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K'taka govt ready to be startups' 1st customer: State IT Minister

InshortsInshorts ยท 1y ago
K'taka govt ready to be startups' 1st customer: State IT Minister
Medial

Priyank Kharge, Minister of IT, BT, and Rural Development and Panchayat Raj for the Government of Karnataka, shared the state government's five-point plan to boost the startup ecosystem. This plan includes forming a skill advisory committee, establishing centers of excellence, creating a global innovation alliance, expanding startup growth beyond Bengaluru, and improving ease of doing business. Kharge emphasized the importance of focusing on value and solving real-life problems rather than chasing valuation. The Karnataka government has implemented various initiatives such as the Elevate program and a state startup policy to support startups. Additionally, Kharge highlighted the government's efforts to encourage entrepreneurship outside of Bengaluru and facilitate direct access to venture capitalists.

30 Startups To Watch: Startups That Caught Our Eyes In September 2024

Inc42Inc42 ยท 11m ago
30 Startups To Watch: Startups That Caught Our Eyes In September 2024
Medial

- This edition of '30 Startups to Watch' highlights innovative young companies from various sectors like deeptech, SaaS, semiconductors, D2C, spacetech, AI, fintech, and healthtech. - Only six out of the featured startups have raised more than $2 Mn, while the majority are either bootstrapped or have raised under $1 Mn. - Bengaluru is the location for nearly 60% of the startups in this edition, followed by Delhi NCR. - The focus is on showcasing the most exciting and promising startups that are gaining momentum in the market. - The edition provides a valuable opportunity for investors, entrepreneurs, and industry experts to discover new and potential business ventures. - Each featured startup brings unique solutions and technologies that have the potential to disrupt their respective industries.

Lavni Ventures announces first close of early stage deep-tech impact fund

EntrackrEntrackr ยท 1m ago
Lavni Ventures announces first close of early stage deep-tech impact fund
Medial

Lavni Ventures announces first close of early stage deep-tech impact fund Lavni Ventures has launched a Rs 200 crore deep-tech impact fund to back Indiaโ€™s most promising science-led startups, bringing global scale to climate, healthcare, energy, and education breakthroughs. With government-backed policies like the National Deep Tech Startup Policy and the Deep Tech Innovation Platform gaining traction, Lavni Fund II aims to ride this wave of momentum by investing in technology-driven solutions that can profitably tackle some of the worldโ€™s toughest problems. Lavniโ€™s portfolio companies, such as Padcare Labs, Monitra Healthcare, and MedPrime Technologies, exemplify the potential of Indiaโ€™s deep-tech ecosystem. Collectively, Fund I startups, till FY25, have contributed to over 3.5 million student learning hours, more than 10,000 healthcare interventions in underserved markets, and 303 metric tons of COโ‚‚ equivalent saved. โ€œThe successful launch of Fund II, with strong repeat participation from Fund I LPs, validates our core thesis: Indian deep-tech founders are uniquely positioned to deliver scalable impact and attractive returns,โ€ said Vasu Guruswamy, co-founder and General Partner at Lavni Ventures. According to Lavni Ventures, Fund II will deploy Rs 2 crore to Rs 8 crore per opportunity at the Seed to Series A stage, and Rs 8 crore to Rs 15 crore for follow-on investments. The fund reviews over 800 deep-tech deals annually and applies a selection process focused on sustainable business models, measurable impact, and exit potential. Lavni Ventures, established in 2020 and led by Vasu Guruswamy, Sanjay Kanvinde, and Krishna Shivram, is a SEBI-registered Category II Alternative Investment Fund. It specializes in deep-tech impact investing, funding early-stage startups across medtech, edtech, cleantech, and agritech sectors.

Fundalogical Ventures launches first edition Of FV Trailblazers

EntrackrEntrackr ยท 8m ago
Fundalogical Ventures launches first edition Of FV Trailblazers
Medial

Fundalogical Ventures launches first edition Of FV Trailblazers Fundalogical Ventures (FV), an investment platform focused on sustainable supply chains, logistics, and peripheral sectors in India, has launched the first edition of FV Trailblazers, an early growth program designed to propel promising companies to industry leadership. The program offers selected companies access to up to $5 million in growth capital, invaluable 1:1 mentorship, strategic guidance, and extensive networking opportunities. FV Trailblazers focuses on a wide array of sectors critical to Indiaโ€™s growth story and the countryโ€™s evolving supply chain and logistics landscape. These include optimizing sourcing/procurement and inventory management, manufacturing innovation, warehousing services, automation and robotics, 3PL/4PL services, e-commerce enablers, and reverse supply chain management. According to Fundalogical Ventures, the fund has a keen focus on sustainability, including the growing importance of green logistics, encompassing the entire EV ecosystem, and promoting a circular economy through efficient waste management practices, including plastic waste, e-waste, and battery waste recycling. FV says that this program is designed to provide not only capital but also the strategic guidance and network access necessary to navigate the complexities that fast-evolving businesses demand. It combines its deep domain expertise with the innovative spirit of these companies and drives significant advancements in Indiaโ€™s supply chain ecosystem. The fund is anchored by industry leaders such as Krishna Kotak, Tushar Jani, Suryakant Parekh, Khalid Vohra, and Mehernosh Currawalla, while the management is led by Ratna Mehta.

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