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Kerala Government’s NORKA-Pravasi Start-Up Scheme Helped 4,179 Expatriates to Establish Business in the State

Start-Up| Representational Image (Photo Credits: Pixabay)
Start-Up| Representational Image (Photo Credits: Pixabay)

The Non-Resident Keralite Affairs (NORKA)-led Pravasi Start-Up Scheme launched by the state government in Kerala has proven to be a boon to the start-up ecosystem in the state. The scheme has been able to create 4,179 expatriate entrepreneurs over the last five years. It was introduced with the aim to rehabilitate expatriates in Kerala who can contribute to the economic development of the state according to their professional skills. Prarambha: Everything you must know about the Startup India International Summit!

Over the last five years, the Kerala government has sanctioned Rs 220.37 Crore for the start-up projects initiated by citizens in Kerala, who have returned to the state after spending a lot time abroad. During the last financial year 2019-20, 1,043 entrepreneurs were sanctioned Rs 53.40 Crore under this scheme. “Since the LDF government came to power, this government has distributed 45.21 Crore as subsidy to 2,895 entrepreneurs till November 2020,” said NORKA Chairman and senior leader of CPM, K Varadarajan during a media briefing.Tech Startups in India Report Nearly 10% Growth in 2020 Despite COVID-19 Pandemic, Over 1,600 Tech Startups Added in a Year: Nasscom.

Under the Non-Resident Keralite Affairs (NORKA)-led Pravasi Start-Up Scheme, loans up to Rs 30 Lakh with a capital subsidy of 15 per cent (Subject to a maximum of Rs 3 Lakh), are available for start-ups by expatriates who have returned to the state after working for a minimum 2 years in a foreign country. It also offers a 3 per cent interest rebate for the first four years for those who pay the interest on time. Kerala Bank, Canara Bank and the Travancore Pravasi Development Cooperative Society are some of the financial institutions which provide loans to under the provisions of the scheme.

It was started as a joint venture between NORKA and the Kerala Startup Mission to create self-employment opportunities for Pravasis who return to the state from foreign countries and who are looking forward to start their own business. Under the scheme, NORKA undertakes field camps for easier distribution loans and increased reach. It also aims to provide loans in a single day. Seven camps were conducted during 2019-2020 and around 500 expatriates benefited from these camps.

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Startup

Prarambha: Everything you must know about the Startup India International Summit!

startup india

New Year brings new opportunities as the Department of Industry & Internal Trade  (DPIIT) is set to host “Prarambh”- the Startup India International Summit on the 15th & 16th of January 2021 in a virtual format.

The summit, which is likely to be addressed by the Hon`ble Prime Minister of India will also mark the 5th Anniversary of “Startup India’ which was launched on 16th, January 2021.

This startup India program has not only brought the entire concept under the limelight but also accelerated the entire Indian startup ecosystem to expand. It has also motivated Indian entrepreneurs to build innovative solutions for domestic and international needs.

The significance of the startup India international summit 2021- Prarambh is such that even the Prime Minister of India has urged the youngsters to join the summit. In his latest post shared on the social networking site LinkedIn, he emphasized the work-from-home culture that has become the new normal during the lockdown, courtesy to COVID 19 global pandemic.

“With most of the events held virtually, it has given a golden chance to all the youngsters to be a part of many interesting domestic as well as global forums. Prarambha is also one such opportunity that is coming up on 15-16 January. I urge our youth to be a part of it”, he further added.

The summit aims to bring together the sharpest minds from distinct industries, investment, academia, finance, and banking along with young start-up leaders on a common platform. Its main goal is to inspire the youth and encourage innovation and entrepreneurship.

As the event will be held online, anyone can join the event without having to travel anywhere.

The spirit of India`s youth is unmatched. The curiosity to come up with innovative ideas has led to outstanding results. Our start-up heroes not only coming from big cities but also hail from smaller cities, which is a good sign, he added.

Here is how to register for the startup India international summit 2021:

  • Interested youngsters can visit the official site https://www.theprarambh.in to register for the event.
  • Fill in the required details (name, address, e-mail id, sector, city, state, country).
  • Submit the details and click on ‘Register Now’.

To get more details about panelists, speakers, partners & agenda associated with Startup India International Summit, check the official website: www.theprarambh.in

Join Everything about Entrepreneurship Course and arm your start-up idea with the right tools and see the possibilities grow. Visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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How this Gaming Startup Raised $10 Million funding from WestCap Group

zupee startup

Backed by Matrix Partners India, skills-based online gaming platform Zupee has raised $10 million funding in a second-round which was led by WestCap Group, a US-based growth equity firm. The existing investment partner Matrix Partners India also took part in it.
With this second round of funding by existing investors, Zupee has managed to raise a total of $19 million, as the firm had received funding of $8 million in April 2020. The firm that runs live quiz tournaments on its app where the users can win cash prizes has other investors like Smile Group, Venture Partners, Orios, and Falcon Edge Capital among its investors.

