Category Archives: Business & Economy

Items made of lantana, an attraction in expo

Arts, Culture & Entertainment, Business & Economy
Furniture made in lantana, an invasive weed scrub, by the tribal artisans of western ghats on display for sale at Poompuhar’s Crafts of Tamil Nadu exhibition in Coimbatore. | Photo Credit: M_Periasamy
Furniture made in lantana, an invasive weed scrub, by the tribal artisans of western ghats on display for sale at Poompuhar’s Crafts of Tamil Nadu exhibition in Coimbatore. | Photo Credit: M_Periasamy

Lantana crafts of the tribal people of Singapathy, near Kovai Kutralam, is a new attraction at the Poompuhar’s ‘Crafts of Tamilnadu’ annual exhibition at its main showroom in Coimbatore.

With a view to encourage the tribal people in crafts to eke out a living, the Handicrafts Development Corporation in association with the government is encouraging the tribal artisans to make furniture and other craft materials near Singapathy, said R. Narendra Bose, manager of showroom. Lantana, a weed shrub that invaded from Central and South America is a grave threat to the native flora in the reserve forest. The rapidly growing weed is considered to be a threat to biodiversity.

The bamboo-like weed grows very fast, covers open ground very quickly and hinders the regeneration of species. It often outgrows other species, which leads to reduction in biodiversity.

Besides Coimbatore, these types of weed shrubs are found abundantly in the forests at Chennapatna in Karnataka.

Based on a tip-off given by the trainee IAS officer Sharanya Ari, the Tamil Nadu Handicrafts Development Corporation Limited took interest in introduction of furniture made using Lantana species (bamboo like) by the trained tribal artisans and were on display for sale at the exhibition for the first time.

“It helps local artisans to create wealth from waste,” Mr. Bose said.

Sofa sets, corner stand, tea table etc costs much lower than those made of bamboo and other types of woods, he added.

Aadhi Yogi statue made of coconut shells by artisans and paper crafts made by the inmates of the Residential Industrial Training Centre for Mentally-Challenged Persons at Iruttupallam in Coimbatore are also an attraction at the expo.

More than 150 products are on display for sale at the exhibition. Poompuhar expects the sale during the exhibition period to cross Rs. 5 lakh.

The exhibition will be held between 10 a.m. and 8 p.m. on all days up to December 16, he said.

source: http://www.thehindu.com / The Hindu / Home> News> City News> Coimbatore / by R. Arivananthan / Coimbatore – December 13th, 2017

Chennai industrialist dies

Arts, Culture & Entertainment, Business & Economy, Leaders, Records, All

Chennai-based industrialist C.V. Karthik Narayanan died on Wednesday morning in Chennai .

He was 79 and is survived by his wife Uma, son Ram Gopal and daughter Gayathri.

Narayanan, was Chairman of Ucal Auto Pvt Ltd and an independent director at Sundram Fasteners Ltd (SFL).

He also spearheaded Standard Motor Products of India Ltd, which was an iconic brand in the 1980’s and 1990’s.

Narayanan also served as President of Society of Indian Automobile Manufacturers (earlier called of Indian Automobile Manufacturers and Automotive Research Association of India) in 1980. He also played a key role at Confederation of Indian Industry (CII).

Narayanan is also known for his work in translating Kalki’s epic “Ponniyin Selvan” in to English.The other interesting facets of Narayanan include his love for the mridangam and trekking. He had told The Hindu that he wanted to explore the Chera history.

“A true friend for many years, an industrialist par excellence, a very exalted person with many and varied skills. We will miss his guidance at SFL,” Suresh Krishna, Chairman and Managing Director of Sundram Fasteners Ltd. said.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Staff Reporter / Chennai – December 13th, 2017

Chennai techies excel

Amazing Feats, Business & Economy, Inspiration/ Positive News and Features, Nri's / Pio's, Records, All, Science & Technologies, World Opinion

Two former students of a college in Kodambakkam make it to a special list by Forbes, for their innovations in health care

While he and his team have developed a compact affordable device to treat pre-natal jaundice, she is working on a software platform to help addicts free themselves of substance abuse.

