Daily Morning Briefing Top news & stories from the Startup Ecosystem from India

While You Were Asleep

Daily Tech Briefing: SoftBank’s Fund For Minorities; Facebook Signs Deal With Saregama Music & More One of the largest venture capital firms in the world, SoftBank has rolled out a $100 Mn Opportunity Fund to invest in businesses led by people of colour. The fund has been raised in response to the controversial death of George Floyd in the United States and mass protests and riots over police brutality.

Union Cabinet Sets Up Empowered Committee To Fuel Domestic, Foreign Investments In a bid to fuel investments in the pandemic-led slowdown, the central government has set up an Empowered Group of Secretaries (EGOS) chaired by the union cabinet secretary to encourage both foreign and domestic investments into India.

Govt Offers $6 Bn Sops For ‘Make In India’ Push In Smartphone Manufacturing Amid globally reducing interest towards manufacturing in China, the Indian government has now brought in a new slew of benefits to attract India as a replacement unit. IT minister Ravi Shankar Prasad announced the launch of $6 Bn plan to boost electronics manufacturing, saying it would start by offering five global smartphone makers incentives to establish or expand domestic production.

Exclusively For Inc42+ Members

Kiranas Vs Dark Stores In India’s Retail Market Post-Covid It's tough for a tech-driven dark store segment to compete with the scale of the network and familiarity of local kirana stores across the country. Where dark stores are purely technology-driven, kirana stores are more capable of doing personalised curation. "In terms of delivery cost also, dark stores need high ticket size orders while Kirana can operate at a lower end as well. In crux, where the kirana store is not able to deliver, a dark store might not be able to deliver as well," added Maxwholesale’s Agrawal.

Adult-Rated Content: Can India Level Up? "When I was working at one of India’s top IT companies in 2017, I started getting benched on more and more projects. Managers would choose younger employees who were not really proficient in the project processes but coded in modern languages like Python. I had two choices: rant about the unfairness of it all or level up. I chose the latter!"

Chart Of The Day

The Indian animation and VFX industry grew at a CAGR of 18.60% between FY17 and FY18 and is projected to grow at a CAGR of 15.50% during 2018-2023. Around 60% of the animation work done in India constitutes backend work as well as finishing touches and colouring for global studios, according to the animators and studios that Inc42 spoke to. And while the work in India majorly revolves around kids’ animated content for OTT platforms and mainstream TV, storyboards for advertising, 2D and 3D animation for logos, portraits, banner ads, among others, the segment is growing in adoption even for mainstream non-kids’ content on digital media platforms.

Explore DataLabs By Inc42

Watch Now

Inc42 AMA | OYO’s Ritesh Agarwal On Building The New Playbook For Hospitality In today's #AskMeAnything session, we will dive into the massive hospitality sector with OYO founder and CEO Ritesh Agarwal. So come join us in "Building The New Playbook For Hospitality" with Ritesh at 3 PM today and get his unique perspective on managing a global brand in this crisis. Register now!

Inc42 Shots | Payment Delays, Product Delisting Add To Seller Woes On Amazon, Flipkart After facing severe losses for over close to two months due to the nationwide lockdown, online sellers are now facing the wrath of policy changes of ecommerce majors Flipkart and Amazon. Stream the video now to know more!