Shankar Balan and Pioneering Sustainable Growth in the Packaging Industry

In today’s dynamic business landscape, where innovation and vision are critical, Palmetto Industries International Inc. distinguishes itself as a leader in flexible polymer packaging. Founded and led by CEO Shankar Balan, Palmetto Industries has built a reputation for providing cutting-edge packaging solutions across North America.

Headquartered near Augusta, Georgia, Palmetto Industries is known for offering innovative packaging solutions in North America. The company also owns and operates two manufacturing facilities in India.

Visionary Leadership

The man behind the company, Shankar Balan, is a dynamic leader and changemaker, boasting over four decades of experience across various business realms. As the CEO of Palmetto Industries, he has leveraged his diverse background to drive transformative initiatives in the packaging industry and leave a significant mark on the business landscape.

Mr. Balan earned his undergraduate degree in mechanical engineering in India before moving to the U.S. in 1987 to pursue a Master’s Degree in engineering, along with an MBA. Shortly before graduating, he launched WhizKidz, a computer learning company aimed at children aged 4-8. After successfully establishing the business, he sold it in 1991 and went on to create Balan and Associates, a consulting firm specializing in process reengineering and Total Quality Management Systems. He worked with clients like Comerica Bank, Monroe Automotive, and Ford Motor Company. He later began to lay the foundations of Palmetto Industries in 1994.

The Key Inspiration Behind Palmetto Industries

From a young age, Mr. Balan aspired to start a manufacturing company. During a golf trip to Augusta, he had the opportunity to meet individuals in the bulk bag (FIBC or flexible intermediate bulk containers) industry. Intrigued by the product, he recognized that the market was highly fragmented, presenting a significant opportunity for growth. This led him to wind down his consulting practice and establish Palmetto Industries.

Reflecting on how his early experiences shaped his leadership philosophy, Mr. Balan states, “During my high school years, my father relocated to a small town in South India, which was known for its spinning and weaving industries. The constant discussions around labor issues and capital expenditures, along with the presence of hardworking young entrepreneurs, inspired and shaped my early ambitions of starting a business.”

Overcoming the Hurdles Along the Way

Mr. Balan was just 25 when he launched his first venture in a foreign country, without money or connections. One of the biggest challenges he faced as the business grew was communicating effectively with employees, suppliers, bankers, and customers—each required a different approach. He often struggled to convey his vision, passion, and ambition to his employees while searching for someone who shared these traits. Eventually, Mr. Balan realized that he didn’t need all these traits in a single person; instead, he needed to build a team that could collectively guide the company in the right direction.

The Latest Trends in the Packaging Industry

Like many industries, the packaging industry has experienced constant change. In the early ’90s, there was a significant push to establish factories in Mexico, Turkey, and later India. This was followed by a shift toward 100% vertically integrated facilities and a focus on certifications such as food-grade standards.

Palmetto Industries has always been at the forefront of these changes. It was the first company to establish a 100% vertically integrated food-grade facility in India. The team remains committed to investing in human capital, sustainability initiatives, and the communities where they operate, striving to make a meaningful impact on the lives of the employees, suppliers, and ultimately, the customers.

Moving Towards Sustainability

“One of our key goals has been to achieve 100% zero waste, and we reached that milestone a few years ago,” asserts Mr. Balan. The team recycles all of the industrial waste into reprocessed resin, which is either reused in their products or other applications. Currently, about 30% of the energy comes from sustainable sources, such as solar and wind. They have successfully produced items using 100% recycled resin, and they are now working on developing products made from biodegradable resins.

Latest Technologies and Innovations in Industrial Packaging

Palmetto Industries is excited to share several innovative products and processes they have developed. Over the past three years, the team has reduced material weight by over 50% while still delivering a stronger product, making a significant contribution to their sustainability efforts. They have invested in advanced manufacturing machines capable of producing up to 7 layers of co-extruded films, allowing the team to control thickness and strength to meet precise specifications. Additionally, they have acquired machinery that can laminate as thin as 12 GSM (grams per square meter) and up to 100 GSM. Palmetto Industries has also been a pioneer in anti-static type D bags and is now a global leader in this area, serving customers in more than 10 countries.

