Business Goa November 2022

Malcolm Dsouza and Rohin Parkar’s startup, Spintly has recently raised $2.5 million in pre-Series A round of funding. The startup works with AI and IoT to help improve workplace efficiency and build a contactless future

Finance Planning

Cover Story

Malcolm Dsouza and Rohin Parkar’s startup, Spintly has recently raised $2.5 million in pre-Series A round of funding. The startup works with AI and IoT to help improve workplace efficiency and build a contactless future

Focus Goa: MOPA Airport

Focus Goa: IFFI 2022

Goa gears up to celebrate IFFI 2022 which showcases the best of cinema; Swetika Sachan, CEO, Entertainment Society of Goa goes to elaborate on Goa being the entertainment capital of India

Interview

Wellness

Feeling like you need a nice romantic date out with your mane? Snip Salon and Spa has got the perfect solution: Kérastase Fusio-Dose

Professional Dossier

Chief Minister of Goa, Dr Pramod Sawant speaks to Business Goa in the backdrop of the 53rd International Film Festival of India (IFFI), and shares his thoughts on Goa being an entertainment destination Senior Advocate Anarkali Agni highlights her journey as a lawyer and enjoying her practice in present times

Bon Appétit

Invest Right

Women And Health

Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

EDITORIAL

MSMEs in trouble with increase in Repo Rate

The Reserve Bank of India has hiked the key short-term lending rate (repo rate) four times by a total of 190 basis points in four tranches, since May this year. It appears that the central bank is cracking under pressure and pressing the panic button in a bid to placate the unprecedented levels of inflation.

The repo rate is the rate at which the RBI loans money to commercial banks, and at which all savings and lending rates are benchmarked. As the central bank increases this, banks, too, raise the rate at which they lend funds and accept deposits.

In September 2019, the banking policy changed, impacting micro, small and medium enterprises in their borrowing perspective. The MSMEs till then were borrowing loans at a rate set according to the bank’s marginal cost of loans – the minimum lending rate – will now borrow at a rate linked directly to the repo rate. In simple terms, these small businesses will see the interest on their loans rise, or fall, instantly with every change in the repo rate by the central bank. As of December 2021, 69.2 percent of outstanding loans to MSMEs were priced at a rate linked to the repo rate, as compared with 1.8 percent at the time of the rule change

In the lending pie, MSMEs have the largest share of loans to be linked to the repo rate so closely. With every increase in repo rate, an unprecedented weight is added in form of interest payable, making MSMEs more vulnerable to a debt trap. The sector employs nearly 120 million people and contributes around 30% to the GDP – and the change in interest rate will adversely impact the working capital borrowings of these small businesses.

MSMEs have been battling the scourge of the pandemic and now the Russia-Ukraine war and other geo-political issues, which have made the cost of raw material skyrocket, while profit margins have been reducing. In fact, it is to the credit of India’s micro entrepreneurs who have braved an ocean of challenges – demonetisation, pandemic and now the spiralling of repo rates,

not to mention the added compliances (like GST) that they have to been subjected to. High input costs and weakness in demand have led to operational challenges for MSMEs, as profit margins have been depleting.

A report released by State Bank of India in June this year, after the first repo rate hike said that the 40 bps rise will increase the interest costs of MSMEs by 54.41 billion rupees ($685m) while another 75 bps rise would raise the interest costs of both the MSME and the personal loan segment by 231.14 billion rupees ($2.91bn).

All major banks have increased their external benchmark-based lending rates (EBLRs) by 190 basis points along with the hike in the RBI’s policy repo rate since May this year, though they have been slow in raising the deposit rates.

India Inc has already begun to begun to feel the adverse impact of RBI’s interest rate hikes of 190 basis points in the current financial year, and CII has petitioned the central bank to consider moderating the pace of its monetary tightening ahead of the forthcoming policy.

CII’s study of results of 2,000-odd companies in the second quarter (July-September 2022) shows that both the top-line and bottom-line has moderated on sequential and annual basis. Thus, moderation in pace of monetary tightening is the need of the hour, says CII. “Given the headwinds to domestic growth mainly emanating from the global uncertainties, the RBI should consider moderating the pace of its monetary tightening from the earlier 50 basis points,” CII has argued.

All eyes are now on the rate-setting Monetary Policy Committee (MPC) of the RBI, which will announce its interest rate decision in the first week of December.

Market watchers have been painting a gloomy picture on whether the MSMEs will be able to service loans that were availed in the last two to three years, in the wake of the increase in repo rate. The industry hopes to get the relief that it deserves to effectuate a bounce-back to stay in the reckoning and more importantly, survive this crisis

Printed, published and owned by Harshvardhan V. Bhatkuly and printed at Elegant Offset Printers, D2-31, Tivim Industrial Estate, Karaswada, Mapusa Goa 403526 and published at 409, Citicentre, EDC Patto Plaza, Panaji, Goa 403001. Editor: Harshvardhan V. Bhatkuly

Harshvardhan Bhatkuly

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CM urges corporates to give 1% of proceeds to government under CSR

Export Duty on Low Grade Iron Ore scrapped

Chief Minister Dr Pramod Sawant urged corporates having operations in Goa to give 1 per cent of their proceeds to the Goa government under the Corporate Social Responsibility (CSR) before the government starts verification of their contribution.

He was speaking after handing over 100 twowheelers to the Goa Police Department by the Hero Moto Corp Ltd under its CSR activity. Dr Sawant said that the motorcycles and scooters will soon have Goa Police badge

and fitted with GPS for tracking the movement of the police all time. While speaking on the CSR activity, Dr Sawant said, “During pandemic, we had to request many establishments to contribute to the government and people under CSR fund. There are many pharmaceutical and other companies in Goa making crores in proceeds. But they are not spending even 1 per cent of their proceeds in the State under CSR”.

“Government is ready to give freedom/choice to the companies to lend CSR for the sector of their choice like healthcare, education and others. The companies are requested to go through the CSR Authority of the Goa government before the authority starts verification of companies,” he added. He further stated that the CSR Authority will give companies a certification for their contribution

India scrapped the export duty levied on low grade iron ore lumps (below 58% iron content), reversing an earlier order from May 2022, when it had raised the duty to 50% in order to control inflation.

In the same notification, the government also removed export tax on certain steel intermediaries from 15% which were also imposed in May. New Delhi also lowered the export tax on iron ore and concentrates other than roasted pyrites to 30% from 50%. Due to higher export taxes, India’s iron ore exports had touched almost zero last month and was further expected to drop

due to lower demands from China. Producers of low grade iron ore are highly dependent on overseas markets, as high grade iron ore is consumed by domestic steel producers.

High export tax on intermediate steel products affects shipments adversely. India’s finished steel exports more than halved during the first seven months of the financial year beginning April 2022.

JSW Steel Ltd, India’s largest steelmaker by capacity, stated that it expects its exports to fall over a five-year low in 2022-23 due to reduced global demand and a high export rate

Goa invites bids to set up charging stations for green vehicles

Ramkrishna

A generic antiviral drug named Umifenovir has been developed to treat covid-19 by premiere government drug research laboratory the Council for Scientific and Industrial Research-Central Drug Research Institute (CSIR-CDRI), Lucknow, in collaboration with Medizest Pvt Ltd, Goa. This drug is currently undergoing largescale, multicentric Phase 3 clinical trials. The trials are expected to be completed by the end of 2022. “After the CDRI had devised the molecules required to treat the disease, we were looking for an industrial partner to manufacture the drug, at that time one of the companies which came forward was Medizest from Goa,” Dr Ravishankar Ramachandran, the nodal scientist and Project Team Lead at CSIR-CDRI said.

Dr Ramachandran was speaking on the sidelines of the two-day International Drug Discovery Conference inaugurated at BITS Pilani Goa

Campus. He said that the covid outbreak was an emergency situation in the country and the lab started contacting pharma companies to partner with it to bring out the medicine into the market at the earliest. The senior scientist said that a smaller company has more hunger and flexibility in its functioning.

Speaking about the drug, he informed that Umifenovir was selected from a list of 16 candidates after a detailed evaluation of the mechanism of action, feasibility of synthesis and published safety studies.

“Following approval by the Drug Controller General of India (DCGI), Umifenovir was tested in a Phase III, randomised, double-blind, placebo controlled clinical trial for efficacy, safety and tolerability in non-severe covid-19 patients last year,” he said. Further, he stated that faster recovery of patients could reduce virus shedding and consequent spread of the infection to others. “The drug

said that tender inviting bids to set up charging stations for green vehicles will be floated within a month as the process for the same has been started. The problem faced by motorists having electric vehicles with there not being sufficient charging stations in the state, he said would be taken care of if these were set up at three kilometer intervals. Subsequently, the extra charging stations will also be helpful when electric buses and heavy duty vehicles become the norm, he said. Stating that many people have purchased electric vehicles, including his Department, he said those who have to travel short distances should buy electric vehicles. He added that the subsidy scheme for e-vehicles will not

could also be tested in special populations such as pregnant women and children, a group for which covid-19 specific antiviral drugs are not currently

be stopped. An allocation of `15 crores was made in the budget speech by the Chief Minister for the subsidy and out of this `7 crores is yet to be disbursed. He added that more power charging stations have to be set up across the state. With Goa being a small state, bigger companies were unwilling to invest in the state. To overcome the hurdle, the state will offer locals the opportunity to invest in and set up charging stations as was done in the case of units to issue pollution under control (PUC) certificates

indicated.

The current ongoing Phase 3 will help establish the efficacy and safety of the drug in a larger number of subjects”

Upcoming Covid-19 drug has Goa imprint on it

‘Sudin’ Dhavalikar, Minister for Power and Renewable Energy,

Dr Pramod Sawant

Sudin Dhavalikar

One of the best ways to lower unemployment in all societies is self-employment. The level of knowledge among people regarding expanding self-employment prospects has generally increased over the past ten years, thanks to advancements in communication technologies and numerous state government initiatives.

According to Tourism Minister Rohan Khaunte, the government is concentrating on expanding beach tourism, hinterland tourism, ecotourism, sports tourism, and agro-tourism with the goal of improving the prospects for self-employment. Khaunte added that two beaches in Canacona might be developed

in addition to Agonda to receive the Blue Flag designation. All Goa Private Property Shacks and Huts Owners Association members led by the organisation’s president Dharmesh Saglani, expressed concerns about potential business losses once the Mopa airport opens. They also asked

for a single window system for all licensees and NOCs needed for tourism-related business, which would otherwise take three months.

Nikhil Desai, Director of Tourism, issued a warning that all illicit tourism firms will be dealt with harshly and that political influence would not be tolerated.

Desai claimed that two beaches in Canacona are eligible for the Blue Flag designation and that Agonda, which has been ranked among the best beaches in Asia and the globe, is the perfect beach for this. According to Desai, a Blue Flag certification is significant for the state and must be achieved because the accreditation is only valid for a year

Mega Job Fair draws crowds and promises of employment

The Labour and Employment Department’s Mega Job Fair saw a lot of interest on its opening day on 8th November. According to Chief Minister Dr Pramod Sawant, almost 5500 positions from more than 150 companies/employers were up for grabs at the two-day Mega Job Fair that was held at the Dr. Shyama Prasad Mukherjee Indoor Stadium, Taleigao. The number of applicants had surpassed 19,000. The estimated unemployment rate in Goa in the month of September was up to 10.9%. The Goa Employment Exchange has over 1.4 lakh registered individuals looking for gainful employment, according to the government.

The Labour and Employment Commissioner Raju Gawas stated that companies

The Central government granted Goa `450 crores in two installments of the tax devolution to the state. The funds are provided to the state to help accelerate the capital welfare and developmental activities. The released tax devolution by the Union government that is provided to the state government amounts to `1,16,665 crore as against

conducted interviews directly and the Department has requested some to extend the offer letters at the event itself. IT, pharmaceuticals, tourism and hospitality, logistics, automotive, healthcare, banking and finance, insurance, manufacturing, sales, marketing, aviation, and cruise liners are a few of the broad industries that are hiring. About 36 of the 155 organisations that participated in the job fair are from the

normal monthly devolution of `58,333 crore in accordance to the statement issued by the Finance Ministry. Chief Minister Dr Pramod Sawant extended his gratitude to Prime Minister Narendra Modi along with the Finance Minister Nirmala Sitharaman for releasing the two installments for tax devolution.

He further thanked them

hospitality sector, including renowned establishments like IHCL (Taj Group), Grand Hyatt, Karma Royal, Holiday Inn, and Goa Marriott Resort.

Atanasio Monserrate, Minister of Labour and Employment, stated that when parents and educated unemployed kids approach him in search of employment, it hurts and disheartens him. “Youth are the pillars of society. Be flexible to take up jobs in

on twitter, “The additional resources shall enhance the government of Goa’s development.” Every year the Centre releases 14 installments of tax devolution. Therefore, it involves two months where the installments are doubled. The states of India had to decrease their capital expenditure in the first six months of the current fiscal so that they could

Niti Aayog pegs Goa’s unemployment figure at 1.1 lakh, Govt says only 20k

Chief Minister Dr Pramod Sawant claimed that the figures released by NITI Aayog on unemployment in the state are inaccurate as there are several people who have already been gainfully employed. Earlier, NITI Aayog said there are 1.10 lakh unemployed youth in Goa. The figure is not correct as 80,000 are already employed but they have not cancelled their names in the employment exchanges as they are waiting for government jobs, Dr Sawant said. “The names of some government servants also figure in the list. As per our information, only 20,000 youth are unemployed. The state government will work out a system to cancel the names of people who are already employed,” Dr Sawant added. Sawant held a meeting with NITI Aayog member Dr VK Saraswat in the presence of the state’s chief secretary and other officials. After the meeting, Dr Sawant tweeted that NITI Aayog lauded the Goa Electric Mobility Promotion policy, adoption of emerging technologies and other policies.

“The NITI Aayog elaborated on how it can support the state under State Support Mission. With enhanced coordination and advisory support from NITI the state surely can develop in multiple sectors,” the CM had further tweeted

private sector,” Monserrate advised them

accommodate a higher revenue spending.

Amidst the quarrel between the Centre and the state for more resources, the 15th Finance Commission of India chaired by NK Singh is learnt to have recommended that states get 41% of central tax revenues, the same level that it proposed in its interim report for 202021, a year ago

Government working to boost tourism to provide self employment

Rohan Khaunte

Goa receives 450 crores from Central government to accelerate capital welfare and developmental activities

Atanasio Monserrate

UNLOCKING VALUE

Spintly is using AI and IoT to help improve workplace efficiency and build a contactless future. With a recent pre-series-A round funding of $2.5 million; and top-notch customers in their bag, the startup is on its way to achieve new heights in the space

By SYBIL RODRIGUES

Internet of Things (IoT) in India is still getting adopted at a good rate at around 35% increase per year. There was about $5 billion invested in the IoT space in 2019, the IoT market is expected to be a $650 billion market by 2026. With covid-19, IoT, along with cloud technology, is enabling interesting use cases to serve the post-covid world.

Many enterprises have moved their systems like HRMS, ERP etc. to cloudbased platforms. There is a wave of other cloud platforms coming in where all traditional systems like access control, video surveillance etc. are also moving to the cloud in the coming years.

With a similar vision, Goa-based Spintly has been rigorously working towards

providing businesses access to touchless and contactless technologies, enabling the organisations to excel in the post-covid world. The future of door access is keyless and Spintly has developed technology that enables this future.

Founded in 2018, Spintly is the world’s first truly wireless mesh powered smart access control platform. The startup

focuses on providing hasslefree, touch-less, mobile-based access control and attendance management solutions for enterprise, co-working spaces and residential applications. These systems allow users to gain access to doors, gates, locks elevators, and all types of access barriers through a simple smartphone app or even the smartwatch.

Spintly was founded by

Malcolm Dsouza (left) and Rohin Parkar, founders of Spintly

Rohin Parkar and Malcolm Dsouza – friends and engineers with nearly two decades of experience in wireless and IoT technologies.

Rohin started his career as a scientist working at Bhabha Atomic Research Center in 2002. In 2005, he moved to the USA and worked there for tech giants like Motorola, Nokia and Broadcom. He was involved in developing key wireless technologies ranging from 2G to 5G and also worked on Wi-Fi and IoT technologies. Rohin returned to India in 2017 after spending 12 years in the USA with a goal of building a technology focused product company in India.

Malcolm started his career in 2002 with Tata infotech in Goa as a hardware engineer and then moved to US in 2004 to work on projects with Motorola. Malcolm worked on various aspects of wireless products and developed key expertise in firmware development and software defined radio technology. Towards 20152016 Malcolm was part of the advanced technology group at Nokia where he worked on latest technologies like 5G, NBIoT and CAT-M.

Rohin and Malcolm are strongly supported by their better halves, Vaibhavi Parkar and Joann Fernandes who also handle important functions in the company. It is a classic story of committing oneself fully to a cause and working as a team to achieve a common dream.

Rohin and Malcolm have built Spintly ground up as a fully vertically integrated company which develops both hardware and software. They hired fresh talent from engineering colleges in Goa and trained them to be able to develop innovative IoT products.

Think Access Control Spintly identified a key gap in global access control market. The duo explains “We looked at the access control systems in offices and found that it involved a lot of wiring. Wires would get eaten up by mice, and sometimes access cards

would be lost. Customers found mobile-based access to be much more convenient, and we thought we could bring about that shift in the industry.”

The startup was incubated

at Ignite-EDC Innovation Hub, CIBA and FiiRE. It also received a seed grant of $13,100 from the government, and launched operations in August 2018. “Goa has a good startup policy, which gives financial incentives to companies like ours. The ecosystem is still new, but it is growing,” the co-founders share.

The IoT enabled Spintly Access control platform can cater to residential and commercial establishments (hotels, enterprises, tech parks, coworking spaces, co-living societies, hospitals, malls, colleges, and universities). This platform facilitates indoor and outdoor management of access points like doors, gates, boardrooms, hotel rooms, office spaces, parking lots, or any area that requires a touch-based

biometric log-in. With Spintly, the check-in and check-out process are entirely contactless. All the data collected by its hardware devices installed at access points is stored in the cloud. It can be accessed by enterprise customers through a real-time analytics dashboard and reports.

The co-founders go on to elaborate, “IoT devices collect a lot of events and data points, and identify patterns that can help facility managers. We use Machine Learning (ML) and Artificial Intelligence (AI) based models to provide insights into occupancy and space utilisation. On top of the access control system, we have built a SaaS-based analytics platform for attendance and facility management. So, enterprises can keep a track of employee movement, hotels can check room occupancy rates, etc.”

Spintly’s Flagship Products: SMACC UNO (Smart Access UNO) is one of the flagship products which get installed on each of the doors which require access control. The readers can communicate with each other over a wireless mesh network powered by Bluetooth Mesh. Users are granted access to the doors bypassing a digital key from the cloud to their smartphones. Also, users

Recently, Spintly raised $2.5 million in a pre-series-A round of funding. Those participating in this round include LetsVenture, AccelNet, SucSEED Indovation Fund, Riso Capital, Defang Technology, 91 Ventures, Kyto Technology and Life, and a few other notable angel investors and business groups

L to R: Malcolm DSouza, Joann Fernandes, Vaibhavi and Rohin Parkar

can unlock doors with their smartphones and the access logs, and history is captured in real-time.

The duo shares how this product is different from other products in the market, “We have created the world’s first BLE-mesh enabled access control platform which not only allows users to unlock doors with their smartphone but also eliminates the wired infrastructure needed for access control deployments. And that is what sets us apart from the rest of the competitors.”

According to Rohin, Spintly uses IoT as the primary enabler for the access control platform. The company uses the Bluetooth signal from the readers to form an IoT mesh network of devices to send data to the cloud. The key part of the network is the Spintly Mesh gateway. This gateway connects to the IoT Network of readers on one side and connects to the cloud on the other side.

The gateway communicates with the Spintly IoT cloud engine, which is built on AWS (Amazon Web Services). The company also uses advanced machine learning techniques to analyse occupancy patterns and provide useful insight to the customers to help them improve workforce and workplace efficiency.

