SAP India & CIIE to Foster Entrepreneurship Ecosystem in Gujarat

SAP has announced the launch of a Startup Accelerator Program in partnership with CIIE to strengthen the local entrepreneurship ecosystem and provide mentorship to early-stage entrepreneurs. Through this program, SAP and CIIE aim to catalyze assistance from several support organizations such as angel networks, co-working spaces, fabrication labs, incubators, industry associations, and, technology and academic institutions, which have been working towards creating a vibrant entrepreneurial ecosystem in Gujarat.

“Entrepreneurs are the emerging leaders of the Digital Economy. They generate tremendous employment opportunities and contribute to the country’s growth,” said Adaire Fox-Martin, President, SAP Asia Pacific Japan. “The program seeks to help entrepreneurs from tier II and tier III towns drive sustainable economic growth and innovation, and make Digital India real.”

The program will be a significant catalyst of growth for entrepreneurs from emerging towns. Entrepreneurs will undergo a three-month, non-residential boot camp and monthly training workshops. They will be paired with domain experts from SAP Labs Bangalore to get insights into the latest technology innovations. The Startup Accelerator Program aims to create a pipeline of investable startups from this region by scouting for entrepreneurs from Gujarat and providing them with mentorship opportunities.

“Innovation and economic growth are directly linked to Gujarat’s ability to develop individuals with the skills to become a successful entrepreneur,” said Kunal Upadhyay, CEO, CIIE at IIM – Ahmedabad. “We are pleased to collaborate with SAP on this initiative, and we will support this by leveraging our past experience and expertise to fast-track startup growth through operational guidance, mentoring and access to capital.”     

                

Believing in the power of small business and enterprises to drive innovation and job creation, SAP India is committed to finding unique ways to accelerate the growth of enterprises across the nation through training and technology consulting. Apart from establishing best practices in the area of entrepreneurship, the Startup Accelerator Programwill work towards building stronger collaboration between entrepreneurs and different stakeholders. In addition, this program will help develop a robust ecosystem and support entrepreneurs in areas such as Social Entrepreneurship, Healthcare, Education, Sports, Internet, Mobile, Internet of Things, Clean Technology, Smart City and Food & Agri Business by providing them with operational guidance and access to capital.  

Flat Net As Canara Bank Records at Rs 613 cr in Q4, 2015

Bengaluru-based public sector lender Canara Bank’s net profit remained flat at Rs 613 crore for the fourth quarter ended March compared to Rs 611 crore in the corresponding quarter last year.

Total income of the bank increased seven per cent to Rs 12,429 crore as against Rs 11,610 crore in the year-ago quarter. The operating profit declined 7.9 per cent to Rs 1,733 crore from Rs 1,882 crore a year ago.

Despite lower provisions, the bank’s net profit came down. It was due to a decline in net interest income during the quarter. It stood at Rs 2,486 crore as against Rs 2,536 crore, a decline of two per cent year-on-year. The net interest margin for the quarter came down two basis points to 2.25 per cent from 2.27 per cent a year ago.

The bank made 7.4 per cent lower of provisions at Rs 1,010 crore as against Rs 1,091 crore in March 2014. Of this, provisions towards non-performing assets  stood at Rs 782 crore against Rs 802 crore in the fourth quarter of 2013-14. 

The gross NPA ratio was at 3.89 per cent from 2.49 per cent at March 2014. The net NPA ratio at 2.65 per cent from 1.98 per cent at March 2014. Cash recovery aggregated to a record level of Rs 5,993 crore compared to Rs 5,494 crore last year. Upgradation was Rs 2,031 crore compared to Rs 2,853 crore last year.

"During the fourth quarter ended March 2015, the bank saw fresh slippage of 2,804 crore. The bank witnessed stress in the areas of power, roads, steel and textile sectors," P S Rawat, senior executive director and in-charge Managing Director and CEO said.   

Rs.1.5 Cr ‘Innovate for Digital India’ Challenge Open to Academia, Entrepreneurs & Startups

Intel in India and the Department of Science and Technology today announced the call for entries for the Intel & DST- “Innovate for Digital India Challenge”. The challenge is aimed at fostering a culture of innovation, create solutions that can address local needs and build an empowered ecosystem for pervasive technology adoption in the country. The challenge will be open to aspiring and existing entrepreneurs, innovators, academia, designers, engineers and makers from diverse backgrounds. To participate in the challenge, candidates must log on towww.innovatefordigitalindia.intel.in and register their projects at the earliest. The registration closes on June 22, 2015.

