Category business

New Delhi, March 3, 2023: Broadband India Forum (BIF), an independent policy forum and knowledge-based think-tank organised a Round Table Discussion with Prof. N Yoshino, Adjunct Professor at GRIPS and Professor Emeritus (Economics) at Keio University, and former Dean/CEO of the Asian Development Bank Institute championing G20 goals on “The Spill over Effects of Digital Infrastructure and Financing” to address the challenges of attracting private investment in ICT infrastructure development.

Renowned Economist and proponent of the spill over theory, Professor Yoshino made a keynote presentation at the Round Table Discussion attended by dignitaries like Shri S.K. Mishra, Advisor (Finance), DoT; Shri Sanjeet Singh, Sr Advisor, NITI Aayog and Shri Vivek Narayan, DDG (Data Services), DoT and many other dignitaries from the Industry & Think Tank. Prof Yoshino presented a paper proposing the creation of financing models to address investment gaps in digital infrastructure.

The proposed mechanism would enable joint involvement and participation of the Government and potential private investors in sharing revenues accruing out of the use of Digital Infrastructure. This would be ploughed back for future growth of the sector. Prof Yoshino’s studies highlighted the spill over effects in Japan, where estimates of spillover effects were as high as 66%. A similar study is proposed to be carried out for India.

Outlining his proposed objectives for India, Prof Yoshino said “that the Spill over effects of ICT infrastructure on taxes obtained by the government could result in increase the rate of return by upto 15% for the investors. This innovative proposal has the potential to revolutionize the investment landscape in India’s digital infrastructure sector and will make it sustainable going forward.” He also said that it will be interesting to see how policymakers respond to this idea “ Overall, the Round Table Discussion with Prof. Yoshino provided valuable insights into the opportunities and challenges of financing digital infrastructure, and the critical role that private sector participation can play in driving the growth and development of digital infrastructure in a sustainable manner.

Mr. TV Ramachandran, President, BIF, said “As India moves forward with the goal to transform itself to a digitally empowered society and knowledge economy, the need for large investments in all types of digital infrastructure is imperative. Digital Infrastructure needs to increase several fold in next five years to help achieve the goal of trebling GDP to USD 7.5 trillion over the next 5 years.” The Round Table Discussion held today brought together all the key stakeholders from Government, Industry etc. to deliberate on some innovative concepts that shall help provide the Government sufficient impetus to take up the agenda of accelerated growth of digital infrastructure in the country forward in the quest for finding new ways to achieve Broadband for All and Digital Inclusivity.

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New Delhi/Bangalore, March 2023 – Since the beginning of 2023, there has been blood on the tech streets on a global scale. As economic growth slowed, tech companies worldwide, including major players such as Amazon, Apple, Google, Microsoft, and Meta, have given thousands of their employees’ pink slips. Interestingly, proving an exception amidst this bloodbath, an Indian deep-tech start-up BosonQ Psi (BQP), is also all set to add to its team in a significant way.

BosonQ Psi (BQP) recently launched the first Quantum-powered computer-aided engineering (CAE) software suite – BQPhy®. The software suite enables enterprise customers to perform complex simulations using Quantum computers. BQPhy® has already been used for proofs-of-concept with global automakers and will serve customers from verticals including but not limited to automotive, aerospace, manufacturing, energy, and biotechnology.

Proving to be an exception to the rule

Despite mass lay-offs announced by Tech majors, BQP is actively hiring talented individuals passionate about engineering the future and looking to work in deep tech and quantum computing.

BQP is expected to continue its upward graph in 2023 and saw significant growth last year. In addition, BQP is rapidly scaling its operations as it plans to hire 50 percent of its quantum workforce from India.

Founded in late 2020, Bangalore based BQP is leading India’s quantum supremacy as it plans to expand its footprint by setting up US and UK offices in the coming year.

Aditya Singh, Founding Member, Head of Growth & Infrastructure, BosonQ Psi, said, “Being one of the industry leaders in quantum computing, we provide significant career opportunities for students pursuing education in STEM fields. In addition, BQP organizes various initiatives around quantum computing for such as classroom workshops for high school students and hackathons with engineering colleges and universities. Through these programs, students get first-hand experience practical knowledge of quantum applications and their potential to provide disruptive solutions for problems ranging from climate change and green environment to helping habitation on other worlds.”

