Category Archives: Business

12 million euros for cutting-edge research: Covestro to fund CAT Catalytic Centre until 2031

19th September 2024: The Catalysis Research Centre (CAT Catalytic Center Aachen) of Covestro and RWTH Aachen University is continuing its pioneering research into sustainable and recyclable materials. Until 2031, publicly funded research projects are to be continued and initiated, helping to strengthen Europe’s industry in the global competition for innovation leadership in the chemical sector. Covestro is contributing over €12 million to the research centre.

Founded in Aachen in 2007, the CAT Catalytic Centre has extensive expertise in the fields of catalysis, reaction technology, polymer chemistry and chemical recycling. All research projects are focused on contributing to climate targets and lead to a reduction of Scope 3 emissions along the value chain. The development of innovative polymers with a lower carbon footprint, recycling solutions for Covestro materials, and the use of alternative raw materials such as biomass further benefit climate action. An example is the EU-funded Circular Foam research project, where Covestro and RWTH Aachen University cooperated with the CAT Catalytic Centre and 22 other partners to close the material cycle for rigid polyurethane (PU) foams.

As an example of a successful partnership between industry and academia, the CAT Catalytic Centre contributes to a comprehensive EU strategy to promote the circular economy and the development of sustainable materials, such as bio-based plastics, recyclable composites and greener chemicals. In its latest Science, Research, and Innovation Performance1 (SRIP, June 2024) report, the European Commission once again emphasised the essential role of these areas in the European industrial agenda. Corresponding investments and the transfer of research results into marketable innovations by companies play a decisive role in this regard.

“Industry and the chemical sector in particular are increasingly being called upon to develop alternative sources of raw materials and reduce the use of fossil fuels. Together with RWTH Aachen University, we are continuing to lead the way as pioneers in this area, even in an economically challenging environment,” says Covestro CEO Markus Steilemann. “Long-standing partnerships like our cooperation with RWTH Aachen University help to conserve resources and realise the circular

Reducing CO2: Bio-based aniline developed from sustainable sources

Several projects involving the CAT Catalytic Centre have already taken major steps towards market maturity. One example is bio-based aniline, which can be produced entirely from sustainable sources instead of crude oil using an innovative process. The world’s first pilot plant for bio-based aniline was inaugurated in Leverkusen at the beginning of the year. The raw material is used in the plastics industry, in particular for the production of MDI for rigid polyurethane foam. The use of bio-based aniline can help to promote the circular economy in the future and to reduce the CO2 footprint in buildings through energy-efficient insulating foam.

“A technology transfer between research and industry is a decisive factor for progress in catalysis and an important step in chemical process development towards sustainable chemistry. The collaboration with Covestro enables us to further intensify our expertise in the fundamental field of catalysis,” says Prof. Dr Ulrich Rüdiger, Rector of RWTH Aachen University.

At the joint research centre in Aachen, headed by Professor Jürgen Klankermayer from the Chair of Translational Molecular Catalysis, scientists work after completing their doctorates. Projects benefit from the latest innovations of scientific research coupled with findings from industry and modern laboratories with an adjoining technical centre on the university campus.

Curriculum Associates Expands Capacity with a New Office in Bengaluru

Bengaluru, India, September 19, 2024

Curriculum Associates, an edtech company headquartered in North Billerica, Massachusetts (MA), today announced the opening of its first Global Capability Center (GCC) in India, with the new office in Bengaluru. The grand opening and ribbon-cutting ceremony was led by Rob Waldron, CEO of Curriculum Associates along with Rajeev Kapoor, Vice President, Curriculum Associates – India.

Curriculum Associates develops both print and digital assessments, diagnostic and instructional materials that serve more than 13 million students in the United States. Over the past 55 years, Curriculum Associates has grown from its beginnings in North Billerica, MA, to a global presence with five offices across the United States, one in Dublin, Ireland, and now, Bengaluru. With a dedicated team of more than 2,500 employees spanning various cultures and continents, the company remains committed to enriching a culture of innovation and service.

