Hyderabad: Aiming to make Hyderabad the country’s top information technology destination, the Telangana government will launch four new policies for IT, innovation, gaming and animation and hardware on December 28 during Microsoft CEO Satya Nadella’s visit.
Telangana Information Technology Minister K. Tarakarama Rao told reporters on Saturday that they plan to hold a big event during Nadella’s visit to T-Hub, billed as India’s largest technology incubator.
The government has requested Nadella to unveil policies for IT, innovation/startups, Innovation in Multimedia, Animation, Gaming and Entertainment (IMAGE) and Electronic System Design Manufacturing (ESDM).
The minister announced this while inaugurating incubator for IMAGE, developed by Software Technology Parks of India (STPI) in collaboration with the state government.
Referring to the floods in Chennai which hit the IT sector, the minister said Hyderabad has the unique opportunity as no other city is as safe as Hyderabad.
“No other city is shielded from natural calamities like cyclones, typhoons and earthquakes. We have to seize this opportunity and work for it,” he said.
KTR, as the minister is popularly known, said with the initiatives taken by the government during last 16 to 18 months, Hyderabad had re-asserted itself as one of the premier destinations of IT in the country.
“But we are not completely content with this. We have bigger plans. Multiple initiatives have been taken and with the kind of planning and policy support, we hope that Hyderabad will be the top destination in the country in a couple of years,” said KTR, who is the son of Telangana Chief Minister K. Chandrasekhar Rao.
At a time of tepid job growth and continuing income disparities, the major challenge is to make the youth of the country entrepreneurial and not job seekers, Vice President Venkaiah Naidu said on Thursday.
“Disparities continue to remain in India and so there is a need for inclusive growth… there is the need to take care of the suppressed, oppressed and depressed,” Venkaiah Naidu said at the Bharatiya Yuva Shakti Trust’s (BYST) silver jubilee celebrations here with Britain’s Prince Charles as the chief guest.
“The challenge for us is to make the youth entrepreneurial, and not become job seekers,” Venkaiah Naidu said pointing to the NDA government’s various initiatives to encourage youth enterprises like Startup India, Standup India and the Mudra financing scheme for underprivileged sections.
Modelled on Prince Charles’ Trust for business startups, BYST, founded by Lakshmi Venkatesan, daughter of former President R. Venkatraman, is engaged in building rural entrepreneurship — “grampreneurs” — as also enterprise among under-privileged sections, which includes business mentoring. The current BYST chairman is Bajaj Group chief, Rahul Bajaj.
“Without mentoring, it would be very difficult to set up startups, with all the business, marketing and other vital issues involved in the first two-three years,” Prince Charles said in his address at the International Mentoring Summit organized by BYST to mark its 25 years.
“What amazes me are the sheer number of jobs these young entrepreneurs had created. The aim of such a project should be to create a virtual cycle of creating entrepreneurs who can then invest in the future of business,” Charles said referring to his trust.
BYST was officially launched in 1992 by Prince Charles and expanded its operations to six major regions of India.
Out of these six regions, four — Delhi, Chennai, Pune and Hyderabad — run the urban programme while two regions — Haryana and Maharashtra — run the rural programme.(IANS)
Indians have contributed to growth of iconic business firms like Sun Microsystems, Hotmail and some of them have turned into biggest entrepreneurs and job creators
There are many Indian-origin leaders who have become household names today like Indra Nooyi (Pepsi), Shantanu Narayen (Adobe), Satya Nadella (Microsoft), Sundar Pichai (Google)
Hotmail.com founder Sabeer Bhatia, the company was founded in the year 1996
New Delhi, August 21, 2017: Indians are facing accusations from Americans that they are snatching away American jobs, but it’s not the case. There is an Indian- American venture capital firm called Inventus Capital Partners which is trying to throw some light on the contributions Indians have made in the growth of Silicon Valley.
Indians are stereotypically viewed as a source of cheap labor in US Technology Industry but they are much more than that. Case in point is over the last 10-20 years, Indians have contributed to the growth of iconic business firms like Sun Microsystems, Hotmail and some of them have turned into biggest entrepreneurs and job creators instead of being just job seekers.
As per a report from July, Director of Inventus Capital Partners- Manu Rekhi, the company operates from Bengaluru and San Mateo, California, he observed how Indians have left a mark in the American entrepreneurial space.
There are many Indian-origin leaders who have become household names today like Indra Nooyi (Pepsi), Shantanu Narayen (Adobe), Satya Nadella (Microsoft), Sundar Pichai (Google). But these success stories were due to decades of hard work.
In the early 1980’s, arrived in the US the first generation of Indian entrepreneurs. According to Quartz report, Manu Rekhi said, “Among these legends was Kanwal Rekhi (my partner) along with Vinod Khosla, Naren Gupta, Prabhu Goel, Suhas Patil, and many others, who went on to finding notable companies like Sun Microsystems (acquired by Oracle), Excelan, and Cirrus Logic.”
When the early entrepreneurs moved to America global exposure was very limited and also their understanding of consumer behavior of the people in the US was also limited. That is the reason they founded engineering- heavy systems and networking companies instead of going for consumer facing ones.
