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SEBI Allows Startups To Test Fintech Innovations On Live Market Investors – Inc42 Media

sebi allows startups to test fintech innovations on live market investors – inc42 media

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Securities and Exchange Board of India (SEBI), on Friday (June 5), rolled out a circular to pave way for financial innovations in stock exchanges through regulatory sandboxes.In the notification, the markets regulator laid the norms for fintech startups on how they can test, without hassles of registering in a controlled environment, on actual customers for promoting innovations.SEBI believes that encouraging adoption and usage of technologies can act as an instrument to develop and maintain an efficient, fair and transparent securities market ecosystem.For this, SEBI is looking to grant certain facilities and flexibilities to fintech platforms to test technologies in a live environment on a limited set of real customers for a limited time frame. “These features will be fortified with necessary safeguards for investor protection and risk mitigation,” SEBI said.The framework of the sandbox is based on a discussion paper issued by SEBI on May 29, 2019. Under this, SEBI laid out certain criteria for shortlisting the companies. At that time, however, SEBI only allowed startups to test their solutions in an offline environment.For instance, SEBI allowed all entities registered with SEBI under Section 12 of the SEBI Act 1992, shall be eligible for testing within the regulatory sandbox. An …

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Fast-growing Madison Reed is eyeing men’s hair next; “We’re going to blow the doors off that market”

fast-growing madison reed is eyeing men’s hair next; “we’re going to blow the doors off that market”

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Amy Errett’s company, Madison Reed, sells in-home ammonia-free care color. It may not sound like a glamorous business but, as it turns out, it’s a very durable one, done the right way. Not only has the seven-year-old outfit been slowing chipping away at the dominant personal care giants like L’Oreal that have long controlled what’s currently a $30 billion market, but during one of the most dramatic economic downturns of the past century, it has been attracting new customers.
In fact, Errett — who was previously a VC with Maveron Ventures and has a side hustle as a venture partner with True Ventures — says the 300-person company is seeing revenue in excess of $100 million per year and that it will be profitable in the second half of this year. Presumably, that makes it a likely candidate for an IPO in the not-too-distant future.
We talked with Errett earlier this week about the business, which has raised $125 million to date from investors, including True Ventures, Norwest Venture Partners, and Comcast Ventures. We wanted know if, like so many other consumer companies hard hit by the pandemic, it has conducted recent layoffs, whether it is re-opening the “color bars” it …

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The horrifying truth about being a Black woman founder in Canada | BetaKit

the horrifying truth about being a black woman founder in canada | betakit

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Of the thousands of Canadian venture deals produced from 2014 to 2019, so few Black women founders raised money that these figures are very close to nothing.
Venture capital-backed funding has doubled since 2014, going from $2 billion to $3.3 billion, 2017 showed us that 40 percent of all venture capital went to just 10 companies. Twenty-nineteen was a record-breaking year for the VC space with an astounding $6.2 billion CAD invested over 539 deals, a 69 percent increase than the $3.7 billion CAD invested in 2018 and more than 3 times the market analysis in 2013. Quarter 4 in 2019 saw the highest amount of venture-backed deals, with 144 total deals and over $1.6 billion invested.
In the tech realms, investors do not back Black women-led startups.
Compared to our south of the border counterparts figures, which are still very low, in 2018, 11 African American women raised $1 million in venture capital funding, which works out to about 0.2 percent of all venture funding in 2018.
Of those few that have raised money, the average amount of funding is $36,000. That’s compared to the average startup, usually founded by a white male, that typically fails, which raises millions on average in venture funding. While Canada ranks third globally (second to the US and China) as far as the amount of VC capital …

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Detroit tech startups offer free, reduced-cost services to small businesses

detroit tech startups offer free, reduced-cost services to small businesses

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Detroit — Tech startups are expanding their outreach during the COVID-19 pandemic by offering free or reduced-cost services to entrepreneurs and small companies pressed to do more things online.Internet marketing company Waymark is giving away customizable website video templates. Autobooks is waiving fees through the end of the year on its recently created payment and accounting platform. And Sift is offering its employee directory software free for six months.Through partnerships with Spectrum Reach and FordDirect, Detroit-based Waymark has given away $950,000 worth of the video templates for businesses. The offer includes a one-month free subscription and two free videos.“It’s needed so much because people are adjusting, changing their business practices on the fly,” said Nathan Labenz, the CEO of Waymark. “They’re moving to new ways of doing things… All these changes are just challenges not only for people to operationalize, but they also have to communicate that to their customers.” A woman types on a keyboard in New York. (Photo: Jenny Kane, AP)The videos will help businesses communicate changes to their customers, such as a restaurant offering takeout only. Even with no experience, he added, a person can customize a good-looking video.“Typically, our content is …

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60 San Diego startups named Cool Companies, twice as many as last year

60 san diego startups named cool companies, twice as many as last year

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Innovega has developed patented contact lenses that, when combined with specialized face glasses, bring digital augmented reality to a user’s field of view without a bulky headset.Vivid Genomics uses machine learning and genetic based profiling to produce tests aimed at improving drug development for Alzheimer’s disease.Educational Vision Technologies has developed an automated video platform that enables colleges to deliver virtual lectures — complete with searchable notes and slides — to students taking classes online without extra work for professors.These three San Diego start-ups are among the 60 firms selected at as this year’s Cool Companies by Connect/San Diego Venture Group.
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“The breadth and depth of the companies applying is what really excites us,” said Mike Krenn, chief executive of Connect. “And the companies were just so darn good, we chose twice as many as last year.”Cool Companies is designed to spotlight promising San Diego technology and life sciences startups that are ready to move beyond seed funding and into raising their first round of venture capital funding. More than 200 companies apply each year.Connect/San Diego Venture Group, which merged last year, typically hosts a live event where Cool Companies can show off to …

