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Karnataka becomes first state to have a startup policy

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Bengaluru: Karnataka has become the first Indian state to have a startup policy with the cabinet clearing it, state Information Technology and Bio-Technology minister S.R.Patil said on Friday.

“Karnataka is the first state in India to come up with a Startup Policy. It will have a time frame of five years from 2015-2020,” said Patil at the Bangalore 2015 curtain raiser, adding the cabinet approval was accorded on Thursday.

Principal Secretary, IT and BT, V. Manjula said that the policy entails setting up incubators in post graduate colleges, a collaboration between R & D institutions and industry and technical business incubators in higher learning institutions among others.

“The operational guidelines and the finer aspects of the Startup policy and the quantum of money for the Startup fund are yet to be made. They will be drafted soon,” he said, adding funds will be released to colleges which will be given a handholding for three years and there will also be a Startup Policy review committee headed by the chief secretary.

Establishment of a Startup cell in KBITS and funding promising early stage startups are also the features of the new policy.

Meanwhile, the Karnataka government’s premier IT event Bangalore 2015 has severed its ties with CeBIT and is going independent from December 8-10 with the theme “Fuelling growth through disruptive innovation”.

“Bangalore 2015 is coming up with a renewed vigor this year… Last year in CeBIT 2014, we missed the Karnataka flavor,” said Software Technology Parks of India (STPI) director P.K. Das.

First started in 1998, the event will feature 100 plus exhibitors, 110 speakers, 1,000 delegates, 5,000 visitors and eight Young Entrepreneurs Startups in Soaring Spirits (YESS) presenters.

“Various government stakeholders will throw up challenges being faced by them in a hakathon to produce solutions in Bangalore 2015,” added Manjula.

Co-host STPI will confer IT export awards wherein big companies will be recognized as “Pride of Karnataka”, added Das.

Emphasizing Karnataka’s robust IT industry, Patil said: “In 2014-15, exports from Katanataka IT companies crossed Rs.2 lakh crore, and we aim to touch four lakh crore in 2020. The industry generates direct and indirect employment for 40 lakh people.”

Infosys co-founder and Karnataka IT Vision Committee head, Kris Gopalakrishnan said every Banaglore is different and should be relevant to the industry requirement and align with the evolving industry.


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Top 10 startups funded by celebrities

The buzzword of Indian economy 'Startup' gaining the attention of celebrities

Funds Ziddu. Wikimedia commons
Funds Ziddu. Wikimedia commons

Recently celebrities have been ready to invest in valuable startups. India has become one of the fastest growing startup ecosystems in the world, hence many celebrities seem to have growing business interests.

Here is the list of top 10 celebrities which are funding some major startups.

You may also like: Startup and a more competitive India

1. Ziddu funded by Amitabh Bachchan

Funds Wikimedia commons
Funds Wikimedia Commons

The actor decided to invest $250,000 in a startup based in Singapore, in 2015. Ziddu, a cloud service provider, was founded by Venkata Srinivas Meenavalli. It is run by Meridian Tech, and also offers free file hosting for documents, pictures, video, and audio.

2. funded by Shilpa Shetty

A site which has a listing of new and upcoming residential projects from top cities. Shilpa Shetty is the co-founder of this website which has helped 200 families get properties at discounted prices.

3. Pulse funded by Chetan Bhagat

This new age photo-sharing mobile app was founded by Karthik Vaidyanath and Prakhar Khanduja. This app has a combo of articles and user-generated content. It is a bit like Snapchat, but one major difference is that you cannot take screenshots of this one. Many prominent people have participated in its funding, one name is Chetan Bhagat.

4. Healthians funded by Yuvraj Singh

One of the many startups that Singh has invested in, is Healthians. It is a home service health test platform that operated in NCR. It is now launched in Mumbai and Bangalore too.

Funds Qyuki. Wikimedia commons
Funds Qyuki. Wikimedia Commons

5. Qyuki funded by A.R. Rahman and Shekhar Kapur

They both joined hands in 2012 to launch a social media platform. Qyuki aims to engage Indian youth to new media content. It was built on Cisco’s cloud infrastructure and had received an investment from it too.

Read more: Bollywood celebs security trimmed

6. Yatra funded by Salman Khan

All of us know about Being Human. However, what we don’t know is that Salman Khan has a 5% stake in He is also the brand ambassador for the company.

7. HealthEminds funded by Robin Uthappa

It was in March 2016 that Uthappa invested an undisclosed amount in HeathEMinds. The startup aims at helping people to deal with mental stress and depression. It was started in 2013, the startup offers video counselling without disclosing the identity of the caller.

Funds Muvizz. Wikimedia Commons

8. Muvizz funded by Manoj Bajpayee

Muvizz was founded by Bajpayee’s friends Abhayanand Singh and Piyush Singh. This startup offers cult, classic and independent films to lovers of cinema around the world. It is a Video-On-Demand platform.

9. GOQii funded by Madhuri Dixit

This startup designs wearable fitness bands, it also provides fitness training. Madhuri started out as an investor with GOQii founded by Vishal Gondal. Dr. Sriram Nene, Dixit’s husband, is the CMO of the company.

10. Indi funded by Anil Kapoor

It is video social network founded by Neel Grover which was launched in 2012. Kapoor invested an undisclosed amount in the startup.

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