Participants of the Intel & DST- Innovate For Digital India Challenge will be mentored by industry stalwarts and Intel experts. The participants will be trained in technical know-how, will be provided access to product kits and infrastructure and multiple commercialization opportunities. They will be offered market linkages and access to funds at various stages to enable them to make their solutions readily deployable. The challenge has been designed in collaboration with the Department of Science and Technology^* (DST), with support from the Department for Electronics and Information Technology^*, MyGov.in^* and will be managed by IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship^*(CIIE). 

Narendra Bhandari, Director, Software and Services Group, Intel Asia Pacific & Japan, Naganand Doraswamy EVP & co-founder SPAN Infotech & President TIE Bengaluru and Shankar Maruwada, CEO & Co-founder Ekstep led the announcement of the challenge at a press meet today. 

“Innovation is part of Intel’s DNA,” said Narendra Bhandari “This challenge combines Intel’s history of creating innovative technology with government’s Digital India vision, complemented by entrepreneurial talent to create a sustainable technology ecosystem. Through this challenge, we aim to encourage people to come forward and participate and create solutions that will help make Digital India, a reality.”

Naganand Doraswamy, EVP & co-founder SPAN Infotech & President TIE Bengaluru, said, “It is wonderful to see Intel actively collaborating with the government in the product start-up space. The Intel & DST Innovate For Digital India Challenge will offer a platform to the young creative minds of Karnataka to showcase their ideas and build start-ups that can make a difference in the Indian market.”

Speaking at the event, Shankar Maruwada, Co-founder & CEO Ekstep said,” Innovate For Digital India Challenge promises to be a timely platform for young creative minds across the country and we are extremely excited to be part of this challenge as this is the right time for students, innovators, and aspiring entrepreneurs in Karnataka to come forward and pave the way for enabling an innovative ecosystem.”  

Indoor Air Purifiers 'Blueair' Launches Health-Saving Products in Karnataka

The Swedish major, Blueair, a leading provider of indoor air purifying technologies and appliances, today officially launched its lung disease battling products in Karnataka state. The foray comes just days after a Blueair-supported study revealed 36 percent of Bengaluru’s school-going kids suffer poor lung health as a result of air pollution. The full range can enhance health and wellbeing at home and work by removing most known airborne contaminants hazardous dust particles such as PM2.5, chemicals, smoke and bad odours. The air purifiers are also known to remove deadly viruses that include the deadly H1N1, commonly known as swine flu.

Erik afUgglas, a senior member of the Blueair Board of Directors since the company was founded in 1996 said: “Our entry into India is a very important milestone in Blueair’s global growth strategy. India is a critical market where we expect to acquire a significant market share as a result of our superior technology, outstanding design and advanced air cleaning appliances. Our entry reflects both our strength as the leading global player in the air purifying category and our confidence in the ability to meet the opportunities that the highly-evolved Indian market offers.

He added: “Blueair air purifiers have enjoyed huge success in many countries such as China, Japan and the USA, thanks to innovative, high quality air purifying technologies designed to improve human health and wellbeing. We are committed to introduce many more life enhancing, indoor air cleaning products from the Blueair stable that will cater to the various domestic and business segments of Indian society in the future.”

Vijay Kannan, Blueair business head in India commented on the launch and said, “Blueair’s indoor air purifiers have won global recognition and awards for their ability to clean the air in a room every 12 minutes of practically all known contaminants, including allergens, asthma triggers, viruses, and bacteria. He further averred that the aim behind Blueair’s launch in India is to provide exceptional indoor air cleaning performance and enhanced user experience for consumers and business buyers, at competitive prices. He added that as an internationally favourite health-technology brand, Blueair symbolises the new India where young, aspirational consumers favour brands that create a stir by doing good by being good.

Whisper quiet and using little energy, Blueair air purifiers add a global Scandinavian design ethos to the modern life-enhancement home appliance choices available to Indian consumers. Since being launched in 1986 in Stockholm, Blueair air purifiers have been honored with a host of international design and new technology awards, including iconic Red Dot Awards, handed out by Germany’s Design ZentrumNordrheinWestfalen, and Good Design Awards from the Chicago Athenaeum Museum of Architecture and Design.