Sustainability and Eco-friendly Practices: A Glance

Palmetto Industries is thrilled to introduce biodegradable and compostable poly bags, which Mr. Balan and his team believe will revolutionize the market for years to come. Additionally, they have designed an FIBC made entirely from biodegradable materials, as well as another FIBC that contains over 60% recycled polypropylene. Both designs maintain a safety factor of 6:1.

Roadmap to an Exciting Future

Since 2016, Palmetto Industries has focused on expanding its global footprint and product offerings. With customers in over 10 countries, the company has established distribution networks in more than 4 countries. It has also broadened its product range to include various packaging solutions and launched a widely successful e-commerce portal. These initiatives enable Palmetto to better serve its customers and reinforce its leadership in the industry.

Words of Wisdom

Advising future leaders, Shankar Balan says, “Hard work always pays off—don’t be discouraged by setbacks, and make sure to listen closely to your customers and colleagues.”

The Top 10 Fastest-Growing Packaging Companies of 2024

iMerit launches Automotive AI Center of Excellence in Coimbatore

To Leverage Billion-Dollar Automotive AI in India in the Next Five Years
Seeing market traction led by Ango Hub multisensory software and expert solutions
Employee retention rate at 90%
Already hired 220+ multisensor fusion experts and plans to double in 2025

India, December 16^,2024: iMerit, a software-delivered AI data solutions leader, is expanding. The company has launched an Automotive AI Center of Excellence in the vibrant city of Coimbatore in Tamil Nadu. This is a testament to the potential of the industry. According to a Nasscom report, the international market size of the automotive industry with AI is forecasted to reach a whopping $7.5 billion. The market will also grow at a rate of 21.5% CAGR by 2028, which will be a revolution in the industry.

The new center, iMerit’s 12th location, was inaugurated by Dr Palanivel Thiagarajan, the Minister of Information Technology and Digital Services for Tamil Nadu, in the presence of employees, guests, and senior executives from iMerit. iMerit has already hired over 220 employees in Coimbatore and has plans to double this in the next fiscal year. The company continues to invest in developing industry-leading software and solutions for AI Data to support its customers in autonomous mobility, medical AI, and technology.

iMerit is unique within the technology sector, with its leading AI data software Ango Hub driving customer traction and backed by 5000+ experts in computer vision and generative AI. The company enjoys a 90% employee retention rate and has maintained a gender ratio of 50% women since its inception.

Dr. Palanivel Thiagarajan, Honorable Minister of IT and Digital Services, Government of Tamil Nadu, said: “This event signifies a critical milestone, illustrating the remarkable speed at which visionary leadership and dedicated execution can effect change. The establishment of an office within six months—from initial discussions to formal inauguration—constitutes an exceptional accomplishment. Organizations operating in sectors such as Artificial Intelligence, computer vision, and data augmentation are poised to transform industries on a global scale. Moreover, these companies are fostering inclusive growth by advancing historically underserved communities, generating employment opportunities, and equipping individuals with advanced skill sets. Notably, with women comprising 52% of the workforce, many serving as sole breadwinners, this model embodies innovation, social equity, and empowerment—a true reflection of Tamil Nadu’s Chief Minister Thiru M.K. Stalin’s ambition & excellence”

“Coimbatore is a historic cultural and industrial venue. It is already famous for its IT and Automotive sectors. I am very pleased to bring these together with iMerit’s Automotive AI vertical. Automotive AI is our largest vertical. 60% of our revenues come from cutting-edge companies in autonomous mobility including trucking, ADAS (Advanced Driver Assistance Systems) and drones,” said Radha Ramaswami Basu, CEO and founder, iMerit Inc.

iMerit has been in the global AI data business for over a decade with customers across innovative and mission-critical sectors such as automotive, healthcare, agriculture, fintech, and recently, generative AI. Its software Ango Hub, with specialized industry capabilities such as 3D sensors, has been driving new customer acquisition, resulting in the strategic decision to put down roots in Coimbatore. The global AI data management market size is estimated at USD 25.53 billion in 2023 and is expected to grow at a CAGR of 22.7% from 2024 to 2030.

“Data quality is critical to AI technology, especially in computer vision and multisensor fusion, which are important for innovation in autonomous vehicles,” said Anupam Biswas, Chief Delivery Officer, iMerit. “The work is quite complex and we found a good mix of experienced and young talent in the Coimbatore area. This has been our fastest ramp-up in a new location. We have already hired and trained 220+ multisensor fusion experts on our Ango Hub software and they have started working on critical customer projects.”

