RBI sets up helpline for startups on fund-raising

MUMBAI: With startups raising funds from a variety of offshore sources, including individuals, private equity players and crowdsourcing, the RBI has set up a dedicated helpline for advice on cross-border remittances which are subject to guidelines issued under the foreign exchange management act.

Although businesses are supposed to know the law %before they raise capital, many of the startups are being promoted by very young and inexperienced individuals. Moreover, the amount raised by some of them run into only a few lakhs, making it difficult for them to hire %law firms.

The helpline is actually an email ID (helpstartup@rbi.org.in) through which RBI will respond to queries. The central bank said that it will offer guidance/assistance to them for undertaking cross-border transactions within the %ambit of the regulatory framework.


"While seeking guidance, the enterprises should provide complete information to the RBI and mention the specific issues on which they need guidance in relation to the Foreign Exchange Management regulations. This would enable the personnel attending the helpline to offer timely and effective information."

In his Independence Day speech, Prime Minister Narendra Modi had announced that government would take measures to promote startups in the country. Since then, the government has sought inputs from investors like SoftBank president Nikesh Arora and Snapdeal CEO Kunal Bahl and former Infosys director Mohandas Pai. The department of industrial policy and promotion had drawn up an action plan to address concerns of entrepreneurs. One of the issues raised was the cumbersome process in complying with the Foreign Exchange Management Act (FEMA) documentation.

Startups usually undertake a wide range of cross-border transactions including those related to investment. Cross-border transactions of resident Indians are subject to the regulatory regime provided by the Foreign Exchange Management Act, 1999.

 News : http://timesofindia.indiatimes.com/business/india-business/RBI-sets-up-helpline-for-startups-on-fund-raising/articleshow/50290682.cms

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Soon, plug-n-play facility for startups at Udyog Bhavan, Panaji, Goa

TNN | Nov 12, 2015, 03.17AM IST



Panaji: In a major boost to the state's information technology (IT) aspirations, the department of information and technology has finally heeded the call for a plug-n-play office space for startups. Having picked Udyog Bhavan in Panaji as the location for the initiative, the department has requested the Goa state infrastructure development corporation ( GSIDC) to design the office within three months.

Plug-n-play offices provide desk space with internet connectivity, power supply, and conference areas for meetings. In doing this, they fulfil an essential need for startups during their initial phases, when funding is scarce. The government will offer the service in the heart of the capital in a bid to handhold startups, which form a major chunk of the IT presence in the state.

"Software Technology Parks of India (STPI) will operate the facility and put in its own funds.
We hope to have the office ready within three months," director of information and technology, Shilpa Shinde, said. STPI is a statutory body and an internet and incubation service provider. Its key role is to incubate export-oriented startups.

Earlier in August, around 35 startup representatives met with the state's IT department to discuss this issue of a plug-n-play facility, besides other crucial matters such as seed funding and incentives for IT companies.

Initially, the department had identified buildings vacated by schools that moved to Cujira, as well as an office space occupied by a global business solutions company. It was even considering leasing the premises and subsequently offering it to STPI. Discussions, however, soon fizzled out, sources said. The government eventually zeroed in on the second floor of the Udyog Bhavan, which was earlier occupied by the department of mines and geology.

STPI will also operate an incubator for export startups on the premises. The launch of the incubator, expected in the last quarter of 2015-16, will take the number of government-aided incubators in Goa to four. Goa currently has two incubators - one at Verna and the other at Assagao - and another that is jointly-run by the department of industries, trade and commerce, and the Goa chamber of commerce and industry ( GCCI).


News : http://timesofindia.indiatimes.com/city/goa/Soon-plug-n-play-facility-for-startups-at-Udyog-Bhavan/articleshow/49750697.cms



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STPI gives away Export Awards

Bengaluru, Dec 10, 2015, DHNS:

Software Technology Parks of India (STPI), an autonomous society under the Ministry of Communications and Information Technology, on Wednesday presented the Export Awards 2015 for IT, ITES, and electronic hardware companies under eight different categories.

The STPI IT Export Awards, which form part of the 18th edition of Karnataka’s premier IT summit Bengaluru ITE.biz, is given on performance parameters like consistency in exports, employment of women, and differently abled manpower employment for financial year 2014-15.

