All posts by Sujata

Build3 Launches Impact Accelerator Cohort 4 for Early-Stage Startups

6th December, 2024: build3, the go-to community for impact startups which are building for profit AND purpose, today announced that it is accepting applications for the 4th cohort of its flagship Impact Accelerator. The program is designed for early-stage startups, and its ongoing third cohort comprises 50 founders shortlisted from over 650 applicants.

The next cohort will begin on February 17, and kick off with a 1-week bootcamp in Goa. Applications will be reviewed on a rolling basis. build3 will offer financial assistance of INR 25 lakhs to select startups at the end of the 10-week program, with opportunities for further funding through the extended community.

Cohort 2 of the accelerator was concluded in August where build3’s financial assistance of INR 25 lakh was extended to three early-stage impact startups. The extensive pan-sectoral investment process will again come under the limelight during the next cohort, applications for which can be found on build3’s website (https://www.build3.org/).

build3’s long-term vision or BHAG (Big Hairy Audacious Goal) is to empower 100k founders creating startups benefiting the mind, body, and earth, go from -1 to 1. The upcoming edition of the accelerator will continue to support early-stage impact ventures aligned with UN Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) regulations.

Mr. Varun Chawla, co-founder of build3, said, “The program has helped us gather critical insights on the contemporary school of thought among upcoming Indian impact founders and we made headway on our goal of supporting 100k impact founders. We have a very clear objective of what we want to witness from the founders at Cohort 4, and we are looking forward to meeting people who are interested in building startups for profit AND purpose.”

Aspirants will have to fill a detailed application, followed by an online interaction, if shortlisted. The process is designed to identify suitable founders committed to their ideas and aligned with build3’s long-term vision.

Over the 10 weeks of the program, entrepreneurs will be upskilled through workshops and keynotes on market research, GTM, product/service building, storytelling, organisational behaviour structuring, fundraising, accounting, and compliance. The program will also feature successful subject matter experts, who will deliver critical mentorship to the next generation of founders.

Participants will enjoy invaluable networking opportunities, access to SaaS tools and free credits from multiple tech service providers. They will also be part of the larger build3 community comprising 300+ creators, mentors and investors, significantly bolstering their chances of success

Building Trust: Atlys Releases Its Pioneering Transparency Report

December 6th 2024: – In a significant step toward fostering accountability and openness, Atlys, a visa processing platform, today announced the release of its Customer Transparency Report. This initiative offers an in-depth look at the company’s operations, fee structures, and customer support performance.

The report provides a detailed look at several key aspects of Atlys’ operations. It begins with an expenditure breakdown, offering insights into how funds are allocated across marketing, customer support, platform enhancements, and operational costs. The report also includes a comprehensive comparison of government visa fees versus Atlys’ service charges, offering clarity on minor variations due to exchange rates or processing fees. It features customer support metrics, such as real-time data on issue resolution times and assistance during travel emergencies, reflecting Atlys’ commitment to responsive service. A section titled “1-star review and what we’ve fixed” candidly addresses the challenges faced by the company, highlighting customer feedback and the actionable steps taken to improve services.

Additionally, the report includes unfiltered customer success stories, emphasizing Atlys’ role in streamlining visa applications for millions of travellers and reinforcing the company’s dedication to delivering a seamless and transparent experience.

“At Atlys, transparency is more than a value, it’s the foundation of trust,” said Mohak Nahta, Founder & CEO of Atlys. “This report is our way of holding ourselves accountable while empowering travelers with the information they need to make informed decisions. From disclosing how we allocate every rupee to owning up to our mistakes and improving, this initiative reflects our commitment to ethical practices and customer-first solutions. We believe this level of openness will inspire confidence and set a new standard in the travel and technology sector.”

With the launch of the report, Atlys not only aims to enhance traveler confidence but also inspire similar practices among the travel ecosystem, fostering a culture of openness and trust. The full Transparency Report is now live on the Atlys website, along with guides, FAQs, and video resources to help customers understand its operations better.

Building Resilient Auto Supply Chains at SIAM Automotive Sourcing Conclave 2024

6th December 2024: The Society of Indian Automobile Manufacturers (SIAM) organised the SIAM Automotive Sourcing Conclave 2024, themed “Towards Building a Resilient Supply Chain”. The conclave emphasised the importance of fostering resilient supply chains to support the automotive industry’s evolution, ensuring sustained growth and alignment with the nation’s self-reliance goals. The conclave witnessed the participation of senior government officials, automotive industry leaders, and experts from the automobile supply chain, who came together to discuss strategies for creating robust and future-ready supply chains.

The conference included three sessions: “Strengthening the Supply Chain Ecosystem for Electrified Vehicles,” “Preparedness for Futuristic Technologies,” and “Balancing Regulatory Compliance vis-a-vis Supply Chain Resilience”. These sessions explored innovative solutions to enhance supply chains for EVs, adopt emerging technologies in sourcing, and harmonise regulatory compliance with operational resilience for a competitive edge.

