Why India Is Lacking Behind In The Race Of AI Startups – Tech Startup News

Despite India being among the top 15 countries in terms of AI study, the technology news today suggests that it lacks way behind in the competition. Why?

The growth of Artificial Intelligence over India has maintained pace with the global expansion of the technology. Tech Startup News suggests that while distinct nations such as China and the US have centered their energies on seizing as large a business share of Artificial Intelligence as possible, India startups have focused on becoming an experimental space to explore the potential applications of artificial intelligence and machine learning.

A survey by Finnish AI-based solutions specialists Zyfra suggests that India is among the top 15 countries in terms of AI study. Another research says that India leads in the number of engineering and science graduates. Yet the Technology News Today is that the country provides very basic and lower-end services, acting as big obstruction in AI Startups Growth. Why is that?

Technology News Today is mostly filled with the hype of AI. It's everywhere and so is the publicity around it. Deficiency of substance with teams, struggle in understanding the concept and its evaluation, lack of talent, lack of entrepreneurial experience, competition from other AI startups, the list of obstructions is never-ending. The absence of a software development ecosystem for AI and regulations around it makes it difficult for entrepreneurs to launch their desired products in the market.

Above all, for investors in AI startups, their ultimate goal is to provide their consumers with something that is relevant to their needs. Thus, the focus is less on building the actual technology and more on the ability to run the business and profit-making.

             

Scaling up a startup is a tricky task. Not every person can crack the code and build the right product for the very first time. It requires the right recipe, an appropriate workforce, and a skilled mentor to attain the desired result.

Important Legal Requirements Every Startup Considers – Startup Funding News

Every startup is based on a unique idea. However, Startup Funding News recommends to get your legal requirements ready right at the first step. Here are some of the most important legal requirements every startup requires:

     1.    Protect Your IP (Intellectual Property) and Copyright:

Intellectual Property is considered as the most valuable asset to any new startup. So, It’s important to protect it lawfully. According to Startup funding news,  every startup is based on a scalable business model to offer a service, a product to the market. Whichever business you are, It’s important to protect your Intellectual Property.

According to Technology News , To protect your Intellectual property, apply for a patent, a copyright or a trademark through authorized government bodies. Be careful if you are using third-party content on your business as a copyright infringement can cause dire consequences in the legal spectrum.

     2.     Use a Non-Disclosure Agreement:

According to the startup funding news, NDA is a private agreement between two parties which means you don’t have to go to the government authorities for signing it.

Preparing, signing, and filing an NDA is a fast and easy process. While Technology News suggests not to force for a non-disclosure agreement as it may lead to lack of trust.

      3.    Evaluate Your Business Structure:

A better business structure helps in easy functioning. According to Technology News, The proprietary limited company (Pty Ltd) is another popular option for start-ups, especially those with multiple founders who need to pool resources and income. 

     4.    Partnership and Shareholder Documentation:

If one or more co-founders are there in your startup, you will need partnership agreement and shareholder in writing. Some of the points that should be included in the Partnership agreement are as follows:

• Percentage of ownership of each partner
• Ownership conditions
• Share purchasing rights
• Salary entitlements
• Partner roles
• Profit management

These are some of the most important legal requirements you need while launching your startup. Startup Funding News recommends preparing these legal requirements most essentially.

The Emerging Revolution of Tech Startups in India - Technology News Today

Tech Startups are on the verge of witnessing a boom in terms of growth and sustainability. With more than 4000 startups moving forward with an ambitious approach, India leads in adopting digital innovation by serving lot of consumers globally. According to Technology News Today, Global wealth management startups like Google pay, PayU are able to achieve profitability in FY 2019. With major contribution to the Indian economy, Indian Tech Startups are also eradicating employment problems within the skilled class. According to Tech Startup News, UPI crossed 1 billion transactions in FY 2019. The growing popularity of the startup ecosystem in India has attracted billions in venture capital (VC) funding. While more than half of the tech startups valued in billions (unicorn startups) are operating in the B2B spaces only.

