Wednesday, May 21, 2014

From Present to Omnipresent, The Legend Lives On…




Tribute To Late Capt. C.P. Krishnan Nair By Mithu Basu

Indian hospitality feels orphaned with your passing away, Honorable Chairman. You have impacted too many lives in overwhelming ways. Twelve years ago, same month was when I first met you. I remember the interview. Three hours at The Great Wall, an elaborate Chinese meal and you relating your life journey through fascinating stories.  Enraptured, I realized, besides a few sounds of exclamations I hadn’t uttered a word and the job was mine! You later once said “I saw in you what you didn’t see in yourself”.  That was one of your sharp acumen and today so many stalwarts of the hospitality industry owe their discovery to you.

Not a man guided by the letters, you could instinctively smell a good idea and back it. Or vice versa deem a person stupid to have thought of an idea that didn’t meet your mind. Bouquets and brickbats would fly in with same speed. Those who didn’t buckle absorbed your mantra “think big, think fast and get into action”.  If ever there was a rating of corporate roller coaster life, The Leela under your stewardship would top the list. One could be hero to zero and back to hero all in a day. This mercurial challenge kept us on our toes. What always inspired me to look beyond your words was the gnawing hunger within you to demand only perfection. 

The Leela brand of hospitality can never be found in books, but books can be written about it. I remember the cine veteran Dilip Saab and Saira Banu were at our restaurant, you called to say ‘go and meet them’ I was uncomfortable, wouldn’t I be intruding on their privacy? But went all the same and we are till date friends for life and there are so many such acquaintances that bloomed because you first pushed. Your joy to meet people and give them your undivided attention is legendary. Your hospitable generosity is history. I remember a guest in our Leela Bangalore once got his breakfast of hot steaming idlis submerged in Sambar, without his asking, surprised he asked how? You had seen his name in the corporate VIP list of guests staying with us and remembered that he loved his idli’s served in this style and had left this specific instruction. Your small but stunning touches taught us that god is in the small details.

Every hotelier plans great welcomes, but you would say see your guest to the door and wave him goodbye, there is warmth in it and leaves lingering memories of a great stay. You always believed that hospitality has got to come naturally, there is no formula. If it gives you unadulterated joy, and makes you forget the ticking clock you were cut out for it. The gems of insights I received can go on to fill books. But most precious to me was when you stood on your toes while introducing me to a gathering of Management students and said don’t be fooled by her petite size, she is truly tall within. Once and for all I threw my grievance of being short and experienced seeing the world from a height. You empowered me with earned height that day.

You always endorsed ‘think on your feet’ rather than know all the rules, because no two situations are the same. That learning came alive in the middle of the Kerala backwaters, I was with a boat full of seven German journalists and the motor suddenly stopped. Panic gripped all for a flash of a second. Emulating the ostrich that digs its head into the sand to think that calamity does not exist. I got them to shut their eyes, saying I have stopped the motor to let them experience yogic silence. Chanting the Gayatri mantra I asked them to stay in meditation until I would chant a countdown and bring them back to open their eyes once again. Meditation under control I signaled the motor boy ‘we are out of oil will take me 10 more minutes to replenish.’ He soon gave me the thumps up, and I got the group back to wakefulness. They felt rejuvenated, I too felt the same but for reasons not the same. A month later our German President walked in saying Honorable Chairman we are in the leading German business paper ‘Die Welt’ for the yogic silence experienced through Leela hospitality. Your wah! when you heard my story, was a 'aha' moment I cherish until this day.

The lingering memory I want to hold is the clap of your hands and joy you expressed when I visited you recently unannounced at the hospital. Amid failing memory you remembered my Santiniketan stint and surprised all. You held my hand and said come home, I will be going home soon. You have comeback home today but forgive me, I could not bring myself to go home and see you 'still'

As I write, you are being consumed by the last rites. The flames believe that now you are with them, but the truth is the trees, gardens, the hearts of the people whose lives you have touched, family, friends, The Leela hotels every nook and corner hold you, your persona, your values and all that you taught by walking the talk.

Footprints get washed by the sand, memories may blur but legends move on from being present to omnipresent and live on forever. Honorable Chairman, sleep well.

