By launching a new app called District, the food aggregator Zomato is expanding its operations beyond its main business of providing food delivery and quick shopping. The “going-out” business, which includes dining, movies, sports ticketing, live performances, shopping, vacations, and other activities, will be consolidated by introducing this new vertical space.
Deepinder Goyal, the company’s Chief Executive Officer, made the announcement in a letter to the shareholders. In the letter, he stated, “We believe that there is an opportunity to further expand our going-out offering, building on with our dining-out business.”
Other use cases for customers in the going out area include things like going to the cinema, purchasing tickets to live performances, shopping, staying at home, and other similar activities. Some of these use cases have already been established, and others are currently being developed.
In addition, Goyal stated, “We intend to do exactly that with our new District (by Zomato) app, which is to build a one-stop destination app for going out.”
This might be a game-changer for each of these use cases. Going out has the potential to become Zomato’s third-largest business-to-consumer (B2C) business if we are successful in executing this plan.
Zomato’s Recent Financial Report Card
The major food technology company declared a net profit of INR 253 crore, which is significantly more than the net profit that it had posted during the same quarter of the previous year. Over the June quarter, Zomato’s revenue reached INR 4,206 crore, which is a year-on-year rise of approximately 74% compared to the previous year’s figure of INR 1,416 crore.
During the quarter, Zomato’s Gross Order Value (GOV) reached INR 15,455 crore, representing a 53% rise. Specifically, the organization defines GOV as the aggregated GOV of consumer-facing enterprises like meal delivery, quick-commerce, and going out.
It is essential to keep in mind that Zomato has not developed a great app in the same way that its competitors Swiggy and BigBasket have. The Going-out business vertical of Zomato is a combination of the Zomato Live and Dining-out business verticals.
As a result of this decision, Zomato is now in competition with apps such as BookMyShow. In June, Zomato confirmed the exchanges that it is, in fact, in negotiations with Paytm to purchase the latter’s media and ticketing operations.
The technology industry, particularly in the realm of digital integrity and security, plays a crucial role in shaping online experiences for billions of users worldwide. With the rise of social media platforms, ensuring that content adheres to community guidelines and regulatory policies has become an essential function. Integrity engineering focuses on protecting users from harmful content, misinformation, spam, and various forms of online abuse.
Arjun Reddy Lingala, with his expertise in software and data engineering, has been instrumental in tackling critical global events such as the US 2020 elections, COVID-19 misinformation, and the Black Lives Matter movement. “The challenge is not just about detecting harmful content but about acting on it swiftly to prevent widespread impact,” he explains. “Integrity solutions must be scalable, efficient, and adaptable to evolving risks,” he emphasizes.
He played a key role in the Rapid Response system, which was important in detecting and mitigating policy-violating media. This system has helped in crucial moments such as the US 2020 elections, COVID-19 misinformation, and the Black Lives Matter movement by identifying and removing content that violates platform policies. “Handling misinformation is a massive challenge, but we built a framework that ensures rapid detection and action,” he shares. These contributions have helped create a proactive approach towards content moderation, ensuring the platform remains safe and reliable for users worldwide.
The Rate Limiting System has been another major breakthrough in addressing integrity challenges. “Spammers constantly evolve their tactics, and we needed a solution that adapts dynamically to new threats,” he notes. This system, which processes about 2 billion events per minute, has successfully mitigated various types of spam, including comment spam, messaging spam, live video comment spam, and link spamming. The system’s ability to configure rate-limiting parameters based on specific keys, such as account, IP, or username, ensures that spammers are restricted effectively without impacting genuine users.
The Observation Layer, which acts as a middle layer between products and problem areas, providing a one-stop solution for integrity needs, was a critical project he worked on. Without this solution, there would be excessive API calls between different teams, making it difficult to track issues effectively. “The Observation Layer ensures that all products, from posts and comments to live videos, are connected to integrity solutions with an SLA of less than 800ms,” he explains. The impact of this project has been significant, handling over 5 billion events per minute and improving operational efficiency across multiple teams.
Building and maintaining large-scale integrity systems comes with its own set of challenges. One of the biggest hurdles Arjun faced was integrating with various partners across multiple teams, each with unique requirements and use cases. “Collaborating across multiple functions, understanding diverse datasets, and ensuring smooth integrations require a deep technical and strategic approach,” he says. His ability to navigate these challenges successfully has allowed him to develop scalable integrity solutions that benefit the entire organization.
Arjun believes that the future of integrity engineering lies in continuous innovation and adaptation. “The threats we face today will evolve, and we must always be a step ahead,” he asserts.
