Top Trending StartUps News & Highlights
By issuing bonds, Navi Finserv, owned by Sachin Bansal, raises INR 150 Cr.
SUMMARY: The investors include Rishad Kairus Dadachanji, Pervin Kairus Dadachanji, and Kairus Shavak Dadachanji, the chairman of the Dadachanji Group, who have contributed INR 110 Cr. This occurs months after the loan startup declared its intention to use NCDs to raise INR 600 Cr. Cofounded in 2012 by Sachin Bansal and Ankit Agarwal, Navi Finserv specializes in lending products such as home, auto, and personal loans.Navi Finserv, a fintech unicorn run by Sachin Bansal, reportedly obtained INR 150 Cr through the issuing of bonds from six individual investors, following the company's announcement months earlier of aspirations to fund up to INR 600 Cr through the issuance of Non-Convertible Debentures (NCDs).An hour ago
Published 06 Jun 2024 10:08 AM
WinZo announces selection of 18 gaming startups to represent India at Gamescom Latam
The games that are included come in a variety of categories and genres, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. Eighteen gaming businesses have been chosen by the vernacular skill gaming platform WinZO and the Department for Promotion of Industry and Internal Trade's (DPIIT) Startup India to represent India at Gamescom Latam, one of the biggest games exhibitions in the world. Games from a variety of categories and genres are included on the list, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. According to the organization, these businesses are based in both bigger cities like Nashik and smaller ones like Hyderabad, Chennai, Pune, Kolkata, Bengaluru, Mumbai, and Delhi NCR. The titles that have been chosen include the cross-platform game Gods Of Cricket, the role-playing game Tanhaji The Maratha Warrior, the first-person survival horror game Kamla: Indian Exorcism, the narrative-driven 3D action-adventure game Unsung Empire: The Cholas, and the action role-playing game Frontier Paladin. The list also includes Kurukshetra: Ascension, an epic strategic card warfare game, Mr. Racer, a racing game for cars, Spook-A-Boo, an arcade game, and My Dream House, a casual Match3D+Decor game. Other games include the real-time chess game Tale of Honor, the shooter game Laser Tanks, the tile-matching game Timmy's Toy Rush, the puzzle game DetectiveIQ, the cricket game Bharat Cricket Premier League, the adventure game Mumbai Gullies, the hypercasual action game Elemental Escape, and the simulation game Tea Garden Simulator, which allows users to build and run their own tea empire. WinZO stated that a panel of seasoned industry professionals, including Suresh K Reddy, the Indian ambassador to Brazil, and Rohit Kumar Singh, the former secretary of the Indian government, chose the games from a pool of more than 100 technology and gaming businesses and technological institutes. (Fundação Getulio Vargas' São Paulo School of Business Administration) were also part of the panel. "India is positioned to lead the way in technical innovation because to its foundation of cutting-edge inventions and dedication to developing domestic talent. In a statement, Singh stated, "WinZO exemplifies this trajectory, harnessing the power of Indian creativity and technology to impact the global stage significantly." India's entry into LATAM, propelled by the export of technology and intellectual property, opens up new opportunities for our technology entrepreneurs, according to Rajesh Kumar Singh, Secretary, DPIIT. Developers who participate in this program pursue their goals and help India become a global leader in technology exports."
