12, Feb 2024
Samsung R&D Institute Bangalore Launches ‘Samsung Innovation Campus’ Programme
BENGALURU, India February 12, 2024: Samsung R&D Institute Bangalore (SRI-B) has inaugurated the Samsung Innovation Campus programme at the KLE Institute of Technology (KLEIT), Hubli to upskill youth in future tech domains such as Machine Learning, Artificial Intelligence, Coding & Programming, and Data Science. This initiative strengthens Samsung’s commitment towards the Government’s Skill India initiative as part of its vision of #PoweringDigitalIndia.
At the classroom facility, students and faculty at KLEIT will work on advanced technology training as well as projects on domains such as Machine Learning, Artificial Intelligence, Coding & Programming, and Data Science to make students industry-ready. Through the integration of technology, basic software skills and emerging capabilities, the programme seeks to empower its participants to grow into well-rounded professionals.
Additionally, the initiative also intends towards faculty development program through mentorship from SRI-B, to bridge the gap between industry and academia.
Mr. Mohan Rao Goli, CTO, SRI-B along with Prof. Rajesh Hegde, Dean (R & D), IIT Dharwad inaugurated the Samsung Innovation Lab at KLEIT, in presence of Prof. Ashok Shettar, Vice Chancellor, KLE Technological University and other distinguished members including Mr. Srimanu Prasad, Head, Tech Strategy, SRI-B and Prof. Sharad Joshi, Principal of KLEIT.
“The goal of the Samsung Innovation Campus is to contribute to the development of India by empowering youth, through education, training and development. Our partnership with KLEIT is a stepping stone towards creating an innovation centre that brings out the potential of the youth and trainers. This collaboration will not only enhance our research & development capabilities in emerging areas, such as Artificial Intelligence, Machine Learning, Big Data, and IoT etc. but will also connect us with a talent pool that will build innovative solutions to real-life problems”, said Mohan Rao Goli, Chief Technology Officer, Samsung R&D Institute, Bengaluru.
“Through the creation of this Innovation Centre, our students will gain invaluable insights to challenges facing the industry and will learn to develop technical skills to solve them. We are optimistic about our partnership with Samsung to significantly contribute to India’s advancement in these critical new technology fields which will empower the youth of India to effect positive change,” said Prof. Ashok Shettar, Vice Chancelor of KLE Technological University.
Through this initiative, SRI-B plans to upskill approx. 100 students and professors per year at KLEIT. SRI-B is already working with four engineering colleges across Karnataka and Andhra Pradesh, engaging more than 500 students on courses of Artificial Intelligence, Coding & Programming, IoT, and Big Data. More than 100 students have already received their certification of completion.
The demand for engineers/scientists with knowledge in Machine Learning, Artificial Intelligence & Data Science is high. With the rise of Artificial Intelligence and Machine Learning, Samsung is providing students with the tools they need to succeed in these growing fields. The Samsung Innovation Campus curriculum is designed to help close the skills gap and provide opportunities to students for growth in their job roles.
Samsung Innovation Campus acts as a hub for students and professors to work with SRI-B experts that enables them to have an in-depth understanding of the technologies through hands-on exposure to solve real-world challenges using cutting-edge Technologies.
Samsung Innovation Campus is the Company’s global citizenship programme that aims to bridge proficiency gaps in the country by skilling students on cutting-edge technology. Samsung has so far set up eight Samsung Innovation Labs in IIT-Delhi, IIT-Kanpur, IIT-Hyderabad, IIT-Kharagpur, IIT-Roorkee and IIT-Guwahati, IIITDM-Kurnool and IIT-Jodhpur as part of its Samsung Innovation Campus programme. So far, these labs have trained over 1,000 students.
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- By Rabindra
12, Feb 2024
Why it is a good time to invest in 37D
Investing in real estate is a strategic decision that requires careful consideration of various factors. India has been the land of investments in the real estate sector, with projects across diverse segments developed at prominent locations. Delhi-NCR has become one of the most profitable investment regions, with Gurugram being the most preferred choice for buyers. Among the burgeoning options, Sector 37D stands out as a compelling choice for both buyers and developers.
The increasing demand for residential and commercial spaces in Gurugram, coupled with the city’s economic growth, creates a favorable market for investment. Sector 37D, being part of this thriving ecosystem, stands to benefit from this rising demand. Besides, Sector 37D is characterized by inclusive urban planning that caters to the various needs of prospective buyers. The presence of schools, hospitals, shopping complexes, and recreational spaces ensures a well-rounded lifestyle, attracting potential buyers and tenants.
Sector 37D currently offers competitive pricing for real estate compared to some of the neighboring sectors. Investors can capitalize on this affordability, expecting property values to appreciate in the future as the area develops further. Sector 37D enjoys a strategic location in Gurugram, making it a pivotal hub for residential and commercial development. Proximity to major highways and business districts enhances its accessibility and attractiveness for investors.
