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EDII organises annual startup summit ‘Empresario’ on National Startup Day

New Delhi/Mumbai/Ahmedabad/Bangalore, January 17, 2023: The Entrepreneurship Development Institute of India (EDII), on Monday, organised its annual entrepreneurship festival— Empresario— on the occasion of National Startup Day. The event was inaugurated by Shri Harsh Sanghavi, Hon’ble Minister of State for Home, Industries, Cultural Activities (State Minister); Sports, Youth Service (Independent Charge), Government of Gujarat. Other dignitaries at the inauguration included Shri Rajiv Gandhi, Co-Chair, FICCI, Gujarat State Council and Prof. Deepak Kumar Pandey, Assistant Director, Department of Higher Education, Government of Uttarakhand.

The two-day festival (16th & 17th Jan’2023) includes master classes by industry veterans, talks by successful startup founders, workshops, discussions and startup awards. The summit also included a Big Pitch Event, where over 30 startups pitched their products and services to a panel of 15 investors with an aim to garner funding. The theme for this year’s celebration was entrepreneurship and sustainability. Notably, startups featured in the popular reality show ‘Shark Tank India’ also participated in the two-day event.

In his inaugural address, Shri Harsh Sanghvi, said, “Gujarat is on the road to being one of the most progressive startup destinations in the country through a merger of proactive policies, strong institutional setup, and dynamic participation of the private sector. The ‘Stand Up India’ and’ Start Up India’ Schemes were launched in 2016 and since then, more than 80,000 startups have been registered and about 100 unicorns have come into being. It is heartening to note that more than 48% of startups are by females.”

He added, “The state has introduced several changes in regulations and clauses to create a conducive ecosystem. We see an active collaboration between government, industry and institutions, association of startup hubs of India with startups in the state and creation of intrastate regional centres for startups. The State has successfully addressed the concerns of startups through innovative and sustainable solutions, and through setting up of incubators and accelerators.”

Speaking about Empresario, Dr Sunil Shukla, Director General, EDII, said, “EDII’s startup summit is one of the most unique entrepreneurship festivals held in India. Since its inception in 2012, Empresario has witnessed participation from over 1,000 startups. There is idea generation, opportunity creation and exceptional learning at this event. ”

Dr. Shukla emphasized on the role of technology and innovations in the success of startups. He announced that the EDII’s Technology Business Incubator – the Centre for Advancing and Launching Enterprises (CrAdLE), has incubated 106 startups so far, that have raised over INR 30 crore in funding. Talking about a recent development, he said, “EDII will now have another incubation centre sanctioned by the NITI Aayog under the Atal Innovation Mission (AIM). EDII is also associated with CSR projects of several corporates directed at raising the numbers of entrepreneurial ventures and startups in the country.”

Shri Rajiv Gandhi, Co-Chair, of FICCI, Gujarat State Council, said, “Empresario is a big networking platform, and networking makes a huge difference in enhancing boundaries, curating opportunities and developing knowledge for an entrepreneur. Shri Gandhi also stressed on the significance of dedication, integrity and commitment for an entrepreneur. To the potential and the existing startups, his advice was to institute a transparent human resource policy and establish good communication.”

Prof. Deepak Kumar Pandey, Assistant Director, Department of Higher Education, Government of Uttarakhand said, “The concept of entrepreneurship and startups is picking up in the country. I believe a conducive ecosystem and thrust on entrepreneur-friendly policies are playing a big role in ensuring that youth and other sections of society opt for entrepreneurship as a career. As academicians, we are placing accent of developing an entrepreneurial mindset among our students.”

The event also witnessed The Startup Award 2023, in which 4 startups were selected for awards out of 28 nominations.

Some of the notable speakers over the two days will be: Dr Anil K. Gupta – Founder, Honey Bee Network; Shri Deepak Gadhia – Chairman & Managing Director, Sunrise CSP India; Shri Paresh Gupta, Neos Angles, Network LLP; Shri Dipan Sahu, Asst. Innovation Director, Ministry of Education’s Innovation Cell & AICTE, GoI; Shri Sanjay Maury –Urban Air Labs; Shri Mansukh Prajapati – Founder, Miticool; Shri Snehal Desai- Motivational Speaker; Ms. Anushree Maloo, Co-Founder, Nuutjob; Shri Sulay Lavsi – Founder, Bummer; Shri Bhupendra Madaan, Founder, Theka Coffee; Shri Rutvij Dasadia – Founder, Booz Mobility; Shri Kuldeep Singh Kaler, Motivational Speaker; Shri Himanshu Ghosh – Founder, Knownsense Studio; Shri Deepak Makwana, Founder, Biztea; Shri Saurabh Jain, Ex-Vice President, Paytm; Mr. Lou Van Noorden, Senior Expert, PUM Netherlands; Shri Mihir Joshi, CEO, GVFL and Shri Jeet V., CEO, MEITY Startup Hub.

