“STARTUPRENEUR”

Message from the President’s Desk

The Startup revolution in India began on a high note drawing in funding worth around USD 6 billion in 2015. Job creation & Innovation have been the ingenuity of the rising startup footprints in India. In terms of the number of technology driven startups, India ranks third in the world, just after the US and the UK. The role of the Government of India and the state governments has been particularly encouraging for the Startup ecosystem in the country. A Fund of Funds of Start-ups (FFS) has been established by the Union government in June last year. A Credit Guarantee Scheme for Startups (CGSS) is also on the pipeline to promote young entrepreneurs. The Ministry of DoNER has rolled out “Venture Fund” for Startups in the Northeastern region of the country. The Eastern Indian states of West Bengal, Bihar & Jharkhand have initiated dedicated Start Up Policies for the budding entrepreneurs. The Government of India has also launched the Startup India Virtual Hub, an online platform for stakeholders to “discover, connect and engage with each other”. India is now taking the Startup growth story beyond its domestic frontiers, teaming up with countries like Sweden and Portugal to synergize a global startup ecosystem. At the industry level, the Start-up ecosystem in India has evolved rapidly over the past couple of years. Investors are now looking for mature entrepreneurs, deeper credentials and viable and unique business models and not just great ideas. As part of our endeavor to take forward the agenda of sensitizing the start-up ecosystem of the country, the Indian Chamber of Commerce is happy to introduce the ‘STARTUPRENEUR’, our newsletter on startups and entrepreneurship. As an industry dashboard, it will feature success stories from budding CEOs, latest policy diktats, Government and Regulator views and industry updates. The aim is to build up a strong networking platform for the startups. ICC will actively facilitate queries, meetings, B2B and G2B interactions for the startup entrepreneurs in the country. I sincerely hope that the stakeholders involved in this sector will benefit from this initiative. Mr. Shashwat Goenka President Indian Chamber of Commerce

Startup India Online Hub launched by the Department of Industrial Policy and Promotion (DIPP) to ensure Single Point of Contact for Information Exchange

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The portal will host startups, investors, funds, mentors, academia, incubators, accelerators, corporate and government bodies; Startups will gain access to funding and mentoring opportunities through the forum

The Online Hub will have key features like Location based discovery, Artificial Intelligence, Open Application Programming Interface, Analytics, Gamification, Networking platform and Integrated learning development modules

__________________________________________________________________________ DIPP’s updated FDI policy allows 100% Foreign Venture Capital Investment in Indian Startups __________________________________________________________________________

Startups in India will now be allowed to raise 100% funding from Foreign Venture Capital Investors (FVCIs) through convertible notes

Foreign investors, barring those from Pakistan and Bangladesh can now purchase convertible notes worth USD 39K (INR 25 Lakh) or more in a single tranche from startups based in India

NRIs can buy convertible notes from Indian startups on non-repatriation basis

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DIPP to rank states on the basis of success of their Startup Policies __________________________________________________________________________

A feedback window has been opened at the official website of Startup India for stakeholders; the final ranking of the states with respect to success of their startup policies is expected to be awarded by June 2018

Ranking parameters include Hand holding and easing compliance with regulations; Infrastructure support; Research and development and human capital development support; Fundraising support and fiscal incentives; Marketing support and promoting international exposure to state startups

15 states in India have already announced their startup policies. These include Andhra Pradesh, Goa, Kerala, Rajasthan, Telangana, Karnataka, Odisha, Chhattisgarh, Gujarat, Bihar, Uttar Pradesh, Madhya Pradesh, West Bengal, Assam, and Uttarakhand; Haryana has also released its draft Startup policy

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Petroleum Ministry launches INR 320 crore fund to support startups in the Energy sector __________________________________________________________________________

The Ministry of Petroleum and Natural Gas, Govt. of India and leading public sector oil companies in the country including India Oil Corporation, ONGC, Engineers India, Oil India, Numaligarh Refinery, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Gail (India), Balmer Lawrie and Mangalore Refinery and Petrochemicals have launched a fund, ‘Start-up Sangam’, for the Energy sector startups.

