Indians Stranded in UAE, Dubai and other Gulf Countries to be brought back by aircrafts and by Naval Ships

Here is a good news for the Indians who are stranded in the gulf countries and struggling to meet the expenses amid Covid-19 pandemic. The operation to bring back Indian citizens from Gulf countries will srat on May 7, 2020.

Over 2 Lakh people from UAE alone have already registered to avail this facility.

Government has been receiving distress calls and requests from the workers in Gulf countries. The MHA has decided that the Indian citizens who are asymptomatic will be allowed to return.However there is a condition attached to this. They will be quarantined in a hospital or any other center on payment basis.

The government is offering this facility to stranded Indians on payment basis. The detailed plan is ready with the government.

"The government of India is facilitating the return of Indian nationals stranded abroad on compelling grounds in a phased manner. The travel will be arranged by aircraft and naval ships." - the Union Home Ministry said

The embassies and high commissions of the respective nations have been asked to prepare a list of distressed citizens who are willing to come back to India.

According to ministry of home affairs, all the passengers will be screened before they board the flight or ship, but only asymptomatic passengers will be allowed to travel.

After staying in a quarantine facility for 14 days these people will be allowed to go home if tested negative for Covid-19

Amid Corona Lockdown EdTech Startups offering Free Online Classes

India is under Lockdown to prevent the spread of Covid-19. All Schools and colleges are closed across India. Therefore the worried Parents and Students are looking for online learning platforms. EdTech startups have come up with many free offers are expecting a rise in the number of online learners

Digital Learning while at Home

The rise in Covid-19 cases has disrupted the day to day normal activities of every individual across the globe. Due to lockdown in most of the states, the schools, colleges and all other educational institutions have shut their premises. The movement of students is also restricted and they are exploring various online education platforms. There are many EdTech platforms in India already having a good subscriber’s base. The Edtech Platforms are also coming forward with the offers like free online classes to the students.

The EdTech companies at the same time are also offering free teaching resources to the educators. The higher education institutions are adopting new technologies to offer online education to their students.

The Institutes are using tools like Video Conferencing software, online assessment tools and other e-learning resources during the Covid-19 lockdown period.

EdTech Companies are becoming necessities and are not just Teaching Tools now

The EdTech companies are aggressively promoting their platforms with a lot of offers to lure new students. The institutions are also using their platforms for online classes for their students. There is a surge in the usage and signups of the EdTech companies.

The Byju’s and Vedantu are offering free access to the students on their platform in this Covid-19 shutdown.

“Considering the rigour of the exam season, access to the learning program will further assist and help students continue with their preparation for the year-end examinations,” Byju’s said in a statement

The rival company Toppr was also quick to announce the free offers for its live and video recorded classes.

Offers from Vedantu & Extramarks

Vedantu is giving access to the school teachers of various schools across India to take live classes from their homes. Vedantu has launched free ‘Learn Live Online” programme for X and XII students.
ExtraMarks, yet another popular EdTech company, has offered a “Go to School” campaign for school students and the services will be free till April 30, 2020. The teachers can also use this free service to interact with the students.


The big players like Coursera have also announced free online support to the educational institutions.
“We’re going to make ‘Coursera for Campus’ offering freely available to any college or university in the world that is impacted by coronavirus, in the hope that they can rapidly allow students to start learning and ensure we have minimal impact from coronavirus on the student community,” said Leah Belsky, chief enterprise officer and senior vice-president, Coursera.



The good thing about the EdTech platforms is that even during the lockup, the students can continue with their studies. At the same time the institutes and teachers also have the platforms to take online lectures and classes. The parents will also feel relaxed, when they will see their children hooked to studies instead of TV and games.

India Under Complete Lockdown for 21 days - PM

"From midnight tonight, the entire country will go under a complete lockdown. Every state, every Union Territory, every district, every village and every locality is being put under lockdown,"  – PM

While addressing the nation on March 24, 2020, PM Modi announced that the entire country will go on a complete lockdown from midnight. Modi while quoting the experts emphasized that social distancing is the only way we can fight this mischievous virus which spreads so fast.

