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NORKA Pravasi Startup Scheme: More Than 4,000 Expatriate Entrepreneurs and Startups Benefit in Last 5 Years; Here’s How Interested Pravasis Can Apply For The Scheme Online

स्टार्टअप

Thiruvananthapuram, January 27: With an aim to help the expatriate entrepreneurs, the Non-Resident Keralites Affairs (NORKA) Pravasi Startup Scheme has proved to be a major hit for these startups. Reports inform that the NORKA has supported 4,179 expatriate entrepreneurs over the past five years. Moreover, the Left government in Kerala has sanctioned Rs 220.37 crore for such start-up projects by ”pravasis” who have returned to Kerala, an official release said.

In the last financial year i.e. in 2019-20, 1,043 people realised their entrepreneurial dreams using the Pravasi Startup Scheme and Rs 53.40 crore was sanctioned for this, the government said in a release. TheNon-Resident Keralites Affairs (NORKA) Pravasi Startup Scheme is a joint venture between NORKA and the Kerala Startup Mission to create self-employment opportunities for Pravasis who return from abroad and wish to embark on a new journey here as entrepreneurs.

The main aim of the NORKA scheme is to rehabilitate expatriates who can contribute to the economic development of the State according to their professional skills. Kerala Bank, Canara Bank and the Travancore Pravasi Development Co-operative Society are few of the 16 banks that provide loans to expatriates.

NORKA Pravasi Startup Scheme: All You Need to Know

  1. Loans up to Rs 30 lakh with a capital subsidy of 15 percent (subject to a maximum of Rs 3 lakh) are available for start-ups by those expats who have returned to Kerala after working abroad for at least two years and now settled in Kerala.
  2. The scheme also offers a 3 per cent interest rebate for the first four years for those who repay the interest on time.
  3. Kerala Bank, Canara Bank and the Travancore Pravasi Development Co-operative Society are few of the 16 banks that provide loans to expatriates.
  4. NORKA has expanded its field camps to reach out to more people, to make the loan procedures easier and to make loan processing in a single day.
  5. Seven camps were conducted during the 2019-20 financial year and about 500 pravasis have benefitted from this.

Here’s How You Can Apply and Check Details Online:

Interested Pravasis can check http://norkapsp.startupmission.in and norkapsp.startupmission.in for further details and apply for the scheme. People cab also call on 08047180470 for any information on the Kerala Startup Mission. NORKA toll-free numbers 18004253939 (from India) & 00918802012345 (Missed Call Service from abroad) and on http://norkaroots.org and norkaroots.org website.

The Norka Pravasi Startup Programme(NPSP) will facilitate the NRIs by means of various Technology business opportunities which the NRI community can adopt and contribute to the economic development of the state.

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Startup

Indian Startups Attract $10.14 Billion in Funding Across More Than 1,200 Deals in 2020 Despite COVID-19 Crisis: Report

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Startup (Photo Credits: Pixabay)

New Delhi, January 27: Despite the COVID-19 crisis, Indian startups, which were largely impacted due to the pandemic, are estimated to have received USD 10.14 billion in funding across more than 1,200 deals in 2020. According to a report by consulting firm HexGn, even though the total investment received in 2020 is lower than that of 2019 (USD 14.5 billion), the number of deals were higher by 20 percent. “Weathering negative sentiment, seed stage investment deals grew by 50 per cent from USD 353 million over 420 deals in 2019 to USD 372 million over 672 deals in 2020. This is a good sign for people looking to plunge into startups, as early-stage investors are now keen to back risk-takers early on,” the report noted. The report said that this can be attributed to the work done by Invest India, Startup India, AgNii and other agencies of the Indian government to boost investor confidence and entrepreneurial culture.

The HexGn report added that this is the third year in a row that India has kept its number four position globally after the US, China and the UK. A report by IANS states that globally, startups raised over USD 308 billion in funding, with the US garnering USD 165 billion. The report said Bengaluru, Delhi NCR and Mumbai accounted for 90 per cent of the startup investments in the country, signalling concentration of angel investors and appetite in these regions. Bengaluru led with USD 4.3 billion in startup investments, followed by Delhi NCR (USD 3 billion) and Mumbai (USD 2 billion).

