Mon, Jul 24, 2017 | updated 08:05 PM IST

Millennium Alliance launches ADITI to scale cooperation between India, Africa through Innovation, Technology transfer

Updated: Oct 27, 2016 15:39 IST      
Millennium Alliance launches ADITI to scale cooperation between India, Africa through Innovation, Technology transfer

New Delhi [India], Oct 27 (ANI-BusinessWireIndia): Millennium Alliance, a joint initiative of the Technology Development Board, Government of India; United States Agency for International Development; Federation of Indian Chambers of Commerce and Industry; United Kingdom Agency for International Development (UKAID), ICCo Cooperation (Netherlands); ICICI Foundation for Inclusive Growth; Wadhwani Initiative for Sustainable Healthcare (WISH Foundation); World Bank Group and Facebook is a national platform to identify, test, award and scale innovations which bring improvements at the Bottom of the Pyramid ( BOP).

The Alliance has so far funded 62 high impact social innovations with close to Rs. 55 crore. Out of these, twelve enterprises have been funded for replication of their innovations in Africa and South Asia including Kenya, Ethiopia, Uganda, Rwanda, Afghanistan, Nepal and Bangladesh.

Buoyed by success of the Program and responding to the Prime Minister of India, Narendra Modi's call, "India shares because it cares" as enshrined in the Joint Statement of Prime Minister with the Heads of States in India Africa Forum Summit III (IAFS III), the Millennium Alliance has launched a special initiative called 'African Development through Indian Technologies and Innovation (ADITI).'

ADITI aims to foster South-South cooperation between India and Africa through innovation and technology transfer. Under ADITI, the Millennium Alliance shall provide financial and technical support to Indian entrepreneurs who have successfully demonstrated their technologies in India and are willing to scale them in Africa.

Responding to the needs of African markets, these technologies and innovations would provide low cost affordable solutions for service delivery at last mile in priority sectors such as agriculture, healthcare, water and sanitation, education and financial inclusion.

The Alliance is already supporting replication of Indian innovations in Kenya such as CassavaTech, a patented technology that brings down capital cost of processing Cassava from USD 15,000 to USD 200 and reduces operating cost from USD 20 to USD two for 200 kg processing capacity.

The technology further reduces drying time for Cassava from 10 days to 10 hours producing high quality Cassava flour. Another technology being replicated in Kenya is ~100 percent compostable menstrual hygiene solution providing affordable pads to adolescent girls and women.

This is done using a unique low cost, low electricity consuming machine that produces 1200-2400pads/eight-10 hrs through community participation from 12-16 women (no specific skills required) as production workforce.

Dr. Bindu Dey, Secretary, Technology Development Board stated, "TDB's partnership with FICCI, USAID, DFID, ICCO, ICICI, WISH and other like-minded organizations to create a unique platform called Millennium Alliance is revolutionizing social enterprises by leveraging India's creativity, expertise and resources to scout and build innovative solutions for those who are needy but mostly ignored. We have now created the very special ADITI initiative under the Alliance to transfer the knowledge to our friends in Africa by way of technology transfer."

Dr. A Didar Singh, Secretary General, FICCI said, "ADITI is a natural extension of the work being done under the Millennium Alliance. The intellectual property being developed by Indian innovators should be shared with African entrepreneurs to foster bilateral cooperation and in the interest of global prosperity. India and Africa face similar challenges and it is wise that we work together to develop innovative solutions to meet to respond to such challenges."

Nirankar Saxena, Senior Director, FICCI shared "Millennium Alliance is a first of its kind partnership where several governments have come together to support breakthrough innovations that directly impact the lives of the bottom of the pyramid. ADITI is a positive step forward that would create a bridge for Indian and African entrepreneurs to connect and collaborate to develop and implement solutions that would benefit both sides." (ANI-BusinessWire India)

New Delhi [India], July 24 (ANI-NewsVoir): Pluss Advanced Technologies Pvt. Ltd., a venture funded company by Tata Capital Innovations Fund, has received Rs. 50 lakh grant under the Millennium Alliance Programme by FICCI. The award was presented by Dr. Harsh Vardhan, Union Minister for Science and Technology, Earth Sciences, Environment, Forests and Climate Change, Govt. of India.

Full Story >>

New Delhi [India], July 24 (ANI-NewsVoir): CFA Society India, in collaboration with CFA Institute, the global association of investment professionals, hosted its second annual India Wealth Management Conference, in Mumbai.

Full Story >>

One stop shop for commercial property owners in Mumbai

Updated: Jul 24, 2017 17:09 IST     

New Delhi [India], July 24 (ANI-BusinessWireIndia): Jagaha.com is Mumbai's first dedicated commercial real estate platform. The company started its operations in 2015 with an aim to enhance the commercial real estate market experience by bringing transparency and efficiency through technology and customer service.