The major thrust will be on energy and related sectors, converting waste plastics to petroleum fuels, solar stove, multipurpose fuel from agricultural waste biomass and leak detectors for LNG cylinders to name a few.

Entrepreneurs aspiring to be a part of this initiative will get 30 months to demonstrate their “proof of concept”, if they are entering the technology field and 18 months only if it is a “business idea”.

News on Startups, Q2 2017

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Odisha State Government launches Web Portal for Startups

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The Odisha State Web Portal for Startups will connect state startups with Angel investors and Incubators

An online learning program for entrepreneurs will be initiated through the web portal

The Startup Odisha Toll-Free Helpline is 1800-345-7100

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Nitish Kumar releases Bihar’s startup policy, announces INR 500 crore fund _____________________________________________________________________

Bihar has set up a trust with a corpus of USD 76 Million (INR 500 Cr) for the enforcement, management, and monitoring of the Startup Policy in the state

A Seed Grant of upto INR 10 Lakhs per start-up will be provided as an interest-free loan for 10 years

There will be Zero Cost For Filing of Patents, both domestic & foreign

Single Window Clearance Committee will be available for all statutory clearances for startups

Financial assistance will be available for setting up of incubators; free of cost Valuation will also be available for the startups

A Startup Bihar portal will also be launched

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Jharkhand set to become a Startup hub

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The Union government has sanctioned INR 50 crore for Jharkhand's internal venture capital fund

to support startups in the state

A one lakh square feet Jharkhand Innovation Lab is coming up in the state with incubator centres

in cities like Jamshedpur, Dhanbad and Bokaro

The Centre for Innovation, Incubation and Entrepreneurship (CIIE) of the Indian Institute of

Management (IIM), Ahmedabad will be partnering the Government of Jharkhand for the

incubation processes for startups in the state

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West Bengal Startup Policy- Incentives

Pre Idea Stage State will fund capital expenditure upto INR 10 lakh to create a central Entrepreneurship Development Centre (EDC)

State will fund upto INR 10 lakhs per annum for Entrepreneurship Development Centre Network (EDCN) activities related to startups

State funding assistance is available for EDCN capacity development programmes

Idea/Proof of Concept Stage

State will facilitate creation of a network of kick starter funds for early stage funding requirements of startups

Patent application charges will be reimbursed to the incubated startups, as per the provisions of the MSME Policy, GoWB

Pilot Stage Priority Equity Funding from WB MSME Venture Capital Fund is available, where atleast 20% of the fund is earmarked for startups

State Focus: West Bengal

Special fiscal incentives are awarded to investment bankers, Incubators, Technology Business Incubator (TBI)s in the state in addition to the incentives available under the existent schemes of Govt. of West Bengal

IT sector Separate incentives will be notified in sync with sectoral needs

Eligibility Entities must register themselves with the state government

Name of company: Emedhouse Established in 2017 Registered Company Name: HnG Innovation Private Limited

Subhadip Halder (Co-founder & CEO) Pankaj Goyal (Co-founder & COO) Vertical: Healthcare/ Hyperlocal E-commerce Market Services Portfolio

Medicine

Healthcare Product

Pathology Test

Pharmacy

Clinic

Diagnostic Centre & Pathology Lab

Doctor

Physiotherapist

E-commerce

Appointment booking

Home-delivery

Business

Operator and Aggregator model. In comparison to Inventory model, price competitiveness is low, but USP is better availability of stock and shorter time of delivery.

E-connect services for blood banks, hospitals, medical reviews, clinical decision support system using machine learning etc

The organization has 10 employees.

Operations are mostly based from home office in Kolkata.