Narendra Modi requested all the state governments to focus on the healthcare facilities during this period. Modi also warned the public to be careful about the rumours.

Modi also expressed concern about the poor but assured that the governments have all the plans to cater to their needs.

"We cannot ignore the fact that this unfortunate crisis has brought a lot of complexities to the poor. The central government, state governments, social organisations and civil societies are working to reduce the difficulties of the poor," he said.

Modi assured the citizens that the government will ensure that there is no disruption in the supply of essential goods and services.

List of Exemptions during the Lockdown Period

• The ration shops, and shops dealing with, dairy and milk booths, groceries, food, fruits and vegetables, meat and fish, animal fodder shall remain open.

• Online Ecommerce companies delivering milk, grocery, vegetables, fruits etc will also be exempted

• Hospitals and all related medical establishments, including manufacturing and distributing units, both in public and private sector, such as dispensaries, chemist and medical equipment shops, clinics, ambulance etc will continue to remain functional.

• The transportation for all medical personnel, nurses, para-medical staff, other hospital support services shall be permitted

• Banks, insurance offices, and ATMs shall remain operational.

• Print and electronic media will remain open.

• Telecommunications, internet services, broadcasting and cable services will be operational to ensure smooth work from home as far as possible.

• Delivery of all essential goods including food, pharmaceuticals, medical equipment through E-commerce

• Petrol pumps, LPG, petroleum and gas retail and storage outlets shall remain open

To ensure a continuous supply of electricity, power generation, transmission and distribution units and services will remain operational.

The world economy will go into recession with the likely exception of India and China- UN

An unprecedented damage has already been done by the COVID-19 this year. The entire world is now facing the economic damage caused by the deadly virus.

The consequences of a combined health pandemic and a global recession will be catastrophic for many developing countries and halt their progress towards the Sustainable Development Goals - UN

The United Nation (UN) is calling for a USD 2.5 trillion rescue package for the developing nations out of which

• $1 trillion should be made available through the expanded use of special drawing rights
• $1 trillion of debts owed by developing countries should be cancelled this year
• $500 billion needed to fund a Marshall Plan for health recovery and dispersed as grants

According to the new analysis from United Nations Conference on Trade and Development (UNCTAD), the UN trade and development body titled ‘The COVID-19 Shock to Developing Countries: Towards a ‘whatever it takes’ programme for the two-thirds of the world’s population being left behind’, commodity-rich exporting countries will face a USD 2 trillion to USD 3 trillion drop in investments from overseas in the next two years.


According to the UN report, Even so, the world economy will go into recession this year with a predicted loss of global income in the trillions of dollars. This will spell serious trouble for developing countries, with the likely exception of China and the possible exception of India.

Startups & Medtech Innovators are being encouraged to find Solutions for Covid-19

Covid-19 Innovation Challenges

As the Corona outbreak continues, the government of India is also taking all necessary steps to control the spread of Covid-19. The stringent measures like complete lockdown for 21 days, though has helped to control the spread. However, to ensure that India is prepared well for any future threat, the government is also looking forward to the innovative solutions for Covid-19.

Furthermore, the government is also encouraging, Startups, Entrepreneurs, and companies to come up with innovative solutions, Bioinformatics, datasets, Apps for diagnosis, etc. for strengthening the fight against Corona.

Which companies & Government Institutions are inviting applications?

C-CAMP

C-CAMP is inviting Startups, innovators, and entrepreneurs who can help fight Covid-19 with their innovations.

Cellular and Molecular Platforms (C-CAMP) is a special COVID-19 focused accelerator set up in collaboration with the United Nations Health Innovation Exchange (UNHIE) and Social Alpha. Amid Covid-19 pandemic the C-CAMP is inviting Startups, innovators, and entrepreneurs who can help fight the pandemic. The Special Covid focused accelerator is also called "COVID-19 Innovations Deployment Accelerator" (CIDA)

The Innovations from the players should be under the following categories: diagnostics, vaccines, screening, containment strategies, therapeutics, public health & other relevant technologies.
According to a statement, the C-CAMP has set no specific last date to submit the applications. The received applications are being assessed daily in batches for scientific validity, market readiness, feasibility and impact

Startup India

The department for promotion of industry and internal trade (DPIIT) and Startup India are seeking innovative solutions from startups to fight the Covid-19 crisis. There is a competition for startups, entrepreneurs, and companies to come out with creative solutions to fight Corona virus.