The programs align with the vision outlined by Prime Minister Narendra Modi at the 108th Indian Science Congress earlier this year, where he pointed out India’s goal to be a tech hub for the world and its focus on emerging areas such as quantum technologies among others.

Charting a growth path to make a difference at an individual and global level

Abhishek Chopra, Founder & CEO of BosonQ Psi (BQP), stated, “India has immense engineering talent to become the global Quantum hub. As providers of the world’s first quantum-powered simulation suite, we at BQP aggressively plan to hire students with quantum computing, engineering design, and software development skills. As we expand geographically, working at BQP provides an incredible opportunity to explore practical applications and find breakthroughs for the most pressing problems using the power of quantum”.

To further enhance the product experience, BQP has been forging early partnerships and collaborations with the Quantum computing ecosystem. For example, BQP is part of the Intel OneAPI start-up program, Amazon Braket, and Microsoft Azure platform. Integrated with the Strangework Quantum Syndicate – one of the leading computing companies, BQP’s simulation suite, BQPhy® enables easy access to quantum and classical hardware providers. Recently, BQP joined the NASSCOM Deep tech club, which aims to solve global challenges using next-in-line technologies like Quantum Computing.

Rut Lineswala, Founder & CTO of BosonQ Psi (BQP), emphasized that Quantum computing has the potential to transform challenges that classical computers may never be able to solve alone. ‘‘We are excited to team up with Universities to harness extraordinary engineering talent. At BQP, we aim to provide a platform for students to work in the deep tech field of quantum and turn their aspirations into reality’’

An ideal place to work

Besides working with cutting-edge tech, BQP provides a fun work culture, a daily 60-minute break time, period leaves and mental health leaves. The collaborative work environment allows employees to hone their skills while working with the best brains in quantum computing, multi-physics simulation, and software development. They also benefit from mentorship and guidance from experienced industry professionals.

After truly being missed for two years, the World’s Leading Youth Festival is back! Groww presents the Under 25 Summit 2023 will be taking place on the 4th and 5th of March 2023 in Embassy International Riding School, Bangalore.

“The Under 25 Summit 2023 is a collection of experiences that range from intimate 30 people camps to communal 300-people domes to 3000-people stages that enable attendees to have their own unique festival experience. Built in the setting of a parallel universe, with thematic worlds and experiential spaces, we are creating experiences that prioritizes self discovery, engaging with the external and activating all human senses,” says Anto Philip, the Co-
Founder of Under 25. These tap into the interest areas of students – fashion, finance, fitness, content creation, pop culture, language and travel.

With many industry experts, namely Abhinav Bindra, Armaan Malik, Prajakta Koli, MC Stan, Faye D’Souza, Prateek Kuhad, Masoom Minawala and hundreds more, the festival is looking to provide students from more than 2000 campuses across the country with a platform to discover more!

“Over the last decade of building the Under 25 Summit, we’ve constantly heard our Explorers say stuff like “We love the Energy!” and “Such a fantastic vibe!” – everyone seemed to appreciate this intangible and almost unexplainable feeling they had when they were there.” says Shreyans Jain, the cofounder of Under 25.

The Brand Partners who have come on board include Groww as the Title Sponsor, Duolingo, Bumble, Virgio and Budweiser Beats as associate partners and Brands such as Netflix, Coke, Fello, Freakins, Mochi and more coming onboard to empower and enable the youth! Come experience the biggest intersection of community and culture for this generation at the
Under 25 Summit.

3rd  March 2023: Kudumbashree is set to launch its products on the ONDC network at the “Symposium on Digital Marketing and Launch of Kudumbashree Products on ONDC” event, which will be held on March 2, 2023, in Trivandrum, Kerala.

Open Network for Digital Commerce (ONDC) is an initiative aiming at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols independent of any specific platform.

A government of Kerala programme, Kudumbashree, is a three-tier community of women working towards poverty eradication and women empowerment, and its association with ONDC will strengthen the joint advocacy and support efforts to strengthen the mission.

As part of this event, Kudumbashree and SellerApp (A network participant associated with ONDC) will sign a Memorandum of Understanding to bring Kudumbashree’s associated sellers onboard the ONDC network, making their products available for purchase online across India. This collaboration aims to empower women entrepreneurs associated with Kudumbashree by providing them with the latest technology and tools for successful online business, thus contributing to the organization’s goal of eradicating poverty and empowering women in Kerala.