Besides 23 companies, STPI presented ‘IT Pride of Karnataka’ awards to 22 IT, ITeS, and electronic hardware companies that have embarked into the ‘Billion Club’ category (with exports exceeding Rs 1,000 crore).

Infosys has been recognised as the ‘IT Ratna of Karnataka’ for its consistent and outstanding performance in IT exports (exceeding Rs 10,000 crore), and for being the highest exporter and employer in Karnataka.

While the highest new jobs creator award in IT segment was bagged by CGI Information Systems & Management Consultants, the highest exports per employee — IT  was given to Qualcomm India. Chief guest K Kasturirangan, and guest of honour Kris Gopalakrishnan gave away the awards. Principal Secretary, Department of IT, BT and S&T V Manjula, IAS, Director General, Software Technology Parks of India (STPI) Omkar Rai, were also present.

News Source : http://www.deccanherald.com/content/516543/stpiamp8200gives-away-export-awards.html



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CeBIT 2016 edition to focus on digitisation

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 CeBIT 2016 edition to focus on digitisation

Bengaluru,Oct 31, 2015,


More number of startups are expected to attend next year’s CeBIT to be held in Hannover from March 14 to 18, 2016, said Jan-Hendrik Tiedje, Key account manager of Deutsche Messe. Speaking on the sidelines of CeBIT India 2015, on Friday, Tiedje emphasised the need for digitisation and stated that it is the need of the hour.

He also emphasised on the importance of Keynote topics for the success of CeBIT. Next years’s CeBIT will focus on digital economy. 

“The focus is also on the financial technology sector. Sergio Ermotti, Group CEO of UBS, is one of the attendees for the next year’s event,” Tiedje said, adding Switzerland is the partner country in the upcoming CeBIT Hannover. He also assured the promotion of Indian MSME sector with delegations from Kerala, Odisha, UP and Gujarat making their foray into the  European market.

Priya Sachdeva, Project Manager of HMFI, highlighted the importance of Electronics and Computer Software Association (ESC) in providing large amounts of subsidies to small scale businesses for their participation in CeBIT. Commenting on the importance of growth talks, a new concept in India, Priya added that they are committed to the promotion of entrepreneurial spirit in India. While highlighting the importance of CeBIT, Girish Babu, CEO of Technopark, said that CeBIT gives aspiring entrepreneurs a global overview of the market place.

Arbind Prasad, Director General FICCI, said that FICCI would be managing the India Pavilion on behalf of the Government of India in the upcoming CeBIT. FICCI will be supported and funded by the Department of Industrial Policy Promotion and Department of Electronics and IT, he added



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Manufacturing startups shine at CeBIT, seek funds

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 Manufacturing startups shine at CeBIT, seek funds




KT Rama Rao, Minister for IT, Telangana, speaking at the inaugural speaker at CeBIT 2015, BangaloreKT Rama Rao/Twitter
Indian manufacturing startups operating in the space of vision inspection system, data monitoring and control and advanced Point of Sale (POS) solutions are vying for attention and funding at the software industry-dominated CeBIT.

Vision inspection system and self-learning system machines manufacturing startup Maxerience aims to automate quality control in dynamic manufacturing with its machines, said founder Pradeep V.S.R. Pydah.



"Maxerience takes the photograph of a perfect product (Golden reference) and compares the quality of subsequent products for quality and pinpoints defects," he said, adding one of their clients manufactures 12,000 remote control key pads every day and employs four people to physically check for defects - a task which they have automated.

Some of the technologies deployed by Maxerience are machine learning, motion control electronics, computer vision and mechanical design among others.

Self-funded Maxerience has four customers including a Fortune 50 company. It is also selling vision inspection systems for electronics manufacturing and 3D printing companies in South Korea.

Self-funded three-year-old Data Monitoring and Control startup EMNICS makes systems for industrial data monitoring and failure detection, said its founder Jegajith P.T., saying their technology can be used by a a power plant company with operations in remote areas to monitor its machines remotely and avert failures.

Currently operating with eight employees, EMNICS aims to focus on Internet of Things (IoT) security in the future.

Easy Design Solutions is another hardware startup showcasing its Point of Sale (POS) products at India's largest software fair.