The study revealed that in terms of sectors, e-commerce attracted the highest investment with USD 3 billion, followed by fintech at USD 2.37 billion and edtech at USD 1.52 billion. The biggest gainer has been the edtech segment that grew four times this year from USD 380 million in 2019. However, sectors like transportation and logistics, and travel and tourism saw more than 90 per cent drop in investments in 2020 as compared to 2019, it added.

In 2020, the startups that attracted maximum funding include Zomato (USD 1.02 billion), Byju”s (USD 922 million), Phonepe (USD 807 million), Unacademy (USD 260 million) and Ecom Express (USD 250 million), as per the HexGn report. These numbers do not include funds raised by Jio Platforms (Rs 1.52 lakh crore) in 2020. The report noted that these numbers are early guidance and there could be changes as more companies make announcements on funds received.

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Start-Up Location: 4 Factors You Should Consider While Selecting a Location to Start the Business

Business Location| Representative Image (Photo Credits: Pixabay)
Business Location| Representative Image (Photo Credits: Pixabay)

Many people are planning to establish their own business. From starting a firm to making it sustainable and successful, a lot of efforts are required. There are various factors that effect the business’ operations. An entrepreneur should carefully take decision on all such factors to ensure long term survival and growth of the start-up. One such important factor is the location of the business establishment. Selecting the appropriate location for starting the business is a tedious, time consuming yet crucial in development of business. Want to Design a Suitable Logo for Your Start-Up? Follow These 4 Tips to Make Effective & Attractive Logos.

There are several factor which influence the decision of selection the right location for your business and should be taken into account while picking up the best spot for the start-up. Here are four factors that an entrepreneur must consider before zeroing down on a place of business:

Nature of the Business

The nature of business is an important factor to be considered while deciding the business location. If the start-up is focused on manufacturing, then the business should be located in the place which is nearer to the raw material sites, so that a regular supply of inputs at reduced costs is ensured. Similarly, if its a B2C set-up then the business should come up at a market place that is easily accessible to the potential consumers.

Target Market Segment

Another important factor to be taken into consideration is that nature of target market. If the start-up is youth centric for instance cafes, electronic accessories, it is advisable to open the business in a popular spot. If the business is related to education and stationary, places near the college campus would be right spot.

Foot Traffic

For any business a regular foot traffic is important. Without regular and consistent foot traffic, a business will eventually fail. If the business is based on a retail model, then heavy foot fall is important for its survival’ Hence while selecting a location for the business, it is important to check the foot traffic in the area.Planning to Launch a Start-Up? Follow These 5 Tips to Select the Perfect Name for Your Business.

Location of Competitors

The location of competitors also has an influence of the location of the business. Ideally, start-ups should choose a spot that is near to the competitor’s location to take advantage of its excess customers. It also helps to create awareness about the business.

Establishing a business involves huge costs and is a long term decision. It effects the operations and functioning of the business. Hence, the entrepreneur should be very careful while selection a appropriate location for the business.

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Agri Startups in Chhattisgarh to Get Major Boost As State Gets 2 Incubation Centres in Raipur; Here’s How Budding Entrepreneurs Would Benefit

Agri Startups (Photo Credits: Pexels)

Raipur, January 24: In a bid to promote startups and innovators in agriculture and allied sectors in Chhattisgarh, two incubation centres have been inaugurated at the Indira Gandhi Krishi Vishwavidyalaya (IGKV) in Raipur. The inauguration was done virtually by Chhattisgarh Chief Minister Bhupesh Baghel on Saturday. During the event, Baghel said every university in the state should establish incubation and manufacturing hubs to promote new business ideas.

Here’s how the incubation centres will help agri startups in Chhattisgarh:

The incubation centres will provide infrastructure, technology, financial and business networking assistance to budding innovators and entrepreneurs in the agri-biotechnology and agriculture sector, a public relations officer of the IGKV said.