Currently, 138 products from Kudumbashree are available on the open network, including women-made products by SHGs and NHGs in categories such as groceries, fashion, beauty, and personal care. After the MOU is signed, many more products are expected to be available online through the open network at an accelerated pace.

The event will have over 150 women from Kudumbashree attending, including a training workshop on social media marketing and a packaging training workshop organized by Shiprocket. The benefits of joining the ONDC network will be highlighted, including increased discoverability across multiple buyer applications, the power for sellers to set their own terms, and access to customer information.

T Koshy, MD & CEO, ONDC, said, “Our mission at ONDC is to make e-commerce accessible and inclusive for sellers of every size and scale across India. The initiative taken by SellerApp to onboard sellers from Kudumbashree on the open network will showcase the potential of ONDC to bridge the digital divide and empower small businesses across the country.”

Dilip Vamanan, Founder, SellerApp, said, “We are excited to partner with Kudumbashree to bring the benefits of e-commerce enabled by ONDC to the sellers associated with Kudumbashree. Our mission at SellerApp has always been to enable and scale e-commerce businesses with actionable data.”

Mr. Jafar Malik, IAS, Executive Director, Kudumbashree, said, “I am very happy to see that Kudumbashree is launching its products on ONDC in the silver Jubilee year of Kudumbashree. This will be a milestone in Kudumbashree history also to be part of this digital revolution. In coming years we want to see kudumbashree products accessible to everyone from everywhere . We are also happy to work closely with Sellerapp for making this successful in months to come. ”

Bangalore, 3rd March 2023:

Tata Hitachi, a leading provider of construction and mining equipment, has installed and commissioned a new, state-of-the-art Cathode Electro Deposition(CED) Paint shop at its Dharwad plant. The new CED paint shop will be beneficial in providing superior paint performance with high colour retention and excellent corrosion and wear resistance properties.

The Paint shop was inaugurated by Shri Pralhad Joshi, Hon’ble Union Minister of Parliamentary Affairs, Coal and Mines, Government of India. In the presence of Mr. Yusuke Kajita, President-Construction Business Unit, Hitachi Construction Machinery, Japan, and Mr. Sandeep Singh, Managing Director, Tata Hitachi.

CED is environmentally friendly and is the most advanced technology that is being used in the industry. This new CED paint shop is a testament to Tata Hitachi’s commitment to continuous improvement of quality and processes. Also, to the company’s quest in providing best-in-class Construction Equipment to Indian customers as well as cater to global markets.

“We are very pleased to commission and inaugurate the new state-of-the-art CED Paint shop at our Dharwad facility. The CED paint shop promises to provide superior quality and better paint performance while being sustainable. It comes at an investment of Rs. 60 Crores and is a part of our plan to increase our production capacity to meet future demands and reaffirm our commitment to providing high-quality machines to customers. With this we also reinforce our pledge towards ‘atmanirbharta’ and our larger goal of nation-building” said Mr. Sandeep Singh, Managing Director, Tata Hitachi.

Mumbai, March 03, 2023: Tata AIG General Insurance Company Limited, one of the leading general insurance firms, has unveiled its brand campaign ‘Fizul Kharche’ to create awareness of smart money saving practices, using health insurance to cover medical emergency costs and saving tax on insurance premiums. This campaign has three light-hearted, witty short ad films showcasing the magnified spending behaviour of customers when they have excess money. The campaign goes live on 01 March 2023 and will run on all digital platforms of Tata AIG.

The campaign aims to spotlight Tata AIG’s Health Insurance Product and emphasizes the tax savings one can avail of with their health insurance policy premium. The three short films under this campaign titled ‘#FizulKharche’ showcase a few extreme scenarios of customers spending excess money that they have saved by investing in Tata AIG’s health insurance.

Speaking about the campaign, Mr. Riaan Rodrigues – Senior Vice President – Digital Business & Marketing, Tata AIG, said, “Changing lifestyles have led to a rise in disorders and this has increased the burden of hospitalization and healthcare expenses for men and women of all ages. Through our #FizulKharche campaign, we want to make customers financially wiser by making them aware of savings instruments that can help them prepare for the future. The campaign #Fizul Kharche has been designed in a quirky way to simply convey the idea of investing in health insurance as the first step to create emergency funds for healthcare needs and save tax under 80D of the Income Tax Act.”

