AIC Pinnacle Launches “EvolutioNari Women Entrepreneurs Program”, To Empower And Nurture The Entrepreneurial Spirit Of Women

AIC-Pinnacle Entrepreneurship Forum, a leading incubator supported by the Atal Innovation Mission (AIM) -NITI Aayog, Government of India, is excited to unveil “EvolutioNari Women Entrepreneurs Program”, its latest initiative designed to empower and nurture the entrepreneurial spirit of women.

Launched by Pinnacle Industries in 2023, EvolutioNari has been instrumental in promoting gender diversity and fostering an inclusive workplace. This multifaceted program aims to support women at every stage of their career journey, offering them opportunities to re-enter the workforce, explore new business ventures, and advance their careers across various sectors.

Building on the success and positive impact of EvolutioNari, AIC-Pinnacle is proud to announce its own dedicated initiative exclusively for women entrepreneurs. Evolutionari Women Entrepreneurs Program (WEP) is a 6-month long incubation program, designed to further encourage and support female entrepreneurs by providing them with a unique opportunity to join a carefully curated cohort of 10 women entrepreneurs.

By creating a dedicated space for women entrepreneurs, AIC-Pinnacle seeks to build on the momentum of EvolutioNari WEP and extend its benefits to a broader group of women entrepreneurs. This program will have over 100 mentors spanning across various sectors and geographies. Mentors are allotted based on the need and requirement of the start-up.

Former ARAI director Rashmi Urdhwareshe; Cofounder and CTO at Railofy Hrishabh Sanghvi; Acuitas TechComm director Dr. Rijwan Pinjari; are some of the mentors who would be guiding the female business leaders in their entrepreneurial journey.

At AIC-Pinnacle, 3 women-led ventures - Krishigati Pvt Ltd, Serenum Products Pvt Ltd and Mommy Mills Foods Pvt Ltd. have already demonstrated remarkable potential and have benefited immensely from the incubator’s resources and expert guidance. These women led startups have received comprehensive support including mentoring, technical assistance, networking opportunities, and substantial funding comprising of grants from MeitY startup Hub, Atal Innovation Mission and Startup India Seed Fund (SISFS). 

“The goal of this program is to create a nurturing environment where women can excel, innovate, and lead as entrepreneurs. For our previous cohorts, we have been receiving applications from women entrepreneurs across diverse sectors. To increase the percentage of women entrepreneurs, the incubator focus is more towards generating viable and innovative ideas first. We are confident that if women entrepreneurs come up with such ideas, our dedicated team of incubation managers, acceleration managers and mentors can support to commercialize them”, said Mr. Sunil Dhadiwal, CEO of AIC-Pinnacle Entrepreneurship Forum.

EvolutioNari WEP will offer a comprehensive support system, including mentorship, networking opportunities, and resources tailored to the needs of women entrepreneurs. The program’s funding will be determined based on the ideas and needs presented by applicants, ensuring that each participant receives the necessary support to succeed and achieve their goals.

Sector Focus – EvolutioNari WEP is sector agnostic, open for all the sector preferably tech based.

Eligibility – any female entrepreneurs above 18 years of age is encouraged to apply. Industry experience is not required. Freshers with good ideas can also apply.

Duration – 6 months (weekly 2 hours of virtual sessions will be conducted for 3 months)

How to Apply – please fill in this form - https://forms.gle/TZTv4aGXT9AwtF8T9 or contact +91-9307305181

Dates to Remember – Application deadline is 31st August 2024. Selection will be announced in mid-September 2024. Program commences from October 2024 onwards.

Since its inception in 2017, the incubator has supported over 86 startups across various sectors including Electric Vehicles, Agri-tech, Health-tech, IT, IOT, Clean Energy, Social Innovation and many more. With a robust ecosystem that includes state-of-the-art facilities, strategic industry partnerships, and mentorship from over 100 experts, AIC-Pinnacle provides more than just financial assistance.

The incubator’s existing programs, such as EMERGE, EVOLVE, and ELEVATE, have collectively generated over 35 Intellectual Property Rights applications and created more than 250 jobs, contributing significantly to India’s innovation ecosystem.

Women entrepreneurs interested in joining this transformative program are encouraged to apply and become part of this initiative aimed at reshaping the future of women in business.