Founded in 2018, by IIT Kanpur graduates, Siddhant Saurabh and Dilsher Singh Malhi, Zupee offers more than 2,000 live quiz-tournaments on a diverse range of topics that includes sports, movies, mathematics, spellings, and general interest topics on their smartphones.

Following the latest round of funding, Zupee plans to use the funds to expand its market reach, scale its platform, build a stronger team, and provide an improved user experience. The company is also planning to launch its product in several other languages in the future.
“We have driven an exponential month-on-month growth this year. This fresh round of funding enables us to accelerate our scaling efforts,” said CEO and co-founder Dilsher Singh Malhi.

“The year of 2020 witnessed the rise of online gaming truly in India at a great momentum, and Zupee’s accelerated growth is a clear testament to the growing trend,” Tarun Davda, managing director at Matrix India, said.

Despite an uncertain regulatory landscape in India, the skill-based gaming segment has attracted a lot of funding in India. In the past couple of years, online gaming platforms like Mobile Premier League, Dream11, and Winzo gained popularity. While MPL raised $90 million led by SIG, Dream11`s valuation was raised to $2.5 billion after receiving funds from Tiger Global, Chrys Capital, FootPath Ventures, and TPG Tech Adjacencies in 2020.

Do you also have a unique idea to come up with your start-up? Then here’s how you can learn everything you need to know and achieve success in your entrepreneurial journey.
Join Everything about Entrepreneurship Course and arm your start-up idea with the right tools and see the possibilities grow. Visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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PM Narendra Modi Urges Youngsters To Join ‘Prarambh’, the Startup India International Summit on January 15-16; Here’s How To Register Online

Startups (Photo Credits: Unsplash)

Prime Minister Narendra Modi has called upon youngsters of India to attend ‘Prarambh’, the Startup India international summit on January 15 and 16. The Prime Minister asserted that the summit seeks to bring together top minds from industry, academia, investment, banking and finance besides young start up leaders. Taking to Twitter, the Prime Minister shared his LinkedIn post in which he noted that virtual interactions have become the new normal during the COVID-19 pandemic and said a big advantage of this is that people can be a part of programmes sitting at home. “With most events being held virtually, it has given a great opportunity for youngsters to be a part of many interesting domestic & global forums. One such opportunity is coming up in the form of Prarambh on 15-16 Jan. I urge our youth to be a part of it,” Modi tweeted on Monday.

Referring to the ‘Prarambh’ summit, the prime minister said India would also be marking five years since the Startup India initiative began. He said that this initiative has propelled India to being among the most attractive start-up eco-systems globally. Lauding the capabilities of the youths in India, the Prime Minister said that no words can do justice to the spirit of India’s youth. “Their penchant for innovation has led to outstanding results. Our start-up heroes are not merely coming from big cities but also from smaller towns. This is a good sign,” he added

Talking about the work from home opportunities, the Prime Minister noted and said work from home is in, so is greater adapting to technology. “For me, it meant more programmes online, which were extremely productive and insightful. There were interactions with scientists, medical professionals, COVID warriors, academics, industry leaders, young innovators, spiritual leaders and more,” Modi said.

The Prime Minister added that there were virtual summits, both bilaterals and multilaterals with world leaders, he noted, adding that “path-breaking” development schemes were launched through public events organised digitally.

About Prarambh:

‘Prarambh’ – Startup India International Summit – on 15 and 16 January 2021 in a virtual format. It will be organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. ‘Prarambh’ means ‘an auspicious beginning’. As a verb, it implies ‘to start’.

The idea is to attain attention of global capital for startups in India, mobilize domestic capital, provide opportunities for accessing international markets to our startups and evolve enabling policy provisions.  The first day of the Summit has been devoted to host dignitaries and stakeholders from BIMSTEC member States. The day will witness participation of renowned stakeholders from startup communities of BIMSTEC member states engaging in multilateral discussions and showcasing best of their innovations.

Here’s How You Can Register for the Prarambh Summit:

  1. Youngsters can registered themselves on the official site i.e. https://www.theprarambh.in
  2. Click on ‘Register Now’ at the top of the page and fill in all the details that have been asked.
  3. Enter details like your name, address, email-id, sector, select country and state, city and category and then click on ‘Submit’.
  4. Youngsters can check the official website as it has all the details of the 2-day Start-up India International Summit.

