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February 2012

Sivarajan named Microsoft MVP

Santhosh Sivarajan has received the Microsoft Most Valuable Professional award for the second year in a row for his exceptional contributions to the technical community. The Microsoft Most Valuable Professional is the highest award given by Microsoft to those it considers the best and brightest from technology communities around the world who actively share their technical expertise with the community and with Microsoft.


Breaking News
‘Innovation is India’s future’

U.S.-India Business Council President Ron Somers gave the inaugural keynote at Bangalore INDIA BIO on Feb. 6. The event featured India’s Union Minister for Health, Ghulam Nabi Azad; the Chief Minister for the State of Karnataka, D.V. Sadananda Gowda; Karnataka's Minister for Science & Technology, Dr. V.S. Acharya; and Biocon’s Kiran Mazumdar-Shaw. The conclave in Karnataka’s capital city of Bangalore drew an audience of over 400 delegates from 250 of the top global biotech companies.



Aereo gets $20.5M funding

Aereo, a new Internet based television solution for consumers, announced $20.5 million in a additional first round of funding from IAC. Previous investors, including FirstMark Capital, First Round Capital, High Line Venture Partners, Highland Capital Partners and select individuals, participated in the round, bringing Aereo’s total funding to approximately $25 million.



Akorn buys Indian drug company

Akorn Inc., a Decatur, Ill.-based publicly traded generic pharmaceutical company, has acquired Kilitch Drugs India Ltd. and parts of NBZ Pharma Ltd. through its India subsidiary Akorn India Pvt. Ltd. Kilitch Drugs is a contract manufacturer of sterile injectables in India.



Bhagwat to head Affinova’s financial services practice

The Waltham, Mass.-based Affinnova, Inc., a marketing innovation software and services company, is expanding its reach in the financial services industry and appointed Sarita Bhagwat to direct the company's financial services practice. Bhagwat will focus on delivering Affinnova's evolutionary optimization and innovation services specifically tailored for financial companies.



Freelancer.com launches in India

Freelancer.com, an outsourcing and crowdsourcing marketplace, launched in India with www.freelancer.in. Chief Executive Matt Barrie, in New Delhi for the launch, said at the press conference, "India is critical to our success. Over 1.2 million of 3 million plus users on our site come from India, making them number one by nationality, and the second largest user demographic in our global marketplace. We are pleased to now launch Freelancer.in to provide better features and support for India."



GenNx360 Capital Partners forms India firm

GenNx360 Capital Partners has formed GenNx360 India Advisors Pvt. Ltd. The new entity will operate out of two offices located in Gurgaon and Bangalore, India. In addition to keeping GenNx360’s hand on the pulse of the global economy, this strategic move provides the firm with a truly global footprint, establishing a presence in both India and Asia, the company said.



Genpact IT Help Desk in Dollar General stores

Genpact Ltd., a New York-based business process and technology management company, has installed its IT Help Desk production support services at 9,800 Dollar General stores in North America. Services provided include providing technical and customer relations support to the more than 90,000 store employees.



Honeywell opens India center, to invest $34M

Honeywell International has opened a new technology center in India and plans to invest $34 million into its development. According to the company, the center will further expand its technology development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technologies and applications.



India sees 52 percent rise in clean energy investments in 2011

According to RenewableEnergyWorld.com, India saw an increase of 52 percent in clean energy investments in 2011 for a total of $10 billion. The country also added approximately 3 gigawatts of wind energy capacity in 2011.



Khosla invests in Nu-Tek Salt

Khosla Ventures has made a significant investment in Nu-Tek Salt LLC, a Minnetonka, Minn.-based company that offers a potassium chloride product to meet the growing demand for reduced sodium in the food industry, according to the firm.



Krossover closes angel funding at $3.5M

Krossover, a maker of a data analytics system for high school and college sports programs, raised $3.5 million in angel funding in 2011, according to the company. The new funding brings Krossover’s total capital raised to approximately $4 million since 2009.



Manhattan Software signs deal with Indiabulls

The Milford, Mass.-based Manhattan Software, a business real estate software company, has signed a deal with Indiabulls Real Estate to launch its products in India and the Middle East. Indiabulls Real Estate is one of the largest real estate companies in India with development projects including high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, state of the art special economic zones and infrastructure development. 



Merck Serono Ventures backs Auxogyn

Auxogyn, Inc., a privately-held company focused on advancing women's reproductive health, has closed its first round of funding for a total of $20 million. Initial funding started in May 2010 and investors in the round include Kleiner Perkins Caufield and Byers, TPG Biotech and Merck Serono Ventures.



