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Tuesday, 6 September 2016

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Thursday, 9 June 2016

Creditvidya Raises 2M Dollar From Kalaari Capital

CreditVidya, a financial technology startup that harnesses the power of non-traditional data to provide credit scores to millions of unscored Indians, has raised $2 million in Series A funding from Kalaari Capital. The investment will support CreditVidya’s plans to continuously advance their technology platform and launch additional products that help lenders approve more customers, minimize fraud rates and accelerate verification processes of potential customers. Speaking about the investment, Abhishek Agarwal,

Co-founder and CEO of CreditVidya said, “Non-traditional internet and mobile data sources provide a rich source of social, behavioural and transactional data which when combined with advanced analytics is fuelling a new wave of credit risk assessment. Our big data platform leverages over 10,000+ such unique digital data points to assess the creditworthiness of a potential borrower. We work very closely with our lending partners to develop customized scorecards for their product offering so that they can approve more creditworthy customers.

The goal to drive financial inclusion by enabling access to credit through our technology platform is what motivates us!” “Currently, credit bureaus rely heavily on traditional data streams such as details of repayment of loans and credit cards to generate credit scores. India’s demographic profile consists primarily of people without a credit history. CreditVidya’s solutions enable lenders to increase profitability by more accurately assessing the credit risk of these new-to- credit customers. We are thrilled to benefit from Kalaari’s expertise in scaling technology businesses to bring fair and transparent credit to millions of Indians.” added, Rajiv Raj,


Co-founder and Director of the firm. Together, Abhishek and Rajiv bring a wealth of expertise from their backgrounds in credit risk management, data analytics and retail lending. The company’s current clientele includes banks and non-banking financial institutions such as Fullerton India, Bajaj Finserv, IDFC Bank, Tata Capital and Shriram Housing Finance. It has also garnered interest from other verticals such as insurance companies, e-commerce companies and e-wallets.

According to Bala Srinivasa, ?Partner at Kalaari Capital, “Credit scoring is a major bottleneck in India inhibiting social and economic growth. Credit Vidya has built unique technology that enables lenders to assess credit risk of 800M+ Indians not covered by traditional credit scoring. We are excited to partner with CreditVidya in their mission to reimagine credit scoring in India.” CreditVidya has previously received angel funding from Siddharth Parekh from Paragon Partners and Silicon Valley-based angel investor Munish Mehta.

CreditVidya, is a financial technology startup headquartered in Mumbai. Founded in 2013, CreditVidya’s technology platform uses non- traditional data sources to provide credit scores to hundreds of millions of Indian customers. The technology platform helps lenders accurately assess risk of new-to-credit and thin file customers. Lenders benefit from increased approval rates, lower cost of underwriting and more effective product cross- selling and upselling.

Tuesday, 31 May 2016

Job Application Letter Is Your Worst Enemy. 20 Ways To Defeat It!

The world of job search is changing and has changed for many.  With the hiring managers trusting the applicant tracking system, what you require is a ‘game changer’ job application letter and resume. Just 6 seconds of attention for each resume and cover letter, your words should impress the recruiter from the very start.

Before you think of writing a job application letter, you have to direct efforts to two important aspects-the applicant tracking system (ATS) and which company/industry.

Let’s start with how to rank high and get into the hands of recruiters from the flood of job applications they get.



Top 5 Tips for Mastering Applicant Tracking System [ATS]

1. No Templates: Most of the ATS cannot read .docx, PDF, RTF, and JPG formats, so use a standard Word document.

2. Use Keywords and Phrases relevant to the work and job role in your descriptive achievements.

3. Keep simple formatting and avoid using headers, footers, borders, symbols or shading.

4. Do use the exact job title on top of your job application letter when applying for a position. Even though you have a personal connection, stick to the ‘exact job title’ in your cover letter.

5. Be careful inserting special characters and accents as these can be misinterpreted by an applicant tracking system


Well, now let’s focus on the company/industry and how to apply the right way.


Before you start writing you application letter, know what the company is looking for and whether you are a right fit to the company culture. Also your experience years decides whether to send a letter with your resume.

