Indian startups no longer need yearly fund allocation, not many have lost unicorn status: Piyush Goyal
4 days, 17 hours ago

Indian startups no longer need yearly fund allocation, not many have lost unicorn status: Piyush Goyal

Live Mint  

Union Minister of Commerce and Industry Piyush Goyal, on Saturday, January 4, said that it is no longer necessary for Indian startups to receive annual allocations, reported the news portal CNBC-TV18. The Minister cited that the operating agency for the Startup India programme, SIDBI, has started receiving returns, with nearly ₹1,600 crore filling up its corpus of funds, according to the news report. India now holds the world’s third-largest startup ecosystem with over 1.5 lakh startups across 80 per cent of the districts around the nation, reported the news portal. Goyal added that the government does not interfere when a startup’s valuation falls due to mismanagement, and also, when a 19-year-old was running Zepto took the company to become a unicorn, reported the news portal.

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Karnataka govt welcomes quick commerce start-up Zepto to Bengaluru as it shifts its base from Mumbai
5 months ago

Karnataka govt welcomes quick commerce start-up Zepto to Bengaluru as it shifts its base from Mumbai

Hindustan Times  

After quick commerce start-up Zepto announced changing its headquarters to Bengaluru from Mumbai, Karnataka government has welcomed the unicorn to the tech capital. Karnataka govt welcomes quick commerce start-up Zepto to Bengaluru as it shifts its base from Mumbai Karnataka IT minister Priyank Kharge said that Bengaluru is the most preferred place for start-ups as they draw huge funding for …

India marks 1.4 lakh registered startups, Maharashtra tops list followed by Karnataka, Delhi
5 months, 1 week ago

India marks 1.4 lakh registered startups, Maharashtra tops list followed by Karnataka, Delhi

New Indian Express  

NEW DELHI: The number of startups in India has increased to more than 1.4 lakh, highlighted Union Minister of State for Commerce and Industry, Jitin Prasada, in Rajya Sabha. He stated that the Government, to build a strong ecosystem for nurturing innovation, startups, and encouraging investments in the startup ecosystem of the country, launched the Startup India initiative on January …

Budget 2024: Abolition of angel tax will improve startup ecosystem, foster innovation in Odisha
5 months, 2 weeks ago

Budget 2024: Abolition of angel tax will improve startup ecosystem, foster innovation in Odisha

New Indian Express  

BHUBANESWAR: The startups have much to cheer about the announcements made by Union Finance minister Nirmala Sitharaman on Tuesday. Addressing a long-standing demand, she introduced significant reforms, including abolition of angel tax for all investors, to support small businesses and foster innovation. “The abolition of the angel tax for all classes of startup investors could be a game-changer for the …

Startup founders in Hyderabad eye innovation, relief as budget abolishes angel tax
5 months, 2 weeks ago

Startup founders in Hyderabad eye innovation, relief as budget abolishes angel tax

New Indian Express  

HYDERABAD: Startup founders and employees in Hyderabad welcomed the abolition of angel tax by the Centre in the Union Budget on Tuesday, terming the decision a game changer. A 30% angel tax was being levied on investments received by startups from external investors, on the amount going beyond the fair market value of a company. If a firm’s fair value …

How can India become the No. 1 nation for startups? Amitabh Kant has some advice
9 months, 2 weeks ago

How can India become the No. 1 nation for startups? Amitabh Kant has some advice

India Today  

In the past eight years, India has transformed from having just 300 startups to becoming the third largest startup ecosystem globally with over 1,12,000 startups, said G20 Sherpa and former Niti Aayog CEO Amitabh Kant during the inaugural keynote address at the 'Startup Mahakumbh' held in New Delhi between March 18 and March 20. Here are the five pivotal things …

Tax Benefits For Startups, Sovereign Wealth & Pension Funds Extended to March 2025
11 months, 1 week ago

Tax Benefits For Startups, Sovereign Wealth & Pension Funds Extended to March 2025

News 18  

In a respite for the startup ecosystem, the Centre on Thursday announced to extension of tax benefits for startups and investments made by sovereign wealth and pension funds to March 2025. Certain tax benefits to startups and investments made by sovereign wealth or pension funds as also tax exemption on certain incomes of some International Financial Services Centre units are …

