Honeywell Strengthens Partnership With IISC To Boost Startup Ecosystem And Fuel Local Innovation

* Partnership to support 13 startups with seed capital and infrastructure support

Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell India, and the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) have extended their partnership to support 13 new startups to promote research and development (R&D) in deep science and fuel local innovation. HHSIF will provide these startups with seed capital, while SID will offer infrastructure support, access to the right technology, mentoring, and human capital.

Startups focused on R&D in deep science solutions were eligible for funding and support under this partnership. Preference was given to startups with founders from marginalized communities or to those working on solutions that have a direct impact on disadvantaged communities.

Accordingly, startups that have been selected under this round of funding include those working on COVID-19 solutions, developing medical technologies to assist the elderly and differently abled, building eco-friendly specialty fluorescent dyes, creating rapid point of care diagnostics tools for use in limited resource settings, and working on solving issues related to water, sanitation and hygiene (WASH).

“As a technology leader, Honeywell understands the importance of supporting and nurturing startups that are engaged in meaningful research in deep science. We were one of the first companies to dedicate CSR funds to incubate promising technologies. Our partnership with SID is an endeavor towards driving local innovation, fostering a dynamic startup ecosystem and enabling job creation,” said Ashish Gaikwad, Managing Director, Honeywell Automation India Limited and Director, HHSIF.

“At SID, our vision is to inculcate research excellence and nurture startup growth by facilitating access to lab infrastructure, technological support, capital, mentorship, and guidance. We believe that this association with Honeywell will act as a catalyst for technological innovation and lead the way for more corporates to form incubation associations through the CSR route,” said Professor B. Gurumoorthy, Chief Executive, SID, IISc.

Honeywell and SID, IISc entered into a partnership last year to support six startups working on deep science solutions, primarily in the healthcare sector. This partnership seeks to strengthen the country’s startup ecosystem and reinforce technology as a key driver of change.

About Honeywell Hometown Solutions India Foundation (HHSIF)

Honeywell Hometown Solutions India Foundation (HHSIF) is a not-for-profit organization that deploys Honeywell’s corporate social responsibility (CSR) efforts in five critical areas: education, skill and research, gender equality, natural resources and the environment, holistic rural development, and disaster management. HHSIF’s programs include Honeywell STEM Education for Youth, a skilling program for women and youth to build a future-ready workforce; Honeywell Model Village for holistic rural development; Honeywell Start-up Support Program for incubation in deep science; Honeywell Center for Advancing Girls in Science at Avasara Academy to promote STEM education among girls; and Honeywell COVID-19 relief.

About Honeywell

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

About the Society for Innovation and Development (SID)

Society for Innovation and Development (SID) is the industry interface of the Indian Institute of Science (IISc). SID coordinates all industry R&D, collaborative developments and science and technology-based business incubation & transformation activities at IISc. SID’s objective is to translate scientific knowledge into practice for the benefit of society. SID has three divisions – CORE Labs that engages with large corporations for multiyear research; TIME2, that works with MSMEs in seeding disruptive innovation; and STEM Cell that incubates deep science startups. So far, SID has executed over 500 projects and has incubated over 60 deep science startups.

Manipal Academy Of Higher Education To Celebrate National Science Day On Feb 28, 2022

* It is annually celebrated all over India to commemorate discovery of Raman Effect by Sir CV Raman in 1928.

I* t will be hosted at the Auditorium at Manipal School of Life Sciences, MAHE, Manipal

* Students will be awarded for best science models, drawing and elocution competitions

Manipal Academy of Higher Education (MAHE) will be hosting the National Science Day celebrations at 4.00 PM on 28th February, 2022 at the Auditorium at Manipal School of Life Sciences, MAHE, Manipal. The event will be hosted keeping all the Covid precautions in mind.