The company has a capital base of INR 10 lakhs

Challenges

No favorable ecosystem to spur growth

No government support received in funding. Bank financing is difficult to obtain. Awareness about available government financial incentive schemes low, particularly from the state government

Lack of sufficient e-pharmacy platforms

Preconceived notion of misguidance in healthcare sector in Kolkata

Rents are high for office spaces; more Information Technology (IT) parks should come up in Kolkata and its vicinity to facilitate business development for startups

Success Stories - Startupreneurs Speak

GST regime has made tax compliance cumbersome, mostly due to awareness issues

Need for longer lease period for office space accommodation

No known means of cross checking or validating licenses submitted by chemists etc to the portal

Organization needs capital infusion to scale up

Employability skills of software developers low; not in sync with the requirements of the organization. Labour cost is high

Low visibility and limited reach; general population is not yet very comfortable to digital medium for their regular medical needs

Needs to build up logistics team with special focus on hyperlocal logistics set up/ distribution network

Name of company: Market Quotient Established in 2012, Knowledge based industry Registered Company Name: Mq Business Solutions Private Limited

Sharique Nisar, Founder & Director

Vertical: Research & Analytics

Investment Research

Market Research

Business Research

Data Analytics and Modeling

Data Automation

Industries Catered

Automobile

BFSI

Building and Construction

Education

Engineering

Food & Beverages

Healthcare and Pharmaceuticals

Internet

IT

Media and Publishing

Packaging

Retail

Telecom

Business

90% of the business is generated from the US market

The organization has 34 employees

Operations are mostly based from the rented office space in Sector V, Kolkata. Has representative sales office in USA

The company started with a capital of INR 80 lakhs which has currently reached INR 4 crore

Prominent Clients-Bank of New Zealand, Playworld Systems Challenges

No government support in funding. Bank financing is difficult to obtain

Rents are high for office spaces; more IT parks should come up in Kolkata and its vicinity to facilitate business development

GST regime has made tax compliance cumbersome, mostly due to awareness issues; though no direct impact on profitability and business has been perceived

Corporate tax rates are high which is having a direct bearing on profitability of the enterprise

Employees lack soft skills, though core knowledge base is sufficient

Lack of investor confidence in the state

Name of Organization: IIM Calcutta Innovation Park Year of establishment: 2014 CEO: Subhrangshu Sanyal, Ph.D, CEO, IIM Calcutta Innovation Park Organization brief: The IIM Calcutta Innovation Park (IIMCIP) is a not for profit company established by IIM Calcutta. IIMCIP aims to create a nurturing ecosystem where new enterprises with innovative ideas and solutions can flourish. IIMCIP promotes innovation in research and

business through industry-academia partnership. IIMCIP partners include Department of Science and Technology, Government of India; National Science & Technology Entrepreneurship Development Board; Indian Institute of Management Calcutta, Intellecap Inpact Investing Networks (I3N); Startup Wave; Ankur Capital; Innokul; Calcutta Angels; 10,000 Startups; Ennovent; Villgro and Yunus Social Business. Vertical: Business Incubation Unit (BIU) and Innovation Lab. The BIU focuses on Ideation, Innovation, Improvement, Induction, Inculcation, Incubation and Investment. The Innovation Lab facilitates corporates in setting up their knowledge center and in execution of their innovation programs.

Initiatives

Capacity Building – Indian Institute of Management Calcutta (IIM C) has partnered the Department of Micro & Small Scale Enterprises and Textiles (MSSE&T), Government of West Bengal in the ‘Shilpa Abhijan’ initiative, which aims to foster district level entrepreneurship in the state. Other value added activities include market scoping reports and case studies.

Social Entrepreneurship - The IIMCIP through its partnership with the TATA group aims to promote awareness about social entrepreneurship in India. IIMCIP is a leading national body promoting disruptive business innovation in the country. The objective is to create a sustained culture of entrepreneurship and innovation in the country which would address the emerging socio economic challenges in India and will make growth inclusive and sustainable. IIMCIP actively leverages industry-academia partnership to expand opportunities for research and innovation in business for budding entrepreneurs. Social entrepreneurship encompass a wide range of organizations and IIMCIP incubates operate across diverse sectors like Healthcare, Logistics, Agriculture, Education, Food, Marketplace, Manufacturing, Fashion, Technology, Travel & Tourism and Software.

Business Incubation & Innovation Support

INVENT- The INVENT program has been launched by IIMCIP in association with DFID UK and Technology Development Board (TDB), Govt. of India. The program is designed to support ‘for-profit businesses’, which address one or more needs of people, are based on technology or business model innovation, are scalable, and are capable of raising further funding from other investors. The objective is to identify and incubate for-profit social enterprise startups, working with innovative business ideas in a three years time frame.

