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Industry News Nikkei Asia - MUFG to Invest $195m in Thai Mobile Payment Service Under CP Group - 26/06/24 Mitsubishi UFJ Financial Group will invest $195 million in Thai mobile [...]

Three Societies Distillery, the first single malt whisky producer in South Korea, is capitalizing on the global interest in Korean culture to drive its growth. The distillery's Ki One single malt whiskies are now available in seven international markets, including the US and the UK. While the overall market for luxury items, including whisky, is experiencing a downturn, Three Societies has seen an increase in sales due to duty-free purchases by foreign tourists. The company plans to target whisky enthusiasts and Korean establishments in new markets, with a focus on countries with a large Korean diaspora. The distillery also produces a unique single malt gin and is exploring new product innovations, such as a bottled highball and a Korean edition single malt. [Extracted from the article]

The article focuses on how SpaceX's Starship, with its large capacity and reusability, is poised to transform the space industry by significantly lowering launch costs and increasing access to space, creating new opportunities for venture capitalists and space-related businesses.

The fund has commenced pre-investment activities, including engaging with select startups and their founders [ABSTRACT FROM AUTHOR]

May 25, 2023 Venture capital (VC) funds are sources of startup financing for early-stage, high-growth firms, such as technology startups. According to the Securities and Exchange Commission (SEC), as of [...]

UK prebiotic soda start-up Xoxo has raised £2.5m ($3.1m) in a fundraising round, with backers including JamJar Investments, the venture capital investment fund of ex-Innocent Drinks owners. Xoxo plans to use the capital to expand its presence in the UK. The founders of JamJar Investments praised Xoxo's potential to disrupt the soft drinks market. Xoxo was founded in 2022 and its products are currently sold in approximately 4,500 retail units across the UK and Europe. [Extracted from the article]

Sourcery, a company in the supply chain industry, is inviting its growers, manufacturers, traders, and brands to become equity owners through its stock option program. This program aims to create a supply-chain-owned corporation that will transform trade. The stock distribution is based on equal member contributions over a five-year period, ensuring equal participation and influence among partners. Sourcery also has a two-tiered governance structure that gives partners equal interest and votes in decision-making. The company plans to raise additional growth capital through the US Securities and Exchange Commission Regulation A+ to allow partners to sell their shares and profit from their investment. Sourcery believes that its focus on sustained growth is better suited for the industry than traditional venture capital. [Extracted from the article]

Shein, a popular online fashion retailer, has reportedly filed for a listing on the London Stock Exchange (LSE) in June. The exact date for the initial public offering (IPO) is not yet known. Shein is seeking a valuation of up to $90 billion, which would make it one of the top-10 largest companies on the FTSE 100. The news comes amid concerns about Shein's business model and allegations of forced labor in its supply chains. Some UK parliamentary committee chairs have called for more time to assess and investigate these concerns. Shein had previously considered a listing in the US but has now opted for a London listing. An IPO could support Shein's global expansion and improve its reputation, but it would also subject the company to increased scrutiny. Republican senator Marco Rubio has raised concerns about Shein's business practices and urged caution before allowing the listing in London. [Extracted from the article]

According to the Food for Climate report, investments in climate-focused food start-ups in Europe are expected to decrease by 45% in 2024, reaching $1.1 billion. This drop is attributed to a lack of large funding rounds. France received the highest amount of climate-focused food tech funding in 2023, while the UK experienced the largest decline in investment. However, Belgium, Switzerland, and Iceland saw significant growth in climate food tech investment. Additionally, funding for alternative proteins in Europe is predicted to decrease by 64% in 2024, with mycelium expected to receive the most funding. Investments in cocoa and coffee alternatives are also projected to increase due to rising raw material prices. [Extracted from the article]

Dutch cultivated-meat producer Mosa Meat has raised €40m ($42.5m) in funding from a combination of new and existing investors. The funding round included contributions from VTEC Ingredients, a business owned by German poultry major PHW-Gruppe, as well as Dutch state-owned investment group Invest-NL and the EU-run funding program InvestEU. The funds will be used to scale up production and reduce manufacturing costs as Mosa Meat prepares to enter the market with its cultivated beef burger. Mosa Meat is also awaiting regulatory approval from the Singapore food agency to sell its cultivated beef in the country. [Extracted from the article]