If you are a fresh college graduate or an entry-level professional, a well-written cover letter would be of great value.  Hiring managers can assess you written skills, specific job skills and attention to details.

Point to be noted: Candidates with 0-3 years’ experience can knock off competition with a cover letter submitted with the resume.


What about experienced candidates?


Gaining a few years of work experience, recruiters do pay more attention to your resume.  It is better, however, to submit your cover letter with your resume, even if it’s not asked for.  With a cover letter you can explain clearly pointers that may not be included in your resume.

Point to be Noted: If a company clearly mentions to not submit a cover letter and has their own directions, it’s best to follow the guidelines.


How to write a Job Application Letter:


Writing or not writing a cover letter with your resume depends therefore on industry and company. Many candidates also write a boilerplate cover letter which can be added with any job roles and sent to any company.

1. Write your job application letter which talks to the point rather going verbose.

2. Use Business English to write. Keep your creativity for some other time (other than if you belong to a creative field). Letter for creative jobs should be different than a letter to an EPC company.

3. A short cover letter of 3-4 paragraphs including the specific reasons from applicant’s for the job role is what most recruiters do read.

4. Focus on skills and experience in your application.

Point to be Noted: Include elements of business letter in your application, even if you are sending an email.

Save your recruiter’s time-

Your recruiter has few seconds to spare, given the sea of letter received by job hunters every day.

Do’ s

1. Show an interest in the job and company. You words should show familiarity with company’s mission and vision.

2. Your application letter should show you are motivated and eager to work in the company. Write what drives you to be part of the company you applied and how you present role fits into what you want to do.

3. Your qualities and skill-sets which are not part of resume should be described. In the limited time of your recruiter, write additional skills which are not clear from your cv.

4. Your recruiter should tell why you are different. Read bios of professionals in the same industry and similar role. Write something not mentioned by them. Differentiate.

5. You have to understand the type of company you are writing and tweak the writing tone. For example- writing in a formal tone for a gaming or food start-up would be boring.


Dont’s

1. Attach you resume and not your cover letter. Recruiters read the resume and skip the cover letter. Put your application letter in the email body.

2. Leaving the subject line blank. Many job hunters leave the email subject blank or do not write the apt subject description.

3. Do not cover the same job application again and again. Recruiters can tell.

Monday, 25 April 2016

Mark Cuban And Ashton Kutcher Invest Bodysurfing Innovation on Shark Tank

In a one-bedroom apartment in Dana Point, California, Steve and Angela Watts filmed a pitch, hoping to secure placement on ABC’s hit series Shark Tank for their bodysurfing product Slyde Handboards. This was the third time they had applied to the show, and they were desperate to finally attract investors. The Slyde Handboard is a small, lightweight surfboard worn on the hand. According to the inventors, it allows bodysurfers to easily change direction and skim the waves without having to carry around a cumbersome boogie board. In a pool of nearly 50,000 applicants, “Unless you have something that sticks out phenomenally, you really do have to sort of make yourself known. The Shark Tank recruiters told us, ‘Well, come back next year,’ for the second time, so we did and that was when we got our break,” said co-founder Angela Watts.

They were featured, with Ashton Kutcher, on Season 7. It was the first time this season that Kutcher, a celebrity guest shark, had appeared on the show’s investment panel. The couple requested $200,000 for 15% equity, and their brand caught the attention of multiple sharks. Though the couple managed to maintain poker faces during the pitch, they were giddy with excitement. “The best way I can describe it is a bit like bungee jumping for forty-five minutes, or leap standing on the edge of that wave of bungee jumping, because the adrenaline rush you experience is crazy,” said Steve Watts. While Lori Greiner said the brand was cool, she opted out and left the floor open to other sharks. Although he hadn’t made money with a previous similar venture, and was unable to see their products as an add-on project to his existing paddleboard company, Robert Herjavec matched their initial ask of $200,000 for 15% equity. “Mr. Wonderful,” Kevin O’ Leary, complimented the two on investing their wedding savings in the company, but said their numbers were too small.

