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<keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> chairman <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> left for his heavenly abode on Wednesday. Tata, aged 86, died on Wednesday evening at Breach Candy Hospital in Mumbai after a brief illness. The industrialist was widely known for transforming the Tata Group into a global powerhouse and would often make headlines for his <keyword id="21072972" type="General" weightage="20" keywordseo="philanthropic-efforts" source="keywords">philanthropic efforts</keyword>. Perhaps this is why, the death of the renowned industralist has struck a chord with the entire nation and beyond. The Maharashtra government also declared a day of mourning today in Ratan Tata's honour. From Reliance Industries MD <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> and Adani Group chairman <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> to <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> CEO <keyword id="164502" type="General" weightage="20" keywordseo="sundar-pichai" source="Orion">Sundar Pichai</keyword>, a lot of business tycoons have reacted to Ratan Tata's death. Let us take a look at some reactions. Industrialist Gautam Adani hailed Tata as a “giant” and a “visionary” who redefined modern India’s path. “He wasn’t just a business leader; he embodied the spirit of India with integrity, compassion, and an unwavering commitment to the greater good,” Adani said. His words echoed the sentiment of many who admired Tata for his values and leadership, which transformed the Tata Group into a global enterprise while maintaining its deep connection to Indian society. Google CEO Sundar Pichai also expressed his grief over Tata’s death, noting his deep commitment to India’s progress. “Ratan Tata deeply cared about making India better,” Pichai wrote on X, formerly Twitter. Reflecting on his last meeting with Tata at Google, where they discussed advancements in Waymo, Pichai added that Tata’s vision was inspiring. “He leaves an extraordinary business and philanthropic legacy, having mentored and developed modern business leadership in India.” Anand Mahindra, Chairman of Mahindra Group, shared his sorrow over the loss of a mentor whose guidance he believed was invaluable, particularly at a time when India’s economy is poised for significant growth. “Ratan’s life and work had much to do with our current position on the global stage,” Mahindra noted. “His example will continue to guide us, and legends like him never die.” Reliance Industries Chairman Mukesh Ambani expressed personal grief over the loss of a “dear friend.” Ambani described Tata as a visionary who took India to the world and brought global innovations to India. “With his passing, India has lost one of her most illustrious sons. His contributions will continue to inspire future generations,” Ambani said, adding that Tata’s legacy of humility, integrity, and compassion was one that would remain etched in memory. RPG Enterprises’ Harsh Goenka also paid tribute to Tata, describing him as a beacon of ethical leadership. “The clock has stopped ticking for the titan of Indian industry,” Goenka wrote, underscoring the indelible mark Tata left on both business and society. Other prominent figures, including Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> and Commerce Minister <keyword id="19895367" type="General" weightage="20" keywordseo="piyush-goyal" source="keywords">Piyush Goyal</keyword>, also expressed their sorrow. Sitharaman lauded Tata as a leader whose deep resolve for innovation and social responsibility transformed industries and uplifted communities. Goyal, meanwhile, referred to Tata as a “true nationalist” who brought immense pride to India through his global achievements. Apart from celebrities, politicians and business tycoons, Ratan Tata is also being remembered by millions of Indians on social media. Various people have shared heartfelt posts on platforms like Instagram and X, mourning the death of the Tata Group chairman. Tata, born in 1937 in Mumbai, led the Tata Group as Chairman of Tata Sons from 1991 until his retirement in 2012. He was instrumental in expanding the group’s global footprint while staying true to the company’s founding principles of ethical business practices and social responsibility. His leadership extended far beyond the boardroom, as he dedicated much of his life to philanthropy, focusing on education, healthcare, and rural development. As India mourns the loss of a corporate icon, the tributes from business leaders paint a portrait of Ratan Tata as a visionary who transcended his role as an industrialist to become a symbol of India’s aspirations and values. His legacy, built on integrity, innovation, and a commitment to the greater good, will continue to inspire future generations. Tata’s mortal remains will be kept at the National Centre for the Performing Arts (NCPA) in Mumbai for the public to pay their respects, before his final rites are performed later in the day.

