Venture Catalysts has launched a new incubation center in New Delhi, the country’s first global hub for start-ups, to be known as the “Venture Catalysts Let’sWork Global Startup Incubation Centre”.
The launch of the incubation center is aimed at further bolstering its position as a leading platform for innovative start-ups to grow and access funds. For this, Venture Catalysts has partnered with China Accelerator, the first start-up accelerator to launch in China. Besides this, Venture Catalysts has also joined hands with India-Israel Innovation Centre in Israel and in the UK with Relam Investments, a USD 50 million accelerator fund.
The launch of the Global Startup Incubation Center in New Delhi will be followed by the establishment of other centers in Mumbai, Bangalore, and Pune. With New Delhi and Mumbai envisioned as its key, global incubation hubs in India, Venture Catalysts seeks to provide an ecosystem to foster entrepreneurship and build a strong global community of start-ups to help boost their growth, scale up their technology and teams, along with the chance to be funded by investors from around the world.
Chinaccelerator, the world’s 4th largest, early-stage investor with 600 start-up investments will collaborate with Venture Catalysts to organize cross-border incubation programs and activities with start-ups from India and other countries. The programs will have a special focus on investing in promising Indian start-ups. There are already 21 global funds which co-invest in Venture Catalysts’ portfolio start-ups and with these partnerships, this number is likely to be bolstered further in the days to come.
Venture Catalysts has also joined hands with the India-Israel Innovation Centre. The India-Israel Innovation Centre was founded by Moshe Porat, Founder & CEO Mesh Labs, and Varad Krishna, Founding Partner, IIIC. It was launched by Ramanan Ramanathan, Mission Director, Atal Innovation Mission, Moshe Porat, Ariel Seidman, Deputy Consul General of Israel and Varad Krishna, Founding Partner, IIIC. The partnership with IIIC will be further leveraged to help start-ups and entrepreneurs grow their businesses, with both countries working in collaboration to share technology, entrepreneurial knowledge and resources. The India-Israel Innovation Centre is a significant step towards facilitating access to the Indian market and tech ecosystem for Israeli companies.
Commenting on the announcement, Dr. Apoorv Ranjan Sharma, Co-Founder and President, Venture Catalysts said, “With major tailwinds from the global technology space, several Indian ventures are emerging, be it early or growth-stage ventures that can turn India into a hub of some of the most innovative start-ups in the world. We are delighted to collaborate with a firm like Chinaccelerator which boasts an impressive record of incubating many high-potential start-ups and propelling them to the next level of growth. Moreover, Venture Catalysts’ dedicated investor network will support these partners and start-ups. With Venture Catalysts, we have India’s largest dedicated investor networks – one of the largest in Asia – to provide support to these partners and start-ups in the form of knowledge, networking, and market-oriented opportunities, besides funding.”
Neeraj Tyagi, Managing Partner, Venture Catalysts, commented, “New Delhi/NCR is among the fastest growing start-up hubs in Indian at present, and presents a huge opportunity for innovative ventures to access a vast network of investors and knowledge providers. As India’s number one integrated incubator, Venture Catalysts is committed to providing extensive support to growing ventures by connecting them to the best resources and help them leverage market opportunities. The creation of India’s first global incubation center with LetsWork , we have found a right incubation partner in Kushargh Awasthi and together we are set for making a big impact at Delhi’s startup ecosystem.”
Venture Catalysts has hosted multiple start-ups across incubation centers in Dubai, London, and Hong Kong, as part of its ongoing strategy and programs aimed at creating a global ecosystem of companies and investors. Including the hubs in New Delhi and Mumbai, the firm plans to launch a total of 10 incubation centers in India by March 2019, thus connecting entrepreneurs from various regions of the country to its global network.
Fyool App Launches New User Interface
FYOOL, a unique cashback app that hit the android market last year, offering up to 50% cashback on petrol, diesel, CNG, LPG, restaurant along with all types of wine and beer now once again makes a buzz. It now boasts of a new user interface in which school fee, groceries, travel, hospital, pharmacy, saloon, apparel, online bill payments and a lot more has been included in 50% cashback offerings.
Looking at the growing user base the App is all set to kick off with its dedicated ‘Rupay card’ which will be used for all the shopping and cashback. The card can be easily booked by a request made through the application itself. The card will work like a prepaid debit card and valid for all online shopping and swipe machines. It will give added comfort to the users as they no longer have to upload bills in the new version. All the transaction and shopping will be made through the card.
The card needs to be recharged like any prepaid card. Users can recharge cards from the application. The app will be setting limitations on the monthly cash back and the Cashback can be redeemed by claiming any product from the app without paying any cash by the user.Fyool Rupay prepaid Card was recently launched by TV Celebrities Delanz Irani & Pankit Thakkar.
