Month: October 2024

Funds raised to be directed inter alia towards onward lending, repayment/prepayment of borrowings and general corporate purposes

 

Muthoottu Mini Financiers Limited (Muthoottu Mini Financiers), has announced the launch of public issue of its secured, Non-Convertible Debentures (“NCDs”) with a face value of INR 1000 each. The issue has a base size of INR 100 crore, with an option to retain oversubscription up to ₹50 crore, aggregating up to ₹150 crore.

 

The NCD issue opens on 30 October 2024 and will remain open until November 13, 2024, with an option for early closure, as may be decided by the Board of Directors of our Company or the Debenture Committee, subject to approvals in accordance with the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The NCDs are proposed to be listed on BSE Limited which is also the designated stock exchange for the issue.

 

Muthoottu Mini Financiers’ NCDs will be available with effective annualised interest rates ranging from 8.84% to 10.5% depending on the category and tenor chosen. The tenors offered are 450 days, 26 months, 36 months, and 48 months and 66 months. The funds from the issue will be used for onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company, and for general corporate purposes.

 

NCDs have been rated ‘CARE A- Stable’ by CARE Ratings Limited, reflecting an adequate degree of safety and low credit risk.

 

With its registered office and corporate office in Kochi, Kerala, Muthoottu Mini Financiers offers flexible gold loan schemes that offers to its customers and efficient customer service depending on the individual needs. Its primary product is gold loans, providing a quick and convenient way for individuals to access funds by pledging their gold. In addition to gold loans, Muthoottu Mini also provides various other financial services, including insurance agent services to help customers secure their assets, money transfer services for seamless transactions, and depository participant services. The company also extends microfinance solutions, supporting joint liability group of women entrepreneurs in underserved regions. These products are designed to cater to a broad customer base, especially in rural and semi-urban areas in Kerala.

 

Muthoottu Mini Financiers currently operates through 920 branches across 10 states and union territories of Delhi and Puducherry, in India, serving to 5,62,188 customers as on September. With a workforce of 4,600+ employees, the company continues to expand its presence, particularly in rural and semi-urban areas. In FY24, Muthoottu Mini had a total AUM of INR 3,522.77 crore and recorded a Profit After Tax (PAT) of INR 77.83 crore. The NCDs are rated CARE A- Stable by CARE Ratings, indicating adequate degree of safety regarding timely servicing of financial obligations and low credit risk.

As of March 31, 2024, Muthoottu Mini Financiers reported a total of 5,57,249 gold loan accounts, primarily from rural and semi-urban areas, amounting to INR 3222.21 crore. This represents approximately 91.47% of its total loans and advances. The yield on its gold loan assets for Fiscal 2024 was at 18.12%.

 

Over the past three fiscal years, Muthoottu Mini Financiers has demonstrated steady growth in both its Assets Under Management (AUM) and Profit After Tax (PAT). The AUM increased 41% from ₹2,498.60 crore in FY 2022 to ₹3,523 crore in FY 2024, while PAT grew by 68% from ₹ 46.29 crore to ₹77.83 crore during the same period. This growth reflects robust demand for its financial products, efficient cost management, and strong revenue performance, primarily driven by its core gold loan segment. The company has also maintained a Capital Adequacy Ratio (CAR) consistently above the regulatory requirement, standing at 23.86% as of March 31, 2024, reflecting a stable capital structure. Despite slight variations, the Gross Non-Performing Assets (GNPA) remained at 0.61% in FY 2022, 0.43% in FY 2023, and 0.88% in FY 2024.

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P R E S S  R E L E A S E

 

 

Bank of India, a leading public Sector Bank, is observing Vigilance Awareness Week, from 28th October to 3rd November, 2024. This year, 'Vigilance Awareness Week' is being observed on the theme, ‘सत्यनिष्ठा की संस्कृति से राष्ट्र की समृद्धि’ “Culture of Integrity for Nation's Prosperity”.

