PUNE: Accelerating India’s trajectory toward Viksit Bharat 2047, the Pune Chapter of the Hindu Economic Forum (HEF) successfully concluded its high-profile Shakti Summit 2026 at the Pune International Centre. The summit represented an operational launchpad for Bharat’s Strategic Power Framework: Strategic Defence & Aerospace, Hindu Temple Economy, Artificial Intelligence, Knowledge & Media, Technology, and Infrastructure. 

The Summit delivered extensively on its multipronged objective: anchoring indigenous Artificial Intelligence, unlocking domestic venture capital, and reinforcing strategic self-reliance (Atmanirbharta) across critical defence and economic ecosystems

Shri Jishnu Dev Varma, Hon’ble Governor of Maharashtra, graced the event as the Chief Guest, delivering the special address. He underlined the importance of stronger collaboration between government, industry, investors, and knowledge institutions in sectors central to India’s long-term growth and strategic self-reliance.

Gaurav Tripathi, President, HEF Pune District Chapter, and Co-founder & CTO, Partex.AI said, “The SHAKTI Summit 2026 marks a paradigm shift in how we approach economic growth. We are now building an execution-first ecosystem where serious capital, strategic industrial sectors, and civilizational clarity converge.

The Pune AI Grid is positioning Pune as the Applied AI and Strategic Capital of Bharat by redoubling its manufacturing and digital prowess. By aligning our deep research talent, robust industrial shopfloors, and foundational infrastructure, we are turning national priorities like Atmanirbhar Bharat into measurable economic milestones.”

The $500 Million Pune AI Vision:

Partex.AI presented a comprehensive roadmap to establish Pune as the global capital of applied AI: from a $50 million foundation phase with distributed GPU clusters and an AI Model Foundry, scaling to a $500 million platform aimed at training 100,000 professionals and developing exportable solutions for defence, manufacturing, and healthcare.

Dr. Gunjan Bharadwaj, Founder & CEO, Partex.AI, stated: “The Pune AI Vision is an opportunity to leverage exploratory and exploitative innovation on a scale that few cities globally can match. By unifying Pune’s unique constellation of talent, we can build decision-making technology that transforms not just Indian industry, but the world. Partex is committed to being a partner in this vision, bringing our expertise in AI-driven platforms to accelerate innovation across defence, manufacturing, and life sciences.”

India’s First Indigenous Autonomous Surface Vehicle on Display for the First Time:

Accurate Industrial Controls displayed ISACA, India’s first indigenously developed Autonomous Surface Vessel. Validated through Indian Navy-evaluated trials, ISACA combines AI, sensor fusion, and indigenous collision-avoidance software, marking a major milestone in India’s maritime autonomy.

Shri Kiran Jadhav, Chairman & Managing Director, Accurate Group, said: “Indigenous autonomous vessel technology is a statement of India’s capability and our resolve for Atmanirbharta. At the SHAKTI Summit, we created the conditions for transformative solutions that will serve our nation’s defence and maritime strength.”

Strategic Discussions on critical sectors: formed a highlight of the summit, covering defence, aerospace, rare earths, infrastructure, technology, temple economy, AI, startups – by a diverse selection of industry leaders, founders, and experts.

To ensure these strategic conversations yield tangible results, the HEF Pune District Chapter announced the formation of a Defence Working Group, reinforcing their commitment to structured, post-summit follow-through.

The post HEF Pune’s SHAKTI Summit 2026: A $500M AI Roadmap and Strategic MoUs to Propel Startup Investments appeared first on NRI News.

NEW DELHI: In a move few Indian consumer startups have attempted before, UClean, India’s largest laundry and dry-cleaning chain, has announced its entry into Somalia and Mongolia — two frontier markets rarely targeted by Indian franchise-led service brands.

The expansion marks a significant milestone for the Faridabad-based startup, which is rapidly emerging as one of India’s most globally ambitious consumer service brands. While Indian businesses traditionally focus on safer and mature international destinations such as the UAE, Singapore, London, or Dubai, UClean has chosen to enter regions often perceived as difficult due to logistical, economic, and geopolitical challenges.

Industry observers believe this could be among the first instances of an Indian organised laundromat and franchise-driven consumer service brand establishing operations in Somalia and Mongolia.