The company emphasizes responsible AI through ethical practices. Coimbatore is ranked as one of the most liveable cities in India and at the very top for women’s safety. iMerit has also been steadily growing its India business. With Automotive AI in India poised to cross a billion dollars in the next five years, the company hopes to leverage its global know-how to help the Indian industry also build a strong AI data backbone.

“What excites us is the combination of technology strength and high-quality education of the talent pool here. We plan to grow our investment in this office. We are already looking at growing aggressively in 2025,” added Basu.

Follow these Simple Marketing Hacks in 2025: Grow Sales through the Year

Do you want to grow your sales, but you are not sure how to do it? We have discussed here ten effective strategies to lead measurable growth in your business.

Sales growth is the primary goal of every business, but many entrepreneurs are still not sure what strategies are and how they work. Chances are that you also wish to thrive, but there may be multiple challenges in your path. When you follow the right methods, you can catch the attention of your potential customers, enhance your conversion rate, and boost sales. However, it is a fact that not all growth hack tactics can work for your business. What works for others may not be effective for your business. It is about finding ways to grow your business that suit your unique offerings and business goals. Avoid following the same traditional way of marketing; instead, go for quick, cost-effective, and creative growth hacks.

Here are the 10 essential methods of marketing you should know. Regardless of how small or big your business is, these simple marketing hacks will help you boost your sales in 2025.

Utilize the LSA (Local Services Ads)

LSAs are pay-per-lead ads that started popping at the top of Google search results. You can use this strategy to boost your reach. With Google Ads, you need to pay for clicks, but LSAs tell you to pay for leads relevant to your business. Under this simple marketing hack, you need to first set your weekly budget depending on your number of expected leads.

Do Webinar Hosting

Webinars have been a super effective way to boost your sales organically. While this marketing strategy has been used for years, there is something new in the upcoming year. Get creative while hosting webinars. Invite guest speakers to help co-host, and even you can think of interviewing your happy customers. It can help you generate quality leads and grow your overall business. Just ensure you do proper research before choosing the topic, follow strategies for promoting your webinar, and you are all set to fly.

Create a Community

Earlier, corporations used to create a group of people to talk about their offerings among other people. In this digital era, social media can help you promote your business and boost your sales. It takes time to create content and cultivate an audience. So be patient and keep working to make social media activities a significant part of your overall sales growth plans.

Perform A/B Testing

The A\B testing enables you to enhance your messaging and build content that aligns best with a specific section of the audience. In the A/B test, you can create two versions of the same content and test the different versions. After the test period is over, you can evaluate the conversions and other data to choose which did the best.

Focus on Trends

Another simple yet significant marketing hack of 2025 is to stay updated with the latest trends. It is easy to work in favor of your company’s success. When you find a trend early, it allows you to create highly profitable sales growth tactics and make remarkable changes in your business plans to capitalize on a new trend.

Influencer Marketing

Influence marketing has been the talk of the time through the year 2024; this trend will impact your business significantly. Influencers can help you boost your sales in an organic way and also establish a solid market reputation for your brand. The best part is it does not make a hole in your pocket.

Work on Geo-Targeted Content

Digital marketing has been a crucial marketing strategy. However, most businesses are following digital strategies to grow their business. To make your business stand out in the business world, you need to go one step ahead and make additional efforts. Look at the region or cities where your site visitors stay. Once you are sure about the region, you can easily craft county-specific or region-based content to attract more people to your digital store and ultimately boost your sales. So, follow these simpler marketing hacks for effective results.

Create Content for Featured Snippets and AI Overviews

The significance of AI is at the next level today. If you want your content to rank and generate more leads, always optimize your content AI overviews and Google’s featured snippets.

A featured snippet is a unique answer box that comes at the top of Google search results. The AI overview is the same as the snippet; the only difference is that it is generated through AI.

Run Social Ads

Social media has been a part of marketing for a long time. But very few businesses used to think about running social media ads. In 2024-2025, advertising on social media networks has become a significant activity. With basic research, you can narrow down specific personas, try numerous creatives and messages, and collect data to see what works best for you. Connect your social ads to your landing page to generate sales instantly. While creating social media ads, your messaging should be clear, crisp, and attractive.