Saikat Sengupta, Creative Director, Social Panga, said, “The campaign captures the very common customer tendencies of overspending and we thought of highlighting this very nature to create the need to first save with health insurance. The development of the theme has showcased with extravagant spending habits to create a conscious understanding amongst customers around the campaign name Fizul Kharche.”

Delhi: Mark your calendars for March 12th, as the largest stock market educational event in the history of India, the Stock Market Education Conclave, is set to take place at the esteemed Thyagaraj Stadium in New Delhi.

This event is geared towards providing financial education and promoting stock market awareness to a mass audience and is a collaboration between influencers and leading educators.

The Stock Market Education Conclave boasts over 6000 live participants and 40+ influencers and educators, making it a must-attend event for anyone seeking to financial growth and prosperity.

The event promises to provide a proactive, radical, and breakthrough perspective that, if applied, will take your profitability to the next level, whether you’re a fresher in the stock market or an investor seeking growth and distribution.

Leading the charge is Pushkar Raj Thakur, India’s Leading Finance Educator, Motivational Speaker, Business Coach, and Entrepreneur, who holds an esteemed mention in the Guinness Book of World Records 2022 for hosting the largest social media event of the year, the Social Media Growth Conclave 2022. Thakur’s mission is to help individuals understand stock market jargon and gain financial independence while contributing to the country’s
development.

Pushkar Raj Thakur and other top influencers and educators will be present to offer a day of learning, networking, and enhancing financial prowess at the Stock Market Education Conclave. Thakur is renowned for his training in Digital Marketing, Entrepreneurship, Online Business Development, and other core disciplines, as evidenced by his features in top publications such as the Times of India and Hindustan Times. This is an opportunity that should not be missed!

Kolkata, 3rd March 2023 –: India’s most prominent early-stage angel networks FAAD announces the launch of its regional office in Kolkata. The network, comprising 1600+ investors, recently hosted its 1st Investor Meet in Kolkata. Over 50 handpicked and serious investors attended the event held at The Saturday Club.

Three new age businesses including co-workingaggregator Stylework, HRtech We360.ai, and consumer brand Auntie Fung’s – presented their business pitch to the curated audience.

The Meetup held at the FAAD’s regional office in Kolkata, was led by Bikram Saraf and Rishi Nad. Both of them are startup enthusiasts and angel investors across various successful startups.

Kolkata is among the top ten startup hubs in India. With myriad investment opportunities, the city is rapidly growing as one of the leading startup investing ecosystems in India.

FAAD launched the Kolkata office to bridge the gap between the investment community and fledgling startups in the region. By helping early-stage investors find investible startups and entrepreneurs receive capital and network support, the network aims to foster growth and collaboration across the ecosystem.

FAAD Co-founder and Director Dr. Dinesh Singh, “FAAD is one of the finest go-to investor networks for pre-series A and Series A startups to build and grow their business ideas. With the launch of our Kolkata office the network wants to create value for both investors and startups in the eastern region by hosting networking tools and sessions for professionals to interact and gain insight into the startup ecosystem. These events are a great platform for aspiring entrepreneurs to grow their business ideas and receive the mentorship and financial assistance required for their success.”

FAADRegional Partner, Mr. Bikram Saraf,said, “We are delighted to expand our presence in Kolkata with the launch of our regional office. The city has immense potential for entrepreneurship and innovation, and we are excited to support and invest in promising startups in the region. The successful turnout at our recent Investor Meet is a testament to the growing interest and enthusiasm among investors in Kolkata. With our network of over 1600 investors, we are committed to fostering a thriving startup ecosystem in the region and beyond.”

Attendees had the chance to network with other investors, entrepreneurs, and financial experts to explore the potential of the startup sector in Kolkata. The meeting was highly successful and provided a boost to the startup culture in the city. With the launch of the Kolkata office, FAAD will be looking at hosting local investor meetups regularly to embrace serious investors in its ecosystem.

