<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5d003af96fc92042d7279323-2400/github erica brescia.jpg" border="0" alt="GitHub, Erica Brescia" data-mce-source="GitHub" data-mce-caption="GitHub COO Erica Brescia" />GitHubErica Brescia has joined GitHub as chief operating officer.</div></div></div><ul class="summary-list"><li>Keeping an eye on major hires and promotions is one of the best ways to understand a company's strategy. </li><li><a href="https://theorg.com/">The Org</a> tracks executive changes at companies big and small. </li><li>Here's a snapshot of the most important executive moves of the week across tech and media. </li></ul>Every week we bring you an overview of the most important executive changes from the past week. This week, MasterClass hired a new Chief Marketing Officer to lead a growing team focused on brand strategy, consumer insights, product marketing, performance marketing, and campaign activations. Read more about this and other notable executive changes:MasterClass hires David Schriber as Chief Marketing Officer<a href="https://theorg.com/org/masterclass">MasterClass</a> has announced that <a href="https://theorg.com/org/masterclass/team/david-schriber">David Schriber</a> has joined the company in a newly created role as Chief Marketing Officer. Schriber was previously Vice President, Global Brand Experience, Creative, and Innovation at <a href="https://theorg.com/org/nike">Nike</a> where he led the global marketing functions through the brand's shift to digital.GitHub hires Bitnami co-founder as Chief Operating Officer<a href="https://theorg.com/org/github">GitHub</a> has hired <a href="https://theorg.com/org/github/team/erica-brescia">Erica Brescia</a>, who was previously co-founder and COO of the startup Bitnami, as its new Chief Operating Officer. Bitnami was recently acquired by <a href="https://theorg.com/org/vmware">VMware</a> which freed her up for new opportunities. At GitHub, Brescia will lead the business development, support, and workplace teams.Sandra Rivera promoted to Chief People Officer at Intel<a href="https://theorg.com/org/intel/team/9257">Sandra Rivera</a> has been promoted to Executive Vice President and Chief People Officer at <a href="https://theorg.com/org/intel">Intel</a> reporting to CEO <a href="https://theorg.com/org/intel/team/25971">Bob Swan</a>. Previously, Rivera was responsible for the Network Platforms Group, and served as Intel's 5G executive sponsor. Rivera replaces Matt Smith, who announced his retirement after more than 20 years at the company.PepsiCo announces new Chief Commercial Officer<a href="https://theorg.com/org/pepsico">PepsiCo</a> has announced that <a href="https://theorg.com/org/pepsico/team/2634">Ram Krishnan</a>, currently Chief Executive Officer of Greater China, has been appointed to the role of PepsiCo's Global Chief Commercial Officer. He replaces Laxman Narasimhan who is departing the company to become Chief Executive Officer of the <a href="https://theorg.com/org/rb">Reckitt Benckiser Group</a>.LendingClub hires Chief Marketing Officer from Intercom<a href="https://theorg.com/org/lending-club">LendingClub</a> has announced that seasoned marketer <a href="https://theorg.com/org/lending-club/team/alexandra-shapiro">Alexandra Shapiro</a> will join the company as Chief Marketing Officer. Prior to joining LendingClub, Shapiro served as Chief Marketing Officer at <a href="https://theorg.com/org/intercom">Intercom</a> and <a href="https://theorg.com/org/bigcommerce">BigCommerce</a> and held senior positions at PayPal and Providian Financial.Christian Wylonis <a href="https://theorg.com/">is the co-founder and CEO of The Org</a>, where you can meet the people behind the world's most innovative companies, explore organizational charts, stay updated on team changes, and join your own company. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/goldman-marcus-executive-speaks-on-apple-card-2019-6">WATCH: A Goldman Sachs Marcus exec explains why Apple is the perfect partner for their new credit card</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/JsOLEpwM-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Here are the latest executive power moves that help explain everything that's going on at MasterClass, Github and Intel

<ul><li>Online learning platform <keyword id="6559242" type="UNKNOWN" weightage="20" keywordseo="great-learning">Great Learning</keyword> has announced a senior level learning programme ‘AI for Leaders’ in partnership with University of Texas, Austin. </li><li>In the last two years, there has been a 60% rise in the demand for AI learning experts, thanks to growing <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword>. </li><li>The course will include the basics of <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword> and training on database systems including SQL, No-SQL, Visualizing Data - Tableau, <keyword id="294572" type="TECHNOLOGY" weightage="20" keywordseo="machine-learning">Machine Learning</keyword>, Autonomous Vehicles and Image classification.</li></ul>Online learning platform Great Learning is now offering a senior-level learning programme ‘AI for Leaders’ in partnership with University of Texas, Austin. The three-month programme will focus on training leadership roles such as directors and CXOs. In the last two years, the demand for AI learning experts grew by 60%. The learning in this area itself is expected to grow into an $16 billion opportunity by 2025. “AI is expected to add significant growth and value to the world’s economy and it will impact their customers, employees, investors, operations and product/service offerings. Our current business environment mandates that mid and senior leaders be aware of the possibilities that AI has to offer,” said Hari Krishnan Nair, Co-founder, Great Learning. The course aims to fill the much-needed tech skills gap at the senior level. According to a recent survey by Great Learning, senior leaders lack <keyword id="7651297" type="UNKNOWN" weightage="20" keywordseo="AI-skills">AI skills</keyword> that companies need. The course will include the basics of artificial intelligence and training on database systems including SQL, No-SQL, Visualizing Data - Tableau, machine learning, autonomous vehicles and image classification. Another <a href="https://www.businesstoday.in/current/corporate/tech-startups-to-hire-over-40000-people-next-year-zomato-oyo-swiggy-chalk-out-plans/story/304338.html">survey </a>done by Analytics Vidhya and ed-tech platform Great Learnings revealed that India currently has 50,000 vacancies in data and analytics, with another 39,000 analytics jobs expected to become available by 2020. Skills that are needed to keep up with automation include “AI, machine learning, blockchain, cloud computing, data visualization, data engineering, IOT, data science and analytics, and extended reality (virtual reality and augmented reality),” said Bhajneet Dhingra, independent talent advisor for IT majors and startups. See also: <a href="https://www.businessinsider.in/careers/news/ai-skills-needed-to-get-best-jobs-in-the-industry-according-to-the-data-science-skills-study-2019/articleshow/71473858.cms">The hottest AI jobs will need you to know these programming languages and tools</a> <a href="https://www.businessinsider.in/python-r-machine-learning-sql-top-skills-to-become-a-data-scientist/articleshow/70738261.cms">Three data scientists reveal what it takes to transition from physics to a data science career</a> <a href="https://www.businessinsider.in/looking-for-a-job-heres-why-data-analytics-should-be-on-the-top-of-your-list/articleshow/67649196.cms">Here’s why it might be the best time to opt for a career in data analytics</a>

