Starlink Will Comply With GOI’s Requirements - Indian Startup News 235

Summary

In this week's news roundup, we cover key developments in India's tech and startup ecosystem. Starlink is one step closer to launching satellite broadband in India after agreeing to comply with security requirements. A new mini Silicon Valley is being developed in Goa, aimed at attracting global investments. In education, Stoa School shuts down as online learning loses post-pandemic traction. Wingify highlights top AI founders in India, and four Indian students win a hackathon at Harvard with their sustainable app. Swiggy's IPO is underway, benefiting employees with ESOPs, while Indian startups raise $127 million in venture capital.

Takeaways

• 😀 Starlink has agreed to comply with India's security and localization requirements, paving the way for its satellite broadband service in India.
• 😀 The agreement with India's Department of Telecommunications (DoT) is a crucial step toward securing a GMPCS license for Starlink in India.
• 😀 Starlink's informal agreement with the Indian authorities could lead to a formal contract in the future, aiming for operational services by 2025.
• 😀 India's Telecom Regulatory Authority (TRAI) is working on spectrum allocation and pricing for satellite services, with rollout expected before 2024 ends.
• 😀 India's Commerce and Industry Minister announced plans for a mini Silicon Valley in Goa, focusing on global capability centers, semiconductor development, and advanced electronics.
• 😀 Stoa School is shutting down after four years due to a decline in interest for online education post-pandemic, with no plans to move offline.
• 😀 Wingify's founder, CH, showcased AI residency program's second batch, highlighting solo founders building innovative AI projects, including solutions for AI filmmaking, 3D photos, and robotic arms.
• 😀 Four Indian engineering students from Amrita University won the Best Hack Award at Hack Harvard 2024 for creating a sustainable AI-powered app called SustainAI.
• 😀 AstroTalk, an astrology startup, reported a massive increase in profit (180% YoY) for FY 24, driven by a significant revenue boost.
• 😀 Swiggy's IPO saw a public outpouring of support from the startup ecosystem, with many Swiggy employees poised to become crorepatis due to ESOPs, with stock sales possible post-IPO lock-in period.
• 😀 Indian startups raised $127 million in the second week, with notable investments in electric vertical takeoff and landing (eVTOL) vehicles and logistics delivery drones.

Q & A

What is Starlink's current status regarding its satellite broadband operations in India?

Starlink has agreed in principle to comply with the Indian government's security and localization requirements, which is a necessary step for obtaining the GMPCS license. Although no formal submission has been made yet, the company is aiming to begin operations in India, possibly by 2025.

Why is Starlink's compliance with the government's requirements important?

Compliance with India's security and localization requirements is crucial for Starlink to secure a GMPCS (Global Mobile Personal Communications by Satellite) license, which would allow them to offer satellite broadband services in the country.

What is the current status of the spectrum allocation for satellite services in India?

The Telecom Regulatory Authority of India (TRAI) is working with stakeholders to decide on the spectrum allocation and pricing for satellite services. Recommendations are expected to be finalized by the end of 2024, after which satellite broadband services, including those from Starlink, may roll out in India.

What is the government's plan for setting up a 'mini Silicon Valley' in India?

India's Commerce and Industry Minister aims to establish a 'mini Silicon Valley' in Goa, focusing on Global Capability Centers (GCCs) to handle IT support, finance, research, and customer service. This initiative is already underway, with 23 industrial estates in Goa attracting investments for projects in data centers, semiconductors, electronics, and automotive production.

What is the reason behind Stoa School's shutdown?

Stoa School shut down after four years due to a decline in demand for online education post-pandemic. The founders decided not to pivot to offline education, as it would have compromised their original mission of being an online-only institution.

What is 'Touring's Dream' and why is it significant?

'Touring's Dream' is an AI residency program founded by CH, the creator of Wingify. The program supports solo AI founders in India, and in its latest batch, nine notable founders presented innovations in AI, such as improving data processing for LLMs, creating 3D photos, and developing AI-driven robotics and healthcare solutions.

Which notable AI founders were part of the latest Touring's Dream batch?

The latest batch of Touring's Dream included AI founders such as Al Kavi (Omni parse), Da Rut (3D photo diffusion), Rami Vagala (robot manipulation), and Arjun Bui (money laundering detection with graph neural networks), among others.

What is the AI-powered app 'Sustainify' developed by Indian students at Hack Harvard?

Sustainify is an AI-powered app created by four Indian students at the Hack Harvard competition. It helps users make healthier and more sustainable food choices by scanning packaging for detailed nutritional information and assessing the suitability based on personal medical history.

How much profit did astrology startup AstroTalk make in FY24?

Astrology startup AstroTalk reported a consolidated net profit of 100 crore rupees for FY24, marking an impressive 180% increase from the previous year's profit of 8.47 crore rupees.

What was the significance of Swiggy's IPO and its impact on employees?

Swiggy's IPO was a major event for India's startup ecosystem, with many employees becoming wealthier through their ESOPs (Employee Stock Ownership Plans). Over 500 employees are expected to become crorepatis, although their wealth is currently in paper form until the stock becomes liquid.

What is the status of venture funding in Indian startups this week?

Indian startups raised $127 million in the past week, marking a decline from the previous trend. Notable companies included Pun Bas Sagram (raising $66.89 million) and eane, an electric vertical takeoff and landing vehicle startup, which raised $15 million to continue its R&D.