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  • 26 Jun 2017
    An entrepreneur goes through a lot of uncertainty and is bound to make mistakes on its way to success. It is always easy to preach in hindsight, but to understand the circumstances in which a decision was made. Every mistake is a step towards wisdom and a smart forward looking approach to learning from mistakes is not "oops." but "ah, interesting."  This boosts the morale while acknowledging the mistake as learning on the personal and professional growth curve.  That being said, repeating a mistake is considered as complacence and successful entrepreneurs are never complacent. Smart entrepreneurs learn from others. When on a mission with unknowns, you might not have all the answers, but learning from others increases your chances of success. Here are 5 most common mistakes that should be avoided at all costs.   1. Working without a Budget In business, the bottom line matters. An entrepreneur invests significant amount of time and money into building the business. Investments are valued by returns and returns are calculated on basis of a plan where you budget for everything as per plan.  Having a budget forces us to make thoughtful choices. A budget is not merely about expenditure; but about opportunity cost of capital. Budgets establish fiscal discipline, while ensuring that the capital is made available to the most attractive investment opportunities. Operating without a budget is like taking a journey without a destination. An entrepreneur without budget is like a ship without a propeller - it is bound to stray.  Never ever undertake a venture without a budget.   2. Losing Vision. Entrepreneurs always have a vision where they see an opportunity and create a product to capitalize it. It is usually during the struggle or growth that some lose the sight and compromise. That's like charting a course to Singapore, but losing sight and drifting away to No man’s land while navigating rough waters. It's not that you take head on with high waves, but you adjust course to sail through rough seas with destination in your mind. Never ever lose sight of your vision.   3. Overconfidence Confidence is a must but overconfidence is killing. Whether you are seasoned professional or an amateur, you need to do your homework and prepare for unforeseen challenges. You may be attending a negotiation or signing a partnership deal, unless you have the strategized, you are likely to make mistakes. You may have been luckier but don’t take chances as there’s no substitute for hard work. Do your due diligence and boost your chances to success. You may be the smartest but business in many ways is synonymous with battlefield with competition and unfavorable circumstances playing your enemy. Prepare for the known and take attach the challenges with confidence. Stay away from overconfidence.   4. Habit of Do it all Yourself A good leader knows the art of delegation. You may be willing to undertake it all by yourself, but in doing so, you are setting up yourself for failure. You will not only burn out but create situations that may be detrimental to your success. Remember that you can be at one place and can undertake just one task at any point of time.  Businesses are dynamic with multiple fronts. Call for help, hire trustworthy people or outsource, but avoid doing it all by yourself.   5. Driven by Money and not Passion Passion is the single most important asset of an entrepreneur and if you aren’t passionate, then you will never be successful. Money is a byproduct of passion. Your passion defines your mission, mission to do something bigger. Elon Musk’s mission is to conquer Mars and that has driven the success of SpaceX.  Henry Ford’s mission was to build an affordable car and that created a profitable Automotive Company.   
    6 Posted by Sandeep Maurya
  • An entrepreneur goes through a lot of uncertainty and is bound to make mistakes on its way to success. It is always easy to preach in hindsight, but to understand the circumstances in which a decision was made. Every mistake is a step towards wisdom and a smart forward looking approach to learning from mistakes is not "oops." but "ah, interesting."  This boosts the morale while acknowledging the mistake as learning on the personal and professional growth curve.  That being said, repeating a mistake is considered as complacence and successful entrepreneurs are never complacent. Smart entrepreneurs learn from others. When on a mission with unknowns, you might not have all the answers, but learning from others increases your chances of success. Here are 5 most common mistakes that should be avoided at all costs.   1. Working without a Budget In business, the bottom line matters. An entrepreneur invests significant amount of time and money into building the business. Investments are valued by returns and returns are calculated on basis of a plan where you budget for everything as per plan.  Having a budget forces us to make thoughtful choices. A budget is not merely about expenditure; but about opportunity cost of capital. Budgets establish fiscal discipline, while ensuring that the capital is made available to the most attractive investment opportunities. Operating without a budget is like taking a journey without a destination. An entrepreneur without budget is like a ship without a propeller - it is bound to stray.  Never ever undertake a venture without a budget.   2. Losing Vision. Entrepreneurs always have a vision where they see an opportunity and create a product to capitalize it. It is usually during the struggle or growth that some lose the sight and compromise. That's like charting a course to Singapore, but losing sight and drifting away to No man’s land while navigating rough waters. It's not that you take head on with high waves, but you adjust course to sail through rough seas with destination in your mind. Never ever lose sight of your vision.   3. Overconfidence Confidence is a must but overconfidence is killing. Whether you are seasoned professional or an amateur, you need to do your homework and prepare for unforeseen challenges. You may be attending a negotiation or signing a partnership deal, unless you have the strategized, you are likely to make mistakes. You may have been luckier but don’t take chances as there’s no substitute for hard work. Do your due diligence and boost your chances to success. You may be the smartest but business in many ways is synonymous with battlefield with competition and unfavorable circumstances playing your enemy. Prepare for the known and take attach the challenges with confidence. Stay away from overconfidence.   4. Habit of Do it all Yourself A good leader knows the art of delegation. You may be willing to undertake it all by yourself, but in doing so, you are setting up yourself for failure. You will not only burn out but create situations that may be detrimental to your success. Remember that you can be at one place and can undertake just one task at any point of time.  Businesses are dynamic with multiple fronts. Call for help, hire trustworthy people or outsource, but avoid doing it all by yourself.   5. Driven by Money and not Passion Passion is the single most important asset of an entrepreneur and if you aren’t passionate, then you will never be successful. Money is a byproduct of passion. Your passion defines your mission, mission to do something bigger. Elon Musk’s mission is to conquer Mars and that has driven the success of SpaceX.  Henry Ford’s mission was to build an affordable car and that created a profitable Automotive Company.   