The ongoing infrastructure projects in Sector 37D contribute to its allure. With planned road networks, metro connectivity, and other amenities, the area is poised for significant growth, providing a favorable environment for real estate investments. Government initiatives, especially those promoting infrastructure development and affordable housing, are likely to impact Sector 37D positively. Keeping abreast of such initiatives provides investors with valuable insights into the potential growth trajectory of the area.
Several upcoming residential and commercial projects in Sector 37D have also been adding to its investment appeal. Exploring these projects allows investors to align their investment goals with the diverse opportunities available in the area. With the ongoing development and planned infrastructure, Sector 37D holds the promise of future appreciation. Investors with a long-term perspective can position themselves to reap the benefits of property value appreciation in the years to come.
Investing in Sector 37D presents a golden opportunity for those looking to capitalize on the growth potential of Gurugram. The strategic location, infrastructure development, and rising demand make this sector a promising destination for real estate investments. As the city continues to evolve, investing in Sector 37D is not just about the present; it’s about securing a stake in the future of Gurugram’s dynamic real estate landscape.
12, Feb 2024
SATTE 2024 to be Key Catalyst Heralding Indian and Global Tourism Recovery
New Delhi, 12 February 2024: Informa Markets in India, the leading exhibition organizer, is all set to organize SATTE 2024, South Asia No 1 travel exhibition. Scheduled from 22nd -24th Feb 2024 at the India Expo Mart, Greater Noida, Delhi NCR. SATTE has received overwhelming response from the Indian and global travel and tourism market. Now in its 31st edition and as one of the biggest shows in the APAC region, SATTE’s 360-degree role in developing domestic, regional, inbound and outbound tourism finds its greatest echo in the show’s growing stature as the biggest ever 2024 edition is expected to draw participation of over 1500+ exhibitors, 800+ hosted international and domestic buyers, and agents/operators/professionals from over 120 Indian cities/towns.
SATTE 2024 offers perfect opportunity to gain an insight into India’s booming travel industry. The show brings the entire value chain of the travel, tourism, and hospitality industry at one platform to explore the tourism business opportunities and exchange ideas about the emerging scenario of the industry. With India’s visitor export earnings forecast to reach US $50 billion by 2028, SATTE 2024 is the right platform to support in achieving the set of goals of Indian tourism.
SATTE has consistently been supported by the Ministry of Tourism, Government of India, Indian and International Tourism Boards, Global travel trade bodies, airlines, hotels, wellness resorts, cruises, theme parks, cinema locales, corporate travel, investors and wedding planners amongst others.
SATTE 2024 introduces “ATITHI” an exclusive Reverse Buyer-Seller Meet, a pioneering initiative by Services Export Promotion Council (SEPC), with the support of Ministry of Commerce & Industries. Aimed at boosting inbound tourism, SEPC, in association with SATTE, is mobilizing the participation of around 250 international buyers from more than 50 countries to enhance business opportunities for stakeholders from Indian Tourism Industry from across India. The SEPC@SATTE initiative comes at the most opportune moment to make India a most sought-after travel destination in the world, and to ultimately accomplish Vision@2047.
Among the states, Uttar Pradesh is the Host State. Bihar, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Uttarakhand are partner states. We shall also be witnessing participation from Ministry of Tourism Govt. of India and the 8 Northeastern States.
SATTE 2024 also has confirmed participation from NTOs such as Saudi Arabia, Dubai, Mauritius, Gorgia, Azerbaijan, Jamaica, Uzbekistan, South Korea, Maldives, Thailand, Malaysia, Indonesia, Singapore, Hong Kong, Danang Province of Vietnam, Chonburi Provindal of Thailand, Nepal, Sri Lanka, Bhutan amongst others. While Saudi Arabia is the Premium Partner Country, Dubai, Maldives, Sri Lanka, Singapore, Malaysia and Thailand are partner countries.
Moreover, private players such as Air India, Resort World Cruise, MakeMyTrip, EaseMyTrip, TBO.com, RezLive, Tripjack, TravClan, Akbar Travels, TravelBullz, My Value Travel, Yorker Holidays, Wow Holidays, Rayna Destination Management, Satguru Travel, Fly24hrs, GRNconnect, Stic Travel, Ark Travels, STS World, European Voyages, Royal Thai Vacation, OneAbove, FlyRemit, Salvia Travels, Sarovar Hotels & Resorts, The Fern Hotels & Resorts, Sterling Holidays, Cheval Collection, Suba Hotels, Udaan Hotels & Resorts, Key Resorts International, Uday Samudra Leisure Beach Hotel, Island Holidays, Cruise Carrot, are some of the prominent names who are part of the current edition.
The show also extends ties with PATA and has always been well supported from the associations like UFTAA, TAAI, TAFI, IATO, ADTOI, SKAL, ICPB, TOA, ABTO, OTOAI, ATOAI, ETAA among others.
