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My flight was delayed by over 3 hours. The carrier did not compensate for it. Here's how it unfolded

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

As more millenials are foraying into the workforce with digital and tech skills, India has emerged as a strong Science, Technology, Engineering and Mathematics (STEM) talent pool. India has seen exponential growth in coworking spaces over the last 12 months with the top global workspaces established in India, which has fueled the expansion of Fintech hubs in India. According to<a href="https://fintegrate2019.gomedici.com/india-fintech-report-2019"> India FinTech Report 2019</a> by a global innovation platform MEDICI, India is now the world’s second biggest FinTech hub, after the US — with over 2,000 startups nourishing in the zone. As Maharashtra has become the first state in India that announced FinTech policy, Mumbai has emerged as the leading FinTech hub in India — with Mumbai and Bangalore being a home to nearly <a href="https://www.inventiva.co.in/2019/03/04/india-worlds-second-biggest-fintech-hub-with-mumbai-and-bengaluru-leading-the-charge-study/">42%</a> startups. Here are the top FinTech hubs housing most of India’s startups: Mumbai <div type="image" title="itzcash" tempid="11549" msid="68882666" hostid="261"></div>

 Bangalore <div type="image" title="Capitalfloat" msid="68882651" hostid="261"></div>

 Delhi <div type="image" title="paytm" tempid="11593" msid="68882667" hostid="261"></div>

 Gurugram <div type="image" title="MobiKwik" msid="68882652" hostid="261"></div>

 Hyderabad <div type="image" title="paynear" msid="68882653" hostid="261"></div>

These are the top Fintech hubs in India — Bangalore, Mumbai leads the race

<ul><li>Bengaluru needs to turn into a deeptech hub too </li><li>Bengaluru is the only Indian city to be among the top 30 global startup ecosystems of today. It jumped two ranks up in the world’s top 30 startup</li><li>The city is known for its Edtech and Fintech startups but has been facing challenges due to weak environment policy in India.</li></ul> Bengaluru might be India’s <keyword id="6357722" type="LOCATION" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword> but it is in dire need of a strong framework to develop and commercialise “deep tech” like smart cities, robotics, autonomous systems, <a href="https://startupgenome.com/reports">said</a> the Global Startup Genome Report 2019. <a href="https://startupgenome.com/gser2019">Startup Genome</a> is an independent research firm that provides data and insights to startups. Bengaluru is the only Indian city to be ranked among the top 30 global startup ecosystems ranked by the report. It jumped two ranks this year in the world’s top 30 startup ecosystems list, according to the report. There are 30 global cities that it said have the potential to become the “next” hubs including Bengaluru. Bengaluru is home to a number of unicorns and is known for its edtech and fintech startups. However, it has been facing several structural bottlenecks. “A weak policy environment in India, as well as relatively low levels of research production, means that <keyword id="6355033" type="LOCATION" weightage="20" keywordseo="bangalore">Bangalore</keyword> might face more challenges in deep tech startup sub-sectors — those requiring tangible IP — than it did in Software, the report explained. It further said, “Potentially, this might become a significant hindrance in the ecosystem, threatening its future growth,” said the report. The city is also facing challenges due to “quality” of funding. The past growth “Bengaluru, Sydney, Stockholm, and Berlin stand out for their relatively low levels of Funding Quality, driven by lack of local, experienced VCs compared to other ecosystem”, said the report. Edtech and fintech hub India has witnessed exponential growth in co-working spaces over the last year which has fueled expansion in fintech and edutech hubs in India, with about 42% of startups based in Bengaluru. A recent India FinTech Report 2019 by global innovation platform MEDICI says that India is the second biggest Fintech Hub after the US with over 2,000 startups nourishing in the zone. Almost every top ecosystem has a strong national regulatory environment that encourages IP commercialization, according to the report.Here, too, Bangalore, along with Beijing and Shanghai was an exception. “Bangalore has all of the ingredients to create a world class tech ecosystem - investors, engineers, clients, experts - and the potential to build high-quality global startups at a fraction of the cost.” <a href="https://startupgenome.com/reports">said</a> Varun Chawla Founder, 91springboard in the report.