Include Novel Content

Content is considered the king of content marketing. But simply writing content to inform the audience about your brand will not be that effective while creating blogs and articles. Focus on the content that engages with your target audience besides educating them. Novel content is one of them. Polls, quizzes, and contests come under novel content that helps you engage with the audience. This type of content is included in blogs, articles, ebooks, and videos. One key factor to keep in mind is that the content should be relevant to your business.

Last Verdicts

Growing your sales can be a huge task. You can always experiment with different marketing methods. After trying and testing a few strategies, you will be able to enhance your marketing results. Make sure to follow these simpler marketing hacks in 2025 and take your sales growth to the next level. Keep modifying and making changes if any of the strategies do not work in favor of your business.

Car with IQ: Continental presents a demo car with innovative interaction technologies

Continental presents intelligent demo car at the Consumer Electronics Show (CES) in Las Vegas
Biometrics key to innovative interaction between people and their vehicles in demo car
Vehicle recognizes approaching people and interprets their intentions
Technological leap through the fusion of AI and sensor technology

Frankfurt, Germany, December 13, 2024. Continental is offering an outlook into the near future of mobility at the Consumer Electronics Show (CES) in Las Vegas, which starts on January 7, 2025. Technological innovations for interaction between the automobile and drivers are presented in a specially constructed show vehicle – the “Intelligent Vehicle Experience Car”. These solutions could go into series production in the next three to five years. The demonstration at CES 2025, the world’s most important technology trade show, focuses on external communication between humans and automobiles, with a focus, among other things, on intuitive, touch-free access to the vehicle using biometrics. This means that the car recognizes users even before they get into the vehicle, interpreting facial and movement characteristics and deriving actions from them, such as opening and starting the vehicle or proactively opening the tailgate in the supermarket parking lot, for example. More importantly, it also identifies persons who are not authorized to use the vehicle and may approach it with criminal intent. In this case, the doors remain locked and a warning is activated.

Continental’s demo car is a concrete look at the software-defined vehicle, the automobile that is shaped and managed by software – and at the same time ushers in the era of biometrics for future vehicle generations. “Biometrics opens up completely new horizons for the mobility of tomorrow,” explains Dr. Claudio Longo, Head of Research and Advanced Engineering at Continental. The interaction between humans and machines in vehicles is crucial for a positive user experience. In the future, vehicles will also interact with their users even before the doors are opened. They will be able to interpret intentions, movements and facial expressions. For Jean-François Tarabbia, Head of Architecture and Network Solutions at Continental, intuitive access is a key component: “The car is on track to become a smart device, similar to a cell phone, which will use biometric technologies to take the user experience to a new level of security and comfort.”

Continental is already one of the leaders in smart device based access solutions for series production by major automotive manufacturers. The innovations in the demo car at CES show what will be possible in the very near future.

Biometric technology: personalized interaction between people and their cars

The automobile is rapidly evolving into a software-defined vehicle. More and more functions are software-based. To ensure that the increase in functionalities, new technologies and innovative assistance systems do not make people feel uncomfortable, a harmonious, homogeneous and, above all, intuitive interaction with the automobile is essential for a positive user experience: for the well-being of the occupants, for their sense of comfort and, last but not least, for safety.

HMI – this abbreviation is crucial for the success of mobility concepts, today and tomorrow. Human Machine Interfaces are the key to intuitive interaction between users and the vehicle. The user experience begins when you approach the vehicle and experience support even before you enter it. Exterior HMI with audio and visual feedback is essential to confirm the status of the vehicle and

thus manage the cooperation between the vehicle and the user.

The intelligent vehicle from Continental focuses precisely on this first, crucial contact between people and their cars. To achieve this, it uses the advantages of biometric recognition, as is familiar from the facial recognition used by many smartphone apps, for example. For the success of future intelligent interaction systems, it is crucial that customers are already accustomed to certain user experiences from other contexts and also expect such convenience solutions from a premium product such as a car. However, the intelligent vehicle goes further than previous smartphone generations: it anticipates the intentions of the user, understands the context and personalizes the interaction.

