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RS. 569 crore invested in 120 startups; creates 6515 Jobs
NEW DELHI: A 19-point Action Plan for Startups was launched in January 2016. The Action plan covers areas of Simplification and Handholding, Funding Support & Incentives and Industry-Academia partnership and incubation. Department of Industrial Policy & Promotion, Ministry of Commerce & Industry is the nodal Ministry for successful implementation of the Action Plan.
Recognition of Startups
Modification of definition of Startups in May 2017 and improvements incorporated in the recognition process reduced the time taken for grant of recognition certificate from 10-15 days to 1-4 days currently. As a result, as against 797 recognitions in 2016-17, 7968 Startups received recognition in FY17-18. A total of 8765 Startups have been recognized by DIPP since Jan 2016. Of the recognized Startups, 15% are from IT services, 9% healthcare and life sciences, 7% education, 6% professional and commercial services, 4% agriculture among others. Of all directors of Startups, 35% are women. 6954 Startups have reported employment generation of 81,264. Additionally, 88 Startups have been certified for claiming tax exemptions by the Inter-Ministerial Board.
Preference in Public Procurement
The Government e-marketplace, GeM portal has been fully integrated with Startup India portal. Startups can now list their products and services on GeM and automatically receive relaxations on criteria of prior turnover, experience and submission of earnest money deposit.
Startup Intellectual Property Protection Scheme
Startups are eligible for 80% rebate in patent filing fees and 50% on trade mark filing fees. They are also eligible for free facilitation along with fast track examination of patent applications. 423 patent facilitators and 596 trademark facilitators have been nominated for this purpose. This scheme has benefited 671 patent applicants, 941 trademark applicants along with 144 expedited examinations.
Fund of Funds for Startups
SIDBI has committed Rs 1136 Crores to 25 VC Funds, who in turn have invested Rs. 569 crores in 120 Startups. These Startups have generated 6515 jobs including 1184 for women.
Startup India Hub
DIPP has also established the Startup India Hub, a single point of contact for the entire ecosystem to enable knowledge exchange and access to funding. The Startup India Hub works with Startups, incubators, investors, mentors, corporates and government agencies in a hub and spoke model. The Hub has addressed 88,566 queries over phone, email and social media. It has facilitated 494 Startups in business plan formulation, fund raising and policy advocacy. The Hub has entered into partnerships with 25 corporates to offer mentorship, acceleration and pro-bono services to Startups and entrepreneurs. An online platform for Startup India Hub was launched in June, 2017 to enable Startups, individuals and other ecosystem members to connect with each other, discover relevant government schemes, access events and competitions, tools and templates, online learning programs and other resources.
Over 41000 users have registered on the Hub and more than 4.4 million users have visited the Hub since launch. Startups can connect with 260 mentors and investors, 140 Incubators and 10 government agencies through the platform. The Hub platform also houses the Startup India Learning Program, an online program which assists entrepreneurs in building effective business plans and launching their businesses. Over 2 lakh persons have registered for this program so far.
Participation of States in Strengthening Startup Ecosystems
At the time of launch of this initiative, only 4 States had a stated Startup policy, whereas 19 States have implemented Startup policies now. To take this movement to the next level, State/UT Startup Ranking Framework has been launched on 6th February, 2018. The key objective of the Startup States Ranking Framework is to encourage States and UTs to take proactive steps towards strengthening the Startup ecosystems within their jurisdictions.
International Bilateral Cooperation
International bilateral cooperation with countries having strong Startup ecosystems- Israel, Singapore, Portugal and Sweden have been entered into by Startup India Hub to facilitate market access and promote investments. Under the India Israel Innovation Challenge, 665 Startups from India and 150 from Israel proposed solutions in the areas of Agriculture, Water and Health through an online challenge. 18 Startups from both countries were selected and have been offered cash prizes, 6 months incubation support and market access program in both India and Israel.
Regulatory Easing
21 regulatory changes to enhance ease of doing business, raising capital and reducing compliance burden have been undertaken. Insolvency resolution process is to be completed in 90 days for Startups as against 180 days for other entities.
Startup Yatra and Campus Connect Programs
The Startup India Yatra is an initiative that travels to Tier 2 and Tier-3 cities of India to search for entrepreneurial talent and help develop Startup ecosystem. The Startup Yatras have covered the States of Gujarat, Uttar Pradesh and Odisha where more than 18000 young entrepreneurs were supported through mentorship. Startup Yatra in Uttarakhand has recently been started on 2 April. Under the Campus Connect program, awareness workshops on Startup India initiative are being held at educational campuses across the country. 8 workshops have been held in institutions of national importance(IITs/IIMs/NITs/IISc).