He advocates for a combination of machine learning and real-time monitoring to detect harmful content more accurately and efficiently. While ML models take time to train and gain accuracy, regex-based filtering, text extraction, and rate limiting can be used as interim solutions. He also emphasizes the importance of transparency; ensuring users understand the actions taken on their content to maintain trust.
Through his dedication and technical expertise, Arjun Reddy Lingala has set new standards for content moderation, ensuring that harmful media is swiftly identified and removed, spammers are kept at bay, and platform safety is upheld at a massive scale.
The Rashtriya Gokul Mission is an initiative of the Department of Animal Husbandry and Dairy that aims to improve milk output and productivity, increase genetic diversity among bovines, and preserve indigenous bovine breeds.
All states and union territories are being supported by the department’s Livestock Health & Disease Control Programme (LHDCP), a central sector scheme that aims to reduce animal health risks through preventative vaccination, capacity building of veterinary services, disease surveillance, and veterinary infrastructure strengthening. Immunisation programs against classical swine fever (CSF), peste des petits ruminants (PPR), foot and mouth disease (FMD), and brucellosis (BMD) receive full funding from the federal government.
Assistance to States for Control of Animal Diseases (ASCAD) aims to control exotic, emergent, and zoonotic diseases that are economically important to the states, with funding split 60:40 between the federal government and the states; for hilly and northeastern states, the funding is 90:10, and for UTs, the funding is 100%.
Furthermore, as part of the ESVHD-MVU component, all funds are allocated to the purchase and customisation of Mobile Veterinary Units (MVUs). The ratio of recurring operational expenditures is 90:10 for the North Eastern and Himalayan states, 60% for all other states, and 100% for UTs.
These MUVs will subsequently provide veterinary healthcare services such as disease diagnosis, treatment, vaccination, minor surgical interventions, audiovisual aids, extension services, and more to farmers right at their doorsteps through a Toll-Free Number (1962).
Reacting to these developments, Yachneet Pushkarna, CEO, Hari HariBol Dairy Pvt Ltd. stated, “The Union Budget 2024 marks a pivotal step toward realizing India’s dairy potential. By prioritizing investments in technology, infrastructure, and disease control, the government is creating a robust framework for dairy growth. The focus on modernization and innovation will significantly boost milk production and enhance sustainability. Abolishing the angel tax further encourages a supportive startup environment, driving productivity across agriculture and dairy sectors. This budget is set to propel India’s dairy industry to new heights.”
Steps to Enhance Milk Production
The districts that do not yet have artificial insemination coverage will have it expanded through the implementation of a nationwide program.
Quicker genetic upgradation of bovines through an expedited breed improvement program that makes use of in vitro fertilisation (IVF) technology.
The use of sex-sorted semen in an accelerated breed improvement program has resulted in female calves that are more than 90% accurate.
Creating bulls with exceptional genetic quality through a systematic approach to progeny testing and pedigree selection.
Providing farmers in rural India with access to high-quality artificial insemination services through MAITRIs.
To promote entrepreneurship and increase access to disease-free heifers, a breed multiplication farm will be established.
Enhancing Feed and Fodder Supply Chain
To guarantee the availability of high-yielding fodder varieties, a 100% incentive is given for the production of all types of fodder seeds. As part of its “Entrepreneurship Development Programme” (EDP), the government offers qualifying businesses a 50% capital subsidy to help fund the construction of facilities that can make Total Mixed Ration (TMR), fodder blocks, silage, and hay. In addition, the Animal Husbandry Infrastructure Development Fund (AHIDF) helps finance the nation’s massive production of animal feeds, TMR, silage, bypass protein, mineral mixture, feed supplements, and premixes.
With loan assistance of $500 million and a total project cost of $1288.24 million (INR 7,662.47 crore), the Government of India and the World Bank have signed an agreement for the construction of the Green National Highway Corridors Project (GNHCP) in the states of Himachal Pradesh, Rajasthan, Uttar Pradesh, and Andhra Pradesh. According to the agreement, the GNHCP will have an aggregate length of 781 kilometers. It is anticipated that the final package of the GNHCP project will be finished by May in the year 2026.
Safe and Green Highway
Demonstrating a safe and environmentally friendly highway while taking into consideration climatic resilience and the application of green technologies is a component of the project. Through the utilization of cement-treated sub-base and recycled asphalt pavement, it involves the reduction of natural resource consumption.