 

Shri Rajneesh Karnatak, Managing Director & CEO inaugurated the Vigilance Awareness Week-2024 on 28. 10.2024 by administering the Integrity pledge in Hindi to the executives in the Board Room of the Bank at its Head Office in the presence of Shri P R Rajagopal- Executive Director, Shri Subrat Kumar-Executive Director, Shri Rajiv Mishra – Executive Director and other Senior Executives. Shri Vishnu Kumar Gupta, Chief Vigilance Officer, administered the pledge in English. A booklet on “Case Studies'” and “Vigilance Reference Manual” was also released by the hands of top management.

 

On this occasion, the staff members of the bank, formed a human chain, in the Head Office premises, conveying message of Vigilance Awareness.

 

Bank of India is committed to cherished goals of transparency and accountability for its actions to customers, stakeholders and the society at large. As per the directives of the Central Vigilance Commission (CVC) the Bank will sensitise public about whistleblowing to expose corruption and focus on internal activities during the Vigilance Awareness Week.

 

Bank will also be organising grievance redressal camps for citizens and customers, apart from holding “Awareness Gram Sabhas” for bringing awareness in Gram Panchayats to sensitise citizens on the ill effects of corruption. Till date more than 5000 such Gram Sabhas have been organised by Bank of India.

 

Bank's Vigilance Department along with the field functionaries had organised various

outreach activities like quiz, article writing, Rangoli, and slogan competitions for employees. Various social campaigns too had been rolled out to raise awareness on the issue. To spread awareness and focus on preventive vigilance, Walkathon is organized by Bank of India on 25. 10.2024 at BKC along with Bank of Baroda, Canara Bank, BPCL.LIC and other PSBs/ PSUs where more than 1000 staffs participated.

 

Banners and posters are displayed across different locations to educate both external and internal stakeholders on the significance of the Vigilance Awareness Week.

 

Vigilance Awareness Week is observed every year during the last week of October in which birthday of Sardar Vallabhbhai Patel (31st October) falls. This awareness week campaign affirms Bank's commitment to promotion of integrity and probity in public life through citizen participation.

 

 

This Diwali, Prosperity Wears a New Face

 

 Finolex Pipes and Fittings, India's most trusted pipe brand, has launched an inspiring Diwali short film that redefines prosperity through the lens of women empowerment.

What begins as a plumbing emergency on Diwali transforms into a story of divine intervention and entrepreneurial awakening. When a broken pipe threatens to derail a homemaker's festival preparations, she encounters an unexpected embodiment of Goddess Laxmi – a skilled female plumber who brings more than just technical expertise. Through their interaction, the homemaker discovers a deeper calling, finding the confidence to pursue her hidden talent in apparel design. The plumber's presence, much like Goddess Laxmi's divine grace, catalyses a journey from domestic crisis to entrepreneurial triumph.

The film masterfully draws parallels between traditional divine blessings and modern manifestations of prosperity. Just as Goddess Laxmi brings abundance, this modern-day Laxmi in a toolbelt not only fixes pipes but also unclogs the pathway to self-realization, inspiring the homemaker to establish her own apparel design business.

“Mr. Sumit Bhatia, Vice President, Marketing & Communications, Finolex Pipes & Fittings, expressed, ‘This Diwali, we aimed to create something beyond the usual promotional messages—a short film that resonates with the heart and soul. Through the intertwined stories of two remarkable women, we delve into the timeless values that Diwali embodies: hope, prosperity, and transformation. As their paths intersect in contemporary India, we witness how small acts of kindness can ignite significant change, much like the first diya that lights up an entire room. One woman's journey from struggle to success mirrors the divine grace of Goddess Laxmi, illustrating that true prosperity is about empowering others and uplifting communities. The portrayal of a female plumber in our film is inspired by our dedicated CSR efforts. Through our partnership with Mukul Madhav Foundation, we have consistently supported and trained women plumbers, integrating them into the mainstream plumbing profession. This initiative has been actively encouraged by our Founder, Mr. Prakash P. Chhabria. In this celebration of light over darkness, we are honored to be more than just observers; we are partners in India's ever-unfolding story, connecting dreams, illuminating homes, and uniting hearts across generations.’”

