India adjusted its startup rules this week, extending the period for deep tech companies to be treated as startups to 20 years and raising the revenue threshold for specific benefits to 3 billion rupees (about $33.12 million), according to TechCrunch. This move aims to align policy timelines with the long development cycles typical of science- and engineering-led businesses. In other tech news, NBA star Giannis Antetokounmpo invested in prediction market Kalshi, while New York lawmakers proposed a moratorium on new data centers. Additionally, Benchmark raised $225 million in special funds to invest in AI chipmaker Cerebras.
The Indian government's change to startup regulations is part of an effort to build a long-horizon development ecosystem, according to TechCrunch. The revised framework, which doubles the startup period and significantly increases the revenue threshold, is designed to support deep tech ventures in sectors like space, semiconductors, and biotech, which often require extended periods to mature.
In the world of sports and finance, Milwaukee Bucks star Giannis Antetokounmpo announced his investment in prediction market Kalshi, becoming the first NBA player to directly invest in the company, according to TechCrunch. "The internet is full of opinions. I decided it was time to make some of my own," Antetokounmpo said in a social media post. However, the announcement sparked controversy on social media, with some users questioning potential conflicts of interest. The NBA's recent collective bargaining agreement allows players to advertise and take stakes of up to 1% in sports betting companies, as long as they are not directly involved in betting.
Meanwhile, New York lawmakers introduced a bill proposing a minimum three-year moratorium on permits for new data centers, TechCrunch reported. This follows growing concerns from both Democrats and Republicans about the impact of data centers on communities, including increased electricity bills. New York is at least the sixth state considering a pause on data center construction.
In the realm of venture capital, Benchmark raised $225 million in special funds to further invest in AI chipmaker Cerebras, according to TechCrunch. Cerebras recently announced it raised $1 billion in fresh capital, reaching a valuation of $23 billion. Benchmark, an early investor in Cerebras, first backed the company in 2016.
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