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The Dollar Business Bureau  Suresh Prabhu, who assumed the charge as Commerce and Industries Minister this week, assured the Government’s support to start-ups and help in eliminating hurdles for promoting the sector in India. In a video message via Twitter to the promising entrepreneurs on Wednesday, the minister assured that the Government has set up a Rs.10,000 crore corpus and has taken a decision to provide guarantees to the amount of Rs.2,000 crore. The Government is in the course of creating a credit guarantee fund of Rs.2,000 crore with the purpose of giving funds to start-ups. “We are committed to promoting start-ups in India. We are committed to removing obstacles, and help you move forward. You will get tailwinds. Earlier you were getting headwinds,” ...

The Dollar Business Bureau The start-up hub Nexus, an American Government-funded platform to enable and encourage start-ups in India, has chosen New Delhi to host its activities as the country’s capital has ‘all the right components’ required for such type of initiatives, said Erik Azulay, Director, Nexus. “Delhi has all the right components, you have the entrepreneurs, the funders, the government, the capital and other complementary factors. We saw an ecosystem here which was needed for starting this initiative,” Azulay told PTI. Azulay, who moved to New Delhi from Austin (Texas) to establish and run the centre, said that New Delhi is the pilot and now the vision is to enhance the presence to other parts of the country and South Asia. “We did look at ...

The Dollar Business Bureau Canadian Prime Minister Justin Trudeau, on February 13, 2017, for the first time, visited Washington to meet the newly elected President of USA, Donald Trump. During a press conference post their meet at the White House, the two leaders affirmed their intent to continue the historically close alliance and strengthen trade as well as border security in the North American continent. Evading much deliberation on huge underlying ideological differences concerning immigration, intake of refugees and cross-border trade, both the leaders chose to focus on the special bond that Canada and US have shared for long years in defence, counter-terrorism and trade. "Thirty five US states, list Canada as their largest export market and our economies benefit from over $2 billion in two-way ...

Sneha Gilada  Hyderabad witnessed the inaugural of the seventeenth edition of Indiasoft on February 13, 2017. IndiaSoft is an initiative of the Electronics and Computer Software Export Promotion Council (ESC), meant to connect the Indian IT industry to global buyers and potential clients.  The two-day event has an overwhelming global participation of over 400 delegates from 75 countries, making it an irresistible scouting ground for the thriving Indian mid-scale IT companies. The exhibit showcased innovative solutions in the field of big data, outsourcing, cloud computing, SAAS, e-governance, mobile app and website development. As many as 50 IT startups from all over the country exhibited their core competencies at the event, which was supported and funded by the Government of India. At the inaugural ceremony, Chief Guest Y.S. Chowdary, Union Minister of  Science & Technology and ...

The Dollar Business Bureau Luxury car maker Lamborghini expects a double digit growth this year in the sales of its exclusive super sports cars in India, citing stable import policy has supported in its sales growth. The Italian brand has two product launches lined up in India in 2017, including the new Avendator. Earlier this month, the company has launched the convertible Huracan Spyder with rear-wheel drive, which is priced at Rs.3.45 crore. The Italian sports car manufacturer is preparing to cash in on the rise of a new breed of consumers in India - the first generation entrepreneurs, specifically from tier II and III cities and also the women buyers. “In 2017, I expect that the segment should carry on with its double ...

The Dollar Business Bureau Infosys has invested $62 million in start-ups related to automation, IoT and drones. To encourage entrepreneurs who provide innovative solutions in areas related to the core business of Infosys, it started an innovation fund in 2015. The size of the fund is $500 million, which is meant to support upcoming ventures in the IT arena. “The startup world is incredibly exciting. We have been investing in companies there. We have been bringing these companies to our clients, and that rate at which we bring these companies to clients is just exploding,” Infosys CEO Vishal Sikka said. The Infosys Innovation Fund supports numerous startups like Stellaris Venture Partners, UNSILO, TidalScale, Cloudyn, Trifacta, Waterline Data, WHOOP, Cloud Endure, ANSR Consulting, Airviz Speck, Vertex Ventures and Nova. Consulting, video making, cloud storage, sports team ...

The Dollar Business Bureau The Indo-US cooperation is in a new phase, with US agency USAID announcing 5 new partnerships that would enhance the cooperation that US intends to help India in the field of renewable energy (RE). These 5 new partnerships are in the fields of climate change, clean energy, and environment. The transition is aimed to usher in a low-emission and energy-secure India. Of the 5 new partnerships announced by USAID, 4 are with governmental agencies. This was revealed to the media by USAID Assistant Administrator Jonathan Stivers, who said, "USAID welcomes and appreciates this historic opportunity to play a useful role in Indias path forward." Johnathan was in India representing his agency at the second US-India Strategic and Commercial Dialogue. Detailing ...

Sharath Chowdary India stands second in the global taxi service market. This was revealed by Uber Asia Head of Business, Eric Alexander, when speaking to the media at an event organised in Hyderabad on Thursday. “The country ranks second, next only to China, in the international cab service market. Compared to other countries, we see faster growth in India. That is why we are investing heavily in this country,” he said speaking to The Dollar Business Bureau. Last year, Uber had committed to invest $1 billion for expansion in India. This year in February, it opened a Centre of Excellence (CoE) in Hyderabad as a part of its commitment to invest $50 million in Telangana. In March, the company has inaugurated an Engineering Centre ...