Avanse Financial Services’ half-yearly results resonate with the growing demand among students to access quality education

Education financing plays a key role in enabling students to fulfil their academic aspirations

Avanse Financial Services, India’s new age, technologically advanced education-focused NBFC, announced that at the end of H1 FY23, its AUM stands at ~₹7,191 Cr. The total loan disbursement during this phase is ~₹3,369 Cr.; achieved a 3x growth over H1 FY22. This growth is a result of the pent-up demand among students who are passionately chasing their academic aspirations, some of which were affected by the pandemic. The rise in overall demand to access quality education has also positively impacted the growth of the education financing sector. As a student-centric organisation, Avanse has fulfilled the educational dreams of ~3 lacs academic aspirants so far. The net worth of the company is ~₹1,474 Cr. Avanse has achieved 1.7x and 2.2x growth in its revenue and Profit After Tax (PAT), respectively, which currently are ~₹411 Cr. and ~₹70 Cr.

After two years of pandemic-disrupted campuses and flights, 2022 has witnessed a resurgence in students heading abroad. To gear up to fulfil their educational dreams, Avanse Financial Services has been focused on integrating technology and innovating for a greater future. It has been on a mission to bridge the gap between deserving students and their chance to access quality education by making education financing seamless and strengthening the education ecosystem of the country. To offer a seamless education financing journey, the organisation raised ~₹390 crores from its existing shareholders, Warburg Pincus, through its affiliate Olive Vine Investment Ltd. and International Finance Corporation via a rights issue. This capital enables Avanse Financial Services to reach out to more students to fulfil their academic dreams.

Amit Gainda, Managing Director & CEO, Avanse Financial Services said, “The past couple of years had been a period of intense action, reflection and a lot of retrospection. The entire world accelerated its power of innovation – improvised to cope with the challenges and made transformation a way of life to remain on the growth trajectory. As a student-centric organisation, we will continue to eliminate the gap between a student’s academic aspiration and the holistic expenses involved so that they can walk on the path leading to upward mobility without depending on anyone.”

He further added, “Our deep domain expertise enabled us to identify the increasing demand among students to study overseas as soon as the dust of ambiguity created by the pandemic settled. Being an education-focused organisation, we have implemented every possible means to prepare ourselves to cater to this requirement on time. Our performance and the overall sectoral growth echo the rising desire of students to pursue higher education. We will continue to remain steadfast in our purpose of democratising education and education financing in India.”

Avanse Financial Services has been certified as a Great Place To Work® for the second consecutive year. It has won ‘Excellence in Loans” by The Economic Times, Lentra & PWC, recognised as “Most Preferred Education Institution Financing NBFC in India” by Elets, received “Excellence in Education Financing (NBFC)” award from Radio City and more.

Avanse Financial Services has fulfilled the educational dreams of ~3 lacs academic aspirants across 3,000+ institutes and 25,000+ courses in 50+ countries. The firm has also provided growth and working capital to ~1.2K educational institutes catering to over ~5-6 lacs students.

Diabetes Capital of the World: From reactive to preventive – The need for a shift in the healthcare dynamics of India

Diabetes, which is commonly known as ‘the sugar disease, is a condition that impacts the way our body produces or utilizes insulin hormone. The insulin hormone works like a fuel to the body as it converts food into energy. Any kind of abnormality in the amount of insulin eventually results in increased blood sugar levels and can lead to serious health consequences such as heart disease, stroke, kidney failure, blindness, etc. Diabetes is a chronic and serious health condition that works as a catalyst for developing other health issues. Diabetes is termed as the ‘silent killer since it often goes undetected until it has caused serious health problems.

 

Unfortunately, India is considered the Diabetic Capital of the world. The diabetic population in India is predicted to reach more than 80 million by the year 2030. The rising number of patients having diabetes mellitus in India is a significant cause for worry, especially since it contributes to the huge healthcare burden on the country.  With a staggering figure of more than 1 billion patients suffering from diabetes, the risk of mortality almost doubles. People with diagnosed diabetes, on average, have medical expenses almost two and a half times higher than what would be in the absence of diabetes.

 

According to Dr. Vivek Patel, HOD – Deptt of Endocrinology, Marengo CIMS Hospital,’’ With the theme of ‘Access to Diabetes Care’ on this year’s World Diabetes Day, healthcare providers need to aim towards accessibility and affordability of diabetes care. India needs to go through a mindset shift from curative to promotive and preventive healthcare that can eventually reduce the huge individual out-of-pocket expenditure that goes into the treatment. To really take a step forward towards achieving Universal Health Coverage by 2030, India needs to put forward continuous efforts in terms of raising awareness and bringing in rapidly growing technologies for managing and monitoring any disease, especially chronic diseases like Diabetes.