Spintly has developed custom hardware which makes the BLE-mesh network robust and allows the system to work through walls and across floors. Firmware is the piece of code which resides in the hardware and is the brains of the hardware. A Bluetooth Mesh firmware has also been developed, which allows seamless communication between various nodes.

The gateway is built on a Linux platform, and it uses Bluetooth Low energy to communicate with all the devices and uses Wi-Fi or LAN to communicate with the cloud. It uses MQTT and HTTPS protocol to communicate with the cloud. Also, the cloud platform consists of the IoT engine built on the AWS

platform and the API interface, which allows the exchange of data with other applications.

Speaking on the uniqueness of their product and the competition in India and the global markets, the duo says, “Unlike other competitors, we are not using Weigand or OSDP protocol in our access control system which is entirely dependent on using wired infrastructure. At Spintly, we have created the world’s first BLE-mesh enabled Access Control Platform which sets us apart from the rest of our competitors. We see a healthy competition In India as well as the global market for our products and solution as the world is preparing to go contactless to create a safe and healthy environment.”

Conquering Challenges

Elaborating on the challenges in the market at this point of time the duo maintains that no business can grow without facing challenges. “At present, we see there is a huge demand for our products/solutions, as every customer wants to deploy contactless access control solutions at their premises to create safe and healthy work environment. One of the that challenges we are facing is being able to scale up our production

amidst supply chain issues in order to cater to customer demands.”

As a startup Spintly had its fair share of challenges. “One of the major challenges we faced was recently when covid-19 struck India and our business got adversely affected. It seemed like we had hit a wall. We gradually were able to change our messaging to a contactless system and were able to attract customer attention. But for 4-5 months going without revenues was really a difficult phase in the business. Every start-up faces these challenges of having a good cash flow so it can stay afloat towards becoming profitable. Another challenge that we face is the lack of a manufacturing ecosystem in the country due to prolonged dependency on China. So we are building that infrastructure and capability ground-up to enable us to deliver our products in the future.”

All About Teamwork

The company had primarily hired engineers straight out of college and developed their talent over the last 2-3 years. “We had to do this as the kind of skills that we needed were completely missing in India. That still remains our primary mode of hiring. We do see a

shortage of experienced talent in the software development space in Goa which we need to scale up our software platform and are looking for experienced talent to join us in other parts of the country, especially in Bangalore. But when it comes to hiring other than primary technical skills, we look for attitude and the hunger to learn.”

Further, the duo speaks highly of their team at Spintly. “At Spintly, we have an amazing team of more than 80 employees. Our entire team is passionate about learning new skills and building a product that helps improve human efficiency. Our products have been developed by a team of integrative thinkers led by visionary leaders. We firmly believe that quality and innovation does not have to come at a high cost. With this principle, Spintly aims to develop high quality, innovative and cost effective products and solutions. Our employees are inspired by the technologies they get to learn each passing day, the unbiased work culture, friendly management and much more.”

Operational Growth and Pandemic Impact

Covid-19 has had a telling impact across industries and the global economy. In Spintly’s case, the pandemic has served as a boon. Right after the pandemic hit, touch-based devices and biometric systems were not preferred, and the demand for contactless devices has hit the roof. Spintly saw a ‘10-fold’ increase in its deal sizes. Now using advanced digital methods for access control is becoming more of a norm and the demand continues to grow.

The duo reveals, “Big tech parks, major hospitality players, and manufacturing companies were interested in our solutions. Tech parks have multiple entry points, and the owners wanted to keep a track of the movement for hygiene purposes. They also enabled contact tracing features, which could chronologically track the movement within an

Users are granted access to the doors by passing a digital key from the cloud to their smartphones. Also, users can unlock doors with their smartphones and the access logs, and history is captured in real-time

area.” Hospitals and hotels were other big opportunities. We have been approached to build a contactless elevator solution. So, you don’t have to press buttons, and can control the elevator through a mobile app.”

Spintly has one lakh users on its smart access platform, which has connected over 2500 doors to the cloud and performs more than two million doors unlocks every month. It services enterprise clients like Godrej, Smartworks, Procter & Gamble, Manipal Hospitals, and other major companies.

The duo says, “Before the lockdown, we had companies with 500 employees coming to us. Now, each tech park that has approached has about 5,000 to 10,000 people. We are targeting 1million users by the end of 2023.”

The startup charges clients on a SaaS-based model for the analytics platform; it also earns from sales of its hardware device. Spintly has sold thousands of devices so far and the sales is growing rapidly.

Awards & Accolades

In February of 2022, Spintly won the Thread Group Innovation Enabler Award. Launched in 2015, the Thread Innovation Enabler Award recognizes early-stage companies from around the world, for their innovative approach to solving IoT challenges using the Thread protocol.

The award supports the creative possibilities that smaller companies can bring to the IoT ecosystem by giving

them access to the resources and network within the Thread Group.

Thread is a low-power wireless mesh networking protocol built on open and proven standards aimed at simplifying and standardising IoT solutions. The Thread Group board is represented by member from companies like Apple, Google, Amazon and others – who were involved in the selection process of this award.

Speaking on receiving the award, the duo shares, “We were super excited to receive this award, as Thread technology aligns tightly with our product and market vision for an end-toend, secure, IP-based approach for access control. This award paves the path to certification for our products’ compliance and inter-operability with the Thread protocol, which will expand Spintly’s sales pipeline. Simultaneously, we are actively collaborating within the Thread Group to develop the standard for access control.”

In 2021, Spintly also won the HDFC Bank presents Business Goa Awards 2021 as ‘StartUp of the Year’.

In April 2021, Spintly raised $650,000 in a seed round round led by Riso capital from Silicon Valley, SucSeed Indovation fund and participated by Goa-based venture accelerator Saltwater Venture Sparks, and early-stage angel investors in the US. It had earlier raised $100,000 from US-based angels.

Recently, Spintly raised $2.5 million in a pre-series-A

round of funding. Those participating in this round include LetsVenture, AccelNet, SucSEED Indovation Fund, Riso Capital, Defang Technology, 91 Ventures, Kyto Technology and Life, and a few other notable angel investors and business groups.

The funds would be utilised to scale up R&D, and accelerate customer acquisition, expansion, sales, and marketing. “We have seen a rise in demand for our products and are in the process of ramping up our production. The funds raised will also help us accelerate the product development process to meet the increased demand,” the co-founders said.

Growth Plans

Spintly is chasing global scale growth. It wants to become one of the leading players in the access control market projected to reach $85B billion by 2024. “We want to redefine this market by creating a new market category, that is our vision,” says Rohin and Malcolm.

Spintly recently expanded its team in the US by hiring John Czarnik and Daniel Thomas in Silicon Valley as part of its business development and sales team. Spintly plans to expand into new market segments like education, residential, data centers, enterprise, and government. Spintly is addressing an $80.62 billion smart buildings market which is expected to be a $328.62 billion market by 2029.

ISC News estimates the

access control market is approximately $70 billion globally evolving from wired on-premise applications to wireless cloud solutions. Capitalizing on this trend, Spintly is transforming the security industry with its fully wireless, cloud-based access management system that removes the complexity of deploying the typical hardline access control solution. Operators of co-working spaces, corporate offices, and other commercial properties can improve their customer’s experience without the cost of expensive controllers, wiring, and cabling.

“The future roadmap looks clear and luminous for us since it focuses on simplifying and bringing a great level of convenience to users. Currently, we have a presence in three countries – India, UAE and the USA.

In India, our focus has been on the south and north Indian market, and we are looking to expand our operation throughout the Indian market. Similarly, for the US market, we have started serving in the North American market and looking to capture the entire US market in the next five years. Also, we have been seeing some positive responses coming for the Middle East countries,” said the duo on a concluding note.

Looking at its trajectory, customer acquisition and growth plans, Spintly looks all set on unlocking its value and potential

Rohin with the ’Startup of the Year’ Award at the HDFC Bank presents Business Goa Awards 2021

The Spintly team is largely comprised of tech graduates from Goa and works from their offices at Fatorda, Margao

Will it be Dabolim or Mopa?

By RAGESHREE DAS

Since airplanes began flying to and from Goa, Dabolim has been the only international airport in Goa that has played an important role as the gateway that connects us with the other destinations, be it within the country itself or with the rest of the globe. The Dabolim domestic airport was constructed in 1983; the international terminal was constructed in the year 1996.

Dabolim has catered to all the services required, being the sole airport that does not only work towards blooming the tourism industry, but also plays a significant role in the hotel industry and global trade.

Mormugao being Goa’s largest port will not be dismissed for the fact that most of the trade takes place there. Hence shifting or shutting down the airport will affect the economy drastically.

The proposal of Mopa Airport was suggested as the air traffic at Dabolim increased rapidly since 2013. Dabolim being a defence airport, it will continue to function along with some of the major companies with regards to domestic flying.

With the establishment of the new airport at Mopa, it has been speculated that trade and commerce will skyrocket. “They are giving proposals. Things are in process. Certain things are approved, certain things are in process”, K.S. Rao said. He said that Kuala Lumpur, Tel Aviv, Gatwick, Bahrain, Russia, Almaty, Manchester, and Muscat have sought approvals. Prior to Mopa airport becoming functional, all national and international flights for Goa were handled at the Dabolim airport, which is also a naval base. Only 70 flights land on the Dabolim airport on a daily basis since no flight landing is allowed between 9:00 am to 2:00 pm. Following the establishment of the airport, it has been speculated that the number of flights landing will double up.

But with great successions come great challenges, as well. Along with Mopa being hailed high for its triumph in getting approval from major airlines throughout the globe; the antagonists are against it, stating that Mopa lies in the further North, which could possibly affect the chain of hotel industries that are in and around the southern coastal belt. The tourism industry plays an important role in the development of a region. Hence it becomes significant to study the growth of tourist arrivals, in particular, and hotels, in general, as they are required for effective tourism planning. By understanding the growth of tourist arrivals and hotels, the government, entrepreneurs and investors can plan their activities more effectively.

The Dabolim Airport was planned and constructed in such a way that it not only catered to the security needs of the state but also kept the other criterions in mind.

Realising the fact that, the Goa government alone spent about `3000 crores on the Zuari project that connects the major cities of Goa to Dabolim airport, giving an easier and hassle free drive to all the tourists as well as locals. The main reason this project was taken on was for the sole fact that the airport will be accessible from any part of Goa.

More recently, the debate got rekindled after Transport Minister Mauvin Godinho made a public statement that Dabolim will be shut down if it does not get competitive in its functioning and Mopa gets operational. But Godinho calibrated his statement when the opposition attacked him on his stand.

Disagreements regarding naming the Mopa Airport

The Mopa Airport is soon going to commence, yet there is a big debate on deciding a name that will not only bring glory but also highlight the significance of the new airport. Maharashtrawadi Gomantak Party suggested that, the airport should be named after Goa’s first Chief Minister Dayanand Bandodkar. As we are all aware of the great contributions he made for Goa. Bandodkar laid the foundation of a resurgent Goa in all fields of development – education, industry, tourism, agriculture, irrigation, roads, bridges and every other sphere of developmental activity benefitted from his magic touch. Thus the MGP was firm in its stand to name the airport in his honour. The current administration, on the other hand, wishes to name it in honour of either Manohar Parrikar, the former Chief Minister of Goa; Some want the airport to be named after Jack de Sequeira, the first opposition

leader of Goa; while freedom fighters want it to be named after T.B. Cunha, a renowned freedom fighter of Goa. But after long discussions, it was thus decided that they will refrain from using any names as it could hurt the sentiments of the citizens of Goa.

With doubts and uncertainty in the minds of the antagonists and oppositions, the Chief Minister made it absolutely clear that both the airports will coexist without any clashes between them. “Many have expressed concerns over whether the (Dabolim) airport will shut down. I want to assure everyone that even once Mopa airport is fully operational, Dabolim airport will not shut down (for civilian use).”

Along with the Chief Minister, Goa’s Tourism Minister, Rohan Khaunte said “Today predominately we are dependent on two markets, UK and Russia, and some parts of Europe,” This gave everyone a reason to believe that the current government is taking charge of the state’s economy which had seen drastic short comings due to the outbreak of the covid-19 pandemic. He stated that the rough estimate of the domestic tourists that visited Goa before the pandemic was about 71 Lakhs, whereas the arrival of international tourists was 9 Lakhs.

Keeping in mind the current strategies, the government will go ahead with this plan hoping for better and larger response. Hence there is no fear regarding the permanent shut down of Dabolim airport, as it will function along with Mopa airport. Instead of it

The commencement of Mopa Airport raises a huge controversy whether Dabolim will continue to function or not

Dabolim Airport Mopa Airport

Lights, Camera, Action

By RAGESHREE DAS

The end of the year is filled with festivities and exciting activities. And one such event is the International Film Festival of India (IFFI). Since its inception in 1952, IFFI has been India's largest event of its kind. The IFFIs that followed were held in New Delhi. IFFIs turned competitive starting with the third event in January 1965. The non-competitive Filmotsav, which intended to be celebrated in other film making cities on alternating years, was first presented in 1975. Later, IFFIs and Filmotsavs were combined. Then IFFI moved to Goa in 2004 and since that time, it has been an annual event in the state. IFFI aspires to provide a common platform for cinemas around the world to showcase the best in film-making, to advance understanding and appreciation of various film cultures in the context of their social and cultural ethos, and to foster friendship and cooperation.

A gala ceremony marked the

By SYBIL RODRIGUES

This is your first time on the Government Panel for IFFI. What are your thoughts on the same? I am quite excited to be affiliated to ESG as it is my first time being involved with IFFI. I am a very creative person, I am into films and although I am not a Bollywood person, I do watch a lot of international cinema and good OTT content. It is a very exciting portfolio for me and it goes with my personality. It is my first edition and I am a bit nervous because it is a huge event and we are having plenty of domestic and international media present.

Goans have played a key role in cinema as actors, musicians, film makers. What is your opinion on the idea of a film city in Goa? The government does understand the potential of Goa

As the curtain rises on the 53rd edition of IFFI, Goa gears up to celebrate this unique event which showcases the best of cinema

start of the 53rd International Film Festival of India (IFFI) in Goa. The opening ceremony took place close to Panaji at the Dr. Shyama Prasad Mukherjee Indoor Stadium. Alma and Oskar, directed by Austrian director Dieter Berner, premiered at IFFI, one of Asia’s oldest film festivals. Spanish film director, Carlos Saura received the ‘Satyajit Ray Lifetime Achievement Award’ at the inaugural ceremony. Veteran actor, Chiranjeevi, has been chosen as the ‘Indian Film Personality of the Year’ for 2022. With over 150 films to his credit, Chiranjeevi has had a spectacular career spanning

almost four decades as an actor, dancer, and producer. His heartfelt performances have made him a huge star in Telegu cinema. Anurag Singh Thakur, Minister of Information and Broadcasting, made a statement to this effect during the IFFI opening ceremony.

In his remarks, Thakur noted that IFFI has developed into a venue for film directors from around the globe to display their creations. He expressed optimism that India would develop into a major international centre for coproduction, post-production, filming, and technological partners and urged the film

community to turn India into a centre of global content. He stated that the government has plans to make India the most sought-after location for filmmakers, co-production, and post-production as the nation celebrates ‘Azadi Ka Amrit Mahotsav’. Leading cinema stars from across the nation performed in cultural performances at the inaugural ceremony; where dancing and music groups from both India and overseas also performed. In keeping with the ‘Azadi Ka Amrut Mahotsav’ celebrations, the ceremony’s topic was ‘Evolution of Indian Cinema over the Last 100 Years.’

Over the course of the nineday festival, 280 films from 79 different nations will be exhibited. The Indian Panorama section will present 25 feature films and 20 non-feature films, while the foreign programming will have 183 films. Eight films will be shown as part of the Country Focus package, with France serving as the ‘spotlight nation’ becoming a filming destination. We anyway are, but how do we make things better and how do we facilitate people to come and produce films in Goa. We have partnered with Planet Goem and they have a lot of Marathi content as well. So they will be having a Goa edition where they will put a lot of original Goan content. This is a starting point and shows the kind of sincerity the government has towards Goan cinema. We do want to set up some virtual studios here. Due to space constraints here in Goa we can’t do an entire film city like in Hyderabad or Mumbai but yes we need to leverage technology. Technology where locals can be trained and employed, become a skilling hub from start to end, right up from production, editing to animations and 4Dl. Although we don’t have

Business Goa speaks to Swetika Sachan, CEO, Entertainment Society of Goa, who goes to elaborate on Goa being the entertainment capital of India and involving locals into making IFFI a people’s festival

“We are keen to promote Goan culture and heritage at IFFI 2022”

Pic: Assavri Kulkarni

anything concrete yet; the government is looking into a few processes.

Regional cinema, although full of talent, like the recent recognition for Waghro, still doesn’t have more than a handful releases every year. How do we encourage local talent for Konkani or Marathi cinema coming out from Goa?

I think some of the major issues that I feel plague regional cinema in producing Konkani cinema or Konkani content is finance. So houses like Planet Goem will float a lot of funds by buying scripts, producing good content and this is a step in that direction. I think promotion will be a two-way street, as in, the government will provide a platform for people to showcase their talent like in this edition, we have a Goan cinema section and we will be having master classes in acting and other workshops by our local talent.

Goa is unofficially the

entertainment capital of India. How can we make this a sustainable industry in the state?

There is a need to build an entire ecosystem for production. For example, if somebody comes to shoot in Goa s/he needs to get a lot of things. If someone can provide all of this to them inhouse, it will encourage locals to participate in such areas. The government is also facilitating ease of doing business and we have brought in a single window system where any producer can apply for permissions. We further need to sensitise locals because many times we get permissions but there are objections from the panchayat. A lot of work has to be done in facilitating and making film shoots in Goa a pleasant experience. Secondly, we also need to have local skilled talent so that they don’t have to hire anyone from outside. We need to have a lot of creative resources based here who can be immediately employed and

help locals secure employment, promote local talent and reduce the cost.

IFFI is also a great platform to showcase Goa’s true heritage and culture. What’s your idea on this aspect?

Sitting here, in this building, is a big example of Goa’s heritage and culture. This Maquinez Palace is a beautiful piece of Goan heritage. From this edition, we want to promote Goan culture and heritage and we have made a local map of what we can do in different parts in Goa. We are having a show at Fort Aguada this time. These are some of the steps that we have taken to make sure that people enjoy a unique experience. The most unique thing about Goa is its heritage and I think that is what distinguishes Goa from any coastal state. The culture is very rich and this is what makes Goa stand out from the rest.

How is the government involving people to make IFFI a people’s festival?

We will do the open air screenings at 3 locations in Goa. The moving caravan theatre will be moving around and showcasing the locally popular cinema here. We are opening the Film Bazaar for the public from 3 to 6 pm. So people can go around looking at the state pavilions, country pavilions and see the kind of technology that they have and what film houses in other countries are doing. It is a beautiful walk and it is free for the public. There is also going to be an entertainment zone, an amusement park and we are doing the carnival for one day, and having a shigmotsav on the next day. It is an opportunity to experience this as these are usually timed events. It is a glimpse of the carnival and shigmotsav which is good for the locals as well as tourists and delegates

‘Vasudhaiva Kutumbakam’, is the permanent motto of IFFI which is its core philosophy. What are your thoughts on the background of IFFI that commenced from 2004?

To begin with, the Government of India and most importantly the former Chief Minister of Goa, late Manohar Parrikar initiated IFFI in Goa and made it the permanent venue for hosting it. This is a proud occasion for every Goan as Goa slowly got more recognition and importance because of IFFI. IFFI has embodied the theme ‘Vasudhaiva Kutumbakam’ for many years. The inauguration of the 53rd International Film Festival will be held on 20th of November and this shows how much time is required to prepare for this event (IFFI). Along with NFDC and ESG, both bodies are working together to make IFFI more successful. Firstly, the event took place virtually in 2020; and then it was held in hybrid mode in 2021. Now, after easing of covid, IFFI will take place in a complete physical form, and that is why the NFDC and the ESG have teamed up together, and will do their best to make

IFFI a successful event.

As you have been the CM since 2019, what would you like to say about your association with IFFI?