In addition to being a favourite choice of consumers around the world, Blueair air purifiers are also used by a vast array of international institutions, businesses and government agencies. Recently US embassies in Beijing, China, and Delhi, India have purchased thousands of Blueair air purifiers to protect staff in offices and homes against indoor air pollutants.

In the lead up to its official launch, Bluair has already managed to stir up excitement around India with the launch two weeks ago of its Clean Air India Movement (CLAIM) campaign. A core element of the maiden campaign has been a nationwide study by Blueair under the auspices of the HEAL Foundation that revealed 36 percent of Bengalaru’s’s school-going kids suffer poor lung health as a result of air pollution, for example.

“The CLAIM campaign reflects the belief of Blueair’s founder, BengtRittri, that clean air is a basic human right, which is a core value entrenched in everything Blueair does as a company,” said. Kannan. “We believe that in the near future, indoor air cleaners will become as common as vacuum cleaners are today due to consumer concerns about the air they are breathing.”   

New Commodity Analytics Cloud from Eka Software

​

Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announced today the general availability of Commodity Analytics Cloud, an advanced analytics solution for commodities companies in the agriculture, manufacturing, energy, and metals industries. With Commodity Analytics Cloud, traders, risk managers, analysts, supply chain/logistics managers, IT specialists, back office personnel, and executives gain previously unavailable insights into key business areas and can take action before competitors.

“Commodities markets are characterized by risk, volatility, and complexity,” said Manav Garg, CEO at Eka. “Business users can no longer afford to wait days and weeks to understand market changes, analyze the alternatives, and make decisions. Every business user needs the power to analyze data the way they want, and that’s exactly what they get with Commodity Analytics Cloud.”

Harnessing data from internal systems, such as ETRM, CTRM, ERP, CRM, and spreadsheets, and external sources, such as market curves and weather data, Commodity Analytics Cloud brings all the data together in one place to answer the most important questions. Information is displayed in an easy-to-understand way that facilitates deeper inquiry. Business users can focus on data analysis, not data collection.

Backed by years of deep domain experience, Eka has created a series of apps specifically designed for the commodities markets that address high value business issues. Providing an end-to-end analysis of the entire enterprise, these apps span multiple categories including positions, P&L, trading, risk, credit, finance, supply chain, reconciliation, counterparties, and more. Users can download the specific apps needed for their area of the business, and even customize apps for their individual needs. Analytics are no longer restricted to the realm of the IT department or other specialists. Commodity Analytics Cloud opens analytics to everyone.

“Commodity Analytics Cloud is very different from other generic business intelligence tools,” said Michael Schwartz, Executive VP and CMO at Eka. “We’ve leveraged our vast experience in the commodities markets and built it into the platform and the specific apps, providing unique value to our customers.”

Eka’s revolutionary next-generation technology, Pace, processes millions of data entities in seconds which enables users of Commodity Analytics Cloud the ability to move through data at unprecedented speed. Users can mix and match different data sets and perform real-time analysis on extremely large volumes of data. Available on both smartphones and tablets as well as desktops and laptops, Commodities Analytics Cloud can be deployed on-premise in an internal company network or externally on a public cloud. Learn more about Commodity Analytics Cloud at www.commodity-analytics-cloud.com.

Commodities Analytics Cloud is part of Eka’s Smart Commodity Management suite and can be used stand-alone or combined with Eka’s InSight CM platform, which supports the entire commodity transaction lifecycle including trading, risk, compliance, procurement, supply chain, operations, logistics, bulk handling, and processing. InSight CM is Eka’s next-generation integrated system for managing commodity transactions end-to-end throughout the value chain.  

SMBs In Rajasthan Get Online at just Rs 199 Month

Microsoft and ZNetLive, a leading technology provider have come together to empower SMBs in Rajasthan to take their business online, for as low as Rs 199. With this offering they aim to help over 20,000 SMBs in Rajasthan reach more customers globally, while making the business more discoverable, keeping the identity secure and enabling collaboration. This partnership will enable all small and big businesses to host and publish their website in less than 45 seconds, and enhance their sales output by connecting with more customers digitally.

“Our association with Microsoft will help SMBs take their businesses online at an affordable price of Rs 199 per month. Our offer will not just provide them with website solutions, but also make them more collaborative and productive. We want businesses today, to recognize the power of web and cloud, and translate it to growth,” said Munesh Jadoun, CEO, ZNetLive.

