India's startup ecosystem is experiencing a slowdown. For the first time in four years, the country minted fewer unicorns in 2023 compared to the previous year, bringing the total to 67. This comes despite maintaining its position as the world's third-largest hub for unicorns.

Byju's reports biggest decline globally after $22 bn valuation drop

The startup ecosystem has been a success story of India. The vibrant ecosystem supports millions of jobs, and plays a big role in India's growth story. So, what do startups expect from the upcoming budget? We find out in this report.

What start-ups want from India's budget 2024?

A startup based in Greenland is selling what they call the "purest ice in the world." It is harvested directly from the rapidly melting glaciers of Greenland and distributed to upscale cocktail bars in Dubai. This has sparked concerns among some who fear its catastrophic impact on the environment.

Gravitas: Greenland start-up ships glacier ice to Dubai cocktail bars | Netizens ask-Are you joking?

Drug start-up LambdaVision is in the midst of developing the world’s first protein-based artificial retina for patients with genetic blindness, but the unique&nbsp;part of the process? It is being developed in space! The company plans to use microgravity to manufacture the retina, the process of which was hard to get right on Earth.&nbsp;

<h2>World’s first artificial retina</h2>

LambdaVision is developing the first protein-based artificial retina to restore “meaningful vision” for people “who are blind or have lost significant sight due to advanced retinal degenerative diseases, including retinitis pigmentosa (RP) and age-related macular degeneration (AMD),” said the company on their website.&nbsp;

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The drug company was founded in 2009 with the mission to develop a protein-based artificial retina for patients with RP, a genetic cause of blindness and AMD, a leading cause of blindness in people over the age of 55, reported Bloomberg.&nbsp;

However, the manufacturing process of this retina which involves placing 200 paper-thin layers of a light-sensitive protein in a polymer mesh, that has to be perfectly even for it to work properly, is complicated, to say the least, and difficult to execute on Earth.&nbsp;

In late 2018, the company turned to the International Space Station in the hopes that the microgravity there could help, reported Bloomberg. LambdaVision has been working with the ISS, NASA, and Space Tango to explore how microgravity could improve their complex manufacturing process.&nbsp;

<h2>What are the difficulties?</h2>

Earth’s gravity has proven to be an obstacle in LambdaVision’s manufacturing process of the retina. This is because the gravity on Earth can cause particles to settle or liquids to evaporate, leading to imperfections and increasing the instability of the artificial retina.&nbsp;

According to a report by Bloomberg, the company has sent eight experiments to the ISS and so far, the quality of production has dramatically improved.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/science/us-doctors-identify-new-syndrome-in-newborns-exposed-to-fentanyl-study-666770">Cleft palate, fused toes: Fentanyl likely causing certain birth defects in newborns</a>

In space, “you get nice even layers” of the protein with less wasted material, Nicole Wagner, LambdaVision’s chief executive officer told Bloomberg. “The goal is to be one of the first products manufactured in space that would be used here on Earth,” she added.&nbsp;

The protein-based artificial retina would mimic the light-absorbing properties of human photoreceptors and replace the function of the damaged cells in the retinas of blind patients, said LambdaVision, on its website.&nbsp;

LambdaVision’s artificial retina is lightweight and only as big as a paper hole punch, reported Bloomberg, and if everything goes according to plan, it will be ready for human testing in three to four years.

(With inputs from agencies)

Drug start-up LambdaVision is in the midst of developing the world’s first protein-based artificial retina for patients with genetic blindness, but the unique part of the process?

Drug start-up LambdaVision is in the midst of developing the world’s first protein-based artificial retina for patients with genetic blindness, but the unique part of the process? It is being developed in space! The company plans to use microgravity to manufacture the retina, the process of which was hard to get right on Earth. World’s first artificial retina LambdaVision is developing the first protein-based artificial retina to restore “meaningful vision” for people “who are blind or have lost significant sight due to advanced retinal degenerative diseases, including retinitis pigmentosa (RP) and age-related macular degeneration (AMD),” said the company on their website. ALSO READ | Can a rogue star save Earth from its destined extinction? Scientists say... The drug company was founded in 2009 with the mission to develop a protein-based artificial retina for patients with RP, a genetic cause of blindness and AMD, a leading cause of blindness in people over the age of 55, reported Bloomberg. However, the manufacturing process of this retina which involves placing 200 paper-thin layers of a light-sensitive protein in a polymer mesh, that has to be perfectly even for it to work properly, is complicated, to say the least, and difficult to execute on Earth. In late 2018, the company turned to the International Space Station in the hopes that the microgravity there could help, reported Bloomberg. LambdaVision has been working with the ISS, NASA, and Space Tango to explore how microgravity could improve their complex manufacturing process. What are the difficulties? Earth’s gravity has proven to be an obstacle in LambdaVision’s manufacturing process of the retina. This is because the gravity on Earth can cause particles to settle or liquids to evaporate, leading to imperfections and increasing the instability of the artificial retina. According to a report by Bloomberg, the company has sent eight experiments to the ISS and so far, the quality of production has dramatically improved. ALSO READ | Cleft palate, fused toes: Fentanyl likely causing certain birth defects in newborns In space, “you get nice even layers” of the protein with less wasted material, Nicole Wagner, LambdaVision’s chief executive officer told Bloomberg. “The goal is to be one of the first products manufactured in space that would be used here on Earth,” she added. The protein-based artificial retina would mimic the light-absorbing properties of human photoreceptors and replace the function of the damaged cells in the retinas of blind patients, said LambdaVision, on its website. LambdaVision’s artificial retina is lightweight and only as big as a paper hole punch, reported Bloomberg, and if everything goes according to plan, it will be ready for human testing in three to four years. (With inputs from agencies)

A cure for blindness developed in space? That might soon become true

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023.

Notably, Zepto's meteoric rise is further underscored by its recognition in LinkedIn's 2023 Top 20 Indian Startups List, where it has claimed the top spot, cementing its status as a burgeoning leader in the Indian startup ecosystem.

The Founders

At the heart of Zepto's remarkable journey are the founders, Aadit Palicha and Kaivalya Vohra. Hailing from Mumbai, Aadit Palicha took a divergent path from his Stanford University studies, opting to co-found Zepto. His entrepreneurial acumen is not a recent development; Aadit's journey began at the age of 17 when he founded Gopool. He has also made waves in the realm of artificial intelligence, notably through his project Pryvasee.

Similarly, Kaivalya Vohra, Zepto's Chief Technology Officer, also forsook his studies at Stanford University to embark on this entrepreneurial journey. Their collective efforts propelled Zepto onto the esteemed Hurun India's Future Unicorn Index in 2022.

Zepto's journey

Zepto's journey is a compelling narrative of resilience and adaptability. It started its odyssey as Kiranakart, collaborating with local grocery stores to address the soaring demand for swift delivery of essential items, a need magnified by the onset of the COVID-19 pandemic. In November 2021, the company secured $60 million in funding, and the promise of delivering groceries in just 10 minutes elevated its valuation to $570 million. May 2022 marked a watershed moment when Zepto secured $200 million in funding, catapulting its valuation to an impressive $900 million. Zepto further solidified its unicorn status by raising $200 million in a Series E round of funding, attaining a valuation of $1.4 billion. This achievement made Zepto India's first unicorn of 2023.