Join us as we pave the way for a more inclusive and dynamic entrepreneurial ecosystem.

Funskool To Manufacture & Distribute One Of The World’s Most Popular Board Game CATAN®

~ After obtaining manufacturing rights from international entertainment leader Asmodee, CATAN hits the market in India.

Funskool India Ltd., leading toy manufacturer, adds yet another blockbuster to their growing list of international-licensed board games, by acquiring the rights from Asmodee to manufacture and distribute one of the world’s most popular board game CATAN®.  

Asmodee, a leading entertainment company specializing in tabletop games, sold over 110 Million games and accessories in over 50 countries this past year while also recording a sale of over 45 million units of Catan in 40+ languages, worldwide.

CATAN is a powerful, universal story of the quest to explore the world, to discover, trade and build. Rooted in strategy and exploration, it’s all about mastering the variable landscapes. CATAN’s story is rooted in values, history, mystery and mysticism. Guarding nature’s core secrets, it invites virtually limitless exploration. 

The best part about the domestically-made CATAN game is that it comes at a special price of Rs 3499 in the hands of more players in India. Additionally, any English language CATAN expansions can be used with it.

Sharing details about the development, R Jeswant, CEO of Funskool India Ltd, said, “We are excited about bringing the most popular board game CATAN to India. Our customers will get to experience a Made in India product with international quality. CATAN is a great option for all above 10 years, as it stimulates strategic thinking and decision making. This is a milestone for our group and strengthens our contribution to the Make in India drive.  We are looking at collaborating with many other international toy brands and bring in a lot of interesting options for the Indian customers.” 

Alexia EBNER, Head of International sales at Asmodee said, “We are delighted to associate with our long-term partner Funskool to produce, market and distribute one of our flagship games - CATAN - in India. India being a crucial market for Asmodee, we look forward to this collaboration and we expect CATAN to become a very successful game in India through this partnership as it is in many other parts of the world.”

Funskool India has always focused on growing in India by nurturing associations with international brands. The new rules on mandatory certification from the Bureau of Indian Standards for import of toys makes Funskool India a perfect partner for international toy manufacturers to entrust their iconic games to be manufactured in BIS-certified Funskool factories.

Thomas Cook India & SOTC Travel launch Customer Self-Service App

*         Empowering holiday customers with end-to-end post-booking services

*         Comprehensive details, real-time updates and tracking of holiday bookings

*        Access and download key documents - visas, itineraries, tickets, hotel vouchers, invoices, receipts

Building momentum on its digital-first strategy, Thomas Cook (India) Limited - India’s leading omnichannel travel services company and its Group Company, SOTC Travel, have launched a Customer Self-Service (CSS) holiday app. Available for both iOS and Android users, the app offers customers a seamless end-to-end post-booking experience.

Traditionally, the post booking process was time-consuming and stressful for customers – involving coordinating for various elements including visas (getting details on documents required, visa forms, processing time and tracking), flights, hotel vouchers, itinerary, attractions, invoices and receipts. Hence, Thomas Cook and SOTC’s innovative CSS app will now serve to empower customers with a convenient, easy-to-access interface - making their post-booking experience simple and intuitive.

Having piloted the CSS app in April 2024, the app has seen significant enhancements and currently enjoys a strong customer adoption of 50%.

Key features of the Customer Self-Service app:

Comprehensive Booking Details: Customers can view all aspects of their booked trips, including flights, hotel reservations, sightseeing schedules, transportation, guides, and meal preferences

Instant Accessibility: Round-the-clock access from any location

Travel Documentation: Customers can now access important travel documents such as flight tickets, visa document requirements, process and downloadable forms, hotel vouchers, and insurance details on the go

Real-Time Updates: invaluable visa status tracker, updates on weather conditions and other critical travel information significantly reducing the turnaround time for customers

Omnichannel advantage: The app is channel agnostic and hence available to customers who have booked  online, offline or a combination thereof

Mr. Rajeev Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India) Limited said, “We are consistently exploring ways to deliver a truly seamless experience for our customers. I am hence delighted with the launch of our CSS app - that empowers our customers with simplified post-booking services at their fingertips. With the festive season approaching, this launch is perfectly timed to elevate our customers experience for their upcoming holidays.”

