The article is contributed by Delzaad Deolaliwala, Chairman, Pan-India Medical Cannabis and Hemp Association (PIMCHA), Co-Founder and Chief Legal Officer, Bombay Hemp Company (BOHECO)
Cannabis Sativa L., also known as Vijaya or Bhanga in Ayurvedic Text and referenced in Atharva Veda – Samitha, has been a part of Indian Traditional Medicine for centuries. The therapeutic use of Vijaya and its formulations have since found mentions across various classical texts and ancient medical treatises, however, in the 19th century, cannabis was classified as a narcotic drug and medicines made out of cannabis came to be strictly regulated across the world.
In India, the use of cannabis in medicines was first regulated by The Dangerous Drugs Act, 1930 and currently comes under The Drugs and Cosmetics Act, 1940. The flowers and buds of the cannabis plant (known as Ganja) are regulated as a “narcotic drug” under the Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) but the leaves (known as Bhang) and seeds when separated from the plant or the flower and buds are not regulated under the NDPS Act, 1985.
As the existing laws in India stand, there are no restrictions or limitations to legally utilizing the fibre, seed and leaf of the hemp plant to develop and commercially distribute products. Regulations regarding cultivation and processing of Industrial Hemp are governed by State departments including Excise, FDA and Ayush. Processing and manufacturing of medicinal cannabis comes under the purview of both Central and State government policies including NDPS Act, State Excise Act, and Drugs and Cosmetics Act.
From a cultivation standpoint, as per Section 14 of the NDPS Act, the cultivation and processing of cannabis plants for industrial purposes (to obtain the fibre or seed) or for horticultural purposes is permissible. The state of Uttarakhand pioneered the cultivation of industrial hemp within the limits of 0.3% THC, while also instituting research studies to allow for the medicinal and scientific use of cannabis plants by R&D institutions under Section 10 of NDPS Act.
From a licensed manufacture use perspective, as per Rule 161 (2) of the Drugs and Cosmetic Rules, 1945, AYUSH medicines containing any Schedule E (1) ingredient (such as the Cannabis Sativa leaf) can legally be taken under medical supervision. The Indian Medicine (Standards of Professional Conduct, Etiquette and Code of Ethics) Regulations, 1982 does not restrict the sale of Ayurvedic medicines containing Schedule E (1) ingredients by a registered practitioner, provided such medicines are sold to their own patients and not the public at large.
The paradigm shift in medical cannabis and industrial hemp regulations was initiated by the United Nations Commission on Narcotic Drugs’ (CND) decision to vote for the removal of cannabis from Schedule IV and reclassify it to Schedule I of the 1961 Single Convention on Narcotic Drugs, where it was listed alongside dangerous opioids like heroin. The voting record is a testament to the evolving attitudes towards cannabis – with 27 of 53 member countries voting in favour. India’s tie-breaking vote was key to the reclassification, as Ukraine had abstained from voting.
The Government’s positive outlook towards cannabis from an industrial and medicinal lens has spurred the growth of a fledgeling sector which, if sustained, can provide enhanced health outcomes, aid doubling farmer’s incomes, generate rural employment and contribute to an environmentally sound ecosystem, in the long run. The Food Safety and Standards Authority of India’s (FSSAI) recognition of hemp seed and oil products as food in 2021 is another landmark decision which has contributed to the changing perception towards hemp and cannabis.
Today, with increasing awareness about the benefits of hemp and medicinal cannabis, there is a need for regulations governing both cultivation and licensed manufacturing use. The sector is in its infancy and requires forward-thinking policies regulating multiple stakeholders across central and state governments along with industry players and farmers as well. Drawing from the Global Best Practices of countries which have already legalized hemp will help in building a robust regulatory framework. Comprehensive guidelines addressing labelling, consumption and licensing will streamline approvals and contribute to the growth of a transparent ecosystem.
An unorganized sector with distinct regulations across different stakeholders has to be sufficiently cognizant of challenges and opportunities to ensure sectoral growth while sufficiently regulating to prevent misuse and/or abuse. Close collaboration between the Government and the industry will be key to a self-reliant hemp ecosystem, leading to an economically sound, socially inclusive and environmentally sustainable future.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by TrainerCentral.
In the last decade, edtech’s growth has been exponential and has transformed the way in which people teach and learn. People have become more welcoming to remote learning, thanks to the easy accessibility of the internet.
The conventional concept of requiring the physical presence of a teacher to teach a trade has become dormant. More and more people are moving towards online course platforms to share their knowledge with the global audience. The ability to share knowledge with learners across countries and create a streamlined business around their passion has significantly contributed to the growth of online course platforms.
There are always questions about why should a person use an online training platform when they can host live classes on Zoom and post videos on YouTube? The reason is simple, these single-purpose tools are not scalable and will create operational chaos as the business grows. Also, the autonomy of establishing your own training brand is missing here. So, online course platforms are the best tool of choice for course creators to streamline and manage different functions of the business.
TrainerCentral has been launched by Zoho to empower online training businesses and help learners. Read the startup story of TrainerCentral, the services offered, business model, marketing, and more.
TrainerCentral is a division of Zoho. TrainerCentral was conceptualized and developed by a boutique team of engineers with a mission to provide a truly all-in-one online training platform. The product was beta launched on August 2021 for select users and was made available for public on November 2021.
TrainerCentral is an all-in-one online training platform transforming the way trainers teach online. The platform offers a comprehensive tool kit for online trainers to create websites, draft course curricula, host live workshops, encourage community learning and generate revenue around their expertise.
TrainerCentral – Vision and Mission
TrainerCentral’s mission is to make knowledge sharing easy and accessible to all with the help of robust technology. They empower trainers with a unified platform to create, run and scale their online training business without the need to integrate multiple tools together.
TrainerCentral – Industry
TC caters to trainers, freelancers or individuals and basically anyone who wants to transform their talent into a successful profession- for instance a home-based teacher, yoga guru, a 12-year old teaching online gaming strategies, or a company upskilling their internal team. The platform is so intuitive that it fits any type of teaching requirement.
According to MRFR’s survey, the online teaching business is set to grow at a rate of 30% CAGR from 2022 to 2026.
TrainerCentral – Founders and Team
Aarthi Elizabeth – Chief Brand Evangelist of TrainerCentral
TrainerCentral team is a bunch of handpicked proven experts in development, marketing and sales. The team is growing rapidly to accommodate the product’s growth and goals. Aarthi is the Chief Brand Evangelist of TrainerCentral. She has experience in growing SaaS products that have won the market in competitive landscapes and is quite confident about TrainerCentral making a huge impact.
“With Trainer Central, they have addressed this digital gap in the e-learning market, by offering all essential tools on a single, easy-to-use platform so that creators can quickly establish their knowledge brand and nurture a dedicated community of learners, all while turning their passion into profit. As their learner community grows, the trainers can continue to scale their business on Trainer Central.” – Aarthi Elizabeth, Chief Brand Evangelist, Trainer Central.
TrainerCentral – The Idea and Startup Story
TrainerCentral Logo
The team did comprehensive research into the gaps in the existing technology and pain points of the online training community. Deep diving into their research they found that the current players had serious setbacks in not offering important tools and integrations that contributed to inefficiencies in online training businesses.
Upon thorough research, they started developing tools to provide a standout product that is deeply integrated, user-friendly and easily scalable. The product was reviewed by well-known trainers from different regions and the feedback was receptive and appreciating.
TrainerCentral – Products and Service
TrainerCentral – Online Training Platform
TrainerCentral is a cloud-based platform that incorporates various tool kits that enable seamless functioning of online training businesses. The product focuses on providing truly end-to-end solutions that enable trainers to manage various aspects of the business in one platform.
Trainers can create an exclusive website using the no-code drag-and-drop style website builder tools, upload course content, create learning methodologies, automate learner communications, host engaging live workshops, link bank accounts and receive payments and much more.
Trainers can also white label the platform by using customized domains for their website and email communications, thereby maintaining consistent branding and ownership.
