JAIN (Deemed-to-be University) has announced the launch of JAIN Online to offer Undergraduate and Postgraduate Online Degree Programs, in Commerce, Management, Information Technology, and Humanities recognized by the University Grants Commission (UGC). JAIN (Deemed-to-be University) is a world-class institution promoted by JAIN Group, with over 30 years of excellence in Education, Research, and Entrepreneurship.
The Chancellor of JAIN (Deemed-to-be University) Dr. Chenraj Roychand stated,
“The changing landscape of education [has been] globally shaped by disruptions due to the pandemic and technological advancements has caused challenges as well as opportunities for the education sector. When Universities, as we have known them, are being forced to change, online education brings a paradigm change that not only helps in reaching the unreached, but also helps in differentiated program offerings in line with market demands. With JAIN Online, we are extending our commitment to provide high-quality and globally benchmarked education to the masses. The programs are designed in a way that also fulfills the needs of international students. With an industry-driven curriculum and cutting-edge technology, JAIN Online is set to reshape the careers of millions of students, making them global leaders and change-makers of tomorrow.”
The efficient and robust Learning Management System (LMS) of the University provides a high degree of convenience and flexibility to the learners who can access videos, self-learning materials, virtual labs, assignments, quizzes, discussion forums, and live classes over the weekends from top-notch faculty members are drawn from across the globe. Personalized support is offered to the students to clarify their queries from a dedicated program manager. The learning hours and credits of the online degree programs are at par with the regular programs of the University.
With technology playing a major role in its teaching-learning methodology, the University is all set to deliver an exceptionally engaging and enriching learning experience for its students through its Learning Management System. The learners will additionally get access to live classes on 25 key skills for success and more than 16,000 courses on LinkedIn Learning, where they can learn as per their interests and get certified by LinkedIn and various industry partners like SHRM, Amazon, Google, Microsoft, EC Council, IIBA, etc. The University also extends its Career Advancement Services to its students on JAIN Online to facilitate job placements with over 2000 hiring partners.
With this, JAIN (Deemed-to-be University) has become the first University in India to launch online degrees with prestigious Global Professional Bodies like ACCA – UK, CIMA – UK, CIM – UK, CIIS – UK, IOA – UK, CMA – US, and CPA – USA. The students would also be eligible for exemption of papers or get relevant professional memberships from these professional bodies on successful completion of the Online Degree Programs.
To know more about the programs, please visit this website.
By Hannah DiPilato
360 Magazine recently had the opportunity to sit down with Marco Shalma, founder of Round Seven Media and MASC Hospitality Group. He is responsible for beginning a food and culture festival in New York called The Bronx Night Market. In this interview, he talks about everything from advice for young entrepreneurs to his favorite food spots in New York.
How did you begin Round Seven Media and why did you decide to start this?
I started in 2013, which was after my education at NYU for undergrad and pursuing a master’s degree in film and tv. Marketing was my passion, and I wanted to run a campaign in a different way. I wanted to use the concept of getting people into the mix of the story and I wanted to get that into a narrative for clients in marketing. In 2013, I sold my shares in restaurant groups and I wanted to begin marketing for myself. I went around and started looking for clients in restaurant and hospitality for about 20 years, which I had experience in. With the explosion of Instagram and technology, it was the perfect time to explore marketing opportunities.
When the company started, the first thing was to go find professional people with a school of thought from film and writing. Our business is known for being a launch campaign for ideas, projects, etc. and we will build an online presence for our clients by finding the key demographic. We are focused on the launch period so our work doesn’t really go further than the six month period.
You also founded MASC Hospitality Group, what made you start another business as well?
MASC Hospitality is one of those situations that happened backward, meaning we first took on the Bronx Night Market project in 2017, which then branched out to many other events that were affiliated with the Bronx Night Market. At one point, we needed to incorporate all of these events, so we decided to create MASC Hospitality Group. If you think about it, MASC Hospitality is a company that basically creates different events while Round Seven Media is the one promoting these events. Sometime around 2018, I started taking fewer clients for Round Seven Media and started adding more of my own companies to Round Seven Media.
What is your favorite event that MASC Hospitality Group is responsible for?
My favorite event hands down is Bronx Night Market. The Bronx Night Market is my baby, it’s a proud moment for me because it came from a vision of bringing something to the Bronx community, my community, that is a prideful event and a reason to be proud of the borrow, without needing to commute to Manhattan or Queens to experience a festival that celebrates culture, cuisine and commerce.
We always say culture, cuisine and commerce because culture encompasses the diversity of the city with so many different flavors, cuisine because this is the grand unifier, everyone can enjoy a meal together no matter what skin tone or nationality and commerce is the idea of creating space for young entrepreneurs and small local businesses to present what they do to a large number of people and promote their business to help them move into the next stage of their success. This encompasses everything we are about, supporting small businesses, young entrepreneurship and of course, good, good food.