‘Deeply cared about making India better’: Mukesh Ambani, Gautam Adani, Sundar Pichai and others react to Ratan Tata's death

New Delhi, May 12 () The coronavirus pandemic is like world war and if some funds could be marshalled into certain areas, there could be another wave of innovativeness arising out of a problem just like what happened in World War II or the Cold War, according to veteran industrialist Ratan Tata.The current health crisis is a time to support "our own innovativeness", invest in it and "not dismiss something as being too far out but being something we should look at", said the Chairman Emeritus of Tata group holding firm Tata Sons in an interview on business news channel CNBC-TV18."It is not a world war but it is like a world war. There is a dramatic need for vaccine, there is a dramatic need for solutions and strange things happen," Tata said.He further said, "I think we have to look back and say where so and so innovativeness has its roots. Quite often it has its roots at time of crisis and we have a crisis on our hands today and so there is an issue of throw your hands up, you have this crisis and then there is our own innovativeness, it comes to play, that is a time we need to support to invest, to not dismiss something as being too far out but being something we should look at."On the roles that governments can play at present to support collaborations, he cited the example of the US where new industries have been ushered into with the government providing billions of dollars, "which the private sector would not have been able to do", to support "new technologies and biotechnology or in integrated circuits or in total variety of things"."...if we at a time like this had a way of marshalling some funds in certain areas, we could have another wave of innovativeness arising out of a problem just like we have had in World War II or the Cold War. If you look at the plus side of that, it caused innovation to take place which is perhaps not have happened, it would have taken much longer to do than they have done," Tata said.Reiterating that "this situation does give us an opportunity to innovate", he added, "but it tests us and it involves going through the transformation of looking at a different way to do things caused by shortages in this case or caused by strictures or legislation on the other side. New partnerships, everything is up for grabs."He said the crisis has stretched limit of innovation, which for a few years was thought to be at its limits."But a hard thing to say is that the virus today has an issue of generating those questions and forcing them on us, otherwise we would go along until there was a more enterprising entrepreneur who thought it. I think we have to look at this as an opportunity to do something that is more innovative than we would have done in 2020," Tata said. Stating that R&amp;D is no longer in silos at present, Tata said, "...today successful R&amp;D is multidisciplinary, many things that we see today would not be there if they were in silos today. So maybe there is a new phase of what we have to look at, which today are not silly, they make sense but there is another page to be turned to deliver something that was not considered possible." RKL MKJ

COVID-19 crisis opportunity to support 'own innovativeness': Ratan Tata

New Delhi, May 11 () Veteran industrialist Ratan Tata on Monday said the coronavirus pandemic will force entrepreneurs to adapt, create and find ways to enable new or modified enterprises that would be benchmarks of tomorrow. While seeking not to "downplay the challenges and the difficulties embedded in these current times" the Chairman Emeritus of Tata Sons -- the holding firm of Tata Group said, "It can all start on a clean sheet of paper that looks at ways of doing things that were never thought of before." In a post on social media platform Instagram, Tata hoped that entrepreneurs will find a better way to run their operations following the pandemic that has severely disrupted economic activity. "In past difficult times, entrepreneurs have displayed farsightedness and creativity that could not have been believed to exist. These became the flagpoles of innovation and new technology today. "I hope that the ability to find another way to build a product, run a company, run operations a better way, will emerge as an outcome of the current crisis," he said. Tata, who was the Chairman of Tata Sons from 1991 till his retirement on December 28, 2012, further said, "I won't downplay the challenges and the difficulties embedded in these current times. But my confidence remains high in the inventive nature and the creativity entrepreneurs today who will find ways to enable new or modified enterprises that would be benchmarks of tomorrow". "This crisis will force entrepreneurs to adapt and create," said Tata, who has been actively investing in several startups after his retirement. RKL DRRDRR

