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State govt aims to make Bengaluru among top 10 startup ecosystems globally: Priyank Kharge

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The city of Bengaluru will aim to break into the league of top 10 startup ecosystems in the world from the current position of number 21, said Karnataka IT Minister Priyank Kharge.

Addressing a gathering to felicitate the winners of ELEVATE, the Karnataka IT department’s grant-in-aid programme for startups on Wednesday, the minister said the GDP growth rate of Bengaluru is projected to grow at 8.5% till 2035, making this city an ideal destination for the startup ecosystem.

“We will extend all the support for the growth of startups in the state,” Kharge said.

According to the minister, numerous startups are also extending their operations to other countries, and the government will come out with a new policy to create country-specific corridors to enable these companies to have easier access to those markets.

Elevate

Startup finalists of Karnataka IT Department’s ELEVATE programme

The state IT department also launched the Bengaluru Innovation Report of 2024, which highlighted the numerous advantages of the city to help startups to launch their operations.

Today, Bengaluru is home to 45 unicorns out of the 112 in the country, with a total valuation of $161 billion. The minister remarked that the goal will be to break into the top three rankings in the world.

Kharge also highlighted how the startup ecosystem has expanded into other regions of the state, namely Mysore, Mangaluru and Hubli-Dharwad. These regions put together have 1,500 startups.

The Department also felicitated 263 startups in the State with a total grant of Rs 60 crore. The winners were from across four schemes within the ELEVATE programme: ELEVATE Kalyana Karnataka supporting entrepreneurship in the Kalyana Karnataka region; Amrita Startups supporting entrepreneurship and innovation by OBC entrepreneurs; ELEVATE Unnati to identify and nurture startups promoted by SC & ST entrepreneurs and ELEVATE encouraging entrepreneurs across the state requiring early-stage funding to develop a prototype, strategize market entry and scale-up.

Among the 263 winners, 47 startups were led by women entrepreneurs, and 119 startups hail from Tier II and III cities in the state.

The ELEVATE scheme was launched by the Department of Electronics, IT, BT and S&T to identify and nurture innovative startups and help materialize their ideas into innovative products. A one-time grant of up to Rs 50 lakh is given to encourage innovators who may need early-stage funding to develop a prototype, market development, and scale-up.

To date, the Department has supported 983 startups with a committed fund of Rs 224.06 crore as seed funding.





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Thesys secures $4M funding led by Together Fund

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AI startup Thesys bags $4 million funding in a round led by Together Fund. The round also saw participation from 8VC, the company said in a statement.

The startup will use the funding to bridge the gap of user experience with AI agents. As a visual collaboration tool, the company will also provide a platform that will enable businesses to ideate, visualise, and ship intelligent experiences at scale.

“The way we engage with technology is changing faster than ever. Static interfaces simply don’t meet the demands of today’s AI-capabilities…At Thesys, we’re building tools that make it possible for businesses to adapt and thrive in this new era,” said Parikshit Deshmukh, Co-founder, Thesys. 

This evolution is about unlocking the full potential of AI-driven interactions and delivering unparalleled user experiences, he added.

“The future of AI relies as much on intuitive, adaptive interfaces as it does on backend capabilities. Thesys’ vision for Generative UI aligns perfectly with Together Fund’s commitment to enabling founders who are redefining the user experience,” said Manav Garg, Co-founder and managing partner of Together Fund.

“By empowering teams to create real-time, personalized interactions, Thesys is setting a new standard for AI-driven interfaces. We’re excited to support their journey in transforming the role of design and development tools for the next generation of AI applications,” he added.

The company, founded by Rabi Shanker Guha and Parikshit Deshmukh this year, emerged from the understanding of the need to provide support in the shift towards AI-driven interfaces, it said.

“Thesys envisions a future where all interfaces dynamically adjust to each user’s behavior, preferences, and needs—driven by what the company calls “Generative UI”. Unlike traditional static interfaces that rely on predefined paths, Generative UI uses AI to create unique, adaptive user interfaces on-the-fly, allowing businesses to provide truly personalized digital experiences,” the company added.

The company plans to launch a UI SDK that is set to enable developers to seamlessly integrate Generative UI into their applications. Additionally, post its closed beta launch, the company plans a general availability (GA) with its product within the next quarter positioning itself as the go-to product toolkit for businesses looking to stay ahead in the AI revolution.

“Thesys is pioneering a transformative shift in UI design workflows by integrating AI-driven adaptability… Their Generative UI approach aligns with our commitment to investing in technologies that drive innovation in user experiences,” said Bhaskar Ghosh, partner at 8VC.





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BrowserStack launches AI-driven Low Code Automation tool

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Software testing platform BrowserStack has rolled out Low Code Automation, a solution to simplify test automation for quality assurance teams, developers, and non-technical users. 

The newly launched solution will address challenges faced by software teams, including manual testing delays and complex automation frameworks, BrowserStack said in a statement. 

While traditional test automation requires coding expertise by often limiting non-technical testers to contribute, this tool allows user—irrespective of their technical background—to create and manage AI-driven automated tests without writing code. Users can also use BrowserStack’s cloud infrastructure for reliable test execution.

“(The AI-powered Low-Code Automation (LCA) simplifies the process of building and maintaining test automation suites compared to traditional tools like Selenium. It reduces the steep learning curve and complexity often associated with automation projects, leading to a quicker return on investment (ROI),” Chintan Doshi, Director of Product Management at BrowserStack, told YourStory

To support development teams worldwide, Low Code Automation speeds up testing cycles, boosts product quality, and enhances user experience by reducing technical barriers. 

“Citizen testers—such as business analysts, product managers, and customer support teams—can easily add validations and create automated tests with the test recorder, without requiring coding skills. This reduces their dependency on developers and QAs and empowers them to actively contribute to testing efforts,” Doshi explained.

Founded in 2011 by Ritesh Arora and Nakul Aggarwal, BrowserStack provides a cloud-based platform for developers to test websites and mobile apps across devices, operating systems, and browsers on demand.

With headquarters in San Francisco and Mumbai, the company has expanded its product line to include over 15 products, of which 10 were launched in the past 18 months.

In August, the Accel-backed firm acquired Berlin-based Bird Eats Bug, an advanced bug-reporting tool. The acquisition aims to address the existing gaps in bug reporting and streamline fragmented testing workflows.





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Flipkart’s delivery arm Instakart reports widening losses, lower revenue in FY24

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Flipkart’s delivery service arm Instakart’s FY24 losses increased multifold to Rs 1718.4 crore, from Rs 324.6 crore in the previous year, hurt by higher expenses and marginally lower revenues. 

The company, which is in the logistics, warehouse, courier and allied services business, clocked an operating revenue of Rs 12,115.3 crore in FY24, 5% lower than Rs 12,787.4 crore it posted a year ago, according to filings made with Toefler. 

During the period, the company’s total expenses increased 6% to Rs 14,149.4 crore, mainly driven by employee benefit and other expenses. 

Logistics services accounted for the majority (about 78%) of Instakart’s total operating revenues, with Rs 9,429.8 crore, marginally lower than what it collected in the previous year.

Warehousing services, which accounted for about 10% of total operating revenues, witnessed a 28.4% drop in revenue, while collection services, which accounted for 12%, remained stable. 

Just a week ago, Flipkart Internet reported a 21% rise in FY24 revenue at Rs 17,907.3 crore helped by rising income from its advertising services.

Flipkart India Ltd, which is Flipkart’s business-to-business (B2B) arm, reported a 26.4% rise in revenue from operations at Rs 70,541.9 crore in FY24. 





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