    Jun 26, 2017 6
  • 23 Jun 2017
     Sitting at home, drinking cold beer, my friend and I had the brilliant idea of playing basketball to offset some of the unhealthy habits in our day-to-day lives. Excited and bubbling with energy we were ready to go. Alas! We had a ball, but it had no air. All the excitement was slowly draining away as we thought of the steps it would take to complete this tedious task. We would have to go all the way to a sports store, buy a pin and then go to a petrol pump to get the air filled. Maybe basketball wasn’t that awesome an idea, was it?   This is where an application called Dunzo came in. Our friend had overheard our conversation and recommended that we use it to save both money and our precious energy. Now you must be wondering what Dunzo does? It is an app made specially for people like you and me. Yes, you know I am talking to you. It’s 2 pm on a Sunday afternoon and you’re sitting on your couch, binge watching Netflix when suddenly your wife/mom tells you that you’re all out of vegetables. You don’t want to get up just to buy ‘Aaloo’ and ‘Bhindi’. This is where Dunzo comes in. You whip out your phone, put in whatever  task you want completed and voilá! Your task is underway and will be completed before you would have even gotten off the couch. Everyone around is impressed by your efficiency and you can go back to watching the latest episode of Game of Thrones.   A successful business idea is one that address a problem that a lot of people face, but have no solution for. Dunzo looks to do the same as it will complete any task from getting groceries to doing your laundry to calling the electrician. This solves a lot of problems that are faced by all of us on a daily basis. First, we get to avoid the heat, dust and traffic faced while completing the smallest of jobs. This convenience that Dunzo provides us is the key to its’ success. In a day and age where everything and anything can be done on your mobile phone, who actually wants to get out of their house to complete a task. Secondly, it saves you the trouble of finding a particular resource. Never called a plumber before? Don’t worry you don’t have to call your friends to find one. Simply get on Dunzo and the job will be done. All this seems to be something out of a dream where you are a King, but let’s face it. Most of us don’t have the money to afford such luxuries. This is where this app goes from a good idea to a real game changer. If the amenity you require is available within a 3 km distance from your house, the delivery charges is simply 45 INR or 0.7 USD. Mind boggling, is it not?   Although this app is currently available in Bangalore only, I have no doubt that it will gain equal traction in other cities as well. With features such as being able to track your good to being able to confirm the good you ordered via pictures, this app takes into account the smallest of details and that is what makes it unique.
    3 Posted by Ruhaan Dev Tyagi
  •  Sitting at home, drinking cold beer, my friend and I had the brilliant idea of playing basketball to offset some of the unhealthy habits in our day-to-day lives. Excited and bubbling with energy we were ready to go. Alas! We had a ball, but it had no air. All the excitement was slowly draining away as we thought of the steps it would take to complete this tedious task. We would have to go all the way to a sports store, buy a pin and then go to a petrol pump to get the air filled. Maybe basketball wasn’t that awesome an idea, was it?   This is where an application called Dunzo came in. Our friend had overheard our conversation and recommended that we use it to save both money and our precious energy. Now you must be wondering what Dunzo does? It is an app made specially for people like you and me. Yes, you know I am talking to you. It’s 2 pm on a Sunday afternoon and you’re sitting on your couch, binge watching Netflix when suddenly your wife/mom tells you that you’re all out of vegetables. You don’t want to get up just to buy ‘Aaloo’ and ‘Bhindi’. This is where Dunzo comes in. You whip out your phone, put in whatever  task you want completed and voilá! Your task is underway and will be completed before you would have even gotten off the couch. Everyone around is impressed by your efficiency and you can go back to watching the latest episode of Game of Thrones.   A successful business idea is one that address a problem that a lot of people face, but have no solution for. Dunzo looks to do the same as it will complete any task from getting groceries to doing your laundry to calling the electrician. This solves a lot of problems that are faced by all of us on a daily basis. First, we get to avoid the heat, dust and traffic faced while completing the smallest of jobs. This convenience that Dunzo provides us is the key to its’ success. In a day and age where everything and anything can be done on your mobile phone, who actually wants to get out of their house to complete a task. Secondly, it saves you the trouble of finding a particular resource. Never called a plumber before? Don’t worry you don’t have to call your friends to find one. Simply get on Dunzo and the job will be done. All this seems to be something out of a dream where you are a King, but let’s face it. Most of us don’t have the money to afford such luxuries. This is where this app goes from a good idea to a real game changer. If the amenity you require is available within a 3 km distance from your house, the delivery charges is simply 45 INR or 0.7 USD. Mind boggling, is it not?   Although this app is currently available in Bangalore only, I have no doubt that it will gain equal traction in other cities as well. With features such as being able to track your good to being able to confirm the good you ordered via pictures, this app takes into account the smallest of details and that is what makes it unique.
    Jun 23, 2017 3
  • 22 Jun 2017
    History was created on 13th April 2017, when President Pranab Mukherjee signed and ratified independent India’s biggest tax reform – Goods & Services Tax.  The bill comes into effect on 1st of July 2017 and promises to unite India as a Union with one tax rate, thereby simplifying transactions across the country. GST Act subsumes several indirect taxes such as custom duty, excise duty, value added tax, service tax, central sales tax, octroi, entry tax, purchase tax etc. and brings them into one common umbrella called GST.   Businesses across the world are excited as they plan to set up their shop in the fastest growing economy in the world. Past three months have seen surge in startups being launched to help businesses and media shows and newspaper articles making people aware of the change. It is also a good time for the accounting firms and tax consultants as they see an opportunity that’s win-win in several ways for them and their clients, however, many are skeptical of the real gains and the complexity of implementation. Businesses are getting new software in place, while smaller players remain concerned about increased compliance requirements.  Let us take a look at some of the common points spoken for and against the bill.   It is generally believed that GST will reduce the administrative and compliance cost drastically for the supply of goods and services by merging around 17 indirect taxes in the value chain. Building consensus for the passage of the GST bill was always difficult in the democratic India.  Alcohol Electricity and Petroleum products are not covered under GST and will continue to be taxed as per the old system. It is a compromise. The challenge in itself was so big that the final outcome in many ways is no better than the existing framework of multiple taxes.  The GST is divided into three parts i.e. CGST, SGST and IGST, which will require businesses to file 3 returns per month or 36 returns per year.  Sounds Like the old wine in new bottle – isn’t it? Now consider this on top of it - A service provider such as an insurer will need registration under each state of operation for SGST.  Now compare it with the existing service tax charged by the center. The services industry in particular is unhappy about the increased burden of compliance.    The biggest beneficiary of the new regime will be the manufacturing and retail industry. While the manufacturers will gain by avoiding multiple taxes and a lower tax rate (approx. 10% lower), retailers who operate PAN India will be saved from the trouble of double taxation. Since goods will move freely from the point of dispatch to the consignee without bureaucratic taxes, corruption and the delays thereof, businesses will be able to plan their inventory and further reduce input costs.    While manufacturing in general will gain, SME’s who were exempted from custom & excise duties will have to bear the full burden of tax and this will lead to increase in the prices of the certain products.  Since the tax advantage available to SME’s will be off, it is likely that the larger players in those sectors will play dominant and will result in closure of many small units.   GST benefits e-commerce in a big way. The industry in the past faced several issues landing goods across states with tedious paperwork that deprived customers in some states of the products available in other states. With no entry tax, logistical issues for the industry are sorted completely and vendors will be able to ship across the country.   The make in India will get the boost with many foreign companies making the much awaited move to set up plants in the country. This will bring foreign capital and improve rupee value and employment conditions. It is anticipated that implementation of GST alone will add 2% to the GDP.  It is a Diwali for the end consumers, who will enjoy savings of at least 10% on their spend on goods.   GST tracks the value chain, collects tax at the point of consumption and provides credit for the taxes paid at the previous milestone. With the multiple stakeholders from the base to end consumer, government will be able to track the channels used for tax evasions. This will bring transparency in the system.  Most critics have talked about the flaw when a particular supplier has failed to comply; its customers will not be able avail input credit. Now this has been done to ensure that system enforces compliances, however, with little and no control and information of the counterparty, this will likely lead to misinformation and confusion.   With some Chief Ministers, voicing their discontent, even before implementation of GST, it is evident that there will be conflicts between the states and the center. With no incentive for fiscal discipline, states will invariably show budget deficits, making center responsible for every nuance in the state machinery.     Change is never easy. Let us bite the bullet as GST is a great start in the positive direction. While the debate is on, only time and experience will help us evolve. For a start, it is good to know that 1st of July, India will operate as a single market and that the stock markets are already on Bull Run anticipating growth. The stage is all set and everyone is bound to get a share of it. The headline on Economic Times today reads “unity among political parties and rollout to be showcased as the unifying force”. The key now is to be GST ready.