The move comes as UClean accelerates its international expansion strategy across emerging economies. Over the past year, the company has expanded into Nepal, Bangladesh, Sri Lanka, the UAE, Ghana, and Mauritius, with Somalia and Mongolia now joining its growing global footprint.

“Entering markets like Somalia and Mongolia reflects our belief that organised laundry services are a universal need, irrespective of geography,” said Arunabh Sinha, Founder & CEO, UClean.

“These are regions where very few Indian consumer brands have ventured. For us, this is not just about business expansion, but about creating entrepreneurship opportunities and building a truly global brand from India,” he added.

Founded in 2017 by Arunabh Sinha and Gunjan Taneja, UClean operates on a franchise-led model and has built a rapidly growing network of tech-enabled laundromats across India and overseas. Its “live laundry” concept — where customers can witness the cleaning process in real time — has emerged as a strong differentiator across international markets.

The company’s international growth strategy comes at a time when the global franchise market is witnessing rapid expansion. According to Research and Markets, the sector is projected to grow by over USD 565 billion between 2025 and 2030, driven by increasing demand for scalable and service-led business models.

UClean has raised nearly $1.6 million from investors, including Franchise India Holdings, Rajiv Jalan, and US-based angel investor Anubhav Chopra. The startup also received early visibility support from actors Soha Ali Khan and Kunal Khemu as brand partners.

With its latest expansion, UClean is positioning itself as one of the few Indian consumer startups aggressively building a presence in underserved global markets — far beyond conventional business geographies.

The post An Indian Startup’s Bold Move to Somalia and Mongolia appeared first on NRI News.

The project focuses on identifying and structuring financing instruments adapted to the needs of early-stage ventures operating in civil law systems. Contractual solutions widely used in common law jurisdictions, such as convertible notes, simplified convertible preferred shares, and SAFE agreements, have proven effective in reducing cost, complexity, and negotiation time. However, their application within civil law frameworks requires further legal development, particularly to ensure compatibility with Islamic finance principles.

Within this framework, the initiative combines research, comparative legal analysis, and contract design to review existing risk-sharing financing models, assess their alignment with Islamic finance principles, and examine the feasibility of adapting comparable mechanisms to the Spanish legal framework. Particular attention is given to identifying enabling factors as well as legal and regulatory constraints that may affect their implementation.

Building on this analysis, the project will develop a set of Shari’ah-compliant risk-sharing contract models fully compatible with Spanish and European Union law. These models are conceived to ensure legal enforceability, economic efficiency, and adaptability for use across EU Member States and, more broadly, in non-European civil law jurisdictions, including North Africa and the Gulf.

The project also evaluates the potential of these instruments beyond early-stage ventures, with a view to supporting entrepreneurship more broadly and contributing to more ethical, inclusive, and socially responsible economic development.

“This project represents an important step in strengthening the Islamic finance industry by translating its core principles of risk sharing, fairness, and real economic activity into legally robust instruments suitable for contemporary startup ecosystems,” said Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute. “By anchoring these solutions in European civil law frameworks, the initiative supports the development of Islamic finance in Europe and offers scalable models adaptable to Muslim countries with civil law or hybrid legal systems, reflecting IsDBI’s commitment to ethical, inclusive, and innovation-driven finance at a global level.”

Dr. Celia de Anca, Deputy Dean and expert in Islamic Finance at IE University, who is leading the development of this project, said. “Ensuring that entrepreneurs have access to suitable financial tools is essential for the success of their ventures and for the sustainable development of local and regional economies.

Startups play a key role in innovation and social value creation. Islamic finance offers principles that are highly relevant today, but they require practical and flexible legal instruments that can work across different jurisdictions. This initiative responds to that need and comes at a particularly relevant moment, with the new EU-INC (European Inclusive Company) framework, which will greatly facilitate the adoption of these legal innovations across Europe.”

The post IsDBI and IE University Unite to Develop Risk-Sharing Financial Solutions for Startups in Civil Law Jurisdictions appeared first on NRI News.