COVID-19: Ratan Tata hopes entrepreneurs will create new benchmarks of tomorrow

Mumbai, Jan 28 () Industrialist Ratan Tata on Tuesday warned that start-ups which burn investors' money and disappear will not get a second or a third chance.
 Tata, who also invests in start-ups, also said old-age businesses will recede and the young founders of innovative companies are the future leaders of the Indian industry.
 The comments from Tata come at a time when many start-ups have been blamed for what is termed as "cash burn", wherein the optimism of making money in the future makes venture funds to invest in such companies, and the companies keep incurring losses. At its peak, e-commerce major Flipkart was reportedly burning USD 150 million a month.
 "We will have start-ups which will attract attention, collect money and disappear. Such start-ups will not get a second or a third chance," Tata, who was feted with the lifetime achievement award at the TiECON awards here, said.
 Tata, whose portfolio also consists of e-commerce company Snapdeal, exhorted businesses to conduct themselves ethically and not to be "fly-by-night" operators.
 He said the start-ups require mentoring, advice, networking and also recognition, and welcomed the role played by TiE, an organisation that seeks to promote the start-up ecosystem in India.
 Tata also urged TiE to work as a shadow regulator for ethics and good practices, and ensure that the start-up sector grows in a manner that it should.
 He was granted the award by Infosys co-founder N R Narayana Murthy. AA HRS

Start-ups that burn investor money, disappear won't get second chance: Ratan Tata

There are so many things that one can learn from <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, and the art of keeping employees motivated is one of them. On Friday, the <a href="http://www.businessinsider.in/ratan-tata-is-not-stepping-down-from-tata-trusts-rubbishes-reports/articleshow/56018782.cms">chairman of Tata Trusts</a> called all employees of the Tata group "inheritors and custodians of the Trusts" and of its "belief in making a sustainable change" in society. 
 The <keyword id="123235" type="COMPANY" weightage="100" keywordseo="Charitable-Trust">charitable trust</keyword> owns 66% of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, which is the holding entity of all companies controlled by the conglomerate that deals in a variety of interests, ranging from salt, cars, technology and steel. 
 
Also read: <a href="http://www.businessinsider.in/jlr-unveils-range-rover-velar-thanks-ratan-tata-for-showing-faith/articleshow/57430509.cms">JLR unveils Range Rover Velar, thanks Ratan Tata for showing faith</a> 
 
"You bring your zeal, your vigor, your integrity and most importantly your hard work. It is because of you that we can derive and obtain the opportunity and the privilege to serve our community and through that, our nation," Tata wrote in a letter on the occasion of the 178th birth anniversary of Tata Trusts founder Jamsetji Nusserwanji Tata. It’s also the 125th year of the philanthropic organization. 
 
It was in 1892 that Tata Trusts was set up, in the form of the JN Tata Endowment, followed by Sir Ratan Tata trust in 1919, Sir Dorabji Tata Trust in 1932, the JRD Tata Trust in 1944, the Navajbai Ratan Tata Trust Jamsetji Tata Trust in 1974 and lastly, the Tata Education and Development Trust in 2008. 
 
The trust deals in healthcare, water, rural upliftment, energy, education, relief, rehabilitation and individual grants, and boasts of the creation of institutes such as the Indian Institute of Science, Tata Memorial Hospital, Tata Institute of Social Sciences and the National Centre for the Performing Arts, all reputed names in their respective fields. 
 However, only recently it was in the news because of former Tata Sons chairman <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> <a href="http://www.businessinsider.in/war-intensifies-cyrus-mistry-is-going-to-challenge-chandrasekarans-appointment-as-tata-sons-chairman/articleshow/56642005.cms">questioning its governance structure</a> and ambit of power. It was October 24, 2016 that Mystry was <a href="http://www.businessinsider.in/cyrus-mistry-removed-as-tata-sons-director/articleshow/57003221.cms">ousted from his post</a>, which led to the feud. 
 
Four months later, on February 21 2017, <a href="http://www.businessinsider.in/this-is-how-new-chairman-chandrasekaran-is-going-to-enhance-operational-expertise-at-tata/articleshow/57307123.cms">N. Chandrasekaran</a> was appointed the <a href="http://www.businessinsider.in/N-Chandrasekaran-takes-charge-as-Tata-Group-Chairman-this-is-what-he-said-after-taking-over-the-reins/articleshow/57267209.cms">new chairman</a> of the Tata group. Chandrasekaran had earlier served as the <a href="http://www.businessinsider.in/chandrasekaran-moving-out-of-tcs-may-be-alarming-for-most-profitable-it-company/articleshow/56564074.cms">CEO of TCS</a>. 
 