    27 Posted by Sandeep Maurya
  • History was created on 13th April 2017, when President Pranab Mukherjee signed and ratified independent India’s biggest tax reform – Goods & Services Tax.  The bill comes into effect on 1st of July 2017 and promises to unite India as a Union with one tax rate, thereby simplifying transactions across the country. GST Act subsumes several indirect taxes such as custom duty, excise duty, value added tax, service tax, central sales tax, octroi, entry tax, purchase tax etc. and brings them into one common umbrella called GST.   Businesses across the world are excited as they plan to set up their shop in the fastest growing economy in the world. Past three months have seen surge in startups being launched to help businesses and media shows and newspaper articles making people aware of the change. It is also a good time for the accounting firms and tax consultants as they see an opportunity that’s win-win in several ways for them and their clients, however, many are skeptical of the real gains and the complexity of implementation. Businesses are getting new software in place, while smaller players remain concerned about increased compliance requirements.  Let us take a look at some of the common points spoken for and against the bill.   It is generally believed that GST will reduce the administrative and compliance cost drastically for the supply of goods and services by merging around 17 indirect taxes in the value chain. Building consensus for the passage of the GST bill was always difficult in the democratic India.  Alcohol Electricity and Petroleum products are not covered under GST and will continue to be taxed as per the old system. It is a compromise. The challenge in itself was so big that the final outcome in many ways is no better than the existing framework of multiple taxes.  The GST is divided into three parts i.e. CGST, SGST and IGST, which will require businesses to file 3 returns per month or 36 returns per year.  Sounds Like the old wine in new bottle – isn’t it? Now consider this on top of it - A service provider such as an insurer will need registration under each state of operation for SGST.  Now compare it with the existing service tax charged by the center. The services industry in particular is unhappy about the increased burden of compliance.    The biggest beneficiary of the new regime will be the manufacturing and retail industry. While the manufacturers will gain by avoiding multiple taxes and a lower tax rate (approx. 10% lower), retailers who operate PAN India will be saved from the trouble of double taxation. Since goods will move freely from the point of dispatch to the consignee without bureaucratic taxes, corruption and the delays thereof, businesses will be able to plan their inventory and further reduce input costs.    While manufacturing in general will gain, SME’s who were exempted from custom & excise duties will have to bear the full burden of tax and this will lead to increase in the prices of the certain products.  Since the tax advantage available to SME’s will be off, it is likely that the larger players in those sectors will play dominant and will result in closure of many small units.   GST benefits e-commerce in a big way. The industry in the past faced several issues landing goods across states with tedious paperwork that deprived customers in some states of the products available in other states. With no entry tax, logistical issues for the industry are sorted completely and vendors will be able to ship across the country.   The make in India will get the boost with many foreign companies making the much awaited move to set up plants in the country. This will bring foreign capital and improve rupee value and employment conditions. It is anticipated that implementation of GST alone will add 2% to the GDP.  It is a Diwali for the end consumers, who will enjoy savings of at least 10% on their spend on goods.   GST tracks the value chain, collects tax at the point of consumption and provides credit for the taxes paid at the previous milestone. With the multiple stakeholders from the base to end consumer, government will be able to track the channels used for tax evasions. This will bring transparency in the system.  Most critics have talked about the flaw when a particular supplier has failed to comply; its customers will not be able avail input credit. Now this has been done to ensure that system enforces compliances, however, with little and no control and information of the counterparty, this will likely lead to misinformation and confusion.   With some Chief Ministers, voicing their discontent, even before implementation of GST, it is evident that there will be conflicts between the states and the center. With no incentive for fiscal discipline, states will invariably show budget deficits, making center responsible for every nuance in the state machinery.     Change is never easy. Let us bite the bullet as GST is a great start in the positive direction. While the debate is on, only time and experience will help us evolve. For a start, it is good to know that 1st of July, India will operate as a single market and that the stock markets are already on Bull Run anticipating growth. The stage is all set and everyone is bound to get a share of it. The headline on Economic Times today reads “unity among political parties and rollout to be showcased as the unifying force”. The key now is to be GST ready.
    Jun 22, 2017 27
  • 22 Jun 2017
    Ask someone remotely tracking technology about the next big thing that will reshape the world and most likely the answer will be “Artificial Intelligence”.  If your next question is – “You mean Machine Learning?” – You are likely to get a shot back – Aren’t they one and the same thing?  That’s precisely the status of the so called AI chat bots in the market today. The concept used is machine learning based on data warehouses and the flaw is a lack of understanding of human neural networks that lead to human mood swings and behavior changes. The absence of this inherent human intelligence gives them the reputation of being “Silly” – Remotely what “Artificial Intelligence” is destined to be. Most AI chat bots currently in the market are unsophisticated and repeat a set script dependent on what is typed into the chat boxes. As are the genuine advances, so is the hype, where almost 30,000 chat bots were launched soon after Facebook opened its messenger APIs.   The next rung of chat bots will move away from ‘forced flow’ to ‘recommended flow' and 'Spatial Intelligence'. They will recognize constraints and develop a solution most appropriate in the given circumstances. If a user is restricted to what you want him to do, and the way you want him to, he would quickly lose interest and in all probability, not come back to you again. Upcoming chatbots will be able to guide the user and indulge in human emotions. The recipe for success will be engaging and building trust by leveraging the power of conversations. This will be the first step for evolution of ‘Artificial Intelligence”.   So what exactly is Artificial Intelligence? Can it mimic all the functions of a human brain? What is the proper form of mathematics that may capture the operation of minds and brains? What about consciousness, sense of self & ethical conduct? Though the technology today is rudimentary, it is evolving fast to prepare the stage where machines will be “smart” with human IQ, EQ and HQ.   In 2015, AI became the next technological wave when Google paid US$400 million to acquire Deep Minds, a company working on training a machine to figure out natural language and instructions. Past two years have seen dozens of Artificial Intelligence startups in healthcare and education being acquired by global giants. The quest is to develop a blue print of the best of the human minds and the first step in this process of evolution is “conversation”- natural conversation. It requires a bot to combine its understanding of the conversation with its knowledge of the world to produce a new sentence that perfectly fits the situation and helps it achieve its goals. Natural conversations will help build the knowledge platform for the future of what I call as “Artificial Intelligence” with machines that can replace humans on any given task. That’s a process called “deep reinforcement learning” that will lead to what many call as second industrial revolution. Deep Reinforcement Learning will utilize a combination of neural networks, on open AI platforms, to devise an artificial human brain capable of undertaking complex tasks such as detecting the real intent of the person that it is speaking to.   As the AI technology evolves, its increased sophistication has been admitted to be a cause to both celebrate and worry. It is forecasted that by 2030, NY Times will be printed end to end by AI Bots.  Professor Stephen Hawking warns that the age of Terminators is coming, where machines will rise up and overtake humans in the evolutionary race.