Future outlook

Looking ahead, Zepto is poised for further expansion, with plans to add 40% more dark stores in the coming year while reducing the time for these stores to turn profitable. The company also harbors aspirations of achieving EBITDA positivity within the next 12 to 15 months while sustaining its impressive growth trajectory.

However, as with any entrepreneurial journey, challenges lie on the horizon. These include the need for continuous funding to fuel their ambitious growth plans and the perpetual quest to maintain a competitive edge in the rapidly evolving quick commerce market.

Zepto's journey is a testament to the agility and innovation embedded in the core of India's startup landscape. Aadit Palicha and Kaivalya Vohra's foray into the grocery delivery market serves as an inspiration, illustrating the boundless potential of founders who navigate the dynamic world of startups.

WATCH WION LIVE HERE

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This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023.

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023. Notably, Zepto's meteoric rise is further underscored by its recognition in LinkedIn's 2023 Top 20 Indian Startups List, where it has claimed the top spot, cementing its status as a burgeoning leader in the Indian startup ecosystem. The Founders At the heart of Zepto's remarkable journey are the founders, Aadit Palicha and Kaivalya Vohra. Hailing from Mumbai, Aadit Palicha took a divergent path from his Stanford University studies, opting to co-found Zepto. His entrepreneurial acumen is not a recent development; Aadit's journey began at the age of 17 when he founded Gopool. He has also made waves in the realm of artificial intelligence, notably through his project Pryvasee. Similarly, Kaivalya Vohra, Zepto's Chief Technology Officer, also forsook his studies at Stanford University to embark on this entrepreneurial journey. Their collective efforts propelled Zepto onto the esteemed Hurun India's Future Unicorn Index in 2022. Zepto's journey Zepto's journey is a compelling narrative of resilience and adaptability. It started its odyssey as Kiranakart, collaborating with local grocery stores to address the soaring demand for swift delivery of essential items, a need magnified by the onset of the COVID-19 pandemic. In November 2021, the company secured $60 million in funding, and the promise of delivering groceries in just 10 minutes elevated its valuation to $570 million. May 2022 marked a watershed moment when Zepto secured $200 million in funding, catapulting its valuation to an impressive $900 million. Zepto further solidified its unicorn status by raising $200 million in a Series E round of funding, attaining a valuation of $1.4 billion. This achievement made Zepto India's first unicorn of 2023. Future outlook Looking ahead, Zepto is poised for further expansion, with plans to add 40% more dark stores in the coming year while reducing the time for these stores to turn profitable. The company also harbors aspirations of achieving EBITDA positivity within the next 12 to 15 months while sustaining its impressive growth trajectory. However, as with any entrepreneurial journey, challenges lie on the horizon. These include the need for continuous funding to fuel their ambitious growth plans and the perpetual quest to maintain a competitive edge in the rapidly evolving quick commerce market. Zepto's journey is a testament to the agility and innovation embedded in the core of India's startup landscape. Aadit Palicha and Kaivalya Vohra's foray into the grocery delivery market serves as an inspiration, illustrating the boundless potential of founders who navigate the dynamic world of startups. WATCH WION LIVE HERE

Meet Zepto: India's first unicorn of 2023

Akshata Murty, the wife of UK Prime Minister Rishi Sunak, has made the decision to close down her&nbsp;controversial&nbsp;start-up investment company named Catamaran Ventures UK, as revealed in the latest company filings, reported The Times.

Catamaran Ventures UK, based in London, was co-founded by Akshata Murty and Rishi Sunak in 2013 and has been a subject of scrutiny due to its association with taxpayer-funded schemes.

<h2>Background on start-up</h2>

Catamaran Ventures UK primarily invested wealth stemming from Akshata Murty's stake in Infosys, her father's IT business.

The company's recent accounts indicate that its investments were valued at £3.8 million ($4.6 million), up from £3.5 million ($4.2 million)&nbsp;in 2021. However, they&nbsp;also disclosed that it owed Akshata Murty £4.6 million ($5.5 million), according to unaudited accounts for 2022.&nbsp;

The company faced controversies related to its connection with government-funded initiatives. For instance, Study Hall, an education technology firm with Catamaran's investment, received a government grant of £349,976 ($425,288)&nbsp;through Innovate UK, an arm's-length state body. This raised concerns, with Labour leader Sir Keir Starmer highlighting a possible pattern of behaviour regarding such grants.

Furthermore, Mrs Wordsmith, an education start-up backed by Catamaran, collapsed within six months of receiving £650,000 ($789,880) from the taxpayer through the Future Fund, a pandemic funding scheme championed by Rishi Sunak.

Similarly, The New Craftsmen, a Catamaran-backed furniture company, and Digme Fitness, a fitness chain in which Akshata Murty held a directorship and shares, faced difficulties, with some having received funding from the same scheme.

Also read |&nbsp;<a href="https://www.wionews.com/trending/rishi-sunak-akshata-murty-wanted-to-visit-haldirams-or-saravana-bhawan-in-delhi-but-could-not-635104">Rishi Sunak, Akshata Murty wanted to visit Haldiram's or Saravana Bhavan in Delhi but could not because...</a>

<h2>About Akshata Murty and her investments</h2>

Akshata Murty, 43, is the daughter of NR Narayana Murthy, the Indian billionaire and co-founder of Infosys. In 2021, Catamaran's accounts revealed a loan to the company from a related party for £652,499 ($793,060), which was subsequently transferred to Akshata Murty on April 30, 2015, the same day Rishi Sunak resigned his directorship from the business. The accounts acknowledged that the loan had not been adequately disclosed in previous reports.

Rishi Sunak first listed Catamaran Ventures UK in the register of interests in 2019 when he assumed the role of chief secretary to the Treasury.

Also watch |&nbsp;UK: Rishi Sunak expected to axe flagship HS2 rail project; Tory backlash against scrapping line

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Apart from Catamaran Ventures UK, Akshata Murty's investments outside the company have also sparked controversy. Her direct shares in Koru Kids, a childcare firm, led to meetings with the children's minister shortly before a budget announcement that could have benefited the company. The Prime Minister faced criticism for not properly disclosing his family's financial interest in a firm with potential government policy implications, an oversight he described as "inadvertent" and apologised for.

In the past year, it was revealed that Akshata Murty held "non-dom" tax status, a designation she later relinquished amid sustained criticism.

WATCH WION LIVE HERE:

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Akshata Murty, the wife of UK Prime Minister Rishi Sunak, has made the decision to close down her controversial start-up investment company named Catamaran Ventures UK, as revealed in the latest company filings, reported The Times.

