IDFC FIRST Bank Launches FIRST Wings Start-Up Lounge to Empower Indian Start-ups

IDFC FIRST Bank, today announced the launch of startup lounge an exclusive space designed to support entrepreneurs and empower early-stage startups in India. Located in Koramangala, Bengaluru, this unique space aims to provide essential resources, mentorship, and networking opportunities for entrepreneurs looking to scale their businesses.

On the occasion Mr. Bhavesh Jatania, Head Start-up Banking, IDFC FIRST Bank said “We are excited to announce the IDFC FIRST Bank Start-up Lounge, a first of its kind initiative by a bank in India. The Start-up Lounge will serve as meeting and collaboration point, providing entrepreneurs a conducive environment to innovate and grow. IDFC FIRST Bank will also partner with leading incubators, accelerators, venture capitalists and angel investors, creating synergies that will help startups gain competitive edge in a fast- evolving business environment.”

The FIRST Wings Start-up Lounge is equipped with state-of-the-art facilities, including meeting rooms and advanced video conferencing solutions, creating an ideal environment for entrepreneurs, and investors to connect, collaborate and grow.

To provide additional support to the entrepreneurs the Start-up Lounge will also host events:

• Knowledge Sessions: Access to a curated knowledge resources and mentorship sessions conducted by industry experts.
• Networking Events: Events that connect startups with investors and industry experts.
• Pitch Presentations: Present business ideas to potential investors and receive valuable feedback.

Key features of the First Wings Startup Banking Program by IDFC FIRST Bank:

• FIRST Start-up Current Account: Zero fee current account with free banking services with no minimum balance requirement for initial three years for early-stage startups.
• FIRST Bravo Feature: A smart sweep facility that allows startups to earn returns up to 7.25% on idle funds by automatically transferring excess amounts over Rs 2 lakhs into fixed deposits.
• FIRST Business Corporate Credit Card: Designed to help start-ups manage their business expenses with a flexible step-up credit feature.
• Founder Success Program: “LeapToUnicorn” one of its kind initiatives that provides access to mentorship, networking and fundraising opportunities through a meticulously planned journey.

Conclusion

With the support of various ecosystem partners, including investors, government bodies, and accelerators, the FIRST Wings Start-up Lounge aims to act as a catalyst for start-up growth. By bringing together key players in one space, IDFC FIRST Bank is helping startups navigate the complexities of growth and innovation.

About IDFC FIRST Bank

IDFC FIRST Bank is a new age Universal Bank in India built on the foundations of Ethical Banking, Digital Banking, and Social Good Banking. We are building a world class bank in India.

As part of the Bank’s ethical banking approach, it applies a "Near and Dear" Test to its products, so that the employees of the Bank serve only such products they'd want for their own loved ones. It believes income earned unethically is not worth earning.

Therefore, the Bank avoids complicated descriptions, calculations, and legalese that customers don’t understand. It abolished all charges on Savings Accounts including for Debit Cards, IMPS, RTGS, NEFT, Cash Deposit, “Non-Home branch” access, Cash withdrawals at ATMs and at branches, 3rd party transaction charges at branches, SMS Alert, Cheque book, Demand Drafts, Pay-order, duplicate statement, and all such services that are usually charged in the market. It follows the principle that it won’t touch its customers’ bank account for one reason or other. It is the first and only bank in India till date to do so.

IDFC FIRST Bank is the first bank in India to offer monthly credit on savings accounts. The credit cards have no hidden charges. It offers Lifetime Free without minimum spend conditions, never-expiring rewards points, zero interest on cash withdrawal at ATMs, dynamic low APR and much more. Fees if any are transparent and described neatly in a manner a common person can understand. Every product offered by the bank is highly customer friendly, most often the best in the industry.

As part of technology led banking, the Bank has built a modern technology stack and has built an advanced mobile app with 250+ features such as Goal based investing, MF investment assistance, electric-speed payments, Account Aggregator, MF Aggregator, Personal Finance Manager, Auto categorisation of spends, single app for personal and business banking, UPI on Credit Cards, travel and shop, bill and recharges, deals and reward redemptions, which offer great convenience to the customers. For business customers the Bank offers on-the-go bulk payments, ability to pay income tax, GST, customs duty, and connected banking with ERP solutions.

As part of the Social Banking theme, the Bank’s business model is naturally geared to social banking. It has developed unique capabilities for financing bottom of pyramid customers with consistently high asset quality. The Bank has financed over 40 million customers including 0.3 million SMEs, 0.9 million livelihood (cattle loans), 16 million lifestyle improvement loans (for laptops, washing machine, etc.), 1 million sanitation loans (toilets, water fittings), 6.5 million mobility loans (2-wheelers and cars), and home financing (over 100,000 homes), and 15 million loans to 4.3 million women-entrepreneurs. It also offers other retail and rural loans such as Kisan Credit Cards, harvest financing, gold loans etc.

IDFC FIRST Bank is a Universal Bank, and offers end to end Corporate Banking, Trade Finance such as issuance of LCs & BGs, SBLC, Packing Credit, Pre-shipment and Post-shipment Finance, Treasury products including risk hedging solutions like Forwards, Swaps, Options, and other Forex Solutions, SME Banking, Wealth Management, NRI banking, Cash Management, Nostro & Vostro account operations, Escrow facilities, Correspondent Banking, Fastag, Toll-acquiring, Dealer Finance and Purchase/Sales Invoice discounting.

