Tuesday, November 17, 2015

How an IITian is helping villagers to produce electricity

Yogeshwar Kumar instructing a technician on fabrication of equipment for power house. He has been designing power station and gets equipment fabricated in small units in Delhi
Yogeshwar Kumar is helping villagers build and operate their own micro-hydro-power plants.
They say it takes tiny drops of water to eventually fill an ocean.

At a time when the world is questioning the construction of mega dams in the earthquake-prone and ecologically sensitive Himalayas, Yogeshwar Kumar's micro-hydro projects have the potential to do exactly that.

In the last three decades, Kumar, an alumnus of Indian Institute of Technology Delhi, has engaged with rural communities to build over 15 micro-hydro plants. 
Constructed by villagers-turned-barefoot-engineers, these projects are also operated and maintained by them.
"Every mountain stream flowing down a gradient is capable of producing some power - and every village community has it in its hands to tap it. In my estimate, every third village in the Himalayas can harness nearby streams and waterfalls to become self-sufficient in power," says Kumar.
Inspiring as the idea may be, it is certainly not new.
The first mini hydroelectric project in India commenced back in 1897 in Darjeeling.

But what sets Kumar's initiative apart is his emphasis on community involvement and the use of electricity to power rural livelihood projects.
"The idea is to enable rural communities to become self-sufficient," he says. 
"Although it was hard at the outset to train the villagers, who are mostly illiterate, in power generation, the results have been great," says Kumar.
Today, all the plants he has set up in places as diverse as Kargil (Ladakh), Agunda and Budha Kedarnath (Uttarakhand) and Kalahandi (Orissa) are being maintained by locals.

Some of these grassroots engineers are now training other villagers.
So much so that when last year's cloudburst in Uttarakhand damaged the Agunda project, the villagers ingeniously restored power temporarily by connecting the plant to a newly created waterfall. 
In the fortnight that followed, when the state grid remained switched off, villagers would trek 20 km to Agunda to recharge their mobile phones.
The power generated doesn't only light up bulbs in rural homes, but can also be used to set up myriad small-scale industries such as weaving, spinning, cold storages, milling of grains and bakeries - especially as the electricity generated is not always used to its fullest capacity.

Near Phata in Uttarakhand, I visit a multi-use watermill (which generates power in addition to grinding grain) under construction in Rampur village.
Kumar is building this in collaboration with HelpAge India. Dayal Singh and six others have partnered in its construction.

"I used to have a traditional water wheel here, but it was very slow. With this new mill, we'll be able to extract oil and grind masalas and foodgrain more efficiently," says Singh. 
With the electricity generated, Singh plans to set up a reverse osmosis plant and sell purified water.

Plans are also afoot to start a bakery unit. In Phata, where Kumar and HelpAge India trained local women to make felt rugs, the response has been great.
"People here keep sheep but throw away the wool. By putting it through an electric carding machine, it can be felted into beautiful and saleable rugs," says Kumar.

He feels that micro hydro power can be a significant contributor to the main grid and cites the example of Germany, where individuals generate electricity and sell the surplus to the grid.
"Some youngsters in Genwali (Uttarakhand), where we set up a project some years ago, even want to supply power to neighbouring villages," he says. "The potential is enormous."
If these projects have been so successful, why hasn't he built more, I wonder. "It's the lack of funds," says he.
At the very minimum, the cost of setting up a micro hydro project is about Rs 1 lakh per kilowatt.
To be of any significant use, the plant should have an output of at least 50 Kw. "We raise some capital and villagers contribute the rest, around 40 per cent, by way of labour," he adds. Getting collaborators isn't easy either.
Thus far agencies like United Nations Development Programme, Defence Research and Development Organisation, Swiss Development Corporation, International Union for Conservation of Nature, Centre for Environment Education, and, most recently, HelpAge India have pitched in. 
After last year's cloudburst, the Agunda plant requires expensive repairs.
"My NGO, Jansamarth, had dreamed of making Agunda a zero-carbon village independent of the main grid," says Kumar.