Great Learning is all set to groom CEOs and CFOs with AI skills

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/56d4ca376e97c61e048ba7d1-561/screen%20shot%202014-10-20%20at%201.49.14%20pm.png" alt="Sriram Krishnan" data-mce-source="YouTube/Screenshot">YouTube/ScreenshotSnap's Sriram Krishnan.</img></div></div></div>A key ad exec is leaving Snap less than a year after joining the company - and only a few weeks before the company's hotly anticipated IPO.&#xa0;Sriram Krishnan, who <a href="http://www.businessinsider.com/snapchat-hires-sriram-krishnan-from-facebook-to-head-up-monetization-2016-2" target="_blank">left Facebook</a> in February 2016 to help lead <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> efforts at Snapchat's parent company, is stepping down from his role at Snap. The news was first reported by <a href="http://www.recode.net/2017/2/19/14662264/snap-sriram-krishnan-exec-departure-ipo" target="_blank">Recode's Kurt Wagner</a>, but&#xa0;Krishnan later announced it via Twitter on Sunday.&#xa0;"After a great year at Snap, I've decided to leave and move back to SF to be closer to @aarthir, family and friends," Krishnan Tweeted,&#xa0;adding in another tweet that he's excited to be doing something <a href="https://twitter.com/sriramk/status/833358752862597120" target="_blank">"new and different"</a> but will be taking time off for now.&#xa0;At Facebook, Krishnan led one of the upcoming threats to Google's ad dominance: <a href="http://www.businessinsider.com/what-is-facebook-audience-network-and-why-does-it-matter-2016-2">Facebook Audience Network</a>. He was hired by Snap to help&#xa0;boost the company's monetization efforts.&#xa0;It's unclear why Krishnan is leaving Snap, but the travel between his home in San Francisco and Snap's headquarters in Venice Beach may have been taking a toll, Recode reports.&#xa0;His&#xa0;departure isn't ideal for Snap, which is less than a month away from its initial public offering on March 2. Snap is seeking an IPO valuation of <a href="http://www.businessinsider.com/snap-is-pricing-its-ipo-at-14-to-16-per-share-2017-2" target="_blank">up to $22 billion</a>.&#xa0;<div><blockquote class="twitter-tweet" lang="en">After a great year at Snap, I've decided to leave and move back to SF to be closer to <a href="https://twitter.com/aarthir">@aarthir</a>, family and friends.- Sriram Krishnan (@sriramk) <a href="https://twitter.com/mims/statuses/833358567684132866">February 19, 2017</a></blockquote><script async="" src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/ronald-wayne-third-founder-apple-computer-2017-2">Meet the forgotten co-founder of Apple who once owned 10% of the company</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xoaW1pOTE6QVvhtqpkokCxELZ1eIiDws" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'xoaW1pOTE6QVvhtqpkokCxELZ1eIiDws',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

Snap just lost a key ad exec weeks before its IPO

Mumbai, Dec 24 () India doubled its artificial intelligence (AI) workforce in 2019 following advancement in technology and adoption of business intelligence, yet there are a large number of vacancies across sectors due to talent gap, according to a study.
 The number of AI professionals in India grew to 72,000 in 2019 from 40,000 last year as the number of companies working on AI projects tripled to 3,000 this year from 1,000 in 2018, according to a study on Indian AI industry by ed-tech company Great Learning.
 Large scale adoption of business intelligence, rising AI-based optimisation of enterprise processes, improved data management across organisations and bigger budgetary allocations from the government aided this growth, it added. 
 However, the study found that close to 2,500 positions related to AI continued to remain vacant this year due to lack of talent despite the growth in number of AI professionals. 
 The study is based on a survey among Indian professionals in AI and Machine Learning industry with varying years of experience, ranging from freshers to mid and senior level executives, across sectors.
 According to the study, Indian AI industry's revenue doubled in size to USD 415 million (about Rs 2,950 crore) in 2019 from USD 230 million (about Rs 1,600 crore) in 2018.
 It also revealed that the average work experience of AI professionals in India is 7.2 years, while 29 per cent of AI professionals have more than 10 years of work experience, it said. 
 Further, the number of freshers joining the field has also grown to 6,000 from 3,700 last year, an increase of over 60 per cent, it added.
 "We expect this momentum to continue. Also, the fact that the number of vacancies in AI has again trumped the number of available professionals despite the industry doubling its talent pool shows the huge employment potential that the sector holds for those willing to upskill," Great Learning co-founder Hari Krishnan Nair said.
 "We expect to see a large number of experienced professionals transitioning to careers in AI in 2020 as well," he added.
 Bengaluru emerged as the most popular destination for AI professionals, having created over 23,000 jobs as against 13,000 last year, the study said. 
 It was followed by Delhi (17,000), Mumbai (9,000), Hyderabad (8,000), Pune (7,200) and Chennai (5,800), it added. 
 As far as remuneration is concerned, the median salary package for AI professionals is Rs 14.7 lakh across all experience level and skill sets, it said. 
 AI professionals in Mumbai get the highest salary package at almost Rs 17 lakh per annum, followed by Delhi-NCR at Rs 15.6 lakh, it said, adding that AI professionals in Chennai get the lowest remuneration at Rs 10.8 lakh.
 Almost 39 per cent of AI professionals in India are employed with large-sized companies, 29 per cent with mid-sized organisations and 32 per cent with start-ups, it said, adding that women participation continues to remain low. SM
 RVK

