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‘KPIT Sparkle 2017’ is a national design and development innovation contest held every year. It is the brainchild of <keyword id="1911625" type="UNKNOWN" weightage="20" keywordseo="KPIT-Technologies">KPIT Technologies</keyword>, a global technology company specializing in IT consulting and product engineering. This time, the contest received 1,500 ideas from over 10,500 engineering and science students across 300 colleges in India. 
 Top 35 shortlisted teams will exhibit their solutions on Smart Cities through working prototypes at the grand final on 18th and 19th February, at the <keyword id="4147533" type="ORGANIZATION" weightage="20" keywordseo="deccan-college-ground">Deccan College Ground</keyword> in Pune. This year’s theme is Smart Cities and revolves around creating solutions for Smart Transportation and Smart Infrastructure. A panel of judges consisting of scientists, industrialists and academicians, will evaluate the projects on the final day. The selected finalists will be invited for job and internship opportunities at KPIT. The winners will also win cash prizes of over Rs 20 lakh. 
 Union Minister for HRD affairs, <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword> is the Guest of Honor and will be presiding the event along with his delegation. Padmashree Dr. <keyword id="149957" type="PERSON" weightage="20" keywordseo="Kiran-Karnik">Kiran Karnik</keyword>, who is the former President of <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> will be the chief guest. 
 
On receiving extraordinary response for KPIT Sparkle 2017, Ravi Pandit, KPIT’s Co-founder, Chairman and Group CEO said - “The Government of India’s emphasis on the Smart Cities initiative is pivotal towards development of the nation and will provide many opportunities towards creating ground-breaking solutions that solve real world issues. We are positive that these top 35 finalists selected for Sparkle 2017 will display exceptional technological acumen and scientific thinking, which are key elements for the success of the event.” 
 
On display, at the event, would be some interesting and novel projects in the areas of smart electric vehicles and self-learning bots, clean and efficient fuels enhanced with nanotechnology, solutions to recover and clean oil spills, coherent use of energy from plants, wind, solar and waste water and separation of plastics from waste. 
 
The larger intent of this move is to foster a culture of innovation and critical thinking among engineering and science students across colleges in India.

Jobs, Internships, Rs 20 Lakh cash: This competition will shower prizes for coming up with best 'Smart Cities' solutions

Lending institution, <keyword id="104385" type="COMPANY" weightage="100" keywordseo="Small-Industries-Development-Bank-of-India">Small Industries Development Bank of India</keyword> (<a href="http://www.businessinsider.in/searchresult.cms?query=SIDBI&amp;sortorder=effectivedate">SIDBI</a>), recently cleared the sanction requests of nine funds aggregating Rs 300 crore. This move was made to show a significant upsurge in the fund of funds operations focused on <a href="http://www.businessinsider.in/searchresult.cms?query=MSME&amp;sortorder=effectivedate">MSME</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">startups</a>. SIDBI manages several fund of funds, including the Rs 10,000 crore corpus kept for <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword>. As a manager of these funds, it had constituted a (<keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">Venture Capital</keyword> Investment Committee (<a href="http://www.businessinsider.in/searchresult.cms?query=VCIC&amp;sortorder=effectivedate">VCIC</a>), which includes experts like Mohandas Pai, Sanjeev Bikchandani, Saurabh Srivastava, H.K.Mittal, Prof. Vaidyanathan, Kiran Karnik. 
 
SIBDI has seen a surge in the fund of funds operations as seen from the number of funds supported by SIDBI during the current financial year. During <a href="http://www.businessinsider.in/searchresult.cms?query=FY15&amp;sortorder=effectivedate">FY15</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=FY16&amp;sortorder=effectivedate">FY16</a>, sanctions were made to 11 funds (Rs 314 crore) and 16 funds (Rs 607 crore), respectively while the number during the current FY has already crossed Rs 1112 crore to 30 funds. 
 
The government had announced establishment of Rs 10,000 crore fund of funds to support AIFs who invest in Startups. This money will be released spread over two finance commission cycles (14th and 15th till 2025) based on the scheme’s progress. An amount of Rs 500 crore has been released so far to SIDBI which is managing the programme.

Focus on MSME, startups increases, Rs 300 crore funds sanctioned

Looks like Indian government's '<keyword id="3003094" type="UNKNOWN" weightage="100" keywordseo="Startup-India">Startup India</keyword>, <keyword id="3086992" type="UNKNOWN" weightage="100" keywordseo="Stand-up-India">Stand Up India</keyword>' programme is getting onto the right track. In a recent development, <keyword id="104385" type="COMPANY" weightage="100" keywordseo="Small-Industries-Development-Bank-of-India">Small Industries Development Bank of India</keyword> (<keyword id="6391656" type="COMPANY" weightage="100" keywordseo="SIDBI">SIDBI</keyword>) has cleared Rs 930 crore from the Rs 2,000-crore fund-of-funds that was launched in August to support venture capital funds. 
 SIDBI's <keyword id="3007722" type="UNKNOWN" weightage="100" keywordseo="India-Aspiration-Fund">India Aspiration Fund</keyword> (<keyword id="6355075" type="ORGANIZATION" weightage="100" keywordseo="IAF">IAF</keyword>) has already screened over 30 venture capital funds since its launch, and sanction letters have been issued to more than half of them. 
 "Proposals from 24 venture capital funds for an aggregate commitment of Rs 930 crore have been cleared in principle by the <keyword id="3181679" type="UNKNOWN" weightage="100" keywordseo="venture-capital-investment-committee">venture capital investment committee</keyword> (<keyword id="2838877" type="UNKNOWN" weightage="100" keywordseo="VCIC">VCIC</keyword>) so far, out of which sanction letters have already been issued to 16 VCFs with an aggregate commitment of Rs 482 crore, where documentation is in progress," SIDBI Chairman and MD Kshatrapati Shivaji told ET. 
 
There are a dozen proposals for a potential commitment of around Rs 500 crore that are lined up for the consideration of Venture Capital Investment Committee (VCIC), which comprises of a panel of experts in various fields who are advising SIDBI in screening the venture funds. 
This panel includes TV Mohandas Pai, chairman of Manipal Global Education Services; Sanjeev Bikchandani, founder of Naukri.com owner InfoEdge; Saurabh Srivastava of Indian Angel Network; Kiran Karnik, former Nasscom chief; Vaidyanathan, IIM-Bangalore; and Harkesh Mittal, programme head of innovation, entrepreneurship and technology commercialisation at the Department of Science and Technology. Two senior SIDBI executives are also included in the panel. 
 
After application, the proposals are put up to an executive committee of the bank's board, which then sanctions these applications. SIDBI has already supported Blume Ventures, Orios, YourNest, Ivy Capital and Infuse Ventures through IAF. 
 
<a href="http://bankersherald.in/wp-content/uploads/2015/06/SIDBI-bank-recuritment.jpg">Image source</a>

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Jobs, Internships, Rs 20 Lakh cash: This competition will shower prizes for coming up with best 'Smart Cities' solutions

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Focus on MSME, startups increases, Rs 300 crore funds sanctioned

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SIDBI clears Rs 930 crore to support VC funds

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