As Fourth Industrial Revolution proceeds with full-steam, the grievous truth is that innovation will supplant a few employments – specialists propose the same number of as 40% of occupations around the globe will vanish in the following 15 years. Going through Technology News Today, we observed the risk of employment removal is particularly huge for nations like India, where a gigantic level of the populace is of working age and has a developing biological system of new companies.

As we get ready for the Fourth Industrial Revolution, the whole world must organize work creation and the retraining of the present workforce so as to get ready for the advanced age. As we witnessed daily Tech Startup News, Presently, one of every five working people says their expert abilities are not exceptional, as robots, AI, and Robotics multiply in the working environment.

In reality, as indicated by evaluation information, most by far (over 63% in 2011) of Indians are between the ages of 15-59. That is a monstrous measure of employments to both battles off what makes certain to be an approaching joblessness emergency, and to make new chances to carry youngsters into the workforce as depicted technology news today insights.

Luckily, there is an amazing weapon that can be sent to fill the hole: new companies. Lamentably, while India has accomplished fleeting development in the startup segment, as mentioned in technology news today – with 1,200 new businesses made in 2018 alone – an expected 90% of Indian new businesses will even now bomb inside their initial five years.

Know The Schemes Of Government Funding For Startups In India – Technology News

With the increasing number of startups in India, efforts are being made by the government to provide the necessary support for their growth and expansion.  If you are an entrepreneur, seeking funds to manage and grow your startup, know the following schemes of Government funding for Startups in India.  

According to Technology News, These are the following schemes for Government Funding for Startups in India.

     1.    Credit Guarantee Scheme (CGS)

One of the most popular Government funding for Startups in India, CGS offers collateral-free credit to micro-industries and business startups. This scheme covers low-interest rates with a maximum cover of 100 lakhs. As covered in Technology News, CGS runs under SIDBI (Small Industries Development Bank of India) which caters to strengthen and rehabilitate small businesses.

      2.    MUDRA Loan Scheme

Another example of Government Funding for startups in India is Micro Units Development and Refinance Agency Loan Scheme or MUDRA which provide funds to micro-units of small businesses. This scheme also offers a collateral-free line of credit. According to Technology News, These loans are designed according to the particular stage of business and funding needs of the loan seeker.

      3.    Stand up India Scheme

This particular Government Funding for Startups in India offers loans between Rs 10 lakhs to 1 crore to the manufacturing or services sector While Technology News also mentions - This scheme is launched to empower women entrepreneurs from backward castes like SC/ST.

     4.    Bank Credit Facilitation Scheme

This Government funding for Startups in India scheme is launched by NSIC to fund MSMEs in India. According to Technology News, The credit repayment period depends on the generation of income. It extends a repayment period of up to 11 years.

These are some of the Government Funding for Startups in India. According to Technology News, numerous startups eyes on Angel Investment and Venture Capital for their growth and expansion. If you are an entrepreneur looking for Government Funding, these above schemes can certainly help you.

Upcoming Startups In India - The Backbone Of India’s Future.

India faced serious unemployment problems in the past years. Upcoming startups in India are putting a ray of hope in creating new job opportunities for the Indian unemployed population. According to Technology News Today, An estimate of 2.3 million jobs will be created within the next 5 years. Currently, Technology Startups are leading the Startup era with a consolidated growth rate of 11-12% every year. The next big shift is for the retail sector with an expected growth rate of 5o% over a period of 5 years.

Venture Capital and Angel investments are benefitting the Indian economy in terms of growth of Upcoming Startups in India. Firms go through multiple rounds of series funding which is helping them to hire best talents in the country. According to Technology News today, Mergers and Acquisitions are helping companies to expand their market share by acquiring new capabilities. The best example comes from the acquisition of “Whatsapp” by the social network giant “Facebook”. Apart from tech startups, Educational tech startups are also booming on the edge with digitization in the near future. One such example is BYJu learning app.