TrainerCentral – USP and Innovation
TrainerCentral – Online Training and Learning Platform
USP of TrainerCentral products are:
No-code website builder To help create an online presence for trainers, they provide a no-code drag-and-drop styled website builder tool to build dedicated website for their business. The tool provides a library of pre-defined templates using the trainers can launch a website in a matter of minutes.
In-built live classrooms Live workshop is the most sought out feature by trainers in an online training platform. Trainers can now host live virtual classrooms without having to integrate their Zoom or Google Meet accounts. This feature cuts down the burden on trainers of subscribing and integrating different tools.
Breakout rooms feature in live workshops Breakout rooms are a feature to split live class attendees into small groups and create focused discussions and engagements. Trainers can also be assigned to different breakout rooms.
Intuitiveness and flexibility TrainerCentral is known for its intuitiveness and adaptability. The tool was developed from a trainer’s POV, so the platform is sequential and simplified. Anyone with basic computer knowledge can set up and launch an online course without any technical assistance.
White labeling The platform is white label friendly. Trainers can use customized domain for their website to maintain consistent branding. In addition to website domains, email communication domains can also be customized.
Payment gateway integrations TrainerCentral supports payment gateways such as Razorpay, Stripe, Paytm, Forte, Authorize.net, PayPal Payment Pro, and PayPal Payflow Pro.
Top-notch security TrainerCentral is GDPR compliant and follows robust security methodologies to ensure data privacy and security.
TrainerCentral is offered in three different pricing models.
Free Plan: $0 USD
Unlimited learners
Up to 3 free courses
Starter Plan: $16.67 USD/month when billed annually or $20 USD/month
Unlimited learners
Unlimited courses
Live virtual classroom (Up to 50 live participants)
Professional plan: $41.67 USD/month when billed annually or $50 USD/month
All the benefits of the Starter plan
Live virtual classroom (Up to 100 live participants)
Custom domain (full rebranding)
Coupons and discounts
Multi-currency support
TrainerCentral – Customer Acquisition
During the beta launch period, they signed up trainers from different industries and markets to understand the product fit and adaptability. This helped them to refine the product much better and create a wholesome experience for trainers irrespective of their industry.
They were able to convert 60% of their beta users to paying customers. Post public launch, the product started getting organic traction as people started starting their feedback on online forums.
TrainerCentral is focused on organic marketing and product-led growth. Their idea is to add more product value in a cost effective manner and this made them stand out in the market. TrainerCentral subscription charges are 50% lesser than any other providers in the market.
They are focused on content creation to scale the business further. As a team, they believe in long term focused marketing activities, thus spend 90% of their efforts on content.
TrainerCentral – Challenges Faced
The main challenge was to communicate the product’s unique value proposition and gain brand awareness during the initial phase. They focused on product positioning and streamlined communications, to resonate and empathize with potential customers and industry.
TrainerCentral user base is growing on an average of 25% MOM with promising signs to double in the next quarter. Currently, the user base is majorly from India and the US, and have plans to expand to Europe and Eastern countries.
TrainerCentral – Future Plans
TrainerCentral’s product map for the next 1-2 years is to develop the existing features more comprehensively and populate the integration library.
TrainerCentral – Competitors
Few of their competitors are:
Teachable
Kajabi
Thinkific
FAQs
What is TrainerCentral?
TrainerCentral is a cloud-based training platform for trainers and learners.
When was TrainerCentral founded?
TrainerCentral was founded in 2021 in Chennai.
Is TrainerCentral a part of Zoho?
TrainerCentral is a division of Zoho to empower trainers.
What is TrainerCentral pricing?
TrainerCentral Pricing:
Free Plan: $0 USD
Starter Plan: $16.67 USD/month when billed annually or $20 USD/month
Professional Plan: $41.67 USD/month when billed annually or $50 USD/month
The article is contributed by Priyank Trivedi, Founder, WordPress Webers
The Bug Bounty Program is a transaction offered by many websites, organisations, and software developers that allows individuals to credit and reward bugs, especially security vulnerabilities and bugs related to vulnerabilities. These programs allow developers to find and fix bugs before they are noticed by the general public, preventing widespread misuse incidents. Bug bounty programs are implemented by many organisations in India.
Top Indian Companies offering Bug Bounty Programs:
The sequence in the working of the Bug Bounty program are:
Step 1. A researcher will try to find bugs on a platform using software, tools and personal skills.
Step 2. Once the researcher has found the bug, he/she will report it to the Bug Bounty Program of the company along with necessary proofs of the bug.
Step 3. The security team of the company will look into the research provided and evaluate using the steps performed by the researcher.
Step 4. Once the bug is found valid the company will offer “Bounty/Reward” to the researcher for his/her efforts.
Step 5. The Bounty/Reward money depends upon the severity of the bug identified.
Average payouts of Bounties based on severity:
Informational: No bounty is rewarded
Low: $50 – $100
Medium: $200 – $500
High: $500 – $ 1000
Critical: More than $1000
How does launching a Bug Bounty Programs help secure the company?
Launching a Bug Bounty programs secures the company in many ways.
It helps to identify each and every single bug on a large-scale-organisation is nearly impossible since developers are constantly updating new features on the company’s website and mobile applications which can have minor bugs.
With the help of launching a Bug bounty program, the company need not require to hire a special team to identify and fix bugs on the platform.
The company also gets the privilege to fix the bug sooner since the bug hunters are specialised in identifying such issues. So the time taken to fix bugs is dramatically lower than ever.
The company only needs to pay the reward when the bug is found valid. This helps the company to save more money since the payout depends on the bug’s severity and how it affects the end user.
Ultimate control remains in the hands of the company itself, due to which the company can decide the amount they are willing to pay for the severity of the bug, the company can also shut or change the program as per their requirements.
How Bug Bounty Programs helps Indian Researchers/Bug hunters?
There are several benefits of Bug bounty programs for researchers and Bug hunters:
Since there is a reward on each bug being reported, the researchers get awarded good money which helps them look for High and Critical bugs since the payout on such bugs is more than Rs. 50,000, which is higher than Average Monthly Salary in India.
Bug bounty hunting is a growing market in India and many talented individuals in India are great at bug hunting.
There is no requirement of qualification or age, any individual can learn his way through bug bounty hunting and create a career in the field.
You get recognition via “Hall of Fame” provided by the company, so you can present your work to your recruiters to showcase how good you are at your job.
Bug bounty hunting is mostly done remotely, this gives the freedom to the researcher to work from anywhere around the world and hunt for bugs on different programs and the reward is received via wire transfer due to which it makes it more easy for the researcher to work at any hour of the day and any place and the reward will be credited directly to your account.
Since, India is a Developing country, people here are new at tech, due to lack of understanding in cybersecurity and privacy, they may fall under the trap of scams by providing valuable information to an attacker or in worse case the attacker can steal valuable information through the company’s application itself. By hosting a Bug bounty program, the researchers tend to remove all possibilities of data leaks, account takeover and many more cases where the users and company is affected.
Companies like Swiggy, Dukaan and Zerodha have made their platforms secured due to which their applications are safer to use than others r, this also helps the company develop competitive advantage by gaining trust and credibility that the user’s personal data is secured with their application.
By implementing Bug Bounty Programs, these companies have speed up the process of fixing major bugs in their applications. This is all possible with the help of these programs where the company gets the privilege to secure the application before the users are affected.
India also has the most safest payment portal BHIM UPI which is more secured tech than other modes of payment. This is all possible by launching bug bounty programs and skilled bug hunters.
However there are many Indian companies who still haven’t adopted the benefits of a Bug Bounty program. If more companies launch bug bounty programs the easier it will be for researchers to help the company fix bugs in their applications.
Where is Bug Bounty Programs listed?
Most companies appoint Bug Bounty platforms where there are existing bug hunters available, which are as follows:
HackerOne
Bug Crowd
Synack
WordPress Webers (Indian Platform)
Bugbase (Indian Platform)
Yes We Hack
These platforms have registered bug hunters who hunt for bugs in return for a bounty. Companies host their programs on these platforms to speed up the process of bug resolution. Any user can sign up for these programs just like you sign up on a social media platform and start your bug hunting journey.
