This startup fund will be the first to use iSAFE for investing

iSAFE, which stands for India Simple Agreement for Future Equity, is an alternative to a convertible security note. New venture capital platform 100X.VC will fund close to 20 startups between July and September. It plans to invest in 100 startups over the period of 12 months. These investments will be made through iSAFE notes. What … Read more

Should we have Robotics as a subject of study in schools?

Technology is what drives the world today, and students need to be in tune with the latest developments. Robotics in schools will give them a headstart Robotics as a career choice is gaining popularity among today’s students. Robots are machines that can either independently, or on command, carry out a series of operations and functions. … Read more

Linode Expands Global Data Center Network to India

MUMBAI, India, July 17, 2019 /PRNewswire/ — Linode, the world’s largest independent open cloud provider, opened its newest data center today in Mumbai, India. The data center expands the company’s global footprint to one of the fastest growing developer and technology regions in the world. The new data center is Linode’s tenth worldwide. In launching … Read more

MSME Ministry: SFURTI regenerating traditional coir, bamboo, and cane industries through cluster approach

MSME Minister Nitin Gadkari told the Lok Sabha yesterday how the Scheme of Fund for Regeneration of Traditional Industries (SFURTI) is making traditional industries more productive and competitive. Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises (MSME), told the Lok Sabha in a written reply yesterday that the ministry is implementing Scheme of … Read more

Interest equalization rate for pre & post shipment credit for MSME Textile exporters enhanced: Smriti Irani

New Delhi, July 12 (KNN) Government has enhanced interest equalization rate for pre and post shipment credit for exports done by Micro, Small and Medium Enterprises (MSMEs) of textile sector from 3% to 5% from November 2, 2018, said Smriti Zubin Irani, Union Minister of Textiles. In a written reply to Lok Sabha, she said “Benefits … Read more

New Space India Limited incorporated to tap benefits of ISRO: Sitharaman

A new public sector enterprise, New Space India Limited (NSIL), has been incorporated to tap benefits of the Indian Space Research Organisation (ISRO), said Union Minister Nirmala Sitharaman while presenting her maiden Budget in the Lok Sabha on Friday. “India has emerged as a major space power. It is time to harness our ability commercially. … Read more

Budget 2019: 80 business incubators, 20 technology incubators to be set up in 2019-20

In 2019-20, under Government’s flagship rural entrepreneurship focused ASPIRE Scheme ( A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship), 80 livelihood business incubators and 20 technology business incubators will be set up to produce 75,000 skilled entrepreneurs in agro-rural industries, announced the Finance Minister Nirmala Sitharaman while presenting the Union Budget 2019 in … Read more

Budget 2019: Five key income-tax related announcements FM made

While the income tax slab rates were kept unchanged, Finance Minister Nirmala Sitharaman on Friday announced a number of new income tax proposals while presenting Budget 2019. “My tax proposals will aim to stimulate growth, incentivise affordable housing, and encourage start-ups by releasing entrepreneurial spirits. It will also be geared towards promoting digital economy. I … Read more

Encouraging SMEs in international market: Ministry

Ministry of MSME is implementing Scheme of Fund for Regeneration of Traditional Industries (SFURTI) for making traditional industries more productive and competitive by organizing the traditional industries and artisans into clusters, said MSME ministry release on Thursday. The Scheme envisages providing need-based assistance for replacement of production equipment, setting up of common facility centres (CFC), … Read more

Financial creditors recover more under IBC, says Economic Survey

The Economic Survey said while the sustainable impact of the Insolvency and Bankruptcy Code (IBC) would be known in due course, green shoots had already emerged and some significant benefits of the IBC were visible. “The threat of promoters losing control of the company or protracted legal proceedings is forcing many corporate defaulters to pay … Read more