Additionally, the project encourages the utilization of locally sourced or marginal materials, such as lime, fly ash, and waste plastic. In addition to that, it employs bioengineering techniques for slope protection, such as the utilization of coco fiber/jute erosion control blankets with shrub/grass plantations, hydroseeding, shotcrete crib walls with vegetation, bamboo plantations, hedge brush layers, interlink chain mesh with grass strips, Geocell with hydroseeding, and other similar techniques.
Reducing Carbon Emission
It is anticipated that the implementation of green technologies and bioengineering solutions, in particular in hilly regions, will result in a reduction of carbon emissions and will guarantee the preservation of natural resources throughout the project’s life cycle, which includes both the construction and operating phases. The purpose of the project is to create roads that are not only smooth and motorable but also provide connectivity to the surrounding communities regardless of the weather. As a consequence, this will lead to the development of the region’s socioeconomic system, as well as to increased trade and connection within the region. Because the selected stretches will increase connectivity to the inner regions of the country, employment possibilities and inclusive growth prosperity will be improved as a result. This will be accomplished by bringing the selected stretches closer to the mainstream areas.
Stephan Morgenstern’s rise in the world of multi-level marketing (MLM) is a testament to his exceptional drive and vision. From his days in the slums of Berlin to the skyscrapers of Dubai in the UAE, Morgenstern Stephan’s journey has been marked by resilience and innovation. His colleagues and counterparts continue to attest to his unique blend of creative thinking and sharp business acumen to this day, qualities that have set him apart in an increasingly competitive industry. Yet, Stephan Morgenstern is more than just a successful businessman. His passion for self-improvement and personal growth is as pronounced as his professional achievements. This dedication extends beyond his own interests and is evident in his philanthropic efforts.
Through his FutureNet charity foundation, Morgenstern Stephan has crafted a legacy of positivity, impacting lives far beyond the confines of the corporate world. His foundation underscores a profound belief: true success is not merely personal but also involves lifting others as we progress. This message remains the core of the person Morgenstern Stephan has morphed into throughout his professional career. Morgenstern Stephan’s contributions to community development have not only made a tangible impact but also inspired and challenged his peers to consider their broader social responsibilities.
Stephan Morgenstern’s life can simply be described as one from grass to grace. From a modest beginning in Berlin to a flourishing life in Dubai, his story is one of transformation—not just in terms of his personal circumstances but also in redefining what it means to succeed in both business and life.
Morgenstern Stephan: The Birth and Evolution of FutureNet
Morgenstern Stephan’s professional journey with FutureNet began in 2014, where he initially offered consultancy services focusing on marketing, printable materials, merchandising, and sponsorship partnerships. By 2016, he joined the company officially, continuing in the role he held while working as an external consultant. Upon moving to the UAE, he remained a pivotal figure in the company’s growth until he sold his shares in 2019.
The story of FutureNet is a prime example of how swiftly things move in the digital age. The founders understood that in today’s rapid internet environment, you can’t afford to spend too long developing an idea. By the time you launch, someone else might have beaten you to it, or the market might have shifted, Morgenstern Stephan explains.
FutureNet began as a free platform where users could earn money. It was designed to be flexible enough to adapt quickly to new ideas. The significant breakthrough came with the creation of a social media platform. “It was a strategic move — social media was, and still is, transforming how we live and interact,” Morgenstern Stephan stated.
In an interview conducted at his apartment in Dubai, Morgenstern Stephan was quoted as saying, “The concept was straightforward yet powerful: create a social media platform where users could also generate income. They launched in 2014, starting from scratch. The growth was phenomenal—by 2017, we had reached a million partners. That’s remarkable for any MLM company.” Morgenstern Stephan continued; “But the company didn’t stop there. They kept expanding their offerings to include advertising opportunities, games, and a massive shopping platform with over 400 million products. You can book flights, reserve hotels, and even shop on Amazon through the platform.” One of the company’s most innovative initiatives was the opening of a café in Warsaw. “We are an online company, but everything we do in the physical world makes the company more tangible for people. It’s a smart way to bridge the digital and physical worlds,” Stephan stated.
Philanthropy and the FutureNet Foundation
Stephan Morgenstern
A cornerstone of Stephan Morgenstern’s career is his work with the FutureNet Foundation, which he established. Headquartered in Wrocław, Poland, the foundation champions innovative, extraordinary, and bold solutions, particularly in medicine and technology. Giving back to the society at large was very important for Morgenstern Stephan, and remains an achievement in his illustrious career he’s most proud of. According to him, the foundation aims to make a significant impact and shape a better future in collaboration with its stakeholders. He went on to state that the foundation’s core mission is to nurture projects that lead to groundbreaking discoveries, bridging the gap between laboratory research and practical applications, ensuring that scientific achievements become tangible benefits for everyone.