Chandrasekaran also wrote a letter of encouragement to his employees, saying that higher shareholder value and business performance can be achieved if the conglomerate focuses relentlessly on customers and use innovation to reinvent its businesses. 
 
(Image source: Garavi Gujarat)

Ratan Tata calls Tata employees inheritors and custodians of Tata Trusts

<ul><li><keyword id="6602160" type="UNKNOWN" weightage="20" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised series A round of funding from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India.</li><li>The investment will help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. </li></ul>Ola Electric Mobility has raised an undisclosed amount from Ratan Tata in a series A round of funding. Ola Electric is a subsidiary of ANI Technologies Pvt Ltd, which is Ola’s parent company. Two months earlier in March 2019, Ola Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. Tata is also an existing investor in Ola. “The <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and I’m confident that this will be part of yet another important strategic move into this new business area,” said Ratan Tata, Chairman Emeritus of Tata Sons. Interestingly, Tata Group’s Tata Motors is also an early adopter of electric vehicles with its Tata Tigor EVs. The investment will further help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. In an official statement, the company said that Tata’s investment is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. The Electric Vehicle industry has been heating up in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry in the segment. Maruti Suzuki has also <a href="https://www.thehindu.com/business/Industry/steering-away-from-diesel/article27035520.ece">announced</a> that it will be phasing out its diesel vehicles by 2020, which could possibly lead to the company producing more EVs. See Also: <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a> <a href="https://www.businessinsider.in/ola-report-indias-ev-mission-needs-two-wheelers-three-wheelers/articleshow/69035515.cms">India's EV mission will be incomplete without two wheelers and tuk tuks but not without a few speed bumps</a>

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

It’s not one or two, but half a dozen! That’s the number of startups, <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> based IT <keyword id="6556311" type="POSITION" weightage="20" keywordseo="Major">major</keyword>, <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> is looking to <keyword id="47916" type="UNKNOWN" weightage="20" keywordseo="invest">invest</keyword> on. Keeping a budget of $250 million (Rs 1,580 crore), Infosys is evaluating the start up firms. 
 
As per a news report by The Economic Times, India's second-largest software exporter is also finalising an agreement to sign up for software products think-tank iSpirt's mergers and acquisitions program to connect with early-stage product companies, sources informed the ET. 
 At a time when <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> and Amabnis are looking up to the startup ventures, increase in non -traditional technology solutions to solve new-age business problems are making IT companies look for an option for a viable collaboration 
 The ET news report reads, Infosys is keen on investing on startups that have a profile similar to that of enterprise software maker <keyword id="2211555" type="UNKNOWN" weightage="20" keywordseo="SirionLabs">SirionLabs</keyword>, a technology developing firm. Analytics and artificial intelligence are the key focus areas for Infosys. 
 
 
"The discussions are still at a very early stage," the sources informed the financial daily. "Most of the startups that companies like Infosys are looking to tap are incorporated in India, with their founders based out of the Silicon Valley." 
 <keyword id="2825391" type="UNKNOWN" weightage="20" keywordseo="Yusuf-Bashir">Yusuf Bashir</keyword>, newly-appointed <keyword id="6411847" type="POSITION" weightage="20" keywordseo="head">head</keyword> of Infosys's $500-million startup fund, visited Bengaluru in April to meet members of iSpirt's M&amp;A team and evaluate how to best tap into India's software product ecosystem. iSpirt executives also met Kaustav Mitra, vice-president, innovation ecosystems at Infosys. Like Bashir, Mitra too was a former colleague of Infosys <keyword id="24211" type="POSITION" weightage="20" keywordseo="chief-executive">chief executive</keyword> <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> at <keyword id="6358384" type="COMPANY" weightage="20" keywordseo="SAP">SAP</keyword>. 
 iSpirt's M&amp;A connect program has a curated list of nearly 100 early-stage software companies under a business exchange program that typically connects large enterprises such as <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> and SAP with early-stage startups that are building disruptive software solutions. Companies like IBM, SAP, <keyword id="28115" type="CITY" weightage="20" keywordseo="Intel">Intel</keyword>, Microsoft, Amazon, Google, Flipkart and <keyword id="155484" type="COMPANY" weightage="20" keywordseo="Salesforce">Salesforce</keyword> are members. 
 