Mr. Rohith Chakrathirtha, Eminent Writer, Mathematician and Science Communicator will be Chief Guest of the function and Lt Gen (Dr) M D Venkatesh, Vice Chancellor, MAHE, Manipal will be the guest of honour. Dr H S Ballal, Pro Chancellor, MAHE, Manipal will deliver the Presidential Address.

Ever since 1987, February 28 is designated as National Science Day and it is being annually celebrated all over India to commemorate discovery of Raman Effect by Sir CV Raman in 1928.The objective of designating February 28th as National Science Day is to spread the importance of science and its application to all aspects of human life by showcasing the developments and implementation of science. 

For the past 21 years, Manipal Academy of Higher Education (MAHE), has been celebrating National Science Day on February 28th by promoting number of activities among the high school and higher primary school children in the region during the preceding two months. In addition, MAHE has been hosting bright and interested students for “Experience the Laboratories” residential hands-on science training at the Manipal School of Life Sciences (MSLS) culminating with science day celebrations.

During this year’s function best science models, drawings and elocution winners will be recognized by the Chief Guest Mr. Rohith Chakrathirtha, Pro Chancellor of MAHE, Dr HS Ballal, Vice Chancellor of MAHE, Lt Gen (Dr) MD Venkatesh and Registrar of MAHE, Dr Narayana Sabhahit.   

TransUnion CIBIL Partners With FICCI On A Unique Nation-Wide MSME Consumer Education Program

* Initiative to reach over one thousand MSMEs across MSME clusters to create credit awareness and help improve their credit profile for easier and faster access to credit

TransUnion CIBIL has partnered with the Federation of Indian Chambers of Commerce & Industry (FICCI) to launch a unique nationwide MSME consumer education program that will support MSMEs in gaining awareness of credit management, CIBIL Rank and commercial credit information. The program objective is to empower MSMEs with knowledge on how to build a good credit history and CIBIL Rank to avail easier and faster access to finance. This program will kick off with MSME clusters in Maharashtra, Assam and Tripura and aims to reach thousands of MSMEs across key MSME clusters in India. 

TransUnion CIBIL is committed to supporting banks and credit institutions in sustainable growth of their MSME portfolios while improving reach and driving access to finance for MSMEs. In addition to offering MSME lenders solutions like CIBIL Rank and commercial credit reports for astute lending, TransUnion CIBIL also publishes insights reports like the MSME Pulse in association with SIDBI and the recent Emergency Credit Line Guarantee Scheme (ECLGS) analysis report to support policymakers and the industry with market insights on the MSME sector. CIBIL Rank assigns a rank to the MSME based on its credit history data on a scale of 1-10, CIBIL Rank -  1 being the best possible rank and CIBIL Rank - 10 being the riskiest rank.

Commenting on this partnership, the Chief Operating Officer of TransUnion CIBIL, Ms. Harshala Chandorkar, said: “The MSME sector forms the backbone of India’s economy and can act as a catalyst for growth. Insights show that only about one-third of MSMEs in India are served through the formal credit ecosystem, indicating significant opportunities for increasing credit penetration in this key sector. CIBIL Rank and commercial credit information have played a pivotal role in helping credit institutions formulate risk policies, digitize CIBIL Rank based lending and drive faster, easier and more judicious disbursement of loans to MSMEs. With the launch of this program, we aim to drive even greater awareness amongst MSMEs and empower them to build their CIBIL Rank for accessing faster and affordable financial opportunities”

Speaking about the partnership, Ms. Jyoti Vij, Deputy Secretary General, FICCI, said: “Lack of financial awareness is often cited as one of the key roadblocks for MSME development, which is a high priority segment for India’s economic growth. FICCI is delighted to partner with TransUnion CIBIL, India’s pioneer credit information company and a systemically important entity in our country’s financial infrastructure, on this very crucial program for MSME development. By driving credit awareness amongst MSMEs, we aim to contribute to the government’s endeavors on the resurgence of the MSME sector.”   