In 2019, the Chief Guest was renowned actor Amitabh Bachchan. As CM it was my first film festival. I remember in 2012, I joined IFFI as a MLA. In 2019, I directly got the opportunity to inaugurate IFFI as Chief Minister, along with Amitabh Bachchan and other esteemed dignitaries. This inauguration became a special moment for me. After that in 2020, we had to host it in the virtual form and in 2021 it was in a hybrid mode. Today, once again IFFI 2022 is going to be held in its full form and it is an opportunity, where we will make it the best to celebrate the idea of cinema. The NFDC, Minister of Information and Broadcasting Anurag Thakur and his team has lent us the support that we needed. There will be delegates from all over the world, national delegates, film makers, jury members from different parts of the world who are enthusiastic to attend this year’s IFFI.

In Conversation with PAVAN AGNI

Goans have played a key role as musicians, actors even film makers. What is the thought of having a film city, from the government’s perspective in the next 5 to 10 years?

If we look at it that way, there are very few Goans who are involved in the film industry. The ones who went to Mumbai have set up their film related businesses, like movie shoots, film making and a few are engaged in singing. The Hyderabad Film city, which I have seen personally, is huge and big. And constructing such a massive film city is unviable in Goa. Many film makers approach and discuss this issue. OTT platforms along with various other platforms, film making, especially digital film making platforms are approaching us. It still remains a question whether we can plan such a huge film city. Many people have approached me with various proposals that they are ready to invest in a film city and seek land. But due to land shortage in Goa, we are still evaluating the feasibility of a film city to meet their requirements. There will continue to be film shoots in Goa and ESG is offering single window clearance for the same. Many film shoots take place in Goa and it has the appropriate infrastructure, although human resources are still a challenge. Therefore, it is easier to make the film city when both the aspects are present – infrastructure, and human resource. So in the long run, whatever support is needed

from the Goa government to build the film city will be provided. Hence, we require skilled manpower, so that there will be proper infrastructure and human resource in one place.

You spoke of OTT platforms in which the regional film ‘Wagro’, released last year reached great heights. There is a lot of talent in the local population, be it in Konkani or Marathi films. From this perspective is there anything, from school level curriculum or at university level that can further help develop such talent which is free flowing right now?

At present there is skill development in various fields. So we keep going with skilling, re-skilling and up-skilling. Now, when it comes to film shoots, Kala Academy, the Art and Culture Department and Fine Arts College help in this procedure. Kala Academy specialises in drama along with diploma courses. Fine Arts College also offers a number of courses. Apart from that, the training and skills required for creating a film are very different from the ones that these academies offer. Hence, it is only possible to enhance these skills if certain courses are available for film making. And if someone who possesses such skills and wants to start a course, then we are ready to provide them the required infrastructure in the initial stage. Then they can set up a good site for shoots and proper offices. The reason we want to support such courses/ educational idea is

Dr Pramod Sawant

because

Chief Minister of Goa, Dr Pramod Sawant speaks to Business Goa in the backdrop of the 53rd International Film Festival of India (IFFI), and shares his thoughts on Goa being an entertainment destination

“We have plans to showcase local artistes through a variety of platforms during IFFI 2022”

there is raw talent in Goa. These can be seen in Konkani films, Marathi films and even in Hindi films. The skills needed for film shoots, production and the various stages in film making are present in the people of Goa.

Can we look at IFFI as an industry that will generate certain income for the exchequer or indirectly for the local people?

It is not directly for the exchequer. IFFI which is being held in Goa since 2004 benefits every Goan, Goan artistes, and the people working the in film industry. The producers, directors who come to the state need to grab this opportunity. At present, International and National Film Bazaar has commenced in Goa. As a result, there will be a large number of professionals from the film business there, including writers, producers, and those involved in the development and filming of the movie.

Hence, we must establish appropriate communication with them, and are prepared to use ESG to bridge the communication gap. In a nutshell, the government is willing to assist with the gap analysis. So people need to understand how to benefit from it. IFFI which is organised by ESG has set up a platform for the talent pool. We are making sure that Marathi film festival

that is being organised in Goa receives a boost. In short the government is planning to initiate a Konkani Film Festival in Goa to celebrate Goan talent. We have been financially supporting Konkani films for a long time now. Along with it, ESG has played a huge role in organising workshops and various activities to help boost this industry.

Goa has a rich culture. Do you believe that the government can take action to promote our traditions and culture?

Goa, which stretches from Pernem to Canacona, is home to a wide range of artistic expressions and diverse populations. For instance, in Canacona, you may find traditional dance forms like Goff, and during the Shigmo festival, we have the Talgadi, Ghodemodni, and Veerbhadra.

As a result, Goa is home to numerous cultural celebrations. Additionally, several platforms are being developed by the Departments of Art and Culture to promote these festivals. We have plans to showcase local artistes through a variety of outlets during IFFI, this time. Through these preparations, we intend to provide these artistes a stage on which to showcase their abilities both domestically and abroad.

Tiatr is a significant form of entertainment in the state. It is a part of the culture and its people. However, the majority of those that participate in Tiatr do it as a side employment. So, should they expect any kind of post-retirement benefits, and for how long should they hold out hope that the government will take such action? Just as we have Tiatr, we also have Natak. There are a lot of people involved in Nataks who do not receive any government post-retirement payments. But one piece of news that I have heard repeatedly is that the government offers postretirement benefits through the DDSSY programme to the majority of those over the age of 60.

We are aware that having that kind of respect is essential for artists. For professional artists over the age of 50, the government is also introducing the Kalakar pension. Hence the same benefits may be applicable to Tiatr artistes as well.

Panaji has been the permanent venue of IFFI in Goa since 2004. It can be seen that only a few people who live close to the venue, enjoy the festival. Can we look at it as Goa’s festival?

If we take a look at it, Panaji will remain the permanent venue for IFFI, as people have different interests and attraction towards this festival.

Some come to enjoy the films, some are keen of spotting their favourite actors, and some come to see wonderful decorations in the city during this festival. So those who are really interested in being a part of this celebration will enjoy it no matter where it is being held. To look at it from a practical point of view, it is impossible to organise such a large scale event throughout the state. We have come up with alternate ideas, including cinema screenings on the beach, in public spaces, and even screening on wheels, all over the State. Through this, many Goans get a chance to watch international and national films. Consequently, those who appreciate viewing movies will enjoy themselves at this event.

What movie, according to you, have you seen multiple times with your family and is one of your favourites?

I won’t lie; I don’t watch movies that frequently. But KGF which my daughter really wanted to watch because of its action scenes was the latest movie that I watched with my family. I have watched The Kashmir Files earlier. And Kantara was one movie I watched at Inox recently. Aside from that, time does not permit me to watch a movie more than once; one viewing is sufficient

being a threat, it will in turn help secure more international charter companies. With work being distributed, there will be a significant decrease in air traffic.

Therefore, more hours can be allotted to Dabolim airport as it is a naval base and can solely focus on such activities as well without compromising

certain hours of the day. The date of inauguration of the new airport at Mopa is yet to be finalised, but is expected to start functioning by January 2023. It

has been announced that most of the international flights, especially the Goa-Muscat airlines will shift its activities to Mopa airport

Spanish film director Carlos Saura honoured with Satyajit Ray Lifetime Achievement Award at IFFI 2022. The Award was collected by the Saura’s representative. Also seen in pic is I&B Minister Anurag Thakur

SNIP SALON AND SPA

Love is in the Hair!!!

By SYBIL RODRIGUES

Everyone’s hair needs love from time to time. It is ok to sleep on it wet, subject it to sun rays, pollution, heat style it too often and to colour it within an inch of its life as long as one is planning to put the hours (and money) back into caring for it at some point.

So when Sumeet Bhobe of Snip Salon & Spa said he would like review of the new luxury brand, Kérastase with new Fusio-Dose treatments, I jumped at the offer.

Established as a passion project in 1999 in the avatar of a small and trendy hair salon, SNIP has metamorphosised into one of the country’s largest and most recognized brands spread over 4 branches and 16,500 sq ft. For over two decades, SNIP is renowned for its quality of service, innovation and its unparalleled customercentric ethos.

With the cornerstone philosophy of ‘affordable luxury’, SNIP continues to grow and set its own benchmarks in the grooming and wellness industry.

Locals, business visitors

and tourists swear

by SNIP

for the exemplary attention to detail, highly personalised menu of services and the finest international products.

So on a bright Wednesday morning I walked into the humongous Snip branch at Porvorim. I was assigned to Erica, the salon’s top hairstylist, who took time to sit with me and discuss what my hair wanted and needed from the personalised conditioning treatment. I informed her that I had terrible hair fall thanks to various ailments over the years and she decided we’d go for an anti-hair loss Fusio dose which would make my hair look fuller and repair the hair fibre.

They have a range of special capsules full of hair-nourishing goodness that can be mixed and matched depending on your requirements. It all looked very slick and high-tech.

As a first step, the hairstylist and her assistant Muriel applied a mix of the Kerastase sea salt scrub and essential oil to my scalp to get rid of the flakes, dirt and excess oil. After rinsing my hair she applied the Kerastase Fusio Dose Concentré with a

During your Kérastase treatment, your hairstylist will ask you plenty of questions about the problems that you have with your hair and your hair goals before concocting a customized Fusio-Dose recipe just for your hair, mixing one of four concentrés with a booster for one of 20 possible treatment combinations

booster shot of the Kerastase Fusio-Dose Booster which would add density and strengthen the roots. This emulsion was massaged into my hair roots and hair. Next, two kinds of masks were applied. The first was the Kerastase Densifique with Hyaluronic and Stemoxydine which, when applied to the scalp, would amplify the roots of the hair so it looks and feels thicker. The next mask was the Kerastase Specifique Masque Hydra Apaisant with ingredients like Rhamnose and Complexe Aox

which was applied to the strands so it feels and looks fuller. After applying both masks, my head was massaged for ten minutes to that the products would be absorbed.

After that, my scalp and hair were steamed with a fine mist steam so as to lock in all the enriching goodness.

After rinsing my hair two kinds of hair serums were applied to the roots and strands; the Kerastase Initialiste which gives nutrients to the roots; and the Kerastase Elixir Ultime which protects the hair from heat.

Lastly, my hair was blow dried and styled giving it a volumising look. The first noticeable difference besides the softer, smoother texture and delicious smell was the lesser number of strands on my comb the next morning. The hairstylist recommends getting the treatment done every 15 days for long term results.

There are five kinds of the Kérastase Fusio-Dose Concentrés. The Nutrition Concentré Oléo Fusion which is designed for instant nutrition and softness, this micro-

Feeling like you need a nice romantic date out with your mane? Snip Salon and Spa has got the perfect solution: Kérastase Fusio-Dose

emulsion of natural jojoba and avocado oils provides immediate nutrition from roots to ends – without weighing down the hair; the Shine Concentré Pixelist, which is an ultra-fine emulsion of microluminescent active ingredients that coat the hair fiber and help provide radiance for hair colour; the Strength Concentré Vita-Ciment, which is a biomimetic cellular cement made of ceramides that helps repair and protect the hair fiber while filling in any gaps to provide uniformity and the Density Concentré Densifique which is a concentrated enriched with pro-calcium to instantly help the hair look stronger and fuller.

Meanwhile, there are six Kérastase Fusio-Dose Boosters. The Booster Cicafibre which is formulated with concentrated healing ingredients to instantly restore hair that’s been sensitized by lighting and to minimize the oxidation; the

Booster Nutrition which helps fill in the hair fiber to provide three times more nutrition; the Booster Brilliance whose polymers adhere to the overprocessed areas of the hair, smoothing the cuticle with the help of zinc gluconate

and vitamin E; the Booster Reconstruction which promises gorgeous, model perfect hair; the Booster Densité for thickerlooking, better-feeling hair and the Booster Discipline which provides and an anti-frizz effect while making detangling easier

and amping up manageability. Thanks to this formula, hair is left with 72-hour anti frizz protection and smoothness.

Think of Fusio-Dose as a customised in-salon treatment for your specific hair needs. The formulas contain concentrated active ingredients which fuse –get the name now? – for mega results. The process treats your hair and has lasting results, leading to hair that's visibly transformed.

During your Kérastase treatment, your hairstylist will ask you plenty of questions about the problems that you have with your hair and your hair goals before concocting a customized Fusio-Dose recipe just for your hair, mixing one of four concentrés with a booster for one of 20 possible treatment combinations.

So what are you waiting for? Book your appointment at Snip Salon & Spa for gorgeous, healthy hair. Thank me later

Snip Salon and Spa, Porvorim

LOKMANYA MULTIPURPOSE CO-OP SOCIETY LTD

SERVING BEYOND BANKING

business. At present, Lokmanya Society is in agreement with Nippon India Mutual Funds, HDFC Mutual Funds, Aditya Birla Sun life Insurance, Prudential ICICI Mutual Funds, and Kotak Mutual Funds.

Established in 1995, as a small credit society in the suburb of Belgaum, Lokmanya Society has come a long way since then; making their presence felt all over Karnataka, Maharashtra, Goa, and Delhi with a network of over 213 branches.

With a single-minded focus on working for the good of the people by uplifting their living standards through sustainable and meaningful initiatives, Lokmanya Multipurpose Coop. Society Ltd. was founded by Kiran Thakur.

Thakur is a renowned social worker, a reputed journalist, and the editor of Tarun Bharat daily. Under the aegis of Thakur, Lokmanya has been nurtured by honest intentions and unparalleled passions to

serve and empower the people and society.

The primary goal of the company was to provide financial support to the ambitious yet needy people with access to limited resources, who believed in following their dreams. Lokmanya is building platforms that can deliver education to people, as well as creating healthy living for the people via an expertise driven medical ecosystem, thus guiding them towards financial prosperity. Over the years, Lokmanya Multipurpose Coop. Society Ltd. has diversified its presence from financial services to travel planning and assistance with the people and their convenience at the centre of it. With a fine balance

between income from different ventures and transparent work culture, Lokmanya offers various services like banking and finance, education, life and general insurance, loans, and more.

The Society has flourished in the co-operative financial sector, providing various services as well, like life insurance, general insurance, health insurance, etc. As a matter of fact, all multi-purpose businesses of Lokmanya Society are associated with leading companies in their respective fields.

Standing amongst the top corporate agents, the Lokmanya Society is the corporate agent of LIC of India and has a tieup with ICICI Prudential Life Insurance, offering the best services to their customers.

Lokmanya Society as a corporate agent also represents IFFKO TOKIO, ICICI Lombard, and New India Assurance in the general insurance space. In the health insurance sector, they represent CARE health insurance, and will very soon be representing Star Health Insurance.

Countering the growing demands for mutual fund investments, Lokmanya Society has slowly entered this field of the market, as well. Being one of the largest multipurpose coop societies, they have been approached by many mutual fund companies for joint

In collaboration with RBIapproved banks, Lokmanya Society is also offering home loans against properties as well as personal loans, at affordable market rates – making the availability of loans easier with less documentation and quicker disbursement time.

Recently, Lokmanya Society has ventured into logistic services in collaboration with IXG Logistics, an international logistics provider in 197 countries across the globe. They deliver goods accurately in a short span of time at reasonable prices while following all international rules and regulations.

Highest Rate of Interest, additional 0.50% interest to senior citizens, door to door service by staff, and proper orientation of young staff by experienced branch heads lead to encouraging results; and the excellent services provided by Lokmanya society has ensured its place as a well known credit society. After more than two decades, Lokmanya continues to support countless dreams across the rural-urban divide of India. A place where every thought, decision and action is for the people, it is touching, nurturing and enriching the lives of people while strengthening the society.

Under the keen eyes of Chairman Kiran Thakur, various multipurpose activities are sure to be introduced in the near future. Being a great source of inspiration and motivation to his employees, Thakur’s message to his employees is simple, “There are no secrets to success. It is the result of preparation, hard work and learning from failure”

Over the years Lokmanya Multipurpose Co-Op Society Ltd has made great strides in the finance sector and has been providing various related services

Kiran Thakur

Networking and Building Relationships

BNI (Business Network International), known to be the world’s leading business networking and referral organisation, has also achieved tremendous strides in India – becoming India’s largest and most successful business networking organisations, as well.

With core objectives of offering the best business opportunities, contact sharing and business referrals, BNI Goa strives to enable its members to thrive in the business scenario

BNI Goa was launched in April 2010 by Rajkumar Kamat, Founder and Managing Director of EP Kamat Group. Though Rajkumar may have sown the seeds of BNI in Goa and has been overseeing its overall progress in the state, BNI Goa has been nurtured and grown by many of its passionate BNI stalwarts, who have enthusiastically volunteered their valuable time, experience and efforts to bring it to the level that it has reached today by building relationships and creating a well thought-out and compassionate system of giving and receiving business referrals.

A civil engineer by training and a businessman by calling, with a primary focus on construction and fabrication since 2004, Vilanova Lobo has completed numerous construction projects across the entire state of Goa; and is an expert in building hotels, villas, restaurants, container cottages, industrial sheds, metal-framed structures, jetties, house roofs, dismantling temporary structures, hotels and villas with steel fabrication, temporary fabricated cottages, industrial sheds, parking lots, jetties, pontoons for casinos, and other commercial construction projects.

Having many satisfied clients, Vilanova consistently strives to develop business

relationships and bag business from new clients.

Majority of the projects completed by his organisation are villas and grey building structures. His company has had the honour of building a fabricated jetty in Panaji. Vilanova believes that by working as a team and being dedicated, anyone can accomplish their goals. VCM has built a 6000 square foot large fabricated hall in a Star hotel in Calangute in 2020.

Vilanova endeavours to carry everyone along with him, as he believes in simplicity and dedication. His ultimate goal is to become one of Goa’s top ten builders, building classic villas and large fabrication projects

(Smart Money Value Venture) Edutech Advisory Pvt. Ltd started off on 21st March 2021 as a small unit by Chandan Venkatesh and now employs more than 50 people. Loan processing, investment planning and stock market trading are the prime services that they offer. SMVV has 100+ happy customers for loans. Be it a commercial loan or a housing loan, the company delivers instant loan sanctioning within 24 hours. Lending 100% housing loan value with attractive EMI plans that interests prospects towards

SMVV. In association with their policies, the customised EMI plan covers the loan amount as well as helps the client to yield additional income.

The initial challenges of the business included concerns questioning survival, investment returns and security of services and SMVV laud all those clients who invested with them despite the odds. The dedicated management and continuous efforts led by the enterprising Chandan Venkatesh, fuels SMVV’s growth as they live up to their tagline ‘Let’s Get Rich’

SMVV

VCM FABRICATORS & BUILDERS VILANOVA LOBO

SMVV EDUTECH ADVISORY PVT. LTD. CHANDAN VENKATESH

TOP PERFORMERS OF BNI GOA

BNI offers its members opportunities to network, share contacts; besides giving and gaining business referrals

Vilanova Lobo

SYNERGY CHAPTER

BNI SYNERGY is one of the most consistent BNI chapters in Goa – vibrant, young and booming with energy; doing great business with not just their own chapter but cross chapter and cross region members

DS FINANCIALS

DHILAN SHAH

Dhilan Shah was born and raised in Goa. With origins in Gujarat, Dhilan began his professional career with a prestigious private sector bank in Goa after receiving his degree in Commerce; and worked there for more than 8 years before beginning his entrepreneurial journey in 2017. Since then, there has been no turning back. DS Financials is a proprietary firm registered in Panaji, founded by Dhilan Shah in 2017. He has a PGDM from the Goa Institute of Management.

Investments and portfolio management are his firm’s specialties. They provide advice and product recommendations based on one’s needs and return expectations from the various investment options. They support an asset classbased strategy and multi-asset

@FINANCIALEE SAILEE CHARI

Sailee Chari, who operates under the company name @ FinanciaLEE, began her career in 2017 as a life insurance advisor. She has more than five years of experience working in the life insurance industry and has held various Centurion Agent positions with LIC; serving more than 100 customers around Goa.

class investing. In order to build wealth over the long term, it is crucial to maintain the proper asset allocation.

DS Financials says that simple investment discipline will help you outperform 90% of return seekers.

Keep things simple; don’t complicate investment; that’s what they strive to do. They offer will writing, estate planning solutions, cash flow and liquidity management, goal-based planning, financial planning, retirement planning, and PMS (portfolio management services)

XEA COMMERCIAL LEASING HARSHAL SHAH

with the needs of the companies. They assist owners in receiving the highest value for their properties.

