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    Startup Digest: Top startup stories of the day

    Startup Digest: Top startup stories of the day

    Startup Digest: Top startup stories of the day
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    By Palak Agarwal   IST (Published)


    So today, in this wrap, we put together the key announcements at the Reliance annual general meeting that will impact the startup space.

    Reliance Industries Ltd (RIL) chairman Mukesh Ambani during the 43rd annual general meeting said, "No better partner for Indian startups than Jio and they are ready to help startups them reach their full potential and will play a leading role in India’s growth into a digital society."
    So today, in this wrap, we put together the key announcements at the Reliance annual general meeting that will impact the startup space:
    1. Google invest $4.5 billion in Jio Platforms
    Google invest $4.5 billion (Rs 33,737 crore) in Jio Platforms Ltd, taking a 7.73 percent stake in the company, pending regulatory review in India. This is the first investment from the Google For India Digitization Fund announced earlier this week, which aims to accelerate India’s digital economy over the next five to seven years through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
    Google and Jio Platforms have entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store. Together we are excited to rethink, from the ground up, how millions of users in India can become owners of smartphones. This effort will unlock new opportunities, further power the vibrant ecosystem of applications and push innovation to drive growth for the new Indian economy.
    2. Jio Meet crosses over 5 million users since the launch
    The recently-launched JioMeet, a high definition video conferencing application, was built in 2 months and already crossed over 5 million users since the launch, said Reliance Industries Chairman Mukesh Ambani.
    Speaking at its annual general meeting (AGM) on Wednesday, Ambani said that JioMeet is India's first cloud-based video-conferencing application. Within just two weeks of launch, over 5 million users have downloaded the app, Ambani said. JioMeet supports scheduling meetings and screen sharing among other features. It is free to use.
    3. Reliance launches Jio Glass, to provide mixed reality services
    Reliance Jio has launched its latest innovation, Jio Glass, a new mixed reality headset, which will enable holographic video calling. Jio Glass is at the cutting edge of technology that provides best-in-class Mixed Reality services to give users a truly meaningful immersive experience, Mukesh Ambani announced at the AGM.
    The glass weighs only 75 grams and will offer best in class, immersive mixed reality services. It remains connected by a single-cable and already has 25 apps that allow augmented reality video meetings and more. The technology gives 3D virtual chats rooms and can conduct holographic meetings through Jio Mixed Reality cloud in real-time
    4. Mukesh Ambani launches JioTV+ with integrated content from 12 OTT platforms
    The company announced the launch of JioTV+ today. Jio TV+ will curate OTT platforms such as Netflix, Amazon Prime, Disney+ Hotstar, Voot, SonyLiv, Zee5, JioCinema, JioSaavn, YouTube, among others, into one app. It will be voice-search enabled.
    5. Jio has developed made-in-India 5G platform, says Mukesh Ambani
    Reliance Jio has developed made-in-India 5G platform, said Mukesh Ambani. The new platform developed from scratch will enable Jio to launch a world-class 5G service in India, Ambani said while addressing the first-ever virtual annual general meeting of Reliance Industries. Once the platform has achieved scale, Jio will start offering the 5G network infrastructure services to telecom services.
    6. JioMart and Facebook-owned WhatsApp together will create new opportunities
    JioMart and Facebook-owned WhatsApp will together create new opportunities, Reliance Industries chairman Mukesh Ambani said Wednesday during the conglomerate’s 43rd annual general meeting. JioMart has led to over 2.5 lac orders/day since launch.
    Ambani also added that JioMart will expand to electronics, fashion, pharmaceutical and healthcare and cover more cities, serve more customers. Ambani apprised that Reliance has piloted kirana transformation in some stores as part of its plan to pivot JioMart as a hyperlocal delivery platform that leverages the unique reach and ubiquitous presence of kirana stores in Indian localities.
    7. The startup ecosystem cheers for Reliance Industries after it makes several announcement
    Announcements made by Reliance chairman Mukesh Ambani at the 43rd Annual General Meeting has been lauded by the startup ecosystem:
    Kunal Bahl, co-founder of Snapdeal, an ecommerce platform tweeted -
    #Reliance AGM is becoming the Indian equivalent of Apple's WWDC Good positive sign that the broader ecosystem feels a healthy anticipation around new industry developments.
    On the other hand, Vijay Shekhar Sharma of One97 Communications took on twitter and said: Wow ! 100% home grown 5G solution by JIO
    TVMohandasPai, Chairman of Aarin Capital called the announcements a 'brilliant conceptual framework" by Mukesh Ambani.
    While Padmaja Ruparel of Indian Angel Network said with this move we will see convergence of sectors. She thinks that this is "a brilliant opportunity for startups to re-think, re-innovate".
    Sanjay Nath of Blume Ventures summed up saying that "other large corporates will realize the digital potential of India and join the bandwagon."
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