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Business Wire India - Multimedia: Digest for November 23, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Six social enterprise teams from five countries emerged as winners at this year's Young Social Entrepreneurs (YSE) Global Programme organised by the Singapore International Foundation (SIF). The teams were represented by 15 youths from China, India, Indonesia, Laos, and Singapore.

They presented the strongest business ideas that addressed social and environmental causes including mental health services, water conservation, the provision of skills and technology for underserved communities, and women empowerment.

The YSE Global Programme also enjoyed the highest level of mentorship support in its 14-year history.

A total of 82 volunteer mentors spent more than 330 hours working with participant teams this year, a 32 per cent increase in hours compared to the previous year.

Mentorship support began at the YSE Global 2023 Workshop held from 7 to 10 June. The mentors comprised business professionals and established social entrepreneurs and they helped 46 teams to strengthen their business fundamentals and strategies.

A total of 15 teams from the June workshop advanced to the next phase of the programme and were assigned up to three mentors from July to October. The volunteer mentors comprised leading business consultants from McKinsey & Company, Temasek International, Bain & Company, and seasoned industry professionals.

During this four-month phase, the volunteer mentors played a crucial role in guiding participants on running a social enterprise. They also helped prepare the teams for an event called Pitching for Change, scheduled for November, which serves as the finale and closing event for YSE. During this event, the teams presented their refined business plans to a panel of judges to secure funding.

Ms Mahdiyyah Ardhina, a member of Rumah Briket and YSE 2023 participant from Indonesia said: "YSE Global has been an intensive boot camp for our team as we are still new in our business. We thank our mentors for their experience and input. They have been invaluable these past few months. They imparted critical knowledge based on years of professional experience and provided fresh perspectives on our business plans." Rumah Briket created a zero-waste solution that processes organic and non-organic waste and converts it into charcoal briquettes and paving blocks.

Dr Yoke Pean Thye, co-founder of WISE, a non-profit organisation that works towards a sustainable and equitable Southeast Asia, and mentor to Rumah Briket, said: "It has been my privilege to support the team. Having benefited from a YSE Regional workshop myself several years ago, I am grateful for the opportunity to give back and help Rumah Briket reflect on and refine their business model. I was heartened and inspired by their passion to address the waste management crisis in Indonesia, dedication to their social enterprise and benefiting the community, as well as motivation to learn and challenge themselves."

She also encouraged more people to sign up as mentors for YSE Global. She said: "It is a meaningful avenue for people who are keen to share their experience with youths who are figuring out their social impact journey."
 
Mr Lian Wee Cheow, SIF Vice-Chairman and Lead Judge of YSE Global 2023 said: "Mentorship is a key component of YSE Global. Our YSE mentors, who are industry leaders with vast experience, have committed their time to share their expertise and networks with our aspiring changemakers. This broadens the horizons of our young participants who are at an early, critical juncture of their journey as a social entrepreneur."
 
He added: "Since 2010, YSE Global has been nurturing a growing network, which now comprises more than 1,400 youths of 43 nationalities, representing 674 social enterprises. By providing mentorship, capacity-building workshops, and regional learning opportunities, YSE supports budding social entrepreneurs to kickstart their journey."
 
Winning Teams Announced at YSE Global 2023 - Pitching for Change
Six out of the 15 shortlisted teams were announced as winners when they gathered virtually at Pitching for Change on 17 November. They were chosen based on the impact and scalability of their business ideas, as well as their commitment level. They are (in alphabetical order):
 
  1. Anubhuti Samiti (India)
  2. China House (China)
  3. HomePal (Singapore and China)
  4. LeLao (Laos)
  5. ReservoAir (Indonesia)
  6. Rumah Briket (Indonesia)
 
Each team was awarded funding of up to S$20,000 to launch or scale up their social enterprises. A mentor will be assigned to guide them on how to use the funds and to support their development for the next one-and-a-half years.
 
Mr Eric Chua, Senior Parliamentary Secretary, Singapore's Ministry of Culture, Community and Youth & Ministry of Social and Family Development, was the Guest of Honour at the event. In his speech, he applauded the determination of the teams who tackled tough problems with creativity and resilience.
 
He said: "These teams advocated for social causes they care deeply about. They presented an exciting range of ideas – from access to mental health services, to sustainable practices, educational equity, and support for vulnerable communities. Many spoke passionately on creating meaningful change in society. I am humbled by their passion in wanting to serve others, and their dedication in looking beyond immediate needs to innovate solutions for the wider community. This is no easy feat."
 
