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<keyword id="1452668" type="COMPANY" weightage="100" keywordseo="500-Startups">500 Startups</keyword>, the venture capital firm based in Silicon Valley, which had planned to open an India fund, is most likely double minded about the same. 
 
Aerin Lim, who serves as the director of investor relations at 500 Startups, had stated in March last year that the investment firm and startup accelerator was about to raise $10-20 million to create a separate fund for supporting startups based in India. This has raised many hopes at the end of startups and budding entrepreneurs based in India, who hoped to get funding for their businesses. 
 
However, that idea was delayed, and now, chances are that the decision would be reconsidered altogether; at least this is what some unnamed officials told ET. 
 
"Their overall strategy is changing given that they have struggled to raise money for their latest global fund," one of them said. "So the conversations around an India fund has slowed down considerably-practically negligible over the past 6-12 months." 
 
There was no confirmation (or denial) about the same from the end of the 500 Startups. 
 
Despite the fact that India is an attractive market for global firms for investment purposes, this is not the first time that 500 Startups has backed out from its India plans. In 2012 too, founding partner Dave McClure had tried to raise a $5-million fund for India, but as we know, it didn’t work out. 
 As of now, 500 Startups has invested in a number of Indian ventures, like <keyword id="3202695" type="COMPANY" weightage="100" keywordseo="TradeBriefs">TradeBriefs</keyword>, <keyword id="1898251" type="COMPANY" weightage="100" keywordseo="Instamojo">Instamojo</keyword>, <keyword id="1973410" type="UNKNOWN" weightage="100" keywordseo="Pricebaba">PriceBaba</keyword>, <keyword id="3041435" type="UNKNOWN" weightage="100" keywordseo="Sheroes-in">Sheroes.in</keyword>, <keyword id="3047828" type="UNKNOWN" weightage="100" keywordseo="OnlineTyari">OnlineTyari</keyword>, <keyword id="3058629" type="COMPANY" weightage="100" keywordseo="Gazemetrix">gazeMetrix</keyword> and <keyword id="416397" type="UNKNOWN" weightage="100" keywordseo="ZipDial">ZipDial</keyword>, and would continue doing that via its global fund. 
 
<a href="https://mymeedia.com/imageurl?width=800&amp;url=http%253A%252F%252Ftctechcrunch2011.files.wordpress.com%252F2014%252F06%252Fimg_2403.jpg">Image source</a>

500 Startups might cancel its plans of making an India-specific fund

New Delhi, Nov 25 () Messaging giant WhatsApp on Monday said it will provide 500 DPIIT-approved startups with USD 500 (around Rs 35,840) each of Facebook ad credits, a move aimed at helping Indian entrepreneurs connect with customers and grow their businesses.
 With the ad credits, the startups can create ads that invite customers to click to open a chat on WhatsApp so they can deepen connections and increase sales, a statement said.
 The announcement comes after the Startup India-WhatsApp Grand Challenge under which facebook-owned company had awarded a grant worth USD 50,000 (about Rs 35 lakh) each to five entrepreneurs who have developed India-specific solutions with socio-economic impact.
 "Startups and small businesses are the lifeblood of Indian communities and are a powerful driver of local economies. India's entrepreneurs are at the forefront of bringing impactful social and economic change, and we at WhatsApp are committed to provide them support in achieving success," WhatsApp India Head Abhijit Bose said.
 In order to be eligible for the initiative, startups must be at an early traction or scalable stage and must be recognised by the Department for Promotion of Industry and Internal Trade. Once registered, the first 500 entries will receive free Facebook ad credits worth USD 500, it said.
 "India is at an inflection point and as the second-largest community of startups in the world, our focus has always been to support the ecosystem and promote innovative solutions to today's challenges," Deepak Bagla, chief executive officer and managing director at Invest India, said.
 The Startup India portal has played a pivotal role in enabling the ecosystem to drive inclusive growth and it is constantly working to support the next generation of Indian innovators with partners like WhatsApp, he added.
 Five million businesses around the world, of which a million are in India, are actively using the WhatsApp Business app to connect with their customers. SR SHW
SHW