Have you encountered any problems while being a business owner for these two organizations?
When you’re an entrepreneur or small business owner, you always encounter problems. It’s always a matter of hiring the right people, navigating through resources, financing and funding, but mostly it’s identifying and understanding the demographic. I think for me, as a serial entrepreneur, a good idea is a good idea, but you need to identify your key demographic. You need to identify what you do and who it’s for. Then, you work for months or years fine-tuning to make everything connect and basically build a community around your brand.
For example, Round Seven Media is a brand that understands the power of our way of doing business. We are known as one of the top agencies in New York to run launch campaigns for brands because we are dedicated to doing that. With something like The Bronx Night Market, it’s about identifying Bronx-based foodies and people that want to explore offerings and now they have the opportunity to do that in a place where they feel safe, secure and happy. The event is really designed for the community instead of something that could be done anywhere else.
What do you look for in employees that you hire for your company?
We hire on a regular basis, we continuously hire for different projects on behalf of companies. When we finish a launch campaign at Round Seven Media, we like to hire people to replace us, younger people, hungry people that can do social media for those brands. When we look at hiring, the most important thing for us at the moment is consistency and the ability to have a follow-up and a follow-through. I think those are the three very, very important elements because in today’s field of business, having consistency and bringing your A-game every time is something that is critical to the success of any business. I’ve unfortunately had to work with people that can bring 120% one day and 30% the next day. This also has a lot to do with company culture and the idea that you need to create an environment that allows people to be consistent.
Another big part is the ability to follow up and follow through. I can’t even tell you how many times you will be doing things where you need to follow up with clients and partners and sometimes it even takes up to 20 emails. Each and every opportunity for you to accomplish something or to create something if you don’t follow through, you have failed. We are also looking for employees that are super savvy with communications and social media because this is becoming a crucial part of any brand. The ability to understand how media works and how to maximize these services is important to our brand.
What advice would you give to young entrepreneurs like you once were?
If I had to give one piece of advice to young entrepreneurs, it would be to not bite off more than you can chew: focus, focus, focus. I keep seeing a lot of young entrepreneurs that I work with trying to do too much. They try to put on six or seven different hats and be the CEO of the universe at the same time. I always say, focus on the one thing, take your time, become the best in your field and then explore from there. From what I’ve seen, the ability to focus and distill your message and brand into the simplest form and show it to other people such as the investors and partners, showing your dedication to a single idea is the most valuable.
When I used to work on movies, right after grad school, one of the exercises I had that influenced me completely was an exercise of writing a logline for a feature film. You have a script of like 90 pages that you need to turn in to a 25-word logline that will explain exactly what that movie is. It’s almost an impossible mission, but once you start on this, you understand how important the focus is. I now tell people you need to understand your business so well that nothing will get in the way. That’s how you get investors and money.
I know you’re passionate about food, what are some restaurants you would recommend to our readers?
It’s hard to talk about restaurants right now when the restaurant industry is suffering so much. Every day we see another one of my favorite restaurants closing down and the industry is struggling especially when it seems like the industry won’t open soon. I’ll tell you about food in general, as a foodie the most important thing for me is not chasing trends, but a restaurant that has a focused menu, where they know what they’re doing and they’re focused on creating the best experience with a sense of consistency. I know I probably sound like everything is driven like that, but honestly, it’s so important.
Before covid I used to go to a restaurant once a month in West Harlem that used to make the most amazing eggplant pasta, there was also a place I used to go with the most amazing salmon dish and I used to go to another place with the most amazing pad thai. That’s the best thing about living in New York, you get exposed to so much food and you’ll try a lot of trends, but at the end of the day, when you hit something that you know is going to be just as good every time you get it, it becomes the place you go for that dish.
The older I get I realize that’s the most important thing because I want to go back to the restaurant five years later and get the same food and experience. I’m hoping we’ll come out of this soon and be able to go and enjoy restaurants again. Even if you don’t like restaurants and you’re a great cook, you miss sitting down with your friends in a restaurant, eating some food, enjoying a bottle of wine and sharing a good laugh. It’s not about the food, it’s about the experience.
Where do you see yourself going next in your career?
At the moment we are trying to get back to normal life especially with Bronx Night Market and other events that we have. I’m working very hard to define what we can do in public spaces to help restaurants and other brick and mortar restaurants come back to life.
At the moment, I’m really dedicating a lot of my time to working with city and state agencies to create programming that will allow brick and mortar businesses to have more visibility as well as helping small businesses that began at home during the pandemic. I like to call these businesses “homentrepreneurs” and they will need a place for their businesses outside to get more traction in the community once the pandemic is over.
I am taking my experience within marketing and media, my ability to push forth different agendas and my ability to plan different activities to bring these skills to neighborhoods around New York and support these businesses and give a place for new entrepreneurs to grow outside of their homes. This is something I have been very excited about for a few months.