Akshata Murty, the wife of UK Prime Minister Rishi Sunak, has made the decision to close down her controversial start-up investment company named Catamaran Ventures UK, as revealed in the latest company filings, reported The Times. Catamaran Ventures UK, based in London, was co-founded by Akshata Murty and Rishi Sunak in 2013 and has been a subject of scrutiny due to its association with taxpayer-funded schemes. Background on start-up Catamaran Ventures UK primarily invested wealth stemming from Akshata Murty's stake in Infosys, her father's IT business. The company's recent accounts indicate that its investments were valued at £3.8 million ($4.6 million), up from £3.5 million ($4.2 million) in 2021. However, they also disclosed that it owed Akshata Murty £4.6 million ($5.5 million), according to unaudited accounts for 2022. The company faced controversies related to its connection with government-funded initiatives. For instance, Study Hall, an education technology firm with Catamaran's investment, received a government grant of £349,976 ($425,288) through Innovate UK, an arm's-length state body. This raised concerns, with Labour leader Sir Keir Starmer highlighting a possible pattern of behaviour regarding such grants. Furthermore, Mrs Wordsmith, an education start-up backed by Catamaran, collapsed within six months of receiving £650,000 ($789,880) from the taxpayer through the Future Fund, a pandemic funding scheme championed by Rishi Sunak. Similarly, The New Craftsmen, a Catamaran-backed furniture company, and Digme Fitness, a fitness chain in which Akshata Murty held a directorship and shares, faced difficulties, with some having received funding from the same scheme. Also read | Rishi Sunak, Akshata Murty wanted to visit Haldiram's or Saravana Bhavan in Delhi but could not because... About Akshata Murty and her investments Akshata Murty, 43, is the daughter of NR Narayana Murthy, the Indian billionaire and co-founder of Infosys. In 2021, Catamaran's accounts revealed a loan to the company from a related party for £652,499 ($793,060), which was subsequently transferred to Akshata Murty on April 30, 2015, the same day Rishi Sunak resigned his directorship from the business. The accounts acknowledged that the loan had not been adequately disclosed in previous reports. Rishi Sunak first listed Catamaran Ventures UK in the register of interests in 2019 when he assumed the role of chief secretary to the Treasury. Also watch | UK: Rishi Sunak expected to axe flagship HS2 rail project; Tory backlash against scrapping line Apart from Catamaran Ventures UK, Akshata Murty's investments outside the company have also sparked controversy. Her direct shares in Koru Kids, a childcare firm, led to meetings with the children's minister shortly before a budget announcement that could have benefited the company. The Prime Minister faced criticism for not properly disclosing his family's financial interest in a firm with potential government policy implications, an oversight he described as "inadvertent" and apologised for. In the past year, it was revealed that Akshata Murty held "non-dom" tax status, a designation she later relinquished amid sustained criticism. WATCH WION LIVE HERE:

Akshata Murty, wife of UK PM Rishi Sunak, initiates winding down of her start-up

In 2022, OPEN became India's 100th unicorn. But how did that happen? What really happened behind the scenes that led to the creation of this billion-dollar idea? Here is the story of the man who played a vital role in building Asia's first neo-banking platform for small and medium enterprises. His struggles, the highs, the lows, and the comebacks eventually led to the success of OPEN. From partnering with nearly all major Indian banks to serving over 3.5 million businesses, OPEN is a homegrown success story from India.

How did OPEN become India's 100th unicorn?

The union territory of Jammu and Kashmir is witnessing a huge increase in the number of start-ups by the youth of the Kashmir Valley. The Jammu and Kashmir government says over 400 start-ups have been registered in the union territory in the last two years. e-commerce, horticulture, agriculture, the food industry&nbsp;and crafts are some of the Major sectors in which these start-ups have been started.&nbsp;

Unemployment remains one of the major concerns for the government of Jammu and Kashmir and various government departments in the Valley are pushing for the setting up of new start-ups by the local youth. The government calls it a success as hundreds of start-ups has been established in Kashmir not only promoting local business but also generating employment for hundreds of youngsters.

One of the most successful start-ups in the Kashmir region is Fast Beetle, a door-to-door delivery start-up with a motive to help the local artisans and craftsmen of the valley and connect them with the global audiences. Fast Beetle was founded by Abid Rashid and Sami Ullah in 2019 and since then it has risen exponentially. The company has around 110 employees working with them creating employment opportunities for many.&nbsp;

''Kashmir is a virgin valley, there is a scope for many start-ups to come up here. Having a virgin market means an opportunity. There are people who are trying to change the dynamics in Jammu and Kashmir. Start-ups are the main builders of any country or state, so having so many start-ups would generate employment and push us for growth. Our journey was tough, we bootstrapped it, but we saw there are people across the country who are willing to invest in start-ups in Jammu and Kashmir. We needed money for the growth, and we got that easily, '' said Abid Rashid, co-Founder Fast-Beetle.&nbsp;

Abid also added that the government needs to open a single window for entrepreneurs who are wanting to start a new venture. And the youth also need not only to depend on the government but also look for private investors as well. &nbsp;''I think a start-up is building a company and it needs to grow at 10x speed. A start-up needs to have finances within the first four to five months so that it can grow. The process with the government is delayed and it takes time. I would request and suggest that there should be a single window or committee which can process it faster so that it won't grow. I think youth need to look at the government for finances, but they have to also explore private investors. Getting private funding is easier and they should rely on both so that they can grow faster, '' said Abid Rashid, Co-Founder Fast-Beetle.&nbsp;

Another startup called Tiffin Aaw meaning '' Meal is here' with a motive of serving home-cooked food to offices, colleges and hospitals was set up in 2019. It became extremely popular when the start-up started delivering free food to hospitals during covid. The covid patients, attendants and doctors were sent home-cooked food free of cost by Tiffin Aaw. The start-up later crowd-funded and generated huge support from people across the globe for their work. The founder Rayees Ahmad says the start-ups tackle the major Unemployment issue of Jammu and Kashmir in a big way. &nbsp;Tiffin Aaw has a dozen employees working with them.&nbsp;

''Kashmir has a lot of unemployment and to tackle the problem of unemployment, It's very important to have many start-ups being started here. you don't really need a lot of money to start a business. I started from my home kitchen and used to deliver myself. It's a slow process and it grows with time. We eventually reach a stage where we provide employment to youngsters. Government has a lot of schemes for the youth, but it's very time-consuming so I couldn't really stop working and spending so much time with the government. There are many start-ups that need funding after 3-4 years also. The process takes 6 months to one year. That's why we didn't take any funding from the government, but if we had funding, I would have opened a bigger unit. The start-ups do tackle the problem of employment, I have around 12 youth working with me, '' said Rayees Ahmad, Founder, Tiffin Aaw.&nbsp;

The government of Jammu and Kashmir has been pushing for youngsters to start their own ventures in various sectors. According to the government, more than 400 start-ups have been registered with them and many of these have been extremely successful.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/us-confirms-zelensky-visit-will-meet-biden-at-white-house-address-congress-545008">Zelensky leaves for US, will meet Biden at White House, address Congress</a>

''The start-ups are not only growing in JK but across the globe, there are more than 400 start-ups that have registered with JK start up and Start up India, but the major portion of these start-ups come from Horticulture or e-commerce, wherein they provide support to the artisans where they connect them with the global audiences. Today you also see a large number of people working in Multinational companies coming back and starting their own start-ups and providing employment to at least 50-100 youth in each start-up. There have been many successful cases in JK, '' said Irtif Lone, an expert on start-ups, J&amp;K Government.&nbsp;

The Government has started over a dozen incubation centres across the Union Territory for the youth. The handholding of these youngsters is done through training as well as providing them with a one-time grant by the government.&nbsp;

''There are lots of interventions that the government has done, major of them are setting up incubation centres, there are around a dozen incubation centres across the Union Territory. There is a grant of 12 lac rupees which is provided to the start-ups. There is also a need for private players to intervene. As much as the government can do, &nbsp;it also lies upon these private players. Alternate funding needs to be explored as well,'' said Irtif Lone, Expert Start-ups, J&amp;K Government.&nbsp;

While there is a growth in the number of startups in the Union Territory, there are very few private investment firms in Jammu and Kashmir. Last year Kashmir Angel Network was set up which has more than a dozen investors in its network. These investors are financing the start-ups in the region. Earlier these start-ups were reaching out to investors in metro cities like Delhi and Mumbai but now they have options available at a local level with them.&nbsp;

''Kashmir Angel Network is the first of its kind company in the region, It was incorporated in July 2021, with the idea of fostering a platform. where the experts would meet investors and investors would meet the start-ups. The core idea is to give a business environment and enabling environment to start-ups. The raw and budding ideas of the businessmen particularly of the youth who could not find a platform where they could meet the experts, and funders, and get the business ideas. This kind of platform was required in this part of the country where no such platform existed, We have funded 8 start-ups and 12 are in the pipeline. We give mentorship and incubation facilities and valuation too. We even stay with them till they break even'' said Shabir Handoo, Chairman, Kashmir Angel Network.&nbsp;

These start-ups are not only helping promote the local craft and products but also providing employment opportunities to the thousands of unemployed youths in the region.