Mansi Praharaj

January 17, 2023
Quote: Pre-Budget Expectations| Utkarsh Classes

-Dr. Nirmal Gehlot, CEO and Founder, Utkarsh Classes

“One of our main expectations from the union budget this year is the government sets up a central committee or a board that can tackle the cases of exam paper leaks, especially in government exams. We hope strict action is initiated to avoid any malpractice in these examinations. It destroys the efforts of millions of aspirants and wastes the time and resources of recruitment boards and state governments. We also hope that provisions are put in place to fill appointments in vacant posts in various government departments. We believe that the Finance Minister can announce the creation of an unemployment board at the union level: that will offer an agency for unemployed youth to voice the challenges/issues they face and find resolutions.”

Rekha Nair

January 17, 2023
Z3Partners announces final close of Fund at Rs 550 Crore

Mumbai, January 17, 2023: India’s market leader in tech and digital investing Z3Partners has announced its final close of its Fund at Rs 550 crore. The Fund will primarily invest in 8 – 10 early-growth, digital and tech startups with a ticket size of Rs. 50 – 80 crore ($6 – 10 million). Z3Partners has already made 5 investments – cybersecurity startup Cyfirma, social e-commerce firm DealShare, agri-tech platform Gramophone, SaaS-based logistics management leader Shipsy, and AI-led celebrity engagement platform True-Fan. DealShare, had also turned Unicorn in 2022 after its $165 million Series E financing round.

Leading global and domestic institutions and family offices have participated in the Fund, including HDFC Life and SIDBI. The existing investor base will look to add immense strategic value to Z3Partners’ portfolio of leading start-ups.

Z3Partners, works as an investor-operator, provides immense value to its portfolio companies. The Fund closely engages with founders to help them refine their GTM and makes customer introductions to accelerate growth. The Fund also lends support from time to time in helping its portfolio companies with digital and product marketing strategy, and developing and retaining senior talent. The DNA of the Fund is to not just provide growth capital but get down in the trenches with the founders to help them build a long-term sustainable and profitable business.

Founded in 2019 by Gautam Patel, a pioneer in digital & tech investing, having invested in Companies like Bigbasket, MedGenome, OfBusiness, Pepperfry, etc., Z3Partners are a groundbreaking early-growth stage investor-operator that invests across early-growth companies in Series A / B stage. The Fund’s core investment themes focus on SaaS, Fintech, eCommerce, B2B Commerce, Agritech, Big Data, Consumer-tech and all things Tech-enabled. With over 90 years of collective experience of investing and operating companies, including shaping companies into industry leaders, Z3Partners are true-pioneers in the Indian market.

Z3Partners also announces Rishi Maheshwari joining as Co-founder & Managing Partner. Rishi has over 18 years of investment management and investment banking experience across the U.S., India and Emerging Markets and has held several senior management and board positions in organisations locally and internationally.

Gautam Patel, Founder & Managing Partner says, “At Z3Partners, our vision is to identify the most disruptive and cutting edge startups and provide them with necessary support to grow into market leaders. The same philosophy is reflected across our LP based too, with market leaders like HDFC Life and SIDBI as our Fund investors; resulting in a final close well ahead of schedule. We are also delighted to welcome Rishi to Z3Partners. He and I invested in BigBasket together and are looking forward to building Z3Partners into the premium digital and tech investment platform of choice in India.”

Rishi Maheshwari, Co-founder & Managing Partner, says, “Through my time with Goldman Sachs in US, and private & public growth investing thereafter, I have had the privilege to build a strong understanding of, and supportive ecosystem across, both developed and emerging economies. Hence in my opinion, India continues to be an attractive investment destination coupled with the government’s focus on driving growth through digital transformation representing a unique and exciting time for venture investing. I am excited and look forward to working with Gautam in building Z3Partners into a world-class digital investment platform that backs the next generation of entrepreneurs.”

Neel Achary

January 17, 2023
T-Hub bags “Best Incubator in India” Award at National Startup Awards 2022.

India, 17 January 2023: T-Hub, which leads India’s pioneering innovation ecosystem, today won the “Best Incubator in India” award at the National Startup Awards 2022 on National Startup Day. T-Hub emerged as the winner in the category for its efforts to support the growth of the startup ecosystem in Telangana. The innovation hub was awarded in the presence of Shri Piyush Goyal, Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution & Textiles and Shri Som Prakash, Minister of State for Commerce and Industry.

