Category Archives: Business & Economy

Rs 100-cr Fund:A Lifeline to Startups in Hyd

Business & Economy

Hyderabad :

The government of Telangana’s proposed Rs 100 crore fund, a first-of-its-kind initiative, is likely to give fillip to startups in the city, say industry experts. There are 1,000 to 1,500 startups in the city, over 200 of them in the IT sector, followed by those in other sectors like pharma, retail and agriculture.

While there are several angel investors offering financial support and technical guidance for entrepreneurs, they come in only after the startup venture reaches a certain stage. “The need of the hour is seed funding. Startups need capital and mentoring in the first 12 months of their venture after which angel investors take over,” said Ramesh Loganathan, president of Hysea and MD of Progress Software.

Typically, seed funding involves providing capital assistance ranging between Rs 5 and 50 lakh, where angel investments are between Rs 75 lakh and Rs 3 crore.

“The proposed Rs 100-crore fund can either emulate the Central Government’s Department of Science & Technology (DST) model, which offers soft loans and grants to potential ventures or the government can tie up with a few venture capitalists and co-invest in startups,” said Bipin Chandra Pendyala, secretary of Hysea and director of iKeva. According to Ramesh, currently, there’s absolutely no support, either financial or technical, for startups in the seed stage. “Every firm needs mentoring and capital in the first few months after starting the venture. That’s lacking and we have suggested to the government to consider bridging this gap,” he said.

While incubators like the T-Hub, also provided by the state government, give startups access to infrastructure like systems and servers, they will still need capital to hire a team and grow.

“Compared to mature markets like the Silicon Valley, seed capital for startups in India is in a nascent stage. This is a first state-level initiative and once operationalised, will help several upcoming ventures,” explained Bipin. The government, according to sources, is evaluating the business model and it is expected that the proposed investment framework will be operational in the next three or four months.

The government of Andhra Pradesh too has announced a similar Rs 100-crore fund for startups but there too the framework is yet to get operationalised. Hyderabad is home to over 1,400 IT and ITeS companies, and the state government has fixed an ambitious target of software exports to the tune of Rs 70,000 crore in FY15, up from Rs 57,000 crore in FY13. Meanwhile, the first phase of T-Hub will be ready in the next two months and will house 700 to 800 startups and will be scaled up to 1,500 or more later.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Telangana / by Sunitha Natti / April 02nd, 2015

‘My mother had already taught me to win’

Arts, Culture & Entertainment, Business & Economy, Records, All, World Opinion
Actor-producer Dia Mirza posing with members of the FICCI Ladies Organisation in Hyderabad on Saturday.– Photo: K. Ramesh Babu
Actor-producer Dia Mirza posing with members of the FICCI Ladies Organisation in Hyderabad on Saturday.– Photo: K. Ramesh Babu

Former MissAsia-Pacific Dia Mirza says she did not have to put in more effort at the contest as her parents had already instilled in her wherewithal to win

When a teenaged Dia Mirza first stepped into the world of beauty pageants by participating in the ‘Miss Asia-Pacific’ contest, she did not enrol with an intention to win. It was only later that she realised that her parents had already prepared her for what she would go through in the event.

“I remember crying a lot. I had written a long letter to my mother on how she had taught me most of the things I was preparing for the programme in Mumbai. All the girls there had come with an ambition to win, but I did not go there to win, but it was very interesting,” explained Ms. Mirza while interacting with members of the FICCI Ladies Organisation (FLO) here on Saturday afternoon.

Dwelling on her Indo-German background, Ms. Mirza mentioned how a 10-day part-time job at the age of 16 led to her first job. “Dr. Neeraj’s Multi Media Studio, which had hired me to work at their kiosk at Walden for those 10 days, had later offered me a full-time job, because they liked my work,” she said.

Ms. Mirza also mentioned how stressed she was during the ‘Miss Asia-Pacific’ competition, which was held in Manila, Philippines in 2000.

“I realised for the first time I was afraid, I could not let my country down,” she stated, and added that apart from acting and producing movies, working with terminally-ill children helped her. “The thing about them is that they don’t whine and ask ‘why me’,” she said.

source: http://www.thehindu.com / The Hindu / Home> News> National> Andhra Pradesh / by Yunus Y Lasania / Hyderabad – March 29th, 2015

Banks in Telangana clock 62% growth rate in crop loan disbursement

Agriculture, Business & Economy

Hyderabad :

Banks in Telangana have disbursed fresh crop loans worth Rs 16,997 crore clocking a growth rate of 62.29% after the government implemented the farm loan waiver scheme last year. In a meeting of State Level Bankers Committee (SLBC) on Monday, agriculture minister Pocharam Srinivas Reddy took stock of farm loan disbursement during October-December for 2014-15. SLBC officials appraised the minister on farm loan disbursements according to which banks have advanced or renewed fresh loans worth Rs 16,997 crore.