India doubles AI workforce in 2019, yet large vacancies remain: Report

<ul class="summary-list"><li><keyword id="1573581" type="PERSON" weightage="60" keywordseo="Wirecard">Wirecard</keyword>'s UK arm was allowed to resume regulated activity on June 30 following a four-day suspension, despite its parent company filing for administration.</li><li>The suspension blocked several customers of <keyword id="2461546" type="PERSON" weightage="60" keywordseo="FinTech">fintech</keyword> apps using Wirecard technology from their accounts.</li><li>Incoming payments bounced during the suspension. Some account holders told Business Insider they are still waiting for their money.</li></ul>UK account holders with brands that use Wirecard's payment services are still waiting for cash that bounced from their accounts when the German fintech firm <a href="https://markets.businessinsider.com/news/stocks/wirecard-files-insolvency-missing-billions-ex-ceo-arrest-2020-6-1029340987?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest#=ingest#">filed for insolvency</a>. This is despite the fact that Wirecard's UK arm resumed regulated activity more than a week ago. The UK's Financial Conduct Authority (FCA) suspended Newcastle-based Wirecard Card Solutions' (WDCS) activities on June 26, after the firm's German parent Wirecard AG <a href="https://markets.businessinsider.com/news/stocks/wirecard-timeline-what-you-need-to-know-2bn-fintech-scandal-2020-6-1029337346?utm_source=markets&amp;utm_medium=ingest#est#">disclosed a €1.9bn (£1.7bn) hole in its accounts</a> and filed for insolvency. Four days later, the suspension was lifted, but not before it had hit users of financial apps that use Wirecard technology. Unlike mainstream brands such as Halifax or HSBC, many digital, neo or app-based banking services and fintech companies don't always handle payments or provide debit cards themselves. Instead, they outsource payment services and card provision to regulated third parties such as WDCS.Read more... <a href="https://markets.businessinsider.com/news/stocks/wirecard-ex-ceo-markus-braun-arrested-2020-6-1029332580?utm_source=markets&amp;utm_medium=ingestgest">Former Wirecard CEO Markus Braun has been arrested in Germany, days after the company reported that $2.2 billion was missing</a>Once WDCS was suspended by the FCA, users could not use their accounts or access money in them. Payments into the accounts bounced back to their senders — and some users are still waiting to receive their money, a week after WDCS resumed activity. Apps that use WDCS, such as <keyword id="4047322" type="PERSON" weightage="60" keywordseo="Curve">Curve</keyword> and <keyword id="9547095" type="UNKNOWN" weightage="60" keywordseo="pockit">Pockit</keyword>, have hundreds of thousands of customers in the UK, and at the time of the suspension the FCA said WDCS partners would be unable to operate normally. Since restrictions were lifted, fintech firms have tried to keep customers informed through blogs and in-app messages, but users have flooded social media with complaints of missing money.<h3>"I have no assurance of when I will get my money back"</h3>Curve was one brand affected by the suspensionIt calls itself the Netflix of banking: It lets users monitor, manage, and spend money from several accounts on one card. They get cashback on spending, known as Curve Cash.Curve used Wirecard to process its transactions, and the suspension stalled refunds paid into people's accounts from retailers.Adam Plant, 31, an IT project manager from Staffordshire, is awaiting £170 in refunds."These have been processed on the retailers' end but nothing has reached the Curve card or ultimately my main bank account," he said."Curve has not offered any assurance that these funds will actually make it back to me … It isn't making a major dent in my finances but it is a decent amount and it's the annoyance of not knowing what's happening or what their plans are to make sure I get this back," he said.<div type="image" title="Curve Shachar 6" height="899" width="1600" msid="76879408" hostid="261"></div>Plant said he had trouble with refunds on Curve in the past, and that he's now been put off the app for good.Curve said in a statement that it is in touch with customers awaiting refunds.It has moved to Checkout.com for its payment services, and will supply its own card through MasterCard.However, Curve said the temporary Wirecard suspension, and its subsequent move to Checkout.com, has delayed refunds that were requested or due to be repaid by retailers before 2pm on June 27. These are now in the process of being paid, it added.<h3>"I had to pawn my phone to access cash"</h3>The Wirecard's suspension also hit customers of Pockit, a digital current account designed for those with low incomes or poor credit ratings.Ashleigh, 28, who spoke on the condition her surname was not revealed, had a £300 benefit payment from the department for work and pensions (DWP) due during the suspension. It has not yet arrived.She had to take a £370 loan from a pawnshop, secured against her phone, to fund get by, she said."My DWP payments have resumed but all money that bounced due to Wirecard is missing," she said."I'm lucky that I've been able to open a NatWest account and make plans for future payments to go in but there are people who can't due to poor credit or a lack of ID."There are vulnerable people who get paid once a month who don't know how long they have to wait."Read more... <a href="https://www.businessinsider.com/wirecard-scandal-impact-payments-space-regulation-fintech-investors-competition-2020-7">Fintech investors see more red tape for the booming payments space following the Wirecard scandal, and say that costs to comply could crimp newcomers' growth (PREMIUM)</a> Pockit told Business Insider that all its accounts are functional."The Pockit team understands completely the urgency and distress that the situation at Wirecard has provoked for our customers," it said in a statement."We were not given any advanced warning by the FCA of the measures it decided to take and have worked closely with the DWP and the FCA to find a swift solution for our customers."We are taking decisive steps to ensure our customers have better access to reliable financial services in the coming weeks, including an orderly transition to a different UK-based payments provider."Wirecard AG declined to comment but highlighted statements from its insolvency administrator and the FCA, which said the UK subsidiary was able to continue operating.A statement on the WDCS website apologized for delays on its card programmes. <h3>Will this dent confidence in financial apps?</h3>Fintech brands have flourished during lockdown.In a <a href="https://www.capgemini.com/gb-en/wp-content/uploads/sites/3/2020/04/COVID-19-and-the-financial-services-consumer_V4-1.pdf">survey by analysts Capgemini </a>of more than 1,000 consumers in April, 45% of people said they would use digital payments more during lockdown, and 82% said they were unlikely to visit bank branches.Sankar Krishnan, head of growth and industry head within the banking and capital business at Capgemini, doubted the Wirecard collapse, and the knock-on impact on the firm's UK subsidiary, would damage confidence in financial apps."I do not see there being any decline in digital banks," Krishnan said, adding that more and more people continue to switch "to digital from 'trusted' digital providers including traditional banks."Carl Uminski, co-founder of digital agency Somo, says some people will feel more wary of digital payments. But he added that system outages can also hit traditional banks.— <a href="https://www.bbc.co.uk/news/business-50471919">TSB</a>'s technology collapsed in 2018 and users couldn't access their accounts, for example."This isn't a sign of a turbulent industry or a reason to not trust neobanks and simply go back to a traditional brand," he said.Jon Ostler, chief executive at personal <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> comparison site, Finder.com, said the Wirecard incident alone is unlikely to change the behaviour of most consumers so long as fintech firms are transparent. Users may, however, want more detail on how their apps operate. "It will certainly have been a wakeup call though and might lead to consumers taking a more detailed look at how these apps work," he said.

