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NB Ventures gears up to handhold Indian startups foray in Gulf Premium Neeleshwar Bhatnagar, MD & CEO, NB Ventures Dubai based NB Ventures, a venture capital firm which invests in growth stage startups in India, is now working towards expansion of its portfolio companies into the Gulf market, a top executive told VCCircle.

Chief Minister Conrad Sangma announced on December 11 that the state’s Smart Village project secured the third-place honour at the prestigious World Open Innovation Conference held in Bilbao, Spain. The accolade was bestowed upon the project for its exceptional Best Practice Implementation.

New Delhi: Magsmen Brand Consultants, a leading brand consultancy rm, today announced a strategic partnership with VIT AP, a renowned institute of technology and innovation in Guntur, India. This collaboration aims to empower students through internships, elevate exceptional student projects through the Launchpad initiative, and cultivate an environment of innovation and entrepreneurship.

The factchecking unit being set up by the Karnataka government is expected to be operational in January 2024, Information Technology Minister Priyank Kharge told The Indian Express on Monday. The information technology and biotechnology department, which pilots the unit, has written to the home department to depute an officer of the additional director general of police rank to head it, he said.

In India, startup funding has declined to a five-year low figure in 2023 $7 billion as compared to $25 billion received in the previous year, a nearly 73% decline from funding recorded in 2022 amid a worsening global macroeconomic environment tossed by geopolitical tensions.

This is why the EU set out to be the first major economic region worldwide to develop comprehensive regulations for AI. The aim is to achieve comprehensible, transparent, fair, safe and environmentally friendly AI, according to the European Commission’s draft legislation.

The funding winter hasn’t dampened the enthusiasm of a large number of veteran entrepreneurs, high networth individuals (HNIs) and celebrities towards the startup eco system. In fact, they have provided a lifeline to many startup entrepreneurs, according to data gathered by market intelligence platform, TheKredible, they have made upwards of 101 investments in 2023

The government is working on a multicounty, consensus-based declaration on artificial intelligence, specifically on ways to mitigate risks and fostering innovation, electronics and information technology minister Ashwini Vaishnaw said on December 11, a day ahead of the Global Partnership on Artificial Intelligence (GPAI) Summit.

Despite a slowdown in startup VC funding, the landscape for Generative AI (GenAI) startups presents a stark contrast. Startup funding has been subdued in 2023 with $224 billion in total venture capital funding (as on 8 December 2023). Total VC funding fell 65 percent in 2023 since 2021 when startups raised a record $655 billion.

Despite a significant drop in overall startup funding in 2023, Generative AI (GenAI) startups have bucked the trend, raising a record $10 billion, according to a report by GlobalData. This marks a 110% increase compared to 2021, even as total venture capital funding fell by 65% to $224 billion.