Perks of joining Bug Bounty Platforms?
You get the opportunity to meet people who are bug hunters/researchers and learn from them how to start bug hunting, you can also collaborate with them and hunt for bugs as a team.
Article to be attributed to Mr. Sanjay Dangi, Director – Authum Investment and Infrastructure Ltd., & Financial investor to many startups.
Lately I have been reading about Pigovian taxes – the idea that carefully designed taxes can have an impact on people’s behavior. These are often sin taxes – pricing bad behavior (like smoking or gambling) out of the market making the overall social cost very high. Thinking about it, I make 10 tax proposals for next year’s budget here. I know that it’s a far-off thing and you are still recovering from the breathless media coverage of the budget presented in February. But a budget takes a lot of planning, and I want to get my ideas in early.
Fat and sugar taxes aim to make a society healthier by taxing fatty and sugary foods extra. They have been tried in many countries with various levels of success. In India, Kerala has been the first (and so far, only) state to introduce such a tax, at 14.5%. With some studies showing obesity and diabetes rising in India, it is time to introduce this tax countrywide. Weaning people off excessive fried foods will not only reduce medical bills, but also save foreign exchange on imported palm oil (prices of which have skyrocketed this year). Ditto for sugary drinks and festival sweets.
Doubling GST on Loudspeakers
Recently there has been a lot of noise pollution about the noise pollution caused by loudspeakers. But we Indians love our noise – from deafening DJs at weddings to raucous processions. Banning loudspeakers will only put additional burdens on the overworked police. I instead propose that the 28% GST and 40.8% customs duty on loudspeakers be doubled – or even raised to 100%. The extra money can be used to hire more police, making our streets safer.
3 AM on our roads attracts a certain class of idiot – who either on his baap ka paisa or on udhar, buys a premium bike for racing and doing stunts. Somehow, they think that waking everybody up will impress girls. A Hayabusa will cost them more than a kidney, while a perfectly useful bike like a CD100 is beneath their contempt. A 30% tax will probably not deter them, but might pay for the government to install sound barriers on major roads.
A 10% Suit and Tie Tax
In 2009, Bangladesh banned suits and ties. They are ridiculously unsuitable for tropical weather like ours. People who wear them have to keep the AC on all day, and pour liters of deodorant on themselves. Both increase our petroleum import bill. To make matters worse, most of these are ill-fitted to our paunches as well. A 10% tax will curb the wearing of these suits, and offices can spend less on electricity. Those who do pay the tax will contribute to paying our oil import bills.
A 20% Congestion Taxes
American cities have been built around the car – with wide roads and ample parking. European and Asian cities, many of which are centuries old, were built around pedestrians with narrow streets and congested buildings. With greater prosperity, Indians have filled their cities with cars, so even the smallest towns today have traffic jams.
Many European cities have imposed congestion taxes and generally succeeded in freeing up the roads. We need to reclaim our cities for our communities and make travel easier for all. Congestion taxes also help pay for public transport – which we need a lot more of.
A 100% Great Indian Wedding Tax
Mehndi, sangeet, phere, reception, bidaai and countless other wedding-related functions keep our people away from workplaces for several days at a time. They also cause families to ratchet up huge expenses, often going into debt. This is simply because of peer pressure and keeping up with the Joneses.
I propose a 100% tax on weddings that exceed INR 1 lakh in expenses. Those who can’t afford them will have simpler weddings which are good for us all. Those who can pay for them will enrich public coffers. Many states have schemes to help poor women get married, and these taxes can help fund those schemes.
A 20% Glass Building Tax
Studies have shown that buildings with glass facades increase local heat and are contributing to climate change. The sun’s heat is reflected off the glass, so the building itself is not heated. But on a street full of buildings like these, the heat is trapped on the street, making a summer day unnecessarily hotter. These buildings also need to be air-conditioned because of the lack of ventilation, which causes a huge increase in their carbon footprint. Lastly – and this is my subjective opinion – these buildings are ugly.
A tax proportionate to their carbon footprint will make sure that the government has money to pay for offset measures. It can also help fund architectural research into alternatives that are more aesthetic and sustainable.
A 100% Fairness Cream Tax
I would daresay this is self-explanatory. Our daughters should not be hurting themselves because boys have been taught to expect gori-chitti brides.
A 28% Dog-walking Tax
More than dogs today, dog-walkers have become a status symbol. What productive employment this gives to young men and women, I have no idea. I propose that dog-walking be brought under GST at 28%, in the hope that it will make people walk their dogs themselves and thus get some exercise.
A 15% Adjournment Tax
Tareekh pe tareekh is how most people will describe our justice system. Here’s a small idea that may help to reduce the 44 million pending cases in India. Every time a lawyer asks for an adjournment, they must pay a tax on their fees, that they cannot pass on to their clients. Judges may waive the tax if they feel the adjournment requested is legitimate. This might incentivize both bar and bench to wrap up cases quickly – and help pay for hiring more judges in our understaffed courts.
Conclusion
Will taxation solve all the above problems? Not by itself. Daru-cigarette taxes have been around for decades – and work only partially. Governments have learned through multiple experiments that outright prohibition only cause people to buy tobacco and alcohol illegally – often causing ‘hooch tragedies’. However, such ‘bad behavior’ taxes are a more democratic way of bringing social change in a country that bans things at the drop of a hat, or enacts draconian laws that often backfire. Taxes preserve people’s ability to choose – even if it is bad for them. They make things look bad, but don’t criminalize the people who do these things. True social changes need public awareness and participation – and such taxes can help fund these campaigns.
There’s another benefit – both state and union governments can wean themselves off fuel taxes and give some relief to the common man. This is at a time when oil is taking a keen interest in USD 200 per barrel, and the public is looking for some relief from inflation.
The article is contributed By Pranay Jain, Founder & CEO, BodyFirst
Food and nutrition were formerly exclusively of interest to fitness and health-conscious individuals. For many years, the idea of fitness was limited to enhancing one’s appearance through gym memberships. In the last two years, the Covid-19 pandemic has gradually redefined the concept of healthy living and emphasized the need for immunity boosters and supplements. What, when and how individuals eat are becoming the main themes of discourse in contemporary culture. The post-pandemic period is now experiencing an increase in the number of persons benefiting from different health and nutrition products, which corresponds with the increase in the adoption of a healthy lifestyle.
The numbers from before the pandemic illustrate this pattern. The Indian gyms, health and fitness industry expanded by 11% between 2016 and 2020, with over 71,000 new fitness and health apps being reported by analytics firm App Annie during the same period. Consequently, fitness app downloads have increased by 156%, which translates to 58 million new active users in 2020. Even before the Covid disruption, the nutritional and fitness startup space had interpreted this opportunity to serve the rising number of health and fitness enthusiasts as a result of this shift.
Influence of the Pandemic on Placing a Premium on Health and Nutrition
The pandemic underlined the need for proper diet and physical activity. By emphasizing health and nutrition, the necessity to battle chronic illnesses such as diabetes, hypertension, stress, and anxiety has become a priority. A fresh emphasis on adopting a healthy diet has finally resulted in enhanced productivity, discipline, and an active lifestyle. By adopting a healthier lifestyle, one’s prospects of overcoming unforeseen illnesses are greatly improved. This idea has contributed to the expansion of health and fitness apps while boosting the consumption of nutritional and health supplements.
Wearables Add Flexibility to Accomplishing Fitness Goals
In the last five years, fitness wearables have been at the forefront of an industry-wide transformation, empowering their users to maintain their physical health and mental agility. These devices are no longer only data measurement accessories but are integrating data and usage metrics with other smart exercising devices, fitness and diet training apps, and mindfulness activity trackers. Startups are leading the way in bridging the gap between reality and fitness goals by digitally aiding their customers, regardless of their actual location, to meet the required activity or exercise goals. Virtual fitness experiences contribute to the novel aspects of the technology that are rapidly establishing a quantitative and qualitative benchmark for actual transformation. These creative solutions have already created the groundwork for accomplishing fitness objectives, using a mechanism and method that are both adaptable and achievable.