YouthSpark Live To Mentor First Time Entrepreneurs





Microsoft India organized the first annual YouthSpark Live event in Bengaluru. Hosted in partnership with QUEST Alliance, YouthSpark Live is a two-day program to mentor first time entrepreneurs and job seekers. This year’s event helped young people explore careers in technology, hone their skills for 21st century jobs, and armed them with tools to kickstart their own entrepreneurial ventures. Close to 100 youth from 10 Indian states attended the event where they underwent two days of intensive training. Another 100 participated via webcast across 13 locations.

Keynoting  at the event here today,  Jean-Philippe Courtois, President, Microsoft International said,Youth in India can drive positive economic and social impact, but there is a need to empower them with the relevant employability and entrepreneurial skills. At Microsoft, we have many initiatives to help young people succeed. Over the course of the last decade or so, Microsoft India has invested more than $100 million (Rs 650 crores) in various initiatives to help young Indians realize their full potential. Microsoft is committed to taking Indian youth from the classroom to the boardroom.”

Talking about the global YouthSpark program to create opportunities for 300 million youth over three years, he further added: Through more than 30 programs, and partnerships with 186 youth-serving non-profits, in its first year alone Microsoft YouthSpark has created new opportunities for more than 103 million young people in over 100 countries around the world.”

At the event today, Courtois congratulated the three winners from the YouthSpark Live Challenge and presented them an award of services worth Rs 1.5 lakh each as seed funding to get their business started. The three winners are Chandrashekhar Bhuyan from TERcoms whose project is focused on informing rural poor about their rights and entitlements, with the aim  of empowering them through regular interface with the Government to push for corrective measures; Gaurav Mittal of Eye-D, short for EYE-Device, a microcontroller and phone combination to help the visually challenged with tasks like guidance, bus routing, face identification and colour identification; and Rahul Jacob, for RideIT.in, an online carpool matching service exclusively for working professionals.

YouthSpark Live is one of the many Microsoft youth focused programs. Over the last decade and more, Microsoft has been committed to making Indian youth more employable by arming them with skills that are in demand today. Starting in 2003 with Project Shiksha, Microsoft has been consistently adding to its bouquet of programs aimed at providing relevant skill development, employability and entrepreneurship skills for youth in India.

Manisha Girotra To Head Moelis & Company India



Mindtree, a global technology services company, appointed Manisha Girotra, the India CEO of a leading global independent investment bank, to its board of directors effective May 20, 2014. The board also elected Rostow Ravanan as an Executive Director in addition to his role as the CFO.

“As we move into the next phase of Mindtree’s growth, Manisha’s vast global experience will be a great asset in guiding our strategy and providing us with enlightened oversight. She is a nationally respected business leader known for her ability to drive change,” said Subroto Bagchi, Chairman, Mindtree.

“It is a great privilege to join the Mindtree board. I look forward to helping its outstanding management team in the making of a memorable company,” said Manisha Girotra.

Manisha Girotra is the Chief Executive Officer of Moelis & Company in India. She ran the India operations for UBS and Barclays de Zoete Wedd's investment bank. Manisha is a specialist in investment banking, mergers & acquisitions and wealth management. She has been nominated in Fortune’s Most Powerful Women in Business Club in 2011 and was honoured as a Young Global Leader 2010 by the World Economic Forum.

Rostow Ravanan, Chief Finance Officer, co-founded Mindtree in 1999. He was part of a team that has led Mindtree from an idea to IPO.  He is responsible for defining and implementing processes for good governance that has taken Mindtree to the list of Top 25 best-governed companies in India. CFO Magazine voted him in the list of Top 100 CFOs in India for four years.
  