ESG Goals: The Bank is incorporating ESG in every aspect of working and has high ESG scores. The Bank believes that to get an opportunity to create a new age, ethical and world class Bank for India is a great privilege for its employees.

SOI Signed Between Atal Innovation Mission (AIM) and Sabeer Bhatia’s ShowReel

SOI signed between Atal Innovation Mission (AIM) and Sabeer Bhatia’s ShowReel; Collaboration aims to tackle youth unemployment by fostering a culture of entrepreneurship in young Indians

• Aligned with AIM’s, Govt. of India’s, flagship initiative to promote a culture of innovation and entrepreneurship in the country, ShowReel will empower Bharat’s youth with the right tools and mindset to launch and sustain successful business ventures
• The SOI is aimed at empowering young Indian entrepreneurs from smaller towns and non-English speaking communities

A Statement of Intent (SOI) was signed between Atal Innovation Mission (AIM) and ShowReel (Tiptop-ShowReel Private Limited) to create better opportunities for young and budding entrepreneurs in India. The collaboration aims to double down and support AIM in its efforts of fostering a culture of entrepreneurship and innovation in India. By democratising access to the right tools and resources, AIM and ShowReel want to empower young Indians, with a special focus on smaller towns and non-English speaking communities, to tackle the unemployment.

AIM has been at the forefront of providing infrastructure and support necessary to develop and promote an entrepreneurial ecosystem at universities, research institutes, the private sector, and MSME sector in India. All its initiatives are measured and monitored continuously for success and improvements to foster curiosity and innovation in young minds of the country. Sabeer Bhatia's ShowReel, an ecosystem that encourages entrepreneurship in the developing world, will deliver a TV show, software, video technology, and entrepreneurial skills through this SOI and provide aspiring entrepreneurs the tools they need to successfully obtain investment and launch a business.

Talking about the partnership, Sabeer Bhatia, Founder, ShowReel (Tiptop-ShowReel Private Limited), (co-founder, Hotmail) said, “Building technology with a purpose has always been my inspiration, and at ShowReel we are committed to providing youth in India web-based tools to succeed in business with skills, knowledge and support for entrepreneurial development. The current state of the global economy is a little challenging, with unemployment looming as a major issue that needs to be handled by national governments. We truly believe that the youth unemployment crisis can be solved through fostering a culture of entrepreneurship in India. AIM has proven to inspire young minds in the country by giving them opportunities to scale. We are happy to work with AIM and the Government of India to support youth in the country and help them successfully foster the “the next big idea”.

Looking at the potential of the partnership, Mission Director, Dr Chintan Vaishnav of Atal Innovation Mission (AIM), said, “We are always looking to partner with organisations that can help in creating a collaborative working system to enhance the entrepreneurial ecosystem in India. With ShowReel on board we feel Mr. Bhatia’s expertise will help us reach potential entrepreneurs from all parts of the country. Young people from smaller cities have had fewer opportunities and we want to help them by introducing them to the entrepreneurial way of thinking so that they can acquire the skills and mindset required to start their own successful business journey.”

This initiative will primarily target regional areas of the country in an effort to confront the existing, often class-room centered rote learning system, and to impart the knowledge and abilities needed to flourish as an entrepreneur in a social media-optimised environment. Both, AIM and ShowReel have a keen interest in building entrepreneurship journeys of people and both parties through this SOI want to educate, motivate and instill the feeling of building something of your own amongst the youth of the country. The SOI will provide various avenues to budding entrepreneurs in the country including the platform of ShowReel TV along with other initiatives to further India's innovation ecosystem. This SOI will create a huge impact on the Indian entrepreneurial ecosystem as millions of youngsters will now have an opportunity to fulfill their dreams of becoming entrepreneurs.

About ShowReel:

Founded in 2021, ShowReel is headquartered in Silicon Valley, California. ShowReel is founded by Indian - American tech entrepreneur Sabeer Bhatia who co-founded Hotmail in 1996 which was later acquired by Microsoft. ShowReel is a global, secure, and credible platform that brings alive conversations that are purposeful and empowers individuals with opportunities to get one step closer to their goals and dreams.

Learn more on: https://www.showreelapp.com/


About Atal Innovation Mission (AIM):

Atal Innovation Mission(AIM), NITI Aayog is the Government of India’s flagship initiative to create and promote a culture of innovation and entrepreneurship across the country. Over the last 6 years, AIM has established 10000 Atal Tinkering Labs(ATLs), 69 Atal Incubation Centers(AICs), 14 Atal Community Innovation Centers(ACICs) and supported 55 Startups/Micro, Small, and Medium Enterprises (MSMEs) through its various schemes.

AIM has engaged and supported more than 75 lakh students, 9800 teachers, 3300 startups, 5800 mentors and hosted 100+ challenges to create an Innovation Ecosystem.

To Skill Youths in Entrepreneurial Education, SIDBI Signs MoU with Delhi Skill and Entrepreneurship University

SIDBI signed MoU with Delhi Skill and Entrepreneurship University to accelerate Education 4 Entrepreneurship

Small Industries Development Bank of India (SIDBI) signed MoU with Delhi Skill and Entrepreneurship University (DSEU) to extend “Mission Swavalamban” by venturing into entrepreneurial education for skilled youths and similar other initiatives to give impetus for entrepreneurial education. 

