Tag Archives: Start

The Latest Online Fashion Brand Aims To Get Eco-friendly Clothing From The Factory To The Wardrobe At Affordable Prices | Instant News


Can eco-friendly clothing be made at an affordable price?

This is the ultimate question in the industry, and one of the biggest points of frustration for people who want to participate but can’t afford the heavy price tag. Is there also a concern that you could make clothes ethically at a discount?

One California company hopes to do just that. Instead of cutting profits from producers, they cut out middlemen. That means the goods are delivered directly to the customer from the factory floor, said Quince founder Sid Gupta.

“That’s where we make savings and build a revolutionary supply chain. We skip all the steps – and all the carbon emissions, I might add, in between. “

Since they don’t have to have large amounts of inventory because they are factory-made and shipped out, Gupta explains that they can transfer the funds into the supply chain and materials. That means Quince can afford to use organic cotton in their sweatshirts and sweatpants, for example.

“We don’t consider ourselves luxurious, we consider ourselves premium, and focus on long-term clothing.” As well as durability, they tick the box when it comes to certification: These third-party partners include Global Organic Textile Standard (GOTS) and Oeko-Tex, the Better Cotton Initiative (BCI), and Responsible Wool Standard (RWS) to name a few. (Note, sustainability veterans can question the depth of some of these standards, but they are a starting place for fashion brands. Currently 80% of Quince organic cotton comes from GOTS or BCI certified supply chains.)

Regarding leather, a material that can divide public opinion, Gupta said they chose factory partners “who put ethical, environmental and labor standards at the forefront of their business – those who work to reduce the amount of water used and who pay fair wages. That’s why we spent the first two years building a brand focused on selecting our outstanding manufacturing partners. “

Although the journey is far from over, Gupta repeats it, they are trying to combine as many ingredients as possible – as quickly as possible. “It’s a work in progress, but our business model is what makes it possible.”

But for Gupta, Quince basically solves some of the main problems for consumers: it regulates the selection, making it easier to shop; it promises a certain level of quality and responsibility in the supply chain not available in e-commerce markets such as Amazon and eBay; and lowering prices, making clothing more affordable which is an important point in the world of sustainable fashion.

Much of this learning and adaptation to Quince comes from Gupta’s own experience of online shopping, he says, arguing that there are three waves of shopping on the Internet: first, the emergence of the Internet itself, which makes e-commerce possible; second, the D2C model; and third, marketplaces such as eBay and Amazon.

But the problem with Amazon, for example, he notes that it doesn’t ensure you’re getting the best product at the best price. “The search results make money, incentivizing those who can pay more to stand out at the top of the list. So, I spent 45 minutes, for example, looking for a frying pan there, but got so confused by all the reviews and what to believe, that I went to Target and got it. “

As Quince starts experimenting with more product categories, such as home, it aims to preserve the shopping experience, while incorporating as many eco-friendly ingredients as possible. “We think the fourth phase of the Internet will take place: from factories to consumers in the chosen way.”

To make this happen, Gupta raised $ 8.5 million in 2019 from Founders Fund, 8VC, and Base Set Ventures, and rebranded from “Last Brand” to “Quince” with site updates, a wider selection of items, and a new vertical.

The realization for establishing a company, he said, came from staying at hotels. “When you stay in a good hotel, you enjoy towels, sheets, a good bed. But why don’t we do it in our homes? Why do I sleep on not-so-great sheets the other 364 days of the year? “

Quince hopes to change that by marrying premium quality with an environmental focus at a mid-market price point so that more people can enjoy these “everyday luxuries.” Can they really do it, without compromising social and environmental standards? That will be the final test.

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KU recognizes the top startup companies in the IT field | Instant News


A ceremony to commemorate and motivate students whose startups have been included in Pakistan’s top 10 companies by the Japan International Cooperation Agency (JICA) was held under the auspices of the Karachi University student advisory office at the Deputy Chancellor’s Secretariat, a statement released the university said on Friday.

JICA recently released a list of top 10 Pakistani innovative companies, three of which are Karachi University student startups. These companies, including Xord, Social Champ, and Sudofy, are startups and contribute to the information technology sector.

A well-known international rating agency – Good Firm – has included Xord in the top 30 Global Innovative Campiness working at BlockChain. Deputy Chancellor Prof Dr Khalid Mahmood Iraqi congratulated the students and said they were an inspiration to other students at the university.

“These companies make a positive contribution to Pakistani software exports and represent Pakistan globally.”

He mentioned that these students are an asset to the university and the country.

Prof. Iraqi pointed out that recently the university has also set up a business incubation center to help and encourage students to generate unique ideas and bring them to a commercial scale.

“We know how much energy and potential there is in our students; we just need to tap into their potential and positively channel their energies for the benefit of this country. “

Then, Prof. Iraqi presented students with university symbols.