Full Story >>

Qbera begins next phase of expansion in Mumbai

Updated: Jul 24, 2017 16:58 IST     

Mumbai [India], July 24 (ANI):Qbera, a fin-tech start-up offering personal loans has announced the launch of its operations in Mumbai as the digital platform facilitates access to funds for salaried individuals through an application process for unsecured loans, providing instant approval and quick loan disbursals.

Full Story >>

New Delhi [India], July 24 (ANI-NewsVoir): KENT RO Systems Ltd., one of the most renowned healthcare brands in India, has been signed up as the principal sponsor of the Pro Kabaddi League team, Haryana Steelers, owned by JSW Group.

Full Story >>

Aasaanjobs announces launch of operation in Ahmedabad

Updated: Jul 24, 2017 16:23 IST     

New Delhi [India], July 24 (ANI): Online recruitment marketplace Aasaanjobs on Monday announced foraying into Ahmedabad, as a part of its strategic expansion plan.

Full Story >>

New Delhi [India], July 24 (ANI): Union Finance Minister Arun Jaitley on Monday introduced a bill to authorise the direct banking companies to resolve the problem of stressed assets.

Full Story >>

New Delhi, July 24 (ANI): Zee Learn Limited, India's leading Education company and India's Most Trusted Diversified Education Brand*, today reported its Standalone and Consolidated Q1 FY18 financial results. The company delivered healthy topline growth and improved its margins by leveraging its business model.

Full Story >>

Mumbai (India), July 24 (ANI): The Standard Chartered Bank on Monday launched a 'Multicurrency Forex Card' to allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel.

Full Story >>

New Delhi [India], July 24 (ANI): The world's largest processed fertilizer cooperative, Indian Farmers Fertiliser Cooperative (IFFCO), today announced signing of a Memorandum of Understanding (MoU) with the Government of Sikkim.

Full Story >>

Aye Finance expands its reach; doubles its footprint in Q1

Updated: Jul 24, 2017 14:09 IST     

New Delhi [India], July 24 (ANI): New age finance company Aye Finance on Monday announced expanding its reach from 33 to 67 branches, thus making more than a double expansion in the first quarter of current financial year.

Full Story >>

ITC gains 2 pct after hike on cigarettes prices amid GST

Updated: Jul 24, 2017 13:52 IST     

New Delhi [India], July 24 (ANI): Shares of ITC gained 2.4 percent in the morning trade on Monday as the cigarette major hiked select product prices following Goods and Services Tax (GST) Council hiked cess to pre-GST level.

Full Story >>

New Delhi [India], July 24 (ANI-NewsVoir): The Millennium Alliance Initiative on Thursday recognized 24 high-impact social innovations from India at an award ceremony organized in New Delhi. The 24 finalists selected from a pool of 710 applications will together receive funding support worth Rs. 8.15 crore.

Full Story >>

New Delhi [India], July 24 (ANI): The opening trade on Monday flagged off on a positive note, with market indices triggeringg a record high with Sensex up by over 133 points at 32,174.51, while the Nifty at 9,947.30.

Full Story >>

New Delhi [India], July 24 (ANI): The International Monetary Fund, in its World Economic Outlook on Monday highlighted a pattern of surge in growth rate among the emerging economies, while the likes of the United States of America and United Kingdom are witnessing a slowdown.

Full Story >>

New Delhi [India], July 23 (ANI): With initiatives like Bharat Net aiding the expansion of broadband network in India, initiatives like Digital India are said to gain momentum, leading to the expansion of social media, an ASSOCHAM paper noted.

Full Story >>

40 percent of India's GDP outside GST: Chidambaram

Updated: Jul 23, 2017 17:51 IST     

Pune (Maharashtra) [India], July 23 (ANI): Criticising the Centre's formulation of the Goods and Services Tax (GST), former finance minister and Congress leader P. Chidambaram pointed out that many products have been kept out of the new tax regime.

Full Story >>

New Delhi [India], July 22 (ANI): The fourth edition of Madhya Pradesh Travel Mart themed 'Seek-Discover-Explore' will be held at Bhopal from October 27 to 29.

Full Story >>

New Delhi [India], July 22 (ANI): Telecom Regulatory Authority of India (TRAI) Chairman R S Sharma on Saturday said that the authority is in view of creating a framework for data privacy and protection, which will be specifically limited to the telecom sector.

Full Story >>

New Delhi [India], July 22 (ANI): Toronto Recombinant Antibody Centre (TRAC) from the University of Toronto, Canada agreed to license MedGenome's patented cancer immunotherapy solution OncoPept to develop biomarkers for their drug candidates against immune modulators to treat cancer.

Full Story >>