Commenting on the new development, Raunak Sharma, Founder FYOOL said, “We have upgraded to the new version as we are getting a very good user response and felt that the time is apt to move to the next level of offering. Our intention is in sync with our core philosophy of reducing the financial stress of the common man that this difficult time has pressed upon us. We want to ease the financial drain on the middle-class people who have been severely hit by the pandemic situation hence we have now added the grocery category too. We all know in the current scenario; the lower income group continue to feel thepinch while buying daily household items. We want the housewives also to benefit by using the cashback for grocery items.
So, keep yourself-updated with the new trend of saving money by downloading FYOOL app from play store or app store. Register yourself with name, mobile no. and email id and book FYOOL prepaid card today!
Once you receive the card, set your card pin from the FYOOL app. Load money in your card by selecting top-up in FYOOL app. Use your card anywhere offline or online like petrol, diesel, CNG, LPG, groceries, medical bills, school fees, online bill payments etc. Get 50% cashback on every transaction. And you can redeem your cashback by claiming the products like air conditioners, air purifiers, home theatres, and laptops, LED TV, mobile phones, refrigerators, scooty,
bikes and many more from the shopping cart of FYOOL app. It’s that simple!
FYOOL was created with the intention to uplift the lives of overburdened customers with the price hike owing to the unexpected pandemic and lockdown in 2020. The FYOOL cashback app is one of its kind in the market and instrumental in creating an additional income for the lower-income groups and housewives.
This creative venture is the brainchild of Mr. Raunak Sharma and the app is completely ‘make in India’, thus promoting the Atmanirbhar Bharat scheme started by the Government of India.
Fyool App, Fyool App Interface, User Interface, Cashback, IT News, Technology News, Telecom Today
Tech Startup Xencov Software Venturing to Advanced Technologies- AI, ML & IoT
Xencov Software announced that it is venturing to new-age technologies such as Artificial Intelligence, Machine Learning & IoT. This initiative is a result of several enterprises taking steps in incorporating new-age technologies in business operations as a result of Covid-19 pandemic. This helps enterprises to save money, boost efficiency, generate insights, and create new markets. With a focus on product development based on Artificial Intelligence, Machine Learning, IoT & intuitive Design, Xencov Software aims to scale up the business to 2x.
Today, it is imperative for enterprises to tap opportunities in data analytics, Artificial Intelligence (AI), Machine learning, IoT, etc. to remain relevant & stay ahead.
The sector has a more prominent role in the future with the increased dependency on these technologies & will have a greater impact on the businesses.
According to Suroor Wijdan, Founder of Xencov Software, “In the near future given the current pandemic situation, there will be an increased dependency on digital tools. Moreover, technology companies and start-ups have realized the need for AI, Machine Learning & other new technologies in solving the business needs. “
He further added that with changing trends, Xencov started working on these technologies which is a growth opportunity for us.
According to a report, the global artificial intelligence (AI) market size will grow by US$ 75.54 billion during 2019-2023. McKinsey predicts that AI will boost productivity way more than the steam engine was able to in the 1800s. AI’s impact on the global economy is that it will have generated US$13 trillion in economic activity across the world by 2030, says McKinsey. It also expects that AI will add about 1.2 per cent of additional GDP growth per year through to 2030.
Retail Startup Perpule Announces the Expansion of Its Footprints in Southeast Asian Market
Following the massive rise in demand of ecommerce enablement solutions globally, Perpule expanding its footprint to the Southeast Asian market with its ecommerce enablement product Perpule E-Commerce+. Through this expansion, the company is targeting modern retailers – spanning across categories like fashion, grocery, electronics, food & others – operating in Indonesia, Malaysia, Vietnam, Thailand, Singapore & Philippines.
The retail market in Southeast Asia is over $700 billion but is yet to adopt modern technologies and become heavy on ecommerce. COVID-19 has further exacerbated the situation by disrupting the businesses of several offline retailers who are now facing a slowdown in sales and operations. Perpule E-Commerce+ strives to address these challenges by driving ecommerce readiness and thereby helping the retailer community restart their operations afresh in the post-COVID world. The company aims to secure around 20% of the ecommerce market share and help offline retailers switch to an online model in minimum time.
Perpule Ecommerce+ is truly built with a next gen approach to facilitate ecommerce smoothly from offline stores and has all the necessary integration with leading payment gateways, logistics players, ERP, POS, Loyalty etc. to make ecommerce enablement much easier for retailers. Perpule’s homegrown Progressive Web Apps (PWA) technology is a game-changer in ecommerce for retailers. It offers users a superior browsing experience even on poor internet connections and works completely offline thereby improving conversion rates by over 40%.
Commenting on the expansion, Abhinav Pathak, CEO & Cofounder, Perpule said, “While the entire world stands disrupted by the unprecedented impact of COVID-19, the retailer community has been impacted the most. At Perpule, we aim to equip retailers with an advanced, new-age online platform and provide them with a major fillip to effectively and profitably run their businesses, even during a crisis like this. We are delighted to foray into the Southeast Asian market and will endeavor to serve customers in the best possible manner through our tech-driven platform.”
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