Previously, student adviser Dr Syed Asim Ali said that they had organized the event to encourage and acknowledge the dedication of students because somehow they had not been able to recognize and encourage students who run their own companies and contribute positively to the country.

“Now we will invite students from all majors and respect them because they are also an inspiration for other students.”

Director of the Office of Research, Innovation and Commercialization Prof. Dr. Aliya Rehman, Chair of the Computer Science Department Prof. Dr. Nadeem Mahmood, and senior teaching staff Badar Sami also attended the event.

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Dramatic photos show injured hikers climbing ropes to mountains in Aoraki / Mt Cook National Park before being rescued | Instant News


The two climbers were before they saved. One of them had a badly broken arm and was tied to the side of a mountain. Photo / Provided

Two climbers – one seriously injured – spent one night in Aoraki / Mt Cook National Park as rescuers departed complicated mission to take them to safety.

The climbers were trapped by a rock slide on steep terrain on Wednesday evening and weather conditions hindered rescue efforts, but a lull in the clouds early Thursday allowed the helicopter crew to unload an alpine cliff rescue team.

A Greymouth Rescue Helicopter then flew the couple – a man and a woman in their 50s – to Greymouth Hospital.

The man’s arm was badly broken in two places, a concussion and a badly injured leg. The woman was relatively unscathed, and she had tied the injured climber to the steep slope to prevent her from falling and suffering further injuries.

The two climbers were before they saved.  One of them had a badly broken arm and was tied to the side of a mountain.  Photo / Provided
The two climbers were before they saved. One of them had a badly broken arm and was tied to the side of a mountain. Photo / Provided

New Zealand’s Maritime rescue coordination center is leading a complex rescue. Search mission coordinator Neville Blakemore said the climbers activated the danger warning function of their InReach device at 5:30 p.m. on Wednesday following the rock slide.

The rescue was completed at 8:50 a.m. on Thursday when the climbers arrived at Greymouth Hospital, having been flown there in a rescue helicopter.

Blakemore said being able to activate the device may have saved the wounded
a climber’s life. The pair were well equipped for the terrain they were on.

On Wednesday evening, the coordination center requested Helicopter Line helicopters to fly from Aoraki / Mt Cook with the Department of Conservation’s alpine cliff rescue team.

A lull in the clouds early Thursday allowed the helicopter crew to drop off the alpine cliff rescue team.  Photo / Provided
A lull in the clouds early Thursday allowed the helicopter crew to drop off the alpine cliff rescue team. Photo / Provided

They were unable to get to the site of the rock slide at an altitude of 1,800 meters on Mount D’Archiac (50 km northeast of Aoraki / Mt Cook) due to thick clouds. Instead, they landed a rescue team at Godley Hut to wait the night, monitor the weather and stay in touch with the coordination center.

The center has helicopters with night flying equipment on standby in Christchurch and
Greymouth.

Low clouds prevented Christchurch helicopters from flying, but at 3 a.m. on Thursday, during a lull in the clouds in the mountains, Greymouth Rescue Helicopters were able to fly to the scene and bring down an alpine cliff rescue team.

The two climbers were flown to Greymouth Hospital at around 7.30am.

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With Open Banking On Its Horizons, Brazil’s New Unicorn Credibility Is Eyeing Further Growth | Instant News


After becoming Brazil’s newest unicorn and hitting a $ 1.75 billion valuation, Brazil secured fintech loans Credits brace for further growth as the country’s payments landscape changes with instant payments and open banking.

Credits is focused on loans secured by a variety of credit products around three types of collateral: real estate, vehicles, and salaries. Following the $ 255 million Series E round announced last Friday (19), Creditas joins a select club of 10 other Brazilian startups valued at $ 1 billion and above.

Existing supporters SoftBank Vision Fund 1, SoftBank Latin America Fund, VEF, Kaszek Ventures and Amadeus Capital joined the round. In addition, Creditas attracts new investors, including funds LGT Lightstone, Tarsadia Capital, Wellington Management, e.ventures and Advent International, through its affiliate, Sunley House Capital.

According to Creditas founder and CEO Sergio Furio, this is the fastest spin the company has ever taken: the board decided to continue the process in mid-September and the investment was completed in early December. “On the one hand, the process is more efficient than usual because it is done remotely. Being able to meet with investors based in five different countries on the same day helps us move faster and means the discussion gets to the point”, said the founder. Forbes.

However, the Spaniard took the company number down during the pandemic speaks for itself. The fintech loan portfolio in the third quarter nearly doubled over the same period in 2019, exceeding 1 billion reais ($ 191 million). During the first nine months of 2020, the company’s revenue totaled 232 million reais ($ 44 million), more than double the revenue compared to the same period the previous year.