After Covid is over, are there any events you would hope for the MASC Hospitality Group to execute?
Help New Yorkers get back to normal as soon as possible. Possibly that will be creating open-air markets and events relating to many different niches, and just to let New Yorkers come to celebrate returning to normalcy. After covid, trying to figure out with different partners how to help businesses survive the next few months and thrive as soon as we get out of this crisis. This has been a focus for us to do. We have seen way too many friends of ours close shop and disappear.
New Year’s resolutions are not only for individuals but businesses too. Company goals leaders set for the year ahead are usually measured in data tied to categories like revenue production and expense reduction.
After a difficult 2020 due to COVID-19, many enterprises’ bottom-line numbers will take on extra importance in 2021. And business culture will be just as crucial. Any resolutions that company leaders make are an effective way to measure their work environment and help their teams meet performance metrics, says Mark McClain, CEO and co-founder of SailPoint and the ForbesBooks author of Joy and Success at Work: Building Organizations that Don’t Suck (the Life Out of People).
“Meeting individual, team, and company goals begin with employees and managers working well together in a vibrant environment,” McClain says. “And given the changes and challenges of these times, culture and how leaders pay attention to it have never been more important.
“The bottom line falls into place when everyone is on the same page. But even if leaders have established a strong culture, it bears constant vigilance to ensure everyone is rowing in the same direction, especially now when a volatile world can threaten to throw even the most solid companies off course.”
McClain offers these business culture resolutions for the New Year that leaders could consider:
- Focus on shared values. McClain thinks it’s misleading to frequently state that a “family atmosphere” exists in a company. “The bigger a company gets or the more it grows in capability and value, the less it’s going to feel like a family,” he says. “Creative friction and disagreement on processes and concepts are inevitable. Smart companies leverage broader, shared values as common ground on which workers can connect. I’ve found one of the best places for doing that is through service to the community beyond company walls. If your culture encourages people to work together for some greater good, they’ll continue to appreciate each other as humans and fellow workers.”
- Avoid prima donnas. ”Talented people are essential for a successful business,” McClain says, “but don’t fall in love with a gifted person if they are constantly letting you know how special they are. Watching them work can be breathtaking, but not when they’re the ones sucking the air out of the room.”
- Double down on integrity. “Large legacy companies are often loaded with people who are just taking up space and collecting a paycheck,” McClain says. “It’s a significant issue, and it goes hand-in-hand with integrity. Effective workers know the difference between busywork and producing value. Everybody in the organization must be clear on what success looks like. The role of management is to be clear on objectives and then let people run.”
- Don’t stop innovating. McClain says many companies stagnate in this area and should learn how to expand their innovations while encouraging the cultivation of new ideas. “Innovation is an amalgam of product marketing and product management skills, of listening to the market, and of engineering people who can take a problem and figure out how to solve it,” he says. “But innovation should apply in every direction – in how a company contracts, how they sell, how they market.”
- Be the first to own mistakes. “Anyone who has been involved in conflict directly knows there’s always the sense that both parties have some responsibility,” McClain says. “The sooner you own yours, the more likely the other person will own theirs – and the project can move forward.”
“New Year’s resolutions are often easily discarded because of a person’s lack of commitment,” McClain says. “For business leaders and their workforce, they reflect company core values and can create or improve a culture that everyone will appreciate and aspire to uphold and deepen.”
About Mark McClain
Mark McClain, ForbesBooks author of Joy and Success at Work: Building Organizations that Don’t Suck (the Life Out of People), is CEO of SailPoint, a leader in the enterprise identity management market. McClain has led the company from its beginnings in 2005, when it started as a three-person team, to today, where SailPoint has grown to more than 1,200 employees who serve customers in 35 countries.
An entertainment industry veteran with close to 50 years of professional experience in cable television, live events and new media, Larry Namer is a founding partner of Metan Global Entertainment Group (MGEG), a venture created to develop and distribute entertainment content and media specifically for Chinese speaking audiences in China and abroad. In 2018, the company launched the MGEG Film Fund I and serves as a managing partner. He is also the executive producer of the recently announced feature film “EMPRESS,” a new travel series for the China audience titled “Explore The World,” and an executive producer of the new crime series “Nova Vita.” He is a co-founder of the recently launched lifestyle platform BeautyKween. Most recently, he was appointed Chief Operating Officer of FanVestor.
Mr. Namer is the co-founder of E! Entertainment Television, a company now valued at over four billion USD, and the creator of several successful companies in the United States and overseas. Among those companies are Comspan Communications that pioneered Western forms of entertainment in the former Soviet Union and Steeplechase Media that served as the primary consultant to Microsoft’s MiTV for developing interactive TV applications.