Meet Vivek Kopparthi and Akshaya Shanmugam, who now work in the United States.

A few years ago, they went to the same college.

Alumni of Meenakshi Sundararajan Engineering College in Kodambakkam, the two have made it to the “Forbes 30 Under 30” list, which recognises excellence in professionals aged under 30. Vivek is on the list released for 2017; and Akshaya, on the one for 2018.

Social impact

The son of Srinivasa Rao, a first-generation learner and Mangadevi, who believes employees in her small unit are family, Vivek says he hopes to make a social impact with the device, and is not interested in making money out of it.

“The World Health Organisation says that in South East Asia India, Myanmar and Africa, roughly 5.4 million infants go untreated for jaundice, every year. Nine percent of them either die or suffer permanent brain damage, every day. Our device, which uses light to treat jaundice, would be among the most affordable in the market, as it based on simple plug-and-play technology that can run on solar power or batteries. The device has just four pieces, no complicated machinery and not much training is required to use it,” explains Vivek, who is co-founder and CEO of NeoLight, a healthcare company that engineers and designs solutions for newborns in need of neonatal medical care.

Vivek is looking for organisations to tie up with him to supply the devices.

Akshaya Shanmugam, CEO, Lumme Labs, an alumni of Meenakshi Sundarajan Engineering College in Chennai. Photo: Special Arangement | Photo Credit: Special_Arrangement
Akshaya Shanmugam, CEO, Lumme Labs, an alumni of Meenakshi Sundarajan Engineering College in Chennai. Photo: Special Arangement | Photo Credit: Special_Arrangement

Overcoming addiction

His senior at college, Akshaya was part of team that was recognised for its work on creating a software platform to help addicts shake off their dependence.

“What we have is a software platform that is capable of collecting data from wearable sensors like smartphones and watches, basically Android devices that help us understand the behaviour of addicts and the triggers associated with the behaviour. Finally, we also give them personalised interventions to help them recover,” explains Akshaya, who has co-founded Lumme Labs and whose first target are smokers.

“This work is an outcome of research conducted at the University of Massachusetts and the Yale School of Medicine. Our work is funded and overseen by the National Institutes of Health. We have conducted two national-scale clinical trials in which we demonstrated that we can automatically detect smoking with an accuracy of 95% and predict smoking events six minutes in advance,” she explains.

Their college secretary K.S. Babai, says that she is very proud of the achievements of her students.

“Both of them did very well in academics when they were with us. We recognise leadership qualities in students and encourage them to organise events where they can showcase their capabilities,” she says.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Deepa H. Ramakrishnan / December 08th, 2017

Alibaba-backed bicycle-sharing firm Ofo enters India via Chennai

Business & Economy, World Opinion

Chennai:

While competition continues to intensify in the mobility space, it is the humble bicycle that is the next target. Chinese bicycle sharing company Ofo has made its India entry via Chennai.

Launched in 2014, Ofo offers a ‘non-docking’, bicycle-sharing platform, operated via an online mobile application. The company has over 100 million registered users across 180 cities globally. Ofo will import bikes into India which will be available in Chennai, Bengaluru, Ahmedabad and Indore, Chinese news agency Xinhua reported.

The company has also been actively looking for talent to build teams for various locations in Asia Pacific and cities like Delhi, Coimbatore and Pune, it is learnt. Emails sent to Ofo did not elicit a response.
In China, Ofo competes with Mobike, backed by Alibaba rival Tencent. The unicorn’s entry comes at a time when players like Ola and Zoomcar have pilots running in various cities. Earlier this month, Ola announced commencement of Ola Pedal pilots. Zoomcar’s PEDL presently operates over 500 cycles in 4 cities, Bengaluru, Chennai, Pune and Kolkata. PEDL cycles come with features like custom designed aluminum alloy frames and drum brakes, anti-slip chains, airless solid tyres and smart locks. PEDL also has the option for anyone to become a host by allowing cycles to be placed at the individual’s residence in return for various benefits.