Services offered by IIMCIP:

Seed Funding Mentorship Plug and Play workspace Support Services Capacity Building programmes

Milestones

IIMCIP has funded around 15 startups with an average funding of approximately INR 25 lakhs per venture, since its inception in 2014; Aims to provide funding support to almost 40 startups by 2019

‘Egiye –Bangla’, an unique Contest-cum-TV Reality Show, launched by the MSME&T Department, Government of West Bengal, in partnership with IIMCIP has provided mentorship and guidance to 40 participating startup ventures and funding support and incubation to 18 startups

SMART 50 is an innovation hunt project launched by the Indian Institute of Management - Calcutta (IIM-C). The project has been conceptualized in association with the Department of Science and Technology (DST), Government of India. The objective is to identify and fund 50 cutting-edge start-up projects that will support socio-economic transformation of the country. IIMCIP will provide mentorship, visibility and access to funds to the participants that will help them to scale up. Taking the lead in global mentorship, IIMCIP will select 10 of the top 50 business ideas from Singapore and North America.

Table 1: List of incubators in Eastern India

Name State City Thrust Area Address Website Application Process Contact Person Email id/ Phone number

Bihar Entrepreneurs Association

Bihar Patna Agnostic Enterprising Zone-EZ, aa 128/E, Opposite Children's Park, SK Puri, Boring Road, Patna- 8000001

www.enterprisingzone.com http://beabihar.com/Submityour-idea#BEA

Mr. Abhishek Kumar, BEA

abhishek2709@gmail.com M: 09708899777 T: 0612-3222433

Bihar Industries Association

Bihar Patna Agnostic Bihar Industries Association, Industry House, Sinha Library Road, Patna-800001

http://www.biabihar.com/ http://biaincubator.com/biain cubator/index.php/apply

Mr. Ram Lal Khaitan, BIA,

hi.techpatna@gmail.com M: 09334145197 T: 0612- 2226642/2222100/3260717

Business Incubation Centre (IC)

Bihar Patna Electronics System Design and manufacturing (ESDM) with a special focus on Medical Electronics

Ground Floor, Administrative Block, IIT Patna campus, Bihta, Patna – 801 103. Bihar

http://www.iciitp.com/ Aditya Nataraja, Manager

sriru@iitp.ac.in T: +91-612-3028545/6/7

Indo Danish Tool Room

Jharkhand Jamshedpur

Mechanical M-4,(Part),Phase-VI, Tata Kansdra Road,P.O. Gamharia, Jamshedpur- 832108

http://www.idtr.gov.in/ Mr.Ashutosh Kumar, Dy. General Manager

reach@idtrjamshedpur.com T: 0657-2201261/62 Fax: 0657-2202723

Incubators in Eastern India

IIM Calcutta Innovation Park

West Bengal

Kolkata 1) Social Enterprises 2) MSME

IIM CALCUTTA INNOVATION PARK IIM Calcutta, Diamond Harbour Road, P.O. Joka, Kolkata – 70104

http://www.iimcip.org/ http://www.iimcip.org/incuba tion/apply/

Mr. Subhrangshu Sanyal , CEO

subhrangshu.sanyal @iimcip.org T: +91 33 2467 8313 (Extn 576/577/541)

Technology Incubation and Entrepreneurship Society (TIETS)

West Bengal

Kharagpur

Agnostic Science & Technology Entrepreneurs' Park (STEP) Indian Institute of Technology Kharagpur, India-721302.

http://www.stepiit.org/about_tiets.html

1) Dr. Satyahari Dey, Professor, Managing Director 2) Prof. Siddhartha Das, Executive Adviser 3) Mr. Subhash Chandra Santra , General Manager

mdstep@hijli.iitkgp.ernet.in 1) T: 91- 3222-283760 or- 282247 (Office), - 277097 (Res.), -281366 (laboratory) Fax: 91-3222-255303 or-278707 2) T: +91-3222-283256 ,+91-3222- 281091 3) T: 03222-281091

