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The coming year will be all about kindness and collaboration… (there will be) sleepless nights and tiring days…use technology but do not be defined by it… (borrow) ideas from your competitors and do it better…stay lean as long as you can… focus on cash, not profits…get a mentor.” These were the opening comments of Shernaz Engineer, chair of the World Zarathushti Chamber of Commerce’s (WZCC) UK Chapter while welcoming the Chamber’s members to their online annual general meeting (AGM) on January 23, 2021. Looking back on the year that was, she stated that unfazed by the pandemic, WZCC chapters the "world over have come up with new ideas… We have assisted each other with advice, professional knowhow and networking.”
The proceedings had begun with a welcome address by honorary member of WZCC Lord Karan Bilimoria of Chelsea. "The true test of leadership is in times of adversity, not in good times,” he stated. Businesses in the UK have behaved in an exemplary fashion…There is a sense of community, he appreciated. Alluding to the uncertainty caused by the coronavirus, Bilimoria stated that the UK government had supported businesses to the tune of GBP 300 billion (INR 30,01,522 crore) by reducing and delaying taxes and guaranteed loans. If we are to succeed, "we have to work collaboratively in the future…the government, businesses, research centers and universities,” he exhorted. He gave the example of hospitals in UK built with public-private partnership, and the joint development of vaccines by the Dr Cyrus Poonawalla founded Serum Institute of India, Oxford University and pharmaceutical company AstraZeneca. Bilimoria advocated an acceptance of the horrors wreaked by the pandemic, tempered with faith that the bleak economic scenario will end. With travel restrictions in place currently, the global conclave comprising various other annual events, held concomitantly with their AGM in the past, has been postponed to October 2021 in London.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edul Daver, global president was "amazed” that the Internal Revenue Service of USA speedily provided special concessions to ensure that donations to the Zarathushti Entrepreneurship Development Foundation (ZEDF) are tax deductible in the hands of the donors. ZEDF is an independent entity set up in 2019, comprising WZCC and the Federation of Zoroastrian Associations of North America (FEZANA) to meet their "mutual needs and objectives” of setting up a financial vehicle for budding entrepreneurs in North America, Daver noted in the annual report 2020. While Covid-19 put a temporary halt to fund-raising, the president stated that they "would like to collect at least USD 200,000 (INR 1.45 crore) by March 2021 for ZEDF… We want everyone to spread the word that debt financing is available without interest,” he appealed. The Chamber is hoping to disburse their first loan by March this year, he stated. The Zoroastrian Faculty Network (ZFN) "finally got on track in 2020” with programs, webinars designed to encourage students to take up higher education abroad and to "enhance their own growth.”
The coming year 2021 will see a "hybrid model” of chapter meetings online and in person, Daver mentioned. "The year will also see the funding of a ZFN scholar in the humanities and social sciences in the UK,” he stated. Davar appreciated the efforts of the 14 chapters and four area offices in keeping in touch electronically and commended the 132 e-blasts (informative emails) that kept all members informed of key events and happenings.
Announcing the annual awards for 2020, Daver stated that only the names of the winners and a brief profile would be announced, with detailed citations and acceptance speeches at the London conclave. Sydney-based Dr Rustom Kanga, who was recognized as the Outstanding Entrepreneur is the founder and chief executive officer of iOmnisient a company that provides solutions using artificial intelligence (AI) for companies in 60 countries. Their system to find lost children is offered free in many countries in the world, Daver noted.
Dr Zarthustra Amrolia, recipient of the Outstanding Professional award has set up an AI based financial technology start-up in the UK. "It is number one in the European equity market and among the top three players in the commodities market,” added Daver. Outstanding Young Entrepreneur / Professional awardee, Boston-based Rahul Bansal, who is in his early 30s, is chief executive officer of TribalVision, an outsourced digital marketing company while dentist Dr Yasmin Ghadiali, recognized as Outstanding Social Entrepreneur, has empowered women with providing seed money for their businesses and assisted with fund-raising for Bombay’s The B. D. Petit Parsee General Hospital. She has raised USD 812,000 (Rs 5.92 crore) over 18 years via annual fund-raisers, Daver detailed.
"The things you regret in life are the risks you did not take,” began regional director for India Capt Percy Master, speaking on the WZCC India / World Zoroastrian Organisation Trust Funds (WZOTF) Finance Initiative. This sentiment, he noted, was the prompt for the joint initiative between the two organizations to fund entrepreneurship in India. Of the Rs 1.68 crore (USD 230,134) collected as donations, Rs 1.17 crore (USD 160,275) has been disbursed to start-ups in various fields like manufacture of electric batteries and chemicals, container yard management and accounting services. Repayments of Rs 45 lakh (USD 61,644) have already flowed in, he noted. The available balance, including interest on invested funds is Rs 96.45 lakh (USD 132,124), Master noted. "We have been flexible and provided moratorium till December 2020 in most cases,” he stated.
Special advisor on the international board Pheroze Kharas, who assists the Business Advisory Committee (BAC) with the appraisal of business proposals for venture financing, bemoaned that of the applicants who were looking for loans, "not a single candidate” has provided WZCC with the needed planning documents. "I am disappointed that (those who are seeking funds) do not have the will to improve,” he stated. To overcome this, he suggested that the BAC members must become mentors for younger entrepreneurs and conduct workshops on financial control.