The narrative integrates Finolex's brand values of trust and durability while highlighting a broader social message. By portraying a female plumber as a modern embodiment of Goddess Laxmi, the film challenges stereotypes and celebrates the countless ways prosperity enters our lives.

As families across India illuminate their homes this Diwali, Finolex's film reminds us that true prosperity lies in empowerment, breaking barriers, and building connections that light up lives.

Watch the film here- https://www.youtube.com/watch?v=0piVoEVRKAo

To stay updated, follow us on: https://www.instagram.com/finolexpipesandfittings/ 

Know more about us on – www.finolexpipes.com

Know more about our community service on – www.mmpc.in

UltraTech to pilot new technology aimed at decarbonising cement manufacturing at scale

UltraTech Cement Limited, India’s largest cement and ready-mix concrete (RMC) company, announced the signing of a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California, Los Angeles (UCLA) to pilot a groundbreaking new technology The Zero Carbon Lime (ZeroCAL) developed by ICM that can significantly reduce carbon dioxide emissions from cement production. ICM, in partnership with UltraTech, will build a first-of-a-kind demonstration plant for the technology at one of UltraTech’s integrated cement manufacturing units.

The Zero Carbon Lime (ZeroCAL) process, developed by ICM researchers, can eliminate nearly 98% of carbon dioxide emissions associated with limestone decomposition in cement manufacturing. UltraTech will be the first company globally to implement the ZeroCAL process at scale through a demonstration plant that will produce several metric tons of zero-carbon lime per day. UltraTech’s partnership with UCLA aligns with its broader sustainability goals and its focus on developing and adopting innovative technologies to decarbonise its operations.

“UltraTech is fully committed to realising its Net Zero Goal by 2050. As an industry leader UltraTech is constantly exploring partnerships to overcome the technological barriers to decarbonise cement manufacturing.” said Mr. K C Jhanwar, Managing Director at UltraTech. “We are excited to collaborate with UCLA on this groundbreaking project. Partnerships like these, which place an emphasis on developing and deploying new and emerging technologies, will be a key enabler in our sector's efforts to accelerate decarbonisation and deliver carbon neutral concrete by 2050,” he added.

“The ZeroCAL approach is a powerful solution to eliminate carbon emissions associated with the process of cement production within the existing industrial paradigm of Ordinary Portland Cement (OPC) clinker production and without a need for carbon capture and storage,” said Professor Gaurav Sant, ICM director and the study’s corresponding author and the Pritzker Professor of Sustainability at the UCLA Samueli School of Engineering. “It effectively eliminates the carbon dioxide emissions resulting from limestone’s decomposition while providing clean hydrogen and oxygen to heat the cement kiln,” he added.

To accelerate its decarbonisation efforts, UltraTech is collaborating with technology startups to explore the use of emerging decarbonisation technologies including kiln electrification and carbon capture & storage.

·         MMTC-PAMP, recognised as Asia’s purest brand for gold and silver products, shares the joy of Dhanteras and Diwali with their Goddess Lakshmi 24K (99.99%+) Gold Bar 10 gm

·         The purest 99.99%+ gold bar features an intricately designed image of Goddess Lakshmi, revered as the symbol of wealth and prosperity

·         In addition to this divine gold bar, MMTC-PAMP offers Ram Lalla 24K (99.99%+) 10 gm Gold Bar; Ram Lalla (99.99%+) Purity 50 gm Silver Bar; Lord Ganesha (99.99%+) Purity 50 gm Silver Coin; Goddess Lakshmi and Lord Ganesha Silver (99.99%+) 100 gm Silver Coin and Lotus 24k (99.99%+) 10 gm Gold Bar, amongst many other products

 

 

With the festive season around the corner, MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery Gold & Silver refiner and recognised as Asia and India’s purest precious metal brand, is illuminating the festivities of Dhanteras and Diwali with its intricately designed ‘Goddess Lakshmi 24K (99.99%+) purity 10gm Gold Bar’ and wide range of other purest gold & silver products.

