Tag: Startup India

TechPulse

10 Years of PhonePe: A Decade of Building for Bharat

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

PhonePe recently marked a significant milestone, completing ten years in India’s fintech ecosystem and celebrating a decade of innovation, growth and impact. Since its inception, the company has played a pivotal role in transforming the way India transacts and manages money, steadily expanding financial access across urban and rural Bharat alike.

In 2025, PhonePe crossed a major milestone by surpassing 600 million registered users, reinforcing its position as a cornerstone of India’s digital economy. The year focused strongly on deepening trust and improving accessibility with the introduction of features such as UPI Circle, which enables delegated payments for trusted contacts, and PhonePe Protect, a robust security framework designed to safeguard users against fraudulent transactions.

Strengthening its support for merchants, PhonePe introduced Made-in-India solutions like the SmartSpeaker and SmartPOD, helping small and medium businesses embrace digital payments with ease. Through the Udyam Assist initiative, launched in partnership with SIDBI, PhonePe became one of the first institutions to enable digital-first integration for MSMEs, streamlining their access to formal credit and financial services.

For consumers, the platform expanded beyond payments by launching affordable protection products such as Home Insurance and Health Insurance, aimed at India’s “Missing Middle.” PhonePe also unlocked liquidity through innovative lending solutions, including Loan Against Mutual Funds, ensuring essential financial services are accessible to a wider population.

Reflecting on the journey, Sameer Nigam, Founder and CEO of PhonePe, said that despite how far the company has come, the most exciting part is that the summit is still not in sight. He highlighted the passion of the teams behind PhonePe and noted that the journey continues to be meaningful and energising as the company builds for the future.

Rahul Chari, Founder and CTO, expressed pride in what PhonePe has built over the past decade, acknowledging the goodwill and support received from the industry and the wider ecosystem. He emphasised that building something people truly believe in is what turns an idea into real impact.

Over the years, PhonePe has consistently redefined the Indian fintech landscape through industry-first innovations. From Digital Gold and Mutual Funds to making Insurance and Stock Broking accessible to the masses, the platform has evolved into a comprehensive financial ecosystem. Key milestones include the PhonePe Business app for merchants, Merchant Lending, Credit Line on UPI, Cross-Border UPI, UPI Lite, and the 2024 launch of the Indus Appstore, Share.Market and secured lending platforms.

By relocating its domicile to India in 2022 and steadily expanding into credit and wealth management, PhonePe has moved beyond being a payments utility to becoming an integral part of India’s financial fabric, ensuring that access to protection, investment and credit continues to reach every citizen as it builds for Bharat.

TechPulse

Goa Strengthens Startup Ecosystem with 10th Empowered Committee Meet Under Startup Policy 2025

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Department of Information Technology, Electronics and Communication (DITE&C), Government of Goa, convened the 10th Empowered Committee Meeting at the Conference Hall, Mantralaya, Porvorim, to review and evaluate applications under the Seed Capital Grant Scheme of the Goa Startup Policy 2025. The meeting marked another significant step in the state’s ongoing efforts to strengthen its startup ecosystem and promote innovation-driven entrepreneurship.

The committee was chaired by Dr. Pramod Sawant, Hon’ble Chief Minister of Goa, and co-chaired by Shri Rohan Khaunte, Hon’ble Minister for IT, Electronics and Communications. Senior government officials and industry leaders were present, including representatives from the Department of Industries, Directorate of Education, ITG, GCCI, Goa Technology Association and leading technology firms, ensuring a comprehensive evaluation process backed by policy, industry and academic perspectives.

The Seed Capital Grant Scheme, a flagship initiative under the Goa Startup Policy 2025, provides one-time financial assistance of up to ₹10 lakh to startups that have developed a Minimum Viable Product. A total of 27 applications were received by the Startup and IT Promotion Cell, which were scrutinised by an Expert Committee before being placed before the Empowered Committee. After detailed discussions and evaluations based on innovation, feasibility, scalability, revenue potential and long-term sustainability, 16 startups were shortlisted, of which eight were selected for funding.

The selected startups represent a wide spectrum of emerging sectors, including artificial intelligence, healthcare, construction technology, tourism discovery, digital accessibility, micro-task platforms and regional OTT content. Each of these ventures showcased solutions developed in Goa, reflecting the state’s growing capability to nurture homegrown innovation with national and global potential.

Speaking on the occasion, Shri Rohan Khaunte highlighted that the quality of ideas presented reaffirmed Goa’s position as an emerging startup destination in India. He emphasised that early-stage financial support through the Seed Capital Grant Scheme plays a crucial role in helping founders transition from ideas to scalable enterprises, while also reinforcing the government’s commitment to building a long-term innovation-friendly environment in the state.

In addition to startup funding, the meeting also focused on encouraging innovation at the academic level. Cheques of ₹50,000 each were presented to 10 student projects under the newly launched Campus Innovation Scheme. Five engineering colleges across Goa received funding for projects spanning advanced biomedical research, artificial intelligence applications, agriculture technology, drone-based security systems, assistive wearable devices and sustainable manufacturing solutions.