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Today In Payments: PayFort To Boost Startups | PYMNTS.com

today in payments: payfort to boost startups | pymnts.com

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In today’s top news, Amazon is looking at buying a stake in India’s Bharti Airtel, and the Trump administration expects the next round of stimulus funding to hit $1 trillion. Plus, Grab expands its shopping and delivery app to eight countries in Southeast Asia.Amazon Eyes Deal For $2B Stake In Indian Telecom Bharti AirtelAmazon may become the latest American tech giant to buy its way into India’s fast-growing telecom market as it eyes a deal to take a $2 billion stake in Bharti Airtel, India’s third-largest telecom operator. The potential move could reshuffle India’s mobile market by infusing cash into the up-and-coming telecom as it challenges the market’s dominant player, Jio, which has recently received major investments by U.S.-based tech companies.Next Economic Stimulus Package Could Hit $1TThe Trump administration anticipates a $1 trillion figure could be in the cards for the next round of stimulus funding, with an eye toward possibly including back-to-work incentives, liability protections and more. Talks on the matter that had been scheduled for this week have been delayed, however, and McConnell said no action on additional stimulus measures will be taken before the two-week recess that begins July 3.Grab …

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Wine Down and Chill: it’s Time to Be Lovely | Grit Daily News

wine down and chill: it’s time to be lovely | grit daily news

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The world is still struggling and
all of us behind wine down and chill are still trying to help you through it by
doing our part. It’s time for us all to be lovely towards each other. We know
that you want to learn about different wines so that you can get down to
drinking it! Got it.
We’ll continue to offer affordable
suggestions for music, wine, dinner and movies with a different wine down and
chill theme each week. You can also follow me on Instagram for wine art
and photography @WineDownAndChill. We’re here to help you sit back, wine
down and chill. If you missed an article, fret not! You can find every article here.
Like a Boss podcast on Apple, Spotify and more
If
you like podcasts, well,
wouldn’t you know, I’ve got one of those, too! Join me for Women-in-Tech “Like
a BOSS” every week for snappy insights in a quick power-up 10-minute format;
find it on Apple, iHeart Radio, Spotify and more.
Theme:
be lovely
Here
at wine down and chill we get it that you’ve been in lockdown for months and
that the uncertainty of what lies ahead …

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France Aims To Rescue Startups From Takeovers | PYMNTS.com

france aims to rescue startups from takeovers | pymnts.com

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Looking for a way to protect technology companies from becoming prey to foreign buyers, France has created a fund to bail out startups.Bloomberg News reported that the French Ministry for the Economy and Finance allocated 150 million euro ($170 million) through its government-backed lender, Bpifrance Financement SA, to invest in French companies if they are targeted by an unsolicited foreign investor.In a statement on Friday (June 5), the government said it may increase the fund to 500 million euros ($567 million) next year. Its mission will be to protect the country’s businesses by taking minority stakes in strategic companies, the news service reported.The infusion of cash is part of the nation’s stimulus package for the technology industry as France tries to keep investors at bay.In April, the French government passed a 300-euro ($339 billion) stimulus package that guarantees up to 90 percent of eligible loans to companies registered in France. The loans, a collaboration between the Finance Ministry, Bpifrance and the French Banking Federation, provide a 12-month payment deferral and an option for the borrower to repay the loan over five years, Proskauer reported.In addition, France is adding a 100 million-euro ($113 million) program for companies that are still in the research …

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How COVID-19 Will Accelerate Silicon Valley Exodus

how covid-19 will accelerate silicon valley exodus

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When Verious Smith graduated college, he was like many young entry-level software engineers—he planned to get a job in technology and climb the ladder, eventually reaching the Promised Land, Silicon Valley. That was in 2010, and the number of jobs for tech workers in that region was unparalleled in the world. So it was reasonable to assume he’d end up there eventually. Smith got a job for a smallish local company in Houston as one of the organization’s only two web developers. This job didn’t last long. The company hit a financial bump, and soon Verious was out of work. So he took up freelancing. One of his earliest clients was another local company that needed work done to their website. They offered him a $1,700 contract, and Verious took it. “That was the most I’d ever made at that time,” he said, after comparing the hours he spent working on the project against what he was paid. A light bulb lit up. He just made a Silicon Valley job’s wage working on his couch, enjoying the lower cost of living in Texas. This was the first time he’d questioned what many entry-level tech workers just assume; that the ideal path …

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We Gave Emergency Grants To Students Affected By COVID-19. And, Here’s What We Learned.

we gave emergency grants to students affected by covid-19. and, here’s what we learned.

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High angle view of video conference with teacher on laptop at home. College student learning maths … [+] while watching online webinar, listening audio course. Top view of girl in video call with personal tutor on computer, distance and e-learning education concept.

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When colleges and universities announced indefinite shutdowns and students were abruptly ushered out of their dorms, AnitaB.org and the Last Mile Education Fund collaborated to launch a Covid-19 Emergency Fund for undergraduate women in computing.
The initial investment was exhausted in just six days. Students who were already walking a tightrope to afford college had rapidly fallen into crisis level financial insecurity.
To date, this fund has supported more than 250 young women in computing with emergency grants up to $599. Throughout this process, our teams saw firsthand the critical role financial security places in achieving a college education.
Device access is an issue – even for tech majors. One of the biggest surprises was the number of applicants asking for funds to repair, rent, or purchase a laptop. Students reported not being able to access online classes or participate in coursework due to campus computer labs being closed. 

How can a student compete as a technology major without access …

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