This is for developing tools for strengthening cyber security and advising the stock exchange on current and future cyber-related issues. The MoU will also include the IIT assisting in testing for vulnerabilities in BSE’s IT system and network, forming guidelines and auditing security operations, performing cyber security research in financial markets and developing an ecosystem for dealing with current and future cyber security challenges.
The funds have been sanctioned through India Aspiration Fund which is also managed by the Government. The proposals which have been sanctioned include from IvyCap Ventures, Blume Ventures and Exfinity Venture Partners. These funds will receive about 15% to 20% of SIDBI’s total investment in startups. SIDBI had also signed a MoU with LIC India, according to which it will contribute 10% of the fund as a co-investor. It will take at least 12 to 18 months for the startups to receive the funds.
Cisco has signed a MoU with the Andhra Pradesh government to set up an Internet of Everything Innovation center in Visakhapatnam. The center will enable the company’s partners and startups to build IoT solutions and carry out rapid prototyping of products. Cisco will also invest in developing a Technology center of Excellence and a research lab at the Institute of Digital Technology at Tirupati, which will focus on smart cities, digital security and manufacturing solutions.
Uber has signed an MoU with the Haryana Government, according to which the cab hailing app will invest Rs 120 crore in the state. The investment will be made in the services including peer-to-peer transportation using private vehicles where the driver is reasonably compensated for expenses, tolls and other related costs. The company says that this will help to create a real alternative to car ownership and make the state smarter.
Supertech announced an investment of Rs 5,706 Cr over 7 years to develop affordable housing and township projects in Haryana and generate 5,000 employment opportunities. The company has signed a MoU with the Haryana government in this regard at investors meet ‘Happening Haryana Global Summit 2016’.
The MoU has been signed with Empressa de Brazil Communicacao, where they will exchange TV and radio news, programs on football, culture, cuisine, carnivals and drama and co-produce shows. This is the agency’s first agreement with a South American company and was signed between Jawhar Sircar, the CEO of Prasar Bharati and EBC’s vice president Mario in Brazil. The MoU will also cover a list of Indian programs to be broadcast on EBC and include documentaries, science programs, TV shows and Portuguese programs from Goa.
Apple has stated that it plans to set up a Research & Development centre in Hyderabad, reports ET. The tech giant plans to invest $25million in the new R&D centre, which could employ about 4,500 people. An Apple spokesperson told ET that the new Hyderabad R&D centre “will be home to over 150 Apple employees supporting maps development.” Apple is yet to sign a MoU with the IT ministry of Telangana, which will give it an area in the SEZ near Tishman Speyer’s WaveRock facility.
Mahindra & Mahindra plans to invest Rs 8,000 crore on its automotive plants in Maharashtra over the next 7 years as part of its expansion plans. The investment will be made over a period of seven years and utilised towards infrastructure development, product development and capacity expansion for vehicles. A MoU in this regard was signed between the company and the state government. Maharashtra Principal Secretary (Industries) Apurva Chandra and M&M Executive Director Pawan Goenka signed the deal in the presence state Chief Minister Devendra Fadnavis.
Rashtriya Ispat Nigam Limited inked a pact with the Andhra Pradesh government for expanding its capacity with an investment outlay of Rs 38,500 crore. The MoU was signed on the second day of the three-day-long Partnership Summit being held here. The MoU envisages an investment of around Rs 38,500 crore to take up various projects at Visakhapatnam with an employment opportunity for around 3000 people.
Walmart India is planning to open 15 more cash-and-carry stores in Andhra Pradesh apart from setting up a centre for sourcing agriculture products from small and marginal farmers. Meanwhile, four leading retail chains – Walmart India, Future Group, Spencers and Arvind — have signed MoUs with the state government to invest Rs 1,500 crore in Andhra Pradesh with a commitment to generate 25,000 jobs.