Norwest invests $15M into India’s Manthan Systems

Norwest Venture Partners has invested $15 million in Bangalore-based Manthan Systems, a provider of business intelligence and analytics products for the retail and consumer packaged goods industries. Manthan's suite of analytics products has radically transformed the way retailers adopt, deploy and employ analytics — its retail analytics product, ARC, has a direct impact on profitability and growth, which has led to its adoption by leading retailers in 20 countries worldwide, according to the company.



Paddle8 gets VC funding

Online art market Paddle8 has received investment from the Founder Collective, an early-stage venture capital fund. The investment is led by David Frankel who joins the board of Paddle8. Joining the investment round is Mousse Partners, a private investment firm affiliated with a luxury goods company.



Silicon Image opens Hyderabad center

Silicon Image, a provider of wireless and wired HD connectivity products, has opened a new research and development center in Hyderabad, India. The facility, located in Hyderabad's technology hub, focuses on the design and development of semiconductor and IP core technologies for implementation in mobile, wireless and consumer electronics products from manufacturers across the globe, the company said.



Summit Partners expands to India with Mumbai office

Summit Partners has opened a new office in Mumbai. The firm said it is opening the office to increase investment activity in India and to support its North American and European-based portfolio companies with their expansion efforts in the region.



Thomson Reuters buys RedEgg

Thomson Reuters has acquired the business and operations of RedEgg, a provider of media intelligence products for public relations and marketing professionals. The acquisition builds on an existing relationship with RedEgg whose MyMediaInfo media contact database and MyNewsBrief service are already available to Thomson ONE Public Relations and Thomson Reuters InPublic customers, the company said.



Tranzyme Pharma collects $9.3M in financing

Publicly traded Tranzyme Pharma has received an additional net $9.3 million in term loan proceeds through an amendment and restatement of its existing debt financing facility with Oxford Finance LLC and Horizon Technology Finance Corp.



USIBC launches financial services executive mission to India

The India Business Council financial services member companies today met with Securities and Exchange Board of India Chairman U.K. Sinha to discuss cross-border cooperation and a commitment to two-way investment. The interaction is part of a weeklong Financial Services Executive Mission to India which will convene select meetings with key government officials in New Delhi and Mumbai. They will explore ways to develop strategies on next steps in capital markets development and financial inclusion. The mission will also participate in roundtable discussions on key policy issues with Indian stakeholders, including FICCI and CII.



Featured
Asian Indians support Romney in primaries, President Obama for reelection


 
The results of a national opinion poll of Asian Indians released today by INE Media Inc., the publisher of IndUS Business Journal and INDIA New England, showed that former Massachusetts Gov. Mitt Romney leads his nearest rivals Rep. Ron Paul, R-Texas, by 24.1 percentage points and former U.S. Sen. Rick Santorum from Pennsylvania by 33.4 percentage points. However, the poll also found that if the presidential elections were held today, an overwhelming 80 percent of Asian Indians would vote for President Barack Obama. 


India hesitates on FDI in retail sector
 
Opening the Indian doors for foreign direct investment in the retail sector was one of the most widely debated issues in Indian economic and political scenario in 2011, as the decision to allow it was dramatically put on hold by the United Progressive Alliance government.

In recent times, India has been a target of foreign investment due to its sheer market size and its capability to sustain and grow even during global economic hardship. Foreign direct investment has proved to be successful in the sectors of finance, telecom, housing and real estate, construction and power, which have fetched the maximum inflow of FDI in India.


Indian grad student helps find master memory gene

When a person experiences a new event, the brain encodes a memory of it by altering the connections between neurons, which requires turning on many genes in those neurons. Now, MIT neuroscientists have identified what may be a master gene that controls this complex process.

The findings, described in the Dec. 23 issue of “Science,” not only reveal some of the molecular underpinnings of memory formation -- they may also help neuroscientists pinpoint the exact locations of memories in the brain.


Turner Construction to spearhead $2.5B in Indian real estate

New York’s Turner Construction Co., London’s Acropolis Capital Group and India’s Sahara Prime City Ltd. joins forces in Sahara Turner Construction Ltd. and plan to develop and construct multiple townships across India to the tune of $2.5 billion over the next five years. The partnership will be managed by Turner and the company will provide construction services and lead in the development of townships. Turner also said that, over time, it will serve clients in other markets such as infrastructure, health care and hospitality.


Sub Featured
Ambassador Rao addresses college crowd

Indian Ambassador to the United States Nirupama Rao spoke to a packed house at Emmanuel College in Boston on Feb. 15 telling the crowd that India's booming growth in the last decade has given it a new place in the world order — a role which it fully intends to shoulder and uphold. Rao spoke on a number of topics from the growth of India's middle class to its relationship with China, Pakistan and Iran, as well as its growing economic partnership with the United States.