A wide range of functions are possible within the context of the vehicle-user relationship on the basis of biometrics. Among other things, Continental’s demo car demonstrates approach detection (the car detects approaching persons), user identification (the car identifies authorized persons by means of facial recognition), intention recognition (the car recognizes the intention of an approaching person, for example by interpreting a hand movement in the vicinity of the door), and intuitive trunk access (the trunk opens automatically when an authorized person looks in the direction of the tailgate for a certain period of time). In the first generation of this innovation, the opening impulse is still triggered by a slight kick in the direction of the rear bumper.

Artificial Intelligence powers the new generation of cars

For these functions, Continental combines artificial intelligence algorithms and vehicle sensors that are already available in the vehicle for various applications. For example, as part of Continental’s smart device based access system CoSmA 360-degree cameras enabling parking functionalities can also be used together with proven ultra-wideband radar sensors to detect and identify people.

The demo car to be presented at CES showcases practical and, in some cases, already proven technologies that Continental is continuously developing to meet new user demands and expectations. It also addresses specific challenges, such as the protection of personal data and the optimized management of energy consumption, to avoid draining the batteries. The connection to a secured cloud makes it possible to integrate new intelligent functions into the vehicle wirelessly “over the air” over the entire life-cycle of a car.

Continental at CES 2025

Continental will showcase its latest technologies at a private structure exhibit in Central Plaza across from the Las Vegas Convention Center from Tuesday, January 7 through Friday, January

The technology company has numerous solutions that highlight mobility innovations, from the road to the cloud. An invitation-only media event has been scheduled for January 7.

Shecommerz Appoints Sandeep Mina as CEO to Drive its Growth in India’s Modest Income Consumer Segment

Sandeep to drive Shecommerz’s AI-powered distribution network to serve India’s emerging retail market

Delhi, Dec 13, 2024: Shecommerz, a leading platform devoted to the Modest Income Consumer (MIC) segment, has announced the appointment of Sandeep Mina as its Chief Executive Officer. Sandeep, a seasoned leader with over 2 decades of expertise in sales, operations, and strategy, will steer Shecommerz toward driving innovation and expansion in serving India’s Modest Income Consumer (MIC) segment.

Sandeep brings a wealth of experience from his leadership roles at prominent organizations. In his prior role at Swiggy, Sandeep was instrumental in developing new monetization streams, enabling incremental revenue growth, and establishing the ads revenue model. These initiatives played a critical role in propelling Swiggy toward faster profitability. His career also includes leadership roles at Dukaan, Hotstar, Star India, Olam International, Marico Limited, and Coca-Cola, underscoring his deep industry knowledge and operational expertise. A graduate of IIT Delhi with a postgraduate degree in marketing from IIM Ahmedabad, Sandeep’s strategic acumen positions him well to lead Shecommerz in its next growth phase.

Expressing his enthusiasm, Sandeep Mina said, “I am thrilled to join Shecommerz and the New Street Group at a time when it is uniquely positioned to make a significant impact. With our robust technology and operational capabilities, we hold a considerable advantage in addressing the ever-growing needs of India’s aspirational Modest Income Consumers. This blend of innovation and execution empowers us to not just serve this dynamic segment but also to shape the future of inclusive growth in India.”

Shecommerz, a key entity within the New Street Group, winner of the prestigious 19th edition of the Deloitte India Tech Fast 50 Programme, has over the past several years, leveraged its product-agnostic AI enabled technology platform to provide financial and other retail products and services for India’s MIC segment.

Sajeev Viswanathan, Chairman, Shecommerz, added, “Shecommerz has demonstrated the immense potential of a financial services-led, digitally enabled physical distribution network to serve 700 million people forming India’s Modest Income segment. I am excited to welcome Sandeep Mina to the New Street Group as CEO, SheCommerz, at this pivotal juncture. With his extensive retail distribution expertise, he will lead our 1,500-strong team to build a robust, hi-tech, AI-powered distribution channel for the world’s largest emerging retail market.”

IndusInd Bank embarks 30 years of banking excellence and celebration with Customized My Stamps

Mumbai, December 13, 2024: IndusInd Bank celebrates its 30th anniversary, reflecting on three transformative decades at the forefront of technological advancements and digital innovations, shaping the future of banking in India. To embark this significant milestone, the Bank is proud to announce its association with India Post to release Customized My Stamp. Department of Post, Government of India will be releasing the sheets of these Customized My Stamps, which will be available for sale to public on the portal www.epostoffice.gov.in. This initiative not only celebrates the Bank’s achievements but also underscores its unwavering commitment to its 41 million valued customers.