T-Hub’s contribution to innovation, entrepreneurship and ecosystem development has been recognised at national level over 55 other participating incubators. T-Hub excelled in aspects, such as funding raised by startups, sector focus, strong market connects, partnerships and overall impact created in the startup ecosystem spanning across 2500+ startups. T-Hub’s startups have raised almost USD 1.9 billion with 3000+ strong market connects and the creation of 12000+ jobs since T-Hub’s inception. The level of impact that T-hub has achieved is unparalleled as compared to other incubators. T-Hub will be receiving support for its business growth, mentorship, funding, partnerships, market access opportunities and serve as a role model for other entrepreneurs.

Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government, said, “Governments typically don’t excel in this area, but by studying and meticulously learning from the best practices of others, T-Hub can become a national leader in the field. This is important for the entire country, as it can serve as a blueprint for other organizations to follow and create a more vibrant and successful startup ecosystem in the country. By setting an example of excellence, T-Hub is helping pave the way for a brighter future for entrepreneurs in the country.”

MSR, CEO, T-Hub, said “It is a tremendous honor to be bestowed with the prestigious ‘Best Incubator in India’ award at the National Startup Awards 2022. We are deeply grateful to the DPIIT, Ministry of Commerce, Ministry of Electronics and Information Technology, Government of Telangana, our esteemed entrepreneurs, and valued partners for their unwavering support of our vision. At T-Hub, we are committed to providing the highest standard of excellence and impact, and I am humbled to have played a role in elevating the startup ecosystem. We will continue to drive collaboration between startups and leading innovation ecosystems worldwide and provide unparalleled global market-access opportunities to our startups.

At T-Hub, we uphold the highest service of excellence and impact, and I am grateful for the opportunity to play my part in uplifting the startup ecosystem. T-Hub will continue to drive the collaboration between startups and leading innovation ecosystems worldwide and provide global market-access opportunities to startups.”

The third edition of awards, National Startup Awards 2022 recognised outstanding startups and enablers, which have demonstrated exceptional capabilities not only in terms of financial gains, but also for the measurable impact on the society. The National Startup Awards 2022 invited applications across 17 sectors, which were further divided into 50 sub sectors, and seven special categories.

Neel Achary

January 17, 2023
IT Company Results & its impact on hiring – Quote by NLB Services

“The IT sector has been witnessing a slowdown in hiring for over 6 months, and the last quarter’s results echo the same sentiments. Every year the 3rd quarter is slow for hiring due to the holiday season, and the impact on hiring due to geopolitical scenarios, impending recession and cost conservation by companies is expected to continue for the next few months. Despite the headwinds, a few domains like Blockchain, Cybersecurity, DevOps, and Cloud Computing will continue to be in demand owing to new deal wins declared by IT majors in the recent results. These skills will also witness an increased demand in non-tech sectors like Telecom, BFSI, and Healthcare. Furthermore, skills like Big data analytics, Data Science, AI & ML, and Cloud Computing will require more professionals to address 5G adoption demands across segments. Despite the muted quarter, we expect campus hiring to continue with nearly 15000 – 50000 new hires by IT majors in 2023. Attrition will continue to decline due to a lateral hiring freeze.” – Sachin Alug, CEO, NLB Services (A Global Technology & Digital Talent Solutions) company

Rekha Nair

January 17, 2023
Financial condition expected to be tighter: CRISIL Ltd

RBI hikes repo rate by 35 basis points to 6.25%, expects inflation to remain high

Even as central banks are expected to slow their pace of rate hikes in 2023, financial conditions are expected to remain tight, said CRISIL Ltd on Monday.

In a report, the credit rating agency said the financial conditions are expected to be tight due to the US Fed’s policy rates at a decadal high in 2023 despite the looming recession. S&P Global expects the Fed policy rate to peak at 5-5.25 per cent in April-June 2023, with rate cuts only towards the end of the year.

The US Fed’s policy rate remaining higher than in the past decade will keep global financial conditions tight and maintain pressure on capital flows.

That apart, the real repo rate will be on a rising trend, as inflation continues to moderate. The Reserve Bank of India (RBI) is expected to remain wary of easing its policy stance in its upcoming policy meeting, given that core inflation remains sticky, CRISIL said.

Liquidity conditions will also not return to surplus as seen in the pandemic years, which will maintain fundamental pressure on domestic interest rates.