“Curriculum Associates has always prioritized hiring the best talent to ensure our ability to serve teachers and students,” said Rob Waldron, CEO of Curriculum Associates. “Opening this office is a pivotal moment in our growth journey. This expansion is part of our commitment to hire top talent worldwide and help us achieve our mission of making classrooms better places.”

Wondrlab Announces Sixth Acquisition with OPA

Mumbai, September 19, 2024: Wondrlab, the platform-first martech network, proudly welcomes OPA, one of India’s largest influencer marketing platforms, into its family. This marks Wondrlab’s second strategic acquisition in the influencer marketing space and its sixth overall. The move reinforces the Network’s commitment to enhancing its platform offerings while expanding its footprint in the fast-evolving creator economy.

OPA, one of India’s largest influencer marketing platforms, collaborates with over 300,000 influencers and 500+ brands including Nykaa, Vero Moda, Purplle, Sugar, Plum, etc. OPA does 40,000 collaborations a month powered by an advanced tech stack and seamless user interface that simplifies the traditionally complex process, ensuring effortless collaboration and building trust with influencers for large-scale campaign success.

With the combined strength of OPA and Opportune, Wondrlab solidifies its position as a key player in the influencer marketing space and becomes one of the largest and most comprehensive offerings in India.

Saurabh Varma, Founder & CEO of Wondrlab Network, commenting on the acquisition said, “We are super excited to welcome OPA to the Wondrlab family. With Rupansh and Chandan, we hope to supercharge our influencer offering. We remain extremely bullish about the creator economy and believe that mid-funnel and driving engagement will be critical for every brand.”

Rupansh Goyal, Co-Founder of OPA, expressed his excitement, stating, “Wondrlab is a team of heavy hitters in the marketing landscape. We are incredibly excited to join forces with them. Their unparalleled expertise in scaling businesses and our technology create an ideal partnership. We’re confident that we’ll unlock new opportunities for brands and influencers, driving even more impactful collaborations. This collaboration truly feels like a perfect match, and we’re eager to see where it will take us.”

Chandan Routray, Co-Founder of OPA, added, “OPA has only just scratched the surface of the creator economy with branded collaborations. There is a vast opportunity to help brands leverage creators’ influence. With Wondrlab’s 360-degree marketing expertise and deep industry knowledge, we are excited to begin this new chapter. Together, we can bring innovative solutions that benefit brands and empower creators.”

Saurabh further added, “At Wondrlab, we have always believed in backing extraordinary founders and helping them scale their dreams. Rupansh and Chandan, both IITians, as Co-Founders of OPA have created a remarkable platform. I truly believe that we are at an inflection point in the creator economy space and with the two of them at the helm, I am confident in Wondrlab having the best shot in finding, creating and executing the next moonshot.”

Led by ‘FWD’ – Myntra Doubles Gen Z Customer Base to 16 Million; Targets 40 Million in the next couple of years

Bengaluru, 17 September 2024: Myntra is making bold moves to capture the burgeoning trend first GenZ fashion market with its dedicated app-in-app, FWD. In just over a year, led by FWD, Myntra has nearly doubled its GenZ customer base, growing from over 8 million in mid-2023 to an impressive 16 million in 2024, emerging as the go-to destination for GenZ fashion. The company plans to add another 20-25mn GenZ customers in the next couple of years.

The GenZ cohort today represents one-third of India’s e-lifestyle shoppers and influences 25% of the overall GMV in e-lifestyle fashion*. With the online trend-first fashion market expected to grow over 8X into a $5 billion market by 2028*, FWD by Myntra is seizing the moment and taking charge in reshaping fashion for young India, reflecting Myntra’s commitment to staying ahead of GenZ’s rapidly evolving trends and preferences.