Published 06 Jun 2024 10:07 AM
DroneAcharya's Operating Revenue Soars 90%, Net Profit Doubles To 6.2 Cr in FY24
SUMMARY DroneAcharya's operating revenue climbed from INR 18.56 Cr in FY23 to INR 35.19 Cr in FY24, an almost 90% rise. The firm ascribed this rise to the business's constant and steady expansion as a drone solution supplier and drone-focused training institution. The startup's overall revenue increased to INR 37.35 Cr in FY24 from INR 19.13 Cr the previous year, including other revenues.In the fiscal year 2023–24 (FY24), the drone startup DroneAcharya Aerial Innovations, based in Pune, declared a consolidated profit after tax (PAT) of INR 6.2 Cr, over two times higher than the INR 3.42 Cr recorded in the same period of the previous fiscal year.Operating revenue for DroneAcharya climbed by about 90% from INR 18.56 Cr in FY23 to INR 35.19 Cr in FY24. The company's continuous and consistent growth as a drone solution provider and drone-centric training organization was credited by the startup for this increase.DroneAcharya, established in 2017 by Prateek Srivastava, provides a range of drone solutions for data processing, multi-sensor drone surveys, and pilot training, among other uses. Last year, the business ventured into the production of drones. In July 2023, it entered into a commercial production, assembly, and export agreement for drones and related goods with Gridbots Technologies, a robotics business based in Gujarat.The startup's overall revenue increased from INR 19.13 Cr to INR 37.35 Cr in FY24 when other income was factored in."At the moment, DroneAcharya is the top and most innovative DGCA-certified drone pilot training provider in India for the private sector. The company added in a statement that it has also made great progress in securing several international drone service projects, valuable industrial relationships with drone manufacturers, investments in drone-related businesses, and acquisitions of value-adding enterprises in India and throughout the world. DroneAcharya operated two DGCA-certified drone pilot training facilities in Pune and Gujarat up till last year. The corporation added two more new centers at IIT Ropar in Punjab and Jaipur in FY24, doubling the number. "The introduction of our line of type-certified agricultural spraying drones will be our first rollout for FY25. We are also steadily advancing internationally, emerging as one of India's foremostNoteworthy is the fact that DroneAcharya Aerial Innovations received an order earlier this year from the Adani Group to offer drone pilot training certified by the Directorate General of Civil Aviation (DGCA). Additionally, it obtained a contract in January from the Indian Army to supply advanced drone training and capacity building at the Mechanized Army Courses Group in Ahmednagar. It entered into an agreement with Vimaan Aerospace in February to supply drones, as well as services and training linked to drones.
Published 06 Jun 2024 10:06 AM
India Receives Its Second Space Port, Excitement for Rocket Startups
Today, Prime Minister Narendra Modi will lay the foundation stone for India's second launch site, Kulasekharapatnam, which is situated in the Thoothukudi district of Tamil Nadu. This will significantly advance the nation's spacefaring endeavors. The new launch pad has the small rocket community in India, including ISRO and startups, giddy with anticipation for more efficient small rocket launches.Up until now, all rockets used to launch satellites into orbit were launched from the nation's single spaceport, which was located in Sriharikota, Andhra Pradesh. To date, India has launched 95 rockets from Sriharikota, 80 of which have been declared successful. Renamed the Satish Dhawan Space Center, it began modestly in 1971 with the launch of a sounding rocket, the RH-125. The center is currently getting ready for India's human spaceflight project, Gaganyaan, to launch. Satish Dhawan Space Center has a distinct advantage—it is one of the world's southernmost rocket ports—but it also has a major disadvantage. The land mass of Sri Lanka presents a safety concern for rockets launching in polar or southerly directions because it keeps rocket debris from landing on foreign soil.In order to lessen this, ISRO has traditionally carried out a unique manoeuvre referred to as the "dogleg maneuver" in order to avoid Sri Lanka when conducting direct southward launches. Although there is a penalty for this maneuver, it can be tolerated for larger rockets with sufficient fuel, such as PSLV, GSLV, and LVM-3. But the advantages of using Sriharikota as the preferred launch site become clear as India gains proficiency in the launch of smaller rockets, such as the Small Satellite Launch Vehicle (SSLV), which can carry satellites weighing up to 500 kilograms. According to an ISRO rocket specialist, it becomes almost impossible to launch small rockets from Sriharikota in polar or southern trajectories with payloads weighing between 500 and 700 kg. As a result, Kulasekharapatnam has been chosen as the second launch site to address these issues because of its expanding small rocket market.
Published 28 Feb 2024 05:29 PM
StartUps
StartUps are the backbone of any country and in any Industry as these are the new ventures which entrepreneurs establish and then contribute to the nation growth and progress. The stratups will then grow and become unicorns and create thousands of employments in different sector boosting the economy and take it to the next level.
Ola integrates a meal delivery plugin with ONDC.
Major ride-hailing company Ola has joined the Open Network for Digital Commerce (ONDC), an online marketplace established by the Indian government to link consumers and businesses.The Bengaluru-based business has been working with ONDC on a test program since August, when it introduced a new "ONDC Food" option to the Ola app. Currently in its pilot stage, the feature is available to a limited number of Ola customers as well as Ola workers. Up until Friday night, it was exclusively accessible to staff members. After that, a select set of users began using it. On Friday afternoon, ET was the first to report on the development.Ola benefits greatly from this ONDC connection since it eliminates the headache of figuring out how to integrate customers and restaurant partners. The next move would be to start delivering food to customers other than staff, an individual with intimate knowledge of the situation told ET.Interestingly, online markets for food delivery, online commerce, and online mobility see ONDC as a rival. Restaurants and food chains on ONDC can provide more competitive prices for food delivery since, depending on the buyer-seller agreements, fees are either reduced or eliminated.
