IIT MADRAS WON THE BUSINESS PLAN COMPETETION AT NEW YORK
The Indian Institute of Technology Madras won the NYC next Idea 2009-10 global business plan competition launched by the New York City last year. The ten leading International schools from Asia, Latin America and Europe participated with the schools of India, France and Spain making the finals and the City Mayor Michael R. Bloomberg announced the winner. The winning team GREENNEXT TECHNOLOGY SOLUTIONS was selected by a panel of judges from New York and will receive a $20,000 cash prize. A new system to facilitate utility companies and energy producers to distribute and also store energy through remote sites and 5 districts efficiently has been prepared by the team of IIT comprising of Vinayshankar Kulkarni, Aashish Dattani and Sriram Kalyanaraman. At the Columbia Business School, Bloomberg said that New York is the city where the entrepreneurs would want to go and launch businesses. He also said that it is not only enough to be the city where the entrepreneurs would want to go rather it should be made sure that it is their country and their city where they can go.
The team of Greenext Technology Solutions is a proposal that is initiating specialized hardware and software solutions to utility companies, energy traders, energy storage manufacturers and renewable energy producers.
XEstor is the name of the product of the Greenext Technology Solutions and it helps in serving as an interface to store energy from any source across New York city into large battery storage sites.