ISB celebrates graduation day for PGP and PGPMAX

Business & Economy, Education

Hyderabad, April 7, 2012:

The Indian School of Business (ISB) today celebrated the Graduation Day of its 11th Graduating Class of the Post Graduate Programme in Management, Class of 2012. The day also marked the Graduation of the Founding Class of the Post Graduate Programme in Management for Senior Executives (PGPMAX) at the ISB. The Chief Guest for the occasion was Raghuram Rajan, Eric J. Gleacher Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business and honorary Economic Advisor to the Prime Minister of India. Also, gracing the occasion were Adi Godrej, Chairman of the Board of Directors, ISB, Ajit Rangnekar, Dean, ISB, members of the ISB Executive Board, faculty and several business leaders.

The eagerly awaited day marked the culmination of a phase of learning, fun and personal development for the Class of 2012 and the Founding Class of PGPMAX. The ceremony commenced with the Graduation Procession led by Ajit Rangnekar, Dean, ISB. Rows of students dressed in their traditional graduation regalia sat together soaking in the words of wisdom from the esteemed guests. The Chief Guest Raghuram Rajan addressed the gathering and awarded Graduation Certificates to the 574 students of PGP and 57 students of the PGPMAX. Pride and joy reflected the mood for the evening as the families and friends of the students cheered them as they went onstage to receive their graduation certificates.

PGP Class of 2012 – Notable Achievements

Award winners

Every year, the ISB awards meritorious students by presenting them special awards. This year the school presented the ‘ISB Scholar of Excellence’ award to Himanshu Jain and Vamshidhar Reddy Gapal, in recognition of their demonstrated record of outstanding academic achievement throughout the programme. Santosh Mohanram was awarded the ‘Chairman’s Award for Excellence in Leadership’ for displaying exceptional all-round abilities. He also won the prestigious ‘Global Student Leadership Award’ awarded by the Graduate Business Forum (GBF) at New York. He was selected from among nominees of the 50 top B schools across the world.

Joining these achievers were 58 students who made it to the Dean’s list comprising of the top 10% of the class and 69 students were awarded with the ISB Young Leaders and Torch Bearer awards. Two faculty members were honoured as ‘Professors of the Year’ for excellence in teaching – Professor Prashant Kale as the “Professor of the Year for Core Courses’ and Professor Arun Pereira as the “Professor of the Year for Elective Courses.”

Year of intense activity and accomplishment

The Class of 2012 built on the wonderful tradition over the years of growing the richness of the programme through their fresh thinking and new initiatives. The Co2012 demonstrated leadership in thought and action throughout the year as they hosted over 13 conferences, consulted over 60 companies as part of the Experiential Learning Programme (ELP), participated in over 43 competitions, domestic and global and hosted 200+ CxO’s through various initiatives during the year. Some of the other interesting initiatives include –

  • ‘Pathshala’ – Students took on the role of tutors and held knowledge sharing sessions for the entire class to get an insight and understand best practices of the sectors where they had prior work experience.
  • ‘Diffusion’ – A workshop to train NGO staff to increase their knowledge of business and management skills in Patna and Hyderabad.
  • ‘ISB Sustainability’ – An initiative to make the campus environment friendly in line with global standards.
  • ‘ISB Wiki’ – An initiative that will act as a guiding tool for all the future incoming students to understand the school, its philosophy, people and the practices associated with it.

Class Gift

In line with the students’ tradition of giving back to the school, the PGP Class of 2012 gifted the school an amount of Rs 45 Lacs, which is being used towards the refurbishment of a state-of-the-art badminton and basketball courts, and upgrading the football ground, in the school. Founding Class of PGPMAX – Notable Achievements

Award winners

The Founding Class of PGPMAX had its own share of outstanding achievers. Rajiv Bajaj, PGPMAX student and Managing Director, India – Hollingsworth & Vose India Pvt Ltd was awarded the ‘Scholar of Excellence’ for topping the programme. He was joined by 5 other students who made it to the Dean’s List of outstanding performers. In a record of sorts, Professor Prashant Kale was also awarded the ‘Professor of the Year Award’ by the PGPMAX students. Life after ISB