Piyush Goyal Urges Unicorn Collaboration For Startup Capital Access
11 months, 1 week ago

Piyush Goyal Urges Unicorn Collaboration For Startup Capital Access

Deccan Chronicle  

New Delhi: Union commerce and industry minister Piyush Goyal on Tuesday urged the unicorns to come together and set up a unicorn club or association that would come up with solutions for access to capital for start-ups in the country. His statement came after the recently held Start-up India Innovation Week and chaired a unicorn roundtable to celebrate the growth …

Art of a Good Unicorn | Startup founders, unlock golden opportunities through PE-VC investments
11 months, 2 weeks ago

Art of a Good Unicorn | Startup founders, unlock golden opportunities through PE-VC investments

Hindustan Times  

In recent times, it feels like we're standing on a ledge combining innovation and risk. In H1 2023, India’s PE-VC investments were said to hit about $21 billion, compared to $40 billion during the corresponding period last year, according to a report by Bain and Company. Despite global slowdown, PE-VC investments continued to trend in India in 2023 But in …

National Startup Day: Visionaries speak on new ventures’ role in driving growth
11 months, 3 weeks ago

National Startup Day: Visionaries speak on new ventures’ role in driving growth

Live Mint  

National Startup Day: In recent years, Indian startups have experienced extraordinary growth, propelling the country to the position of the third-largest startup ecosystem globally. Celebrating National Startup Day on January 16, key figures in the startup ecosystem shared insights on the crucial role the new ventures played in shaping India's future. India recorded over 112,718 DPIIT-recognised startups spanning 763 districts …

For start-ups, ethics and values will define legacy
1 year, 1 month ago

For start-ups, ethics and values will define legacy

Hindustan Times  

Over the past decade, the Indian start-up ecosystem has witnessed a remarkable transformation. Indian start-ups have achieved impressive milestones with over 100 unicorns including companies such as Flipkart, Ola, Paytm, and Zomato and garnering substantial attention. It’s also interesting to note that Indian entrepreneurs have not only excelled domestically but have expanded their operations internationally, making India a global player …

What is Angel Tax and why is it a concern for the Indian startup community?
1 year, 5 months ago

What is Angel Tax and why is it a concern for the Indian startup community?

Live Mint  

In recent years, India has witnessed a thriving startup ecosystem, with numerous young entrepreneurs and innovative ideas surfacing across the country. However, amidst this growth, an issue called "Angel Tax" has emerged as a significant concern for the Indian startup community. Thirdly, angel tax generates uncertainty and apprehension among angel investors and HNIs, discouraging them from investing in startups, thus …

The Art Of A Good Unicorn| Unwrapping the prolonged funding winter
1 year, 5 months ago

The Art Of A Good Unicorn| Unwrapping the prolonged funding winter

Hindustan Times  

Once dominated by unicorns, the Indian startup scene is now grappling with a prolonged funding winter, stricter diligence on fresh investments and down rounds if the latest deal data is anything to go by. Despite the significant dry powder earmarked for Indian start-ups, the ecosystem reported the lowest six-month funding trends in the last four years during H1 CY23 at …

Startups in India will increase by 10 times in next 4-5 years: Rajeev Chandrasekhar
1 year, 5 months ago

Startups in India will increase by 10 times in next 4-5 years: Rajeev Chandrasekhar

India TV News  

Startups in India: Startups and unicorns in India will witness substantial growth in the coming 4-5 years, and startups will increase by 10 times, Union Minister of State for Electronics and IT Rajeev Chandrasekhar said. In his address at the JIIF 6th Foundation Day and Investors/Startup Conclave in Hyderabad, he highlighted India's remarkable progress in building unicorns and startups, and …

Very bullish on India's startup ecosystem: Infosys co-founder Kris Gopalakrishnan
1 year, 7 months ago

Very bullish on India's startup ecosystem: Infosys co-founder Kris Gopalakrishnan

India Today  

Infosys co-founder Kris Gopalakrishnan said he remains bullish on India's startup ecosystem over the medium-to-long term, adding that the recent slump is temporary. He was speaking at the India Today Conclave South 2023 during a session titled ‘India’s start-up ecosystem: The success and the challenges’. I am very very bullish on India's startup ecosystem over the medium to long term. …