The partnership with India Post symbolizes IndusInd Bank’s enduring legacy and its steadfast commitment to trust, reliability, and service, values that both institutions have upheld throughout their histories. The Customized My Stamps marks an important initiative in the Bank’s journey and its role in driving innovation and customer-focused solutions in the financial sector. Looking ahead, the Bank’s dedication to enhancing customer experiences, embracing digital transformation, and promoting financial inclusion remains as robust as ever.

On the occasion, Mr. Soumitra Sen, Head – Consumer Banking & Marketing, IndusInd Bank, said “This year signifies a remarkable milestone as IndusInd Bank proudly celebrates 30 years of excellence. Throughout these three decades, we have embraced transformative growth and innovation, continuously redefining the future of banking. Our collaboration with India Post to introduce Customized My Stamps is not only a tribute to our journey but also a testament to our commitment to harmonizing heritage with modernity. As we move forward, we are resolutely dedicated to advancing the banking experience and sustaining the trust and support of our valued customers and stakeholders.”

Shri Sameer V Mahajan (IPoS), Sr. Superintendent of Post Offices, remarked, “Postage stamps serve as ambassadors of a nation’s history, culture, and heritage. They reflect a country’s achievements, its socio-political landscape, and the aspirations of its people. The release of a Customized My Stamp is a testament to the remarkable journey and success of IndusInd Bank. This My Customized Stamp is not just a piece of paper; it stands as a symbol of pride and accomplishment, representing 30 years of unwavering dedication, hard work, and a relentless pursuit of excellence by IndusInd Bank.

The journey of IndusInd Bank has been marked by growth, expansion, and the ability to continuously adapt to an ever-evolving business landscape. As we reflect on the past and look ahead to the future, let us draw inspiration from the legacy of IndusInd Bank and its ongoing commitment to making a positive and lasting impact in the banking industry. Department of Posts is pleased to release the Customized My Stamp and be a part of this celebration.”

Why it Pays to be a Good Poker Player if You Want to Succeed as an Entrepreneur

There are many stark similarities between successful businesspeople and poker players. It takes several attributes to win consistently at the poker tables. Whether it’s the ability to take calculated moves, think two steps ahead of rivals, adapting to changing table dynamics or demonstrating mental resilience in the face of unexpected losses, these are all vital traits in the world of commerce too.

Entrepreneurs that can stay the course have similar levels of uncertainty to cope with, while making sound business decisions after weighing up all the pros and cons in front of them. Below, we’ll go into more detail about why a poker player mentality translates seamlessly into the business environment.

Calculated decision-making

As a poker player, you’re having to make multiple decisions almost every minute. Given the multiple rounds in Texas Hold’em, players have various actions to take during every round – folding, checking, betting, calling, or raising an opponent. All of those actions are made based on the information in front of them regarding the strength of their opponents’ hands.

In business, entrepreneurs have to be similarly calculated in measuring potential gains against potential losses in a bid to drive growth. It’s all about minimizing the downside and letting the upside run. Speaking of downside and upside, entrepreneurs and poker players are equally skilled at managing the resources at their disposal. For poker players, their bankroll is their lifeline. They must protect it at all costs to give it every chance to grow. Similarly in business, capital, time, and manpower must be strategically allocated to achieve short, medium and long-term prosperity.

Mental fortitude

In poker, even the best players can lose. It’s a brutal reality. The fate of the cards is sometimes out of their control. They can make the best decisions at the time, but the fall of the cards can still cause unforeseen setbacks. Dealing with those bumps in the road is what separates the winners from the losers. By keeping emotions in check and remaining focused on bankroll growth, poker players have a better chance of staying the course.

It’s a similar story in the corporate world, with the best entrepreneurs never getting too high when things are going swimmingly and never getting too low when times get tough. They know that focus and a consistent mindset can win through over time.

Adjusting to changing conditions

When a great poker player is sat at the felt, every single hand presents a new set of challenges. This means they’re having to alter their approach continuously. When they are playing a multi-table tournament, they’ll encounter new players with different styles. All of which can change the dynamic of the table, requiring players to evolve or risk being knocked out.

Entrepreneurs face – and overcome – similar obstacles throughout the business cycle. Markets can shift, consumer preferences can change, and new competitors can emerge from the shadows. The best entrepreneurs can pivot like the best poker players, seizing new opportunities as fresh information comes to light.