Mr. Daniel D’Souza, President & Country Head - Holidays, SOTC Travel said, “With a legacy of 75 years of being an Indian-entrepreneurial brand, SOTC believes that ‘no one understands the Indian traveller better than SOTC’. Whether customers book their trips online or through our stores, we understand that the post-booking phase can be a stressful period. Through the launch of our innovative CSS app, we look forward to providing our customers with the comfort and convenience of a smooth post-booking experience.”

Sify Technologies Announces Appointment Of Sharad Agarwal As CEO Of Sify Infinit Spaces Limited

Sify Technologies Limited (NASDAQ: SIFY), India’s leading Digital ICT solutions provider with global service capabilities spanning Data Center, Cloud, Networks, Security and Digital services, today announced the appointment of Mr. Sharad Agarwal as the Chief Executive Officer of Sify Infinit Spaces Limited, wholly owned subsidiary of Sify Technologies Limited.

Sharad moves into this role on the strength of his technopreneurship across several domains like ecommerce, logistics, retail, Cloud and Data Center. An active industry veteran, he comes equipped with a combination of sales and project management skills that will help him expand the footprint and acceptance of Sify’s data centers.

Prior to Sify, Sharad was at Vantage, where he was mandated to build their Data Center business. This was preceded by a long stint at Amazon Web Services where he front-ended capacity delivery for an APAC region.

Chairman of Sify, Mr. Raju Vegesna, said, “Sharad brings a valuable blend of entrepreneurial and managerial experience in the data center domain across the APAC region. This diverse background positions him well to drive our strategic initiatives and operational excellence. His insights and proven track record will contribute significantly to advancing our objectives and reinforcing our leadership position in the industry”.

Mr. Agarwal, said, “I have followed Sify’s remarkable journey as they evolved as a Data Center leader. This impressive growth trajectory underscores Sify’s commitment to innovation and excellence. My mandate is to maximize Sify’s potential across the entire ICT value chain by focusing on strategic growth and operational efficiency and by delivering cutting-edge solutions and unparalleled value to our clients and stakeholders.”

About Sify Technologies

A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.

Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.

More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Digital services and conduct their business seamlessly from more than 1700 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.

Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.

Igus India Strengthens Its Presence with Major Expansion; Inaugurates 92,000 sq ft Manufacturing Plant in Bengaluru

• Plans to invest over Rs 100 crores (12 million euros) in new facility; Focuses on new emerging industries like semiconductors and renewable energy News Summary

• Opening of a new two-acre, 92,000 sq ft manufacturing plant in Mandur near Budigere, Bengaluru

• Focusing on new industry like semiconductor and renewable energy

• Igus anticipates impressive revenue growth, with an expected revenue of Rs 340 crores this year

• Plans to establish logistics and assembly centers in Pune, Gurugram, and Noida

In a strategic move to fortify its footprint in the Indian market, Igus, a global leader in motion plastics, has inaugurated a state-of-the-art, 92,000 sq ft manufacturing plant in Mandur near Budigere in Bengaluru. This development marks a significant milestone for Igus India, as it prepares to focus on new divisions dedicated to the semiconductor and renewable energy sectors, areas poised for substantial growth. The expansion is part of Igus’s long-term strategy to enhance its operational capabilities and support its extensive customer base in India.

Igus India, a wholly-owned subsidiary of the German-based Igus GmbH, has been a major player in the motion plastics industry since its establishment as a subsidiary in 2000. With over 19,000 customers in India, Igus India has built a robust presence. The company boasts an extensive catalogue of 125,000 parts, which can be used for innumerable customer demand-based assemblies done locally. On an average over 200 new products are introduced annually, underlining its commitment to innovation and customer satisfaction.

The new Bengaluru facility represents a substantial investment of over ?100 crores (approximately 12 million euros), underscoring igus’s commitment to the Indian market. The financial allocation includes ?20 crores for setting up the factory, ?40 crores for advanced injection moulding machines, and ?20 crores for the manufacturing process. The plant is equipped with cutting-edge technology and infrastructure designed to meet the high standards of motion plastics production, ensuring that Igus India continues to deliver world-class products to its customers. We are still also on a look out for purchasing own land.