Starting your own business? These govt schemes can support your startup in India
1 year, 7 months ago

Starting your own business? These govt schemes can support your startup in India

Live Mint  

In this era of startups, India is leading the world as the country has created a robust ecosystem for businesses and entrepreneurs. List of schemes launched to help Indian startups 1) Multiplier Grant Scheme: The Department of Electronics and Information Technology initiated the Multiplier Grant Scheme to empower collaborative research and development among industries which helps to boost the growth …

Indian startups set for more pain as funding crunch worsens
1 year, 8 months ago

Indian startups set for more pain as funding crunch worsens

Live Mint  

A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation. The prospect of fast rising consumption both offline and in India's digital space helped many startups clock multi-billion-dollar valuations in recent years, with …

'Angel Tax' Provisions In Finance Bill Will Not Impact Startups: DPIIT Secy
1 year, 10 months ago

'Angel Tax' Provisions In Finance Bill Will Not Impact Startups: DPIIT Secy

ABP News  

The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. It doesn't affect startups in the least,” he said, addressing the audience at the event organized by the venture capital industry lobby grouping. Startups were rattled because of the proposed changes in regulations in the Finance Bill through the …

India adds 1,300 new startups, 23 unicorns
1 year, 10 months ago

India adds 1,300 new startups, 23 unicorns

Deccan Chronicle  

Chennai: Over 1,300 technology-focused start-ups were added in 2022, taking the total number of active tech start-ups to 25,000 – 27,000. India also added the second highest number of unicorns in the world — over 23 in 2022. The country also added the second highest number of unicorns in the world, with over 23 added in the calendar year 2022. …

Boost for female entrepreneurs; report says 18% Indian startups are women-led
1 year, 10 months ago

Boost for female entrepreneurs; report says 18% Indian startups are women-led

Hindustan Times  

According to a report published Wednesday by the National Association of Software and Services Companies in collaboration with Zinnov, 18 per cent of startups in India are led by at least one woman founder or co-founder. At least 36 unicorns and potential unicorns in India has at least one woman founder or a co-founder, as per the report. Indicating the …

Angel tax may trim foreign funding in Indian startups
1 year, 11 months ago

Angel tax may trim foreign funding in Indian startups

Live Mint  

Indian startups raising capital from foreign investors such as SoftBank, Sequoia Capital, Prosus, Tiger Global, KKR and Blackstone will now have to pay angel tax in a move that could squeeze funding into the sector facing a liquidity crunch and prompt more startups to shift overseas. “This could compel more startups to flip overseas, as foreign investors may not want …

Budget 2023 Expectations: Foster tie-ups between government and stakeholders to support startups
1 year, 11 months ago

Budget 2023 Expectations: Foster tie-ups between government and stakeholders to support startups

Firstpost  

The Indian startup ecosystem has been witnessing an unprecedented boom in the last few years with new businesses emerging in a multitude of sectors. As a result, this year’s Union Budget 2023 is being closely watched by many startups, as they seek measures to support them in overcoming these difficult times. To ensure effective regulation of the rapidly developing startup …

Data | Indian startups founded in 2021 took only 28 months to go from seed stage to Series A funding: RBI paper
1 year, 11 months ago

Data | Indian startups founded in 2021 took only 28 months to go from seed stage to Series A funding: RBI paper

The Hindu  

A recent article titled ‘What drives startup fundraising in India?’ was published as a part of the January 2023 issue of the Reserve Bank of India’s monthly bulletin. The article also points out that the number of months taken by startups in India to climb up the funding ladder has drastically declined in recent years. Only those entities which work …

Success rate of startups in India higher than in other countries: Piyush Goyal
2 years ago

Success rate of startups in India higher than in other countries: Piyush Goyal

The Hindu  

The government on Wednesday said that the success rate of startups in India was much higher than in other countries of the world, and the number of startups in the country had increased from 452 in 2016 to 84,012 till November 2022. Though I must say, the success rate of startups in India is relatively higher than the rest of …

Indian startups see decline in funding activity, at two-year low levels: Report
2 years, 2 months ago