According to the ET, Infosys expanded the size and scope of its startup fund by five times to $500 million in January. Later, Sikka pledged to invest $250 million in Indian startups in the first such commitment by a cash-rich software services company. 
 
(Image: Infosys)

Here’s what happens when Infosys loosens its purse strings!

This month’s announcement of Indian-born <keyword id="276564" type="PERSON" weightage="40" keywordseo="Satya-Nadella">Satya Nadella</keyword>’s elevation to the top job at <keyword id="10387" type="CITY" weightage="40" keywordseo="Microsoft">Microsoft</keyword> has triggered some soul-searching among the Indian intelligentsia about how the best and the brightest from India tend to leave for foreign shores in search of better opportunities, instead of investing their intellectual capital at home. 
 A country of 1.2 billion with some crucial problems like poverty, illiteracy, <keyword id="6358907" type="ORGANIZATION" weightage="40" keywordseo="unemployment">unemployment</keyword> and lack of public health facilities, India needs innovation at the grassroots, and as a corollary, an ecosystem that supports such innovation where it is needed most. 
 
Partnerships, not prescriptions 
In the past, India would have looked for aid from developed countries, which would be willing to provide it, along with a lengthy list of prescriptions on how and where that money should be used. 
 Happily, that model has given way to a new range of partnerships between leading Indian and foreign organisations, where Indians are innovating right here at home. One such partnership is the Stanford-India Biodesign Program (SIB), which was set up in 2001. Since its inception, it has focused on developing medical devices that solve specific challenges seen in the Indian scenario. A three-way collaboration of Stanford University, IIT-Delhi and the <keyword id="6365231" type="ORGANIZATION" weightage="40" keywordseo="All-India-Institute-of-Medical-Sciences">All India Institute of Medical Sciences</keyword> (AIIMS), this programme stands out due to shared technological expertise and joint <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">funding</keyword> that comes from the <keyword id="44734" type="ORGANIZATION" weightage="40" keywordseo="Indian-Government">Indian government</keyword> and US sources. 
 But the SIB programme, supported by Indo-US governmental efforts, is not the most revolutionary aspect of India’s changing innovation ecosystem. Some of the current developments are even more encouraging. For instance, there is <keyword id="6355629" type="CITY" weightage="40" keywordseo="Google">Google</keyword>’s Impact Challenge and last year, the Internet giant funded a few social innovations in the country for the first time. 
 
From integrated water and sanitation systems for rural India to motorbike-borne science labs to get rural Indian kids excited about pursuing science and technology, Indians are being given a chance to determine their own innovation priorities and how to go about it. Consequently, an Indian Norman Borlaug may now use a homegrown innovation to benefit the entire mankind. 
 
A desi model Indians also have to be smart about innovating things the Indian way. Leveraging global benchmarks such as <keyword id="6357097" type="COMPANY" weightage="40" keywordseo="venture-capital">venture capital</keyword>, ease of doing business (India currently ranks an unenviable 134th in this area), <keyword id="388837" type="UNKNOWN" weightage="40" keywordseo="intellectual-property">intellectual property</keyword> protection and market access is important, but just copying another country’s model will also have its pitfalls. 
 So it is extremely unlikely that anyone but <keyword id="6360722" type="PERSON" weightage="40" keywordseo="ratan-tata">Ratan Tata</keyword> would have been able to realise his dream of <keyword id="28810" type="PERSON" weightage="40" keywordseo="Nano">Nano</keyword>, the super low-cost car. Tata had the capital to back such R&amp;D and the organisation to endure the legal and political battles that accompany any large industrial project in this country. There is a reason why we can’t produce another <keyword id="6355315" type="PERSON" weightage="40" keywordseo="Elon-Musk">Elon Musk</keyword> in India. But even he had to move from South Africa to the US to pursue his dreams. 
 
However, we can and have produced a Phanindra Sama, founder of redBus, an online booking site for inter-city buses that largely operate in the unorganised sector but carry millions of passengers daily. India’s large pool of IT-savvy professionals is a cliché but it took Sama’s imagination and a few millions from India’s growing VC community to create long-term value. 
 