Partnerships With Fitness Centres and Corporate Wellness Initiatives
Fitness and wellness firms have traditionally leveraged corporate partnerships as a growth strategy. However, the post-pandemic emphasis on fitness and nutrition has expanded corporate interest. This integration assists companies with benefits, health insurance programs, and employee fitness initiatives to manage workplace stress and enhance employee wellbeing. These holistic wellness initiatives provide workers with seamless integration and usher in long-term health advantages for the organisation. In addition to organizing random and tailored fitness events for intercompany participation, fitness brands also promote the adoption of fitness and weight management programs by hosting random and customized fitness initiatives.
Ingredients are foundational to health and nutrition products and these are witnessing a surge in popularity among fitness enthusiasts. The emphasis on product orientation and specialization is one of the most important marketing techniques used by fitness brands. Most fitness brands provide health and nutrition items that are loaded with multivitamins, vital minerals, omega-3 fatty acids, and other supplements. Multivitamins, essential minerals, Omega 3 supplements, and probiotics are, thus, some of the most prominent fitness and nutritional ingredients.
Increased product awareness among the consumers has shifted the spotlight to brands that emphasize innovative ingredients in their products. This strategy is reflected in the approach in which customers choose brands that are transparent about the relevance of product ingredients in achieving their fitness and wellness goals. Nutrition experts and fitness coaches are more likely to promote brands, whose products are based on scientifically validated and properly researched ingredients. Products capable of bridging the protein deficiency gap by restoring the adequate nutritional balance in the diet will ultimately gain more acceptance and adoption among fitness enthusiasts.
Brands Focusing On Garnering High Product Reviews With Satisfied Consumers
Products that are high on reviews are expected to gain prominence as they are referred by satisfied consumers with word of mouth strategy being a strong driver across sectors. Fitness startups are introducing a diverse product line that is superior to market offerings and strives to promote health and educate customers to enable wise and healthy decisions. Multivitamins, essential minerals, Omega 3 supplements, and probiotics are among the most popular fitness and nutritional products. These innovative products utilise ‘enzyme technology’ which helps break down protein efficiently and enables the body to maximize the absorption of amino acids. This breakdown of whey protein into its smallest components avoids any digestive discomfort and caters to consumers who advertise the product among their circle of influence. Catering to consumer’s convenience, these products are also becoming travel friendly and are being made available in compact and ‘mini’ travel sachets to help consumers maintain nutritional requirements while travelling.
Today’s constantly changing consumer preferences have been addressed by emerging technological advancements that will continue to influence the fitness industry’s growth trajectory. In conclusion, these rising opportunities to address customer needs will help startups redefine their approach with innovative growth strategies.
The article is contributed by Nilesh Ghule, Co-founder and CEO, TruckBhejo.
Over the last two years, primarily because of the pandemic, and deeper internet and mobile phone penetration there is an unprecedented surge in online shopping. As a result, the e-commerce market has boomed and is estimated to reach USD 200 bn by 2026, according to Inc42’s e-commerce report. It has also led to the growing popularity of the Direct to Consumer (D2C) business model.
Alongside this boom, a Mordor Intelligence report underlines that driven by the growth of manufacturing, FMCG, retail, and e-commerce, the Indian Third-Party Logistics (3PL) market is expected to register a CAGR of over 11.5% during the forecast period of 2020-2025.
This growing synergy between D2C brands and logistics providers is driven by the need for greater efficiency and speed with customers setting delivery deadlines that are shrinking every day, from 24 hours to 10 minutes. ‘Express Deliveries’ is the buzzword today, and with this in mind, Indian businesses, like their western counterparts, are slowly making the transition from horizontal to vertical integration.
Bottom-line over top-line
Earlier, the business strategy favoured the takeover of rival companies and the development of in-house facilities to expand in size and assert market dominance. Today, with the bottom line taking precedence over the top-line, and efficiency outscoring effectiveness, D2C brands are seeking third-party services to combat competition.
D2C as a business model relies on three important aspects namely core product, online selling experience, and offline fulfilment experience. It is in the third, the last-mile delivery stage, that tech-based logistics platforms are coming into play with the guarantee of delivering products in the most time and cost-effective manner through increased digitization and automation.
Tech-ing the shortcut
Just like robotics and sensors have streamlined operations in the warehouse, drones and driverless EVs could well revolutionize e-commerce supply chains in the future. For now, AI-driven tools like the Internet of Things (IoT), advanced algorithms, blockchain, and data analytics can be incorporated into operations to optimize routes, circumvent delays, and reduce empty miles.
TruckBhejo has, in just five years since its inception, shipped over 2 million tons, completing one million deliveries by leveraging technology. It even managed to satisfactorily complete a monthly order of 50,000+ products for an e-commerce major to meet increased demand during the festive season.
Tracking deliveries
With customers raising the bar every day, the buck doesn’t stop at speed. It demands reliability and transparency too. The customer expects personalized communication via text and email to stay connected with the product from the time it leaves the warehouse till it reaches their doorstep.
Here again, tech-based 3PL players can provide great customer satisfaction through real-time updates that help them track the product right down the supply chain. Even if there’s a logjam, they are as much in the know as the supplier and transporter. This kind of visibility helps build brand loyalty which is imperative in a crowded market.
The road logistics market in India is expected to reach USD 330 billion by 2025, according to the ‘Inter-city Logistics Market Study’ by RedSeer. However, to ensure a seamless run, logistics tech aggregators need to come up with customized solutions to cater to clients who come in all shapes and sizes, demanding local, pan-India, and even global reach.
One way to do this is through smart packaging. Standardization in the size of the items and choice of packing material, with thermocol sheets and bubble wrap replacing bulky plywood or fragile glass cases, can bring down the burden of warehouse and transportation costs and scale up the volume of orders.
Plan for the future
The Indian logistics sector has one of the highest transportation costs at 14% Gross Domestic Product (GDP). The good news is that the government has come to its aid with the PM Gati Shakti—National Master Plan launched by PM Narendra Modi. Its aim is to break departmental silos and bring in more holistic and integrated planning and execution of projects with a view to addressing issues of multi-modal and last-mile connectivity. With better infrastructure, digitization, and pan-India mobile and internet connectivity, 3PL players can speed up their operations, helping D2C brands to thrive and grow.
Conclusion
While there is a steady growth in D2C business model adoption and e-commerce business, it is imperative for the companies to team up with the logistics players to ensure success and sustainable growth. A good logistics partner with tech-enabled solutions like TruckBhejo can provide unparalleled customer experience through speedy deliveries, timely status updates, and accommodating last-minute requests. Tech-led startups are adding immense value to the D2C brands by putting the technology into the use case and making various smart tools available to the customers. This “best match on the expressway” is ultimately ensuring delivery of not just the goods, but also of the customer experience and satisfaction.
The article is contributed by Shivaani Jain – Co-Founder, TAGGD
In this age of ‘new kind of fashionable’, it’s no longer uncool to sport homegrown labels. Back in 1991, the Indian economy opened doors and flooded the market with foreign goods. These were mostly lifestyle brands that Indians had long heard about, but never got to sample. Liberalisation also created the conditions for—maybe even inspired—indigenous creators to later prosper at home and also abroad.
More than 30 years later, from those watershed weeks and months, Indian fashion designers – to name just one creative niche – are now making waves, among local as well as international clients. Once restricted to those with money to spend, fashion has become democratised as it has penetrated non-metropolitan India. And because it is online, it is widely available, accessible and affordable. No wonder it is being endorsed and embraced by millions who reside off the beaten metro track, who crave the same apparel and attire – casual, formal and informal – as their megalopolis-living counterparts, and also the same comforts and indulgences.