The review revealed that banks achieved 81% of the total agricultural target of Rs 27,233 crore by lending Rs 21,989 crore. While the number of branches in the state has reached 4,758, banks have collectively achieved total deposits of Rs 304,560 crore recording a growth rate of 8.71%. The annual credit plan target for the current financial year has been surpassed by banks with an achievement of 134% as on December 31, 2014.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Hyderabad / TNN / March 31st, 2015

Now, order your drugs online

Business & Economy, Science & Technology, World Opinion

Pharmacy chain MedPlus on Friday rolled out an e-commerce facility for customers in Hyderabad to order medicines online and collect the same from any of the 220 stores near them.

As an introductory offer, MedPlus is offering a discount of 15 per cent on medicines and 5-30 per cent on FMCG products purchased online. More than the discount, it is the accompanying convenience that will make a difference to users of the ‘Click, Pick & Save’ facility, MedPlus Health Services founder and CEO Madhukar Gangadi said at the formal launch of the facility.

With over 1,200 stores across the country, the company plans to extend the service to 50 cities in two years. Bengaluru and Chennai are the other cities where MedPlus has more than 200 stores, he said.

On why home delivery was not being offered to customers ordering medicines online, he said it was not permitted under law.

Explaining the benefits of the new facility, COO Surendra Mantena said the portal provides information about the medicine, the ‘dos and don’t’ and the alternatives, besides offering a host of other FMCG products. Customers ordering medicine need to furnish their prescription at the time of picking up the order, whereas home delivery of other products is available.

MedPlus is looking to have a network of 10,000 stores in three years, Dr.Gangadi said. It was in talks to raise $50-75 million of PE funds in six months, he added.

So far, the investment in the company has been $30 million and with the fresh funds, the company planned to build new facilities.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Special Correspondent / Hyderabad – March 28th, 2015

Award for SCCL

Business & Economy, Records, All

Singareni Collieries Company Ltd (SCCL) has been declared winner of the Golden Peacock Innovative Product/Service Award-2015 for processing overburden as stowing and construction material.

Former Supreme Court judge Justice Arijit Pasayat was the chairman of the jury which decides winners of the Golden Peacock awards for various aspects of corporate excellence. The award will be presented at a function in Dubai on April 20.

A release from the company said of the large amount of overburden generated while extracting coal in opencast mining, the top soil of 30-40 cm having nutrients has been stock piled separately for re-use or spreading on the back-filled areas for sustaining natural vegetation/plantation.

It set up a plant to process the overburden at Bhupalpally in 2010.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Special Correspondent / Hyderabad – March 29th, 2015

Responsible Indian BMO for ALEAP

Amazing Feats, Business & Economy, Inspiration / Positive News and Features, Records, All

Hyderabad :

In a major boost for aspiring women entrepreneurs, the Association of Lady Entrepreneurs of Andhra Pradesh (ALEAP) has been awarded ‘Responsible Indian BMO’ by MSME cluster foundation for its achievement in promoting responsible business practices in India’s first women industrial estate near Gajularamaram, Hyderabad.

The award was given by Madhava Lal, secretary to Union government, ministry of Micro, Small and Medium Enterprises (MSME), on March 17 in New Delhi.

ALEAP, which trains aspiring entrepreneurs, also received gold rating accreditation from the National Accreditation Board for Education and Training (NABET) Quality Council of India (QCI).

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service / March 27th, 2015

From homeopathy to building homes

Business & Economy, Leaders
Rameswar Rao Jupally.
Rameswar Rao Jupally.

Hyderabad :

Ordinarily dressed – in white shirt and black trousers – Rameswar Rao Jupally looks nothing like a business tycoon as he walks into the room for, perhaps, the first interview of his life. The only giveaway is the opulent hall where the chairman of My Home Group, counted among the few home-bred industrialists of Telangana, meets his guests.

“I have never done this before,” the homoeopathy doctor-turned-real estate biggie confesses, as he slips into tales about his modest upbringing and maiden trip to Hyderabad – from his remote village in Mahbubnagar – way back in 1974.

To think that the same boy from Kudikilla now rules two major businesses in the state, realty and cement (supplied to 11 states), and is set to launch a whopping $8 billion-worth ‘Smart City’ project spread over a sprawling 3,000 acres in Shamshabad, is definitely overwhelming.

“It’s my dream project. I have already accumulated 2,000 acres and am now in the process of acquiring another 1,000 acres. The project is in the planning stage and work on the first phase will commence in 2016. It will be completed in 10 years,” Rao reveals about the venture that’s expected to be “self-sufficient”, complete with top notch IT firms, high-end residential units, plush shopping complexes

and a dedicated ‘green belt’. Not to forget top-league corporate hospitals and educational institutions that’ll also be part of this ‘city’.

But before Rao gives a ‘smart’ makeover to Shamshabad – where he hopes to launch an electrical train line too – the spiritually-inclined industrialist is working on giving Hyderabad its largest commercial tower, with a total built up space of 3.2 million square feet (sft). Total cost: Rs 640 crore (roughly).

“Right now, the ICICI building in the Financial District (2.5 million sft) is the biggest. The one I am constructing on a single patch of 28.5 acres in Raidurgam will be bigger than that. The other patch of 3.5 acres (approx) will house 1,600 premium apartments, a 10-screen multiplex and mall. I hope to deliver it by the end of 2017,” Rao says.