Unlike Sama, Mansukhbhai Prajapati does not figure on VC watch lists. But that doesn’t make his invention of a clay fridge called Mitticool (it needs no electricity) is any less cool. Frugal innovation is the buzzword when it comes to grassroots innovation in India and it is being championed by its very own Vinod Khosla, Professor Anil Gupta and his Honey Bee Network. E.F. Schumacher’s ‘small is beautiful’ principle is driving a new model of Indian low-cost, but high-impact innovations. 
 
Another benefit of flying under the radar with such innovations is that they don’t run into the typical problems of red tape and special interests that seem to bedevil the ‘big bang’ approach to innovation, where scale becomes a pre-condition for success. 
 
Implementation beats intent 
India is no different from other countries when it comes to the biggest enemy of innovation – poor implementation. When the world’s cheapest tablet Aakash was announced, most of us expected a grand repeat of the success we had with Nano. The Indian government also jumped on the bandwagon but in hindsight, that was one of the reasons for failure. 
 
There is a cautionary tale here for the well-intentioned folks who advocate massive institutional support for specific innovations. That can sometimes make innovators cocky or worse, sloppy, as a lessening of the fear of failure sometimes creates the conditions for falling short. 
 
Institutions need to contribute in order to strengthen the ecosystem – it should be their dharma. Leave it to the Indian innovator to do the rest. 
 
Image: ThinkStock

How India Can Leverage The Innovation Philosophy

It’s been five months since <a href="http://www.businessinsider.in/searchresult.cms?query=ratan+tata&amp;sortorder=effectivedate">Ratan Tata</a> invested in any <a href="http://www.businessinsider.in/searchresult.cms?query=startup&amp;sortorder=effectivedate">startup</a> but now the<a href="http://www.businessinsider.in/searchresult.cms?query=tata+sons&amp;sortorder=effectivedate"> Tata Sons</a> emeritus is back. 
 <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> said he is going to interact with <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneur&amp;sortorder=effectivedate">entrepreneurs</a> and invest in <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> soon. 
 
"Entrepreneurs missed you in the last 5 months. We took your support for granted," Kalaari Capital's Vani Kola told Tata during a session at the VC firm's annual event in the city. 
 
"When I retired in 2012, I hit upon investing and interacting with startups as a new phase. I left the big business behind. I became excited by the innovation, passion. It stimulated me. The last five months have put me forcibly in the older world. I long to be back in the startup community with a vigour,” said Tata.

Shout out to entrepreneurs! Ratan Tata is back and ready to invest in your startup

<a href="http://www.businessinsider.in/topic/ratan-tata">Ratan Tata</a> has in the recent past invested in several <a href="http://www.businessinsider.in/shout-out-to-entrepreneurs-ratan-tata-is-back-and-ready-to-invest-in-your-startup/articleshow/57018459.cms">local startups</a> through his personal investment vehicle RNT Associates. Now, the septuagenarian wants <keyword id="6383155" type="UNKNOWN" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword>, a group of charitable institutions that own 66% of <a href="http://www.businessinsider.in/breaking-news-n-chandrasekaran-is-the-new-tata-sons-chairman/articleshow/56500469.cms">Tata Sons</a>, to invest in <keyword id="910850" type="COMPANY" weightage="20" keywordseo="social-enterprises">social enterprises</keyword>. As of now, these enterprises can only get grants from Tata Trusts. 
 
For this, a three-tier structure is being set up, which would fund socially relevant businesses before they receive support from Tata Sons; following this, they would catch the attention of several other investors. 
 
Also read: <a href="http://www.businessinsider.in/ratan-tata-interferes-in-all-decisions-thinks-himself-as-the-chairman-who-never-retired-cyrus-mistry/articleshow/56752544.cms">Ratan Tata interferes in all decisions, thinks himself as the chairman who never retired: Cyrus Mistry</a> 
 
"I have Mr Tata's support to set up a new fund that will straddle the middle path between philanthropy and venture capital. The fund will sit outside the Tata Trusts' architecture but will invest in socially relevant and viable businesses incubated within the trust," Manoj Kumar, head of innovation at the Tata Trusts, told ET. 
 
Tata Trusts has its innovation centres in Indian Institute of Science, Indian Institute of Technology and Massachusetts Institute of Technology, which would be used as the first layer in this structure. 
 
