🚀From Bengaluru to Odisha: How Indian States are Revolutionizing Start-ups (Issue 003)

In today’s Issue 📥 :

• 🚀🇮🇳 From Bengaluru to Odisha: How Indian States are Revolutionizing Start-ups.

• Bill Gates makes roti from scratch.

• A 2007 original, sealed iPhone 1 might get $50,000 at auction.

Revving Up the Revolution

On August 26, 2022, Odisha Chief Minister Naveen Patnaik launched the ‘Startup Odisha Yatra 2.0,’ which traveled through the state’s 30 districts. Over the course of 60 days, the mobile start-up incubator visited over 100 higher education institutions, collecting over 1,300 start-up pitches from students.

Following its success, the state government decided that the principles and mindset of entrepreneurship should be instilled in more students from the ground up, and launched a second campaign called ‘Start-up Express,’ which toured across 19 districts and received approximately 1,270 ideas from school-aged students.

Focus on Small Towns:

The next stage for states with well-established start-up ecosystems is to shift the attention to smaller towns. For example, Karnataka, which has the most vibrant start-up scene in the country, is trying to leverage its leadership position in the industry to become a significant contributor to national GDP while building new start-up clusters around the state.

In Uttar Pradesh, the state launched a new Startup Policy 2020 with the goal of establishing 100 incubators across the state’s 75 districts.

Funding Start-ups:

India attracted $24 billion in private equity and venture capital investment in 2022 and state governments are supporting early-stage companies through initiatives such as funding programs.

As of September 24, 2022, the Indian government’s Fund of Funds for Startups has committed Rs 7,385 crore to 88 alternative investment funds. The fund was launched in 2016 with a corpus of Rs 10,000 crore and the supported AIFs have a target corpus of over Rs 48,000 crore.

HOT SIP

A 2007 original, sealed iPhone 1 might get $50,000 at an auction.

The most recent iPhone is the iPhone 14, which was released in September – but it all began in 2007, and the very first Apple-made handsets that were released that year are now worth far more than their $499 asking price.

An original, unopened iPhone 1 is now up for sale (via AppleInsider), with a starting bid of $50,000 (about £41,480 / AU$72,235 at today’s currency rate). After 16 years, that’s not a bad return on investment.

This is “one of the most important and ubiquitous inventions of our lifetime” according to the auction listing, a device that “forever changed the smartphone industry” and which is now “widely regarded as a blue-chip asset amongst high-end collectors”.

The technological marvel of the century

This antique tech treasure is expected to fetch a high price at auction with past similar items reaching nearly $40,000. Currently, at over $11,000, the bidding continues until next Thursday. Although it may be considered the gadget of the century, its limited 3.5-inch screen and 16GB storage with a 2MP camera fail to match today’s phone standards.

SMALL SIPS

On Success: Shah Rukh Khan’s old video goes viral: ‘Success will not come unless you are completely restless!’

Price: Tesla increased the price of its Model Y by $1,000 after the Biden administration increased the price threshold for certain EVs eligible for tax incentives.

Earth Quake: A severe earthquake in south-eastern Turkey, close to the Syrian border, has killed over 2,300 people in both countries.

PBB: Amid the continuous opposition demonstrations over the Adani-Hindenburg issue, Congress leader Rahul Gandhi on Monday accused Prime Minister Narendra Modi of trying to do “his best to avert a discussion in the Parliament”.

With CHAI ☕

Ceo: Google CEO Sundar Pichai introduces Chat-GPT rival Bard; here’s what it can do.

How to: Grow an Audience if You Have 0 Followers.

Aww: Cute bunny eating strawberries :>

It’s Interesting: The world’s oldest company, Kongo Gumi, a construction company in Japan, was in operation for over 1,400 years before it finally went bankrupt in 2006. Founded in 578 AD, Kongo Gumi built many of the country’s famous temples and shrines and survived wars, economic crises, and other challenges over its 14th-century history. This demonstrates the resilience and adaptability that businesses can embody, and also highlights the importance of innovation and staying relevant in a constantly changing marketplace.

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