Category — Innovation(RnD)

Worldwide Entrepreneur Network Techstars Enters India

Boulder, Colorado-based Techstars raised startup funding and helps launch businesses through its startup accelerator and development program entered into a joint venture with India’s Bangalore-headquartered ANSR which offers startups-focused infrastructure.

Techstars India Logo

The Economic Times reports that Techstars, which holds a majority share in the joint venture, aims to open centers across multiple locations in India in a few years. The first center will be launched in Bangalore next year. “The launch of Techstars India will provide an impetus to the rapidly growing startup ecosystem and the emergence of India as a dominant entrepreneurial network,” said Lalit Ahuja, CEO, ANSR.

Techstars operates four divisions: a startup program, an accelerator, corporate innovation partnerships, and a venture capital fund. Typically, startups selected to Techstars’ three-month accelerator program are offered $20,000 in exchange for 6% common stock, and a $100,000 convertible note upon acceptance.

 

September 15, 2017   No Comments

India’s Infosys To Set Up Innovation Hub in Raleigh

In a blog  post in  May, I mentioned that India’s second largest software services firm Infosys will establish a central Indiana tech center, the first of four facilities it plans to launch as part of a broader expansion in the United States. The company recently announced that it will set up a technology and innovation hub in Raleigh, North Carolina, a 60,000 sq ft facility which will open in early 2018 and will house 2,000 American workers by 2021.

An Infosys facility

“The North Carolina Technology and Innovation Hub will focus on delivering cutting-edge solutions in artificial intelligence (AI), machine learning, data and advanced analytics, cloud and big data,” Infosys president and deputy COO Ravi Kumar said. The North American market accounted for over 60 percent of Infosys’ $10.2 billion revenue in the 2017 fiscal.

NDTV reports that Infosys will partner with the North Carolina Community College System to create a customized program to train the workforce. “We plan to include pre-employment training…as well as extensive post-employment training that will focus on technical and soft skills,” North Carolina Community College System vice president of Economic Development Maureen Little said.

 

 

September 14, 2017   No Comments

IndiaPushes Auto Industry to Make Electric Vehicles

India’s is pushing auto part and car makers to draw up plans to electrify all new vehicles by 2030. India’s minister for road transport, Nitin Gadkari, asked companies to start building electric and alternative fuel vehicles or risk being overtaken by policy changes.

Maker of engines, Cummins India, is investing in research on electric mobility solutions, while Hyundai Motor Co began talks with some of its suppliers for components for electric cars. Ashok Leyland launched an electric bus last year, and the company has since partnered with Indian start-up SUN Mobility to develop battery-swapping technology for cars, buses and trucks, reports Daily News.

electric car

According to industry data, electric car sales in India, one of the world’s fastest-growing car markets, are negligible compared with annual sales of over 3 million petrol and diesel cars in the last fiscal. Mahindra & Mahindra is the only electric car maker in India but it will soon be joined by Tata Motors which is exploring the possibility of building electric vehicles, managing director Guenter Butschek said. Hyundai said it plans to customize existing electric cars for the Indian market, but if that was not feasible it will develop new electric cars said Rakesh Srivastava, director, sales and marketing.

 

September 14, 2017   No Comments

Chip Maker AMD to Expand India R&D

Sunnyvale, CA-based semiconductor company Advanced Micro Devices which currently has a staff of approximately 1,300 in India, plans to hire more engineers at its two research and development centers in the southern cities of Bangalore and Hyderabad.

Jim Anderson, senior vice president, AMD said that the company will “continue to grow at these centers”  because a lot of advanced engineering work was being done in India. “For our Ryzen Mobile processor, lot of engineering work was done at Hyderabad,” he added.

chips

Stating that India is an important market for California-based AMD, Anderson said that there is a huge market for business PCs, and the company aims to increase its share with aggressive marketing of its new products, reports BusinessLine.

September 13, 2017   No Comments

Indian Council of Medical Research Partners on Vaccine R&D

The Indian Council of Medical Research (ICMR) entered into an agreement with the International Vaccine Institute (IVI) to collaborate on vaccine research and development. India will commit $500,000 annually for a stake in IVI. According to the Memorandum of Understanding, ICMR will focus on research and development of vaccines to combat various infectious diseases such as tuberculosis, malaria, chikungunya and influenza, among others.

Image of Vaccines
 ICMR director general Soumya Swaminathan outlined the partnership:
  • Vaccine candidates developed in IVI labs can be transferred to one of the companies in India for further development
  • IVI will facilitate further global testing of vaccine candidates developed in India’s labs by linking developers here with global partners
  • The partnership will help with capacity building for clinical trials within India
  • IVI will support in conducting phase II and III trials for the candidate, if required

Jerome H. Kim, director general of IVI said that India supplies 60% of the world’s vaccines for vaccine-preventable diseases and contributes up to 80% of the United Nations’ annual vaccine purchases, reports the Economic Times. “We look forward to having India’s representation on the IVI Board of Trustees, which will increase engagement with Indian academia and industry even further,” Kim said.

September 1, 2017   No Comments