Students of the Founding Class of PGPMAX have already demonstrated great success in their careers and have been contributing to their organizations with increased effectiveness. Several of them have moved into leaderships positions including that of CEO’s and COO’s. The entrepreneurs have also shown remarkable results as they either scaled or expanded their businesses further. PGPMAX also served as an ideation platform for the launch of four new ventures – a medical devices company, a construction company, a software company and a new executive search firm. ISB Global Alumni Network

With the graduation of the 11th Class of the PGP and the Founding Class of PGPMAX, the ISB brand is now represented by a 4200+ strong alumni network which is spread across 25 countries. This is further strengthened by 13000+ alumni of the Executive Educational programmes over the decade. The school also has over 150 alumni entrepreneurs in various sectors and a large number of alumni who are involved in their family businesses. The school is committed to providing a platform for the continuous development of its alumni through life-long learning programmes, career development and support. 2012-13 – Hyderabad & Mohali

Continuing its journey of successes, the ISB now enters its second phase of growth with the setting up of the Mohali campus. On April 14, 2012, the school will welcome the ~770 students of the Class of 2013 of the PGP, which will be delivered concurrently at two locations – Hyderabad (~560 students) and Mohali (~210 students). The school will function as one unified entity with a seamless integration across two campuses.

Quote Sheet

Ajit Rangnekar

“As all of you go forth into the real world outside, I hope you will remember what we have always exhorted you to do, and that is to always be responsible in your thoughts and, deeds. All of you have been brought up in good families and know what good and responsible behavior is. I hope we have added to that upbringing. I am sure that at all times, each one of you will act to the highest standards of ethical and moral values. That, more than anything else, will make your family and us proud.

Adi Godrej

“Leadership is about doing the tough things which need to be done and no one else wants to do, not just the popular ones. It is about telling the truth about how things are, not what people want to hear. A leader needs to think the future backwards, not the present forwards. He or she must have a clear vision of the future and then plan how to achieve it backwards through full involvement of his or her team.”

“Leadership development through constant exposure to new ideas is important. Your education is not over once you step out of business school. A critical factor of success is your ability to continuously learn and adapt to changes in your environment. How you do things is more important than what you do. Doing things right is more important than doing just the right” Raghuram Rajan

“The achievement of narrow personal goals — greater wealth, rapid promotion, or increasing renown – rarely brings you anything other than brief pleasure. I don’t claim to know the secret of happiness, but this seems obvious – if you like the journey, if you get pleasure from the work you do, it matters far less when, or indeed whether, you reach your destination. You have far more control over the journey you choose.”

source: http://www.isb.edu / Hyderabad, April 07th, 2012

Vizag boy competes in British GT

Records, All, Sports

Sailesh Bolisetti of Visakhapatnam (Andhra Pradesh) who will be competing in the British GT motor racing championship in April this year. / The Hindu

Sailesh Bolisetti makes history by becoming the first-ever Indian to do so

History will be made when Sailesh Bolisetti from Visakhapatnam makes his debut in the demanding British GT debut with the Lotus Sport UK team this weekend (April 7 to 9) to become the first-ever Indian to do so. “Its a dream come true,” he exclaims before leaving for London.

YOUNG CHAMPION

“I wish to perform to my best despite my limited experience. There are no shortcuts in the learning curve. I also want to absorb as much information as possible from my team, including my experienced teammates,” the young champion saloon car racer says.

The seven-round 2012 season of the premier British Sportscar championship is said to be one of the most fiercely competitive in recent times, thanks to a strong 35-car grid featuring several manufacturer-backed entries.

The 23-year-old engineering graduate from Andhra University will be piloting the Lotus Evora in the GT4 category.

“Evora was a completely different beast compared to anything else I had driven before. Having raced front-wheel drive cars throughout my career, I had to make considerable changes to my driving style to adapt to the 360 bhp race car,” he explains.

“I was reasonably comfortable with its behaviour and am looking forward to carry the momentum into my first race weekend,” he states.

“To me, long, endurance-style racing appeals more than the 30-minute sprints,” says Sailesh, who is in his second year in international racing.

“I will be pushing hard from the very first practice session. In endurance racing, if a driver doesn’t perform at high-levels, it ends up dragging the whole team down even if everyone else is doing their best,” he explains.

POINTS SYSTEM

Sailesh said that the British GT points system was similar to the one employed in Formula 1 – 25 points to the winner all the way to a solitary point for the 10th placed finisher.