To assess the impact of the ECLGS, TransUnion CIBIL recently undertook a loan analysis study* based on ECLGS 1.0 and 2.0 disbursals made up to 31 March 2021. As part of this study, TransUnion CIBIL surveyed MSMEs from across geographies. The survey findings indicate that 65% of MSMEs believe that the ECLGS credit infusion has helped their business through financial troubles and 68% were confident about a future positive outlook**. About 85% of respondents also acknowledged that their TransUnion CIBIL credit history has played a critical role in facilitating ECLGS disbursals. 

The liquidity provided under the ECLGS scheme has resulted in a reduction in average credit balances for borrowers availing the scheme. Average balances have dropped by 17% between March 2020 and March 2021 for borrowers availing the scheme compared to a drop of 8% for borrowers not availing the scheme. The very small category of borrowers and micro segment of borrowers reduced their average balance by 33% after availing of the ECLGS facility, whereas small and medium segments showed a balance decrease of 22% and 14% respectively. For all segments, eligible borrowers who did not avail of the facility had a balance decrease of less than 10%.

“With several banks and credit institutions offering better rates of interest for MSMEs with a good CIBIL Rank, it becomes even more vital for MSMEs to understand the composition of CIBIL Rank and its salient features. We believe that this partnership program with FICCI will go a long way in strengthening India’s MSME sector towards its contribution in achieving our economy’s 5 trillion growth objective”, concluded Harshala. 

* Based on Emergency Credit Line Guarantee Scheme (ECLGS) data provided by National Credit Guarantee Trustee Company Ltd (NCGTC), TransUnion CIBIL Ltd has conducted the study to access the impact of ECLGS with an objective to see it from the lens of a borrower, lender and sector at large. The study is based on ECLGS 1.0 and 2.0 disbursals made up to 31 March 2021

** Survey conducted by TransUnion CIBIL based on data provided by NCGTC of MSMEs from across geographies. A sample of 756 responses were analyzed and findings included in the report.  

 About TransUnion CIBIL 

India’s pioneer information and insights company, TransUnion CIBIL makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace.  As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good®. TransUnion CIBIL provides solutions that help create economic opportunity, great experiences and personal empowerment for millions of people in India. We serve the financial sector as well as MSMEs, corporate and individual consumers. Our customers in India include banks, financial institutions, NBFCs, housing finance companies, microfinance companies and insurance firms.

For more information visit: www.transunioncibil.com 

About Federation of Indian Chambers of Commerce & Industry (FICCI)

Established in 1927, FICCI is the largest and oldest apex business organization in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. 

A non-government, not-for-profit organization, FICCI is the voice of India's business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies. 

CollegeDekho Group Acquires Getmyuni And IELTSMaterial - Becomes Largest Student Enrollment Platform In India

CollegeDekho Group has acquired Getmyuni and IELTSMaterial to become the largest student enrollment platform in India in a deal valued over INR 50Cr.  

The acquisition enables CollegeDekho Group to hit a 4x revenue run rate growth over its last year’s numbers and scale further to maximise its growth this year. 

CollegeDekho and Getmyuni collectively cater to 50% of all college searches in India. With this partnership, CollegeDekho and Getmyuni collectively become the largest student enrollment platform in the country collectively driving more than 25Cr annual student traffic and facilitating 30K+ enrolments across almost 2000 partner colleges. 

Acquiring IELTSMaterial will also enable CollegeDekho to scale its recently announced online learning vertical CollegeDekho Learn by adding English Testing Exam preparation capabilities for exams like IELTS, TOEFL, PTE, and OET which will further boost its fast-growing study abroad business. 

“Like CollegeDekho, Getmyuni, works with the top universities and helps them with their admission solutions. While CollegeDekho’s focus area continues to fulfil end-to-end enrollment mandates of universities, Getmyuni will continue helping institutes with leads and branding solutions. We envision these as two complementary services, which will enable any university working with us to supercharge their enrolments. The acquisition of IELTSMaterial.com will help us enhance CollegeDekho Learn even further whilst strengthening CollegeDekho Study Abroad too." said Ruchir Arora, Co-Founder and CEO of CollegeDekho. 