Here’s what Bengaluru needs to do in order to keep its crown as a global startup hub

<ul><li>The ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring.</li><li>India saw a 6 per cent drop in hiring activity (year-on-year) in October</li><li>Month-on-month job postings also saw a 5 per cent decline in the country.</li><li>Amid the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech.</li></ul>India saw a 6 per cent drop in hiring activity (year-on-year) in October, amid changing patterns in the start-up ecosystem, funding winter and fears of an upcoming recession, a report showed on Tuesday. Month-on-month job postings also saw a 5 per cent decline in the country. However, with companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors, hiring projections for the coming months are expected to pick up, according to Monster Employment Index. The ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring. Amid the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech. Similarly, industries such as banking and finance and telecom did well, with technology driving innovation and growth in both sectors. Artificial intelligence and Blockchain are transforming the BFSI sector, while the onset of 5G is transforming the growth of telecom. "While macroeconomic conditions have pushed companies to adopt a watchful approach to hiring, the need for skilled talent is unlikely to ever go away. Hence, it is important that today's workforce upskill and reskill themselves on an individual and organisational level," said Sekhar Garisa, CEO, Monster.com, a Quess company. Tier 2 cities such as Coimbatore and Ahmedabad posted a marginal incline in job activity on an annual basis whereas demand fell in major metropolitan cities of India. Among tier 1 cities, hiring remained stable in Mumbai whereas metros such as Bangalore, Kolkata, Delhi-NCR and Hyderabad posted a downward trend in recruitment activities. Industries such as BPO/ITES and Media and Entertainment continued to demonstrate a declining hiring trend from the year-ago level. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-ipos-worth-5000-crore-to-open-this-week-all-you-need-to-know/articleshow/95361401.cms">Four IPOs worth ₹5,000 crore to open this week: All you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/policybazaar-operator-pb-fintechs-q2-loss-narrows-to-187-crore/articleshow/95361316.cms">Policybazaar operator PB Fintech’s Q2 loss narrows to ₹187 crore</a>

India saw 6% decline in hiring in October amid funding winter: Monster report

<ul><li>71% of <keyword id="16562257" type="General" weightage="20" keywordseo="founders-of-early-stage" source="Orion">founders of early-stage</keyword> companies plan to raise <keyword id="549785" type="General" weightage="100" keywordseo="venture-debt" source="Orion">venture debt</keyword> in 2023. </li><li>74% of VCs surveyed said they would recommend their portfolio companies to take on venture debt in 2023. </li><li>Venture debt disbursed increased 2.6 times from 2019 to 2022.</li></ul>A lot has changed in the last one year in the <keyword id="1948071" type="General" weightage="80" keywordseo="Indian-start-up" source="Orion">Indian start-up</keyword> landscape. In per a survey by India Venture Debt Report by <keyword id="9353689" type="General" weightage="50" keywordseo="Stride-Ventures" source="Orion">Stride Ventures</keyword>, 82% of founders said they will strive for <keyword id="6515078" type="General" weightage="20" keywordseo="profitability" source="Orion">profitability</keyword> and prioritize scaling their startups in 2023. Also, 79% of VCs want to focus on profitability, while only 21% want to focus on growth. This is in contrast to 2022 when 68% of founders and 55% of VCs focused on growth rather than profitability. The survey also revealed that 71% of founders of early-stage companies plan to raise venture debt in 2023, compared to 50% of late-stage founders and 20% of growth-stage founders. Says Ishpreet Singh Gandhi, founder and managing partner, Stride Ventures, “Venture debt has become one of the key growth enablers for Indian startups.” Additionally, 74% of VCs surveyed would recommend their portfolio companies to take on venture debt in 2023. The survey results also highlighted that 62% of founders and 44% of VCs consider "engaging with bank limits" as the most important value-added service offered by a venture debt fund, with "advisory on corporate financial services" being the second most preferred service for 28% of founders and 33% of VCs. Bank limits are defined by a bank to set up amount and duration based restrictions on the transactions that can be carried out by the user. This is a change from 2022, where advisory on corporate financial services was considered the most important value-added service. <cmsannotation type="cmsannotation" annotationid="Agritech, healthtech, SaaS receive fewer venture debt prospects" comment="subhead2" text="Agritech, healthtech, SaaS receive fewer venture debt prospects">Agritech, healthtech, SaaS receive fewer venture debt prospects</cmsannotation> Finally, the survey indicated that agritech, healthtech, and SaaS sectors are receiving fewer venture debt prospects according to founders and VCs. Out of a total of 170-180 venture debt deals recorded in 2022, the fintech sector emerged as the leading sector with 31% of the share, followed by consumer and agritech sector startups. The report also highlights the potential of B2B replacing fintech in 2023 for the most attractive sector for venture debt, closely followed by consumer and EV. The report also reveals that the venture debt ecosystem in India is thriving, with a 2.6 times increase in the debt amount disbursed from 2019 to 2022. The report indicates that Series D and startups beyond that stage raised the most debt in 2022, while pre-Series A stage startups completed the highest number of debt deals. Geographically, the report recorded Delhi NCR as the most active location for venture debt deals in 2022, followed by Bangalore and Mumbai. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-ports-jsw-steel-indusind-bank-top-the-nifty50-list-with-highest-promoter-pledges/slidelist/98008939.cms">Adani Ports, JSW Steel, IndusInd Bank top Nifty50 list with highest promoter pledges</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/sell-off-in-adani-group-shares-resumes-after-george-soros-comments/articleshow/98008647.cms">Sell-off in Adani group shares resumes after George Soros’ comments</a>

