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Globally Wharton, Yale and <keyword id="53675" type="ORGANIZATION" weightage="20" keywordseo="harvard">Harvard</keyword> are the best known institutes whose students believe in giving back pickups once they are established in their life. And the trend seems to be catching up well with Indian business schools as well. This month, IIM-Ahmedabad has raised Rs 7.5 crore from its alumni <keyword id="186752" type="PERSON" weightage="20" keywordseo="Vishwavir-Ahuja">Vishwavir Ahuja</keyword>, managing director of <keyword id="2179992" type="UNKNOWN" weightage="20" keywordseo="RBL-Bank">RBL Bank</keyword>, and Aprameya R and <keyword id="491843" type="PERSON" weightage="20" keywordseo="Raghunandan-G">Raghunandan G</keyword>, cofounders of TaxiForSure, to support infrastructure funding, according to an ET news report. "Alumni response has been overwhelming,” <keyword id="4796652" type="UNKNOWN" weightage="20" keywordseo="ajit-k-motwani">Ajit K Motwani</keyword>, head of the development office at IIM-A told ET. What helped was director <keyword id="1588161" type="UNKNOWN" weightage="20" keywordseo="Ashish-Nanda">Ashish Nanda</keyword>'s Harvard background, which helped foster the culture of alumni giving. The largest individual contribution was Rs 11 crore by an anonymous IIM-A graduate to support heritage campus infrastructure and entrepreneurship scholarships, reports ET. . "IIM-B has now entered a phase of high growth. The second campus is coming up in Jigani in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. In this growth and expansion, alumni and corporate funding will play a significant role,” VK Menon, chief marketing and development officer at IIM-Bangalore told ET. "Alumni have volunteered funds toward construction of a swimming pool, introducing IIM Calcutta Case Research Centre, instituting scholarships and awards and commissioning the proposed sports complex”, <keyword id="4796653" type="UNKNOWN" weightage="20" keywordseo="uttam-kumar-sarkar">Uttam Kumar Sarkar</keyword>, dean of new initiatives and external relations at <keyword id="87135" type="COMPANY" weightage="20" keywordseo="IIM-Calcutta">IIM-Calcutta</keyword> told the financial daily.

IIM students are donating back to the institutes after graduating. Here’s how

Telecom regulator <keyword id="6356988" type="General" weightage="20" keywordseo="trai" source="Orion">Trai</keyword> has asked the Department of Telecom to consider its recommendations made last year on spectrum auctions to plan the sale of radiowaves, according to a senior government official. <keyword id="16054" type="General" weightage="20" keywordseo="dot" source="Orion">DoT</keyword> Joint Wireless Advisor Gulab Chand, during a panel discussion at the India Spectrum Management Conference, said the government is trying its best to hold spectrum auctions by the end of the current fiscal or early next fiscal. The Telecom Regulatory Authority of India (Trai) has asked the department to go ahead with recommendations for lower frequency bands last year for 5G <keyword id="6462365" type="General" weightage="20" keywordseo="spectrum-auction" source="Orion">spectrum auction</keyword>, and it will take time to come up with suggestions on pricing and other modalities for new frequency bands, he said on Wednesday. "They (Trai) said reserve price, eligibility criteria, everything is with you for legacy bands. Why don't you go ahead with all those conditions and immediately conduct the auctions. For the new bands - Q (33-50 Ghz) band and V (40-75 Ghz) band, they will need more time," Chand said. He said much of the spectrum allocated in the lower band earlier is due to expire this fiscal and telecom operators would like to acquire it again. "We are trying very hard to hold the auction, if not within this fiscal, then maybe just in the beginning of next fiscal," Chand said. The Union Cabinet in September 2021, decided that spectrum auctions should be normally held in the last quarter of every financial year. <keyword id="130091" type="General" weightage="20" keywordseo="Trai-Secretary" source="Orion">Trai Secretary</keyword> V Raghunandan, who was present at the conference, said the regulator has told the DoT that if a spectrum auction has to be conducted this year or within the next three years, then they can refer to spectrum pricing and other conditions recommended by the regulator for the 5G spectrum auction. "We have also given a formula of indexing for determining base price," Raghunandan said. The government, in 2022, put a total of 72,097.85 MHz of spectrum for auction with a validity period of 20 years. Trai had recommended base price for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) frequency bands. A record bid of over Rs 1.5 lakh crore worth of 5G telecom spectrum was received in the auction held last year.