SIDBI and DSEU partnered to nurture aspiring youth to infuse entrepreneurship and enterprise as preferred career choice. DSEU will develop a curated courses and launch multiple initiatives in partnership with SIDBI to help and guide aspirants to learn the basics of entrepreneurship and start their own Micro Enterprises. The MoU was signed at DSEU campus in Delhi on May 31, 2022. While SIDBI shall facilitate through its experience in entrepreneurship promotion, credit connect and linkages with Enterprise Ecosystem, DSEU would provide customized entrepreneurship courses to skilled and aspiring youths to set up enterprises as per market demand. DSEU shall also provide handholding and mentorship support to youth to launch and scale up their enterprises.

On this occasion Shri Sivasubramanian Ramann, Chairman and Managing Director of SIDBI said, “We are poised to be an ever-strong enterprising nation. In order to further strengthen the nations enterprise eco system, Sidbi intends to join hands with academic/specialized institutions / universities to take entrepreneurship course leading to job creator in making. Transitioning youth dreams into enterprise shall be mainstay of such collaborations. This structured initiative will lend impetus to the culture of entrepreneurship. We envision that by attending such focused course, a skilled person who aspires to become an entrepreneur, shall get hands-on experience for setting up enterprise.”. Dr R.K. Singh, CGM SIDBI while signing the MOU reiterated SIDBI’s commitment for MSMEs and vision to have one entrepreneur in every household.

Prof. Neharika Vohra, Vice Chancellor, Delhi Skill and Entrepreneurship University expressed joy at the signing of MoU with SIDBI and said that “this partnership with SIDBI shall lead to many innovative paradigms in the entrepreneurship ecosystem. We endeavor to build processes and systems with the support of SIDBI to enable young entrepreneurs, especially women entrepreneurs for ease of doing business in the city. The idea is to work on mindsets and building agencies rather than simply supporting them with a seed fund.”

About Delhi Skill and Entrepreneurship University

DSEU, set up by the Delhi Government, is envisioned as a world-class institution that provides quality education in applied sciences & skilling, has close market linkages, focuses on market readiness, promotes innovation and entrepreneurship, delivers lifelong learning opportunities to candidates, and provides a trained and employable human resource that can drive Delhi’s and the nation’s economic growth.

For more information, visit https://dseu.ac.in/

About SIDBI

Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures.

For more information, please visit:  https://www.sidbi.in/  

Ashraf Patel, India's Only Woman Social Innovator of the Year 2022, Addresses WEF Annual Meet at Davos!

Ashraf speaking at WEF annual Meet

‘Transforming through Trust' - Ashraf Patel, The only Indian Woman Social Innovator of the Year 2022, speaks on Youth Leadership at World Economic Forum Annual Meeting 2022 - Davos

Ashraf Patel, the only Indian woman to be recognized by World Economic Forum (WEF) and Schwab Foundation as the Social Innovator of the Year 2022, takes the stage at Davos to highlight the need to invest in youth-centric development across sectors. The World Economic Forum (WEF) Annual Meeting 2022, is being held from 22-26 May in Davos-Klosters, Switzerland. The theme this year is History at a Turning Point: Government Policies and Business Strategies and brings together nearly 2,500 leaders and experts from around the globe, all committed to the “Davos Spirit” of improving the state of the world. As a part of the Annual Meeting, 15 Social Innovators from across the world were celebrated for their efforts to transform the world.

Ashraf Patel from India was recognized as one of 15 global Social Innovators by Schwab Foundation at the WEF Forum in January 2022 as Co-Founder, Pravah and ComMutiny - The Youth Collective. Speaking at the session ‘Transforming through Trust’ on 23rd May 2022, Ashraf called upon global leaders to invest in youth leadership at scale, by trusting in their abilities to address the most complex challenges that the world is facing in terms of inequality, conflict and ecological decline.

After nearly three decades of investing in building the youth development sector in India Ashraf, addressing global leaders and experts at the Annual Meeting, said, “Young people once trusted and brought into key and significant intergenerational decision making and dialogue spaces, not only bring alternative perspectives, but can help us challenge together, the status quo, bring out new innovations, entrepreneurship and spur tremendous social change action by being the change they want to see in the world.”

To work at scale with soul on youth leadership, Ashraf invited greater collaboration and solidarities across all sectors to realize the mission Every youth a Jargik, Every Space Nurturing Jagriks, where the Jagrik is a self awakened active citizen who inspires others. She highlighted the need to co-create such spaces with young people that nourish, love, learning, ownership, freedom and social hope.

Pravah, ComMutiny - The Youth Collective and the vartaLeap Coalition’s collective experience has repeatedly shown that young people are not leaders of tomorrow, but are leaders of today. As the COVID-19 pandemic threw up challenge after challenge, young people led from the front, investing time, money and heart in not just saving millions of lives but also in creating hope. Investing in youth leadership is not a saving for the future, it is an imperative for saving lives now.

While the Annual meeting is a coordinated effort to bring together all stakeholders to ensure a sustainable and equitable post-COVID era, topics ranging from harnessing emerging technologies for empowering the marginalized to systemic solutions for the world's most pressing problems were discussed during the ‘Transforming through Trust’ session.

Some other speakers at the session included Hilde Schwab, Chairperson and Co-Founder, Schwab Foundation for Social Entrepreneurship and WEF; Hahrie Han, Inaugural Director, SNF Agora Institute and Professor of Political Science, Johns Hopkins University; Sam McCracken, Founder and General Manager, N7, Nike Inc and Sanjay Pradhan, CEO, Open Government Partnership.