i4C Announces Idea Challenge For Disruptive Ideas






i4C (Inter-Institutional Inclusive Innovations Centre) is a non-profit organization, established to support high potential innovations and make them market ready. i4C is based on a unique Public-Private-People-Media Partnership Model and is a joint effort of multiple individuals, institutes and companies who share a common goal of promoting the culture of innovation in India. The primary objective of i4C is to scout, showcase and mentor technology innovators and help them take to market innovations that have the potential to positively impact the quality of life of our citizens. 
As part of these efforts, i4C announced the i4C Idea Challenge-2014, a pan-India Idea and Innovation competition with the objective to identify disruptive ideas for solving problems relevant to a large cross-section of our population. The i4C Idea Challenge-2014 is open for all and ideas can be submitted online at www.i4C.co.in.  The last date for submission of Ideas is October 31, 2014.
Anand Deshpande, Founding Director of i4C and Chairman and Managing Director, Persistent Systems on the occasion of the launch said, “I am excited about the formation of i4C.  We have a large number of innovators in our country who have ideas that are simply outstanding.  It is our responsibility to build an eco-system to help these innovators take their ideas through various stages of development and to ensure that they can be mass-produced for the citizens of our country. I am delighted that i4C has made helping inventors its mission.” 
Second Founding Director, Arun Jamkar, Vice Chancellor, MUHS said, “Through ‘i4C Idea challenge’, an attempt is being made to systematically harness the creativity and energy of our youth; the ‘real demographic dividend’ for solving problems of our nation”. He further added, All the submitted ideas will be thoroughly screened through a multi-stage review mechanism and the truly innovative ideas will be felicitated, showcased and promoted aggressively. Possibility of funding the selected ideas would also be explored through the i4C network.”
Some prominent members supporting i4C include Dr. Arun Jamkar, Vice Chancellor, MUHS, Nashik; Dr. Anand Deshpande, Chairman, CEO & MD, Persistent Systems; Mrs. Pratima Kirloskar, President, Innovations Society, Kirloskar Brothers; Mr. Ravi Pandit, Chairman & CEO, KPIT; Mr. Hemant Joshi, Partner, Deloitte; Mr. Ganesh Natarajan, Vice Chairman & CEO, Zensar; Mr. Pramod Chaudhari, Executive Chairman, Praj Industries; Mr. Vivek Sawant, Managing Director, Maharashtra Knowledge Corporation Limited (MKCL); Dr. Anil Sahasrabuddhe, Director, COEP; Mr. Sunil Karad, Executive Director, MIT;  Mrs. Swati Mujumdar, Director of Symbiosis Centre for Distance Learning and Principal Director of Symbiosis Open Education Society, Symbiosis; Mr. Pradeep Bhargava, Director, Cummins India Ltd; Mr. Ajay Phatak, Vice President & Pune Center Head, Symphony Teleca; Mr. Abhay Gadgil, Partner, PN Gadgil and Sons; and Mr. Prataprao Pawar, Chairman, Sakal Media Group.
Mission of i4C:

* Productizing 100 innovations for positively impacting lives of 1.2 billion Indians in next 3 years.
Jump start an ‘Innovation Movement’ for transforming India.
* Celebrating the ability of Indians to innovate under constraints.
* Establishing the best and biggest platform in India for innovators to showcase their innovations to various funding agencies, industrial houses and masses.
* Encouraging Indian society to think ‘out of the box’ through ‘i4C Grand Challenge’ and ‘i4C Idea Challenge’.
* Harnessing the power of science, technology, and creativity to develop affordable and quality products.


Indian PE Investments at US$2.38b Across 99 Deals




Investments in the first quarter of CY 2014 have started on a positive note. PE firms have invested US$2.38 billion across 99 deals, a growth of 14 percent in value and 15 percent in volume over the preceding quarter. In Q4 of CY13, investments were worth US$2.08 billion from 86 deals. The findings are part of the PwC MoneyTree India report, a quarterly study of private equity investment activity based on data provided by Venture Intelligence.
Even when compared against the same period last year, i.e., Q1 ’13, the value of deals has doubled despite a 7 percent decrease in the volume. In Q1 ’13, the value of investments was $1.17 billionat  from 107 deals.
With 43 deals worth $908 million in Q1 of CY14, the information technology (IT) and IT-enabled services (ITeS) sector is yet again the leader in terms of value and volume. However, the sector has shown a 7 percent drop in deal value despite two additional deals in this quarter as compared to Q4 ’13. Within the IT and ITeS sector, the online services sub-segment received the highest level of investment worth $405 million from 19 deals. The ITeS-BPO services recorded a spurt in investments this quarter with one major deal, thereby ranking second in terms of value among the sub-segments. Investments stood at $265 million from a couple of deals in this reporting quarter.
Sandeep Ladda, leader, Technology, PwC India said, “We have seen yet another quarter of PE investments dominated by the IT and ITeS sector. It has been an interesting quarter, where most of the leading e-commerce companies have received investments for expansion. The infusion of funds in the online services segment will continue for the next couple of years for the following reasons:  (i) Most companies are in the growth stage and are scaling up (ii) Newer product lines such as baby products, food, niche apparel segments and pet products are now available online (iii) Global companies in the same line of business are investing in Indian companies indicating a probable acquisition in the medium to long-term. With growing competition in the online space, inorganic growth is likely to be the way forward for some of the global e-commerce players who are keen to establish their footprint in India.”