Nasscom 10000 Startups Warehouse Kolkata

West Bengal

Kolkata Technology Nasscom Startup Warehouse, Monibhandar Building (7th. Floor), Webel Bhavan Premises,Block EPGP, Sector-V, Salt Lake, Kolkata-700091,

http://10000startups.com/ http://10000startups.com/sta rtup-warehouse-form/

Ravi Ranjan, Manager

ravi@nasscom.in M: 9874443395

+91 120 4990111

Tagore Centre for Green Technology Business Incubation

West Bengal

Howrah Agnostic TAGORE CENTRE FOR GREEN TECHNOLOGY BUSINESS INCUBATION (TCGTBI) P.O. - Botanic Garden Howrah - 711103 West Bengal, India

http://tcgtbi.iiests.ac.in/index. html http://tcgtbi.iiests.ac.in/linked pages/Application_Startup_Re commendation.html

Pratho Chakraborty, General Manager

1) mksanyal@tcgtbi.org 2) hodhrm@becs.ac.in T: 033-26681073 Fax: 033-26689925 M: 09831352950

Ekta Incubation Centre

West Bengal

Kolkata 1) Biotechnology 2) IT

AQ 13/1, Sector V, Salt Lake City Kolkata - 700091

http://www.technologyembry o.com/

Mr. Alok Ray, Director, EKTA- TBI

info@technologyembryo.com ektaincubationcentre@gmail.com T: (033) 2367 3978

Join us at

2nd ICC Startup Pad 2017

ICC is proud to present its 2nd Start Up Pad 2017 – Grand Finale, a forum for start-ups to dream, innovate and escalate. If you are an academician, a research scholar, student, corporate, SME, Practicing Manager, start up venture, potential entrepreneur, innovator & industrialist, NGO, or skill development agency, this is the perfect chance for you to turn your business idea into reality. If you have an idea that you think qualifies as a Start Up, take part in the seminars to be held in Kolkata, Bhubaneswar, Patna, Guhawati, Ranchi, Shillong & Siliguri. The 15 best ideas will be showcased before an eminent panel of investors. Mentoring partner and Ecosystem Partner for 2nd ICC Startup Pad 2017 are Ekcle Advisory Services and Virtualinfocom respectively.

Disclaimer: While we have made every attempt to ensure that the information and data contained in this publication is accurate, the Indian Chamber of Commerce is not responsible for any errors or omissions, or for the results obtained from the use of this information.

Contact

Mr. Rajarshi Ghosh

Head - Department of Economic Affairs and Policy

Indian Chamber of Commerce

Landline: 033-2253 4333 (D), E mail: rajarshi.ghosh@indianchamber.net

Ms. Atasi Das *

Executive Officer - Department of Economic Affairs & Policy

Indian Chamber of Commerce

Landline: 033-2253 4258 (D), E mail: atasi.das@indianchamber.net

(*for Advertising inquiries & Submission of Success Stories)

ICC Towers, 4 India Exchange Place,

About ICC

Founded in 1925, Indian Chamber of Commerce (ICC) is the leading and only National Chamber of Commerce operating from Kolkata, and one of the most pro-active and forward-looking Chambers in the country today. Its membership spans some of the most prominent and major industrial groups in India. ICC is the founder member of FICCI, the apex body of business and industry in India. ICC’s forte is its ability to anticipate the needs of the future, respond to challenges, and prepare the stakeholders in the economy to benefit from these changes and opportunities. Set up by a group of pioneering industrialists led by Mr G D Birla, the Indian Chamber of Commerce was closely associated with the Indian Freedom Movement, as the first organised voice of indigenous Indian Industry. Several of the distinguished industry leaders in India, such as Mr B M Birla, Sir Ardeshir Dalal, Sir Badridas Goenka, Mr S P Jain, Lala Karam Chand Thapar, Mr Russi Mody, Mr Ashok Jain, Mr.Sanjiv Goenka, among many others, have led the ICC as its President. Currently, Mr. Shashwat Goenka is leading the Chamber as its President.

