In the third week of September, venture capital funding for Indian startups saw a sharp decline, as most of the attracted funds were allocated to the very early stages category, which is typically characterized by lower deal values. This marks the seventh instance this year where weekly venture funding dropped below the $100 million mark, demonstrating the difficulties the Indian startup ecosystem faces in attracting large investments.
Global news reports that Australia's restrictions on social media have received approval from Tim Cook. Prime Minister Anthony Albanese stated after meeting with Cook at the company's headquarters in the US that the Apple executive chairman called Australia's efforts 'world-leading.' These government measures include proposing to give users the option to choose the content they see in their feeds. In December of last year, Australia became the first country to ban social media for children under 16.
In highlighting technological progress, Electronics and Information Technology Minister Ashwini Vaishnaw emphasized that India must develop and manufacture chips for everyday devices such as cars, power systems, televisions, and refrigerators within the next five years.
In the deep tech sector, San Jose-based company Ottonomy is developing robots for logistics in real-world conditions. Ottonomy has a manufacturing facility in Noida and has already implemented its products in North America, Europe, the Middle East, and India.
Furthermore, among global events, the high-level United Nations General Assembly week is taking place this week, with an agenda covering international conflicts, climate change, pandemic preparedness, sea-level rise, combating racism, and promoting Sustainable Development Goals.