According to Sanjeev Krishan, leader, Private Equity, PwC, “The January to March 2014 quarter was a positive one with general buoyancy in the investment outlook. With the formation of a new government around the corner, future flows (for the rest of this year and the next few years) will hinge upon the stability of the new government and its stand on various policies and regulatory matters. The general perception is that the new government will undoubtedly adopt a friendly investment regime to provide a fillip to the overall economic growth of the country.

The energy sector has shown a surge in investments with an increase of almost eight times in value, from $52 million in Q4 ’13 to $414 million in this quarter with an additional deal. Even when compared to Q1 ’13, the value of investments has more than doubled with two additional deals. 
The engineering and construction sector too has shown an investment spurt this quarter and ranks third in terms of value. The sector witnessed investments worth $348 million from four deals; a seven-fold increase in value as against the preceding quarter with three additional deals in this quarter.

Key sectors such as healthcare and life sciences and BFSI have shown a significant drop in the value of investments in this quarter as against the previous quarter. 
The healthcare and life sciences sector had the highest drop in value of investments; from $746 million in the previous quarter to $91 million in Q1 ’14. Volume too fell by about 44 percent, from 16 deals in Q4 ’13 to nine deals in this quarter. Even as compared to Q4 ’12, the sector witnessed a drop of 40 percent in both the value and volume of deals.

The BFSI sector showed a drop of 25 percent in value; from $84 million to $63 million despite two additional deals in this quarter.

In Q1 ’14, PE investments in the growth stage recorded the highest value, seeing $846 million from 30 deals, which is double the growth in value and a 30 percent increase in the volume of deals. In Q4 ’13, investments stood at $420 million from 23 deals. Buyout deals, with an investment of $660 million from five deals, ranked second in terms of value. The value of investments has gone up by 21 percent with three additional deals in this quarter as compared to Q4 ’13.

In terms of region, Mumbai emerged as the top region with a nearly three-fold growth in the value of deals despite a drop of 7 percent in volume. Investments in this region stood at $942 million from 26 deals as against $365 million from 28 deals. The investment value is about 40 percent of the total PE investments in this quarter. With 26 deals, Mumbai leads in terms of volume too. The National Capital Region (NCR) has slipped to second position, registering funding of $531 million. Bangalore, in this quarter, sees an increase of 74 and 53 percent in value and volume, respectively, with an investment of $463 million from 23 deals.

Private equity exits

The exit activity in the first quarter of 2014 has nosedived in terms of value and volume as compared to the prior quarter. In Q4 ’13, PE exits were worth $1.45 billion from 24 deals as compared to $277 million from 15 deals in this quarter. Even when compared to the same period last year, the story is similar.. The exits have shown a decline of 76 and 60 percent in value and volume, respectively. In Q1 ’13, there were 37 exits worth $1.13 billion.

The majority of the exits in this quarter came from the IT and ITeS and the agri-business sectors which together contributed over 55 percent of the total exit value and 40 percent of the total volume.

The preferred mode of exit in the first quarter of 2014 has been through public market sale (eight exits) and strategic sale (five exits). In terms of value, exits through strategic sale rank first in this quarter with exits worth $154 million from five deals. Public market sale ranks second in terms of value, with exits worth $110 million from eight deals.

Tuesday, May 20, 2014

P81 Delivers Multiplay Featuring Octa-core Processor




Delivering on its promise of presenting its consumers with the most innovative and advanced products, Panasonic, the global leader in consumer technologies, today unveiled its latest smartphone- P81. This latest offering from the company showcases its proficiency to innovate and offer its customers with unique software & design based features specifically designed for the Indian market.