WhatsApp to offer startups in India with $250,000 worth of Facebook ad credits

As per a recent <keyword id="2325711" type="ORGANIZATION" weightage="20" keywordseo="Nasscomm">NASSCOMM</keyword> report, India continues to harbour the third largest startup base, marginally behind the UK. 
 Titled "Indian Startup Ecosystem Maturing - 2016", it states that the ecosystem is poised to grow by 2.2X to reach more than 10,500 <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> by 2020. 
 
The report released on the sidelines of Nasscom Product Conclave 2016 in Bengaluru on Wednesday predicted continued growth in the number of startups in 2016, with Bengaluru, NCR, and Mumbai continuing to lead as the major startup hub for the nation. 
 
In terms of vertical growth, investors are looking at domain like Healthtech, Fintech, and Edutech. With a total funding of approximately $4 billion, close to 650 startups were funded signifying an aware and healthy growth of the ecosystem. 
 
R Chandrashekhar, president, Nasscom, said, "Technology startups are creating a new identity for India and its technological prowess. They are defining the way the world operates making life better and easier for people and businesses alike. Our startup report is a testimony to the potential of the startup landscape and the scope of growth and opportunity that India presents. Nasscom has always been working towards creating a heterogeneous bond between all stakeholders and craft a conducive and innovative environment for start-ups to grow." 
 
According to the report, the number of tech startups in India is expected to grow by 10-12% to over 4,750 startups by the end of 2016. 
 
Interestingly, over 1,400 new startups emerged in 2016 denoting that that the ecosystem is becoming prudent with both investors and startup founders focusing on profitability and optimising the overall spend. With this impetus, India will become home to over 10,500 startups by 2020, employing over 210,000 people reveals the report. 
 
Furthermore, incubators and accelerators are playing a substantial role in strengthening the startup community throughout India. The report highlights the significant rise in number of accelerators to improve startups' outcomes and provide them with a support that they require. 
 
With impetus from the government and corporates, there is a 40% increase in the number of active incubators and accelerators in 2016 with over 140 active incubators, helping entrepreneurs experiment with new ideas by offering them functional expertise and resources. 
Over 30 new academic incubators have been established under the government's 'Startup India Standup India' initiative this year. With the country showing signs of increased interest in entrepreneurship, Tier-II/III cities have established 66% of the new incubators. 
 
The report reveals an increased interest from student entrepreneurs this year. Growth of 25% has been witnessed in 2016 with over 350 startups founded by young students. Median age of startup founders has reduced marginally from 32 years in 2015 to 31 years in 2016. 
 
Talking about investments, the report states that investors are increasingly looking at opportunities in startups in areas other than online retailing. The sentiments are high for ventures in verticals like Fintech, Healthtech, Edutech, data analytics, B2B commerce and artificial intelligence.

Welcome to India, The Third Largest Startup Base in the World

In the sluggish global economy and a slowdown in venture capital funding, India has managed to retain its startup growth story with about 4,750 technology start-ups. 
 India ranked as the third-largest startup base in the world behind the US (about 52,000 <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>) and the UK (about 4,900 startups), according to the Indian startup report released by <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">Nasscom</keyword> and consulting firm <keyword id="298873" type="COMPANY" weightage="20" keywordseo="Zinnov">Zinnov</keyword>, last year and it seems like post budget, that number is going to increase. 
 
<a href="http://www.businessinsider.in/this-is-what-budget-2017-had-in-store-for-startups/articleshow/56905882.cms">ALSO READ: This is what Budget 2017 had in store for startups</a> 
 
The report further added that the number of startups in the country is likely to more than double its base to 10,500 startups by 2020, employing over 210,000 people. 
 
