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For Immediate Release
Philosopher's Stone Group Grows Its Business
REDONDO BEACH, CA - Despite the slowdown and 9/11,
Philosopher's Stone Ventures made it in 2001. S. Ramesh,
President and Jenny Sakhrani, CFO say the company
not only survived but grew its business. They emerged
as Philosopher's Stone Group of Companies with two
consultant divisions - RippleImpact and Grayhat Security.
Says Ramesh, "the biggest thing we did last
year was survive. A lot of incubators went out of
business. But as our model was a bit different, we
were able to beat the odds."
Giving a brief background, he says, "Our mission
is to work with entrepreneurs and investors to build
profitable companies. We provide entrepreneurs with
access to seed funding, technology resources and management
expertise, while at the same time, providing investors
with excellent opportunities to conduct due diligence
and maximize their profits."
As to the difference in their business model, he
says, "Other incubators provide a large base
and networking for companies dealing more with the
infrastructure. We focus more on the software side,
and help companies where they need help the most,
like providing an interim CEO, CFO."
"Another reason we survived," says Ramesh,
"is wise investments. Companies we invested in
are real businesses, so neither did we."
Sakhrani adds that not only did the company grow
in terms of having two divisions, but also signed
up valuable partnerships and alliances.
The divisions are RippleImpact, a high-end technology
consulting services company that develops forward
looking and scaleable software solutions; and Grayhat
Security an Internet and software security development
and protection company. Philosopher's Stone Group
is also the parent company of several subsidiaries
that provide an array of services to its incubated
companies like Business Protection Systems International,
PremiumCHAT, ConstructSure and Process Claims.
Business Protection Systems provides disaster revoery
planning and business continuancy planning, very relevant
to present times. PremiumCHAT enables professionals
like lawyers, accountants, teachers to provide services
through net-secure chat. ConstructSure is in the process
of creating a bond with an insurance company which
allow it to provide a guarantee that construction
will be done on time and within the budget. Process
Claims deals with auto accidents and provides a single
platform for insurance companies and all other parties
concerned. Philosopher's Stone is a partner of IBM.
Says Sakhrani, "we are one of the few surviving
partners of the limited few they have."
Adds Ramesh, "We went in for partnerships as
we wanted to provide the best possible deals for the
companies that were going to be their vendors. We
wanted to help our incubated companies land the best
deals with our partners."
Philosopher's Stone has also partnered with Sun,
Epoch, and Inflow.
Another highlight was meeting Canadian Prime Minister
Jean Chretien in Los Angeles at the Team Canada West
Trade Mission. Both Ramesh and Sakhrani who are Canadian
citizens, participated and were invited by the PM
to open an office in Canada.
As for future, expansion is a priority. Says Ramesh,
"we want to expand our security consulting group
and the software side too." With the new year
just begun and hope of better market, there is much
to look forward to.
-Amelia M.
Back
For media information, contact:
Belinda Racasa
RippleImpact
Telephone: (310) 316-3100
Fax: (310) 316-9500
media@rippleimpact.com
http://www.rippleimpact.com
RippleImpact is a software development division focusing
on custom object oriented applications and enterprise
internet software solutions. It is a division of Philosopher's
Stone Ventures, a high technology incubator based
in Southern California.
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