Connect with us

Latest News

Budget 2018 – How Are The Startups Affected?

Published

on

Budget 2018,#Budget2018,How Are The Startups Affected?,Startup Stories,2018 Best Motivational Stories,Inspirational Stories 2018,Budget 2018 Highlights,India Union Budget 2018 Highlights,Union Budget 2018 Affected Startups,Indian Startup Ecosystem,Budget for Startups,How to Budget 2018 Impact Startups


The current NDA government have been very supportive of the Indian Startup Ecosystem. When it comes to the budget for the year 2018, the one thing that really affects startups is the direct and indirect taxations proposed by the government for the current year. The Union Budget 2018 created quite a bit of unrest in the startup community regarding reforms in Angel Tax and use of cryptocurrencies. Here is how the Union Budget of 2018 will affect the startup ecosystem.
Some of the biggest proposals revealed during the Budget was the plan to create a new regulatory regime for venture capital funds and angel investors. Not just that, a national programme for artificial intelligence for furthering the growth of technology has also been introduced. Jaitley also revealed a proposal that outlined a plan to set up five lakh Wi-Fi hotspots in rural areas and aims at increasing the usage of hybrid instruments to attract venture capital investment.
However, the complete exclusion of Angel Tax in the policy announcements clipped the wings of early-stage startups, most of which depend on capital from angel investors for the initial boost. Speaking about the venture capital firms and angel investment, Arun Jaitley said, “Venture capital funds and angel investors need an innovative and special developmental and regulatory regime for their growth.
Jaitley also highlighted the government’s initiatives and added the government will be taking extra measures to strengthen the environment for their growth and “successful operation” of alternative investment funds (AIF) in India. Cryptocurrencies, however, will not be one of those alternate means.
In the Budget, Jaitley clarified that although cryptocurrencies such as bitcoins are still illegal in India, the government would take a look at the blockchain technologies. Along with blockchain, the finance minister also singled out emerging technologies like artificial intelligence (AI,) internet of things (IoT) and 3D printing. For this purpose, policy think tank, NITI Aayog will be working on creating a national programme that will stoke research and result in applications in these areas.
The government raised the ceiling for the 25% corporate tax bracket up from Rs. 50 crores earlier to Rs. 250 crores annual turnover. Meanwhile, the announcement of connecting rural India with 5 lakh Wifi hotspots will facilitate the growth of a host of internet enabled services including ecommerce, online education, health tech and others.
In order to improve the women employment rate, the EPF and Miscellaneous provision act will also be amended to reduce women contribution to 8% for the first 3 years of their employment. This reform can help in bringing more women contribution to the formal sector and ensure better gender diversity in the business sector.
Pharmaceutical manufacturing and medical research startups will also get a boost with the Rs. 12,000 crores investment made to bring health closer to home.
However, multiple startup experts agree the Goods and Services Tax (GST) rates for startups need to be reduced and they should also be allowed to file tax returns on an annual basis. While the startup community has welcomed a majority of these reforms, they are also seeking for clarity for many of these proposals.
Speaking about the reforms and the budget in general, the Chief Executive Officer of Paytm Payments Bank said, “We welcome the budget initiatives for promoting financial inclusion through higher penetration of banking services, increased health insurance coverage under National Health Protection Scheme and easy access to credit. The increased outlay in infrastructure including wifi spots will extend benefits of the internet and technology-enabled services to masses. Additionally, development and digitization of agricultural markets will bring farmers into the formal economy. We look forward to leveraging these initiatives to provide digital payments, banking and other financial services to rural India.”

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneur Stories

Inside T-Hub: India’s Launchpad for Innovation and Entrepreneurship

Published

on

Imagine a building that’s not just a structure but a buzzing ecosystem. A space where startups, corporations, universities, and investors come together to create the future. This isn’t science fiction; it’s T-Hub, India’s largest innovation hub, and it’s rewriting the rules of entrepreneurship.

 

T-Hub isn’t just about workspaces. It’s a launchpad for ambitious dreams. They’ve empowered over 2,000 startups, turning ideas into thriving businesses. Think funding woes? T-Hub’s got your back, connecting entrepreneurs with angel investors and government grants. Need a mentor to guide you through the rough patches? T-Hub boasts a network of 2,000 mentors ready to share their wisdom.

 

T-Hub’s vision extends beyond startups. Here’s a glimpse into what makes T-Hub special:

  • From Seed to Scale: Whether you’re a budding entrepreneur with a bright idea or a scaling startup ready to take on the world, T-Hub has programs to support you. From the “seed-accelerator stage” Lab32 program to the “early-stage technology startups” RubriX program, T-Hub provides the tools and guidance needed to thrive.

  • Corporate Muscle: Innovation isn’t just for startups. T-Hub bridges the gap between startups and established corporations like Facebook, Uber, and Boeing. This collaboration allows startups to tap into corporate expertise and resources, while corporations benefit from the agility and fresh perspectives that startups bring.

  • Funding Powerhouse: T-Hub is more than just an idea incubator; it is also a reality maker. Through initiatives like T-Angel and the Digital India Scaleup Program, T-Hub connects startups with high-net-worth individuals, angel investors, and government funding sources.

  • Global Ambitions: Thinking Beyond Borders? T-Hub has you covered. With partnerships across the globe, from the UK government to La Trobe University, T-Hub helps Indian startups access international markets and provides foreign startups with a foothold in India.