With the growing popularity of the Internet revolution, India is the 2^nd largest smartphone market after the United States. The use of online mobile transactions is increasing rapidly. Major startups like Paytm, Freecharge, etc are covering the market exponentially. While upcoming startups in India are eyeing over the competition, This seems to emerge as an opportunity for entrepreneurs to cover the market in this domain. According to Technology News Today, there are emerging opportunities coming up in the domains of Big Data Analytics, Machine Learning, Healthcare, AR/VR, Education, IoT, and Blockchain Technologies

India is the home to more than 4000 startups to date. While more upcoming startups in India are geared up to face the rising competition and putting their ideas to work for the future. The rapid growth of Startups in India has led to forming the backbone of the Indian economy.

Startup Funding News – How To Raise Capital For Your Business?

Every business requires funds for functioning. 94% of startups fail in the first year of operations due to lack of funds. If you are following Startup Funding News recently, Startups are consistently putting an eye over competitors To raise funds for giving their business idea, an edge for growth and expansion. Business News has covered about different sources of finances, that are available, in case you want to raise funds for your business.

·         Bootstrapping Your Startup:

Another word for Bootstrapping is Self-financing. It is the most effective way when you are starting your own business. First-time entrepreneurs usually have a hard time securing funds for their business ideas to prove potential success. While some businesses require capital from the starting day, hence, Bootstrapping may not be a good option.

·      

          Crowdfunding:

It is one of the newer ways of funding a start-up that has gained popularity. It is similar to taking a loan, pre-order, contribution of investments from multiple persons at the same time. In the case of crowdfunding, an entrepreneur puts a detailed description of his business on a crowdfunding platform where he mentions his vision, revenue generation model, how much funding required and for what purposes, etc. and investors can contribute if they liked the idea. According to Startup Funding News, brilliant startup ideas raised their initial capital through crowdfunding.

·         Angel Investment:

Angel Investors are individuals with a keen interest to invest in upcoming startups and of course, they have possession of a surplus amount of money. While Angel Investment has certain shortcomings as this type of investors invests low capital than Venture capitalists.

·         Venture Capitalists:

These are the best bets where entrepreneurs have their eyes on. Venture capitalists work through professionally managed funds that have a higher potential. These capitalists offer expertise, mentorship to where the organization is going. Also, VC’s has a short leash and usually looks for recovering their complete investment within a period of 3 to 5 years.

How Keeping Updated With Latest Technology News Helps the Company to Innovate

Technology is associated with world-changing innovations that revolutionize how we live. But technology can also play a big role in the smaller scale, incremental improvements that are really important in business innovation. Many startup business models are leveraging the latest technologies to cater to India’s Tech Startups. According to the Startup News India, technology is penetrating deep into the country’s business culture driving innovation that is rooted in making people’s lives easier.

How Latest Technology News can help?

The development of technology has paved the way for various innovations. With the digitization of information, more and more businesses are increasingly leveraging the benefits of digital tools to improve their prospects. Technology has been crucial in turning this process into a complete success. Some of the ways technology can help business innovate are:

Improve communication

Innovation being a team effort depends largely on good communication and collaboration. Technology can help workers communicate and collaborate when they are in the field, working remotely. This helps in fostering a flexible and stimulating workplace that can help the team to get motivated to generate innovations.

Manage Ideas

Using technology like idea management software can help systematize the innovation efforts of employees. This includes tools for workers to propose and work together on ideas, choose promising concepts and develop them into new products or improvements in operations. This software can include social networking tools to promote collaboration and metrics to track your innovation performance.

Improve products

Technology can help be more innovative in business operations and product development.

Track Performance

In order to innovate it’s important to understand and analyze the performance and where one needs to improve. Technology can help a business monitor the performance through performance metrics so that innovation efforts can be targeted.

Monitor customer feedback

Technology can help a business get better feedback from customers and analyze it more effectively which can lead to innovations in product design, marketing, and customer relations

Upcoming Startups in India: Eligibility and Tax Exemptions

Startup India campaign is a program launched by the Indian government to boost entrepreneurship in India. The action plan is aimed at promoting bank financing for startups, simplifying the incorporation of the startup process and grant of various tax exemptions and other benefits to startups.

Eligibility for Upcoming Startups in India

As per the Government Startup Action plan, the followings conditions must be fulfilled in order to be eligible as a Startup:

1.    The startup should be registered in India for less than seven years and for technology startups up to 10 years from its date of incorporation.

