Vol. VI Iss. 1 IMT Hyderabad

Social Entrepreneurship & Innovation

EMPRESSARIO …An Entrepreneurial Insight

JANUARY ‘2013

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CONTENTS

Prarambh Speaks ……………………………………………………1

WHACKY IDEAS THAT WORKED!!

Attero Recycling: An environment friendly

startup…………………………………………………….……………. 2

Monthly Features

Looking Ahead for Greener India………………………..5

Social Entrepreneurship & Sustainable Growth:

A myth or reality ....................................................................8

The Online Restaurant Guide: ZOMATO……..…………..10

The Social Enterprise Magic Bus- II……………….………. 14

Add-o ns

Readers’ Corner ……………………………...……………………..15

Team Prarambh ..…..…………………………………………..…...16

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Prarambh Speaks

“With a stout heart, a mouse can lift an elephant” - Tibetan proverb

One look at the proverb and you think what has it go to do with the newsletter. You would

think for a second why the newsletter has suddenly changed its tone towards being

philosophical. The reason behind is the current economic scenario, with articles in newspapers

saying authorities are optimistic about the growth of the economy.

As our economy is on the recovery path and our businesses full of optimism, as students, we

too look forward towards a positive change of things. So this edition, we look for sustainability

and innovation in business. As mentioned in the last newsletter about IMT Hyderabad hosting

two American schools, Portland State University and Columbia School of International and

Public Affairs for their projects on Social Enterprises through SE Magic Bus, so we had a small

conversation with a couple of students from Columbia University, while they were here this

month for their project on Social Enterprise and Sustainable Development.

We also have been receiving a lot of articles on Social Enterprises from different B-Schools

across the country. It feels great to know that we can do so much in the field of social

enterprises and innovation.

We look forward for more sharing of ideas and facts so that we can try to make the world a

better place through innovation and optimism.

Happy reading

Team Prarambh

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WHACKY IDEAS THAT WORKED !!

Attero Recycling: An environment

friendly startup

(Deepanshu Bhatia, TAPMI, Manipal)

Ever wondered where to dispose off your

laptop, tablets and mobile phones? Where

does all the hardware associated with

technological world go? The Gupta siblings

(Nitin and Rohan) certainly have the

answer.

A B.Tech in electrical engineering from IIT-

Delhi and MBA from NYU Stern School of

Business, Nitin Gupta (32) founded Attero

Recycling in 2007 with his younger brother

Rohan. The first Indian company for e-waste

recycling, Attero means ‘waste’ in Latin.

It is not as easy as it may sound. The siblings

had their fair share of tough time. Apart

from land and machinery, the project was

dependent on research unit. Like any other

business start-up, Gupta siblings were

dependent on funding for the same.

Fortunately, in 2008 they raised $6.3 million

from Venture Capitalist firms.

It is not as easy as it may sound. The siblings

had their fair share of tough time. Apart

from land and machinery, the project was

dependent on research unit. Like any other

business start-up, Gupta siblings were

dependent on funding for the same.

Fortunately, in 2008 they raised $6.3 million

from Venture Capitalist firms.

“A representative will come to your doorstep to collect laptops, cell phones and other e-waste (even single pieces) if you call the helpline number,” explains Gupta. “The company already boasts of a clientele that includes GE, LG, KPMG, Nokia Siemens, Visa and The Leela.” (Source- http://www.iitdalumni.com/node/76532)

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Facts:

Funded by - VC firms NEA-IndoUS

Ventures and Draper Fisher Jurvetson.

It is the first e-waste recycler to be

registered with the Central Pollution

Control Board (CPCB) and Ministry of

Environment & Forests.

It is recognized as Tech Pioneer 2012 by

WEF

In the last financial year, the company

processed 4,000 tonnes of ewaste.

About 70 per cent of the company’s

revenues currently come from private

sector companies. The government

sector accounts for another 20 per cent

and the rest comes from the banking

and financial services sector.

Greenpeace India has projected that

there is 8 lakh tonne of e-waste

generated from electrical and electronic

waste in the country. By 2012, this will

double to 1.6 million tonnes.

Interesting Information:

1. Their website http://www.attero.in/ has

few interesting taglines as below

We’re rewriting the future

We’re re-formatting the earth

We’re growing trees out of

technology

This shows that they are not only into a

serious business but also careful about their

image projection! A cue for budding

entrepreneurs.

Image_Source:

http://www.advertolog.com/attero-

recycling-6621405/print-outdoor/lets-

change-the-nature-of-e-waste-14794105/

(*Image might be subject to copyright)

2. Another interesting initiative is

‘Atterobay’.

For those who are new to this concept

“Atterobay encourages recycling and re-use

of mobile phones through environment

friendly ways. So if you are wondering if I

sell my mobile how much money will I get?