Indeed, the bigger transformation is happening outside of Delhi, Mumbai, and Bangalore. Today, it is small-town India – small in size but certainly not in aspiration – that is shaping the India of the future, in terms of what it buys and even the lifestyle trends to come. So, what a Moradabad, a Coimbatore, a Nasik and a Cuttack thinks today, India will likely think the same tomorrow.
The changing face of lifestyle
This is not entirely unexpected, but it has been hastened by COVID-19, a process quickened by families being confined indoors and thus relying on e-commerce to take care of their desires as much as their needs. The pandemic brought home to us that life indeed is short, and we might as well make the most of it while we’re at it. So, if wearing that funky outfit, or that sexy one-piece (designed by one of us) allows us to feel good, why not indulge?
Unsurprisingly, it’s the digital revolution that has made e-commerce accessible to Tier 2 and Tier 3 markets, thanks to the government’s Digital India initiative. This has enabled fashion and other brands alike to target the country’s non-metro towns and cities as future growth areas while giving the clientele here options besides the tried-and-tested names, and the opportunity to stay in touch with the latest trends in the fashion domain.
Because, when it comes to fashion, brands and collections are the same almost everywhere, and online shoppers are not guaranteed any exclusivity when they go looking to add to their wardrobes. Hence, now, they are more than willing to try out – and accept – labels that don’t come with the big-city tag, and to experiment with brands that are new to the market, and of which little is known.
In fact, the very thought of helping homegrown brands from locations off the fashion radar, in towns and cities away from the major urban centers, has empowered patrons in these places to own and wear such labels with pride. And while the brands may lack the staying power and cachet of the top-of-the-line labels, they do understand the power and magic of digital. So, assisted by on-off lockdowns and a population habituated to virtual shopping, they are evolving by adapting to the digital savviness of the consumer as well as the changing face of the industry.
The success of homegrown brands has been further driven by the ubiquity and high impact of influencers. Alongside, the rise of influencer marketing has given small-city youth a platform to leverage their presence on social media and earn a decent living. Fashion offers rewards as much as it lifts spirits and boosts confidence.
The well-heeled and well-travelled may still opt for high-street chains such as Zara, Marks & Spencer or H&M (among many others) but a growing number of Indians are much less hung up about the ‘name’ than their predecessors once were. And the reason behind this change is the fact that there are many more indigenous designers and labels out there, a majority of them boasting creations of great standards, and more than capable of giving British, European and American brands a good run for their money.
Moreover, these made-in-India brands are nowhere near as overpriced as some of their international counterparts are. In fact, they are very reasonable on the average middle-class pocket, offering fashion and lifestyle that is affordable for you and me.
The metros may be where all the action is, but hidden from the eyes of many metro denizens is what’s happening in India’s Tier 2 and Tier 3 cities. Already, girls and boys from these urban spaces form a sizeable chunk of service economy across the country. This is a demographic that is growing, and it is one that will constitute a greater part of the workforce of tomorrow’s India. And, as their profiles grow, so do their ambitions. These confident Indians seek nothing but the best—in clothes and accessories, in gadgets and cars, in holidays and experiences.
There are e-commerce marketplaces and e-retailers successfully catering to and answering this swelling demand. Yet, while women’s wear and menswear might make up the bulk of the sales, Mrs and Mr are just as interested in jewellery, cosmetics and home décor—and when it comes to clothes, their junior or teen daughters and sons don’t want to be left behind.
It really is a whole new ecosystem – of hip and homegrown fashion and lifestyle brands, and their customers who are looking to keep themselves up-to-date with the latest trends. And in this ecosystem, the fashion influencers are key facilitators, playing an important role by sharing styling ideas and tips—to bring out the best in you, to make you look good.
Thankfully, gone are the days when fashion in India was a preserve of the elite and the wealthy, and that is surely for the better. Because its increasing inclusivity has exposed the majority of Indians to lifestyle choices they never had. It’s of little surprise, then, that homegrown brands are making a beeline for Tier 2 and Tier 3 cities, for it is here that cash registers are ringing at their loudest. When it comes to fashion, there’s no more happening place in the country than the small-town India of big dreams.
The article is contributed by Pankaj Gupta, Founder and CEO, EnableX.io
The Indian SaaS industry is now firmly on the upward growth trajectory. As per the Zinnov’s Punching Through The Global Pecking Order report, in 2022 alone, the Indian SaaS industry saw a whopping 50% rise in revenue and a 3x increase in VC funding. This makes it abundantly clear that the country’s SaaS ecosystem has finally come of age. While the market is growing at breakneck speed, building a successful SaaS business is not easy. Like any business, it takes time, effort & a lot of innovation to scale a business in today’s ever-evolving environment.
Launching a SaaS company involves many steps, which can be daunting for first-time entrepreneurs. Let’s go over the process of getting your software business started:
1. Getting an Initial Set of Clients
No matter what industry you’re in, every founder has the same burning question: “how will I get my first 10 customers?” The best way is to start with your existing network. It’s low-hanging fruit. Talk to the people you know. It may not yet be a big number, but in the process, you may find a few relevant connections among your friends and family. And don’t get disappointed if none of them is directly interested in using your service; they might refer to somebody who may need it.
You’re off to a good start if your product addresses a pain point or fulfils a burning need for someone and does it better, quicker, and/or cheaper than its competitor. Here are the following things that can be helpful:
Build a Quality Product
The success of a business depends on how well you understand the market needs and then build a product that addresses the users’ needs or problems. Therefore, spending some time and resources to understand customers’ requirements is fundamental & key to success. Once you’ve established a product-market fit, you are on the right path.
Be Agile
Change is the only constant, and this maxim is truer for SaaS companies. The business landscape is changing so fast that it may become obsolete by the time your product hits the market. Agility is not just about the product features; it includes everything – IT stack, business model, and culture. It should be nimble and should be able to respond faster to remain competitive. Therefore, it is essential to have a keen eye on the changing market landscape, evolving customer preferences, and competitors.
Establish Robust Customer Support
It might sound a cliché, but your customers are the heart of your business. Apart from the product quality, they always want to know how fast their problems can be resolved satisfactorily. Therefore, build robust customer support service that enhances the overall customer experience.
Even if you don’t have the financial muscle to put a 24*7 customer support team, there are many options. You can use Twitter and Facebook to provide quick support. You can also implement a ticket system to manage the support request or can put a well-defined FAQ page/User Guide on the website.
3. Building a Team That Delivers
It is essential to have a clear vision, commitment, and sincerity to realize your vision as a founder. You must believe in your product and have a clear roadmap of how you want to take it forward. And most importantly, you need to build a competent team that can help realize your vision. While hiring people, pay attention to skills, but it should not be the sole factor. Along with qualifications and skills, hiring people with a growth mindset, the right attitude & cultural fitment are key. Also, be extra careful while building your initial team as these are the set of people who are more likely to stay with the company for a long time. They should exhibit a clear commitment and drive to achieve something and excel in their work in a fast-changing environment.
4. Staying Abreast with Trends
As a founder and also your team members should be fully aware of what’s happening in the industry and what’s hot in the space. And of course, keep an eye on the competition. Know what your competitors are doing, what features they have built & what is their overall strategy. Keep tracking industry trends, technology and other news items pertaining to your industry. Networking with other startup founders, and attending industry events and peer groups is the best source to have a sense of what is happening in the environment around you!
Building and sustaining a SaaS business can be exhilarating and overwhelming at the same time. Though there are many steps to take before you can even start thinking about making money from your SaaS business, the points discussed above are crucial to starting right!
What happens when a public company goes private? Why would a publicly-traded company make that decision? What are its options once it does? It’s difficult to know how to answer these questions if you have no background information on the subject. To help you get some insight into what happens due to these transactions, we’ve collected seven pointers about going private and provide some insight into what happens due to these transactions. Hopefully, this guide answers your questions and helps you understand what happens if a publicly-traded company decides to pursue another route.
No. of Companies listed on Stock Exchange in India
Once a company goes private, it’s removed from the stock exchange. Investors will no longer be able to purchase or sell shares in the company through a major stock exchange.