In today’s deeply interconnected world, it is only through collaboration that all stakeholders can make a difference to transform lives. As shared by Klaus Schwab, Founder and Executive Chairman, World Economic Forum, “The Annual Meeting is the first summit that brings global leaders together in this new situation characterized by an emerging multipolar world as a result of the pandemic and war. The fact that nearly 2,500 leaders from politics, business, civil society and media come together in person demonstrates the need for a trusted, informal and action-oriented global platform to confront the issues in a crisis-driven world.”

World Economic Forum Annual Meeting 2022:

For over 50 years, the World Economic Forum has been the international organization for public-private cooperation. The Annual Meeting is the focal point for leaders to accelerate the partnerships needed to tackle global challenges and shape a more sustainable and inclusive future. Convening under the theme 'History at a Turning Point: Government Policies and Business Strategies', the Annual Meeting 2022 and its 200 sessions brings together global leaders from business, government and civil society. Learn more about the programme and view sessions live and on-demand. A list of confirmed public figures can be found here.

Civil society is being represented by more than 200 leaders from NGOs, social entrepreneurs, academia, labor organizations, faith-based and religious groups, and over 400 media leaders and reporting press. The Annual Meeting will also bring together younger generations, with 100 members of the Forum’s Global Shaper and Young Global Leader communities participating.

About Ashraf Patel, Pravah and ComMutiny - The Youth Collective

Ashraf has been recognized as a flag bearer, pioneering youth work and giving youth development a language in India for over three decades as the Co-Founder of Pravah and ComMutiny - The Youth Collective. Over the last 29 years her work in Pravah and ComMutiny has been to advocate for a psycho-social approach to youth development; investing in young people not just to impact society at scale but also to transform mindsets and attitudes. This change in lens to development has been instrumental in creating sustainable impact on issues ranging from social inclusion, active citizenship, youth leadership to gender-based violence, patriarchy and 21st century skill building.

In addition to her roles at Pravah and ComMutiny, she is also bringing together the vartaLeap Coalition, a cross-sectoral formulation of 260+ youth engaging organizations and individuals from the development sector, government, media, educational institutions, and UN agencies who are working towards the mission ‘Every youth a Jagrik (Jagrik: a self-awakened, aware and active citizen), Every space nurturing Jagriks’. 

The VartaLeap Coalition became one of the most impactful collaborations in the country with a collective experience of 1500 years plus in youth development. The members are together playing a pivotal role in bringing partners from varied fields to experience and invest in youth centric approaches.

Together, this ecosystem has ‌actively engaged over 1200 youth organizations, supported the learning and leadership of more than 1 million young people and has an estimated outreach of over 50 million people through on-ground and online campaigns.

Ashraf has contributed significantly to framing policy and practice on adolescent and youth development at National and International levels. She has co-authored a number of learning resources and a field resource book 'Ocean in a Drop – Inside Out Youth Leadership' (Sage 2013). She is an Ashoka Fellow and the Social Entrepreneur of the Year (SEOY 2020). She is currently on the Board of leading organisations like Oxfam India, PHIA Foundation, IBTADA, Commonwealth Alliance of Youth WorkAssociations, International Forum for Volunteering in Development (IVCO) and a member of Vikalp Sangam, Catalyst 2030 and The WellbeingEcosystem.

Applications Open for Jubilant's 'Social Entrepreneur of the Year' (SEOY) India Award 2022

Award applications are invited for the 13th edition of the prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2022’

Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, invite applications for the13th edition of the prestigious annual award - Social Entrepreneur of the Year (SEOY) India 2022.

The last date for receiving applications for the Social Entrepreneur of the Year (SEOY) India Award is April 20, 2022. Candidates can participate by submitting the application form available at www.jubilantbhartiafoundation.com or email the filled form to jbf.seoy@jubl.com.

The Social Entrepreneur of the Year - India Award is a joint initiative between the Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship (the sister organisation of the World Economic Forum). The award recognises individuals and organisations who implement innovative, sustainable and scalable solutions to address pressing issues faced by under-served communities in India. The winner of the Social Entrepreneur of the Year (SEOY) India Award 2022’ will be announced in September 2022. The winner is awarded by a prominent chief guest in a magnificent ceremony every year.

Social Entrepreneur of the Year India Award – 12 years of Recognizing Change

• Indian Social Entrepreneurs Pioneering Change Revolution: Over 1700 unique social innovation applications received in 12 years
• Women Change-Makers front lead: 7 out of 12 winners of the SEOY India award are women social entrepreneurs and ~34% applications are from women social entrepreneurs ( 579 applications out of 1700 applications are from women social entrepreneurs)
• Diverse Scale of Interventions: Turnover of participating social organisations range from Rs 1 million to Rs 600 million!
• More Stringent Evaluation: Two parameters for evaluation of social entrepreneurs – Market-based and Technology-enabled solutions added since last two years.
• New Trends in Social Entrepreneurship: In the recent years, sustainable farming and clean technology have emerged as new areas of social entrepreneurship These promising and successful social entrepreneurs with excellence in large-scale system change models work in diverse areas such as health, education, employment, water, clean energy, building identity & entitlements, financial literacy, access to information and technology, among others.
• A Global Platform: The Indian Social Entrepreneur of the Year Award gives the winner and finalists of the award an introduction to a global community of fellow entrepreneurs so that they can engage with public figures as peers, directly influence decision making, draw funding and enable further partnerships, hence helping them to extend their reach and impact exponentially.