XEA has expertise in leasing spaces to businesses from a variety of industries, including apparel, footwear, jewellery, pharmacies, quick service restaurants, co-working spaces, etc.

XEA has worked with several well-known brands and have provided their leasing services to them.

XEA Commercial Leasing, a RERA registered firm is owned by Harshal P Shah from Panaji. They are a commercial leasing company with the mission of providing the finest properties on the market in accordance

Sailee specialises in several different insurance products, including term life insurance, retirement insurance, child education insurance, moneyback plans, employer-employee insurance, group insurance, and more. She is engaged by LIC and a few private insurance firms. By 2025, Sailee hopes to cover the lives of 1000 clients; she values both customer satisfaction and company transparency

DEVIKA MANGALDAS, POSITIVE PERCEPTION COUNSELLING & TRAINING SERVICES

Devika Mangaldas, is a Certified Counselling Psychologist, who brings 15+ years of professional experience in the field of mental health, social work, education, research and holds post-graduate degrees in industrial and advanced counselling psychology. Through her mental health initiative, founded by her as Positive Perception Counselling & Training Services, she aims to develop the client, personally and professionally by facilitating them into achieving their fullest potentials and by

transforming mindsets to being more positive.

The therapeutic services

include psychotherapy, cognitive behaviour therapy, rational emotive behaviour therapy, psychosomatic therapy, couple therapy, art therapy, tarot psychotherapy, dream therapy, group therapy, travel therapy, adventure therapy and integrated and customised therapy.

These therapies help those who are dealing with stress, anxiety, depression, relationship concerns, anger issues, communication skills, conflict at work, work life balance and related concerns.

From property scouting to deal closure, XEA helps businesses from start to finish. In order to lawfully secure the necessary licence for efficient operation, they also offer services for documentation and interacting with government offices. XEA has currently leased more than 145 storefronts for various retail brands. XEA serves Goa, Mumbai, Maharashtra, and Karnataka.

Along with leasing, they also pre-lease properties and offer them for sale to investors with rentals available right now. The market is expanding, and so is XEA.

Goa is attracting brands from all over the world, and XEA Commercial Leasing is here to make sure that both retailers and landlords profit

She leads workshops and sessions on changing one's thinking to improve various skills because she is passionate about inspiring others in life.

Devika has been conducting successful workshops, webinars, soft skills training programs, career guidance and parenting sessions for hospitals, schools and corporates, respectively. She is also a Prevention of Sexual Harassment at Workplace Consultant and an internationally certified Behavioural Trainer and Life Coach

MANASI KAMAT WARTY | WISELY HR CO

Adding the ‘Personnel’ touch

By SYBIL RODRIGUES

When it comes to adding a new member to one’s organisation, focuses on ‘Working with your Vision’ to understand and determine swiftly which candidates will be the perfect fit to the organisation’s requirements. Wisely HR Co. is founded by Manasi Kamat Warty. The firm is armed to provide multiple recruitment solutions. Their business model is agile and adaptive, built to foresee and overcome the complexities of the future and current job market.

Manasi was born and raised in Goa. When it came to choosing a stream for her higher education, she was clueless about what she wanted to pursue as her profession; but was very sure about what she didn’t want to take up which were the professional courses lined up after science which was expected from an excellent student like her. “Thankfully I had very supportive parents who suggested (among many options) pursuing a career in HR by studying Industrial Psychology and that is what clicked for me. It aligned with my interest for human thoughts and emotions while focusing on work-life,” she says. She took off to Mumbai to pursue her graduation and then post graduation in Industrial Psychology. The five years spent in the hustle bustle of the city navigating academics along with variety of extracurricular activities was a great learning experience for her. “It gave me a lot of exposure through interactions with reputed faculty in the field and work experience in HR dept of a renowned advertising agency.”

After completing her postgraduation Manasi returned to Goa and started working in the HR department in the pharmaceutical industry.

Having worked with established companies like Medizest Pharmaceuticals and Indoco Remedies gave her immense exposure and learning into the HR processes especially recruitment. Later as she joined Xerviz Wlobal as Executive Director, it gave her a better insight into the IT / ITES industry. “As Xerviz Wlobal marked its place in the market with 6+ years in business, we considered expanding the business in new verticals. Owing to the booming growth in the IT industry in the recent years and the opportunities it brings with itself, stepping into IT recruitment seemed like the next organic step based on my previous work experiences and educational background,” she adds while explaining how the idea of Wisely came about.

Manasi goes on to explain about her company and believes that there is a right fit for all kinds of organisations and candidates. “Not all jobs are meant for one person and similarly not everyone is meant for one job. It is all about finding the perfect fit for that person and for that company. And that is what we strive to achieve. Job seekers feel that there is a lack of job opportunities and job givers complain of lack

Manasi Kamat Warty

more competent to find the best suitable candidate in a manner that is time and cost effective,” she says.

of resources. Wisely aims to bridge the gap here and connect the right candidate to the right job opportunity.”

Manasi set up Wisely HR Co, a recruitment agency based in Goa and currently servicing pan India. “We are focused on IT Recruitment right now so we handle hiring of candidates ranging from fresh graduates to highly experienced personnel. We also specialise in Executive Search to effectively search for the perfect leadership candidate for the organisation. We believe in bridging the gap between what the industry is looking for and what the talent pool is expecting. On that account we have recently started with training and guidance to groom eager candidates to become industry ready. This includes effective CV building, interview preparation and overall skill development.

With Wisely, Manasi aims to distinguish them from the rest of the market as they are uniquely focused on the IT Industry. “The fast pace at which the IT industry is growing their recruitment needs are urgent and require undivided attention. By staying focused on this industry, instead of branching out into hospitality, pharmaceuticals etc., we are

Manasi goes on to speak on being an entrepreneur in a male dominated world. “While it can be a challenge to take on such a task nothing seems impossible when you have the support of your well-wishers. I personally feel extremely blessed to have the full support of my husband Rohan Warty who is also the cofounder of Wisely HR Co. His encouragement, guidance and exceptional business acumen has been irreplaceable for me. Building a good team with great work ethic has been crucial to lay the foundation. Constantly evaluating our process and making adjustments to achieve the optimal performance has worked for us from the beginning. Every experience good or bad is a learning experience for us.”

As an entrepreneur, she mentions that engaging in hobbies can be quiet therapeutic as the work never stops. Manasi chooses to indulge in activities where she can experiment with her creativity, like crochet, embroidery, lippan art (mud and mirror work), and DIY projects. Off late, gardening has become a passion.

Regarding her future plans Manasi says that they have had a good run this year and are looking to scale new heights in the coming year. “Next year, we are looking to expand our current team of 5 by at least double the size and make a mark in the international market. We look forward to grow the scope of our work, while maintaining the quality and focus we currently deliver.”

She signs off with a message to aspiring women entrepreneurs. “Bet on yourself. Often as women we are not encouraged to take a risk and are always asked to choose the safer or stable option. When you believe in yourself, automatically all the negativity around you will tune out and the confidence will be reflected in your work”

Manasi Kamat Warty elaborates on setting up her recruitment firm and being an entrepreneur in a man’s world

Legally Yours

By SYBIL RODRIGUES

Anarkali Agni is a senior advocate, a counsel for Goa University and a Senior Counsel at the Bombay High Court with a rich experience in the legal industry.

Sr Adv Agni hails from Ribandar, her father Dr Savlo Keni was a very notable doctor and the Vice Chairman of Kala Academy. Her mother, Sudha was a poetess who penned various poems in Konkani and Marathi along with writing for All India Radio, as well. The renowned Konkani poetess Vijaya Bai Sarmalcar was her aunt. Sr Adv Agni grew up surrounded by music, art, poetry and books in her childhood home. She studied at Bal Bharti Vidyamandir and mentions that she grew up along with the school. “I was in the first batch in the fifth standard and they kept on adding classes as I advanced every year. After completing my eleventh standard I went on to graduate in Arts from Dhempe College of Arts and Science. Later I joined V M Salgaocar College of Law, where again, I was a student of the first batch,” she adds.

Sr Adv Agni still wonders how she got into the legal profession given that there were no lawyers in her family. “My father was a doctor and no one in my family had ever taken up law. When I was young, I had a passion for public speaking and when I was studying for my second year in Faculty of Arts, I was part of a congregation held in honour of V. S. Khandekar, the noted Marathi writer. I got a chance to speak in front of a large crowd at the Institute Menezes Braganza and it was something I thoroughly enjoyed. My father, on seeing my enthusiasm, advised me to take up law as a profession and since then there was no looking back.”

Sr Adv Agni says that in Goa it is not possible to specialise in any one specific area of law, and personally she feels that it is a

blessing in disguise as lawyers get an opportunity to handle cases of all kinds, else there is no challenge to one’s intellect. As a counsel of Goa University, she mentions that she has handled admission matters, service matters, matters under Article 30 (minority educational institutions) of the Constitution and other such cases. She would handle matrimonial cases, custody matters of children and also matters of completely different texture such as labour laws. She has also handled diverse type of cases like property matters, and criminal cases, once in a while.

In 2014, Adv Agni was designated as Senior Advocate by the Bombay High Court; and till date, she is the only lady advocate to be designated as Senior Advocate in the state. The early years in the profession for her were marked with very interesting cases. Fortunately for her, she never faced adversity or bias on account of

being a lady and does not recall any discriminatory treatment meted out to her. “I started out at a time when lady lawyers were few and far between. But I did not face a situation where judges or clients made distinction between lady and the male lawyers. On the contrary, people were very interested in seeing a lady lawyer during those days. Everything so far for me as a woman has been smooth sailing,” she adds.

Over the years, Sr Adv Agni has handled an interesting mix of cases. “The challenge to a lawyer is when a law point is brought up one has to argue not only on facts but also on the statutory provisions of the law. I have even argued rape cases, but steadfastly avoided to accept briefs where cases pertain to rape on minors. Some of them really stand out as special cases in my memory.”

She states that the most challenging thing about her profession was balancing her

career and family. “When a woman succeeds, she works more than a man, as a woman has to balance her career, her home and her children. I did all of this. My daughter is a lawyer, too; and when she was small I did have a tough time. My husband had fallen sick back then and there were times when there was no help and I had to rush from the court after attending to my matters for the day, to tend to my husband and child at home. But then it gives one experience which I feel is the best teacher.”

Sr Adv Agni says that spending time with her grandson is what makes her ecstatic. “Now at my age, I have gotten used to my work and I feel it is necessary to work to keep my mind active.”

Apart from her legal work she is very interested in dramas and had participated in a few of them when she was young. She loves music and plays the harmonium sometimes. “I love to write and have written a book on poetry in Hindi and Urdu and have published a book of short stories.”

Sr Adv Agni credits her parents who inspired her and her biggest support has been her husband, Advocate Ajit Agni. “My first matter in the High Court was referred to me by my husband, and I will always be grateful for his support. Professionally, we have worked together and we have faced comparisons over the years, but he has always been my pillar of strength.” Sr Adv Agni plans to write another book and says one is as old or as young as one thinks. “When I am with my grandson, I am five years old and those are my happy hours.”

She signs off with a message to aspiring professionals. “Hard work, tenacity and perseverance are the most important factors. No matter how intelligent one is, if there is no hard work, things don’t work out. Success is 99% perspiration and 1% inspiration; and it is a mantra I firmly live by”

Senior Advocate Anarkali Agni highlights her journey as a lawyer and enjoying her practice in present times

Sr Adv Anarkali Agni

Goa’s startup ecosystem: A boon to first-time entrepreneurs

As the startup scenario flourishes in Goa, Forum for Innovation Incubation Research and Entrepreneurship (FiiRE) assists new entrepreneurs to apply for various government programmes

The Indian startup ecosystem has expanded rapidly over time. India now has the thirdlargest startup environment because of favourable demographics, rising investor confidence, and several government initiatives.

Due to these favourable demographics and government initiatives, India boasts the third-largest startup environment in the world.

Early-stage businesses are also growing because of initiatives like establishing technology business incubators like FiiRE (Forum for Innovation Incubation Research and Entrepreneurship), located in Goa.

The number of early-stage businesses in India has surged due to such strategic efforts. The number is likely to proliferate as entrepreneurial fever continues and the young generation, uses technological innovations a lot more across various fields.

Goa was also, one of the first four Indian states to develop a startup policy.

In addition to fostering innovation and technology, Goa also boasts of an exceptional work-life balance and a progressive administration dedicated to assisting businesses and making them successful.

Goa’s startups benefit from a unique location that allows for a beautiful blend of work and pleasure, close to rural and urban attractions. Goa is unrivalled in terms of culture, weather, infrastructure, and quality of life, scoring highly on work-life balance. Additionally, the people’s innate English language proficiency, relaxed pace of life, and the state’s large talent pool – all serve as incentives for business owners to establish themselves on Goa’s sunny coasts.

Goa offers good access to all major cities, a nice balance

of urban and rural areas, and a good spot for individuals to establish their lives.

By 2025, Goa government aspires to have the state rank among the top 25 startup hotspots in Asia and as India’s ‘most popular’ startup locations. Through its Startup Policy, Goa seeks to support 100 early-stage enterprises’ success, over the following five years.

The state government is developing a thriving and long-lasting startup ecosystem by combining favourable rules, constructing necessary infrastructure, various financial and other incentives, and advancing human capital.

Goa has a great choice of co-working spaces that make for affordable and accessible shared workspaces for startups to work, collaborate and grow, such as FiiREWork, which has its co-working spaces in Fatorda, Margao, as well as in Panaji.

A startup ecosystem’s lifeline, accelerators and incubators are among the most significant institutions. Accelerators and incubators help startups accelerate their learning process but also help them avoid common mistakes made by new businesses and connect with the right people who can help them further.

Goa features several incubation support players that span private, state, and academic initiatives, including FiiRE’s

incubation centres at Don Bosco Engineering College in Margao and the Don Bosco High Secondary School in Panaji.

Goa’s entrepreneurial spirit is at an all-time high and is set to soar much higher as it generates value, jobs, and new opportunities. The state appears to be intentional and promising with implementing the brand-new Startup Policy. As Goa combines its resources to build the ideal startup ecosystem, a new era of startups is beginning. Goa is the clear choice for businesses looking to enjoy some time in the spotlight in more ways than one.

For the second edition of the Grand Challenge, FiiRE Goa partnered with Campus Fund, Arthayan, and Amazon Web Services (AWS) to encourage India’s student population to be job creators rather than job seekers.

The Challenge’s goal was to change India’s entrepreneurial ecosystem in a way that would support and encourage studentled enterprises. The top three applicants would have the opportunity to present their startup to the Investment Committee of Campus Fund for a 50 lakh investment. Student founders, graduates within the previous three years, and enterprising college dropouts with goals were eligible to apply.

Incubatees are continuously supported through the various stages of their business growth

at FiiRE, which is housed in a 2500 sq mt space and furnished with a co-working space, labs for prototype testing, a cafeteria, conference rooms, and meeting rooms.

To uncover and support TourismTech startups that offer solutions to enhance visitor experiences and produce ideas that will progress the industry, FiiRE developed the Goa Tourism Accelerator Program.

For startup entrepreneurs who are developing strategies to future-proof travel, tourism, and hospitality industries, Goa Tourism Accelerator programme is a 16-week programme. The go-toadvertise process utilised to market their solution is improved with the help of this programme.

Additionally, new business owners can apply for government programmes that FiiRE administers after doing their due diligence and determining eligibility:

1. NIDHI-PRAYAS is a programme that offers to fund prototype ideas. Due to the lack of assistance for early-stage prototypes, many entrepreneurs and innovators lose interest in their technological projects.

The NIDHI: Promoting and Accelerating Young and Aspiring Technology Entrepreneurs (NIDHIPRAYAS) programme, a preincubation project, helps young inventors create a proof-of-concept for their concepts. With this assistance, business owners may test their ideas without fear of failure, moving forward to the point where they have a finalised product and are prepared to speak with incubators about commercialisation.

It also enables the conversion of an original idea into a functional prototype

and generates new solutions that address local and global concerns. Encourage the creation of an innovative ecosystem, provide young people the opportunity to work on their new technology, knowledge, or innovationbased enterprises, and build a diversified network of innovators, academics, mentors, and investors.

2. The NIDHI-EIR Program provides opportunities such as advice on the business concept, strategy, or venture from seasoned, innovative, and highly successful entrepreneurs as well as insight into specific industries or markets, the best practices for starting a business and broadening the professional network, and co-working spaces for developing the idea into a marketable product.

To provide deserving and aspiring startup entrepreneurs with a prestigious platform where they can pursue their business ventures without taking on any additional risks associated with technologybased businesses.

The NIDHI-EIR Support Program’s goals are to encourage graduating students to pursue entrepreneurship by providing financial assistance through fellowships; build up and strengthening the incubator’s pipeline of entrepreneurs.

3. Startup India Seed Fund Program: In addition, FiiRE administers the Startup India Seed Fund Scheme (SISFS) intends to support entrepreneurs in market entry, product testing, prototype creation, proof of concept, and commercialisation.

By doing so, these businesses would be able to develop to the point where they might look for funding from venture capitalists or angel investors or submit an application for a loan from commercial banks or other financial institutions.

4. Prime Minister’s Employment Generation Programme (PMEGP)

The Ministry of Micro, Small, and Medium Enterprises will administer the PMEGP, a central sector programme (MoMSME). Its goals include creating new self-employment ventures, projects, and micro businesses, bringing together traditional artisans who are widely distributed and unemployed youngsters from rural and urban areas, and providing them access to selfemployment options, locally.

5. The Chief Minister’s Rojgar Yojana (CMRY)

Together with the Economic Development Corporation of Goa (EDC), the State Government launched CMRY to help young people without work. This project calls for the employment of all common people, scheduled castes, scheduled tribes, and other members of the lower socioeconomic strata through government loans.

This program’s primary goal is to empower and educate unemployed young people. Introducing self-employment activities supported by institutional loans, financial support from the government, and income generation.

6. PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME)

The PMFME Scheme, a onestop shop for the food business, is currently gaining popularity nationwide.

It is a single, centrally funded initiative that seeks to address the challenges faced by microbusinesses, while primarily utilising the cooperative and group potential to aid in the growth and formalisation of businesses.

To make the most money available from the sale is the crucial goal. One of the essential components of this strategy is the capacity to grow the current micro-entrepreneurial community.

One of the significant facilitators in this process is FiiRE. FiiRE is an important TourismTech accelerator in the

nation with a mission to assist emerging tourism technology entrepreneurs in taking off.

To help tech entrepreneurs design and scale innovations in the tourism industry across various market categories, including sustainability, mobility, and operational efficiency.

FiiRE, as a TourismTech Accelerator and incubator, promotes early-stage entrepreneurs by helping them develop and test their ideas. They also provide funding, knowledge, and access to the market so that they may try their inventions.

FiiRE assists entrepreneurs in growing their businesses by providing them access to mentors, needs, and capital, emphasising accelerating innovative advances across many industries.

FiiRE can provide a strong foundation of industry knowledge because of its strong

partnerships with organisations like BBRi (Big Blue Road (India) Pvt. Ltd.), a prominent provider of advisory services for the tourism, analytics, and technology industries.

Like the FiiRE-BBRi alliance FiiRE has also forged a few more powerful collaborations to strengthen its proposition and really empower TourismTech startups to scale and grow.

FiiRE’s focus has always been on simplifying startup innovation, whether it is through investor meetings, pitch clinics, workshops with industry experts and mentors in specialised business fields, or competitions and challenges meant to encourage entrepreneurs to show off their best abilities. Their approach towards first-time entrepreneurs starting their journey significantly provides the right conditions for growth and success

Lighting up Spaces

By SYBIL RODRIGUES

Light is one of the most important elements in interior design. Lighting creates unique experiences, can completely change a design and has the capacity to create an atmosphere much more than furniture or an accessory can.

Keeping this is mind; Shaikh Abdul Majid came up with the concept of Vibgyor Light Design Studio. A lawyer by profession Shaikh has experience of working in different spheres having been a fashion designer and worked in Paris and the Middle East for seven years before coming back to Goa in 2002. He got into his core family business of lighting and electricals in the same year. Having been in the lighting business for a long time now, Shaikh has his own brand, Marichii, wherein he designs and manufactures his own lighting equipment.