The company’s management team may still hold on to some of their shares, which they may sell in the future for a profit. But for most investors, this is the end of their involvement with the company.
The company’s shares are withdrawn from the stock market
When a publicly-traded company goes private, its shares are withdrawn from the stock market. This is a major shift for investors, who are used to seeing their investments on display on the stock exchange.
Management often decides to go private, but investors can also initiate it. In some cases, an investor may buy out other shareholders and control the company. In other cases, multiple investors pool their resources and buy out existing shareholders.
Existing Shareholders get paid
When companies go private, their shareholders can receive various payout options. These include:
Cash payments to each shareholder are based on the number of shares they own. The payout can either be in one lump sum or spread over time.
Stock in a new company is formed when the parent company goes private. This stock could pay dividends or be sold for cash later.
New shares in the parent company that’s going private. Once those shares become publicly traded again, it’s possible for investors who hold them to make money off their original purchase price or by selling them at some point down the line.
The company no longer releases financial statements to the public
Once a company goes private, it no longer releases financial information to the public. This means that investors who had previously owned shares of the company in question will no longer have access to any information about its finances or performance. However, this does not mean that the company goes completely dark: companies can still be purchased and sold by other companies using private transactions, which means that their financials are still available to their owners.
The only major difference is that these transactions are not recorded on any stock exchange. Instead, they must be reported to regulatory bodies such as the Securities and Exchange Board (SEBI), allowing them to track how many outstanding shares exist within the private sector.
Fewer regulatory requirements and obligations
By going private, a publicly-traded company no longer has to deal with the many regulatory requirements of being a publicly-traded company. These include:
Annual reports: are required for publicly-traded companies and must be submitted to the SEBI.
Audited financial statements: audited financial statements must be submitted to the SEBI for publicly-traded companies. This requirement helps ensure that investors access accurate information about their investments.
Required disclosures: publicly-traded companies must disclose information about their operations and management team to the public via annual reports and other filings with the SEBI.
Corporate governance: corporate governance refers to how businesses are run internally—for example, whether shareholders have voting rights over key decisions made by management, or who sits on boards of directors at large companies.
Less capital available
The reason for this is simple: a public company must disclose its financial statements, which means anyone can access them. This is great for investors who want to get in on the action and make money from their investments. Still, it’s not so great for companies that want to be able to keep their financials secret to protect proprietary information or avoid scrutiny from government regulators.
By going private, companies can keep their financials under wraps and more of their profits for themselves!
A public company that goes private no longer has to contend with quarterly pressures.
Public companies are accountable to their shareholders, who demand that the company generate quarterly revenue and profit. These demands make it difficult for companies to focus on long-term goals, often leading to short-term planning and poor decision-making.
Private companies have more freedom: they can focus on their long-term goals without worrying about those pesky quarterly reports!
More flexibility
When a public company goes private, it gains more flexibility in its operations. This means that the company can make decisions that may be unpopular with investors but which are better for the business’s long-term health.
For example, a public company might cut costs to boost profits and increase shareholder value. This could involve layoffs or outsourcing certain aspects of operations. However, when a public company goes private, they no longer have to worry about shareholder concerns and can focus on what is best for the business as a whole.
There is a lot at stake when a public company goes private.
So there you have it, folks. That’s what happens to a company when it goes private. Of course, this article is only meant to be a general overview of the process. It may be worth learning more about private equity firms and the going-private phenomenon in general; then, you should do further research on those topics.
This post’s subject can be applied to almost any situation involving a significant change in company ownership and structure. While there are many options that can be pursued when taking your company public or private, keep in mind the information above: timing and valuation matter. If you’re ready to make the leap, talk to an investment banker or investment broker/advisor, they can help!
FAQs
What is privatization in public sector?
Privatisation of public sector means the transfer of ownership, management, and control of the public sector enterprises to the private sector.
Which sectors are privatised in India?
The sectors privatised in India are:
Atomic Energy
Space and Defence
Transport
Telecommunications
Power
Petroleum
Coal and other minerals
Banking, insurance, and financial services
What happens if public company goes private?
When a Public Company Goes Private:
The company is removed from the stock exchange
The company’s shares are withdrawn from the stock market
Existing Shareholders get paid
The company no longer releases financial statements to the public
Which are the public companies that went private?
Some of the popular public companies that went private are:
There are a lot of negatives associated with the word “Black” when asked, “what does it stand for?”. For a very long period, people of colour and the black community have been misunderstood to a point that they at times feel apologetic for being black. There is a lot of frustration with the violence, racism, and underrepresentation faced by people of the Black race simply because they are Black.
There are powerful leaders like Malcolm X, Muhammad Ali, Martin Luther King Jr. and many more from the black community who, even when faced with struggles, barriers, misconceptions, racism and other problems have continued to show what it means to be black and proud.
Their work and identity reflect and continue to empower the community and give them the representation that is needed. Let’s look at the top black CEOs of America. These powerful people have shattered barriers and created role models for people of colour to look up to.
It is the 21st century and discrimination still persists. In general, black people are not promoted to leadership positions as often as others are. Only four CEOs Roz Brewer, Thasunda Brown Duckett, Marvin Ellison and René Jones made it to the list of leading Fortune 500 companies in the year 2021. One of the most talked-about CEO this year Elon Musk’s Tesla was ranked at the 100 in 2021.
We have curated a list of the black CEOs that have been successful in leading some of the top organizations working in industries as diverse as healthcare to consumer goods. Besides rescuing businesses that had their heads above water in diverse industries, these leaders have created space for inspiration for their community in the USA.
Here’s a list of the top 10 Black CEOs in America
1. Muhga Eltigani
Founder & CEO: NaturAll Club
Headquartered in: Philadelphia, Pennsylvania
Term: 2015 – Present
Industry: Consumer Goods
Muhga Eltigani, Founder of NaturAll Club
Being excited about how women are leading from different dynamics and emerging as leaders in today’s society, Mugha said:
I want to be a part of that. And I want to give back.
Her passion for helping the community love and inspire itself is one of the things that drives her to keep at it. She graduated from the University of Pennsylvania with a Bachelor of Arts in International Relations; African Studies, and Religious Studies, Muhga Eltigani is a Founder/Chief Executive Officer at NaturAll Club.
NaturAll provides a subscription-based service that aims at promoting clean beauty standards with hair products that are freshly made using ingredients such as avocados, bananas and coconut crème. These ingredients are found to help hair become healthier. The products can be customized according to the person’s hair care needs.
Having a conflicting relationship with her hair, she was inspired by the homemade products of African women while interning in Ghana and visiting family in Sudan. Mugha began experimenting with natural ingredients in her own hair when she decided to embrace the idea, and later shared these recipes on her YouTube channel.
Let go of her law school, making the move to build a startup with co-founder Sam Roberts, pooling in her own personal savings for the NaturAll Club. She has been an active member of various societies including Sphinx Senior Society, Onyx Honor Society and Sigma Loto Rho.
Achievements of Muhga Eltigani
Eltigani has been honoured by Forbes 30 Under 30, Inc. Magazine’s 30 Under 30 in Business, Business Insider, and Essence and received awards that include:
Stephen Wise Award (Office of the Chaplain at Univ. Of Pennsylvania—April 2014)
Human Rights Award (Jubilee School – May 2014)
Sigma Iota Rho (International Relations Honor Society)
Black Alumni Association Student Leadership Award (University of Pennsylvania, April 2014) (Academic Year 2012-2013; Summer 2013) Sphinx Senior Society
Foreign Language and Area Studies Award
Onyx Senior Honor Society
2. Oprah Winfrey
CEO: Oprah Winfrey Network (OWN)
Headquartered in: Los Angeles, California
Term: 2011 – Present
Industry: Entertainment
Oprah Winfrey, Founder and CEO of Oprah Winfrey Network
The biggest adventure you can take is to live the life of your dreams – Oprah Winfrey
Oprah Winfrey has achieved it all, from writing a book to hosting her own talk show. She is an actress, producer, publisher, innovator and philanthropist. But just in case it escaped your notice, she is also the CEO of the successful cable networkOprah Winfrey Network (OWN).
