Your Tech Story

investment

Amazon to Boost UK Economy with £8 Billion Investment, Expanding AWS

Amazon to Boost UK Economy with £8 Billion Investment, Expanding AWS

Leave a Comment / News, Tech News / By
Amazon to Boost UK Economy with £8 Billion Investment, Expanding AWS

Image Source: investing.com

The cloud computing division of Amazon, known as Amazon Web Services (AWS), has declared a substantial investment of £8 billion ($10.45 billion) will be made in the UK over the next five years. By doing this, it plans to increase its nationwide data centre operations and strengthen the digital infrastructure of the United Kingdom.

“This £8 billion investment marks the start of the economic revival and shows Britain is a place to do business,” UK finance minister Rachel Reeves said in a statement.

“I am determined to go further so we can deliver on our mandate to create jobs, unlock investment and make every part of Britain better off.

“The hard work to fix the foundations of our economy has only just begun.”

fortune.com

Notable Contribution to the Economy

The investment is anticipated to increase the UK’s GDP by a total of $14 by 2028. It will illustrate the groundbreaking financial effect that AWS is likely to produce. In addition, it will generate about 14,000 full-time equivalent jobs a year in sectors like construction, engineering, and telecommunications.

This statement comes from AWS. It has been steadily expanding around the UK since constructing its first data centre in 2016. Currently, the region is served by two WaveLength Zones, three Availability Zones, and numerous Edge Locations operated by AWS.

“The next few years could be among the most pivotal for the UK’s digital and economic future,” said Tanuja Randery, AWS Vice President and Managing Director, Europe, Middle East & Africa.

She added that AWS’ expansion would help “organisations of all sizes across the country increasingly embrace technologies like cloud computing and AI to help them accelerate innovation, increase productivity, and compete on the global stage”.

fortune.com

Assisting Regional Companies

The UK’s digital economy has been greatly aided by AWS. Reputable UK businesses like easyJet, NatWest, and AstraZeneca rely on AWS’s cloud services. Their focus is to save costs, increase flexibility, and accelerate innovation. Amazon continues to spend in order to help businesses of all sizes leverage cloud computing as well as artificial intelligence (AI) in order to remain competitive.

Also Read: Google Fails to Overturn €2.4 Billion EU Antitrust Fine in Court

AWS has provided £3 billion in investments to support thousands of UK workers every year since 2020. After the publication of this revised data, AWS is expected to invest more than £11 billion between 2020 and 2028.

 
US starts process to restrict some investment in key tech in China

US starts process to restrict some investment in key tech in China

Leave a Comment / News, Tech News / By

The White House has taken a significant step towards safeguarding sensitive technologies by initiating measures to restrict certain U.S. investments in China’s critical tech sectors. 

US starts process to restrict some investment in key tech in China
asiatimes.com

President Joe Biden signed an executive order on Wednesday, directing the U.S. Treasury Department to regulate investments in semiconductors, microelectronics, quantum computing, and artificial intelligence, with a particular focus on countries of concern, initially identifying China, Hong Kong, and Macau. The move aims to protect national security interests while setting the stage for a more controlled investment landscape.

The executive order establishes a framework where notification of investments will be required, and certain prohibitions will be applied to prevent the most acute national security risks. The targeted investments are those that could potentially provide China with military and intelligence advantages. Notably, these regulations will only apply to future investments and will not have retroactive effects.

The technology sectors under scrutiny are semiconductors, microelectronics, quantum computing, and artificial intelligence. These sectors hold immense strategic importance, and the United States has already imposed export restrictions on various technologies that are relevant to these fields. However, by restricting investments, the U.S. aims to prevent its funds from inadvertently aiding China in advancing its own domestic capabilities, which could undermine existing export controls.

While this executive order sets the groundwork for investment restrictions, it is important to note that the implementation process will be meticulous and may extend into 2024, coinciding with the presidential election year. The U.S. Treasury Department will undertake a rulemaking process that will include opportunities for public comment and stakeholder engagement. This thorough approach underscores the importance of these regulations for national security and international technological competition.