Trusting the process

Patience is a virtue, whatever your passion may be. In poker, cash game players may often have to wait several hands or even hours of hands until they’re dealt a hand they can truly work with. During the quiet periods when blinds are eating away at their chip stacks, it could be all too easy for poker players to panic and get involved when the probability of winning is that much lower. The best players can bide their time for the perfect hand or wait until they have table position on weaker opponents at the very least.

As an entrepreneur, patience is equally important, especially when starting out in business. Success rarely comes overnight in business. It relies on countless small steps and a long-term vision. Staying committed to the strategy and resisting impulsive and potentially reckless decisions is what separates the wheat from the chaff.

It’s clear that poker and entrepreneurial minds share many similarities, with the need to navigate unpredictable situations and making moves to improve general productivity whenever they arise.

Elektrobit provides SDV roadmap at CES 2025, with open source from cloud to cockpit

Elektrobit to showcase expanded line of open-source and virtual software development solutions, and unveil the industry’s roadmap to the software-defined vehicle

ERLANGEN, Germany, December 12, 2024 – Elektrobit today announced it will showcase the latest innovations for accelerating the automotive industry’s transformation toward the software-defined vehicle (SDV) at CES 2025. These include its rapidly expanding line of open-source and virtual development solutions; a new classification system for SDVs that provides carmakers with a roadmap for development; a groundbreaking vehicle that encompasses a software-defined approach (Sony Honda Mobility’s AFEELA); seamless AUTOSAR and Android^TMinteroperability; new generative AI use cases; and more.

At Elektrobit’s booth in the Las Vegas Convention Center (LVCC), West Hall, #3400, attendees will get to experience and learn about these and other innovations:

SDV levels classification: With six levels from zero to five, Elektrobit’s framework outlines the evolutionary stages and provides practical steps for achieving different SDV levels effectively.
CES Innovation Award-winner EB corbos Linux for Safety Applications:Selected as an honoree in Vehicle Tech & Advanced Mobility, the world’s first open-source operating system (OS) solution compliant with automotive functional safety standards delivers significant speed, flexibility and cost savings. The free EB corbos Linux for Safety Applications software development kit (SDK) is available now.
Virtual SDV development environment:Passenger vehicle and truck manufacturers, Tier 1s, and suppliers can seamlessly “shift left” using Elektrobit’s cloud-based virtual development, prototyping, testing and validation platform. Scalable and faster than ever, the platform turns bold ideas into production-ready solutions.

Next-gen digital cockpit: Elektrobit’s sleek pillar-to-pillar curved display showcases the future of digital cockpits and in-vehicle infotainment (IVI). The virtual software solutions drive efficient development, branding, localization and evolution throughout the vehicle’s lifecycle for an elevated user experience. Integrated partner technologies from Elektrobit’s SDV ecosystem include AMD automotive-grade hardware, Google Android Automotive and Gemini AI, Epic Games’ Unreal Engine for 3D rendering and Here navigation.
New EB corbos Link: Merging the worlds of AUTOSAR and Android, EB corbos Link will be debuted at CES 2025. The first-of-its-kind development solution offers seamless interoperability, while enabling customization and reconfiguration of features and vehicle functions. It allows carmakers to create future-proof next-generation cockpits, agnostic of software and hardware.

In addition to demonstrations at the Elektrobit booth, Elektrobit solutions will be featured throughout the show by an extensive network of partners and consortia that are enabling the future of mobility. Sony Honda Mobility’s AFEELA, which will be on display at LVCC, Central Hall, booth 19904, integrates some of the IVI foundation developed in collaboration with Elektrobit in AFEELA’s digital cockpit. Some of the partners featuring Elektrobit demos at their booths are AWS (LVCC, West Hall, booth 4000), Cognizant (LVCC, West Hall, booth 7430), dSPACE (LVCC, West Hall, booth 4500), Siemens (Siemens PAVE360 Suite at the Fontainebleau Hotel), Sonatus (LVCC, West Hall, booth 4422).

“In a world of challenges, Elektrobit’s goal is to provide solutions that allow established OEMs, industry newcomers and tech leaders alike to create future-proof, safe, and secure software-defined mobility,” said Maria Anhalt, CEO of Elektrobit. “We believe that open-source software is the key to bringing code to road in a resource-efficient and speedy manner. Together with our partners, we enable the SDV with open source from cloud to cockpit.”