The Chamber has proven capabilities in business development across geographical boundaries and capacity building. ICC is the only Chamber from India to win the first prize in World Chambers Competition in Quebec, Canada. Also, ICC was selected as one of the top finalists at the 2013 World Chambers’ Congress in Doha, Qatar. ICC was selected for its innovative project - the ‘Better Calcutta Contest for Schools’, which is run by ICC Calcutta Foundation, a charitable trust set up with the objective of promoting the well-being of Calcutta. In 2014, ICC was the only Chamber from India to have bid for the World Chambers’ Congress to be held in 2017, and was one of the 4 Chambers to give the bid presentation in Tokyo. The ICC also has a very strong focus upon Economic Research & Policy issues - it regularly undertakes Macro-economic Surveys/Studies, prepares State Investment Climate Reports and Sector Reports, provides necessary Policy Inputs & Budget Recommendations to Governments at State & Central levels. While the ICC has grown rapidly over the last few years, and expanded its operations with the goal of serving Industry better across regions & states, and effectively addressing issues related to sub-national growth, the Chamber’s major focus will continue to be on the East & North-East of India. Being headquartered in Kolkata, the Indian Chamber has worked closely with all the State Governments in the region, and particularly, has been the Govt. of West Bengal’s partner in progress over the years. The ICC is recognized by the Ministry of DoNER, Govt. of India as the “Nodal Chamber” for the North-East, and has worked relentlessly for the progress of the North-East region which has unparalleled and majorly untapped economic opportunities. The Indian Chamber, along with the Ministry of DoNER, has been organizing the ‘North-East Business Summit’, the largest and most prestigious Summit cum Exposition on India’s North-East region over the years. These Summits have been able to address key developmental issues of the NER by bringing together all relevant stakeholders from across sectors & regions. Apart from being the Partner Chamber in all previous North-East Business Summits organized by the Ministry, the Indian Chamber has also organized mega trade & investment shows on the North-East abroad, particularly in South & South-East Asian countries, which, the ICC feels, can be natural trade partners of the North-East region because of the latter’s strategic location and proximity to these countries. Several high-profile Delegation Exchanges with South & South-East Asian countries like Bangladesh, Bhutan, Myanmar, Thailand, Vietnam & Singapore to foster trade through the NER have been organized quite frequently by the Chamber over the last few years, in sync with the Govt. of India’s erstwhile ‘Look East , and now ‘Act East’ Policy. The ICC strongly believes that if India has to ‘Act East’, the Eastern & the North-Eastern States have to play a significant role in connecting the whole of India with South & South-East Asia, and will gain tremendously through the various backward & forward linkages, in the process. The Indian Chamber of Commerce (ICC) has set its Theme for 2017-18 as - “Breaking Barriers: Imagine, Innovate, Inspire”. The ICC headquartered in Kolkata, over the last few years has truly emerged as a National Chamber of repute, with full-fledged offices in New Delhi, Mumbai, Guwahati, Patna, Bhubaneswar & Ranchi functioning efficiently, and building meaningful synergies among Industry and Government by addressing strategic issues of national significance. For a Chamber which started in Kolkata and played an inspiring role in India’s Freedom struggle by bringing indigenous businesses together, it has been a long and eventful journey. Today, as the Chamber continues to grow across states and regions, it is adhering more strongly to its primary aim of creating a conducive and sustainable environment to enable social, industrial and economic growth of the country. ICC’s flagship Annual Conferences include the North-East Business Summit, India Energy Summit, Agro Protech, ICC Insurance Summit, ICC Mutual Fund Summit, ICC Environment Partnership Summit, to name a few. These Summits take place all across India and abroad, and address key strategic issues in important sectors like Agriculture, Infrastructure & Energy, Environment, MSME, Capital Markets & Finance, etc. As a pro-active Industry Association, thus ICC is directly involved in impacting Policy Making in the country by bringing Industry & key Regulatory Bodies together, and these Conferences & Exhibitions go a long way in creating the necessary forward & backward linkages required for industrial & economic growth. The networking opportunities that the ICC Conferences provide to the participants are also significant, and these Forums create newer business opportunities in the process.

Indian Chamber of Commerce 4 India Exchange Place, Kolkata 700 001, Phone: 033-22303242, Fax: 033 2231 3380, 3377, Website: www.indianchamber.org