The growing participation in these schemes reflects Goa’s increasing appeal as a startup and innovation hub. Through initiatives like the Seed Capital Grant Scheme and Campus Innovation Scheme, the Government of Goa continues to invest in ideas, talent and technology, creating an enabling ecosystem where startups and young innovators can build, scale and succeed from Goa.

Finance

HDFC Bank Group Concludes HDFC Tech Innovators 2025, Honours 10 Winning Startups

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

HDFC Bank Group successfully concluded the fourth edition of HDFC Tech Innovators 2025, marking another milestone in its commitment to strengthening India’s startup ecosystem. The event honoured ten winning startups across six sectors and awarded two special recognitions to emerging women founders. This year’s edition saw remarkable national participation, with over 1,600 startups applying from more than 290 cities across the country, reflecting the rapid growth and expanding reach of India’s innovation landscape.

HDFC Tech Innovators 2025 was organised jointly by HDFC Bank, HDFC Capital and HDFC AMC, with active support from HDFC Life, HDFC Ergo, HDFC Securities and HDB Financial Services. The initiative was conceived as a platform to recognise early-stage startups and enable meaningful collaboration between founders and HDFC Group companies. In previous editions, the programme has helped identify high-potential ventures such as QNu Labs, a pioneer in quantum-safe cybersecurity, in which HDFC Bank subsequently invested. The Group also supports young ventures through Parivartan, its CSR arm, by partnering with leading incubators across India.

Speaking at the event, Ashish Parthasarthy, Group Head of Branch Banking, Payments, Treasury, Liability Products, Marketing, Virtual Channels and Infrastructure at HDFC Bank, highlighted the Group’s ongoing commitment to fostering India’s next generation of corporations. He emphasised that the bank’s StartUp BuildUp programme offers one-of-a-kind solutions, from customised current accounts to health cover, commercial cards and regulatory support for FDI and ODI transactions, designed to empower startups from the very beginning of their journey.

Navneet Munot, MD & CEO of HDFC AMC, noted that innovation continues to reshape every aspect of human progress — spanning finance, healthcare, deep tech, space technology and frontier sciences. He reiterated that HDFC Bank Group sees itself as a long-term partner in India’s innovation journey. At HDFC AMC, the mission remains to channel the country’s entrepreneurial energy into wealth creation for millions of Indians. He described HDFC Tech Innovators as a celebration of the visionaries shaping the future.

Vipul Roongta, CEO of HDFC Capital, underscored how technology and innovation are transforming the built world and redefining every step of the value chain. He reaffirmed the company’s commitment to future-ready business models and emerging technology-led solutions that support India’s transformation in the years ahead.

This year, the initiative broadened its horizons by including Defence and Space Tech as a new sector, recognising the crucial role these domains play in nation-building. Two special awards were also introduced for women entrepreneurs, acknowledging their rising presence and impact within the country’s startup ecosystem.

The event also featured a panel discussion titled “Architects of India’s Startup Ecosystem,” which brought together leading voices from across government, industry and venture capital. Among the speakers were Sanjiv, Joint Secretary at DPIIT; Air Vice Marshal Dhananjay V. Khot (Retd.), Director–Strategy and Planning at IN-SPACe; Shashank Kumar, Founder and Managing Director of Razorpay; Gautam Mago, General Partner at A91 Partners; Vikram Gupta, Founder and Managing Partner of IvyCap Ventures; and Sunali Rohra, Senior Executive Vice President at HDFC Bank. Their perspectives added depth to the conversation on India’s evolving innovation landscape.

With its continued commitment to collaboration, investment and knowledge-sharing, the HDFC Bank Group reinforces its role as a key enabler for startups building India’s future. HDFC Tech Innovators 2025 stands as a testament to this vision, celebrating innovation, encouraging entrepreneurship and empowering the leaders of tomorrow.

TechPulse

Goa Launches Startup Policy 2025 to Boost Innovation, Jobs, and Entrepreneurship

Tanisha Cardozo

Goa is rapidly evolving into one of India’s most dynamic startup ecosystems, and the launch of the Goa Startup Policy 2025 marks a significant leap forward in that journey. Introduced by the Department of Information Technology, Electronics and Communications (DITE&C), this forward-thinking policy aims to foster innovation, generate employment, attract investment, and promote entrepreneurship across the state.

Goa already boasts 696 DPIIT-recognised startups — one of the highest per capita in the country — and the new policy sets even more ambitious goals. By 2028, Goa aims to establish 1,000 startups, create 10,000 jobs for Goans, help 100 startups secure venture funding, and enable partnerships between 50 startups and government departments.

The policy is spearheaded by Shri Rohan Khaunte, Hon’ble Minister for ITE&C, who is actively working to create an innovation-first culture across sectors. It takes a holistic approach — offering support not just to founders, but also to students, educational institutions, women entrepreneurs, and incubators.