Stephan Morgenstern continued by emphasizing on the foundation’s dedication to active participation in a variety of charitable initiatives. He explained that the foundation has a keen interest in supporting innovative, scientifically impactful and social projects, showcasing its commitment to challenging norms and fostering significant and progressive change. Under Stephan Morgenstern’s leadership, the foundation has shown a strong global commitment to reducing human suffering. The foundation’s efforts extend to the most remote corners of the globe, addressing a wide array of needs ranging from essential resources to intricate social issues. No crisis is too daunting, and no location is too far for their reach.
Morgenstern Stephan shared some stories about the charity work of the foundation he holds dear. One particularly memorable case involved Kausen, a 6-month-old girl from Sangla, India, diagnosed with a ventricular septal defect. The foundation provided financial support for her open-heart surgery in Mumbai in March 2019. The operation was successful, and Kausen is now thriving under continued medical supervision. Another touching story is that of Wiktoria, an 8-year-old girl who was born with multiple severe health conditions, including meningeal spinal hernia, spina bifida, partial lower limb paresis, hydrocephalus, and neurogenic bladder. From birth, she faced substantial challenges. Stephan Morgenstern, through the foundation, stepped in to cover the expenses for Wiktoria’s essential hip surgery. Following the successful procedure and ongoing intensive rehabilitation, Wiktoria has made impressive progress towards full recovery. Stephan Morgenstern proudly shared that she completed her first year of school in 2019, marking a significant milestone. Her mobility has greatly improved, enabling her to walk more efficiently and actively join her classmates in games.
The foundation has also run special holiday campaigns, such as providing modern computer equipment to children in an orphanage in Warsaw in 2018, helping them play, learn, and develop along the right track.
Life in the UAE: A New Chapter
Morgenstern Stephan UAE
Living in the UAE has been a blessing for Stephan Morgenstern and his family. His involvement with FutureNet led him to recognize the immense potential of the UAE, prompting him to relocate to Dubai in 2017. It was at a business conference in Poland where Stephan met Anna, sparking a romance that eventually led her to join him in the UAE. Their relationship blossomed, culminating in a romantic Valentine’s Day wedding on February 14, 2022, in Dubai. For Stephan Morgenstern and Anna, the UAE offers a perfect blend of luxury and adventure. They frequently embark on desert safaris, indulge in Dubai’s renowned shopping scene, and savour meals at world-class restaurants. Beaches and water sports provide refreshing escapes from the desert heat, while various sightseeing tours allow them to explore the rich culture and history of the region.
The closeness of Stephan and Anna as a couple stands out. Whether they’re strolling in a mall, lounging on a beach, or exploring a new attraction, they are invariably together, sharing each moment of their adventure in the UAE. This new chapter in Dubai has brought them not only professional success but also personal fulfilment and a deepening of their bond. For Anna and Morgenstern Stephan, they are living a dream and enjoying their brand new life in the UAE.
Stephan Morgenstern: A Legacy of Innovation and Philanthropy
Morgenstern Stephan Dubai
Over the course of his impressive 30-year career, Stephan Morgenstern has established himself as a formidable presence in the dynamic world of MLM. Beginning with an insurance MLM company, he quickly demonstrated an innate talent for the industry’s unique challenges and opportunities. Throughout his journey, he has showcased remarkable versatility, finding success selling a diverse array of products, including health supplements, wellness drinks, gourmet coffee, precious metals, and real estate.
Stephan Morgenstern’s remarkable success can be attributed to his extraordinary skill in building strong networks and efficient infrastructures, which are fundamental in the MLM industry. He has a unique talent for motivating others to join innovative and dynamic new ventures, guiding them to realize and pursue their own paths to success within the industry. This ability has not only driven his own achievements but has also played a crucial role in the expansion and success of many MLM organizations throughout his career. Stephan Morgenstern consistently demonstrates a deep commitment to endorsing products in which he has genuine confidence. This sincerity has been instrumental in earning the trust of both his colleagues and customers. Much of his career has been focused on health-related MLMs, and he continues to incorporate many of these products into his daily routine, highlighting his personal belief in their effectiveness and quality. His expertise in constructing and managing extensive networks has been the cornerstone of his long-lasting success in the MLM industry. He blends sharp business insight with a genuine desire to help others succeed, which has established him as a respected and influential leader. His ability to navigate shifting market conditions and adopt new technologies has kept him at the leading edge of the industry for over thirty years.