When regulators suspended Wirecard's UK arm, payments to its fintech partner accounts bounced. The suspension has lifted — but for some, the money is still missing.

Krishnan <keyword id="6356252" type="PERSON" weightage="20" keywordseo="Ganesh">Ganesh</keyword>, has played a lot of roles in his life; from an engineer, to an entrepreneur, to now a venture builder, and his life has been nothing short of an trial. While his shoes have been too big to fill and as they keep changing, he is currently pioneering a unique model with Growth Story in India, which is probably only made popular by Rocket Internet in the country. GrowthStory is the venture-builder platform that Ganesh and his wife, Meena set up in 2011 which has promoted some of India's most disruptive start-ups including Portea Medical, Big Basket, Fresh Menu, Home Lane, AcadGild, HouseJoy, Social Frontier and many more. 

 

 

 

 

 

 

 

 

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This model is unique due to the fact that while Ganesh and Meena come up with entrepreneurial ideas, they hire executives to pull it off. It is not primarily "investment" only, but where GrowthStory is the "promoter," but where the Partners are often the originators of the idea, work to get a founding team in place, drive fund raising early in the game, work closely with founders to scale the venture, guide strategic direction et al. This ‘express’ entrepreneurship that the power couple pull through is extraordinary and the back- story to it is a roller coaster that, you can’t forget. Early life and career Ganesh’s father died in an accident when he was just nine years old and as the eldest of three siblings, he felt the need to set an example. His mother was a hard-working government servant and bought them up to the best of her capabilities.

 

 

 

 

 

 

 

 

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So Krishnan, became a mechanical engineer passed out from Delhi College of Engineering, and even got a post graduate degree from IIM before realizing that he didn’t want to be an engineer or just an MBA graduate. Ganesh credits his entrepreneurial trials to <keyword id="44903" type="PERSON" weightage="20" keywordseo="Shiv-Nadar">Shiv Nadar</keyword>, under whose guidance he experienced different business function, “I worked for five years in various functions and also as executive assistant to Shiv Nadar. My first venture started in 1990, a company called IT&amp;T where me and my friends pooled in money to get it started,” he told Business Insider. He ran the company till 1998 and remained the largest shareholder and director of the company till 2003 when it was sold to iGate. He went back to the corporate life but after two-years stint went back to entrepreneurship with his second business venture called CustomerAsset with Meena and another partner. It was later acquired by ICICI Bank in 2002 and Ganesh made $ 20 million for his stake in the company.

