News in Brief
Intel to chip into Digital India
US chipmaker Intel is keen to back the Digital India campaign with a set of initiatives to help fund start-ups and small companies.
Intel’s Innovate for Digital India Challenge has earmarked ?2.4 crores to fund around 20 ventures in partnership with the Department of Science and Technology (DST).
Indian Institute of Management (IIM) Ahmedabad and CIIE (Centre for Innovation Incubation and Entrepreneurship) will help the technology giant pick ventures that are commercially viable in areas such as financial inclusion, agriculture, healthcare, amongst others.
The innovate for Digital India Challenge will encourage easy to use products such as biometric sensing capabilities, language-supported voice solutions, sensors, gesture recognition, among others.
Royal Enfield acquires UK firm
Chennai-based motorcycle manufacturer Royal Enfield has acquired UK-based components firm Harris Performance Products Ltd.
Established over 40 years ago by brothers Steve and Lester Harris and Stephen Bayford, Harris Performance is one of the leading experts in designing and manufacturing of specialised high performance motorcycle chassis and components.
Under the terms of the deal, Royal Enfield will acquire all assets, employees, trade names, technical know-how and intellectual property of Harris Performance Products Ltd, Royal Enfield a company statement said.
Harris Performance has had a long standing relationship with Royal Enfield and was responsible for the chassis development of the brand’s iconic Continental GT café racer model.
Siddhartha Lal, Royal Enfield CEO, said: “Royal Enfield is working on its new generation of products and platforms, to have the Harris Performance team dedicatedly working with us will clearly enhance our engineering and product design capabilities.”
Spanish switch firm eyes India
Spain-based switch maker Simon is re-launching its India operations as it eyes the growing high-end segment.
The company will invest heavily over the next three years on R&D, marketing and branding and will also upgrade the quality and expand range of its products here.
Simon Holding SL international business director Luis Baselga said: “We are looking at India to be our second-biggest global market after China.
“India’s mid-segment population is growing and hence we would have greater opportunity in the high-end segment products.”
Simon will also set up a centre of excellence in India which will research and develop products for the country.
The company had first entered the Indian market in 2007 through a joint venture with Eon Electric Ltd. The two had set up a plant in at Haridwar in Uttarakhan, which will remain with Simon.
