Amazon expands Accelerator for private labels; Karnataka’s new IT policy to focus on tier-2 cities

Amazon Accelerator, which helps small manufacturers launch brands, is being scaled up in India. Karnataka will roll out a new information technology (IT) policy next week to maintain its upper hand as the go-to destination for technology firms. 

 Amazon expands Accelerator for private labels

Amazon Accelerator, which helps small manufacturers launch brands, is being scaled up in India, the Economic Times reports.

The retail giant’s comes amid government’s increased scrutiny on ecommerce players.

Amazon is planning to push its own private labels like Symbol and Solima among the product segment. It is also reaching a select few sellers to be part of this programme, it added.

Karnataka to unveil new IT policy

Karnataka will roll out a new information technology (IT) policy next week to maintain its upper hand as the go-to destination for technology

firms and startups, the Economic Times reports.

C N Ashwath Narayan, deputy chief minister and minister for IT, BT and Science and Technology, said that the policy will focus on tier-2 and tier-3 cities and the government will strengthen educational institutions to become incubation centers in the future.

“The government will do its best to create a favorable ecosystem for startups in Bengaluru,” he added, ET reports. 

The report revealed that nine Bengaluru-based unicorns’ founders will be honored at the 22nd edition of the Bengaluru Tech Summit (BTS), which begins on November 18.

India plans Rs 500 cr fund to support 250 defence startups

 The Ministry of Defence (MoD) is in the process of seeking approvals of Rs 500 crore to fund startups working to create products and solutions for the defence sector.

The ministry plans to fund 250 startups and achieve 50 tangible innovations in the next five years to boost the government’s Make in India program in the defense arms production, the press statement said.

Also, Rajnath Singh, defense minister of India,  gave Rs 1.5 crore each to two startups, North Street Cooling Towers and Chipspirit Technologies,  for their innovative ideas, during the launch of the third phase of Defence Startup Challenge, the statement added.

The Defence India Startup Challenge (DISC) - III was launched under which three challenges from the Army, Navy and Air Force were thrown open to prospective startups.

An iDEX Open Challenge was also launched to provide an opportunity for innovators to come up with their technologies that may be adapted to the country’s defense requirements.

Oyo elevates Harshit Vyas to chief business officer 

Gurugragm-based hospitality major Oyo Hotels and Homes has elevated Harshit Vyas as its chief business officer (CBO), India.

In the new role, Vyas will report into Aditya Ghosh, CEO, Oyo Hotels and Homes, India and South Asia. He will be responsible to drive the execution of all business metrics including supply, demand, and operations. 

He will have field teams across India reporting to him and will work closely with the central capability functions, the company said in a statement.

Prior to the current role, he was the head of the West region where he led a team of over 2000 employees.

AI-powered healthcare startup ekincare raises $3.6 mn in Series A round

Artificial intelligence-powered health benefits platform ekincare has raised $ 3.6 million in Series A round of funding led by new investors. The company did not disclose the name of the investors.

Other existing investors including Venture East, Eight Roads and Touchstone equities also participated in the round, the Hyderabad-based startup said in a statement.

The latest round takes the total funding raised by ekincare to $5.6 million. 

Aayuv Technologies, which runs the startup will use the fresh funds to strengthen its technology platform, business development, marketing and expand its portfolio of offerings in the corporate health benefits market, the statement added.

Founded in 2014 by Kiran Kalakuntla and Srikanth Samudrala, ekincare is a health benefits platform that helps companies administer benefits efficiently, optimise their healthcare spends and show real health outcomes.