"While Getmyuni was anyway a great fit with CollegeDekho Group, we are equally excited about scaling our respective learning verticals given the tremendous success of IELTSMaterial.com, which has hit a 20K online learner run rate in just under a year since inception" said Upneet Grover, Founder and CEO of Getmyuni. 

CollegeDekho Group now runs multiple businesses across student enrollment, study abroad, online learning, education lending and is looking at more avenues for inorganic growth. 

Getmyuni’s founding team will join CollegeDekho’s senior leadership and continue to operate independently as this adds fundamentally additive value to the partner universities. 

CollegeDekho recently raised $ 35mn in its Series B funding round and is fast becoming a leading EdTech juggernaut in the higher education space. 

About CollegeDekho  

Founded in 2015, CollegeDekho is on a mission to institutionalise students’ counselling in India in the higher education space. It connects prospective students with colleges using its proprietary technology and AI-based chat conversation bot. Its Common Application Form platform, which enables students to apply to multiple colleges with a single click, is India’s largest of its kind. Since its inception, CollegeDekho has counselled more than 2 million students and has helped almost 2000 colleges with their student recruitments. For study abroad students, CollegeDekho provides a full range of services from profile building, test preparation, university selection and visa assistance. The company recently announced a Fintech vertical that offers students with end-to-end financial assistance and CollegeDekho Learn, an online learning platform that helps students prepare for their future course of studies and placements. The startup is backed by investors like ETS, an organisation responsible for conducting GRE and TOEFL exams globally. (www.collegedekho.com)  

Reliance General Insurance Participates In The PMFBY’s Policy Distribution Drive - “Meri Policy Mere Hath”

 

Reliance General Insurance Company Ltd (RGICL), India's 4th largest private general insurance company, has announced its participation in the Pradhan Mantri Fasal Bima Yojana's nationwide Doorstep Crop Insurance Policy Distribution Mega Drive - 'Meri Policy Mere Hath' under 'Azadi Ka Amrit Mahotsav Campaign – India@75'.The Company fully supports the initiative and is committed towards playing its part in building a better financial ecosystem for the farmers. 

To drive the initiative effectively, Reliance General Insurance has set up special camps at gram panchayat/village level to educate farmers, who are enrolled with Reliance General Insurance under the PMFBY, about their existing crop insurance policies. Through this initiative, the farmer will receive first-hand information, and details of their crop insurance such as sum insured amount, types of crops insured and the premium amount. The Company will also distribute physical documents of the existing policies to the farmers. Having these documents handy will ensure hassle-free claim settlement for the farmers in the future. Furthermore, the initiative will also give the farmers a platform to share their feedback, queries and grievances directly with the insurance company.  

Commenting on this unique initiative, Rakesh Jain, CEO of Reliance General Insurance, said, "We welcome the initiative and give our extensive support to this exceptional drive. Agriculture provides livelihood to nearly 60% of our population. However, risks of natural calamities, large rain-fed areas, pests, and disease make agriculture a highly volatile sector. Thus, Pradhan Mantri Fasal Bima Yojana was introduced to provide financial protection to the farmers against any such unforeseen events. 'Meri Policy Mere Hath' initiative takes the Govt.’s effort one step ahead by empowering farmers through crop insurance awareness and by bringing insurance policy to the farmers' doorsteps. It will also help increase direct communication between the farmers and insurance companies and increase their trust in insurance companies and PMFBY."  

The Company will also distribute a FAQ leaflet in regional languages to inform farmers all about crop insurance. 