Mr. Yogesh Mudras, Managing Director, Informa Markets in India, expressed his enthusiasm for SATTE 2024, saying, “The travel and tourism industry in India witnessed a milestone year in 2023, experiencing remarkable growth and reaching approximately INR 16.5 trillion, thereby highlighting its pivotal role in the nation’s economy. Notably, there was a significant increase in travel frequency among Indians, including for MICE tourism, with a growing interest observed in both popular, lesser-known, and spiritual destinations. This trend presents an opportunity for destination diversification and addresses concerns regarding over-tourism. Furthermore, this narrative of growth was complemented by substantial enhancements in transportation infrastructure, including improvements in road networks and air connectivity, with the addition of 85 new sectors since April 2023.
Within this dynamic context, we are thrilled to announce the 31st edition of SATTE, with its multitude and strategic tie-ups, features, and trends, serving as the premier platform for building connections, exploring futuristic innovations, and witnessing the aura and colour of our show. This, we are certain will enhance the experience for all our esteemed attendees. The 2024 edition of the show is the largest ever, with Halls 5 and 6 being additionally utilised to accommodate the unbounded enthusiasm of stakeholders. For 2025, basis customer feedback, the show will be shifting to India’s largest convention and exhibition centre, Yashobhoomi (India International Convention & Expo Centre) in Dwarka, New Delhi,” he added.
Extensive Knowledge Sharing:
SATTE 2024 offers the perfect opportunity to gain insights into India’s booming travel industry. The show brings the entire value chain of the travel, tourism, and hospitality industry under a giant umbrella, to explore the tourism business opportunities and exchange ideas about the emerging scenario of the industry.
SATTE’s renowned knowledge-sharing sessions will also be taken to newer heights. Some of the conference subjects for this year includes ‘Tourism: The Balancing Act’, ‘Voice, Views and Action’, ‘Decoding MICE for Business & Career Opportunities’; ‘Tourism@2047: Amritkal Threadbare’; ‘Niche Affairs: Big Dollars’ and ‘Roar of The MICE’. Prominent Indian and International names in the travel and tourism space such as Ms. Ni Made Ayu Martini Deputy Minister of Marketing, Ministry of Tourism and Creative Economy Govt. of Indonesia; Noor Ahmad Hamid, CEO, PATA, a prominent international voice of travel and tourism; Sunil Kumar, President, UFTAA, the global umbrella organisation of travel agency industry; Steve Richer, Co-chair, Advocacy and Global Partnerships Committee at Skål International; Rajeev Kohli, former President, SITE Global; Gail Adams, CEO of Adams Jackson & Associates will moderate or speak at the various business sessions. Other prominent industry names and voices to feature at SATTE 2024 Conference include, Vishal Bhatia, Country Manager VisitBritain; Romit Theophilus, Director of German National Tourism Office in India; Abhinash Manghani, CEO of WelcomHeritage; Sanjay Basu, MD, Far Horizon; Ranjit Singh Parmar, Founder & CEO, Palaces of India and Naresh Rawal, Vice President, Sales & Marketing at Resorts World Cruises (India) among others.
The sessions will cater to every niche like wellness, adventure, and workcations. And to spark dynamic dialogue, we’re embracing interactive formats like workshops, panel discussions, and Q&A sessions.
Pre-Event Initiatives:
Leading up to the event, SATTE has had comprehensive outreaches in Tier 1 and 2 cities with Circle 31, where 31 handpicked industry influencers from emerging destinations were a part of our panel discussions; Association Reach programme, where networks of associations from potential tourist hubs were fostered. Additionally, ‘SATTE Travel Insight Podcasts’ (a Podcast featuring industry leaders), ‘SATTE Connect’ (10 city roadshow), and ‘GenX 365 Click’ (a new age digital portal to bring Buyers and Sellers at one platform to generate business leads) have created the requisite buzz. With sustained skilling being so critical to the industry, the SATTE ‘Travel Hospitality CSR initiative’ involves funding 50 students and training them for jobs in the tourism sector. At the venue, the highly coveted ‘SATTE Awards’ continues to recognize and reward innovation and excellence in the industry.
With these engagements, SATTE 2024 is set to be Bigger, Better and Bolder aiming to bring boundless energy to the Indian tourism market. The show will be organised at Yashobhoomi, Dwarka, from next year, with an aim to accommodate an even larger number of exhibitors and attendees, further solidifying its status as a premier platform for the travel and tourism industry in South Asia.
12, Feb 2024
Two99 Welcomes Vishnu Kanth Gokul as Chief Growth Officer
With nearly three decades of experience, Gokul brings a wealth of knowledge and expertise to Two99
12th Feb 2024: Two99, a leading force in digital innovation and strategic growth, is excited to announce the appointment of Vishnu Kanth Gokul as the new Chief Growth Officer. Gokul joins the team with an impressive background, having accumulated nearly 30 years of experience in digital and media sales across some of the industry’s most respected platforms and companies.