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The union territory of Jammu and Kashmir is witnessing a huge increase in the number of start-ups by the youth of the Kashmir Valley. The Jammu and Kashmir government says over 400 start-ups have been registered in the union territory in the last two years.

The union territory of Jammu and Kashmir is witnessing a huge increase in the number of start-ups by the youth of the Kashmir Valley. The Jammu and Kashmir government says over 400 start-ups have been registered in the union territory in the last two years. e-commerce, horticulture, agriculture, the food industry and crafts are some of the Major sectors in which these start-ups have been started. Unemployment remains one of the major concerns for the government of Jammu and Kashmir and various government departments in the Valley are pushing for the setting up of new start-ups by the local youth. The government calls it a success as hundreds of start-ups has been established in Kashmir not only promoting local business but also generating employment for hundreds of youngsters. One of the most successful start-ups in the Kashmir region is Fast Beetle, a door-to-door delivery start-up with a motive to help the local artisans and craftsmen of the valley and connect them with the global audiences. Fast Beetle was founded by Abid Rashid and Sami Ullah in 2019 and since then it has risen exponentially. The company has around 110 employees working with them creating employment opportunities for many. ''Kashmir is a virgin valley, there is a scope for many start-ups to come up here. Having a virgin market means an opportunity. There are people who are trying to change the dynamics in Jammu and Kashmir. Start-ups are the main builders of any country or state, so having so many start-ups would generate employment and push us for growth. Our journey was tough, we bootstrapped it, but we saw there are people across the country who are willing to invest in start-ups in Jammu and Kashmir. We needed money for the growth, and we got that easily, '' said Abid Rashid, co-Founder Fast-Beetle. Abid also added that the government needs to open a single window for entrepreneurs who are wanting to start a new venture. And the youth also need not only to depend on the government but also look for private investors as well. ''I think a start-up is building a company and it needs to grow at 10x speed. A start-up needs to have finances within the first four to five months so that it can grow. The process with the government is delayed and it takes time. I would request and suggest that there should be a single window or committee which can process it faster so that it won't grow. I think youth need to look at the government for finances, but they have to also explore private investors. Getting private funding is easier and they should rely on both so that they can grow faster, '' said Abid Rashid, Co-Founder Fast-Beetle. Another startup called Tiffin Aaw meaning '' Meal is here' with a motive of serving home-cooked food to offices, colleges and hospitals was set up in 2019. It became extremely popular when the start-up started delivering free food to hospitals during covid. The covid patients, attendants and doctors were sent home-cooked food free of cost by Tiffin Aaw. The start-up later crowd-funded and generated huge support from people across the globe for their work. The founder Rayees Ahmad says the start-ups tackle the major Unemployment issue of Jammu and Kashmir in a big way. Tiffin Aaw has a dozen employees working with them. ''Kashmir has a lot of unemployment and to tackle the problem of unemployment, It's very important to have many start-ups being started here. you don't really need a lot of money to start a business. I started from my home kitchen and used to deliver myself. It's a slow process and it grows with time. We eventually reach a stage where we provide employment to youngsters. Government has a lot of schemes for the youth, but it's very time-consuming so I couldn't really stop working and spending so much time with the government. There are many start-ups that need funding after 3-4 years also. The process takes 6 months to one year. That's why we didn't take any funding from the government, but if we had funding, I would have opened a bigger unit. The start-ups do tackle the problem of employment, I have around 12 youth working with me, '' said Rayees Ahmad, Founder, Tiffin Aaw. The government of Jammu and Kashmir has been pushing for youngsters to start their own ventures in various sectors. According to the government, more than 400 start-ups have been registered with them and many of these have been extremely successful. Also read | Zelensky leaves for US, will meet Biden at White House, address Congress ''The start-ups are not only growing in JK but across the globe, there are more than 400 start-ups that have registered with JK start up and Start up India, but the major portion of these start-ups come from Horticulture or e-commerce, wherein they provide support to the artisans where they connect them with the global audiences. Today you also see a large number of people working in Multinational companies coming back and starting their own start-ups and providing employment to at least 50-100 youth in each start-up. There have been many successful cases in JK, '' said Irtif Lone, an expert on start-ups, J&K Government. The Government has started over a dozen incubation centres across the Union Territory for the youth. The handholding of these youngsters is done through training as well as providing them with a one-time grant by the government. ''There are lots of interventions that the government has done, major of them are setting up incubation centres, there are around a dozen incubation centres across the Union Territory. There is a grant of 12 lac rupees which is provided to the start-ups. There is also a need for private players to intervene. As much as the government can do, it also lies upon these private players. Alternate funding needs to be explored as well,'' said Irtif Lone, Expert Start-ups, J&K Government. While there is a growth in the number of startups in the Union Territory, there are very few private investment firms in Jammu and Kashmir. Last year Kashmir Angel Network was set up which has more than a dozen investors in its network. These investors are financing the start-ups in the region. Earlier these start-ups were reaching out to investors in metro cities like Delhi and Mumbai but now they have options available at a local level with them. ''Kashmir Angel Network is the first of its kind company in the region, It was incorporated in July 2021, with the idea of fostering a platform. where the experts would meet investors and investors would meet the start-ups. The core idea is to give a business environment and enabling environment to start-ups. The raw and budding ideas of the businessmen particularly of the youth who could not find a platform where they could meet the experts, and funders, and get the business ideas. This kind of platform was required in this part of the country where no such platform existed, We have funded 8 start-ups and 12 are in the pipeline. We give mentorship and incubation facilities and valuation too. We even stay with them till they break even'' said Shabir Handoo, Chairman, Kashmir Angel Network. These start-ups are not only helping promote the local craft and products but also providing employment opportunities to the thousands of unemployed youths in the region.

Kashmir witnesses rise in start ups with over 400 registered with government

Indian Prime Minister Narendra Modi on Saturday said that startups are going to be the backbone of new India and added that January 16 will be celebrated as 'National Startup Day'. "Start-ups are going to be the backbone of new India. When India completes 100 years of independence, startups will have an important role. Country's innovators are making the country proud globally," the Indian Prime Minister said during his interaction with startups across different sectors.

January 16 will be celebrated as 'National Startup Day': Indian PM Modi

In terms of the number of new unicorns, India had a fantastic year.

Only the United States and China were ahead of it, and it surpassed the United Kingdom.

There were 54 unicorns from India, up from 33 the year before.