He originally went out, but changed his mind, offering $200,000 for 15% as well. Kutcher said because he has zero experience getting products to market, he needed another shark. However, he said his online distribution channel could help the marketing operation, utilizing a pipeline that includes direct-to-consumer marketing and targeting demographics on Facebook. Mark Cuban then jumped in with him, offering help in the distribution category and even seeing that it was a potential match for an existing company in which he has equity, Tower Paddle Boards, which came into Shark Tank with $40,000 in sales, and is expected to bring in 8 to 10 million dollars this year. “Their products are night and day. That’s why they can partner. People want authentic products from authentic companies,” said Cuban in an email interview.


Originally, Cuban and Kutcher proposed 25% equity for $200,000. After negotiating several times, the couple accepted an offer of $200,000 for 22% equity stake of the company. “We would have taken the deal at 25%, but you don’t want them to know that, so we had to negotiate a bit. You have to put on a straight face, because it really is somebody basically saying, ‘I believe in you this much, so I am willing to give you $200,000.’ Even if it’s just $10, it shows they believe in you,” said Steve and Angela Watts. The idea for the handboard came from Steve Watts’ lifetime passion of riding waves during the hot South African days in Cape Town during his summer breaks, where he would try out various wave-riding apparatuses. “We could try to find anything we could ride a wave with, from broken surfboards to Frisbees, even our flip-flops, but our favorite was the fast-food tray,” he said in their opening presentation on Shark Tank. With a desire to enhance his bodysurfing experience, he used his background in product design and began working with people who had 25-30 years of experience in the shaping industry in South Africa.

Thus the Slyde Handboard was born. Steve Watts founded the company in 2010 in Venice Beach and worked locally from his garage. After bringing his wife on board in 2013, she quit her job and devoted full time to the company, bringing in more than $356,000 in revenue since the opening of the business. Previous fundraising campaigns include a successful Kickstarter in 2014 for another product, Slide Phish, which raised nearly $22,200. Another $10,000 was invested from what Angela’s mother had saved for the couple’s wedding. “We almost got married in Vegas, and when we got engaged, my mom said she had a present for us, which was $10,000 she had saved.

After paying a deposit and picking our wedding date, we ran out of money for Slyde. We couldn’t afford products. Our credit cards are maxed out. We had borrowed money from Steve’s parents already and his brother, so we were met with our last option. Mom, we need your wedding money,” said Angela. Their gamble paid off. Currently, with products retailing between $169 and $199, they did more sales in 24 hours than any full month after airing on Shark Tank, and since then the couple has moved Slyde Handboards to Orange County to be closer to the heart of the surfing industry.

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Tuesday, 8 March 2016

ixigo launches ‘ixibook’ to Simplify Travel Bookings

ixigo, India’s leading travel search marketplace has announced the launch of “ixibook”, which will allow travellers to make bookings for flights and hotels within its app without being redirected to a third-party app or website. ixigo has collaborated with Cleartrip, a leading online travel agency, and OYO Rooms, India’s largest branded hotel network, as its launch partners for flights and hotels respectively.

On the launch, Aloke Bajpai, ixigo Co-­founder & CEO said - “This is a first of its kind innovation in the Indian travel market, and we have chosen to work with the industry’s best for our initial launch. With ixibook, we will deliver a much smoother customer experience for ixigoers and enhance conversions for our partners by allowing users to book with them natively within our app. We expect to move over 30% of our flight and hotel bookings to ixibook within the next few months, as well as add more partners to ixibook later this year.”















Commenting on the launch, Stuart Crighton, CEO, Cleartrip said - “We’re excited to partner with ixigo on this first-of-its-kind paradigm where an online travel agency and meta-search collaborate closely to create a better user experience, something that we both value immensely.” Ritesh Agarwal, CEO, OYO Rooms added - “ixigo possesses deep insights into traveller-behaviour and a rich content focus. Through this collaboration, their audience will find value in our offerings and we will be able to expand our reach to engage leisure travel enthusiasts.”