Indian startups see decline in funding activity, at two-year low levels: Report

Live Mint  

The global slowdown in funding continues with start-up funding in India in Q3 CY22 hitting a two-year low at $2.7 billion across 205 deals, as per the PwC India report titled - Startup Deals Tracker for the third quarter of the current year. Early stage deals contributed around 21% of the total funding by value in Q3 CY22 compared to …

India’s startup valuation race mustn’t be reckless
2 years, 3 months ago

India’s startup valuation race mustn’t be reckless

Live Mint  

There is a popular saying that a crisis is all you need to separate the strong from the weak. The economic crisis in the form of rising interest rates and shrinking systemic liquidity is taking its toll on tech startups which have been nourished on years of easy money and tidal waves of overseas investments in the form of private …

Start-up ecosystem: A goldmine of investment opportunities
2 years, 3 months ago

Start-up ecosystem: A goldmine of investment opportunities

Hindustan Times  

The word start-up was added to the layman's dictionary in January 2016 when the Government of India launched the Start-up India initiative. Economic survey 2022 highlighted that at least 14,000 start-ups were recognised by the department for promotion of industry and internal trade in India having at least one new start-up. The convergence of several factors is driving this investment …

75,000 Startups Recognised In India So Far, This is Only Beginning: Goyal
2 years, 5 months ago

75,000 Startups Recognised In India So Far, This is Only Beginning: Goyal

News 18  

Commerce & Industry Minister Piyush Goyal on Wednesday said 75,000 startups have been recognised in India and the startup ecosystem here continues to be fuelled by innovation, enthusiasm and entrepreneurial spirit. India is now home to 75,000 startups in the 75th year of Independence and this is only the beginning,” Goyal said in a tweet on Wednesday. pic.twitter.com/Dh6sVxUnLU — Piyush …

India witnesses a massive 15,400% rise in startups in last 6 years
2 years, 5 months ago

India witnesses a massive 15,400% rise in startups in last 6 years

Live Mint  

India registered a whopping rise of 15,400% in the number of startups that rose from from 471 in 2016 to 72,993 as on 30th June 2022. In a written reply to a question in the Rajya Sabha, Union Minster of State for Commerce and Industry Som Prakash stated that the Startup India initiative was launched in 2016 with the objective …

Despite 'Funding Winter', Hurun Says 122 More Startups Can Become Unicorns in 4 Yrs
2 years, 6 months ago

Despite 'Funding Winter', Hurun Says 122 More Startups Can Become Unicorns in 4 Yrs

News 18  

Despite the ongoing ‘funding winter’ which can impact start-up valuations, the number of unicorns or startups valued at over USD 1 billion will grow by 122 to cross the 200 companies mark in the next four years, a report said on Wednesday. The number of unicorns stand at 84 right now as against 51 in the year-ago period, and there …

Indian cities rise in global start-up ranks, China’s ecosystems slip
2 years, 6 months ago

Indian cities rise in global start-up ranks, China’s ecosystems slip

Live Mint  

Several Indian ecosystems have risen in the global start-up ecosystem rankings, most notably Delhi, according to a report. Delhi is 11 places higher than in 2021, entering the top 30 for the first time at 26, says a report by Startup Genome, a policy advisory and research organization for public and private organizations. The performance of Chinese startup hubs is …

Startup Layoffs: Overall Funding Is No Less This Year, But Why Firms are Firing Employees
2 years, 7 months ago

Startup Layoffs: Overall Funding Is No Less This Year, But Why Firms are Firing Employees

News 18  

Although start-ups are resorting to lay-off of employees as they cite cost-cutting as the primary reason, data show that the overall funding for these new-generation enterprises during January-April this year is almost the same as last year and even the number of companies raising over USD 100 million is also higher than last year. Interestingly, the data showed that the …

Indian startups continued to create wealth even during COVID: PM Modi
2 years, 7 months ago

Indian startups continued to create wealth even during COVID: PM Modi

The Hindu  

Noting that the number of unicorns in India has reached the 100-mark, Prime Minister Narendra Modi on May 29 said that even during the COVID pandemic, India's startups continued to create wealth and value. This means that even during the global pandemic our startups continued to create wealth and value," he said. Mr. Modi said the average annual growth rate …