“People wanted a place where all their lighting needs would be met. There is no lighting showroom which caters to the needs in Goa and I wanted to give people an option where they could get their requirements all under one roof”, he adds while speaking on the idea behind starting Vibgyor.

The showroom is 400 sq. mts and has around 3000 points with a wide array of decorative, architectural and utility lights. There are wall lights, floor

lamps, lamps and shades and every other lighting design one needs for small or large space. Every aspect of lighting here is remote controlled.

“A customer is given the remote and he can switch on the light and see if it suits his taste. If he likes a particular design he approaches a salesman to go ahead with the sale. I plan on giving touch pads to the customers in the near future so that they can order on their own if they are comfortable with that,” Shaikh explains.

Shaikh says the showroom is equipped with every kind of lighting. “You name it and we have it. We have wall lights from `500/- to `50000/-. We have chandeliers ranging from `5000/- to `50 lakhs. There are no limitations in the lighting system that we have here. There

is commercial lighting where we can design your 5-star or 7-star properties, villas, mansions, outdoor lightings and so on. We can also take on bigger projects if given the opportunity. We have our electrical engineers on site management systems and we have a technical team here at the Studio.”

Vibgyor can cater to the needs of everyone right up from a small studio apartment to a 7-star property. “If a consultant comes in or even if an international light designer comes in here, he will find what he is looking for. We have not restrained ourselves to Goa or India only,” Shaikh says.

The latest development and technology in lighting can be seen at the showroom. Shaikh states that he makes sure to obtain the most recent

technologies in lighting whenever he travels abroad. “We can program everything when it comes to lighting. We can change the lighting depending on the time of day where the lighting will take its own course according to the natural light coming in from outside. The light will dim or brighten up as the day progresses. This is what I want to introduce to Goa, soon.”

Vibgyor has some of the best brands stocked when it comes to lighting. There are Indian brands like Ledos, Pasolite, HYBEC, Lafit, Changi, LED Lum, Fumagalli from Italy, the automation by Vimar from Italy, Phillips, Blossoms, Aerglow, Artisan, and PHILOMINA Collections when it comes to decorative lighting .

Vibgyor has its own technical team. Shaikh goes on to explain, “If a customer wants us to visit the site we send our technicians so that they can share their recommendations and suggestions. Our technicians are well trained and we do not engage in unethical practices like overselling just because a customer is ready to spend.”

Speaking on his future plans, Shaikh says that he would like to work on the automation part of lighting. “The need for automation has yet to come about in Goa. The first thing I want to do is create awareness about automation in the lighting market. We plan to get in touch with engineers, architects and interior designers to make them aware of the automated aspects of lighting. Specialised lighting is still in its nascent stage and we want to set up an academy soon. We are working towards developing a crash and diploma courses. We will mostly be affiliated to the German University which is the highest ranking university for lighting systems.” To conclude Shaikh mentions, “We hope to be the largest lighting showroom in the world in Goa. I want to see Goa as a hub and a trendsetter for lighting systems across globe”

Vibgyor Light Design Studio boasts of having the best of lighting equipment and promises to meet the needs of every home and commercial project

Shaikh Abdul Majid

Revolutionising the night life scene in Goa

By SYBIL RODRIGUES

Clubr is a nightlife discovery platform which connects the entire nightlife ecosystem to offer you real time information on the party scene. The startup believes in spontaneity, and has hence equipped clubs with the necessary infrastructure to help them connect with audience in real time by directly channeling information from their platform.

For the first time, Clubr has empowered nightclubs to roll out last minute deals and last-minute tickets ensuring successful nights for partygoers and themselves as well. They aim to redefine the clubbing experience by curating the best gigs in town and help clubbers discover information about table reservations, offers, book deals and tickets with ease as and when required.

The man behind Clubr is Rajesh Sukamanchi who wished to offer holistic solutions for nightclubs and party venues. “If one were to look at any nightlife venues or live entertainment scenes, the

organisers do not have access to every aspect like selling tickets or table reservations. We come in as a platform and provide them with complete technologies to address all their issues like reservations, selling tickets and offer a holistic brand experience. We also complement it with our discounted platform by bringing in more traffic for them and enable organisers to make more sales.”

Rajesh has been in the digital space for more than ten years and owns Purple Syntax, a company which provides software and digital marketing solutions for various brands.

The idea of starting Clubr came about when Rajesh was working on one of the multiple projects in his portfolio. “I was looking into launching a startup and wanted to do something for a space that has lot of scope for improvement and development. When I saw the state of the live entertainment scene everything was fragmented and was controlled by individual promoters or PR

managers. The major players were consolidated and very few people were in a position to solve core problems which were faced by various venues and organisers. This is where I saw a significant need for improvement, began working on it which led to the launch of Clubr.”

He further adds “Our mission is to organise nightlife information and make it easily accessible to clubbers. We believe that we can leverage the latest technology to achieve this and are passionate about combining the better of two great worlds of nightlife and technology. We aim to be the go-to application for clubbers for real time information of the party scene and redefine clubbing experience for them.”

Till a certain stage, Clubr was bootstrapped by Rajesh but recently he received a small seed fund from Forum for Innovation Incubation Research and Entrepreneurship (FiiRE). Clubr has already begun generating revenue and is in the growth phase. FiiRE, a selected incubator to implement the Startup India

Seed Fund Scheme by the Government of Goa, selects startups for funding based on qualifying parameters and their pitch to the Incubator Seedfund Management Committee (ISMC) of FiiRE.

Clubr is not a regular online discovery platform. It offers much more through:

• Clubr: A dedicated nightlife discovery platform for users, where deals and packages, subscriptions and venue details can be found and tickets can be booked directly from.

• Clubr Backstage: A whitelabel solution for venues and organisers, with tailored web/mobile applications to sell merchandise, tickets, deals and RSVP directly enhancing their brand experience.

• Clubr Onelink: A social media integration link that offers digital engagement capabilities and social media marketing to showcase, upsell and capture customer base through social media.

• Clubr Tribe: A community of nightlife influencers, enthusiasts and professionals aimed at creating a network to connect and collaborate.

As far as future plans are concerned, Rajesh says, “Now that we have a significant product with us, we have been getting a lot of traction from our users. We want to focus more on growth and add multiple markets. Currently we are in Hyderabad, Goa and Bangalore and would like to explore more markets in the coming year.

Market trend analysis for the nightlife industry estimates a Compound Annual Growth Rate (CAGR) of 4.28% with the concept of multi-faceted venues, and experiences ruling the roost.

Clubr comes at a ripe, right time and shows promise to revolutionise and disrupt the nightlife industry

Rajesh Sukhamanchi aims to bring about a change in the entertainment industry in Goa with his platform, Clubr

Rajesh Sukhamanchi

INTERNATIONAL CONFERENCE ON DRUG DISCOVERY (ICDD-2022) INAUGURATED AT BITS PILANI GOA CAMPUS

The fourth edition of The International Conference on Drug Discovery - 2022 (ICDD2022): Success Stories - From Computation to Clinical Trials jointly organised by BITS Pilani, K. K. Birla Goa Campus and Schrödinger (www. schrodinger.com), opened to a grand audience of 1300 participants at the auditorium of BITS Pilani, K K Birla Goa Campus.

The conference was inaugurated in a glittering ceremony which was graced by Dr. Karen Akinsanya, (President, R&D, Schrodinger), Paul Davie (Vice President,

Schrodinger), Dr. Raghu Rangaswamy (Vice President, Schrodinger India), Prof. Suman Kundu (Director, BITS Pilani, KK Birla Goa Campus) and Dr. Sumit Biswas, Convener.

In her address, Dr. Karen talked about the vast potential of drug discovery and the broad supportive platform provided by Schrodinger towards the same.

Prof. Suman Kundu, in his address, expressed optimism on the emergence of India as a drug discovery hotspot and stressed on the genesis of a centre of excellence in human

disease and drug discovery in the state.

The conference is being attended by top scientists from pharmaceutical companies, such as Glenmark, Gilead, Eli Lilly, Syngene, Jubilant, Aurigene, Aragen, Sun Pharma etc. and leading academic institutions (like NCBS, NCL, InStem, IISc, IMTECH, Bose Institute, BITS (Pilani and Hyderabad campus).

The conference has also attracted a very interested audience with 700 thematic posters being presented over a span of 2 days. The speakers and panelists included Directors

of CSIR-Indian Institute of Chemical Technology (IICT), CSIR – Central Drug Research Institute, North East Institute of Science and Technology (NEIST), Indian Institute of Integrative Medicine (IIIMJammu) and eminent chief scientists from organisations engaged in active drug discovery. Spread over multiple sessions, the conference was vastly popular with the unique theme and global participation. The conference highlighted the growing aspects of drug discovery platforms and the promise of a bright future in the years ahead

‘Make-The-Case’, an initiative by Centre for Social Sensitivity and Action (CSSA) at the Goa Institute of Management has been chosen as good practice by the United Nations Office of South-South Cooperation and has been included in the compendium entitled ‘Good Practices in South-South and Triangular Cooperation for Sustainable Development –Volume 4’.

In 2020, the ‘Make the Case’ competition was introduced. It was developed and put into action by the Goa Institute of Management’s Center for Social Sensitivity and Action (CSSA), Commitments Accelerator for Plastic Pollution (CAPP), Ocean Recovery Alliance (ORA), and Indian Plastic Institute (IPI).

The competition’s goal

was to raise awareness of plastic waste in India and to encourage discussions on its solutions. The objective was to persuade young people to become interested in issues of sustainable development and to make them green crusaders of their respective institutes.

Dr. Ajit Parulekar, Director of GIM said, “I am very happy to note that the collaborative effort of CSSA has been recognized by UNOSSC as evidence-based good practice for SDG 12.

The volume released showcased over 130 development solutions that have demonstrated crossboundary cooperation and knowledge transfer between countries of the global South and which are highly adaptable to local economic

and social conditions. I am pleased to know that from India, we are probably the first Business School who have been recognized for our effort by a UN entity”.

The ‘Good Practices in South-South and Triangular Cooperation for Sustainable Development publication series documents the incredible work that is currently happening in the global South. Two seasons of the Make-The-Case competition have been held so far. Instead of concentrating on completely fresh startup concepts, the competition in Season 1 (2020) focused on programmes and innovations that have already been implemented and have the potential to be scaled. In total, 165 teams signed up for this contest. Moving this initiative

to a national platform, students from across the country had the opportunity to participate in season 2.

CSSA Chairperson Prof. Divya Singhal communicated that “The objective of the competition was to generate awareness about and discuss ways to tackle plastic waste in India. The aim was to nudge youth to take an interest in issues related to sustainable development and make them the green crusaders in their respective institutions”.

The competition is distinctive because it involves knowledge creation, knowledge transmission, and action. The competition's lessons have successfully demonstrated that plastic waste significantly affects public health

Goa Institute of Management’s ‘Make-The-Case’ Initiative chosen as Good Practice by the United Nations Office of South-South Cooperation

Paul Davie, Vice President, Schrodinger addressing the conference

Conference participants

THE GAME OF VALUE CREATION

The Game of Value Creation by Karl Yaacoub helps you enter the world of active investors who buy businesses that present significant opportunities for value creation and turn them into success stories using a tried and true method. As a result, one can profit from the tactics used by the big fish in their own industry.

The deals that Yaacoub has worked on as a deal maker have been in the technology, chemicals, healthcare and educational sectors. The major investment banks, private equity firms, sovereign wealth funds, management consulting firms, family offices, and law firms have all provided him with a wide range of professionals with whom he has worked closely. One of his most valuable resources is his network of friends, investors, and co-workers around the world.

The author breaks into the valuation tactics of large firms and ingenious investors, who frequently operate with longer timetables, broader picture aims, and distinct missions, with an emphasis on legacy. Through his personal experience as a private equity investor, a wide range of sources, including those from the fields of leadership, psychology, traditional business strategy, financial management, and more.

The Game of Value Creation offers you a serious yet fascinating pathway to the big leagues so that your company can achieve its highest valuation ever by turning the topic of corporate value creation into a quick and practical read.

This book explores the intricacies of, leadership development, enablers of generating corporate value, leverage, governance and more, while providing useful guidelines and practical actions for raising valuation. The structure that the author

suggests emphasises the expansion and efficiency a business can achieve through existing and future capabilities, the optimisation of resources to maximise organisational benefits, and the necessity of protecting a business so that it can compete in the long run, with or without its current leadership.

Yaacoub discloses the guide to building a business in a broad spectrum, yet keeps its attention on a central message of long-term success and strategic expansion. This is a must-read for any entrepreneur or company leader since it offers lessons and insights that can be applied to organisations of any size. On Amazon, the book has become a bestseller and is currently ranked as the top book in the categories of financial risk management, budgeting, and finance.

Karl Yaacoub has over 11 years of experience in investment banking and private equity. He began his career with a British multinational financial institution, where he completed assignments and deals in Asia, Europe, and the Middle East. He then joined a newly formed investment company with a capital of USD 680 million.

As a dealmaker, Karl has worked on deals in many different industries, including oil and gas, chemicals, technology, healthcare, and education

AUTHOR: KARL YAACOUB | PUBLISHER: MINDSTIR MEDIA

MARC celebrates 12 years of business with its flagship event ‘Celebrating Entrepreneurship in Goa’

Mangal Analytics and Research Consulting (MARC), recently celebrated its 12-year anniversary at Taj Vivanta, Panjim, Goa, with a flagship event titled ‘Celebrating Entrepreneurship in Goa’. The program was graced by eminent personalities like Rohan Khaunte, Minister of Tourism, Information Technology and Printing and Stationery, Government of Goa, who was the chief guest. Ralph de Sousa, President of Goa Chamber of Commerce and Industry and Chairman of de Souza Group, guest of honour, and keynote speaker of the event, Aditi Kare Panandikar, Managing Director, Indoco Remedies Limited.

Entrepreneurs and partners across industries were recognised and felicitated for their contribution in building MARC and for their impact on the industry. Media corporations and well-wishers were also recognised for their support to the company. During the event, MARC also announced its recent partnership with US based growth strategy firm, Marabek. A high tea session was also organised for the guests invited to network and be introduced with fellow entrepreneurs and officials.

MARC is a leading global market research and analytics company that provides strategic

advisory services. It has positioned itself strongly in the international market enabling domestic and international expansions, through three key verticals namely Mergers & Acquisitions, Business Performance Analytics; and Market Research and Project Feasibility Studies.

MARC is headquartered in Goa, and has 8 offices located at key destinations – Kolkata, Mumbai, Kochi, Indore, Ahmedabad, Agartala, Pune.

MARC also works with several international consultants to enable cross border trade and internationalisation and has partnered with several companies covering the African and European markets.

This strategic alliance facilitates the growth of companies in the international markets and has helped establish a strong footprint in the US, Canada, and other promising regions.

“It was indeed an emotional and gratifying moment to celebrate the completion of 12 years of MARC. We wanted to take a pause and thank everyone who have contributed

in all these years. A journey which began with a vision to deploy the best practices learnt during my tenure at PWC to the Goan SME; today MARC is serving several PAN India and international clientele. What makes me truly happy is that MARC today is a trusted name for investment banking firms, VCs and management consulting firms across the globe to render the most complex analytics and research solutions sitting right here in our beautiful state of Goa. This allows our Goan boys and girls to get unbelievable exposure while being able to close to their families. Ofcourse we are just getting started and the dream is to make MARC a trusted global brand in the years to come,” said Ashutosh Kharangate, founder of the advisory

MARC celebrated its 12-year anniversary by honouring associates and industry leaders

Ashutosh Kharangate

Team MARC and guests cutting the anniversary cake to celebrate the occasion

Chief Guest Rohan Khaunte lighting the lamp in the presence of Guest of Honour Ralph de Sousa and keynote speaker Aditi Kare Panandikar MD of Indoco Remedies, with Managing Director Ashutosh Kharangate and Director Satish Shinde looking on

Future Ready Tech Events hosts its first Global Tech Summit

Head of Department Computer Engineering, Don Bosco College of Engineering, Goa.

Future Ready Tech Events, a venture of Umang Group, organised its first Global Tech Summit ‘Hello, World!’ last month. The tech event had international speakers and representatives from various trade bodies worldwide, key government officials, investors and decision makers. The Hello, World! virtual event reached the mark of 800+ registrations worldwide.

Keeping pace with accelerated digital transformation the tech event had fireside chats and panel discussions.

The Associate Partners for the event were Zoho, Indo Baltic Chamber of Commerce & Industries, Software Technology Parks of India, Gesia IT Association, Goa Technology Association and Knowledge Chamber of Commerce and Industry. Government of Goa was the State Partner, Business Goa was the magazine partner.

An important hallmark of the technological revolution is the widespread application of electronic and information technology. Its widespread application will open up a vast high-speed, high-efficiency, and high-value world for the human race and will provide an advanced technological foundation to attain a high degree of socialist material

progress, cultural and ethical progress. Promising ideas and suggestions were shared by thought-leaders and technocrats during the inaugural session of the summit. The welcome address for the event was given by Mangirish Salelkar, CEO of Umang Group. He remarked that “India has witnessed a boom in the IT sector and has become well known for IT Outsourcing and it is considered as the favourite of MNCs because of the availability of high-quality raw material, skilled and dedicated human resources.”

Chief Minister Dr. Pramod Sawant was the Chief Guest for the event. He highlighted that the “Government of Goa is working on fixing the skill gap by having various initiatives for skilling, reskilling, and upskilling of IT students and professionals.”

IT and Tourism Minister of Goa, Rohan Khaunte was the Guest of Honour.

Tejasvi Surya, Member of Parliament, India was the Keynote Speaker, and mentioned that “Technology usage has not just enabled better delivery of government and public services but also transformed how we interact with the government.”

Arvind Kumar, Director General of Software Technology Parks of India (STPI) was the

Special Guest; he stated that “India has created the biggest government e-market across the globe. We have created 1.3 billion biometric identities. We need to create requisite software product infrastructure for serving various domains. Civic tech is the most important domain for solving societal problems.” For the Fireside Chat, Andrea Colaco, born and studied in Goa, now at Google as a Senior Staff Software Engineering Manager spoke on how artificial intelligence programming focuses on acquiring data and creating rules for how to turn the data into actionable information and also its ability to perform a lot of human tasks. Today’s largest and most successful enterprises have used AI to improve their operations and gain advantage on their competitors, she added. Further, she spoke about her discovery and inventions in the field of technology at the event and the challenges that she faced. The session was moderated by Dr Gaurang Patkar, Associate Professor, and

There were eminent speakers at the Panel Discussion who shared their knowledge. Rupa Naik (Executive Director, World Trade Center, Mumbai), Clevas Tuscano (President, Indo Baltic Chamber of Commerce & Industries, Estonia), Ralph Francois (CEO and Founder Nuagem INC, Founder Reelcruit, Canada), Jefferson Lynch (CEO, Red Olive and Data Toolkit Company, United Kingdom). The speakers exchanged insights and digital transformations in the IT world, while the session was moderated by Maulik Bhansali (Gesia IT Association).

The event had a product showcase of two companies i.e Goa Miles, the taxi booking application that eases the travelling woes of Goa’s tourists / passengers and locals and help taxi drivers earn more; and The Alpa Kids, which is a playful and educative mobile application where children can learn the essentials like colours, numbers, and alphabets all through games, examples of culture and local nature.

Rohan Warty (Managing Director at Xerviz Wlobal, Secretary, Goa Technology Association, and Co-Founder Wisely HR Co) was the host for the event.