Deepak Paul, Managing Director of Igus India, emphasized the strategic importance of this expansion, stating, “The Indian market presents tremendous potential for Igus, as demonstrated by our continued growth and investment here. Our objective is to deliver cutting-edge products and solutions not only to our customers in India but also on a global scale. Igus’s global focus on cost-sensitive and sustainable solutions, encapsulated in our motto ‘Tech up, cost down,’ is perfectly aligned with the Indian approach to technology and innovation. This alignment has been a key driver of our significant growth in the country. As we look forward, our plans include expanding beyond Bengaluru, with logistics and assembly centers set to be established in Pune, Gurugram, and Noida.”

Igus India is currently the 6th largest subsidiary among Igus’s 38 global subsidiaries, a position that reflects its strong performance and growth potential. Over the past two years, Igus India has doubled its market growth, with revenue figures climbing from ?199 crores to ?313 crores. The company expects this upward  trajectory to continue, projecting a revenue of ?340 crores for 2024. Additionally, Igus India has invested in a clean room testing facility in Germany and plans to establish a similar setup in India, further enhancing its product development and quality assurance capabilities.

Santhosh Jacob, Country Manager and Director of Igus India, added, “Technology and innovation are at the core of everything we do at Igus. With a catalogue of 125,000 parts and 247 new products introduced this year, we are constantly inspired by our customers’ needs to push the boundaries of what is possible. Our ongoing expansion of the motion plastics product world, coupled with the integration of digitalization and AI, is a testament to our long-term corporate strategy. We are making significant progress in embedding digitalization as a key technology at Igus, which will play a crucial role in our future growth and success.”

Talking about Igus’ focus on sustainability and commitment to the environment, Igus will focus on the emerging semicon and renewable energy businesses by investing on people, and participating in Industry specific shows with the presence of Industry specialists from Germany.

About Igus:

Igus GmbH develops and produces motion plastics. These lubrication-free, high-performance polymers improve technology and reduce costs wherever things move. In energy supplies, highly flexible cables, plain and linear bearings as well as lead screw technology made of tribo-polymers, igus is the worldwide market leader. The familyrun company based in Cologne, Germany, is represented in 31 countries and employs 4,600 people across the globe. In 2022, igus generated a turnover of €1,15 billion.

Research in the industry's largest test laboratories constantly yields innovations and more security for users. 234,000 articles are available from stock and the service life can be calculated online. In recent years, the company has expanded by creating internal startups, e.g. for ball bearings, robot drives, 3D printing, the RBTX platform for Lean Robotics and intelligent "smart plastics" for Industry 4.0. Among the most important environmental investments are the "chainge" program – recycling of used e-chains - and the participation in an enterprise that produces oil from plastic waste.To Know more log on to: https://www.igus.in/  

Marriott International's 600th Property In Asia Pacific Excluding China Celebrates Flagship Brand With Opening Of Adelaide Marriott Hotel

Marriott International, Inc. (Nasdaq: MAR) today announced the opening of its 600th property in the Asia Pacific excluding China (APEC) region with the Adelaide Marriott Hotel. Paying homage to the company’s flagship brand, the opening marks the first Marriott International property in South Australia, underscoring the company’s focus on growing its presence in emerging destinations.

With the 150-year-old landmark Adelaide General Post Office (GPO) building as its façade, the Adelaide Marriott Hotel boasts a 14-storey tower with 285 guestrooms, including 12 suites with sweeping views of the city skyline. This opening aligns with the rising trend of domestic and intra-regional travelers seeking unique travel experiences in new destinations closer to home.

Marriott Hotels, the flagship brand of Marriott International, has had a rich heritage rooted in family values since its inception in 1957.  The first Marriott Hotels hotel in the APEC region opened in Sydney in 1989 with the Sydney Harbour Marriott Hotel at Circular Quay. Today, there are over 50 Marriott Hotels operating in the region, with close to 40 in the pipeline. This growth is a testament to the trust and confidence that owners, franchisees, and guests have in the Marriott Hotel brand, which carries a legacy of wonderful hospitality and heartfelt service.

“We are thrilled to celebrate our 600th property milestone in the region with the Adelaide Marriott Hotel, a brand that bears the name of our founding family,” said Rajeev Menon, President, Asia Pacific excluding China, Marriott International. “With 600 operational properties across the APEC region and close to 400 in the pipeline, our growth trajectory is robust. Our strategy to be everywhere our guests want us to be is further reinforced by our recent announcement of plans to enter the midscale hospitality segment, providing more opportunities to extend our portfolio presence in new markets and beyond the major gateway cities."

