Short Takes

Short Takes

Indian start-ups get FDI policy boost[caption id="attachment_11281" align="alignleft" width="227"]

Indian start-ups get FDI policy boost[/caption]A new consolidated foreign direct investment (FDI) policy framework issued by the Indian government this week includes provisions specific to start-ups which is being seen as a major boost for the sector.According to the 2017 FDI policy document released by the Department of Industrial Policy and Promotion (DIPP), start-ups in India can raise up to 100 per cent of funds from Foreign Venture Capital Investors (FVCIs). They can issue equity or equity-linked instruments or debt instruments to FVCIs against the receipt of foreign remittance.The document reads: "Startups can issue convertible notes to persons resident outside India (subject to certain conditions).“A start-up engaged in a sector where foreign investment requires government approval may issue convertible notes to a non-resident only with approval of the government."Foreign residents, except those in Pakistan and Bangladesh, will be permitted to purchase convertible notes issued by an Indian start-up.Google in Made in India plan

Google India has announced its 'Made in India' initiative for building high quality products “for India by India”.The company said that starting now, Indian developers can apply for a chance to have apps specifically optimised for the Indian market, showcased on the Google Play store in India in a special section.Purnima Kochikar, Director, Business Development, Games & Applications, Google Play, said: “At Google Play, we are committed to helping Indian developers of all sizes seize this opportunity and build successful, locally relevant businesses.“A lot of what we do at Google Play is support developers' imaginations and make Android consumers aware of the amazing new experiences our developers are creating.”At its first ever App Excellence Summit this week, Google said it has brought together over 700 Indian app and games developers and shared tips and tools to help developers create the best quality Android apps that are locally relevant.Canadian Solar in 25-year India planCanadian Solar has signed 25-year power purchase agreements for an aggregate 80MW of solar power projects in the Indian state of Maharashtra with the Solar Energy Corporation of India (SECI).Canadian Solar, which continues its downstream progress, was originally awarded the projects via a competitive auction for a total of 450MW capacity. The benchmark tariff was set at INR4.43/kWh (US$0.066) and the firm bid for viability gap funding (VGF) support of INR1.999 million/MW (US$30,379).These projects are due to start operations by late 2017.Shawn Qu, chairman and chief executive of Canadian Solar, said: “We are pleased to secure our first 80MW of solar power projects with SECI, a bankable and reputable off-taker operating under the Government of India.“This investment adds to our India pipeline that stands at 110MW and represents a significant milestone for Canadian Solar in one of world′s fastest growing renewables markets."The company is a vertically-integrated manufacturer of silicon ingots, wafers and PV cells and modules.Israel offers help to clean Ganga

Israel has offered its expertise in water management and help with the ambitious Ganga cleaning project.Israel's water management, desalination and recycling techniques, which helped it overcome a water crisis following years of drought, have been emulated by several countries. Israel has also set a template for reusing wastewater for irrigation. It treats 80 per cent of its domestic wastewater, which is recycled for agricultural use, and nearly 50 per cent of the total water used for agriculture.In July, Israeli officials met their counterparts in the Indian Ministry for Water Resources, River Development and Ganga Rejuvenation, headed by Uma Bharti, to offer help in water conservation and the Ganga cleaning programme.A delegation of experts from Israel will be back in India in August to assess the areas of Ganga cleaning that the country can contribute to.“The advantage we have is that we have a wide range of solutions for problems; there are specific problems in different States and our experts have solutions. We are pushing for more government-to-government agreements,” a spokesperson for the Israeli embassy in New Delhi said.Oracle backs India's cloud drive

Oracle has launched its first Digital Hub in Bengaluru, which will provide small and mid-size businesses (SMBs) access to the cloud solutions and resources they need to power digital transformation.The new facility, one of the five Digital Hubs set to open in Asia Pacific, highlights Oracle′s commitment to better serving the midsize market in the new cloud economy. India′s new Digital Hub, part of a global network of best practice centres for SMBs, will help small and midsize businesses leverage Oracle Cloud solutions to streamline operations, boost innovation and gain a platform for growth.The hub will house Oracle′s new digital sales team and focus on helping more midsize organisations transition to the cloud quickly and easily. With a distinctive Indian feel, and exuding the energy of a start-up, the team will provide timely, personalised and effective support to customers, using the latest collaboration tools, techniques and technologies to transform the buying experience.François Lançon, Senior VP, Oracle Japan and Asia Pacific, said: "The cloud is democratising IT; you just need a web browser or a mobile phone app to take advantage of it. What′s more, it has incredible transformation potential for small businesses, enabling them to do things they have never been able to do before, at an affordable price, such as use technology to streamline business processes, gain access to an easy-to-use platform for innovation, and digitise their customer experience.”Polish tech firm expands in India

Poland-based global ad tech company RTB House has decided to expand its operations in India.The move follows a record-breaking 2016 for the company, which saw it increase its workforce and revenue and also launch operations in Australia and New Zealand.Jakub Ratajczak, Managing Director for the Asia-Pacific region, said: "The Indian digital economy has the potential to become the world′s third largest within the next decade. E-businesses will grow manifold and will require our innovative digital marketing solutions in order to tap into the next billion digital natives."RTB House has developed and implemented its own proprietary technology for purchasing advertisements in the RTB model (real-time bidding) - where buyers participate in real-time advertising space auctions.The firm also appointed Kshitiz Randhir Shori as its new Country Manager for India.

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