Bengaluru has 3rd highest number of tech start-ups among global cities

coastaldigest.com news network

October 26, 2018

Bengaluru, Oct 26: The capital of Karnataka has the third highest number of tech start-ups among global cities after Silicon Valley and London, says a Nasscom report.

According to the report, which was launched on Thursday, India continues to hold its position as the third largest startup ecosystem, with 1,200 tech startups emerging in 2018, taking the total to between 7,200 and 7,700.

The report said the ecosystem created more than 40,000 direct jobs in 2018 in India, taking the total employment in the segment to 1.6-1.7 lakh. Another 4-5 lakh are estimated to be employed indirectly.

Start-ups from tier-2 and tier-3 cities are also seeing growth, with the report showing that 40% of the startups operate outside Bengaluru, Delhi NCR and Mumbai.

India's start-up ecosystem has seen phenomenal growth in investments in 2018, but worryingly, investments in the seed stage fell, and that in early stage grew just marginally.

Overall investment grew 100% to $4.2 billion in 2018 (Jan-Sep), from $2 billion in the same period in 2017.

“India’s start-up landscape has become the epitome of innovation and we are seeing many startups tackling locally relevant issues,” said Debjani Ghosh, president, Nasscom.

India start-ups have also achieved volume and scale with 2018 seeing the addition of 8 unicorns, taking the total number of unicorns in India to 18. Unicorns are privately funded companies that have a valuation of more than $1 billion. This year saw the entry of Udaan, Oyo, Freshworks, Swiggy, Paytm Mall, Policybazaar, Zomato, and Byju's to the billion dollar club.

Nasscom said collaboration with Israel, South Korea, Netherlands, Canada, Japan, England, France, Australia, Estonia, Germany and Russia have seen the creation of more than 400 cross border start-ups in 2018, and 14 international startup exchange missions. Consumer startups like Oyo, Ola, Byju's, Zomato, Wittyfeed, Practo and GOQii have expanded overseas. Ghosh said the government needs to go further in opening up India as a market for startups, ensure ease of doing business and bring predictability in policy-making.

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Warning! Cancer-causing chemicals found in bakery products, especially cakes in Karnataka

News Network

October 3,2024

Bengaluru: The Karnataka Food Safety and Quality Department has issued an urgent warning following the discovery of potentially cancer-causing chemicals in cakes sold by certain bakeries across the state.

Recent tests conducted by the department revealed that some cake samples, particularly those with vibrant colors, contain harmful synthetic coloring agents such as Allura Red, a substance known to pose health risks. The findings have raised concerns about the use of artificial colors in bakery products, especially given their potential link to cancer and other serious health conditions.

"We routinely test various food products, and this time, our officials noticed unusually dark-colored cakes on the market," said Srinivas K, Commissioner of Food Safety for Karnataka. "Upon testing, we found that a few cakes contained Allura Red, a synthetic dye associated with health risks."

The use of artificial colors, especially in popular cakes like red velvet and pineapple varieties, is widespread as it attracts customers, particularly children. However, many bakers prefer using natural, safer alternatives, while some opt for synthetic dyes to enhance the cake's visual appeal.

"Most bakeries use permissible, natural colors that are safe for consumption. Unfortunately, a few are resorting to synthetic dyes just to make their cakes more attractive," said a bakery owner from Electronic City, speaking anonymously.

Medical experts are warning that consuming synthetic colors can lead to numerous health issues, including asthma and allergic reactions.

"Some of these artificial dyes are carcinogenic, and prolonged exposure could have serious consequences, especially for children and young adults," cautioned Dr. Vandana G, a private medical practitioner.

While the Food Safety and Standards Authority of India (FSSAI) confirms that only a limited number of samples tested positive for harmful colors, legal action is being taken against the violators.

"There is no need for widespread panic or halting production. We are closely monitoring the situation, and only a few bakeries were found to be non-compliant. Rest assured, appropriate legal measures are underway," assured an FSSAI official.

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