10.12.22 Daily [Telangana] TSPSC Current Affairs

Co-founders of We Founder Circle (WFC), a startup platform, said they will aggressively invest in 50 startups across Telangana within five years. Speaking to reporters at TiE Global Summit 2022, co-founder of WFC Neeraj Tyagi said they will facilitate funding for at least 10 startups by 2023.

For a lot of startup verticals such as auto service, Web3 and SAAS, Hyderabad has become the launchpad, Tyagi said. The best examples of the success we see for startups in the Hyderabad-Telangana regions are Hesa and CUSMAT.

Interestingly, a majority of 75% of the investors happen to hail from tier-2 and tier-3 cities rather than the metros. WFC has also partnered with local Ecosystems such T-Hub, to boost the platform in democratising early-stage startup investments.

We believe local ecosystems play a significant role in building the startup ecosystem of a region and we plan to create more of such partnerships, Gaurav VK Singhvi, WFC co-founder said. The executives of the company also note that the Average ticket size of these investments would be between $100,000 to $150,000.

In the Independence Day speech on August 15, 2021,thePrime Minister announced the launch of National Hydrogen Mission. The Ministry of New and has accordingly prepared a draft Mission document which inter-alia proposes to support production and deployment of Green Hydrogen.

Green Hydrogen can potentially be used to replace fossil fuels and fossil fuel based feedstocks in a number of sectors inter alia including fertilizer production, petroleum refining, steel production and transport applications.

Aam Aadmi Party(AAP) led by Arvind Kejriwal is all set to become the latest political outfit to get the status of ‘national party’ as the counting of votes is underway in recently concluded Gujarat Assembly . For AAP to get the status of the national party it will require atleast 6% vote share and needs to win atleast two seats.

To earn a national party status, a political party needs to be recognized in at least four states, and to be recognised as a state party, it needs to win at least two seats and 6 per cent of votes polled in the Assembly election. In other words, AAP needs to win just two seats and secure 6 per cent of votes

The Ministry of Road Transport and Highways (MoRTH) will launch India’s first-ever surety Insurance product on December 19 to boost liquidity in the Infrastructure sector.

While surety bonds refer to the performance or delivery obligation to complete the insured project, the corporate bonds refer to financial obligation to repay the debts or loans.

The European Union has given Croatia the green Light to begin using the euro and join theSchengen zone from next year.

The country will join 19 other EU member states that use the currency.

It will adopt the currency from 1 January 2023, making Croatia the latest nation to join the eurozone since Lithuania in 2015.

From next year, it will mean that just seven EU countries still use their own currency.

By adopting the euro, the eastern European nation hopes to gain more financial security and improve the living standards of its citizens.

Croatia will also benefit economically from closer financial links with the single currency areas other members and the European Central Bank.

As Croatia becomes the 20th EU nation to adopt the euro, there are still a number of members that havent taken this step.

In total, seven EU countries dont use the euro: Bulgaria, Czech Republic, Denmark, Hungary,Poland, Romania, and Sweden.