Records, India – Page 2 – Karnataka First

KARNATKA: BUSINESS & FINANCE: INDIA’S FIRST: IIM Bangalore announces India’s first ‘Global Centre of Excellence on Private Equity (PE) and Venture Capital (VC)

As the private equity (PE) and venture capital (VC) landscape in India continues to grow, IIM Bangalore on Saturday announced to set up country’s first global centre on PE-VC.

Professor U Dinesh Kumar, Dean, Faculty at IIM Bangalore signed an MoU with Mathew Cyriac, Executive Chairman, Florintree Advisors Pvt Ltd, to set up the Tony James Centre for Private Equity and Venture Capital.

Named after the legendary investment banker Tony James, the Centre aims to be a global thought leader for research in matters relating to the PE and VC landscape.

Cyriac is contributing Rs 17.5 crore towards the centre. “This is the single largest-ever contribution from an alumnus and we are grateful to Mathew not just for his generous support but for his extreme thoughtfulness in contributing to the naming of four classrooms on campus after faculty who taught his batch,” said Professor Rishikesha T Krishnan, Director, IIM Bangalore.

Cyriac said he expects the Centre “to emerge as a globally reputed ‘go-to’ place for all players interested in private equity as well as venture capital.”

The Centre will serve as a hub for cutting-edge research, education and industry collaboration in the field of PE-VC, where students will connect with industry leaders, gain hands-on insights, and explore the latest trends in the sector.

James has watched the Indian PE landscape flourish. He said that private equity is a strong contributor to the vibrant Indian economy.

The opening of the Centre comes at a time when foreign investment in the country is booming across sectors, riding on the country’s robust domestic macros.

VC investment in the country surged to $4 billion in the April-June period (Q2 2024), from $2.9 billion in the previous quarter. VC investment is expected to continue to pick up in India, driven in part by the country’s stable government and positive economic environment, according to a latest KPMG report.

India Inc saw impressive 195 deals worth $8.4 billion in July, a 16 per cent jump in volumes. PE deal activity continued to lead the volumes for the month, contributing to 57 per cent of the overall volumes, according to ‘Grant Thornton Bharat Dealtracker’.

source/content: daijiworld.com (headline edited)

NATIONAL: EDUCATION – TOP SPOT: IISc Bengaluru Wins Top Spot in NIRF India Rankings 2024: Check Out Top 10 Universities

Summary

The Ministry of Education (MoE) released the ninth edition of the National Institutional Ranking Framework (NIRF) 2024 Rankings on August 12, providing a detailed evaluation of India’s top universities.

The NIRF framework assesses institutions based on several critical parameters

NIRF Rankings 2024 Top 10 Universities in India

The NIRF framework assesses institutions based on several critical parameters, including Teaching, Learning & Resources (TLR), Research and Professional Practice (RP), Graduation Outcomes (GO), Outreach and Inclusivity (OI), and Peer Perception.

The NIRF Rankings serve as a valuable tool for students, educators, and institutions, highlighting achievements and areas for improvement and driving continuous development across India’s higher education landscape.

source/content: telegraphindia.com (headline edited)

INTERNATIONAL: KARNATAKA: BUSINESS & ECONOMY: US Energy giant Chevron to set up engineering & innovation center in Bengaluru with $1bn investment

The centre will focus on improving operational reliability, low-carbon energy solutions, and subsurface geology for carbon storage.

Global energy solutions provider Chevron is investing $1 billion in a new research and development (R&D) hub called Chevron Engineering and Innovation Excellence Center (ENGINE) in Bengaluru. This marks the company’s first engineering and innovation center in India of scale.

Chevron ENGINE, to be located near Bellandur, will be hiring talent with specialised skills encompassing both engineering and digital services, with approximately 600 positions to be filled by 2025-end, and plans to add more positions over time.

Akshay Sahni, incoming country head, Chevron India, stated that the setting up of this center marks a significant milestone in Chevron’s 145-year history. Other than a large technical center in Houston, US, and California, the company has some smaller labs in Aberdeen. India will house one of the larger technology hubs of the company.

“We believe this is a fascinating time for the energy sector, with the dual challenge of meeting growing energy demands while building a lower-carbon energy system for the future. And the people here at the ENGINE will help work towards those technology solutions,” he told Business Standard in a video interview.

The company plans to hire and recruit from all the disciplines of engineering — mechanical, chemical, computer science and electrical. It will also be recruiting specialists in geology, geophysics and environmental science.

Sahni emphasized that the $1 billion investment signifies not only financial commitment but also the sharing of global expertise. “We’ll see collaborative partnerships resulting in technology solutions developed at scale in Bangalore. We truly believe that it’ll take partnerships between the immense talent that is available in India and some of our subject matter experts around the world.”