 

People need to understand that although COVID is not at its peak now, ignoring, or missing vaccinations can lead to the development of other comorbidities. Especially people become vulnerable to several health conditions as they age. Approved and authorized COVID-19 vaccines such as Sputnik V, Covidshield or Covaxin are safe and effective. Although the Government has not mandated the booster shots yet, people should realize the necessity of vaccines and voluntarily come forward for administering the booster shots so that India can reduce the disease burden in the long run.

 

The study, titled ‘Variation in health system performance for managing diabetes among states in India: a cross-sectional study of individuals aged 15 to 49 years, and conducted by the Public Health Foundation of India (PHFI), the Madras Diabetes Research Foundation (MDRF), Chennai, and the Harvard School of Public Health with other international organizations, shows, about one in every two Indians (47%) living with diabetes is unaware of their condition, and unfortunately only about 24% people manage to bring it under control.

 

Diabetes is a condition that cannot be cured, but with consistent management and monitoring, it can be controlled. In today’s time, with the blessings of evolving digital health technology, there has been a fundamental shift in the way people manage their health and access medical care. With the rise of wearable technologies, medical devices are now becoming even more convenient and affordable, helping countries to move a step closer to equitable access to healthcare. To improve the quality of care for the end-users, these devices are getting better by helping to monitor a patient’s health 24/7, fetching and storing the clinical records of the patients, and providing real-and time feedback to doctors. Talking about lifestyle diseases, diabetes is one such key area where India has recently been witnessing advancement in remote care, thanks to the booming MedTech industry in India for continuously researching and manufacturing these devices which are optimal for self-management.

 

With more of public-private partnerships and collaborative efforts, Diabetes management can be made accessible, affordable, and seamless. Every stakeholder in the healthcare ecosystem of India – healthcare leaders, physicians, academia, and public health experts should continuously reiterate the importance of regular health screening, choosing a conscious lifestyle by leveraging the privilege of evolving technologies and smart devices that makes the monitoring and management of any disease easier and even can save many lives by indicating certain alarming symptoms in advance.

Top 5 Commercial-Retail Projects in NCR

The commercial and retail realty industry in Delhi-NCR is ripe with immense potential. The prime locations in Delhi-NCR, such as Gurugram-New Gurugram, Noida-Greater Noida, and Faridabad, are seeing the development of several landmark projects emerging as commercial and retail destinations. Listed below are the top 5 commercial-retail projects in NCR where you can indulge in some retail therapy amid spectacular surroundings.
 

Iris Broadway mall in sector 85 & 86, Gurugram

 

1. Iris Broadway, Gurugram – Iris Broadway, Gurugram, is an eclectic mix of retail, entertainment & hospitality, located at the epicentre of New Gurugram in sector 85 & 86. Spread across 2.8 acres, the centre is 100% leased. There are 5 anchors besides brands from F&B, Digital & durables, apparel, retail & entertainment, and more. Some of the prominent brands are, such as Max Fashion, Reliance Smart, Croma, Mr. DIY, Apple, Samsung, INOX, Fabindia, Starbucks, KFC, Pizza Hut, Haldiram's, McDonald, Chaayos, Social, Studio XO, Beer Cafe, Wow! Momo, BBQ, Domino's, Theobroma, Babyhug, Rowan Toys, HUFT, HDFC Bank, Firefox, Jockey, Looks, Pepperfry and One Bharat. Amidst an established and aspirational eco-system of more than 3,00,000 people residing in the catchment, it is the only mall in the area with 1000 ft. frontage and over 200 surface and 400 multi-level vehicles parking facilities. It also has EV charging points. In addition to retail, the establishment has a hotel built to mark world-class hospitality. It has 79 Keys Hotel Suites with a banquet space of 4500 sq. ft., separate entry & exit, a Gym/Spa, and a swimming pool on the terrace. The average footfall is over 1 lakh every week.
 

2. Athena – Athena is an ambitious retail and commercial project. Located in sec-16, Gurugram, and off NH-8, the project has a leasable area of 1.5 million square feet. Spread over 12.206 acres, Athena is envisioned to be a preferred premium business destination and will be a confluence of International and National Brands. Athena is designed by the prestigious queen’s award-winning architect Chapman & Taylor from London, UK. The project is aesthetically designed in a modern and dynamic detailing intended to give visitors an exciting shopping experience. A lot of research & experience has been put into developing a relevant category mix and thought after zoning. The commercial office space of Athena compromises a beautiful iconic tower with 21 floors and an extensive retail spread across 5 floors.
 