The team at Future Ready Tech Events has also mentioned that they will announce their next event soon. “Rather than viewing digital disruption as worrisome and challenging, we have to embrace the uncertainty and potential that advances in new technologies, data analytics, and artificial intelligence will bring. The pressure to innovate amid technological progress poses an opportunity for us all to rethink the work we do and the way we do it”, said Mangirish Salelkar of Umang Group, founder of Hello, World! event

The HELLO, WORLD! tech event saw international speakers and representatives from various bodies talking on digital transformations in the world of tech

Rather than viewing digital disruption as worrisome and challenging, we have to embrace the uncertainty and potential that advances in new technologies, data analytics, and artificial intelligence will bring

Dr Pramod Sawant, Tejasvi Surya, Arvind Kumar, Mangirish Salelkar, Sujeet Shetty and Rohan Warty

ICAI-MSME Yatra

The ICAI–MSME Yatra which is to cover 75 cities in 75 days reached Panaji on 11th November 2022. The President of Goa Chamber of Commerce and Industry, Ralph de Sousa and Secretary of Goa State Industries Association, Kiran Sirsat flagged off the yatra vehicle in an event organised by the Goa branch of WIRC of Institute of Chartered Accountants of India (ICAI).

Chairperson of the Goa Branch of WIRC of ICAI CA Gaurav Kenkre said that the yatra has been conducted to recognise the role played by chartered accountants in strengthening the MSMEs as the backbone of the Indian economy. “To commemorate

the celebrations, the Goa branch of WIRC of ICAI has organised a series of events. We will focus on local needs of MSMEs and popularise the MSME schemes.”

President of Goa Chamber of Commerce and Industry

Inauguration of Vigilance Awareness Week 2022 in

Goa Shipyard Limited

Brajesh Kumar Upadhyay, CMD GSL inaugurated the Vigilance Awareness Week’ 2022 in the presence of Sanjay Krishna Navhale, CVO GSL, Capt. Jagmohan (Retd), Director (CPP&BD) and Sunil S. Bagi, Director (Finance). For the year 2022, Central Vigilance Commission (CVC) had decided to observe Vigilance Awareness Week from 31st October to 6th November 2022 with the theme ‘Corruption Free India for a Developed Nation’. In line with CVC directives, a series of programs and activities were organised by Goa Shipyard Limited during the week to create awareness and to promote integrity, transparency and accountability amongst its employees, contractors, vendors and general public at large. The inaugural function of Vigilance Awareness Week-

2022 was held in GSL with the lighting of the traditional lamp followed by administering of the integrity pledge by CMD to Directors, CVO, CGMs and other senior executives present during the function.

The Integrity e-Pledge was also downloaded online for the organisation by CMD, GSL. On this occasion, CMD/ GSL, Brajesh Kumar Upadhyay addressed the senior executives and requested participation from all stakeholders to fight corruption and to promote integrity and transparency at work place.

CVO/GSL, Sanjay Krishna Navhale also shared his views on various Vigilance aspects and importance of corruption free governance. The inaugural programme was compered by Lochan Karekar, DGM (Vigilance)

Ralph de Sousa acknowledged the efforts of ICAI in supporting MSMEs in Goa. “ICAI and GCCI routinely have joint knowledge-based events for the benefit of trade and commerce at large. This provides much needed fillip to micro and small enterprises”.

Secretary of Goa State Industries Association, Kiran Sirsat appreciated the gesture of ICAI of compiling, publishing and free distribution of books on Compendium of MSME Policies Goa.

The dignitaries also inaugurated six helpdesks set up

for the facilitation of MSMEs. The helpdesks were manned by experts who provided free Udhyam registration, guidance on schemes of financers like SIDBI and State Bank of India, and guidance on incentives of entities like NSIC, DFO MSME and invoice discounting. Technical sessions were also held wherein the experts guided the MSMEs present on the various support schemes available to them.

A special session was also conducted by CA Yogesh Kulkarni, on financial excellence for MSMEs

Hilton Goa Resort embraced the Yuletide with the traditional cake mixing ceremony which marks the beginning of the festive season.

The soirée began with a signature dance performance by the resort’s management and staff followed by a special performance by the saxophonist.

The guests donned aprons, gloves, and chef hats as they excitedly immersed themselves in creating the merry mixture by combining the spices, nuts, and spirited beverages. The evening saw an assorted menu

curated by the culinary team at the resort comprising palatable small bites and refreshments which were savoured by the guests. A dedicated bar was set up by Maka Zai for guests to relish which was the perfect addition to the sundowner event. On this occasion, Amandeep Singh Grover, General Manager, Hilton Goa Resort said, “It was delightful to host this year’s cake mixing ceremony which marks the beginning of the festive season. The evening was filled with joy, laughter, and many unforgettable memories. While the event was a traditional one, the fun activities and games curated by the staff made the event all the more exciting and cheerful”. With the spectacular ambience of the resort, festive décor, and fare to match the theme of the event, the evening was hugely appreciated

Hilton Goa Resort embraced the festive cheer with a joyous cake mixing ceremony

Brajesh Kumar Upadhyay, CMD GSL inaugurated the Vigilance Awareness Week 2022, in the presence of Sanjay Krishna Nahvale, Capt. Jagmohan (Retd), and Sunil S. Bagi

Ralph de Sousa, President, GCCI along with Gaurav Kenkre, Chairman, ICAI Goa and Kiran Sirsat, Secretary of GSIA inaugurates 6 help desks for MSMEs along with officials of various organisations

Goa, Harshvardhan Bhatkuly was recently honoured with an ‘Award of Excellence’ at the BNI Goa Region Awards function held recently.

The ‘Business Inspiration Award’ for promoting and inspiring the entrepreneurial ecosystem in Goa, was given away at the hands of Rajkumar Kamat, Regional Director of BNI Goa Region and Hemu Suvarna, Director of BNI India.

“The role of Business

Goa has been important in a compact business ecosystem like the one that we have in the state. Over the years, the magazine has made it a mission to recognise entrepreneurs and laud them for their contribution in creating value, wealth and jobs. The journey and relationship of Business Goa and BNI, both having started around the same time, has ensured that Goa’s image as a destination to do business at is strengthened,” said Bhatkuly

Goa Marriott Resort and Spa rings in the festive season with their annual cake mixing ceremony

Goa Marriott Resort and Spa, one of the city’s most soughtafter 5-star destination, hosted a spectacular cake mixing soiree on October 15, 2022. This was followed by high tea spreads, a variety of house wines, and a lot more. The grand event saw residence guests, prominent socialites in Goa, and hotel associates thoroughly enjoying this elegant event.

Guests celebrated the season by donning aprons, gloves, and chef hats. Raisins, glazed red cherries, mixed fruits, black currants, dried apricots, walnuts, and cashews were soaked in a variety of delectable beverages.

Executive Chef Amit Dash and his team showcased high-end cuisine, decadent appetisers, and intoxicating drinks that kept the spirits high throughout the evening. The

desserts served were petite and in keeping with the exciting occasion, thanks to the talented team of culinary experts.

On this occasion, Gaurav Apte, General Manager, Goa Marriott Resort and Spa expressed “The resort is known for creating an ideal atmosphere for an uplifting evening of upscale hospitality with delicious food and drinks; it gives us immense pleasure to have our guests participate in the annual ritual and create unforgettable memories”

Founder-Editor of Business

Harshvardhan Bhatkuly awarded by BNI Goa

L to R: Rajkumar Kamat, Harshvardhan Bhatkuly and Hemu Suvarna

Senior academician Oscar Gonsalves felicitated for his service to education

Senior educationist and administrator of Sharada Mandir School, Oscar Gonsalves was recently felicitated at a public function held in Panaji, recently.

The chief guest for the function was Dattaraj V Salgaocar, industrialist and Chairman of the Sharada Mandir School Trust. Recipient of the prestigious Jnanpith Award, and prolific Konkani writer Damodar Mauzo delivered the keynote address and was the guest of honour at the felicitation event.

A book, Oscar’s Odyssey, enlisting the achievements and milestones in the life of Oscar Gonsalves was released at the function. The book’s editor Mario E. Fernandes; chairman of the Sir Oscar Felicitation Trust, Jose Remedios Pereira; and secretary of the Felicitation Trust, Sonali Kawathankar heaped praise on Gonsalves and mentioned the contribution of the academician in their respective careers.

Addressing the audience, Dattaraj Salgaocar, who is also the managing director of VM Salgaocar Corporation Pvt Ltd, said, “Despite being forthright, Oscar Gonsalves, a devoted educator, offered a soft touch to Sharada Mandir School. He shared my vision and with his unwavering devotion and leadership skills, overcame

every challenge in his path to help the faculty and students while also being aware of his duty. During the pandemic crises, his commitment and never-say-die attitude were most evident. He has significantly raised the bar of education at the school.”

Speaking at the occasion, Damodar ‘Bhai’ Mauzo, who like Gonsalves, hails from the village of Majorda in Salcete, said, “Oscar has lived a full life, giving of himself, his village, the people, and the neighbourhood. It is commendable that he is being recognised for the value of his contributions to the field of education and the effort

put

sense of community among the students. Just like his mother, who was my teacher in school, Oscar has made a difference to scores of students.” Mauzo added, “it is not important how long one lives but rather whether or not those years were spent in a fulfilling way.”

Fr. Alfredo Vaz led the audience in prayer before Reena Thakur, a faculty member, performed a prayer dance, and then a student, Aarika Raikar, performed a dance piece at the function.

Editor of the book Oscar’s Odyssey is London-based Mario E. Fernandes, a student of Gonsalves. Mario reminisced about the good old days being inspired by Gonsalves. He also described how challenging it was to co-ordinate from London with those in Goa while compiling and editing the book. Sponsor of the book, Edwin Menezes of Edcon Real Estate spoke about Gonsalves’ passion for education and grooming young talent.

In his thanksgiving address, Oscar Gonsalves praised his family, the school, and his students. “We are the results of the upbringing that we have received from our families; and parents have a significant impact on how our lives turn out. We are what we are because of the ideals that our parents instil in us”. Gonsalves

commended Fr. Basil Andrade for opening numerous schools wherever he was deputed. “Fr. Basil offered me a position as a teacher in his school, which I accepted reluctantly; but soon I began to enjoy the teaching profession. I was inspired by and learned how to be a good teacher from the inspiring stories narrated to me by Fr. Basil.” Gonsalves also thanked everyone who have contributed significantly to his development as a teacher, headmaster, and administrator.

Gonsalves also had a special mention to state government officers, like former Director of Education Department, Mrs Suman Pednekar; and former Jt Director of Accounts late J N Prabhudesai, who have facilitated reforms that have benefitted teachers in the state.

Former students of Gonsalves sent messages from all over the world, with Young Perry from London sending a song in Gonsalves’ honour. Nila Mohanan, a former IAS officer stationed in Goa, also sent Gonsalves a video message in which she praised his abilities as an educator. Secretary Sonali Kawathankar proposed the vote of thanks; and Ashford Gonsalves expressed his appreciation. A portrait of Gonsalves, created by artist Dilesh Hazare, was handed over to the man of the moment

A book Oscar’s Odyssey was released at the function, which listed out the achievements and milestones of the educationist

Oscar Gonsalves

that he

forth to create a

Gonsalves thanked everyone who have contributed significantly to his development as a teacher, headmaster, and administrator

Oscar’s Odyssey book release. (L to R) Sonali Kawathankar, Mario Fernandes, Edwin Menezes, Jose Remedios Pereira, Damodar Mauzo, Dattaraj V Salgaocar, Oscar Gonsalves and Sandra Gonsalves

Insights on the uniform concept of Financial Planning

In today’s fast paced life, is financial planning the key to a healthy and secure future? The author goes on to elaborate

Financial planning is a way to make sure you can reach your life goals by defining your relationship with your money well. You might want to buy a house, save money for your child’s education, or plan for your retirement or to pursue a dream you may have.

Financial planning is about taking control of your financial future and deciding where you want to be in 10 years or 20 years. By creating written financial plans, you will have specific targets and objectives that will help guide how you spend money now so that when it is time to retire or any other big event, you are financially prepared to do so. Let us understand the nuances and benefits of financial planning:

Helps you determine your short and longterm financial goals

It is essential to figure out what you want to achieve in the next few years. Do you want to buy a car? Do you want to travel abroad? Are there any major purchases that need to be made, such as buying a house or are you planning to start a family?

Each of the above questions has financial implications to it – and become your financial goals. Once these needs are identified, we can determine how much money will be required for each goal. It is also important that these goals are aligned with one another so that they don’t conflict with one another. This can help ensure that both short-term and long-term financial plans are being created simultaneously, For example, a couple may decide together that they want their children to go to college abroad after high school, but they also want to pay off their home loan before that. Hence they need two separate portfolios for these two goals – even if fruition of those goals may be in the same year.

There is a lot more to Financial Planning! It includes budgeting, investments, insurance, taxes, retirement, and estate planning, amongst other factors. Financial planning involves all the steps that you take to ensure that your life is in good financial order. It includes budgeting, investments, insurance, taxes, and retirement planning. Budgeting is tracking your income and expenses so that you know how much you have to spend each month on living expenses like rent or home loan EMI, as

Financial planning is not just for the wealthy. It is for everyone. Even if you are starting with a small amount of money, you can still make smart decisions about how to use it and grow your wealth over time. You need to find the right financial partner who will not only help you set your financial goals but create a comprehensive map to help you at each stage

well as personal items like groceries or entertainment items such as movies or going out with friends.

Investments are buying assets that are expected to increase in value over time, such as stocks, mutual funds or real estate. Insurance is a means of protecting yourself from financial loss; examples include health insurance and term insurance. Taxes are the amount of money that you pay to government entities.

Financial Planning will help you make sound financial decisions today to help you be more financially secure tomorrow.

Financial planning is not just about money. It’s about setting goals, creating a road-map, and then following through on your game plan. Achieving financial security takes time a long-term process that requires patience and perseverance.

Financial planning is not a one-time event; it’s an ongoing process of making decisions that affect your finances today

and in the future. Your actions today will determine how successful your future will be, financially speaking.

Everyone’s life goals are different, but with smart planning, income levels are just one factor!

We have seen that financial planning aims to help you improve your finances by identifying how much money should be saved for various purposes, such as buying a house or saving for retirement.

In addition, it also focuses on reducing unnecessary expenses to ensure that a small amount of income can go a long way in meeting our day-to-day needs while still having enough money left over at the end of each month (or year) for the purpose of savings.

Conclusion

Financial planning is not just for the wealthy. It is for everyone. Even if you are starting with a small amount of money, you can still make smart decisions about how to use it and grow your wealth over time. You need to find the right financial partner who will not only help you set your financial goals but create a comprehensive map to help you at each stage.

To me, in summary, a healthy financial life is a result of five factors:

• Know your needs, wants and dreams –prioritise them into goals.

• Pursue a separate plan (read portfolio) for each goal.

• Start early. Invest regularly.

• Follow your asset allocation.

• Don’t let emotions come in the way of your investment discipline

The writer is the Co-Founder & CEO at Epsilon Money Mart Pvt Ltd. A Management Graduate, Abhishek has spent the past 21 years of his professional life in pursuit of excellence in asset & wealth management. He has been associated with reputed companies like HSBC GAM (India, South East Asia), PGIM AMC, AMEX Bank, HDFC AMC, UTI in various roles including Board Membership and leading Business Management, Sales, Marketing and Product Development.

Ladies! Empower Yourself with Financial Literacy

One of the strong characteristics of Indian women is the habit of saving. This is mainly done in the form of cash or physical gold. Demonetisation of high value notes by the government has revealed the tremendous capacity of the Indian women to hoard cash unknown to their family members. However, they do not distinguish between savings and investments without realising the loss that they are incurring. The money held in cash would have doubled, tripled or multiplied even more if the same would have been invested properly in different types of financial instruments such as bank deposits, government saving schemes, mutual funds, stocks and shares and such other investments.

Another characteristic of Indian women is to rely on their fathers or their husbands to make financial decisions even though they work or hold senior executive positions. This dependence makes them vulnerable and disempowered in day-today life. Taking responsibility and control of your money is one of the big steps towards feeling empowered.

Yet another characteristic of Indian women is that they are unaware of the investments, financial liabilities, insurance and other financial decisions of the family. There are instances where, after the sudden death of the husband, the lady hardly has any idea about where and how her husband had invested when he was alive. To avoid such a situation, women should insist on being part of the financial planning process for the family from the start. For self-esteem, irrespective of economic status, women should stay engaged in productive activities that might give an income, be it while being a homemaker or when stepping out to work. For better marital relationships, any decision on spending, investments or any other financial matter should be taken in consultation with each other.

In India, on an average, women live a couple of years more than men. With the result, most women live alone for a few more years. With their relatively less knowledge about finance and investing, they face problems. So, it is important that women start learning about investing and participate in the family’s financial planning process.

All these issues can be resolved by enhancing the financial literacy levels of Indian women. This is not very complicated and does not require one to go and take a

long duration course in finance. There are some simple measures that one can adopt to enhance knowledge about personal finance and investments.

Irrespective of your age, you should take the first step in financial independence by personally visiting banks for deposits, withdrawal and other transactions.

Learn internet banking to carry out bank operations from home. In the process you will learn a lot of things about banking, cyber security, password protection etc.

Use ATM cards, credit cards, and GooglePay freely. This will boost your confidence.

Start stock investing by opening demat account through your bank account. Immediately exchange passwords (P/W) of demat account, bank accounts, ATM, credits cards with husband and vice versa and write down safely. Death comes unannounced as in case of recent pandemic.

Meet your family tax advisor, financial planner, legal advisor in person to keep you updated with the latest position of your finances. This will also help you to understand where your family stands financially to live within means. In today’s world of show business in Goan closed society, men tend to hide their real financial position about earnings and borrowings from the wife. Be aware of your husband’s earnings and financial liabilities and manage your household accordingly. Learn to live within your family’s means.

Based on this information, you should identify your family’s short term, midterm and long-term financial goals in close consultation with family members. Now the next step would be to plan and execute the same.

Insurance: Your first priority should be to have adequate insurance cover on the life of your husband on whom your family depends to secure your and your children’s future –education, marriage etc in case of untimely death. Ideally, insurance cover should be 20 times of your annual expenditure. You can have a ‘term life policy’ for this amount which has minimum cost. In case your family is financially dependent on you, your life should be covered accordingly as well.

House: If you are living in a rented house, plan for your own home. To encourage women to have houses in their own name, financial institutions offer concessional rates

to women buyers and also for stamp-duty. Irrespective of this, you should ensure that your name is included as joint owner of the property. Apart from emotional security, a house provides appreciation in value.

Will: If you do not wish your children to fight over property after your death, execute a Will. A Will is a legal document which provides the manner in which a person’s property will be distributed after death. A Will can be executed on a plain paper in one’s handwriting in the presence of two witnesses. No stamp duty is required. Registering the Will will help further for smooth inheritance and clear title.

Emergency Fund: Create an emergency fund, education fund, marriage fund for your children through systematic investment plan in mutual funds. Build an adequate retirement fund through regular savings to live happily in old age without depending on your children. Discuss this with your financial advisor.

Investments: Learn about investment in mutual funds, government securities, stocks, real estates, gold etc. This is a slow learning process. Discuss money and investments with friends and family; watch business channels on TV, read investment magazines regularly. Lot of material is available on the internet to build your knowledge of investment avenues.

Nominee: Ensure that your name is registered as a nominee in all bank accounts, life insurance policies, mutual funds, housing society membership etc. Do not rely on your husband.

Health Insurance: Have an adequate health insurance cover which will take care of medical needs of the entire family.

There are many other things that women should carefully follow if they want to avoid getting into a financial mess. I have listed some of these matters.

Do not sign any blank paper even if requested by your father, mother or husband.

Do not give general power of attorney to anyone including brother, father or husband, unless required for specific purpose.

Do not stand surety or guarantor for any type of bank borrowings even for your own children.

The Columnist is a senior Chartered Accountant and has authored many books on accounting and taxation. Email: verlekar@bsnl.in

The writer lists out the ways by which women can enhance their knowledge about personal finance and investments

Inventory Shortages in Retail

As a business owner, how many times have you told the customer ‘sorry we don’t have it’, when a customer has asked for a particular item, that was not available with your store? Or offered a substitute item and the customer purchased it halfheartedly. Or if you were a bit considerate to the customer, then arranged for the item from a competitor’s store; or else told the customer ‘I will get it for you later’; or simply allowed the customer to walk away to your competitor. The cause for this kind of behaviour on part of retailers arise due to improper inventory management of merchandise of the store. Customers are very demanding thereby expecting every item of their need to be available at their store and retailers must take extra efforts to ensure that they meet these expectations of their customers, all the times, calling for astute inventory management skills.