The Treasury Department’s proposed regulations target various aspects of technology investment in China. It is considering prohibiting investments in areas such as semiconductor manufacturing equipment, advanced integrated circuits, and certain quantum technologies. Additionally, the department is mulling over notification requirements for investments in less advanced integrated circuits and AI-related software with potential military or intelligence applications.

Also Read: Tokyo Electron’s Sales Dive 17% as Chip Market Malaise Persists

The U.S. has engaged in discussions with allies and partners to ensure that these measures are strategically sound and carefully tailored. Although no coordinated action was taken by allies on the day of the announcement, countries like Britain and the European Union have indicated their intention to implement similar investment restrictions. In fact, the Group of Seven advanced economies previously agreed that outbound investment restrictions should be part of the collective approach.

President Biden’s executive order represents a proactive stance towards protecting national interests and maintaining a competitive edge in crucial tech sectors. By establishing a regulatory framework for technology investments, the U.S. is working to strike a balance between economic engagement and safeguarding sensitive technologies. As the implementation process unfolds over the coming months, industry stakeholders, investors, and experts will closely monitor the developments that shape the future of U.S.-China technology interactions.

Anupam Mittal

Anupam Mittal – The Indian Entrepreneur Behind The Success Of Shaadi.com And Many Other Endeavors.

Leave a Comment / Story, Tech Story / By

Anupam Mittal is one of the most powerful people in India, especially in the startup ecosystem. He is known as the founder of Shaadi.com, Makaan.com, Mauj Mobile, and People Pictures (under the People Group). Apart from being a successful entrepreneur, Mittal is also an investor who has invested in more than 200 companies till now. Currently, he is also a part of the reality show called Shark Tank (a show for aspiring entrepreneurs). Mittal was featured in The Week magazine as one of the top 25 people to watch out for.

Early Life

Born in December 1971, Anupam Mittal hailed from an entrepreneurial background as his father, Gopal Krishna Mittal was a businessman. Mittal went to Boston College, Massachusetts and he studied Operations and Strategic Management for three years. After he graduated, he started working for MicroStrategy in 1998 as a product manager. While he was working for the company he visited India and an encounter with an Indian priest (pandit) gave him the idea to build Shaadi.com.

Mittal had an encounter with a pandit because the latter came with a lot of biodata of women for finding a life partner for Mittal. After having a conversation with the pandit, Mittal realized that finding a life partner in that way of collecting and passing biodata physically limits the choice. So, he wanted to harness the power of the internet to help anyone find a life partner by overcoming geographical and spatial limitations. So, he founded Sagaai.com which was rebranded as Shaadi.com later. He was the CEO of the company until 2015 when he stepped down to explore other areas.

Anupam Mittal
Image source: indianexpress.com

Founding Shaadi.com

Shaadi.com was the breakthrough for Mittal and made him a very famous and successful entrepreneur. It is one of the most used matrimonial sites not only among Indians but also among Asians. Shaadi.com’s core market is India, Pakistan, and Bangladesh but it is available across the world from UAE to the US. Since Mittal made Shaadi.com a global enterprise, he clearly understood how the business growth in India was different from that in the west. According to Mittal, the US population adopted the internet very fast but in India internet became available to normal people only after Jio started offering data plans at a reasonable rate. And as more Indian people started getting access to the internet, the number of users of Shaadi.com also increased. Currently, Shaadi.com has more than 35 million users across the world.

Success Stories

After Shaadi.com became a huge success, Anupam Mittal founded Makaan.com in 2007 to bridge the gap between sellers and buyers. Mittal’s entrepreneurial mindset was based on the potential of the internet and how it digitized every aspect of our life. Makaan.com was built so that buyers can search for real estate properties based on their price range and other factors. In 2015, the business was taken over by Proptiger.com, an online real estate advisor.

Mittal founded Mauj, a global online media company in 2006 and it was incorporated in 2007. The company mainly deals with mobile content and applications including games, wallpapers, matrimonials, etc. Apart from Mittal’s entrepreneurial career, Mittal is also an investor who has invested in several start-ups and other companies (through Shark Tank). Currently, his total worth is $25 million.