Financial condition expected to be tighter: CRISIL LtdIANS

Thirdly, borrowing costs for the broader economy will continue to rise, given the pending transmission of the RBI’s rate hikes. This is likely to have some impact on the growth prospects of the Indian economy in the next fiscal as well.

According to CRISIL, the transmission of the RBI’s rate hikes is still in progress, leading to a steady rise in bank lending and deposit rates. Key bank lending rates reached close to the pre-pandemic five year average in December. Credit growth moderated, albeit remaining at a decadal high.

Since the start of the RBI’s rate hike cycle, the repo rate has increased 225 basis points (bps), while housing loan rates have increased 218 bps, auto loan rates 155 bps, and deposit rates 133 bps, CRISIL said.

According to CRISIL, domestic financial conditions were broadly stable in December 2022 relative to the previous month, as per its Financial Conditions Index (FCI) shows. The FCI value printed -0.1 in December, same as the previous month.

A negative value suggests that financial conditions are marginally tight compared with the long-term average (since 2010), but a mild negative number suggests the index is in the comfort zone.

Broadly, global cues contributed to easing of financial conditions, while domestic cues lent tightness. Falling international crude oil prices and easing dollar index augured well for Indian debt and equity markets, CRISIL said.

(WIth inputs from IANS)

January 16, 2023
Genpact’s CEO Tiger Tyagarajan Recognized for Making Steady Progress in Advancing Gender Diversity in Leadership

As part of Catalyst CEO Champions For Change, for the sixth year in a row, Genpact continues to outperform global peers in its commitment to foster a diverse, inclusive, and equitable workplace for women

NEW DELHI, January 16, 2023 – Tiger Tyagarajan, chief executive officer of Genpact, a global professional services firm focused on delivering outcomes that transform businesses, has been recognized by Catalyst, a global non-profit organization helping companies build workplaces that work for women, for Genpact’s continued advancement of gender diversity in the workplace.

“We know that what gets measured gets managed,” said Catalyst President & CEO Lorraine Hariton. “We applaud Tiger Tyagarajan and Genpact along with the other Catalyst Champion CEOs for prioritizing and driving equity with methodical measurement and transparency.”

The Catalyst CEO Champions For Change companies represent more than 11 million employees and over $3 trillion in revenue globally. The Catalyst report, Aligning Actions to Values: Catalyst CEO Champions for Change, found that these companies are leading the way in three key areas:

Pay Equity: The vast majority of Champion companies (82%) have conducted at least one pay equity review within the last three years—a higher proportion than found in other studies—indicating that they are models for other organizations to follow.
Representation: Champion companies are ahead of the Fortune 500 overall in women’s board representation (35% compared to 27%), including the representation of women from marginalized racial and ethnic groups (8% compared to 6%).
Board Accountability: Over two-thirds (69%) of Champion company boards of directors assess pay equity progress and/or findings, and many influence and oversee diversity, equity and inclusion work more broadly across their organizations, demonstrating accountability and a commitment to fair and equitable business practices at the highest level.

“We must focus on building a purpose-driven culture that recognizes we are all better together,” said Tiger Tyagarajan, chief executive officer, Genpact. “To materially move the needle on diversity, equity, and inclusion, it is critical to ensure that it is inextricably linked to a company’s purpose and business strategies. At Genpact, we are committed to ensuring that we get to our vision of 50% women’s representation at all levels of the company and we’re continuously leveraging data to check our progress systematically.”

Tiger serves on the board of directors at Catalyst, and is a founding supporter of the U.S. chapter of the 30% Club, a global campaign focused on increasing gender diversity at board and executive-committee levels. Genpact has been deeply committed to advancing women at every level all the way through the executive ranks. With 42 percent of the company’s current workforce made up of women, Genpact continues to make strides towards its vision of being 50 percent gender diverse.

Genpact’s commitment to fostering a diverse and equitable environment for women includes a broad range of ongoing programs designed to attract, develop, and train them at every stage of their careers. This includes a Women’s Leadership Program, created in collaboration with Korn Ferry to build a pipeline of future women leaders; a cross-company mentorship program in association with the 30% Club; a Women in Genpact network to serve as an employee resource group; and a Pay-it-Forward social initiative to encourage leaders to sponsor women proteges and provide support during their professional journey, among other initiatives.

See the full Catalyst CEO Champions of change report for 2023, here [

Neel Achary

January 16, 2023
Cocoberry launches its 2nd store in Kolkata

New Delhi, January 16th, 2023: Cocoberry, India’s biggest frozen yogurt brand, opens a new store in Kolkata. The newly established outlet is located on Purna Das Road, with the purpose of attracting customers from the town region and neighboring, heavily populated areas.