“I take this as a huge opportunity to realise my dream of making a mark in big-time racing,” Sailesh concludes.

source: http://www.TheHindu.com / News> Cities> Hyderabad / by V.V.Subrahmanyam / Hyderabad, April 06th, 2012

 

Rajiv Gandhi International Airport bags ISO certification

Business & Economy, Records, All

Hyderabad:

Adding another feather to its cap, the GMR Hyderabad InternationalAirportLtd’s (GHIAL) Rajiv Gandhi International Airport (RGIA) has bagged the ISO 14064 -1: 2006 certification for its Greenhouse Gas (GHG) inventory.

RGIA is the second airport in India, after Mumbai, and the third in Asia to have achieved this feat, that indicates the airport’s commitment towardsenvironmental issues. The audit of its GHG, which includes both Greenhousegas emissions and removals, was conducted by M/S Bureau Veritas that submitted its independent report on March 31.

The verification of GHG inventories will help the airport in reducing its carbon intensity, which is carbon footprint per passenger or per ton of cargo handled, cost of energy and meet the GHG accounting international norms in the aviation sector.

source: http://www.Spotlyt.com / Home> Business News / April 03rd, 2012

Kuwait Cricket Felicitates Senior Cricketers

Sports, Uncategorized

Ex-Players Honored With Lifetime Achievement Awards

Mohammed Yahya (Right), Receiving The Life Time Achievement Award From Asad Baig.

Kuwait City, April 3:

In commemoration of Kuwait National & Liberation day 2012, Kuwait Cricket, in a memorable & praiseworthy gesture took the initiative to honor and felicitate some senior cricketers in Kuwait by honoring them with Lifetime achievement awards. In fact, it was a reunion of many cricketers of the past & present, along with new generation players, especially the Kuwait National Under 19 women’s team. The gathering of players was quite emotional as they shared the fond memories of the past. These players are known for their passion, dedication and wonderful contribution to the sport of cricket and have always been emotionally attached to the cause of upliftment of cricket & sportsmanship.

The evening was memorable and it started with the address of Irfan Adil who briefed the crowd about Kuwait Cricket’s noble intension of honoring cricketers of the past. Asad Baig, Director General, Kuwait Cricket was the chief guest on this occasion and Lifetime achievement mementos were handed over to Andrew Pinho , Bader Muneer, Kazim Hussein, Mohammed Yahya, Arif Hussein and Chris Amarasekara. In his short message, Asad Baig, Director General, Kuwait Cricket praised the invaluable services rendered by these veteran cricketers and urged them to play role models for the younger generation and to inspire them with positive advises and to share their cricketing experience.

Mohammed Yahya
Currently, Mohammed Yahya is the senior most cricketer residing in Kuwait who had the distinction to play first class cricket in Pakistan in the Qaide Azam trophy where he had brushed his talents against the famous Pakistani cricketers to the likes of Intikab Alam, Mustaq Mohammed, Hanif Mohammed etc. Arriving in Kuwait in 1958, he joined Hawks Cricket club and later on moved to Cresent cricket club where he was the captain for a long time.
In his long tenure with Commercial Bank, where he joined in 1969, Mohammed Yahya was the pillar of the Bank team and this stylish wicket keeper batsman had the opportunity to play against visiting MCC, New Zealand & the England teams. A cracking knock of 177 runs for Commercial bank remains the hightest score of this humble and soft spoken cricketer.

Bader Muneer
A passionate cricketer who plays cricket to win and win only. A good allrounder, gifted with great bat speed, Bader Muneer on a given day can bat and destroy the opposition bowling to pieces and a canny off spinner with a wide range of variety deliveries in his armoury. Represented Unity Cricket club and has participated in all the local tournaments where he exhibited his cricket talents.

Kassim Hussein
A fiery right arm fast bowler who could swing the ball either ways was a terror to any batsmen playing cricket in the early 70’s. Such was the command that he had on the ball, Kazim Hussein could swing a match to his team’s favor which he had performed many a times.
Having played cricket with many great test cricketers in India such as the all time great Indian batsman Sunil Gavaker, Kazim Hussein was the lead bowler for Unity cricket club in Kuwait.

