entrepreneurship | Business Upturn

Skill Ministry partners with Aditya Birla Capital Foundation, BITS Pilani to encourage entrepreneurship in vocational institutes

Riddhima Jain — Fri, 31 Oct 2025 11:47:35 +0000

The Directorate General of Training (DGT) under the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Aditya Birla Capital Foundation (ABCF) and the Pilani Innovation and Entrepreneurship Development Society (PIEDS) — the incubator of BITS Pilani — has launched an innovation and start-up challenge aimed at promoting innovation and entrepreneurship among students of National Skills Training Institutes (NSTIs) across the country.

NSTIs, operating under the aegis of DGT, play a critical role in India’s vocational training ecosystem, providing technical instruction to create a skilled workforce and instructor trainees for various industries. Currently, 33 NSTIs are operational nationwide, training over 10,000 students under the Craft Instructor Training Scheme (CITS) and Craftsmen Training Scheme (CTS). Dedicated NSTI (Women) centres also focus on women’s vocational education.

While India has several platforms supporting innovation at the school and higher education levels, there has been limited institutional support for the Technical and Vocational Education and Training (TVET) sector, which serves over 13 lakh students enrolled in ITIs and NSTIs. Most TVET graduates traditionally pursue industry jobs, work as trainers, or enter self-employment.

The newly launched initiative — Navonmesh Protsahan Spardha: Kaushalta se Udyamita — seeks to bridge this gap by nurturing skill-based innovation and entrepreneurship among NSTI students.

Speaking at the launch, Ms. Debashree Mukherjee, Secretary, MSDE, Government of India, said “At the Ministry of Skill Development and Entrepreneurship, we believe that every skilled individual carries within them the potential to become a job creator. Through this partnership with the Aditya Birla Capital Foundation, we are enabling NSTI students to channel their technical skills into innovation and enterprise. The Navonmesh Protsahan Spardha will empower our young innovators to transform ideas into sustainable ventures, strengthening India’s vision of becoming an Aatmanirbhar and innovation-driven nation.”

The first-of-its-kind innovation challenge will engage more than 10,000 NSTI students, providing mentorship, prizes, access to resources, and incubation support to help turn innovative ideas into viable ventures.

The program will focus on projects in IT/ITeS, Automotive, Apparel, Electronics & Hardware, Power, Capital Goods, and Manufacturing sectors. It will be managed by PIEDS (BITS Pilani) and supported through the Corporate Social Responsibility (CSR) initiatives of the Aditya Birla Capital Foundation.

Through this initiative, MSDE and its partners aim to cultivate a culture of innovation and self-reliance within India’s skill ecosystem, empowering vocational students to become entrepreneurs and innovators rather than job seekers.

By fostering collaboration between industry, academia, and government, the program is expected to add a new dimension to India’s Skill India Mission, aligning technical education with the nation’s broader Aatmanirbhar Bharat vision.

Malaysia’s Startup Ecosystem: Is Government Oversight Stifling Innovation?

Prakriti Mitra — Tue, 04 Mar 2025 01:05:22 +0000

The State of Malaysia’s Startup Ecosystem

The startup landscape in Malaysia has been shaped by government-linked agencies such as Cradle Fund, Malaysia Venture Capital Management Berhad (MAVCAP), and Malaysia Digital Economy Corporation (MDEC). These organizations provide funding, mentorship, and policy support, creating a structured yet controlled environment for startups to operate within. While this approach has yielded success stories, it has also sparked concerns about an over-reliance on government support and limited opportunities for independent players.

Oligopoly of Government-Linked Entities

Unlike private-sector-driven ecosystems in countries like Singapore and Indonesia, Malaysia’s startup ecosystem operates under a framework where most funding and accelerator programs are connected to government entities. The intention behind this structure is to nurture early-stage companies and provide financial backing where private investors might hesitate.

Is Government Support Helping or Hindering Growth?

The Malaysian government’s role in the startup ecosystem has both benefits and drawbacks:

Advantages:

Funding Accessibility – Startups have access to grants, low-interest loans, and seed funding, making it easier for early-stage businesses to launch.
Policy and Regulatory Support – Initiatives like Malaysia Digital (formerly MSC Malaysia) offer tax incentives and infrastructure support for tech companies.
Talent Development – Government-backed programs focus on upskilling entrepreneurs and supporting innovation.

Challenges:

Limited Private Investment – With the government dominating the funding landscape, private investors are often sidelined, reducing competition and diversity in funding sources.
Bureaucracy and Red Tape – Entrepreneurs report delays and rigid requirements in accessing grants and support.
Lack of Risk Appetite – Government-backed initiatives often favor lower-risk ventures, discouraging disruptive, high-growth startups.

