STPI Anounces Opening 28 Centres of Excellence in Emerging Tech at an Investment of Rs 400 Crore

Software Technology Parks of India (STPI), is in the process of opening 28 Centres of Excellence (CoE) in emerging technologies at an investment of more than Rs. 400 crore, said Dr. E.V.  Ramana Reddy, additional chief secretary, Department of IT, Bt and S&T, Government of Karnataka, delivering the keynote address at the CII India Innovation Summit 2019 being held the The Taj Westend in Bengaluru. "He said five centres of excellence are currently operational and in two years, all 28 CoEs will be operational. Emerging technologies such as AI, IoT, Medical Electronics, IoT in Agriculture, Automotive Electronics will be the focus of the CoEs.

STPI is a society established in 1991 by the Indian Ministry of Electronics and Information Technology with the objective of encouraging, promoting and boosting the export of software from India.

Bengaluru has been widely cited as one of the fastest growing technology hubs and startup capitals in the world. Bengaluru is ranked 11th Best Global Startup Ecosystem, as per the Startup Blink Startup Eco-system Rankings Report 2019, moving up from rank 21 in the year 2017. Our Department is in the process of drafting a new policy on innovation and technology with the view to address the new age challenges in regulation for innovation. We are considering innovative concepts such as regulatory sandboxes to ensure adequate legal framework for innovation is available. Our aim is to make the state a leading promoter for all emerging technologies by strengthening existing technology Centres of Excellence in areas such as Cyber Security, Data Analytics, IoT, Artificial Intelligence.”

Kris Gopalakrishnan, Past President, CII & Chairman, India Innovation Summit, said that the march of technology is continuous and the world has made great strides in quantum technology and artificial Intelligence. New business models are continuously emerging, and it is imperative to stay up-to-date in order to be relevant. With industry boundaries blurring, policy makers need to ensure that regulations keep up with innovation. Sandbox models may be needed to test innovation, and business models to ensure the desired outcome is achieved. India Innovation Summit is a platform to deliberate, debate and learn. Citing the current distress in the auto industry, he said it is encouraging that the government is promoting greener technologies. However, in order to successfully implement new policies, we need to adopt a holistic approach that looks at the entire ecosystem right from raw materials to finished products.

Rekha M. Menon, chairman & senior managing director, Accenture said that in India, innovation will be the main pivot for India to be a USD 5 Trillion economy. Innovation will be the cornerstone and there is no other choice. We need to be mindful that in achieving our target of a $5 trillion economy, innovation for socio-economic growth is not overlooked. In order for India to move up the global innovation index, we need to ensure that innovation is a process, a collaborative approach that involves government, academia, research and startups.

Startups are the key in the innovation ecosystem. India now is the third largest hub for technology startups which is a positive sign. The other area to focus on is investment in R&D. India ranks 50th in R&D investment and this number must go up with participation of government, academia and private sector, she added.

Nicole Girard, Consul General, Consulate General of Canada, said that India is Canada’s fastest growing trade partner and people-to-people ties continue to grow in double digits. Canada has a strong innovation partnership with India and there is a strong opportunity to explore. Both countries have phenomenal tech talent and for deeper India-Canada relations, Canada has launched an Innovation Super Cluster Initiative to propel economic growth. She enumerated five super clusters i.e. digital technology, protein industries, advance manufacturing, ocean tech and AI that will be key focus areas for Canada.

Digital Start-Up Mavyn Onboards Atul Kawatra as Non-Exec Director

Digital trucking start-up, Mavyn, announced the appointment of Atul Kawatra as its Non-Executive Director. Atul will guide Mavyn on overall company strategy, with a special focus on financing decisions, investor relations and capital allocation.

Commenting on the appointment, Mr. Sachin Haritash, Founder, Mavyn, said, “The expertise and experience that Atul Kawatra brings to the firm will further strengthen our finance function. This appointment is another step towards consolidating the leadership of our organisation, while reinforcing our position at the forefront of revolutionising the digital trucking industry.”

With more than 16 years of experience in finance roles, the newly appointed Non-Executive Director’s key tasks will be to define overall business objectives, guide fund raising plans and create strategies to maximise ROI for Mavyn on long-term investment plans.

Discussing his new role at the company, Mr. Atul Kawatra said, “It is a great honour to be joining Mavyn at a stage where I have the chance to contribute to a rapidly growing business. Mavyn is exceptionally well positioned to take advantage of the expanding logistics sector, and I look forward to helping the team accelerate growth even further.”