"We are building a one-stop repository of innovative solutions for ready access by the government and the private sector for further development and deployment," Startup India said.

According to Startup India, after analysing the feasibility and quality of the innovations, the top solutions will be identified and recognised. Besides, Startup India will also refer the innovative solutions to the government and private stakeholders for further funding and deployment.

The solutions can be in the areas of low-cost innovative masks which can capture virus from the air and absorb respiratory droplets. The innovators can also come up with cost-effective thermal scanning devices, medical equipments like ventilators and protective gear for healthcare professionals.

You can Apply before April 15, 2020 at the official website link

https://www.startupindia.gov.in/content/sih/en/ams-application/challenge.html?applicationId=5e79126ee4b055bfaea9ef66

Covid-19 Innovation challenge by Telangana Government

T-Hub has announced a Covid-19 Innovation Challenge in partnership with Q City and Telangana government.

The purpose of this innovation challenge is to inspire and motivate students to come up with unique ideas to fight Corona virus. The programme also aims at empowering the student innovators to get mentorship from renowned subject matter experts. The students will also get assistance in transforming their ideas into business propositions from T-Hub and CCMB (The Centre for Cellular & Molecular Biology). 

The call for applications is open until 20th April and you can apply online at the official website

link - https://t-hub.co/covid-19-innovation-challenge/?utm_source=programcard&utm_medium=website

Marico Innovation Foundation invites ideas to combat Corona

Marico Innovation Foundation (MIF) has launched #Innovate2BeatCOVID, a challenge that will offer grants worth 2.5 crores for the innovative ideas. MIF and Marico's chairman Harsh Mariwala is looking for cost-effective ideas for making ventilators, protective equipment, innovative products, and services that can assist in dealing with Covid-19.

You can apply online at the MIF website

https://www.maricoinnovationfoundation.org/i2b-form/

Technology Development Board (TBD) & Department of Science & Technology (DST) inviting Innovative solutions for COVID-19

The DST & TBD also invited proposals on COVID-19 & related respiratory viral infections
The solutions can be in the areas of low-cost innovative masks which can capture virus from the air and absorb respiratory droplets. The innovators can also come up with cost-effective thermal scanning devices, medical equipments like ventilators and protective gears for healthcare professionals.

Other areas of innovation include large area sanitization and sterilization, Bioinformatics and Surveillance, Rapid and Accurate Diagnosis kit (paper-based and other points of care devices) or any other related technology.

Proposals submitted online via TDB website www.tdb.gov.in on or before 27th March 2020.

Conclusion

During any viral pandemic, the protection of the general population is the priority of any government.

The system needs suitable devices for screening and detection, efficient clinical masks and sanitisers, home based ventilator systems to complement healthcare facilities.

Many other products and technologies are also required at the same time to monitor and control the spread of diseases. 


The need of the hour is to have enough medical equipment like ventilators and protective gears for healthcare professionals. Therefore the government is looking for innovators to come up with innovative solutions that are cost-effective as well as of high quality.

I Want 9 Minutes of Yours on 5 April at 9 pm- PM Modi

PM Modi asks the 130 crore Indians to stay united in fighting the COVID-19 pandemic. While addressing the nation on April 3, Narendra Modi asked for 9 Minutes at 9 pm on Sunday, April 5 to end the darkness of COVID-19. PM urged the countrymen to switch off all the lights and light candles or Diyas at their balconies or doorsteps. People can also flash their mobile flashlight or a torch.