Over 30 new academic incubators have been established under the government’s ‘Start-up India Stand-up India’ initiative this year. Tier-II-III cities have established 66 percent of the new incubators, the report noted. 
 
In 2016, $4 billion invested in Indian startups – deal value decreased 55%, volume increased by 3% from 2015. 
 
Let's see how India compares to the UK, China, and the US when it comes to startups.

Where Indian start-ups stand globally after Union Budget 2017-18

<ul><li>Freshworks became the first Indian software-as-a-service (SaaS) firm to get listed on a US exchange by raising $13 billion on its debut day.</li><li>The IPO created 500 crorepatis in India, 70 of them are under the age of 30.</li><li>There are many more reasons why the startup industry is cheering for the <keyword id="11167545" type="General" weightage="20" keywordseo="freshworks-ipo" source="Orion">Freshworks IPO</keyword>.</li></ul>Apparently, the startup world can’t keep calm because not everyday does an Indian software-as-a-service (SaaS) firm get listed on a US exchange by raising $13 billion dollars on its debut day. Icing on the cake is that the Freshworks IPO has also created a whole lot of wealth for its employees. 500 crorepatis (millionaires) in India, 70 of them are under the <a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">age of 30</a>. Interestingly, Girish Mathrubootham, co-founder and chief executive officer of Freshworks, who is a big fan of Rajinikanth, names the opening ceremony event on Nasdaq as ‘Project Superstar’ in tribute to the famous Indian actor. There are many more reasons why the startup industry is cheering for the Freshworks IPO launch. Here are a few reactions from the India Inc: Freshworks IPO is a ‘snowball moment’ for India’s SaaS industry "An IPO is one more feather in Freshwork and Girish's hat! I strong believe they would build a long standing institution. The most gratifying part is to see the wealth created for their team, and energy they have helped propel in the India SAAS ecosystem - installing confidence in founders /to-be founders that great companies can be built from scratch. This is a snowball moment for India SAAS, and I am excited that we at Speciale are live and investing in this vibrant and growing startup ecosystem,” — Vishesh Rajaram, founder and managing partner of Speciale Invest This startup accelerator feels this is a Neeraj Chopra moment for the industry "Salesforce was the first SaaS IPO in the world in 2004. It served as a big inflection point for the entire SaaS Industry and which today, after 15 years, has an enterprise value of $2 trillion dollars. Freshworks - as the first Indian SaaS company to go IPO - acts as a similar inspiration to a growing number of SaaS startups from India. Every Indian SaaS founder is cherishing this moment just like the nation celebrated Neeraj Chopra winning Gold at the Olympics,” — Prasanna Krishnamoorthy, partner at Upekkha Value SaaS Accelerator Now the important question is who will achieve this feat next? "Successful listing of Freshworks on NASDAQ is a “Eureka” moment for the B2B SaaS sector in India which will inspire many upcoming start-ups to spread Indian product software across the globe. This feat by Freshworks showcases the potential for Indian SaaS start-ups to build globally disruptive technology product companies. It also showcases an immense amount of talent and the passion for entrepreneurship &amp; execution the Freshworks team embodies, and we (as in the Indian startup ecosystem) are eager to find out who will achieve this feat next,” — Ankur Bansal, cofounder and director at BlackSoil “Every SaaS founder in India would have a story or two about how they got inspired by Girish and the Freshworks story. Freshworks IPO makes the story they believed and got inspired by all the more real and their aspirations all the more possible. To the next 10 Indian SaaS IPOs!,” — Mayank Agarwal, cofounder at SendX “Freshworks has paved the path for future SaaS Companies that are building from India and selling globally. This is just a start of what we can see in the upcoming decade where a ton of Indian SaaS Companies will be going public. As Girish had mentioned yesterday that he feels like winning an Olympic medal, it is equivalent or more and motivates the next generation of SaaS Founders to build and go public,” — Harshit Agarwal, chief executive officer at Appknox SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms">Freshworks IPO — 500 crorepatis, $12 billion market cap and more that emerged from India’s first SaaS listing at Nasdaq</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/voltas-havells-india-and-blue-star-stocks-have-gained-10-24-on-hopes-of-strong-demand-this-festive-season/articleshow/86448471.cms">Air conditioner brands Voltas, Blue Star, Havells rally ahead of festive season</a>

Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange

Finally, the star of the startup show – Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> - is on the stage amid thousands of VCs, investors, CEOs, and government officials at the 'Startup India, Standup India' launch in the national capital, unveiling his government's much-awaited ambitious action plan for Indian <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>. 
 