3. M3M Capitalwalk – M3M Capitalwalk, a retail offering by M3M is located in sector 113, Gurugram, right on the 150-meter-wide Dwarka Expressway. The M3M Capitalwalk is the only project in the entire NCR with a frontage of more than a kilometer. The five floors M3M Capitalwalk will have 1047 units of different sizes, ranging from 100 to 3000 square feet, and fourteen entry points for easy access. The Company has kept ample space on the top floor for the food court. Keeping in view the multi-utility aspect, the shops' heights have been kept from 4.75 to 6.75 meters. M3M is looking for a top line of Rs. 2000 crore from ‘M3M Capitalwalk’.
 

4. World Street – Located in sector 79 Faridabad, World Street by Omaxe is one of India’s iconic new-aged internationally local projects modeled after world-famous shopping streets in London, Athens, Amsterdam, Portugal, and Hong Kong. With its unique blend of retail, entertainment, and hospitality services, World Street is emerging as one of the most popular shopping, dining, and street-walking destinations in Delhi-NCR. The innovatively crafted beautiful grandeur, paired with high-end retail outlets and flagship stores from around the world, the iconic retail project is emerging as the most sought-after shopping destination for brand-conscious shoppers. This new-age project also includes commercial office spaces, gaming zones, food courts, and a 10-screen multiplex, as well as an adventure zone for visitors becoming a tourist spot as well. Being a one-stop complete package of curated experiences, World Street is poised to transform Faridabad's luxury landscape by bringing together premium retail and luxury brands and an edgy high-street ambiance.
 

5. Paras One33, Sector 133 Noida – As the newest retail hotspot in Noida, Paras One33 located at sector 133, offers a myriad of entertainment and indulgent opportunities for visitors of all age groups and preferences. While family eateries and multi-purpose franchises like Haldirams, Pizza Hut, Barbeque Nation, Gopala, Barista, and Reliance Smart and Lenskart sprawled across its undulating food street called, “Chatori Gali”, make Paras One33 the first choice for family outings. Fashion and lifestyle stores like Reliance Trends make it a magnet for shoppers looking for the newest and most affordable apparel designs. Additionally, hospitality, cosmetic, fitness, and wellness brands like Javed Habib, Apna Chemist, and Ginger Hotels imbue a holistic ambience to this Paras Buildtech project. Within the vicinity of the project, are a dedicated kids' play zone and a rustic flea market, which give visitors a penchant to explore the perfect excuse to find their way to this wonderful attraction. Fully equipped to cater to all the needs of its diverse patrons, Paras One33 has all the ingredients to become the most popular crowd-puller in Noida. 

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(Disclaimer: The above press release comes to you under an arrangement with NewsVoir India and this publication takes no editorial responsibility for the same)

Harappa & Lightbulb.Ai come together for a unique Content Insights Emotion AI Study

As higher education and corporate training shifts predominantly online, Harappa & Lightbulb.Ai highlight the importance of creating online-specific content for better learning outcomes & the critical role of Emotion Ai in identifying these optimisation insights!

MUMBAI, India, Nov. 14, 2022 /PRNewswire/ — Lightbulb.ai, a multimodal Emotion AI platform, in partnership with Harappa, a leading ed-tech player in workplace skills and corporate learning, today released their Independent Educational Content Insights study which highlighted the importance of using non-stated feedback via Emotion AI content testing to unearth content creation insights for better digital learning outcomes.

About the Study

The aim of the Emotion Ai Content Study was to identify the strong and weak areas of different types of educational content by exposing them to a test audience and assess their behavioural feedback captured using the computer-vision led Emotion AI services of the Lightbulb platform.

The format of the study was to test three separate educational creatives developed using different content formats and to understand if one creative resonates with the target audience more versus the others as well as to assess the high and low areas of engagement & emotion. The study was conducted in three rounds with a statistically significant sample of respondents belonging to the identified target segment for Harappa. Each set of respondents was administered a different study at a given point in time and the Creative-Tester combination was changed for subsequent rounds of testing, to ensure further randomization of the trial.

For the Content Study, three different creative formats were tested with a pre-defined target segment that was relevant for Harappa:

  • Creative 1 on Driving Goals > A ~95% human presenter based creative with few infographic screens with background narration and 30 sec reflection period
  • Creative 2 on the Fundamentals of Communication: A creative using multimodal content delivery using videos, infographics, human presenter & multiple narrators
  • Creative 3 on Creating an Elevator Pitch: A ~100 human presenter based creative with the presenter mostly occupying close-up centre stage position with narration

The Study was designed to capture both implicit (behavioral reactions to the creative using Computer Vision) and explicit (post content exposure survey questionnaire) feedback.