The center will focus on improving operational reliability, low-carbon energy solutions, and subsurface geology for carbon storage. Sahni noted that Chevron’s relationship with third-party tech services will continue to be beneficial, with plans for both external partnerships and in-house collaborations.

source/content: business-standard.com (headline edited)

KARNATAKA: ENGINEERING INNOVATION: Bengaluru’s Sci560 exhibition reveals city’s scientific evolution

The Sci560 exhibition at Science Gallery Bengaluru highlights the HAL HT-2 aircraft, a key symbol of the city’s military-industrial-academic synergy.

Bengaluru is much more than just a hub for IT giants and startups; it’s a city with a rich scientific heritage spanning over a century, shaping its identity as India’s premier science and technology city. Starting Saturday, Science Gallery Bengaluru is inviting the public to explore this legacy through its latest flagship exhibition, Sci560. Running until the end of the year, the exhibition takes visitors on a journey through the city’s transformation from a serene garden city to a bustling industrial, military, and IT powerhouse.

Jahnavi Phalkey, director of Science Gallery Bengaluru, explains that Sci560 explores the ‘long 20th century,’ beginning in the late 19th century and extending into the present. “We aim to unravel the various layers of Bengaluru’s evolution into the city it is today,” she says. This transformation is illustrated through a series of thoughtfully-curated exhibits, borrowed from the city’s premier scientific institutions.

A central theme of the exhibition is Bengaluru’s identity as a ‘military-industrial-academic complex,’ a concept that Phalkey finds particularly fitting. Drawing a parallel with Silicon Valley, she notes, “The history of Silicon Valley is often described as a ‘blue sky metropolis,’ reflecting both visionary thinking and the aerospace industry.

Many of these elements also apply to Bengaluru in its own unique way. The exhibition’s primary focus is to explore what makes Bengaluru a military-industrial-academic complex. Over the years, these elements have become deeply embedded in the city’s fabric.”

Bangalore Torpedo

Gayatri Manu, senior programme associate at Science Gallery Bengaluru, highlights how the exhibits showcase the city’s diverse scientific contributions. “One of the key exhibits is the HAL HT-2, the Hindustan Trainer 2 aircraft, which was India’s first domestically-designed and developed aircraft – a significant milestone achieved in 1951,” she says.

“The idea originated from a professor at IISc, the manufacturing was carried out in Bengaluru at Hindustan Aeronautics Limited (HAL), one of the first major public sector undertakings post-Independence, and the aircraft served the Indian Air Force for nearly three decades. This story exemplifies how industry, military, and academia collaborated to advance scientific research in India, a crucial narrative we wanted to highlight.”

Another fascinating exhibit is the Bangalore Torpedo, developed in the early 20th century with origins in the weaponry devised during Tipu Sultan’s reign.

Throughout its duration, Sci560 will be accompanied by a variety of workshops, lectures, and live experiments, offering visitors opportunities to engage directly with the scientific concepts on display. These programmes are designed to be highly interactive, encouraging visitors not just to observe but also to participate in the scientific process.

(Sci560 opens on Aug 24 at Science Gallery Bengaluru, Bellary Rd and runs through Dec 31. For more info, visit bengaluru.sciencegallery.com)

source/content: newindianexpress.com (headline edited)

KARNATAKA : PATENTS – I.T : Bengaluru firm SISA Infosec secures Patent for Innovative Aadhaar Data Management Systems

After sustained efforts, the Bengaluru-based cybersecurity firm SISA Infosec has been awarded a government patent for a groundbreaking system designed to manage Aadhaar data, marking a significant advancement in data security and compliance technology.

The newly patented system, known as the SISA Radar Aadhaar Data Discovery Engine, aims to transform how organisations handle sensitive Aadhaar information, ensuring adherence to Unique Identification Authority of India (UIDAI) standards.

Dharshan Shanthamurthy, CEO- cum- founder of SISA, expressing enthusiasm about the patent, said that the new technology will streamline the automated detection, masking, and secure management of Aadhaar data. This development, Shanthamurthy explained, represents a major leap forward in protecting Aadhaar data and fortifying organizational security protocols against potential breaches. “We are thrilled to introduce a technology that not only identifies but also manages sensitive Aadhaar data securely. The SISA Radar’s new system ensures that confidentiality breaches are a thing of the past,” Shanthamurthy said.