Andrew Pinho
The tall and lanky Andrew Pinho learned and played cricket in the twin cities of Secunderabad and Hyderabad, India, under the guidance of late M.L. Jaisimha, who was a former Indian test player. In Hyderabad league, was fortunate to play against most of the national cricketers to the likes of Abbas Ali Baig, Abid Ali, Govind Raj, Jaisimha, and E.A.S Prasanna etc.
Having been in Kuwait since 1975, started playing for Unity Cricket club, Ahmadi and scored 1000 runs for Unity Cricket Club for two consecutive seasons. Also captured 50 wickets in a season on two consecutive seasons. Represented Casuals and played in local prestigious tournaments like Bawa Shield, Speed Bird Trophy, Jashanmal Trophy and four Nations Trophy.
Selected to play for the Kuwait National Team and toured India, Pakistan, England and Denmark in1979/80. Played against the visiting National Cricket Team of Pakistan, led by IMRAN KHAN at Ahmadi Cricket Grounds. Following year played against the visiting National Cricket Team of Pakistan led by JAVED MIANDAD at NC grounds. Also played against the visiting Air India Cricket Team led by Mohinder Amarnath at Ahmadi Cricket Grounds and against the visiting English Team led by Keith Fletcher and Mike Gating at Al Arabi Football Stadium.

Chris Amarasekara
A gentleman cricketer who upholds the traditional term “Spirit of cricket” is Christopher Amarasekara (fondly called Chris) from Sri Lanka and very few who have watched him play cricket in Kuwait can forget the flashy and quick silver wicket keeper batsman who in the mid eighties played in the Hubara and Unity Leagues for Lanka Colts and Wings.
Selected in 1988 to represent Kuwait Select XI against the visiting British Airways team led by Farokh Engineer which included the left arm England spinner Don Wilson. Awarded Man of the Match for a half century and 5 victims behind the stumps in that match and was complimented for his excellent keeping by none other than Farokh Engineer who himself was stumped by Chris. After invasion represented Hawks & Casuals and Lanka Lions in the Hubara and Unity Leagues. Still active in cricket, Chris has many cherishing and happy moments with the bat and as wicket-keeper.

Arif Hussein
Arif Hussein, a stylish opening batsman represented the North Zone combined University team in India which included Kapil Dev, Arun Lal, Kirti Azad, Hari Gidwani etc., and later on represented the Central Zone U-22 team where he scored a match winning innings of 78 runs against West Zone which had the Indian batting legends Dilip Vengsarkar & Sandeep Patil. Blended with perfect batting technique, Arif Hussein played for Starlite cricket club in Kuwait and was known for his precise timing and nimble foot-work and had played in all the local tournaments like Bawa Shield, Speed Bird Trophy, Jashanmal Trophy and four Nations Trophy.
Represented Kuwait Wanderers in an unofficial International tournament and was declared the best fielder of the tournament. Represented Kuwait against visiting Indian, Pakistan & England teams and while touring the Indian sub-continent had scored a scintillating century against Khar Gymkhana.

source: http://www.arabtimesonline.com / April 04th, 2012

 

Vasathi’s First Annual Get-together Was About Fun, Entertainment and Power-packed Performanc

Business & Economy

Hyderabad, March 11th, 2012:

It was an evening to remember. Vasathi’s first annual get-together– Circle of Stars, held atHotel Green Park, Ameerpet, on Sunday was all about fun unlimited, entertainment galore and electrifying performances.

The event took off with the lighting of the lamp by P V Ravindra Kumar, CEO and Satish, Co-chairman of the company. Addressing the occasion the CEO said, “Two year back, the foundation of Vasathi Housing was laid to exclusively address the need of middle income group and create a benchmark in the ‘Affordable Housing’ segment. The company has grown tremendously since then. At present, it has 110+ plus employees, offices in 2 cities and 3 ongoing projects. The company has also grown into three SBUs: Region Holdings Corporate Advisory Services Pvt Ltd., Vasathi Housing Ltd., Clarus Infra Projects Ltd.”

Post the lamp lighting ceremony, awards were handed over to the employees who won the in-house cricket tournament that was held a few days back. Awards were also given to the employees’ kid/kids who contributed their creative pieces for an in-house competition. This was followed by a concluding speech by G Srinivasa Rao, Deputy General Manager – HR.

Special attraction for the evening was an electrifying performance by talented singer Sravana Bhargavi of ‘Simhamanti Chinnode’ fame. Setting the stage on fire she crooned a few popular numbers from her already overloaded kitty.