Laksh Yadav, CEO of Cocoberry, said of the launch. “This is only the beginning. Cocoberry is rapidly expanding in Kolkata, and the brand is aiming to expand further across India. I am really pleased with Cocoberry’s accomplishments and milestones, which would not have been possible without a team like ours. “I wish everyone the best of luck, and we’re in Kolkata with a bang.”

The pandemic presented a challenge, but Cocoberry rose to the occasion, proving to be resilient and starting up where they had left off. They believe in spreading happiness throughout the world one frozen yogurt cup at a time.

Cocoberry is targeting a healthy community, like families, college-goers, and young adults. They also provide home deliveries as well. Cocoberry makes a product that is liked by people of all age groups as it is both healthy and tasty. The products are delicious with a wide range of froyo flavors, and the number of toppings ensures that the combinations are limitless. Fruity flavors such as mango, and green apple, and berries such as blueberry, blackberry, cranberry, raspberry, and strawberry are among them.

They also offer customized smoothies as a healthy beverage option and parfaits that contain yogurt, real fruit, and cereal, which makes it a healthy and tasty meal, along with yogurt-coated energy bars and herbal drinks. The most sellable of all are mango and blueberry. The most interesting part is that here the vanilla flavor is sugar-free and can be consumed even by diabetic people.

Cocoberry strives to make its store a family-friendly environment, with an emphasis on families, college students, young people, and children.

Sujata

January 16, 2023
IIM Kashipur & KDF to Jointly Organise Kashipur Marathon on 5 Feb 2023

Indian Institute of Management Kashipur and Kashipur Development Forum (KDF) will jointly organise Kashipur Marathon 2023 on 5 February 2023 in Kashipur. The event is being conducted after a long gap and hence the scale is expected to be the biggest of all the previous editions.

IIM Kashipur organised a press conference on campus today to inform the media about the same. The meeting was attended by officials from KDF as well as IIM Kashipur. Speaking to the media, Mr. Rajeev Ghai, President, KDF said that the event is being planned on a massive scale and all stakeholders involved are being roped in so that the event becomes a grand success going forward. He also said that through this event Kashipur city will get a lot of positive publicity as per the theme of the event ‘Vibrant City’.

The marathon is being organised in 2 categories of 3 km and 21 km and in both male and female categories awards are being given with the 1st prize of Rs. 2 lakhs, 2nd prize of Rs. 1 lakh, and 3rd prize of Rs. 50,000 in both categories. The event is aimed to invite runners from across the state, national, and as well as international levels and make everyone feel the energy, beauty, and enthusiasm of Kashipur city, Uttarakhand state, and its people.

Sujata

January 16, 2023
Reach 3 Roads welcomes First Cry

January 2023, Gurugram: Reach Group, one of India’s leading retail conglomerates, is glad to welcome FirstCry to its premises. FirstCry opened its store on January 8 th , 2023 at Reach 3 Roads. Located strategically in Sector 70, Gurugram at Reach 3 Roads, parents will have easy access to the store offering the widest range of babies’ and kids’ products. The store is spread across an area of 3000 square feet on the first floor with the road-side store facing front covering an area of 35 feet. Over time FirstCry has already turned into the first choice among young parents as it caters exclusively to the needs of babies, kids, and their moms. FirstCry is Asia’s No 1 online baby care portal with strong brand visibility within the virtual space along with more than 180 offline stores. With 200,000 plus products ranging from 2000+ national and international brands under its belt.FirstCry has already partnered with brands like Pigeon, Farlin, Mattel, Pampers, Disney, and others. The brand has also introduced the concept of kiosk boxes that are gifted to new mothers in collaboration with hospitals. Such efforts have not only increased footfall at the physical stores but also helped raise four rounds of fundraising from investors like Saif Partners, Valiant Capital Partner, and IDG Ventures India. They also have one price strategy for both online and offline customers. Ms. Nandini Taneja, Vice President, of Reach Group said, “Reach Group has seen huge growth last year and we continue to do so by welcoming First Cry, which is a great partner as they value parents’ myriad needs and always strive to fulfill them. It drives an integrated marketing strategy between online, mobile, and offline stores which is very helpful for our customers. We will continue to grow in the upcoming months with more stores in the pipeline.” Reach 3Roads accommodates day-to-day essentials required for the neighborhood offering them a one-stop shop for all their needs with Brands like Croma, Hdfc, Sodhi’s Supermarket, Looks, Monsoon Salon, Ankino’s Pet Store, and many more. Reach 3 Roads is well known for its service level standards, marketing, brands present, and the right positioning.

Sujata

January 16, 2023