 

 

 

 

 

 

 

 

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In 2003 he stumbled upon an innovative new company called Marketics which was started by IIT and IIM graduates. Ganesh was approached for investment, mentoring and guidance. This company was also sold off to WNS, for $65 million where only half a million dollars were invested in this business without venture capital funding. Then Ganesh again started his own business with TutorVista in 2006 which was bought out completely by Pearson for Rs. 1000 crore. His multiple hits have led him to be where he is, but that isn’t without the missus by his side. When the the last acquisition happened, Ganesh and Meena decided to take the hard road and continue their entrepreneurship journey albeit this time, differently. "Only 5 per cent of start ups succeed and Ninety-five per cent end up failing. I see still young entrepreneurs after starting a company against all the odds. I'm addicted to fueling that until I can," says Krishnan when asked about why his family still makes risky businesses instead of just ‘settling down’. 

 

 

 

 

 

 

 

 

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The Perfect Pairing When it comes to Meena and Krishnan Ganesh, their complementary skill sets have given fuel to the train that is Growth Story. Professionally, Meena is more lauded as the CEO of <keyword id="6398216" type="COMPANY" weightage="20" keywordseo="Tesco">Tesco</keyword>,No.2 at <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and now CEO at Portea, but Ganesh is the visonary that knows they can achieve so much together. As co-founders and life partners, they know that team work is the key to making a venture start and keep it running.

Exclusive: K. Ganesh Made BigBasket and Portea Medical Blockbusters in India, and This is his Unique Life-story

<img class="gwt-Image" src="/photo/46297924.cms" /> India’s leading <keyword id="385265" type="UNKNOWN" weightage="80" keywordseo="IT-service">IT service</keyword> firm <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS) has announced its partnership with <keyword id="2733520" type="UNKNOWN" weightage="80" keywordseo="Europes-leading-accelerator">Europe’s leading accelerator</keyword> <keyword id="2733518" type="UNKNOWN" weightage="80" keywordseo="Startupbootcamp-FinTech">Startupbootcamp FinTech</keyword> to host the Pitch Days in India. 
 
The Pitch days will be held at the TCS campuses in Mumbai and Bengaluru on February 24 and February 26, respectively. As a part of Co-Innovation Network (COIN), TCS has been working with start-ups across the world. The one-day event is open to innovative early stage start-ups in the financial technology sector. Ten startups will be chosen and shortlisted for their cutting-edge and innovative solutions. These firms will be offered an opportunity to participate in the 13-week long <keyword id="2733519" type="UNKNOWN" weightage="80" keywordseo="Startupbootcamp">Startupbootcamp</keyword> FinTech accelerator program in London or Singapore, as per a statement issued by the IT firm. 
 
Markus Gnirck, co-founder &amp; Global COO of Startupbootcamp FinTech, said: “Being a part of our Pitch Days means that startups are on the Startupbootcamp FinTech watch-list for life, giving them a greater chance of being selected for one of our global programs.” 
 
The shortlisted FinTech startups on the Pitch Day will also get an opportunity to connect with local mentors, investors and banking professionals in the community. With the help of feedback given by the experts of the industry, the participants can improve their offering, business model and pitching skills. 
 
K Ananth Krishnan, chief technology officer of TCS, said, “India has a rich history of promising start-ups and we believe that programs like this will benefit the thriving technology start-up community in India and help to showcase the country’s tremendous enterprise to the global investing community.” 
 
“We encourage startups, at whatever stage in their early development, to apply to join us for the unprecedented opportunity to connect with the Startupbootcamp FinTech global community and have access to worldwide opportunities. The work that we’re doing with partners like Tata Consultancy Services validates the need for accelerator programs to reach countries like India,” added Gnirck. 
(Image: TCS)

TCS ties up with Startupbootcamp to encourage startups

<img class="gwt-Image" src="/photo/50973615.cms" style="width: 800px; height: 600px;" /> 
 At IIT-Madras, <keyword id="725309" type="UNKNOWN" weightage="100" keywordseo="sabbatical">sabbatical</keyword> from academics no more just means taking a one-year time off to go to another university or a research organisation. 
 When Professor <keyword id="3244191" type="PERSON" weightage="100" keywordseo="Balaji-Srinivasan">Balaji Srinivasan</keyword>, faculty at IIT-Madras as well as co-founder and director of Chennai-based startup Unilumen Photonics, attended a tradeshow in 2014, he found new markets opening up. 
 
The new found demand for the technology he was developing was so high that Srinivasan felt the need to accelerate work and push things forward. 
 
Initially he tried to take some hours off every day from teaching and focus on his startup, only to find it was not making much progress. 
 
"My day would be really torn between different things such as coming to class, teaching students, attending meetings, doing research and meeting my students, and in between I would have to find time to go to the company to take care of some emergencies there," he recollects. 
 
Finally to sort out things he went for a sabbatical at the end of which he was successfully able to make a couple of products work. 
 <keyword id="6356755" type="COMPANY" weightage="100" keywordseo="IIT-Madras">IIT Madras</keyword>, the premier engineering institute which has a thriving startup ecosystem has enabled its faculty members, through policy level changes, to take up sabbatical also to focus on their individual <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword>. 
 
"Typically, an academical sabbatical means a faculty would either go to another university or a research organisation or even an industry in some cases and they will spend time there up to a year or so," noted Prof Krishnan Balasubramanian, Dean of IC&amp;SR department, IIT-M. 
 
"What we are offering is also an opportunity to do more. If you are involved in a startup from the beginning and want to focus more on it, then sabbatical is a way to do it." 
 
According to him the need to avail a sabbatical could be sector-specific as well as company-specific. 
 