Infrastructure Support
2441 Tinkering Labs are being established in selected schools with tools and equipment in science, technology, engineering and math to inculcate “do it yourself” spirit. 8 Research Parks are being established at IIT Kanpur, IIT Bombay, IIT Delhi, IIT Kharagpur, IIT Hyderabad, IIT Madras, IIT Guwahati, and IISc Begaluru.
Innovation Focused Programs for Students
Under the National Initiative for Developing and Harnessing Innovations (NIDHI), grand challenge was conducted to promote entrepreneurship among students, 224 applications were received. Under the Uchchatar Avishkar Yojana (UAY) 92 projects have been approved for execution worth Rs. 282.6 crores. Under the Million Minds Augmenting National Aspiration and Knowledge (MANAK), an award scheme to foster culture of innovation and research through focussed programs for students, 1 lakh students competed at district and State levels. 4 regional workshops were organized and top 60 ideas were showcased at Annual Festival of Innovation.
NEW DELHI: Yotta Data Services, an end-to-end Digital Transformation service provider, has announced that its state-of-the-art data centre facility, “Yotta G1”, located in GIFT city, Gandhinagar is ready for service (RFS).
The opening of this data center marks the debut of Yotta in Gujarat and progresses the company’s mission to provide digital services in India’s high-growth markets.
G1 is Yotta’s fifth data center facility in the country. It joins four large operational data centers, two of which, at Navi Mumbai and Greater Noida are part of hyperscale campuses. Yotta G1 is uniquely located inside the International Financial Services Center (IFSC) zone of Gandhinagar’s Gujarat International Finance Tec-City (GIFT city).
G1 represents an investment of more than INR 500 cr. over five years across critical non-IT and IT / Cloud / AI compute infrastructure. The data center has a capacity of over 350 high-density racks and 2 MW power (which can be scaled further as per demand). The facility is designed to meet the most demanding digital needs of its customers, who may be located within GIFT City or anywhere in the world, by seamlessly delivering fault-tolerant facility infrastructure, high-performance Cloud compute and storage infrastructure, advanced physical and cyber security, unmatched connectivity, and steadfast sustainability.
For large global enterprises operating in the GIFT City IFSC zone, the G1 data center functions as a potential data embassy, whereby their data stored is subject to the laws and regulations of their home country, thus allowing them to maintain sovereignty over their data, even when stored in India. By storing data in a physically different location, global enterprises can ensure continuity of operations in case of major disruptions within their borders. The data center’s location also ensures compliance with the IFSC regulations, providing businesses in the zone with distinct advantages like free foreign exchange convertibility, a liberalised regulatory environment, and business-friendly policies. It also helps enterprises adhere to IFSC’s compliance requirements, including being mandated to host their data within the IFSC zone.
Commenting on the announcement, Darshan Hiranandani, Co-founder and Chairman, Yotta Data Services, said, “The state of Gujarat, with GIFT City, has been at the forefront of providing a viable and sustainable platform for global businesses to set up base in India. The setting up of the IFSC zone is a further testament to their vision for financial services companies. We are proud to support this vision of the Gujarat government with a state-of-the-art data center within the IFSC zone, providing the latest and best in cutting-edge technologies to help businesses set up and scale their businesses while also adhering to all regulatory requirements.”
Adding to this, Sunil Gupta, Co-Founder, MD & CEO, Yotta Data Services, said, “Yotta’s G1 marks a pivotal milestone in delivering high-end data center, Cloud, AI compute, storage, connectivity and cybersecurity services to enterprises both on a global and local scale in the Gujarat region. Besides serving the domestic enterprises within and outside GIFT City, our data center shall serve as a potential data embassy for global enterprises, enabling them to adhere to their respective country’s laws while offering a dependable and secure locale for offshore data storage.”
G1 data centre stands distinct in GIFT city for being a data center offering more than just colocation services. True to Yotta’s stature as the end-to-end digital transformation partner of choice for enterprises, G1 brings forth a suite of key features, ranging from advanced data security and customised business solutions to an indigenous hyperscale cloud offering, AI-GPU compute offering, state-of-the-art infrastructure, cybersecurity expertise, seamless integration with managed IT services, 24/7 customer support, cost optimisation, and an overall competitive edge.
This announcement follows on the heels of Yotta’s recent launch of its cloud services – Shakti Cloud and Yntraa Cloud. Powered by NVIDIA’s top-of-the-line GPUs, Shakti Cloud is India’s largest & fastest AI-HPC supercomputer, delivering cutting-edge GPU computing infrastructure, platforms, and services, including Infrastructure as a Service, Platform as a Service, and Software as a Service. Yntraa Cloud, on the other hand, is a truly indigenous hyperscale cloud platform at par with global cloud platforms, offering an exhaustive range of cloud products and services.
NEW DELHI: Domestic contract manufacturer Optiemus Infracom has entered into a joint venture with US-based speciality glassmaker Corning International to set up India’s first manufacturing facility for producing high-quality finished cover glass parts for the mobile consumer electronics industry.