The innovative system aims to address the challenges of data management in sectors such as banking, finance, and tourism, offering a robust solution for compliance with UIDAI’s stringent security requirements. The SISA Radar system stands out for its unique features, which include automated detection of Aadhaar data, masking of sensitive information, and secure data storage. The technology facilitates these processes without requiring user intervention, thereby simplifying compliance with regulatory standards and reducing the risk of data breaches.

The system’s one-click solution for truncating or masking Aadhaar data is designed to minimize the time and effort required to secure information effectively. In a statement here, it has been claimed that the SISA’s new patent is expected to set a new benchmark for data management practices across various industries, providing a reliable and efficient tool for organisations to protect critical information. It said that the system’s capabilities not only ensure data security but also enhance overall operational efficiency for businesses handling Aadhaar data.

A senior functionary of SISA said that this development underscores a broader government strategy to collaborate with industry leaders in advancing data protection technologies and reinforces ongoing efforts to safeguard the personal information of Aadhaar number holders.

source/content: newindianexpress.com (headline edited)

NATIONAL AWARDS: KARNATKA: ARTS &CULTURE – CINEMA: Hadn’t imagined this in my wildest dreams, says filmmaker Dinesh Shenoy on winning National Award

Filmmaker Dinesh Shenoy was shooting on St Mark’s Road on Friday when he got the news that the editor of his film Madhyantara is to be honoured for best editing in a non-feature section at the 70th National Film Awards. He immediately called Suresh Urs to share the news. A few minutes later, he got a call from Urs and this time, Shenoy was being congratulated. Initially puzzled, Shenoy later realised that his short had also won big – The best debut film of a director award.

Having been an ad and corporate filmmaker since his late 20s, Shenoy took a turn towards cinema in his 50s with Madhyantara. But he reveals that it was never supposed to be a short film. “I actually wanted to make a feature-length film. I have been doing ad and corporate films and made this short film as a different way to pitch my idea to producers, more like to convince them that I could work with a feature-film format,” shares the 56-year-old, adding that getting a National Film Award for his effort was never really on his mind. “I hadn’t imagined this [winning] in my wildest dreams,” he says. However, he still hopes he can turn it into a feature film when he finds a producer who believes in the project.

Set in Bengaluru of the ’80s, Madhyantara, which translates to intermission, is the director’s ode to Kannada movies and the people who work passionately on them. The genesis of the story began during the Covid-induced lockdown when Shenoy came across interviews with technicians and a producer who worked in the Kannada film industry.

“What was fascinating about the interview was they were talking about the movie which I had watched during my childhood. In one of the interviews, a producer revealed a story where he and his best friend shared a single movie ticket, where one watched the movie from the beginning to interval and the other watched the second half,” says Shenoy, whose eureka moment was right then, leading him to create his main characters, Raja and Kumara.

The film follows two friends with a deep passion for movies and their journey to become filmmakers. The film uses understated humour with a lot of the plot being inspired by Shenoy’s own experience with filmmaking. “I studied cinematography but when I ventured into filmmaking, I could not find my footing. I didn’t get a job immediately so I started my career as a light boy, just like my characters, Raja and Kumara in the films,” Shenoy shares.

With homages to Kannada superstars Dr Rajkumar and Ambareesh, the short is also a treat to cinephiles and enthusiasts of regional cinema. “It was important to get the costume and hairstyle right. I got in touch with a photographer friend who had categorised his shoots from different eras. That became the base of most of the looks,” says Shenoy.

Shenoy is quite happy that his film is sharing the spotlight with films like Kantara and KGF: Chapter 2 . “You hear a lot about feature films. But when a film like Madhyantara wins, which people hardly know about, that feeling is something else,” says Shenoy.

source/content: newindianexpress.com (headline edited)

INTERNATIONAL: NATIONAL / KARNATAKA: Foxconn’s Karnataka facility set to become second-largest after China plant, says CEO Young Liu

Under Project Elephant, Foxconn is setting up an iPhone assembly plant in Karnataka. The company has acquired 300 acres of land in the ITIR industrial area, located in Doddaballapur and Devanahalli Taluk of Bengaluru Rural district. The project, with an investment size of Rs 22,000 crore, is expected to generate employment for more than 50,000 people.

Young Liu, Chairman of the Taiwan-based Hon Hai Technology Group (Foxconn), met Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar on August 16.

Young Liu, chairman of the Taiwan-based Hon Hai Technology Group (Foxconn) on August 16 said that the unit in Karnataka will soon become the second-largest Foxconn plant after the one in China.

Taiwanese electronics major Foxconn, a major supplier to Apple, has been expanding its presence in India as tech companies seek to diversify production away from China.