Socially relevant business ideas will get funds through grants that these institutions get, and the ones that will prove their worth would then get transferred to the Foundation for Innovation and Social Entrepreneurship (FISE), under Kumar's leadership. 
 
FISE will be the second layer of the structure. 
 
The third layer would then be a fund for enterprises with maximum potential for social change. 
 
Also read: <a href="http://www.businessinsider.in/tata-group-under-scrutiny-apex-body-of-chartered-accountants-is-looking-at-alleged-accounting-irregularities-at-tata-companies/articleshow/57150133.cms">Tata Group under scrutiny: Apex body of Chartered Accountants looking at alleged accounting irregularities at Tata companies</a> 
 
<a href="http://www.businessinsider.in/topic/Tata-Trusts">Tata Trusts</a> have been granting funds to educational institutions, and to individuals and non-profit organisations involved in socially useful work. Reputed cancer treatment facilities, viz. <a href="http://www.businessinsider.in/What-a-breakthrough-Tata-Memorial-docs-find-a-new-way-to-increase-lifespan-of-oral-cancer-patients/articleshow/47525007.cms">Tata Memorial Hospital</a> (Mumbai) and the Tata Medical Centre (Kolkata) have been running by the support of Tata Trusts. 
 
In last FY, the trusts collectively spent about Rs 800 crore in the form of grants, out of which more than two-third amount was spent on health, education, natural resource management and livelihood. 
 
(Image source: InsideIIM)

Tatas might start funding social enterprises

Mumbai, Music label Saregama on Tuesday said it has inked a music licensing deal with homegrown short-video app Josh by VerSe Innovation. With this deal, users of Josh can now access old and new songs from the Saregama library with over 1.3 <keyword id="10692564" type="UNKNOWN" weightage="20" keywordseo="lakh-songs">lakh songs</keyword> to create <keyword id="10692565" type="UNKNOWN" weightage="20" keywordseo="innovative-content">innovative content</keyword>. Saregama said it will license its entire catalogue to Josh allowing users to create content inspired from its music library in diverse Indian <keyword id="6360075" type="UNKNOWN" weightage="20" keywordseo="Languages">languages</keyword> like Hindi, Bhojpuri, Bengali, Tamil, Marathi, Telugu, Malayalam, Kannada, Punjabi and Gujarati, amongst many others. "Our partnership with Josh is another example of how more and more people find evergreen music relevant, with age no bar," Vikram Mehra, Managing Director of <keyword id="264154" type="DOMAIN" weightage="20" keywordseo="Saregama-India">Saregama India</keyword>, said in a statement. "Saregama has music to offer to all generations and age groups across languages. It's great to associate with Josh and see such innovative content getting created." Saregama holds the catalogue spanning genres like film/non-film songs, devotional music, ghazals and indipop in more than 25 languages. "Music is a universal language, and language is at the heart of every endeavour and innovation at Josh," said Umang Bedi, Co-founder, Josh. "This partnership is a great reminder of that focus - one that makes sure there's a song for every user, creator and moment on Josh, today." Over 77 million monthly active users on Josh can now create content to songs by legends like <keyword id="31278" type="PERSON" weightage="20" keywordseo="Lata-Mangeshkar">Lata Mangeshkar</keyword>, <keyword id="6378234" type="PERSON" weightage="20" keywordseo="kishore-kumar">Kishore Kumar</keyword>, <keyword id="104131" type="PERSON" weightage="20" keywordseo="Mohammed-Rafi">Mohammed Rafi</keyword>, Asha Bhosle, Gulzar, Jagjit Singh, R.D Burman, Kalyanji Anandji, Geeta Dutt and Laxmikant Pyarelal making their experience on the platform even more engaging and fun. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-ratan-tata-and-anand-mahindra-might-come-together-for-indias-new-national-hydrogen-mission/articleshow/80645570.cms">Mukesh Ambani, Ratan Tata, and Anand Mahindra might come together for India’s new National Hydrogen Mission</a> <a href="https://www.businessinsider.in/stock-market/news/indigo-paints-shares-listed-at-2607-which-is-at-75-premium-to-the-set-price-band-at-1488-1490-per-share/articleshow/80643645.cms">India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price</a>

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