“It is always good to have a competitor as it helps the market to grow. Ultimately, cycles will do better part of multi modal vs stand-alone,” said Greg Moran, cofounder, Zoomcar.
While welcoming the entry of Ofo, industry observers are circumspect about its sustainability. “It disrupts the way people look at last mile connectivity. However, a lot of issues need to be addressed such as infrastructure support (public restrooms/changing rooms), statutory frameworks and issues arising out of current ecosystems (share autos losing their business),” said KP Krishnan, who runs Cycos, a cycle rental company.

source: http://www.timesofindia.indiatimes.com / The Times of India / News> City News> Chennai News / TNN / December 07th, 2017

City-based start-up gets IRs 45 crore in funding

Business & Economy, Education, World Opinion

Flinto Learning Solutions plans to expand to other parts of country, southeast and middleeast Asia

City-headquartered start-up firm Flinto Learning Solutions has received funding to the tune of ₹45 crore ($7 million) from Mumbai-based venture capital firm Lightbox.

The start-up, which is popularly called Flintobox, plans to utilise the funds it obtained to capture the pre-school market in India, which is worth over $4.5 billion.

Flinto is also gearing up for global expansion, starting with south-east and middle-east Asia.

Arunprasad Durairaj, chief executive officer and co-founder, Flintobox, said, “In India, pre-school penetration is less than 10% when compared to the developed countries, where it is anywhere between 90-100%. Flinto deep dives to address this major concern.”

The funds will be utilised to further strengthen the firm and expand to every nook and corner of India.

Currently, the start-up has over 4 lakh parents as customers from over 700 cities and towns, including Port Blair and Diu and Daman.

The firm is shipping more than 40,000 boxes per month.

Mr. Arunprasad said, “Flinto is redefining early learning by changing classrooms into big co-operative fun activity spaces where every child explores things that interest them. Flinto is designed in a such a way as to ensure parents/teachers spend time with children in a productive way.”

Lightbox partner Prashant Mehta says, “Flinto is addressing a massive need in early childhood development by delivering a subscription-based product to your doorstep every month.”

Life lessons

Flinto is the brainchild of three young entrepreneurs — Arunprasad Durairaj, Vijay Babu Gandhi and Shreenidhi Srirangam — who personally experienced the lack of quality early learning in India.

These experiences led them to set out to create tools and products that would change the way children learn and play.

In 2013, the founders pooled in ₹10 lakh from their personal savings to start this venture.

The first round of funding was ₹15 lakh raised through GSF accelerator.

They later got funding to the tune of ₹1.8 crore from Globevestor, a U.S.-based investment firm, with participation from Asian E-commerce Alliance (AECAL) and Mauj Mobile Pvt. Ltd.

The third (₹2 crore) and fourth (₹6.2 crore) rounds of funding were led by Ashwin Chadha, an angel investor and globevestor, with participation from existing investors.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Sangeetha Kandavel / Chennai – December 06th, 2017

Tapping the sunny side of vegetable business

Business & Economy

Mud, slush, dirt, rotting vegetables form the scene at wholesale markets like Koyamedu, Pookadai. Sacks of fresh vegetables stored in warehouses in unhygienic conditions.

SanjayDasariCF27nov2017

“Vegetables supplied to restaurants and B2B organisations are stored in substandard conditions FOR and I wanted to AND change that,” said Sanjay Sanjay Dasari, cofounder, Waycool, which has 450 B2B customers. The 24-year-old Dasari took a shot at entrepreneurship after graduating in finance and strategic management from Babson College near Boston.

Setting up the company WayCool in July 2015, Dasari partnered with Karthik Jayaraman, a specialist in cold-chain storage. Other experienced hands such as Ashok Leyland MD  Vinod Dasari and Cavinkare’s C K Ranganathan advise the startup and hold positions on its board.

In its initial months the team had to cope with the 2015 deluge. “Luckily, one of our early investors had a house on a higher level and we were able to save our fresh stock of vegetables. We also faced initial problems in understanding the nuances of the industry,” added the co-founder.