The main objectives of the Prarambh Summit are given below:

  • Encouraging and inspiring the youth for innovation and entrepreneurship
  • Exchange knowledge on best practices on nurturing startup ecosystems
  • Develop capacities of entrepreneurial ecosystem
  • Mobilize global and domestic capital for investments into startups
  • Provide opportunities to startups for entering domestic (private and public) and international markets
  • Showcasing high-quality, high technology and frugal innovations from India
  • Enable ease of doing business for startups and investors.

The who’s who of the Indian as well as global Startup ecosystem are making a beeline for this event. Please mark this date for a marathon of in-depth knowledge sessions and exchange of global ideas! Prarambh is expected to bring together top policy makers, industry, academia, investors, startups and all stakeholders from across the globe. In addition to deliberating on good practices from best of the ecosystems across the world, the sessions of the Summit are designed to showcase the spread and depth of entrepreneurship based on innovation in India.

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Startup

Tiding Over Times: 3 Things Indian Start-ups should be prepared for Post COVID World

startups

With nations imposing the complete lockdown to protect their citizens, the global pandemic of COVID 19 brought the wheel of economic growth to a halt. The businesses have been stalled, supply chains are disturbed and the global trade has been thwarted.

According to a Nasscom report that included 250 start-ups in India, ’90% of them are facing a decline in revenue. 70% of them are struggling with cash reserves, while 30-40% start-ups are in the process of shutting down either temporarily or permanently’.

However, for many, the difficult part of the pandemic is its uncertainty that has made many startup founders quite anxious. Here are 3 things that Indian start-up should do to succeed in post COVID world:

Look for New Opportunities

‘Success is not changing reality; it is the mentality behind the reality’. A crisis is nothing but an opportunity in disguise. Hence, keep your eyes open and look for new business opportunities. Research on current market trends and evaluate your product accordingly. This will help entrepreneurs to understand the changed customer behavior, and infuse innovation into their business strategy.

Create a Concrete Business Strategy

Accepting the reality and working according to it is the need of the hour. Hence, every startup owner should have straight conversations with your co-founders and investors will help you analyze the company`s health. Conserve funds, create a business plan, test every future assumption, and keep the dialogue open.

Indian Startups should Focus on building a remote team
Due to the pandemic, most of the companies have given their employees work-from-home. This will ensure the physical and mental well-being of every employee, and also reduces the chances of infection. However, it is important to stay connected with your employees to keep their morale up. Hence, be transparent about your plan and connect with them through daily or weekly calls.

The easy days ahead of you will remain easy, it is the challenging times that test your strength to the very core. You will be defined not just by how much you achieved, but by how you survived in the tough times.
The above-mentioned factors must be taken into consideration by startups after Covid to survive. If you have other business problems that you are stuck with, you can find a solution with our Problem Solving Courses. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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4 Business Ideas for College Students to Earn Money & Be Financially Independent

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

The time spent in college gives a great opportunity for young adults to explore different aspects of the life and understand the how the world works. It prepares them to enter the real world, witness the struggles and succeed. Financial stability and independence is of the most crucial aspect of any adult. Earning money is a necessity. College provides enough time for young adults for learning and developing some entrepreneurial skills. So wouldn’t it be beneficial for college students to get some experience of entrepreneurship and economic activities? 3 Start-up Challenges Every Entrepreneur Must Overcome.

Another important advantage of working during the college days is that it adds to the resume, and provides the student an edge over others with some work experience. Besides, college students are always looking for some extra source of income to fill in the hole in their pockets and fulfill all their wants. Here are some business ideas for college students to earn some additional money –

Tuition Classes

One of easiest businesses for college students to start is tuition classes. One can give offline or online classes to his juniors. These days various apps and websites offer lucrative compensation to young adults for teaching students on their platform. It has a dual benefit, firstly it provides for a regular source of income and secondly it helps the college students to be in touch with the previous education and brush up important concepts. 3 Offbeat Career Paths: How Millennials are breaking the monotony of 9 to 5 jobs!

Freelance Content Writing

Another way for college students to earn money is by doing freelance content writing. As more and more businesses and other institutions are coming online, various agencies are looking for content creators and writers to write for the digital platforms. Mostly these agencies hire people on freelance basis and pay them per articles submitted. It requires a bit of background research that adds to the knowledge of the students. Also, it offers flexible working hours. Students can research, write and submit after their classes and earn money.

Vlogging

A highly popular business idea among college students is creating videos or vlogging. All one has to do is create a channel of any video sharing platform- YouTube , Vimeo etc and start putting up videos. Students can create videos on a number of issues, including comedy, entertainment, singing, education among others. It also helps the student to polish her talents and get the much required exposure.