Throughout his career, Stephan has achieved numerous milestones, including attaining top leadership roles in several MLM companies, mentoring countless individuals toward financial success, and earning industry accolades for his contributions. His impressive track record, spanning multiple economic cycles, underscores his resilience and adaptability. A defining feature of Stephan’s approach is his strong emphasis on ethical business practices and sustainable growth. He is a staunch advocate for transparency in MLM operations and dedicates himself to educating both potential recruits and team members on the realities of building a successful MLM business.
This unwavering commitment to integrity has earned him a reputation as a trustworthy leader in an industry that often faces skepticism. As Stephan Morgenstern’s career progresses, he remains deeply enthusiastic about the potential of MLM to open doors for aspiring entrepreneurs. Frequently speaking at industry events, he shares his wisdom and experiences to motivate the upcoming generation of MLM professionals. His lasting success and the positive influence he has had on numerous individuals serve as a powerful testament to the capabilities of the MLM business model when implemented with expertise, honesty, and dedication.
A Balanced Approach to Success
Morgenstern Stephan Dubai
Stephan Morgenstern’s path from the brutal Berlin streets to Dubai showcases an exceptional blend of business acumen and humanitarian insight. His professional achievements highlight his ability to innovate in the digital era, yet it is his philanthropic efforts through the FutureNet Foundation that set him apart. By leveraging his networking skills for charitable purposes, Morgenstern Stephan has reshaped the concept of modern entrepreneurship. As he and Anna make their home in the UAE, Stephan’s narrative reflects a harmonious balance between professional success, personal satisfaction, and social responsibility.
Stephan’s life story is marked by resilience, ambition, and generosity. He has climbed the ranks of the MLM industry and beyond, driven by a relentless pursuit of his goals and a commitment to giving back to society. His personal philosophy and approach to life have enabled him to navigate numerous challenges and triumphs, moulding him into the accomplished and respected figure he is today. Looking ahead, Stephan remains focused on his mission to create positive change and inspire others to follow suit.
Conclusion
Stephan Morgenstern’s remarkable professional journey stands as a testament to his vision and perseverance. His MLM career is distinguished by noteworthy accomplishments, including the pioneering development of FutureNet, which has transformed the social media landscape by incorporating monetization opportunities for its users. His philanthropic activities, especially through his charity foundation, underscore his dedication to using his success for the greater good. Stephan’s story serves as a powerful reminder that true success encompasses not just personal achievements but also a significant positive impact on the world.
The Venture Investing Accelerator, an exclusive program for first-time and beginner investors, was developed by IIMA Ventures (previously IIMA-CIIE). Its goal is to equip participants with the information and abilities necessary to flourish in early-stage investing.
Aspiring and inexperienced investors can get the education and coaching they need to succeed in venture capital through the accelerator program. Participants will have the opportunity to learn from renowned leaders, IIMA professors, and IIMA Ventures partners. They will also receive individualized coaching based on their specific needs.
Now is a great moment for people to understand how to invest efficiently in venture capital, as this asset class is growing. Supriya Sharma, Partner at IIMA Ventures, stated that the program will provide participants with essential knowledge, practical insights, and guidance from experienced investors and professionals in the field.
“We aim to create a new generation of savvy investors who can navigate the complexities of early-stage investing and drive meaningful impact in the startup ecosystem,” she stated, drawing on the enormous experience and resources of IIMA Ventures.
What Does the Program Offer?
In addition to offering individualized training for individuals establishing their own funds, the program provides a flexible, experience-based approach that allows participants to choose their own milestones and shadow relevant elements of the venture investing process, such as deal scouting, structuring, screening, term sheet draughting, monitoring, and exit preparation.
Investors in the early stages of a company’s development are its target audience. This includes family offices, micro VCs, and corporate venture offices. A three-day boot camp will be held on the IIMA Campus from August 8-10, 2024, as part of the educational program.
The difficulties that new investors and fund managers encounter in finding interesting companies to invest in or getting good returns on their investments are highlighted by IIMA Ventures. In order to help new investors make a big splash in the startup scene, the firm plans to draw on its fifteen years of experience as a major investor.
Startup Scenario in India
The number of businesses in India is expected to more than double between the years 2020 and 2024, according to data from IIMA Ventures, indicating a phenomenal development in the startup environment. Also, from 2015 to 2022, the number of investors increased by a factor of nine. Startups’ access to funding has been enhanced as a result of government legislation and an increase in capital influx, which have further fuelled entrepreneurial activities in numerous places.