Meta CTO Andrew Bosworth opens up about the reality of Startup Life

Tushar Aggarwal — Sat, 09 Mar 2024 16:55:35 +0000

Meta’s Chief Technology Officer, Andrew Bosworth, recently shared insights into the realities of startup life, dispelling the glamorous image often portrayed in movies and media. Bosworth, who joined Facebook in its early days, highlighted the sacrifices and challenges he faced during his time at the company.

Despite the camaraderie and memorable experiences shared among early Facebook employees, Bosworth emphasized the personal sacrifices required to succeed in a startup environment. He mentioned giving up social activities and fun during his 20s, highlighting the intense dedication required to build a successful company.

Bosworth candidly shared that his early days at Facebook were far from glamorous. He described working long hours, often up to 120 hours a week, and struggling to maintain a healthy lifestyle. He revealed that he didn’t sleep for more than four hours at a time for two years, due to the demands of monitoring an anti-spam system.

The CTO highlighted the lack of support and resources available in the early days of Facebook. He mentioned that there were no experts to turn to for help, and he had to rely on his own ingenuity and perseverance to solve problems.

Despite the challenges, Bosworth’s dedication and hard work paid off, and he is now a top executive at Meta, one of the largest tech companies in the world. However, he acknowledged that not everyone’s startup journey ends in success, and many people make similar sacrifices without achieving their desired outcome.

Bosworth’s message serves as a reminder that the path to success in startups is often filled with challenges and sacrifices. While the allure of startup culture is strong, it’s important to understand the realities and be prepared for the hard work and dedication required to succeed in such a competitive environment.

Innovative solutions and global collaboration at SusHi tech startup expo in Tokyo

Tushar Aggarwal — Mon, 19 Feb 2024 04:44:40 +0000

The Tokyo Metropolitan Government’s SusHi Tech and Tokyo Innovation Base recently held a vibrant expo highlighting local and global startups in Japan. The expo featured the SusHi Tech Tokyo 2024 Global Startup Program (GSP) and Tokyo Innovation Base (TIB), both established by the Tokyo Metropolitan Government. The SusHi Tech GSP, focusing on sustainability and innovation, aims to address environmental and urban development challenges while leveraging Tokyo’s technological expertise.

One of the main goals of these initiatives is to create a more startup-friendly environment in Japan, particularly in Tokyo. TIB, on the other hand, aims to become a global hub for innovation and entrepreneurship. It seeks to support younger generations in playing a greater role in shaping the future, as exemplified by its assistance to university students in organizing startup expos.

Starting from February 15, TIB will offer a consultation service for startups, covering advice on securing funds, entering foreign markets, and receiving assistance from local governments. Keiichi Yoshimura, Director General of the Office for Startup and Global Financial Strategy at the Tokyo Metropolitan Government, emphasized the importance of incorporating artificial intelligence into daily life and discussing Japan’s evolving city landscapes.

Innovation goes beyond technology, according to Yoshimura, and also encompasses infrastructure, environment, sustainability, and culture. To encourage innovation, the GSP features the SusHi Tech Challenge, an entrepreneurial pitch contest where startups present technologies and ideas for tackling global issues. The winner receives a prize of ￥10 million JPY (approximately $66,587 USD), aiming to make the GSP the largest startup expo in Asia.

The expo also featured an exhibition space for startup companies, showcasing products and inventions with environmental soundness. One standout was Kokua’s “pasobo,” a personal disaster preparedness analysis tool that provides information and items needed in a natural disaster based on individual circumstances. Additionally, Liberaware exhibited its new micro drone, the IBIS2, which can operate in narrow spaces where larger drones cannot, with applications in various industries such as railroads and steel companies.

The expo highlighted the innovative spirit of Japanese startups and their potential to revolutionize various industries while contributing to a more sustainable future.

Google launches $10 Million fund for Ukraine-Based Startups

Tushar Aggarwal — Sat, 17 Feb 2024 14:01:21 +0000

Google has announced a significant boost for Ukraine’s burgeoning startup ecosystem with the launch of a new fund worth USD 10 million. This initiative, slated to run throughout 2024 and 2025, aims to provide equity-free cash awards to support Ukrainian startups in their growth and development.

The announcement of this fund marks Google’s continued commitment to fostering innovation and entrepreneurship in Ukraine. It comes on the heels of the success of Google’s first fund, launched in 2018, which provided support to 11 Ukrainian startups. The new fund is expected to build on this success, further fueling the growth of Ukraine’s startup ecosystem.