Post Sravana Bhargavi’s performance, the guests savored the sumptuous spread and connected with friends, acquaintances and colleagues.

About Vasathi:

Vasathi Housing Ltd. is purpose built to be a dedicated national level player in India’s ‘Affordable Luxury Housing’ residential market segment. Since its inception in mid-2009, Vasathi’s sole focus has been to define and deliver to customers the concept of ‘Affordable Luxury’ in India.

Vasathi aims to deliver 15 K housing units in major urban agglomerations across India by 2015. Its endeavor is to leverage the world-class techniques and practices from within and outside the real estate sector to deliver distinctive products to its customers. In keeping with the innovative world class techniques, Vasathi has developed some ‘Cutting Edge Industry Concepts’ such as value sourcing, design to cost and lean construction. Vasathi embraces technology in every aspect of its business, from construction site process automation, to sales and customer service.

Vasathi has launched its first project Vasathi Anandi (October 2010) in Hyderabad. Vasathi Anandi is a self-contained a gated community near APPA Junction. It contains ~500 apartments of sizes ranging from 262 sq ft to 1355 sq ft and price ranging from ~6 lakhs (Studio) and 33 lakhs (3bhk). Vasathi Navya and Vasathi Avanté are planned for launch in December 2011. Vasathi plans to launch two additional projects in Yelahanka, Bangalore and in Sholinganallur, Chennai.

Vasathi aims to make its projects green sensible. In keeping with this vision of Vasathi, Anandi leverages pragmatic and measurable methods to improve performance across key metrics such as energy saving, water efficiency, CO2 emission, indoor environmental quality, etc. Vasathi is committed to obtaining LEED (Leadership in Energy and Environmental Design) certification for all its projects.

For more information please visit: www.vasathihousing.com

source: http://www.prsafe.com / Real Estate / April 04th, 2012

 

HCA to get Rs.10 crore

Sports

Hyderabad Cricket Association (HCA) is in for a bonanza, thanks to Star TV network bagging the telecast rights of Indian cricket from 2012-18 valued at Rs. 3,851 crore. HCA, like any other affiliated unit of Board of Control for Cricket in India (BCCI), will be getting its share of Rs.10 crore from the telecast rights.

“This will be the same for all the associations irrespective of whether or not they stage an international match or not,” says N. Shivlal Yadav, BCCI vice-president and also vice-president of HCA.

Shivlal, who attended the Board meeting in Chennai on Monday, informed The Hindu that even for Indian Premier League, the State Cricket Associations will get a similar amount irrespective whether they host any match or not by way of their share in ad revenue and other related subjects.

All this will be apart from the annual BCCI grant which runs into a few crores of rupees for all the State Cricket Associations to spend for development of infrastructure and promotion of sport across their domain. “But it is unfortunate that this time around, HCA might end up in a ‘no loss, no gain’ situation with regard to hosting the four IPL matches since we are already forced to pay Rs.75 lakh to the Visaka Industries (the first sponsor which pumped in money to facilitate start of the construction of Rajiv Gandhi Stadium),” Shivlal said to a query.

“The HCA gets Rs.30 lakh to take care of the expenses for hosting each IPL match. Since we are hosting four it should be a comfortable Rs.1.20 crore. Now, we are left (after paying the Visaka Group) with only Rs.45 lakh which might not just be sufficient to conduct these matches,” Shivlal explained.

“It is an unfortunate situation which we could not avoid. But it is a fact that HCA might not end up making profit from these IPL matches,” Shivlal insisted.

source: http://www.TheHindu.com / News> Cities> Hyderabad / by V.V. Suhrahmanyam / Hyderabad, April 03rd, 2012

Cairn India’s second oil discovery in a Krishna Godavari basin block

Business & Economy, Science & Technology

New Delhi:

Cairn India today said it has made an oil discovery in a Krishna Godavari basin block, the second find in the onland block.

“Cairn Energy India Pty Ltd, wholly-owned subsidiary of  Cairn-India Ltd has notified the Management Committee of an oil discovery in the Nagayalanka-SE-1 well, in the onshore block KG-ONN-2003/1, in the Krishna-Godavari Basin on the east coast of India,” the company said in a statement issued here.

CEIL is the operator of the block with 24 per cent stake while Cairn India holds 25 per cent. The remaining 51 per cent is with state-owned Oil and Natural Gas Corp (ONGC).