With a valuation of $21 billion, India's most successful unicorn is edtech behemoth Byju's.

It is ranked 15th in the world.

The Hurun Research Institute's Global Unicorn Index 2021 is a ranking of the world's start-ups that were created in the 2000s, have a market capitalization of at least a billion dollars, and are not publicly traded.

The deadline for submissions was November 30.&nbsp;

According to Rupert Hoogewerf, Chairman and Chief Researcher of the Hurun Report, countries with the most unicorns have a more dynamic economy.

At least one unicorn can now be found in 42 economies, up from just 25 just two years ago.

However, Russia, Saudi Arabia, and Poland are among 160 countries where no unicorns have been discovered.

Mexico, the Netherlands, the Bahamas, Belgium, Chile, the Czech Republic, Denmark, Norway, Senegal, Thailand, Turkey, the United Arab Emirates, and Vietnam are among the thirteen countries that have produced unicorns for the first time.&nbsp; 
 
ByteDance is the most valuable company in the world, valued at $350 billion, followed by Ant Group at $150 billion, SpaceX at $100 billion, finch Stripe at $95 billion, Klarna at $46 billion, Canva at $40 billion, InstaCart at $39 billion, Databricks at $38 billion, Cainiao at $34 billion, and Revolut at $33 billion.

(With inputs from agencies)

In terms of the number of new unicorns, India had a fantastic year. Only the United States and China were ahead of it, and it surpassed the United Kingdom. There were 54 unicorns from India, up from 33 the year before.

In terms of the number of new unicorns, India had a fantastic year. Only the United States and China were ahead of it, and it surpassed the United Kingdom. There were 54 unicorns from India, up from 33 the year before. With a valuation of $21 billion, India's most successful unicorn is edtech behemoth Byju's. It is ranked 15th in the world. The Hurun Research Institute's Global Unicorn Index 2021 is a ranking of the world's start-ups that were created in the 2000s, have a market capitalization of at least a billion dollars, and are not publicly traded. The deadline for submissions was November 30. According to Rupert Hoogewerf, Chairman and Chief Researcher of the Hurun Report, countries with the most unicorns have a more dynamic economy. At least one unicorn can now be found in 42 economies, up from just 25 just two years ago. However, Russia, Saudi Arabia, and Poland are among 160 countries where no unicorns have been discovered. Mexico, the Netherlands, the Bahamas, Belgium, Chile, the Czech Republic, Denmark, Norway, Senegal, Thailand, Turkey, the United Arab Emirates, and Vietnam are among the thirteen countries that have produced unicorns for the first time. ByteDance is the most valuable company in the world, valued at $350 billion, followed by Ant Group at $150 billion, SpaceX at $100 billion, finch Stripe at $95 billion, Klarna at $46 billion, Canva at $40 billion, InstaCart at $39 billion, Databricks at $38 billion, Cainiao at $34 billion, and Revolut at $33 billion. (With inputs from agencies)

India beats UK, creates third-highest number of unicorns in 2021

Gravitas Plus: India is one of the top start-up ecosystems in the World. So far in 2021, India has produced 38 unicorns. From Zomato to Nykaa, Indian startups are making stellar stock market debuts. Palki Sharma Upadhyay says if you too want to start-up, now is the best time.

Gravitas Plus: India's start-up story

&nbsp;Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators.

While there is no driver behind the wheel, the passenger seat is occupied by a safety operator who "has a red button that can stop the vehicle just in case anything happens," Pony.ai CEO James Peng told Reuters.

The operator will be removed next year when Pony.ai, whose investors include Toyota Motor Corp, plans to deploy its driverless ride-hailing vehicles in certain areas of California. Still, a remote operator will monitor vehicles and provide guidance when the vehicles run into trouble, Peng said.

Alphabet Inc`s Waymo keeps personnel wearing fluorescent yellow vests at the ready to provide roadside assistance for its automated minivans in Phoenix, according to videos and to one of its avid riders, Joel Johnson, who has witnessed this.

Cruise, majority-owned by General Motors Co, started operating five driverless vehicles in San Francisco at night in October 2020 with a human in the front seat. The minder has "the ability to stop the vehicle at any point during the ride," a Cruise spokesman said.

"Cruise views the development of self-driving vehicles as not only a tech race, but also a trust race," the spokesman added. "Given that, we keep&nbsp;humans in the&nbsp;loop in testing driverless vehicles not&nbsp;only as a means of safe development, but also, beyond that, in order to build trust with the public."

South Korea`s automotive giant Hyundai Motor Group has invested in remote operation startup Ottopia, which will provide remote assistance for the robotaxi fleets by Hyundai`s self-driving car joint venture, Motional.

TESLA TO DRIVERS: `BE READY TO ACT`

The continued human presence in what are supposed to be software-driven, automated vehicles underscores the challenges facing the automated vehicle industry, which has consumed billions of dollars in investor capital over the past decade.

With no end in sight to the technical and regulatory obstacles to free-range, driverless robotaxis, some self-driving companies are accepting the need for human minders and scaling down their ambitions so they can start generating revenue in the near future, according to interviews with investors and startup executives.&nbsp;

Even Tesla Inc, which recently launched a new test version of what it calls “Full Self-Driving" software https://www.reuters.com/technology/musks-ai-day-confronts-tough-questions-about-teslas-technology-2021-08-18, said in a message to owners that drivers should "be prepared to act immediately, especially around blind corners, crossing intersections, and in narrow driving situations.” U.S. safety regulators have opened a formal investigation of the automaker`s Autopilot driver assistance system following a series of fatal accidents&nbsp;

WAYMO`S ROADSIDE ASSISTANCE

Waymo has been developing self-driving technology for more than a decade, and launched the first commercial robotaxis in Phoenix. But the successor to the pioneering Google self-driving car project still keeps humans in the loop.

 
Waymo told Reuters it runs four teams monitoring and assisting the fleet. Duties range from responding to riders` questions to providing, remotely, a "second pair of eyes" in tricky situations such as road closures. One of its teams provides roadside assistance to respond to collisions and other incidents.

The teams "work together to orchestrate the operation of our fully autonomous fleet throughout the day," Nathaniel Fairfield, a software engineer at Waymo, said in a statement to Reuters. 
Waymo does not operate vehicles by remote control, he said.

"We don’t use remote takeover, or `joysticking,` because we don`t think remote humans actually add safety," he said, citing potential wireless connection problems.

Waymo now plans to start commercial autonomous vehicle operations in San Francisco with safety drivers initially. The company relies on an army of vehicle operators to ramp up testing in the dense and complex city environment.

A former Waymo operator who participated in San Francisco testing this year said he had to "disengage" and intervene roughly 30 times a day in cases including the car failing to stop fast enough for red lights or vehicles in front that abruptly slow down or stop.

"You are on your toes... There are times where (you think) `Oh, I did not predict this behaviour at all. "This behaviour doesn`t usually happen,`" said the experienced safety operator, who spoke on condition of anonymity due to confidentiality concerns.

DIRTY LITTLE SECRET

Regulators are also keeping humans involved with automated vehicles. California laws "call for a two-way communication link that allows the manufacturer to continuously monitor the (driverless) vehicle’s location/status," the California Department of Motor Vehicles said in a statement to Reuters.

Other robotaxi companies are using remote operation as a way to get vehicles on the road.