Search on our website to see an up-to-date

valuation of your handset model. Our easy

to use website allows you to sell your old

mobile phone online with a pickup from the

comfort of your home depending on your

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availability and convenience. Not bad,

right?” – (Quote from website)

Attero Recycling has early mover’s

advantage and very few competitors in

current scenario. It may expect high growth

potential in the segment in coming years.

Also, India has adopted a new e-waste law

in 2011 that makes companies liable for

their own e-waste. This is like cherry on

cake for the Gupta siblings.

Already 5 years into the business, it’ll be

interesting to observe in which direction

‘Attero Recycling’ heads to. Nevertheless,

it’s definitely need of the hour. As their

punch line reads – ‘It’s never waste, until

it’s wasted’, I wish for their better future!

References

http://startupcentral.in/2012/05/attero-

recycling-bets-on-retail-consumer-market-with-

atterobay/

http://articles.timesofindia.indiatimes.com/201

1-06-12/pune/29649769_1_abhishek-pratap-

brominated-flame-retardants-electronic-wastes

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Monthly Features

Looking Ahead for Greener India

(Divya .S, Indian Institute of Management, Lucknow)

The objective of every business is to reduce

and eliminate waste to improve cost

effectiveness and operational efficiency.

There are some industries which break the

rule and add value to the society by working

on waste resources. Such industries work

dedicatedly towards solid waste conversion

and safe disposals through technology and

collectively constitute the ‘Solid Waste

Management’ (SWM) industry. As India is

rapidly developing with increased

urbanization and industrialization, SWM

business has a foreseeable future.

Overview of solid waste

management industry

The main process includes solid waste

collection, transportation, conversion into

different forms and disposal of hazardous

materials. The first two steps, namely

collection and transportation of waste, can

be done in smaller economies of scale and

can use the Hub and spoke type of Business

Model (i.e. collecting waste from different

locations to a centralized place). The next

process of treatment of solid waste and

conversion is a large business with

substantial fixed investment in machinery

and technology. In India, this type of

industry is encouraged by the government

as a public private partnership with a BOOT

model to modernize the whole industry.

The main advantage of the business is that

the input resources (waste) are available in

plenty and are growing at a faster rate (i.e.

One can easily acquire the required

resources).

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Adding value proposition

through innovation

SWM industry is mainly driven by

innovative technology to convert the waste

more efficiently. The industry can be

extended by adding value to the material

they convert from waste. E.g. if one is able

to convert waste polyethylene into

biopolymers (used in critical medical

applications) instead of recycled plastics, it

will add more value to the business model.

The underlying fact is that, companies have

to acquire technical competency to discover

a cost efficient way to convert polyethylene

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into biopolymers. Similar research is being

conducted on extracting bio diesel and

petroleum feedstock from organic waste.

Further development of the above process

into commercially viable industrial

technology is the main challenge and herein

lies the future for solid waste management

companies. Another major developing area

is electronic waste, popularly known as ‘E

waste’. According to the recent data by

hardware manufacturers association - Mait,

India presently generates about 400,000

tonnes of e-wastes annually of which only

19,000 tonnes are recycled. Developing an

incentive plan for depositing the e waste

will encourage the households to dispose

the waste in a proper manner.

All the above technological improvements

are possible with the integration of two or

more branches of science and engineering

such as biology, chemistry, energy, polymer

science, etc. along with integration of

industrial and manufacturing process.

Looking for opportunities in one sector by

leveraging the other will increase the scope

of the business. Eg: with the generation of

chemicals from E waste, the scope of

industry has increased ranging from

electrical & electronics to chemical industry.

Also different kinds of input from various

sectors will increase the production-

possibility frontier a company. Companies

can also gain the competitive advantage by

customizing the waste conversion process

in every region along with local

governments.

On the whole, SWM companies have to act

as an interactive platform with the public in

creating awareness, with the government

to utilize the resources, with other

businesses to develop the technology. This

will definitely make the SWM business

lucrative in India.

References http://www.ihs.com/products/chemical/technology/

pep/chemicals-from-agricultural-wastes.aspx

http://siteresources.worldbank.org/ENRLP/Resource

s/460956-

1163449042857/Private_Sector_Participation.pdf

http://www.business-

standard.com/india/news/india-gets-first-e-waste-

management-rules/438474/

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Social Entrepreneurship &

Sustainable Growth: A myth or

reality?

(Punit Bhansali, IIM Shillong)

Mahatma Gandhi once said, “The World has

enough for everyone’s need but not for

everyone’s greed”.

The world today is facing a massive

economic slowdown and we are once again

standing at the door steps of yet another

recession like that of the year 2008. The

inability to revive the economy clearly

indicates that there is a definite error in our

growth strategy. Now we have to decide

that whether we will be driven by our greed

or we will try to develop and grow in a

sustainable manner.

