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Ernst & Young, PricewaterhouseCoopers, KPMG qualify tech round for startups

ernst & young, pricewaterhousecoopers, kpmg qualify tech round for startups

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NEW DELHI: Three consultancy agencies – Ernst & Young, PricewaterhouseCoopers, and KPMG Advisory, have qualified the technical evaluation round to chalk out an action plan for the government to attract investment in startups.
In March, the Department for Promotion of Industry and Internal Trade (DPIIT) had invited a request for proposal (RFP) for the appointment of a consulting agency for Startup India, following which four consultancy firms bid. The consultant would define a “futuristic vision” for timebound targets to improve India’s global standing and develop “measurable indicators”, like investment in startups, number of startups and employment generation.
“Grant Thornton India LLP failed to obtain minimum marks for technical qualification and hence disqualified for opening of its financial bid,” DPIIT said in a statement.
The department said it will open the financial bids for all the qualified applicants on July 6.
The consultant will be the single node of access to line ministries for startups to pitch their ideas and as they trial-run disruptive technologies and implement pilots.
Since the launch of the Startup India initiative on January 16, 2016, DPIIT has recognised 28,979 startups as of March 1, 2020.
Of these, 27,137 startups employ around 337,000 people. India ranks 136 on ‘starting a business’ in the World Bank’s …

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Israel’s arrangements bill encourages investment in startups and quantum technology

israel’s arrangements bill encourages investment in startups and quantum technology

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The chapter dedicated to the tech sector in the draft of Israel’s annual economic arrangements law, a catch-all government-backed bill that includes various items of disconnected legislation and policy proposals, rests on already existing policies and attempts to revive previously debated actions, alongside lessons learned from the coronavirus (Covid-19) crisis, namely tax cuts for those who invest in the tech sector.

 
If in previous years the Israeli tech industry’s main challenge was a shortage of labor, the Covid-19 crisis pushed it aside. There are increasing signs that tech companies, like traditional industries before them, are on the verge of a significant wave of layoffs that will see experienced workers enter the market and perhaps even flooding it. The arrangements bill includes a clause related to increasing the supply of skilled labor, but it mostly deals with budgeting universities in the relevant fields to the tune of NIS 273 million (approximately $80 million) and doesn’t address providing rapid solutions to acute shortages by activating various training programs.
 
The Israeli tech industry is hoping to receive a boost from the government. Photo: Elad Gershgoren
The draft law mostly addresses what it defines as ‘removing obstacles’ in the tech sector, highlighting three …

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Frontiers of diagnostics: Booster dose for medtech startups

frontiers of diagnostics: booster dose for medtech startups

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Edison is an advanced intelligence offering used by GE Healthcare’s internal developers and strategic partners to develop new healthcare applications, services.In August last year, GE Healthcare announced its Edison X programme to collaborate with startups in India. In less than a year, the first cohort of startups has graduated amid the Covid-19 crisis with some capabilities that may help in medical imaging. The startups, namely, 5C Network, DeepTek, Orbo, Predible and Synapsica, were selected from over 230 applicants and also get a zero equity grant of $10,000 each.Related NewsEdison is an advanced intelligence offering used by GE Healthcare’s internal developers and strategic partners to develop new healthcare applications, services, and AI algorithms. It comprises applications, smart devices, and the Edison platform. “These startups went through multiple rounds of screening and discussions with internal and external mentors in order to evaluate the fit with the programme’s aims and alignment with GE Healthcare’s long-term digital strategy,” says Nalinikanth Gollagunta, managing director, Wipro GE Healthcare, South Asia.In the cohort, there are three startups working in the field of radiology. DeepTek has been working on integrating its tele-radiology and TB solutions (chest X-Ray analysis) with the Edison platform. Synapsica …

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The Top 25 Enterprise Software Startups To Watch In 2020

the top 25 enterprise software startups to watch in 2020

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istock

Despite a down year for enterprise software spending, revenue from cloud-based enterprise apps will grow 6.8% this year according to Gartner.
There are 15,761 startups who either compete in or rely on enterprise software technologies and solutions as a core part of their business models today 1,949 of which have received pre-seed or seed funding.
Crunchbase includes 3,196 companies in their Enterprise Software Startups Hub, who together have seen $58B in investment since the inception of the Startups Hub. 
Most active investors in enterprise software startups include Y Combinator, Techstars, Accel, 500 Startups, Battery Ventures and Andreessen Horowitz.

2020 is the crucible every enterprise software vendor needs to prove how resilient their apps & platforms are, showing prospects why moving workloads and apps to the cloud need to happen now. Global enterprise application software spending will reach $196B in 2020, a 4.7% drop from 2019 according to Gartner. Despite Covid-19 driving an economic downturn, software spending on cloud-based enterprise apps will increase by 6.8%. In comparison, spending on on-premises software will decline by 15.2% in 2020 based on Gartner’s latest forecast analysis.
Factoring in how quickly and permanently millions of workers had to become productive working from home, Gartner also increased its forecast of the percentage of new cloud-based enterprise software purchases …