"The floods were a grave setback." Kumar is preparing to leave for Agunda again to oversee the repair of the damaged plant. 
He says, "Hopefully, someday policy-makers will understand the significance of gently harnessing the power of water as we do, without disturbing the hill ecology or the course of the river."
His efforts towards restoring power to the people are as yet small, but have the potential to revolutionise rural lives. As he says, "To me, electricity isn't only for lighting; it's the beginning of development of the rural world."  

IM grad Shuvajit Payne gave up a cushy job to work in rural India

India is witnessing a radical transformation where highly qualified youngsters are giving up cushy jobs to make a difference in the lives of poor people in rural areas.
Manu A B/Rediff.com tracks the success stories of some of the remarkable people who are working in remote villages to change the profile of rural India.

Lighting up lives in rural India
“I dream of rural India where every village will become a self-sufficient entity, every village will have inspiring teachers and are developed in terms of social happiness," says Shuvajit Payne, narrating his life changing experience of working in rural India.

Image: Shuvajit Payne with a villager. 
 
He had a dream job with IBM in London, owned high-tech gadgets, went on foreign trips and had all the luxuries a 27-year-old could possibly imagine.
But after working for four years, Shuvajit Payne decided that this was not what he wanted to live for. He wanted to do something meaningful in life rather than making a multinational company richer!
Though Shuvajit did not have a concrete plan in mind, he was confident of making a difference in the lives of the people in rural India.
Shuvajit Payne graduated in economics from the Presidency College, Kolkata. He then did MBA from Indian Institute of Management, Lucknow in finance and marketing and went abroad like many of his peers.
“It was a tough decision to quit the job and leave London. But I was convinced that I should not be wasting my time in the corporate world. I always felt I was born to do good, work for a larger cause,” says Shuvajit.

Image: Waifad village where Shuvajit Payne started work. 
 
Bracing stiff resistance from parents, society and of course friends, Shuvajit moved ahead in his pursuit to build a better India. “My parents were worried how I could live without a stable income and that too in remote villages without any basic facilities. I could not convince them initially. When everyone questioned me, I did not have concrete answers,” says Shuvajit.
He knew he had to work in rural India, helping thousands of people who are talented but can’t join the mainstream due to lack of training and proper resources. Fortunately, a friend suggested that State Bank of India’s Youth for India program would be an ideal platform to take the plunge.
Supported by SBI, the 13-month long programme gives an opportunity to youngsters to work on rural development projects with experienced non-government organisations. They are provided with a stipend and connected with NGOs to work towards building solutions to help people, who don’t even have access to basic facilities.
Presently, 54 fellows are working on a number of projects at 35 villages in 10 states – Karnataka, Tamil Nadu, Kerala, Maharastra, Gujarat, Uttarakhand, Orissa, Rajasthan, Madhya Pradesh and Jharkhand.  SBI Fellows can either choose to work on an existing project of a partner NGO or start a new project.

Image: Shuvajit Payne at his modest room in the village. 
 
The fellowship was the right platform and an eye opener for Shuvajit. After the basic training, he was posted to a village called Waifad in Wardha district of Maharashtra.
“My first day at the village was scary. It was a drastic change of lifestyle for me. There was no proper accommodation… I thought I would go back to Wardha and stay there till some arrangement was made but I was told that it was not easy to get a place to stay on a rental basis so soon. But the saving grace was a computer centre that was set up in a broken haveli. I was allowed to stay at this centre. So all I had with me was a bag, a laptop and a chatai (mat). There were so many infrastructural issues in the village, worst being power cuts and no Internet connection at times, which meant I was cut off from the outside world. But despite the initial teething problems, I got adjusted to the new life within a month and I enjoyed every moment of it,” Shuvajit recollects heartily.
Living at the computer centre turned out to be a big advantage for Shuvajit. It was a place frequented by villagers so it helped him build a rapport with them instantly. Though initially they laughed at him and were reluctant to talk and share their woes, the ice melted very soon.

