#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include TCS, Microsoft, SAP Labs, French Government, Amazon India, SEBI and Uber.
TCS and Microsoft Accelerator Collaborate to Help Indian Startups
A joint initiative has been announced by Microsoft Accelerator in India and TCS Co-Innovation Network (Coin) to create a platform to provide a boost to the Indian startup ecosystem. Under the collaboration, an open innovation framework will be created to mentor and engage with startups to bring their innovative solutions to market.
Stating that access to markets and customers remains one of the biggest challenges for startups in India, the partnership will provide startups the access to the depth of Microsoft and TCS’ networks and relationships across customers, investors, academia and industry, creating a strong value proposition in the enterprise marketplace.
Global Head – Hi-Tech Industry Solutions Unit, TCS, Nagaraj Ijari said, “This partnership will offer participating startups access to the expertise and client-base of both TCS and Microsoft and will create exciting new opportunities to innovate and transform the business landscape”. Read More
SAP Launches Its First Startup Incubation Centre in Bangalore
German software maker, SAP has selected Bangalore for its first startup incubation centre. Under the 12 month accelerator program, the company will invest financially in startups as well as provide space, access to technology infrastructure, mentoring and business consulting.
“We will initially start with reserving 75 seats for the first 10 startups and then we will leave all options open,” Bernd Leukert, member of SAP’s executive board, told Economic Times. “Depending on individual outcome, we might become an equity stakeholder, just have a financial engagement or create a strategic partner programme.” Read More
French Government Kicks Off French Tech Ticket Season 2
A global competition, French Tech Ticket Season 2 open to entrepreneurs with start-ups in the creation or growth phase has been launched by France. The competition is led by the French Government’s French Tech (a tech startup ecosystem that promotes the emergence of successful startups) accompanied by Business France. This unique initiative has created a vibrant international startup and innovation ecosystem in France.
The French Tech provides optimal conditions for start-ups with a clear goal: scale up their growth and enable them to become global champions. In present days, this innovation ecosystem is booming, with record numbers of start-ups, double the amount of capital raised between 2014 and 2015, numerous companies receiving more than $100 million in funding and remarkable initial public offerings by companies such as Sigfox, Criteo, BlaBlaCar, DBV Technologies and Cellectis showing the way.
70 winning team will be hosted in France by more than 40 high-calibre incubators for one full year starting January 2017 and each team will be awarded $63K (€45K) in prize money.
Amazon Hires Fashionara Co-Founder Arun Sirdeshmukh to Head Its Fashion Portfolio
Fashionara co-founder Arun Sirdeshmukh has been appointed as the head of Amazon India’s fashion division. The crucial position had been vacant since September last year when Vikas Purohit quit the e-commerce company.
“As we continue to grow and gain momentum, we are very excited to have Arun Sirdeshmukh join us to lead Amazon Fashion in India,” said Susan Saideman, vice president for global vendor management at Amazon.com. Read More
SEBI may Scrap Planned Listing Platform for Startups
The market regulator is reworking its plans for a capital-raising platform targeted exclusively at start-ups after the concept failed to take off a year after it was proposed, the Securities and Exchange Board of India (SEBI) is considering sweeping changes to the listing framework for technology-focused start-ups that will allow them to trade publicly on regular stock exchange platforms. The changes could involve amendments to as many as 10 SEBI regulations. Read More
Uber Unveils Upfront Fares
After getting embroiled in the controversy around surge-pricing, taxi hailing app Uber is launching a feature that will allow users to pay upfront. However, it is not clear if surge pricing will still be there.Uber, which is battling it out with domestic ride app Ola in India, besides facing regulatory hurdles, especially in Karnataka, has worked out a solution where users know what and how much they are paying upfront.
Upfront fares are calculated using the expected time and distance of the trip and local traffic, as well as how many riders and nearby drivers are using Uber at that moment. And when fares go up due to increased demand, instead of surge lightning bolts and pop-up screens, riders are given the actual fare before they request their ride. Read More