Currently available on ixigo’s android app, ixibook allows a user to book a flight or hotel in just one tap. The idea behind the product is not only to enable direct in-app booking but also to save a traveller's time by shortening the conversion funnel. ixibook also stores traveller information, thereby considerably reducing booking time for all subsequent transactions. Post-booking customer support is handled directly by the respective partner. ixibook will also be launching on iOS and web platforms in the coming weeks.

About ixigo

Launched in 2007 in Gurgaon, India by Aloke Bajpai and Rajnish Kumar, ixigo is India’s leading travel search marketplace, connecting over 70 million travellers with content & deals from over 25,000 online & offline travel & hospitality businesses. ixigo aggregates and compares real-time travel information, prices & availability for flights, trains, buses, cabs, hotels, packages & destinations. ixigo’s mission is to simplify the lives of travellers by building apps that make their travel search and planning hassle-free and it has won several awards in its journey, including the TiE-Lumis Entrepreneurial Excellence Award and the NASSCOM Top-10 Emerge Award. ixigo’s investors include SAIF Partners, MakeMyTrip & Micromax.

Wednesday, 8 October 2014

Joyce Banda asks religious leaders to pray for elections

President Dr. Joyce Banda has asked churches in the country to pray for a peaceful electoral period saying there should not be any bloodshed. 
“It is the duty of any God fearing Malawian to pray for peace in the country and people should not despair for God is the sole provider to every individual,” Banda said.
“As a nation we have to thank God for what he continues to do to this country. We particularly need to pray for the forthcoming elections so the country continues enjoying the peace that we have,” Banda added.
President Banda was speaking on Sunday at St. Peter and Paul Cathedral of the Anglican Diocese of Upper Shire in Mangochi when bidding farewell to Reverend Canon John Chilombe who has been assigned to Luapula Anglican Diocese of Zambia as Missionary.
The function also coincided with the feast of annunciation of the birth of Christ to Mother Mary.
President Banda said people had every reason to thank God for since every day was a bonus. “We should consider every day of our lives as a bonus because most of colleagues passed away a long time ago but God continues to safeguard us.”
On this note, Banda reiterated that there was need to advance cordial relationship between the church and government in order for the country to realize meaningful and sustainable development at all levels.
“I cannot agree more with the previous speakers on the need for the church and government to work closely together in development activities – the two (government and church) should always complement each other,” she emphasised.
She also commended the Anglican Church for implementing various projects in the health and education sectors and pledged to support the church’s Mother’s Union Guild through her market women initiatives and activities with some small grants so that they equally participate in socio – economic activities.
In his remarks, Bishop of the Anglican Diocese of Upper Shire Reverend Brighton Malasa said the Anglican Church was very grateful to government for creating an enabling environment for its development partners to operate in.
“The Anglican Church cherishes the cordial relationship existing between the church and the government in working in complement to each other,” Malasa said. “We (Anglican) are just sustaining what earlier missionaries initiated after noticing that there was great need for improvement in health and education.”
“The Anglican Church has been working hand in hand with government in improving the welfare of people in the area of education as well as in health,” Malasa said.
The prelate observed that it was sad to note that many Malawians were still reeling in poverty as country celebrates 50 years of independence, pointing out that the Anglican Church would work tirelessly to promote the welfare of Malawians.

Commenting on the forthcoming tripartite elections, Malasa asked political parties to practice civilized politics by addressing issues instead of castigating others during campaign rallies to avoid provoking each other degenerating into violence.
“I would to take advantage of this opportunity to appeal to all political parties contesting in May 20 tripartite elections to refrain from violence and practice clean or issue based campaign if we have to make the elections peaceful,” he emphasised.
Malasa, therefore, urged Malawians to respect their leaders because leaders are chosen by God.
In his sermon, Robert Mumbi Bishop of Luapula of Anglican Diocese in Zambia advised Canon Chilombe to strive at working dedicating his life to God like a messenger who listens attentively to the one sending to avoid distorting the message.
“Be it what you may, priest, civil servant or a business man – avoid the fashions and temptations of this world. God sends people in various capacities to serve with a sense of service and zeal to work,” Mumbi said.
Mumbi, therefore, challenged the gathering that the Lord is sending everyone to serve without regard to what they were in society. 
Rev. Cannon John Chilombe born in 1951 was ordained to priesthood in 1993. Before his posting to Zambia served in various establishments of the church including that of dean for St. Peter and Paul Cathedral Church at Mpondasi in Mangochi until his appointment to Foreign Service.
He becomes a third missionary priest from Malawi Anglican Church to work in Zambia after Leonard Kamungu who served in Eastern Zambia Diocese of Anglican between 1910 and 1913 and Bishop Bernard Malango who served in the Northern Diocese of the church in Zambia.