Image: Shuvajit Payne teaches students in the village. 
 
Since the Vidarbha region was prone to farmer suicides, people wanted to move out of villages in search of greener pastures. The worst part in these villages was the bad quality of education and lack of facilities to hone their skills.
“No one wants to become a farmer. The young generation wants to flee from the villages. But this is not a bad move. Agriculture in India requires huge investment. If  2 or 3 children from a family get better jobs, they can plough their income back to farming. So it is very important that they find good jobs,” explains Suvajit.
Shuvajit started off by teaching English to children in the village. He found that there were many students who knew the subjects but language was a huge barrier. He trained about 300 students in interesting ways. Around 50 of them emerged successful after the training.

Image: Dildar Khan Pathan (centre) with Dr S P Untawale, Assistant Prof. S U Balvir, Prof. Bhujade, Prof. Satpute (L to R).
 
Shuvajit spent a lot of time teaching English, computer skills, building confidence and offering career counseling. Among these students, Dildar Khan Pathan’s case is worth mentioning.
“Pathan was very enthusiastic about learning but was struggling with scarce resources. Seeing his eagerness to code, I suggested that he build an app that could be a shared platform for educational material. The application idea was recognised at the India-wide Aakash Software Development competition, organised by IIT Bombay in 2013. It’s such a great feeling to see that he is today a software developer.”

Image: Rasika, one of Shuvajit’s students. 
 
Shuvajit also worked with NGOs for setting up vocational training centres for villagers, where they are trained in activities like carpentry, mobile phone repair etc.
Another success story came from a young girl named Rasika. Despite no support from parents who kept dumping household chores on her and asked her to quit studies, Rasika was determined to study hard and come out victorious.
“One evening during a power cut, she even dared to come to my place as she needed help for her exams. I could see so much determination and perseverance in her. She went to the extent of risking her life to study. It did pay off well. She is today an animator and works with the MS Swaminathan Foundation,” says Shuvajit who still keeps in touch with over 50 students he had trained during his first year of the SBI fellowship.
Shuvajit initiated publication of a local career information book to assist students. He also helped in starting community polytechnic courses in Waifad village resource centre.

Image: Shuvajit Payne with his students. 
 
After the fellowship, he worked as the programme director, Monitoring & Evaluation, Reliance Foundation (Information Services) in the core strategic team that implemented a project to empower the rural masses with critical livelihood-related information. “Incidentally, I continued to work in the same locations as in the fellowship. Although this was an India-wide project, brief visits to the locations resulted in continuing relationships with the people in those villages, he says.
Development is not just about building bridges, flyovers and other facilities. Optimal utilisation of resources will be the key to success, he feels. “There are schools in villages but no teachers. If there are teachers, then they don’t come to work. Instead of doling out freebies, the government should make people accountable for work,” he says.
Shuvajit was called back to the SBI Youth for India to work as its program manager, broadening his scope to work on rural projects.
According to Shuvajit, beside the problems of poverty, a big drawback is that these communities are largely disconnected from the mainstream.

Image: Road to the Waifad village. 
 
In the villages from the time that I was there and 3 years later, telecom connectivity has increased in leaps and bounds, and smartphone penetration has substantially increased. Information is more accessible, removing unnecessary middlemen and agents, bringing transparency, making civic life easier and leading to larger participation of these communities in governance, thus increasing chances of a more inclusive growth. There are risks - translation of information, capacity building in the area of handling secure information - but largely I foresee a sea change in the rural lifestyle in the coming years, much like how urban lifestyle has changed in India in the last two decades. Education and access to healthcare will see the major impact of this improvement in connectivity, he explains.
But Shuvajit feels on the livelihood side, the picture is grim.
“The big blocker is the high pressure of population on land and the dependency of agriculture on rain makes it a gamble. Now, with labour intensive techniques, only a limited amount of productivity is possible. Technology investment is required to bring in alternate irrigation methods. So, unless the pressure of population on the land reduces, there won’t be much scope of a remarkable rise in productivity. For this, people need to move out to other sectors, make money and plough it back to technological investments on the farms to gradually make them profitable. This has already started happening, but given that 'others jobs' are mostly in cities, it will take years to accommodate a significant chunk of the population in other sectors. So I don't see much improvement in livelihoods happening in the coming two decades. One way out, is to increase jobs in other sectors in a decentralised manner.”
Currently, as program manager of SBI Youth for India, Shuvajit ensures the fellowship program runs smoothly. He works with the SBI Fellows, trying to take his life changing experience to a larger group.