Leveraging their USP — fresh vegetables, including exotic varieties like artichoke, broccoli, with minimal wastage (5%) at competitive prices — the startup has opened five retail outlets in Chennai under the name SunnyBee. Apart from retail customers, they also supply to restaurants and catering companies; sourcing from farmers in 10 states. The team visits farms each month for quality checks.

“We have over 20,000 farmers on board. By tying up with us, we have increasing their earnings by 25%. We have also made it a point to network with small farmers rather than larger establishments; about 45% of our produce comes from farmers having under two acres of land,” added Dasari.

Giving credit where its due and also ensuring source transparency, the firm provides information about the origin of the produce and details of the farmer to customers. It adds to the credibility of the brand and brings in repeat customers, they say. Waycool’s emphasis on hygiene does not end with the store, they engage with people on social media to highlight the extent of the problem. “We urge netizens to upload pictures with #spotted when they witness instances of vegetables and fruits being stored or transported in an unhygienic manner,” said Dasari. Latha Rajasekar, a regular customer, says, “I appreciate that in a market where dealers add artificial preservatives and dye vegetables to give them a fresh look, SunnyBee is 100% transparent. I feel safe consuming their products.” Transparency and low wastage also draw investors. Chief financial officer of Aspada Investments Kushal Agrawal said, “Structural challenges in India’s fresh produce supply chain, comprised of multiple intermediaries, lead to significant wastage (>30% by volume), lower prices for farmers, and poor quality produce at a high er price. As a sophisticated post-harvest supply chain firm WayCool is addressing these challenges with fewer intermediaries and careful handling of produce, thereby catering to a rapidly growing urban middle-class that demands safe, high-quality fresh fruits and vegetables.”

In the future, the company plans to open a B2C retail outlet a month and bring in hyper exotic vegetables.

(This series captures the startup ecosystem in the state)

source: http://www.timesofindia.indiatimes.com / The Times of India / News> City News> Chennai News / by Aparna Desikan / TNN / November 27th, 2017

Rayala Corporation: An impressive balance sheet

Business & Economy, Leaders
At the book launch. Photo: M. Moorthy
At the book launch. Photo: M. Moorthy

The Rayala Story tells the tale of one of the oldest business families in the city and the man behind it all

In the pre-Independence era, when most industries were British run and there were few opportunities for Indians, there was one man from Madras who decided to break away from his previous employers and set up his own automobile service business. Soon, his company grew from strength to strength and he went on to add more portfolios to his already impressive repertoire. After his untimely demise in 1956, it was his son, and later his grandson, who took forward his vision and built the Rayala Corporation into the Rs. 600 crore empire that it is now.

The incredible story of M. Rajagopala Naidu, a man with humble beginnings who founded one of the most successful industries in Chennai, is documented in the book The Rayala Story. Penned by Sriram V., the book, which tells the tale of one of the oldest business families in the city, was launched in a ceremony that was filled with nostalgia with several of the city’s elite in attendance. The book was released by L. Lakshman, chairman of the Rane Group, and the first copy of the book was handed to Karumuttu Kannan, chairman and MD of Thiagarajar Mills, both long standing associates of the Rayala group.

The memoir, which was the brainchild of Ranjit Pratap, Rajagopala Naidu’s grandson, chronicles the latter’s journey from being the foreman at Addison Co to the patriarch of a respected business house, and the company’s evolution over the years. “I’ve wanted to have this book published for many years now and I am glad that it has finally happened. My grandfather passed away when I was three, but I’ve heard so much about him from his associates. He was a man with great foresight and was a compassionate philanthropist. It is only right that his story be told,” said Ranjit.

The book, incidentally, was released on the 92nd birthday of M.R. Pratap, who decided to consolidate the company after his father’s death and turned his focus on the company’s typewriter business. Author Sriram V. said, “He has such vivid memories of his father and the company’s journey over the years. We would meet him for an hour for research for this book and he would surprise us each time with his impeccable notes and recollection of all that we had discussed in the previous meetings. I’d say we had a hard time keeping pace with him.”