Benefits to winners through a three-year core programme:

• Access to the world’s most influential network: Opportunity to connect with key partners at regional and global summits and Schwab Foundation’s digital platform TopLink and to learn sector-specific best practices and scale solutions through partnerships
• Showcase awardees’ solutions to the highest level of decision-makers through award ceremonies, media campaigns, videos and speaking roles.
• Build the leadership capacity of awardees by strengthening their organisational and business strategies through executive education programmes at top universities, practitioner-oriented research, and curated programming at global and regional meetings.
• Create spaces for reflection and peer-to-peer mentoring to equip awardees with the support systems to lead their organisation and drive trust-based collaborations

Parameters for Selection: The participating individuals and organisations are evaluated on the critical parameters of Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability. The finalists every year are selected through a rigorous process, including expert reviews and site visits. The winner is chosen by a prominent Jury consisting of eminent leaders and professionals from the Government, Business, Media, and Civil Society.

The Social Entrepreneur of the Year (SEOY) India Award aims to promote and celebrate leading social entrepreneurs and their unique ventures in India that help address the gaps in society and the country. The SEOY India Award not only inspires existing social entrepreneurs to further amplify their work and impact so as to become a part of this select community of social innovators but also inspires individuals with a penchant to bring change to choose the path of social entrepreneurship.

About Schwab Foundation for Social Entrepreneurship , it was co-founded by Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and his wife Hilde. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation. Learn about us at www.schwabfound.org and follow us on Twitter: https://twitter.com/schwabfound

About Jubilant Bhartia Foundation (JBF), established in 2007, is the not-for-profit organisation of the Jubilant Bhartia Group. It focuses on conceptualising and implementing the Corporate Social Responsibility initiatives (CSR) for the Group. The Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiatives, vocational training, women empowerment, educational activities, and promotion of Social Entrepreneurship. www.jubilantbhartiafoundation.com

Follow Jubilant Bhartia Foundation on:

Twitter: @indiaseoy
Facebook: https://www.facebook.com/IndiaSEOY/

Follow the Schwab Foundation for Social Entrepreneurship on:

Twitter: https://twitter.com/schwabfound

Facebook: https://www.facebook.com/schwabfound/

Innopreneurs' 6th Edition Picks Up 10 Start-Ups from India and Neighbouring Countries

Innopreneurs, a platform for start-up founders, entrepreneurs, and aspirants to showcase their ideas in action and reap the benefits of validation, networking, mentoring, and funding opportunities today announced the 10 winners of its 6th edition in presence of Chief Guest, His Excellency Lyonpo Loknath Sharma, Minister of Economic Affairs, Bhutan.

“Innopreneurs was organised over a period of one year, and it our 6th edition of Innopreneurs, we have been able to give a stage to over 350 start-ups and entrepreneurs and conducted over 35+ digital rounds. In this 6th edition, we were able to take Innopreneurs to India and 5 other countries around the world and in the process sign over 150 partners. We had over 1000 start-ups registered and over 5000+ entrepreneurs as audience,” said Deepak Menaria, Founder & CEO Lemon Ideas.

His Excellency, Lyonpo Loknath Sharma, Minister of Economic Affairs, Bhutan, “I want to convey the greetings of his excellency the king of Bhutan. We would like to have more interaction and partnerships with the Lemon family. You have created a really good ecosystem; we want a similar ecosystem in Bhutan through you. We need mentors and people to aspire to our young entrepreneurs and I see Lemon playing a pivotal role in doing this. Entrepreneurs have to not only look for money but should focus on inner peace. Skilling is important for us we want your support in that.

With over thirty regional rounds in the country itself in Jammu and Kashmir, Punjab, Delhi-NCR, Rajasthan, Gujarat, Uttar Pradesh, Madhya Pradesh, Maharashtra, Karnataka, Chhattisgarh, Orissa, Puducherry, Tamil Nadu, Assam, and Telangana etc., Innopreneurs was organised in 5+ in Maldives, Afghanistan, Nepal, Bhutan and Sri Lanka.

Aurum Ventures, 100x.vc, and NextGen Ventures, Ah!Ventures, Venture Catalysts, Indian Angel Network, FundVice, Faad Network, Chandigarh Angel Network, VDOSH Capital were among the investment panels supporting the entrepreneurs. The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), an international organisation created for sustainable development with worldwide operations in various parts of their world supported the programme.

“Good to see one more year of Innopreneurs, now spreading across South East Asia. Good work filtering the top 10, I found it worth my time listening to all of them. I am very impressed with the kind of innovations here. I want to see this forum grow into a community that is engaged continuously and has continued learning,” said Nagaraja Prakasam, Angel Impact Investor & Partner - Acumen Fund.

“I was on the Finale Jury, the ideas I witnessed were amazing they have great potential! What impressed me the most is the variety of ideas; it throws light on the effort that has gone into bringing all these ideas here. Lemon has been a very valuable partner for GIZ. We are coming out with programs to include some of the start-ups in the Indo-German connect program.,” Mr. Shankar Kumar (Special Guest), Technical Expert & Advisor at GIZ.

Vatsal Kanakiya, 100x venture capital, said “This was a wonderful experiences. Very innovative ideas for both local and global contexts. I am blown away by the quality of pitching and teams.”

"Lemon's ecosystem is nurturing. My biggest takeaway was the collaboration spirit. I enjoyed this journey thoroughly and learnt a lot from the start-up community,” said Anil Alex, Sales Leader - India & ANZ at Portescap.

"Exciting to see age is just a number (contestant's age bracket 15 - 58), it doesn't affect the depth of work. There were many varied fields, but one thing I found common, is the passion among all of them and resilience to achieve the ideas," said Dr. Charvi Mehta, Technical Expert at GIZ.