About IIMA Ventures
The Indian Institute of Management Ahmedabad (IIMA) Ventures is an innovation continuum that was formed in 2002 as an entrepreneurship center. Its mission is to study, educate, incubate, accelerate, and invest in early-stage firms, aspiring entrepreneurs, and investors.
Over a million people have been mentored by IIMA Ventures, which has also been a pioneer in a variety of initiatives, such as India’s first accelerator, idea scouting competition, climate fund, inclusive fintech platform, and Stay Hungry Stay Foolish, an entrepreneurial bestseller. IIMA Ventures has also been responsible for the acceleration of 1,700 startups and the catalysis of 700 companies.
The “Innovation and Agri-Entrepreneurship Development” program is being implemented by the Department of Agriculture and Farmers’ Welfare as part of the Rashtriya Krishi Vikas Yojana (RKVY) program. The program’s objective is to encourage innovation and agri-entrepreneurship by offering financial and technical assistance to startups. A total of 24 RKVY Agribusiness Incubators (R-ABIs) and five Knowledge Partners (KPs) have been appointed to provide training and incubation for entrepreneurs and the implementation of this initiative.
As part of the program, entrepreneurs and startups in the agriculture and allied sectors can receive financial assistance of up to INR 5 lakh during the idea/pre-seed stage and up to INR 25 lakh during the seed stage. This assistance is intended to facilitate the launch of their products, services, business platforms, and other similar items into the market and to assist them in scaling up their operations.
Under the initiative, five key personnel (KPs) and twenty-four research and business incubators (R-ABIs) are responsible for providing training and incubation to startups. To create a platform for the development of agri-startups by linking them with various stakeholders, the Government of India organizes a variety of programs at the national level. These programs include agri-startup conclaves, agri-fairs and exhibitions, webinars, and workshops.
Per the “Innovation and Agri-Entrepreneurship Development” program, a total of 1708 agricultural startups have received financial assistance for INR 122.50 crore, which has been distributed in installments through a variety of KPs and R-ABIs between the years 2019-20 and 2023-24.
Industry Reaction
The Government of India has made significant strides in advancing women’s participation in agri-entrepreneurship. However, there remains an opportunity to further enhance these efforts by improving access to technology, market opportunities, and targeted mentorship.
Sharing his views on the subject, Amit Shrivastava, CTO, nurture.farm opined, “In this context, companies like nurture.farm play a crucial role in reinforcing these initiatives. Nurture.farm’s solutions, such as Mausam Kavach (weather insurance), advanced farm mechanization, and sustainable crop programmes, address key challenges and lay the groundwork for sustainable agriculture. These offerings contribute to building a more resilient agricultural ecosystem, which indirectly benefits women entrepreneurs by fostering a more robust and dependable agricultural infrastructure. Additionally, nurture.retail makes a significant contribution by offering tailored rural credit solutions, high-quality products, and competitive pricing. This support enables agri-retailers to manage their finances effectively and streamline their operations, thereby creating a more supportive environment for women in agriculture.”
“By aligning with government initiatives and leveraging private sector innovations, we collectively advance towards a more inclusive agricultural sector, paving the way for sustainable growth and enhanced opportunities for women entrepreneurs,” he added further.
Listed below are the specifics of the financial assistance that was given to new businesses on an annual basis:
Financial Year
Total Number of Startups Supported
Total Funds Released to Startups (in Installments)
2019-20
58
INR 3.13 crore
2020-21
588
INR 27.43 crore
2021-22
277
INR 20.34 crore
2022-23
253
INR 24.35 crore
2023-24
532
INR 47.25 crore
Total
1708
INR 122.50 crore
What is Rashtriya Krishi Vikas Yojana?
A major initiative of the Indian government’s Ministry of Agriculture and Farmers’ Welfare (MoA&FW), the Rashtriya Krishi Vikas Yojana (RKVY) seeks to improve agricultural and related infrastructure. With 10% of yearly expenditure (including 2% administrative cost), a new component under the redesigned plan RKVY-RAFTAAR was launched in 2018–19 to encourage agripreneurship and agribusiness through financial support and the development of an incubation environment.
By pooling resources, RKVY-RAFTAAR encourages the development of new agricultural ventures through agribusiness incubation. As part of this process, participating academic, technical, managerial, and R&D institutions around the nation will make use of their incubation facilities and skills to their advantage, either individually or in combination. The current institutional agribusiness incubators would get need-based funding to bolster their operations.