Telecom regulator asks DoT to consider previous recommendations for next spectrum auction

<keyword id="19483" type="ORGANIZATION" weightage="100" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword> just raised Rs 7.5 crore from alumni Raghunandan G, <keyword id="186752" type="PERSON" weightage="20" keywordseo="Vishwavir-Ahuja">Vishwavir Ahuja</keyword> and Aprameya. While conservation, restoration and upgrade of the classrooms in the Heritage Campus is being supported by RBL Bank (Vishwavir Ahuja is the MD &amp; CEO of RBL bank), CR2 upgradation to state-of-art facility and maintenance at IMDC in the <keyword id="4731025" type="UNKNOWN" weightage="20" keywordseo="iim-a-new-campus">IIM-A New Campus</keyword> is being supported by co-founders of TaxiForSure — Raghunandan G and Aprameya R (PGP 2007 and 2008) — with funding of Rs 2.5 crore each. “RBL has significantly benefited from the quality education imparted at IIMA through several IIMA Alumni in the senior management team. RBL has always focused on excellence in the banking industry and is delighted to make a contribution of Rs 2.5 Crore for shared vision to support education excellence at IIM-A,” said Vishwavir Ahuja. Meanwhile, IIM-A director Prof Ashish Nanda said - “Alumni are a source of strength for the institute. They contribute in many different ways to support the Institute’s priorities. IIM-A deeply values their meaningful and significant contributions.” “Contributing to IIM-A is a proud moment for us as we owe so much of our success to this institute. Having graduated from this great institute, opened doors for us through our entrepreneurial journey. We could connect with IIMA alumni in the startup eco system who were strong guides during our TaxiForSure story and in fact, were our source of strength and also the worst critics to ensure that we always did the right thing,” said Raghunandan G and Aprameya R.

IIM Ahmedabad just raised Rs 7.5 crore from alumni

The rumours about <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> cabs taking over <keyword id="1428790" type="COMPANY" weightage="20" keywordseo="TaxiforSure">TaxiForSure</keyword> were doing rounds for quite some time now, but today they have come to an end. According to a company press release, Ola, India’s leading mobile app for personal transportation, has acquired TaxiForSure, India’s second largest cab aggregator, for $200 mn in a cash and equity deal. With this acquisition, investors in TaxiForSure— Accel Partners, Bessemer Venture Partners and Helion Venture Partners—will roll over their stock into Ola. Presently, Ola has been funded by Tiger Global, Matrix Partners, <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> Capital, Steadview Capital and most recently, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> over its four rounds of fund-raising. It’s worth noting that even after the deal, Ola and TaxiForSure will continue to operate as separate entities. The leadership and all of the 1,700 employees shall continue to work with TaxiForSure, with <keyword id="359392" type="PERSON" weightage="20" keywordseo="Arvind-Singhal">Arvind Singhal</keyword> (currently COO) being appointed the CEO. Aprameya Radhakrishna and Raghunandan G, the founders of TaxiForSure, will contribute in an advisory role for a certain period. TaxiForSure is currently in 47 cities with over 15,000 vehicles registered on its platform. Commenting on the deal, <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword>, co-founder and CEO, Ola, said, “Ola and TaxiForSure share the same vision of revolutionising urban mobility. TaxiForSure has a great team and they have built a very exciting business in a short time. There's a lot of complementary value in the strategy TaxiForSure has followed. I'm very excited to welcome the TaxiForSure team onboard and look forward to working with them towards realising our common vision.” 