In the past few decades there were many

instances which indicated that shortcuts

and unethical ways employed by the

companies led to their collapse. The burst

of ‘Dot Com Bubble’ in early 2000 was the

result of human greed and motive to earn

maximum profit by investing in an area with

very high growth rate and opportunity.

Another eye opener was the collapse of

mighty Lehman Brothers in 2008 which was

once one of the leading investments. But the

lust of earning more and more drove it to

keep all the rules and regulations aside and

take high risks in lending money. Had it

chosen the path of sustainable growth it

might have been one of the top most

investment banks today.

The need of the hour is to plan a strategy

where we can achieve the appropriate

growth rate but not at the expense of

exploiting resources and hampering the

environmental balance. This goal is not

unrealistic as is evident from various

examples where the organizations are

making profits with sustainable growth.

A highly innovative and unique model is

adopted by a tribal community in

Meghalaya, to conserve forests and

simultaneously generate income to feed an

entire village. The ‘Mawphlang’ forests

situated in the East Khasi Hills district, 25

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Km from Shillong, are kept conserved

through centuries. The tribal communities

taking care of these forests came up with an

idea to generate income from carbon

credits by reducing emissions from

degradation and deforestation (REDD).

REDD is a pilot project where the

community managing and safeguarding the

Mawphlang forests is paid by the

government and UN for reducing the

Carbon Dioxide gas from environment by

preserving the forests.

The forests are considered to be sacred

with no external use of forest resources

permitted but the untapped resources can

be used within the forest premises for

various purposes. The forest contains a

wide range of bio-diversity and flora of

great medicinal and nutritional value.

The Mawphlang forest trust or the tribal

community have implemented several

sustainable ways to raise funds like

organizing meditation camps, bird watching

for photographers and nature lovers,

hosting food festivals and ecological

conferences, charging a nominal entry fees

(forest safari), developing Ayurvedic

medicines for treatment of various diseases

and even incurable diseases like cancer etc.

Thus on one side they are ensuring that the

resources will be used in a judicious way

and on the other side they are earning

livelihood for the villagers living in and near

the forest premises.

Mawphlang Sacred Groove

There are numerous examples to show that

achieving ‘Sustainable growth’ is realistic.

But we must learn to cater to our needs

rather than to our greed. If we succeed to

come up with several similar models for

sustainable growth than the day is not far

where we can really achieve UN’s concept

of Green GDP rather than GDP which will

posturize the growth of a country, focusing

on environmental issues.

References

http://www.goodreads.com/quotes/427443-

the-world-has-enough-for-everyone-s-need-but-

not-enough

http://megtourism.gov.in/ecodestination.html

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The Online Restaurant Guide:

ZOMATO

(Saumya Rastogi, NMIMS, Hyderabad)

In today’s world, people have a busy

schedule and not much free time on their

hands. Whenever they get some time

people like to go out with their loved ones.

The idea of going out mostly involves going

to a lounge, a restaurant, a club, etc.

Different people opt for different places.

Some people like trying restaurants,

cuisines. A few want to go to places suited

to their budget, whereas some prefer

places close to their residence. Everyone

desires knowing these things beforehand.

Zomato.com helps and provides details of

all the places as per the individual’s

requirement. Zomato.com is an Indian

website which provides information related

to restaurants, pubs, clubs and events in

India, Sri Lanka, UAE and UK. The company

provides detailed information to more than

nine million online users and web

platforms, every month.

The Origin of Zomato

Zomato.com was started in 2008 by

Deepinder Goyal and it was initially named

‘FoodieBay’.

Deepinder Goyal is an IIT-Delhi graduate

with Integrated Masters in Mathematics

and Computing. While working with Bain

and Company, a leading management

consulting firm, Deepinder noticed that the

employees in the office would gather to

look at menu cards to order food. It was

then that he came up with an idea to

prepare an online database of all the menu

cards. Thus, Deepinder along with his

college juniors Pankaj Chaddah and Gunjan

Patidar prepared an online database and

called it Foodiebay. The database started in

places such as Delhi, NCR and spread to

Kolkata, Mumbai and other cities.

In 2010, the company got an investment

from Infoedge, the parent company of

Naukri.com and soon it was rebranded as

Zomato. The company launched

applications for iOS, Android, Windows

Phone and Blackberry devices.

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Zomato.com

The website is an online food guide which

provides information and reviews about

restaurants, pubs, clubs and events. It

allows users to explore restaurants by

location, delivery, nightlife etc. The

information provided includes address,

timings, cuisines, cost, payment methods,

special events, and concerts to be held and

also reviews and from people who have

visited the place earlier. Customers can

easily look through the options available

and choose the place which suits them best.

