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The Marathwada Accelerator for Growth and Incubation Council (MAGIC), in collaboration with Tata Technologies Limited through CSR funds, initiated a student startup project to promote entrepreneurs from tier 2 and tier 3 cities in Maharashtra and Karnataka. The project, known as the Ready Engineer Magic Startup (REMS) incubation program, was organized, attracting participation from more than 100 budding industrialists.

Lauding the initiative and efforts of the innovators and youth, Mandaviya said that there is immense power among the innovators, researchers and youth startups in the country who know how to do Research and Logic Development. If one gets help at the approval stage itself, then wonders can be achieved which will take India miles ahead in becoming Atmanirbhar and achieving the vision of Viksit Bharat, he said.

InCred Finance has closed its series-D funding round, securing $60 million from a clutch of high-net-worth individuals. The round has catapulted the non-banking lending company into the unicorn club with a valuation of around $1.04 billion. InCred is the second new unicorn of this year after quick commerce startup Zepto.

InCred Finance has closed its series-D funding round, securing $60 million from a clutch of high-net-worth individuals. The round has catapulted the non-banking lending company into the unicorn club with a valuation of around $1.04 billion. InCred is the second new unicorn of this year after quick commerce startup Zepto.

InCred Finance has closed its series-D funding round, securing $60 million from a clutch of high-net-worth individuals. The round has catapulted the non-banking lending company into the unicorn club with a valuation of around $1.04 billion. InCred is the second new unicorn of this year after quick commerce startup Zepto.

Venture capital funds to startups drop 66% to $6.9 billion in January November India s startup ecosystem continues to face a funding winter, with startups in India raising $6.9 billion across 1,013 VC funding deals during January November 2023. This reflects a 65.8% drop compared to the previous year.

What Paytm said on job cuts One 97 Communications, parent of Paytm , has reportedly laid off more than 1,000 employees at multiple units According to a report in Economic Times, the publicly listed financial services company is looking to cut costs as it realigns its various businesses

With startups laying off around 15,000 employees so far in 2023 amid a funding slump, the next year may see more firings as companies focus more on efficiency and integrating AI capabilities to cut costs. The trend seems to have begun before the end of the year after Paytm on Monday said it has reduced its headcount in the operations and marketing team by implementing AI powered automation in their processes, leading to a 1015% cut in its employee expenses.

The HPS StartX Summit unfolded as a daylong event, featuring a Startup symposium spotlighting young alumni run startups, engaging masterclasses, and seminars. It marked the initiation of a global Alumni founders community for ongoing mentorship programs, internship opportunities, and support for entrepreneurial aspirations through seed and pre-series funding.

The Indian startup sector s equity fund raise has nosedived for 2023. However, venture debt, a recent phenomenon, is slowly gaining acceptance. According to industry players, venture debt crossed the $1 billion mark. Though venture debt is still small compared to the $7.5 billion, it is slowly rising in significance in the startup ecosystem.