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25 startups were granted pre-seed funding by Gujarat University

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Nowadays, people are showing interest in launching their own startups rather than working for any other company. To inculcate the entrepreneurship values and to encourage budding entrepreneurs, government is also coming up with new campaigns for it. Startup India by Government of India and T-hub by Telangana State Government are of that kind.

Gujarat University Startup and Entrepreneurship Council (GUSEC) in association with Gujarat CSR Authority also initiated a campaign called Jump Start, an opportunity for startups to get pre-seed funding. They received applications from 350 startups, out of which 50 applications have been moved forward. The shortlisted startups are invited for an interview and 25 startups became eligible for pre-seed funding.

Through this Jump Start, the selected startups are granted with a pre-seed fund of Rs. 40,000, necessary infrastructure, incubation and mentorship for their growth and development.

The most start ups which are selected are incubated in GU Startup and Entrepreneurship Council and Gujarat University. Only a few are out of Gujarat University. But after being selecting for this Jump Start, all startups are given the same preference. The rest 25 startups among the shortlisted are given with infrastructure support, incubation and mentorship at GUSEC.

To advance and support the budding entrepreneurs in the University, GUSEC was established in November 2015. The Gujarat University SEC has the capacity to incubate 80 startups. Till today it has supported 43 startups. Presently 36 startups are incubated in it.

The mission of GUSEC is to create job creators, not the job seekers. It also plans to set up a centralized startup support system for all the colleges under it.

The 25 startups which are selected for the grant are:

1) Sudaksha: It adapts drone technology in real time to improve the stability without the requirement of calibration.

2) Synbiotic Foods: This food startup offer products with Spirulina to improve nutrition levels. Also, they provide a combo of prebiotics and probiotics.

3) Sports Wearable: It is an IoT device to record and analyze the data of an athlete and gives feedback.

4) WeHear: They are working on hearing aids for deaf people. This device is BlueTooth enabled and the user can listen to songs and speak on phone.

5) My Class Campus: For effective communication among teachers, students, parents and management, My Class Campus is a personalized application for that purpose.

6) Resource Center for Actuarial Mathematics: It is a center for actuarial studies which involves advanced mathematics and statistics.

7) Funkaar Gigs: It is a connection between musicians and people who are looking for musicians.

8) Tractor Sodho: It is a rental service provider for farm machinery and equipment.

9) Planet Earthligs: They develop a virtual world and network to bring all children around the world to learn at a place.

10) CampusYaari: They developed a custom merchandise solutions for small and big brands.

11) Chemsol: Developed a synthetic method for a cancer drug, which may change how drugs are made around the globe.

12) Salubrious Gujarat: They are working to explore medicinal plants for critical illness.

13) Wittybrowns: They are to introduce moral and practical education to students across several schools.

14) D.A.C.H: It is called as De Assemble Camera Holster. It is used to decrease the weight of professional camera from neck and shoulders to the waist of the photographer.

15) SciTech: They are working to develop scientific approach and aptitude in children up to age 14 years.

16) Infin24: They are a guide to customers to buy mutual funds and financial assistance to customers.

17) Lutalica: It is a forum of the same kind of writers to share and express their thoughts.

18) PreBOO: It is an application which enables tutors and teachers to send reports and other activities of the student to parents.

19) StudentDesk: It is a platform where students can sell, buy, exchange and donate their books.

20) App-based Ambulance Calling and Tracking: A mobile based application which enables to request an ambulance on phone.

21) CashBasket: It is a platform where the customer can find many discount coupons and cash cards.

22) Luminati: They are with an innovative idea to design smart clothing.

23) ieacon: They have created a new platform to interact with customers. By this, the distance between the customers and merchants can be decreased.

24) BrainyBottle: They developed a mechanism for the self-destruction of used plastic and aluminum bottles.

25) Kollegians: It is a college management system which can host data from multiple colleges at a time.

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Elon Musk Works 120 Hours a Week, Stays In Factory For 4 Days

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In an interview with The New York Times, Elon Musk said he has been working 120 hours a week. It is more than three times the national average work week, according to the Bureau of Labor Statistics.

As the CEO of two major companies, Tesla and SpaceX, Musk seems to be having a hard time delegating his work. This is making him overworked.

“The classic problem as an entrepreneur is that they have a hard time delegating,” Robert Pozen senior lecturer at MIT Sloan School of Management. “But that’s really crazy. Recruiting other executives is critical, so is dealing with customers and dealing with regulators. Those are functions that only the top founders can do.”