Its founder Soundararaj R. Damodharan said, "There are so many POS machines in the market now, but many of them lack advanced features like Cloud integration, ERP integration, online report generation, remote inventory management and advanced authentication mechanism among others. These are all packed in our POS machines."

Damodharan is seeking funding and marketing guidance from VCs, Angels and mentors.

However, one common fundamental pain point highlighted by the manufacturing startups is lack of funding and venture capital enthusiasm for manufacturing startups India.

"Everybody brags and exaggerates funding for software and e-commerce startups while ignoring manufacturing and hardware startups. The heart and soul of aMake in India' and 'Digital India' is manufacturing... just check how much of funding trickled down to manufacturing startups," questioned a hardware startup founder who did not wish to identify himself.

"I had to incorporate my startup in the US as I did not get sufficient encouragement in India. Not everybody can do that," he added.

V. Mahadesha, additional director, Software Technology Parks of India (STPI), said: "Nationalised banks like SBI and others must give collateral free funding to manufacturing startups, which should not be harassed even if they fail."

Another reason he cited for the lack of enthusiasm is the duration it takes for a hardware startup to break even.

Like any manufacturer, manufacturing startups have to bear the expenses of power, machines, building and others to name a few.

Nearly 20 manufacturing startups are showcasing their wares at CeBIT with support from STPI.


News Source : Ibtimes ( 31/10/2015)



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Bengaluru host CeBIT India 2015

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 Bengaluru host CeBIT India 2015

The second edition of global IT event CeBIT India 2015 will start off on Thursday at Bangalore International Exhibition Centre (BIEC) on the city's outskirts.

"India is fast emerging as the global destination for cutting-edge innovation and through our show (CeBIT 2015) we aim to showcase the brilliance of Indian ideas to the global community," said Mehul Lanvers Shah, MD of Hannover Fairs India, the event organiser, in a statement.

At least 10,000 visitors are expected to attend the three-day event from October 29 with about five percent of them originating from abroad.

Along with 100 MNCs, 380 firms, 150 delegates have already confirmed their participation for CeBIT India 2015.

GPS enabled applications, cloud computing applications, motorbikes incorporating innovative automation technology and a human resources mobile app linking job seekers and employers through GPS will be launched by startups at the event.

State-run Software Technology Parks of India (STPI) has partnered with Hannover Milano Fairs India to provide a platform for nearly 100 Micro Small and Medium Enterprises to mark their presence at CeBIT India 2015 to showcase their products and solutions.

From the participating MSMEs, 10 will be shortlisted for participation in the premier CeBIT Hannover 2016 in Germany to propel their access to global markets.

CeBIT Global Conferences (CGC) is a special feature of CeBIT India 2015, it features 30 sessions featuring 80 Indian and international speakers talking on digital disruption and related opportunities in a spectrum of industries.

Emphasising on CBC central theme Diconomy, industry leaders will speak on Innovating for Digital India, Digital Disruption in Financial Sector, Next generation connectivity - making 4G Real, The Future of Work, IT: The Power behind Energy, Diconomy - The shared economy - making it all work together, IoT - How smart products are transforming industries and Industry 4.0 - Manufacturing goes Digital.

Kerala is partnering CeBIT India 2015 as the Digital Foundation Partner. The department of Information Technology, Kerala and CeBIT will together promote 'Digital India'.

CeBIT India 2015 will house a special pavilion Kerala showcasing the state's IT capabilities.

"We are happy to partner with CeBIT for the second time, after a successful association last year. Through the show's global platform, we hope to play a significant role in the Digital India campaign, and generate more than 40,000 direct and over 1.6 lakh indirect employment opportunities," said Girish Babu, CEO, Technopark, Kerala in a statement.

Telangana minister for IT and Panchayat Raj K. Taraka Rama Rao, T. K. Ramachandra, IT secretary, Tamil Nadu and Ajay Kumar, additional secretary, Department of Electronics and Information Technology (DeitY) are the keynote speakers at the event inauguration on Thursday.

Being organised since 1999, CeBIT is one of the largest and most international computer expos. Deutsche Messe AG (German Trade Show, Inc.) organises similar ICT expositions bearing the brand name CeBIT in Australia, Turkey and Brazil.