Banerji joins Foundation Capital

Anamitra Banerji has joined Foundation Capital as an "Entrepreneur in Residence." Banerji, a former Twitter product manager, comes to Foundation Capital with strong experience in advertising and social media from his previous work at Twitter, Overture and Yahoo, the firm said.



Challa honored by Richmond Bar Association

Lakshmi Challa, managing partner and owner of the Challa Law Offices, is the 2011-2012 recipient of the John C. Kenny Pro Bono Award from the Richmond Bar Association. The award is presented annually to an individual or law firm that demonstrates a dedication to furthering the delivery of pro bono legal services to the poor and underserved in the Richmond Metro area. 


Fidelity invests $40.6 million into India's Aptuit Laurus
Fidelity Growth Partners, the private equity arm of Fidelity Worldwide Investment, along with existing investors have invested $40.6 million in India’s Aptuit Laurus Pvt. Ltd., Aptuit Laurus is a manufacturer of active pharmaceutical ingredients for anti-retroviral, oncological and nutraceutical products.


Fixing 'broken' health-care system

Most doctors you talk to will tell you they got into the profession because they wanted to help people and make a difference in lives. Dr. Apurv Gupta is no different — the only hook for him is that he wants to heal a lot of people at once by dedicating his career to fixing what is "broken" in health care. His cause is not a patient-by-patient approach, but more of a hospital-by-hospital approach and he has set up his company the Physician Performance Improvement Institute to do just that.


GE Global Research develops new thermal imaging technology

Taking heat detection to a new level of sensitivity and speed, a team of scientists at GE Global Research -- including Yogen Utturkar -- have unveiled a new bio-inspired nanostructured system that can outperform thermal imaging devices available today. This discovery adds to a growing list of new capabilities that GE researchers have developed through their studies of Morpho butterfly wings, the company said.


Harman head talks AIF honors, A.R. Rahman deal

Dinesh Paliwal, president, chairman and chief executive officer of audio-giant Harman, was recently honored by the American India Foundation for his corporate leadership efforts, but for him it is all in a days work and if his business efforts contribute in some way to a global economy of values like those AIF reflects he will be more than satisfied.


Harvard dean honored by INDIA New England
 
Nitin Nohria, dean of Harvard Business School, has been selected as the 2012 INDIA New England Person of the Year.

The Person of the Year award is a new honor bestowed by INDIA New England and follows closely on the heels of the newspaper’s first ever “50 Most Influential People” list, which was released in the November edition. Nohria was also honored on this list and rose above his fellow honorees to be tabbed as “Person of the Year” for his work with Harvard in 2011.


Improving health for the winter season

In this article, I’ll be sharing with you the Winter Regimen or Ritu (Season) charya (activities or regimen) for the winter season. 

Ancient treatises of Ayurved, describe two subjects (besides others) that are distinctly unique to this science -- one is Dinacharya or the Daily Regimen, and the other is Ritucharya or the Seasonal Regimen.


India's foreign secretary addresses Washington
The Foreign Secretary of India, Ranjan Mathai, spoke on Feb. 6 at the Center for Strategic and International Studies in Washington D.C. Mathai addressed his country’s relationship with India in a talk titled, “Building on Convergences: Deepening India-U.S. Strategic Partnership.” The text of his speech follow.


Insomnia is a common problem, but it has some simple solutions

Do you have trouble falling asleep at night, or staying asleep once you do fall asleep? If so, you are not alone. Millions of Americans suffer from some form of sleep disorder.

According to the USA Today, about 40 million Americans suffer from insomnia and an additional 30 million have intermittent sleep disorder. One in three individuals has periods of insomnia and one in 20 has persistent insomnia. This costs our economy more than $20 billion each year.


Krishna named director at Deloitte & Touche

Dilip Krishna has joined Deloitte & Touche LLP as a director in the firm’s New York office. Krishna, skilled in risk information architecture and data management, has a deep understanding of the business and risk management process, including 20 years of experience serving the financial services industry, the firm said. 


Magma bought by Synopsys for $523M

Magma Design Automation Inc., a chip design software company started by Rajeev Madhavan, was bought by Synopsys Inc., a maker of software for the design, verification and manufacture of electronic components and systems, for $523 million in cash. Madhavan will not be joining Synopsys, but will help with the transition as Magma is integrated into Synopsys.