Image: Shuvajit Payne with the family of one of his students. 
 
The first batch of SBI’s Youth for India program had 27 people. The second year saw the number double to 54. This year, the project will be scaled up to add 100 fellows.
“Though more people take up projects, some are forced to drop out due to parental pressure. Parents feel that it’s not safe to let their children work in such remote areas. Financial security is another aspect that worries people who would like to take up fellowships. But earning money does not necessarily give one the happiness and satisfaction that one gets from helping people,” Shuvajit points out.
He takes immense pride in his new role. His parents who questioned his move, are now happy with his work and achievements over the last 4 years.
Image: Shuvajit plans to make education creative and interesting in rural areas.
 
Shuvajit has big ambitions of building up the education infrastructure in rural areas. After his stint at SBI, he plans to work on making education easily accessible across remote villages. He plans to make learning a creative and interesting process thereby attracting more students.
“In the education sector, there has been tremendous initiative in the area of localised curriculum building. With rising Internet connectivity, making education accessible to larger audience has also become much easier. The government has opened schools in almost all villages but the teachers don't inspire students. To move from forced rote learning to real learning, there needs to be a human interface who would motivate students. My effort will be to bring inspiring teachers back into the system,” he says confidently.
Overwhelmed by the affection of villagers, Shuvajit says,“I really love the person I have become. The warmth and love that you get from the villagers is a prized possession. These four years have been a life changing experience for me. I hope many youngsters come forward and sincerely join this mission to make a big difference in the lives of thousands of villagers. The happiness, satisfaction and sense of achievement, this job gives is irreplaceable, explains Shuvajit as he continues to live his dream of building a better India.

A successful entrepreneur who has invested in 20 start-ups

Image: Serial entrepreneur Sashi Reddi. Photograph, courtesy: Wikimedia Commons
 
 
After selling AppLabs, an independent software testing company with 2,500 professionals, to Computer Sciences Corporation in September 2011 for Rs 1,200 crore (Rs 12 billion), giving 10 times return on investments to Series-A investors such as Westbridge and Sequoia Capital India, Sashi Reddi returned to his original passion - investing in start-ups. 
A serial entrepreneur, Reddi had started three other companies prior to AppLabs: web content management firm EZPower Systems, which was acquired by DocuCorp and eventually became a part of Oracle; group purchasing dotcom iCoop; and game developing company FXLabs, which was acquired by Foundation 9 Entertainment. 
The founder and managing partner of SRI Capital, a Hyderabad-based seed-stage venture capital fund with an initial corpus of Rs 100 crore (Rs 1 billion), Reddi has in his portfolio start-ups such as Glassbeam (machine log analytics for technology support), ThinCI (graphics chip design firm), Identropy (identity management services firm), Edutor (tablet-based e-learning player), iMomentous (mobile-based talent engagement platform), Hello Curry (quick service restaurant chain), YuppTV (live Internet TV channel streaming platform), GIBSS (green energy leader), and NumberMall (hyperlocal marketing). 
In Edutor and GIBSS, SRI Capital was the first institutional investor and Reddi is on the board of the two companies. Both firms have successfully raised a Series-A round within two years of SRI's investment. 
"The opportunity in India currently is in the consumer space as start-ups try to build Indian versions of Uber (Ola), Open Table (Zomato), etc. This will be an exciting area to watch over the next five years as some of these Indian players win or lose against their global counterparts," says the technocrat, who is also a member of the investment team at Gabriel Investments. 
"In the US, I focus on enterprise SaaS (software as a service) opportunities since the consumer story has now played out with a lot of very well-funded start-ups in every large category. There is a shortage of capital in the enterprise tech space so it is where I can play a role." 
Known for his business acumen, gentle manners and an unflappable style of functioning, Reddi has so far made 10 investments in the US in his personal capacity, while his SRI Capital has made an equal number of investments in India, which translates into one new investment per quarter. 
"We invested in Applabs, a company founded and managed by Sashi. I served on the board of the company for more than five years. Sashi is a rare combination of being an outstanding businessman and a fine gentleman. We prospered significantly having invested in the company and made fantastic returns. In the past 10 years, we as a group invested in 75-odd companies and I would rate Sashi as one of the top five entrepreneurs we backed. In my five years of being on his board, I never saw him ruffled or agitated. He build a great business that was valued nicely by a global major and all that without much ado," said Sandeep Singhal, founder and managing director of Westbridge Capital. 
The latest investment of SRI Capital is Hyderabad-based NumberMall, which started out as a phone recharge business but is now evolving to using that customer data to provide hyperlocal offers to customers from nearby merchants.

