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Karnataka Govt Shortlists 100 Startups Through Elevate 100

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2017 Business Latest News, Elevate 100 Karnataka, Elevate 100 program, Karnataka government News, Karnataka Govt Elevate Program, Karnataka Govt Shortlists 100 Startups, startup stories, Startups Through Elevate 100

The Karnataka Government shortlisted 100 innovative startups to provide a funding of Rs. 35 crores through its Elevate 100 program. In the next stage of this program, the selected startups will be given access to mentors, incubators and venture capital investors, based on the recommendations of an expert panel.

The startups were selected through a four layered selection process with over 250 startups vying for these top 100 slots in the final leg of the process. Over 1,700 startups applied for the program which was announced over a month ago. According to Minister for Information Technology and Biotechnology Priyank Kharge, close to 400 startups that applied were from rural areas and more than 350 were women entrepreneurs.

The selected 100 startups will get a kit with freebies from Google, Amazon and Zoho and services and mentoring from firms such as PwC, Yes Bank and Kotak Mahindra Bank. The government investment will be made in the form of grants as well as equity through Karnataka’s BioTech and IT funds. Google, Amazon and PricewaterhouseCoopers Pvt., Ltd., along with 5 other top companies have signed a memorandum of understanding with the Karnataka Government to cater to the needs of these 100 companies.

The top 100 finalists work in areas such as electronic system design,  manufacturing and IoT space, medical technology space, biotech sector and in the agricultural space. Speaking about the selection process, Minister Priyank Kharge said not a single representative of the State was on the selection panel to ensure that the State’s role was to only bring together corporates and startups. “The efforts of the Karnataka government doesn’t stop at elevating the chosen 100. We see ELEVATE 100 as a continuing process where the best ideas from the State gets the support and guidance it deserves,” he added.

The Elevate program traversed the length and breadth of Karnataka for finding startups and promoting startup culture outside of Bengaluru. Kharge also added it was extremely encouraging to see the growth of startups in Hubbali, Belgaum, Mangaluru and Mysuru.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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MapmyIndia Sees 28% Surge in Q4 Profit, Hits INR 49 Cr

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MapmyIndia reported a strong fourth quarter for FY25, with consolidated net profit rising 28% year-on-year to INR 49 crore, up from INR 38.3 crore in Q4 FY24. Revenue from operations jumped 34% to INR 143.6 crore, while total income climbed 40% to INR 166.8 crore. EBITDA surged 47% to INR 58 crore, and the EBITDA margin expanded to 40% from 37% a year ago.

The Consumer Technology & Enterprise Digital Transformation (C&E) segment led growth, with revenue up 60% to INR 88.1 crore, while the Automotive & Mobility Technology (A&M) segment rose 7% to INR 55.4 crore. The company’s map-led business maintained strong EBITDA margins at 47%, and IoT-led margins improved to 14% in FY25 from 12% last year, reflecting a shift toward SaaS revenue.

For the full year, net profit increased 10% to INR 147.6 crore, and operating revenue grew 22% to INR 463.3 crore. The order book at year-end stood at INR 1,500 crore, up 10% year-on-year, supporting the company’s target to surpass INR 1,000 crore in revenue by FY28.

MapmyIndia also announced the renaming of its subsidiary Vidteq to Mappls DT, focusing on digital transformation and defence tech, led by former CEO Rohan Verma. The company declared a final dividend of INR 3.50 per share for FY25, and its shares closed 1.54% higher following the results.

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