“I want 9 minutes of yours on Sunday, 5 April at 9 pm. Kindly Switch off all lights at your homes, stand at balcony or doorstep with a candle, torch or mobile phone's flash light”

PM said that the 1.3 billion Indians are together at this hour of crisis and thanked them for supporting the lockdown. He said that even though we are in our homes, we are not alone.
PM again emphasized and requested the people to never cross the line of social distancing. Let us together defeat Coronavirus and disperse the darkness spread by the pandemic. Let us together give hope to the poor who are the most impacted by the lockdown.

Coronavirus (COVID-19) Update in India

The total number of confirmed COVID-19 cases in India has risen to 45000, and over 1300 people have died so far according to the Ministry of Health and Family Welfare.


Maharashtra has seen the highest number of Corona positive cases, followed by Tamil Nadu.

Amidst COVID-19, SIDBI Announces Relief Measures for Startups

The COVID-19 pandemic has forced the country to go into complete lockdown. As a result, the revenues of the companies, including the Startups have taken a big hit.

Amid Corona crisis, SIDBI is providing financial assistance in the form of quick working capital to startups. A COVID-19 Startup Assistance Scheme (CSAS) has been announced by the Small Industries Development Bank of India (SIDBI). The intent is to help startups during this crisis

CSAS from SIDBI will assist the innovative startups that have demonstrated the ability to adapt to economic impact from COVID-19. The financial institution is also assisting the startups in ensuring its employees' safety and financial stability. According to SIDBI, this is purely an interim arrangement. The purpose of the scheme is to assist startups who are facing a cash crunch due to COVID-19 crisis.

The RBI regulated institution has lined up Rupees 100 crores for working capital loan facility to the startups. The startups can avail loans of up to 2 crores to meet the expenses like rent, vendor payments, and salaries amid the Corona crisis.

The tenor of the loan is up to 36 months, including a maximum moratorium period of 12 months. The repayment of the loan is to be done in max 24 instalments.

The interest rate set by SIDBI is 10.50% p.a. reducing balance and there is a processing charge of 1% of the sanctioned amount

Eligible Beneficiaries for COVID-19 Startup Assistance Scheme (CSAS)

The following are the eligibility criteria:

• Government defined Startups which has received funding through at least one of the Alternate Investment Funds registered with SEBI.

• Startups with a minimum employee base of 50 employees including foot soldiers (Relaxable on case to case basis)

• Startups having minimum turnover between Rs 10 - 60 crore (FY 2019 and FY 2020)

• Startups having positive unit economics incorporated for less than ten years.

• Startups with positive net worth

• Startups which have demonstrated innovative measures for ensuring business continuity during the COVID – 19 period.

• Startups which have taken adequate measures and ensured employee safety and their financial stability

• Promoter / Founder of a startup should have invested his own capital in the business

The below category is not eligible for CSAS

• Any written off Startup by AIFs

• Any Startup which already has a working capital facility with any Bank or a startup which is already in a stress (other than the present COVID-19)

You may access the CSAS scheme documents from the official SIDBI portal. More details are available here.
According to a report by TiE Delhi-NCR and Zinnov released late last year, there are as many as 7,039 startups in Delhi-NCR, followed by 5,234 firms in Bengaluru, 3,829 in Mumbai and 1,940 in Hyderabad.

VCs want Sidbi to ease sops criteria for COVID-19 Startup Assistance Scheme.

Private Equity and Venture Capital Association (IVCA) is not very happy with the eligibility criteria. Therefore IVCA has requested SIDBI to ease the qualifying criteria for its CSAS scheme.

In addition to that, IVCA has proposed that instead of 2 Crores, Sidbi should raise the loan amount to Rs 5 crore and reduce the interest rate on such loans.

IVCA also want SIDBI to remove the criteria that only startups that are unit economics-positive are eligible to apply for CSAS. Further, the loan should have a longer payback duration.

Considering the severe impact that Corona has inflicted on the companies, IVCA has proposed that SIDBI should increase the moratorium up to 18 months, with payment within 48 months of disbursal.
The representative body for risk capital in India is expecting that SIDBI will ease sops criteria for CSAS Scheme.


The representative body intends to accommodate as many startups as possible. Therefore they want a reduced turnover limit, Ebitda criteria dropped as also the employee count.