2.    The annual turnover must not exceed Rs 25 crores in any of the preceding financial years.

3.    The startups should be directed towards development, deployment, innovation or commercialization of new products, processes or services driven by technology or intellectual property.

4.    The business must not be formed by splitting up or reconstruction of a business already in existence.

5.    The startup must obtain certification from the Inter-Ministerial Board setup.

6.    It can be incorporated as a private limited company, registered partnership firm or a limited liability partnership.

Tax exemptions allowed to Eligible Upcoming Startups in India under Startup India Program

According to the latest Business News, the following tax exemptions have been allowed to eligible startups:

1.    Exemption from tax on long term capital gains: The startups will be exempted from the tax on a long-term capital gain if the long-term capital gain or a part thereof is invested in a fund notified by the Central Government within a period of six months from the date of transfer of the asset. 

2.    Tax exemption on investments above the fair market value: The government has exempted the tax being levied on investments above the fair market value in eligible startups.

3.    3 year tax holiday in a block of seven years: The startup is eligible for getting 100% tax rebate on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs 25 crores in any financial year.

Reasons Why Some Businesses Fail

In the past few years, the rise in the number of people quitting corporate jobs and moving towards Business Entrepreneurship has increased.

However, entrepreneurship has a lot of risks associated with it; here are some of the reasons why entrepreneurship fails sometimes:

1.    Not focused:

A lack of focus on the capabilities of own as well as the market situations can be a driving factor towards the failure of plans. Many entrepreneurs perceive their idea, but not the market. Before initiating any plan it’s important to assess whether the market is willing to accept the idea or not.

2.    Lack of Funds:

Another important aspect of the success of Business Entrepreneurship is funding. Pursuing ideas without working on proper Startup Funds can lead to failure of efforts. A stable and well-thought startup definitely needs a solid amount of funds so that everything should have a proper start without sacrificing on any stage. Keeping updated with the changes in Startup Funding News can help a Business Entrepreneur to make intelligent use of funding capital.

3.    Poor leadership and management skills:

While poor leadership is undoubtedly one of the most ubiquitous potential stressors in the workplace, poor management ineffectiveness can reverberate throughout the organization. Bad management is more likely to waste opportunities by assigning the wrong job responsibilities to the wrong staff, hindering productivity and creating bottlenecks. Ineffective leadership can lead to a dysfunctional team ultimately affecting the business performance.

4.    Lack of planning and execution:

Entrepreneurship includes long-term and short-term planning. The plan should anticipate where the organization will be in two or five years, listing specific, measurable goals and results.

Without designing a proper plan, there will be no mission statement and no vision. A business that does not regularly review an initial business plan, or the one that is not prepared to adapt to the changes in the market or industry, meets obstacles throughout the course of its business.

Laws in India that Every Entrepreneur Needs to Know

India is one of the fastest emerging economies today with a potential market for startups and entrepreneurs. For promoting entrepreneurship a number of initiatives are taken by the government to ensure appropriate support for Upcoming Startups in India. Along with government initiatives, the penetration of IT and the internet has created a movement in the startup ecosystem of India.

Nurturing a business includes many things. Apart from operating legally in the country, a sound knowledge of all the legal intricacies in starting and managing the startups can help a long way to scale up the startups resulting in the overall growth of the Indian economy.

Formation Law: Before starting any business it is vital to ensure the type of business i.e. whether the company will be public or with limited liability. This attribute will not only help to decide the company's visibility, sustainability, and profitability but will also help structure the organization and help achieve its goals and vision. Therefore it’s important to decide the type of business keeping in mind the existing legal frameworks.

Tax and Accounting Law: Every type of business has a separate set of laws associated with it which can vary according to the product, region, and business. Therefore it’s important to keep a record of accounts, taxation information and an update on Business News for improving the financial and legal strength of any organization.

SEBI: Remaining updated with the regulations issued by SEBI will assist in managing the various stages of nurturing the new business, including fund-raising.