Gokul’s career is highlighted by his roles at renowned organizations such as Rediff, Sify, Sulekha, Rajshri.com, 123greetings.com, Percept, Times Internet ( Cricbuzz.com), Qoruz, and Zoo Media Network as a dominant player onboarding top-tier agencies and securing major brands, which led to increased revenue and market share.
At Two99, Vishnu will play a pivotal role in steering the company towards new heights of innovation and collaboration. His appointment is a testament to Two99’s commitment to excellence, nurturing human relationships, and safeguarding core values and ideas.
“We are excited to welcome Vishnu to our team. His exceptional track record, deep understanding of the digital landscape, and commitment to growth align perfectly with our vision at Two99. With Vishnu’s leadership, we are poised to revolutionize the digital ecosystem, enhancing user experiences, cultivating dynamic communities, and optimizing distribution efficiency.” Agam Chaudhary, CEO, Two99 (Ecommerce, Tech Marketing, Cyber Security)
12, Feb 2024
7 Book Covers Make It to the Shortlist of the Oxford Bookstore Book Cover Prize 2024
Kolkata, February 12, 2024: Dr. Alka Pande, Priti Paul, Dr. Kunal Basu and Anja Riedeberger and announced the seven shortlisted titles on the second day of the 15th Apeejay Kolkata Literary Festival (AKLF).
A list of 7 book covers chosen by the distinguished jury comprising author and Member of Parliament, Dr. Shashi Tharoor; author, columnist and novelist, Shobhaa De; author and academic, Dr. Kunal Basu; Museum Curator and Jury Chair, Dr. Alka Pande; Director, Apeejay Surrendra Group and the creative force behind the Oxford Bookstore chain, Priti Paul and Guest Jurors, Director, Institut français in India and Counsellor for Cooperation and Cultural Action, French Embassy in India, Emmanuel Lebrun- Damiens and Director Information Services South Asia Goethe-Institut / Max Mueller Bhavan Anja Riedeberger, were announced at the marque event.
In its first year, Bena Sareen was awarded the prize for the book, “Talking of Justice” by late author, Leila Seth, published by Aleph. The following year designer Pinaki De was declared winner for the book “Kalkatta” authored by Kunal Basu, published by Picador India. The third Oxford Bookstore Book Cover Prize was awarded to Maithili Doshi Aphale for the book “Himalaya” authored by Ruskin Bond and Namita Gokhale, published by Speaking Tiger. In the fourth year the prize was awarded to Bonita Vaz Shimray for the book “Remnants of a Separation” by Aanchal Malhotra published by HarperCollins. The fifth edition prize was handed over to Sneha Pamneja for “Tiffin”, published by Roli Books. Graphic Designer Gunjan Ahlawat was awarded the prestigious award in the sixth edition for the book “Gun Island” by Amitav Ghosh, published by Hamish Hamilton, an imprint of Penguin Random House. Renowned visual artist, designer and researcher, Ishan Khosla was adjudged the winner of the seventh edition of the prestigious prize. Khosla won the award for designing the cover of ‘Kintsugi’ by author Anukrti Upadhyay, published by Fourth Estate. Paramita Brahmachari bagged the eighth Oxford Bookstore Book Cover Prize for designing the cover of the book titled, Pebble Monkey by Manindra Gupta, published by Jadavpur University Press.
SHORTLIST – OXFORD BOOKSTORE BOOK COVER PRIZE 2024
1. NOMINATED BOOK- The Book Beautiful
NAME OF THE AUTHOR- Pradeep Sebastian
NAME OF THE DESIGNER- Bhavi Mehta
NAME OF THE PUBLISHER- Hachette India Adult & Business/ An Imprint of Hachette India
2. NOMINATED BOOK – The Penguin Book of Indian Poets
NAME OF THE AUTHOR- Edited by Jeet Thayil
NAME OF THE DESIGNER- Ahlawat Gunjan
NAME OF THE PUBLISHER- Hamish Hamilton/ An Imprint of Penguin Random House
3. NOMINATED BOOK- Azad Nagar
NAME OF THE AUTHOR- Laura T. Murphy
NAME OF THE DESIGNER- Saurav Das
NAME OF THE PUBLISHER- Solo Nomination/ HarperCollins India
4. NOMINATED BOOK- The Adornment of Gods
NAME OF THE AUTHOR- Devdutt Pattanaik
NAME OF THE DESIGNER- Saurabh Garge
NAME OF THE PUBLISHER- Westland Books
5. NOMINATED BOOK – Not Quite a Disaster after All
NAME OF THE AUTHOR- Buku Sarkar
NAME OF THE DESIGNER- Amit Malhotra
NAME OF THE PUBLISHER- Harper Fiction/ An Imprint of HarperCollins India
6. NOMINATED BOOK- When Indian Flowers Bloomed in Europe
NAME OF THE AUTHOR- Ebeltje Hartkamp- Jonxis
NAME OF THE DESIGNER- Sashi Bhushan Prasad
NAME OF THE PUBLISHER- TAPI Collection/ An Imprint of Niyogi Books
7. NOMINATED BOOK- Mystics and Sceptics
NAME OF THE AUTHOR- Namita Gokhale
NAME OF THE DESIGNER- Bonita Vaz Shimray
NAME OF THE PUBLISHER- Harper Non Fiction/ An Imprint of HarperCollins India
12, Feb 2024
PRIME MeghaPreneur Expo 2024 Ignites Entrepreneurial Excellence in Meghalaya
National, February 12, 2024: The three-day PRIME MeghaPreneur Expo 2024, held at the SRGT Polo Ground, marked a triumphant celebration of entrepreneurial zeal in Meghalaya. The event, graced by the esteemed presence of Hon’ble Chief Minister, Shri Conrad K Sangma, underscored the government’s steadfast commitment to nurturing entrepreneurial talent across the state.