Silicon Valley has been criticized for glorifying overworking. “A culture of overwork is damaging because it turns brief binges of hard work into a long-term strategy, and, worse still, an expectation. When managers start measuring the worth of their employees according to how quickly they return emails at 3 a.m., that particular work culture is broken,” said Adam Alter, a professor at NYU’s Stern School of Business.

Musk realised that this behaviour is harmful and has been affecting his life drastically.

“There were times when I didn’t leave the factory for three or four days – days when I didn’t go outside,” Musk said. “This has really come at the expense of seeing my kids. And seeing friends.”

Elon Musk also revealed that he has not been on vacation since 2001, he has spent his most recent birthday at work. Musk added, he has trouble sleeping “it is often a choice of no sleep or Ambien.”

It has been reported that the Tesla executives are looking for a number two, to take on some of Musk’s daily responsibilities. Musk said that he is not aware of this search and has no plans to step away from his many roles at Tesla.

As the CEO of two major companies, Musk is known to keep an intense daily routine. Inc. previously reported that the CEO ignores most phone calls, abstains from getting stuck dealing with emails, and breaks his entire day into a series of five-minute slots. But apparently, he’s still there for 120 hours a week.

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Google Parent invests $ 375 Million In Oscar Health

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Google’s parent company, Alphabet has invested $ 375 million in an insurance startup company, Oscar Health.

Post the investment, Alphabet will own 10% of the stake in the startup. Alphabet through its venture firm CapitalG and the life sciences division Verily participated in a $ 165 million funding round for Oscar Health.

Founded in 2012, Oscar Health is a technology-focused health insurance company that is headquartered in New York City.

Oscar Health co-founder and CEO Mario Schlosser said, “it’s fantastic for us because it will really allow us to focus fully on the core model we’ve been building for the past 6 years, which is: use technology, use data, use design, use a human approach to build a very different health care experience,”

The startup offers health coverage through ObamaCare in six states. Oscar Health is planning to introduce new innovation like providing a “concierge” team, which includes a nurse. The nurse will help the people enrolled to find suitable doctors.

Schlosser announced the news in an interview,  “We can hire more engineers, we can hire more data scientists, more product designers, more smart clinicians who can think about health care a different way. It’s the acceleration of that product roadmap that fascinates us the most. The second, more tangible piece, is that we’re launching new product lines.”

The co founder of Oscar Health, is Josh Kushner, the brother of Jared Kushner. Jared Kushner is Donald Trump’s son-in-law and adviser. This relationship is quite intriguing looking at Oscar Health’s participation in ObamaCare.

Schlosser in an interview said Josh Kushner’s connection to Trump “does not affect what we do.” He added, “Whatever happened in the press, whatever happens on the regulatory side, I have personally always thought, and I think the company shares in this, that if we have something that leads to lower costs and happier members in some shape or form we’ll be able to turn this into a successful company.”

 

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No Work Between 6 PM – 8 AM At Amazon India

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Amit Agrawal, CEO of Amazon India said “No business decision should be made between 6 PM – 8 AM”  in an email to the senior team members of Amazon. Agrawal asked members of the Amazon India team to maintain a healthy “work-life harmony.” This would encourage the employees to be more productive during work hours.

This announcement comes after Amazon was criticised at an international level for over working their employees. Amazon India is making changes for the better and is building a wholesome relationship with their employees with this recent announcement.

This decision might bring about a change in the Indian work culture as Indian’s on an average work 8.1 hours more than any employee from Europe and North America. Due to this destructive relationship of Indians with their work, it is appreciated Amazon India took this step to recognise the problem and address it head on.

It is not clear if this decision was made by Agrawal solely or was ordered by the company’s global leadership. Amazon recently listed 237 new “work from home” positions in and outside of the US, 235 of which are full time. By the looks of it, Amazon is actively tackling its toxic work culture and might succeed in so doing.

According to a study from Switzerland’s University of Zurich and the U. S., University of South Florida, people who do not separate work life and personal life, tend to be more exhausted. This hinders their productivity and creativity. “Organizational policy and culture should be adjusted to help employees manage their work-non-work boundaries in a way that does not impair their well-being,” lead study author Ariane Wepfer said.“ After all, impaired well-being goes hand in hand with reduced productivity and reduced creativity” Wepfer added.

What do you think about this announcement by Amazon India? Do you agree with it? Let us know in the comment section below!

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