Slowly, with time more Indian tried their hands at launching new ventures and also US doors opened for foreign students, thus Indian entrepreneurs turned their focus from enterprise to consumer- oriented companies. One prime example of this is Hotmail.com founder Sabeer Bhatia, the company was founded in the year 1996. Sabeer Bhatia is a BITS Pilani graduate, did masters from Stanford University and has worked for Apple before launching his maiden email service.
The 1990s was also the year in which the Indian-origin leaders were also mentors in the Silicon Valley. Case in point is BV Jagadeesh who is a Serial Entrepreneur and Venture Capitalist. Jagdeesh helped to raise the seed money for Netscaler, a San Jose based company. He later went on to become its President and also CEO by the year 2000. Currently, Jagadeesh is a managing partner at KAAJ Ventures, it makes early stage investments in startups, and he is also an adjunct professor at Santa Clara University, takes classes on early-stage startups and valuation. Ram Shriram is a Venture Capitalist, a founding board member and is one of the first investors in Google. His stake in the company was $ 1.3 billion in the mid-2000, he also mentors budding startups.
Rekhi said that later companies of Indian entrepreneurs shifted towards technologies which were more advanced.For example, Jyoti Bansal started App Dynamics, a management and operations analytics firm, which was later acquired by Cisco for $3.7 billion on 22 March 2017. Dheeraj Pandey, Indian Institute of Technology (IIT) Kanpur alumni owns Nutanix, a cloud-computing software company. In 2016, it had a multi- billion dollar initial public offering. Manish Chandra who is the CEO, Poshmark, which is the social fashion marketplace. Chandra created a product which would be “unheard of 20 years ago,” Rekhi said.
For example, Jyoti Bansal started App Dynamics, a management and operations analytics firm, which was later acquired by Cisco for $3.7 billion on 22 March 2017. Dheeraj Pandey, Indian Institute of Technology (IIT) Kanpur alumni owns Nutanix, a cloud-computing software company. In 2016, it had a multi- billion-dollar initial public offering. Manish Chandra who is the CEO, Poshmark, which is the social fashion marketplace. Chandra created a product which would be “unheard of 20 years ago,” Rekhi said.
Indians are less than 1% in the total US population, but still by 2012 they founded 8% of all the American tech & engineering startups. The group has started one-third of the immigrant-founded startups in the US. The firms which they have founded also provide great acquisition opportunities and also made high-value public debuts, Rekhi said, mentions Quartz report.
The first Indian-American founder led company- Nasdaq IPO (Initial Public Offering) opened its doors in 1987 with Excelan going public, but the pickup in big-value exists came only in recent times.
In the last 5 years, the software and services sector, which has 17 companies, tops the list of IPOs owned by Indian founders and co-founders and has a combined market Capital of amount $26.2 billion. The second in the list were Pharmaceuticals, biotechnology, and life sciences in terms of the number of IPOs (six). But, the retail industry saw a much larger market Capital of as much as $6.67 billion, in comparison to Pharmaceuticals, it was $397 million. 10 of these 34 companies that make approximately 29% were acquired following their stock-market debut.
According to Quartz report, Rekhi said: “Even before the turn of the millennium, companies like IBM and Intel had been making acquisitions, but mostly of outsourcing services companies where you’re basically buying manpower.”
But between 2012 and 2017, more than 25 companies by Indian-origin entrepreneurs saw mergers and acquisitions worth- $500 million and more, Rekhi found.
Rekhi noted, “Topping that list is Western Digital’s acquisition of SanDisk, worth a whopping $19 billion, followed by several acquisitions from Cisco, HPE, and SAP.”
Today, 14 of the 261 unicorns are headed by Indian-origin founders (private companies valued at over $1 billion) in the US. These 14 startups, when taken together have a combined value of $35.17 billion and funding of $81.8 billion, with the IT industry taking the lead, according to Rekhi.
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The Jain community has come up with initiatives to spread the message of world peace
Nearly 5000 Jains will assemble in Ranigunj and chant “Navkar Mantra” 36 lakh times on 16th July
Further, 1008 Jains and monks have also planned an eight-day fasting
July 15, 2017: In an effort to spread the message of World Peace, the Jain Community across the city of Hyderabad will carry out two initiatives.
Firstly, around 5000 Jains are expected to assemble in the Ranigunj area. They will gather and chant in solidarity the “Navkar Mantra” for 36 lakh times. The mantra is at the core of Jainism worldview. The chants are to be taken under the guidance of Shri Praveen Rishiji Upadhyaya who is a Jain Monk.
The full event will be Shri Jain Seva Sangh, a community of about 3 lakh Jains. The President of Shri Vardhaman Sthankavasi Jain Shravak Sangh, Mr. Parasmal Dungarwal stated “The meditation will be held from 8.30am to 10.30am at T-19 Towers, besides Sundaram Honda, Ranigunj”
The second initiative involves eight days of fasting by 1008 Jains and their Monks. From 17th to 24th July, the fasting will begin from in Chennai and conclude in Hyderabad. These Jains will be accompanied by 20 leprosy patients. The fasting is coordinated by Lalalitayi Jaangda who works with 800 Leprosy patients.
During the fasting, the people can only consume hot water only till sunset. After sunset, even water consumption is not allowed.
In Jainism, fasting is an important aspect. During festivals and other important occasions, most Jains fast as part of celebrations.
– Prepared by Saksham Narula of NewsGram. Twitter: @Saksham2394