Under Project Elephant, Foxconn is already setting up an iPhone assembly plant in Karnataka. The company has acquired 300 acres of land in the ITIR industrial area, located in Doddaballapur and Devanahalli Taluk of Bengaluru Rural district. The project, with an investment size of Rs 22,000 crore, is expected to generate employment for more than 50,000 people.

“It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here. In the future, we plan to explore other sectors also .If there is mutual trust, anything can be achieved.” said Liu.

Liu also shared that Foxconn plans to create a comfortable working environment for its employees, providing them with quality entertainment, gym facilities, accommodation, and food. “This would help establish a global standard industrial environment” he said.

Liu met Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar on August 16. Siddaramaiah hosted a dinner for Liu and senior Foxconn officials, assuring Liu that all necessary cooperation and assistance would be provided to Foxconn for its operations in the state. Liu is also expected to visit the manufacturing plant in Doddaballapur on August 17.

The CM urged Foxconn to consider investing in other sectors, including the fab industry. He said that Karnataka’s rich industrial culture and values make it an ideal hub for comprehensive industrial development.

“Foxconn, which is investing Rs 25,000 crore to establish a massive manufacturing plant near Doddaballapur, will be provided with all necessary infrastructure and support. The state government will extend full support to Foxconn. We will provide everything from water, electricity, and roads to legal assistance,” the CM said.

Industries minister MB Patil said, “The state welcomes more investment without hesitation. The government departments are working with dedication to ensure the smooth implementation of Foxconn’s project. We have already allocated 300 acres of land to the company.”

Deputy CM DK Shivakumar said, “Karnataka has the best business-friendly policies in the country, and it is heartening to see Foxconn investing here.”

source/content: moneycontrol.com (headline edited)

NATIONAL: KARNATAKA: BUSINESS & ECONOMY: Karnataka stands 3rd in country with ₹54,427 cr FDI during 2023-24: CM Siddaramaiah

The Chief Minister was delivering his address on the occasion of 78th Independence Day, after hoisting the national flag at the Manekshaw Parade Ground here.

Chief Minister Siddaramaiah on Thursday said Karnataka stands third in the country by drawing ₹54,427 crore Foreign Direct Investment (FDI) during 2023-24. He said the state government has taken up multidimensional programmes in the areas of industry, agriculture, infrastructure development, and education to accelerate economic growth, besides the implementation of welfare programmes.

The Chief Minister was delivering his address on the occasion of 78th Independence Day, after hoisting the national flag at the Manekshaw Parade Ground here. He noted that MoUs (memorandum of understanding) have been signed with 13 industries, which will bring in investments worth ₹42,915 crore and is expected to create around 22,600 jobs. The government has approved 591 investment projects through single window committees during 2023-24, he said adding this will result in a flow of ₹84,232 crore investment and employment generation for 1,56,986 people.

“During 2023-24, our state stood first in exports, with a value of USD 1,66,545 Million. The growth is 5.20 per cent compared to previous year.” On the Global Investors’ Meet- Invest Karnataka 2025 to be held in 2025, Siddaramaiah said preparations are in full swing and investors are invited by holding roadshows across the country and the world. The state government has drafted the Karnataka Clean Mobility Policy 2024-29 aimed at attracting Rs. 50,000 crore investments within the clean mobility vehicle sector and creating approximately one lakh new jobs, he said.

The policy is now in its final stage of approval. In his speech, the Chief Minister further said a ‘Skill Advisory Committee’ has been established to provide skill training that matches the demand in the IT and BT sectors. “The committee has submitted a detailed plan for courses aligned with industry needs, and steps will be taken to impart these skills.”

Good infrastructure and transportation connectivity are accelerators for economic growth, he said, in this regard, 1,917 KM of state highways, 2,502 KM of district main roads, and 150 bridges will be constructed in the current year. Pointing to the government’s “Brand Bengaluru” initiative, the CM said it is being implemented to transform the state capital into a world-class city.

It is intended to take up long-term infrastructure development plans for the city through innovative Integrated Financial model with at least ₹48,686 crore. “Our government has made a strong resolve to implement the Peripheral Ring Road project in an effort to reduce traffic congestion (in Bengaluru).”

To expedite the implementation of the state’s irrigation projects, Siddaramaiah said a larger budget allocation has been made this time. Under the Yettinahole Project, ₹855.02 crore has been spent so far this year. Regarding floods due to monsoon showers in parts of the state, Siddaramaiah said he has personally visited the flood-hit districts and Ministers have also managed the situation by camping in district headquarters. “I have directed officials to provide relief for the loss of human lives, livestock and damaged houses. It has been decided to allocate houses along with Rs. 1.2 lakh compensation for those lost houses.”