"If you are in a startup sector which needs very high rate of growth or if you are in a company that needs your time very significantly then your participation has to be wholesome and you may want to take time-off and spend time there," he said. 
 
Image credit: Indiatimes

Guess what? IIT-Madras is allowing professors to take sabbaticals to focus on their startups

<img class="gwt-Image" src="/photo/48745875.cms" style="width: 800px; height: 600px;" /> At one of the largest hospitals in Delhi, a patient was suspected to have <keyword id="525231" type="UNKNOWN" weightage="100" keywordseo="septicemia">Septicemia</keyword> infection; however the detection needed to be confirmed. The doctor contacted <keyword id="3029563" type="UNKNOWN" weightage="100" keywordseo="iGenetic-Diagnostics">iGenetic Diagnostics</keyword>, the newly launched diagnostics lab focused on high-end tests. iGenetic was able to complete the detection in 24 hours. What is unique about iGenetic’s offering is that they have managed to reduce the detection time of this extremely fatal disease (Septicemia is an extremely fatal disease, where there is a pathogen in the blood, that needs immediate diagnosis and treatment) from 3 days to 24 hours. In addition to a rapid detection, iGenetic is also able to identify the causant pathogen so that the correct line of treatment can be initiated immediately. 
 “Previously sample testing would either take significantly longer or the pathogen would go undetected due to lack of testing methods. Now with our in-house designed tests we can detect the pathogen much faster. Our test has got extremely high specificity and sensitivity as we have a deep understanding of <keyword id="117841" type="ORGANIZATION" weightage="100" keywordseo="molecular-biology">molecular biology</keyword> ” said Dr. Archana Krishnan, a lead scientist and Co-Founder at iGenetic. 
 
With a team of 10-12 scientists and three years of research, iGenetic Diagnostics launched this unique test and thus significantly increased the survival rate for patients having Sepsis. They are also one of the two labs in the country with the capability to detect Septicemia. 
 
“It is difficult to give definite amount of money invested for this test as we have made significant investments, both from a financial as well as intellectual perspective in order to build our unique menu of diagnostic tests. Hypothetically, if we start from scratch today, it would cost around Rs. 4-5 crores said Siddharth Patodia, co-founder of iGenetic. 
 
The main purpose of iGenetic is to bring high-end tests at affordable prices for the Indian population to tier II and tier III towns where there are good consultants but dearth of good diagnosis. They have launched tests which are available at lower prices than its global competitors (mainly European and American companies). 
 
“For example, the tests available for Pre-implantation-Genetic Screening (PGS) from international players costs around Rs. 1 lakh per sample. Our test of the same quality costs around Rs. 60,000” said Arunima Patel, co-founder of iGenetic. 
 i<keyword id="49685" type="UNKNOWN" weightage="100" keywordseo="Genetic">Genetic</keyword> is also on the way to validate another breakthrough technology - Non-Invasive Pre-natal testing (NIPT) for screening of downs’ syndrome and other serious genetic disorders in the early weeks of pregnancy. The current method (Amniocentesis) is risky as it can potentially lead to injury to the foetus; NIPT is completely safe for the mother and baby as it is done on the mother’s blood. NIPT is currently available only in the US and Hong Kong; iGenetic is in the process of launching it now in India as one of the first players in the market. 
 
“The test is currently under validation. We have already validated several samples and after regulatory approvals, we will launch it in the Indian market in the next few months,” she said. 
 
Archana said they are targeting 50 samples of which they are already half way through. 
 
This is only the beginning of the journey. They are looking to design one of the most advanced forms of molecular biology in India, Micro-arrays. 
 
“This is relevant especially for African markets, where there is a lot of demand and currently the solution is constrained due to logistics.. If we can provide the answers quickly through a chip base solution such as micro-arrays, then we can target those markets effectively,” she said. 
 In the field of <keyword id="6355291" type="ORGANIZATION" weightage="100" keywordseo="Cancer">cancer</keyword> detection, iGenetic has launched Next Generation Sequencing (NGS). NGS is the latest technology globally and facilitates personalised medicine. This means that for each individual patient, the treatment can be tailor made so as to have the highest efficacy. This is also known as personalised medicine. In the US and Europe, personalised medicine for cancer treatment is now becoming standard. iGenetic is making the same tests available for the Indian population. 
 
Investment plan 
 
With an investment of over US$10 million this fiscal year, they plan to add 2-3 cities each month to their locations of operations. 
 
In the last six months, they have launched their operations in 10 cities. 
 
“We plan to add 2-3 cities every month. Next month we are going to add Kolkata, Pune and Bangalore. We will open up three more locations in Maharashtra and Gujarat. We will shortly start our operations in international markets including the Middle East and SAARC countries as well. We are also looking to license some of our unique offerings to the markets in the Western countries,” said Arunima. 
 
What gives them an edge over their foreign competitors in the Indian market is that they can customise their tests to be targeted and affordable. 
 
Challenges 
 
In the western markets, high end tests constitute about 40 per cent of the total pathology market. In India, it is limited to only 10-15 per cent. Cost and availability of these tests in India are the key constraint. 
 
“The diagnostics space industry is completely unregulated. What it has led to is lots and lots of unregulated players. Anybody can open a lab. It becomes a challenge for a patient to determine the quality of the test results. Some regulation in this space to maintain quality standards would be a welcome step,” said Siddharth. 
 
The next big challenge is awareness. Though these tests are highly accurate and faster, awareness of genetic tests still remains limited. 
 
And yes, affordability comes next. The high-priced tests cannot be afforded by all. With more indigenous R&amp;D the tests can be made affordable. 
 