Through this program, Mphasis has been actively collaborating with Nasscom’s InnoTrek participants, particularly US-based startups, by offering mentorship, enterprise solution guidance, and customer access. In the 2025 edition, Mphasis partnered with five standout startups from the InnoTrek cohort, namely Edgeable AI, Perpetuuiti Technosoft, QuoQo, and SuperBryn AI, helping them refine their offerings and connect with enterprise clients worldwide.

Mphasis will be working closely with these startups to co-create enterprise-grade solutions by providing technical mentorship, refining their go-to-market strategies, and facilitating access to global enterprise clients. Their key focus areas include Edge AI, IT resiliency, and automation powered by AI, AI-led contract management, and voice-based AI operations.

“At Mphasis, we develop our solutions in-house while actively seeking innovative partnerships, particularly with startups that address region-specific challenges. In a world where speed and agility are crucial, this dual approach enables us to deliver faster, more effective solutions to our clients. In September, we hosted the 2025 edition of Nasscom’s InnoTrek for startups in New York. InnoTrek enables us to explore opportunities to partner, share expertise, and extend support while continuing to strengthen our engagement with the broader innovation ecosystem. We value our ongoing collaboration with Nasscom on InnoTrek and look forward to engaging with this year’s startup cohort,” said Srikumar Ramanathan, Chief Solutions Officer, Mphasis.

“Nasscom’s DeepTech startups have consistently raised the bar on innovation, building solutions that are globally relevant and industry-defining. Programs such as InnoTrek exemplify the power of industry–startup partnerships, where enterprises and startups come together to co-create, mentor, and accelerate breakthrough technologies. Collaborations like these are critical for strengthening the deep tech ecosystem, enhancing innovation capabilities, and encouraging more startups to develop enterprise-ready solutions tailored to sectoral needs. We congratulate the startups on this milestone and their partnership with Mphasis in driving enterprise-focused innovation,” said Sangeeta Gupta, Senior Vice President & Chief Strategy Officer, Nasscom.

Mphasis continues its collaboration with Nasscom for InnoTrek 2025, evaluating and selecting promising startups to induct into the Sparkle Innovation Program. These startups will receive hands-on guidance in product positioning, go-to-market strategies, and enterprise client engagement, accelerating their journey to becoming global technology leaders.

The post Mphasis’ Sparkle Innovation Program: Partnering with Startups to Drive Next-Gen Solutions for Clients appeared first on NRI News.

Even though there is ample support for innovations to become ventures at the School and Higher Education levels, minimal support exists for the Technical and Vocational Education and Training (TVET) sector, which includes more than 13 lacs students enrolled in ITIs and NSTIs. The majority of the TVET graduates get absorbed in the industry, work as trainers or educators, or get into traditional self-employment trades.

Speaking at the launch, Debashree Mukherjee, Secretary, MSDE, Government of India, said, “At the Ministry of Skill Development and Entrepreneurship, we believe that every skilled individual carries within them the potential to become a job creator. Through this partnership with the Aditya Birla Capital Foundation, we are enabling NSTI students to channel their technical skills into innovation and enterprise. The Navonmesh Protsahan Spardha will empower our young innovators to transform ideas into sustainable ventures, strengthening India’s vision of becoming an Aatmanirbhar and innovation-driven nation.”

The innovation challenge has been launched under the title Navonmesh Protsahan Spardha: Kaushalta se Udyamita, to nurture skill-based innovation in NSTI students. Being a first-of-its-kind innovation challenge, it will cater to 10,000+ NSTI students and will include mentoring, prizes, access to resources, and further incubation for launching the ideas of students in the market. The focus of the program will be students with innovative ideas in IT/ITeS, Automotive, Apparel, Electronics & Hardware, Power, and Capital Goods & Manufacturing sectors. Pilani Innovation and Entrepreneurship Development Society (PIEDS), the incubator of BITS Pilani, would be managing this program, and is being supported under the Corporate Social Responsibility initiatives of the Aditya Birla Capital Foundation.

The post MSDE, ABCF, and BITS Pilani Collaborate to Launch Innovation and Start-up Challenge for NSTI Students appeared first on NRI News.