Early on, he was named the youngest general manager of a major cable system at Valley Cable TV (VCTV) in Los Angeles. His vision and direction garnered VCTV several Emmy and Cable ACE award nominations, as well as recognition by Forbes magazine as the national model for local cable television programming. In 1989, he was awarded the prestigious President’s Award from the National Cable Television Association. He was honored with the “Outstanding Contribution to Asian Television Award” at the 19th Asian Television Awards in Singapore and received the International Media Legacy Award at the 2017 Elite Awards Foundation Gala. He was the recipient of Lifetime Achievement Awards at the 2018 Hollywood Tribute Awards and the 2019 Hollywood China Night, presented by the American-Chinese CEO Society, both in celebration of the Academy Awards®. In July 2019, he was awarded The Tribeca Disruptor Award at the Novus Summit, held at the United Nations, and in September 2020, he received the Lifetime Achievement Award from the French Riviera Film Festival.
We sat down with Mr. Namer to ask him a few questions about the recent collaboration between the companies FanVestor and Cre8or Global. The companies are working together to connect celebrities with their fans. The companies want to deliver future investment opportunities, exclusive perks and experiences, as well as fan-focused sweepstakes, eCommerce exclusives and charity offerings to fans.
What made FanVestor interested in partnering with Cre8or Global?
We felt that Cre8or had a unique business model as well as all the resources to execute that plan. They already had some major celebrities and sports figures working with them on beauty, make-up, and wellness products which would fit perfectly into the FanVestor systems. We already had certain celebrities who were looking for strong partners who could take them into those spheres and develop and distribute the products. So, it was a clear and good match for both companies.
What are some things the public can look forward to as a result of this collaboration?
Very quickly you will see a few major celebrities launch their new product lines directly to their fans via FanVestor. These will be special editions that come with some nice perks which can be collectibles or even unique dream experiences. After first exposing these to hardcore fans, then the products will be made available to the general public. Then a little further down the road, you will see that fans will have the opportunity not only to acquire products, but they will be able to invest in those very same companies
What lead you to become the chief operating officer for FanVestor?
Well, I was on the advisory board at first because I was intrigued with the concept, but as time went on I learned a lot more and felt that with what FanVestor had accomplished so far coupled with my skills and connections, there was a great opportunity to make FanVestor a market leader and game-changer.
Are there any celebrities that FanVestor and Cre8or Global want to work with that you haven’t yet?
Yes, I would say there are hundreds of celebs that this makes sense for. FanVestor’s targets are sports, esports, fashion, art, film, TV and music stars, and influencers. Just take a dozen from each group and you are over 100. Then there are so many areas that are of interest to us and to celebrities, beyond unique products. There are securities, bonds, experiences and perks, charity fundraising, auctions, sweepstakes, and so on. Over the career of a celebrity, he or she might want to engage in projects within several of those activities.
Does FanVestor have any ideas for the future for other companies you would like to partner with?
I think the concept of fans wanting to engage with their heroes and celebrities wanting to have a closer, more intimate relationship with their fans is universal. I can see us doing localized versions of FanVestor in other countries and other languages (other than English). I’m a strong believer in finding good, experienced, local partners whenever I engage in business outside the United States.
What advice would you give fans that want to invest in celebrities through FanVestor?
While return on investment is certainly something to consider, think beyond just the monetary measures and of the intangibles that come with it. For example, the Green Bay Packers are owned by fans and they have special shareholder days and even a merchandise catalog of things only available to shareholders. Besides the monetary reward, they relish in having that stock certificate framed and hanging on the wall for all their friends to see. There is a pleasure to be had in supporting your team that way. So, it’s not just money that is part of the ROI. Choose the things you feel passionate about, whether it be a sports team or a celebrity doing great charity work.
How can the public get involved in this partnership between FanVestor and Cre8or Global?
Starting next month, you will begin to see the Website and mobile apps populated with the first of a wave of fan opportunities. You can go on right now and register to be kept apprised of all the news
Since you are using the celebrities’ own fanbases, do you see any major problems occurring with promoting the product line?
Not at all. There will be some very clear communication between the celeb and the fans, so everyone knows what is being offered. When it comes to securities, everything is regulated on a federal level, so there is consistency in what and how opportunities are offered to fans.
Where do you see this partnership going in the future? Will the companies continue to work together to connect celebrities and their fans?
Yes, FanVestor and Cre8or are perfectly aligned. Crea8or knows how to develop and market new products with celebrity tie-ins. FanVestor knows how to monetize fandom. Today with the world-changing the way it has, celebrities and their managers, are looking for new ways, to connect to their fanbases and monetize those connections. FanVestor and Cre8or provide a one-stop shop for them.
Starting a graphics and design business is easy as long as you do your market research properly beforehand. Besides knowing the legal requirements and other expected requirements, gathering the right tools for your business to run successfully is crucial. One of the most important items you need is a good printer. How do you settle for one when many of these items are being advertised in the market? Check out a few pointers to ensure that you choose the right printer to support your growing business.