The third difficulty faced by the players in the diagnostics space is the poor logistics system of our country. 
 
“It should be improved so that we receive samples from places like Vizag on time and in intact condition,” said Arunima. 
 
iGenetic Diagnostics is a young and fast growing Company in the high-end diagnostics space with a focus on genetic testing. The company is positioned to solve difficult to diagnose cases especially in the field of Cancer, critical care and IVF. We are a research oriented company which has developed several tests in-house. 
 
They have successfully launched several unique tests, saving lives across Delhi, Maharashtra, Gujarat, Andhra Pradesh, Bihar. 
 
(Image credits: 1zoom.net)

This diagnostics lab in India has come up with a unique test
to treat Septicemia

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/54c91251eab8eaa02d9f539c-985-738/vikram-ashok-and-jason-gordon.jpg" alt="Vikram Ashok and Jason Gordon" border="0">SpareHireSpareHire CTO Jason Gordon (left) and Co-Founder Vikram Ashok (right).</img></div></div></div>When Vikram Ashok quit his private equity job at Paris-based Quilvest in late 2011, he had no plans to start freelance consulting. Ready for a change, he'd moved to Florida to golf.
But consulting found Ashok when a former portfolio company reached out for help with a short-term budgeting project. It went well, and he started freelancing regularly - which helped finance his golf pursuits for a year, and kept his professional skills sharp.
Then, inspired by his own experiences, Ashok and his lifelong friend Ashwin Krishnan, who also worked in PE, founded <a href="https://www.sparehire.com/site/index">SpareHire</a>, an online marketplace for freelance finance and consulting work.
"We said, 'Look, there's got to be a bigger opportunity here. There's a lot of people who have the same skill set that I do, who've left Wall Street or left consulting firms, and there's a lot of companies… out there who need flexible work,'" Ashok told Business Insider.
But unlike other online jobs networks, SpareHire isn't open to just anyone. Clients and applicants are both carefully vetted before they're admitted to the network. It's a niche service for "a specific type of professional" - i.e. highly-trained finance pros with narrow sets of expertise.
<h3>Not 'Kijiji For Finance'</h3>
Since launching in October 2013, SpareHire has grown a network of 1,300 professionals, made up of ex-consultants, ex-bankers, ex-private equity buffs, and marketing professionals.
Many of them are stay-at-home-parents; others are ex-industry folks trying to bootstrap their own startups and looking for some income. Almost all of them have experience at large, top-tier firms where thorough training is a guarantee.
"When you work at a place like a Bain or a McKinsey, you just develop a very strong core skill set," Ashok said.
But just having that experience isn't enough: once admitted to the network, professionals face stiff competition for projects, which often require a specific type of background and expertise.
<div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/54c7f515eab8ea5e181b228e-584-613/screen shot 2015-01-27 at 3.24.45 pm.png" alt="SpareHire sample" border="0"><a href="https://www.sparehire.com/site/successStories">SpareHire</a>Here's a sample SpareHire project.</img></div></div></div>"A typical project might be a private equity firm who's looking at a deal in the consumer space," Ashok said. "If you don't have consumer experience, you're not likely to get that project - even if you worked at a top firm."
SpareHire's clients include small corporations, private equity firms, investment banks, and startups.
Company information is usually kept private until matches are secured, but a few regular clients who agreed to publicize their names include Fisker Automotive, an electric car manufacturer hoping to compete with Tesla, and investment firms CampOne Ventures, Striker Partners, and Adlevo Capital.
Typical projects are matched at around $100/hour and range in length from several weeks to six months. SpareHire takes 25 percent off the top.
So far, business is growing. Some of their freelancers have even been hired on full-time by clients.
"What we say is, if the platform is really easy to use, and really valuable for both sides, then people will use it," Ashok said.

A New Startup Is Helping Companies Borrow Wall Street Talent

MUMBAI: Flush with funds and hungry for growth, a bunch of startups is gearing up to stake claim on talent at India’s top campuses. 
 
As placements unfold over the next few months at the IITs, IIMs and other institutes, these startups look on track to give traditional heavyweights a run for their money in the battle for talent. 
 
Ten startups that ET spoke to are collectively looking to hire more than 850 graduates across leading business schools, engineering colleges and graduate schools this fiscal. 
 From established names such as <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, TaxiForSure and <keyword id="1006428" type="COMPANY" weightage="20" keywordseo="Olacabs">Olacabs</keyword> to campus newbies like Vizury and <keyword id="2463175" type="UNKNOWN" weightage="20" keywordseo="CodeNation">CodeNation</keyword>, almost all are hiring in greater numbers than before, armed with attractive pay packages and the promise of greater responsibilities and faster growth for potential hires. 
 
Barely six months after being registered as a company, enterprise software developer CodeNation is already one of the most coveted recruiters at engineering campuses such as National Institutes of Technology (NITs), offering salaries of Rs 24 lakh. One of the last to go to the campuses last season, it hired 12 engineering graduates in March 2014. 
 
This time, it plans to net the best early on from the IITs, NITs, IIITs (Indian Institutes of Information Technology), DTU (Delhi Technological University) and PESIT (PES Institute of Technology). "We went to campuses very late (last time), but do not want to do the same this time. We plan to hire 50 students from the best colleges," said Anuja Sivaram, head of operations at CodeNation. 
 Another relatively new name is Bangalore-based big data analytics startup Vizury. Last year, it went to two <keyword id="2470783" type="UNKNOWN" weightage="20" keywordseo="BITS-Pilani-University">BITS Pilani University</keyword> campuses with seven offers. The startup, which in June saw a third round of <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> totaling $16 million from new and existing investors, is planning to recruit more this year. "We plan to hire 25-30 engineers from IITs, BITS Pilani University, NITs and IIIT campuses for our product engineering team. Students will be working on cuttingedge analytics and advertising technology platforms," said Subra Krishnan, vice-president in charge of products. 
 
