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Centre Greenlights INR 50 Lakh Grants Each For 7 Startups In Technical Textiles To Boost Innovation
Inc42
ยท
1y ago
Medial
The Centre has approved grants of INR 50 Lakh each for seven startups in the technical textiles sector under the National Technical Textiles Mission. The initiative aims to support innovation and sustainability. Eight startup proposals have been approved so far, focusing on areas such as sustainability, composites, high-performance textiles, meditech, and smart textiles. These grants are expected to drive advancements in these sectors.
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Govt Greenlights INR 50 Lakh Grants Each For 4 Textile Startups
Inc42
ยท
11m ago
Medial
The GREAT scheme, part of India's National Technical Textiles Mission, plans to support startups working on projects related to composites, sustainable textiles, and smart textiles. The initiative aims to promote entrepreneurship and innovation in the field of technical textiles. It is projected that the Indian technical textile industry will reach a market size of $309 billion by 2047.
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Delhivery Expands ESOP Pool With Additional Stock Options
Inc42
ยท
11m ago
Medial
Delhivery has issued 63,538 stock options to eligible employees, with each share priced at INR 1. The options will vest gradually over a period of 4 years, with 10% vesting after 1 year, 30% after 2 years, and the rest in 15% increments every 6 months. This is in addition to the previous grants of 1.66 Lakh options in August and 6.49 Lakh options in July 2024.
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PLI schemes attract Rs 1.76 lakh cr investment, create 12 lakh jobs: Govt
Economic Times
ยท
1m ago
Medial
India's production-linked incentive (PLI) schemes have attracted Rs 1.76 lakh crore in investments and generated over Rs 16.5 lakh crore in output, creating 12 lakh jobs by March 2025. The government has disbursed Rs 21,534 crore across 14 sectors, including electronics, pharma, and textiles. The PLI program aims to boost domestic manufacturing, reduce imports, and enhance exports. Significant growth has been seen in sectors like pharmaceuticals, food processing, and textiles, benefiting MSMEs and rural areas.
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IndusDC Sets Aside INR 100 Cr For Startups Across Industrial And Energy Sectors
Inc42
ยท
1y ago
Medial
IndusDC, an Indian investment and innovation platform, has allocated INR 100 crore for identifying and co-building tech startups in the industrial and energy sectors for FY25 and FY26. Each startup supported by IndusDC will receive INR 20 crore in capital through grants, equity, and debt. The platform boasts entrepreneurs and angel investors such as Ashish Gupta from Helion Venture Partners and former CEO of Knoah Solutions, Sri Myneni.
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Govt To Introduce A โSingleโ Platform For Startups, VCs To Ensure Better Collaboration: Priyank Kharge
Inc42
ยท
1y ago
Medial
The Indian state of Karnataka, particularly Bengaluru, remains the country's top startup hub despite a decline in funding. The state government has disbursed over INR 50 crore ($7 million) as grants and supported 208 startups in the past six months. Beyond funding, Karnataka provides support to startups through initiatives like the Global Innovation Alliance-Market Access Programme (GIA-MAP) and a public procurement policy for sourcing from startups. The government is working on strengthening the AI ecosystem in Bengaluru and attracting investments outside the state capital through its Beyond Bengaluru program. Additionally, outdated policies and excessive taxation on startups are among the challenges that need to be addressed.
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Can Angirusโ Eco Bricks Replace Traditional Building Materials In India?
Inc42
ยท
10m ago
Medial
Indian startup Angirus is working towards making the construction sector more sustainable through its eco-friendly bricks made from non-recyclable waste materials, including plastics. The company has received INR 80 lakh in grants and awards from various organizations and has raised INR 36 lakh in equity from angel investors. The bricks are stronger, more durable, and provide better thermal insulation compared to traditional bricks. The startup is seeking INR 1.5 crore in equity and grants to support its expansion plans, including building a new facility in Bengaluru. India's fight against air pollution is crucial, with the country having some of the most polluted cities in the world.
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Karnataka Unveils Two Flagship Programmes To Boost Early Stage Startups
Inc42
ยท
9m ago
Medial
ELEVATE 2024 is a grant aid program that offers up to INR 50 lakh per startup, supporting innovation and entrepreneurship. The Karnataka Acceleration Network (KAN) is a growth-stage focused accelerator program that helps bridge the gap between mentors and mentees. Both initiatives align with the state's goal of promoting innovation and entrepreneurial development.
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Cabinet greenlights Tata Group's chip fab unit in Gujarat; first semicon plant in northeast approved
Economic Times
ยท
1y ago
Medial
The Indian government has approved the construction of three semiconductor chip fabrication units in Gujarat and Assam, with an estimated investment of INR 1.26 lakh crore (approximately $17 billion). Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC) in Gujarat, attracting an investment of INR 91,000 crore. Tata Semiconductor Assembly and Test will establish a unit in Assam with an investment of INR 27,000 crore. Additionally, CG Power will collaborate with Renesas Electronics and Stars Microelectronics to set up a semiconductor unit in Gujarat with an investment of INR 7,600 crore.
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Elevation Again Dumps ixigo Shares In INR 97 Cr Block Deal
Inc42
ยท
1m ago
Medial
Elevation Capital, previously SAIF Partners India, sold over 53.98 lakh shares of online travel aggregator ixigo in a block deal valued at INR 97.44 crore. The shares were sold via Saif Partners India IV Limited at INR 180.50 each, slightly below ixigoโs last closing price of INR 180.65 on the BSE. Schroder International Selection Fund purchased 53.69 lakh of these shares for INR 96.9 crore. Last month, Elevation Capital sold 21.5 lakh ixigo shares for INR 38.27 crore.
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BlackBuck Raises INR 501 Cr From Anchor Investors
Inc42
ยท
8m ago
Medial
The logistics company, BlackBuck, raised INR 501.33 Cr from anchor investors in a recent round. The investors subscribed to 1.83 Cr equity shares at a price of INR 273 each. Among the anchor investors, Nomura invested the highest amount of INR 67.87 Cr, acquiring 24.86 Lakh equity shares of BlackBuck. Three domestic mutual funds were also allocated 61.39 Lakh shares for INR 167.60 Cr.
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