The Chief Minister underlined the role of youth across the state ‘Gadhbo Nava Chhattisgarh’ (create a new Chhattisgarh) campaign and said all educational institutions should work towards developing entrepreneurial skills in youth. The Biotech Incubation Centre and Agri-Business Incubation and Production Centre was inaugurated to mark the birth anniversary of freedom fighter Netaji Subhas Chandra Bose.

Baghel also laid the foundation stone for a new building of the biotech incubation centre, which is a part of the biotechnology park, a joint project of IGKV Raipur and state Agriculture department, he said. The project will be completed in two phases, the official said.

In the first phase, the new building of the incubation centre will be set up at a cost of Rs 30 crore in the university campus in the next two years, where 23 companies will be provided facilities for their offices and labs, he said. They will also be given technical and business networking guidance.

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Planning to Launch a Start-Up? Follow These 5 Tips to Select the Perfect Name for Your Business

Tips for Naming Start-Ups| Representational Image (Photo Credits: Pixabay)
Representational Image (Photo Credits: Pixabay)

As per an old and highly popular saying, First Impression is the Last Impression. For a business, the name creates its first impression in the minds of people. It provides an identity to the firm. The name also helps in creating a unique position to the firm as well as its product. The business carries the name for years to come. It is associated with creating brand image, goodwill and developing a connect with the people. Hence, an entrepreneur needs to be very careful while naming the business.5 Billion Dollar Sales Strategies that will Boost Business Sales!

From incubation to implementation, for starting a business an entrepreneur has to face various stages and struggles. They usually overlook the most important aspect of business establishment, that is deciding a suitable name for the firm and end up picking up the first name that comes in their minds. Various factors effect the process of naming the business. Here are some tips to follow while deciding the name for your start-up –

Keep It Short

The business should have a short name, so that people grasp and remember it easily. People should be able to say it in one breathe. Ideally, the name of the business should be between 17 to 24 characters. It ideally should not have more than two words. A short name helps in creating more attractive marketing campaigns as well.

Go With Catchy Words

Another way to embed the business’ name in consumers mind is by making is catchy and quirky. Go for words and phrases which are appealing to the public at large. Try to make the name as relatable as possible. Do not use difficulty or ornamental vocabulary which is difficult for the people to grasp and understand. It will fail the purpose. Govt. of India Free Online Learning Program for Start-Ups.

Name Should be Easy to Spell

The name should be easy to spell and pronounce. People should not get confuse in its spelling. Use the original spelling of the word. Entrepreneur should avoid twisting or modifying the spelling of the name. Consumers should be able to pronounce the word as soon as they look at it, so that they are able to retain it.

Check for Domain Name Availability

If your business is on an online platform, before deciding the name the entrepreneur should run a quick check on the availability of the domain name. The name should reflect the business’ operations as well as its vision. It is important to make sure that the name is not similar to already established business that would create confusion and divert the firm’s customers to other website.

Feedback

One of the easiest ways to find out whether a name will work for the enterprise or not is by asking for feedback from the people outside the business circle. This can be done through social media campaigns or survey.

The process of selecting an appropriate name for the business involves various factors. An entrepreneur should consider all these parameters and choose a name that justifies the vision and mission of the business without compromising on its originality and appeal.

However, to establish a successful business, it needs more than just a perfect planning. Know the deep insights that can help you establish a profitable business with our Everything about Entrepreneurship. To know more about it, visit: https://www.badabusiness.com/?ref_code=ArticlesLeads.

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Govt. of India Free Online Learning Program for Start-Ups

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The Govt. of India initiative known as Start-up India is offering new businesses an incredible opportunity to learn the ways to establish, strengthen and grow their business. Its learning program is enabling thousands of startups to learn the skills to make their companies last for the long run in the highly-competitive market.

What is Start-up India Learning Program?

Start-up India, an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Govt. of India, provides a free online learning program for entrepreneurs. The motto of this initiative is to take start-ups of India to the next level with the help of structured learning.

Who initiated the program?

Start-up India scheme is an initiative by the Government of India that has been helping newly-started businesses to establish themselves in various ways. These include measures such as setting-up online portal and hubs to enable registration, grievance-handling, etc., and increasing the pace at which government procedures such as patent acquisition and registrations are done. The online portal of Start-up India has over 4 lakh users. Start-up India loan, another part of the initiative helps women entrepreneurs along with other underprivileged sections of the society such as SCs and STs with financing.