Speaking on the milestone, Sunder Balasubramanian, Chief Marketing Officer, Myntra, said, “Myntra has been at the forefront of redefining fashion possibilities and offering customers what they most seek to express themselves through fashion. And we are now embracing the undeniable influence of GenZ on the fashion industry by reimagining our fashion shopping experience to align with their values and expectations. Led by FWD, we aim to master the essentials of trend, tailor-made shopping experience and value. We plan to double our customer growth and penetrate deeper into the market, by leveraging cutting-edge technology to enhance every touchpoint from selection to discovery to delivery.”

Further strengthening its appeal, FWD by Myntra showcases on-trend, thought-through selections to personalized size and fit recommendations, every detail is crafted for a wholesome experience. Post-purchase, features like Style Exchange, hassle-free returns, and responsive customer support has made FWD by Myntra a go-to GenZ destination in India’s e-lifestyle market.

Strategically positioned to meet the dynamic, trend-conscious preferences of GenZ, FWD by Myntra offers an extensive range of trend-first styles at pocket-friendly prices. With over 75,000 on-trend styles and 2,500 new drops weekly, it has established itself as a key player in the GenZ fashion scene. FWD’s average selling price of ₹500-650 further enhances its appeal to the GenZ shoppers.

Additionally, tech advancements are at the core of FWD’s strategy, with features like Spot it- Get it, MyFashionGPT, and Myntra Minis (Myntra’s short video platform) contributing to enhancing the shopping experience. Nearly 25k micro and nano influencers with whom the cohort resonates are also on board. Recognizing GenZ’s preference for mobile web browsing over downloading new apps, the company has also rolled out its Mweb platform for FWD, providing a seamless and complementary alternative to the mobile app.

Among the new initiates to propel further in the GenZ space, Myntra has launched The Ultimate Glam Clan- India’s largest shopper-led creator program in the e-lifestyle space. This program focuses on creating an engaging experience that celebrates GenZ’s creative spirit, enabling customers at large to step into the role of creators, earning rewards while expressing their love for fashion.

With a clear focus on trends, elevated shopping experience and value for customers, Myntra is focused on engaging the 60 million GenZ e-lifestyle shoppers further, with strategies designed to double its penetration in this segment in the next couple of years. With a strategic emphasis on both metro and tier-2 cities and leveraging its deep market understanding and established credibility, FWD is poised to become a dominant force in the GenZ fashion space.

Ecole Ducasse Announces the Appointment of Karine Hyon-Vintrou as Managing Director

École Ducasse announces the appointment of Karine Hyon-Vintrou as Managing Director. Karine Hyon-Vintrou succeeds Elise Masurel, who spent five years at the helm of Ecole Ducasse, during which time she significantly accelerated the institution’s growth.

Karine Hyon-Vintrou began her career in the luxury hotel industry, joining Four Seasons Hotels & Resorts in the USA, then in France. These experiences enabled her to build up solid expertise in this sector before joining the global headquarters of InterContinental Hotels Group (IHG) in the UK. It was here that she discovered her passion for branding, a field that would soon become the core of her career. Karine continued her career in Bangkok to manage the Onyx Hospitality Group’s brand platform, before returning to IHG to join the global resorts strategy team. This international experience reinforced her strategic vision and ability to manage large-scale projects in a multicultural context. On her return to the UK, she was appointed Global Brand Director for InterContinental Hotels & Resorts.

In 2018, Karine joined Sommet Education to reposition the Glion and Les Roches brands, strengthening their reputation in hotel management education. She implemented innovative strategies and led a high-performance team. In March 2023, she was promoted to Chief Marketing Officer (CMO) of the group, overseeing all marketing activities and contributing to its international expansion.

Today, Karine is taking over the management of École Ducasse at a time of rapid international expansion. Particularly motivated by the institution’s potential for global deployment, she aims to consolidate École Ducasse’s position as a world leader in gastronomy and culinary education. “École Ducasse is an iconic brand recognized for the excellence of its training and the influence of its graduates on the global culinary scene. I look forward to accompanying this institution in its international expansion, and to drawing daily inspiration from passionate teams, talented students and renowned experts”, she said.