“Our Q3 figures are very good and represent a very strong fourth quarter. The numbers are another validation from an investor’s perspective and they can see that even during the pandemic, Creditas is benefiting from [collateral-based lending] and the fact that the process is completely digital “, Furio noted. With 30.4 million reais ($ 5.8 million), the company’s revenue for the quarter ending September 2020 is almost back to pre-Covid levels. The company has also decided to release its results every three months. : according to Furio, this will contribute to the functioning of the capital market.

MORE THAN FORBESBrazil Notes: Credity Boosts Expansion, Seeing Growth Despite Crisis

The company’s management through crisis is also prominent. In March, the company drastically reduced investment in marketing, which was one of the company’s biggest expenses at the time and stopped hiring. The action means the company’s cash flow is positive for the first time since its inception in 2012. In July, the startup’s default rate was low – according to credit reporting agency Serasa Experian, consumer demand for credit in Brazil has been growing steadily, on average. 5% since October, driven by high unemployment rates and the need to renegotiate financial commitments, with cheaper loans to cover existing debt.

Creditas then continued recruiting – at the start of the Covid-19 crisis, it had 1,500 staff, and ended 2020 with 1,800 people on the payroll – realized capital was still available and decided to raise another round to boost its growth ambitions.

OPEN BANKING OPPORTUNITIES

Going forward, fintech will use the new funding to accelerate its international expansion in Mexico, where it has 60 staff. According to Furio, there are no plans to launch in other countries, at least for the next two years.

In addition, Creditas will explore possibilities Pix, an instant payment system launched by the Brazilian Central Bank last month. “[Pix] is an enhancement of the customer experience and an expansion in our ability to extend credit, “said Furio.

“Customers can [request credit] via our platform at 2pm on Saturdays and at 8pm on the same day money is available on their accounts: [Pix] brings significant improvements to the customer experience. “

However, the real leap must come with the further progress of the arrangement of financial services in Brazil, particularly in terms of open banking, a model that will be implemented in Brazil in phases from 2021 and will allow sharing of consumer financial data, with their consent, between agencies. “Open banking will allow us to get a clearer view of clients’ lives and the opportunities that can be explored [from clients], Said Furio.

Currently, Credits require various types of information to issue loans, such as proof of income. Open banking has to cut corners in the process, which means not only an increase in experience, but also a reduction in operating costs, which, according to Furio, will result in lower costs for consumers.

In addition, the new arrangement under open banking will also allow Creditas to have a firmer long-term relationship with their customer base. In a hypothetical scenario, customers who have secured loans with Credits and payroll accounts will be able to integrate open banking, which will allow startups to know when a consumer reaches an overdraft. A consumer can then create a payment order with Credibility in which the credit line can be increased and the amount sent to the account automatically covers the limit, thus avoiding interest charges.

“We always talk about the need for financial education in Brazil, but this is a long-term battle. You can’t educate the population and expect them to know how to calculate compound interest overnight. What we need to do in the meantime is create a product that protects consumers from the bad things, “said the founder, referring to the ability to use credit provided by companies as a kind of” on autopilot “. “It’s a kind of partner ability that helps you optimize your personal life.”

On the topic of doing things good, the founder noted that fast-growing companies like Creditas also have a big social responsibility to drive structural change. “The company is an important part of the social order and the creation of a series of concepts that are gradually changing society. His responsibilities are immense and penetrate various fields, from education to innovation, diversity and values, ”said the founder.

“Among our investors, there are several funds that we are looking for [social impact], apart from our responsibility to directly transform the universe in which we operate, provide positive lending through extremely low interest rates. But much remains to be done ”.

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From Friday, Karachi may experience cold weather during the week | Instant News


The Pakistan Meteorological Department (PMD) has forecast cold and dry weather for the next few days in Karachi, especially on Friday and Saturday, saying that the minimum temperature could drop to 7 or 8 degrees Celsius.

“Winter has gripped the whole country lately following western disturbances which caused rain and snow to fall on the upper part of the country,” said Sardar Sarfaraz, Sindh’s chief meteorological officer, Wednesday.

“Under the influence of this winter, the minimum temperature fell to 11 ° C in the last two nights and is expected to drop to the single digits in the coming days.” According to PMD officials in Karachi, a minimum temperature of 11 ° C was recorded in the city on Tuesday evening, while a maximum temperature of 22.2 ° C was recorded on Wednesday.

Sarfaraz said the city’s winter can last until December 24, adding that the minimum temperature will likely remain between 9 ° C and 11 ° C on most days, except this Friday and Saturday, when cold, dry and windy conditions can bring temperatures down. in single digits.

Winter has arrived in the city after low temperatures were recorded in several cities in Balochistan. On Tuesday, minus 11 degrees was reported in Kalat and in Balochustan coastal areas such as Gwadar, the temperature was recorded at 12 degrees. Sibi’s body temperature is five degrees, while Nok Kandi is three degrees. According to PMD, cold winds are expected to blow over Balochistan and will continue to affect the Karachi weather.

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