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Startup News
Inc42
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Amazon Pay Trims Losses 39%, Revenue Surges 9% In FY24
- Amazon Pay India, the digital payments arm of Amazon, reduced its losses by 39% to INR 911 Cr in FY24.
- Revenues from operations increased by 9.2% YoY to INR 2,286.9 Cr in FY24.
- Amazon Pay processed approximately 70.9 Mn UPI transactions in the previous month, holding about 0.5% of the total transactions on the network.
- Amazon Pay India is working with the National Payments Corporation of India (NPCI) to roll out credit services to customers through UPI.
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ISN
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2 lakh Kirana stores forced to close due to rise of quick commerce platforms, says AICPDF
- Over two lakh kirana stores in India have closed due to the rise of quick commerce platforms.
- Metropolitan areas have seen the highest concentration of kirana closures, followed by Tier 1, Tier 2, and Tier 3 cities.
- Quick commerce platforms are under scrutiny for predatory pricing practices, making it challenging for kiranas to compete.
- Kirana stores are adopting digital methods to retain customers as consumer preferences shift towards quick and convenient deliveries.
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Gritdaily
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From Challenges to Triumph: How Fernanda Diaz Built a Thriving Real Estate Business Through Perseverance and Passion
- Fernanda Diaz, manager at Network Real Estate Company, has proven that hard work and perseverance can lead to remarkable success.
- Reflecting on her journey, Fernanda recalls, “Ever since I started working in real estate, I realized that this is my life. I’ve been here ever since then.”
- Building a strong foundation for her business required determination.
- According to Fernanda, success in real estate requires more than just market knowledge; it also demands the right mindset.
- Networking and building relationships are key components of success in this field.
- One aspect of her work that brings Fernanda the greatest joy is working with first-time homebuyers.
- Today, Fernanda and her husband run Network Real Estate Company, which has grown into a thriving business with a team of ten realtors.
- Fernanda and her husband are deeply committed to helping their team grow.
- Fernanda’s experience has taught her that every transaction is unique, and not all will go smoothly.
- Throughout her career, Fernanda has built a reputation for being a dedicated professional who always puts her clients first.
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AllTopStartups
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How Gas Prices and Well Count Influence Your Royalties Per Acre: A Comprehensive Analysis
- Understanding how gas prices and the number of wells impact royalties per acre is crucial for landowners with mineral rights. Gas prices rise, royalty payments can increase, making this a crucial factor for anyone with mineral rights on their property.
- Negotiating leases with energy companies, setting terms for royalty percentages, is important. If the price for gas is $2.50 per thousand cubic feet (Mcf) and costs like gathering and transportation are around $0.30/Mcf, landowners would receive royalties from the remaining net value.
- Larger well counts can help sustain or improve the royalty income over time by diversifying the points of production.
- Gas prices play a crucial role in determining the income royalty owners receive from their properties. Several factors, including deductions for post-production costs, can influence the actual revenue received.
- Natural gas prices are influenced by multiple factors. Market dynamics, such as supply and demand, have a significant impact.
- Royalty payments are often calculated based on the gas price per thousand cubic feet (mcf) sold. This simple calculation, however, is just the starting point.
- Post-production costs often reduce the gross production value. These can include processing, marketing, and transporting the gas. Local taxes and regulations can also influence the final payment.
- The number of wells drilled in a county directly impacts the royalty payments landowners receive. Improvements in technology mean companies can access reserves that were once too difficult or expensive to reach, increasing potential royalties.
- Economic factors such as oil and gas prices play a significant role in determining royalty values. As prices rise, royalty payments to mineral rights owners generally increase, which makes oil and gas production more profitable.
- Mineral owners must evaluate their agreements meticulously, understanding how these economic dynamics influence their earnings over time.
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AllTopStartups
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7 Tips for Surviving Family Gatherings This Holiday Season
- The holiday season can be filled with both warmth and chaos when it comes to family gatherings.
- To survive and thrive during these gatherings, it's important to start with a positive mindset and focus on the opportunity to reconnect with loved ones.
- Preparation is key, as it helps anticipate potential sensitive topics and steer conversations in positive directions.
- Having a secret weapon, such as Delta 8 gummies, can provide a calming effect and help navigate any challenging moments.
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ISN
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Image Credit: ISN
Finova Capital raises $135 million in series E funding led by Avataar Venture Partners, others
- Jaipur-based Finova Capital raises $135 million in a Series E funding round.
- The round was led by Avataar Venture Partners, Sofina, and Madison India Capital.
- Finova plans to use the funds to grow its loan book, expand geographically, and enhance its technology infrastructure.
- Despite catering to the high-risk MSME sector, Finova has maintained high asset quality and reported strong financial performance.
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TechCrunch
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EU boosts EIC budget for supporting deep tech R&D and strategic scale-ups
- The European Union will spend €1.4 billion (about $1.5 billion) next year to bolster deep tech research and support scale-ups.
- The budget for the 2025 Work Program of the European Innovation Council (EIC) has been increased by nearly €200 million compared to last year.
- The EIC STEP Scale-Up scheme will have a budget of €300 million in 2025 to secure larger investments in companies that bring strategic technologies to the EU and help avoid dependencies by unlocking private sector co-investment.
- The EIC Work Program 2025 includes funding schemes for research-focused projects, commercialization-focused projects, and startup and SME support, with a total budget of €994 million.
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Yourstory
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Image Credit: Yourstory
Meet the man revolutionising CA education in India with a student-first approach
- Swapnil Patni has revolutionized CA education in India with his student-first approach through SPC, an online education platform for CA students.