Mr. Atul has worked with various reputed global organizations and is currently based out of Singapore. He heads the Corporate Loans business for the Asia Australia region at Siemens Bank. He was instrumental in setting up Siemens’ finance business in the region and has been part of the organization for over ten years. Prior to Siemens, Mr. Atul has worked with Deutsche Bank, American Express and ICICI Bank.

Latest CII-JLL Study Reveals Increasing Share of Institutional Investments in Indian Real Estate

Institutional investments increased in the last ten years and have improved investor confidence, risk appetite and transparency. Enhanced use of technology across asset classes have changed the outlook of investors towards Indian real estate. As a result, investments have more than tripled to INR 1,400 bn during 2014-18 as compared to INR 465 bn during 2009-13, says the latest CII-JLL report ‘Innovation Led Opportunities - Changing IndiaE 2�™s Real Estate Landscape’, released today at the 11th Edition of CII Realty & Infrastructure Conclave.

Traditional real estate segments such as residential and commercial have been using modern technology across construction, planning and development for over a decade now. Policy reforms in the sector, the concept of shared economy giving rise to new asset classes such as co-living and co-working spaces and technology driven businesses resulting in the increased interest in data centers have together made times exciting, both for occupiers and investors. Additionally, introduction of Real Estate Investment Trusts (REITs) have opened new doors for retail investments in commercial real estate.

“India has gradually transformed into an investment destination of international repute post the global financial crisis and real estate and infrastructure have played a vital role. Within the space, adoption of technology coupled with policy reforms is one of the key factors for investors to consider greater participation,” said Ramesh Nair, Chairman, CII Realty and Infrastructure Conclave and CEO & Country Head, JLL India.

“While metros like NCR-Delhi, Mumbai and Bengaluru accounted for 74% of the total institutional investments during 2009-18, we expect tier II and III cities to draw more funds in the coming years. Government’s focus on the growth of smaller cities is leading the change,” Nair added.

The report also highlighted that the commercial office segment witnessed the maximum share of institutional investments in the past ten years. Rise in the development of environmentally sustainable buildings and subsequent demand from occupiers have added strength to this trend.

From 2009 to 2013, opportunistic funds returned to Indian markets and picked up marquee assets in select offices (commercial and IT parks/SEZs). India’s improving reforms scenario added value to the overall scenario. Notification of REIT regulations in 2014 led to a deluge of investments in high yielding assets with attractive valuations. This was especially in the non-IT office space as most quality IT/ITeS assets were acquired by funds. Investors took note of the innovation introduced at all levels.

With a superior sustainability quotient, Grade-A offices with single ownership and limited supply have pushed global investors to close large deals. But lower availability of quality assets has led to large investors chasing entity level deals leading to extended investment cycles. As a result, the share of investments in the office segment declined during th e first six months of the year as compared to the corresponding period the last year.

Commenting on the investors’ preference, Samantak Das, Chief Economist and Head of Research & REIS, JLL India said, “Investment strategies have shifted to long-term partnerships from being merely opportunistic. There has been a rise in investments in the past decade. Institutional investments in real estate in H1, 2019 stood at INR 195 bn, reflecting continued momentum of capital infusion. The investment climate, however, in the first half of 2019 was uncertain. Initially, this was due to the NBFC default crisis and later due to general elections.”

LIVA from the Aditya Birla Group Ventures into Saree Category

LIVA, the new age fabric from the Aditya Birla Group announced its foray into the Saree category this week at country’s largest ethnic wear event.

Mr. Dilip Gaur, Managing Director, Grasim Industries Ltd. said, “Saree is an iconic category but its growth is sluggish as compared to other women’s wear segment. There is strong need for innovation in saree as a category which LIVA will be able to fulfill with its fluidity.”

As per a report by Technopak in 2018, the saree market in India is worth Rs. 60,000 crores and constitutes 29% of the total women’s apparel market.  Aditya Birla Group recognized this need-state and potential in this category. They therefore bridged it with this announcement at the Kolkata Fashion Expo.

Sponsored and presented by LIVA, the event showcased a fashion show using fabrics from LIVA and a lounge where collections by the Value Chain Partners from prominent hubs were showcased for the first time. Indian celebrity and fashionista Mandira Bedi also crafted a collection with LIVA fabric and showcased during the show. One of the first Indian celebrities to make saree fashionable and trendy, Mandira was most fitting for launching the saree collection.

Premium labels including Parasmani, Surya Sarees, Parvati Fabrics and many others presented contemporary festive collection “Reimagined” with LIVA. Various Partners of LIVA from different textile hubs country including Varanasi, Chanderi, Bhagalpur, Salem, Kolkata, Delhi & Surat showcased their latest saree & lehengas collection at an exclusive LIVA Pavilion.