As profitability takes priority, venture debt finds favour with startup founders: Strides report

<ul><li><keyword id="7772275" type="UNKNOWN" weightage="20" keywordseo="Mumbai-Fintech-Hub">Mumbai Fintech Hub</keyword> has launched an investment platform <keyword id="6384865" type="UNKNOWN" weightage="20" keywordseo="Find">FinD</keyword>. </li><li>India has over 2,000 <keyword id="2461546" type="PERSON" weightage="20" keywordseo="FinTech">fintech</keyword> startups with most of them based out of <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword> and <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>.</li><li><keyword id="6356172" type="UNKNOWN" weightage="20" keywordseo="Maharashtra-government">Maharashtra government</keyword> had launched a fintech policy in February 2018. </li></ul>Mumbai Fintech Hub, an initiative of the Maharashtra Government, has announced the launch of an investment platform called FinD. The platform aims to bridge partnerships between fintechs, investors and partners; and boost investment. “FInD is yet another initiative by Mumbai FinTech Hub to foster our vision of making Mumbai a global FinTech Hub. The unique value provided by the programme makes it crucial for all stakeholders involved, and helps unleash the true potential of India’s FinTech ecosystem,” said Suniti Nanda, Chief FinTech Officer, Mumbai FinTech Hub. Mumbai is the financial capital of India, and is home to a host of fintech startups. According to a <a href="https://yourstory.com/2019/03/india-second-biggest-fintech-hub-ld0slui9fn">report </a>in March 2019, India has over 2,000 fintech startups with most of them based out of Mumbai and Bengaluru, making the country the world’s second biggest fintech centre. “Providing access to capital and global or home-grown investors will eventually put us on the world map for fostering next-gen innovation and creating globally competent firms,” said Nanda. This investment platform is powered by PriceWaterhouseCoopers (PwC) and Medici with other partners like Aimcrest, NASSCOM, IVCA (Indian Venture Capital Association), among others. In February 2018, the Maharashtra government <a href="https://www.livemint.com/Politics/hRG81g8w6hvgFBEfCAwCAJ/Maharashtra-government-unveils-financial-technology-policy.html">announced</a> a fintech policy under which the state would facilitate startups with a ₹2 billion fund to be one of the top five fintech hubs in the world. According to the website, it has made way for 500 jobs in fintech sector. The Andhra Pradesh government too but an ecosystem for startups at Fintech Valley Vizag in the coastal city, in December 2016. The state had also held a fintech festival to promote innovation. See Also: <a href="https://www.businessinsider.in/these-are-the-top-fintech-hubs-in-india-bangalore-mumbai-leads-the-race/articleshow/68882150.cms">These are the top Fintech hubs in India — Bangalore, Mumbai leads the race</a>

Maharashtra Government launches an investment platform for fintech startups

<keyword id="10875" type="CITY" weightage="100" keywordseo="IBM">IBM</keyword> has strategically been working towards supporting start-ups. 
 One of such strategies is IBM <keyword id="634469" type="UNKNOWN" weightage="60" keywordseo="SmartCamp">SmartCamp</keyword> which is a part of IBM’s Global Entrepreneur program initiative. 
 The event was aimed at identifying <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> in the B2B and B2C space in India who are redefining the various redefine the healthcare industry through their technology innovations. The winners of IBM Smartcamp will be given access to IBM Cloud credits and can leverage the best of IBM technologies around Cognitive, Cloud, Analytics, Mobility, IoT and Infrastructure as a service. All participants will also get an opportunity to learn from IBM’s senior leadership and industry experts. IBM had also organized IBM Smartcamp for <keyword id="2461546" type="UNKNOWN" weightage="20" keywordseo="FinTech">FinTech</keyword> and <keyword id="2534058" type="UNKNOWN" weightage="20" keywordseo="HealthTech">HealthTech</keyword> in 2016. 
 Last week the company announced <keyword id="3874056" type="UNKNOWN" weightage="20" keywordseo="zippr-private-limited">Zippr Private Limited</keyword> as the winner of its IBM Smartcamp for Smart City 2016 challenge, an exclusive program aimed at identifying Startups having cutting edge innovations across multiple sectors like Energy &amp; Utility, Transportation, Sanitation, Water, Citizen Management, Safety and Surveillance and Agritech in India. 
 