	Raghunandan G, co-founder and CEO, TaxiForSure, said, “TaxiForSure coming together with Ola will provide us with more opportunity than ever, to do what we do best. Post this acquisition; the combined entity will be strong enough and better capitalized to offer the best value to all our stakeholders, including our customers. This development ensures that industry attractiveness is preserved and the combined entity can race ahead and continue to create unprecedented value for all stakeholders.”

Ola has sealed the TaxiForSure deal for $200 mn

<keyword id="1428790" type="COMPANY" weightage="80" keywordseo="TaxiforSure">TaxiForSure</keyword> CEO Arvind Singhal has resigned at the face of a reshuffling in the company. This comes just four months after the company was acquired for $200 million (about Rs 1,280 crore) by <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> Cabs. 
 
Pallav Singh has been appointed as the new CEO, and Singhal would continue in a n advisory role for the next three months to ensure a smooth transition. 
 
TaxiForSure has seen a mass evacuation of top company executives including co-founders Aprameya Radhakrishna and Raghunandan G, CFO Ganesh Venkataraman, CTO Amitava Ghosh, HR head Hari TN, CMO Randeep Singh and Product head Nitin Pulyani. At least 50 other mid-level executives have also quit from the company headquarters in Bengaluru. 
 
(Image credit: Indiatimes)

TaxiForSure CEO quits

With the start-up industry getting a boost in Indian markets, experienced professionals as well as students are switching their interests to the fresh players. A recent report published in Economic Times makes the picture clearer by explaining how and why and from where these young firms are getting manpower? 
 The report says that higher risk and potentiality to identify the higher return capability is leading Indian executives to make the shift. Apart from that, autonomy and potentially handsome returns is creating ways for experts to give up less demanding jobs in the corporate world and to enter the high-risk, high churn <keyword id="2958974" type="UNKNOWN" weightage="20" keywordseo="startup-workforce">startup workforce</keyword>. 
 
The report also points out the shift as a ‘tough decision’ as it's not any easier to decide on the best time to join a start-up as they come in all shapes and forms which, in no time, turn out into an organizational structure as soon as they start growing. 
 
As per the experts, what matters the most is the stage at which you are joining it, which depends on what you are looking for. The results came after industry insiders evaluated the start-ups for risk, reward, and the talent that you bring to it. 
 <keyword id="2905804" type="UNKNOWN" weightage="20" keywordseo="Aneesh-Passi">Aneesh Passi</keyword>, <keyword id="170488" type="POSITION" weightage="20" keywordseo="co-founder">co-founder</keyword> <keyword id="2905805" type="UNKNOWN" weightage="20" keywordseo="Basil-Advisors">Basil Advisors</keyword>, which recruits C-level executives for new enterprises says, “Junior or mid-level employees might be interested in going to the bigger, established startups as a positive career move, but mid to senior-level executives are keen to join companies in the Series-A and B stage where they can build something bigger and meatier." 
 <keyword id="2958973" type="UNKNOWN" weightage="20" keywordseo="TaxiForSure-co-founder">TaxiForSure co-founder</keyword> Raghunandan G says that the proverbial garage exists only at the ideation stage, before the startup has garnered any recognition. "You have to be extremely ambitious and aspirational to join a startup at that stage," feels the IIM-A graduate, who assembled a great core team that left the company once it was sold to Ola to found their own companies or take up senior roles in other startups. "You will be shadowing the employer and learn a lot of things, and will be more likely to get promoted," he added. 
 
If you are a senior executive thinking of jumping into the startup bandwagon, it may be better to wait until startups have found their feet and are in need of experienced managerial guidance. 
 
Image: thinkstock

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IIM students are donating back to the institutes after graduating. Here’s how

BI India Bureau

Telecom regulator asks DoT to consider previous recommendations for next spectrum auction

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IIM Ahmedabad just raised Rs 7.5 crore from alumni

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Ola has sealed the TaxiForSure deal for $200 mn

BI India Bureau

TaxiForSure CEO quits

BI India Bureau

Planning to switch to a start-up? Read this to know the right time for it.

BI India Bureau

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