As all eyes remain glued to the TV sets around the world watching our Prime Minister unfold his dream project layer-by-layer, Business Insider gets you the fastest coverage of the key announcements made by Mr Narendra Modi which will pave the way for enabling a startup ecosystem in India: 
 
1) No Income Tax for 3 years 
Start-ups will be exempted from paying income tax on their income for the first 3 years. 
 
2) No Capital Gains Tax 
Capital gain tax exemptions will be provided to startups. 
 
3)Faster patent registration 
PM announced simplyfing IPR (Intellectual Property Regime) for start-ups and 80% reduction in patent fees. There will be a panel of legal facilitators for startups to file IP (patents, designs, trademarks), and all the costs will be borne by the government. 
 
4) Easier government procurement policy 
 
5) Clear Exit policy 
Startups will be able to exit within 90 days as per the provisions already tabled in the Parliament via the new bankruptcy bill. 
 
6) New Rs 10,000 cr dedicated fund 
It will start with 2,500 crore and a dedicated fund of Rs 10,000 crore will be created for funding of start-ups. 
 
7) Credit guarantee scheme 
Credit guarantee scheme will be introduced for start-ups in the next 4 years, funds of around 500 crores will be given every year 
 
8) No inspection of startups for 3 years 
No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post self-certification. Thereafter, they will get exemption on the basis of their experience and turnover. 
 
9) Compliance regime based on self-certification and One-page registration form 
One page registration form can be available on smartphone via an app. Mobile app will be launched on April 1. Registration of startup company can be done in one day! 
 
10) New <keyword id="94495" type="ENTERTAINMENT" weightage="20" keywordseo="Innovation">innovation</keyword> centres will come up 
Atal Innovation mission will give encouragement to state-of-the-art innovation centres. 31 innovation centres at national institutes, 7 new research parks like IIT-M and 5 new bio-clusters will come up. 
 
11) New women entrepreneur-centric policies 
New women entrepreneur centric policies will be announced to promote more and more women in setting up businesses.

PM
Modi announces mega #Startup India policy amidst wild cheering from the industry