Dignitaries including Hon’ble Deputy Chief Minister Sniawbhalang Dhar, Minister of Animal Husbandry and Veterinary Shri AL Hek, Minister of Tourism Shri Bah Paul Lyngdoh, Minister of Legal Metrology Department, Revenue & Disaster Management Department, Excise Department Shri Kyrmen Shylla, Hon’ble MLA Shri Ian Botham Sangma, Hon’ble Commissioner & Secretary, Government of Meghalaya, Dr Vijay Kumar D, IAS, among others, graced the occasion, further highlighting the government’s dedication to fostering a vibrant entrepreneurial ecosystem.
In his opening speech, Hon’ble Chief Minister Conrad K. Sangma reiterated the government’s dedication to promoting entrepreneurship through initiatives like the CM ELEVATE Program. He emphasized the program’s goal of empowering over 20,000 entrepreneurs across diverse sectors within the next 3 to 4 years—a landmark endeavour in the state’s history. Highlighting the substantial government support, he announced contributions totalling approximately Rs 22.67 crores to bolster 71 entrepreneurs across various sectors.
Hon’ble Chief Minister Shri Conrad K. Sangma stated, “As a government, we firmly believe that entrepreneurship serves as the cornerstone for driving the economy of a nation or state. Our strategy, since the inception of MDA I, has been centred around fostering entrepreneurship as the main driver of the economy and creator of employment within our state. Our mission is to acknowledge and support as many entrepreneurs as possible, thus laying the foundation for a vibrant entrepreneurial culture. Through initiatives like CM ELEVATE, most progressive entrepreneurship program, we aim to provide substantial support, offering a 75 percent subsidy and comprehensive assistance to nurture business growth and logistical support and administrative support.”
Hon’ble Chief Minister added, “Our goal is to empower over 20,000 entrepreneurs across various sectors within the next 3 to 4 years—an unprecedented feat in our state’s history. Recognizing our efforts, the Government of India has awarded us as a top-performing state in the national startup awards amongst small states. This achievement is a testament to the vision and collaborative effort of our team at PRIME and the response we have received continuous feedback from entrepreneurs. With over 5,500 entrepreneurs currently under our support, we anticipate a significant increase in the coming years. Congratulations to all the winners and beneficiaries, who represent the driving force behind our entrepreneurial ecosystem and serve as beacons of inspiration for society”.
The event concluded with a series of awards ceremonies, including the handing of the Certificate to the PRIME team for the TOP Performer Award, and the CM ELEVATE Award. The event marked the presentation of certificates and cheques to the Cohort 4 incubatees of the Chief Minister’s E- Championship Challenge 4.0, PRIME Advanced training centres as well as the certificate distribution to the Graduating incubated entrepreneurs of the Chief Minister’s E-Championship Challenge 3.0, among other events followed by a fashion show and dance performance added flair to the evening.
Moreover, the event provided a platform for engaging discussions and presentations by industry experts like Mr. Jayanta Das, Mr. Shashank Kumar, and Mr. Raghuram Kuchibatla, enriching the entrepreneurial landscape in Meghalaya. Acknowledging the accomplishments of existing entrepreneurs, the expo featured captivating sessions by entrepreneurs like Mr. Elvee Marbaniang from Runo Health, among others.
The expo also facilitated academic institutes in showcasing their entrepreneurial endeavors, with St. Anthony’s College, Shillong, and Shillong College sharing their experiences with the Entrepreneurship Development Program (EPDP). Mr. Pranjal Konwar, COO of IIMCIP, provided an insightful overview of PRIME and its pivotal role in fostering entrepreneurship in the region.
In summary, the three-day PRIME MeghaPreneur Expo 2024 emerged as a resounding success, epitomizing the spirit of entrepreneurship and innovation in Meghalaya, and serving as a catalyst for inspiring future generations of entrepreneurs.
