Startup News roundup for Week ending 13th November
News you can use
New Report: Smart Cities will thrive with National Policy Support – New technologies have created the opportunity to build smart cities capable of collecting and analyzing vast quantities of data to automate processes, improve service quality, and make better decisions. With most of the world’s population now living in urban areas, these transformations stand to significantly improve many people’s quality of life. But local officials cannot achieve this on their own. National governments have an important role to play in coordinating the development of smart cities and ensuring their long-term success, according to a new analysis by the Center for Data Innovation.
The U.S. government is investing about $200 million in overseas venture capital funds – According to a recent article in reCode, The U.S. government plans to spend hundreds of millions of dollars in venture capital funds overseas as part of an expanded federal program to do good around the world through what’s known as “impact investing.”
India Adds 1,000 Tech Start-Ups in 2017: NASSCOM – As we approach the end of 2017, we are likely to see a lot of articles on the number of startups added in each region and country.The chairman of Indian trade association NASSCOM Raman Roy was recently quoted saying “About 1,000 tech start-ups were registered this year (2017), taking their total to 5,200 and making India the world’s third largest start-up ecosystem.”
LinkedIn Startups: The 50 industry disruptors you need to know now – Daniel Roth, Editor in Chief of LinkedIn recently published a review of some of the most iconic ‘startups’ of our time (link). He introduces the topic stating “Some of the most fascinating businesses today are startups. Sensing a chance to transform (or take over) a market, founders are channeling their seemingly endless flow of venture funds into new ideas — and top talent. We wanted to see which startups were winning the talent game. Who are the 50 most in-demand upstarts in the U.S. today?”
Corporate Startup Ventures and M&A
Alibaba Seeks Regulatory Approval Looks To Acquire Substantial Stake In Online Grocery Startup Bigbasket – If The Deal Goes Through, Alibaba Will Be Pouring $200 Mn In The Grocery Delivery Platform. In a bid to acquire a stake in online grocery startup Bigbasket, Chinese ecommerce giant Alibaba has reportedly sought the approval of the Competition Commission of India (CCI). The news comes four months after the Jack Ma-led company and Paytm Mall initiated discussions with Bengaluru-based Bigbasket for a potential $200 Mn investment.
Apple acquires image sensing startup InVisage Technologies – Apple has acquired an image sensing startup called InVisage Technologies that develops solutions to improve imaging capabilities on space-constrained devices, like smartphones, TechCrunch reports. InVisage’s key product is called QuantumFilm, which combines software technology and material science to create smaller imaging technology that is better at taking high quality pictures in a variety of non-optimal lighting conditions.
Startups that failed last week
Hellocar is another UK car-buying startup closing doors – The used-car market seems ripe for disruption, not least in terms of customer service and creating a better experience online. However, if recent events are anything to go by, it is a hard nut to crack. Following Carspring going quiet after Rocket Internet pulled its funding, another U.K. car-buying startup looks to be shutting up shop. According to sources, London-based Hellocar has ceased trading, and hasn’t listed any available cars for sale since at least late October. The startup was incubated by Founders Factory before being “spun out,” and in February announced it had raised £1 million in a funding round led by JamJar Investments (the venture capital fund run by the Innocent Drinks founders) and Zoopla founder and CEO Alex Chesterman.