Fragrochem Aromas and SIES Collaboration - The Beginning.

The importance of industry collaborating with academic institutions is very important from multiple perspectives. Here we would like to share our experiences at Fragrochem Aromas while collaborating with academic institutions starting with South Indian Education Society - popularly known as SIES College of Science, Arts, Commerce and Management.

Interactive Discussion with Students and Faculty at SIES College - Sion.

On Friday, March 16, 2012, we had an interactive discussion about Entrepreneurship and Career Path with the students and faculty of SIES College Sion, Mumbai - India.

Some of the important points that were discussed:

Why Entrepreneurship?

A myth amongst students that came to the fore was that entrepreneurship is all about making lots of money. In fact, the early years of entrepreneurs' life seldom see them making lots of money. It's all about the problems that we see around us and how can we solve these problems in cost-effective, innovative ways always keeping in mind the simple equation:

Revenue - Cost = Profit / Loss.

Always making sure we do not run out of cash. Always spending less and earning more in order to make sure we are in Profit territory. Based on my reading the book Rich Dad, Poor Dad - I would definitely not recommend a person who wants to make a lot of money to be an entrepreneur.

Work for Money versus Make Money Work for you.

The book - Rich Dad Poor Dad educates you about money. Unfortunately, as highlighted in the book, none of the educational institutes teach students about money. This book beautifully explains the difference between the real assets and real liabilities and how assets help you generate recurring income for you to come out of the rat race and make money work for you. I highly recommend this book to anyone in high school and college. The earlier you know about finances, the better it would be for you.

Problem Solving and Entrepreneurship.

Entrepreneurship - on the other hand is a roller coaster journey that is for persons who love to live on the edge and enjoy the thrill of the journey. The journey to solve challenges or problems posed by the community and coming up with innovative ways to solve these. The more innovative the solution, the better you can charge for product or service. However, statistics show that only one percent of entrepreneurs succeed - hence making it a very difficult path to tread.

Action Points.

To summarize, we at Fragrochem Aromas Private Limited want you to be a rich individual (and we are talking about money rich here - not just rich in knowledge). If you choose to join us in our entrepreneurial journey, we look forward to collaborate with you in this journey. We look forward to your questions, comments, suggestions and more importantly criticisms which help us improve.

FAFAI Workshop: Exploring Opportunities in Turbulence: Fragrance and Aroma Chemicals.

When the going gets tough the tough gets going. In the business world, what can be tougher than a recession? These are possibly the toughest times that we are facing in business - may it be a large corporate or an entrepreneur with a passion to Change the World. This was the essence of the FAFAI (Fragrances and Flavors Association Of India) Workshop held on December 17, 2011 at Hotel Hyatt Regency - Mumbai.

Anand Jhunjhunwalla's opening presentation and the introduction by Nivedita Assar which summarized the agenda beautifully set the tone for the start of the seminar. Nivedita used the presentation brilliantly with minimum use of words being the icing on the cake and started the workshop that surely caught my attention.

B. Ramkrishnan from S.H. Kelkar and Company shared his insights coming from the leader of Indian Perfumery Industry. Ravi Mullick of Goldfield Fragrances titillated the audience brilliantly by reinforcing the creativity that is at the heart of Perfumery. His presentation highlighted the fact that unleashing a perfumer's creativity is the essence to great creations. It was a truly entertaining presentation by Ravi. With such a high from the presentation, who would need caffeine from Tea or Coffee.

Nivedita Desai from Firmenich presented a lot of analytical information from Cosmetics, Soaps and Detergents industries in India and from across the globe giving an analytical insight into the World of Perfumery.

Swaraj Sunku from Parimal Mandir Bangalore brought in a fresh wave of energy that the youth of India symbolizes. It was a pleasure to witness his energy and the confidence on the lectern and a lot of new thoughts about mechanizing the industry coupled with traditional Indian values and cultures.

Networking over delicious lunch presented a perfect opportunity to meet the stalwarts of the Indian Perfumery Industry. The end of the year is a perfect time to look back at the year gone by and look forward to the upcoming challenges. Coming from the Information Technology background, I have never quite understood a lot of secretive trends in this industry as we can deliver so much more value to the community by collaborating with the so called competitors.

Second half was brilliantly started in an entertaining manner by Parag Satoskar introducing V. Ramkumar from Symrise and Dr. G.S. Shankarling from Institute of Chemical Technology, Mumbai.

V. Ramkumar rightly emphasised on the need for collaborating and innovating instead of re-inventing the wheel. I would have loved to see some concrete points to follow up this statement that would lay the foundation for small and medium perfumery houses to explore avenues for such collaboration.

Dr. G.S. Shankarling provided a lot of interesting insights into Feedstocks available for manufacturing Aroma Chemicals in India opening the doors from Institute of Chemical Technology towards the Fragrance and Flavor houses to embrace chemistry into their day-to-day activities. It is indeed a pleasure to see Institute of Chemical Technology taking an active part in the FAFAI workshops.

Meghna Shah Karmarkar from Vikram Aromatics presented a lot of interesting insights from Indonesian Essential Oils and Aroma Chemicals.

Nikunj Harlalka was very refreshing in his presentations very much in the footsteps of the legend - Mr. Ramakant Harlalka. The knowledge from on the fields in the areas of Essential Oils from Chattisgarh and the neighboring areas is always a delight to experience.

Kamlesh Hinduja's crisp and flawless presentation on the areas that Hindujas specialize in The Mint Oils was really informative.

On the whole, it was a brilliantly put together workshop and we look forward to many more such events led by the energetic FAFAI team. As majority of the participants in FAFAI are small business owners and entrepreneurs, I see a very good connect with The Indus Entrepreneurs (TiE Mumbai) which can enable these businesses to rise from survival mindset into the growth mindset. I would love to see your comments about such workshops and how can FAFAI help you solve problems that you face in your day-to-day activities and work environment.