P81 is Panasonic’s first flagship device of the year & the latest addition to the “P” series. The newly launched Panasonic P81 is 13.97cm (5.5) IPS HD (720x1280), 1.7GHz true octa-core smartphone, running on AndroidTM 4.2.2 (Jelly Bean) with 13MP Full HD capable Autofocus camera & 2500 mAh battery. The 7.9mm thin Leatherette smartphone will be available to consumers in India from the third week of May, 2014, at the best price of Rs.18, 990.

With the launch of this device, the company adds more to its “Play Life” bouquet of features, giving the customers a completely new multi-tasking experience seamlessly, where users can play around designing screens, keep device RAM healthy with “Device Cleaner”, multi-play with features like dual window operation, multi-task while watching videos with its Pop-i Player. Additionally, the smartphone also understands gestures with Panasonic’s signature feature, the “Gesture Play”.

The phone comes with Apps Freebies of Rs 9900 including Evernote 6 month Premium services worth Rs.1800 exclusively available for Panasonic smartphones, free entertainment download from Hungama for a month , India Today finest e-content & trendy offers from Hot-n-Trendy Space. Packed inbox are accessories worth Rs.2000 as well.

Expressing his pleasure on the launch, Manish Sharma, Managing Director, Panasonic India said “With the launch of the Panasonic P81, we have reached yet another milestone as this is the first model of the “P” series featured with octa-core processor. The introduction of this model reiterates our commitment to keep innovating as we believe that it is a direct result of the consumers’ needs, and customer centricity has to be at the core of developing products for the Indian consumer.”

Innovation enhanced through Features & Design

Panasonic while keeping the overall feel of device matching to the price segment, has upgraded the “Play Life” UI adding a few more innovative Multi Play features like Dual window operations named “ Dual Play” & screen design functionality named “Play More” to the Octa core device. Other than this, the company has also introduced Leatherette back cover for a better grip & style and a “Device Cleaner” feature for clearing the unwanted memory packets from the device’s RAM.

M2M Solution Enables Next-Generation mHealth





Gemalto, a leading company in digital security, announces its Cinterion M2M technology is providing wireless cellular connectivity for the next-generation of pill dispensers. Developed by MedMinder and wirelessly enabled by Gemalto, the advanced mHealth device for convenient patient use tracks medication intake, sends medical alerts, orders refills and improves prescription compliance. The new, innovative dispenser enhances communication between patients and caregivers, improving the overall well-being, independence and peace of mind for patients.

MedMinder’s smart pill dispensers, equipped with Gemalto’s advanced M2M module, monitor medication usage and send data from the pill box over wireless networks to a central server. Physicians and caregivers can log on to MedMinder’s secure web interface to observe medication adherence and manage changes when necessary. Gemalto’s 20 years’ experience in security combined with its M2M technology ensures this personal information is accessed only by authorized individuals. Continued success of the mHealth industry relies on secure data protection, in which Gemalto is playing a key role.

The solution provides an audio alarm to alert the patient when medication should be taken. Caregivers also receive alerts if scheduled doses are missed giving caregivers the ability to offer real-time support for an enhanced level of medical care. The patient can chose their preferred method of communication as the connectivity enables the pill dispenser to send reminders via text message, email or a phone call. In addition, MedMinder Medication Dispenser has Medical Alert embedded for two way voice channel with the patient’s monitoring center in case of an emergency.

“The Gemalto M2M solution allows for secure connectivity that provides 24/7 automated communication between the pill box, patient, doctor and medical alert monitoring center depending on the urgency of the situation” said Eran Shavelsky, CEO of MedMinder. ”The technology also offers flexibility and cost-effectiveness for our devices with the option to add new features and expand capabilities in the future without having to redesign the device.”
 
“The Gemalto Cinterion PHS8 module is the slimmest M2M module on the market, and ideally suited to MedMinder’s compact solution,” said Paul Kobos, Head of M2M Sales for Gemalto North America. “With an aging population and growing need for chronic care management, Gemalto M2M technology truly impacts patients’ day-to-day care while protecting data and can be seamlessly integrated into healthcare IT systems.” 

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