SME

Big Basket announces 100% acquisition of online milk delivery app DailyNinja

Co-founder and CEO Hari Menon said DailyNinja’s large network of milkman partners would enable the firm to expand its sales offerings under bbdaily.

The merger with BigBasket has the potential to allow DailyNinja to double its business within a month by leveraging bb’s supply chain capabilities. News

Ola gives respite to drivers impacted by lockdown; takes this step to reduce their ‘economic burden’

SoftBank-backed Ola said this will help in reducing the economic burden of its drivers even as it would continue to offer insurance benefits to them and their spouses if contracted.

Industry News

FM Sitharaman rescues MSMEs from insolvency proceedings amid Coronavirus; raises default threshold

Ease of Doing Business for MSMEs: Sitharaman said that if the current situation (due to Coronavirus) continued beyond April 30, 2020, the government may consider suspending section 7, 9 and 10 of the

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Startups, MSMEs having queries on Covid-19? Invest India sets up one-stop shop for all your questions

Ease of Doing Business for MSMEs: Setting up a stop-shop for businesses and investors to get updated information around Covid-19 gains importance as MSMEs and small businesses are likely to take maxim

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Alibaba-backed BigBasket ramps up subscription business; acquires smaller rival DailyNinja

BigBasket currently competes with SoftBank and Tiger Global backed Grofers, Amazon Fresh and Amazon Pantry, Flipkart Supermart etc in the grocery play. Swiggy and Dunzo have also been in the grocery s

Industry News

Startup India: How entrepreneurs can realise full potential of govt’s scheme, remain competitive

As the world’s economy transitions into one where economic value is created by bringing about disruption, and consequently behavioural change, governments know they have to create ample runway space

Cafe SME News

MSMEs may not survive if cash flow problem occurs amid lockdown, FICCI tells govt; suggests steps

Credit and Finance for MSMEs: FICCI requested SEBI to ask rating agencies not to downgrade SME sector from March onwards. It also sought to restore those downgraded by one notch to the ratings before

New Coronavirus Covid-19 LIVE updates in hindi here total number of death recoveries latest updates precautions directions News

India’s MSME sector swells, adds these many enterprises in FY20; micro businesses dominate

According to the MSME Ministry’s FY19 annual report, the MSME sector is dominated by micro-enterprises. India has 6.33 crore MSMEs out of which 6.30 crore -- 99.4 per cent are micro-enterprises.

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Coronavirus cripples funding in young startups as investors redirect focus on conserving cash

The Coronavirus may have a similar impact on startup funding that previous virus outbreaks like SARS and Zika had in the impacted regions.

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Learn, unlearn, relearn: What entrepreneurs need to stay competitive and fill widening skill gap

While established companies can bridge this need-gap by hiring top talent, budding entrepreneurs rarely possess enough capital to employ such resources.

Cafe SME News

Reaching for the stars: Artha Venture Fund invests Rs 3.6 crore in Agnikul

Artha Venture Fund (AVF), an early-stage micro-VC fund, has announced an investment of $500,000 ( Rs 3.6 crore) in space-tech company Agnikul in its Pre-Series A funding round.

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Raising funds remains a significant challenge for emerging businesses, says 9Unicorn Fund’s Co-Founder & MD

9Unicorn is an early-stage financing company and its co-founder and managing director, Apoorva Ranjan Sharma, is a seasoned veteran in the startup sector and a serial investor.

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Coronavirus crisis: Lower demand hits small businesses, startups hard; cost-cutting likely ahead

In order to deal with the negative impact of the Coronavirus, businesses will cut down on discretionary expenses, reduce employee costs etc.

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World’s richest man Jeff Bezos’s Coronavirus concern grows, tells workers crisis may get ‘worse’

Amazon warehouses in the US, France, and Italy reportedly saw protests by workers as the company tried to operate normal shifts.

CEO Jeff Bezos, Jeff Bezos News

Covid19 Fallout: Work-from-home practice hurting food tech firms

Not only are bulk orders from companies drying up even those who continue to order are staying with big and reputed brands, said Chef Anshu Raj, founder, cloud kitchen Caters Point.

Marico, Saffola, Zomato, Swiggy News

DrivebuddyAI: A start-up aims to reduce accidents

The device, they said, captures the video data of driving and helps fleet managers get clarity on driver performance and human challenges of driving.

It is working towards making use of artificial intelligence and computer vision technologies to solve the problem of driver distraction, which is the reason for 84% of accidents happening in the world, the start-up says. News

Veritas Finance raises Rs 350 crore from Kedaara Cap, others

He further said that having successfully crossed the phase I of the vision map, the company is now embarking on an even more exciting journey into phase II.

Veritas Finance has created a loan book of Rs 1,308 crore as February 29, 2020, with a customer base of 48,638 across eight states and one union territory News

MSMEs on verge of collapse due to non-payment of dues by govt, privatet bodies: Nitin Gadkari in Rajya Sabha

Earlier funding under MSME was limited to only scheduled banks but now all banks, NBFCs and cooperative banks can lend to them.

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Modi’s pet scheme to create entrepreneurs falling short of FY20 target; these many units set-up so far

Credit and Finance for MSMEs: Under the scheme, individuals belonging to the General category can avail margin money subsidy of 25 per cent of the cost of setting up the enterprise in rural areas and

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Coronavirus crisis: Give MSMEs concessional loans, grace period for filing taxes, Assocham tells government

Credit and Finance for MSMEs: Assocham has recommended the government multiple steps, in the light of Coronavirus impact on the trade and economy, to limit the disruption caused to micro, small, and m

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Angel Tax: Nearly 1300% jump in number of exempted startups by DPIIT till December FY20

Finance Minister Nirmala Sitharaman had exempted DPIIT-registered startups from the 30 per cent tax levied on receiving investment against the issuance of shares “which exceeds the Fair Market Value

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Snapdeal, Urban Company say lockdown cities; VCs, startups have this suggestion to fight coronavirus

As cases of coronavirus climb in the country, a group of entrepreneurs and Venture Capitalists has written to the Prime Minister Narendra Modi seeking lockdown of the impacted cities.

Industry News

Govt considers easier loan, tax rules for SMEs to help economy amid coronavirus

India is considering offering easier loan repayment terms and tax breaks for small-and medium-sized companies to help Asia’s third-largest economy weather the onslaught of the coronavirus.

From a domestic standpoint, India shall continue to be a net importer of copper in FY21, pending the resumption of Vedanta's copper smelting facility. (Reuters file image) News

Aligning artificial intelligence, big data with business goals is the need of the hour for small businesses

Technology for MSMEs: AI and big data can transform the MSME space by enabling businesses and entrepreneurs alike in creating consistent business growth.

Cafe SME News

This Kerala start-up using robots to check corona spread

While one of the two androids distributes hygiene materials to check spread of the virus, the other walks around displaying screens that detail the WHO campaign to contain the disease.

“Robots dispensing sanitiser & #COVID2019 advice,” tweeted Tharoor. News

Maruti Suzuki doubles down on startups; wants to co-develop ideas with entrepreneurs, offer cars, more

With its MAIL programme, Maruti has joined the growing tribe of corporate and large businesses supporting startups in multiple ways including incubation/acceleration initiative, venture capital funds,

Industry News

PM Modi’s Standup India scheme: Loans to micro entrepreneurs increase 60% in two years

Credit and Finance for MSMEs: The stand-up India scheme facilitates loans from Rs 10 lakh to Rs 1 crore to at least one SC/ST borrower and at least one woman borrower per bank branch of scheduled comm

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