Arun Jain

Arun Jain (born 30 December 1959) is a Chennai-based Indian industrialist, investor and philanthropist.[1] He is the chairman and managing director of Intellect Design Arena Limited, an IT software products company in the banking, financial services and insurance space which is listed in the National Stock Exchange as Intellect. He was also the founder, Chairman and CEO of Polaris Consulting and Services Ltd. (formerly known as Polaris Software Labs), an IT services company. On 4 March 2016, Virtusa Corporation acquired a majority stake in Polaris Consulting & Services Limited.[2]

Arun Jain
Born30 Dec 1959
New Delhi
Alma materDelhi College of Education
OccupationChairman and managing director, intellect design arena limited
Spouse(s)Manju Jain
ChildrenUday Jain and Aarushi Jain
Parent(s)A D K Jain, Shakuntala Jain
WebsiteArun Jain

Arun has also been appointed the Chief Mentor[3] of the Centre of Excellence for FinTech set up by Ministry of Electronics & Information Technology (MeitY), Govt. of India, Member of National Software Product Mission, strategic forum for implementation of National Policy on Software Products 2019 constituted by MeitY. He is a Governing Council Member of STPI and also a Member in the Advisory Council of TechNest,[4] an incubation facility provided by STPI-Chennai.  He has held, and continues to hold, positions in CII, MMA, National Institute of Electronics and Information Technology (NIELIT) and the Indo-American Chamber of Commerce.

Career

After his graduation, Arun interned with Wang Laboratories in the United States following which he was offered permanent employment. However, he returned to India to set up what would become a global IT company.

He began his entrepreneurial journey at an early age when, as a child, he set up a street-food stall in Delhi that was profitable and, later, as a college student when he helped raise funds for a charitable cause by organising a film show. After graduating, Arun, along with friends Vishnu Dusad and Yogesh Andlay started International Information Systems (IIS) in 1983 as a partnership firm with all three sharing key responsibilities: Vishnu Dusad took charge of marketing, Arun Jain became the chief operating officer and Yogesh Andlay, the Chief Technologist. In 1986, IIS was renamed as Nucleus Software Workshop Pvt. Ltd. At a professional level, his first major enterprise was the establishment of Nucleus Software Workshop in 1986.

In 1993, he founded Polaris Software Lab with an initial capital of $250,[5] which recorded a CAGR of over 100% during the seven-year period 1993–2000. Intellect Design Arena Ltd. is his fourth venture in pursuit of his vision to make India the IP capital towards the next growth wave for the IT Industry with a strong focus on products.[6]

An evangelist of Design thinking, Arun's brainchild – FinTech 8012, the world's first design center, in Chennai – dedicated to Financial Technology came into being. An avid practitioner, he also evangelises Design Thinking through public workshops, branded as UnMukt – a unique workshop where participants explore and immerse themselves in Design Thinking. UnMukt (meaning ‘free from bondage’) not only simplifies the learning process but also dispels the barriers to learning.

The Design Thinking Journey

During a press interaction in 2007, a journalist asked Arun Jain a question that sent him on a trail to discover the answer. The question was: “What do you ascribe your success to... what is your unique trait that drives growth and performance at Polaris?” At that time, he was reading a book that drew his attention to the fact that his company was naturally practising Design Thinking.

In 2011, an IDEO TED Talk on Design made a deep impact on Arun. On reviewing his learning, he was convinced that his company was instinctively practising the science of simplification, which was close to Design Thinking. As soon as the connection between Design Thinking and his management training workshop (UnMukt) was made, there was a quantum leap in the way the company leveraged Design Thinking.

Design Thinking for Everyone

Arun Jain is a strong believer[7] that Design Thinking is a life skill for the masses and is not limited to any field.[8] That is why he not only created the World's First Design Center for Financial Institutions[9] but also went on to establish the School of Design Thinking to this cause. He has led the curation of the curriculum for all the courses, workshops and programs for almost every section of society offered by the institutions he has built. Programs/Workshops conducted here include:

  • UnMukt: Preparing the Design Mind: A workshop aimed at teaching the basic principles of Design Thinking and understanding its applicability in today's world of ever-changing dynamics.
  • 10x Growth for Entrepreneurs: 10 mantras for 10x Growth.
  • Design Thinking for Educators: Enabling educators/teachers to apply Design Thinking at work.
  • Customer Centricity for Startups: Helping startup founders/entrepreneurs achieve the best business design for their organisation.

UnMukt: Preparing the Design Mind

UnMukt is a flagship workshop where participants explore and immerse themselves in the art and science of Design Thinking. It has evolved into a platform for design seekers to congregate, learn mutually and gain exposure to a Design Mind which is indispensable for Design Thinking.