Goddess Lakshmi is eternally honoured as the divine embodiment of abundance and is a timeless symbol of wealth and prosperity. The Goddess Lakshmi Gold Bar captures her sacred essence, beautifully preserving her divine symbolism while ushering in the joyous festive season.

 

The bar portrays Goddess Lakshmi in divine Padmāsana atop her lotus throne, her hands holding sacred lotus blooms that shower infinite wealth upon devotees. Like the lotus that rises untouched through murky waters to achieve pristine perfection, this gold bar, crafted by the Finest Swiss Craftsmanship with 99.99%+ purity and positive weight tolerance, represents the pinnacle of both spiritual and material excellence, making it a truly auspicious gift for this festive season.

Speaking about the announcement, Vikas Singh, Managing Director & CEO of MMTC-PAMP said,

“A quintessential representation of prosperity and good fortune, Gold & Silver has been an integral part of every Indian household for centuries.  The auspicious ritual of purchasing Gold and Silver during the annual Diwali festivities commence with Dhanteras, and buying Gold on this day is considered to bring wealth and success. To celebrate this occasion, we are pleased to offer the Goddess Lakshmi 24K (99.99%+) Gold Bar which encapsulates good fortune and prosperity with the finest Swiss craftsmanship combined with rich Indian traditions. These offerings are in line with our endeavour to provide the purest gold and silver to our consumers.”

Dhanteras commences the start of Diwali and is considered an opportune time to purchase gold and silver products as it invites long-term blessings of Goddess Lakshmi for wealth and prosperity as well as of Lord Ganesha for a trouble-free start to new beginnings. For many Indians, especially during festive seasons, investing or purchasing precious metals such as gold and silver is considered as a safe haven asset during times of reduced economic opportunities.

For this Dhanteras, the most auspicious time to purchase gold is on October 29th between 5:54 PM and 8:22 PM. This timing is particularly favourable for inviting prosperity and blessings into your home.

Packaged in a premium minted card, the Goddess Lakshmi Gold Bar, is an ideal gift for yourself or your loved ones and is also a treasured collectable that can be passed down through generations. The 99.99%+ Purest Gold Bar stands out with its intricate design of the goddess with the Finest Swiss Craftsmanship while maintaining purity and weight for a precious investment and work of art.

In addition to the exquisite gold bar, MMTC-PAMP offers the Ram Lalla 24K (99.99%+) 10 gm Gold Bar; Ram Lalla (99.99%+) Purity 50 gm Silver Bar; Lord Ganesha (99.99%+) Purity 50 gm Silver Coin; Goddess Lakshmi and Lord Ganesha Silver (99.99%+) 100 gm Silver Bar and Lotus 24k (99.99%+) 10 gm Gold Bar on this occasion.

More information on MMTC-PAMP products can be obtained from MMTC-PAMP’s exclusive stores, leading jeweller partners, online marketplaces like Amazon and Flipkart, or directly from MMTC-PAMP’s website: shop.mmtcpamp.com.   

Every product created by MMTC-PAMP goes through a rigorous purification process to ensure 99.99%+ purity of the metal. To ensure the product’s authenticity, each MMTC-PAMP product carries a unique number and comes packaged in an Assayer-certified certicard. Each gold and silver product bought from MMTC-PAMP offers positive weight tolerance, guaranteeing that every coin or bar you buy weighs more than the listed weight, ensuring customers get the highest value for their investment.   

Over 800 participants, emphasize the significance of holistic healing in combating breast cancer

 

Under the aegis of Apollo Cancer Centres (ACCs), Apollo Athenia— India’s first centre for women’s health, successfully organized a Breast Cancer Awareness Yoga Event today at Nehru Park, Yoga Sthal, Chanakyapuri, New Delhi. The event, a part of the ACCs’ #TalkPink Campaign, was designed to emphasize the pivotal role yoga plays in the fight against breast cancer. This awareness initiative reflects ACCs’ commitment to integrating wellness and medical care to support cancer patients on their journey to recovery and aid people to imbibe holistic living for a better tomorrow.