In Las Vegas, startup Halo allows customers to summon a driverless car, which is driven by a remote human operator over fast, fifth-generation wireless networks operated by T-Mobile US Inc.

"Just a few years back, remote human assistance was a dirty little secret in this space,"&nbsp;said Elliot Katz, co-founder of teleoperation firm Phantom Auto.

"Virtually no one talked about it publicly because there was still this facade that these vehicles were just going to be able to drive autonomously, everywhere they need to go and do everything that a human driver would do."

He added: "Everyone now knows that`s not going to be the case."

Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators.

Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators. While there is no driver behind the wheel, the passenger seat is occupied by a safety operator who "has a red button that can stop the vehicle just in case anything happens," Pony.ai CEO James Peng told Reuters. The operator will be removed next year when Pony.ai, whose investors include Toyota Motor Corp, plans to deploy its driverless ride-hailing vehicles in certain areas of California. Still, a remote operator will monitor vehicles and provide guidance when the vehicles run into trouble, Peng said. Alphabet Inc`s Waymo keeps personnel wearing fluorescent yellow vests at the ready to provide roadside assistance for its automated minivans in Phoenix, according to videos and to one of its avid riders, Joel Johnson, who has witnessed this. Cruise, majority-owned by General Motors Co, started operating five driverless vehicles in San Francisco at night in October 2020 with a human in the front seat. The minder has "the ability to stop the vehicle at any point during the ride," a Cruise spokesman said. "Cruise views the development of self-driving vehicles as not only a tech race, but also a trust race," the spokesman added. "Given that, we keep humans in the loop in testing driverless vehicles not only as a means of safe development, but also, beyond that, in order to build trust with the public." South Korea`s automotive giant Hyundai Motor Group has invested in remote operation startup Ottopia, which will provide remote assistance for the robotaxi fleets by Hyundai`s self-driving car joint venture, Motional. TESLA TO DRIVERS: `BE READY TO ACT` The continued human presence in what are supposed to be software-driven, automated vehicles underscores the challenges facing the automated vehicle industry, which has consumed billions of dollars in investor capital over the past decade. With no end in sight to the technical and regulatory obstacles to free-range, driverless robotaxis, some self-driving companies are accepting the need for human minders and scaling down their ambitions so they can start generating revenue in the near future, according to interviews with investors and startup executives. Even Tesla Inc, which recently launched a new test version of what it calls “Full Self-Driving" software https://www.reuters.com/technology/musks-ai-day-confronts-tough-questions-about-teslas-technology-2021-08-18, said in a message to owners that drivers should "be prepared to act immediately, especially around blind corners, crossing intersections, and in narrow driving situations.” U.S. safety regulators have opened a formal investigation of the automaker`s Autopilot driver assistance system following a series of fatal accidents WAYMO`S ROADSIDE ASSISTANCE Waymo has been developing self-driving technology for more than a decade, and launched the first commercial robotaxis in Phoenix. But the successor to the pioneering Google self-driving car project still keeps humans in the loop. Waymo told Reuters it runs four teams monitoring and assisting the fleet. Duties range from responding to riders` questions to providing, remotely, a "second pair of eyes" in tricky situations such as road closures. One of its teams provides roadside assistance to respond to collisions and other incidents. The teams "work together to orchestrate the operation of our fully autonomous fleet throughout the day," Nathaniel Fairfield, a software engineer at Waymo, said in a statement to Reuters. Waymo does not operate vehicles by remote control, he said. "We don’t use remote takeover, or `joysticking,` because we don`t think remote humans actually add safety," he said, citing potential wireless connection problems. Waymo now plans to start commercial autonomous vehicle operations in San Francisco with safety drivers initially. The company relies on an army of vehicle operators to ramp up testing in the dense and complex city environment. A former Waymo operator who participated in San Francisco testing this year said he had to "disengage" and intervene roughly 30 times a day in cases including the car failing to stop fast enough for red lights or vehicles in front that abruptly slow down or stop. "You are on your toes... There are times where (you think) `Oh, I did not predict this behaviour at all. "This behaviour doesn`t usually happen,`" said the experienced safety operator, who spoke on condition of anonymity due to confidentiality concerns. DIRTY LITTLE SECRET Regulators are also keeping humans involved with automated vehicles. California laws "call for a two-way communication link that allows the manufacturer to continuously monitor the (driverless) vehicle’s location/status," the California Department of Motor Vehicles said in a statement to Reuters. Other robotaxi companies are using remote operation as a way to get vehicles on the road. In Las Vegas, startup Halo allows customers to summon a driverless car, which is driven by a remote human operator over fast, fifth-generation wireless networks operated by T-Mobile US Inc. "Just a few years back, remote human assistance was a dirty little secret in this space," said Elliot Katz, co-founder of teleoperation firm Phantom Auto. "Virtually no one talked about it publicly because there was still this facade that these vehicles were just going to be able to drive autonomously, everywhere they need to go and do everything that a human driver would do." He added: "Everyone now knows that`s not going to be the case."

A secret weapon for self-driving car startups: Humans

Columbia Global Centers, Mumbai announces the launch of the Urban Works Innovation Challenge 2019-2020 for transforming India`s cities into safe and sustainable places through technical innovation.

The challenge, which is part of a three-year program inaugurated in 2018 and supported by the RMZ Foundation, gives young innovators a globally competitive opportunity to receive mentorship from faculty and alumni of Columbia University`s prestigious Fu Foundation School of Engineering and Applied Science as well as from distinguished entrepreneurs and academics in India.

Winning teams can also avail of unrestricted capital from a total annual fund of Rs 1.2 crores, and peer networks and infrastructural support from a tech-first collaborative workspace at The CoWrks Foundry for a six month period.

"There is a huge opportunity in this country to harness the imagination, invigoration, and forward-looking vision of the youth in India to think about how Indian cities can be at the foundation of a global economy that advances human development," said Patricia J Culligan, Professor of Civil Engineering at Columbia University.

Almost 600 million Indians will live in cities by 2030. Rapid urbanization poses serious environmental and societal challenges, including degrading air quality, rising plastic waste, hindered mobility, mental health problems, and reduced safety for women.

In this evolving landscape, there is growing recognition that the country`s urban workforce requires workplaces and city-wide ecosystems to become more productive, innovative, and inclusive.

"Solutions that make use of contemporary technology can play a critical role in addressing these needs, thereby making our cities and work environments sustainable and safe for all," said Dr Ravina Aggarwal, Director of Columbia`s Mumbai Center.

The 2019-2020 challenge will support tech-based solutions to transform 21st-century cities into sustainable and safe work environments that span diverse industries and socio-economic geographies.

Broad areas for solution development include green technologies, decentralised energy-efficient solutions, sustainable resource use, waste management, accessibility, health and wellbeing, and gender security.

The innovation challenge is open to applications till November 15, 2019, from start-ups, professionals, entrepreneurs, researchers, and practitioners intent on designing the future of Indian cities and improving urban work environments.

Teams with successful design prototypes will have the opportunity to pitch their design to leading corporations and investors.

"Our engagement with Columbia Global Centers, Mumbai and Columbia Engineering was formed with the vision of seeking out and empowering the most incredible minds doing deeply intentional and well-researched work into solving these problems at a global scale," said Nruthya Madappa, Managing Partner of The CoWrks Foundry.