Strategy and Expansion

Zomato has been trying to position itself in

the minds of people through

advertisements, twitter and also physical

activity. It has launched advertisements on

TV. It started a FoodieFriday quiz on

twitter. Some of the physical activities it

conducted in 2012 include food marathons

such as FoodSprint in Delhi and Zomathon

in Bangalore and Mumbai. Teams were

formed and challenging tasks involving food

were given to the teams. Zomato also

launched its print version of restaurant

guide. The company also started online

ticketing for its ‘events’ section around New

Year for restaurants and hotels in Delhi,

Mumbai, Bangalore and Pune.

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The company plans to invest USD 2 million

to expand its operations in the country and

abroad. In India, Zomato plans to make its

presence felt in Goa, Guwahati, Shillong and

Kochi and also target Europe and Middle

East by 2014. It has also started its blog.

The company also plans to increase the

number of employees during the year.

Thus, truly ‘Zomato is all about food and

where you can find the best of it’. So next

time when you want to go out and you are

unable to find a place, log on to

Zomato.com and you will surely find a

plethora of places you can visit to spend our

time.

References:

http://economictimes.indiatimes.com/news/ne

ws-by-industry/services/hotels-/-

restaurants/zomato-to-invest-2-mn-for-

expansion-in-fy-14/articleshow/18076998.cms

http://www.indiainfoline.com/Research/Leader

Speak/Deepinder-Goyal-Founder-and-CEO-

Zomato/36925196

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The Social Enterprise Magic Bus- II

(Kaustubh Tandon, IMT Hyderabad, PGDM)

The Social Enterprise Magic Bus Program in its

second pit stop in India was at IMT Hyderabad

with a fresh set of students. It was the turn of

the students from Columbia University to

experience India as a country which has

tremendous potential for social

entrepreneurship but along with that, it has its

own set of problems. This methodology of

teaching on the Bus during the visits to

potential social entrepreneurial avenues is the

brainchild of Kim Alter, who is a social

entrepreneur, social enterprise consultant and

has twenty years of experience in the field

including her six year stint at Said Business

School, University of Oxford.

In their venture, the students got the

opportunity to visit Bhimavaram which is a

small village in Andhra Pradesh. It’s a maxim

that ‘’India lives in the villages”, going by that,

the students had a first-hand account of

exploring the elementary socio economic fabric

of the country. Though the Social

Entrepreneurship working in tandem with IMT

Hyderabad students highlighted some serious

issues to be addressed , yet were highly

optimistic after meeting the local villagers . The

old methodologies coupled with new

approaches stimulated by the Government, as

per them would prove to be instrumental in

realizing the objective.

The background of the students was mainly

Public Policy and Health, interacting with PGDM

students facilitated a cross exchange of cultural

and academic ideas, with the guests enjoying

the local festivities with the natives. ‘Human

Resource is India’s biggest capital, they (Indians)

should improvise on that’ was the suggestion of

the students. They were amazed by the fact

that how the women ran their house holds on

less than a dollar per day. They advocated the

involvement of all the stakeholders in the

development scenario. Public private

partnership was called for by the delegates,

who said so after having a meeting with the

District Collector. The meeting was facilitated

by Dr. Archana Pillai, Associate Professor at IMT

Hyderabad. The visitors also shared their earlier

consulting works in the US, indicating some of

needs to carry out similar endeavours in India,

with special emphasis to insulate it from the

rampant corruption prevalent elsewhere.

The challenge of sustainability and scalability

also popped up, with advice to be more

cautious. Proper Staff selection and Adequate

Training were also some of the suggestions

given if the goal is to be realized, combined with

long term investment in Human Resources and

Capital.

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Add-ons

Readers’ Corner

Got any comments? Would you like to contribute to the newsletter? Get back to us at: ecellprarambh@gmail.com.

Your comments/views and articles would be published from the next issue. A few things to be kept in mind:

Articles/comments should not be demeaning / damaging in nature.

Articles should be to the point and of around 500 words.

The decision of selecting the articles to be featured and the number of such articles

rests with the faculty mentor and editor of the newsletter.

So put on your thinking caps and show us your intellect side.

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Team Prarambh

Faculty Mentor

Dr. Archana Pillai

Core Members:

Arjun Chaudhuri

Udit Luthur

Divya Vuppala

Vaibhav Chabra

Manish Vishnu M.

Designing, Compiling & Tech support:

Pankaj Kumar Gaurav

Prateek Mukherji

Editing team:

Rohit Seth

Anshika Rai

Ridhima Kumar

Tanay Kotriwala

Ameya Lingaraju

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Write to us: ecellprarambh@gmail.com

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