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The Station: The startups edition

the station: the startups edition

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The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox.
Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch.
For all the U.S. readers here, I hope you are enjoying the holiday weekend.
I am mixing up the format this week because I am in charge here, it’s a holiday and I don’t want this newsletter to get too formulaic. So today, the newsletter will highlight a few mobility startups as well as some of their ideas that don’t typically get a lot of attention.
Image Credits: RVshare
For those who plan to road trip this summer — or perhaps you already have — I would love to hear what it’s like out there. Figures from peer-to-peer RV rental marketplace RVshare suggest it’s crowded.
Folks over at RVshare, a peer-to-peer RV rental marketplace, told me that rental bookings are three times higher than last summer and report a 1,600% increase since early …

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Covid-spooked startup funding may not fully recover this year; majority investors not looking for deals

covid-spooked startup funding may not fully recover this year; majority investors not looking for deals

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70 per cent startup respondents claimed negative impact on business due to Covid.Covid’s impact on startup funding is unlikely to wither away anytime soon. The investments into startups will continue to be impacted over the next six months, according to 92 per cent investors surveyed by FICCI and Indian Angel Network. Out of 27 investors who were part of the survey that included 250 startups and 34 incubators, 56 per cent claimed moderate impact while 40 per cent said there would be a severe impact on startup funding due to Covid. Consequently, 59 per cent of investors going forward would prefer working with startups in their current portfolio until the situation improves instead of working on new deals.As Covid has led to increased adoption of digital services such as online education among students and healthcare, investors’ preference has also been realigned with the shift in opportunities. For instance, from fintech, health, AI & deep tech, edtech and agri as top-five priority sectors before lockdown have been changed to health, edtech, AI & deep tech, fintech and agri.Related NewsMoreover, the response from investors to pitches made by startups before lockdown hasn’t been encouraging as only 8 per cent startups have been able to sign the agreement and …

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PM Modi roots for startups to promote innovation in agriculture; suggests hackathons to solve problems

pm modi roots for startups to promote innovation in agriculture; suggests hackathons to solve problems

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PM Modi had also launched the Atmanirbhar Bharat Innovation Challenge for developing apps.To boost innovation and use of technology in agriculture and allied sectors, Prime Minister Narendra Modi on Saturday stressed on the need to promote startups and agri entrepreneurs. Reviewing the progress of the Indian Council of Agricultural Research (ICAR), Modi underscored leveraging information technology to provide information-on-demand to farmers. Moreover, in order to “solve identified problems and design needs for tools and equipment that can reduce drudgery”, Modi asked ICAR to organize biannual hackathons, according to a statement by Prime Minister’s Office (PMO). The prime minister also said that ease of access for farmers to farm equipment and transport facility from field to markets has to be ensured. The Department of Agriculture, Cooperatives and Farmers Welfare had launched an app called Kisanrath in April this year for facilitating transportation of agri produce by connecting farmers and traders with transporters.Modi also stressed on the need to adopt organic and natural farming practices through a cluster-based approach. For this, the council has already set-up geo-referenced Organic Carbon Map of India and identified 88 biocontrol agents and 22 biopesticides to promote organic agriculture. “Climate change stress like heat waves, droughts, …

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Sault Ste. Marie SmartZone supports tech startups, broader community

sault ste. marie smartzone supports tech startups, broader community

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The Sault Ste. Marie SmartZone, one of 21 in the state run in cooperation with the Michigan Economic Development Corp., was created in 2013 when the Sault Ste. Marie Economic Development Corp. arranged funding for a new building on the southwest side of the city.Half of the total $3.5 million cost of construction came from a federal grant, the other half from a bond issue by the city. The EDC runs the SmartZone and shares the building with it.Michigan’s SmartZone program was created by the state legislature in 2000 to create technology-business incubators across the state.The Sault SmartZone offers temporary office and manufacturing spaces to tech startups and early-stage companies at below-market rates. The building also offers facilities to others in the community. Its conference room can be rented for workshops, meetings and seminars and is offered free of charge to area nonprofits.The EDC also offers coworking space to freelancers, telecommuters and entrepreneurs in need of temporary drop-in office space where they can work and meet with clients without the need for a lease and with flexible payment options.The SmartZone currently has seven tenants, with one office space available. Tenants pay in advance for six months at a time.” …

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E-commerce policy draft tightens rules for Amazon, Facebook, but, friendly to local startups

e-commerce policy draft tightens rules for amazon, facebook, but, friendly to local startups

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The proposed rules would also mandate government access to online companies’ source codes and algorithms, which the ministry says would help ensure against “digitally induced biases” by competitors.India’s latest e-commerce policy draft includes steps that could help local startups and impose government oversight on how companies handle data. The government has been working on the policy for at least two years amid calls to reduce the dominance of global tech giants like Amazon.com Inc., Alphabet Inc.’s Google and Facebook Inc. Under rules laid out in a 15-page draft seen by Bloomberg, the government would appoint an e-commerce regulator to ensure the industry is competitive with broad access to information resources. The policy draft was prepared by the Ministry of Commerce’s Department for Promotion of Industry & Internal Trade.The proposed rules would also mandate government access to online companies’ source codes and algorithms, which the ministry says would help ensure against “digitally induced biases” by competitors. The draft also talks of ascertaining whether e-commerce businesses have “explainable AI,” referring to the use of artificial intelligence.Related NewsIndia’s roaring digital economy, with half a billion users and growing, is witnessing pitched battles in everything from online …

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