As Startup India moves into phase-II on January 16, deep tech is the focus.
With an emphasis on deeptech businesses, the central government is getting ready to launch the second phase of its Startup India program on Tuesday, January 16, of next week.These firms will focus on important fields like semiconductor chips, quantum computing, artificial intelligence, and cybersecurity, according to an ET story that cited officials.It is expected that the second phase of the Startup India initiative will offer more assistance to entrepreneurs, such as more stable rules and taxes, better standards for valuation, and more chances for research and engagement with academic and industry partners. Launched on January 16, 2016, the Startup India initiative seeks to create a strong ecosystem in the nation that supports innovation and startups, hence promoting sustainable economic growth and creating significant job possibilities.In addition to focusing on other industries including manufacturing, biotechnology, agriculture, social services, healthcare, and education, the action plan aims to quicken the startup movement in the digital and technological sectors. In line with the government's continuous attempts to spur growth in this industry, the second phase of the Startup India initiative places a strong emphasis on deeptech businesses. On July 31, 2023, the Draft National Deep Tech Startup Policy (NDTSP), 2023, was made available for public comment.
Rural startups want greater access to capital, better infrastructure, and an enhanced supply chain.
From streamlined supply chains to subsidies, better infrastructure, and easy access to funding, rural companies are putting up a strong fight for new programs designed to boost research and innovationStartups operating in different sectors, particularly in smaller towns and villages, said that as the Lok Sabha elections and the Budget approach, they anticipate the government will examine a number of teething problems, even though their "overall performance has improved owing to various policy changes in the past couple of years.""A number of challenges, including obsolete machinery, inefficient supply chains, inadequate infrastructure, and limited financing availability, confront India's food processing business. Pardeep Kumar Yadav, the founder of Krini Spices, told PTI, "We expect the government to help us connect with global supply chains so we can export our products to international markets."Startups operating in different sectors, particularly in smaller towns and villages, said that as the Lok Sabha elections and the Budget approach, they anticipate the government will examine a number of teething problems, even though their "overall performance has improved owing to various policy changes in the past couple of years".
SentinelOne, a US-based company, purchases PingSafe, a Bengaluru cybersecurity startup.
SentinelOne, an AI-powered cybersecurity startup based in the United States, said on Wednesday that it has reached an agreement to purchase Bengaluru-based PingSafe for an undisclosed sum.The Mountain View, California-based business said in a statement that it will buy PingSafe for a mix of cash and stock, and that the deal is anticipated to close in SentinelOne's first quarter of the 2025 fiscal year, contingent upon customary closing conditions and any necessary regulatory approvals.The Mountain View, California-based business said in a statement that it will buy PingSafe for a mix of cash and stock, and that the deal is anticipated to close in SentinelOne's first quarter of the 2025 fiscal year, contingent upon customary closing conditions and any necessary regulatory approvals.Bengaluru: The $100 million purchase of Bengaluru-based cloud security platform PingSafe by NYSE-listed SentinelOne is hailed as the greatest acquisition in the history of Indian cyber security startups. According to Barclays' report, the transaction is made up of both cash and stock.Companies won't have to deal with the complexity of multiple-point solutions, triage and analyze cases with insufficient context, or stream data between different data silos thanks to this new approach to cloud security. Rather, companies can manage their whole attack surface from a single platform that offers all the analytics, real-time interaction, and full context required to correlate, detect, and thwart multi-stage attacks in a straightforward manner—unlike old CNAPP and standalone solutions.
Uber comes up with its Flexible Pricing Service
Uber, a well-known ride-hailing company, is now testing its flexible pricing service, which lets commuters bid a specific fee for their route, in a number of Tier 2 and Tier 3 towns in India.A representative for Uber stated in a statement, "We are currently piloting this feature in some of the tier 2 and 3 markets in India.Additionally, Uber Flex is being tested in Latin America, Kenya, and Lebanon. In contrast to Uber's conventional pricing structure, Flex lets users choose from nine pricing points and bid any amount they like, with a default price already chosen.Drivers in the vicinity can then accept or decline the ride based on the fare that the passenger has chosen.In a similar vein, drivers can quote their charges to the user. The ride is finalized once they select the driver whose offer most appeals to them. Currently, users of inDrive, another ride-hailing app, can manually enter a certain fare. In Drive announced its intention to use the $150 million it raised in February of last year to assist its ongoing growth as well as customer acquisition and retention. Uber is working on a new feature called "Uber Flex" that would let Indian customers select the fare that suits them best. The function, which is presently undergoing testing in a number of Indian locations, is anticipated to allay worries about rising ticket prices. The Uber Flex function was first tested in October of last year, according to a TechCrunch article. The Uber Flex feature was tested in several Indian cities, including Aurangabad, Ajmer, Bareilly, Chandigarh, Coimbatore, Dehradun, Gwalior, Indore, Jodhpur, and Surat. Uber informed the publication, "We are currently piloting this feature in some of the Tier 2 and 3 markets in India."
