Category Archives: Business & Economy

ISB launches fifth edition of iDiya, a social venture competition

Arts, Culture & Entertainment, Business & Economy
Students participating in the launch of the fifth iDiya Challenge Social venture Competition at the Indian School of Business in Hyderabad on Friday. | Neeraj Murali
Students participating in the launch of the fifth iDiya Challenge Social venture Competition at the Indian School of Business in Hyderabad on Friday. | Neeraj Murali

The Indian School of Business (ISB) on Friday launched the fifth edition of iDiya – a social venture competition, which is an initiative by the prestigious school’s students. The annual competition, which is a national-level platform for budding entrepreneurs, promotes and funds innovative social venture ideas in India.

The social venture ideas might be in the areas of health, education, environment or women empowerment.

The chief guest, MN Rao, former MD and CEO of Tata Business Services Ltd, launched the registration process for the competition. He said that iDiya was a unique competition which would inspire aspiring  entrepreneurs to address social issues through their business models.

The participants will be judged on the basis of innovativeness of the idea, the social problem the idea is addressing and the sustainability of the business model.

Background of the participants will also be considered. 125 teams participated in the competition last year.

The registration fees for the competition is Rs 1000. The last date for applying to the competition, which is open to all working professionals and early-stage entrepreneurs, is September 15. The top 10 shortlisted teams will get to attend a boot camp in which industry experts will educate the teams on creating a sustainable business

model which will help the underprivileged section of society and how to benefit from their business models. The teams can also meet venture capitalists in the boot camp.

The winners of the competition will get a cash reward of Rs 2 lakh, runner-ups will get Rs. 1 lakh and there are cash prizes for further runner-ups also. Apart from this, 50 selected teams will get feedback on their business models from industry experts.

Abdul Lateef, winner of the 3rd iDiya competition, whose Mobile Science Lab promotes science education among students of 8-12 grade said,”ISB and iDiya provided me with the network which is helping my business and have also mentored our business model for the past two years.”

Sanju Kumar, founder of Kisan School which provides farmers with critical information using mobile phone technology, said,”Though I knew what to do, I got to know about how to present a business model and shape its plan after attending iDiya’s boot camp”.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service – Hyderabad / July 27th, 2013

How McKinsey plans to transform Andhra Bank’s business

Business & Economy

Hyderabad:

Public sector Andhra Bank has appointed international consulting firm McKinsey to suggest ways for strategic business transformation to meet the growing customer demands.

B A Prabhakar, chairman and managing director, Andhra Bank, in his address at the Annual General Meeting of shareholders yesterday said the bank has taken up an initiative – NavShakti – to enhance the productivity and also deliver value to customers.

He also said that despite economic challenges and an uncertainty, the public sector lender is expected to grow at 15 per cent during the current financial year.

“Bank has taken up a strategic business transformation initiative ‘NavShakti’ with the assistance of leading consulting firm McKinsey to rejuvenate the business process to meet the discerning demands of the customers,” Prabhakar said. “As part of the project, a thorough business re-engineering of the present processes, is taken up to enhance productivity and also deliver value to the customers,” he added.

New generation branch models are designed to calibrate delightful business experience for customers, he said.

Talking about macroeconomic conditions, the banker said the challenge for the city-based bank would be to maintain a healthy asset profile in the wake of subdued growth of the economy. “Notwithstanding the uncertainties in the economic environment, your bank will continue to grow its business sustainability in FY’14. I am confident that the bank’s business will grow by about 15 per cent in FY’14,” Prabhakar said.

He said the steps taken by the government in clearing the bottlenecks in investments and also the policy measures taken to improve FDI flows should put India on upward growth trajectory. For the full year ended March 31, 2013, total income of the bank stood at Rs 13,957 crore against Rs 12,199 crore in 2011-12.