Corporate administration: A running-knowledge about corporate governance will help a budding entrepreneur to effectively manage and formulate further expansion plans.

5 Ways of Finding the Right Investor for a Startup

India is on the edge of tremendous growth in its startup ecosystem. With the changing time, the Startup Funding in India has evolved significantly. With Latest Technology News changing the business evolution, a lot of foreign venture capitalist firms is finding it right to invest in the country’s growing startup hub.

Finding the right investor

One of the most fundamental steps while initiating a startup is finding the right investor for the business. However, with new ideas coming up every day finding the reliable ways of funding the idea is challenging. But the brighter side of the idea is that from venture capitalist to angel investors the opportunities are endless. Some of the key points to keep in mind while finding the right Startup Investor are:

Investors that suits requirements:

One of the most fundamental steps while choosing an investor is searching for the one that suits the startup funding and company’s requirements. Always choose an investor keeping in mind the brand and target customer. Gathering research reports regarding the investors before signing the deal, asking key questions will help to make the decision clear. 

Investor’s market reputation:

Before hiring an investor it’s crucial to take a look at how much influence does an investor has in the industry. A right influence can add value to capital raising efforts.

Investors whom you can trust:

When it comes to investment trust plays an important role. In the starting phase of the company, a company may go through a lot of change. Therefore it’s better to go with a trustable investor who won't abandon a business when it's going through rough times.

An investor who is aligned towards our interest:

An investor who has an interest and is more aligned towards the idea and the project can lead to a great, long-lasting, sustainable business.

Diversity:

When it comes to funding especially at the budding state diversity matters. The experience of a smart investor can make or break a business plan.

Entrepreneurship- Empowering Vision

The thought of creating Successful Entrepreneurship Stories, controlling own destiny, is a hugely attractive prospect but the road of Successful Entrepreneurship can be challenging and exhilarating, frustrating and isolating, inspiring and exhausting, sometimes all in the same week. The most important key to serious accomplishment as an entrepreneur is, by far, one’s own internal drive and passion. That’s not something which could be learned somewhere.

Government encouraging startups

Startups are becoming very popular in India. Especially with various Startup Funding News going on by entrepreneurs are witnessing a funding boom. The government of India has started and promoted Startup India to promote growth and help the Indian economy. Under this initiative, many benefits are being given to entrepreneurs establishing startups. Easy access to funds is set-up by the government to provide Startup Funds like venture capital.  The government also guarantees lenders to encourage banks and other financial institutions for providing venture capital.

Challenges of a startup

Launched to build a robust eco-system for entrepreneurship and encourage enterprising individuals, the Government Startup Program for Business Entrepreneurs is about setting up a sustainable growth system. It aims to create an encouraging environment to take a risk and go innovative for work. Some of the key challenges a startup has to face are:

1. Financial management: Startups Funding rely heavily on financial backups from investors. At times, when there is a cash influx, startups tend to find it really hard to properly manage their finances.

2.  Customer Trust: Customer’s trust is one of the key challenges in any business, particularly in a startup. A highly satisfied and loyal customer base can help startups scale and make progress towards excellence. Implementing a customer-centric working philosophy can also help startups to succeed in their pursuit.

3. Security: Surviving cyber security challenges in this digital age requires super agility to counter online security threats. In order to safeguard all the important online data, startups need to have robust security systems in place thereby restricting unauthorized access to organizational data over the web.

Government Schemes for Business Startups in India

What is a Business Entrepreneurship?

A Business Entrepreneur is an individual who starts and operates a business while assuming the risks associated with it.

The entrepreneurship is combining of ideas, hard work, and adjustment to the changing business market. Innovation is by far the primary factor that governs the very creation of a Business Entrepreneurship. Innovations can be services, products, and even processes. Innovations can also be anything that introduces the inventions of new products that change the marketplace or create a new marketplace.

Types of Business Entrepreneurship

Small Business Entrepreneurship: When it comes to small Business Entrepreneurship they know their business and target audience. They make calculated decisions where the outcome is clear and keep them moving forward.