Karine Hyon-Vintrou succeeds Elise Masurel after five years at the head of Ecole Ducasse. Under her leadership, École Ducasse has undergone major development, marked in particular by the launch of the new Meudon campus, the expansion of the École Nationale Supérieure de Pâtisserie (ENSP), the largest pastry campus in the world, and international expansion with the opening of 3 new schools in India, Thailand and the United Arab Emirates. These achievements testify to the leadership and strategic vision that have enabled École Ducasse to strengthen its global position.

On this occasion, Alain Ducasse said: “I commend the tremendous commitment of Elise Masurel, who has given Ecole Ducasse a remarkable dynamism both in France and worldwide. I welcome Karine Hyon-Vintrou. Her extensive experience of the hospitality sector on an international scale is a major asset in strengthening Ecole Ducasse’s strategic position.”

Benoît-Etienne Domenget, CEO of Sommet Education said: “I sincerely thank Elise for her contribution, particularly with the opening of Paris Campus, and I am delighted with Karine’s appointment, who will be able to put her extensive experience of education, marketing and luxury at the service of École Ducasse.”

Piramal Finance Partners with CSCs to Boost Credit Access for Budget Customers

New Delhi, September 16, 2024: Piramal Capital & Housing Finance Ltd. (Piramal Finance), a wholly-owned subsidiary of Piramal Enterprises Ltd., has partnered with Digital India’s Common Service Centers (CSCs) to meet the lending needs of Bharat by improving access to formal credit for underserved individuals and MSMEs.

Through this collaboration, over Rs. 100 Cr. has been successfully disbursed in August 2024 to boost credit availability in semi-urban areas, providing essential financial products such as home and business loans. By leveraging CSC’s extensive network of over 6 lakh centers, this initiative aims to support budget customers in tier 2 and tier 3 cities, effectively addressing the financial needs of underserved regions and advancing financial inclusion.

Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd., said, “This milestone reflects our commitment to serving the budget customers of Bharat by making credit more accessible. Our partnership with CSC allows us to create meaningful financial opportunities in areas that have been overlooked. We are excited to expand this initiative further, helping more families achieve their financial goals and supporting small businesses in their growth.”

Mr. Sanjay Rakesh, MD & CEO, CSC SPV, said, “Common Service Centers (CSCs) are digital service hubs managed by local entrepreneurs under the Government of India’s Digital India initiative. They play a vital role in providing financial products and services to rural citizens. Our partnership with Piramal Finance aligns with our vision of financial inclusion, enhancing service reach in underserved areas of Bharat. Together, we aim to meet the financing needs of underserved MSMEs and promote a financially inclusive society across the country.”

Piramal Finance will expand its loan offerings through CSCs, targeting underserved regions to better serve individuals and MSMEs in tier 2 and tier 3 cities. By combining technology with local outreach, this partnership supports first-time borrowers and underserved communities, contributing to financial inclusion goals and fostering sustainable growth in lending. Customers can easily apply for loans at their nearest CSC with basic documentation, ensuring greater accessibility to financial services.

AISECT Seva Kendra Partners with NeGD to Provide Essential Government Services on UMANG Portal

Bhopal, September 16 2024: AISECT, a leading social enterprise dedicated to skill development and financial inclusion, has partnered with the National e-Governance Division (NeGD) to integrate over 300 government services through the UMANG portal. This strategic collaboration, available via AISECT’s online platform, aisectonline.com, and ASK nationwide, will significantly enhance access to government services in rural and semi-urban areas.

Starting this month, ASK will offer vital services such as birth and death certificates, driving licenses, marriage certificates, and Income Tax Return (ITR) filing, transforming these centers into comprehensive hubs for government services. This initiative meets the demand for a more streamlined and accessible platform, similar to existing systems like CSC and e-Mitra, empowering millions in underserved regions with easier access to essential services.