Taxi-service startup Olacabs, fresh after raising Rs 250 crore last month, is on an expansion mode. 
 
To drive its growth plans, the company is in the market for 100 new hires from IITs and IIMs, compared with 40 it recruited last year, said co-founder and Chief Executive Bhavish Aggarwal. 
 
Rival TaxiForSure, on its part, is heading to engineering campuses for the first time this year. Until now the company hired engineers laterally. "We will head to IIT-Madras and IIT-Bombay for the first time. Now we have five engineering managers who can train the new recruits and therefore there is sufficient leadership to hire from engineering campuses," said human resources head TN Hari. 
 While it hasn’t decided on the number of engineering students to be recruited, the startup will hire 25 from IIMs in Bangalore, <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>, Ahmedabad and Lucknow as well as the <keyword id="6357275" type="ORGANIZATION" weightage="20" keywordseo="Indian-School-of-Business">Indian School of Business</keyword>. 
 Online retailer Flipkart, last year’s biggest <keyword id="41007" type="POSITION" weightage="20" keywordseo="recruiter">recruiter</keyword> in the startup space, declined to share numbers for this year but is expected to at least match last year’s hiring tally. 
The Bangalore-based company, which made an entry into the ET Top Recruiters at B-schools survey for the first time this year, hired more than 275 students from across campuses, including 90 management trainees, 115 graduate trainees and 70 software development engineers last season. 
 
<div style="page-break-after: always;">
	&#xa0;</div>
 
<img class="gwt-Image" src="/photo/40166652.cms" style="margin: 4px; float: left;" />What helps these startups attract talent other than strong hiring numbers is a vibrant work environment, and salaries that are as competitive as many established organisations. TaxiForSure, for instance, will be offering packages ofRs 8-10 lakh at IITs. At IIMs, salaries will range between Rs 12 lakh and Rs 25 lakh, compared with Rs 12-18 lakh last year. 
 Mobile marketing and communications startup <keyword id="416397" type="UNKNOWN" weightage="20" keywordseo="ZipDial">ZipDial</keyword>, which intends to hire around 20 students this year, says while its fixed salaries may be slightly lower than market rates, top performers stand to make much more in terms of variable bonuses and employee equity grants. LimeRoad.com, which operates an online shopping platform for women, will offer employee stock option programmes. 
 Restaurant-guide startup <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is offering around Rs 15 lakh a year while property listings portal <keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword> will be shelling out anywhere between Rs 12 lakh and Rs 18 lakh. 
 Mumbai-based Housing.com, which raised Rs 115 crore in a new round of funding in June, was in fact, a <keyword id="2470782" type="UNKNOWN" weightage="20" keywordseo="first-day-recruiter">first-day recruiter</keyword> at <keyword id="2470784" type="UNKNOWN" weightage="20" keywordseo="IITKharagpur">IITKharagpur</keyword> placement rounds last December, sharing space with the likes of <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> and <keyword id="43340" type="CITY" weightage="20" keywordseo="Oracle">Oracle</keyword>. 
 
This year, as well, several startups are likely to be among the first and second day recruiters at prestigious campuses, a privilege usually reserved for big-ticket recruiters. 
 
"The culture of entrepreneurship that startups provide, the growth opportunities and the challenging work environment are all very attractive to a number of students," said Punj Rajan, a student placement committee member at IIT-Kharagpur. "They actually want several startups to be among the companies slotted in the first few days of placements." Rajan had interned with Jabong.com during summer. Even B-schools are ready to make extra efforts to attract more startups. 
 
IIM-Bangalore last year organised a separate day for startups to come and hire from the executive MBA batch. "Startups often offer senior positions and if they need more time and rounds, we are ready to stretch for them. In the near future, we may have separate startup fairs for our flagship PGP batch too," said Sapna Agarwal, head of career development services at IIM-Bangalore. 
 
Not surprisingly, Advitiya Sharma, co-founder of Housing.com, says he has been flooded by invitations from top colleges. His plans are not firmed up as yet, but he intends to hire around 25 people from IITs and a similar number from IIMs across software, analytics, operations and tech roles. 
 
Another startup, Wooqer, has already made three pre-placement offers at Malaviya National Institute of Technology, Jaipur. It plans to hire 25 students across IITs and a couple of NITs, and intends to reach out to IIM-Indore, IIM-Bangalore, SP Jain Institute of Management &amp; Research and NMIMS soon. 
 
Salaries will range from Rs 13 lakh toRs 17 lakh. Other institutes including graduate and design schools are also being targeted by these startups. 
 
Upasana Nath, chief recruitment officer at Zomato, said besides the 40 students it will be hiring from engineering colleges like the IITs and senior leadership profiles from IIMs and ISB, it will be taking on board 200 for front line sales and content operations from graduate colleges in Delhi, Mumbai and Bangalore. Suchi Mukherjee, CEO &amp; co-founder of LimeRoad.com, said the startup intends to get 30-50 people from campuses alone. IITs in Delhi, Kanpur, Mumbai and Chennai will be the focus for technology and IIMs in Ahmedabad, Bangalore and Kolkata for product managers, marketing and category managers.

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