Scalable Startup Entrepreneurship: In this type of entrepreneurship, entrepreneurs start with a vision. With funding from venture capitalists, these types of entrepreneurship aim are to find a scalable business model. Scalable startups only make up a small proportion of all businesses due to the risk capital and outsize returns.

Large Company Entrepreneurship: A large company entrepreneurship focuses more on changing customer needs and advanced technology.

Government Funding for Startups in India

India is the breeding ground for innovations and is the third largest startup base in the world. For surviving any business ideas, passion and dedication alone are not enough to keep entrepreneurs going. A business also requires money which is generally given by Venture Capitalists and Angel Investors.

Without adequate financing for business, the startup is at the risk of imploding or going nowhere. In order to limit risk and solve the problem, business owners usually seek financial help from the outside. This can be in the form of debt or by Government Funding Schemes for Startups in India, etc.

Government Funding Scheme for Startups in India is a flagship initiative by Government of India to build a strong ecosystem for startups. An environment that is conducive for the growth of startup businesses, to generate large scale employment opportunities and drive sustainable economic growth.

Difference Between Entrepreneurship and Small business Management

Entrepreneurship and Small Business is the heart of every business. Every large company starts with a small business. A small business enterprise like tech startups requires skilled management in order to be successful.

With time there has been a shift in most economies away from manufacturing towards the service sectors where small firms like Tech Startups News often flourish because of their ability to deliver a personalized, flexible, tailor-made service at a local level.

A few aspects on which entrepreneurship and small business can be compared are:

1.   Leadership: An entrepreneur is an owner who does not employ others in its business, so might not need to possess strong leadership skills. A small business enterprise manager usually manages a staff of employees or maybe an in charge of a business operation. On the hand, an entrepreneur faces the challenge of ensuring the profitability of her operation while effectively leading a group of workers.

   

   

   Focus: Entrepreneurship requires a business owner to look at the overview pertaining to his business, which may include seeking new markets, establishing important contacts through networking and planning for future expansion. Small business management is more focused on the day-to-day operations of the business such as dealing with customers, ordering supplies or overseeing production. In other words, entrepreneurship involves developing the plan while management involves the execution of the plan.

3  Risk: The very nature of entrepreneurship requires the desire to take the risk. An entrepreneur is the risk taker and may be the prime investor into the business who consequently has to suffer the consequences if the business fails. On the other hand, small business management usually escapes taking risks and often involves in minimizing the risk once it presents itself. A small business enterprise limits expenses to ensure maximum profitability. Entrepreneurship often welcomes risk, while business management practices require an aversion to risk.

Keeping Updated with Technology in Business: Entrepreneurship Enhancement

With the rapid acceleration of innovation in the business ecosystem keeping pace with technology has become essential for every business as it helps organizations in maintaining a competitive edge. While maintaining elements of the business that utilize Technology News it’s crucial to   keep up with the relevant technology in a systematic and efficient way.

Ways in which technology can improve your business: Having a major impact in the modern workplace technology can revolutionize the way businesses conduct their daily activities.

Increase your productivity: Allowing businesses to speed up production processes technology increases business productivity.

Improve flexibility: Communication helps improve your company’s flexibility to deal with queries quickly and efficiently. This improves teamwork across the whole business. 

Better customer service: Using technology to improve customer dealings with the company can pay big dividends and help increase profits.

Websites for  Tech startup news

It is vital for every business to keep up with the latest trends in the sphere it operates. When it comes to startups staying up to date in the conditions of extreme uncertainty can help lessen up the struggle. 

There are a lot of technology news websites that can suggest what is going on in the tech world, update you on the question of startup funding and tell what is popular. Some of the best tech startup news websites are:

Tech Crunch: Focused on publishing the news of the technology industry the site publishes the stories about start-ups.

Entrepreneur: The site aims to publish the entrepreneurship stories and provides advice, insight, profiles, and guides for established and aspiring entrepreneurs to run the business successfully.

Mashable: It’s a global multimedia company which is focused on the tech and tech-related stories. 

Tech.co: Apart from telling the stories of the starts up and guiding the beginner’s tech.co also share the thoughts on tech events.