Inventory management is one of the critical pillars for success of retail businesses. Inventory shortages are bad, yet they do happen. Here are a few examples how some of the retailers firefight inventory shortage situations, knowing very well the implications of shortages on customers’ satisfaction.

Case 1 – Francis, the friendly neighbourhood chemist, who runs his medical store for decades has learnt the art of convincing customers to wait till the evening or the next day for the required item, that he may not have in stock, unless it is an urgent requirement of the customer, in which case he himself will tell the customer to go to other chemist and buy the medicine as it is necessary to take it on time. He will frankly tell the customer that while he is having most of the items required, he is not having in stock a particular item. And he will add further ‘I can bring it for you by evening and I will drop it at your home, or I will give you a call you can collect it’. He not only gains the confidence of the customer but also goes a step ahead to ensure that he does not lose the customer.

Case 2–Satish, the friendly neighbourhood

Do not share your password/s.

Do not sign any paper blindly unless you have understood its implications.

Do not get emotional and gift or transfer your home in which you are residing to your

kirana store wala, is yet another retailer who tries to be diplomatic with customers. When a customer finds a particular item missing from the store, the customer will ask Satish, ‘Is the item available?’ and Satish would say – ‘Sorry, it is not there. The order was placed one week back but the supplier has not supplied it till now. May be, they too are having some genuine problems of stock shortages therefore they did not supply it. Normally they…’ and he continues with the story…while the customer is busy picking up other items s/he wants. Satish knows how to convince the customer, though for short period it may be. But, what he does not realise is that not all customers are going to believe him and certainly not every time. The shortages of goods is not going to help him and he better pull up his socks as regards ensuring that there are no shortages at any given time in his store.

Case 3 - Nikhil runs a super market on a busy street with adequate parking space. He is blessed with a sweet tongue. Thus he gets a good footfall to his store. He is extra careful about inventory holding and refill, he also believes a shortage is a lost opportunity and lost customer. However, in spite of taking all required care to ensure that there are no shortages, invariably shortages do occur, most of the time due to spurts in excess demand. So what does Nikhil do in such situations? Does he tell the customer ‘Sorry it got over’, No. He goes a step ahead to ensure he meets customers’ requirement. He will tell the customer ‘Please wait I will check inside in the store room (in spite of knowing for sure that the concerned item is not available in the store) and then going inside he will assign his person to go to some other store and get that item and hand it to the customer. He will do everything to ensure that the customer gets the required item. But in spite of all his efforts, if he cannot get the item, then he profusely apologises to the customer as though he has committed some kind of a crime. Further, he will offer substitutes with special discounts to this customer, with good intent of meeting the customer’s needs.

children during your lifetime.

Apart from all this, remember that health is wealth and is integral to financial well-being. Women, being the foundation of the family should take care of their health

Case 4 – Bhiku runs his kirana store for many years now. From a small mobile cart to a full-fledged retail store, the growth has been good. With growth, apparently it appears like complacency has set in. Once a very active and helpful shopkeeper, Bhiku has now become quite docile and indifferent. The location of his shop is one of the best in the locality as it is right at the corner of four very busy streets crossing with adequate parking space in front of his store. The footfalls to this store and neighbouring businesses too are quite high.

While all things are in favour of Bhiku’s store, his inventory management seems to have gone for a toss. Invariably, every single customer coming to the store is found complaining of non-availability of required items. And, Bhiku pays no heed to these complaints. He simply says ‘yes yes, the supplier has not supplied the goods’. In case some customer asks for a particular item, he will reply while sitting from the cash counter ‘if it is not there then it is not available’. A close look at the inventory holding of this store shows that there are irregular patterns. While certain goods are over stocked, with two to three shelves overcrowded with units of one product, the other products are missing. It is only a matter of time that a strong competitor will come up nearby and customers will move away from Bhiku.

Well these are some fire fighting techniques adopted by retailers to keep the show going on. But does that work all the time or atleast most of the time? No, it won’t work. If inventory shortage issues continue, then, at times, you may even lose the most loyal customer to competition for want of adequate stock. Customers excuse a shortfall few times; not all the time! The amount of goods stored – too much v/s too little – i.e over stocking v/s under stocking matters a lot. Proper management of inventory facilitates retailers to meet customer demand without running out of stock or carrying excess products, thereby preventing loses to business.

Thus, it is prudent for any retail business to take extra efforts to maintain optimum inventory of goods at all times

with annual checkup and with proper diet, regular exercise and healthy lifestyle with composed temperament.

Strength of the family is a strong knowledgeable woman. Be One!

The writer speaks on inventory shortages in the retail industry and the way various retailers handle this challenge

The writer is Founder Director, Saldots Academy, corporate trainer and facilitator. He is former Chairman, Goa Management Association. Email: pradeepsalgaonkar@gmail.com

Dear Businesses in Goa, Meet IIT Goa

The writer explains how the long-term benefits of a research college to the business economy make IIT Goa an attractive proposition for local businesses

The Indian Institutes of Technology (IIT) are a group of twenty-three public engineering and management institutions located across India. They are considered among the most prestigious institutions in India for engineering and technology education and research. With post-graduate and Ph.D. funding for research, the IITs are the epicenter of emerging research in India.

In 2014, a center-funded IIT was allocated to Goa and began operating from a temporary campus in Farmagudi. Yet, eight years later, Goa struggles with creating a permanent campus, which would allow the IIT to begin operations in earnest and start flourishing. Having a permanent campus will allow IIT Goa to start its permanent research labs and can also begin attracting world-class talent to work and research in these labs.

One of the struggles that Goa seems to be having with the IIT is a lack of understanding of what a top research college brings to a state’s economy. While a Centerfunded research college would be welcomed with open arms anywhere in the world, some Goan interests seem to question the value of an IIT to Goa.

With that in mind, let us look at some of the long-term and short-term effects of an IIT on the state economy – with a special emphasis on local businesses and how they can take advantage of a Center-funded research college.

This analysis is based on not just other colleges in India (like IIT Madras or IIT Delhi) but also, the effect top colleges in the US have on the State economy (having seen this effect firsthand in Boston while interacting with colleges like Harvard, MIT, and University Of Massachusetts).

Long-Term Benefits

The biggest long-term benefits are the effects a top college can have on the knowledge ecosystem of a state. To understand this, let’s break this down into two parts:

1. Macro Economy

next 30 years are expected to be the ‘Age of Biotech’. If Goa is to have any Biotech presence in the technology world, does Goa have the knowledge systems in place to be competitive in this field?

For example, IIT Delhi has started investing in Quantum Computing. As this field takes off, will Delhi and the surrounding ecosystem benefit from it? It absolutely will! There is no doubt that startups and companies in the field of Quantum Computing will gravitate toward IIT Delhi and want to be within that ecosystem.

Similar examples are emerging in other IITs, including the newer ones like IIT Guwahati. This IIT has recently started a ‘drone tech’ center and it's quite likely that it might become the ‘Drone Hub’ for India as investments in drone technology continue to grow.

Which leads to the million-dollar question: What are Goa’s investments in the technologies of the future? As Goa tries to compete with the other states in knowledge-economy fields, what will Goa be best at? Recent developments in Goa have shown a hint of excellence emerging in Goa in the field of Pharma and Biotech. Will Goa capitalize on this and invest in this upcoming ‘Age of Biotech’?

would be Goan businesses working with the professors and students (both post-graduate and Ph.D.) in tackling various industry problems. This is a win-win for both; local businesses and researchers.

For example, a pharma company operating in Goa could easily work with the students via internships to tackle specific industry-oriented problems. This creates excellent opportunities for not just the local businesses, but also for students. These young students can bring energy and an innovative vibe to local companies.

The dream scenario of course, would be to have startups sprout around the IIT. Such startups usually happen when postgraduates and PhDs emerge from the research labs to form their own companies. To stay connected to the college and the labs, they usually set up shop in close proximity to the college.

For example, this is why Boston is the Biotech capital of the world – because most bright ideas emerge out of the MIT/Harvard ecosystems and begin life around the college area.

Goa just created its first Biotech unicorn (Molbio Diagnostics). If Goa is to create and attract more such unicorns, could they be off-shoots of the research labs from IIT Goa?

2. Magnet for Companies

One of the greatest benefits of a research college is the collaboration that can (potentially) happen between the college and local businesses and startups.

The simplest form of collaboration

Short-Term Benefits

Currently, Goa is mostly a tourism economy. With mining halted, it is safe to say Goa is ‘all-in’ on tourism. If Goa hopes to have a chance to transform into a knowledge-based economy in the future (rather than a manufacturing-based one), a top research college is its best bet. The Alden Do Rosario is a Boston-based entrepreneur and investor and is currently CEO of user-testing platform ‘Poll the People’. He is the 2016 winner of the University of Massachusetts Outstanding Achievement in Entrepreneurship award from the College of Information and Computer Sciences. Alden is regularly featured as a guest speaker on Entrepreneurship at the Isenberg School of Management. Email: adorosario@chitika.com

While I understand it is difficult for most people (especially politicians!) to ‘see the forest for the trees’, here are some shortterm immediate benefits. These short-term benefits can be immediately activated as

soon as construction for the permanent campus begins.

1. Job Opportunities

Initially, it might be jobs and opportunities related to the construction of the permanent campus (e.g. supplying material, labour, etc). This is not a major opportunity – but more a one-time construction-related opportunity.

Over the longer term, An IIT with its 5,000+ students and staff creates Centerfunded job opportunities for locals. While these are mostly admin jobs, it is nonetheless an opportunity that locals can compete for. In other IITs like IIT Madras, almost 60% of the admin staff comprises of locals. If Goans compete for these jobs, similar numbers can be expected.

Side note: Opportunity does not equal reservation. These are Central-government jobs that Goans have a unique advantage for – but there will be heavy competition for these jobs (since all Indians are eligible).

2. Slight increase in Goan students

Anytime a top college comes up in an area, it results in inspiration for locals. While

there is no reservation for locals in IIT, it certainly inspires students (especially girl students) to strive for entrance. This was clearly demonstrated in BITS Goa where the presence of Goan students in BITS increased dramatically after BITS started an Institute in Goa. Goa used to send one student to BITS Pilani every two years in the 1990s. More recently, Goa sends over 20+ students per year to the BITS system.

That level of increase is unprecedented for a small State comprising just 0.13% of the Indian population.

3. Increased Economic Activity

One can expect increased economic activity around the campus as 5,000+ students/staff will need goods and services from the local economy (e.g. fish, vegetables, repairmen, plumbers, etc). The college becomes a major driver of economic activity around the campus and can sometimes create the concept of ‘college towns’ (aka: the entire economy of the town is driven by the presence of the college). A good example of this is Pilani in Rajashthan whose entire economy is driven by the BITS.

Conclusion: With mining coming to an abrupt halt, Goans should take this once-in-a-lifetime opportunity to invest in a knowledge-based economy. Why now? Because if not now, then there is a real risk that Goa will transform into a manufacturing-based economy and all the side-effects that entail (think: coal power plants, chemical factories, etc)

With mining coming to an abrupt halt, Goans should take this once-in-a-lifetime opportunity to invest in a knowledge-based economy. Why now? Because if not now, then there is a real risk that Goa will transform into a manufacturing-based economy and all the sideeffects that entail (think: coal power plants, chemical factories, etc)

The New Brave New World!

The world’s worst cliché is that an organisation’s performance is sigma top performers within the organisation. An equally miserable cliché is that no organisation consciously hires underperformers. This begs the question: when the organisation hired, did they make a mistake in assessing the individual’s potential, or did the requirement of the organization change after hiring, or did the organization demotivate a person enough to under-perform?

If I may draw on my four decades of experience in the corporate to choose the right question, I’d say, it is all of the above. The organisation did not align the individual’s capabilities with the deliverables expected of him. Given the dynamic nature of business in the 21st century, the customer was changing his requirements on the fly. And caught in the whole flytrap of growth, profit and selling stories to the Board, the individuals become shadow performers in this show-must-go-on circus. If the show gets rave reviews, the shadow performers are given a face and that’s the reward. If the show is berated, the whole cast is buried in unmarked graves.

When did people who are supposed to be an organisation’s biggest asset become so irrelevant? If we look at history, during the Industrial Revolution, employees were important only in so far as their productivity. For the employees, the job was important in so far as it gave them a livelihood. Employees didn’t stay because they were loyal. Organisations didn’t keep them because they were benevolent. Options were limited for both organisations and employees, so they stayed together.

loyalty on either side, yet again.

And then came this era of Social/Digital Revolution. By its very nature, this beast was all about living in the public eye. And that meant posturing, that meant living the way they wanted to showcase, that meant living a lie. Fake is the new value in this whole eco-system. So now it was no longer about earning a livelihood or about the standard of living. It became all about embracing an alternative Universe which fitted one’s avatar. So it became cool to say, oh we quit the rat-race of the corporate to graze cows in the Himalayas! And boy! has Instagram provided just the right platform for these posturing professionals.

I browse Insta as obsessively as Insta is meant to be browsed. And what I have learnt in the process is that the language of the posturing professionals is PLATITUDES. I’m sorry I didn’t really look for an alliterative catch-phrase, it kind of came together on its own and the more I stared at its inner value, the more its anti-truism became fascinating. So now where are we on the hiring-firing dynamics?

actually learnt nothing; so for now they have discovered the joys of home-schooling their progeny. Taking their pet with them to work on that one-day-in-the-month when they are expected to physically report at the company’s office has become as non-negotiable as work-from-home on other days. You see, all these have become the yardstick of this new mantra of the Social/Digital revolutionaries. WE WANT QUALITY OF LIFE THAT MEANS WE EXPECT ORGANIZATIONS TO PROVIDE US THE CONTENT TO POST ON INSTA!

Is this a reasonable and viable expectation? Reasonable from the employees’ side and viable from the organisation’s perspective? Loyalty in any case has always been missing from either side in this whole hiring-firing scenario since the Industrial Revolution. So what is the new glue that can align both these expectations?

I should make it clear here that since internet-related companies are the largest employers who hire and make headlines when they fire, whatever we postulate here is in their context only.

Here, it is perhaps safe to say that employees are adamant about workfrom-home as non-negotiable. They have suddenly discovered that their parents wasted humongous amounts of money ‘sending them to schools’, where they

During the much-hyped Internet revolution, a small dynamic shifted. Employees no longer worked in organisations for livelihood. They did so for a certain standard of living. Their forefathers had ensured during the Industrial Revolution that their families’ basic needs were provided for. So work now was no longer for three meals a day; it was for the dessert. Employees stayed only if organisations continually improved their standard of living. Organisations kept them to deprive their competition of access to their trained workforce. There was no The columnist is co-founder of bakery and restaurant business (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in

Don’t for a moment think that this Social/ Digital Revolution is a fad. The movement will intensify and gather momentum by the minute. Me thinks the best way for organisations to hire successfully is not by perusing boring templated resumes but browsing the candidate’s social media stature, presence and influencing power. Me-also-thinks that the most attractive organisations, going forward, that will attract best talent are those that remove the GENDER column from their application. And replace it with latest link to their Google Timeline

The writer elaborates on the Digital Revolution and the changes that it has brought to the work scenario

Don’t for a moment think that this Social/Digital Revolution is a fad. The movement will intensify and gather momentum by the minute. The best way for organisations to hire successfully is not by perusing boring templated resumes but browsing the candidate’s social media stature, presence and influencing power

Is goal based financial planning the right way?

The writer lists out a few steps that one has to take in order to meet their financial goals

Goal based planning is the process of prioritising a person’s financial goals and determining the optimal plan to fund them; this plan will help in achieving multiple goals across different stages of life. Some of the common goals would be children’s education, children’s marriage, retirement planning, and estate planning. And of course, there would be a few people who would also add travel, building a home etc as their goals. A goal of retiring at a certain age and traveling the world is merely a starting point. Meaningful planning then probes deeper into where you hope to travel, how many trips you would like to take each year, and who would be traveling with you. Once you list down all your goals, it becomes much easier to then prioritise which of them are essential needs, which are important wants, and which are aspirational wishes.

Why is it needed?

Many investors think that saving money will ensure financial security and success in achieving goals. However, saving money is not enough. We have multiple goals in life. To achieve your long term financial goals, you need to grow your money by investing it. Your money will grow more, if you invest over a longer period of time – this is known as power of compounding. Financial planning will help you estimate how you need to save for different goals, where to invest your savings and for how long to invest.

Financial planning also prepares you for unexpected adversities e.g. unexpected loss of employment, serious illnesses, untimely death etc, which may put your and your family’s financial goals at risk. Having a contingency fund in liquid investments, adequate health, and life insurance covers

are also part of financial planning.

In investing, having well-defined financial goals help tell you the following:

• How much money you need to achieve this goal today?

• How much more will this goal cost in future (considering inflation)?

• How much time is left to save and invest for the goal?

• How much you need to invest (regularly or one time) to achieve the goal?

And these are important questions as it allows you to focus and invest with discipline.

There are a few steps involved for goal based planning.

1. Setting goals: Laying out all the goals in life and estimating how much money would be needed to fulfil those goals

2. Budgeting your expenses: One needs to assess how much assets and liabilities they have and come to a conclusion on how much they can afford to invest after all the monthly expenses and paying tax.

3. Calculating your risk appetite: Risk and returns are inter-related, as per ones age they need to calculate how much risk they can take and how long they can stay invested to reap the best returns. It is important to determine long term and short term goals under this parameter.

4. Asset allocation: Different assets have

different risk profiles. For example, equity has a higher risk profile compared to gold or fixed deposits. Remember to invest in different asset classes for different goals based on your time horizon.

5. Preparing the plan: This is the final step of the process, once you list down and segregate the above four steps the last step becomes very easy and convenient to understand and make the plan. Sometimes you will realise that you need to save/invest more to achieve your goals and you may not have that kind of income right away but you should always start with what you can right now. Don’t wait for your income to increase and then start the investment plan, it doesn’t work that way.

Discipline and Focus are essential in achieving Financial Success Focus and discipline are two most important attributes for achieving success in any aspect of life. Focus will prevent from getting distracted from your goal and discipline is how you maintain focus as you work towards your goal. After a plan is made the execution at that very moment is crucial, sometimes a plan that is made today may not be the ideal plan after 6 months or 1 year. The earlier you start investing, irrespective of amounts, higher is your chance of succeeding in your financial goals. This plan should also be reviewed and rectified if needed at frequent intervals to achieve the goals and ensure maximum returns. Having a goal-based financial plan, saving, and investing according to your financial plans, will help you ensure financial security and achieve different goals in a time-bound way. So make a plan as per your goals or consult a professional who will take you through this process and achieve financial success

It’s the Time to Labour! Or is it?

Is it time to labour or is it yet another false alarm? Should you head over to the hospital or wait at home until a more pressing signal alarms you? These are only a few of the many doubts that surface on the anvil of delivering your baby

L

abour is defined as the series of continuous, progressive contractions of the uterus that set off the process of birthing the baby. Ideally, one is expected to go into labour after the 37th week of pregnancy. As the due date approaches, mothers-to-be are fraught with an unsettling apprehension – is it time yet?

Certainly, the mixed signals don’t make it any easier. By mixed signals, we are referring to the occurrence of false labour pain. Also known as Braxton Hicks Contractions, this pain is described as a ‘tightening’ in the abdomen that does not cause dilation. In other words, during false labour, the pain does not increase in duration, intensity, and frequency, and is generally irregular. How then, does one identify when true labour occurs?

True labour, as the definition suggests, is marked by progressive and continuous contractions. This implies that the contractions will occur at regular intervals, increasing in both frequency and intensity. With contractions getting closer together, you will know that it is labour for sure. The contractions are coupled with cervical changes, that is, dilation, and the passage of show, which is basically the discharge of mucus with some amounts of blood.

However, it is completely alright if you are confused. Just pay close attention to how far apart the contractions occur. If that is stressing you out, stop worrying over it and head right to the hospital, even if that means going back home because it is not yet time to deliver the baby. It will not be a trip wasted, for it will make you feel at ease, reassuring you that your doctor has always got your back.