PUNE: GTT Data Solutions, a BSE-listed firm and leading technology enabler known for its proprietary Dual Intelligence solutions combining specialised human expertise and advanced AI-driven technology, has announced the launch of GAIN (GTT Data AI Accelerator Network) — a strategic initiative that is at the core of GTT Data’s growth strategy. With a mission to stay at the forefront of technology and accelerate digital transformation, GAIN is an ecosystem-building platform designed to foster collaboration, innovation, and funding support for emerging AI businesses in India. GAIN is GTT Data’s flagship effort to empower a new generation of AI companies that prioritise human impact while solving real-world challenges.

GTT Data envisions GAIN as a collaborative platform for potential funding support, mentorship, and business advisory services, as well as go-to-market enablement through joint offerings and strategic partnerships across various industries and verticals, including technology services, healthcare, engineering, pharmaceuticals, retail, legal, and real estate. These startups bring cutting-edge solutions across trending niche technologies, including: Intelligent Automation (encompassing Cognitive Process Automation and advanced Natural Language Processing), Advanced Healthcare AI (including AI-powered medical imaging), and Vision AI (covering AI for DLOps and visual data processing). Over the next six months, more than 100 startups are expected to benefit from the GAIN initiative, which may include potential investments from Sangli Miraj Commercial Ventures.

“We have never had an AI-first approach at GTT Data; we truly believe in the collaboration between human entities and AI to create dual intelligence. With GAIN, we’re creating a launchpad for India’s AI businesses not just to survive, but to lead with purpose. We believe the future of AI must be shaped by partnerships, not silos. And its impact must be measured not just in productivity gains, but in how it uplifts human potential. GAIN is our commitment to making India a formidable, collaborative force in the global AI movement — where machines serve mankind, and not the other way around,” said Srikumar Kumar, President, GTT Data Solutions.

The initiative’s formal rollout commenced in Pune, where 22 AI companies and 45 founders, co‑founders, and key leaders deeply entrenched in technology innovation presented their innovations, shared their vision, and explored strategic collaborations. The congregation of over 40 founders, co-founders, and senior technologists was led by GTT Data’s leadership team, reinforcing the company’s commitment to fostering industry-wide transformation. These companies also received mentorship from GTT Data’s experts, showcasing both the rising interest in AI and GTT Data’s active commitment to nurturing emerging technologies.

Sarang Kamalakar, Founder, Parentheses and Humac, said: “GAIN – by GTT Data is a congregation of the AI community. It is a unique convergence of technologists sharing emerging technology. AI startups collaborate with leaders in Digital Transformation aka GTT Data. Mentoring, collaboration, and shared passion bring the alike together here. GTT DATA is driving “cumulative success” with a vision of enhancing Indian Tech.

Amit Ananpara, Founder, Innoplexus, added: “GAIN by GTT data was a remarkable showcase of cutting-edge AI innovation where companies demonstrated how AI advancements are driving real business value across diverse use cases. The event delivered invaluable insights into breakthrough technologies, highlighting the collaborative spirit and transformative impact of AI across industries.”

Rajesh Purshotam, Founder, Transcend Discoveries, shared: “We proudly participated as a partner in GAIN’25, the GTT Data AI Accelerator Network’s flagship event held at Novotel, Viman Nagar, Pune. The event brought together leading minds in data science, AI, consulting, and emerging technologies to explore the future of data intelligence and collaborative innovation, and we at Transcend found that we can navigate into the landscape with collaboration as a key lever to pivot to the next level.”

Despite being the world’s third-largest startup ecosystem, India continues to face challenges around startup survival and scalability. India’s AI startup landscape is expanding rapidly, with over 4,500 ventures, 40% of which have emerged in just the last three years. Yet, industry data paints a sobering picture: nearly 90% of startups don’t make it, and 7 out of 10 shut down within a decade. GAIN addresses this by nurturing collaboration over competition, encouraging adjacent businesses to join forces, and helping AI entrepreneurs move beyond isolated, linear growth paths.

GTT DATA invites all stakeholders passionate about India’s AI-led future to be part of this landmark moment, where human-centred technology meets opportunity, and collaboration becomes the catalyst for national progress.

The post GTT DATA Launches GAIN with a Focus on Human-Centric Innovation appeared first on NRI News.

“Envisioning a fully developed nation by the 100th year of our independence, it is crucial that every individual, every community, and every sector realizes its full potential. To achieve this ambitious goal, the cooperative sector must play a significant role,” Athawale emphasized in his keynote address.