Namma Yatri and Bengaluru City Police collaborate to introduce a program for female drivers.
App for automatic booking Mahila Shakti, an initiative by Namma Yatri, aims to increase the number of female drivers. The Bengaluru City Police and this initiative were partners in its launch.This curriculum provides a thorough one-month training course covering safe driving, traffic rules, maintenance of vehicles, and practical driving. It also helps women launch their own automobile enterprises.After the ladies finish the program, Namma Yatri helps them own low-interest cars through financial institutions and provides them with electric cars for a small daily rent.On January 5, 2024, the Namma Yatri app company launched Mahila Shakti in Bengaluru. In partnership with Bengaluru police and non-governmental organizations, ride-booking service Namma Yatri announced plans to hire 1,000 women drivers over the next six months.Bengaluru: In partnership with the Bengaluru City Police, Parihar, and the Dr. B R Ambedkar Health and Education Foundation, Namma Yatri, the city's community-focused ride-booking app, has introduced the Mahila Shakti program, which is aimed at empowering women drivers. The goal of this program is to enable women from a variety of backgrounds to become skilled electric vehicle drivers. A thorough one-month training course including practical driving, traffic rules, safety, and car maintenance is provided by the Mahila Shakti program. It also helps women launch their own automobile enterprises. The initiative, which targets women between the ages of 25 and 45, opens doors to increased income, financial independence, and flexible work schedules. Following the free training, Namma Yatri helps women obtain low-interest car loans from financial institutions and gives them access to electric cars for a little daily fee."We are thrilled to launch this program, in line with our mission for women's empowerment," said Parihar's leader, Smt. Rani Shetty. It is encouraging to see more women taking up driving, as this makes Bengaluru a safer and more welcoming city. Juspay's Chief Product Officer, Magizhan Selvan, discussed the advancements, saying, "Since August 2023, we have been empowering women drivers in partnership with NGOs like Shishu Mandir." We take great pride in the 50 female drivers we employ, who between them have driven 55,000 kilometers, served 11,000 clients, and earned a total of Rs. 12 lakhs. By June 2024, we want to have 1000 women driving. Lead trainer Nagalakshmi S P talked about her own experience, saying, "Being an auto driver was a turning point to support my family." Taking the lead on this project makes me very happy.A ground-breaking program that promotes women's economic empowerment and questions established gender conventions is the Mahila Shakti Electric Auto Program. With its EV technology and user-friendly software, it makes the acceptance of driving as a career easier. Due to increased freedom and higher pay, participants evaluated driving automobiles as more favourable than traditional career options like housekeeping or shopkeeping. Women who are interested in participating in the program can reach Namma Yatri at 080-69724800 or 8618963188 via WhatsApp.
Rajat Diwakar is appointed CEO of iD Fresh Foods India.
Rajat Diwakar has been named CEO of iD Fresh Food's India division, the business announced on Friday. Diwakar worked as the Managing Director of Marico Bangladesh Limited before being hired by iD Fresh Foods. Additionally, he has over 20 years of experience leading FMCG companies.Leader of iD Fresh India, Rajat Diwakar Delhi, New: iD Fresh Food, a ready-to-cook packaged food firm, strengthened its leadership team on a national and international level on Friday by appointing industry veteran Rajat Diwaker as the India CEO and PC Musthafa as the Global CEO.Today, iD Fresh Food announced the appointment of Rajat Diwaker, a seasoned industry veteran, as the CEO for India. Rajat is a seasoned professional with more than 20 years of experience in the FMCG sector. He was the Managing Director of Marico Bangladesh Limited in his previous position. Additionally, he serves as a director on the board of Bangladesh's Foreign Investors' Chamber of Commerce and Industry (FICCI).In addition to continuing to lead the board of directors, PC Musthafa, who founded iD Fresh and served in that capacity for almost 20 years, now assumes the position of global CEO. Musthafa will be in charge of iD Fresh's worldwide market innovations, as well as international expansions, strategic acquisitions, the development of food-tech capabilities, and organizational culture inspiration.iD Fresh plans to designate specific Business Heads and CEOs for every international market as part of its expansion strategy. In actuality, the business is currently employing a US CEO. At present, more than one-third originates from sources outside of India. In 2024, the company intends to increase its presence in the current markets while branching out into new ones like Singapore and Australia.The global CEO of iD Fresh Food, PC Musthafa, commented on the most recent development, saying, "iD Fresh's journey has been incredibly rewarding so far, and we continue to make tremendous strides." I'm happy to have Rajat Diwaker join the iD Fresh team. I have no doubt that in the years to follow, we will accomplish greater things and win over more hearts under his capable and visionary leadership. And because of the unwavering support from customers that we have accumulated over the years, I am excited to lead the brand into new international markets as we set off on new experiences.