 

And it doesn’t stop there. T-Hub 2.0, their new colossal campus, is a testament to their ambition. This behemoth is not just the world’s largest technology incubator; it’s a microcosm of innovation itself. Universities find a home here, churning out future tech leaders. Foreign partnerships open doors to international markets for Indian startups. It’s a melting pot of ideas, cultures, and expertise, all focused on creating a brighter tomorrow.

 

T-Hub’s story is far from over. They’re aiming to empower a staggering 20,000 startups in the next five years. With their focus on internationalization and capacity building, they’re poised to become a global hub for innovation. So, if you’re an entrepreneur with a dream, T-Hub might just be the launchpad that takes you to the stars.

Continue Reading

Latest News

Meta’s AI Assistant, Meta AI: Friend or Foe for Searching Giants?

Published

on

Meta Platforms (formerly Facebook) has introduced Meta AI, an AI assistant, powered by Llama 3 language model, designed to be your one-stop shop for information, chat, and creativity. This means you can get real-time information on Facebook, WhatsApp, Messenger, and Instagram without ever leaving the app!  

Meta AI’s search strategy is an intriguing twist. While it may appear to be a competitor to Google and Bing, it contends that Meta AI is not a competitor, but rather a collaborator. Here’s why:

By relying on established search engines as sources, Meta AI positions itself as a user-friendly tool that combines the best of Google and Bing. Imagine getting results from both Google and Bing in the same search. As you are exposed to different points of view, you may gain a more comprehensive understanding of the subject. They’re calling it the “most intelligent AI assistant that you can freely use,” so it will be interesting to see how it compares to other assistants on the market. 

How does Meta AI help you? 

Search Powerhouse: Meta AI combines Google Search and Microsoft Bing results to provide you with a more comprehensive view of your queries.

Chatty companions: Need answers or simply want to talk? Type “@MetaAI” into Facebook Messenger, Instagram, or WhatsApp and let the conversation begin.

Creative Spark: Feeling artistic? Meta AI allows you to create custom stickers and photos based on your text descriptions.

Where to Find Your Meta-AI Buddy:

  • Look for Meta AI in the search bars on Facebook, Instagram, Messenger, and WhatsApp.
  • To respond to posts, interact with Meta AI directly in Facebook’s main feed.
  • Explore the new meta.ai website for extended conversations.
  • Type “Imagine” into your WhatsApp chat to generate real-time images.
  • The future may even include access via Meta’s VR headsets and Ray-Ban smart glasses.

The Future of AI Assistants

Only time will tell how Meta AI integrates into our lives, but it certainly offers a glimpse into an interactive future where AI assistants cater to our search, chat, and creative needs.  Whether Meta AI becomes a true partner to search giants or forges its own path remains to be seen.

Meta AI promises a brand new way to search and interact with information.  Do you think this AI assistant will change the way we use social media? Share your thoughts in the comments below! 

Continue Reading

Emerging Startup Stories

Discover Kheyti, The Startup Changing The Lives of Farmers In India

Published

on

Farming has been an integral part of India’s history and culture for ages. It’s been the foundation of the Indian economy, supporting millions of people with food and jobs. Crops and agriculture hold immense importance in Indian society, not just in terms of money, but also in terms of culture, community, and spirituality.

Farming is a way of life for many people in India, but it can be a difficult and unpredictable business and farmers face a number of challenges, from erratic weather patterns to low market prices for their crops. Kheyti is a social enterprise founded in 2015 by Saumya, Kaushik Kappagantula, and Sathya Raghu. The organisation provides sustainable solutions to small farmers in India, helping them overcome challenges and improve their lives.

Kheyti’s flagship product is the “Greenhouse-in-a-Box,” a low-cost modular greenhouse that allows farmers to grow high-value crops year-round, even in unfavourable weather conditions. operates on a subscription-based model, where farmers can purchase a “Greenhouse-in-a-Box” kit or sign up for crop advisory services on a monthly or annual basis. Kheyti.com also earns revenue by connecting farmers with markets and buyers, taking a small commission on sales. They work to keep the costs low by partnering with local manufacturers to produce their products and leveraging tech to provide personalised crop advisory services at scale.

They also provide crop advisory services to farmers, offering personalised advice on crop selection, planting, and management. In total, The company has helped over 6,000 small farmers increase their incomes by an average of 300%. You call them small farmers, Kheyti calls them Smart farmers!

While there are other companies in India that offer similar solutions to small farmers, Kheyti stands out for its focus on sustainability, innovation, and community involvement. It works closely with farmers to develop tailored solutions that meet their needs while focusing on sustainable farming practices. Through its efforts, Kheyti has improved soil health, reduced water usage, and increased yields of various crops.

Looking ahead, Kheyti plans to expand its reach to more farmers in India and beyond and aims to continue developing new products and services that can help small farmers overcome the challenges they face. With its commitment to sustainability and innovation, The visionaries at Kheyti claim it has the potential to transform the agricultural sector and contribute to a more equitable future for all.

Imagine the joy and hope Kheyti brings to struggling farmers in India. With Kheyti’s help, over 6,000 small farmers have transformed their lives, becoming Smart farmers who handle challenges and succeed. With sustainable solutions, Kheyti is not only revolutionising agriculture but also spreading hope for a brighter future.

 

Continue Reading
Advertisement

Recent Posts

Advertisement