While that is sorted, it is important to note that labour progresses in three stages. The first stage begins with the onset of true labour and culminates in the full dilation of the cervix. This stage is further divided into the latent stage and the active stage. During the latent phase, the cervix dilates upto 4 centimetres. This is known to be the longest phase of labour, lasting around 12-16 hours, with generally 12 hours for first time mothers (primies) and 6 hours for those who have previously delivered children.

At this phase, treat yourself to some soothing music, light some scented candles, and make sure that you are as comfortable as you can be. Surround yourself with people you trust, have your birthing buddy by your

SIGNS OF TRUE LABOUR

Regular pattern of contractions

Increase in the intensity of pain

Contractions are closer together

There are cervical changes i.e dilation

Passage of show- discharge of mucus along with some blood

Your ‘water’ breaks or the amniotic sac ruptures

side, and keep yourself informed about the progress of that someone inside. Avoid consuming heavy food items. Rather, have a light serving of soup or crackers. Although this is the least intense stage of labour, make sure that you are close enough to make it to the hospital in case of any worries in a timely manner. The active phase of labour begins when the dilation exceeds 4 centimetres and extends upto the end of the first stage at 10 centimetres. Here, the contractions are likely to increase in frequency and intensity with 1-2 contractions every ten minutes. It is during this phase that you are likely to be admitted to the hospital. At the Gracias Maternity Hospital, patients are welcomed to the appealing aura of the pre-delivery room, a safe, comfortable space to lounge in before they are moved to the labour room when the second stage of labour begins.

Full dilation of the cervix sets off the second stage of labour, which lasts until the baby is delivered. Now in the sterile delivery room, the patient is cared for by a well-equipped medical army of sorts. A team of two experienced doctors, two hands-on nurses, and one paediatrician oversees and ensures a safe and successful birthing process. This stage is characterised by active pushing of the baby through the birth canal, ultimately culminating with the birth of your baby. Relatively shorter than the first stage, the second stage generally has a duration of thirty minutes to one hour.

After the baby is delivered, your body embarks on the third stage of labour. This time, you deliver the placenta. Yes! The organ that nourished your baby, all warm in the womb, has served its purpose, and now needs to pass. It would take around 30 minutes for this process to play out. The World Health Organisation (WHO) has prescribed a proactive approach to the active management of the third stage of labour (AMTSL). This strategy comprises a three-fold plan of action that includes oxytocin administration, uterine massage,

The writer is an obstetrician and gynaecologist at Gracias Maternity Hospital, Margao. Email: emanuelgraciasmd@gmail.com

and controlled cord traction. These three components of AMTSL are crucial to mitigate postpartum haemorrhage, a known killer that rides on maternal mortality. Instead of a passive approach, this active management technique involving the administration of oxytocin helps to contract the uterus, thereby preventing excessive blood loss. Uterine massage involves repetitive rubbing of the lower abdomen and gently massaging inwards to stimulate the uterus, enabling it to contract. The third major component of this approach involves clamping the baby’s cord, and pulling on the cord whilst simultaneously applying pressure to expel the placenta.

As the body prepares for post-partum the fourth stage of labour sets in; this stage is all about recovery - you have birthed a beautiful baby, and now it is time to breathe a sigh of relief, marvelling at the wonderful human you created. Two or three hours after birth of the baby, the uterus naturally contracts and expels any remaining materials, shrinking it gradually. This process is hastened by the miracle of breastfeeding, which prompts the generation of oxytocin, aiding in further contraction of the uterus. With the poignance of this phenomenon, one can say that the baby gives birth to the mother.

The question arises – how does one prepare to deal with labour? The answer is simple and clear – the preparation begins from the first time you meet your doctor. Make sure that you have got all your questions answered and all doubts clarified. Promptly attend the pre-natal classes. This will enable you to learn more about the journey that lies ahead, right from identifying the signs of true labour to giving yourself time to heal when it is all over. Bond with your birthing buddy and deliberate on your birthing plan. Weigh your options, make your choices –whether or not you want painless labour or who should be the immediate point of contact in case of priority decision making. While all these essentials factor in to ensure preparedness, don’t force yourself to control each and every aspect of this stage to a point that it overwhelms you. Remember, your doctor’s objective lies in your safety and that of your baby, so don’t shy away from relying on your doctor in any way. Ask as many questions as you can, show up to the hospital as many times until you are sure –do whatever makes you feel secure

V. B. Prabhu Verlekar, a perennial source of positivity

The writer extols the virtues of his guru by touching on the aspects of his professional and personal life

It is rare that I feel elated to write about any particular person. However, one such person who motivates me is the well respected Chartered Accountant in Goa, Vassudeo B. Prabhu Verlekar. He is my ‘guru,’ having taught me the ABC of accounting, in my early learning years at Dempo College of Commerce & Economics, Panaji.

Hence, in this article I will refer to him as Sir. This octogenarian, in his 56th year of professional practice, is full of life. He constantly looks for happiness in circumstances, things or in people. When I was interviewing him for this article, he took me by surprise by asking me, “On a scale of 1 to 10, how happy are you?” He likes to learn from people, however young the other person may be.

I recall one college professor, his then colleague, mentioning to me that whenever Sir used to enter the teachers’ room, he used to virtually light up the place with his enthusiasm. He loves to meet and talk to people. I have observed that in any lecture programme or seminars, he can listen to the speakers for hours without losing concentration.

Sir began his practice in 1966 at Panaji, and has been working full time for the last 56 years. He commands a plethora of clients from various strata and fields of society. He has authored multiple books on diverse topics.

Beyond Accounting

His books on Sales Tax, VAT, and GST are extensively referred to by even the Taxation Departments and Courts of Law, besides practitioners.

Recently he has authored the book, ‘360 degrees for seniors for-bindaas living,’ which I feel every person, young or old should read.

He specialises in turnaround management of institutions and businesses. As a government appointed administrator, he completely revived Goa State Cooperative Bank, which was on the verge of collapse due to heavy losses. As President of Saraswat Education Society, Mapusa for the last 12 years, he was responsible for developing the institution from a high school to a Junior College of Arts, Science, Commerce, Vocational courses and College of Commerce & Management.

He also contributed to the development of Shri Devki Krishna Ravalnath Saunsthan (his family deity), Marcela, Goa. His

When one looks at his ever smiling face, his bright eyes, and pleasing personality, one cannot but conclude that Sir is an embodiment of contentment; having lived his life to the fullest, whilst taking it easy

contribution to the Rotary Club of Mapusa is also laudable.

Sir is also a lover of the arts and has published a book on the renowned Goan artist, Vamona Navelcar-Art & Reflections, with a collection of selected paintings and thoughts on art and creativity.

He is happily married to Rasika who has been a perfect life partner for the past 50 years. His son Ashish, who is also a CA, has carved out his own practice and is very well known in Goan social circles. His daughter Tanya Kenkare is a qualified architect, now settled in the USA.

On being asked what his advice is for

running a professional practice? He says that a client’s trust and confidence along with good service form the foundation of a successful practice. Always give value addition to the client which is more than expected by the client. He points out the mistakes of the client only in a polite manner. He has cherished and followed principles in his practice in a very careful manner.

What about personal behaviour? He says that one should never give unsolicited advice, never compare yourself with others and always avoid conflict with others. He believes in finding happiness even in small things, which adds to a treasure of happiness over time. In everybody he meets, he looks for good qualities and is very compassionate and helpful. He never hankers after publicity.

He was a Chartered Accountant and sort of mentor to Late Manohar Parrikar. In my view, he was amongst the ten closest people to the former Chief Minister; so much so that Parrikar publicly admitted that several decades back, he had voted for Congress, only because Verlekar told him to defeat the formidable MGP candidate in that party’s bastion. Back then Verlekar had taken charge of the election campaign in Mapusa Constituency in order to end the era of that party. But he never took any advantage of his proximity to Parrikar; instead he helped the former Chief Minister in stabilising the Mapusa Urban Co-operative Bank and Goa State Co-operative Bank. However, he kept himself away from contesting any election.

Several people have told me about his extensive range of interest in art, music, literature, education, banking, huge friend circle, yoga, travel, socialising, etc. I do not recall any other person who has a multifaceted personality like Sir. He has traveled extensively all over the world.

And how does Sir keep himself fit? He indulges in extensive yoga including pranayam every day.

When one looks at his ever smiling face, his bright eyes, and pleasing personality, one cannot but conclude that Sir is an embodiment of contentment having lived his life to the fullest, whilst taking it easy.

If I am asked to pinpoint one single person who has lived his personal, professional and social life in a most fulfilling manner, I would have no hesitation in naming my Guru, Vassudeo B. Prabhu Verlekar

The columnist is a senior chartered accountant. He is Chairman of Indo-American Chamber of Commerce, Goa; and Director of EDC, Goa. Email: srkgoa@gmail.com

V. B. Prabhu Verlekar

Paper Moon debuts in India at Taj Fort Aguada Resort & Spa

Enjoy the taste of Italy as Paper Moon finds its home in Goa

Indian Hotels Company (IHCL), India’s largest hospitality company, has introduced the Italian restaurant, Paper Moon in Goa. This marks the debut of the brand in India, which will bring alive authentic Italian gastronomic tradition.

Located in the historic settings of Taj Fort Aguada Resort and Spa, Goa, Paper Moon overlooks the historic 16th century coastal fortand the Arabian Sea, offering guests a culinary experience with a view.

Speaking about the launch, Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “IHCL has a long-standing legacy of being a pioneer in introducing unique culinary concepts and cuisines, while offering guests the best-inclass dining experiences. We are delighted to partner with Ristorante Paper Moon S.R.L to bring Paper Moon to India. With its

marquee location at Taj Fort Aguada Resort & Spa, Goa, India’s first luxury beach resort, Paper Moon will offer authentic Italian flavours in a setting true to the cuisine.”

Paper Moon, which opened its first restaurant in Milan in 1977, will present its trademark traditional Italian cuisine at its new outpost, which reflects Goa’s vibrant spirit; crafted using the freshest produce, the menu at Paper Moon changes with the season.

An exquisite choice of ingredients will allow guests to experience a fresh variety of delicacies every season. Guests can choose from a wide selection of wines and cocktails made with local ingredients to complement popular dishes, and also experience a cafe offering the best Italian coffee and drinks. Combined with the warmth of Taj’s legendary hospitality and service excellence,

Paper Moon will bring alive the magic of a true Italian culinary experience in the heart of Goa.

Speaking on the occasion, Claudio Bertoni and his team, Ristorante Paper Moon S.R.L said, “From the heart of Milan’s fashion district to the heart of India’s leading beach destination, Paper Moon has made its way across the globe for over four decades, bringing alive authentic Italian flavours. With this opening at Taj Fort Aguada Resort & Spa in Goa, Paper Moon is excited to introduce our legendary culinary experience in India, and we are delighted to partner with IHCL for the journey of the brand in India.”

Born out of love for honest Italian cuisine, Paper Moon stands as a beacon of authenticity and epicurean delight at Taj Fort Aguada Resort & Spa, Goa

Parma Ham with Melon

Spelt, Mixed Vegetables and Prawns

Paper Moon Wild Rocket Salad, Cherry Tomatoes, Parmesan Cheese

Marinated Salmon Tartare, Tomato Coulis, Avocado & Cucumber

Paper Moon Tiramisu

Fourth Edition of CII Yi Goa Thought Leadership Conclave held

The Fourth Edition – Thought Leadership Conclave (TLC) 2022 was held at Panaji. The theme chosen for the conclave was ‘India@75: Heading into Amritkaal’ and titled “Amritkaal: India @75 and an onward march towards being Vishwaguru”. The conclave featured eminent speakers like Ami Ganatra, author, Mahabharata Unraveled who spoke on the topic: “Itihasa” and its relevance for India of the Future. Sanjeev Sanyal, Member, EAC to Prime Minister was in conversation with Shrinivas V. Dempo, Past Chairman CII Western Region Council & Chairman, Dempo Group of Companies. Sanyal shared his views on the topic ‘Economic Reforms for The Next 25 Years’. Ram Madhav, Member, Governing Council India Foundation delivered a keynote address on the topic “Emerging World Order: The Indian Opportunity”. Arjun Vaidya, Founder, Dr. Vaidya’s & Angel Investor along with Sriram Natarajan, Founder Director & CEO, Molbio Diagnostics Pvt. Ltd spoke on the topic, ‘Role of Entrepreneurs in the India Story.’ This was the fourth successful edition of the TLC which was attended by 170+ delegates. The delegates consisted of legislators, young entrepreneurs, captains of industries, Government Officials from across the state, and Yi members from neighbouring state chapters

Swati Salgaocar

Jayesh Raikar

Atreya Sawant

Sairaj Dhond

Giriraj

Pai Vernekar

Atul Pai Kane

Kirit Maganlal

Sanjeev Sanyal

Manoj Patil

Amit Tamba

Vaikunth Dempo

Anirudh Agarwal

Nirmala Sawant

Anirudh Dempo

Rohan Kamat

Pratiksha Khalap

Rohit Zantye

Gaurpriya Pai Kane

Akshay Joshi

Sagar Naik Mule

Shrinivas Dempo

Rupesh Gauns

Tanvi Sawant

Lalit Saraswat

Tulasidas Pai

Daji Salkar

Sheetal Pai Kane

Arjun Vaidya

Dr Priyanka Raikar

Devki Telekar

N Sriram

Ami Ganatra

Smita Barooah

Viraj Dhond

Mayuresh Dhume

Ram Madhav

10th edition of Orchid Awards for Women Achievers

Asha Arondekar introduced the first ever exclusive Awards for Women Achievers of Goa, to appreciate women for all the hard work that they put in their respective fields and industry. The first Awards function was held in 2011 and from then on, this event has been held every year to celebrate women in all walks of life. This year was the 10th edition of the Orchid Awards for Women. The 8 Award categories are Education, Art & Culture, Sports, Social Work, Journalism, Business, Rural Development, Girl Child Prodigy (age 16 and below). Being the 10th edition, they also had 2 additional Awards given in the Life Time Achievement category.

The Award function was held in the presence of 400 eminent citizens of Goa, with women achievers in Goa being in the limelight.

empowering women in Goa. The program was supported

The spectacular evening was put up by

AWARDEES OF 10TH EDITION OF ORCHID AWARDS 2022

Sulakshana Sawant was the Chief Guest, who spoke on

by Rajesh Tarkar of Rajdeep Builders and Rajesh Dempo of Vision Dempo.

Asha and her team to honour women of Goa

Bhakti and Rajesh Dempo

Smitha Vijay

Col Abhik Kar

Arman Bankley

Heather Colaco

Kalika Bapat

Aparna Palyekar

Dr Jyotshna Nayak

Usha Chopra

Rina Jain

Tony Dias

Rina Barreto

Hasina Bandukara

Manjusha

Rajesh Yadav

Asha Vernekar

Prof.Vidya Desai Danuska Da Gama

Medha Pai

Assavri Kulkarni Stella Jacob

Katya Coelho Samairah Bhandare

Pournima Kerkar

Dame Indira Patel

PI Sandhya Gupta

Ayesha Baig

Nimisha Kamat

Gautam Kharangate

Colleen Sequeira

Harshvardhan Bhatkuly

Odette Mascarenhas Daksha Parab

Manish Patel

Laxmi Kunkolienkar

Ratnamala Parab

Deepali Naik

Rajesh Tarkar Mahesh Pai

Nidhi Sanke

Pooja Kunde

Sulakshana Sawant

Amol, Niharika and Asha Arondekar

Dr Caitanno Fernaandes and his panel won a resounding victory at the Goa Football Association elections held recently. He received 83 votes out of 159 and had contested against Savio Alemao and Welvin Menezes. Dr Caitanno has been associated with football for a long time and is the President of Football Club Tuem as well as a member of the Goa Football Development Council. Along with being an avid football fan, he is the Founder and Director of CAM Industrial Services, a business involved in sanitation and waste management services. As President of GFA, Dr Caitanno says that his priority will be to kickstart the Goa Pro League as soon as possible and is willing to sponsor the league. Caitanno will be assisted by Jonathan de Sousa who was elected as VP North and Antonio Pango, VP South

Vaikunth Dempo, Chair, CII Yi Goa was selected as a delegate from India for the Young Entrepreneurs’ Alliance (YEA) Hamburg, Germany. The G20 Young Entrepreneurs’ Alliance (G20 YEA) is a global network of approximately 500,000 young entrepreneurs and the organisations that support them. To be a part of this delegation, a business should have a social and/or sustainability impact on at least one of the 17 UN Sustainable Development Goals (SDGs). Vaikunth is Director of Dempo Marketing Company Private Limited and Founder of Vaikunth S. Dempo Ventures. He holds a Bachelor in Computer Application, (Batch of 2012) from MITSoM, Pune – University of Pune and MSc in Innovation, Creativity and Entrepreneurship (2013) from the University of Newcastle upon Tyne, United Kingdom

Subrai (Sandeep) Nadkarni releases new book, The Khazans of Goa

Subrai (Sandeep) T Nadkarni has authored a new book titled, The Khazans of Goa. The book was published by Goa Chamber of Commerce and Industry (GCCI) and was released at the hands of the Governor P. S. Sreedharan Pillai. Khazans are reclaimed lands from the river or the sea and these lands were once used for cultivation. The book throws light on efforts made by earlier generations to reclaim riverside lands for cultivation. It is expected to be of use to academicians as well as general public. Nadkarni is the former Chief Engineer of the Water Resources Department

Heta Pandit pens new book, Stories from Goan Houses

Heta Pandit’s new book, Stories from Goan Houses was released recently. The book documents the stories of families who have helped shape the state, played important roles, rebuilt and renovated Goan houses and the local legends, stories and myths that lends Goa the distinctive blend of tradition and novelty. The book features 21 homes with photography by Daniel D’Souza and focuses on the lives, struggles and triumphs of the people who are looking after houses. Heta currently lives in Saligao and has had a wide range of career stints in advertising, journalism and has worked with Dr. Jane Goodall in the field of chimpanzee research in Tanzania. After pioneering multiple heritage awareness and action movements in Bombay, she has been living in Goa for the last 26 years, where she co-founded Goa Heritage Action Group in 2000; which is dedicated to the advocacy of preservation, conservation and restoration of Goa’s natural, built and cultural heritage

Fernando Amaral Fernandes, Assistant Hotel Manager from Ginger Goa Cluster, The Indian Hotels Company Limited has been felicitated with the BW Hotelier Award for Front Office Manager of the Year (West) 2021-22 at a grand ceremony held at Taj Palace New Delhi, recently. This award has been conferred by a jury panel comprising of seasoned hoteliers after meticulously sifting through 900 applicants across all hotel categories from Western India Region.

Fernando, a seasoned travel and hospitality professional with over 14 years of experience, holds a Hotel Management degree from the prestigious Institute of Hotel Management, Catering Technology and Applied Nutrition, Goa and a Marketing Master’s from Symbiosis, Pune.

He is also an FSSAI certified food safety master trainer and holds an advanced lean six sigma yellow belt certification helping him perform internal brand and process audits within the company. His hobbies include adventure sports, photography, concept art and non-fungible tokens (NFTs)

1. Puneet Chhatwal, Managing Director and CEO of which famous hospitality company?

2. Which brand of cigarettes, named after a famous monument in Hyderabad, is manufactured by Vazir Sultan Tobacco?

3. Which brand name means ‘necklace of gold’ in Sanskrit?

4. What does ‘T’ stand for in the music label T-Series?

5. Dansberg is a brand of beer made bg which famous Bollywood actor?

6. Which car brand's originally planned name was D’Arts?

7. Who founded the Self-Employed Women's Association of India (SEWA) in 1972, and served as its general secretary from 1972 to 1996?

8. Petisco and Vida are fine dining restaurants from which popular snack chain in Goa?

9. Identify the matriarch of one of India’s biggest steel makers

Answers to BG Quiz 160: 1. Insurance 2.Lemon Tree 3.Godrej 4.Jagdish Bhagwati 5.1977 6.Tata Indica 7.Shiv Nadar 8.Pai Kane Group 9.Just Do It 10.Glaxo SmithKline 11.Roberto Cavalli

Dr Caitanno Fernaandes

elected as President of Goa Football Association

for