Deutsche Messe AG introduced CeBIT in India in 2014 customised to suit Indian IT industry needs and demands, CeBIT India 2014 hosted 9,311 business buyers over three days in November 2014.



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Second edition of CeBIT

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 Second edition of CeBIT 

The second edition of CeBIT India, a leading IT event, organised by Hannover Milano Fairs India, opened here on Thursday.

Various small and medium industries, large IT companies, start-ups and other States are participating in the three-day event that will bring digital solutions marketplace under a single roof.

Around one-fourth of the total participants are from Karnataka. As many as 21 States, including Odisha, Kerala, Jammu and Kashmir and Telangana, are participating in the event. The organiser said that he got overwhelming participation from the Union government.In the first edition of the event last year, CeBIT had partnered with State government’s ITE.biz. However, this year, the government has decided to organise ITE.biz separately. When asked about the government’s absence, Mehul Shah, Managing Director, Hannover Milano Fairs India said, “The disagreement with the government over CeBIT India 2015 participation was purely on clash of interests, and there is nothing more.”He said, “CeBIT India is a purely business-to-business meeting and the State government wanted the event to be an investors’ meet for which CeBIT said it was not their strategy.”

Replying to a query on not inviting government’s representatives, Mr Shah said, “CeBIT India sent an invitation to Ministers, department heads and other officials.” To a query on the venue next year, he said, “That will be discussed after getting inputs from the participants and business community with whom CeBIT India is associated.”



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Hardware startups lament lack of funding

BENGALURU: Indian manufacturing startups operating in the space of vision inspection system, data monitoring and control and advanced Point of Sale (POS) solutions are vying for attention and funding at the software industry-dominated CeBIT.

Vision inspection system and self-learning system machines manufacturing startup Maxerience aims to automate quality control in dynamic manufacturing with its machines, said founder Pradeep VSR Pydah.

"Maxerience takes the photograph of a perfect product (Golden reference) and compares the quality of subsequent products for quality and pinpoints defects," he said, adding one of their clients manufactures 12,000 remote control key pads every day and employs four people to physically check for defects -- a task which they have automated.

Some of the technologies deployed by Maxerience are machine learning, motion control electronics, computer vision and mechanical design among others.

Self-funded Maxerience has four customers including a Fortune 50 company. It is also selling vision inspection systems for electronics manufacturing and 3D printing companies in South Korea.
Self-funded three-year-old data monitoring and control startup EMNICS makes systems for industrial data monitoring and failure detection, said its founder Jegajith PT, saying their technology can be used by a power plant company with operations in remote areas to monitor its machines remotely and avert failures.

Currently operating with eight employees, EMNICS aims to focus on Internet of Things (IoT) security in the future.

Easy Design Solutions is another hardware startup showcasing its Point of Sale (POS) products at India's largest software fair.

Its founder Soundararaj R Damodharan said, "There are so many POS machines in the market now, but many of them lack advanced features like cloud integration, ERP integration, online report generation, remote inventory management and advanced authentication mechanism among others. These are all packed in our POS machines."

Damodharan is seeking funding and marketing guidance from VCs, Angels and mentors.
However, one common fundamental pain point highlighted by the manufacturing startups is lack of funding and venture capital enthusiasm for manufacturing startups India.

"Everybody brags and exaggerates funding for software and e-commerce startups while ignoring manufacturing and hardware startups. The heart and soul of Make in India' and 'Digital India' is manufacturing... just check how much of funding trickled down to manufacturing startups," questioned a hardware startup founder who did not wish to identify himself.


News Source : Time of India (31st Oct. 2015)


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Startups from less IT-popular states represented at CeBIT

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Startups from less IT-popular states represented at CeBIT


As many as 11 IT startups from Indian states less popular for IT industry marked their presence at the three-day CeBIT India 2015 exposition propelled by Software Technology Parks of India (STPI).

The represented states included Rajasthan, Sikkim, Goa, Assam, Uttarakhand and Jammu and Kashmir (J&K).

Jammu and Kashmir-based five-year-old consultancy and web development startup LeLafe connected with many vendors at CeBIT, said Zeeshan Khan from LeLafe.

“It is very hard for IT companies to boom in J&K, government should help us. At CeBIT, I interacted with many other vendors opening up possibilities for collaboration, projects and resources,” Khan said.