 

With over 800 participants, including 250 cancer patients and 100+ doctors, the event successfully brought together survivors, medical professionals, and wellness advocates to highlight the significance of holistic healing in the fight against breast cancer. In addition to raising awareness, the event provided a platform for participants to demonstrate the positive impact of integrative wellness practices like yoga in their lives.

 

The session was inaugurated by H. E. Freddy Svane, Honorable Ambassador of Denmark to India, who served as the event’s Chief Guest. He said, “In Denmark, we recognize the importance of holistic health in cancer care, where yoga plays a significant role in enhancing both physical and mental well-being. I am delighted to witness the breast cancer awareness initiative organized by Apollo Athenia for women’s health. It is inspiring to see their collaboration with Mr. Sourabh Bothra in creating supportive spaces for those impacted by breast cancer. This gathering underscore our shared commitment to advancing integrative approaches in healthcare, fostering communities of healing and hope.”

The highlight of the event was a Chair Yoga session, specially curated for breast cancer patients and survivors, led by Mr. Sourabh Bothra, a world-renowned yoga expert. The yoga session emphasized gentle poses and breathing exercises tailored to help cancer patients recover faster, improve flexibility, and boost their emotional well-being.

 

Breast cancer is the most common type of cancer among women globally, accounting for 23% of all cases. The global burden is projected to exceed 2 million cases by 2030, with developing countries contributing significantly. In India, incidences of breast cancer is reportedly higher in the Northeast and major cities.

 

Dr. Geeta Kadayaprath, Senior Consultant – Breast Surgery, Apollo Cancer Centre, New Delhi, said, “As we gather for the Chair Yoga event, our aim is to amplify the conversation around breast cancer and the role of yoga in enhancing recovery. At Apollo Women's Cancer Centre, we are committed to providing world-class medical care, and compassionate support, that addresses the whole person. This event is a celebration of strength, resilience, and community. Together, we can inspire hope, promote early detection, and encourage holistic wellness practices to aid in the healing journey.”

 

Ritu Kapoor, who’s undergoing chemotherapy post her bilateral breast cancer surgery at Apollo Cancer Centres, New Delhi, said, “For me, yoga has been my anchor during these trying times. It's helped me find strength, calmness, and hope. Participating in this event reminds me that I'm not alone and that, healing goes beyond surgery, nurturing my body, mind, and spirit. I'm grateful for this supportive community.”

 

 

#WinningOverCancer

 

• The media-tech venture is backed by Micromax Informatics, Nikhil Kamath and Stride Ventures

 

Streambox Media, a strategic media-tech venture founded by Industry veteran Anuj Gandhi is poised to reshape the home TV viewing experience. Launched in partnership with Micromax Informatics – India’s homegrown consumer electronics giant and backed by Nikhil Kamath and Stride Ventures, the brand is set to create a new segment in the consumer tech space and reshape how India’s connected TV audience engages with entertainment.

 

The leading industry stalwarts, together, bring this first-of-its-kind television operating system to India, enabling users to enjoy their favourite shows, movies, news and live sports through one simple, easy-to-use interface—eliminating the inconvenience of navigating across myriad OTT platforms. The unified, next-generation TV Operating System (OS) is designed (in India) for seamless content discovery and also contextual publishing across multiple OTT platforms and live television services. 