SRI had invested Rs 5 crore (Rs 50 million) in this start-up in January 2015, and Reddi joined the board of NumberMall. 
In this risky world of angel investing, where investors look to exit firms at the earliest, Reddi has not made any major cash exits from his portfolio companies as yet. 
Except for some minor exits such as KonciergeMD, which was acquired by Accolade (both Philadelphia-based healthcare companies), and Shopo (co-invested with Sequoia India), an Indian designer and handcrafted products marketplace, which was acquired by Snapdeal in 2013. 
"The average age of my investments are only two years with only a few being three years. The expectation is that in the next 12 months, we should see two to three exits in the portfolio. In the normal course, barring some exceptions, successful start-ups will move on to raise more funding and grow - just as we saw with Edutor and GIBSS. I am expecting another two-three of my start-ups to raise the next round of funding, like Hello Curry and NumberMall. Most start-ups that exit would be those where there is little upside for investors. Only in a few exceptions will an exit be due to the phenomenal success of a start-up," says Reddi. 
Reddi, who received his BTech in computer science from IIT-Delhi, an MS in computer science from New YorkUniversity, and later a PhD from The Wharton School, University of Pennsylvania, serves on the advisory board of Wharton Entrepreneurship and the board of Ben Franklin Technology Partners. 
FACT BOX
Professional graph: Serial entrepreneur; founded four companies EZPower Systems, iCoop, FXLabs, and AppLabs 
Investment interests: Floated SRI Capital in 2012 and has so far invested in 20 start-ups both in his personal capacity and through SRI Capital 
Major investments: Rs 3 crore in quick service restaurant chain Hello Curry in March 2014, Rs 16 crore in Internet TV provider YuppTV for 10% stake in April 2014, and Rs 5 crore in NumberMall for minority stake in January 2015

India's start-up world booms with 100,000 new firms in 2014

Industry estimates are that about 80 per cent of the companies that are registered are essentially non-IT.
Start-ups have mostly been synonymous with technology but the trend seems to be changing.

Experts say entrepreneurs are exploring other sectors such as health care, renewable energy, aeronautics, food and beverages services and agriculture, among others.
According to tech industry association Nasscom, till 2014 around 3,500 information technology (IT) start-ups came up in India, a figure projected to rise to 12,000 by 2020.