Smart Camp event held on November 18, 2016, in New Delhi was a great <a href="http://www.businessinsider.in/A-study-by-Yuvraj-Singh-led-startup-reveals-49-of-Twitter-users-are-relying-on-influencers-for-shopping-online/articleshow/55541034.cms">opportunity for the participating startups</a> to present their solutions to a panel of VCs, angel investors, enterprise CIOs, IBM executives and key influencers across various domains. 
 <keyword id="824043" type="COMPANY" weightage="60" keywordseo="Business-Insider">Business Insider</keyword> caught up with <keyword id="2758219" type="UNKNOWN" weightage="60" keywordseo="Seema-Kumar">Seema Kumar</keyword>, Country Manager, Ecosystem Development, <keyword id="3874054" type="COMPANY" weightage="60" keywordseo="ibm-india-south-asia">IBM India &amp; South Asia</keyword> at the <keyword id="3874055" type="UNKNOWN" weightage="20" keywordseo="delhi-smart-camp">Delhi Smart Camp</keyword> Event “With this initiative, IBM also provides technical mentoring, assist the go-to-market and work with the accelerators of India. The primary focus for IBM through Smartcamp is to identify the next gen Startups in different industries and helping them scale.We are working with nascent companies that have open APIs and the right team to take their ideas forward. We wish to share our clients with them and make work meaningful for them at IBM.” 
 <keyword id="3874058" type="UNKNOWN" weightage="20" keywordseo="ibm-global-entrepreneur-program">IBM Global Entrepreneur Program</keyword> is a startup initiative by IBM which engages with the startups and provides them free cloud credits on <keyword id="2523013" type="UNKNOWN" weightage="20" keywordseo="IBM-Cloud-solutions">IBM Cloud Solutions</keyword> worth $24,000 for one year. 
 
<a href="http://www.businessinsider.in/Each-OLX-transaction-is-making-the-environment-cleaner/articleshow/55543406.cms">ALSO READ: Each OLX transaction is making the environment cleaner</a> 
 
Next in line in the Smartcamp series is the Smartcamp for Deep Tech will be organized in Bangalore. IBM Global Entrepreneur program is accepting applications from B2B and B2C Startups less than 5 years having innovations around areas like IoT,Big Data &amp; Analytics, Security, Storage, BI, Mobile, Cognitive &amp; Machine Learning, Blockchain, Social, Infrastructure Services Management or Cloud. 
 
​The link for applying is <a href="http://ibmgepindia.com/deeptech/">here. </a>

EXCLUSIVE: This is how IBM is supporting Indian start-ups

State Bank of India (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>), India's largest public sector lender, has set up a fund worth Rs 200 crore dedicated for investment in IT innovations and start-ups. 
 
The fund would be extending up to Rs 3 crore for all India-registered companies so that they can promote their business in India using IT for banking. 
 "We have created an entity to promote and ensure usage of the funds for the right purposes, the entity could have one or more technical experts on board for advisory roles. The team would provide legal and financial assistance to startups as and when required,"" <keyword id="6379603" type="PERSON" weightage="100" keywordseo="Arundhati-Bhattacharya">Arundhati Bhattacharya</keyword>, chairman of SBI told <a href="http://economictimes.indiatimes.com/small-biz/policy-trends/state-bank-of-india-creates-a-dedicated-rs-200-crore-fund-for-startups/articleshow/52777274.cms">ET</a>. 
 
Bhattacharya also spoke about a single window banking relationship support to be offered to start-ups by SBI. It would be provided to start-ups through its dedicated Bangalore branch; the bank has been operational for last 6 months, and has already added more than 200 clients. 
 
She added that she realises the potential that nimble financial technology companies possess regarding banking services that customers want, and that future success depended on collaboration and not only competition. 
 
Talking of the fintech sector, she said that cost of small transactions should be minimised and banking should be made smoother by removing unwanted processes that erupt the way for smooth functions. 
 