 

Anuj Gandhi, Founder and CEO of Streambox Media, said, “The connected TV industry is thriving, and it’s pivotal to understand the changing consumer preferences. According to recent research, India’s connected TV households are expected to cross 100 million by 2027, up from just 40 million in 2023. This is also observed in India's OTT market, which is expected to grow from $2 billion in 2023 to $5 billion by 2027 due to evolving consumer preferences for on-demand content. In a market traditionally dominated by global players and big tech, we aim to establish ourselves as a key player in the TV OS landscape and the OTT aggregation ecosystem. With our “Made in India but made for the world stage” approach, we will set a new benchmark for convenience and personalisation for global markets with an initial focus on India. In today’s crowded media landscape, we will simplify access and redefine how people discover and enjoy content. Our vision is to make content discovery effortless and elevate the viewing experience, all integrated directly into our operating system. We're deeply committed to a consumer-first approach across all our products.”

 

Rahul Sharma, Co-Founder of Micromax Informatics, emphasized the strategic importance of this collaboration, stating, “Technology and user experience are at the heart of the consumer market today. Our partnership with Streambox Media will push the boundaries of what’s possible in home entertainment, integrating cutting-edge technology to offer users a premium and intuitive content experience. We see this as a natural extension of Micromax’s commitment to delivering innovative, high-quality products to Indian consumers, with the vision to scale globally.”

Nikhil Kamath, Entrepreneur and Investor said, “India’s innovation story is just beginning to unfold, and at the heart of it is the need for smarter, simpler solutions. With Streambox, we are aiming to solve a problem many of us face—too much choice but not enough ease in accessing it. Growing up, we didn’t have all these entertainment options, but today, our screens are filled with content that’s often fragmented. Streambox is tackling that head-on, giving users a unified, seamless way to find and enjoy what they love, whether it’s a TV show, live news, or a movie. It's an Indian solution to a global problem, and I think that’s where the opportunity lies.

 

Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, commented: “Indian startups are being increasingly designed with a 'born global' mindset, tackling the most pressing challenges in high-growth markets not just in India but worldwide. Streambox Media embodies this vision, crafting solutions in India for global audiences, in high-potential sectors like media-tech, where disruption can transcend borders and revolutionize entertainment.”

·         The birth of a Sahiwal calf, conceived through sex sorted semen (SSS) artificial insemination (AI), gives Heelendra Sahu from Nandini Khundini village hope for a brighter financial future.

·         Sudarshan Yadav from Pathariya town witnessed a boost in his dairy production following the arrival of a Holstein Friesian calf, born through SSS AI.

ACC, the cement and building material company of the diversified Adani Portfolio, is committed to facilitating sustainable livelihoods for communities where it operates. Along with the Adani Foundation, the Company is transforming the lives of dairy farmers in villages near ACC Jamul by enabling them to improve their dairy production through sex sorted semen (SSS) artificial insemination (AI) for the livestock.

The Adani Foundation’s Livestock Development Project (LDP) provides access to SSS AI services, training, and guidance, empowering dairy farmers to enhance their livestock and boost their incomes. The SSS AI technology increases likelihood of birthing a female calf from 50% for regular AI to 90% and is hence a boon for dairy farmers.  The project has proved a tremendous success.

Heelendra Sahu, a 35-year-old farmer from Nandini Khundini village, faced financial challenges supporting his family of seven. However, life took a turn for the better when he decided to implement SSS AI on his Desi cow. The result was the birth of a Sahiwal calf, injecting a much-needed boost to his family’s income.

Sudarshan Yadav, a 34-year-old farmer from Pathariya town, manages a large family of 11 members with an annual income of Rs. 1 lakh through farming and animal husbandry. Inspired by the Adani Foundation’s dairy training, he implemented SSS AI on his Holstein Friesian (HF) cow. This resulted in the birth of a healthy female HF calf, significantly boosting his dairy production.

ACC and the Adani Foundation actively work towards improving rural livelihoods. These success stories demonstrate the power of agricultural innovation in empowering farmers, enabling them to secure a brighter future for themselves and their families.