As a competition that was launched by Lemon Ideas in 2014, the platform has evolved from a conventional B-plan contest to a platform capable of transforming the definition of entrepreneurship as a whole. With various partners ranging from an Embassies, Incubators, Ecosystem Organizations, Co-working Spaces, Government Departments, Corporates etc., this year Innopreneurs was able to bring many voices to the table.

LIST OF WINNERS

Winner

HVA Chemical Solution Pvt. Ltd. Paramakudi, Tamil Nadu: They use non-recyclable waste single-use plastics and convert it into a solid fuel of high calorific value that can be used for burning and combustion instead of other traditional solid fuels like wood, bio-briquettes, coal in many industries.

Runner up

Druksell Thimphu, Bhutan: Largest online marketplace for authentic Bhutanese products made and grown in Bhutan, where customers from around the world can shop, buy, and get their orders delivered at their doorsteps in their own home country.

2nd runner up

Solnce Green Energy Surat, Gujarat: A stand-alone and decentralized Solar Thermal Desalination Technology, which can convert seawater into mineralized drinkable.

Hesa Rural/Last mile connect Hyderabad, Telengana: Bridging the gap for world’s largest customer base that resides in rural India by connecting Bharat Phygitally – through Hesa’s digital Technology platform and physical army of Village Level Entrepreneurs, the “Hesaathis”. They are brand agnostic and help businesses with end to end access to rural markets.

Gowash Nagpur: E-Scooter Based Smart Washer which washes cars.

Agri Yug Kharagpur, West Bengal: They are making farmer’s lives easier by proving services from soil testing to market linkage affordable and accessible.

Rest of top 10

Supply.mv Male Maldives: Connecting virtual transparent relationships between buyers and sellers from different sectors and categories.

Chezuba Hyderabad, Telangana: A global online volunteering platform facilitating corporate employees and skilled professionals to assist NGOs through skill-based online volunteering.
iAudit Rajkot, Gujarat: a web-based application which automates Internal Audit processes and help organisations manage their risk in an accurate, comprehensive, and time-bound manner.

BMH Transmotion Nagpur, Maharashtra: A foldable & portable grain storage system without any fumigation, which aims to reduce grain losses.

Indian Crypto Entrepreneurs, Form An Industry-Focused Association Attempting To Communicate With The Government

India is on its way to lose a great potential opportunity Says CREBACO Global

NEW DELHI, Feb. 19, 2021 /PRNewswire/ -- Recently, the Ministry of Finance as per Lok Sabha Bulletin Part II, The Cryptocurrency and Regulation of Official Digital currency Bill, 2021, has indicated that the Government of India is planning to introduce a ban on trading and investment in private cryptocurrencies and allow the Reserve Bank of India (RBI) to develop and run its own digital currency, referred to as Central Bank Digital Currency (CBDC). This has triggered many conversations within media and the crypto market at large about the misconception of how the government defines cryptocurrencies (as private or public). Globally, top cryptocurrencies like Bitcoin, Ethereum, and other blockchain-based decentralised assets' are not viewed as private in nature, but rather more as Decentralized public assets, traded on public exchanges.

The industry believes that banning is not the solution. Most of the developed economies are working towards regulating it so that innovation around this new technology brings maximum fruits to their economies. Indian entrepreneurs should also be allowed to build companies of the future. The digital asset ecosystem is going to complement the economy and not displace it if properly regulated.

"This is an opportunity for the Indian entrepreneurs to create global startups early on. The proposed ban may destroy these young startups giving employment to thousands. To engage in a dialogue with the Government, entrepreneurs have joined hands together to form ABCE- Association of Blockchain & Crypto Entrepreneurs," said Sidharth Sogani, CEO of CREBACO Global.

After success in South East Asia, (Singapore, Thailand, Philippines and Malaysia) with the association of BlockOn Ventures, CREBACO has now emerged as an Indian leader in providing deep research and consulting and has proposed to Indian Government a comprehensive regulatory framework. The framework suggests definitions, current legal status, global status, India's own blockchain to actually run a CBDC. The framework also suggests methods to regulate the industry in a systematic manner keeping in mind the Indian ecosystem.

CREBACO worked with the law firm Khaitan & Co on this. "We were working on proposed regulations for almost a year," added Sogani in the conversation.

The report was submitted to all the ministries including the Ministry of Finance, Meity, PMO, NITI Aayog, Standing Committee, Cabinet Secretaries, SEBI, RBI, etc, "We made sure the framework reaches the right people and was sent by courier and email to all the Members of Parliament," said Sidharth. "Few MPs even reverted, and explanations related to the ecosystem are in progress," added Sogani.

As per the research data of CREBACO, the crypto industry is huge in India already with a potential market size of 15 Billion USD, over 10 million active users, and 5 major exchanges are already in operation for a few years. The industry has the potential to generate tax revenue for thousands of crores, generate employment opportunities for over 25,000 young and educated professionals, bring foreign direct investments in the country, and provide a livelihood to lakhs of crypto traders, majorly young in age.

The industry is currently fragmented and lacks a strong representative body to engage in a dialogue with the Government.

Highlighting the aspect of AtmaNirbhar Bharat, Sumit Gupta, Founder, CoinDCX felt, "Most of the players working in the crypto ecosystem today are Indian start-ups, which have been created by young skilled Indian entrepreneurs. The products developed in India treat crypto as an asset rather than a parallel currency. In fact, our industry wants to be regulated, taxed and work towards helping the government take a lead in this sector meanwhile adding revenues for it."