Consider What Materials You Will Be Printing
You are likely going to be printing specific things on your printer. For instance, a black-only laser printer is excellent for when you need high quality black and white monochrome output for text proofing. On the other hand, when working with colors, you need something with color output offers. You can opt for an inkjet device or laser printer, and in other cases, a solid ink printer may work. If you print a lot of media and images, ink jet will still be the best option.
Gauge Output Resolutions
Whenever you print the final output, you will most likely need the results to be clean and crisp. A high-resolution device is what most professional graphics design businesses will need, especially if the goal is to end up with a proofing device that shows the design’s overall look. Always exercise caution when checking the resolution stats and specifications. Laser and inkjet printers may appear similar but have differ in their diverse technological functions.
Consider Your Output Usage
Have a list of all the things you intend to use the printer for when purchasing it. For instance, any heat-based lamination processes will require printers that are not inkjet. If you insist on using inkjets, then you should prepare for poor quality printouts. Any printer with a low melting point means that they are vulnerable to high temperatures. The last thing you want is a printout that is not moisture resistant.
Consider Page Sizes
Your printer choice should factor in the size of your output. For a letter or tabloid-sized pages, you should consider choosing broad-range devices. Always have the page size in mind when you are selecting a printer. Consider the specifications of the printer to know how much space it will print on paper.
Printer output speeds are crucial, especially if you choose a printer that will serve you in the workspace. Select a printer whose speeds match the work schedule you intend to handle once you are operating at optimum level. You should be prepared to pay more for extra fast speeds too. Choose a faster processor that can power heavy use proofer with the ability to print multiple page layouts with complex graphics. You can compare a catalog of office printers from Konica Minolta to choose the one that works best for you.
Many factors need to be considered when you are choosing a commercial printer. Make a point to go through this list, note the details, and check its boxes before making your decision. This way, you will be sure to find one that matches all of your needs.
Purdue University technologies have generated 300-plus startups, helping millions of people in 100-plus countries and continuing Purdue’s commercialization ecosystem on a fast-paced upward trend to move inventions to the global market, where they can improve lives and advance the economy.
In fiscal-year 2020, two pillars of Purdue’s commercialization ecosystem, Purdue Research Foundation Office of Technology Commercialization and Purdue Foundry, generated record growth with the highest numbers ever reported in a single year for patent applications, issued patents, technology disclosures, licensing deals and startup creation.
During FY20, Purdue generated a record 55 startups in West Lafayette, Indiana. Of those, 22 originated from Purdue-licensed intellectual property and 33 from company-based entrepreneurs including Purdue students and alumni.
“The numbers are important, but even more important are the lives that are changed by the research of Purdue’s outstanding faculty and students as the results of this research are moved through the commercialization process and made available to people around the world,” Purdue President Mitch Daniels said. “There is much happening in the world today, and one of the most important contributions we can make to our society is to educate tomorrow’s leaders and involve them with the world-changing research of our faculty.”
Purdue’s FY20 ended June 30 and results include:
· Technology disclosures – 408, compared with 360 last year.
· Signed licenses and options – 148, compared with 136 last year.
· Technologies licensed – 225, compared with 231 last year.
· Startups from Purdue intellectual property – 22, compared with 17 last year.
· Issued patents – 252, with 180 U.S. and 72 international. Last year, the figures were 141 U.S. and 68 international patents issued.
· Total patent applications filed – 721, compared with 671 last year.
Click on technology commercialization data and/or Purdue-affiliated startups for a full list of each set of metrics.
Purdue is ranked third in the U.S. for startup creation in a report, compiled and reported by IPWatchdog Institute. The data used in the study was collected by AUTM over the period of 2008-18. Purdue also is ranked 13th in the world among universities granted U.S. utility patents for 2019 by the National Academy of Inventors and the Intellectual Property Owners Association.
Cumulative commercialization results include $400 million-plus in startup investments and funding, 400-plus jobs created and nine Purdue startups that have been acquired by international companies for $2.3 billion-plus. The research concentrations reported in the disclosures include numerous sectors in sustainability, health, space and artificial intelligence.
“I could not be more proud of Purdue’s researchers who have dedicated their lives to creating technologies to help others and our team of technology transfer professionals, who work diligently to move Purdue’s inventions from the laboratory to the public,” said Brooke Beier, vice president of the Office of Technology Commercialization. “Everyone involved in this process understands and appreciates the important work that is being done to help our global society.”
Wade Lange, vice president and chief entrepreneurial officer of the Purdue Research Foundation, said, “The Purdue commercialization ecosystem has developed into one of the most effective technology-based startup and licensing machines in the world, and these annual results reflect its success. From researchers to students to administrators to alumni and to our Greater Lafayette community partners, we are working together often and collaboratively to create and advance startups. We anticipate the next year will garner even more life-changing results.”
