Startup Spotlight: Gujarat Tops State Ranking, Zomato To Go All EV

Welcome to our latest edition of the Startup Spotlight, where we bring you the hottest updates and developments from the dynamic world of startups! From groundbreaking innovations and government schemes to funding and new hirings in the startup space, our news bulletin dives into the heart of the startup ecosystem, keeping you informed and inspired.

National Startups Day: Commerce and Industry Minister Proposes Startup Association

On the occasion of National Startups Day, Commerce and Industry Minister Piyush Goyal met with 54 Indian unicorn founders, including Zomato and Paytm, suggesting the creation of a Startup Association or Startups Club of India. The meeting focused on the growth of the Indian startup ecosystem, expansion of startups, and discussions on the international startup scenario.

Startup India Initiative Celebrates Eighth Year with National Startup Awards

As the Startup India Initiative completes seven years, India celebrated National Startups Day on January 16th, marking its eighth year in the initiative. Currently, the country hosts over a hundred thousand registered startups, showing a remarkable growth rate of 120% over the past seven years. The National Startup Awards, held in Delhi, recognized startups from across the country in various categories like Women-Led Innovation and NextGen Innovators.

Gujarat Tops State Startup Ranking in Best Performers Category

Gujarat secured the first position once again in the Best Performers category of the State Startup Ranking. According to DPIIT, Gujarat, Kerala, Karnataka, and Tamil Nadu are leading in developing the startup ecosystem for emerging entrepreneurs. The rankings consider various categories, distributing states into Best Performers, Aspiring Leaders, and Under 30 Percentile based on their performance.

Zomato Aims for All-Electric Delivery Fleet by 2030

Zomato plans to convert all its food delivery vehicles to electric by 2030, with cities like Delhi, Mumbai, and Bangalore already using electric vehicles (EVs). Zomato's CEO, Deepinder Goyal, announced joining the EV100 global initiative, committing to transitioning the entire fleet to electric by 2030.

BYJU’s Appeals for Arbitration in BCCI's Insolvency Case

BYJU’s has appealed in the National Company Law Tribunal (NCLT) to escalate the insolvency case filed by BCCI to arbitration. The case involves a payment default of INR 158 crore, and BYJU’s, the main sponsor of the Indian cricket team jerseys from 2019 to January 2023, hopes to resolve the matter through discussions.

Google Pay Users Can Now Make UPI Payments Internationally

Google Pay India has entered into an agreement with NPCI International Payments Limited (NIPL) to expand UPI services for users outside India. This agreement enables Indian users abroad to easily make UPI payments without the need for cash or international payment gateways.

PhonePe Achieves Record of 9 Million Insurance Policies Sold Since September 2021

PhonePe reported selling approximately 9 million insurance policies since obtaining its insurance broking license in September 2021. This includes around 4 million policies sold in the last year alone. The company entered the insurance space in 2020 and currently sells life, health, motor, and car insurance.

DMI Group Acquires Troubled Startup ZestMoney

The DMI Group has acquired ZestMoney, a startup facing financial difficulties. The terms of the deal have not been disclosed yet. Through this acquisition, DMI Finance will invest in the Zest platform, gaining exclusive rights to all of ZestMoney's brand usage. The move is expected to enhance customer engagement with existing and potential customers.

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