World's First Design Center

To reinforce the value of Design Thniking, a 30,000 sq. ft. FinTech 8012, the World's First Design Center in Chennai, was inaugurated in 2013. Dedicated to Financial Technology, it is a testimony to Arun's – and the company's – commitment to Design Thinking. A second such center was created in Mumbai in 2015.

The FinTech 8012 Design Center plays a vital role in bringing together the three pillars of financial organisations – Business, Technology and Operations – which are rarely aligned in their goals and help them focus on a common goal – the end-user. It enables the amalgamation of the three units’ goals to achieve good design through co-creation and collaboration.

School of Design Thinking

Incorporated in 2016 with a mission to create a Design Thinking movement in the country, School of Design Thinking (SoDT) is unique in its approach towards the very concept.  With equal importance given to the ability of Design Thinking in solving complex problems, SoDT also focuses on ‘Preparing the Design Mind’ of people. Along with working on the critical elements of the human mind, the School of Design Thinking has also crafted a 5-step Design Thinking Process facilitated by various design tools to solve complex problems.

Personal life

Arun was born in a middle-class family of nine siblings (eight sisters and an elder brother). His father was an Accounts officer in the Govt. of India's Postal & Telegraph (P&T) department. He completed his bachelor's degree in Electrical Engineering from Delhi College of Engineering (now known as Delhi Technological University).

Philanthropy

Arun has had an early interest in social engineering: starting from fund-raising at a cinema to creating and supporting sustainable nation-wide projects. Among the initiatives he has created and led, in recent times, are:

Ullas Trust: Encouraging Academic Excellence

Ullas Trust  was started in 1997 by Arun Jain, with an aim to integrate associates of Polaris, and later Intellect, with the larger community and enable them to enjoy the satisfaction of working with young minds in the country.[10] The Trust is a joint initiative of the employees and the organisation. Its primary motive is to shape the thinking of young, adolescent minds  (Grades 9–12) with specific focus on the economically-challenged sections (studying in Municipal, Govt. and Govt.-aided Schools) of society towards chasing their dreams and aspirations. Every year, Ullas selects over 1200 students through an entrance examination and these selected students, known as ‘Young Achievers’, are invited to a workshop called ‘CAN DO’ that publicly recognises their achievement/enrolment into Ullas, facilitates interactions with inspiring role models from public life, and plants the seed to 'Dream Big with Conviction!'[11]

Mission Samriddhi: A Social Impact Enterprise

He is also the Founder of ‘Mission Samriddhi’, a social impact enterprise dedicated to holistic human development in India, through the design and development of projects that are sustainable and capable of scale to positively impact the larger population. Projects are currently supported in seven clusters including: Leadership Capacity Building, Farm-to-Fabric, Farm-to-Table, Scientific Agricultural Training, Education,  Community Health and Grassroots Relief. The objectives of Mission Samriddhi are: Celebrate, Connect, Catalyse.

PoleStar Foundation: Celebrating Excellence in Journalism and Social Impact

The PoleStar Foundation, instituted in 1998, recognises, honours and celebrates the outstanding contribution made by Indian media professionals and social impact organisations through the eponymously-named PoleStar Awards. Awardees are selected by an independent and distinguished panel of jury members. For many years now, this annual award pays tribute to journalists and social impact enablers for their contribution and commitment to the nation and its people, and also for tirelessly acting as a catalyst in disseminating quality information and support to the world.[12]

Awards and recognition
  • Lifetime Achievement Award by the Confederation of Indian Industry (CII) at India's premier ICT Event, Connect 2016.[13]
  • Visionary of India 2014–15 Award, at the Brand Vision India 2020 Summit & Awards.[14]
  • Indo-ASEAN Business Initiative Award 2008 from the then Indian High Commissioner and currently India's External Affairs Minister, Dr. S. Jaishankar, at the ’Zak Salaam India’ expo in Singapore.[15]
  • ICICI Venture-CII Connect 2006 Awards along with Mr. Shiv Nadar, founder of HCL Technologies and Mr. Kumar Mahadeva, founder of Cognizant Technology Systems.[16]
  • Business Mentor Award 2019 – Vikatan Group.[17]
  • Dronacharya Award – TiECON Chennai – 2019.[18]
  • For the Sake of Honour Award – by Rotary – 2019.[19]
  • Lifetime Achievement Award at the 4th edition of the Design Thinking Conclave & Awards 2018.[20]
  • The Times Group – Pathfinders book featured Arun Jain in 2011.
  • Entrepreneur of the Year – Ernst & Young – 2004.
  • Lions Clubs International Award for Youth Empowerment.