Resources available through the Purdue entrepreneurial ecosystem include the Purdue Foundry, Purdue Research Foundation, Office of Technology Commercialization, the Burton D Morgan Center for Entrepreneurship, the John Martinson Entrepreneurship Center and the Anvil.
Assistance for startups include mentorship, networking, marketing and funding programs. JUA Technologies International, a Purdue-affiliated startup that is developing solar-powered crop-drying devices, has received assistance from the Purdue Office of Technology Transfer Commercialization and Purdue Foundry. The startup was co-founded by husband-wife team of Klein Ileleji, a professor in agricultural and biological engineering at Purdue, and Reiko Habuto Ileleji, a Purdue alumna who earned her Ph.D. from Purdue’s College of Education.
“I am part of the research team that developed our crop-drying innovation at Purdue, and my wife and I founded JUA in 2016 after licensing the technology through the Office of Technology Commercialization. We continue to work closely with the Purdue Foundry,” Ileleji said. “I don’t believe we would have pursued a startup without Purdue’s strong entrepreneurial assistance programs.”
JUA has received funding, including a $100,000 Small Business Innovation Research Phase I grant from the U.S. Department of Agriculture and a $50,000 match investment from Elevate Ventures through Indiana’s 21st Century Research and Technology Fund. The company also received $50,000 through the Purdue Ag-celerator Fund, a research advancement initiative created in 2015 and managed through Purdue Ventures, Purdue Foundry and Purdue College of Agriculture. Purdue Moves supports Ag-celerator fund.
Five innovations that will transform the fashion industry awarded €1 million by H&M Foundation
From lab-grown cotton and creating fabrics from protein DNA, to tracking sustainable fibers by using blockchain technology, wastewater separation and converting carbon dioxide into sustainable polyester. These are the five winning innovations of the 2020 Global Change Award, named the Nobel Prize of sustainable fashion, is the non-profit H&M Foundation‘s fifth annual innovation challenge. Now, more than ever, H&M Foundation wants to continue to support long-term development, innovation and entrepreneurship for a sustainable future. The goal is to identify early-stage, disruptive ideas that can make fashion more sustainable, and to scale them to transform the entire fashion industry.
“In these uncertain times, when large parts of the world have been affected by the COVID-19 pandemic, H&M Foundation thinks it’s even more important to find and encourage ideas that can contribute to a more sustainable future for us and generations to come. We are fully committed in supporting our Global Change Award winners of 2020 through our financial grant and Innovation Accelerator Program so that they can keep working and accelerate the development of their innovations and move the needle forward in sustainable fashion.”
“H&M Foundation continues to support entrepreneurs and innovators for long-term sustainability. Every year I am amazed by the ideas submitted to the Global Change Award. The innovations are in themselves challenging the way we think about fashion. We are moving away from the old, linear ways of thinking, and move faster towards a planet positive and sustainable model. The winning innovations will help our industry reinvent itself and hopefully also inspire even more great minds out there,” says Karl-Johan Persson, board member of H&M Foundation.
This year, the Global Change Award Expert Panel selected five winning innovations out of 5,893 entries from 175 countries, during the period August-October 2019.
The Global Change Award winners 2020:
€300,000 – Incredible Cotton by GALY (US/Brazil).
Using biotechnology to create lab-grown cotton. See short film HERE.
€250,000 – Feature Fibres by Werewool (US).
€150,000 – Zero Sludge by SeaChange Technologies (US)
Separating and cleaning wastewater to eliminate toxic sludge in landfills. See short film HERE.
€150,000 – Airwear by Fairbri
Converting greenhouse gas into sustainable polyester. See short film HERE.
In addition to the €1 million grant, H&M Foundation enrolls the winners in a one-year Innovation Accelerator Program. The program, run in cooperation with Accenture and KTH Royal Institute of Technology, is designed to connect the winners with the fashion industry and speed up the process of bringing their innovations to the market.
“Winning the Global Change Award validates the recognition and belief in our vision as a company and open new doors for partnerships, technology and call to action for the entire industry. We are going to work hard to make our vision come true and we believe this award is one of the most important steps for this accomplishment”, says Luciano Bueno, Founder and CEO of GALY.
Since the start in 2015, the innovation challenge has seen over 20,000 entries from more than 200 countries and territories. During these five years, the Foundation has granted €5 million in 25 sustainable innovations, many of which have become global commercial products and services, workin
Donation to COVID-19 Solidarity Response Fund
In addition to the work related to Global Change Award, the H&M Foundation have donated USD 500,000 to the COVID-19 Solidarity Response Fund for World Health Organization (WHO) launched by United Nations Foundation. Learn more HERE.