<a href="http://i.huffpost.com/gen/3640590/images/o-ARUNDHATI-BHATTACHARYA-facebook.jpg">Image source</a>

SBI creates a dedicated start-up fund of Rs 200 crore

Clean lines, functional spaces, bright colors and a youthful energy greet you when you step into <keyword id="2777173" type="PERSON" weightage="100" keywordseo="razorpay">Razorpay</keyword>’s new <keyword id="23557" type="UNKNOWN" weightage="20" keywordseo="office">office</keyword> in Bangalore. With its state-of-the-art office infrastructure, unconventional work stations and other amenities spread across 10000 sq.ft. The new office resonates the speed at which the fin-tech sector has grown in the last few months, leveraging industry’s high-technology talent pool while reinforcing the commitment to help Indian businesses embrace digital payments. The company plans to further expand staffing and capabilities in product engineering, sales, operations and customer support departments, as well as increase their ability to service current and future markets. Take a tour inside the office that is uber cool.

Here’s how Razorpay’s new office symbolizes the growth of the fin-tech startups

Five new financial technology <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> –Finbox, Neoeyed, Paymatrix, Scalend and <keyword id="4966455" type="ORGANIZATION" weightage="20" keywordseo="tybo">Tybo</keyword> are new entrants into <keyword id="3979043" type="ORGANIZATION" weightage="20" keywordseo="paypal-incubator">PayPal Incubator</keyword> in Chennai. They have been selected by the company for its year-long incubation program, after the final round of pitching during <keyword id="6357940" type="UNKNOWN" weightage="100" keywordseo="PayPal">Paypal</keyword>'s 5th Incubation Challenge which concluded recently. Initially, 10 startups were shortlisted from among 250 applicants who presented to a panel of judges including Guru Bhat, GM Technology &amp; Head of Engineering – PayPal, Anupam Pahuja, MD – <keyword id="284992" type="ORGANIZATION" weightage="20" keywordseo="paypal-india">PayPal India</keyword> and Rama Bethmangalkar, Venture Capitalist, formerly with Ventureast. "In its 5th year, the PayPal Incubator has received an overwhelming response with over 250 applications from early stage FinTech startups – a 150% growth from last year, reflecting both the need for an incubation program, as well as the FinTech industry’s potential," says Guru Bhat, GM Technology &amp; Head of Engineering – PayPal. During the one year of incubation, the winning startups will get technology counsel and mentorship, infrastructure support and networking opportunities with both investors and customers. PayPal will also be picking up an undisclosed stake in each of the selected startups this year. "Our incubation program is designed to help our newly incubated startups script their own success stories by facilitating access to PayPal’s expertise in cutting-edge technology and by enabling them to leverage PayPal’s market leadership around the world,” says Mr Bhat. As of now, PayPal's India incubator is aiming to drive innovation across the FinTech industry with a focus on startups in financial technology as well as adjacencies like loyalty, machine learning, big data and logistics among others. Here's are the services being offered by PayPal's 5th Incubation Challenge winners: FinBox - A software-as-a-service lending platform that enables lenders to digitise the user’s journey and underwrite. The startup’s application programming interface enables lenders to validate identity, underwrite using data from traditional and non-traditional sources, and cross-sell financial products to their customers. NeoEYED - A US-headquartered startup that helps businesses simplify the login and registration processes on mobile applications, enabling them to generate more revenues and improve user security. Paymatrix - An analytics-driven property rental management platform that streamlines rent payments and collections. The platform’s dashboard provides solutions for end-to-end rent management including tenant screening, credit facilitation for rent deposits, rent documentation, rent automation, renters and landlords insurance, and also facilitates interaction between tenants and landlords. Scalend - A ready-to-use, artificial intelligence-enabled customer insights platform for financial services companies. The platform combines proprietary AI models with big data Hadoop’s unlimited storage and computes power to help BFSI and fin-tech companies generate actionable insights around omni-channel customer journeys and back-office optimisation. TYBO - A cloud-based omni-channel e-commerce platform designed for home-based and small-sized businesses. It provides the merchant with a single view of their evolving business across multiple sales channels. The platform also enables end-to-end integration with the supplier system and saves time by importing products directly into their store. Only last month, PayPal had set up two innovation labs at its Chennai and Bangalore tech centres - both its first such facilities in India and third globally after the US and Singapore. In a bid to strengthen its position in the Indian market, it is believed PayPal has reportedly sought a wallet (prepaid payment instrument) licence from the Reserve Bank of India.

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