10, Feb 2024
SIDBI unveils “Prabhaav” – An Impact Study of the Fund of Funds for Startups
Hyderabad/ 10th February 2024: Fund of Funds for Startups (FFS), a key component of the Startup India Action Plan launched by Hon’ble Prime Minister Shri Narendra Modi ji in 2016, is today one of the flagship programmes of DPIIT, Government of India and has proven to be a game changing intervention of Government of India in country’s Startup Ecosystem. The scheme is being managed by SIDBI on behalf of, and under the overall guidance and direction of DPIIT.
In this connection, a third-party assessment of the scheme was undertaken by CRISIL, India’s premier analytics company and pioneer of AIF benchmarking in the country. CRISIL’s impact assessment report viz. Prabhaav, was unveiled today by SIDBI.
Shri S. Ramann, Chairman & Managing Director, SIDBI along with Shri S P Singh, CGM Venture Finance, presented the report to Dr Vivek Joshi, Secretary, Dept. of Financial Services, Ministry of Finance, GoI, Shri Rajesh Kumar Singh, IAS, Secretary, DPIIT and Shri Sanjiv, IRS, Joint Secretary, DPIIT, Ministry of Commerce & Industry.
The Fund of Funds for Startups, which contributes to the corpus of category I & II Alterative Investment Funds (AIFs), with a mandate for investment to startups, is one of the key initiatives which has transformed India into the 3rd largest startup ecosystem in the world today, by providing a sizeable catalytic pool of risk & growth capital to startups.
The report reveals heartening all-round outcomes of this initiative of GoI on aspects encompassing multiplied flow of capital, innovative solutions, inclusiveness & diversity in coverage of startups, deepening of startup funding ecosystem in the hinterlands of the country, strengthening of governance as well as wealth creation.
Key highlights of the report indicate that as on November 30, 2023, as many as 129 AIFs have been sanctioned commitment out of FFS across segments. The scheme has already catalysed investments to the tune of ~4x of the amount drawn with ₹17,534 crore invested in 938 unique startups. Thus, the scheme resulted in significant multiplier effect, promoting enhanced capital flow into this segment. While FFS largely focusses on early-stage funding in young companies, as many as 18 of its startups have already become unicorns.
The scheme has also channelised investments in startups in emerging sectors such as deep tech, agri/agri solutions, health tech, financial services, and sustainability. Implemented with emphasis on diversity & inclusiveness, after launch of FFS, 129 startups beyond Tier 1 cities have received investments aggregating ₹1,590 crore. Another heartening outcome was the increasing support to women led startups as well as women led fund managers.
The scheme has ushered in a revolution in Venture Capital Space in India too, emerging as hallmark of approval for the fund managers as well. As per the survey conducted by CRISIL as part of the assessment, 89% respondents confirmed that support under FFS was instrumental in anchoring their fund raise. More than 75% respondents said they experienced a positive impact in raising non-institutional domestic capital post commitment by SIDBI under the scheme. Further, out of the AIFs supported, as high as 35% are being managed by first time Fund Managers, which will help deepen and enhance the reach of the AIF / VC funding ecosystem, as summed up by CRISIL in its assessment.
The Secretary, DFS and Secretary, DPIIT appreciated the initiatives and progress demonstrated by SIDBI in managing the scheme and the outcomes already achieved.
Since, its formation in 1990, when the risk capital and VC ecosystem for innovative enterprises and startups was nearly non-existent in the country, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative, and inclusive approach. Over the last 3 decades, SIDBI has taken several pioneering steps to support building up of startup ecosystem including support out of its own balance sheet. SIDBI supported setting up of several schemes on its own before emerging as a key partner of the Government of India and several State Governments for managing their vision in Startup space through Fund of Funds interventions. Apart from FFS, it also manages ASPIRE Fund of Funds of Ministry of MSME with focus on Agro and Rural enterprises, and state focussed Fund of Funds for Uttar Pradesh & Odisha.
10, Feb 2024
DefSAT 2024 Wraps Up with SIA-India’s Focus Cybersecurity Cooperation
New Delhi,10th February 2024: SIA-India solidifies a cybersecurity partnership by signing an MoU with the Information Sharing and Analysis Center (ISAC) to enhance India’s cyber resilience. This collaboration aims to fortify defence mechanisms, foster information exchange, and promote proactive cyber defence practices in the space sector, safeguarding space operations’ integrity and security. With the participation of over 500 stakeholders, including government bodies, armed forces, policymakers, industry leaders, and diplomats, alongside a global audience via live stream, DefSAT 2024 reflects a significant step forward in India’s cybersecurity preparedness, in line with the visionary objectives of the Prime Minister and the Defence Ministry.