The Campus Innovation Scheme is a standout initiative under the policy, offering grants to student innovators for entrepreneurial and research-based projects. These grants will cover costs related to prototype development, encouraging students to become job creators, not just job seekers.

To build a future-ready workforce, the Skill Enhancement Scheme reimburses startups for AI and tech-related upskilling. Additionally, the government will collaborate with private entities to establish IT labs, Maker Labs, and Innovation Centres in educational campuses and industrial parks.

The policy places a strong focus on inclusivity and diversity in entrepreneurship. Women-led startups working on innovative ideas will be eligible for monthly allowances, mentorship, and funding support through a dedicated program. Another initiative — the Promotion and Marketing Assistance Scheme — will provide financial support to startups attending government-endorsed exhibitions and trade shows, enabling better visibility and networking opportunities.

Crucially, the policy fosters an ecosystem approach. It encourages partnerships with accelerators, investors, educational institutions, corporates, government bodies, and market platforms, creating a collaborative network that supports startups through every stage of growth.

By prioritizing innovation, collaboration, and skill development, the Goa Startup Policy 2025 is building the foundation for a globally competitive, future-facing economy. Goa is not just aspiring to be a startup hub — it is setting itself up to become India’s Creative Capital, where technology meets talent, and ideas become impact.

EduConnect

From a Goan Garage to a National Award: How Bodhami is Redefining Career Guidance in India

Tanisha Cardozo

Panaji, Goa – July 2025

In a landmark achievement for Goa’s entrepreneurial ecosystem, Bodhami, an AI-powered career guidance and skilling platform, has been selected among India’s Top 30 Startups by Startup India – DPIIT, from a pool of over 200,000 startups, and awarded the National Startup Award for Rural Impact in the Access to Open Education category.

This makes Bodhami the first and only Goan startup to receive such a distinction at the national level.

🚀 Humble Roots, Bold Vision

Founded in 2018 in a small garage by Damodar Pai Patnekar, an ex-Wipro digital leader, along with IIT–IIM alumnus Ashutosh Sankar and tech architect Aarthy Vasan, Bodhami set out with a mission: to make career guidance and employability accessible, personalised, and affordable—especially for rural and underserved populations.

Damodar’s personal “trigger point” came after 15 years in corporate leadership roles when he realised that over 70% of working professionals were unhappy, and more than 55% of fresh graduates were unemployable. The problem, he believed, began with a lack of career awareness at the right time—typically classes 10 and 12.

“We asked ourselves: What if students could receive truly personalised guidance early on? What if AI could map their strengths to careers, and then help them upskill accordingly?” says Damodar.

🧠 Technology with a Purpose

Bodhami’s platform uses AI and real-world professional data to generate career paths, skill gap assessments, and learning recommendations tailored to individual users. Unlike generic counselling, Bodhami focuses on contextual, data-backed insights.

From career discovery and scholarships to corporate preparedness and job placement, Bodhami addresses the full spectrum of career building.

🌎 National & Global Impact

With its HQ in Goa and operations in over 350 Indian cities and 9 countries, Bodhami has:

  • Empowered 100,000+ students and professionals
  • Conducted 300–400 sessions yearly across India
  • Trained 700+ teachers on career counselling using its AI tool
  • Conducted state-wide career programs across 250+ schools in Goa
  • Delivered over 3,000 scholarships to underprivileged youth

It also partnered with Goa State Innovation Council (GSInC) to launch Innovation Test, a first-of-its-kind initiative in the state.

🏆 Awards & Recognition

Bodhami’s recognitions include:

  • National Startup Award – Rural Impact (Open Education)
  • SKOCH Award for rural development
  • Tally MSME Champions of Change
  • IT Educator Award – Govt. of Goa
  • Selected for India–Sweden Innovation Day, VivaTech Paris, SCO Startup Showcase, and INFINITY – Indo-French startup exchange

Recognised by Asia Pacific Career Development Association (APCDA) and IAAP

🧑‍🤝‍🧑 Powered by People

Bodhami is built by a lean core team of 10 professionals working remotely, and supported by:

  • 5,000+ certified counsellors
  • 200+ franchise partners
  • 100+ global affiliates

Together, this ecosystem ensures that career guidance reaches even the remotest students in India.

🌱 A Message for Future Entrepreneurs

“If someone from a remote Goan village can build a national award-winning platform, then anyone with commitment and passion can do it,” Damodar shares.
“Entrepreneurship teaches what textbooks can’t—resilience, empathy, and purpose.”

Bodhami’s journey is more than a startup story—it’s a movement for a better future, where every student has the guidance and tools to build a career they love.

📍 Headquartered in Goa
🏆 India’s Top 30 Startups – Startup India
🌍 Reach: 350+ cities | 9 countries
🎯 Mission: Empower 10 million lives in 5 years