Key Proposals:

1. 500 Cooperative Startups: These startups will focus on aspirational districts, harnessing local resources, skills, and ideas to address regional challenges and create economic opportunities.

2. 500 Campus Cooperatives: Youth-centric institutions will be established on campuses to foster innovation in technology, digital services, sustainability, and green energy. These platforms will encourage collaboration and experimentation, enabling students to launch ventures.

3. Cooperative Commodities Exchange: Aimed at empowering farmers and small producers, this exchange will ensure transparent trade, fair pricing, and equitable benefits. It will provide a marketplace to bridge the gap between producers and buyers, boosting rural India’s economic potential.

4. Cooperative Economic Zones: Special zones will be set up to foster economic growth through cooperative-led industries. These zones will focus on sustainable development and inclusive growth, creating job opportunities and promoting rural-urban integration.

Focus on Sustainability, ESG, and the Social and Solidarity Economy:

The Global ESG Conclave also highlighted the importance of creating a Social and Solidarity Economy (SSE), which prioritizes social and environmental well-being alongside economic development. The World Cooperation Economic Forum is actively championing this cause by encouraging innovative cooperative-led approaches that contribute to Sustainable Development Goals (SDGs), particularly SDG 10 (reducing inequality).

One such initiative is Coopathon4SDG10, a platform designed to foster collaboration, innovation, and problem-solving among cooperatives, entrepreneurs, and youth leaders. This initiative aims to generate impactful solutions for reducing inequality and creating inclusive economic opportunities.

During the event, Dileep Sanghani, Chairman of IFFCO and President of the National Cooperative Union of India, emphasized the need for cooperative mechanisms to tackle global challenges like climate change. Binod Anand, Co-Founder of the World Cooperation Economic Forum, highlighted the importance of ESG principles in preparing youth for leadership and sustainability.

Strategic Collaboration:

A Memorandum of Understanding (MoU) was signed between the Centre on Integrated Rural Development for Asia and the Pacific (CIRDAP) and the World Cooperation Economic Forum. This collaboration aims to strengthen agricultural cooperatives, empower rural communities, and promote knowledge exchange across Asia-Pacific.

The World Cooperation Economic Forum continues to play a pivotal role in shaping a global cooperative movement by driving sustainability, fostering inclusive development, and creating pathways for a fairer and more resilient economy. Through initiatives like Coopathon4SDG10 and the SSE model, it is working to transform challenges into opportunities for equitable growth.

The initiatives proposed at the conclave highlight the critical role of the cooperative sector in ensuring that India becomes a developed nation by its centenary of independence in 2047.

—

The post Ramdas Athawale’s Proposal for Campus Cooperatives and Economic Zones appeared first on NRI News.

The MSME Secretary, Tmt. Archana Patnaik I.A.S., and StartupTN’s Mission Director and CEO, Thiru Sivarajah Ramanathan, were present at the meeting. StartupTN officials presented an overview of the ongoing activities and outlined the plans.

StartupTN will conduct the Tamil Nadu Global Startup Summit in Chennai. This flagship event is organized to position Tamil Nadu’s startup ecosystem on the global stage by promoting the growth of both emerging and established startups. More than just an event, it will serve as a hub for the exchange of ideas, innovation, and inspiration.

The objective of the event is to showcase Tamil Nadu’s vibrant startup ecosystem on an international platform, facilitate connections between startups and global stakeholders to attract investments and foster collaborations, thereby easing Tamil Nadu startups’ entry into international markets, and showcase Tamil Nadu’s brands and innovations on a global stage.

The post How the Tamil Nadu Startup and Innovation Mission is Transforming the Entrepreneurial Landscape appeared first on NRI News.

NEW DELHI: A first-of-its-kind, MountTech Growth Fund or MGF-Kavachh by former Defence Secretary Dr. Ajay Kumar, along with three co-founders, is specifically tailored to nurture startups that drive advancements in deep-tech and strategic sectors, ensuring the indigenization of critical technologies, products, and services essential for India’s national security and technological leadership.

Dr. Kumar, who has been instrumental in steering many of India’s technology and defense-related policy reforms, now spearheads MGF-Kavachh as its Founder and Chairman.