About Reliance General Insurance 

Reliance General Insurance, a part of Reliance Capital, is one of the leading general insurance companies of India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance, and offers customized solutions to meet the protection needs of each customer. Reliance General Insurance has a wide network of more than 62,000 intermediaries across 128 branch offices across India for offering its products and services to retail, corporates and SME clients.  

www.reliancegeneral.co.in | www.facebook/RelianceGenIn | @RelianceGenIn 

General MM Naravane Inaugurates Third Edition Of Ahmedabad Design Week At Karnavati University

* The three-day design confluence, ADW 3.0 is themed on Design and Innovation In Defence and Aerospace; Thought Leaders, Startups, Investors from Defence Design Fraternity participated in the event

Honourable General MM Naravane, Chief of Army Staff, Indian Army on Saturday inaugurated the third edition of Ahmedabad Design Week (ADW)– a melting pot of ideas and insights – organised by Karnavati University, based in Uvarsad, Gandhinagar. Karnavati University is a state private university dedicated to excellence in teaching and is focused on interdisciplinary learning. This year’s theme for ADW 3.0 is Design and Innovation in Defense and Aerospace – a topic of strategic importance.

Shri Prahalad Kakkar, Founder, Genesis Film Production, along with Air Marshall Ravinder Kumar Dhir PVSM, AVSM, VM, ADC (retired) and Advisor to Gujarat state for Defence and Aerospace Industries, were present during the inaugural ceremony held at the varsity.

In his opening remarks, Shri Ritesh Hada, President, Karnavati University, said, “Karnavati University is a design-centric university and we aim to support and accelerate the Make in India cause through design and innovations.”

During the inaugural address, General M.M. Naravane also spoke about the four Ds of Design – Discover, Define, Develop and Deliver. Speaking of the importance of design and its applications in the defence sector, he said, “The Indian Army has recently embarked on a programme for future ready combat vehicles. Both these are at conceptualization stage and we are open to ideas. The future in aerospace and defence is electric in the way things are going to change. As we go ahead more and more electricity-based equipment will come up that are not dependent on fossil fuel. There's a lot of work that can be done in the field of miniaturisation. We cannot afford to have large platforms. The size of our ship and aircrafts have to be small.”

“When you're designing something today, you must see where it will be 50 years from now. Requirements of the modern day battlefield are daunting and diverse. Designing a system that fits all in one is daunting. In designing, you must keep these aspects vital, essential and desirable in mind. If this aspect is kept in mind we would be able to do much better. For instance, a vehicle that can efficiently operate across all terrains or say develop a technology that makes potable water available easily in inaccessible areas. We are looking for technology solutions,” General Naravane further added.

Retired Air Marshall R. K. Dhir, who was also present during the inaugural ceremony, said, “National security is essential for a nation. A nation becomes strong through pillars of military power, diplomacy and even economic might. Self-reliance that breeds from the need to exist and survive is crucial and today, the industry is looking inwards for dependence. To achieve this, entrepreneurs and industry must take the lead now.”

“The national leadership is creating an ecosystem to make India strong. A leading manufacturing company may soon come into Gujarat for defence manufacturing. This is where the scientists, DRDO and others have to work together,” Air Marshall Dhir further went on to say.

Shri Prahalad Kakkar on the other hand, spoke on the criticality of defence manufacturing in India. He said, “Anything will function better when better designed. Today we sit in a world which is dangerous. India lags in its defence abilities not just for defence but even technology.  Today, even though we are late, but it is important to look at defence production. The business of war today is not about protected world wars but about economics. It is a country's abilities to sustain a war is what decides it's might, where our focus must be stationed.”

Guest speakers present during the session include Lieutenant General KJS Dhillon, PVSM, UYSM, YSM, VSM (retired), Former Director General, Defence Intelligence Agency; Dr Sudhir Mishra, distinguished scientist and former CEO and MD, BrahMos Aerospace; Wing Commander Saurabh Chauhan, Indian Air Force and Dr R Shivaraman, Co-Founder, Big Bang Boom Solutions.