    70 Posted by Sandeep Maurya
  • Ask someone remotely tracking technology about the next big thing that will reshape the world and most likely the answer will be “Artificial Intelligence”.  If your next question is – “You mean Machine Learning?” – You are likely to get a shot back – Aren’t they one and the same thing?  That’s precisely the status of the so called AI chat bots in the market today. The concept used is machine learning based on data warehouses and the flaw is a lack of understanding of human neural networks that lead to human mood swings and behavior changes. The absence of this inherent human intelligence gives them the reputation of being “Silly” – Remotely what “Artificial Intelligence” is destined to be. Most AI chat bots currently in the market are unsophisticated and repeat a set script dependent on what is typed into the chat boxes. As are the genuine advances, so is the hype, where almost 30,000 chat bots were launched soon after Facebook opened its messenger APIs.   The next rung of chat bots will move away from ‘forced flow’ to ‘recommended flow' and 'Spatial Intelligence'. They will recognize constraints and develop a solution most appropriate in the given circumstances. If a user is restricted to what you want him to do, and the way you want him to, he would quickly lose interest and in all probability, not come back to you again. Upcoming chatbots will be able to guide the user and indulge in human emotions. The recipe for success will be engaging and building trust by leveraging the power of conversations. This will be the first step for evolution of ‘Artificial Intelligence”.   So what exactly is Artificial Intelligence? Can it mimic all the functions of a human brain? What is the proper form of mathematics that may capture the operation of minds and brains? What about consciousness, sense of self & ethical conduct? Though the technology today is rudimentary, it is evolving fast to prepare the stage where machines will be “smart” with human IQ, EQ and HQ.   In 2015, AI became the next technological wave when Google paid US$400 million to acquire Deep Minds, a company working on training a machine to figure out natural language and instructions. Past two years have seen dozens of Artificial Intelligence startups in healthcare and education being acquired by global giants. The quest is to develop a blue print of the best of the human minds and the first step in this process of evolution is “conversation”- natural conversation. It requires a bot to combine its understanding of the conversation with its knowledge of the world to produce a new sentence that perfectly fits the situation and helps it achieve its goals. Natural conversations will help build the knowledge platform for the future of what I call as “Artificial Intelligence” with machines that can replace humans on any given task. That’s a process called “deep reinforcement learning” that will lead to what many call as second industrial revolution. Deep Reinforcement Learning will utilize a combination of neural networks, on open AI platforms, to devise an artificial human brain capable of undertaking complex tasks such as detecting the real intent of the person that it is speaking to.   As the AI technology evolves, its increased sophistication has been admitted to be a cause to both celebrate and worry. It is forecasted that by 2030, NY Times will be printed end to end by AI Bots.  Professor Stephen Hawking warns that the age of Terminators is coming, where machines will rise up and overtake humans in the evolutionary race.
    Jun 22, 2017 70
  • 09 Jun 2017
    E-commerce seems to be dead as a new business to many, except when they see startups like “Licious”- An ecommerce company providing meat at your doorstep at a press of a button.   Time is precious and Licious packages it as a value proposition along with the best quality processed meat for its premium customer.  The company was founded by Abhay Hanjura and Vivek Gupta in 2015.   Abhay and vivek loved lamb chops and fish steak, but every time they ordered those from a restaurant, they found the food lacked texture and was often insipid. They researched and found that when meat was stored between 0-5 degrees centigrade it remained fresh, but when deep-frozen for longer use, it became hard and tasteless. This led to a business plan to deliver fresh and hygienic meat at the customer's doorstep - a product curated based on the customer need.   Maths and cash flow economics is important in ensuring that you create value. “We follow Zero inventory model and have perfected the art of estimating demand with hardly any wastage. Customers can order online through our application or by calling us between 8 am- 8 pm, getting free shipping for a minimum order value of INR 300. ”, says co-founder Abhay Hanjura.   Licious raised $1 million seed funding in 2015, $3 million in Series A funding in 2016 and $10 million in Series B funding in 2017.  Scalability and delivery model have created the magic. A former finance controller at venture fund ‘Helion Advisors’ Vivek Gupta says, “Our model for every city will be one central processing centre with 8-10 delivery hubs. Larger cities may have 2-3 processing centre and 15-20 hubs”. In Bangalore they now have about 50,000 orders a month, averaging at about 1,500-1,700 per order and a customer base of about 30,000 users. Before the end of the October they are plan to reach the target at 1, 00, 000 order per month.   Swiggy, a food delivery app, has invented a new model of food delivery with delivery boys collecting paychecks at point of delivery. The model which focuses on keeping the kitchens running for the restaurants for their profitability has been received warmly by the investors when the large ecommerce players such as Snapdeal are shutting shop. Discovery of need, greater personalization and a better customer experience will define future businesses in the ecommerce. Customers will welcome those offering solutions that do not exist and experience that is similar to in store purchase. The product quality both online and offline will be the success mantra for newer players in the market. Product curation with product knowledge and expertise will be required to make it more enjoyable and all rounded experience for the customers.   Ecommerce is ultimately about presentation, execution and the math around it. If you get it right, the rest will follow. The next wave of ecommerce will be Artificial intelligence with revolutionary algorithms, optimizing experience, cost and speed of delivery. This will be a game changer and those who take the lead will be the next ecommerce giants.  