The event received an overwhelming response. It was attended by over 1500+ retailers, boutique owners & wholesalers all over India, including top players like Nalli’s, Chennai Silks, Manyavaar and many others

LIVA leveraged its attributes of drape, natural sheen and softness and wants consumers to re-imagine saree in a new way.  To better suit the needs of the value chain, LIVA also introduced new blends for both occasion wear and regular wear.

About 41% Karnataka People Unaware of Having High Blood Pressure:India Heart Study

Findings of India Heart Study (I.H.S) show that 41% of people from Karnataka who participated in the study were unaware of suffering from high blood pressure. The study also found that:

·         12.7% of the respondents were oblivious of their high blood pressure levels (masked hypertension) and
·         25% were found to have white-coat hypertension and were likely to be misdiagnosed

India Heart Study (I.H.S) findings highlight a high prevalence of masked hypertension and white-coat hypertension in Indians at 42% on first office visit. It was also found that Indians have a higher average resting heart rate of 80 beats per minute, higher than the desired rate of 72 beats per minute. Another striking finding of the study is that unlike other countries, Indians have higher blood pressure in the evenings than in mornings which should guide doctors to rethink the timing of advising anti-hypertensive drug dosage.

Dr. Upendra Kaul, Cardiologist, Chairman and Dean Academics and Research of BHMRC, who was the Principal Investigator of I.H.S, said “India Heart Study points to a need for better clinical management of hypertension in India. This is India-specific data and should help shape the best practices for the diagnosis of high blood pressure among Indians. The study presents exhaustive data on the various aspects of hypertension.”

Throwing light on the study, Dr. Willem Verberk, PhD., Cardiovascular Research Institute Maastricht (CARIM), and a key investigator, said, “For the ‘correct’ detection of hypertension, home blood pressure monitoring is advised. However, different patients may have different co-morbidities, like diabetes, which makes the use of validated devices for home blood pressure monitoring important. Home blood pressure monitors for pregnant women, adolescents and people with kidney disorders needs to be validated separately.” 

Eris Lifesciences commissioned the India Heart Study that was conducted under the aegis of Batra Hospital & Medical Research Centre.  Dr. Viraj Suvarna, President – Medical, Eris Lifesciences said, “Masked Hypertension, if undetected, is a dangerous phenomenon. It is important to monitor one’s blood pressure, beyond the clinic, even at home, according to prescribed guidelines. Accurate diagnosis of hypertension is an important element of our fight against this disease and improving health outcomes.”

Dr BV Baliga (Cardiologist)–Director, Baliga Diagnostics, Bangalore, and a co-ordinator for I.H.S, said, “The prevalence of high blood pressure or hypertension is increasing in the state. Unlike other diseases, hypertension has no symptoms, it is thus also known as the silent killer. Adults above 40 years of age should monitor their blood pressure at home regularly besides the check-up at the doctors’ clinic.”

According to Dr. Sanjeev Hiremath (Nephrologist) – Sagar Hospital, Bengaluru said, “There are several complications associated with high blood pressure. Besides increasing the chances of heart attacks and strokes, high blood (i.e hypertension) accelerates kidney diseases. Any person at the risk of kidney disorders or suffering from one should ensure that they monitor their blood pressure using validated devices for better disease management.”

White-coat hypertensives who are misdiagnosed and put on anti-hypertensives have to take unnecessary medication. It may also lead to a risk of hypotension (low blood pressure, less than 90/60) in such persons. On the other hand, a masked hypertensive may go undiagnosed running the risk of complications for heart, kidney, and brain, leading to premature mortality.

What sets this study apart is that it was conducted on ‘drug-naive’ set of participants using a comprehensive process of taking blood pressure readings. The investigators examined the blood pressure of 18,918 participants (male and female) through 1233 doctors across 15 states over a period of nine months. The participants’ blood pressure was monitored at home four times in a day for 7 consecutive days.

About Eris Lifescience

Eris Lifesciences is among the top 25 companies in the Indian Pharmaceutical Market (IPM). The company has focused on filling gaps – compliance, therapeutic, diagnostics– in India’s healthcare system. To improve patient outcomes the company supports patient care initiatives like ABPM on Call (24 hour BP measurement), Holter on Call etc. as a part of its corporate philosophy that is Patient care first.