In a statement, Google highlighted Ukraine’s vibrant startup ecosystem, noting the country’s strong pool of talent and innovative ideas. The tech giant expressed excitement about continuing its support for Ukrainian startups, helping them scale and succeed on a global stage.

Google’s investment in Ukraine’s startup ecosystem comes at a time when the country’s tech sector is experiencing rapid growth. According to the Ukrainian Venture Capital and Private Equity Association, Ukraine’s tech sector grew by 30% in 2021, with over USD 1 billion invested in Ukrainian startups. This growth is fueled by a combination of factors, including government support, a skilled workforce, and a thriving startup culture.

The new fund will be managed by Google for Startups, an initiative that provides mentoring, training, and support to startups around the world. Ukrainian startups interested in applying for the fund can do so through the Google for Startups website.

Google’s decision to launch a second fund for Ukraine-based startups underscores the company’s belief in the potential of Ukrainian entrepreneurs to drive innovation and economic growth. It also reflects Google’s broader commitment to supporting startups and fostering innovation around the world.

Overall, Google’s investment in Ukraine’s startup ecosystem is a positive development for the country’s tech sector. The fund will not only provide much-needed funding for startups but also help raise Ukraine’s profile as a hub for tech innovation. As Ukrainian startups continue to make their mark on the global stage, Google’s support will be instrumental in helping them achieve their full potential.

Hashgraph Association and Saudi Ministry of Investment launch $250 Million Deep Tech Venture Studio

Tushar Aggarwal — Mon, 12 Feb 2024 15:59:53 +0000

In a landmark collaboration, the Hashgraph Association, a Swiss nonprofit advocating for the Hedera blockchain, has joined forces with Saudi Arabia’s Ministry of Investment to inaugurate a groundbreaking $250 million Deep Tech Venture Studio. This venture aims to propel technological innovation by supporting 500 companies in the fields of artificial intelligence (AI), blockchain, and quantum computing, in line with the ambitious goals of Saudi Vision 2030.

The Deep Tech Venture Studio, valued at $250 million, sets forth an ambitious mission to empower 500 companies between 2024 and 2028. With a focus on fostering innovation and entrepreneurship, the studio aims to provide selected companies with the necessary resources and support to thrive in the competitive global market.

Munirah Alaboudi, General Manager of Human Capital & Innovation at the Ministry of Investment of Saudi Arabia, expressed enthusiasm for the venture, highlighting its alignment with the principles of Saudi Vision 2030. Emphasizing the importance of entrepreneurship in driving economic growth and innovation, Alaboudi underscored the studio’s role in shaping a vibrant entrepreneurial ecosystem in the kingdom.

The collaboration between the Hashgraph Association and the Saudi government signifies a strategic partnership aimed at fostering a thriving digital economy. Kamal Youssefi, president of the Hashgraph Association, praised the partnership, emphasizing the organization’s commitment to contributing to the goals outlined in Saudi Vision 2030. By providing comprehensive support services, including technical engineering, training, and certification, the venture aims to nurture a new generation of tech entrepreneurs in Saudi Arabia.

The venture will adopt a phased approach, with a focus on local operations in its initial year, integrating 100 projects. Subsequent phases will expand to incorporate 200 projects each, culminating in a total of 500 empowered ventures. Startups and enterprises eligible for support may receive funding of up to $250,000 and $500,000, respectively, reflecting the venture’s commitment to nurturing innovation at all levels.

The launch of the $250 million Deep Tech Venture Studio represents a significant milestone in Saudi Arabia’s journey towards technological advancement and economic diversification. By providing financial support, technical expertise, and comprehensive services, the partnership between the Hashgraph Association and the Saudi Ministry of Investment is poised to catalyze innovation and drive sustainable growth in alignment with Saudi Vision 2030. This strategic collaboration not only benefits the participating companies but also contributes to the broader goal of building a dynamic and prosperous society in Saudi Arabia.

Shark Tank India 2: “Shark Tank has taken entrepreneurship inside the household;” Peyush Bansal in a conference by LetsVenture

Siddharth Saini — Mon, 09 Jan 2023 12:03:43 +0000

Shark Tank India’s season 02 is going on air since the first Monday of the new year, 2023. It premiered on January 02, 2023. It airs on Sony Tv and its digital sister concern Sony Liv app. This show is an Indian adaptation of an American original show called Shark Tank, which is being telecast on American Broadcasting Company since 2009. The judge in Shark Tank India season 02 are: Peyush Bansal – Co-owner and CEO of Lenskart, a premium eyewear brand in India, Vineeta Singh – Co-owner and CEO of Sugar, a cometic brand in India, Anupam Mittal – owner of Shadi.com, a matrimonial platform, Makaan.com, a real-estate platform and Mauj, a short-video platform, Aman Gupta – Co-owner of Boat, an electronic brand in India and Namita Thappar, executive board of director, Emcure pharmaceuticals and Amit Jain – Owner of Cardekho.

