Ahmedabad University Collaborates with U.C. San Diego
Ahmedabad University's Amrut Mody School of Management has signed a broad-ranging memorandum of understanding with U.C. San Diego's Rady School of Management to promote academic cooperation. The strategic association between the two universities is intended to promote close cooperation across various areas in joint R&D and educational capacity building. Specific areas for cooperation envisaged in the medium term includes domain specialized executive education programs, exchange of faculty, research scholars and students under various mobility programs, as well as jointly conducting academic research projects. This MoU between Ahmedabad University and University of California-San Diego will also pave the way for seamless exchange of technological and scientific information including publications, teaching materials, data and library resources. The two universities will also cooperate to jointly organize lectures, symposia, international conferences and developmental workshops, the university said in news release. The MoU was signed by Indian American Prof. Bibek Banerjee and Prof. Robert S. Sullivan at the U.C. San Diego campus. "The two universities have great congruence in their respective vision on how they wish to contribute to society. We at Ahmedabad University are delighted to partner with UCSD's phenomenal intellectual depth in promoting high quality education and interdisciplinary research," Banerjee said in a statement.
Mercom Reports Strong First Quarter
Mercom Capital Group LLC, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions activity for the Battery Storage, Smart Grid and Energy Efficiency sectors for the first quarter of 2018. Corporate funding in Battery Storage came to $299 million in 12 deals compared to $154 million in six deals in Q4 2017. In a year-over-year comparison, $80 million was raised in 10 deals in Q1 2017. Corporate funding in Smart Grid came to $1.3 billion in nine deals compared to $796 million in 12 deals in Q4 2017. In a year-over-year comparison, $164 million was raised in 14 deals in Q1 2017. Corporate funding in Energy Efficiency came to $104 million in five deals compared to $916 million in 14 deals in Q4 2017. In a year-over-year comparison, $514 million was raised in 17 deals in Q1 2017.
Cedar Rapids Welcomes Tata Consultancy Services
Cedar Rapids, Iowa, officials welcomed Mumbai-based Tata Consultancy Services to its town. “This is Day 1 of what we expect to be a long and profitable relationship between TCS and Cedar Rapids,” Mayor Brad Hart said in a The Gazette report at the time the company cut the ribbon on its operations in its city. TCS came to Cedar Rapids as part of a deal it inked with Transamerica, a financial services company. Transamerica outsourced administration of its insurance and annuities business to TCS, which included 882 employees in Cedar Rapids, the report said. About 860 of those employees took jobs with TCS, making Tata the largest company in the city, it added. Balaji Ganapathy, head of workforce effectiveness for TCS, said the ribbon cutting was “the start of a long journey for both Transamerica and TCS.” He said TCS wants to bring company initiatives focused on science, technology, engineering and math education to the city’s schools, such as one focused on “underserved and underrepresented parts of the community,” the report said.
CT Bond Commission Approves Financing for Infosys
The State Bond Commission in Connecticut approved financing to provide $14 million to Infosys, an India-based IT company developing a new training and innovation hub in Hartford as part of a major expansion in the U.S., according to a CTMirror.org report. In return for these grants, the company will provide an estimated 1,000 jobs to the capital city by 2022, the report said. “The bottom line is Connecticut is investing in itself,” Gov. Dannel P. Malloy said in the report. The governor, who called Infosys a leader “in global technology and next generation IT services,” added “these are monumental wins for Connecticut’s economy and a testament to the quality of our skilled, highly educated and productive workforce,” the report added. Infosys, the report said, would be eligible to receive $4 million if 200 jobs are created within two years and retained for two years; a second $4 million payment if 500 jobs in total have been created within the next three years, and then retained for two more years; a third $4 million payment if the job total reaches 1,000 created within the first five years, and if they are retained for another two years; and a final $2 million grant would be provided now to fund job training. The 10-member bond commission voted 9-1 to approve the assistance, the report said.
X-Biotix Therapeutics Secures $7M Series A Round
X-Biotix Therapeutics Inc., a biotechnology company focused on the discovery and development of novel small molecule antibiotic scaffolds targeting multi-drug-resistant Gram-negative pathogens, announced it has secured $7 million in a Series A financing from a group of private investors. Proceeds of the financing will enable X-Biotix to advance its pipeline of novel antibiotic candidates targeting a wide range of biological targets in essential pathways of Gram-negative bacterial cells. “I am very excited about securing the funding to support our novel antibiotic discovery and development efforts,” said X-Biotix president and CEO Ramani Varanasi. “This Series A funding ... will be invaluable as we advance our pipeline and build leadership in the infectious disease area.” X-Biotix was recently launched out of X-Chem, a privately held biotechnology company focused on applying its unique DNA encoding technology platform to the generation of novel small molecule therapeutics, and through a collaboration with senior investigators in the Department of Microbiology and Immunobiology at Harvard Medical School, and a technology license from Harvard University, is leveraging X-Chem’s unique platform to discover and develop novel chemical scaffolds with activity against a wide range of biological targets in essential pathways of Gram-negative bacterial cells, and which are also predicted to defeat known antibiotic resistance mechanisms.