“Dr. Ajay Kumar, Former Secretary of the Ministry of Defence highlights the crucial role of defence space and calls for accelerated budget allocation, emphasizing the need for a larger investment in the rapidly evolving sector. With startups securing contracts and grants, there’s immense potential to leverage the vibrant ecosystem. Global private equity interest underscores India’s attractiveness. NavIC’s expansion into civil and defence sectors is imperative for strategic navigation, while robust cryptographic protocols are essential for satellite communication security. India’s quantum communication startups offer a pathway to significant advancements in the field.
“The Defence Acquisition Procedure has evolved significantly, fostering private innovation in sectors like satellites and space. To enhance this, the DAP should actively support innovation in services and manufacturing, simplifying the procurement of new technologies. Since these innovations may lack multiple suppliers initially, the DAP should empower authorities to readily procure these solutions.” Dr Ajay Kumar Added.
Mr. Mahaveer Singhvi IFS, Joint Secretary of New Emerging and Strategic Technologies (NEST), underscored the significance of AI, quantum, space, green hydrogen, and defence sectors, emphasizing the need to engage with all stakeholders and SIA-India for providing the ideal platform for collaboration. He highlighted the recent interim budget announcement, wherein the government unveiled a notable surge in support for the space sector, pledging an additional investment of $2 billion annually for the next decade. This commitment is poised to propel India’s space industry to new heights, projecting a market value of $44 billion and a contribution of 8-10% to the global space economy by 2033, with export sales expected to reach $11 billion within the same timeframe. Additionally, Mr. Singhvi highlighted the importance of enablers like technology transfer, data localization, trade dispute resolution, and IPR policies.”
Air Vice Marshal Pawan Kumar, VM, Director General of the Defence Space Agency (DSA) stressed the pivotal role of platforms like DefSAT, noting the protracted development timeline in a field where technology is paramount. He referenced Operation 1991, commonly known as Desert Storm, hailed as the pioneering “space war” that leveraged GPS, precision-guided weapons, and satellite communication as integral components rather than mere supplements. Reflecting on the costly and data-intensive nature of space ventures, he underscored the imperative of maximizing resource utilization and fostering civil-military fusion.
Lt. Gen. PJS Pannu, Chairman of the Defence Space Committee at SIA-India, envisions a transformative trajectory for the Indian Military, amalgamating the realms of Land, Air, and Sea into a seamlessly integrated force fortified by cyber security measures. This holistic approach encompasses Space, Cyber, and Digital (ICT) capabilities, underscoring the imperative for a cyber-secured environment. ISAC serves as the linchpin in this endeavour, providing a vital nexus for intelligence gathering on cyber threats to critical infrastructure.
The partnership between SIA-India and ISAC establishes a collaborative framework aimed at fortifying the nation’s space and defence cybersecurity posture and safeguarding essential assets from cyber risks. Gen. Pannu emphasizes the necessity for military engagement amidst our evolving security landscape. He underscores the pivotal role of cybersecurity in modern decision-centric warfare, citing the integration of cyber capabilities into concepts such as DARPA’s Mosaic Warfare.
The SIA-India is proud to have support from pivotal government entities and esteemed organizations such as Niti Aayog, ISRO, NSIL, IN-SPACe, DoT, DRDO, and Ministry of Defence.
10, Feb 2024
Genpact Propels AI-First Strategy with New Executive Leadership Appointments
NEW DELHI, February 10 2024 – Genpact (NYSE: G), a global professional services firm focused on delivering outcomes that transform businesses, today announced two new executive leadership appointments. These appointments demonstrate the company’s continued focus on strengthening its executive team with transformative digital leaders to propel the company into its next chapter of growth, leveraging data, technology, and AI-first principles.
Vipin Gairola – Global Operating Officer
Vipin Gairola has been appointed Genpact’s Global Operating Officer and is leading the charge of transforming service delivery for Genpact’s clients by leveraging AI-led solutions. As Global Operating Officer, Gairola oversees Genpact’s global client operations, analytics, data, and technology across all countries. He is part of Genpact’s Leadership Council and will lead the company’s Operations and Cost Council. Gairola comes to Genpact from Accenture, where he served in several senior leadership roles over the past two decades. His most recent role was Chief Strategy Officer for Accenture Operations.
Vidya Rao – Chief Technology and Transformation Officer
Vidya Rao, Genpact’s Chief Information Officer, takes on an expanded role of Chief Technology and Transformation Officer. In this role, she will be at the forefront of reimagining Genpact’s internal processes, tools, technologies, and infrastructure with an AI-first approach. Furthermore, Rao will also play a crucial role in establishing a world-class data office to fortify Genpact’s data capabilities. This will enable Genpact to harness the power of data and drive insights to guide our AI and Automation initiatives effectively and shape our internal functions for the future.
“We are excited to have highly talented and transformative individuals in key leadership roles at Genpact. Vidya and Vipin’s appointment emphasizes our ongoing strategy to re-energize our leadership team to drive us into our next chapter of growth,” said BK Kalra, President and CEO, of Genpact. “More and more of our leadership has deep expertise in data, analytics, operations, and AI and their experience will play a pivotal role in how Genpact and our clients will do the work in an AI-driven world.”