On this occasion, Dr. Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, Government of India, said, “The automotive industry is a key driver of India’s economy and Aatmanirbhar Bharat is our collective mission. With the Ministry of Heavy Industries advancing local production, R&D, and critical component investment, the supply chain is rapidly evolving. Schemes like PM eDRIVE are boosting local production and R&D, reducing import dependency, and strengthening the supply chain. In FAME1 & FAME2, we had 18 components in our list, but now after discussion, we will shortly circulate a new list with 8 to 9 parts, as others are now being manufactured in India. As of March 2024, INR 18,000 crore has been invested in the localisation schemes.”

Reaffirming the Government’s commitment to fostering industry growth and innovation, Mr. Vimal Anand, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, said, “The automobile industry is a cornerstone of India’s economy, contributing significantly to the nation’s GDP. The government recognises the importance of strengthening domestic manufacturing and fostering robust supply chains, especially those involving MSMEs and local vendors in Tier 2 & 3. The Ministry of Commerce is committed to working closely with the auto industry to address specific concerns at any level of the supply chain or to adapt to new regulatory requirements. An increase in localisation content can only be driven if we have home-grown companies developing cutting-edge technologies.”

Mr. Vinod Aggarwal, Immediate Past President, SIAM and Managing Director & CEO, Volvo Eicher Commercial Vehicles Ltd., said, “In collaboration with ACMA, SIAM has actively championed Aatmanirbhar Bharat by advancing deep localisation and systematically reducing import reliance. SIAM members are committed to reducing imports to the tune of 25,000 crore in a period of 5 years. The industry has submitted a list of about 50 critical components to be sourced locally. The government’s PLI schemes have been pivotal in strengthening India’s capacity and capabilities and we are grateful for their steadfast support which is essential to remain competitive globally and resilient in the face of global uncertainties.”

Highlighting the achievements of the auto component industry, Ms. Shradha Suri Marwah, President, ACMA and Chairperson & Managing Director, Subros Ltd., said, “Despite past challenges, the component industry performed incredibly well in FY2024. Our sector achieved a turnover of 74 billion of which domestic sales to OEMs have been 63 billion. The progress in the component industry reflects the collective effort of OEMs, suppliers, and all the stakeholders. ACMA’s 1,400 globally aligned plants and collaborative efforts with SIAM and the government are driving supply chain excellence. Going ahead, we have committed to partnering for another round of study to take stock of the extent of localisation, especially in the context of rising electronic content, and discuss it across the value chain.”

Speaking about the automotive industry’s remarkable progress, Mr. Sunil Kakkar, Chairman SIAM Aatmanirbhar Bharat Sourcing Group and Senior Executive Director – Corporate Planning, Maruti Suzuki India Ltd., said, “Despite challenges like the pandemic and global uncertainties, India’s automotive industry has flourished, contributing 35% to manufacturing GDP and producing 2.8 crore vehicles annually. Under the Make in India initiative, the auto industry achieved a net import reduction of 7000 crore surpassing the initial target. With a focus on localisation and government support, OEMs and component manufacturers can collectively build a resilient supply chain that propels us toward a Viksit Bharat by 2047.”

Mr. Sachin Kulkarni, Co-Chairman SIAM Aatmanirbhar Bharat Sourcing Group and Executive Director – Corporate Procurement & Member of the Board, Skoda Auto Volkswagen India Pvt Ltd., said, “The joint efforts of SIAM, ACMA, the government of India and stakeholders have helped Indian auto industry commit to localisation and build a resilient supply chain. The industry is also deeply focused on environmental responsibility with SIAM and ACMA working tirelessly to meet the government’s quality standards and reduce oil imports by developing various powertrains based on alternative fuels.”

The conference included esteemed industry leaders and experts, including Mr. Niranjan C, Chief Operations Officer, Amararaja Advanced Cell Technologies; Mr. Hirendra B Divgi, Executive Director, Divgi Torq Transfer Systems Ltd; Mr. Vishwas Deshpande, Director – Purchase, JSW MG Motors; Mr. Badrish Sinha, Co-Chairman, SIAM Aatmanirbhar Bharat Sourcing Group and Vice President-Purchasing, Volvo Eicher Commercial Vehicles Ltd.; and Mr. Krishan Kohli, President & CEO – Light Weighting Business & Nano Technologies, Kalyani Strategic Management Services Ltd, among others.

The esteemed speakers provided invaluable perspectives on enhancing supply chain sustainability, embracing innovation, and streamlining processes to drive efficiency and global competitiveness. The SIAM Automotive Sourcing Conclave 2024 reinforced the commitment of stakeholders to collaborate and develop a resilient, innovative, and sustainable supply chain ecosystem, pivotal to the growth of India’s automotive industry.