To learn more or schedule a demonstration with Elektrobit at CES 2025, visit https://www.elektrobit.com/ces2025/

Starting A Business With Minimal Resources

Embarking on the entrepreneurial journey can be both exhilarating and intimidating, especially in the absence of substantial financial resources. Nevertheless, numerous successful business owners have managed to create flourishing enterprises with limited means. By adopting the appropriate mindset, formulating a strategic plan, and employing a thoughtful approach, it is feasible to initiate a business with a modest budget. This article aims to provide insights on how to commence this venture and transform your entrepreneurial aspirations into tangible outcomes.

Mindset and Determination: The Foundation of Success

It is crucial to acknowledge that embarking on a business venture with limited resources necessitates a specific mindset. One must exhibit resourcefulness, resilience, and a readiness to make sacrifices. Numerous entrepreneurs who begin with minimal or no financial backing depend on their determination, creativity, and eagerness to learn throughout the process. Maintaining a positive and resolute attitude can assist in navigating obstacles and sustaining focus in the face of challenges.

Leverage Your Skills and Expertise

One of the primary benefits of launching a business with constrained resources is the absence of an immediate requirement to employ a substantial workforce. If you possess specialized skills or knowledge, you can begin providing services or products that correspond with your area of expertise. For example, if you have proficiency in graphic design, web development, or digital marketing, you can leverage these skills to establish a freelance enterprise.

Leveraging your current skills enables you to reduce outsourcing expenses, thereby allowing for the reallocation of limited resources to other areas. Additionally, your proficiency will grant you a competitive advantage, facilitating the process of attracting customers.

Choose the Right Business Model

Some business models are particularly advantageous for startups that operate with constrained resources. Service-oriented enterprises are the most attainable, as they typically do not necessitate substantial initial investments in products, inventory, or equipment. Examples of service-based businesses that can be initiated with minimal financial outlay include freelancing, consulting, online tutoring, and digital marketing.

Furthermore, enterprises that depend on digital platforms can be established with minimal financial investment. While there may be some initial expenses involved, such as creating a website or utilizing marketing tools, these costs are typically much lower compared to those associated with conventional physical businesses.

Start Small, Scale Gradually

A frequent error made by aspiring entrepreneurs is the tendency to pursue rapid scaling. When beginning with limited resources, it is crucial to adopt a modest approach and expand incrementally. This strategy enables you to assess the market, fine-tune your business model, and cultivate a dedicated customer base without stretching your capabilities too thin.

When initiating an online store, it may be prudent to start with a restricted selection of products to reduce inventory expenses. As you establish a customer base and gain insights into their preferences, you can broaden your product range and reinvest earnings back into the business to promote further growth.

Utilize Free or Low-Cost Tools and Resources

The current digital environment presents numerous free and inexpensive resources that can assist individuals in launching and managing a business while adhering to a limited budget. For instance, website creation platforms such as WordPress and Wix provide cost-effective hosting options and user-friendly templates, enabling the development of a professional website without requiring the expertise of a developer.

Social media platforms such as Instagram, Facebook, and LinkedIn serve as cost-effective marketing resources, enabling you to connect with a wide audience with minimal financial commitment. By producing high-quality content, interacting with your audience, and implementing targeted advertising strategies, you can expand your business while maintaining a budget-friendly approach.

Focus on Customer Acquisition and Retention

Acquiring customers is essential when beginning with limited resources. Instead of depending on costly advertising strategies, prioritize economical approaches such as word-of-mouth promotion, networking, and content marketing. Establishing robust relationships with your customers will not only foster repeat business but also stimulate referrals.

Deliver outstanding customer service and value to your clients to transform them into devoted supporters of your brand. For example, by offering superior service at a reasonable price, you increase the likelihood that your customers will share their positive experiences with friends, family, or colleagues.

Conclusion

Starting a business with minimal resources is challenging but it is far from impossible. By leveraging your skills, starting small, utilizing free tools, focusing on customer relationships, and seeking creative ways to acquire resources, you can build a successful business without the need for large amounts of capital. With patience, persistence, and a strategic approach, your business can thrive and grow, even from humble beginnings.