Hobby Classes

Another idea to earn money at the same time harbour one’s talent is by offering hobby classes. Students can give classes in singing, drawing, painting, Yoga, swimming, calligraphy and any other talent they possess and want to promote.  It will keep the students close to their talents and passions even amid hectic college routine and will provide an opportunity to earn some additional pocket money while doing what you like.

College is a great time to explore and learn. Getting a source of earning and managing finances will be advantageous for the students to further get some real life experience and fulfill their needs. Being financially independent also boosts the confidence and the morale of the students.

 

 

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Tech Startups in India Report Nearly 10% Growth in 2020 Despite COVID-19 Pandemic, Over 1,600 Tech Startups Added in a Year: Nasscom

Tech Startups in India (Photo Credits: Pexels)

New Delhi, January 8: Tech startups in India have witnessed a steady growth in 2020 with over 1,600 tech start-ups and a record number of 12 additional unicorns added in a single year. i.e. in 2020. This is the highest ever in a single calendar year. The tech start-up base in the country witnessed a steady growth at a scale of 8-10 per cent (year-on-year), Nasscom said. According to the annual report by Nasscom in partnership with a global management and strategy consulting firm Zinnov, nearly 14 percent of total investments in 2020 were in deep-tech start-ups, up from 11 per cent in 2019. The report said that further, 87 percent of all deep-tech investments were in AI/ML start-ups and seed-stage funding in 2020 recovered to more than 90 percent of 2019 levels.

Debjani Ghosh, President, Nasscom said with the continued addition of new start-ups, booming unicorns and increased adoption of deep-tech, the ecosystem shows an even more promising future. The report informed that despite a lower number of total start-up deals in 2020, seed-stage investments are recovering at a good pace as investor activity at lower ticket sizes has increased.  “Early and Late-stage investments are also recovering steadily. An increase in median deal size is further underscoring investor confidence and a willingness to take big bets,” the report added.

The Nasscom annual report further added saying that the sectors with COVID-19 tailwinds such as EdTech, BFSI, AgriTech, Gaming, etc., are witnessing a steady increase in first time funding, up from 29 percent in 2019 to 42 percent in 2020, garnering a 14 percent growth in absolute numbers. It added that the investor sentiment is also recovering with the second half of 2020 funding up by two times over the first half. “2021 will be the ‘Decade of Collaboration’ where entrepreneurs engaging more with not just their peers but also with the government, corporates, and the manufacturing ecosystem, will catapult India’s dreams of becoming a trillion-dollar economy,” said Pari Natarajan, CEO, Zinnov.

The report said 2021 promises a return to normalcy for the Indian tech start-up ecosystem. In terms of total unicorns, India is on track to have a 50-plus strong Unicorn club in 2021. Remote working continues to see significant adoption amongst tech start-ups, with around 30-35 percent offering remote roles and 15-20 percent companies having committed to remote work culture, as per NASSCOM tech start-up survey. “Deep-tech and new start-up hubs will continue to grow at 40-45 percent CAGR. While the investments in 2020 were significantly lower than in 2019, recovery in deal pace and investments is expected to return to 2019 levels, if not exceed in 2021,” the report noted.

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3 Start-up Challenges Every Entrepreneur Must Overcome

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From a handful of tech companies to thousands of new ventures, India`s start-up ecosystem has come a long way in the past decade.

According to the report published by NASSCOM, ‘India ranks 3rd globally, with more than 4,200 start-ups, creating more than 80,000 jobs’. The Indian start-up ecosystem remained stable in 2018 and 2019 in terms of funding and investor interest.

Though the global pandemic changed the entire game completely in 2020, by 2025, the number of startups is expected to cross 100K. More than 3.25 million job opportunities will be created in the market.

Although the idea of having a start-up business sounds appealing, entrepreneurs face many challenges in today`s world. However, overcoming these challenges can provide creative solutions to operate the business successfully.

Here is a list of startup challenges that every entrepreneur faces and must overcome in India:

Cash-Flow Management

Getting funds for your business is one of the major startup challenges that every entrepreneur faces. Finding the right amount and kind of investment in a fresh new sector is difficult in the early stages of a start-up.

Steady cash-flow is essential for the survival of the business, thus you always need to have extra funds to take care of the rainy days. Proper planning and financial plan are critical for the survival of the business. Hence, always ensure you have a well-prepared strategy ahead of time.

Marketing Strategy

One of the biggest startup challenges in India is the absence of a good marketing strategy. Many entrepreneurs think their business can thrive on word-of-mouth. However, the truth is far from a cry. If you want to expand your customer reach, you will have to find creative ways to do that.