The pharmaceutical industry is one target of the Startup India Initiative, announced on January 16, 2016, to encourage investment and foster innovation across various sectors. The three main programs that make up the initiative are the Credit Guarantee Scheme for Startups (CGSS), the Startup India Seed Fund Scheme (SISFS), and the Fund of Funds for Startups (FFS).
The Startup India Initiative was initiated on January 16, 2016, to promote innovation and encourage investments across various businesses, including the pharmaceutical sector. The Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS) are the three main programs that are included in this project.
The Biotechnology Industry Research Assistance Council (BIRAC), which falls under the Department of Biotechnologies, provides financial assistance through various programs and initiatives. Some of these programs include the Biotechnology Ignition Grant (BIG), Sustainable Entrepreneurship and Enterprise Development (SEED), and Launching Entrepreneurial Driven Affordable Products (LEAP) schemes. Each entrepreneur receives cash ranging from INR 30 lakhs to INR 100,00,000 which enables them to develop their concepts further, create proofs-of-concept, conduct pilot projects, and eventually commercialize their products and technology. Through the i4 program and the PACE program, BIRAC also encourages research and innovation in the field of biotechnology.
It is also important to point out that the Department of Pharmaceuticals has initiated a program known as the Scheme for Promotion of Research and Innovation in the Pharma-MedTech sector (PRIP). Under Component BIII of the PRIP program, twenty-five out of a total of one hundred and fifty research projects in the six priority areas that have been identified are for new businesses in the pharmaceutical industry.
There are a total of 1,40,803 companies that have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of the 30th of June 2024. Of them, 2,127 are from the pharmaceutical industry. There were 1397 start-ups in the pharmaceutical industry that were recognized by the DPIIT throughout the course of the past three years.
Future Plans
The government is currently in the process of implementing three flagship schemes as part of the Startup India strategy. These schemes are the Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS). By these Schemes, assistance is provided to new businesses in all fields and industries, at different phases of their business cycle; this includes startups. Incubators are the distribution channel via which SISFS offers financial assistance to seed-stage entrepreneurs.
Updated Status of Schemes and Initiatives
In the fiscal year 2021-22, the initiative was initiated for four years, with a total capital of INR 945 crores. 205 incubators have been approved for a total of INR 862.84 crore under the SISFS programme as of the 30th of June, 2024. It is the Small Industries Development Bank of India (SIDBI) that is responsible for the operationalization of the Foreign Funds Service (FFS), which was intended to stimulate investments in venture capital. Alternative Investment Funds (AIFs) that are registered with the Securities and Exchange Board of India (SEBI) receive funding from SIDBI. These AIFs then invest in new businesses. As of the 30th of June 2024, 138 AIFs have been committed to receiving a total of INR 10,804.7 crore under the FFS. The CGSS is being introduced to make it possible for DPIIT-recognized companies to obtain loans without the need for collateral through approved financial institutions, also known as Member Institutes (MIs). The National Credit Guarantee Trustee Company (NCGTC) Limited is the entity responsible for the implementation of the system, which has been operationalized on a pilot basis since the first of April in 2023. As of the 30th of June in the year 2024, 182 loans with a total value of INR 426.09 crore have been guaranteed to startups that serve as beneficiaries. Through these initiatives, the government of India has demonstrated its dedication to establishing a vibrant environment for startup companies in the country.
During the past three years, the state of Uttar Pradesh has seen the establishment of 214 new industries that fall within the Pharma Sector. Of these, 176 units are operating in the medical device sector, while 38 units are operating in the drug and formulations sector.
An Israeli drone business called UAV Dynamix and an Indian deep tech drone and Shart Tank India-featured firm called InsideFPV have signed a strategic Memorandum of Understanding (MoU). InsideFPV is changing the game when it comes to consumer, agricultural, and defence drones. UAV Dynamix has also committed to receiving an estimated 10,000 drones from InsideFPV over the next decade.
The goal of the memorandum of understanding is to leverage the combined technical expertise of the two companies to develop ground-breaking drone solutions that will propel their global expansion. There will be a great chance to exchange technology, both software and hardware, thanks to the relationship. The collaboration will also highlight the creation of practical and effective solutions utilizing cutting-edge technologies from both organizations. Over the past few years, InsideFPV’s drones have gained a lot of traction and support from the Indian defence forces in various demonstrations. Now, they are aiming to build trust with important global defence partners so that they can accelerate their expansion. Additionally, the arrangement is in line with InsideFPV’s long-term goal of becoming the world’s leading drone manufacturer by consistently exceeding expectations in innovation, creativity, and execution.