Some Key Insights from the Study

Some very interesting insights pertaining to the composition, layout and conceptualization of educational content creatives emerged from the Study Results, some of which are as below:

The presence of a single, recognizable human presenter throughout the video leads to much greater engagement as compared to just graphics, text and other audio visual material

Background narration, a popular content strategy, actually has a declining effect on engagement, whereas using graphics along with an on-screen narrator works better

The recap of concepts via a spot quiz or survey immediately after dispersal ensures the retention of key information

 

Post the Study, the results were analysed using a combination of implicit behavioral feedback as well the explicit stated responses from the respondents and it was found that the 'Elevator Pitch' creative ranked First while the 'Drive Your Goals' creative ranked a close second and the 'Fundamentals of Communication' creative ranked third. The creatives were ranked on the basis four parameters: Viewing Engagement, Likeability of Content, Understanding Concepts & Further Recommendation (to other users).

While the 'Drive Your Goals' creative witnessed the highest viewing engagement of 89%, the 'Elevator Pitch' creative had the maximum overall scores combined for viewing engagement, likeability, concept understanding and recommendation. Accordingly, a model template for content creation has arrived at the basis of the study which can henceforth be used by Harappa to ensure maximum engagement for the pre-recorded education content relayed to their online learners. 

Some insightful quotes on the future of Online Learning & Emotion Ai

“While more and more ed-tech players are providing students with online learning avenues, to be truly effective, it is critical for online learning businesses to build a strong content feedback loop by recognising emotion & engagement cues given by users, which are typically also given during face-to-face interactions. This helps content creators to consistently make iterative improvements to the content design principles to create truly effective educational content. We feel that harnessing the growing potential of Emotion AI is one way to monitor and enhance the learning process. At Harappa, we are cognizant of creating content that best suits the online medium and invest deeply in research and content creation to better learning outcomes and were happy to partner with Lightbulb.Ai for this initiative,” said, Shreyasi Singh, Founder & CEO, Harappa.

“Emotion AI technology harnesses the power of machine learning and Ai to seamlessly measure the attention spans and emotions of individuals during live or asynchronous interactions. And such real-time insights and analysis empowers brands and ed-tech platforms to optimize their content for maximum learning impact and outcomes. We were deeply enthused by Harappa's progressive attitude and thought process and were delighted to partner with them for this study,” said, Ritu Srivastava, Co-Founder and CEO, Lightbulb.ai.

“Creating the right kind of content to generate maximum engagement is imperative for organizations to deliver high quality enterprise training initiatives. Catering to dispersed or remote teams with digital learning initiatives poses many challenges for businesses and RoI on the training initiatives is a must. Emotion Ai is one way to comprehensively assess high-quality learning partners!” said, Ravi Shankar, former CHRO Mindtree & HCL, Advisor, Lightbulb.Ai

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)

BYD India Announces the Price of BYD-ATTO 3

       India’s First Sporty Born E-SUV is now available at INR 33.99 Lakhs (All India, Ex-showroom)

      Overwhelming customer response to the BYD-ATTO 3 as it obtains close to1500 Nos of bookings

 

BYD-ATTO 3.jpg


The world’s leading new energy vehicle manufacturer BYD announced the price of India’s First Sporty Born E-SUV, BYD-ATTO 3, available at INR 33.99 Lakhs (All India, Ex-showroom).  BYD-ATTO 3 has received an electrifying response from customers and is close to the 1,500 mark since booking began on October 11. BYD-ATTO 3 is available in 4 colors: Boulder Grey, Parkour Red, Ski White, and Surf Blue.

 

Equipped with the ultra-safe Blade Battery and the born EV platform (e-Platform 3.0), BYD-ATTO 3 features fast charging from 0% to 80% in 50 mins, a range of 521km according to ARAI tests with a higher battery capacity of 60.48kWh, and a 0-100km/h acceleration time of 7.3s. With a sporty, powerful exterior and rhythmic interior, BYD-ATTO 3 also features the L2 Advanced Driving Assistance System (ADAS) BYD Dipilot, 7 airbags, a panoramic sunroof, a 12.8-inch (32.5cm) adaptive rotating Screen, 360° holographic transparent imaging system, NFC card key, and a Vehicle to Load (VTOL) mobile power station, making this car an extremely competitive EV offering. BYD-ATTO 3 also boasts features such as mobile phone wireless charging, a one-touch electric control tailgate, an 8-speaker audio system, electric seat adjustment, voice control, LED headlamps, LED rear lights, multi-color gradient ambient lighting that responds to music rhythm, PM 2.5 air filter, CN95 air filter, etc.

 

BYD-ATTO 3 offers a 7kW home charger and its installation service, a 3kW portable charging box, a 3-year free 4G Data subscription, 6-year roadside assistance, and 6 free maintenance service. Besides, BYD-ATTO 3 offers a warranty of 8 years or 1.6 Lakhs kilometers (whichever is earlier) for the traction battery, 8 years or 1.5 Lakhs kilometers (whichever is earlier) for the motor & the motor controller, 6 years or 1.5 Lakhs kilometers for the vehicle, and warranty details of other components. Details of the warranty can be found at bydautoindia.com.