The U.S. Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs has always been high, primarily because small businesses are viewed as a means to stimulate economic activity and create jobs, but it has become especially acute in the wake of the Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the national economy. This report provides a brief description of the SBA's access to capital programs and includes congressional action to assist small businesses during and immediately following the Great Recession (2007-2009) and during the COVID-19 pandemic, including the following: • P.L. 111-5, the American Recovery and Reinvestment Act of 2009 (ARRA), provided the SBA an additional $730 million, including $375 million to temporarily subsidize SBA fees and increase the 7(a) loan guaranty program's maximum loan guaranty percentage to 90%. • P.L. 111-240, the Small Business Jobs Act of 2010, authorized numerous changes to the SBA's loan guaranty and contracting programs; provided $510 million to continue the SBA's fee subsidies and 90% maximum loan guaranty percentage through December 31, 2010; and provided about $12 billion in tax relief for small businesses. • P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), among other provisions, created a new $349 billion (later increased to $813.7 billion) Paycheck Protection Program (PPP) to provide forgivable, lowinterest loans to assist small businesses, small 501(c)(3) nonprofit organizations, and small 501(c)(19) veterans organizations that have been adversely affected by COVID-19. The loans were originally available through June 30, 2020, and were later made available through May 31, 2021. When the national economy is doing well, congressional debate typically involves the extent to which the federal government should provide the SBA additional resources to assist small businesses in acquiring capital necessary to start, continue, or expand operations and create jobs. Those opposing providing additional resources typically worry about the long-term adverse economic effects of spending programs that increase the federal deficit. They generally advocate business tax reduction, reform of financial credit market regulation, and federal fiscal restraint as the best means to assist small business economic growth and job creation. During and immediately following recessions, concerns about fiscal constraint are typically superseded by the perceived need to help small businesses access the capital necessary to create or retain jobs. During these times of economic distress, congressional debate tends to focus on finding the means to provide additional SBA assistance to small businesses as quickly and efficiently as possible. This report addresses a core issue facing the 117th Congress: What, if any, additional action should the federal government take to enhance small business access to capital? [ABSTRACT FROM AUTHOR]

The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs, and the SBA's assistance provided to small business startups in particular (defined as new businesses that meet the SBA's criteria as small), has increased in recent years, primarily because these programs are viewed by many as a means to stimulate economic activity and create jobs. Economists generally do not view job creation as a justification for providing federal assistance to small businesses. They argue that in the long term such assistance will likely reallocate jobs within the economy, not increase them. In their view, jobs arise primarily from the size of the labor force, which depends largely on population, demographics, and factors that affect the choice of home versus market production (e.g., the entry of women in the workforce). However, economic theory does suggest that increased federal spending on small business assistance programs may result in additional jobs in the short term. Congressional interest in assistance to business startups is derived primarily from economic research suggesting that startups play a very important role in job creation. That research suggests that business startups create many new jobs, but have a more limited effect on net job creation over time because fewer than half of all startups remain in business after five years. However, that research also suggests that the influence of small business startups on net job creation varies by firm size. Startups with fewer than 20 employees tend to have a negligible effect on net job creation over time whereas startups with 20-499 employees tend to have a positive employment effect, as do surviving younger businesses of all sizes (in operation for one year to five years). This report examines small business startups' experiences with the SBA's 7(a), 504/CDC, and Microloan lending programs; and the SBA's Small Business Investment Company (SBIC) venture capital program. Although data collected by the SBA concerning these programs' impact on economic activity and job creation are somewhat limited and subject to methodological challenges concerning their validity as reliable performance measures, most small business owners who have participated in these programs report in surveys sponsored by the SBA that the programs were useful. Given the data limitations, however, it is difficult to determine the cost effectiveness of these programs. The report also discusses the SBA's growth accelerators initiative, which targets entrepreneurs looking to "start and scale their business" by helping them access "seed capital, mentors, and networking opportunities for customers and partners," and the recently sunset SBIC early stage debenture program, which focused on providing venture capital to startups. [ABSTRACT FROM AUTHOR]

The article focuses on venture capital operations and regulation. It discusses the role of venture capital funds in financing startups, the stages of the startup funding cycle, VC business models and practices, regulatory frameworks applicable to VC funds and advisers, and policy proposals aimed at expanding capital formation under VC funds.

