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US picks 31 regional hubs to spur tech innovation with $500 million corpus
Economic Times
·
1y ago
Medial
The Biden administration has selected 31 regional technology hubs from over 370 applicants to receive federal funding of $500 million aimed at promoting innovation in various sectors. The initiative is part of President Biden's "industrial policy" to attract private sector investments and promote growth in industries such as electric vehicles, semiconductors, and clean energy. The program aims to distribute the benefits of tech sector growth beyond established hubs like Silicon Valley, with a focus on areas such as critical minerals, biotechnology, artificial intelligence, and quantum computing.
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Nasscom to launch US CEO Forum in NY to boost India-US tech, innovation ties - The Economic Times
Economic Times
·
1m ago
Medial
Nasscom is launching the US CEO Forum in New York to enhance India-US tech collaboration. The Forum will involve Indian tech CEOs and US stakeholders in strategic discussions on innovation, enterprise, policy, and talent development. With ongoing engagements planned across US tech hubs, it aims to foster growth, co-innovation, and policy alignment. Positioned as a leadership platform, the Forum seeks to strengthen the India-US tech corridor, promoting digital transformation and economic growth.
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Tamil Nadu To Set Up Two New Regional Startup Hubs In Coimbatore, Tiruchi
Inc42
·
1y ago
Medial
The government of Tamil Nadu has established regional hubs in various cities to support startups, organize events, and promote innovation. Additionally, Global Startup Coordination Centres in Singapore and the US will be set up to assist startups in expanding internationally. Tamil Nadu, known for successful startups like Zoho and Freshworks, has a thriving startup ecosystem with over 7,700 registered startups.
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Databricks picks up MosaicML, an OpenAI competitor, for $1.3B
TechCrunch
·
2y ago
Medial
Investors aren’t the only ones who want to get their hands on hot tech companies in the field of AI: it’s also likely to spur a big wave of M&A, too: today, Databricks announced that it would pay $1.3 billion to acquire MosaicML, an open-source startup with 63 employees.
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DOGE’s federal spends slash unlikely to bleed Indian IT companies
Economic Times
·
5m ago
Medial
The Department of Government Efficiency’s (DOGE) cancellation of federal contracts may affect US-based consulting technology companies but will minimally impact Indian IT firms. Indian IT's exposure to US federal contracts is less than 2% of its revenue, often working with state and local governments instead. While uncertainties exist, DOGE’s tech-focused initiatives might spur opportunities for global tech players, especially those with local US investments. Major consultancies could face significant effects from these changes.
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Bengaluru Named Top 12 Global Tech Hub with AI Workforce Rivaling US Cities; Frinks AI Raises $5.4 Million | DeepNewz India
Business Bytes
·
2m ago
Medial
Bengaluru has been recognized as one of the top 12 global tech hubs, with its AI workforce on par with major US cities like San Francisco and New York. This highlights the city's growing prominence in the technology sector, particularly in artificial intelligence.
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Special seed fund to support startups by differently abled, transpersons: TN MSME minister
YourStory
·
1y ago
Medial
Tamil Nadu's Micro, Small and Medium Enterprises (MSME) Minister has announced a special seed fund for startups run by differently-abled and transgender people in the state. The aim is to promote inclusive growth in the entrepreneurship sector. Plans are also in place to establish new regional startup hubs in Coimbatore and Tiruchi this year, in addition to existing hubs in other cities. The minister also revealed plans to establish global startup coordination centres in Singapore and the US in the future. A design studio called 'Thozhil Nayam' will be established at the StartupTN Chennai Metro Hub to support startups in product design.
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Alpha Alternatives hits first close of maiden infra fund
VCCircle
·
8m ago
Medial
Alpha Alternatives, led by Naresh Kothari, has achieved the initial closing of its inaugural infrastructure fund. The firm aims to raise $500 million as the fund's target corpus, with an option to raise an additional $250 million. Named Alpha Alternatives Build India, the infrastructure investment vehicle is set to support the development of infrastructure projects in the country.
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Tamil Nadu crosses 10,000 DPIIT-registered startup millstone, credits StartupTN mission
YourStory
·
7m ago
Medial
Tamil Nadu has surpassed 10,000 registered startups, marking a significant achievement for the state. StartupTN, an initiative by the government, has played a vital role in nurturing the ecosystem through various schemes, funding opportunities, mentoring, and incubation support. The state's startup ecosystem is flourishing with multiple regional hubs and a metro hub in Chennai that provide a strong infrastructure for aspiring entrepreneurs. This exponential growth can be attributed to the focus on supporting startups and fostering innovation under the leadership of Chief Minister M K Stalin. Tamil Nadu aims to become a prominent startup hub with continued government backing.
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Interim Budget 2024: FM announces INR 1 Lakh Cr corpus to fuel R&D in Sunrise sectors
Inc42
·
1y ago
Medial
India's Finance Minister, Nirmala Sitharaman, has announced the establishment of a corpus worth INR 1 lakh crore to support research and development (R&D) in sunrise sectors. The corpus will provide long-term financing with low or zero interest rates, aiming to promote innovation and growth in India's technology sector. This move is expected to benefit India's tech-savvy youth and contribute to the country's technological advancement. The announcement was made during the interim budget, with a full-budget set to be presented after the general elections later this year.
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Tech startup funding rose 23% in 2024, deeptech saw 78% boost: Nasscom report
Economic Times
·
4m ago
Medial
In 2024, Indian tech startup funding rose by 23% to $7.4 billion, with deeptech startups seeing a 78% boost, raising $1.6 billion. Over 2,000 new tech startups were founded, including many outside tier-1 cities, fostering a national innovation ecosystem. Challenges include understanding deeptech valuations, better collaboration, and regulatory complexities. The report highlights the need for increased R&D investments and a focus on deeptech commercialization, AI advancements, and scaling beyond major hubs.
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