 

BYD-ATTO 3 is on display at every BYD India dealership showroom & Customers can now book the vehicle at any authorized BYD India dealership. Local dealership location

details can be found on the BYD Auto India web portal www.bydautoindia.com. The first batch of deliveries of the BYD-ATTO 3 will begin in January 2023.

 

 

Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicles of BYD India, said, “We are delighted at the overwhelming response from our customers and thank them for joining the EV journey towards a sustainable future. We are happy to announce the price of our much-acclaimed electric SUV BYD-ATTO 3 in India at INR 33.99 Lakhs (All India – ex-showroom). We are eager to introduce BYD-ATTO 3 to the world and plan to expand its availability in the future.”

 

BYD is planning to open 24 showrooms across 21 cities in India by the end of this year and aims to expand to at least 53 showrooms by the end of 2023. BYD India plans to participate in the Auto Expo 2023 and will debut more products and technologies for the Indian market. BYD will continue to leverage technological innovations for a better life, promote sustainable development of society, and implement its “Cool the Earth by 1°C” initiative.

 

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Arkhangelsk Conference Addresses Development of Digital Technologies and Human Resources in the Arctic

Participants in the conference ‘National Megaproject in the Arctic: Staffing and Scientific Support’ discussed the creation of a digital environment in the Arctic, how to modernize educational programmes, and the needs of the Arctic regions for staffing. The event took place on 10-11 November in Arkhangelsk at Northern (Arctic) Federal University named after M.V. Lomonosov (NArFU) with the support of the Russian Ministry of Education and Science as part of the plan of events for Russia’s chairmanship of the Arctic Council in 2021-2023, which are being organized by the Roscongress Foundation.

 

National megaproject in the arctic: staffing and scientific support


Ensuring the sustainable socioeconomic development of the Arctic is one of the key focuses of Russian policy. As part of the work to this end, the Arctic today is becoming a sort of laboratory for testing promising technologies and smart solutions. In turn, this requires the existence of the appropriate digital environment, which implies the widespread introduction of automation, robotic technologies, artificial intelligence, machine learning, and work with big data. These concepts are becoming integral components for developing activities in a wide range of areas from education to the development of urban infrastructure,” said Nikolay Korchunov, Ambassador-at-Large of the Russian Ministry of Foreign Affairs and Chair of the Arctic Senior Officials.


Deputy Minister for the Development of the Russian Far East and the Arctic Anatoly Bobrakov noted that in the current environment the Arctic as a whole and the Northern Sea Route in particular offer a fundamental opportunity to ensure the growth of the Russian economy and the social development of the entire country. In terms of personnel, the Russian North most of all needs engineers and IT specialists, he said.


Today, more than 530 projects are being implemented under preferential conditions in advanced special economic zones in the Arctic Zone of the Russian Federation. Total private investment amounts to more than RUB 1 trillion. More than 28,000 jobs will be created, including at least 6,000 high-performance jobs. These are precisely the jobs that require people who are number-savvy. These are people who must have a level of education that enables them to work with high-tech equipment and deal with engineering and programming. I believe the Arctic is the best place to become an engineer or a programmer,” Bobrakov said.


Deputy Minister of Science and Higher Education Andrey Omelchuk said personnel for the Arctic should above all be trained in the North: people who train in the harsh Arctic environment better understand the problems of Russia’s Arctic zone. However, the staffing needs of the Russian Arctic extend way beyond the capabilities of Arctic universities. In this context, it is paramount to consolidate research groups that deal with the development of the Russian Arctic zone, he said.


In the near future, together with the Rosatom Corporation, we will discuss ways to fund and consolidate Arctic science. We believe it is essential to unite researchers who work on the Arctic within a single framework,” Omelchuk said.


The Far East and the Arctic Development Corporation (FEADC) is analysing and forecasting the staffing needs of Russia’s Arctic regions. FEADC First Deputy General Director for Social Development Elvira Nurgaliyeva said the Arctic zone’s staffing can be divided into three areas: working professions, special new and rare professions, as well as managerial personnel. At the same time, sociological surveys of residents of the Arctic regions show that people do not simply want a job, but an opportunity for self-fulfilment.


The Arctic Zone of the Russian Federation is the world’s largest special tax regime and special development zone. It’s a unique territory in terms of opportunities for business development. Companies that have not yet signed an investment agreement, but see the promise of working in the Arctic over the period until 2035, require 180,000 new jobs. This is a special challenge for the Arctic,” Nurgaliyeva said.