Today, Industry is announcing a dedicated crypto entrepreneurs association known as ABCE - Association for Blockchain &, Crypto and Digital asset Entrepreneurs.

"As an industry, we have been following the global best practices. This has helped us nurture and build a clean crypto ecosystem in India. With this association, we plan to work towards bringing positive crypto regulations to India. When every other country is bringing regulations, India should not be left behind," said Nischal Shetty, CEO of WazirX, the largest bitcoin exchange in India.

India is strategically positioned between China and the US Economy and can have a great opportunity if capitalized in the right manner.

"Than many other counties, India is best positioned to take advantage of crypto assets. Be it attempting in digitisation, saving mentality, one of the biggest inward remitter, opportunities in innovation/employment, and investment. The proposed crypto ban is not balanced in providing opportunities but only looking at how the technology can be misused and India has a lot to lose if it gets through." - Sathvik Vishwanath, CEO of Unocoin.

"The Indian government and the crypto industry share two sacred values," said ZebPay CEO Rahul Pagidipati. "First, we must protect the people from fraud and harm. Second, we must promote innovation to drive India's global economic leadership. A ban would be costly to enforce, ineffective in protecting people, and would stifle innovation or drive some of our best minds to foreign companies."

"The support from all the exchanges and industry participants is very encouraging. This ecosystem needs unity, I am sure that our Government will consider the proposal from ABCE before taking any further steps," said Manoj Jain, CEO of Bitfia Labs, a decentralised wallet and payment gateway company.

"Making this association is essential in getting the industry together, to have a dialogue with stakeholders in the Indian government, regulators and policymakers as their knowledge related to this industry is poor and unclear. Any emerging technology should not be controlled or banned; if it is, the place of the ban is usually punished as other jurisdictions expedite the development," said Jagdish Pandya, Chairman at BlockOn Group


About CREBACO

CREBACO is a multi-national research and intelligence company focused on Blockchain and Crypto industry globally. CREBACO has works with the government, special economic zones, regulators, investors and industry participants to help regulate the industry, achieve compliance and make the industry scam free by sharing insights, data, research and intelligence for making better decisions.

Contact us: info@crebaco.org
To Download the comprehensive proposed regulatory framework submitted to the government, visit crebaco.org (home page). You can also download the founder profiles, images, logos, and other material from the crebaco official website from the footer (MediaKit).

www.crebaco.org 

Meet the Makers, A Bootcamp for the Brightest Entrepreneurs in India

Global brand and customer experience agency VMLY&R, and Startup Réseau, a start-up ecosystem facilitator announced the launch of a virtual 30-Day Bootcamp program for emerging tech startups working in MediaTech.

The bootcamp, entitled Meet the Makers, will provide high-potential, emerging tech startups with insights and resources from VMLY&R’s senior leadership, including access to VMLY&R’s suite of tools, the agency’s global operation, and eventually, partners, clients and Fortune 500 companies. For start-ups, it’s the opportunity of a lifetime. For the agency, it’s a chance to innovate with some of the freshest minds in India building solutions to change the future.

To kick things off, Meet the Makers is looking for start-ups that have innovated in the AdTech, MarTech, AR/VR/MR, Immersive Technologies, Gaming, Data Aggregation or Content & Publishing domains. Start-ups who fit the bill are then selected for 30 days of hands-on mentorship by industry experts, offering a chance at a network of Fortune 500 clients, partners, and mentors.

The selected entrepreneurs will be mentored by VMLY&R’s experts in product innovation, UI/UX, brand + technology convergence and much more. They will also get to collaborate with a global media agency, impressive peers and become part of an alumni network over a period of time.

Commenting on the launch of Meet the Makers, Anil Nair, CEO, VMLY&R India said, “The pandemic has required businesses to be nimble in their plans and purpose, and the mantra 'innovate or die' has never been more relevant. The crisis highlights how important it is to match digital capabilities and products with agility and seamless integration, with an equal focus placed on continuity, scale, and scope. Meet the Makers is an effort to help startups realize their potential, grow and stabilize, which simultaneously helping create connected brands that live in their consumers' lives through innovative solutions. We’re thrilled to be facilitating this connection and look forward to more seasons to come.”

"We are pleased to partner with VML Y&R to co-create a 30-Day bootcamp program for emerging tech startups in the MediaTech domain. The objective of this MediaTech Bootcamp is to help high-potential mediatech startups with insights and resources from a “creative capital” perspective, and access to an industry network of Fortune500 clients and partners of VML Y&R. Selected entrepreneurs will learn about product innovation, UI/UX, Digital & mobile marketing, brand + technology convergence and more. We believe that the practitioners insights will enable the selected entrepreneurs in creating massive new opportunities in a growing market." - Sweta Tiwari, Co-Founder & COO, Startup Réseau.

For details on sessions, workshops, program takeaways, the proposed methodology, selection criteria, program phases or to apply, please visit: www.startupreseau.com.

VMLY&R is a global brand and customer experience agency that harnesses creativity, technology, and culture to create connected brands. Made up of more than 11,000 employees worldwide, the agency has principal offices in Kansas City, New York, Detroit, London, São Paulo, Shanghai, Singapore and Sydney. VMLY&R India works with client partners including Colgate Palmolive, Marico, Ford, ICICI Bank, Kraft Heinz, Future Group, PepsiCo, Abbott Pharma, and Swaraj Tractors For more information visit www.vmlyr.com. VMLY&R is a WPP company (NYSE: WPP).