By offering these services through ASK, the organization aims to empower local entrepreneurs and residents by providing tools to manage essential services closer to home, fostering economic growth and bridging the digital divide. AISECT has already facilitated over 430 ITR filings this year, with significant increases in remote districts. The organization aims to exceed 650 filings by the end of the fiscal year and plans to expand its offerings to include PAN card applications, railway ticket bookings, and more, further supporting business growth and digital accessibility.

Speaking about the services Dr. Siddharth Chaturvedi, Executive Vice President of AISECT, said, “Our partnership with NeGD underscores our dedication to enhancing access to government services for all. Integrating UMANG services into our platform bridges the gap between government services and citizens, empowering local businesses and expanding their potential.”

Mr. Anil Kumar, Director of NeGD, added, “This collaboration exemplifies our mission to improve accessibility and efficiency of government services. The UMANG portal integration with AISECT’s platform will benefit citizens nationwide, especially in underserved areas, by offering a wide range of essential services through an accessible and user-friendly platform.”

Looking ahead, AISECT and NeGD are committed to further enhancing service offerings and expanding their reach, continuing to improve digital infrastructure and accessibility across India, and fostering inclusive economic growth.

MAGGI Crafts New ‘Happy Bowl’ with Love: Delightful Noodles for young ones

Bengaluru, 16th September 2024: Continuing with its spirit of culinary innovation, MAGGI has unveiled the Happy Bowl. The new product combines irresistible taste with goodness of atta, and is a source of protein, calcium, vitamin A, and fiber. Available in two delightful flavours, ‘Yummy Masala’ and ‘Twisty Tomato,’ this new offering is crafted to delight young palates while embodying MAGGI’s commitment to delivering great taste through innovation.

Mr. Rajat Jain, Director, Foods Business at Nestlé India, shared his enthusiasm for the new product and said, “At MAGGI, we are deeply passionate about the food we create, and MAGGI Happy Bowl holds a truly special place in our hearts. It promises to continue MAGGI’s legacy of creating beloved products for everyone in the family and provide them with more options. MAGGI Happy Bowl is our offering for the kids and a gift to moms, offering joyful simplicity in every bite”

Supporting the launch, MAGGI has rolled out a comprehensive marketing campaign that spans TV, digital media, print, and outdoor advertising across major cities. The campaign highlights the dual appeal of great taste and goodness, aiming to make the Happy Bowl a new favorite at family tables.

Zupee Enters into Strategic Partnership with ONDC to Boost User Acquisition and Thriving Gaming Community

Gurugram, India – 16th September, 2024 – In its bid to promote Indian board games , Zupee, India’s largest skill-based Ludo platform, has entered into an agreement with the Government-backed e-commerce platform, ONDC (Open Network for Digital Commerce) to make skill-based games from Zupee more accessible to the masses.

Under the agreement, Zupee is registered as a Seller application on the platform, with the pioneering gaming company offering its popular game of Ludo, through ONDC.

Speaking about the partnership, Dilsher Singh Malhi, Founder & CEO – Zupee, said, “We are delighted to partner with ONDC and be listed on the platform. This collaboration strengthens our efforts to bring the joy of playing culturally relevant Indian games, responsibly, to a larger audience. We are excited to test the potential of the partnership for both Zupee and ONDC users.”

The partnership will also help the leading game developer to build trust around online gaming amidst existing and future gamers.

T Koshy, MD & CEO – ONDC said, “ONDC has been committed to delivering a range of products and services through a democratized digital commerce and a neutral ecosystem for sellers. The integration of Zupee, one of the largest skill-based online gaming companies in India, on ONDC Network will be a critical step to strengthen the open and diverse digital marketplace. Zupee’s integration on ONDC Network will not only facilitate offering of value entertainment to larger users in India but also allow them to access a wider range of products and services at a right price from a single, unified platform.”

In conclusion, this partnership will empower ONDC and Zupee to expand their reach, accelerate customer acquisition, and provide even greater value to their growing user base.