BHOPAL: The Kamal Nath government is rolling out big ticket reforms that could prove a turning point in the mission to energise the industrial sector in Madhya Pradesh. Amid preparations on a war footing for his first investors’ summit, CM Nath has asked bureaucrats to explore the feasibility of implementing the Telangana model of single-window clearance to attract investors. A key feature in the plan is that companies will get all the necessary approvals within 15 days of application, failing which clearance will be “deemed conferred” with self-certification from the enterprises, say sources. The investment summit will be held in Indore between October 19 and October 20. The Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS) — which was launched in 2016 — has catapulted Telangana into a league of states that attract mega projects. Going by official records, nearly 9,000 projects with a total investment of Rs 1.4 lakh … [Read more...] about Quick-clearance model to attract industry to Madhya Pradesh
New economic model
Europe’s top court has set a new line for the policing of illegal speech online. The ruling has implications for how speech is regulated on online platforms — and is likely to feed into wider planned reform of regional rules governing platforms’ liabilities. Per the CJEU decision, platforms such as Facebook can be instructed to hunt for and remove illegal speech worldwide — including speech that’s “equivalent” to content already judged illegal. Although any such takedowns remain within the framework of “relevant international law”. So in practice it does not that mean a court order issued in one EU country will get universally applied in all jurisdictions as there’s no international agreement on what constitutes unlawful speech or even more narrowly defamatory speech. Existing EU rules on the free flow of information on ecommerce platforms — aka the eCommerce Directive — which state that Member States cannot force … [Read more...] about Europe’s top court sets new line on policing illegal speech online
Next to the M56, on the outskirts of Manchester, the future has landed. A cluster of huge distribution centres sits at the heart of Airport City, a new development part-funded by the Beijing Construction Engineering Group (two years ago, it was visited by president Xi Jinping of China). Among the biggest buildings is one of Amazon’s self-styled “fulfilment centres”. Known within the company as MAN1, it opened in September last year, but everything inside, from the chairs to the wall-mounted screens, looks as if it has just come out of a box. Deeper within the centre, beyond the reception area and meeting rooms, there is something else just as new: a great expanse of space behind a metal cage, where dozens of robots, finished in Amazon orange and each emblazoned with its own number, glide across the floor, gracefully avoiding collisions and sprinting to their next task. Amazon employees call them “drives”, but to all intents and purposes these are droids, … [Read more...] about Meet your new cobot: is a machine coming for your job?
Video PlayerClose BRASILIA, Nov. 12 (Xinhua) -- A satellite program co-developed by China and Brazil is hailed by experts as a role model for BRICS cooperation, as strengthening ties in science, technology and innovation among the BRICS countries has become priority for the upcoming 11th BRICS summit to be held here. The China-Brazil Earth Resources Satellite (CBERS) program developed by the China Academy of Space Technology (CAST) and National Institute for Space Research (INPE) of Brazil is bound to inspire more scientific and technological cooperation between China and Brazil and also among the BRICS countries. Carlos Pereira, Brazilian satellite expert and manager of the CBERS program told Xinhua that the cooperation started in 1988, when Brazil and China signed a partnership agreement to develop, build and operate two remote sensing satellites -- CBERS-1 and CBERS-2 -- and since then the program has already developed six satellites. According to Han Bo, a research fellow at CAST … [Read more...] about Experts hail China-Brazil satellite program as model for BRICS sci-tech endeavors
We spend a lot of time talking about new funds, and new startup venture raises, but we spend little time talking about the cash flow challenges of running a venture fund. Let’s change that today. Starting a new venture fund is extremely challenging. In addition to just the monstrous task of fundraising — which can take as long as two years in some cases to lock down all the limited partners (LPs) on the same terms — the economics for a debut fund are often just terrible. Take a sort of starter $20 million seed fund with two general partners using the industry’s oft-quoted (but not really all that common) “2 & 20” compensation model. This hypothetical fund rakes in $400,000 a year in management fees (2% of $20 million) to cover all costs of the fund: office rent, staff costs, legal fees, tax preparation and accounting services in addition to the travel and entertainment costs of trying to woo founders. Whatever remains is split between those two … [Read more...] about How young VCs bootstrap new venture firms