- Patni's vision is to create India’s largest edtech platform by expanding into several professional courses while using cutting-edge AI.
- SPC uses innovative teaching methods by simplifying complex concepts through real-life examples, interactive lessons, revision sessions, and regular tests to evaluate student performance.
- SPC has trained over 2,50,000 students till now, especially those from Tier III and IV cities, who may not have had access to quality education earlier.
- Patni has put a strong focus on maintaining high teaching standards, which has been achieved by training and building a remarkable team of educators recognized across India.
- SPC uses a user-friendly platform for its students, making it accessible for those in remote parts of India to pursue CA education without having to relocate.
- In addition to innovative teaching methods, Patni has introduced Gurukul, India’s first premium residential facility exclusively for CA students for their holistic growth and development.
- SPC uses technology to automate internal business processes to scale efficiently, and the company uses social media effectively with over 1.5 million followers on various platforms.
- SPC’s focus has always been on student satisfaction and results rather than profit, and the company has made a total revenue of INR 78 crore as of 2023-24.
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Medium
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Tech Trends to Watch in 2024: What Startups Need to Know
- Startups that integrate AI/ML into their operations will have a competitive edge.
- Cloud-native technologies will continue to evolve, offering scalability and cost-effectiveness.
- Edge computing will become a major trend, benefiting startups in IoT, logistics, and healthcare.
- Startups incorporating blockchain technology can enhance trust and transparency in their products.
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Economic Times
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Karnataka launches Elevate and KAN to support startups
- The Karnataka government has launched two initiatives, Elevate 2024 and Karnataka Accelerator Network (KAN), to support startups.
- Elevate 2024 will provide grants of up to Rs 50 lakhs per startup, along with extensive support and access to venture capital networks.
- KAN will facilitate mentor and mentee accelerators for growth-stage startups, benefiting a total of 302 startups over three years.
- The government aims to strengthen the startup ecosystem and build Karnataka as a leading hub for innovation and entrepreneurship.
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Startupreporter
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Aanchal Saini Wins Miss Urvashi 2024, Mahvish Khan is First Runner-up, Mamta Khinchi Second Runner-up
- Aanchal Saini from Nagpur emerged as the winner of Miss Urvashi 2024
- Mahvish Khan from Delhi secured the first runner-up position
- Mamta Khinchi from Jaipur was named second runner-up
- The grand finale of Miss Urvashi 2024 was held in Jaipur and showcased the elegance and grace of its contestants
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Startupreporter
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The Healing Bay: Mumbai’s Trusted Name in Rudraksha, Holistic Products, and Vedic Puja Services
- The Healing Bay (THB) is a Mumbai-based company known for Rudraksha imports, holistic products, and Vedic puja services.
- THB ensures authenticity and quality by sourcing Rudrakshas directly from trusted farms and delivering freshly sourced, energized beads every 15 days.
- In addition to Rudrakshas, THB offers self-manufactured holistic products focused on aura healing and mental wellness.
- THB caters to a global clientele through Vedic puja services and provides comprehensive instructions along with shipping of holy offerings.
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AllTopStartups
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Image Credit: AllTopStartups
4 High-Risk Industries With Workplace Safety Concerns
- Construction, mining, arboriculture, and fishing industries pose significant risks to employees.
- Construction workers are at risk for falls, machinery accidents, and musculoskeletal disorders.
- Mining hazards include cave-ins, exposure to toxic chemicals like silica dust and methane gas, and long-term risks of chronic health problems.
- Arboriculture poses risks of falls, injuries due to falling tree limbs, equipment involving saws, and working around power lines and musculoskeletal disorders.
- Having proper safety protocols, PPE, and machinery handling training can mitigate the risks in construction, arboriculture, and fishing industries.
- PPE like helmets, harnesses, and safety goggles can reduce the likelihood of accidents in arboriculture.
- Fishing involves battling rough seas, unpredictable weather, and handling unpredictable marine life and requires constant attention and quick reflexes.
- Fishing-related deaths occur annually and it is one of the most dangerous jobs in the US.
- Ensuring a safe work environment for employees should be a top priority for employers across all industries.
- Understanding workplace safety risks is vital to supporting those who face them head-on every day.
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AllTopStartups
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Beyond the Billboard: Building a Personal Injury Website That Actually Gets Clients
- The best personal injury websites understand the emotional state of their target audience and tailor their messaging and design accordingly.
- The most effective websites go beyond self-promotion by serving as a trusted resource and offering guidance and support.
- Use warm, calming colors and imagery to extend a virtual hand of empathy and understanding in a time of need.
- Keep website content fresh with regular updates, informative blog posts, and engaging content.
- Avoid coming across as overly aggressive or pushy in calls to action; create an environment that feels both accessible and reassuring.
- Focus on local keywords and phrases to ensure that your firm appears when someone in your community needs legal help.
- Ensure that your site is easy to use with keyboard navigation, screen readers, and other accessibility features.
- Optimize your Google My Business listing to appear in local map packs and position your firm to be found by those who need your help most.
- Use powerful client testimonials to highlight the positive impact your legal representation had on their physical, emotional, and financial well-being.
- Craft a digital presence that truly stands out in the crowded personal injury market by prioritizing user experience, informative content, and effective SEO strategies.
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Medium
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Image Credit: Medium
How a man, a woman and two dogs started a company
- A man and a woman in Ilfracombe started a company to help local businesses lower their costs.
- They created 1558 Ltd, which aims to bring small and medium-sized businesses together.
- The company offers a Business Utility Broker service to negotiate the best energy deals.
- Their goal is to help businesses access the benefits of bulk discounts and reduce costs.
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