The FEADC, along with the Ministry for the Development of the Russian Far East and the Arctic and the Ministry of Higher Education and Science, is working on adapting educational programmes based on the forecasts of companies’ further staffing demands, she said.


During the conference, the participants learned about the Digital Arctic IT Park that is being set up at NArFU. NArFU Rector Yelena Kudryashova said the technological solutions that will be developed at the IT park will become a cornerstone of domestic software products and developments. The IT park is being built to create an interregional IT ecosystem in the Arctic in order to provide the local population with digital expertise, train personnel, and implement digital economy projects to ensure Russia’s technological sovereignty. At present, the IT park already includes seven laboratories for robotics and automation, eight laboratories for networks, cybersecurity, web development, and machine learning, as well as rooms for coworking and project work. The park is being created jointly by NArFU and the Arkhangelsk Region Government.


The conference programme also included thematic sections and roundtables on various aspects of the development of the Arctic and digital technologies in the Far North. In particular, experts discussed information security in the digital economy, the customization of personnel training for the Arctic region, the monitoring of the labour market, as well as the transformation of urban spaces and robotics. The conference participants viewed an exhibition dedicated to digital technologies for the development of the Northern Sea Route. The Rostec State Corporation and AFK Sistema also presented their developments. The conference was attended by representatives of federal and regional agencies, CEOs of IT companies and several specialized organizations, as well as leading experts and representatives of the scientific community.


The programme also featured cybersport and information security competitions, as well as the Sports Programming and Activity Championship for schoolchildren. Master class participants learned the basics of cryptography and the Internet of Things, how to use neural networks, how to develop mobile applications, and control a quadrocopter.


A priority of Russia’s chairmanship of the Arctic Council is to ensure responsible governance for the sustainable development of the Arctic, which is largely determined by the quality of human capital. By developing measures to support the population of the North, including Indigenous peoples, Russia is helping to promote projects and initiatives to digitalize remote Arctic villages and reindeer herding farms by improving the reliability and efficiency of satellite navigation systems in the Arctic.

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(Disclaimer: The above press release comes to you under an arrangement with NewsVoir India and this publication takes no editorial responsibility for the same)

Bag2Bag relaunches its website with a plethora of new experiences

BANGALORE, India, Nov. 14, 2022 /PRNewswire/ — Travel tech startup Bag2Bag relaunched their website on 2nd November 2022 with a plethora of services targeting specific accommodation requirements of customers. This event occurred at the company's office located in Bengaluru and was graced by the presence of media dignitaries, social media influencers, Industry experts and company employees.

Bag-2-Bag-Logo

Incorporated in August 2019, the company is now providing its services in more than 100 cities with over 4000 properties across all over this incredible India. The company initially targeted short stays with its pay per use model helping users to book hotels online on an hourly basis serving as a boon for frequent business travelers, medical travelers, layovers or transit, students travelers, couples and many more as these individuals are getting their needs served without a pinch on their pockets. Now the company is diversifying with the commencement of extended stays focusing largely on homestays, service apartments, and hostels crafting memorable experiences. Keeping evolving longer stays requirements of users in mind, the new website displays negotiated prices on a weekly stay and monthly stay which are heavily discounted from the daily prices.

With the relaunch of this website, the company is actively working towards first in market concept of adding f&b choices with stay in its websites that will permit the customers to view the food and beverage menu of their chosen hotel to select the delicacies they wish to indulge in upon their arrival. This add-on is currently available for only a few properties but will soon be available for more locations and accommodations. The website aims to allow its users to explore the fun activities, adventure spots, local foods, and so on near them as well as book their stay based on nearby activities that they wish to enjoy in the near future to make family tours hassle-free and delightful. The company is working hard to bring out the true hospitality experience for users via its web and mobile applications. The experience section on the website will be dedicated for the same.

The company received seed investment in December 2021 and has been making remarkable progress ever since. The company founder and CEO Alok Mishra have shared his thoughts on the way ahead, “We have observed remarkable growth in our short stay segment targeting pay by hour bookings, and the extended stay segment which has now evolved with recent additions of hotels, homestays and many more. In the near future, we want to focus on building experiences for our users, especially via homestays in tourist hotspots, unexplored hidden gems of India in tier 2 and tier 3 cities. This will create a symbiotic relationship providing an earthy rural experience for curious travelers wishing to escape the hustle and bustle of city life while generating a lucrative source of income for homestay owners.” 

The ability of the tourism and hospitality industry to bounce back from the brutal attack of the pandemic has been impressive with India enjoying significant growth in revenue per room on a YoY basis in the year 2022. There has also been an increase in hotel signings compared to the previous year's primarily due to surge in demand. Studies shows that online travel booking will increase at a CAGR of more than 10% in the next 4-5 years. Alternative accommodations are already forecasted to be one of the primary growing segment and Bag2Bag is ready to set its foot forward by providing services to all such niche segments.