Recently FAAD has received approval of Securities and Exchange Board of India (SEBI) for a category 1 INR 300 crore Alternative Investment Fund (AIF).

New Delhi3rd March 2023 – Evera- an EV Cab service provider, has marked the final closure of its pre-Series A funding round at $7 million. The company secured the investments in two tranches, initially led by IEG Investment Banking Group, Germany and later Direct Capital- subsidiary of Devonshire Capital, Thailand & Westova Global, Singapore came together in the closure of this round.

Evera has raised $7 million in total funding till date.

With this investment, the company aims to utilize the added funds to expand its EV cab services across the capital and expand technological advancements.

On the growth, expansion, and investment, Mr. Nimish Trivedi, Co-founder & CEO –Evera, said, “We are privileged to have a strong set of prominent global investors who believe in our mission of building sustainable commutes as it is a pressing need. We have already logged 10 million green kilometers in the Delhi NCR. The current investment will be utilised towards advancement of tech and expand our business to establish a bigger & stronger customer base. “

Mr. Arthit Narula (Partner), Direct Capital- subsidiary of Devonshire Capital commented on the funding and said “Having been a part of Armstrong Asset Management (Singapore) and successfully witnessed its journey, we are excited to invest in sustainable business. Transportation is one of the major reasons for environmental pollution, brands like Evera came with a strong agenda to make the environment pollution free. Cab aggregator is a growing market in India, also trending globally and we are investing in EV cab services which will definitely help us in investing in Greener tomorrow”.

Mr. Parag Solanki, (Partner), Westova Global also expressed his views and said, “Our investment in Evera reflects our view that sustainability and having a green and healthy planet is our priority. With the government introducing new policies and laying out a roadmap for EV firms, we firmly believe that this association will bear fruits that will benefit the masses.”

The company has recently partnered with GMR and started its services from Indra Gandhi International airport in New Delhi with the aim to build a sustainable tomorrow. Last year, Evera also signed the MoU with TATA Motors to increase its fleet size by 2000 EV cars.

India, 3rd  March 2023: GreenLine Logistics (Green Planet Logistics Pvt Ltd.), India’s first and only LNG-fueled heavy trucking logistics company, has entered into an LNG supply agreement with Baidyanath LNG Private Limited (BLNG).

GreenLine Logistics has currently deployed its LNG fleet with leading cement manufacturers for inbound and outbound transportation of raw materials as well as finished products. The company plans to deploy ~1,600 LNG trucks by March 2024. These state-of-the-art LNG trucks, manufactured by Blue Energy Motors, reduce CO2 emissions by ~28%, translating to emission reduction of ~24 ton CO2 per truck per annum, compared to conventional diesel trucks. Over GreenLine’s planned fleet of ~1,600 LNG trucks by March 2024, this adds up to a significant reduction of 38,400 ton CO2 per year.

BLNG is building a network of LNG refueling stations on key trucking routes across the strategically placed Vidarbha district of Maharashtra.

Commenting on the association, Anand Mimani, CEO, GreenLine Logistics, said, “We are pleased to enter into this arrangement with BLNG for LNG supply for our heavy trucking fleets, enabling rapid scale-up of our operating routes for faster decarbonisation of heavy trucking in the region. As the preferred partner of many leading corporates for lower emission trucking, we are investing heavily to enable this transition. Given the higher order of magnitude of a range of toxic emissions from heavy trucking, it is crucial for corporates to focus on reducing emissions from this aspect of their business operations.”

Commenting on this initiative, Vaddadi Subbarao, CEO, BLNG, said, “Taking forward the initiatives by Nitin Gadkari, Union Minister for Road Transport and Highways, for promoting LNG as automotive fuel for clean Nagpur and Vidarbha, we are delighted to enter into this agreement with GreenLine Logistics. This agreement provides us with an added impetus in our mission to create a wide network of these LNG stations across Vidarbha district. We look forward to enabling GreenLine’s mission of decarbonizing heavy trucking by ensuring uninterrupted LNG supply on its key trucking routes.”

GreenLine Logistics is on a mission to decarbonize heavy trucking in India and is paving the way for widespread adoption of LNG fueled long haul trucks by showcasing its immense advantages for corporates. GreenLine has collaborated with multiple organisations to create India’s first & only integrated green logistics ecosystem to make LNG trucking a reality in India.