OWN is a joint venture between Harpo, Inc. and Discovery Communications. It was available in 85 million homes when it launched on January 1, 2011. Inspired by the iconic leader herself, she attracts superstar talent to join her in prime time, building a global community of like-minded viewers and leading that community to connect on social media and beyond.
According to a Forbes report for 2020, it was estimated to be 37 million. The net worth of Oprah Winfrey as of 2022 is 3.5 billion dollars.
The global media leader has been involved in various activities, volunteering for the Oprah Winfrey Leadership Academy Foundation and Angel Network.
Achievements of Oprah Winfrey
Oprah has received the following awards for her work:
Academy Award for Best Supporting Actress: The Color Purple: Nominated (1986)
Won Jean Hersholt Humanitarian Award in 2011.
Was awarded the Presidential Medal of Freedom in 2013.
Academy Award for Best Picture: Selma: Nominated (2015)
3. Dr Tony Coles
President, Chairman, and CEO: Cerevel Therapeutics
Headquartered in: Cambridge Massachusetts
Term: 2018 – Present
Industry: Pharmaceutical manufacturing
Tony Coles, CEO of Cerevel Therapeutics
Dr Tony Coles is the CEO of Cerevel Therapeutics. He has also worked for the following organizations in the past as the CEO:
Ex-CEO of TRATE Enterprises, LLC
Ex-CEO of Yumanity Therapeutics
Ex-CEO of Onyx Pharmaceuticals, Inc.
Ex-CEO NPS Pharmaceuticals, Inc.
Dr Tony Coles has earned the following degrees:
B.S. degree from Johns Hopkins University in Baltimore, Maryland
M.S. degree in public health from Harvard University in Cambridge, Massachusetts
And his M.D. degree from Duke University in Durham, North Carolina.
Before working for Cereval Therapeutics Dr. Cole has also worked with, ACE inhibitor drugs, LLC, Merck & Co., Onyx Pharmaceuticals, TRATE Enterprises, Vertex Pharmaceuticals, and Yumanity Therapeutics.
Cerevel Therapeutics operates as a clinical-stage biopharmaceutical company, which was formed through a partnership with Pfizer and Bain Capital in the year 2018. The company incorporates an understanding of the biology and neuro circuitry of the brain with advanced chemistry and central nervous system (CNS) receptor pharmacology. To help discover and develop novel therapies focusing on neuroscience diseases. The pharmaceutical manufacturing company has its funding from Crunchbase itself.
Tony Coles is an active member of multiple communities and national organizations, such as:
The board of trustees at Johns Hopkins University and Johns Hopkins Medicine
NPS Pharmaceuticals, Inc.
The Smithsonian’s National Museum of African American History and Culture
The board of trustees for the Metropolitan Museum of Art in New York, and the Council of Foreign Relations.
Tony Coles is a director at:
Campus Crest Communities, Inc.
Laboratory Corporation of America Holdings
McKesson Corporation, and Regeneron Pharmaceuticals, Inc.
Paralympic Foundation
The U.S. Olympic
4. Robyn Rihanna Fenty
Founder and CEO: Fenty Beauty and Clara Lionel Foundation
Headquartered in: San Francisco, California
Term: 2017 – Present
Industry: Cosmetics
Rihanna Fenty, founder and CEO of Fenty Beauty and Clara Lionel Foundation
“It’s important for me to know who I am. There’s no way for people to know me.” – Robyn Rihanna Fenty
Born in Barbados in 1998 Rihanna has a history of a rough past with her parents’ divorce. In her teens, she enjoyed making music with her classmates and was eventually introduced to record producer Evan Rogers by her friends.
Travelling to Connecticut to work on her four-song demo album that included “Pon de replay” which later became her first hit single. Impressed with her singing skills Jay – Z collaborated with her on one of her other albums Music of the Sun which became platinum. Since her career took off Rihanna has been on a successful journey. She is an actress, a singer, a businesswoman and a mom.
The makeup line that was launched by the fashion, music and beauty icon: Fenty Beauty is very well known. Riris’ cosmetic brand was launched with the aim of inclusivity inspired by her personal style, which has made her a billionaire. Rihanna is the founder and CEO of Fenty Beauty.
Since the launch of the brand, it has become a label for disruption of the market and expansion into other domains as well through collaborations. This includes Fenty Beauty, Fenty Skin, Savage × Fenty.
She has also been involved in charity work. She started to honour her grandparents, and she is the founder of the Clara Lionel Foundation which supports health and emergency response programs and effective education around the world. One of her most recent investments includes Destree.
Achievements of Rihanna Fenty:
Being listed as one of theTop 100 Most Influential People by Time magazine.
Became the Creative Director for the brand Puma in 2014.
Winning 9 Grammys, 12 Billboard Awards, and two BRIT Awards.
Expanding her brand from Fenty Beauty, Savage × Fenty, and Fenty Skincare.
5. Marvin Ellison
Chairman, President & CEO: Lowe’s
Headquartered in: Mooresville, North Carolina
Term: 2018 – Present
Industry: Retail
Marvin Ellison, CEO of Lowe’s
“One of our core behaviors is to show courage, and I ask you to demonstrate that by raising opportunities that need to be addressed.” –
Lowe’s continues to fulfil its commitment to improving the homes and businesses of homeowners, renters, and professionals. It has grown from a small-town hardware store to one of the largest home improvement retailers around the globe. The company has more than 2,200 stores and approximately 300,000 workers in the USA and Canada and generated revenue of $96.3 billion in 2021.
Before joining Lowe’s Marvin served as chairman and CEO of J.C. Penney Co. He is also the first African American to be President and CEO of two Fortune 500 companies.
His early life was marked by poverty and the limitations of living in rural and impoverished conditions. Despite these challenges, he majored in business at the University of Memphis. Juggling odd jobs, he managed to pay for his tuition fees.
Graduating with a Business Administration degree in Marketing and later earned his MBA at Emory University in Atlanta, Georgia. He built his career in retail. He has worked for Target, Home Depot, Global Logistics, and JCPenney.
After leaving JCPenney, he joined Lowe’s and became CEO in 2018. The result of his leadership was an increase in the stock price of the company and its ranking on the Fortune 500 list of America’s 500 largest corporations by revenue.
The committees Marvin is a member of:
FedEx Corporation, Board Member
Retail Industry Leaders Association, Board Member
The University of Memphis, Board of Trustees
The Business Council
Marvin with his wife Sharyn is committed to serving within their faith and communities. Mainly through the support of organizations that promote higher education, self-empowerment and excellence for minority youth.
“Dreams do come true, but not without the help of others, a good education, a strong work ethic, and the courage to lean in” – Ursula Burns
Known as among the first black women to be a CEO and succeed as the head of a Fortune 500 company. Born in New York and raised in a low-income housing project in Manhattan Ursula was raised by a single mother.
She obtained a bachelor of science degree in the field of Mechanical Engineering from the Polytechnic Institute of New York University in Brooklyn and a Master of Science from Columbia University. She joined Xerox as a summer mechanical engineering intern and later became a full-time employee there.
She was appointed as the CEO of Xerox Holdings in the year 2010. She led the company to success, turning it into a valuable business. In 2015 the company generated $18 billion in revenue. She stepped down from the position of the company after Xerox was split into two publicly traded companies: Conduent and a newly created Xerox.
Xerox Holdings Corporation is a holding company. The Company provides printers, scanners, supplies, and accessories through its subsidiaries. The company also serves the health care, insurance, government, and retail sectors across the globe. Xerox had previously focused only on document technology, for which Ursula was named as chairwoman, a $1 billion division.
Achievements of Ursula Burns:
Serving as Chairwoman of VEON in 2017
Being the first African-American woman to lead an S&P 500 company.