What does the program offer to aspirants?

The program consisting of 69 courses offers small and medium business enterprises with scope to boost their knowledge in a vast field of various business aspects such as technology, sales, security, management, and finance. It takes the learners on a journey of how the top 40+ founders of India started their businesses.

How can one register?

One can register for the 4-week training program by registering for it on the online platform of Startup India. The course aspirants have to fill a form asking for details such as name, email id, phone number, etc. along with the language they wish to pursue the program in.

Operating on a similar motto to make the country’s start-ups, SMEs and MSMEs reach another level of success through organized learning, Bada Business offers courses for companies, professionals, and students. Their Problem-Solving Courses namely “How to Start a Start-up” and “How to Scale a start-up” guide start-ups through the process of establishing and bringing growth to their business. Visit their website https://bit.ly/3c1ZyxT

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Founded by IIT alumni, this Indian Startup bagged Rs 130-crore deal with the Indian Army!

drones for indian army

The Indian army has signed a contract of $ 20 million with IdeaForge to procure high-altitude drones in undisclosed quantities. The SWITCH Unmanned Air Vehicles will be delivered over 12 months.

After IdeaForge emerged as the only vendor to successfully qualify the operational requirements for fast-track procurement, the Indian Army awarded the contract to this Indian startup for a high-altitude variant of its SWITCH Unmanned Air Vehicles- UAV.

The deal not only signifies the strategic shift in the acquirement process of the Indian Army, but has also cemented IdeaForge`s position as the largest manufacturer of Indian drones for defense and homeland security, and industrial applications.

What is SWITCH UAV?

A SWITCH UAV is a first-of-its-kind fixed-wing hybrid Unmanned Aerial Vehicle. It features higher safety, advanced flight time, and simple operation with additional fail-safe redundancies.

This innovative drone technology can be used for long-duration operations, security, long-endurance surveillance and security, photogrammetry, and inspection.

IdeaForge, the company that has bagged the Rs 130-crore deal has beaten the top Israeli and other Indian drone manufacturers.  It was founded by the four alumni of the Indian Institute of Technology (IIT Bombay)- Rahul Singh, Ankit Mehta, Vipul Joshi, and Ashish Bhat.

The Indian startup came into existence in 2007, at the Society for Innovation & Entrepreneurship (SINE). Initially, they started with building hand-cranked chargers, the enterprise soon shifted their focus towards building a hovercraft. This was the beginning of their venture into the drone manufacturing market.

Mumbai-based IdeaForge is a licensed manufacturer of Unmanned Air Vehicles (UAV) approved by the Ministry of Defence. The company currently offers seven UAVs that are used in a range of applications including traffic management, mapping, surveillance, security, and crowd management. Some of the drones manufactured by them are already in use by the armed forces.

“SWITCH UAV is the culmination of insights and knowledge the company has gained over years of experience in helping the Indian forces operationalize UAVs in their ranks”, said Founder and CEO of IdeaForge Ankit Mehta on the development of UAV.

“Our products are designed like a bird and tested like a tank. It is the only product that surpassed the stringent standards and product trials and surpassed expectations of the Indian Army”, he further added.

Refrence https://www.hindustantimes.com/cities/mumbai-news/iitbombays-firm-bags-deal-to-supply-drones-for-indian-army-101610652453456-amp.html?__twitter_impression=true

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Start-Up Ideas: Here are 5 Businesses You Can Establish and Run Under Rs 20,000

Business Ideas| Representative Image (Photo Credits: Pixabay)
Business Ideas | Representative Image (Photo Credits: Pixabay)

As the start-up ecosystem in the country is blooming, more and more individuals are looking to establish and run a business of their own. They are quitting their secured and salaried jobs and venturing into a world of uncertainties yet extremely rewarding Start-Ups. The start-up mania is not only restricted to the larger places in the country, many highly talented and skilled people from tier – I and tier-II cities and even rural areas are planning to start their own business.  One of the most important criteria while making the decision about establishing a start-up is the availability of funds. How to Start a Coffee Stall Business Under Rs. 20000.