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)

In a first, 13000+ CREDAI developers start a new sustainable realty movement, pledge carbon neutrality by 2050

·         HDFC Capital & CREDAI announce investment in Tier- 2 & Tier -3 Future Cities through its U$ 3 billion fund  

  • CREDAI & Venture Catalyst & NeoVon to partner on a $100mn proptech fund – ‘Spyre VC Proptech Fund’ for tech-enabled startups in the RE sector.

 

Accelerating its commitment to UN’s Sustainable Development Goals (SDG) 2030, CREDAI today announced that its 13000+ member developers have taken a pledge to become 100% carbon neutral by 2050. 

 

With this pledge, CREDAI has become the industry’s first association to facilitate an ecosystem and lay a strong foundation for a sustainable reality in India. Furthermore, CREDAI also announced a slew of measures including a collaboration with HDFC to empower Tier-2 & 3 cities with a US $ 3 billion fund, and a $100 million fund for emerging start-ups with Venture Catalyst and NeoVon. All these major developments were announced at its annual event NATCON 2022 held at YAS Island Abu Dhabi which was attended by 1300 plus developers. The event was inaugurated by H.E. Sheikh Nahayan Mabarak Al Nahayan, Cabinet Member, Minister of Tolerance and Coexistence.

 

With a keen eye on the world's future, especially India, CREDAI pledged to explore the best practices available to reduce the sector's carbon footprint by 25% before 2030 and be carbon neutral by 2050. As India pledges to become a low-carbon economy, the real estate industry can partner with the Government in extending its commitment significantly. Even though the Indian Green Building Council (IGBC) has implemented measures to promote more developers to use sustainable techniques, CREDAI will work with the policy implementation body to ensure the measures are well ingrained with the real estate developers in the country. 

 

Commenting on the major development, Mr. Harsh Vardhan Patodia, President, CREDAI, said, “We believe that our role as nation builders is to also contribute to people and planet alike. When the entire world is waking up to the need for Green Real Estate, as an industry leader, we need to walk the talk by evaluating and exploring newer ways to reduce, and reuse waste through recycling. We are partnering with some of the best minds from the start-up industry to enable this initiative. We will set up an education exercise for all our member developers so that they jump onto the sustainable realty bandwagon and help us in building a better tomorrow for future generations.” 

 

Technology today is changing every walk of our lives and to be a part of this change CREDAI is partnering with India’s first and largest integrated incubator and accelerator for startups – Venture Catalysts & NeoVon – to set up a $100mn fund – ‘Spyre VC Proptech Fund’. The fund shall invest $100mn in the next couple of years across early and growth stage start-ups.

 

Additionally, to be able to accelerate the adoption of technology, CREDAI will launch ‘Credaiverse’ to have a permanent presence in Metaverse for an immersive buying consumer experience. 

 

Mr. Boman Irani, President-Elect, CREDAI, said, “India is a start-up hub, and a lot of new-age start-ups are finding solutions to real-world problems more swiftly and effectively. Our Sphyre VC fund will bring together a lot of young leaders who will help us in bringing Sustainable Realty to life.” 

 

Mr. Satish Magar, Chairman, CREDAI, said, “This year, the Real-estate ecosystem has witnessed the best year in decades at the back of pent-up demand post-COVID-19 and consumer sentiment continues to be positive. We are confident that with multiple planned launches and a shift in consumer behavior from HomeRenting to HomeBuying, the growth momentum will continue.

 

Dr. Apoorva Ranjan Sharma, MD & Co-founder, VCATs said, “The rapid advancements of the digital age present a plethora of opportunities that were unfathomable a decade ago. Emerging technologies are continually transforming businesses, and the Indian real Estate Industry is no stranger to these developments. New startups have populated the ecosystem, offering a wide range of products and services intent on enhancing consumer experiences, while significantly affecting improvements in businesses. Our partnership with CREDAI brings along an opportunity to tap into the real estate industry and provides us the chance to help emerging tech-driven businesses through the Spyre Proptech Venture Fund, leveraging a vast network of entrepreneurs, led by our team of experienced founders.”

 

Venture is India’s first integrated incubator. It invests $250K – $1.5 Million in early-stage startups that have potential to create enduring value for over a long period of time. Venture Catalysts brings a lethal combination of Capital, Mentoring and Business Network to help investee companies to succeed. Their innovation provides value to startups through its extensive angel network, funding, community, services and co-working facility.