References/Notes and references
  1. Narasimhan, T. E. (19 November 2015). "How Arun Jain built his fortune with Polaris". Business Standard India. Retrieved 14 December 2019.
  2. "Virtusa Completes Acquisition of Majority Interest in Polaris Consulting". Business Standard India. 3 March 2016. Retrieved 5 March 2020.
  3. Chandrashekhar, Anandi (14 January 2019). "Ministry of Electronics & IT to set up a Centre of Excellence for FinTech at Chennai". The Economic Times. Retrieved 5 March 2020.
  4. https://it.tn.gov.in/sites/default/files/2019-08/IT_e_24_2018_Ms_0-compressed.pdf
  5. "How Arun Jain built his fortune with Polaris". Rediff. Retrieved 5 March 2020.
  6. Simhan, TE Raja. "Focussing on developing IT products for banks helps Intellect Design Arena cross ₹1,000-cr revenue". @businessline. Retrieved 5 March 2020.
  7. Thiagarajan, Divya (25 February 2018). "How effective is design thinking?". The Hindu. ISSN 0971-751X. Retrieved 5 March 2020.
  8. "The Design Thinking Workshop by Intellect's Arun Jain". SmartCEO. 26 November 2018. Retrieved 5 March 2020.
  9. Sangani, Priyanka (29 November 2013). "Polaris' Arun Jain sets up world's first design centre for financial technology". The Economic Times. Retrieved 5 March 2020.
  10. Sinha, Vipasha (5 October 2013). "Guiding students to a brighter future". The Hindu. ISSN 0971-751X. Retrieved 9 March 2020.
  11. "Intellect Design Arena Limited – Ullas Trust | Economic Times". The Economic Times. Retrieved 9 March 2020.
  12. dtadmin (23 November 2019). "The PoleStar Foundation announces the winners of 21st Annual PoleStar Awards". DT News. Retrieved 9 March 2020.
  13. [(https://www.thehindubusinessline.com/companies/announcements/others/confederation-of-indian-industry-cii-honors-arun-jain-with-lifetime-achievement-award/article9158567.ece?css=print) "Confederation of Indian Industry (CII) honors Arun Jain with Lifetime Achievement Award"] Check |url= value (help). Business Line. 28 September 2016.
  14. 21 Apr, Sindhu Hariharan | TNN |; 2015; Ist, 17:33. "Arun Jain receives Visionary of India award". The Times of India. Retrieved 5 March 2020.CS1 maint: numeric names: authors list (link)
  15. "‘Zak Salaam India’ expo ends on an encouraging note". The Hindu. 18 August 2008. ISSN 0971-751X. Retrieved 5 March 2020.
  16. "Men who made a mark in the ICT sector honoured". The Hindu. 9 September 2006. ISSN 0971-751X. Retrieved 5 March 2020.
  17. [(https://www.business-standard.com/article/pti-stories/m-m-murugappan-honoured-with-lifetime-achievement-award-119120600980_1.html) "M M Murugappan honoured with Lifetime Achievement award"] Check |url= value (help). Business Standard. 6 December 2019.
  18. [(https://www.thehindubusinessline.com/news/education/ms-ananth-conferred-with-lifetime-achievement-award-at-tiecon-chennai-2019/article29664600.ece) (https://www.thehindubusinessline.com/news/education/ms-ananth-conferred-with-lifetime-achievement-award-at-tiecon-chennai-2019/article29664600.ece)] Check |url= value (help). Missing or empty |title= (help)
  19. "Engagements for May 31, Friday". The Hindu. 31 May 2019. ISSN 0971-751X. Retrieved 5 March 2020.
  20. "@intellectdesignarena Instagram post (photo) Design Thinking is the key tool in solving wicked problems that requires extraordinary solutions. #ArunJain, the ambassador of #DesignThinking, is solely responsible for redefining how young India looks at problem solving in extraordinary ways. While analysis of data can find the location of the problem, design thinking will identify the problem and provide the right solutions. Arun Jain has inspired different walks of life like students, faculty, startups, the FinTech world and more with his holistic solution-centric problem solving techniques. Arun Jain is the #LifetimeAchievementAward winner at 4th Design Thinking Conclave & Awards 2018. #DesignForDigital #PeopleWithBelief . . . . . . . . #IntellectDesignArena #Congratulations #chairman #ManagingDirector #Intellect #IntellectDesign #FT8012 #finTech #designthinking #problemsolving #extraordinarysolutions #likesforlikes #like4like #DesignThinkingConclaveAndAward2018 #PeopleWithBelief #believeinyourself #dailyquotes #quoteoftheday". gramho.com. Retrieved 5 March 2020.
gollark: They USED to.
gollark: Anyway, mind-reading is entirely doable but unfortunately most people's minds contain annoying irrelevant content rather than the specifics of the search query they just made.
gollark: Well, Google and Bing have 18246184618746128471289471289 employees ~~who actually know what they're doing~~ and postgres is likely better than the simple thing OSEv1 used.
gollark: What? No. Search engines are hard.
gollark: osmarks.net™ search engine™ plus™ will of course:- have working crawler logic probably- be faster somehow, as opposed to slower- use postgres FTS instead of a homegrown and not very good inverted index
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