&nbsp;

Columbia Global Centers, Mumbai announces the launch of the Urban Works Innovation Challenge 2019-2020 for transforming India`s cities into safe and sustainable places through technical innovation.

Columbia Global Centers, Mumbai announces the launch of the Urban Works Innovation Challenge 2019-2020 for transforming India`s cities into safe and sustainable places through technical innovation. The challenge, which is part of a three-year program inaugurated in 2018 and supported by the RMZ Foundation, gives young innovators a globally competitive opportunity to receive mentorship from faculty and alumni of Columbia University`s prestigious Fu Foundation School of Engineering and Applied Science as well as from distinguished entrepreneurs and academics in India. Winning teams can also avail of unrestricted capital from a total annual fund of Rs 1.2 crores, and peer networks and infrastructural support from a tech-first collaborative workspace at The CoWrks Foundry for a six month period. "There is a huge opportunity in this country to harness the imagination, invigoration, and forward-looking vision of the youth in India to think about how Indian cities can be at the foundation of a global economy that advances human development," said Patricia J Culligan, Professor of Civil Engineering at Columbia University. Almost 600 million Indians will live in cities by 2030. Rapid urbanization poses serious environmental and societal challenges, including degrading air quality, rising plastic waste, hindered mobility, mental health problems, and reduced safety for women. In this evolving landscape, there is growing recognition that the country`s urban workforce requires workplaces and city-wide ecosystems to become more productive, innovative, and inclusive. "Solutions that make use of contemporary technology can play a critical role in addressing these needs, thereby making our cities and work environments sustainable and safe for all," said Dr Ravina Aggarwal, Director of Columbia`s Mumbai Center. The 2019-2020 challenge will support tech-based solutions to transform 21st-century cities into sustainable and safe work environments that span diverse industries and socio-economic geographies. Broad areas for solution development include green technologies, decentralised energy-efficient solutions, sustainable resource use, waste management, accessibility, health and wellbeing, and gender security. The innovation challenge is open to applications till November 15, 2019, from start-ups, professionals, entrepreneurs, researchers, and practitioners intent on designing the future of Indian cities and improving urban work environments. Teams with successful design prototypes will have the opportunity to pitch their design to leading corporations and investors. "Our engagement with Columbia Global Centers, Mumbai and Columbia Engineering was formed with the vision of seeking out and empowering the most incredible minds doing deeply intentional and well-researched work into solving these problems at a global scale," said Nruthya Madappa, Managing Partner of The CoWrks Foundry.

Columbia University's Urban works innovation challenge for start-ups in India

Singapore announced the addition of India to its&nbsp;Global Innovation Alliance (GIA) tech startup network, which will connect the island nation`s fledgeling tech companies as well as small and medium-sized enterprises (SMEs) to India`s technology ecosystem.

This collaboration was launched by S Iswaran, Singapore's Minister-in-charge of Trade Relations in Bangalore at 10th edition of TechSparks last week. Launched in 2017, GIA is an initiative led by three Singapore government bodies - the Singapore Economic Development Board (EDB), Ministry of Education (MOE) and Enterprise Singapore.

It aims to strengthen Singapore`s connections to major innovation hubs around the world, thereby creating an exchange of ideas and knowledge to promote innovation. Through this, it is envisaged that more opportunities will be available to students, entrepreneurs and businesses, to gain experience and to connect and collaborate with their overseas counterparts.

GIA further works with various in-market partners such as accelerators, incubators, co-working space providers and universities to set-up innovation launchpads overseas. Startups can expand their businesses to GIA cities by connecting to mentor networks and relevant ecosystem players.

With Bangalore onboard, the GIA network will cover 12 cities in nine countries - China (Beijing, Shanghai, Suzhou), France (Paris), Germany (Berlin and Munich), India (Bengaluru), Indonesia (Jakarta), Japan (Tokyo), Thailand (Bangkok), Vietnam (Ho Chi Minh City) and the US (San Francisco).

TechSparks 2019 is a technology event organised by YourStory, India`s foremost media technology platform which brings together startups, entrepreneurs, policymakers, business leaders, innovators, investors and media houses to discuss and debate ideas. It is also an event rich with networking opportunities.

During the event, the Singapore Minister, S Iswaran said: "We hope that this will not only pave the way for more partnerships between enterprises from both countries but also drive the growth of our startup ecosystems to benefit both our economies."

Mr Iswaran also witnessed the signing of four memoranda of understanding (MOUs), three of which involve business partnerships Enterprise Singapore has with Indian platforms. One of them is with Indian speed scaling platform Anthill Ventures. Anthill Ventures which has offices in Singapore, Hyderabad and New York, specialises in helping early-growth stage startups with among other things connecting with industry experts, mentoring, market reach and finding investors.

In the agreement with Enterprise Singapore, they will facilitate the entry of Singapore-based startups into the Indian market through Bangalore. A programme, which begins in November, will include a three-day boot camp in Singapore and a two-week immersion programme in Bangalore where participants will meet Indian enterprises and participate in field trips.

Another partnership is with The Indus Entrepreneurs Global (TiE), a non-profit startup network founded in Silicon Valley by Indian-American businessmen Kanwal Rekhi. The TiE will connect Singapore startups to mentors and venture capitalists in the Indian startup scene. Its mission is to nurture the next generation of entrepreneurs through mentoring, networking, education, funding and incubation.

Enterprise Singapore`s third MOU is with YourStory, the organisers of the event, with the aim to foster collaboration between the startups and entrepreneur communities of Singapore and India and to increase business opportunities.

The final MOU signed during the event was between Anthill Ventures and Singapore property giant CapitaLand's coworking space BRIDGE+ to provide a conducive environment for tech startups and companies to collaborate. The launchpad in CapitaLand`s International Tech Park Bengaluru&nbsp;is also where the GIA Acceleration Programme will be conducted.

Tan Soon Kim, assistant chief executive officer of Enterprise Singapore in comments to The Business Times of Singapore emphasised the bilateral nature of GIA adding that Indian startups are encouraged to come to Singapore and tap on Singapore`s rich ecosystem and thereafter to branch out into Southeast Asia.

According to a study by the Economic Research Institute for ASEAN and East Asia published recently, the digital economy of ASEAN is expected to grow by 6.4 times, from $31 billion in 2015 to $197 billion by 2025.

Bilateral trade between Singapore and India stood at $19.2 billion&nbsp;in 2018 according to Singapore`s Ministry of Trade and Industry figures. This is an increase of 15 per cent from 2015 where two-way trade stood at SGD 23.07 billion. Of this, about 65 per cent is of goods imported into India from Singapore.

Singapore was the largest foreign investor in India in the last Indian fiscal year with Singapore-based companies committing over $16.2 billion in investments.

Singapore Minister Iswaran added in a Facebook post, "The innovation ecosystems in Singapore and India have many synergies, and Bangalore has an established technology scene, along with a strong startup and innovation ecosystem. I`m encouraged that with the GIA, Singaporeans and Singapore companies will have more opportunities to collaborate with their counterparts in India to create innovative solutions."

Singapore announced the addition of India to its Global Innovation Alliance (GIA) tech startup network, which will connect the island nation`s fledgeling tech companies as well as small and medium-sized enterprises (SMEs) to India`s technology ecosystem.

