Startup Spotlight: India-US Startup Boost, New Govt Funding Scheme

TICE News | Startup News Of The Week |

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.

Paytm Collaborates with Amadeus to Elevate Travel Tech Space

To enhance users' travel experiences, Paytm has entered into a partnership with global travel technology company Amadeus. The collaboration aims to establish a consistent travel shopping ecosystem for Paytm users and provide access to a vast inventory of global flight options.

Piyush Goyal Engages with CEOs and VCs During US Visit

Union Minister Piyush Goyal, during his US visit, met with prominent CEOs and VCs, including Micron and YouTube CEOs Sanjay Mehrotra and Neil Mohan. The meetings in Silicon Valley with various VCs are expected to open new opportunities for the Indian startup world.

India and US Sign 'Innovation Handshake' Agreement to Boost Startup Ecosystem

Piyush Goyal, in the course of his US visit, signed a new agreement, termed the 'Innovation Handshake,' with US Secretary of Commerce Gina Raimondo. The agreement focuses on sharing information and best practices for startup fundraising, innovation, and job growth between the two countries.

Indian Government Launches New Funding Scheme for Mining Startups and MSMEs

The Ministry of Mines announces a new funding scheme for startups and MSMEs in the mining, mineral processing, metallurgy, and recycling sector. The funding aims to bridge the gap between technological development and the commercialization of technology in these sectors.

Indian Government Considers Tax Reduction on Imported Electric Vehicles for 5 Years

The Indian government is contemplating a tax reduction on fully assembled electric vehicles (EVs) imported into the country for up to five years. This initiative is part of broader efforts to encourage global car makers to import EVs at lower tax rates, with a focus on expediting approvals for Tesla's potential entry into the Indian market.

ShareChat Founders Secure $3 Million Funding for New Tech Startup

Co-founders Farid Ahsan and Bhanu Singh of ShareChat raise $3 million in funding for their new tech startup, General Autonomy. The startup, founded after their exit from ShareChat in January 2023, aims to make mass manufacturing agile and distributed, akin to software development.

Global Crypto Startup Funding Sees Significant Decline

A recent report from Pitchbook reveals a substantial decline in global crypto startup funding. In the third quarter, overall crypto venture funding decreased by 63% to $2 billion compared to the same period last year. Corporate VC businesses displayed an even more rapid reduction in funding, signaling a broader pullback from investing in crypto companies.

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