Apna.co Records 50 Million Professional Networking Conversations in the Last 90 Days

  • The platform enables professional networking among the rising workforce through several algorithms and technology tools

 

While professional networking was always restricted to the white-collar job market, it has now become a mainstream activity for the rising workforce to grow in their careers. Apna.co – India's leading jobs and professional networking platform, witnessed a sizable rise in professional networking among the rising workforce and such conversations touched a whopping 50 million in Quarter 3, 2022 (July, August, and September), on its platform.

 

In October this year, around 14 million professional connections were made on the platform. We also recorded 13 million plus professional conversations during the last month. Apna also recorded a feed traffic of around 2 million in the past month.

 

The platform supported above 5 million community users in the previous quarter (Q2). 

 

Out of 26 million users on Apna.co, 80 percent have been utilising Apna’s professional networking. 40 per cent of these users are from Tier II and beyond. Cities such as Delhi, Mumbai, Bengaluru, Hyderabad, Pune, Kolkata and Lucknow saw a surge in users building their professional networks and engaging with their peers. It is also noteworthy that around 40 per cent of creators on the platform prefer languages other than English. In fact, Hindi, Kannada, Telugu and Bengali were the most preferred languages on Apna’s platform apart from English.

 

Women are also unlocking their potential through professional networking. According to Apna.co’s recent data shows that at the beginning of November, more than 5 lakh women are using Apna’s platform to create professional content. Every 1 in 5 posts is in fact created by women on the platform. Maximum networking by women has taken place in cities such as Delhi, Mumbai, Bengaluru, Hyderabad, Pune and Kolkata.

 

Apna facilitates professional networking through various advanced tech algorithms and tools, which in turn, has enabled an extensive and diverse discovery of professionals working in similar fields. Post-COVID, community engagement has emerged more prominently as a significant communication channel, as it allows people to share their opinions and views on a common platform. It has helped people in standing together for each other, while being a part of a larger group, thereby fostering a sense of belonging and oneness.

 

Speaking on how networking and fostering professional relationships has become so crucial in today’s world, Mr. Karthik Manivannan, COO, Communities at Apna.co, commented, “Today's workforce strongly advocates professional networking to grow in their career journeys, upskill themselves and learn from their peers in the industry and Apna’s recent data is a testimony to this. We are highly encouraged seeing the recent numbers and will continue building and evolving our platform for the workforce to support our users in their careers.”

 

In order to provide its users with more chances for hyperlocal employment, Apna is currently trying to expand even further into the country in the upcoming months. With more than 26 million users and 300,000+ employer partners, the platform is accessible in 70+ Indian cities.

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(Disclaimer: The above press release comes to you under an arrangement with NewsVoir India and this publication takes no editorial responsibility for the same)

India can cut emissions from its buildings to half by 2050 to meet net-zero target

With India's ambitious COP27 climate goals, new report proposes solutions and cross-cutting collaborative solutions to transform the buildings sector

NEW DELHI, Nov. 11, 2022 /PRNewswire/ — In the lead up to the 27th Annual UN climate talks — COP27 — NIUA (National Institute of Urban Affairs) and RMI (Rocky Mountain Institute) have released a new report, From the Ground Up, that provides a novel whole-system approach to reduce energy and emissions from India's built environment.

Emissions from buildings are projected to multiply four times by 2050. By implementing a whole-system approach, the emissions intensity of building operations could be reduced by 45% by 2030. The total buildings emissions could be reduced by 75% by 2050 as opposed to a business-as-usual scenario. This could be accomplished by following a pathway that first reduces energy needs, then serves the needs as efficiently as possible, and finally optimises the demand and provides clean energy supply.

Hitesh Vaidya, Director of NIUA launched the report. “We are standing at a crucial juncture in India's growth stage where urban migration and development are occurring at a rapid pace,” he said. “This gives us an opportunity to build right the first time. I call upon building material manufacturers, building developers, equipment manufacturers, NGOs, and policymakers to come together and collaborate on achieving the ambitious climate targets set by our Honourable Prime Minister.”

The report was developed following a yearlong extensive research and supportive analysis conducted in collaboration with the Lawrence Berkeley National Laboratory. The near-term, high-priority actions outlined can reduce energy consumption while improving thermal comfort and productivity, increasing resilience, and reducing investments in energy supply infrastructure. Earlier this year, NIUA and RMI organised a stakeholder convening to deliberate on the solutions proposed in this report.

Clay Stranger, Managing Director, RMI, said, “Many solutions already exist, and experts across government, academia, and the private sector have been contributing to this critical conversation through efforts on energy codes, buildings ratings, product efficiency, and more. The need of the hour is to integrate these efforts and amplify our impact in order to meet our common environmental, economic, and social goals.”

For more details, please contact media@rmi.org.

CisionView original content:https://www.prnewswire.com/in/news-releases/india-can-cut-emissions-from-its-buildings-to-half-by-2050-to-meet-net-zero-target-301675817.html

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)