About the Global Change Award
Global Change Award was initiated in 2015 by the non-profit H&M Foundation. By catalyzing early-stage innovations that can accelerate the shift from a linear to circular fashion industry, the aim is to protect the planet and our living conditions. Each year five winning teams share a grant of €1 million and get access to a one-year Innovation Accelerator Program provided by the H&M Foundation, in collaboration with Accenture and KTH Royal Institute of Technology. Neither H&M Foundation nor H&M Group takes any equity or intellectual property rights in the innovations. The H&M Foundation is a non-profit global foundation, privately funded by the Stefan Persson family, founders and main owners of H&M Group. Its overall aim is to accelerate the progress needed to reach the UN Sustainable Development Goals by 2030. Learn more at globalchangeaward.com.
By now we should all be familiar with the pace of technology, one of the last great frontiers for the entrepreneur. Even though it doesn’t occur to us in the moment, new innovations continue to shape our world from year to year.
Compare the year 2020 to the turn of the century. In the first two decades of the 21st century, we’ve gotten used to social media, 3D printing, blockchains, eBooks, CRISPR gene editing, online streaming video and the wide-scale adoption of mobile phones. Likewise, we started the new millennium not knowing the names of Facebook, Spotify, YouTube, Uber, AirBnB or Twitter.
What do the coming years bring? Our best economic and technological forecasters have picked a few rising stars in tech innovation who just might sculpt the next horizon in industry.
We’ve all heard of marketing companies collecting data on mobile users to use as research on user behavior, but StartApp simply has more data than anybody else. Tapping a billion active mobile users every month across 350K apps, StartApp anonymously logs this user data and then packages it for sale to companies to help them make better decisions about development, user interface design, and marketing. Having grown from $200K to $37 million in revenue, StartApp is poised to be the Amazon of customer service information.
While we were all anticipating the advent of driverless cars, still a hazy future promise, it occurred to our AI scientists that the experience of driving just isn’t documented enough to teach it to a robot. Nauto is one company helping to fix that, by building an autonomous driving data platform. Using cameras both exterior and interior, Nauto systems track both the road conditions and obstacles and the driver’s reactions, showing us what we respond to and how fast. It’s also aimed at reducing driver distraction and fatigue. With over $1 million in investor funding raised so far, the company aims first to enable better driver-assistance technology, before aiming at removing the need for a driver completely.
Evisort is simple to explain: It’s “Google for contracts.” Except, rather than just automating text search, it’s an expert system trained for the legal profession, allowing it to parse out key dates, names, provisions, limitations, dollar amounts and legal clauses. This turns out to be a huge part of the day for anybody working in the legal profession, where the average lawyer might handle dozens of contracts numbering 30 pages or more per week. Human contract review is costly, time-consuming, and prone to errors, so an automated AI for contract management is something every legal worker wants. Evisort has raised over $5 million in investor funding and been praised in both Forbes and Harvard Law Review.
The hospitality industry has been late to the party of industries changed by technology, but its turn has come. CloudBeds is a smart business management software for hotels, with an end-to-end platform that handles the unique challenges of property management and booking together with business management. The result is that hotels run better and make more money. Hotels, being a future-proof industry that online commerce can’t replace, are going to be around for a long time, and CloudBeds raising $20 million in investor funding shows that they’re going to be offering something every hotel wants.
The most senior member on this list, SnapChat has been in business for most of the 2010s, but it’s the social network platform with the brightest future. Just as Facebook took the crown from MySpace, everyone’s been counting the days until Facebook finds itself left behind by the next generation of web users. But which social network will it be? With a user base approaching 210 million people across 22 languages, SnapChat is a social network geared for the mobile platform and more favored by younger generations.
Much of the technology in recent years is driven by the advent of large data and deep learning methods in artificial intelligence. There are many more industries that can be innovated to the same degree that the above list has been – aspiring entrepreneurs take note!
So you’ve decided to become a bar owner, congratulations! Now, you find yourself in the same dilemma many creative, business-minded entrepreneurs know all too well: You need additional funds to make your dream come true. What to do?
Lucky for you, there are several options you can look into. Let’s examine each one to see which one is the right move for you.
Take out a personal loan
This is a popular option among budding entrepreneurs because it has a higher success rate and offers a greater degree of flexibility. This is your best bet if you are starting a bar from scratch or if you don’t have an established business history yet.
Unlike a business loan, a personal loan will not require you to put down collateral or provide proof of cash flow. After all, it’s difficult to show income if you don’t have it yet. Business loans also have major restrictions on how the loan is used, but a personal loan gives you more freedom.
Your personal financial history and credit score will determine your eligibility and the rates and terms of your loan. A credit score of 600 puts you in an excellent position to qualify. Documents you need to submit include but are not limited to personal identification, bank statements, W-2 or pay stubs, and tax return.
Keep in mind that personal loans are generally smaller compared to a business loan so you may need to look into more options to acquire the rest of the funding you need. We discuss more below.
Look for investors
This is an excellent solution to share the financial burden with someone else. Investors provide startup money and can bring their business management expertise to the table. For this to work, you’ll have to get comfortable with splitting profits and giving up a share of your business.