Shyamala Badsha, Rajagopala’s daughter, threw light on the kind of man her father was outside of work. Known for his punctuality and business acumen, he also encouraged the women of the family to strive for the best. “He would insist that we study well, got our exercise, ate our greens and kept our rooms tidy. He taught us the importance of hard work. He was the sort of man who would be the picture of sartorial elegance at the office and at home be equally comfortable spending time with his grandchildren in his dhoti,” she said. The Rayala Story chronicles the story of not just M. Rajagopala Naidu, but also the people behind the corporation and its ties with other Chennai-based business entities.

source: http://www.thehindu.com / The Hindu / Home> MetroPlus / by Ranjani Rajendra / July 21st, 2015

Chennai firm helps Axelsen rise to the top of badminton world

Business & Economy, Records, All, Sports, World Opinion
Viktor Axelsen with My Game Stat founders Sunil Kumar (extreme left), Senthil Kumaran (2nd from right) and Ashok B
Viktor Axelsen with My Game Stat founders Sunil Kumar (extreme left), Senthil Kumaran (2nd from right) and Ashok B

Chennai :

Viktor Axelsen is Indian badminton star Kidambi Srikanth’s enemy No.1.

The World No. 1 is a step ahead of Srikanth in the rankings and there’s a Chennai firm that has played a major role in the Danish star’s rise to the top.

Since early 2017, Axelsen has been working in close collaboration with My Game Stat (MGS), which offers performance analytics in badminton. Comprising former player Ashok B, Sunil Kumar, Senthil Kumaran and Sajith. The company was set up in August 2016 with the intention of devising a performance analytics tool which the players can access for a wide range of data about their game.

Axelsen, who became the world champion earlier this year, even sported the MGS logo on his T-shirt for three Super Series tournaments earlier in the year. The player’s association with the company started just before the Indian Open earlier this year.

“I was very curious to know whether the top badminton players were using any analytics. This entire topic is very new. When you discuss this, everyone is immediately interested. When I got in touch with Viktor using my contacts, I found out he was still using his diary to make notes after every match and tournament. He probably plays 70 to 80 matches in a year and he can’t note down every detail. Once we started talking, he was immediately interested and said he had never been exposed to this kind of data,” Ashok told TOI .

Firm eyes tie-up with Sindhu & Co

Axelsen, too, acknowledged the difference that MGS has made to his game. “It is very useful and definitely helping me to prepare for my matches,” he was quoted by the MGS website.

According to the analytics experts, Axelsen himself was unaware about a potential weakness to lefthanded players. “There was this particular pattern where we noticed that he was susceptible to lefthanders. He was shocked with what he saw and understood the kind of contribution we could make to his game,” Ashok said. It was no surprise that Axelsen went on to beat Chinese legend Lin Dan, a left-hander, in the World C’ship final.

While the passion that the four shared for badminton brought them together, Senthil’s work experience as a consultant to a company which is the prime vendor for the National Football League in the US, combined with his eye for detail for the sport, was invaluable. Indian badminton is on a high with the rise of PV Sindhu, Srikanth and a host of other players, but the quartet hasn’t yet tied up with Gopichand & Co. The founders, though, insist it’s a matter of time.

“As an Indian company, we obviously want to associate with Indian players. That is the next objective. We did not want to contact the Indian players until and unless we had a time-tested, proven module.

We cannot afford to fail in India. We have already been in touch with the Badminton Association of India (BAI) and we expect things to be in place by January,” Sunil added.

source: http://www.timesofindia.indiatimes.com / The Times of India / News> City News> Chennai News / by Vivek Krishnan / TNN / November 19th, 2017

City’s start-up aims to recycle e-waste from households

Business & Economy, Green Initiatives/ Environment, Science & Technologies

eWasteCF18nov2017

Non-functional mobile phone chargers, adaptors, calculators, old wires, bulbs, printers, and toners are all part of the e-waste generated at offices, industries, and even households. These mostly get into the regular garbage bags.

Green Era Recyclers, a seven-month-old start-up by Prasanth Omanakuttan and Syam Premachandran, looks at recycling the e-waste generated in the city. In the last seven months, it has collected and recycled eight to 10 tonnes.