Many start-ups find it difficult to survive in their initial days owing to shortage of funds or irregularities in funding. Some of the people who want to start their own business also give up on their dreams owning to lack of adequate funds. However, there are certain businesses which can be started without much investment. Here are 5  start-up ideas to establish and run business under Rs 20,000

Bakery 

If you have a knack for baking delicious and mouth watering cakes, cookies, pancakes, chocolates among others, starting a bakery is the perfect idea. Home-made food items are especially bakery items are in huge demand. More and more people are avoiding ordering cakes from commercial bakeries and looking for home made alternatives. Opening a bakery is a perfect low cost idea for people looking to start business below Rs 20,000.

Ice-Cream Palour 

Another food related business idea which is low cost as well is to a ice-cream palour. You do not need an elaborate  or lavish set-up to start the business at least. One can place the order on credit with any supplier. The initial investment requires a good refrigerator and a little advertising about the launch of the shop and wait for the inflow of customers. February 2021 Shubh Muhurat Dates: Lay foundation for New Business venture on these auspicious dates.
Candle Making 

Different varieties of candles are very much in demand. They are used to give as gifts, mementos, saviours among others. Various scented candles are highly popular these days. A bit of creativity and artistry is all what you need to have to start this low cost and investment business.

Pottery Articles 

These are people are moving towards more eco-friendly products. The demand of pottery products is increasing. It is an extremely low cost business idea to start any time. All of new to have is some mud, a potter’s wheel and knowledge of pottery making.

Pet-Care Centre 

If you are found of pets and like to spend time with them, then you can start a pet care centre. If does not require much investment just a spacious arena and few facilities. It is extremely well paying as more and more pet owners look for well equipped and furnished set-up  for their beloved pets.

These are some business ideas which you can undertake to establish and run the business successfully without any hurdles and without worrying about the sources and regularity of funds.

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Amazon Partners With Startup India and Others To Help Startups Reach Global Audiences; Here’s All You Need To Know About the Startup Accelerator Programme

Business Ideas

In a bid to help early-stage startups take their brands to global audiences, Amazon has partnered with Startup India, Sequoia Capital India and Fireside Ventures. The collaboration, announced on January 19, will launch an accelerator programme to help and guide the startups. As part of the Startup Accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, VCs and senior leaders from Startup India. The application process will be open for about three weeks, following which 10 startups would be chosen for the accelerator.

Here’s How the startups will benefit from the Startup Accelerator

  1. Amazon will provide the support for these startups to launch their products worldwide through its exports programme – Amazon Global Selling.
  2. These startups will then get an opportunity to showcase their business proposition to partner VC firms – Sequoia Capital India and Fireside Ventures and three of them will get a chance to win a total equity free grant of USD 50,000 from Amazon.
  3. Amazon will also host open virtual mentorship sessions focused on peer learning by inviting veteran entrepreneurs and members from its mentorship board for startups, to network and learn from their existing ecosystem.
  4. Abhijit Kamra, Director – Global Trade at Amazon India, said that the programme will feature a six-week 1:1 mentorship module for the shortlisted participants where they will get to interact with Amazon leaders from India and worldwide and get firsthand knowledge on building and scaling up exports business through e-commerce.

The Amazon Global Selling Propel (AGSP) programme has been designed to support early stage startups (raised funding in post seed to pre-series A stage, if funded) in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling programme.

Deepak Bagla, MD and CEO of Invest India, said that the adoption of technology and digital transformation has paved the way for India to be at the forefront of innovation, giving rise to some of the best startups in the world. He said there are many promising, emerging brands that have the capability to become big and go global. Bagla said that his is a timely initiative by Amazon which can prove to be a big stepping stone for startups to build their business and get access to global markets.

Launched in 2015 with about 100 exporters, Amazon Global Selling today enables more than 70,000 Indian exporters to sell ”Made in India” products through its 15 international websites and reach customers in countries such as the US, the UK, UAE, Canada, Mexico, Germany, Italy, France, Spain, Netherlands, Turkey, Brazil, Japan, Australia and Singapore.