Singapore announced the addition of India to its Global Innovation Alliance (GIA) tech startup network, which will connect the island nation`s fledgeling tech companies as well as small and medium-sized enterprises (SMEs) to India`s technology ecosystem. This collaboration was launched by S Iswaran, Singapore's Minister-in-charge of Trade Relations in Bangalore at 10th edition of TechSparks last week. Launched in 2017, GIA is an initiative led by three Singapore government bodies - the Singapore Economic Development Board (EDB), Ministry of Education (MOE) and Enterprise Singapore. It aims to strengthen Singapore`s connections to major innovation hubs around the world, thereby creating an exchange of ideas and knowledge to promote innovation. Through this, it is envisaged that more opportunities will be available to students, entrepreneurs and businesses, to gain experience and to connect and collaborate with their overseas counterparts. GIA further works with various in-market partners such as accelerators, incubators, co-working space providers and universities to set-up innovation launchpads overseas. Startups can expand their businesses to GIA cities by connecting to mentor networks and relevant ecosystem players. With Bangalore onboard, the GIA network will cover 12 cities in nine countries - China (Beijing, Shanghai, Suzhou), France (Paris), Germany (Berlin and Munich), India (Bengaluru), Indonesia (Jakarta), Japan (Tokyo), Thailand (Bangkok), Vietnam (Ho Chi Minh City) and the US (San Francisco). TechSparks 2019 is a technology event organised by YourStory, India`s foremost media technology platform which brings together startups, entrepreneurs, policymakers, business leaders, innovators, investors and media houses to discuss and debate ideas. It is also an event rich with networking opportunities. During the event, the Singapore Minister, S Iswaran said: "We hope that this will not only pave the way for more partnerships between enterprises from both countries but also drive the growth of our startup ecosystems to benefit both our economies." Mr Iswaran also witnessed the signing of four memoranda of understanding (MOUs), three of which involve business partnerships Enterprise Singapore has with Indian platforms. One of them is with Indian speed scaling platform Anthill Ventures. Anthill Ventures which has offices in Singapore, Hyderabad and New York, specialises in helping early-growth stage startups with among other things connecting with industry experts, mentoring, market reach and finding investors. In the agreement with Enterprise Singapore, they will facilitate the entry of Singapore-based startups into the Indian market through Bangalore. A programme, which begins in November, will include a three-day boot camp in Singapore and a two-week immersion programme in Bangalore where participants will meet Indian enterprises and participate in field trips. Another partnership is with The Indus Entrepreneurs Global (TiE), a non-profit startup network founded in Silicon Valley by Indian-American businessmen Kanwal Rekhi. The TiE will connect Singapore startups to mentors and venture capitalists in the Indian startup scene. Its mission is to nurture the next generation of entrepreneurs through mentoring, networking, education, funding and incubation. Enterprise Singapore`s third MOU is with YourStory, the organisers of the event, with the aim to foster collaboration between the startups and entrepreneur communities of Singapore and India and to increase business opportunities. The final MOU signed during the event was between Anthill Ventures and Singapore property giant CapitaLand's coworking space BRIDGE+ to provide a conducive environment for tech startups and companies to collaborate. The launchpad in CapitaLand`s International Tech Park Bengaluru is also where the GIA Acceleration Programme will be conducted. Tan Soon Kim, assistant chief executive officer of Enterprise Singapore in comments to The Business Times of Singapore emphasised the bilateral nature of GIA adding that Indian startups are encouraged to come to Singapore and tap on Singapore`s rich ecosystem and thereafter to branch out into Southeast Asia. According to a study by the Economic Research Institute for ASEAN and East Asia published recently, the digital economy of ASEAN is expected to grow by 6.4 times, from $31 billion in 2015 to $197 billion by 2025. Bilateral trade between Singapore and India stood at $19.2 billion in 2018 according to Singapore`s Ministry of Trade and Industry figures. This is an increase of 15 per cent from 2015 where two-way trade stood at SGD 23.07 billion. Of this, about 65 per cent is of goods imported into India from Singapore. Singapore was the largest foreign investor in India in the last Indian fiscal year with Singapore-based companies committing over $16.2 billion in investments. Singapore Minister Iswaran added in a Facebook post, "The innovation ecosystems in Singapore and India have many synergies, and Bangalore has an established technology scene, along with a strong startup and innovation ecosystem. I`m encouraged that with the GIA, Singaporeans and Singapore companies will have more opportunities to collaborate with their counterparts in India to create innovative solutions."

Singapore adds Bengaluru to its Global Innovation Alliance

The Delhi-based start-up has developed an adaptive social network that allows users to access materials relevant to them

While social media has led to increased access to a range of content, sifting through the thousands of pieces of information to sort out material that one would want to read can be a cumbersome task. To address this issue, Delhi-based start-up, HubHopper has developed a personalized social news magazine that gives you a daily dose of your interests. It is a gateway to just about everything with a one-of-a-kind digital remote that helps users tailor-make their experience in real time. WION Edge interviewed the Founder and CEO of HubHopper.com, Gautam Anand, to understand how the content aggregator works. Excerpts: What was the inspiration behind launching HubHopper? The inspiration behind launching HubHopper was this need of getting relevant content according to one’s mood. It was born out of the frustration of seeing spam and irrelevant posts on mainstream social and content platforms. These platforms don’t take into account how dynamic a person’s interests might be and that was a problem I had to solve. There just had to be a better way to discover content, people and trends that are most relevant to you. If you had to mention the best feature of your product, which one would it be? The best feature of our product would be the remote that allows you to control of your feed in real time. The next stage of growth? We plan on adding more varied interests, languages and opening up the platform to content publishers and creators. What is your opinion about the digital revolution in the news industry? Reading attitudes have changed; people have a limited attention span and no time for anything that doesn’t interest them. The content has shifted from lengthy opinion pieces to listicles and short-form articles. The newspaper industry as a whole still hasn’t quite figured out how to cope with this migration from offline to online and how to make a substantial profit from it. Paywalls and subscriptions only work with original, high-quality content. Publishers are struggling to reach the right people for their content and consistent visibility. Monetizing digital content in any form will only work if the content is relevant and offers great value to users. How has the digitisation of news impacted youth participation in current affairs and helped in them making an impact? Trends on social media platforms are influenced by the youth, as the largest proportion of users is below the age of 30. Youth participation in news affairs establishes which story gets maximum reach; they are actually playing a part in setting trends as never before. What happens on digital platforms is now the news. For example – the ‘Sehwag vs Piers Morgan Fight on Twitter.’ A lot of publishers focus their content strategy according to what’s trending online, and the youth have a loud voice in deciding what that is. With the plethora of content flowing over the Internet, how are you able to differentiate your content? To quote Mitchell Kapor - ‘Getting information off the internet is like taking a drink from a fire hydrant.’ Firstly, our content is interest based and appears as bite-sized summaries of detailed web articles. Secondly, the articles or ‘doses’ as we like to call them, disappear in 7 seconds unless you show interest by tapping them. A user saves times, stays informed and has a fun experience in consuming this form of content. What is the future of the news industry? Digital and traditional publishers will need to have fast paced omni-channel content with a robust technological infrastructure. News is going to be consumed in new formats and platforms. The challenge for publishers will be to figure out how much to invest in these channels and whether the return on investment is promising enough. Publishers that embrace the continuously advancing technology and adapt to changing user behaviour will continue to thrive. (Contributions by Tanmai Relwani and Devanshi Verma)

Interview: Can the India-based HubHopper help declutter the Internet?

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