Marriott International’s growth strategy includes a focus on giving back to the communities in which it operates to help drive long-term economic impact. With over 95,000 associates from both managed and franchised properties in the region, Marriott International has been instrumental in creating job opportunities and nurturing the next generation of talent. By the end of 2024, nearly 10% of Marriott International managed associates would have taken new roles within APEC, which will allow them to deepen their skillsets and further their work experiences. Marriott’s recent certification as Great Place to Work in 8 APEC countries, including Australia, demonstrates the company’s dedication to putting people first.

Zomato Acquisition To Bolster Going-Out Business

BUY

Information Technology  

Company Update  

August 22, 2024

TARGET PRICE (Rs) : 270

Zomato has announced the acquisition of Paytm's entertainment ticketing business for a cash consideration of ~Rs20.5bn (~1.0x trailing EV/FY24 GOV). The acquisition gives size and scale to Zomato's ‘going out’ business, acting as an additional growth engine over the medium-to-long term. It also lends credence to the company's aim of building a one-stop destination for ‘Going-out’ and would be part of the new ‘District’ app (to be launched in the next few weeks). Mgmt. believes that going-out experiences will continue to see strong growth, with overall growth in lifestyle and consumption. Post-acquisition, the management estimates going-out GOV at >Rs100bn in FY26. Mgmt. expects the going-out business to operate near break-even on adjusted EBITDA basis, while potentially delivering 4-5% adjusted EBITDAM as a % of GOV over the medium-to-long term. Mgmt’s strong execution track record grants confidence that going-out will add further value over the long term. We will consider the acquisition in our estimates after deal closure. We retain BUY with TP of Rs270.

Deal contours

Zomato has entered into definitive agreements for purchase of Paytm™s entertainment ticketing business, including movies, sports, and events (live performances) ticketing for ~Rs20.5bn. As part of the agreement, Zomato will enter into a Share Purchase and Subscription Agreement (SPSA) with One97 Communications (OCL), Wasteland Entertainment Private (WEPL), and Orbgen Technologies Private (OTPL), to acquire their entertainment ticketing business. As part of the transaction: 1) OCL movies and events ticketing businesses will be carved-out and transferred by way of slump sale to OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively. 2) Zomato will do a primary infusion into OTPL and WEPL for an amount equal to the slump sale consideration, which will be used to discharge the consideration payable to OCL for the slump sale. 3) Simultaneously, Zomato will acquire 100% stake in OTPL and WEPL from OCL. 4) Post-deal closure, OTPL and WEPL will become wholly-owned subsidiaries of Zomato. The transaction is expected to be completed within 90 days of the execution of SPSA. As part of the transaction, ~280 employees will move to Zomato.

Expanding Going Out Presence

Zomatoâ going-out business comprises of two main segments: a) Dining-out, which includes discovery, table reservation, and transactions for dining-out across restaurants in India and the UAE. b) Zomato Live, which includes discovery and ticketing of events in India. Zomato™s going-out segment reported annualized GOV of ~Rs50.7bn in Q1FY25 with 0.8% adj. EBITDAM as a % of GOV. The acquisition of Paytm’s entertainment business will bolster Zomato’s going-out business. In FY24, the acquired business generated a combined GOV of >Rs20bn (29% YoY growth) by enabling purchase of 78mn tickets by >10mn unique customers on its platform. The acquired business reported revenue of ~Rs3bn and adj. EBITDA of ~Rs0.3bn in FY24 (translating into ~1.5% adj. EBITDAM as a % of GOV).

Plan to launch new app”District

Zomato plans to launch new app District™ in the next few weeks, to cater to use cases like booking movie tickets, IPL tickets, dining-out table reservations, discovering live entertainment, booking weekend getaways, etc. Following this acquisition, the going-out business would be spread across multiple different platforms: 1) Zomato™s existing going-out business would continue to run on the Zomato app, and 2) the acquired business (movie + sports + event ticketing) would continue to run on Paytm's main app (for a transition period of up to 12 months), along with Insider and TicketNew apps. In the short term, the District app will duplicate the offerings above and over time; it will gradually nudge customers to move to the District app.