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Monday, 25 August 2014

Joyce Banda : A New Leader for Africa



Joyce Banda, president of Malawi since April, is already a beacon of hope for that desperately poor country, but also for good governance across a continent long plagued by its opposite. Banda has captured the world's attention in short order -- and not just by revealing how she believes she barely escaped assassination by her predecessor, the late Bingu wa Mutharika, or those close to him. President Mutharika had made his brother foreign minister and was grooming him to replace him. Warned by her security guards, Banda switched cars only to see the car she was to be in hit by a large truck.

But much more than the intrigue of a failed assassination -- or her gender in a male-dominated culture (and continent) -- has brought her the world's attention.

Shortly after assuming office -- in a country where 40 percent of the people live on less than $1 a day and the majority can't afford even a bicycle -- Banda declared she would sell the presidential jet and a fleet of 60 Mercedes limousines. When she travels abroad, she flies commercially, even though the air service to Lilongwe is so bad she can get to few places without spending the night in Johannesburg.

"Malawi is half across the river, and the other bank is within reach," said International Monetary Fund head Christine Lagarde, when she visited Malawi in early January -- one of only two nations on her tour. She praised Banda for moving to devalue Malawi's currency -- despite knowing she would face huge domestic political problems. The new president's resolve drew the admiration of donors and the attention of investors, most of them long wary of Malawi. Under the crushing rule of Banda's predecessors, the poor country was getting only more desperate and corrupt.

Mutharika had expelled the British Ambassador after Wikileaks reported that he had told the British Foreign Office in London that the president was "becoming ever more autocratic and intolerant." Banda welcomed the British back.

In July, it was Malawi's turn to host the African Union summit, a great honor for a nation that received only 760 tourists in all of 2012. But Banda set one condition. Saying she didn't care if Malawi lost the summit, Banda refused to welcome Sudan's leader, Omar al-Bashir, who has been indicted and sought by the International Criminal Court in The Hague for crimes against humanity. The summit was moved to Ethiopia. Al-Bashir attended. Banda stayed home.

She also took little time to purge government leaders of questionable integrity, including a police chief accused of responsibility for the death of 19 people in anti-government riots. Mutharika's brother was sacked too. Banda could have attempted to prosecute him and get him out of her way politically; many felt she had cause for his involvement in a conspiracy to deny her the office of president, but she thought it better for Malawian democracy for her not to.

Banda said she was going to reverse Malawi's legal ban on homosexuals, but was able to do so for only a brief 10-day period in November; sadly, she has so far been unable to take on furious opposition led by religious leaders, but her declaration was courageous, and the time could come.

Banda recently told South African journalist and Sunday Times (London) correspondent RW Johnson, "Under Bingu I was marginalized, scandalized, humiliated and he even tried to kill me. So, having been a victim of dictatorship myself I want to do all I can to protect human rights. Human rights and good governance are vital to a democratic society. We have to strengthen our institutions -- and that means I've had to sack a lot of people who were undermining them through corruption or nepotism... I've set up a special monitoring unit within the presidency to watch out for corruption. We also have to ensure that aid is properly spent."

Banda understands that foreign aid can't solve Malawi's problems. "We can only get out of this by our own efforts," she told a group of visitors last week, among them two former presidents. In Malawi for a meeting of the Aspen Institute's Global Leaders Council for Reproductive Health (GLC), Presidents Mary Robinson of Ireland and Vaira Vike-Freiberga of Latvia comprise part of a global cheering section for Malawi's president, their colleague and a founding member of the GLC.