Management Committee is an oversight committee comprising representatives of upstream regulator Directorate General of Hydrocarbons and the Petroleum Ministry besides the three partners.

Without giving reserves the discovery may hold, Cairn said a gross 57-meter hydrocarbon column was tested as oil bearing. It flowed 70 barrels per day of oil and 0.6 million standard cubic feet per day of gas during testing.

“Further appraisal will be required to establish the commerciality of the Nagayalanka-SE discovery,” the statement said.

Nagayalanka-SE is the second find in the KG-ONN-2003/1 Block. The Nagayalanka SE-1 well was spud on November 25, 2011 as an exploration well, to test the hydrocarbon potential of Cretaceous Golapalli sands.

The extended second phase of exploration for the block ends on August 7 this year, it said adding the minimum work committed for the second phase has already been completed.

source: http://www.Economictimes.Indiatimes.com / ET Home> News> News by Industry> Energy / April 03rd, 2012

Saudi youth vie for change, see face of India they didnt know

Business & Economy

New Delhi :

The only India that 22-year-old Saudi student Kholoud Bakr had seen was in Bollywood movies laced with song and dance. But after a 10-day stay in the country, Kholoud feels she has seen the “technological face of India” she had never imagined about.

One of the 40 members of a youth delegation from Saudi Arabia on a visit to India, Bakr is amazed to see the use of information technology (IT) at the country’s technology hubs.

“All that I knew about India was what I had seen in Bollywood movies. But after coming here and visiting the universities and IT centres, I am amazed at the will power and level of technology that has penetrated into Indian society,” Bakr, a management student, told IANS.

“We might have come from a different cultural background and society, but the determination among the younger generation to bring in change connects us with Indian youth,” she added.

Saudi youth are “opening their minds to progress and equal youth involvement”, was what many of the delegation members said.

Clad in colourful embroidered thobes with their heads covered, women stood equal to men as they came from diverse backgrounds such as science, management and IT. Led by the country’s Deputy Minister for Economic and Cultural Affairs Yousef Terad Al Saadon, the team has been here since March 22 and has visited Hyderabad and Bangalore before coming here.

Technology was not the only highlight of the visit as 26-year old Saudi student Aisha Bashayan feels she experienced the role of young women to be very crucial in development.

“Women are change agents across the world. But in reference to Saudi Arabia and India, I got to see how their voice is emerging stronger with each passing day in the course of development,” Bashayan, who was on her second visit to India, told IANS.

Her friend Kholoud Bakr echoes her sentiments: “I am a Saudi woman travelling alone, trying to bring about a change. What does this say about gender equality?”

“It is by culture and choice that womenfolk cover their heads. But when there is determination to work for the country, gender does not matter,” Bakr speaks in an assertive tone even as her team members listen closely.

The men were also dressed in traditional thobes.

The Saudi delegation, after hours of interaction with students from the capital’s Netaji Subhas Institute of Technology (NSIT), exchanged ideas on tele-medicine and tele-education.

“It was great to know from Saudi youth that they think of issues like democracy, corruption, gender. We engaged in several interaction with Saudi youth and came across several lessons that we can learn from each other,” Mohit Sharma, a student from NSIT, told IANS after meeting with the Saudi delegation.

The delegation travelled to the Indian Space Research Organisation (ISRO) in Bangalore and the Indian School of Business, among others, in Hyderabad to gain a first-hand account of the progress made by Indian institutions and universities.

(Madhulika Sonkar can be contacted at madhulika.s@ians.in)

source: http://www.twocircles.net / Home / by Madhulika Sonkar / IANS / April 01st, 2012

 

Malta participates for the first time in IndiaSoft 2012

Business & Economy, Science & Technology

Malta participated for the first time in IndiaSoft 2012 held in Hyderabad, India through two local companies – Alert Communications Ltd and Key IT Group.

Both participants, Managing Director of Alert Communications Ltd Claudine Cassar and Director of Key IT Group Marcel Cutajar were pleased with the outcome of their participation, which they termed as “a very successful visit” and in particular the extensive networking opportunities that Indiasoft provided.

Participation in the Fair was made possible by the High Commission of Malta in New Delhi, who with the help of the Malta Chamber of Commerce, Enterprise and Industry identified the two Maltese companies interested in exploiting this opportunity. To facilitate participation from Malta, the organisers sponsored the return trip to and from Hyderabad.

