#Marketwire: NDA Government Plans to Offer Fiscal Incentives to Software Startups & More


#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Microsoft, Monsanto, and Eko

Software Startups To Get Fiscal Incentives

The National Democratic Alliance (NDA) government has introduced a ‘National Policy on Software Products’ to promote Indian technology talent in the international markets. The government has planned to offer benefits for startups, which are building robust software products India.

The policy aims to offer fiscal incentives to startups with a revenue of over Rs. 25 crores, and which employ 25 people or more. Read More

Fintech Startup Eko Ties Up with National Payments Corporation of India to Launch Aadhaar-Based Remittance Service

Mobile-based Fintech startup Eko has tied up with National Payments Corporation of India (NPCI) to launch Aadhaar-based remittance service that will allow the former’s 12.5 million customers to send and receive money in a hassle-free manner.

With the advent of this association, customers will reap various benefits as transactions will be made independent of information like bank name, account number, IFSC code, etc. that are currently required for any financial transfers. Read More

FICCI and IC2 Institute from University of Texas to Launch Technology Accelerator in Tirupati

Andhra Pradesh government, the Federation of Indian Chambers of Commerce and Industry (FICCI) along with IC2 Institute from University of Texas is all set to launch a technology accelerator in Tirupati, next month.

The reason behind setting up the accelerator is to address the issue of unemployment, while building technology for state specific problems such as water management, agricultural technology, security and waste management. Read More

Related Read:  #Fundingwire - FinTech Firm Finvasia Raises Investment at Rs 150Cr Valuation & More

Microsoft and Monsanto Partner to Invest in Agricultural Technology

U.S. based biotech company Monsanto and Microsoft announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million, managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country.

Selected ideas will receive initial funding of up to 1.5 million for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity. Read More

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