    336 Posted by Sandeep Maurya
  • E-commerce seems to be dead as a new business to many, except when they see startups like “Licious”- An ecommerce company providing meat at your doorstep at a press of a button.   Time is precious and Licious packages it as a value proposition along with the best quality processed meat for its premium customer.  The company was founded by Abhay Hanjura and Vivek Gupta in 2015.   Abhay and vivek loved lamb chops and fish steak, but every time they ordered those from a restaurant, they found the food lacked texture and was often insipid. They researched and found that when meat was stored between 0-5 degrees centigrade it remained fresh, but when deep-frozen for longer use, it became hard and tasteless. This led to a business plan to deliver fresh and hygienic meat at the customer's doorstep - a product curated based on the customer need.   Maths and cash flow economics is important in ensuring that you create value. “We follow Zero inventory model and have perfected the art of estimating demand with hardly any wastage. Customers can order online through our application or by calling us between 8 am- 8 pm, getting free shipping for a minimum order value of INR 300. ”, says co-founder Abhay Hanjura.   Licious raised $1 million seed funding in 2015, $3 million in Series A funding in 2016 and $10 million in Series B funding in 2017.  Scalability and delivery model have created the magic. A former finance controller at venture fund ‘Helion Advisors’ Vivek Gupta says, “Our model for every city will be one central processing centre with 8-10 delivery hubs. Larger cities may have 2-3 processing centre and 15-20 hubs”. In Bangalore they now have about 50,000 orders a month, averaging at about 1,500-1,700 per order and a customer base of about 30,000 users. Before the end of the October they are plan to reach the target at 1, 00, 000 order per month.   Swiggy, a food delivery app, has invented a new model of food delivery with delivery boys collecting paychecks at point of delivery. The model which focuses on keeping the kitchens running for the restaurants for their profitability has been received warmly by the investors when the large ecommerce players such as Snapdeal are shutting shop. Discovery of need, greater personalization and a better customer experience will define future businesses in the ecommerce. Customers will welcome those offering solutions that do not exist and experience that is similar to in store purchase. The product quality both online and offline will be the success mantra for newer players in the market. Product curation with product knowledge and expertise will be required to make it more enjoyable and all rounded experience for the customers.   Ecommerce is ultimately about presentation, execution and the math around it. If you get it right, the rest will follow. The next wave of ecommerce will be Artificial intelligence with revolutionary algorithms, optimizing experience, cost and speed of delivery. This will be a game changer and those who take the lead will be the next ecommerce giants.  
    Jun 09, 2017 336
  • 09 Jun 2017
    Sound can prove existence of a life in outer space. In physics, sound is a vibration that propagates as a mechanical wave, through the transmission medium such as air or water. Tonetag took this concept to payments.   The Bangalore based startup was founded in 2014 by Kumar Abhishek along with his friend Vivek Singh (Co-founder).  Kumar worked at IBM, Infosys and Mind Tree Consultancy before launching Tonetag with investments from Angel Investors - Mr. Ram Sellaratnam and Mr. Rajesh Yohahanna. Tonetag uses NFC technology available in most smart phones to facilitate ‘card less’, ‘cashless’ & ‘contactless’ payment through smart phone or mobile.  Its works on any mobile device and no internet is required on the user device at the time of initiating payment. The payment mode is more secure than other available methods with 3 layers of encryption, tokenization, HCE and White Box Cryptography. Shoppers Stop, India’s leading fashion retailer, Nandi Infrastructure Corridor Enterprises (NICE) Toll Plaza, and Yes Bank one of the largest leading bank in India, retail pharmacy chain Trust Chemists and Druggists have partnered with ToneTag to provide an advanced payment solution to their customers.Tonetag has also partnered with other banks and digital wallets, including HDFC Bank Ltd, ICICI Bank Ltd, Freecharge and Airtel, who cumulatively have a user base of more than 40 million Indians.   Tontag, raised $1 million in funding from Reliance Venture Asset Management in August 2015. Other investors include Nasscom foundation trustee Arun Seth, Manipal Global Education chairman T.V. Mohandas Pai, Snapdeal’s ex-chief product officer Anand Chandrasekaran and Gencoval Strategic Services Pvt. Ltd chairman Deepak Ghaisas.   NFC in itself is nothing new.  Apple Pay uses the same technology globally and is one of the preferred payment methods in the industry. NFC has found several other applications such as medical devices.  Investments seen in Tonetag and the traction that the company has, indicate the potential of future technologies in Payments space.   Fintech remains as one of the hottest investment category in the startup space and many new technologies are making way. Acceptance of blockchain has opened many more doors for new players to offer more innovative and secured solutions.  One, who truly converts money into a digital currency that is accepted globally, will win the game and Bitcoin has the lead today. The interfaces facilitating payments in those currencies will have several faces and companies merging to facilitate those transactions will be the future of Payments.
    120 Posted by Sandeep Maurya
  • Sound can prove existence of a life in outer space. In physics, sound is a vibration that propagates as a mechanical wave, through the transmission medium such as air or water. Tonetag took this concept to payments.   The Bangalore based startup was founded in 2014 by Kumar Abhishek along with his friend Vivek Singh (Co-founder).  Kumar worked at IBM, Infosys and Mind Tree Consultancy before launching Tonetag with investments from Angel Investors - Mr. Ram Sellaratnam and Mr. Rajesh Yohahanna. Tonetag uses NFC technology available in most smart phones to facilitate ‘card less’, ‘cashless’ & ‘contactless’ payment through smart phone or mobile.  Its works on any mobile device and no internet is required on the user device at the time of initiating payment. The payment mode is more secure than other available methods with 3 layers of encryption, tokenization, HCE and White Box Cryptography. Shoppers Stop, India’s leading fashion retailer, Nandi Infrastructure Corridor Enterprises (NICE) Toll Plaza, and Yes Bank one of the largest leading bank in India, retail pharmacy chain Trust Chemists and Druggists have partnered with ToneTag to provide an advanced payment solution to their customers.Tonetag has also partnered with other banks and digital wallets, including HDFC Bank Ltd, ICICI Bank Ltd, Freecharge and Airtel, who cumulatively have a user base of more than 40 million Indians.   Tontag, raised $1 million in funding from Reliance Venture Asset Management in August 2015. Other investors include Nasscom foundation trustee Arun Seth, Manipal Global Education chairman T.V. Mohandas Pai, Snapdeal’s ex-chief product officer Anand Chandrasekaran and Gencoval Strategic Services Pvt. Ltd chairman Deepak Ghaisas.   NFC in itself is nothing new.  Apple Pay uses the same technology globally and is one of the preferred payment methods in the industry. NFC has found several other applications such as medical devices.  Investments seen in Tonetag and the traction that the company has, indicate the potential of future technologies in Payments space.   Fintech remains as one of the hottest investment category in the startup space and many new technologies are making way. Acceptance of blockchain has opened many more doors for new players to offer more innovative and secured solutions.  One, who truly converts money into a digital currency that is accepted globally, will win the game and Bitcoin has the lead today. The interfaces facilitating payments in those currencies will have several faces and companies merging to facilitate those transactions will be the future of Payments.