<ul><li><keyword id="3465872" type="PERSON" weightage="20" keywordseo="curefit">Curefit</keyword> has raised $75 million in the first tranche of series D round of <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword>. </li><li>Its range of investors now include <keyword id="192487" type="PERSON" weightage="20" keywordseo="Anand-Piramal">Anand Piramal</keyword> Trust, Accel Partners, Kalaari Capital, IDG Ventures among others. </li><li>This takes the startup’s reported valuation to $500 million. </li></ul>Health and fitness startup Curefit has raised $75 million in a series D round. According to the filing sourced by Paper.vc, the investment was raised from Accel Partners, Anand Piramal, Kalaari Capital, IDG Ventures India and Pratithi Investment Trust. While the investment is a first tranche of a series D round, Curefit’s <a href="https://www.livemint.com/companies/start-ups/curefit-raises-75-million-valuation-crosses-500-million-1557206291458.html">reported</a> valuation with the recent fundraise goes up to $500 million. Curefit has not released an official statement regarding the fundraise. Curefit, founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart Chief Business Officer Ankit Nagori, has gained popularity in India through its fitness centres - <keyword id="6825388" type="UNKNOWN" weightage="20" keywordseo="cultfit">Cultfit</keyword>, health app - Curefit, diagnostic centres - Carefit and yoga and meditation centres - mindfit. The duo’s success with their previous businesses seems to have rubbed off on their current venture too. In just three years, the startup has registered 4 lakh users for curefit, with 160 centres across Bengaluru, Delhi NCR, Mumbai and Hyderabad – all adding up to an annual revenue of $100 million. Curefit had last raised funding of $120 million in July 2018. Earlier, it had also raised funding from Bollywood actor Hrithik Roshan, who had been signed as the brand ambassador for the fitness startup in 2017. Roshan had <a href="https://inc42.com/buzz/hrithik-roshan-pours-in-878-2k-in-fitness-startup-cure-fit/">reportedly </a>invested $14.63 million in the startup. Since its inception, Curefit has acquired 5 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in the <keyword id="245935" type="ORGANIZATION" weightage="20" keywordseo="Health-and-Wellness">health and wellness</keyword> space, and has been fast growing its business. The Bengaluru-based startup has also been <a href="https://tech.economictimes.indiatimes.com/news/startups/cure-fit-plans-to-enter-dubai-as-local-business-achieves-critical-mass/67579215">looking</a> at opportunities to go global with Dubai and Southeast Asian countries. See Also: <a href="https://www.businessinsider.in/healthifyme-indias-top-rated-healthapp-on-playstore-is-set-to-turn-profitable-this-year/articleshow/68900244.cms">This startup helping 9 million Indians lose weight may soon turn profitable</a> <a href="https://www.businessinsider.in/world-health-day-india-needs-laws-to-protect-online-medical-data/articleshow/68771225.cms">India has millions of medical records online but no law to keep the data safe</a>

Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding

More than 32,000 tech workers have been laid off in the US till July this year, including at Big Tech companies like <keyword id="10387" type="General" weightage="80" keywordseo="microsoft" source="Orion">Microsoft</keyword> and <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword> (formerly Facebook) and the worst has not been over yet for the tech sector that has seen massive stock sell-off. According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July. "We've included both startups and publicly traded companies that are based in the US. We've also included companies based elsewhere that have a sizable team in the United States, such as Klarna," the analysis said. The layoff includes ride-sharing platform Uber, <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> and several cryptocurrency exchanges and lending platforms. Robinhood, <keyword id="4522875" type="General" weightage="80" keywordseo="glossier" source="Orion">Glossier</keyword> and Better are just a few of the tech companies that have trimmed their headcount this year. Since April 1 this year, more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, according to latest data compiled by layoffs.fyi, a website that tracks layoffs in startups. In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 11,500 have been fired this year. The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU'S (550 at Toppr and <keyword id="8080458" type="General" weightage="80" keywordseo="whitehat-jr" source="Orion">Whitehat Jr</keyword>) and <keyword id="2016957" type="General" weightage="80" keywordseo="vedantu" source="Orion">Vedantu</keyword> (624), along with ride-hailing platform <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others. The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-date-announced-sale-starts-august-6-onwards/articleshow/93268050.cms">Amazon Great Freedom Festival date announced - sale starts August 6 onwards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/swine-flu-resurfaces-in-keralas-wayanad-first-time-in-kannur/articleshow/93267832.cms">Swine flu resurfaces in Kerala's Wayanad, first time in Kannur</a>

You Searched For "500 Startups india" and got 8 results

500 Startups might cancel its plans of making an India-specific fund

BI India Bureau

WhatsApp to offer startups in India with $250,000 worth of Facebook ad credits

PTI

Welcome to India, The Third Largest Startup Base in the World

Anushree Singh

Where Indian start-ups stand globally after Union Budget 2017-18

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Landmark moment for this Rajinikanth fan’s SaaS startup on listing at US exchange

Bhakti Makwana

PM Modi announces mega #Startup India policy amidst wild cheering from the industry

Anushree Singh

Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding

Sanchita Dash

Over 32K tech workers fired in US, more than 11K in India this year

IANS

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