In FY’13, the net profit dipped to Rs 1,289 crore against Rs 1,345 crore in FY’12. Prabhakar had earlier said the last year was stressful for the overall business growth.

source: http://www.firstpost.com / FirstPost. / Firstpost> FWire /by PTI / July 24th, 2013

Hyderabad’s aviation expert becomes first Assistant Chief of Naval Staff

Business & Economy, Leaders, Science & Technology

Hyderabad :

As the Indian Navy rapidly spreads its wings into air as well and makes further forays into the Blue Water, Rear Admiral SrinivasKanugo, hailing from Hyderabad, assumed office as Assistant Chief of Naval Staff (Air Materiel) [ACNS(AM)] at the Integrated Headquarters MoD (Navy). He will be the first Flag Officer in this new office.

Speaking to STOI exclusively over phone, Rear Admiral Kanugo recalled his growing up days in Hyderabad and schooling in many places in the state including a local government school and in Nagarjunasagar. Retracing his college days in JNTU College of Engineering in Anantapur, he spoke of his selection to Indian Navy’s University Entry Scheme wherein his final year fee was paid by the Indian Navy. “Way back in 1981, being commissioned into Indian Navy was a dream come true and then I opted for the aviation stream of the Indian Navy (the other two being submarine and ships)”, he said, adding that thereafter, the electronics graduate became an avid aviation enthusiast by being trained in the finer nuances of the subject.

According to Kanugo, the air arm of the Indian Navy is growing at a fast pace and that the Navy is not restricted to just being a Green Water Navy. Green Water Navy means the fleet comprises only battleships while Blue Water Navy includes possession of aircraft as well. The post in which Rear Admiral Srinivas Kanugo has assumed office has been created with a single point responsibility for all matters related to aviation technical management of the burgeoning air arm of the Indian Navy. The ACNS (AM) will be responsible for planning and co-ordination of new induction air equipment and systems, repair and overhaul of all existing aircraft, aero engines and associated equipment and systems as well as provisioning of air stores. The officer was awarded Vishist Sewa Medal (VSM) in 2013 for his outstanding contribution to the Indian Navy.

The air arm of the Indian Navy operates over 200 aircraft with over 20 different types including fighters, fixed wing Maritime Reconnaissance aircraft, helicopters and Unmanned Aerial Vehicles. The air arm, which recently marked its Diamond Jubilee, is on the anvil of transformation in capability and size with the induction of potent platforms such as the MiG 29K and Boeing  P 8I and the planned induction of a large number of helicopters. Naval aviation is also seeing attendant needs for growth in infrastructure with addition of new air stations like INS Parundu in Ramnathapuram, INS Baaz in Campbell Bay and multiple air enclaves across the country.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Hyderabad> Indian Navy / TNN / July 21st, 2013

Brands rule the roost

Business & Economy

Furniture brand Khazana continues its expansion spree with the inauguration of another showroom at Telecom Nagar, Gachibowli on Friday.

The luxe brand brings exquisite furniture, modular kitchens and wardrobes to Hyderabad. The 18,000 square foot showroom features a range of furniture including bed sets, plush sofas, wardrobes and dining space designed in modern and contemporary style.

The outlet also houses accessories such as cushions, vases and crockery sets. Customers can check out the collection at Khazana which retails names including Milmueble from Spain, Maxdivani from Italy, global brand City W and Cozzini kitchens and wardrobes from Germany.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express Features – Hyderabad / July 20th, 2013

Andhra to invest Rs 1,000 cr in tourism

Business & Economy

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Will take up projects through the PPP mode in Hyderabad, Visakhapatnam, Guntur

The Andhra Pradesh Tourism Department Corporation (APTDC) would take up projects worth Rs 1,000-crore through the PPP mode in Hyderabad, Visakhapatnam, Guntur.

“We want to focus on Vizag and Hyderabad. We have already called for bidders from across the globe for these projects, “said V Madhusudan, executive director, APTDC. Of these, five are coming up at Visakhapatnam. The projects include an aquarium, theme park, health city and science city at Vizag,

He said domestic tourist arrivals  into the state had increased by about five per cent to 159 million in 2012, while revenues of APTDC rose to Rs 225-crore .