Investing

As an angel investor, Mittal has heavily invested in several startups because he appreciates the entrepreneurial mind. The Indian startup culture has massively developed in the last two decades and it is mainly fueled by people who are in their 20s. Some of the startup companies in which Mittal invested are Druva, Sapiens Analytics, Cafe Zoe, Fab Hotels, BigBasket, Ketto, and many more. He also started investing in several other companies after joining Shark Tank India. They are Cocofit, Bamboo India, The Yarn Bazaar, Hair Originals, etc. For his entrepreneurial and investing journey, Mittal was awarded the “Hall of Fame” 2020 awards by The Indus Entrepreneurs.

Shark Tank India

Long-lasting Impact of Shark Tank India on Indian Startup Ecosystem.

Leave a Comment / Story, Tech Story / By

Startups are the current obsession and way to independence for the youth. Starting from startups like Flipkart and PayTM, the Indian startup industry has come a long way. In fact, in terms of startups, India comes third in the list of the number of startups. Today, we can see an MBA graduate happily running a tea stall or some retired lady running their own food delivery business successfully. There is a huge role of the internet in making startups a passion more than a risk for people, but yes, the will of doing something big is what drives people to take that one decision that would change their lives forever.

Though the internet and good marketing have been one of the reliable sources from where we would get to know about new startups, a reality TV show named Shark Tank has just made us even more aware of the Indian startup industry. Shark Tank is a show that includes a bench of judges who are to invest in new business ideas from the budding entrepreneurs based on the potential of those ideas. It is the first season of the show in India, whereas the Shark Tank franchise has already produced thirteen successful seasons of the same show in the US and given opportunities to multiple startups.

About Shark Tank India

Shark Tank India is the Hindi adaptation of the American reality show Shark Tank. The show has gained popularity in India because of its unique concept of startups trying to grab an investment from the panel of ‘Sharks’ (investors/judges). The show was aired first time on TV on 20 December 2021, and the last episode of the first season came on 4 February 2022.

Shark Tank is a show of its kind, as the budding entrepreneurs of every age with their idea of business participate to represent their business idea in front of the selected investors (Sharks) and convince them to invest in the idea based on its potential. These Sharks are the leaders of their fields and looking for businesses that can multiply their investments. The Sharks in the first season included Ashneer Grover (MD and Co-founder of BhartPe), Aman Gupta (Co-founder and Chief Marketing Officer of boAt), Anupam Mittal (Founder and CEO of Shaadi.com and People Group), Ghazal Alagh (Co-founder and Chief Mama of MamaEarth), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Peyush Bansal (Co-founder and CEO of Lenskart), Vineeta Singh, (CEO and co-founder of SUGAR Cosmetics).

Shark Tank India
Image source: moneycontrol.com

Impact of Shark Tank India on Indian Startup Ecosystem

This is the first time that Indian TV has aired a kind of show that is appealing to every age group and has inspired many budding entrepreneurs to look beyond the 9-to-5 jobs. Shark Tank has given a great platform to people who have dreamt about having their own business but were always afraid of taking that leap of faith. The show not only inspired many but also opened gates for financial literacy for people and made them aware of many financial terms like capital investment, angel investors, series A (B, C, D, E) funding, etc., that are only known to business professionals only.

We can clearly see that not long ago, people were against starting up businesses that are different from the usual fields. Most of the times parents would ask their children to opt for engineering or medical, as these professions have always been the most secure ones. Shark Tank as a show has made a powerful impact on the middle-class population of India, which has always been afraid of taking risks and preferred government jobs over any business any day. The show has been a medium to educate the Indian middle-class parents about the existing flourishing startups and the possible opportunities in the said field.

Shark Tank has a great impact on the Indian audience, as the 35-episode series showcased people of age group from teenage to people of retiring age pitching their business ideas in front of the Sharks and bagging investments in lakhs and crores. This is only the first successful season of Shark Tank and many more to come, where we can see unique ideas making their way towards success and people normalizing startups as a career. India is already producing CEOs for big-name companies in the west, now this is the time, India produces its CEO for its own startups and makes big in the world.

Shark Tank can be a medium of filling people with confidence and becoming independent. The main learning from the show can be to find an opportunity in everything rather than waiting for an opportunity. Shark Tank is an educating show that is a must-watch for not only people looking forward to starting a business but also, for people who want to learn about business, startups, finances, investment, and where the world is moving in terms of startups and investments.