McCormick's annual report scented with garam masala

McCormick & Co. Inc., a manufacturer and distributor of spices, seasoning mixes and condiments, has published its annual report with the scent of garam masala. Over the years, investors have been led to McCormick’s annual report, by following the smell of nutmeg, cardamom, and cinnamon among others. McCormick produces the only scented annual report and has been doing so for more than 30 years. 


Moghe named new TiE-Boston president

Prat Moghe has been named the new president of the Boston chapter of The Indus Entrepreneurs. In this role, he will be responsible for the overall vision and direction of TiE’s mission of fostering entrepreneurship for the growing organization, the organization said.


Nivio raises $21 million

Nivio has secured $21 million in funding, hot on the heels of its U.S. launch at Macworld|iWorld. The investment will support nivio’s mission to bring the magic back to computing, by expanding engineering efforts in nivio’s Palo Alto, Calif., office and further roll-out of the cloud platform across nivio’s operating regions in Europe, Middle East, India and Australia, the company said.


OVGuide acquires Live Matrix; Sanjay Reddy named CEO

OVGuide, an up-to-date guide to online video, has bought Live Matrix, a guide to live and scheduled events. As part of the deal, OVGuide named Live Matrix co-founder and CEO Sanjay Reddy its new CEO. The combined offering creates the definitive online guide to on-demand and scheduled video content, the company said.


Par Pharma buys India's Edict for $20.5M

Par Pharmaceutical Companies Inc., a New York Stock Exchange company, has completed the acquisition of privately-held Edict Pharmaceuticals Pvt. Ltd., an India-based developer and manufacturer of generic pharmaceuticals, for $20.5 million.

Edict is a Chennai, India-based developer and manufacturer of solid oral dosage generic pharmaceuticals with a research and development team and 11 products filed with the U.S. FDA.


Personnel File

Sheela Murthy has joined the board of directors of Cancer Treatment Centers of America, Eastern Regional Medical Center. Cancer Treatment Centers of America is committed to helping people overcome cancer through integrative and compassionate cancer care. The CTCA mission is to heal the whole person, improve quality of life, and restore hope.

 


Quiznos names Agadi chairman of board

Sandwich chain Quiznos has named Harsha V. Agadi as executive chairman of its board of managers. Agadi has more than 25 years' experience with food service companies, having worked with Domino's Pizza, Pepsi, Kraft, General Foods, Little Caesars Enterprises, Church's Chicken, and most recently, Friendly's Ice Cream Co. 


Saffron Road launches four new veggie items

Saffron Road has debuted its newest products at Whole Foods Market stores. All the items are all-natural, Halal-certified, vegetarian entrees and side dishes, according to Saffron Road, which is the packaged food brand of Stamford, Conn.-based American Halal Co.


SikhNet releases video game for Sikh, Punjabi kids
 
SikhNet has launched an interactive video game designed to appeal to, and inspire Punjabi and Sikh youth around the world, according to the company. “Karma Game -- The Ogre’s Curse” is a decision-making adventure game that teaches spiritual values and Punjabi culture. It is illustrated and narrated with the same high quality expected from commercial video games.


Singh named senior VP at Comcast

Inder M. Singh has joined Comcast Cable, a provider of entertainment, information and communications products and services, as senior vice president of finance and strategic planning. In this role, Singh is responsible for Comcast Cable’s forecasting, strategy, business trends, and long-range plan preparation, as well as business intelligence and financial support for all product groups.


Skystream Markets nabs investment
Skystream Markets Inc., a provider of institutional transaction platforms for the renewable energy markets, has received an investment from a group that includes Connecticut Innovations, Ironwood Capital Connecticut’s Connecticut Growth Fund and the Clean Energy Venture Group. The investment syndicate also includes several accomplished angel investors from the financial technology and trading spheres. The company will also relocate its headquarters from New York City to Stamford, Conn.


South Asians shifting their view of 'American Dream'

According to the fifth annual MetLife Study of the American Dream, South Asian Americans show a slight shift in their view of the “American Dream.” This compares to a clear emergence of a less traditional and more personalized definition of the Dream among the general population. And while South Asian Americans remain far more confident about achieving the Dream than most Americans, pessimism is starting to creep in. 


The Iran situation -- what to do?
 
Iran wants to produce electricity using nuclear technology and that is its right as a sovereign nation. No one is trying to deny Iran that right, but the way it is going about achieving it as a non-proliferation treaty signatory, is a cause of great concern for the entire world, and especially Israel, whose very existence is at stake.


U.S. schools sign deal for plastics education in India

India’s top plastics trade association, Plastindia Foundation, has signed a deal with the University of Massachusetts-Lowell and the University of Wisconsin to build a university specializing in the study of polymers in India, according to Plastics News.










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