“Our target is to increase the tourist inflows by around 10 per cent and set Rs 300 crore turnover for the corporation,” he said.

source: http://www.business-standard.com / Business Standard / Home> Economy & Policy> News / by TE Narasimhan / Chennai – July 16th, 2013

YNew to expand services in used gadgets

Business & Economy

The company has earmarked Rs 2.5 crore for exploring opportunities in the organised used products services

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YNew , which deals into used and refurbished lifestyle gadgets , plans to open 50 franchise stores pan-India by 2016. Under this, it would roll out four stores in Hyderabad in the current financial year, said Dashradh Ram Nutakki, its founder.

The company has earmarked Rs 2.5 crore for exploring opportunities in the organised used products services. It had launched a pilot store here with an investment of Rs 20 lakh in April.

YNew, which Nutakki said was a first-of-its-kind initiative, facilitates sale and buy of smart phones, tablets, laptops, desktops and televisions through its physical platform. The products put on sale usually undergo a process of internal testing and certification, involving 13 checks.

For its services to sellers, YNew charges commission in the range of 5-12 per cent, depending on the ask price of the products. It arrives at the ask price by examining cosmetic damages, working condition and the prevailing demand. Nutakki said, “YNew plans to establish presence in a location that has 100 stores transacting in lifestyle products.”

The venture, promoted by Hyderabad-headquartered Sloyd Ventures  Private Ltd, was essentially launched to cater to the needs of individuals. However, it is also witnessing good traction from refurbishers, according to Nutakki.  It also recently started on-call repairs and refurbishments service.

source: htp://www.business-standard.com / Business Standard / Home> Companies> News  /  by BS Reporter / Hyderabad, Wednesday – July 21st, 2013

Ramky in discussions to acquire Australian company

Business & Economy, Science & Technology, World Opinion

Acquisition to provide Ramky access to high quality technology in the field of environment

Ramky Cleantech Services Pte Limited of Singapore, a wholly-owned subsidiary of  Hyderabad-based waste management company Ramky Enviro Engineers Limited (REEL), is eyeing to acquire an Australian environmental engineering and petrochemical services provider – Enviropacific Services.

“It will take time,” Ramky group chairman and managing director, Ayodhya Rami Reddy, who is currently in Singapore, told Business Standard confirming that discussions were being held.

Standard Chartered and IL&FS Investment Managers are private equity partners in REEL, a company belonging to the Rs 4,500-crore Ramky group.

According to Ramky Infrastructure executive director M Gautham Reddy, it might take 3-4 months to finalise the deal. Though the value of acquisition is yet to be finalised, it is expected to be less than $40 million.

He said acquisition of the Australian company would not only result in synergy of operations but also provide Ramky access to high quality technology in the field of  environment .

The Ramky group is a multi-disciplinary organisation with focus on the areas of civil, environmental and waste management infrastructure.

source: http://www.business-standard.com / Business Standard / Home> Companies> News / by Prashanth Reddy Chintala / Hyderabad – July 23rd, 2013

Keste doubles its headcount at India Development Centre

Business & Economy, Science & Technology, World Opinion

keste200Hf31jul2013

Hyderabad:

Keste, the US-based Oracle software solutions and development company, has doubled its headcount at India Development Centre (IDC) here during the last 12 months.

With 120 employees at the IDC located at Hitech City here, the company continues to hire the best talent and has plans to expand its footprint in India to help service the Asia pacific region.

“During the last quarter, we’ve seen significant growth in our business servicing the high-tech, communications, manufacturing and life sciences markets in the region. The region offers huge growth potential for us and we are confident we will be able to maintain our growth,” CEO Howard Moore said in a statement released here Monday.

He said Keste was expanding its operations in India to meet the demands of customers in India and the Asia Pacific.

“This is part of our continuing effort to invest in the India market. A year ago we committed to doubling our headcount in 15 months. I’m very pleased that our growth and investment activity is significantly ahead of schedule,” said Ken Judd, CFO.

