67 of total 671 selected startups receive tax benefits so far, says minister

67 of total 671 selected startups receive tax benefits so far, says minister

The government has extended tax benefits to 67 startups so far with a view to promoting budding entrepreneurs in the country, minister of state for commerce and industry CR Chaudhary said on Tuesday. In January 2016, Prime Minister Narendra Modi had unveiled a slew of incentives to boost start-up ecosystem, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them. “3,576 startups have been recognised as on September 7 and tax benefits have been given to…

Read More

Odd-Even Scheme: Startups Expand Scope, Offer Free Rides

Odd-Even Scheme: Startups Expand Scope, Offer Free Rides

With the second phase of odd-even scheme set to be rolled out from tomorrow, ride-sharing apps like 360Ride and Rapido are lining up free rides and scaling up operations to handle higher demand from consumers. The odd-even scheme was implemented on an experimental basis from January 1 to January 15 in view of high air pollution in the national capital. The second phase will commence on April 15. Bike taxi operator Rapido said it will offer free rides to people travelling to and from some of the metro stations like…

Read More

Dear Startups, It’s Time to Be the Best, Not Just the Biggest

Dear Startups, It’s Time to Be the Best, Not Just the Biggest

Launched in India in 2010, Ola has been one of the most successful companies here. It was the most funded startup in 2015, and it’s one of the few companies that has been able to compete with Uber. In September 2015, the company rolled out Ola Shuttle in Bengaluru and Gurgaon, essentially a private bus shuttle, with air-conditioned buses that offer Wi-Fi connectivity. They’ve expanded in scope, and now cover parts of Noida as well as part of a trial, but using them on a daily basis shows the gulf…

Read More

Do Indian Startups Have a Service Problem?

Do Indian Startups Have a Service Problem?

Indians are notorious for being paranoid about spending money online. Few people even have cards to pay online in this country, and fewer still like to use them, which means that cash truly is king. Although a growing cadre of companies such as FreeCharge and Paytm are boldly predicting the death of cash, the actual experience of using these services shows how far we have to go before they earn the trust needed to hold on to our money. There are many reasons to actually use a virtual wallet –…

Read More