-up, Finances, Money Management, Muvin
Courtesy: Your Story
Photo: Your Story
Kiko Live Platform Of Retailers To Soon Available On ONDC Network In India
Kiko Live, a platform for retailers in India has announced to be onboarded on ONDC and plans to be available on the ONDC platform by September 2022. Kiko Live, a platform for small neighbourhood retailers to be available on the ONDC network, provides potential business growth to millions of small retailers across India to be visible across the platform and to sell digitally, empowering small shop sellers.
Tags: Start-up, Kiko Live, Retailers In India, Online Platform, business
Courtesy: Press Trust of India