The day concluded with a panel discussion on Defence R&D in India – Designing for 2050 The Road Ahead at ADW 3.0 by RAdm Rahul Kumar Shrawat, AVSM (retired), CMD, Naval Group India; Lt Gen BS Jaswal, PVSM Bar to AVSM, VSM (retired); Major General Ashwani Kumar Channan, PVSM, SM (retired), Dr Greg Autry; Dr Sudhir Mishra; Col. Hariharan Shankar (retd); Leo Peter Charles; Group Captain, Ajay D Purandare, VSM, Mention – in-Despatches (retired).

Vice President Of India M. Venkaiah Naidu Unveils Sports And Arts Complex At Greenwood High International School

Greenwood High International School, a renowned educational institution in the country, witnessed an inauguration of L’ATELIER – An Ensemble of Fine Arts & State of the Art Indoor Sports Arena at its Sarjapur Campus in Bengaluru by Shri M. Venkaiah Naidu, Honourable Vice President of India, in the presence of many other dignitaries including Shri. Thaawarchand Gehlot, Honourable Governor of Karnataka and many other noted personalities. The new complex offers globally comparable infrastructure for sports and co-curricular education.

The school’s Centre for Sports Excellence (CSE) is a world-class integrated sports arena built on two lush acres exclusively dedicated for sporting. The complex offers state-of-the-art facilities in Sports for aspiring young talent to excel in their choice of sport. The sports facilities include natural grass FIFA size football ground, AstroTurf soccer field, tennis courts and cricket pitches in grass with nets, top-of-the-line 50-meter swimming pools, world-class glass-backed squash court, shooting range, indoor basketball and badminton courts, golf simulator with professional golf clubs & data analyzer setup amongst many other facilities.

The dedicated Block for Arts, Drama & Music with state-of-the-art facilities aims to encourage creative and artistic individuals who see arts as a way of life. The complex has sound-proof music rooms with world-class acoustics to develop students’ varied talents. The other facilities include Arts Room to conceptualize and paint artistic canvases, Arts Gallery to showcase the artworks created by the students indigenously, Drama Room, Music Room, Design Tech Room for Design thinking and creative ideations using latest tech, Music Studio for producing sound records and grooming the School Band, Dance Studio for choreography of classical & contemporary dance forms and Soundproof Music Production Room for Music recording and streaming etc.

Addressing the students and the gathering, Shri. M. Venkaiah Naidu, Honourable Vice President of India said: “It is an honor to be amidst you on this special day. A healthy body is essential for a healthy mind. Thus, Sports & Co-curricular Education plays an indispensable part in the growth and molding of young minds. He also spoke on the importance of our mother tongue and how students should be encouraged to learn their mother tongue. He advised students to respect our mothers, nature and our gurus and always respect our culture and diversity. Furthermore, he motivated students that with discipline, dynamism, dedication and devotion will give you promotion in life.

Shri. Thaawarchand Gehlot, Honourable Governor of Karnataka said: 'Our country has made great strides in the field of education, and I am glad to know that Greenwood High International School’s contribution is commendable. He praised the school to have received numerous prestigious awards over the years. He also mentioned that special attention should be given to all-round development of the students in the field of sports, arts, dance and music apart from imparting quality education. He further wished the students to achieve greater heights in the world and make our country proud.

Mr. Bijay Agarwal, Chairman, Greenwood High International School said: “It was indeed a great honour for us to have the Honourable Vice-President of India, Shri M Venkaiah Naidu Ji as our Chief Guest, as we inaugurated L’atelier, our Centre for Fine Arts and our state-of-the-art Indoor Sports Arena. We were also delighted to have in our midst Shri Thaawarchand Gehlot Ji, Honourable Governor of Karnataka, as our Guest of Honour. We are grateful for the many dignitaries, artists and sports stars, who graced this occasion. This marks a step forward in our mission to help our students develop in a holistic manner, with an all-round education. The untiring efforts of our school faculty have made Greenwood High a leading educational institution not only in India, but also on the global stage.