The firm has recently got a five-year authorisation from the Tamil Nadu Pollution Control Board to recycle 150 tonnes of e-waste annually.

According to Mr. Prasanth, a study on the e-waste inventory shows that Coimbatore generates nearly 2,500 tonnes of e-waste a year. However, most of it goes unsegregated.

The waste batteries, cartridges, displays, and printers are all collected from institutions, a few houses, and industries and dismantled. The waste is segregated into hazardous and non-hazardous and the non-hazardous waste is recycled. “We also try to recover a lot of materials and refurbish some products,” he said.

Green Era is in talks with Coimbatore Corporation to collect e-waste from houses in one or two wards initially. “We have designed a special bin for households. It has four compartments to collect bulbs, wires, printers and toners, and miscellaneous items. We will pay an amount for most of these and collect them,” he says. The civic body has asked for some more details on recycling and the company will submit the information in a week or so. The preliminary recycling will be done in Coimbatore and the hazardous waste will be sent to Chennai for safe disposal.

Started with an investment of ₹15 lakh, the start-up also has a research unit that designs and develops machinery for recycling, “We now have shredder, extruder, and cable stripper,” says Mr. Prasanth. If the machinery available in the market is purchased, a large-scale recylcing plant needs at least ₹2 crore investment. The start-up has machinery that costs much less and plans to commercialise these too.

“We will go for external funding after developing the machinery,” he said.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Coimbatore / by M. Soundariya Preetha / Coimbatore – November 17th, 2017

Gourmet delight may find fame as State fish of T.N.

Business & Economy, Records, All
Tasting success: The pricey delicacy is known for its nutritional and medicinal value
Tasting success: The pricey delicacy is known for its nutritional and medicinal value

Fisheries university pushes for official recognition of Ayirai

Ayirai meen (loach) has so far been known as a pricey delicacy worthy of the gourmet’s palate. Soon, the fish may well get official recognition as the State fish of Tamil Nadu.

“We are discussing the formalities with the Director of Fisheries and other higher officials. Kerala has already declared Karimeen as the State fish and murrel  has gained that status in Telangana,” Dr. S. Felix, Vice-Chancellor of Tamil Nadu Fisheries University (TNFU), told The Hindu on Wednesday.

He added that the Centre has asked every State to identify its own official fish species.

TNFU has succeeded in raising the fish through pond culture, and sees potential in the technique. “The fish has huge commercial value and our Finance Secretary K. Shanmugam is keen on developing techniques for cultivation of the fish. We are planning to set up two research centres, one in Madhavaram in Chennai and another in Parakkai in Kanniyakumari district, once we get funds from the government. We have already started functioning in Madhavaram,” said Dr. Felix. Priced between ₹1,200 and ₹1,500 per kg in the market, Ayirai(Lepidocephalichthys thermalis) is available in lakes, ponds and rivers. The fish was first raised successfully in a pond by Pughalendhi, a fish-farmer from Vaduvur in Thanjavur district. The university provided him technical support.

“Two years ago, he approached me for guidance on raising fish through pond culture. I asked him to try his hand at Ayirai  and it proved to be a great success. He raised Ayirai as an inter-crop with other carp fish species. There is a huge demand for the fish and we have to concentrate on further research to meet market requirements,” said Dr. K. Karl Marx, Dean, Faculty of Basic Sciences, Institute of Post Graduate Studies (IPGS), TNFU, OMR Campus. Scientists of Central Institute of Fresh Water Aquaculture (CIFA) have visited Vaduvur to witness the harvest. “After the harvest, the fish weighing approximately 3 grams each will be conditioned before taken to the market. In this conditioning process, the fish’s gut is cleansed naturally, making it fit for cooking,” said Dr. Marx.

“The fish has nutritional and medicinal value since it is consumed as a whole. Ayirai consumers get more calcium as the bones are not discarded,” Dr. Marx said.

source: http://www.thehindu.com / The Hindu / Home> News> States> Tamil Nadu / by B. Kolappan / Chennai – November 16th, 2017