Being a founding member of Change the Equation, a CEO-led non-profit program to boost STEM education in 2010 that was launched by the Obama administration.
Being a member of the Uber board of directors.
7. Don Thompson
Former CEO: McDonald’s
CEO: Cleveland Avenue
Headquartered in: Chicago, Illinois
Term: 2015 – Present
Industry: Restaurant
Don Thompson, Former CEO of McDonald’s
Born in 1963, Chicago Don Thompson paved the way for the many firsts in the history of McDonald’s for the black community. He pursued a bachelor’s degree in electrical engineering from Purdue University in Indiana. Graduated with a defence systems job as an engineering specialist with the Northrop Corporation in the Chicago suburb of Rolling Meadows.
Starting as a robotics engineer at McDonald’s he worked for the company for twenty-three years. As he was promoted, he also became the first Senior Vice President and Restaurant Support Officer for the company in the Midwest division. As a CEO, the job definitely came with many challenges as it required constant travelling for him.
He developed innovations for the global market during his time as an executive. He made impressive changes overseeing the menu that was curated based on local markets, field operations, and more. As a result, the company’s improvement rate and success increased. Thompson served as the CEO of the world’s fastest-growing food chain: McDonald’s globally for five years, which made history.
MC Donald’s is the place that truly stands for food, folks and fun where you can unwind and spend some quality time with your loved ones over food. Be it for birthdays or breakfast, MC Donald’s has become the go-to place for people of all age groups.
Quoting on what it felt like being the CEO: Thompson admitted that he had not given much thought to the question of what it would be like to be the CEO of McDonald’s, but nevertheless grabbed the opportunity when offered the role not just for his benefit, “but for those who look like us and came up like us”.
Don Thompson served on the Board of Directors for the following companies:
McDonald’s Corporation, Ronald McDonald House Charities, Catalyst, Northwestern Memorial Hospital and Purdue University
Don Thompson is a member of the following organizations:
The Civic Committee of the Commercial Club
The Economic Club
World Business Chicago
and the Brazier Foundation
Achievements of Don Thompson
He was the first black CEO at McDonald’s in almost a century of history.
He has been listed as Black Enterprise’s 2007 Corporate Executive of the Year.
One of BLACK ENTERPRISE’s 100 Most Powerful Executives in Corporate America.
After quitting his job, he still continues to engage himself in different initiatives to empower the black community. Thompson currently is the CEO of Cleveland Avenue Foundation for Education (The CAFE) which he founded in 2014 with his wife Liz Thompson with the goal of bringing equity to the black community and breaking racial barriers. Currently, he lives with his wife Elizabeth and two children near Chicago Land.
8. Mary Winston
Former CEO: Bed Bath & Beyond
Term: 7 months
Headquartered in: New Jersey, New York
Industry: Retail
Mary Winston, Former CEO of Bath & Beyond
Winston is a well-respected leader who has served as an EVP & chief financial officer for a large fortune 300 retailer, as well as two other large companies, leading sizable financial organizations for years on large public company boards and audit committees for many years.
She is also the first black woman to head a Fortune 500 company after Ursula Burns and islisted as one of the most powerful women in corporate America.
Winston has extensive experience in all aspects of finance and accounting, as well as M&A, organizational strategy, cost restructuring programs, corporate governance/ compliance, and investor relations/communications.
This e-commerce business dealing with retail has a wide range of categories some of which include: bedding, bath, kitchen, dining, storage and cleaning and much more. Aiming at one goal: making people feel at home. In addition to this, the company fosters a culture that is diverse and equity-based, as well as customer-centric.
The corporate and retail industries are now the only industries that she has experience with; the others include retail, publishing/media, manufacturing and pharma.
Her public boards and memberships include:
Acuity Brands, Inc.
Chipotle Mexican Grill, Inc.
Dover Corporation
Achievements of Winston
Corporate Directors to Watch, Issued by Directors & Boards Magazine—Jan 2017
Most Powerful Corporate Directors Issued by Savoy Magazine, January 2016
Most Powerful Women in Business in 2015, 2010, 2006
9. Ted W Love
CEO: Global Blood Therapeutics
Headquartered in: South San Francisco, California
Term: 2014 – Present
Industry: Biotechnology
Ted Love, President and CEO of Global Blood Therapeutics
Ted Love is the president and CEO of Global Blood Therapeutics. Earned his B.A. in molecular biology from Haverford College and an M.D. from Yale Medical School. He completed his residency and fellowship training in internal medicine and cardiology at Harvard Medical School and Massachusetts General Hospital. He later served as a faculty member in the department of cardiology there.
Global Blood Therapeutics has a history of ten years of remaining committed to its goal of changing the paradigm of how SCD (sickle cell disease) is treated. They develop and create treatments for people living with blood-based disorders, starting with sickle cell disease. GBT has also developed the first drug that was approved by the FDA targeting the underlying cause of sickle cell disease rather than just its symptoms.
He has held a variety of positions in the pharmaceutical and biotechnology industries.
President, Chief Executive Officer and Chairman of the Board of Directors at the Nuvelo
Served as Senior Vice President of Development at Theravance Inc.
Worked at Genentech, Inc. holding several senior management positions
Chairman of Genentech’s Product Development Committee
He has been on the following boards:
Bio-Rad Laboratories, Inc.
Predix Pharmaceuticals, Inc.
Santarus, Inc.
Affymax, Inc.
ARCA biopharma, Inc.
The California Institute for Regenerative Medicine (CIRM) Independent Citizens’ Oversight Committee)
10. Toni Newman
CEO: Black AIDS Institute
Headquartered in: Los Angeles
Term: 2021 – Present
Industry: Healthcare
Toni Newman, CEO of Black AIDS Institute
She has earned her identity and is proud of it, facing challenges like finding herself in a world where she fought to earn it. Despite losing her family and friends’ support, employment and shelter. Toni still found the courage to continue to seek the path that was right for her. The estimated Net Worth of Toni Newman is $1 million dollars.
Toni Newman is a member of the African American transgender community. Born in North Carolina, she earned her BA degree in sociology from Wake Forest University and has been studying at the ALU School of Law, a current candidate for her Juris Doctorate (JD).
Toni Newman is also the author of the best-selling memoir I Rise-The Transformation of Toni Newman, which has been nominated for two Lambda literary awards in the categories of memoirs and transgender non-fiction. Which was also adapted into a feature film with the title “The Heart of a Woman”
Committed to ending the HIV epidemic formerly known as the African American AIDS Policy Training Institute. It was founded by Phil Willson in 1999. Black Aids Institute is a national non-profit organization making people aware and ending HIV in black America while engaging and working with black institutions and leaders.
Newman has experience working in:
Chair Of the Board of Directors for TransCanWork, Inc
Faculty Member at Transgender Strategy Center
Co-Founder/CEO at SPI Productions LLC
Interim Director of Employment Services at SF LGBT Center
Executive Director at JAMES ST. JAMES INFIRMARY
Development Director at Maitri compassionate care
Fundraiser/ legislative assistant at Equality California
Interim Director of Development and Communication at T.H.E. (To Help Everyone) Health and Wellness Centers
Overcoming barriers, shattering stereotypes and paving the way for future generations. They have proven what they bring to the table and what they can do to create change, as black CEOs with the power to lead. All the while giving back to their communities will drive success at some of the most successful organizations in America.
FAQs
Which company has black CEO?
Some of the companies that have black CEOs are:
Craig Arnold, Eaton
Rosalind ‘Roz’ Brewer, Walgreens Boots Alliance
Thasunda Brown Duckett, TIAA
Marvin Ellison, Lowe’s
Janice Bryant Howroyd, ActOne
Paul Mola, Roswell Biotechnologies
Toni Newman, Black AIDS Institute
Who was the first black woman CEO?
Ursula Burns was the first black woman CEO. She became the CEO of Xerox in 2009.
Who was the first black CEO?
Clifton R.Wharton, Jr. was the first black CEO of TIAA-CREF he took the charge of the company in 1987.
Ashwini