There will be a continued emphasis on expanding the space economy by five times over the next 10 years. To support this goal, a venture capital fund of Rs 1,000 crore will be established. [Extracted from the article]

The Union Budget 2024-25, presented by Nirmala Sitharaman, focuses on employment, skilling, MSMEs, and the middle class. It includes schemes for employment and skilling, such as providing salary to first-time employees and incentives for job creation in manufacturing. The budget also prioritizes agriculture, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms. Changes in indirect and direct taxes are proposed, along with measures to simplify tax processes and deepen the tax base. The revised tax rate structure aims to provide a clear and progressive tax system for individuals in India. [Extracted from the article]

The article focuses on the U.S. Small Business Administration (SBA) administers several types of programs to support small businesses, including direct disaster loan programs for businesses, homeowners, and renters; loan guaranty and venture capital programs. It mentions Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the national economy. It also mentions passage of Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

The article reports that Congress passed budget reconciliation legislation, the American Rescue Plan Act of 2021 that includes an appropriation of 10 billion U.S. Dollar for another round of funding for the State Small Business Credit Initiative (SSBCI). It mentions SSBCI expand existing or create new state small business investment programs, including state capital access programs, collateral support programs, loan participation programs, loan guarantee programs, and venture capital programs.

DayDayCook, a culinary-focused content platform, has successfully built a food business by leveraging its influence as an online influencer. The platform, founded by Norma Chu, started by offering recipe advice and home cooking demonstrations before launching its own product range. With 60 million active viewers and 3.5 million paying customers in China, DayDayCook expanded to the US, raising money through an IPO and acquiring peers. Chu's ambition is to create "the future General Mills for Asian food," and her success suggests that this influencer-driven approach may become more common in the industry. [Extracted from the article]

How did US regional economies perform recently? What are the key factors driving their growth and decline? The Milken Institute's Best-Performing Cities series has tracked the economic performance of US metros for two decades using job, wage and salary, and high-tech gross domestic product (GDP) indicators. Metros are ranked on their performance, while indicators help identify the drivers behind their success or failure. With this publication, we hope metros will learn from others' experiences and enhance urban economies in the long run., Table of Contents EXECUTIVE SUMMARY 1 Best-Performing Large City 2 Biggest Gains 3 Best-Performing Small City 3 INTRODUCTION 4 An Emphasis on Outcomes 5 National Economic Conditions 6 Biggest Gains [...]

The article focuses on trends in U.S. patenting data, highlighting potential geographic, socioeconomic, racial, and gender-based disparities in patenting activity. It mentions academic scholarship has shown that factors such as limited access to a quality STEM education, mentorship, exposure to inventive activity. It also mentions income levels have also been shown to impact patenting rates and advanced training and education, research and development funding, and venture capital.

The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty and venture capital programs to enhance small business access to capital; contracting programs to increase small business opportunities in federal contracting; direct loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters; and small business management and technical assistance training programs to assist business formation and expansion. Congressional interest in these programs, and the SBA's assistance provided to small business startups in particular (defined as new businesses that meet the SBA's criteria as small), has increased in recent years, primarily because these programs are viewed by many as a means to stimulate economic activity and create jobs. Economists generally do not view job creation as a justification for providing federal assistance to small businesses. They argue that in the long term such assistance will likely reallocate jobs within the economy, not increase them. In their view, jobs arise primarily from the size of the labor force, which depends largely on population, demographics, and factors that affect the choice of home versus market production (e.g., the entry of women in the workforce). However, economic theory does suggest that increased federal spending on small business assistance programs may result in additional jobs in the short term. Congressional interest in assistance to business startups is derived primarily from economic research suggesting that startups play a very important role in job creation. That research suggests that business startups create many new jobs, but have a more limited effect on net job creation over time because fewer than half of all startups remain in business after five years. However, that research also suggests that the influence of small business startups on net job creation varies by firm size. Startups with fewer than 20 employees tend to have a negligible effect on net job creation over time whereas startups with 20-499 employees tend to have a positive employment effect, as do surviving younger businesses of all sizes (in operation for one year to five years). This report examines small business startups' experiences with the SBA's management and technical assistance training programs, focusing on Small Business Development Centers (SBDCs), Women Business Centers (WBCs), and SCORE (formerly the Service Corps of Retired Executives); the SBA's 7(a), 504/CDC, and Microloan lending programs; and the SBA's Small Business Investment Company (SBIC) venture capital program. Although data collected by the SBA concerning these programs' impact on economic activity and job creation are somewhat limited and subject to methodological challenges concerning their validity as reliable performance measures, most small business owners who have participated in these programs report in surveys sponsored by the SBA that the programs were useful. Given the data limitations, however, it is difficult to determine the cost effectiveness of these programs. The report also discusses the SBA's growth accelerators initiative, which targets entrepreneurs looking to "start and scale their business" by helping them access "seed capital, mentors, and networking opportunities for customers and partners," and the recently sunset SBIC early stage debenture program, which focused on providing venture capital to startups. [ABSTRACT FROM AUTHOR]