Designed to Help Entrepreneurs Affected by the Pandemic, deAsra's Program Celebrates Success Of 25+ Businesses Getting "Back On Track"

PUNE, India, Jan. 11, 2021 /PRNewswire/ -- deAsra Foundation on 8th January celebrated the successful culmination of its 8-week long online program, Back On Track, that was designed to help entrepreneurs affected by the pandemic led lockdown to get 'back on track' by hosting a virtual graduation ceremony.

deAsra Foundation is a non-profit organization founded by Dr. Anand Despande, Founder, Chairman and MD of Persistent Systems Limited, with the aim to help entrepreneurs in their entrepreneurial journey. Dr. Deshpande believes that the answer to unemployment in the country lies in the creation of jobs by aspiring entrepreneurs, and with that objective in mind deAsra is committed to enabling people to start, manage and grow their business successfully, having already benefited 100,000 plus dePreneurs (deAsra-benefited entrepreneurs).

When the country went into a lockdown in March, owing to the pandemic, several businesses were adversely affected. deAsra recognised the problems faced by the businesses and rose to the occasion by offering a one of its kind, free of cost, 8-week long, expert-led program, 'Back On Track' (BOT), to help entrepreneurs increase their customer footfall and manage cash flows better.

With an intention to mentor 20 deserving candidates, deAsra went on to include 29 participants from across the country from varying business backgrounds, from 500+ entries received. These participants belonged to diverse fields ranging from food business owners to sustainable fashion entrepreneurs to nutritionists to MSME consultants to children's mental and creative learning experts, and facing problems such as 30 to 50% drop in business, cash flow management issues, difficulty in embracing digital marketing methods, etc.

The BOT program addressed these issues by dividing the program into 2 specific tracks- the cash flow management track and digital marketing track where industry experts and mentors provided workshops, one-on-one guidance and hand-holding to identify the problems and solve them effectively over the span of 8 weeks. The participants practically put to use the learnings, especially for digital marketing, under the guidance of these experts.

The subsequent positive results witnessed by the participants were heartening with a definite rise in lead generation and cash flow seen by 90% of the active participants.

To celebrate their achievement of getting back on track, deAsra announced cash prizes and rewards to the top three entrepreneurs who demonstrated measurable improvement in their businesses. The entrepreneur to win the first position was Vaidehi Rathi of Sharda Foods, a traditional Indian snack business with a 25-year legacy. She implemented the BOT learning to create a strong online presence, and increase the reach of her products across the city. The second position winner, Pooja Apte Badamikar manufactures designer and customised footwear from upcycled tyre scraps, giving sustainability a whole new meaning. The BOT program gave her international recognition and a new vertical for her products along with a growing digital foothold. Pranav Deshpande of Cakipaste, an eggless cake business offering unique flavours, was the third winner. He too utilised the BOT experience effectively, increasing his daily footfall significantly along with a flourishing online customer repertoire. Overall, all the 29 participants benefited significantly from the digital marketing program along with the cash flow management track and could see measurable results in their businesses.

This successful program was concluded with a virtual graduation ceremony felicitating all the participants with certificates handed out by the founders themselves - Dr Anand Deshpande and Sonali Deshpande.

The impressive success of the BOT program has propelled deAsra Foundation to create a model for many similar programs to be offered across various business topics, such as the Social Champ service. These programs and services are created to benefit entrepreneurs and assist them in getting their business back on track, in-line with deAsra's motto of helping businesses grow, expand and sustain at every stage. 

Over 5.54 Cr Entrepreneurs availed Loans under Mudra; Rs 10L Cr Sanctioned under this Scheme: Prez

More than 5.54 crore new entrepreneurs have availed loans under the Mudra scheme so far whereas credit in excess of Rs 10 lakh crore has been sanctioned under the scheme, President Ram Nath Kovind said on Friday.

In his address to the joint sitting of both houses of Parliament, the President said start-ups in India's small cities have grown at a rate of 45 to 50 per cent since 2014 whereas recognition has been accorded to 27,000 new start-ups under the StartUp India campaign across the country. He also added that India is home to the world's third-largest start-up ecosystem.

"The number of patents granted in the country has increased four times in the last five years, whereas trademark registrations have increased five-fold," said the President.

Describing the 21st century as the "Century of Knowledge", the President said the government's priority is to prepare the youth to provide leadership in this field and stressed that the youth will be at the forefront in this decade especially in research, innovation, incubation and start-ups.

"The youth are benefitting continuously from the policy decisions taken by my government in this regard," the President said.

The President in his address noted that tier-II and tier-III cities are emerging in a new role towards achieving the goal of a USD 5-trillion economy.

He lauded the progress achieved by small cities in areas related to sanitation, amenities, start-ups and other commercial activities.

"Through the Skill India Mission and National Apprenticeship Promotion Scheme, along with skill development, the youth are also being provided with necessary funds for self-employment. More than 5 crore 54 lakh new entrepreneurs in the country have availed loans under the Mudra scheme. So far, credit in excess of Rs 10 lakh crore has been sanctioned under this scheme," Kovind said.

Asserting that coordination among departments and dismantling of silos are absolutely essential for successful implementation of schemes, he said new ministries have also been created to facilitate better target orientation of schemes.

"Creation of the Ministry of Skill Development and the Ministry of Jal Shakti by the government is an example of this thought process," said the President. PTI RSN