With its cutting-edge drones, the Indian firm just hit a new benchmark, with a recorded flight duration of 141 minutes on a single battery. There are current preparations afoot for the Indian drone business to shatter the Guinness World Record. The record-setting flight by the Indian drone business was the result of years of research and development, man-hours spent in the lab, and intensive testing in the field.
The Indian drone manufacturer now owns three patents and a plethora of technical know-how. As part of its first phase of development for its defence vertical, InsideFPV has surpassed another milestone in remotely commanding drones, this time from 7,000 km away (the Netherlands, Oman, and Bangalore). Also, the research team at InsideFPV has done a fantastic job of finding ways to make drone batteries last longer.
“As a company dedicated to solving problems through extensive R&D, we tackled the issue of flight time, leading to significant improvements,” explained InsideFPV CEO Mr. Arth Chowdhary, who provided a detailed account of the partnership. Since drone technology is still in its infancy in India, we set up drone labs in universities and high schools. In support of India’s Make in India program and our goal of becoming a world leader in drone production, we have agreed to supply 10,000 drones. We are looking forward to conducting more research and development in the drone industry.
“From surveillance to surveying operations, the growing dependence of UAVs is critical to shaping the future of modern aviation,” stated Mr. Tal Appelbaum, CEO of UAV Dynamix, emphasizing the increasing demand for UAVs in several areas of contemporary aviation. Drone technology in aerial imagery, surveillance, and surveying will make a significant impact on the future of this sector, thanks to InsideFPV, India’s technological prowess, UAV Dynamix’s vast network of foreign pilots, and their extensive experience in the field.
Drone Labs is a research arm of the Gujarat-based company that provides drone education to students at army academies through a variety of interactive learning programs. Its goal is to get people talking about drones and excited about STEM education so that they may use Drone Arena as a tool for experiential learning. The use of cutting-edge drone platforms, curriculum support, technical aid for teachers, and training for students in electronics, coding, and robotics all contribute to this goal. Anyone can learn to fly drones in a risk-free environment thanks to InsideFPV’s innovative simulator, which powers The Drone Labs. In this training program, newcomers can practice in a variety of settings to hone their skills and gain self-assurance. Anyone, regardless of age, gender, or level of education, is welcome to participate in this program’s training sessions.
Bengaluru will be home to one of Carl Zeiss’s largest lens manufacturers, as the German medical technology and optics business prepares to invest $10 billion in the city.
With an investment of INR 2,500 crore, the new plant will produce five times as much as the company’s current facility, which is also located in Bangalore but in a separate part of the city. Miguel G. Diaz, MD of the India business, told the media that the company is not only doing this, but it is also increasing its research and development efforts in India. This is because the company leverages India to work on solutions that are implemented globally.
Investing in India is a smart move because the country is a great place to do business. Further, the economy is expanding rapidly.
Strengthening the Manpower by Hiring Around 800 New Employees
In preparation for the opening of its new facility at the end of 2024, Carl Zeiss India intends to recruit an extra 800 workers. Carl Zeiss first set up shop in India in 2012, after breaking into the country’s market in 1998. The planned facility is going to integrate three existing facilities in Bengaluru, while the corporation currently operates four units in India. Europe, Asia, the MENA, and the Middle East are some of the locations that receive more than 60% of the company’s manufactured goods.
Revenue Carl Zeiss Generating From Its Indian Units
The company’s total sales in India was INR 1,500 crore last year, and it employs 1,400 people across all of its activities. The company claims that all of its businesses are experiencing include, making it a market for everything.
The German manufacturer has five divisions in India. One of them is medical technology, which brings in INR 800-900 crore annually. The other two divisions are industrial quality solution (IQS), which makes metrological and dual-use equipment, research microscopy (RMS), vision care (VIS), and consumer products (COP), which include cinema and photography lenses, binoculars, and sports optics.
About Carl Zeiss
Carl Zeiss, an optician, started the company in 1846. Since then, it has evolved into a world leader in producing optical instruments and lenses with the highest levels of perfection. Medical technologies, semiconductor manufacturing, photography, and many more fields make use of Zeiss’s cutting-edge products. Zeiss claims that it has a long history of innovation in optics, and the company is just as well-known for its contributions to image technology, where it has established benchmarks for accuracy and reliability. The corporation will always be at the forefront of technical innovation because of its dedication to R&D.
Rishabh Rathi