Mr Lai Hoi Bing, co-founder of Homepal from Singapore, said: "YSE Global has been a positive and enriching experience like no other. The business clinics and training workshops have provided my team with relevant skills and knowledge such as the use of the social enterprise business model canvas tool to refine our go-to-market strategy and social impact calculation. We hope to apply these new learnings to propel our social enterprise to the next level. We look forward to scaling up our social enterprise with the grant." HomePal is a social enterprise from Singapore and China that supports the elderly through the development of an Internet of Things (IoT) system using privacy-preserving home monitoring and safety solutions.
 
Ms Manithip Vongphachanh, co-founder of LeLao from Laos, was inspired by other YSE Global teams. She said: "The programme introduced me to a global network of like-minded peers who are doing amazing work to make a positive difference for the society. My favourite part of the programme was when we exchanged ideas and learned new facts about our respective communities. I felt less alone and more inspired to keep pursuing our work in empowering vulnerable communities through eco fashion." LeLao's employees produce affordable and sustainable fashion products recycled from fabric waste and the products are designed to showcase the rich cultural heritage of Laos.
 
The YSE Global Programme seeks to inspire, equip, and enable youth of different nationalities to launch or scale up their social enterprises in Singapore and beyond. The programme is chronicled on social media with the hashtag #sifyse.

HomeLane Achieves Cash Profitability at Rs. 700 Cr Revenue ARR

Wednesday 22 November 2023 06:30 AM UTC+00
Business Wire India

HomeLane, India's premier home interiors brand, announced that it has turned cash-positive for September and October 2023. HomeLane is one of the few companies in the home interiors domain to have achieved this important milestone.

HomeLane is now on track to not only sustain its cash-positive status but also grow 30% YoY in FY24. Srikanth Iyer and Tanuj Choudhry, the founders of HomeLane, jointly stated, "Achieving cash profitability gives us the independence to think long-term and take decisions accordingly. We are incredibly proud of our team's relentless efforts and are thrilled to set our next milestone of reaching EBITDA profitability in FY24."

In an ambitious push, HomeLane is also set to surpass 1000 Cr in Order Book and aims for 700 Cr+ in Revenue in FY24. This growth ambition is driven by the company's scale-up initiatives within existing markets.

IQ Option: 10 Years of the Ultimate Trading Experience

Wednesday 22 November 2023 10:37 AM UTC+00
Business Wire India

IQ Option, a leading online trading platform, proudly commemorates its 10th anniversary, celebrating its remarkable journey of constant evolution and success. Over the last decade, IQ Option has played a role in transforming the trading landscape, taking operations to a truly global level with a special focus on Latin America, Thailand, and Indonesia.
 
The company expresses its appreciation of its loyal community of traders who have been instrumental in its growth. The lively and supportive trading community has been rapidly growing since 2013 and now has 40M+ members from all over the world.
 
The platform has come a long way in the world of online trading since its founding in 2013. Over the years, the platform has undergone numerous enhancements to provide traders with a superior experience. These improvements include:
 
  • Traderoom and User Experience Enhancements: IQ Option has consistently worked on streamlining the traderoom interface, expanding the trading toolset, and increasing the available assets to an impressive 300. The platform has also enriched its offerings with educational materials, courses, and webinars to empower traders with knowledge. The introduction of trading tournaments adds a competitive edge for users. Moreover, the inclusion of cryptocurrencies as tradable assets has opened up new opportunities for traders.
  • Multilingual 24/7 Support: IQ Option has made customer support accessible to traders worldwide by having specialists who speak multiple languages, including English, Portuguese, Spanish, French, Italian, Thai, Arabic, and more. The 24/7 support ensures that traders receive assistance whenever they need it.
  • Rapid Withdrawal System: The introduction of the rapid withdrawal system is a testament to IQ Option's commitment to trader satisfaction. This system allows the company to process 68% of withdrawal requests immediately, ensuring that traders have quick and efficient access to their funds.
 
IQ Option's relentless pursuit of excellence has been recognized with 22 different awards, including the "Excellence In Forex Trading Platform Global" award from Global Business Review (2022), "Best Trading Platform" from FX Daily Info (2022), "Fastest-Growing Online Broker in Asia" from International Business Magazine (2022), and "Best Trading Experience" from WorldForexAward (2022). These accolades reflect the platform's dedication to providing a world-class trading experience.
 
Over the years, IQ Option has expanded its payment options and ensured mobile compatibility, introducing and enhancing the IQ Option app to meet the needs of traders who prefer to trade on the go.
 
Understanding that every trader is unique, IQ Option has introduced niche account types to cater to individual trader requirements, including Islamic accounts.
 
In addition to its trading endeavors, IQ Option has been actively involved in sponsoring various sports events, showcasing its commitment to sportsmanship and teamwork. Some notable collaborations include Red Bull Racing in 2018, and the CS-GO Latin America Cup in 2021.
 
