The Eighth INSPIRE Session jointly organized by Technopark TBI and the Group of Technology Companies (GTECH) was held on November 26, 2010 at Malabar Hall, Technopark. The session titled ‘Credit Rating & Funding for Technopark Companies’ was organised in partnership with SIDBI, NSIC and ONICRA.
Shri. Vivek Mangal, Manager, NSIC made a presentation on NSIC and Shri. N. Harinath & Shri. S.A Ansary, Kerala Region detailed about the ONICRA Credit Rating. Shri. Jayesha.M.R , DGM-SBT, Trivandrum Main took a session on the Credit Rating in Banks. Spot registration for NSIC-ONICRA Credit Rating was also held. Shri. Ramesh Dharmaji, General Manager, SIDBI took a session on the Risk Capital Assistance to Small and Medium Enterprises by SIDBI.
Mr. Mervin Alexander, CEO- Technopark, Ms. Indumati Sridhar, DGM, SIDBI , Mr. KCC Nair, CFO- Technopark and Mr. Binu Sankar, CEO, GTECH were present during the session. CEOs from MSME’s inside the Technopark campus held fruitful discussions with the guests on various benefits of Credit Rating and about the risk capital assistance schemes of SIDBI and Credit Guarantee Schemes of Govt of India.
“Securing Credits from Banks and financial institutions has been a major challenge faced by MSMEs/ start up companies. The problem has been mainly credibility and capability issues, lack of faith shown by buyers and suppliers. In this scenario Credit Rating of MSME assumes utmost importance.” said Mr. Mervin during the opening speech.
One of the major factors inhibiting the growth of SMEs is non-availability of adequate owners’ capital. Also, most of the SMEs are not able to attractexternal equity due to high perceived risk, limited exit options and hightransaction cost. Innovative and early stage ventures rarely receive conventional banking assistance due to high risk perception and lack of tangible security.
Based on the international learning and practices, SIDBI has evolved various risk capital products. These include equity assistance, quasi equity/ mezzanine products, Sub-debt etc. The assistance is generally provided on the backing of cash flows from the business rather than asset cover/ collaterals. Risk capital assistance is often structured to be flexible with respect to return and repayments, thereby ensuring greater chances of success of the ventures, especially early stage ones. The Session details about various funding schemes by SIDBI to SMEs / start ups. Shri. Ramesh Dharmaji made a detailed presentation on this.
Magnicode Solutions Pvt Ltd, a new business venture started operations from TBIC, Thejaswini. The company is pursuing development of web applications, websites and software products for popular social networking websites and mobile phones, especially for Facebook community and for iPhone users. Mr.Sreelal is the Managing Director of Magnicode, the 96th Company in T-TBI
Trailblazer Software Solutions Pvt Ltd, the 97th company in Technopark Technology Business Incubator has signed agreement for pre-incubation. Trailblazer is a business startup offering internet and web related services and software solutions to the domestic as well as overseas market. Mr. Anvar Basheer is the managing Director of Trailblazer.
An Entrepreneurship awareness session by Mr.K.C.Chandrasekharan Nair, CFO & Programme Coordinator-New Initiatives Technopark and Registrar, Technopark TBI was organized by IT Department, School of Engineering, Cochin University of Science and Technology (CUSAT). The session was organized as part of the ISTE- STPP Teachers Training Programme titled ‘Emerging Trends in IT & its applications’ which was inaugurated by Smt. Seema, Member of Parliament. The co-ordinator of the programme was Mr. Santosh Kumar.M.B. During the session he stressed the need to promote student entrepreneurship in campuses by establishing Innovation and Entrepreneurship Development Centres and made a detailed presentation about the initiatives of Technopark TBI in this regard. The session was highly interactive and faculties from different CUSAT campuses were present and they expressed keen interest to start entrepreneurship activites in their campuses.
One of the major factors inhibiting the growth of SMEs is non-availability of adequate owners’ capital. Also, most of the SMEs are not able to attract external equity due to high perceived risk, limited exit options and high transaction cost. Innovative and early stage ventures rarely receive conventional banking assistance due to high risk perception and lack of tangible security.
Technopark TBI in association with GTECH, SIDBI, NSIC & ONICRA is organising the monthly inspire programme on “ Credit Rating & Funding ” for Technopark Companies on Friday, 26th November 2010 at Malabar Hall, Park Centre, Technopark. This will be a very important programme for MSMEs as well as Start up companies in the campus. You will have spot registration for Credit Rating by ONICRA, one of the leading credit rating agencies in India. This is an NSIC-ONICRA joint programme. You will get 75% discount on the rating if you are a registered SSI/ MSME unit. If not, they will help you in registration as SSI/ SME Unit. Getting the Credit rating means you will get 1% reduction on any bank Loan to be availed by you and also you are exempted from providing Collateral security for availing loans!
General Manager SIDBI, Mumbai is also taking a session on “Risk Capital Assistance for SMEs” and interacting with you and will help you in getting Risk Capital Assistance from SIDBI.
Dev Web Services established in 2008 as an incubator company at Technopark TBI with the aim of providing quality web products to the Indian & Middle East markets has launched an online matrimonial site RichMatri.com on Nov 12, 2010.
Shaiju V Raman, Director, Dev Web Services said, “Online matrimonial sites are the most happening place where marriages are getting fixed in this Internet age. We are entering into this business under the brand name of RichMatri.com to target the wide and ever growing audience of mobile phone users.”
The company focuses on the wide and ever growing audience of mobile phone users. Richmatri.com will offer free registration services and notify clients of suitable matches through SMS. The website will also offer value added services like local member search using kilometre radius with the help of Geo Codes, verify profiles and their locations with the help of an online map and at the same time ensure privacy by revealing contact details only to interested members.
Innoz Technologies Pvt.Ltd, one of the most innovative and exciting company working on rich mobile and web applications, has been selected as a finalist for Red Herring’s top 100 Asia award, a prestigious list honoring the year’s most promising private technology ventures from the Asia business region.
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Asia. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
The finalist were selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the mobile, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award.
National Centre for Innovation Incubation and Entrepreneurship (NCIIE), the training arm of Technopark TBI in association with EDII Ahmedabad with the support of NSTEDB, Department of Science & Technology (DST) Govt of India conducted a National Faculty Development Program (FDP) designed to train and develop professionals in the area of Entrepreneurship Development in Technopark from October 19-30, 2010. On the concluding day Technopark CEO , Shri. Mervin Alexander addressed the participants and held an interactive session with them. He also distributed the certificates to the participants.
The Seventh INSPIRE Session jointly organized by Technopark TBI and the Group of Technology Companies (GTECH) was held on November 9, 2010 at Technopark. The resource person was Mr. Daniel H Harris, CEO of Enterpret a strategic Disaster Management Consultancy firm based out of Chicago in US. Dan Harris is founder and president of en-terpret.co, an international Information Technology (IT) consultancy focused on middle market technology for IT Companies. The objective of the session was to provide and facilitate Practical Disaster recovery planning strategies for IT SME’s. Mr. Daniel Harris also spoke on strategic technology planning, workflow and business process evaluation for improved organizational effectiveness, CRM planning, Remote and hosted computing models. Participants from 25 companies attended the programme.