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Indian-American couple gifts $100 mn to New York engineering school

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By NewsGram staff writer

Washington: An Indian-American couple has announced a $100 million gift to the New York University School of Engineering in what is believed to be the largest philanthropic gift by a member of the Indian-American community.

In recognition of Chandrika and Ranjan Tandon’s generosity and their belief in the school’s mission and promise, the school will be renamed the NYU Tandon School of Engineering.

The University has also agreed to a challenge from the donors to raise an additional, separate $50 million, which will be principally focused on scholarship aid, said NYU president John Sexton and Katepalli R Sreenivasan, dean of the School of Engineering.

“We feel privileged to be able to participate in the transformation that is happening at NYU and at the School of Engineering,” said Chandrika Tandon.

“We want to give back to the city that has given us so much. Our hope is that this gift will bring many more of us together to re-invent engineering, advance New York’s efforts to become a science and tech capital, and foster the talents of young innovators, applied scientists, and entrepreneurs.

“We believe this is just the beginning,” she said.

The gift — which will principally support faculty hiring and academic programmes — is intended to build on the engineering school’s existing practice of cross-disciplinary innovation and entrepreneurship and achieve new levels of academic excellence in engineering.

Chandrika Tandon is a member of the Board of Overseers of NYU’s business school, a member of the NYU Board of Trustees, and leads the NYU President’s Global Council.

A former partner at McKinsey and Company, she is chair of Tandon Capital Associates, a financial advisory firm she founded in 1992.

She also is a Grammy-nominated musician, with an album, “Soul Call”, nominated for Best Contemporary World Music in 2011.

Her husband, Ranjan Tandon, is an engineer by training and a graduate of the Harvard Business School.

He is founder and chair of Libra Advisors, a hedge fund he founded in 1990 that is now a family office.

Engineering was only recently restored to NYU after a 40-year absence when NYU merged with Polytechnic University in 2014.

Since affiliating, the university has invested approximately $100 million in engineering, with improvements in facilities, faculty hiring, admissions, and fundraising, and has also established the related Center for Urban Science and Progress (CUSP).

This gift will accelerate the School of Engineering’s academic advancement, enabling it to develop new areas of strength in engineering and to hire additional faculty.

 

(Arun Kumar, IANS)

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Mompreneurs shaping Indian economy

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By Ashleen Kaur

New Delhi: Wikipedia describes a Mompreneur as “a female business owner who is actively balancing the role of mom and the role of an entrepreneur”.

‘Mompreneur’ is a relatively recent word which has grown exponentially due to the prominence of internet based businesses. In India, more and more women are entering the world of business which was once reserved as a male bastion. Whether they make it big or contribute in a small way, they are definitely running a business on their own terms.

How can a mother make a career from home? By blogging.

Indian mothers can now fulfill their duties as a mother and work from home as well, even starting their very own company. India, in recent times, has become a hotbed for women entrepreneurs and even though Indian women have been doing various home based businesses for a long time, the newly found drive, ambition, and professional attitude has brought a world of change to the female entrepreneurial scene.

CEO & Designer Tory Burch said, “we need to get women to the point where they aren’t apologizing.  It’s time to take ownership in our success.”

The truth about being a Mompreneur is that a large number of talented and creative women have been discovering uncharted niches, creating jobs and utilizing the potential of a new economy. Since India is the most populated country in the world, there are not enough jobs for every single person. In such an economic condition, being self-employed is a commendable aspect.

“Harvard Business School defines entrepreneurship as the relentless pursuit of opportunity without regard to resources currently controlled,” states Harvard Business School Professor Janet Kraus.

“You know you’re doing what you love when Sunday nights feel the same as Friday nights….” says Donny Deutsch in his book Donny Deutsch’s Big Idea.

― Donny Deutsch, Donny Deutsch’s Big Idea: How To Make Your Entrepreneurial Dreams Come True, From The AHA Moment To Your First Million

The major benefit of being a Mompreneur is that your passion, idea or talent is turned profitable. Creativity is the biggest tool required to become an entrepreneur and the best part is that you can actually get paid for doing what you love.

Running a business and caring for a family are two demanding jobs that often seem to be competing against one another. Working mothers are often caught in the crossfire between the needs of their business and the cries of needy children. However, most Indian mothers have the capability to multitask and manage money, kids, and be thrifty as well.

As a Mompreneur, whether you’re pitching an investor, a potential client, or recruiting a new employee, it’s crucial to be able to lead with a hook and deliver your message clearly. Mothers are experts at telling stories and breaking down complex subjects using everyday words, even when the subject is anything but simple. (Picture Courtesy: www.3dcart.com)