He goes on to reminisce his days in 1979, when he made his first investment – of Rs 50,000 – to buy a two-acre plot in Dilsukhnagar. The deal, brokered with money borrowed from a maternal uncle, not only earned Rao a profit of Rs 2 lakh in two weeks, but also ensured that he bid his homoeopathy practice adieu, sooner than later, and plunge into the property business.

Three-and-half decades and an unwavering association with Chinna Jeeyar Swami, which the two struck up in 1992, later, the My Home founder is now a leader in the realty sector and also has three plants producing 8.5 million tonnes of cement every year. His brand, Maha Cement, posts an annual turnover of Rs 3,000 crore. In addition, he sells 30 MW of the total 70 MW of power produced by his captive power plants.

“The power crisis facing Telangana will be resolved by 2016-17. That’s when the city’s real estate business will bounce back,” an optimistic Rao, who prides himself in being futuristic and far-sighted, says. While he admits that the new TRS government did face administrative hiccups in its initial months, he is confident of ‘Team KCR’ living up to peoples’ expectations in the days to come. “The well-drafted industrial policy is an example of that. The government is working very actively on attracting investors to Hyderabad,” he adds.

But while Rao enjoys talking business, what gives him utmost comfort is his daily two-hour puja regime, frequent trips to Swamiji’s ashram in Shamshabad and the social activities that he undertakes under the Jeeyar Educational Trust banner.

It is this that Rao says, has saved him from falling prey to the ill-effects of big bucks and stupendous success!

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Hyderabad / by Sudipta Sengupta, TNN / March 05th, 2015

Furniture e-tailer Gets Big Funding Boost

Business & Economy

Hyderabad :

Serial entrepreneur Madhukar Gangadi, who founded MedPlus Health Services, said on Wednesday that his new venture, Customfurnish.com, had received Rs 16 crore funding from Dr Reddy’s Laboratories’ chairman Satish Reddy, Peepul Capital founder Srini Raju and former MD of Microsoft India Srini Koppolu.

The custom-made furniture e-tailer currently operates its own manufacturing unit and delivery centre in Hyderabad, but intends to launch services in Bengaluru and Chennai next month.

“Our aim is to remove the constraints of catalogue-based model of selling and replace it with an interactive approach.” said Madhukar.

According to Srini Koppolu, the innovative designing tool helps users design their furniture, have a look of the final product, get delivery and installation in a short span. “The entire shopping experience being convenient, hassle-free and personalised, we believe, it will soon become the most preferred furniture e-tailer in the coming years,” he said.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by ENS Economic Bureau / March 05th, 2015

‘Free to Dial’ service launched

Arts, Culture & Entertainment, Business & Economy

Callers can now get local information by giving a missed call to the new service, “Free to Dial”, which was launched in the city on Thursday by Deputy Chief Minister Mohd. Mohammed Ali.

He said the service providers had promised to source accurate information on products and services to pass on to people seeking information. S. Sunil Kumar Singh and S.J. Basha, the promoters of the service, said that people need to dial 040–6644 4466 any time.

The call is disconnected immediately and the executives will call back with an enquiry and present the information needed. The service is available round-the-clock.

The service currently offers information in 60 categories and 3,000 sub-categories and it will be further expanded in the next few months. The service will be expanded to Vijayawada, Visakhapatnam and Bangalore in the next six months.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Special Correspondent / Hyderabad – February 27th, 2015

3-day Millet Fest in City from February 27

Agriculture, Arts, Culture & Entertainment, Business & Economy, Nature

Hyderabad :

The Directorate of Agriculture and Home Science College of Professor Jayashankar Telangana State Agriculture University (PJTSAU) is organising a Millet Fest-2015 from February 27 to March 1 at People’s Plaza here.

“To popularise the cultivation of millets, production of millet-based products and to popularise consumption of foods prepared with millets among public, the Millet Fest is being held,” commissioner and director of agriculture GD Priyadarsini told reporters here on Tuesday. Millets are not only easy to cultivate when compared to other crops but are also very nutritious. As people are becoming more health conscious, millet-based foods will be a perfect option for them. The fest would create awareness among visitors about various millet-based foods available now, she said.

This is the fourth edition of the Millet Fest. Various millet based foods like multigrain atta, ragi malt, jowar flour, jowar noodles, jowar pasta, ragi vermicelli, cookies, extruded snacks among others will be made available in about 50 stalls. All these products are designed by the scientists at incubation centre of PJTSAU and manufactured and marketed by entrepreneurs.

About 50 entrepreneurs dealing in millet- based food products from all over the state would participate in the fest. PJTSAU will conduct awareness sessions for farmers on millets cultivation and value added products during the fest.

A food court also will be set up at the fest dishing out delicious recipes made from millets like jowar rotis, ragi sankati, jowar upma, jowar noodles, among others. V Praveen Rao, special officer of PJTSAU, D Raji Reddy, director of research PJTSAU, Anurag Chaturvedi, Dean of Home Sciences College, were present at the press conference.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service / February 25th, 2015