Looking ahead, IQ Option reaffirms its dedication to continuous improvement, vowing to work hand in hand with its community of traders to provide new and exciting updates in the near future. The platform's commitment to enhancing the trading experience remains unwavering as it embarks on the next decade of trading excellence.
 
IQ Option expresses its sincere gratitude to its loyal community of traders, without whom this remarkable journey would not have been possible.
Business Wire India

Reebok, a global leader in athletic footwear and apparel from the house of Aditya Birla Fashion and Retail Ltd., is excited to announce the grand opening of its new flagship store in Kammanahalli, Bengaluru. This exclusive brand outlet is set to bring the best of athletic and lifestyle wear to the dynamic city, offering a curated collection for fitness enthusiasts and fashion-forward individuals alike.

The store was inaugurated by accomplished field athlete and Olympian O.P. Jaisha. Known for her remarkable achievements and dedication to the world of sports, Jaisha represents the spirit of Reebok's commitment to excellence, making her the perfect guest for this momentous occasion.

The newly designed Reebok store aims to provide a distinctive shopping experience, featuring a layout that improves customer convenience and facilitates effortless navigation. Customers can anticipate discovering a variety of footwear, clothing, and accessories tailored to meet all their fitness requirements.

Manoj Juneja, CEO, Reebok, expressed his enthusiasm on the new store opening, stating, "We are delighted to bring Reebok's innovative and high-performance products to the heart of Bengaluru through our new store in Kammanahalli. This marks another milestone in our commitment to providing the best in athletic and lifestyle wear to our customers. We are delighted to have the august presence of O.P. Jaisha for the grand opening among us."

Speaking on the inauguration, O.P. Jaisha said "I practised early days of athletics in Reebok shoes, I am privileged to be a part of this occasion. The collection of shoes and apparel is very extensive and designed very thoughtfully for all fitness activities."

Reebok's Kammanahalli store opening is part of ABFRL's ongoing efforts to expand the brand's retail footprint and bring world-class products to consumers across India. The company remains committed to providing an unparalleled shopping experience and staying at the forefront of the evolving fashion and retail landscape especially in the sports & athleisure segment.

The long-awaited entry of Reebok into the Kammanahalli cluster has generated significant excitement, with the newly established store poised to emerge as a hub for fitness-conscious residents in the city. Through the fusion of fitness and modern fashion, Reebok remains at the forefront of shaping India's fitness culture.

The School of Meaningful Experiences Expands Leadership Team

Wednesday 22 November 2023 12:38 PM UTC+00
Business Wire India

The School of Meaningful Experiences (SoME), a Bengaluru-based organisation delivering transformative Communication and Professional Effectiveness programmes, announced the expansion of its leadership team with two new appointments. Srinivas Evani joins as the Chief Revenue Officer (CRO) and BM Narayan as the Chief Governance Officer (CGO).

Srinivas, a strategy execution specialist, comes with 25+ years of rich experience in leadership roles in the training, development and other industries. As the former director at El-NET 3L, a distance education project of IIT Kharagpur, his contribution to the company's growth, particularly in the southern states, has been exemplary. Prior to joining SoME, Srinivas was the Vice President at Franklin Covey, and bagged some of the biggest business deals in Bengaluru and Hyderabad. At SoME, he will be leading the company's strategy for profitable growth and exploring new market opportunities to drive constant evolution.

Narayan's professional journey, spanning nearly four decades, comprises diverse roles in manufacturing, project management, sales and marketing, customer service, business development, and business management functions. In his new role, Narayan will strengthen SoME's operations and streamline processes, empowering the company to realise its full potential in the dynamic market.

Commenting on the expansion of SoME's leadership team, Rakesh Godhwani, Founder and CEO, SoME, said, "We are thrilled to welcome Srinivas and Narayan to the team. When you have the finest minds with exceptional expertise and remarkable leadership experience, join an organisation, you know that the business is well poised for the next phase of growth. At SoME, we aim to help individuals become more confident, learn persuasive communication skills, and be more collaborative. We are committed to creating confident communicators who embrace continuous learning to drive growth – in their professional and personal domains."

"In today's modern corporate world, communication skills are more critical than ever, and we are witnessing an unprecedented surge in the demand for these frequently undervalued skills. As a pioneer in this field, I am confident SoME will create a revolution. And I am looking forward to being a part of this meaningful journey," said Srinivas.

Since its inception in 2018, SoME has delivered numerous transformative and impactful programmes. Based on the organisation's unique 'Six Cs' philosophy, these programmes empower learners with critical professional skills, namely Communication, Confidence, Collaboration, Curiosity, Competence and Creativity.
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