Thanks to multiple social media platforms, there are ample opportunities to find the right audience even with minimum investment. Shifting your business from offline to online will improve your brand`s presence and increase your customer base.

Lack of Right Guidance

One wrong turn can take you away from your destination. Thus, the right guidance from the right person can do wonders for your business. The right mentor can prepare entrepreneurs for future challenges and can help them navigate through their experiences.

Though business networking can add up to the contact list, people who have experienced failures on the same journey would always add value.

These startup challenges are faced by almost every entrepreneur in the early stages of the business. But with the right guidance, you can take your business in the right direction.

You can learn to overcome these challenges with industry experts. Discover their Secret Mantra with the help of 600 business templates, checklists, and tools to run your business efficiently. Our Problem Solving Courses can help you overcome any business challenge. Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads to know more.

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Women Entrepreneurship Cell Launched by Maharashtra Govt to Boost Female Engagement in Startups

Women Entrepreneurs in India (Photo Credits: Pixabay)

In a bid to give a major boost to women entrepreneurship in Maharashtra, the state government has announced of establishing of a woman entrepreneurship cell. The special cell that has been launched will work towards enhancing, guiding and training the female entrepreneurs in startups and different entrepreneurship-related sectors. The news was announced by Maharashtra Employment and Entrepreneurship Minister Nawab Malik. The cell is established to improve the innovation-driven entrepreneurship ecosystem in Maharashtra.

The Minister said that there will now be a “Girl-Student Entrepreneurship Club” at schools and universities levels. In these clubs, appropriate coaching will be given to college students who aspire to be budding entrepreneurs in their career. Further, it’ll additionally create incubators for women entrepreneurs and will help them in organising accelerated packages. The Minister further added that the monetary help might be supplied to start-ups established by these women entrepreneurs.

In December, the state government of Maharashtra decided to provide financial assistance to innovative startups which wish to file for patents. Malik had said that in the first phase of the scheme, 125 to 150 startups will be supported with financial assistance of Rs 2 lakh to Rs 10 lakh. He said in order to survive in a competitive world, it is important for startups and early-stage entrepreneurs to protect their Intellectual Property Rights (IPR).

 

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Home Business Ideas: 4 Brilliant Work From Home Ideas That You Should Consider Taking Up

Home Business Ideas (Photo Credits: Pexels)

At a time when the world is battling the coronavirus pandemic, people have been forced to work from hone than ever. Whiles some are working remotely, some have started their own small businesses amid the crisis. Staying productive and maintaining a balance between professional and personal life is the only way out to survive the crisis. Amid the crisis, employers are encouraging or requiring people to work from home for an indeterminate amount of time. If you are planning to start a home-based business, you need to first understand what interests you and what you are good at!

Remember, a business will survive if there is a need of your product in the market. The struggle comes when you have to create a demand for your product, which takes a great deal of time, efforts and funding. Of course, there are pros and cons to consider when deciding whether a home-based business is right for you. If you’re new to the work-from-home lifestyle, you will have to change some of your routine habits to make working from home a success.

Buy products in bulk to sell

If you want to start with a small business, this hack can work wonders! Amid the pandemic and COVID-19 restrictions, people avoid venturing out to buy things. If you have good contacts, you can buy products in bulk and sell them in your circle, neighbourhood and among your pals. These products can be really simple ones, like cups, mugs, coasters or maybe other daily essential items. Maybe you know of some unique products that aren’t readily available in your market despite a demand for them.

Sell homemade products

Be your own boss and sell what you make. There is no other joy that creating something of your own and selling your own handmade products. If you are the maker yourself, you can consider turning your hobby into a business. If you like making candles, cushion covers, curtains, dresses, or anything else, you can create your products and make it commercial. You can also sell gift baskets, handmade jewellery, sweets, homemade cookies, personalized gifts, etc. The only thing you should focus on is to promote and make it reach large audience via social media. As home business idea, there are plenty of opportunities for designers to create and sell their own clothing from home.

Baker

If you enjoy cooking, especially baking, and you can spend a great deal of time baking in order to create enough goods to sell, taking up baking as a profession is meant for you! It is rewarding which fetches you decent income. With too much competition in the market, it is tough to stand out in the crowd. To take up baking business, buy some equipment and set up a commercial kitchen at home. You can sell your products to local shops or businesses or sell products online. Read up on regulations to be compliant!

Freelance Writer

If you are fond of writing and can play with words, it has huge potential to be one of the most profitable business ideas. Freelance writing is the perfect job for people planning to set up their own blog or digital content firm. You don’t need any formal training to become a freelance writer.