Yes Bank Raises Rs. 1,930 Crore through Qualified Institutions Placement (QIP) Route

Yes Bank, pursuant to the allotment of its equity shares on August 15, 2019, has raised Rs. 1930 crores through the Qualified Institution Placement (QIP) route. The QIP opened on August 08, 2019 and closed on August 14, 2019.

The Bank allotted 23.1 crores equity shares of face value of Rs. 2 each to eligible qualified institutional buyers (QIBs) at Rs 83.55 per Equity Share, in accordance with the pricing formula provided under Regulation 176(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The QIP increases the Bank’s Total Capital Adequacy Ratio to 16.2%*, Tier I Ratio to 11.3%* and Core Equity Tier I Ratio to 8.6%*, ensuring that the Bank remains capitalized well above the regulatory limits.

*Post QIP Issuance considering position as at June 30, 2019(including profits for the Q1FY20)

The issue saw strong response from foreign as well as from domestic QIBs. The overall allocation to foreign institutional investors is approximately 34% from USA/Europe, 40% from Asia, and balance from domestic insurance companies and mutual funds highlighting a well-diversified representation and demand from across the world. The QIP also enables a further diversification of the shareholder base of YES BANK.

CLSA India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Private Limited, Prime Securities Limited and YES Securities (India) Limited were the Global coordinators and Book Running Lead Managers to the QIP issue. The Legal Advisors to the transaction were AZB & Partners, Linklaters Singapore Pte. Ltd. and L&L Partners (formerly known as Luthra & Luthra Law Offices). The Statutory Auditors were BSR & Co LLP.

On the successful completion of the equity allotment, Ravneet Gill, Managing Director and CEO of Yes Bank, said, “We are delighted with how our fund raise has been supported by marquee global and domestic investors. We maximised the size to the extent of the (up to) 10% dilution limit currently approved by our shareholders. The success of the QIP is extremely satisfying given the strong global and domestic headwinds and a credit environment beset with challenges. We see this as a strong endorsement by the investor community of the inherent strengths of the YES BANK franchise and its future growth prospects.” 

Western Digital’s India Innovation Bazaar 2019 Fosters a Culture of Data Transformation and Innovation

Western Digital hosted the third edition of India Innovation Bazaar, a unique forum for employees to present ideas in the areas of research and engineering excellence. The platform paves the way for employees to curate ideas that enable themselves and Western Digital to unbox innovation and accelerate digital transformation.

The two-day event saw patent worthy-ideas, tech talks from industry veterans and engaging discussions. This year’s edition received more than double the entries of last year, standing at 585 abstracts across 39 different categories. Over 100 internal reviewers assessed the abstracts to select 160 to present at the Innovation Bazaar 2019. The shortlisted abstract went through a rigorous test categorized under four crucial parameters - clarity, usability and functionality, novelty, and business impact.

Supria Dhanda, Vice President & Country Manager at Western Digital India said, “The industry is transforming at a relentless pace and we need to empower our employees to raise the bar with new ideas and innovation. India Innovation Bazaar is an exclusive platform for our highly talented and capable engineers to showcase breakthrough inventions. We feel the spirit of camaraderie and passion to make a difference is unmatched.” She added, “In India, data has the potential to solve a variety of challenges, and through this initiative, we are fueling the next wave of data innovation.”

This year’s edition also saw papers from non-engineering categories as well, including documentation and process and methodology. Innovative ideas were presented at the event across categories like Big Data, Machine Learning, Artificial Intelligence, Memory/ Flash Models and Storage File Systems.

Anand Venkitachalam, Vice President for Silicon Technology & Manufacturing (STM) at Western Digital India commented, “I am delighted to see this flagship event grow in leaps and bounds from the previous years. This is a great initiative to encourage our engineers to take out time from their regular corporate routine to showcase this level of innovation. In today’s day and age, it is very important to encourage the spirit of innovation and provide a platform for disruptive ideas to flourish.”

The event also saw keynotes from industry leaders who touched upon the startup ecosystem, India’s technology landscape and its innovation journey. Venkatesh Kumaran (Venki), President and Partner at AXLerateNOW, Co-Chair of IOTNEXT hosted by IESA - India Electronic & Semiconductor Association and TiE Bangalore Board Member, emphasized how the Indian startup ecosystem is a key innovation driver and plays a pivotal role in providing solutions to contemporary challenges.

Mohan Kumar R, Country Head of Wearable Technologies AG highlighted the fast-growing wearable segment and the role of Big Data, Fast Data and Edge Computing in its transformation. The sessions ended on a lively note with Matt Crowley, Vice President, Design Systems, Silicon Technology & Manufacturing at Western Digital, speaking on entrepreneurship and managing innovation in the context of deep technology.