Stressing that maintaining a balance between development and the environment is essential, he said, in this regard, 1,351 villages in 250 Gram Panchayats located in Chikkamagaluru, Dakshina Kannada, Udupi, Uttara Kannada, Kodagu, Shivamogga, and Hassan, within the Western Ghats, have been identified by Geological Survey of India, as prone to landslides.

To prevent landslides in these areas, mitigation measures will be undertaken at a cost of ₹100 crores in collaboration with the Geological Survey of India and the National Institute of Rock Mechanics (NIRM). On human-wildlife conflict, the CM said, to address this effectively, the government has initiated the construction of 120 km of railway barricades since it came to power.

“Additionally, 7 elephant task forces and 2 leopard task forces have been established. Recently, an international conference on preventing human-elephant conflicts was successfully held in Bengaluru,” he said.

source/content: hindustantimes.com (headline edited)

KARNATAKA: SPACE & SATELLITES: Pixxel opens new spacecraft manufacturing facility in Bengaluru

Pixxel has launched three of its satellites – Shakuntala, D2, and Anand – in collaboration with ISRO and Elon Musk’s SpaceX.

Bengaluru-based space data company Pixxel inaugurated its first spacecraft manufacturing facility in Bengaluru on Monday. The new facility holds significance as it targets to launch six satellites this year and 18 more by 2025, further advancing its mission of building a “health monitor” for the planet.

Spread across 30,000 square feet, the facility, at its full capacity, is equipped to handle more than 20 satellites simultaneously that can be turned around within a timeframe of six months, making possible a total of 40 large satellites per year.

The facility was inaugurated by S. Somanath, chairman of the Indian Space Research Organisation (ISRO), who said, “Space sector is something very tough in terms of technology, market penetration, profitability… Coming into the sector and creating an impact is difficult, as it requires determination, resilience, and time. I congratulate Pixxel for having envisioned, created, and sustained the business for the last five years without losing momentum.”

Pixxel has launched three of its satellites – Shakuntala, D2, and Anand – in collaboration with ISRO and Elon Musk’s SpaceX. The Bengaluru startup further plans to launch Firefly, a constellation comprising six high-resolution hyperspectral satellites, in June. This would be followed by the so-called Honeybees constellation, another satellite constellation that will improve image resolution and the wavelength range of Pixxel’s satellites.

“The inauguration of the new facility marks a momentous milestone as Pixxel nears its fifth anniversary since inception. It will bolster our mission to build a health monitor for the planet. By increasing our capacity to build more satellites, we will deliver even more critical data to our customers faster so they can make informed decisions and address the needs of key industries such as agriculture, energy, forestry, and environmental monitoring,” said Awais Ahmed, CEO, Pixxel.

Additionally, Pixxel will also be rolling out its geospatial analytics platform, Aurora, by June 2024. The company’s satellites are used in the environment, agriculture, and mining sectors to detect oil spills, vegetation, and other geographical issues, respectively.

Pixxel has signed a Memorandum of Understanding (MoU) with the Ministry of Agriculture to provide hyperspectral imagery. Pixxel said 98 per cent of its customers are global, including clients such as British Petroleum, Google, and National Reconnaissance Office (NRO).

Talking about customers, Awais said that the total customer base is divided into three divisions as of now – 40 per cent agriculture, 30 per cent resource companies, and 30 per cent government. Pixxel expects 85 per cent of the revenue to be generated from its commercial side and the rest from the government’s side by 2025.

“We expect 15 per cent of the revenue to come from the government’s side in 2025… We expect this to go up to 40 per cent in 2026,” said Ahmed.

Backed by Google and Lightspeed, Pixxel started operations in 2019 and last raised $36 million in a funding round in June 2023.

source/content: business-standard.com (headline edited)

NATIONAL: INDIA’S FIRST: Kollegal lass becomes country’s First Woman Flight Test Engineer

Sqn Ldr Ashritha V. Oleti of Indian Air Force, hailing from Kollegal in Chamarajanagar district, has been selected as the country’s first woman Flight Test Engineer and has brought laurels to the State.

Daughter of late O.V. Venkatesh Babu and O.V. Vani couple, she has obtained degree from Indian Air Force Test Pilot School, one of the most prestigious training schools in the world. This degree is said to be most difficult and challenging but she has passed out with flying colours, thanks to her grit and determination.

This training school was started in 1973 and so far, 275 persons have obtained degree from this prestigious training institute. She has become the first woman to obtain this degree from this training school.

The job of Test Pilot Engineer is to examine thoroughly any new induction of airplanes.

source/content: daijiworld.com (headline edited)