This is a small portion of the total universe of new companies registered last year. Data from the corporate affairs ministry suggests that around 100,000 new firms were registered in 2014.
Industry estimates are that about 80 per cent of the companies that are registered are essentially non-IT.
While some of these are traditional brick-and-mortar, many are innovative products and ideas trying to elbow their way to the top.
Among the start-ups, around 30 per cent are automobile part companies, 20-25 per cent pharmaceutical and life sciences entities, other 20-25 per cent composite material firms, which make anything from petrol tanks on mobikes to wearable devices, an industry analyst said. 
"Apart from the 3,500 IT companies, the rest were either product-based companies or provide services. A part of their operations might rely on IT as everyone has a website, app or both, but their core business had nothing to do with IT," said Rajiv Banduni, chief executive of GrowthEnabler, a start-up grooming company.
Mentors say the shift started some two years ago. "Till about two years back, 80 per cent of the start-ups in India were IT-based. Now, the number of non-IT start-ups has gone up by about 40 per cent. Innovation-based start-ups in areas such as health care, automotive, aerospace are now coming up in a big way," said Jagat Shah, chief mentor of Mentor on Road Programmer that aims to empower start-ups.
He said more entrepreneurs are now looking beyond IT as finding seed funding in other sectors has become easier.

"Investor mindset is changing. Most have realised putting money in one sector is not wise. So, they are opening up their coffers to these start-ups."

Health care start-ups for one have come up in a big way. Chennai-based Swagene that offers genetic diagnostics for health care treatment outcomes is one such company.
In fact, it also the winner of this year's Contest 2015, an international competition for start-ups run by students of Birla Institute of Technology & Science, Pilani, in partnership with DCB Bank.
Not surprisingly, the founder had originally thought of opening an IT-based company. "I did originally think of opening an IT start-up but realised that I should do something that was related to biotechnology, my core expertise. The health care sector is fast coming up in India. There has been a rise in the number of niche hospitals, but more could be done as far as delivery of health care services is concerned and reaching to rural India. Health care start-ups can bridge that gap," said Sooraj Ratnakumar, founder and scientist, Swagene.
Some start-ups are combining innovative concepts with doing societal good. "While there is a company that is trying to provide refrigerators for villages using renewable energy, another start-up is trying to set up clean drinking water kiosks throughout the country. So, there are a lot many companies trying to do something different, yet benefit the society," Banduni of GrowthEnabler said.
With Prime Minister Narendra Modi setting an ambitious target of 100 Gw solar and 60 Gw wind power targets for India by 2022, start-ups in the field of green energy have also got a boost.
One start-up that has made experts take notice is Longman Suntech from Mumbai.

It sets up solar power plants for consumers on their rooftops without charging any installation cost up front. Consumers then buy the solar power at tariffs lower than what they would pay for power from the grid.

However, Sujith Thannikkatt, one of the founders of the company, said starting such a venture is no easy task. "These are not companies that you can start in a garage. We face problems such as procurement, logistics and it takes a lot more to persuade investors."
INDIA SHINING
  • 100,000 New firms registered in 2014
  • 80% essentially non-IT
  • Among start-ups
  • 30% automobile part companies
  • 20-25% pharmaceutical and life sciences entities
  • 20-25% composite material firmsRest either product-based companies or service providers
  • Till 2014: Around 3,500 IT start-ups came up
  • By 2020: IT start-ups to rise to 12,000
Source: Nasscom, Corporate affairs ministry, Industry estimates

The terrible ordeal of TinyOwl employees who lost their jobs

Employees have been asked to return company-owned assets such as laptops, phones and data cards.
For 52 people waiting outside TinyOwl's Gurgaon office, it was a frustrating day.

Monday was their last day there and they were asked to return company-owned assets such as laptops, phones and data cards.

The guards stationed at the door said no one was allowed inside but the employees had e-mails asking them to submit all gadgets and end their story with TinyOwl.
There was uproar. People had been forced from across the national capital region to come into the office and were turned away.

Calls went out to the offices in Mumbai, some officials denied knowledge of these e-mails and others were not reachable. The founders were, once again, missing in action.
After two and a half hours of calling, texting and e-mailing, the employees were grudgingly let inside by the guards.