A key to Malawi's future may lie in whether Banda can be elected in her own right next year. The opposition is vigorous, determined to get back the spoils of government. But it is divided. And if women vote in the numbers expected, she should be able to win. She is hoping that her reforms have time to show results. The people of Malawi are used to governments promising much and delivering little. She is determined to reverse that trend, and to do so in a way that preserves democratic governance -- and that benefits the poor majority. If she succeeds, she will be an example for all of Africa.

Another key to its future is that Malawi could soon join some of its neighbors in mineral riches. Large deposits of oil and natural gas are now presumed to lie under Lake Malawi, and uranium and rare earths have been discovered. If she can be elected -- and she would be eligible under Malawi's constitution to serve two terms after this partial term -- she could put a lie to another curse of African development: that mineral wealth leads to greater inequality, corruption, and even war. Given the initial evidence from her first year in office, Joyce Banda could be the ideal leader to assure that mineral wealth benefits an entire African nation, and not just those who extract the wealth and those in government and their families and cronies who are given shares of it. .



And Banda has not lost her passion for tackling the most intractable of Malawi's problems; as an activist for women, especially the rural poor, Banda has sought access to almost everything for them -- education, electricity, and the most basic health care. She is a champion above all for providing access to free or affordable education to rural girls, few of whom stay in school past the age of 10.

Malawi's appalling rate of maternal mortality is explained to some extent by the lack of support for educating girls. With no education, an early marriage becomes the only option. Finally, with limited access to family planning, and unable to pay for medical care, or the transportation to travel to a hospital, or even a clinic and trained midwives, women have too many babies too young, often leading to death from complications during pregnancy or childbirth.

It is worth looking closely at the elements of Banda's Safe Motherhood Initiative, aimed at reducing the nation's terrible maternal death toll. Inspired by her human rights conviction that, as she says tirelessly, "even one maternal death is too many," Banda's plan is founded in the realities of what can be achieved in a country with little money, poor infrastructure, deeply rooted cultural impediments and with a daunting shortage of trained medical personnel.

She hopes to raise salaries and improve working conditions for nurses and midwives, and to convince women to space their children and to have their babies in hospitals, rather than at home. Banda says success will rest on the willingness of the nation's most influential leaders -- the traditional village chiefs. In many communities, local chiefs have already begun to exact a fee of a goat or a chicken if a woman has her baby in the village, where she is more likely to suffer life-threatening complications. The incentive is working, according to the President of the Chief's Council.

At dawn on a recent morning at a hospital in Mponela, Malawi, Zinc Chilenje, a nurse who is on call 24 hours a day, had helped two local women give birth to baby girls. He said it had been a good day. Though he had only two beds in the birthing room, he had not had to juggle his charges. Just one more birth would have made the night much harder.

The program in Mponela is funded by the U.S. Agency for International Development. This means Chilenje has a good stock of contraceptives to help local women space their children, and support from a team of volunteers in the villages who provide contraceptives and help monitor the women's health. Not too far from the hospital is a shelter where expectant mothers can stay in the weeks before they give birth. Not one woman has died in the hospital since 2006, but Chilenje wonders how the success can be replicated across the resource-strapped country.

About 60 miles away in Lilongwe, at the opulent palace built by her predecessor, the president of Malawi is asking herself the same question. One day last week, looking out at the friendly faces of of her fellow members of the Aspen Global Leaders Council, she vowed to fight for the means to expand her life-saving initiative. "No woman should die giving birth to another life," she said. "It will take political will. And that starts with me."

Every year an estimated 3,000 women die in Malawi during pregnancy or in childbirth -- a rate of 675 deaths per 100,000 live births. To meet the relevant UN Millennium Development Goal, the rate will have to fall to 155 by 2015. It's a challenge no other country has met in such a short timeframe. Banda has drive, and a dedicated staff, but she won't be going it alone. "We leave here with a profound sense of commitment," President Robinson told her Malawian colleague. "Malawi speaks to issues the world needs to care more about -- not only for Malawi, but for women everywhere. I assure you, we will help you."
 
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