Present at the event to talk about the success of ZNetLive and Microsoft’s efforts to enable organizations get online and increase productivity, were customers of ZNetLive, Rajasthan Four Wheel Drive and Orchid Consultancy Services.

Anil Sinha, Director, Rajasthan Four Wheel Drive, said, “We are in Tours and Travel business and as per today’s business scenario we need powerful collaboration and communication tools to enhance our employees productivity and engage better with our customers, suppliers and vendors across locations. Adoption of Office 365 has enabled us to access the most advanced technologies for our business that is always on, always available, always secure is scalable on demand and is accessible no matter where our employees are at just Rs. 199 month.”

Saurabh Raut, Director, Orchid Consultancy Services, said, “By adopting Microsoft Office 365, we have successfully solved our business needs in an affordable, per-user model.  Our concerns over reliability, security and availability of our IT needs are a thing of the past, allowing us to focus our precious resources on our core competencies and servicing our customers.”

Manohar Hotchandani, Director, Business Development, Microsoft India said, “Technology has made the world a smaller place with businesses transacting and exchanging ideas globally, and our engagement with ZNetLive is aimed at achieving just that for the SMB community. This offer provides them with opportunities to connect and engage with their existing and prospective customers more seamlessly. This will even help them strengthen their engagement with global customers leveraging secured communication channels through Microsoft Office 365.”

As per a recent report by Boston Consulting Group (BCG), a global management consulting firm and a leading advisor on business strategy, small and medium businesses who adopt IT solutions, grow faster than the ones who are lagging behind. The report also shows that SMEs that adopted IT created more new jobs and drove more revenue growth over the past three years compared to SMEs using little technology. The BCG report, Ahead of the Curve: Lessons on Technology and Growth from Small Business Leaders, found that if more SMEs in India adopted the latest IT tools, there is potential for SME to grow their revenues by $56 billion and create 1.1 million new jobs.  

Technology to Help Transform Children’s Lives

UNICEF and ARM have announced a multi-year partnership to accelerate the development of new technologies to overcome the barriers that prevent millions of families from accessing basic health, education and support services. The partnership’s first action is to collaborate with global product strategy and design firm frog on a ‘Wearables for Good’ challenge to generate ideas for new and innovative devices that tackle maternal and child health needs in emerging economies.

The partnership will focus on enabling UNICEF to provide faster and more comprehensive help to children coping with the effects of mass urbanization and increased social and economic divides. Together, UNICEF and ARM will use their influence to encourage the tech sector to innovate for impact.

Initial deliverables in the multi-year partnership include:

* UNICEF and ARM have partnered with frog to launch the ‘Wearables for Good’ design challenge. The challenge asks: Could wearable and sensor technology be the next mobile revolution? Running over six months, the challenge invites developers, designers, community partners and problem-solvers to design a wearable device that offers a cost-effective, efficient, and sustainable solution to pressing maternal, newborn or child health problems.  

* ARM will work alongside UNICEF’s network of Innovation Labs and country offices to identify and scale up pilot projects that demonstrate the potential to be used at a national level. Over the next year, UNICEF and ARM will uncover the most impactful solutions being used or in trials across the UNICEF network and invest to deliver them wherever they are needed.

* Longer term, the UNICEF/ARM partnership will conduct research to evaluate and promote market opportunities in developing countries. With the findings, UNICEF and ARM will outline the business case for investing in solutions for mobile financial services, identity, transportation, learning and wearable/sensor technology. The joint goal is to build momentum for globally co-created and scalable technologies that attract commercial investment.

“We need to innovate with social purpose in order to overcome the barriers of time, distance and lack of information that prevent millions of children from surviving and realizing their potential,” said Erica Kochi, Co-lead, UNICEF Innovation. “By working together with ARM we improve our ability to develop new technologies that impact children and help them grow up healthy, educated and able to positively contribute to their families, communities and wider economies.”

“Technology should be used to create opportunity for all; improving child health, education and prospects, and access to it should not be governed by economic status or geography,” said Simon Segars, CEO, ARM. “We have spent 25 years enabling life-changing technologies and together with UNICEF’s innovation experts we believe this partnership can deliver a positive social impact for children all-around the world.”

Today’s partnership announcement has evolved from a growing understanding between UNICEF and ARM that technology can have a defining impact on children’s lives. With that shared view, UNICEF and ARM aim to drive sector-wide change, creating an ecosystem of technology companies that explore the potential social impact of new technologies they develop.