Connect with us

Latest News

Karnataka To Fund Startups From Across The Country

Published

on

The Karnataka Government will fund startups from pan India by calling them to register in Karnataka. According to IT Minister of Karnataka, Priyank Kharge, entrepreneurs and startups across the country seeking funds can soon look up to the Karnataka government.

The IT Minister further added, “We want to take our startup policy to the national level this year. We will support startups from across the country provided they pay taxes here.” For this purpose, entrepreneurs registered in Karnataka under the Shops and Commercial Establishment Act, 1961 can apply for funds and other initiatives. The Minister, however, did not elaborate on when this new phase will kick off and whether more funds will be allocated.

The Karnataka government was one of the first governments in India to launch their startup policy in 2015 in line with Prime Minister Narendra Modi’s Startup India initiative. Since then, the government has set up several funds with a corpus of over Rs. 300 crores to back startups across different sectors such as biotechnology, tourism and animation. In accordance with their five year startup plan, the State Government is aiming to boost 20,000 technology based startups by 2020 in Karnataka and create 6 lakh direct and 12 lakh indirect new jobs in the sector. In 2017 alone, 250 startups received funding from the from the Government while 5000 startups were registered under the policy.

In October last year, the Karnataka government also invested Rs. 40 crores in the construction of a state of the art artificial intelligence (AI) and data science capabilities center. The Centre of Excellence for Data Science and Artificial Intelligence aims to help global companies create approximately 35,000 jobs over the next five years for data science and artificial intelligence professionals. In August, the State government also provided funding worth Rs. 35 crores to 100 innovative startups through its Elevate 100 program.

According to the data from research firm Tracxn, till date, Karnataka has funded 890 startups while Maharashtra funded 645 and Delhi NCR funded 419. Currently, 7909 startups were founded in Karnataka following Maharashtra with 8117 startups.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Latest News

MPL to Lay Off 60% of India Workforce Following Online Gaming Ban

Published

on

MPL

Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

This development significantly disrupts the Indian online gaming industry, which was on track to grow into a $3.6 billion sector by 2029 before the introduction of the ban. While competitors like Dream11 have adapted by discontinuing paid games and avoiding layoffs, the ban has forced many gaming startups in India to rethink their operations. The government’s regulation targets all games involving real money stakes, including fantasy sports and popular card games like rummy and poker, reshaping the future landscape for the country’s gaming ecosystem and its workforce.

Continue Reading

Latest News

NCLT Approves Amalgamaxtion of Info Edge Subsidiary Makesense with PB Fintech

Published

on

Info Edge - PB

The National Company Law Tribunal (NCLT) has granted approval for the amalgamation of Info Edge’s subsidiary, Makesense Technologies, with PB Fintech as of August 29, 2025, in a significant move for India’s fintech sector. This strategic merger aligns with Info Edge’s ongoing focus on streamlining its corporate structure and supports PB Fintech’s growth trajectory as the operator of leading platforms such as Policybazaar and Paisabazaar. The amalgamation, cleared by NCLT’s Chandigarh bench, took place without winding up either company, enabling a seamless blending of assets and expertise for greater operational efficiency.

In the specifics of this deal, Makesense Technologies—holding a 13.04% stake in PB Fintech as of June 2025—will see its shareholders allotted 59,750 equity shares and 60,030 compulsorily convertible preference shares from PB Fintech, with no change to Info Edge’s underlying economic interest. The consolidation is expected to cut compliance and administrative costs, simplify the equity structure, and enable both companies to focus on core business strengths without duplication of resources. This move is designed to strengthen PB Fintech’s position in India’s fast-evolving fintech and insurance market, while keeping Info Edge’s investment objectives intact.

The NCLT-approved merger highlights a broader trend of consolidation within India’s tech-driven industries, as major players seek to boost competitiveness and achieve sustainable growth through mergers and amalgamations. Stakeholders—including shareholders and employees—are set to benefit from the new, streamlined structure, increased transparency, and the promise of enhanced value creation going forward. The unification of Makesense Technologies and PB Fintech is expected to make a positive impact on the broader fintech ecosystem, reinforcing both companies’ leadership and innovation agendas.

Continue Reading

Latest News

ShareChat Appoints Neha Markanda as CBO

Published

on

Sharechat

ShareChat, one of India’s premier social media platforms, has strengthened its leadership by appointing Neha Markanda as Chief Business Officer for both its flagship ShareChat platform and the popular short video app Moj. Markanda, previously Head of Industry, E-commerce at Google India, brings over 22 years of expertise across renowned companies like Meta, GSK Consumer Healthcare, PepsiCo, and ITC. At Google India, she led transformative strategies in e-commerce and health tech, ensuring market growth and technological innovation for global brands. Her proven track record uniquely positions her to drive ShareChat’s revenue strategy, business expansion, and partnerships with advertisers and regional stakeholders.

Markanda’s appointment comes at a pivotal time for ShareChat, which recently achieved profitability and has projected a robust ₹1,200 crore revenue run rate for the year. The platforms boast a combined monthly active user base of more than 325 million, making ShareChat and Moj essential tools for marketers seeking to increase engagement across India’s diverse regions. Markanda’s expertise is expected to further accelerate ShareChat’s business growth, opening doors for brand collaborations and hyper-targeted influencer campaigns, which can connect marketers to local audiences in a culturally relevant manner.

With advanced degrees from the Indian Institute of Foreign Trade and Lady Shri Ram College, Markanda’s leadership is set to reinforce ShareChat’s momentum as India’s go-to platform for marketers and creators looking for trusted, brand-safe environments. Her focus on vernacular content and building robust partnerships will complement ShareChat and Moj’s mission to empower regional creators and deliver authentic engagement. Industry experts have lauded this strategic move, anticipating that Markanda’s vision will help ShareChat and Moj maintain their edge in India’s social media landscape.

Continue Reading
Advertisement

Recent Posts

Advertisement