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Startup MahaRathi Challenge will have Rs 70 crore prize pool: Piyush Goyal
Entrackr
·
4m ago
Medial
The Startup MahaRathi Challenge, part of Startup Mahakumbh 2025 organized by DPIIT, offers a Rs 70 crore prize pool to promote innovation in cybersecurity, AI, robotics, biotech, and more. Registered startups will receive mentorship and can compete for funding and national exposure. Participants benefit from monetary prizes and networking opportunities with industry leaders. The event includes sector-specific mentorship and a live pitching finale in New Delhi for the top 150 startups.
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Govt commits 2nd tranche of Rs 10,000 Cr Fund of Funds for deeptech startups: Piyush Goyal
YourStory
·
1m ago
Medial
Union Minister Piyush Goyal announced a Rs 10,000 crore second tranche under the government's Fund of Funds initiative to accelerate India's deeptech startup sector. Speaking at IIT Madras's Sangam 2025 summit, Goyal highlighted the initiative's focus on promoting innovation, and technology absorption and development. The fund offers flexible support through equity and grants. The summit showcased emerging startups and featured AI leaders, underlining India’s technology and economic growth trajectory.
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Union minister Piyush Goyal highlights Rs 3 lakh crore schemes for research, employment, and startups - The Economic Times
Economic Times
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1m ago
Medial
Union Minister of Commerce and Industry, Piyush Goyal, announced initiatives aimed at boosting research, innovation, employment, and startups in India, following a Rs 3 lakh crore scheme approved by the Union Cabinet. This includes a Rs 1 lakh crore scheme for research and development, and a Rs 2 lakh crore incentive for employment generation. Goyal highlighted Bengaluru's thriving tech ecosystem and praised efforts in the tech and global capability sectors, while addressing national security concerns.
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Mostly Unicorns in India Have done Phenomenally Well, Says Piyush Goyal
OutlookIndia
·
6m ago
Medial
Union Minister Piyush Goyal highlighted the rising success of Indian unicorns in 2024, attributing it to the country's thriving start-up ecosystem. Speaking at a New Delhi event, Goyal assured government support for sustained growth, citing 76 IPO offerings as proof of success. He announced the Bharat Start-Up Grant challenge and PRABHAAV Factbook to bolster start-ups. The event marked nine years of the Startup India initiative, emphasizing entrepreneurship promotion since 2016.
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Piyush Goyal asks startups for ideas to manage tomato supply chain
YourStory
·
1y ago
Medial
Piyush Goyal, the Minister of Commerce and Industry, is seeking ideas from startups to better manage the tomato supply chain in India. This comes after the price of tomatoes soared to Rs 200 per kg in certain months. Goyal emphasized the need for innovative solutions that address both basic and complex issues. The government previously launched a 'Tomato Grand Challenge hackathon' to gather innovative ideas to ensure affordable prices for consumers and fair value for tomato farmers.
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Investments in sectors under PLI schemes expected to hit Rs 2 lakh cr in coming years
YourStory
·
10m ago
Medial
The production linked incentive (PLI) schemes in India's 14 sectors have attracted investments of Rs 1.46 lakh crore, with an expected total capital infusion of Rs 2 lakh crore in the future. The schemes have resulted in production/sales worth Rs 12.50 lakh crore, employment generation of around 9.5 lakh, and exports exceeding Rs 4 lakh crore. Commerce and Industry Minister Piyush Goyal discussed the progress of the schemes with beneficiary companies and emphasized the importance of prioritizing high-quality goods and increasing domestic value addition. CEOs provided suggestions for improving the effectiveness and implementation of the PLI schemes.
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Piyush Goyal Announces Helpline for Startups to Lodge Their Complaints
OutlookIndia
·
4m ago
Medial
Commerce Minister Piyush Goyal announced the launch of a helpline for Indian startups, allowing them to file complaints or make suggestions about legal or operational issues. This initiative, unveiled at the Startup Mahakumbh in New Delhi, will support startups in various languages. Additionally, the government has approved a second round of the Rs 10,000 crore fund to aid small startups in fulfilling their seed funding needs, enabling them to avoid losing significant equity to investors.