If you wish to retain control of your bar, silent investors are great because they get out of your hair after providing the funding. They might be involved in big-picture dealings and will offer help if needed, but other than that, they stay in the background and leave the daily management to you.
The catch? They might pressure you to turn a profit sooner rather than later though. They may get restless and force a sale.
Active investors will generally be more involved in the day-to-day operations of your bar in an effort to enhance the return of their investment. They can also be helpful to first-time entrepreneurs looking to make industry connections and learn the tricks of the trade.
While active investors bring their business to the enterprise, you will definitely have to give up a degree of control. Some investors might agree to simply advance capital in exchange for collateral and payback with interest or a percentage of your profits.
Turn to your friends, family, and peers
Use your connections! Do you know someone who has the resources to spare? You can start reaching out to your peers in the industry or even to friends and family. This fast-tracks your funding process by skipping the legal entanglements typically involved in a traditional loan.
If you go the family and friends route, the pitch probably isn’t going to be all that complicated. But keep in mind that money and family sometimes don’t mix. If your bar fails to take off, things might get ugly. Especially with equity involved, put everything in writing and bring in a business lawyer as a safety net.
Reach out to the world through crowdfunding
If you’ve exhausted all your connections to no avail, the internet might be your savior. Yes, you can raise money for your new bar from strangers online through websites like GoFundMe, Patreon, and Kickstarter. How great is that?
Needless to say, you will have to convince these people why they should fund your bar. Tell your story and make sure to let your passion shine through.
Transparency will get you far down this route. Be specific on how you intend to spend the money they give you and provide updates. You would be surprised at how many people would be willing to donate their own money to help you with your venture.
Depending on your campaign, you can give these backers perks or rewards in return. However, if you choose to do it via equity crowdfunding, which will easily attract investors, you are selling off a degree of ownership control over your company.
Know that you will also need to actively market your campaign, so it can be seen and gain traction fast. This will take a lot of patience and hard work.
Use your 401(k)
If you are looking to ditch the 9-to-5 life in favor of being your own boss as a bar owner, this might be something to consider if you have saved up enough from your previous jobs.
You’re staking your retirement savings here, so make sure you are 100% certain of your bar idea. Most people can get overconfident for their own good. Consult a tax attorney, if needed, and look at all angles before you take the leap.
Consider the other options presented in this article first before cracking your 401(k) nest egg.
Get funding for expensive equipment
Equipment is an essential investment for any bar operation that comes that a premium price. A lender or bank can help you purchase the required furnishings to get your business up and running through equipment financing.
Here, you receive the entire amount based on a price quote you provide to the lender. You can’t use the funding for anything other than the equipment you intend to buy.
The collateral here is the equipment itself, which is great because you won’t have to worry about paying off more in the unfortunate event that your bar goes under.
When securing your bar equipment, it is important to anticipate your needs and choose the right configuration for your establishment. For a bar, you’ll need equipment such as keg coolers, undercounter refrigerators, and commercial ice makers.
While it can be tempting to go for second-hand items, buying brand new equipment can benefit your business in the long run. Used equipment can lead to unpleasant surprises that might cost you way more than the savings you initially had. Replacement parts for last-generation models will likely be very hard to find, thus halting your operation longer than it should.
Plus, it can be difficult to find out how well it has been maintained and the service life it has left. With any luck, you might be able to track down the original invoice and check the warranty it comes with.
With brand new equipment, you enjoy more savings and peace of mind that your business runs as it should. Benefits include:
• For the higher price tag, you get equipment that is less likely to break down to avoid disruptions that can cost you precious business, especially during peak hours.
• New units are generally more energy-efficient and environment-friendly than older models
• They go for much higher resale value, especially for well-known brands
• You can count on a more responsive service department for servicing and readily available replacement parts
We are committed to protecting your investment. We have an excellent selection of brand new and highly durable products from Manitowoc ice makers to Beverage Air refrigerators that come with excellent warranties and unrivaled customer support. We make sure your purchases work their best beyond the initial quality control.
Explore the benefits of a business credit card
This is the perfect option for buying ingredients and supplies. You’ll only need your credit score as qualification, and it doesn’t have to be all that impressive either. If you are at 600, you have a good chance of getting approved. Plus, the application process is easy.
You know how you get some perks and rewards every time you swipe your personal credit card? You can enjoy the same for your bar here. You can get excellent cash back and credit for business expenses.
Consider credit card receipt financing
There are some lenders that partially base their loan on receiving part of the credit card receipts from your customers. The process basically involves selling your future credit card sales in exchange for a cash advance. A portion of each credit card sale is taken out as payment. This can be an interesting approach but can also interfere with your finances.
Financing your new bar the right way
As a rule of thumb, you should have at least six months of expenses available in the bank when you start. Most businesses fail because of a lack of financing. So either do it right from the beginning or hold off until you can.