The chaos was just the tip of the iceberg. The anger bubbled over after weeks of failed negotiations.
The Mumbai-based food technology company had laid off about 118 people two weeks ago, in an effort to clamp on the increasing burn rate.

But, terminations have not come easy to the company. TinyOwl has been battling a series of snafus from the public announcement of termination to the way the lay-offs were handled.
The company has been negotiating the terms of termination with employees from all offices, except Pune, sources said. But, last week, TinyOwl abruptly withdrew all efforts to come to an accord, said employees.
"Whenever we asked the company on the terms, they would not reply. They kept asking us to come to Mumbai and negotiate. But what terms?" asked an executive from the Gurgaon office, privy to the discussions.
The e-mail, which Business Standard reviewed, also left the "option of resignation" open to employees.

A few say the stonewalling was a clever ruse to get rid of them without paying their dues. Some said they had reached the end of their tether and were willing to resign and waive their settlements, just to finish the ordeal. "There are some among us who have started talking to lawyers and that could be the only way out," said another executive
Resignation, sources inside TinyOwl said, was being presented to employees for a purely aesthetic reason and the company has promised to fulfill all "contractual obligations".
The employees, the source said, wanted more than what the contract offered them.
"If we hand them termination letters, it will be difficult for them to get jobs later," a company source said. The source also said that the employees had put themselves on the backfoot by threatening the founders with dire consequences.
Two weeks ago, employees from the start-up's Chennai office had demanded compensation (double the notice period gross pay), a relieving letter (according to the requirement of the employee), and salaries and fuel expenses till the date they sign the papers as well as assistance in job search. Employees from Hyderabad and Delhi had made similar demands.
Some of these conditions, the source said, are not on the contract and the company was currently unwilling to budge on sanctioning them. TinyOwl sources that said they had started the process of finding jobs for the laid off employees. 
TinyOwl could not be contacted for its comment on the development. Employees, however, insist that their demands have to be met and the vague replies have frustrated them. "In Pune, due to the employees' political clout and their tamasha, TinyOwl was forced to settle their dues immediately. We were passive and civilised, which is why we are in this situation," said another executive.
PINK SLIPS
  • Recent lay-offs by different start-ups
  • TinyOwl laid off 268* to tighten cash burn
  • Zomato sacked 300 non-performing employees
  • Housing to fire 600# to check cash burn
  • Dazo to lay off about 50 on closure
  • LocalOye has asked 60 employees to leave on process automation
  • At TinyOwl, 150 were laid off in Sept, 118 this month till now

Indian Cricketer Yuvraj Confirms Engagement

Yuvraj Singh Confirms Engagement, Says Hazel Keech 'Reflection of His Mother'

Yuvraj Singh and Hazel Keech got engaged in a private ceremony in Bali on Diwali night. The 2011 World Cup-winning star says he now wants to focus on Ranji Trophy for resurrecting his India career.

Reported By Abhishek Paul
Last updated on Sunday, 15 November, 2015 20:49 IST
Yuvraj Singh Hazel Keech
This picture was tweeted by @YUVSTRONG12