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Second fund of funds’ first instalment, Startup India Desk in works: Piyush Goyal
Economic Times
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4m ago
Medial
Commerce and industry minister Piyush Goyal announced that the second fund of funds for startups with a Rs 10,000 crore corpus has been approved, with Rs 2,000 crore to be disbursed this year. A key initiative includes creating a Startup India Desk for support. The fund aims to develop domestic tech solutions and support startups in AI, semiconductors, and deep-tech. The initiative seeks to provide early-stage financial backing for entrepreneurs and boost innovation leadership.
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Piyush Goyal announces national helpline desk for startups
Economic Times
·
4m ago
Medial
Commerce and Industry Minister Piyush Goyal launched a dedicated Startup India Desk, a national helpline aimed at supporting entrepreneurs in addressing regulatory challenges and government-related issues. Announced at Startup Mahakumbh in Delhi, this initiative offers startups a platform to report concerns, suggest policy improvements, and navigate regulations. Concurrently, the government approved the second Fund of Funds for Startups with a Rs 10,000 crore corpus, focusing on early-stage funding, particularly in deep-tech sectors.
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Deepinder Goyal enters billionaire club as his holding in Zomato crosses $1 Bn worth
Entrackr
·
1y ago
Medial
Deepinder Goyal, founder and CEO of Zomato, has entered the billionaire dollar club as the value of his holdings in the foodtech firm surpassed Rs 8,400 crore. With this, Goyal joins the ranks of Sachin and Binny Bansal, Nikhil and Nitin Kamath, Vijay Shekhar Sharma, Byju’s Reveendran, and Ritesh Agarwal who hit a similar high at some point with their startups’ growth and valuation. As of March 31, 2024, Goyal owned a 4.19% stake in Zomato and had 36,94,71,500 shares. Since the Info Edge-backed firm recently hit its all time high share price ~Rs 232, the value of his personal holding crossed $1 billion. Zomato currently has a market capitalization of Rs 2,01,343 crore or $24.25 billion (as of 11.27 AM IST on July 15). With 36,94,71,500 equity shares, Deepinder Goyal’s holdings are valued at Rs 8,423 crore ($1.01 billion), as per Entrackr’s estimate. Food tech major also received shareholder approval to implement a new ESOP plan 2024 valued at $458 million. With the implementation of its new ESOP plan, the company’s total ESOP value surpassed $800 million. After Flipkart, Zomato seems to have the largest ESOP pool at the moment in the startup arena. In 2021, Oyo’s ESOP pool was worth close to $1 billion followed by Paytm, Nykaa and Policybazaar. However, value of Oyo and Paytm’s ESOP pool has nosedived since then in the wake of colossal loss in their valuations. While the holdings of bootstrapped startup’s founders such as Kamath brothers and Sridhar Vembu fortune are estimated to exceed $1 billion, Goyal has turned out to be the new entrant in the billionaire club from the VC-backed ecosystem. The good times for Zomato have continued on the stock exchange despite the company increasing its platform fees to Rs 6 in Delhi and Bengaluru. The company introduced a platform fee of Rs 2 in August last year, which was increased to Rs 5 in April, and now stands at Rs 6 per order as the firm looks to improve margin. Swiggy also spiked its platform fee to Rs 6 in the two cities. Zomato showed a robust growth in the last fiscal year (FY24) as its revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23.
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Not literal, directional: Goenka on Murthy's 70-hr workweek, Goyal's startup remarks
Inshorts
·
4m ago
Medial
Billionaire Harsh Goenka posted on X, "When Murthy and Subrahmanyan spoke of 70-90 hour work weeks and Piyush Goyal questioned startups making vegan ice creams...they weren't being literal—they were directional." He added, "If India wants to compete with US or China, we can't just focus on comfort, convenience & brands." Goenka's remarks came after Union Minister Goyal criticised Indian startups.
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