    Jun 09, 2017 120
  • 07 Jun 2017
    Startup founders go through unknown and scary odds. Statistics shows that more than 50% of them close their shops within 12 months from the date of start of their operations.  Entrepreneurship is tough and it only gets tougher in the initial few years of operations. It needs more than dedication to succeed as a founder.   Starting with basics, successful founders are great CFOs and exceptional CMOs. Even without being to a b-school, they consistently work on differentiating their product from their rivals and ensure that they never run out of cash. They excel at building strong relationships. Beyond winning over key customers and strategic partners, they turn out to be role models for their employees.   Most start-up founders are prepared to fight for their ideas.  Passion is so important and founders should fight for their ideas, but when assumptions seem to fail one after the other, being ready to let go their ideas entirely can as valuable. When investors tear apart your latest business plan or question the market strategy, it is obvious that you may become defensive. Investors may not be right and you need strong conviction in your own ideas, but you should be open to see things from another angle and prepared to take the right action.   They all have a vision, that crystal ball mentality to project into the future. They are ambitious and aim to make a larger impact. Above all they are resilient and brave enough to swim across the toughest.  What makes or breaks a Company are this perseverance and the can-do attitude. They are inherent optimists which brings them higher level of resourcefulness. They see opportunities and capitalize on them.   Successful founders are also great communicators. One needs to have difficult internal conversations without getting emotional and building any kind of resentment. Settle when you need to, but avoid being too personal about your thoughts or about expectations from others. Sometimes it will feel almost like a marriage and your relationship will be tested, so you're going to have to genuinely build trust.   The best of them are insatiably curious about how to improve their business model. Great founders are excited and intrigued by criticism but are not afraid to ask their customers to pay for the product or service on offer. This way they not only build trust in their product, but also create a pipeline for future.  They adapt to think like their customers and when they do so, they end up creating a successful enterprise.
    139 Posted by Sandeep Maurya
  • Startup founders go through unknown and scary odds. Statistics shows that more than 50% of them close their shops within 12 months from the date of start of their operations.  Entrepreneurship is tough and it only gets tougher in the initial few years of operations. It needs more than dedication to succeed as a founder.   Starting with basics, successful founders are great CFOs and exceptional CMOs. Even without being to a b-school, they consistently work on differentiating their product from their rivals and ensure that they never run out of cash. They excel at building strong relationships. Beyond winning over key customers and strategic partners, they turn out to be role models for their employees.   Most start-up founders are prepared to fight for their ideas.  Passion is so important and founders should fight for their ideas, but when assumptions seem to fail one after the other, being ready to let go their ideas entirely can as valuable. When investors tear apart your latest business plan or question the market strategy, it is obvious that you may become defensive. Investors may not be right and you need strong conviction in your own ideas, but you should be open to see things from another angle and prepared to take the right action.   They all have a vision, that crystal ball mentality to project into the future. They are ambitious and aim to make a larger impact. Above all they are resilient and brave enough to swim across the toughest.  What makes or breaks a Company are this perseverance and the can-do attitude. They are inherent optimists which brings them higher level of resourcefulness. They see opportunities and capitalize on them.   Successful founders are also great communicators. One needs to have difficult internal conversations without getting emotional and building any kind of resentment. Settle when you need to, but avoid being too personal about your thoughts or about expectations from others. Sometimes it will feel almost like a marriage and your relationship will be tested, so you're going to have to genuinely build trust.   The best of them are insatiably curious about how to improve their business model. Great founders are excited and intrigued by criticism but are not afraid to ask their customers to pay for the product or service on offer. This way they not only build trust in their product, but also create a pipeline for future.  They adapt to think like their customers and when they do so, they end up creating a successful enterprise.
    Jun 07, 2017 139
  • 05 Jun 2017
    Just having completed my first year of university in Canada, I came back to India for the four months of summer break. It dawned upon me on arrival that four months is a long time to sit at home, while my competition gets ahead by doing all sorts of productive work. This is when I decided to look for an internship and realized how tough it was to get a job in this competitive market and it certainly doesn’t get easier with time.   Student Unnati is a startup that is looking to solve this very problem. Students want to get hands on experience in their field of work and companies want promising employees before they are snatched from the market by someone else. The beauty of the system that Student Unnati proposes is the inclusion of the colleges in this entire process and this is how it differs from all the other internship providing web-platforms. When the colleges get involved in the application process, companies have much more faith in the information provided by the students. They can also broadly judge the level of intelligence of the students, given the reputation of the college. Other platforms require you to self-report the required information, and while this information might be mostly correct, it will certainly be much more credible coming from the college. On the other hand, the students will be more willing to apply and work at the available jobs too. There is a level of assurance that is provided to the students when they apply for a job that is deemed appropriate by the college. The fact that the college approves of the company offering the job sends a message to the students that is far greater than commonly anticipated. For the student it means that the company is reputable and will provide them with value for their time. While some companies have a strong reputation that does not require this assurance, the fact of the matter is that for most up and coming companies, this could be a huge boost.   While the aforementioned are clearly advantages to this system, there is more to it than just that. While this idea is clearly a well thought one, the thing that I feel is new and could be a potential game changer is the entire process of giving the student a score based on his/her performance. How often have we in our day to day lives decided to try an unknown restaurant or place solely based on its rating on the Internet. The system that Student Unnati proposes is to treat the students as if they were a restaurant and the companies, as hungry customers. All the other established online portals rate the student prospects on the basis of the information that is provided by the students themselves. While marks and the tests you give are certainly an indication of some of the talents you possess, it is safe to say that companies are more interested in how you work with real, live projects of actual value. Just like the customers of a restaurant are more interested in how the dish served tastes, rather than the qualifications of the chef cooking it. Hence every project that you complete will be like a dish you serve, to be rated by the company. This will also provide incentive to the students, not just to secure a live project but to actually put hard work into it and then be rewarded for the work they do, not just with a high rating but with future job opportunities as well.   In order to understand how this project will thrive we need to crunch a few numbers. The number of Engineering colleges has gone from 1,511 in 2006-07 to 3,345 in 2014-15. Out of all the 1.5 million Engineering graduates every year, 20-30% risk not getting a job at all. This is due to variety of reasons such as, not being cut out for the job or simply not being provided with enough job opportunities in comparison to the number of graduates. This model looks to solve both the problems at the same time. The people that are not cut out of the job will be weeded out because of the rating system and the number of job opportunities will drastically increase due to the chance to work on single projects. Because the projects are live, companies from all over the world can employ these students regardless of location. Also if companies will be hiring on the basis of requirement of the projects, multiple students can be employed by one company rather than them hiring just a few interns to work on all the projects. This also benefits the company as they will be able to choose interns who are right for the job and will be dedicated to doing that one project properly. Finally, the colleges benefit from this as well, as their reputation with companies can be affected by the students they send. This can work to the advantage of new colleges who are looking to make their mark in the field, with both prospective students and employers. Prospective students will certainly be lured with the opportunity to work and earn money, while being given an opportunity to exponentially increase their chances for future employment.   There are certainly many challenges to be overcome before this project can be called successful, but it certainly has what it takes to be considered in all seriousness by investors with a well thought and feasible plan. The education market is growing at an unparalleled rate and this idea can be the one to take advantage of this change, with its ideology set behind giving advantage to real world success rather than just book learning. This is an opportunity for colleges, corporations and most importantly students to be able to showcase their talent and knowledge and is something that I for one would certainly recommend.