© Twitter

Three days after news came of Yuvraj Singh getting engaged to British-born actress Hazel Keech in Bali, the star cricketer officially accepted that the news was true, for the first time, on Sunday.
Yuvraj, who is playing in a Ranji Trophy match against Baroda and picked one wicket for 32 on Sunday, tweeted a picture of the couple. He said that he has found a 'friend for life' in Hazel, adding that his mother Shabnam saw her reflection in her would-be daughter-in-law.
The 33-year-old Yuvraj, who last played for the national team in April 2014 in World Twenty20 final against Sri Lanka, added that for now he is focussed only on cricket and would not give any interviews on his engagement. The Punjab cricketer will turn 34 on December 12, but insists that he will pursue domestic cricket to be again in the reckoning for the national team.
The 2011 World Cup-winning player, who is a veteran of 293 ODIs, 40 Tests and 40 T20Is, is having a lean patch in the Ranji Trophy. Barring a 187 against Gujarat last month, Yuvraj has not been able to score a single half-century in Ranji Trophy this season. On the bowling front, he has picked only four wickets in five matches so far.
Yuvraj, who last played a Test in 2012 and an ODI in 2013, is currently out of favour when it comes to national team selection. The emergence of younger spinning all-rounders Ravindra Jadeja and Axar Patel hasn't helped matters either.
Yograj Singh, Yuvraj's father, said he was sure that Hazel would bring good luck to his son's life. The wedding of the star couple is likely to be held in February, next year.
"I was introduced to her by Yuvraj and she is a very nice girl. I am confident that marrying her will change his fortunes and he will return to the national squad. He definitely has it in him to represent India," said Yograj, who has often blasted India ODI and T20I captain Mahendra Singh Dhoni for not selecting his son.
Yuvraj and Hazel have been dating each other for more than three months. Yuvraj and Hazel caught everyone's attention when they walked in together at Harbhajan Singh and Geeta Basra's wedding reception in Delhi on November 1.
Only time will tell if Hazel will bring in good luck for Yuvraj, but for now the 2011 World Cup player of the tournament wants to let his cricketing skills shut up his detractors.
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A Mouthwatering Start-Up in Kolkata Took Rs 10 Crore and a Good Idea

KOLKATA:  If you thought startups meant only Bengaluru, think again. The bug has bitten Kolkata and angel investors are suddenly sitting up and taking notice.

In just the last one month, a restaurant chain in the city has bagged angel funding, so has an education app.

NASSCOM, the IT body, had set a target of 10,000 startups by 2023 across the country. It now says the goal will be met much faster with the way big ideas are landing, many of which are from Kolkata.
 
The start-up bug has bitten Kolkata

Kolkata's biggest startup story in recent times is a momo chain going all popular. Two college friends had pooled in Rs. 30,000 seven years ago to set up their first shop. They now have 52 outlets in six cities with an investment of Rs. 10 crore from the Indian Angel Network.

"I want to make this brand an international brand, want to go all over the world. That's what our dream is. We want an Indian brand go abroad. And why not?" said Binod Homagai, co-founder, Wow! Momo.
 


His friend, partner and co-founder Sagar Daryani's has more immediate plans; sixty more outlets in the next two years and an IPO in seven. He feels the startup bug is in Kolkata to stay.

"Nowadays, being an entrepreneur has become the cool thing," he says.

A spurt of big ideas has investors hotfooting to Kolkata. NASSCOM, which set up its startup warehouse in January with state support, is pointing the way. Senior associate, NASSCOM, Ravi Ranjan, says, "We have seen more than 200 applications on our website in eight months and we have selected 13 world class global product companies from Kolkata".

President of Indian Angel Network, Padmaja Ruparel, who has invested in Wow! Momo is excited. "I am seeing entrepreneurial genes kicking in, I am seeing entrepreneurs who are driven, there is passion and, most important for me, that commitment which says, I want to make it happen. And that will make Kolkata happen as well," she said.

Funds are flowing in. Om Agarwal, a 23-year-old law student from NUJS, Kolkata, will launch an education app in a couple of weeks. He has just won investment from a startup investor Ravi Agarwal, the details about whom are not being shared, but who might just be a big name.

"EazyCoach, my startup, will give students one marketplace where they can get help with admissions and money to travel and study at colleges abroad," says Om Agarwal. "We are starting with services to students in India but will soon reach out to students in China and Brazil."

Startups with unique ideas are flourishing; like Anirudh Poddar and Aditya Ladsaria's Chai Break restaurant, which was started on a capital of Rs. 50,000 five years ago, and is up to six restaurants already.

"There are lots of coffee chains in the country but we want to focus on tea," said Anirudh Poddar.

The startup fever in Kolkata seems set to be on the rise and could make the city of joy the country's next startup destination.

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