FTAPCCI plans to set up incubation centres in Telangana, AP
Sharath Chowdary The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry has applied to NITI (National Institution for Transforming India) Aayog to establish start-up incubation centres in Andhra Pradesh and Telangana. Among the 15 verticals suggested by the Niti Aayog, FTAPCCI has chosen the areas of agriculture and allied activities for AP, and manufacturing and engineering for Telangana. The incubation facility in Telangana will be set up in Hyderabad, while the facility in AP may be started either in Vijayawada or Visakhapatnam, the industry body President Ravindra Modi told The Dollar Business Bureau. “The incubation centres will be set up based on the conditions and guidelines framed by the Niti Aayog. The facility should have a minimum 10,000 sq ft area ...
SMEs should adopt e-commerce route to tap growth opportunities
Sharath Chowdary With the increase in internet usage, online payment systems and rapid development in the telecom sector, the e-commerce business is flourishing globally. India is also witnessing a positive trend with favourable investment climate, incubators and start-ups. But, unfortunately the Small and medium-sized enterprises (SMEs) in the country are not participating actively in this growth story. “The retail showrooms are following the marketing style of online shopping portals and sending message alerts to the customers about their offers. The brick-and-mortar stores are facing pressure from the e-commerce firms. Slowly, the heat will come to SMEs also. Instead of viewing it as a threat, see it as an opportunity. This e-commerce platform provides a gateway to new avenues,” Telangana ITEC Secretary Jayesh Ranjan said. Jayesh Ranjan ...
SBI, IIT Bombay sign MoU to aid financial start-ups
The Dollar Business Bureau State Bank of India (SBI) has partnered with Society for Innovation and Entrepreneurship (SINE) to promote innovation by start-ups in the financial sector. SINE is the technology business incubator hosted by Indian Institute of Technology (IIT) Bombay. A memorandum of understanding (MoU) was signed at SBI’s Global IT Centre by IIT Bombay Director Professor Devang Khakhar and SBI Deputy Managing Director and Chief Information Officer Mrutyunjay Mahapatra in Mumbai on Tuesday. According to the bank, this MoU is a first of its kind in India which will help in the evaluation of start-ups operating out of and promoted by SINE for engagement with SBI in the commercial exploitation of new age digital concepts, products and services. The country’s largest bank has commenced ...
MSMEs incubation centres to promote entrepreneurship in agri-industry
The Dollar Business Bureau The Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra, on Wednesday, launched a ‘Scheme for promoting Innovation, Entrepreneurship and Agro Industry’. Speaking on the occasion, the Union Minister said that the scheme was aimed at setting up network and incubation centres for the promotion of start-ups for innovation and entrepreneurship in the agro-industry. This scheme has got its origin in the announcement made by the Union Finance Minister, Arun Jaitley in his budget speech, to set up a ‘Technology Centre Network’ to promote Innovation, Entrepreneurship and Agro Industry with a fund of Rs 200 crore. Referring to the budget speech, Kalraj Mishra also highlighted about the need for implementation of a programme to ...
