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As funding becomes scarce for the Indian startup ecosystem in general, the explosion of Artificial Intelligence (AI) has given a new lease of life to entrepreneurs and founders in the country, as the Centre extends support to the sector.

India is witnessing a surge of unicorn startups or privately held companies valued at over 8,600 crore, that are disrupting various sectors and attracting global investors. In 2022, India added 14 new unicorns, taking the total count to 100, ranking third globally behind the US and China.

Do you have any collaborations with the startup ecosystem or academia in the country on top of the Development Center and the manufacturing plant that is currently being built. We also have very active engagements with the startup ecosystem in the country. Semiconductor startups are sometimes very difficult to scale because of the inability to access high end manufacturing and labs.

It also set up a fund to target middle to late-stage Indian startups. Earlier this year, it acquired a stake in DMI Finance Private Limited, an Indian fintech company. We would like to do a bit more, Kamezawa said, adding that the country also serves as a location for the bank’s back-office operations centre.

I was an intraday stock trader even before I started my career with Happay and MSS Payments. Over there, I was introduced to the startup culture and primarily the banking sector with exposure to APIs to further create layers on it to service the respective corporates with fintech products.

OpenAI is in early discussions to raise a fresh round of funding at a valuation at or above $100 billion, people with knowledge of the matter said, a deal that would cement the ChatGPT maker as one of the world’s most valuable startups. OpenAI s rocketing valuation matches the AI frenzy it kicked off one year ago (AP)

Punjab Finance Minister Harpal Singh Cheema on Friday asked banks to meet targets of disbursement of Mudra and other loans for startups in the state by March. He said emphasis should be given on schemes aimed at empowering the Scheduled Caste community and women.

The EU s approach has faced criticism for being perceived as too stringent and potentially stifling innovation. Experts believe it could hamper the competitiveness of European startups against those in the US, UK, or China. France, which is home to AI startups like Hugging Face and Mistral AI, along with Germany, and Italy, had previously pushed the idea of self-regulation for makers of generative AI models in an apparent effort to support local startups.

India’s top entrepreneurs and investors don t just run their companies they also help the government make policies around startups. The Modi government has reconstituted the National Startup Advisory Council, the body that advises and works with the government to promote startups and entrepreneurship in India.