The collaboration between both the companies will help expand India’s electronics manufacturing ecosystem, as the Indian government strengthens its Make in India initiative. As a part of the joint venture, the companies strategically aim to set up a world-class manufacturing facility in India, powered by cutting-edge technologies and processes.
Driven by a shared commitment to innovation and technological excellence, this collaboration will pave the way for the manufacturing of “Made in India” finished cover glass parts for use in mobile consumer electronic devices, and other cover glass applications, to meet the needs of next-generation mobile consumer electronic devices.
The joint venture signifies a powerful synergy between Optiemus’s deep domestic industry and manufacturing knowledge of electronics and telecom market and Corning’s globally-acclaimed expertise in advanced glass technology. By combining these strengths, the joint venture aspires to not only establish cover glass manufacturing capabilities and capacity in India, but also to contribute significantly to the creation of jobs and skill development within India’s thriving technology sector, the companies said in a statement.
Ashok Kumar Gupta, Chairman, Optiemus Infracom, said, “It is a matter of great pride for us to actively contribute to the growing manufacturing ecosystem in the country. With this joint venture, initiated in line with the vision of Hon’ble Prime Minister of India of ‘Make in India’ programme and the “Atmanirbhar Bharat” initiative, we are committed to make available world-class high-quality products for global and local brands.”
“Embarking on this new journey, we intend to emerge as one of the top manufacturers of finished cover glass parts for use in mobile consumer electronic devices in the next five years. Our collective expertise in innovation, design, and manufacturing, will provide holistic solutions for the brands,” Gupta added.
NEW DELHI: Chipset maker MediaTek, which claims to power more than two billion connected devices every year, hosted ‘Catch-up with Tech’ in collaboration with handset brand Infinix on August 28 to share insightful and engaging conversations about the new-age smartphones and innovative technologies powering everyday lives.
The meet-up threw the spotlight on the MediaTek Dimensity Auto, Satellite solutions and Generative AI along with an extensive showcase of newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, Infinix GT 10 Pro powered by MediaTek Dimensity 8050, and Infinix QLED TV powered by MediaTek.
In terms of specs, the Infinix Zero 30 5G is tailored for young storytellers and creators, featuring the first-ever smartphone to deliver 4K 60fps video recording from its 108 MP OIS rear camera and ultra-high resolution 50MP front camera. The Zero 30 series powered by MediaTek Dimensity 8020 is said to be a game changer for the front camera vlogging experience along with being the slimmest curved AMOLED smartphone in the segment with glass and a vegan leather back panel. It also claims to be one of the most premium-looking devices in the segment.
The event witnessed a panel discussion moderated by Anuj Sidharth, Deputy Director Marketing & Corporate Communications, MediaTek and included expert panelists from Infinix, MediaTek and two renowned professional photographers.
“With the fifth edition of Catch-up with Tech, we aim to bring consumers closer to the technology and enable them to make informed buying decisions based on their diverse needs. In collaboration with Infinix, this meet-up is in-line with MediaTek’s vision of technology democratization and making innovative technology accessible to everyone,” said Anku Jain, Managing Director, MediaTek India. “The MediaTek Dimensity 8020 in Infinix Zero 30 5G brings faster displays, brilliant cameras and ultra-fast performance. Further, MediaTek Imagiq technologies enrich the capture experience by combining dedicated AI, imaging processors and accelerators to provide incredible results,” he added.
Anish Kapoor, CEO, Infinix Mobile India, said, “Featuring India’s first 50MP 4K 60 fps video recording, Infinix Zero 30 5G is primed to redefine smartphone imaging capabilities, setting a new standard for the creators and vlogging enthusiasts. Our collaboration with MediaTek has played a pivotal role in shaping our exceptional smartphone portfolio, and the Zero 30 5G stands as evidence of our unwavering commitment to innovation and delivering unmatched experiences to our users. The display and design of the device represent a leap forward in smartphone technology. As Infinix Zero 30 5G hits the shelves, we are positive that our customers will find this new offering as exhilarating as we do, further empowering creators to capture their story like never before.”
Radhakrishnan Chakyat, a photography evangelist, founder and host of Pixel Viilage, said, “Infinix Zero 30 5G smartphone powered by MediaTek Dimensity 8020 chipset has amazing hardware features, an excellent camera, dual-view video mode and is primed for optimal content creation and saves a tremendous amount of editing time.”
Aarzoo Khurana, a wildlife photographer, said, “Over the last few days, I clicked various pictures and recorded a few videos with the newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, and the experience has been truly inspiring. Infinix’s smartphone’s OIS feature helps content creators click shake-free pictures and the front camera, which is extremely sharp and detailed, enables content creators to click countless selfies.”