10, Feb 2024
Two-day International Conference on Comparative Law- 2024 organized by Amity Law School…
Amity Law School Noida organized the 5th International Conference on Comparative Law in collaboration with School of Business and Law, Edith Cowan University, Australia, from 9th -10th February 2024. The two-day Conference comprised of six themes- Modalities of Comparative Law, Comparative Constitutional Law, Comparative Criminal Law and Human Rights, Comparative IPR, Technology Law and Emerging Legal Domains and Comparative Business Law and Comparative Family Law.
Addressing the law students of Amity, Chief Guest Hon’ble Mr. Justice Dipak Misra, Chief Justice of India (Retd), said, “The emergence of Comparative Law is attributable to several historical and legal developments, instilling a sense of belongingness and interconnectedness amongst the legal professionals from different parts of the world. There is a growing sense of urgency to understand and compare the laws, since the world is changing at a faster pace and therefore studying Comparative Law will be instrumental in influencing the policymakers of the Indian Judicial System to apply new concepts and ideologies to make it better.”
Introducing the Conference, Dr. Joshua N Aston, Associate Dean & Conference Co-Chair, School of Business and Law, Edith Cowan University, Western Australia, averred, “The Conference is a testament to collaboration and pursuit of knowledge across borders. It stands as a shining example of academic endeavours to enhance and develop the skills and knowledge of future law professionals. The collaboration is bound to foster cooperation and growth of various legal systems across the world and will inspire many generations of legal scholars.”
Emphasizing upon the significance of studying Comparative Law, Hon’ble Mr. Justice Rajesh Tandon, Judge (Retd.), Uttarakhand High Court, asserted, “The purpose of studying Comparative Law is to learn from other judicial systems of the world. There is always scope for improvement and Comparative Law provides an insight on how the other legal systems of the world function. The conference will allow legal professionals, learned members of the academia, research scholars and students to explore, assess and compare the legal order of any two or more countries.”
Guest of Honour Mrs. Cecilia Inés Silberberg, Embassy Counselor and Consul Argentina Embassy, said, “Comparative law is helpful in understanding, analyzing and comparing the legal systems, encompassing the spirit globalization. During the pandemic, technology was used more for data theft during the pandemic and government guidelines were ignored, therefore, being aware of international cyber laws is extremely crucial for cyber security.”
Prof. (Dr.) Manoj Kumar Sinha, Vice-Chancellor, Dharmashastra National Law University, Jabalpur, “Global developments, transnational governance, and complex economic interdependence, aided by the development of new communication and information technologies, have contributed to making the legal profession more complex and contemporary. Therefore, Comparative Law has become of tremendous significance for the growth of modern legal societies and the Conference will be highly beneficial for law students in understanding the judicial systems of other countries and influencing the policymakers of the Indian Judicial System to apply new concepts and ideologies to make it better.”
Hon’ble Mr. Justice Ritu Raj Awasthi, Chairperson, Law Commission of India, stated, “Constitutional Comparative Law allows for a broader perspective by embracing novel thoughts and ideas and incorporating them into the judicial system, promoting a more robust approach. Constitutional Comparative Law helps legal practitioners to understand different legal structures and facilitates exchange of ideas. Legal professionals should draw inspiration from successful legal systems of the world and derive new concepts from them.”
Prof. (Dr.) Balvinder Shukla, Vice -Chancellor, Amity University, Uttar Pradesh, said, “It is important for the students to study and compare the laws of different countries since it makes them aware about the judicial systems of different countries, thereby widening their horizon and developing their understanding of the legal systems. The two-day conference will not only bring new insights but also hep in collaboration in different areas such as student exchange programme, faculty exchange programme and cross-cultural exchange.”
Highlighting the significance of the Conference, Dr. D. K. Bandopadhyay, Chairman, Amity Law School, said, “Adopting a comparative approach helps to delve deep into one’s legal system to assess and appreciate the similarities and divergences amongst legislations, legal institutions, political frameworks, social ideologies, policies and rules in corresponding jurisdictions. With the advancement of trade, commerce and technology, the legal system have witnessed huge transformations, therefore it is pertinent to have knowledge of the best practices and adopt new methodologies for faster resolution of legal disputes.”
Also present during the Inaugural Session were Dr. Aditya Tomer and Dr. Shefali Raizada, Additional Directors, Amity Law School and a Conference Abstract Book was released on the occasion.
During the two-day Conference, more than 230 research papers were presented and representatives from different countries including Spain, France, Switzerland, Italy, Macedonia, Indonesia, Canada, Finland, USA, Germany, Sri Lanka, and International Universities such as Harvard Law School, USA, The University of Texas at Austin School of Law, USA, Universitat autònoma de Barcelona, Spain, SciencesPo Law School, Paris, France, University of Lucerne, Switzerland, amongst many others, participated in the Conference.