Total 100 Unicorn Start-Ups In India Now But Only 23 In Profit: Report; Know In Details
2 years, 7 months ago

Total 100 Unicorn Start-Ups In India Now But Only 23 In Profit: Report; Know In Details

News 18  

With the country getting its 100th unicorn last week, Open, after it raised USD 50 million at a valuation of USD 1 billion, start-ups have so far raised over USD 80 billion from investors to date, creating a total market value of more than USD 300 billion. The year 2021 experienced a huge surge in the number of unicorns, registering …

SoftBank-Backed Fintech Start-Up Open Becomes India's 100th Unicorn With Fresh Funding
2 years, 8 months ago

SoftBank-Backed Fintech Start-Up Open Becomes India's 100th Unicorn With Fresh Funding

ABP News  

New Delhi: Open, a neobanking fintech portal, became unicorn on Monday after it raised fresh capital which pushed up its value over a billion dollars. 🥳 But before that here's the #Unicorn🧵summarizing our journey so far👇 pic.twitter.com/FsfSOpK5Bp — Open Money May 2, 2022 According to news reports, in a Series D funding round, the five-year-old neobank raised $50 million from …

Indian startups should build products for the world to sustain wave
2 years, 9 months ago

Indian startups should build products for the world to sustain wave

Live Mint  

Entrepreneurs driving India’s great tech wave should build products for the globe, as they might find it difficult to sustain the wave with only India as their market, feel tech investors and startup founders. “We may have to look at Indian companies actually building global platforms and global businesses as against just only focusing on India for a short- to …

BharatPe: The coming of age story for Indian startups | OPINION
2 years, 10 months ago

BharatPe: The coming of age story for Indian startups | OPINION

India Today  

The past few years have put the spotlight on the phenomenal wealth creation by a tribe of businesses called “startups”. The issue has come to prominence due to the governance related matters of BharatPe, a phenomenal financial technology or fintech startup, that pushed the creation of unified QR codes for UPI based payment acceptance, and forced the QR code-based payment …

India has Created a Unicorn Every Five Days in 2022 So Far, Says Piyush Goyal
2 years, 10 months ago

India has Created a Unicorn Every Five Days in 2022 So Far, Says Piyush Goyal

News 18  

Starting 2022 on a high, 8 new Indian startups have made it to the list of Unicorns in the first 40 days of the year. Making the announcement on Twitter, Minister of Commerce, and Industry, Piyush Goyal revealed that India has created a unicorn every five days in 2022 so far. https://twitter.com/PiyushGoyal/status/1492377133209223169?s=20&t=_R1JER_Se3-eGa847O9vvw Earlier last month, Goyal, while speaking at the …

Central Govt Announces First-Ever Startup India 'Innovation Week'
2 years, 11 months ago

Central Govt Announces First-Ever Startup India 'Innovation Week'

News 18  

The Centre will organise the first-ever Startup India “Innovation Week” from Monday to bring together the country’s key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, etc under one platform to celebrate entrepreneurship and promote innovation, and to showcase the spread and depth of entrepreneurship across India, an official statement said. According to the Commerce and Industry Ministry statement, the …

What explains India's unicorn boom in 2021?
3 years ago

What explains India's unicorn boom in 2021?

Business Standard  

About a week ago, an Indian startup founder quipped on Twitter that the definition of a ‘Unicorn’ as used in the venture capital industry should now change to $1 billion of funding raised. In a blockbuster year for startup funding, India saw creation of 42 unicorns, a three times jump from 11 new unicorns in 2020 and nine in the …

It's Raining Unicorns in India: 30 Startups that Entered $1-Billion Club in 2021
3 years, 3 months ago

It's Raining Unicorns in India: 30 Startups that Entered $1-Billion Club in 2021

News 18  

It’s raining unicorns in India this year. India has added three ‘unicorns’ per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, as per a report by the Hurun India. Here is the list of other Indian startups that marked their spots in the unicorn club this year …