    32 Posted by Ruhaan Dev Tyagi
  • Just having completed my first year of university in Canada, I came back to India for the four months of summer break. It dawned upon me on arrival that four months is a long time to sit at home, while my competition gets ahead by doing all sorts of productive work. This is when I decided to look for an internship and realized how tough it was to get a job in this competitive market and it certainly doesn’t get easier with time.   Student Unnati is a startup that is looking to solve this very problem. Students want to get hands on experience in their field of work and companies want promising employees before they are snatched from the market by someone else. The beauty of the system that Student Unnati proposes is the inclusion of the colleges in this entire process and this is how it differs from all the other internship providing web-platforms. When the colleges get involved in the application process, companies have much more faith in the information provided by the students. They can also broadly judge the level of intelligence of the students, given the reputation of the college. Other platforms require you to self-report the required information, and while this information might be mostly correct, it will certainly be much more credible coming from the college. On the other hand, the students will be more willing to apply and work at the available jobs too. There is a level of assurance that is provided to the students when they apply for a job that is deemed appropriate by the college. The fact that the college approves of the company offering the job sends a message to the students that is far greater than commonly anticipated. For the student it means that the company is reputable and will provide them with value for their time. While some companies have a strong reputation that does not require this assurance, the fact of the matter is that for most up and coming companies, this could be a huge boost.   While the aforementioned are clearly advantages to this system, there is more to it than just that. While this idea is clearly a well thought one, the thing that I feel is new and could be a potential game changer is the entire process of giving the student a score based on his/her performance. How often have we in our day to day lives decided to try an unknown restaurant or place solely based on its rating on the Internet. The system that Student Unnati proposes is to treat the students as if they were a restaurant and the companies, as hungry customers. All the other established online portals rate the student prospects on the basis of the information that is provided by the students themselves. While marks and the tests you give are certainly an indication of some of the talents you possess, it is safe to say that companies are more interested in how you work with real, live projects of actual value. Just like the customers of a restaurant are more interested in how the dish served tastes, rather than the qualifications of the chef cooking it. Hence every project that you complete will be like a dish you serve, to be rated by the company. This will also provide incentive to the students, not just to secure a live project but to actually put hard work into it and then be rewarded for the work they do, not just with a high rating but with future job opportunities as well.   In order to understand how this project will thrive we need to crunch a few numbers. The number of Engineering colleges has gone from 1,511 in 2006-07 to 3,345 in 2014-15. Out of all the 1.5 million Engineering graduates every year, 20-30% risk not getting a job at all. This is due to variety of reasons such as, not being cut out for the job or simply not being provided with enough job opportunities in comparison to the number of graduates. This model looks to solve both the problems at the same time. The people that are not cut out of the job will be weeded out because of the rating system and the number of job opportunities will drastically increase due to the chance to work on single projects. Because the projects are live, companies from all over the world can employ these students regardless of location. Also if companies will be hiring on the basis of requirement of the projects, multiple students can be employed by one company rather than them hiring just a few interns to work on all the projects. This also benefits the company as they will be able to choose interns who are right for the job and will be dedicated to doing that one project properly. Finally, the colleges benefit from this as well, as their reputation with companies can be affected by the students they send. This can work to the advantage of new colleges who are looking to make their mark in the field, with both prospective students and employers. Prospective students will certainly be lured with the opportunity to work and earn money, while being given an opportunity to exponentially increase their chances for future employment.   There are certainly many challenges to be overcome before this project can be called successful, but it certainly has what it takes to be considered in all seriousness by investors with a well thought and feasible plan. The education market is growing at an unparalleled rate and this idea can be the one to take advantage of this change, with its ideology set behind giving advantage to real world success rather than just book learning. This is an opportunity for colleges, corporations and most importantly students to be able to showcase their talent and knowledge and is something that I for one would certainly recommend.