Prerna Korla becomes a Director of Communications for Asia Pacific at Mastercard.
Prerna Korla is a new Director of Communications for Asia Pacific at Mastercard. With over 15 years of significant experience, Prerna is a communication and PR specialist who has worked with leading Indian and international B2B and B2C brands. Prerna spent more than two years as Manager, Senior Communications at Microsoft before joining Mastercard.She was the Uber South Asia and India Consumer Communications Lead. Prerna has also collaborated with a number of PR companies, such as Edelman and MSL Group India. Prerna Korla has been appointed by Mastercard India as the director of communications for Asia Pacific. She leaves Microsoft after working there for two years as a senior communications manager. Korla updated her LinkedIn post on this development. Korla was the head of customer communications for a brief period of time at Uber before.
In 2023, India Lost A Hefty $584 Mn Due to Internet Shutdowns
VinFast, an electric vehicle manufacturer located in Vietnam and considered a competitor of Tesla and BYD in China, is expected to establish its first manufacturing facility in Tamil Nadu, India. Batteries intended for electric vehicles will be produced at the company's new plant in Thoothukudi, according to Reuters, which cited people with direct knowledge of the situation.According to one of the persons who spoke with Reuters, "Several VinFast officials have visited Thoothukudi district in Tamil Nadu to check out sites." There were rumors in September that VinFast had started employing people in India for back-office, sales, and legal positions. But it's unclear how much VinFast would invest and when it will start operating in Tamil Nadu.The corporation is looking into ways to enter the Indian market with electric automobiles and scooters.In 2023, internet outages cost India $585.4 million in lost revenue, according to a report published by UK-based review website Top10VPN. According to the survey, 59.1 million Indians were affected by 7,812 hours of internet blackouts and 144 hours of social media shutdowns that the nation experienced throughout the year.
VinFast, A Rival To Tesla, Is Likely To Construct An EV Battery Plant In India
The test-prep startup Unacademy reported that, despite constant layoffs at the company, its losses in FY23 decreased by 41% to Rs 1,678 crore. In FY23, employee-related expenses decreased by 28% to Rs 1,281 crore.The test-prep startup Unacademy reported that, despite constant layoffs at the company, its losses in FY23 decreased by 41% to Rs 1,678 crore. In FY23, employee-related expenses decreased by 28% to Rs 1,281 crore.In what was a difficult year for the startup environment, many modern businesses, like Myntra, ZestMoney, and Curefoods, reported stronger revenues for FY23, but their losses also increased.Revenue at Myntra rises to Rs 4,375 crore: The apparel retailer Myntra, which is owned by Flipkart, reported a 25% increase in operating revenue to Rs 4,375 crore in FY23, despite a 31% increase in losses to Rs 782 crore. The online fashion platform's largest expense, amounting to Rs 1,758 crore, was spent on advertising and promotional activities, representing a 35% increase over the previous year.Unacademy reduces losses to Rs 1,678 crore, or 41%: Unacademy, a startup providing test preparation, reported that its losses in FY23, which included several layoffs at the company, decreased by 41% to Rs 1,678 crore. The Bengaluru-based firm saw a 26% increase in sales to Rs 907 crore during the year, while costs associated with payroll decreased by 28% to Rs 1,281 crore.ZestMoney reports a loss of Rs 412 crore. ZestMoney, a troubled startup that has been searching for a buyer, declared a net loss of Rs 412.4 crore for the fiscal year 2023. On the other hand, while total expenses increased by 21% to Rs 662.2 crore, overall revenue for the buy-now-pay-later platform increased by 72% to Rs 250 crore.