“India stands at a pivotal moment, with an unparalleled opportunity to leverage its strengths amid evolving global dynamics. MGF-Kavachh aims to catalyze this growth by focusing on local innovation and the indigenization of critical technologies in areas of national importance. MGF-Kavachh will nurture promising start-ups working at the intersection of innovation, space, aerospace, deep technology, and India’s ‘Atmanirbhar’ agenda while solving its strategic needs across sectors like National Security, Defence and Aerospace, and Digital Communications,” stated Dr. Kumar.

Since receiving SEBI approval in January 2024, MGF-Kavachh has swiftly garnered commitments surpassing its planned corpus size of ₹250 crores. The fund has declared its first close at over  100% of its targetted corpus reflecting the strong confidence and interest from investors and institutions in the thesis as well as the MGF-Kavachh team. It will now be using its green-shoe option of another ₹250 crores before its final closure.

An exceptional team backs the fund, with Air Chief Marshal RKS Bhadauria (Rtd.) Vice Admiral SN Ghormade (Rtd.), and Lt. General Dr Anil Kapoor on the Strategy and Oversight Board, among other notable names. The Advisory Council comprises eminent experts and professionals who passionately share MGF-Kavachh’s vision of a “Stronger India Safer World” and includes Smita Purshottam, IFS (Rtd.), Ex Indian Ambassador to Switzerland and Venezuela and Founder of SITARA; Gani Subramaniam, Founding and Managing Partner Yali Capital; Dr. Manan Suri, Prof. IIT Delhi; Binay Kumar Singh, IPS (Rtd.), Ex DGP Chhattisgarh, Ex Intelligence Bureau Veteran; Ravi Singh, a versatile and respected deep tech Investor, Arvind Lakshmikumar, deep tech entrepreneur and founder Tonbo Imaging; Dr. Vinod Agarwal, a renowned semi-conductor expert, tech investor and serial entrepreneur from the Silicon Valley, Dr. Pratyush Kumar – Tech Investor, and Former Head – Boeing South Asia and Vish Sahasranamam – Co-founder of Forge Innovation and Ventures – a leading private incubator of India.

 Former senior telecom industry executive Mr. Raj Sethia is a co-founder and Managing Partner and leads a small but exceptional team of professionals. He brings with him a deep understanding of business, finance, and technology, a rare combination.

The fund’s focus on IP and technology-driven businesses aims to transform India into a hub of strategic and technological excellence in the space, aerospace, and deep-tech sectors. 

“The Fund’s strategy is built on four pillars: rigorous gatekeeping, robust portfolio construction, a unique acceleration platform for its investees, and a razor-sharp execution focus,” expressed Raj Sethia, Founder and Managing Partner at Kavachh.

“Self-reliance in strategic sectors is an existential need for the country and a lucrative opportunity for investors,” shared Suryakant Dalmia, Co-Founder at MGF-Kavachh.

“MGF-Kavachh, with its focus, credibility, and platform, will be the first port-of-call for founders, co-investors, institutions, and eco-system players,”, shared Abhinav Munshi, Co-Founder at Kavachh.

The post Former Defence Secretary Dr. Ajay Kumar’s MGF-Kavachh India’s First VC Fund Announces Its First Close At Over 100% Of Its Targeted Corpus appeared first on NRI News.

Jai Chechani further highlights that this synergy between startups and educational bodies will result in a more dynamic and responsive educational system, capable of adapting to the rapid pace of technological and market changes. He believes collaboration between startups, the government, and industry is crucial to maximizing the benefits of skilling initiatives, as startups can offer internships, mentorships, and training programs, while the government can facilitate funding and resources.

These insightful perspectives from Jai Chechani set the stage for the upcoming Global Unicorn Summit 2024, scheduled for August 24, 2024, in Bengaluru. The upcoming summit, in partnership with Zee Business and WION, will bring together over 500 industry leaders to delve into crucial topics such as disrupting marketplaces, the fintech revolution, and the transformative potential of Web3, blockchain, and crypto innovations, etc.

The post Startups’ Role In Skilling Initiatives Ahead Of Global Unicorn Summit 2024 appeared first on NRI News.