No more a myth: 30 startups join the unicorn club in 2021
3 years, 3 months ago

No more a myth: 30 startups join the unicorn club in 2021

Hindustan Times  

A decade since the birth of its first unicorn—InMobi, a provider of advertising services for mobile phones—India has proved that these capital-fuelled creatures aren’t so rare, minting 30 of them in 2021 so far. By 2025, the country is expected to host as many as 62,000 startups, including 100 unicorns, according to an October 2020 report prepared by TiE- Delhi, …

India becomes third largest Unicorn ecosystem in the world: Report
3 years, 4 months ago

India becomes third largest Unicorn ecosystem in the world: Report

Op India  

Hurun India released the Hurun India Future Unicorn List 2021 on September 2, 2021 which ranks start-ups founded in 2000s, with a worth of at least US$200mn, or INR 1,500 crores. This is a lost opportunity for India and it is important that these start-ups are incentivized to stay back in the country.” Source: Hurun Research Institute Anas Rahman Junaid, …

Indian unicorns double in 2021; regulatory scene forcing some startups to leave: Report
3 years, 4 months ago

Indian unicorns double in 2021; regulatory scene forcing some startups to leave: Report

The Hindu  

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of August-end, a report said on Thursday. Even as cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list. …

India got a solid startup ecosystem due to futuristic vision and decisiveness: Goyal
4 years, 2 months ago

India got a solid startup ecosystem due to futuristic vision and decisiveness: Goyal

Live Mint  

Union Commerce and Industry Minister Piyush Goyal on Tuesday said at an event that futuristic vision combined with decisiveness has provided India with a solid startup ecosystem. Lauding Indian startups for demonstrating high energy and enthusiasm to give many timely and cost-effective solutions, he said “Our hunger for growth is demonstrated by the number of EdTech apps for upscaling & …

21 Indian Startups are 'Unicorns' Valued over $1 Billion, Just a Tenth of China's: Study
4 years, 5 months ago

21 Indian Startups are 'Unicorns' Valued over $1 Billion, Just a Tenth of China's: Study

News 18  

India is home to 21 unicorns, or startups with over USD 1 billion in valuation each, and 40 more of such companies have been founded overseas by people of Indian origin, a report said on Tuesday. With the 21 unicorns collectively valued at USD 73.2 billion, India is the fourth biggest in terms of unicorns, behind the US, China and …

Will Not Hesitate to Take More Action to Fuel Growth: RBI Guv Assures India Inc
4 years, 5 months ago

Will Not Hesitate to Take More Action to Fuel Growth: RBI Guv Assures India Inc

News 18  

RBI Governor Shaktikanta Das on Monday assured the industry that the central bank was closely monitoring the economic situation and will not hesitate to take appropriate action, as he underlined the need for stepping up investment in the infrastructure sector to reignite growth hit by the COVID-19 crisis. Reflecting on some other dynamic shifts underway in the Indian economy, Das …

Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder
4 years, 11 months ago

Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder

Firstpost  

At a time when startups are imploding globally and facing questions about inflated valuations, lack of governance and robust business models, Sanjeev Bikhchandani, co-founder of InfoEdge that owns Naukri.com, warns entrepreneurs against making the unicorn status the measure of their success. “Company founders should not benchmark to unicorn valuation,” said Bikhchandani, who has invested in startups like Zomato and Policy …

Opinion | The decline of tax demons and the ascent of angels
5 years, 4 months ago

Opinion | The decline of tax demons and the ascent of angels

Live Mint  

On 23 August 2019, finance minister Nirmala Sitharaman, while announcing the non-applicability of Section 56 of the Income Tax Act, 1961, popularly referred to as “angel tax” on startups registered with department for promotion of industry and internal trade, reassured entrepreneurs that the government was already sensitized to the importance of the startup ecosystem and was taking all possible steps …

Startup India vs angel tax: Union Budget 2019-20 has offered some sops to startups, but will bureaucracy play spoilsport?
5 years, 4 months ago

Startup India vs angel tax: Union Budget 2019-20 has offered some sops to startups, but will bureaucracy play spoilsport?

Firstpost  

It’s a Battle Royale out there. However, pitted against Startup India is a formidable opponent, popularly known as Angel Tax. And till this is done, do the startups happily keep paying angel tax? The government had also said that angels who invest through certain funds, would not be subject to angel tax, since the AIF was a government-approved fund anyway. …

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