This came after SEBI received representations from participants in the AIF industry highlighting certain tax-related issues [ABSTRACT FROM AUTHOR]

Croissance has certified that details of securities dematerialized during the Quarter ended 31.03.2024 as required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, have been furnished to BSE where the shares of the Company are listed. The letter received from Venture Capital and Corporate Investments (RTA) confirming the same is enclosed.The above information is a part of company's filings submitted to BSE. [Extracted from the article]

Alternative-seafood producers have formed an organization called Future Ocean Foods to promote the category. The group consists of 36 businesses from 14 countries, including the US, Canada, the UK, and Singapore. Their goal is to promote food security, human health, environmental sustainability, and ocean conservation. The members of Future Ocean Foods are manufacturers who specialize in plant-based, fermentation, and cultivated-food and technology. They have received significant venture capital and are working with large seafood companies to create sustainable food options. The organization aims to expand the alternative protein industry beyond traditional North American diets and move beyond burgers and nuggets. The global seafood industry is projected to surpass $700 billion by 2030, but wild catch and aquaculture cannot meet this demand. The need for sustainable protein sources is becoming increasingly urgent as the global population is expected to reach ten billion by 2050. [Extracted from the article]

Industry News Tech Crunch - Banking Giant Truist Acquires Fintech Startup Long Game in Effort to Reach Younger Demographic - 03/05/22 Truist, one of the nation's largest financial institutions, has [...]

The article presents the top InsurTech ventures in 2017, based on venture capital raised.

The article discusses the state of venture capital in Berlin, Germany nine months post Brexit. It cites the story of insurance company Element which reveals how fast an innovation platform is forming in InsurTech. It notes that traditional Fintech is transforming to become a platform for Emergent Fintech for companies like Element.

The article discusses news stories related to blockchains, Bitcoin, and cryptocurrencies for the week starting May 22, 2017. Topics covered include a traditional venture capital round raised by Blockstack to compete with Ethereum and IPFS, a self-regulatory code of conduct created by a non-profit venture for initial token offerings (ITO), and a sharp rise in Bitcoin price.

In the article, the author presents updates in the blockchain and cryptocurrency market. Among them are the 153 million dollars raised by Bancor during its June 2017 initial coin offering (ICO), the surge of cryptocurrency-focused hedge funds amidst the volatility of Bitcoin, and the support provided by crypto exchange and wallet Coinbase on SegWit transactions on the Bitcoin network.

In the article, the author presents updates in the cryptocurrency (crypto) market. Among them are the launching of D. Tube as a crypto-decentralized video platform that aims to compete against YouTube, the advice by cryptographers to people to abandon the blockchain distributed ledger IOTA due to various security flaws, and the two million dollars raised by secure digital wallet firm Casa.

In the article, the author discusses how investors or venture capital (VC) firms can effectively evaluate a self-funded insurance technology (InsurTech) startup company as part of their due diligence activities. He focuses on the opinion of Atticus DQ Pro co-founder Nick Mair on topics like a bootstrapped startup, the insurance market in Great Britain, and whether insurance carriers should partner with self-funded or VC-funded InsurTech firms.

In the article, the author discusses updates in the financial technology (fintech) sector, particularly the need to organize digital cooperatives following the initial coin offering (ICO) boom of 2017. Also cited are how digital cooperatives are a more sustainable version of capitalism, and how venture capital (VC) is adversely affected by the innovation capital business.

The author examines banks in Switzerland and the model that they could create for financial technology innovation capital. Topics discussed include the topics discussed during the FinteCH Meetup Zurich attended by bankers, technologists and entrepreneurs, ways to deal with raising innovation capital, access to innovation capital in the country, and the problem with the Silicon Valley model.

The author offers insights on the reason why artisanal venture capital (VC) funds will not finance the Blockchain economy. Topics discussed include the difference between artisanal VCs and Internet scale VCs, factors that drive VC returns, forecasts on the evolution of VCs, and the reduction in technical, market, portfolio and macro risk by token sales.

The article provides a checklist of things to do by operators of security token platforms. Topics discussed include forecasts on security tokens, the problem facing entrepreneurs in raising money from legacy venture capital, the option for investors who want equity earlier than initial public offering, and the price discovery and liquidity in private markets for early stage equity.