With clients in the Middle East, the UK and the US, LeLafe also counts Jammu and Kashmir University as its client for which it executed an exam enrollment project.

“The Jammu and Kashmir government should encourage startups by giving state government projects to startups rather than outsourcing them,” Khan added.

Occupying a six square foot stall at Make in India pavilion freely provided by STPI, startup Bharatm Data’s S.Raman Prakash interacted with more than 150 clients of which 50 exhibited promise.

Dehradun, Uttarakhand-based Bharatm Data operates in the space of digitizing physical books into e-books and creating paperless business cards using QR codes.

“It is very pleasing to see these startups come from tier 2 and tier 3 cities from less IT popular states in India. The growth of IT industry is dependent on innovative startups. It is already high time that India should focus on building IT products than services, IT products increase revenue in leaps and bounds,” said Prabir K. Das, director, STPI.

Webx Technologies from Assam, Demi Solutions from Sikkim, Yusata Infotech and Neerja Software from Rajasthan and Umang Software Technologies from Goa are some other startups which showed up at CeBIT India 2015.

However, Infosystems & Solutions, the lone startup from Bihar missed the CeBIT India 2015 bus by being absent and leaving its allocated stall vacant for the entire three days.

Also, one more startup each from Sikkim, Orissa and Punjab also did not show up and left their space vacant while Karnataka occupied the lion’s share of the exhibition space by fielding 24 startups and MSMEs.

“STPI paid Rs.55,000 for each stall to CeBIT to enable these startups to showcase themselves. More than 100 stalls have been setup,” added Das.

Of the more than 100 MSMEs and startups roped in by STPI, 10 have been shortlisted from all the nine STPI jurisdictions to appear at CeBIT 2016 in Hannover for business development and finding additional markets.

Emnics Technologies, Vidushi Infotech SSP, Easy Designs Systems, iView Labs, Webx Technologies (from Assam), Linkwell Telesystems, Trimetric Software Solutions, Scientech Technologies, Thinkpalm Technologies and Webtown Solutions are the selected 10 startups.

“We will take the selected 10 startups from national exposure to international exposure,” added Das.

IANS


 News Source : Firstpost (01/11/2015)

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Progressive Punjab summit to focus on startups

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 Progressive Punjab summit to focus on startups


CHANDIGARH: Progressive Punjab Investor Summit 2015 scheduled for October 28 to 29 in Mohali will focus on startup businesses in the state by providing budding entrepreneurs an international platform to present their innovative ideas before those who have already made a mark in the industrial sector. It is for the first time that the summit is joining hands with Startup Accelerator Chamber of Commerce (SACC).

An official spokesperson said that 'Startup Weekend Punjab' will be a 54-hour new business ideas marathon to be held at Entrepreneurship Development Centre, IT Park in Chandigarh. The final business idea would be showcased before eminent guests from all over the country and prominent jury from industry, finance and academic backgrounds at the Indian School of Business (ISB), Mohali, on October 29.

The winners at this enterprise would be provided with free working space and bandwidth for six months up to one year by SACC,
  Software Technology Parks of India (STPI) and Progressive Punjab. Besides, all participants would be awarded with certificates. Google and Amazon being the partners of Startup Weekend Globally would award web/tech support prizes to participants.

Hry lowers stock limit of pulses for traders

Chandigarh: Haryana government has reduced the stock limit for retailers to control increasing prices of pulses and to check hoarding. The limit for dealers, including wholesalers, distribution agents and seller agents, has been reduced to 250 quintals from 500 quintals and 25 quintals from 50 quintals for retailers.

Official teams would extensively check stock holdings of all pulses in their respective districts to ensure that manufacturers, dealers and retailers have not stored more stock than the prescribed limit.

Chief minister Manohar Lal Khattar said on Wednesday that if any retailer was found keeping stock of pulses more than the prescribed limit, he would face action under the Haryana Prevention of Hoarding and Maintenance of Quality Order, 1977.

News Source : http://timesofindia.indiatimes.com/city/chandigarh/Progressive-Punjab-summit-to-focus-on-startups/articleshow/49372194.cms 

TNN | Oct 15, 2015, 09.43 AM IST

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