 

"Maximum participants”
To vice president Yazdi Tantra, virtual meetings "emerged as if by magic” during the pandemic. "In the 20 years of WZCC, 2020 has been the year when we have had the maximum number of programs with the maximum number of participants,” he asserted to the over-100 members present, referring to the various channels that they communicated on — their website, YouTube and Facebook. Engineer commended Tantra’s presence at every webinar of WZCC for 2020.
Alluding to the "pillars” of integrity and industry in their logo, corporate global secretary Adi Siganporia stated in his report that "we have to give equal importance, maybe even more to integrity, financial and intellectual… The business world has witnessed several collapses where innocent stakeholders suffer.”
Based on accounts received from chapters, the revenue for the Chamber grew from USD 63,939 (INR 46.61 lakh) in the previous year to USD 78,726 (INR 57.44 lakh) in 2020, mainly on account of advertising income collected by the Bombay chapter for the last annual conclave, stated global honorary treasurer Katayun Kapadia. Expenses fell from about USD 74,000 (INR 53.95 lakh) to USD 68,946 (INR 50.26 lakh), on account of almost no cost on in-person meetings. She thanked the various sponsors of the Chamber’s programs during 2020, naming specifically Bilimoria, Engineer, Dorab Mistry of the UK chapter and Meher Bhesania of Middle East — Dubai chapter, for sponsoring their journal SynergyZ. 
The theme for the 2021 issue of SynergyZ will be father-son chief executive officers, noted Bhesania, who reminded the audience that the year marks the magazine’s 17th anniversary. She called it "not only a journal but an opportunity for chapters to collaborate… We put WZCC on a stronger and a higher pedestal,” she stated.
Global youth director Jehaan Kotwal said that in 2020 they "included professionals under the Jobs for Every Zoroastrian program…We have sent over 20 people” from about 540 job seekers for interviews, stated Kotwal. Of these, four have landed jobs. A dedicated human resource team matches job seekers to potential openings, and even coaches applicants in the preparation of bio data documents, he stated. A task force will look at ways and means by which youth groups across continents will be able to connect and collaborate with each other "and not to work in silos any more.”
Their program Shark Tank which matches fund seekers with potential investors, has now been rechristened "Tiger’s Den” because "Parsis are the tigers of India…or at least they think they are,” Kotwal explained. He later clarified that the name was changed to avoid any copyright issues with the television program Shark Tank. The third version of Tiger’s Den will be held in the global conclave planned in London in October 2021, he stated. Ten participants have taken part so far out of 35 applicants for funds, and of them one received equity financing from industrialist Adi Godrej. "We are looking at an opportunity based in Los Angeles called Lotus Trolley Bags… Hopefully that will be even bigger than our previous success at (the previous conclave) in Lonavala,” he stated.  
Behroze Daruwalla, international chair, Women Entrepreneurs subcommittee appealed to chapter chairs to induct at least two women on their committees and empower them to focus on women-oriented programs. "Women can reshape the conversation, make sure women’s voices are heeded, because a strong woman understands that gifts such as logic, decisiveness and strength are just as feminine as intuition,” she noted.
As exhorted Engineer, "We have a great program lined up for you for October 2021 in London (at the conclave), so go out there and get vaccinated.”             

To be continued