 

·         The second edition of the Corporate Innovation Programme aims at enhancingIndian consumer’s lifestyle

·         Beyond Next Ventures is the Venture Partner, Dentsu is the theme partner, and Zinnov will be the consulting partner

·         Registration for Panasonic Ignition’s 2^nd edition startfrom 23^rd October to 29^thNovember 2024, for details log on to https://ignition.in.panasonic.com

 

Panasonic Life Solutions India (PLSIND), a leading diversified technology company, and Panasonic Corporation (PC) today launched the second edition of “Panasonic Ignition” challenge in association with Beyond Next Ventures, the venture partner.Panasonic Ignition challenge is a corporate innovation accelerator programme focused on improving Indian consumer lifestylesthrough technology innovations in areas such as smart living technologies, personal health and wellness, sustainable living, energy efficiency, connected devices, lifestyle services, and personalized experiences. The startups may apply for the Panasonic Ignition’s 2^nd editionathttps://ignition.in.panasonic.comfrom 23^rd October to 30^th November 2024.

 

The second edition of Panasonic Ignition – the accelerator programme has been designed byPanasonic’s India Innovation Centre (IIC)in collaborationwith Beyond Next Ventures, Denstu, and Zinnov. Here, the selected startups will receive potential investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them towards building innovative technologies andproducts that enhance people's lifestyles in India.

 

Mr. Kunio Gohara, Chief Transformation Officer (CTRO) & Head of CVC office, Panasonic Corporation said, “Panasonic Ignition is a key component of our broader innovation strategy, i.e., to stay at the forefront of emerging technology and consumer trends. The Ignition Program fosters open innovation by collaborating with agile startups to complement our internal R&D efforts, allowing us to rapidly prototype and test new ideas in the Indian market. This initiativeis further to our mission to improve people's lives through technology, and in parallel, helping us identify potential investment opportunities through our Panasonic KURASHI Visionary Fund (PKVF). Through this collaborative initiative not only we are adapting to change but also actively shaping the future of consumer technology and lifestyles in India and beyond.”

 

Commenting on the launch, Mr. Manish Misra, Chief Innovation Officer, Panasonic Life Solutions India said,“Currently, India has the third largest startup ecosystem globally with over 1,12,700 startups.And there has been a remarkable 15X increase in total funding since 2015, further,depicting the immense potential of our entrepreneurs. This presents a unique opportunity for us to address thelifestyle challenges faced by our customers.The first edition of Ignition Challenge*focused on real-life challenges around Energy Management Systems for Commercial Spaces. This year's theme focuses on understanding and adapting to the emerging lifestyle changes of Indian consumers in the next few years, with the goal of creating personalized and holistic solutions that enhances their overall well-being and upgrade their lifestyles. Here, we look forward to working withBeyond Next Ventures, Denstu, Zinnov and the emerging startups.”

 

Tsuyoshi Ito, the CEO and Managing Partner of Beyond Next Ventures commented, “India has a thriving startup ecosystem with many innovators building new products and services that help improve the lifestyles and well-being of people. As a venture capital firm, our mission is to find such innovators and help them scale. Panasonic Ignition is an ideal platform for startups to partner with a global market leader like Panasonic and collectively serve the needs of future consumers. We are honoured to partner with Panasonic for this unique and exciting program.”

 

Together with Beyond Next Ventures (Venture Partner), Dentsu (Theme Partner), and Zinnov (Consulting partner), Panasonic is committed to driving meaningful innovation that enhances Indian consumer lifestyles. By leveraging Dentsu’s insights into future trends, Beyond Next Ventures’ startup network, and Zinnov’s strategic collaboration frameworks, Panasonic aims to co-create cutting-edge solutions that align with emerging market needs. This collaborative effort reinforces Panasonic's vision of staying at the forefront of technological advancements and consumer-centric innovations, fostering sustainable growth and positive societal impact in India.

 

In the first edition of Panasonic Ignition Challenge – Enlite and Clairco were recognized as the winners.Enlite focuses on AI-enabled wireless building management system and Clairco develops IoT-based smart air purification devices & space optimization solutions. Both the start-ups are currently involved in strategic customer trials and parallelly Panasonic Holdings Corporation is conducting a formal investment due diligence.