How HRtech Startup Erekrut Is Revolutionizing Employers Hiring and Employee Job Search Processes
Since the start of the Covid-19 outbreak, hiring has been erratic. The alternatives available to recruiters have changed over time, ranging from totally remote, tech-driven interviews to in-person meetings brought on by the present back-to-office demands. Job seekers have also witnessed seismic shifts, with tech giants facing broad cuts and the "Great Resignation" giving way to enormous layoffs. Nevertheless, it's still difficult to get qualified applicants through the door, even in this unstable labor market. As a result, businesses and recruiting managers seek to create a talent pipeline that is both efficient and affordable, as well as future-proof recruitment. There are numerous elements to a successful talent hunt, such as finding the ideal candidate, creating a memorable application process, and providing individualized growth plans. Additionally, hiring must be quick and scalable in order to avoid losing out on top talent, income, and credibility for the business. To keep ahead of the curve, nothing really works better than quickly identifying the top candidates for open positions and automating processes. However, in 2019 Amity University fashion student Ajay Goyal witnessed the other side of the story while working as a volunteer for the university's campus-to-corporate program. It was obvious at the time that traditional hiring would need to be fixed because of its drawn-out processes, slow candidate responses, and general impersonal approach that failed to draw in or accommodate outstanding talent. Ajay, being one to let things slide, went to his father, Dr. Ravinder Goyal, who was a professional with almost thirty years of expertise in vocational training and placement.
A diagnostics business is getting ready to launch a blood testing product in Austin and San Antonio.
Babson Diagnostics has successfully obtained important FDA clearance for its blood testing products following years of cooperation and trials. Listen to the most recent episode of Texas Business Minds to hear about the startup's history, its funding efforts, and the Texas towns it plans to debut in this year, including San Antonio.A diagnostic firm is getting ready to launch a blood testing product in Austin and San Antonio. Babson Diagnostics has successfully obtained important FDA clearance for its blood testing products following years of cooperation and trials. The creator of Babson Diagnostics is getting ready to introduce a cutting-edge blood test device. The founder, COO, and chairman of Austin-based Babson Diagnostics, a blood testing firm, is Eric Olson. He was recently a guest on the Texas Business Minds podcast.
Pre-Series A Funding of Rs 10 Crore is Secured by Settl for Co-Living Expansion
In a pre-series A investment round, investors including Gruhas, We Founder Circle, Inflection Point Ventures, and others have contributed Rs. 10 crore to the proptech startup Settl. Settl., which was founded in 2020, intends to use the money for technology advancement, staff growth, and working capital.With 60+ locations across Bengaluru, Hyderabad, Gurugram, and Chennai, Settl. is a co-living operator that offers 4000 beds, mostly for working people, for rental fees between Rs 12,500 and Rs 18,000 per bed.To date, the portal that lets users look for and rent completely furnished rooms, flats, or communal living spaces has raised a total of Rs 15 crore.Another IIT Madras initiative aims to support 100 businesses by 2024. By 2024, 100 companies from a variety of industries will be supported by the IIT Madras Incubation Cell (IITMIC), the institute's central hub for fostering, advising, and supervising diverse innovation and entrepreneurship initiatives."We at IIT Madras take tremendous satisfaction in the fact that we innovate a lot more. In 2024, we also want to launch 100 start-ups. A number of intriguing innovations are also emerging from IIT Madras-incubated start-ups, including Mindgrove Tech, AgniKul Cosmos, and Hyperloop start-up The ePlane Company. These startups will produce goods that are extremely important to the country." remarked Professor V. Kamakoti, Director of IIT Madras.
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In 2023, Top10VPN calculated the worldwide economic impact of shutdowns, which included 79,238 hours of government-mandated internet outages, to be $9.01 billion. This indicates that India was responsible for approximately 6.5% of the total economic damage caused by internet outages worldwide.The cost of these disruptions—which included significant ISP throttling, internet blackouts, and shutdowns of social media—was estimated using a variety of metrics from the US Census, the World Bank, the ITU, and Eurostat.In India, internet outages are not unusual. India experienced 92 internet shutdown occurrences in 2023, and just a few days into 2024, the nation has already recorded another internet outage, according to SFLC.in's internet shutdown tracker. Furthermore, the Center has a history of taking action against particular websites and pressuring social media companies to remove content at their request. Authorities have disagreed with digital rights advocates over shutdowns, despite citing grounds including putting an end to rumors and misinformation.Since many users rely on online services for information and business, internet disruptions come at a high cost since they reduce trade, which has an economic impact.