LetsVenture recently shared one of the video clips from one of the conferences they conducted where Piyush Bansal is talking about entrepreneurship. LetsVenture is India’s largest early-stage platform for private market investing & fundraising for investors & founders.

In the video clip shared by LetsVenture on Twitter we see, Piyush Bansal saying, “I think, Shark Tank has definitely taken entrepreneurship inside the household. I think LetsVenture took it to the entrepreneurs and VCs and Shark Tank took it to the kids.”

"LetsVenture took entrepreneurship to the VCs and entrepreneurs, and Shark Tank took it to the Indian households," says Shark @peyushbansal.

No one could have articulated it better.#SharkTankIndiaSeason2 #SharkTankIndiaS2onSonyLIV #SonyLIV pic.twitter.com/SfO9YHCPQH

— LVX (@lvxventures) January 9, 2023

Flipkart collaborates with NITI Aayog to launch Women Entrepreneurship Platform

Devanshu Singla — Tue, 12 Jan 2021 06:34:23 +0000

Walmart-owned Flipkart and NITI Aayog have come together to launch the revamped Women Entrepreneurship Platform (WEP). The Women Entrepreneurship Platform (WEP) is a first of its kind, unified access portal which brings together women from different parts of India to realize their entrepreneurial aspirations, a statement said.

The new version will also include an additional feature to offer mentorship to the women mentees with specific knowledge concerning a problem area through a dedicated online mechanism facilitated under FICCI-FLO’s Empowering the Greater 50% mission.

The idea of the platform was first mooted by NITI Aayog CEO Amitabh Kant who announced the setting-up of a Women Entrepreneurship Platform at 8th Global Entrepreneurship Summit held in Hyderabad during 2017, with an overarching theme of ‘Women First, Prosperity for All.’

“It is my hope that WEP will become a digital place for entrepreneurs to not only seek information and support but also help each other out. Serving as a forum for people’s voices to be heard – helping inform policies and programs to better suit the needs and requirements of people,” Niti Aayog CEO Amitabh Kant said

Aim of the ‘Community’ on the WEP platform is to connect women entrepreneurs who have questions or need clarifications on multiple aspects of setting up new businesses (like registration of businesses, GST, funding, effects of the pandemic, marketing), or progressing already established businesses to knowledge providing women entrepreneurs who have experience in setting up businesses and hence can contribute by solving queries.

Kalyan Krishnamurthy, Chief Executive Officer of the Flipkart Group, said MSMEs and start-ups have enabled the industry to better understand their challenges and needs. “The WEP plays a critical role in uplifting and empowering women-led businesses in their growth ambition and we are privileged to partner with NITI Aayog in enabling their journey to success,” he said in a statement.

boAt Lifestyle raises $100 million from Warburg Pincus

Devanshu Singla — Wed, 06 Jan 2021 05:38:12 +0000

On Wednesday, Headphones maker boAt said it has raised $100 million from private equity firm Warburg Pincus at a valuation of $300 million.

The company said that the capital raised will enable it to strengthen its market position, expand the product portfolio and research & development capabilities. The boAt is also looking ahead to start manufacturing in India under the Make in India initiative.

“The investment is great news for not only the company but also for the entire direct-to-consumer (D2C) sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain,” said Aman Gupta, co-founder of boAt.

The product portfolio of boAt includes headphones, earphones, smartwatches, speakers, travel chargers and premium cables.

The boAt, founded by Gupta and Sameer Mehta in 2016, started off as a seller of audio products such as earphones, headphones, soundbars and speakers, but has now positioned itself as a lifestyle brand for millennials and expanded into ‘wearables’ last quarter (in November) with the launch of its first smartwatch Boat Storm. Currently, it has approximately 150 employees working at its offices in Delhi and Mumbai. In 2018, it raised Rs 6 crore in funding from Fireside Ventures. Till now, Fireside has invested Rs 21 crore in the company.

“The electronics that go into most of these products and contribute 30-40% of the product costs are not made in India. These manufacturers are in Taiwan and China. Besides, we are behind China in the mechanicals also by 5-7 years but hopefully within the next 1-2 years, with the scale that boAt has, we will invest thoroughly in this and bring up that ecosystem where we will be on a par with China over the next 2-3 years,” said Mehta.