Keste provides enterprise solutions in areas, including customer experience, cloud integration and mobility. With hundreds of successful implementations and experience across the full Oracle stack of applications, middleware and hardware, Keste is able to deliver solutions that bring real business value and accelerate enterprise business strategy, added the statement.

IANS

source: http://www.zeenews.india.com / Zeebiz.com / Home> Business> Technology / by IANS / Monday – July 26th, 2013

Biological E’s Japanese encephalitis vaccine prequalified by WHO

Business & Economy, Records, All, Science & Technology, World Opinion

Hyderabad :

Homegrown biopharmaceutical company Biological E (BioE) and European biotech company Valneva SE (Valneva) announced that the  World Health Organization (WHO) has awarded its Japanese Encephalitis vaccine  prequalification for global use in adults.

Biological E and Valneva had established a partnership in 2005 for the development and commercialization of a Japanese encephalitis vaccine for endemic regions, based on Valneva’s JEV technology. The vaccine, which was successfully developed under this partnership, is being marketed in India under the trade-name JEEV and its commercialization in other JE-endemic countries is being planned.

BioE said that it expects its pediatric indication to be prequalified by the end of the year.

“This is the first prequalification of a Japanese Encephalitis vaccine and is a key step in ensuring the vaccine can be distributed to developing countries,” the company release said.

Commenting on the development, Biological E Limited managing director Mahima Datla said, “We are happy that our JE vaccine is the first ever WHO prequalified JE vaccine. It is an extremely important achievement for the vaccines community as our vaccine’s prequalification is well in time to support GAVI’s plans of introducing the JE vaccine in several developing countries.”

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> Business> India Business / by Swati Rathor, TNN / July 23rd, 2013

Google India initiative to help women entrepreneurs connect

Business & Economy, Science & Technology

Mumbai : 

Rupa Aurangabadkar, the owner of Hyderabad-based design house Colourquill, was in a quandary. She wanted to show some patrons how to make murals on walls. Though an expert in design, the self-professed interior stylist did not know how to reach a wider audience.

“Making murals is a unique thing. I wanted to create a video of every step, right from the paper work, assembling it, to the actual mural on the wall,” she said.

Scouting for an opportunity to put her work up for the world, she chanced upon Google’s Women Entrepreneurs on the Web programme, a business diversity programme for women entrepreneurs. Rupa is now working on a series of digital videos that will showcase each step of creating a mural and beam it to the whole world.

Google’s efforts to get women entrepreneurs on the Web appears to have caught the fancy of several housewives like Archana Doshi from Bangalore, who has made a business out of a simple blog, sharing the recipes of her mother to a wider audience. Meghana Musunuri, who opened the Fountainhead School in Hyderabad, needed guidance on how to use the Web to broaden her business and her education mission. A similar situation arose for Dr Evita from Fernandez Hospital in Hyderabad. “Getting online and being in touch makes a lot of difference to your work at the hospital. For, one can reach out to several people and put the services that you offer on the web,” she said.

These women are among the 2,000 women entrepreneurs who have signed up for Google’s programme.

A study conducted by Google India last year revealed that a large number of women entrepreneurs did not have an online presence, and were completely unaware of various products and services that could be used to leverage the full potential of the Internet. This led the company to crystallise the idea into a programme to increase the reach of technology with this community.

As Keerthana Mohan, Diversity Manager, Google India, told Business Line, “India has one of the largest numbers of women entrepreneurs across the world, at around 1.3 million, which makes it a perfect place for us to pilot the initiative.”

Aimed at providing a springboard for women entrepreneurs, the initiative was started as a pilot in India last year. Workshops are conducted to drive home the point that e-commerce has the potential to provide Indian businesswomen a flexible platform to overcome traditional male-dominated boundaries, and explore business prospects beyond conventional channels.

source: http://www.thehindubusinessline.com / Business Line / Home> Industry> Info-Tech / by Amrita Nair-Ghaswala  amritanair.ghaswala@thehindu.co.in / Mumbai – July 16th, 2013