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News on Medial
Inspired by Silicon Valley, India proposes a dedicated township for startups | Mint
Livemint
·
10m ago
Medial
India's Commerce Minister, Piyush Goyal, has proposed the creation of a dedicated township for startups in order to replicate the success of Silicon Valley. The township would provide startups with resources, mentorship, and financial support while fostering innovation, collaboration, and knowledge-sharing. Under the Startup India programme, the government already operates digital platforms such as the Startup India Investor Connect Portal and the National Mentorship Portal. The newly launched Bharat Startup Knowledge Access Registry (BHASKAR) aims to serve as a centralized platform for various stakeholders in India's startup ecosystem. India has seen a significant increase in venture capital funding for startups.
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We should go beyond B'luru, build our Silicon Valley of India: Piyush Goyal
Inshorts
·
10m ago
Medial
Union Minister Piyush Goyal said India should aspire to go beyond and create its own 'Silicon Valley of India'. Speaking at an event on Tuesday, Goyal added, "I know Bengaluru does take pride in being the Silicon Valley of India, but it is time now to think about creating a whole new township dedicated to entrepreneurs, startups, innovators and disruptors."
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Tribe Capital poaches Shiprocket co-founder for its India fund. Inside their pitch
The Arc Web
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1y ago
Medial
Silicon Valley-based Tribe Capital, led by former executives from Social Capital, is planning to launch an India-focused fund named India Navigator Fund I with a target size of $150 million. The fund will primarily focus on early-stage deals and secondary transactions. The firm aims to have the initial close by the second quarter of 2024. Tribe has made significant investments in Indian startups, including Shiprocket, Khatabook, and BlackBuck. The India Navigator Fund's strategy includes investing in sectors such as consumer internet, fintech, logistics, and marketplaces. If successful, Tribe will join other Silicon Valley firms with dedicated vehicles for India.
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Bengaluru suffering, says Piyush Goyal; comment unwarranted, retorts Patil
Economic Times
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10m ago
Medial
Industries & Infrastructure Minister MB Patil expressed dissatisfaction with Union Commerce & Industries Minister Piyush Goyal's comment about aspiring to have India's own Silicon Valley, suggesting that Bengaluru is already fulfilling that role. Patil argued that Bengaluru has a well-established technology and startup ecosystem. Goyal later clarified his statements, mentioning the challenges faced by Bengaluru due to the state government's lack of logistics support and infrastructure. The ministers engaged in a social media dispute over the topic. Patil emphasized Bengaluru's significance as a hub for India's knowledge ecosystem, while Goyal suggested developing an industrial township in Tumakuru as an alternative.
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SVB’s commercial banking president: ‘Come on back, the water’s fine’
TechCrunch
·
1y ago
Medial
Silicon Valley Bank's collapse in March created a void in the banking world, prompting startups and investors to seek new alternatives. Mercury and Piermont Bank experienced an influx of calls during that time, with Mercury gaining $2 billion and 3,000 customers, while Piermont focused on opening accounts rapidly. The panel discussion at TechCrunch Disrupt Fintech Stage explored filling the gap left by Silicon Valley Bank, emphasizing the importance of culture, improving banking experiences, and the need for adaptable products from banking partners. Safety and stability remain crucial factors in choosing a banking partner.
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Silicon Valley’s Next Mission: Help the U.S. Catch China and Russia in Hypersonic Weapons
Livemint
·
1y ago
Medial
Venture capitalists in Silicon Valley are investing hundreds of millions of dollars into the development of hypersonic weapons technology. The U.S. military has lagged behind China and Russia in the development of hypersonic missiles, leading to increased interest from Silicon Valley in filling this gap. Startups in the sector are pitching their expertise and private capital to lower costs for the Defense Department. Venture capitalists have invested over $500 million into U.S. hypersonic startups in the past two years. However, the commercial tech sector faces challenges in dealing with the complexities of the defense industry.
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Silicon Valley now deeply enmeshed in all things Trump: Indian American venture capitalist
Economic Times
·
7m ago
Medial
Silicon Valley has become intricately involved with the Trump administration, as top minds are being recruited, according to Indian American venture capitalist Asha Jadeja Motwani. President-elect Trump has appointed key Silicon Valley figures like David Sacks and Sriram Krishnan to significant roles. Motwani, an early Trump supporter, is a prominent investor in Indian startups. Her Motwani Jadeja Foundation is highlighting India's startup ecosystem at the 2025 Consumer Electronics Show, featuring ten innovative Indian companies.
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Elon Musk leads Silicon Valley rally behind Donald Trump
Economic Times
·
1y ago
Medial
Tech billionaire Elon Musk has reportedly committed to donating $45 million per month to 'America PAC,' a fund dedicated to supporting Donald Trump's re-election campaign. Alongside other tech figures, Musk is part of a growing right-wing bloc in Silicon Valley who are aligning themselves with conservative causes and opposing President Joe Biden and his policies. These backers share a dislike for what they perceive as "woke ideology" and are motivated by various interests, including cryptocurrency and opposition to increased regulation. The support for Trump from Silicon Valley's right-leaning faction is indicative of a shifting political landscape in the traditionally liberal region.
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Peak XV to take 60 founders to Silicon Valley on AI tour: Report
Inshorts
·
1y ago
Medial
Peak XV Partners (formerly Sequoia Capital India & SEA) will take over 60 founders to Silicon Valley in the US for an AI tour, Moneycontrol reported. The trip, scheduled between February 13-16, will host startups including Arintra, Inferless, Relevance AI, InVideo and Mindgrove Technologies. The founders will reportedly visit the NVIDIA campus as part of the trip.
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SVB Financial to sell Indian arm to First Citizens
VCCircle
·
1y ago
Medial
SVB Financial Group, the bankrupt parent company of Silicon Valley Bank, plans to sell its Indian subsidiary, SVB Global Services India, to First Citizens Bancshares. The sale is subject to approval from a bankruptcy court, with a hearing scheduled for April 9. SVB Financial Group filed for bankruptcy last year after Silicon Valley Bank collapsed, resulting in one of the largest bank failures in U.S. history. First Citizens had previously purchased SVB's assets and deposits for a fraction of their original value.
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RBI Proposes Direct UPI Payments From PPI Wallets
Inc42
·
1y ago
Medial
The Reserve Bank of India (RBI) has proposed allowing the linking of prepaid payment instruments (PPIs) like digital wallets through third-party Unified Payments Interface (UPI) applications. This move aims to provide more flexibility to PPI holders and benefit fintech startups such as Paytm, PhonePe, Freecharge, and MobiKwik. Additionally, the RBI has proposed enabling cash deposit facility through the use of UPI and allowing non-bank payment system operators to offer central bank digital currency (CBDC) wallets. The central bank also announced plans for a dedicated platform for retail investors to participate in government securities market.
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