The High Commission in New Delhi entrusts that Malta’s participation in this annual Fair will be sustained in the coming years, in order to help build commercial bridges of benefit to both sides. In this regard, the High Commission encourages Maltese IT companies to express interest in participation when the call for participation in IndiaSoft 2013 is issued later on this year, around October-November.

source: http://www.di-ve.com / Home> Business & Finance / April 01st, 2012

How Richcore is spinning money out of waste to cut cost for clients like ITC

Business & Economy, Green Initiatives / Environment, Science & Technology

In a small laboratory, tucked away in Bangalore’s Electronics City, which houses major IT companies such as Infosys and Wipro, a team of scientists are working on microbes to produce enzymes that are used to conserve food, energy and water.

The scientists at the biotechnology start-up Richcore Lifesciences have developed a futuristic technology that involves the production of special enzymes from microbes that can catalyse, or increase the speed of, chemical reaction. This product is now being used by multibusiness conglomerate ITC  for effluent water treatment at its factories.

A Das, general manager at ITC’s paper manufacturing facility at Bhadrachalam in Andhra Pradesh, said his company – a first-time user of this technology – expects to treat water effluents without disturbing existing infrastructure. Richcore’s enzyme-based technology breaks down pollutants in industrial waste water in just one week – a process that normally takes months to complete.

“The technology reduces overall waste water management costs by up to 30% and increases water recyclability and reuse considerably,” said Subramani Ramachandrappa, CMD of Richcore, who has filed more than five patents in the last two years. He estimated their potential market at $7-8 billion per annum.

The firm is in talks with companies in Chile, Japan, Middle East, Brazil and many European nations for providing its waste water treatment technology. It has already completed a project in Indonesia for one of the largest paper mills there, which makes around 7,500 tonne pulp a day. The idea to make a customised solution came up when Richcore scientists visited textile company Gokaldas Exports to sell enzymes for washing denims.

In a market already saturated with industrial enzyme-makers such as Novozymes and Genencor, there was little chance for Richcore to grab market share. It was then that Gokaldas came up with a unique request – to make enzymes to treat their effluents. The Richcore team then started collecting microbe samples from waste water treatment plants across several industries, regions and came up with a novel, low-cost enzyme solution.

Richcore soon realised that to survive, the start-up would have to differentiate itself by making customised enzymes in collaboration with its customers. Richcore is now helping Dubai-based firm AquaChemie to treat the toxic waste produced in Oil and Gas industry.

“We chose Richcore as there are not many players who can produce enzymes related to oil and gas,” said Subrato Saha, director at AquaChemie. The company has also bagged contracts from customers such as Premier Mills and Balrampur Chini Mills for different applications.

But the journey was not easy for its founder Ramachandrappa. His family’s silk business had to be shut down after Rama-chandrappa’s father passed away. Ramachandrappa, a textile engineer, was compelled to take up low-paying jobs such as driver, farmworker and sales agent to pay off family debt. He later joined India’s largest biotech firm Biocon, which was selling enzymes at that time. Ramachandrappa decided to quit his salaried job and start his own firm. He founded Richcore as a marketing outfit working with clients such as Biocon and Mohan Breweries.

The company moved up the value-chain by setting up its own research and development laboratory to develop enzymes. Biotechnology being a capital-intensive business, Richcore needed funding to scale it up. As banks refused to extend loans, Ramachandrappa pitched his company at various business competitions in the US, winning many of them.

One of the judges at a competition was a venture capitalist from early-stage investor firm VentureEast, who was impressed with the technology and the team.  VentureEast immediately invested $3 million in the firm in 2008 and an additional $3 million in 2011. Richcore also provides enzyme technology to convert biomass otherwise unfit for animal consumption into animal feed, reducing pressure on food grains.

“The industrial enzyme market is already dominated by multinational companies betting on sectors such as detergents, food and beverages. So Indian companies need to find newer applications,” said Chaitra Narayan, programme manager for chemicals, materials and food at Frost & Sullivan, who estimated the global industrial enzyme market at $3.2 billion.

Today, Richcore is expecting to touch revenues of around $25 million and has 100 employees, most of them scientist

source: http://www.EconomicTimes.Indiatimes.com / ET Home> News> News By Company> Corporate Trends / by Peerzada Abrar, ET Bureau / March 30th, 2012