    Jun 05, 2017 32
  • 11 May 2017
    It’s correctly said that “When the going gets tough, the tough gets going”, I can bet on the fact that most of the students can relate to this saying. When the phrase “College Life” is discussed, there are two point of views, one from the non-students who think that college is a place where students have a gala time enjoying their freedom away from the clutches of discipline which was imposed by teachers in school and parents at home. Now the second point of view that is “us” -the students, we have high level of aspirations, for new learning, experiences, social life, opportunities etc.   Now let me tell you about the scenario at a B-school, does words like presentations, projects, and research ring a bell?No!Actually words like sleepless night, grades, over competitive crowd, placements etc. ring a freaking “ALARAM!!!”   Yes a B-school is a place that will test you on all the levels, mentally, physically and emotionally.   A student there has a lot on his/her plate from handling the cultural shocks, to struggling with academic and non-academic activities. To be honest, yes it takes a toll on you and the worst part is that you have no one to cry about your misery, no consoling parents, and no innocent school/college teachers who would fall for our silly excuses. Why so? Because in a B-school everybody is part of a rat race, they just need a chance for you to slip and in no time you will be the stepping stone for the other person. The truth is, in a B-school you are all alone to fight for your success and failure. You are the only one to accompany yourself in your good or bad days.   This description of a B-school must have created a very disturbing image of the place being a very brutal one. Yes it is a WAR!!! Out there. But the good part is that great warriors come out victorious out of that war. Yes you really are moulded in the best possible way when you go through all the hardships and come out as the best manager who can handle all sorts of problems for the business.   Believe me, you will get those days (and that too very frequently) when your body and mind with every ounce of strength they have, will emit the feeling to give up. That is the most crucial moment where you will remember about the low grades, late submissions, treatment from the professors, failures etc. But when you overcome that moment of weakness and decide to continue no matter what, then nothing can stop you from achieving your goals.   You know what is the best apart about a B-school, you discover something new about yourselves every day, knowing your limits, how long and how hard you can push yourself to complete the task and that too in a better manner than the others. Trust me, when you really know your true potential, about how worthy you are that gives you true sense of accomplishment and the feeling is way beyond happiness. Yes, it is a magical place where miracles happen daily and success can be in your pocket at the most unexpected times and in unexpected forms. The cherry on the cake is that you become an entirely different person both in terms of knowledge and emotional intelligent, the same concept of the best quality gold coming out of the most rigorous processing applies here.   I call it the “worst case scenario” management. As soon as you think that you have seen the worst and nothing can go wrong now, suddenly you find yourself in a new problem and yes you are tensed for a little while but your mind gets programmed to finding solutions for surviving in the situation. Yes you have the best of the resources, faculties, great friendships for life everything, but “YOU” have to put an extra effort in everything. This place teaches you to be humble, polite sensitive and kind irrespective of your position. There should always be a balance between professionalism and your traits as a human being.   All said and done the above facts can be vouched easily, when you visit the convocation of a B-school and see the smiles on the faces of the freshly graduated batch there is only one expression-“it was all worth it!”   Edited by Tanushree
    107 Posted by Riley Maxwell
  • It’s correctly said that “When the going gets tough, the tough gets going”, I can bet on the fact that most of the students can relate to this saying. When the phrase “College Life” is discussed, there are two point of views, one from the non-students who think that college is a place where students have a gala time enjoying their freedom away from the clutches of discipline which was imposed by teachers in school and parents at home. Now the second point of view that is “us” -the students, we have high level of aspirations, for new learning, experiences, social life, opportunities etc.   Now let me tell you about the scenario at a B-school, does words like presentations, projects, and research ring a bell?No!Actually words like sleepless night, grades, over competitive crowd, placements etc. ring a freaking “ALARAM!!!”   Yes a B-school is a place that will test you on all the levels, mentally, physically and emotionally.   A student there has a lot on his/her plate from handling the cultural shocks, to struggling with academic and non-academic activities. To be honest, yes it takes a toll on you and the worst part is that you have no one to cry about your misery, no consoling parents, and no innocent school/college teachers who would fall for our silly excuses. Why so? Because in a B-school everybody is part of a rat race, they just need a chance for you to slip and in no time you will be the stepping stone for the other person. The truth is, in a B-school you are all alone to fight for your success and failure. You are the only one to accompany yourself in your good or bad days.   This description of a B-school must have created a very disturbing image of the place being a very brutal one. Yes it is a WAR!!! Out there. But the good part is that great warriors come out victorious out of that war. Yes you really are moulded in the best possible way when you go through all the hardships and come out as the best manager who can handle all sorts of problems for the business.   Believe me, you will get those days (and that too very frequently) when your body and mind with every ounce of strength they have, will emit the feeling to give up. That is the most crucial moment where you will remember about the low grades, late submissions, treatment from the professors, failures etc. But when you overcome that moment of weakness and decide to continue no matter what, then nothing can stop you from achieving your goals.   You know what is the best apart about a B-school, you discover something new about yourselves every day, knowing your limits, how long and how hard you can push yourself to complete the task and that too in a better manner than the others. Trust me, when you really know your true potential, about how worthy you are that gives you true sense of accomplishment and the feeling is way beyond happiness. Yes, it is a magical place where miracles happen daily and success can be in your pocket at the most unexpected times and in unexpected forms. The cherry on the cake is that you become an entirely different person both in terms of knowledge and emotional intelligent, the same concept of the best quality gold coming out of the most rigorous processing applies here.   I call it the “worst case scenario” management. As soon as you think that you have seen the worst and nothing can go wrong now, suddenly you find yourself in a new problem and yes you are tensed for a little while but your mind gets programmed to finding solutions for surviving in the situation. Yes you have the best of the resources, faculties, great friendships for life everything, but “YOU” have to put an extra effort in everything. This place teaches you to be humble, polite sensitive and kind irrespective of your position. There should always be a balance between professionalism and your traits as a human being.   All said and done the above facts can be vouched easily, when you visit the convocation of a B-school and see the smiles on the faces of the freshly graduated batch there is only one expression-“it was all worth it!”   Edited by Tanushree
    May 11, 2017 107
  • 05 May 2017
    There is no such thing in planet earth as enough money, unless ofcourse you are there in the Forbes's richest list. Everyone is looking out for money, for one of many reasons. It can be for      A trip to Vegas  or Studying in an Ivy League University  or Funding for the growth of your company. Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors—primarily online via social media and crowdfunding platforms—and leverages their networks for greater reach and exposure. But just starting a crowdfunding campaign doesnot necessarily means you will be swimming in a pool of gold coins like Uncle Scrooge at the end of the campaign. But, it's more about getting Uncle Scrooge care enough to spare some of his coins for your purpose. Now for that to happen, you need to make sure that you follow certain etiquettes to impress your backers and make sure that you are able to make that offer that can't be refused. Here are some of the mantras that may help you run a successful crowdfunding campaign. Share your story Your audience wants to know how you got there, and why you decided it was important to carry it out.  They need to be clear that it is necessary and must pass it in the best way possible. Explain the project, the advantages of support and how essential is the funding to achieve the ultimate goal. The campaign must appear attractive enough so that the audience wants to be part of it.   Don't ask for a fortune Imagine yourself browsing campaigns and you came accross this:- FUNDS FOR VACATION raising $10 millions!! Sounds ridiculous right? Will you ever want to be a part of such campaign? NO?  Hence, before going for a crowdfunding campaign, it's highly essential for you to come up to a genuine figure you want to raise and which you can justify to your audience if asked. Socialize If you launch your campaign with zero audience, you are launching to crickets. Use social networks to publicize your campaign. The exposure on the web can yield new investors.  Using social networks to mailing and other marketing techniques can help boost the campaign. If possible, public relations may work to appear in the media. Video Video clips give visitors a better idea of your project — they can see you or your product in action rather than clicking through a series of static images. They are also labor-intensive, so don’t attempt to put together a clip if you don’t have the time, resources and expertise required. An amateur-looking video isn’t going to convince anyone to get involved, and at worst, could damage your campaign’s credibility. Update regularly Keep everyone, especially backers, informed and updated on how things are going. Whether it’s good news or bad, keep your backers and potential backers in the loop. Sure, a few may ask you to stop spamming but the vast majority will welcome news of progress. Make sure you update your page to reflect any changes to the original plan. Don't release a unique idea unprotected Protect your idea with a patent if you think it's unique as once you release your crowdfunding campaign with an idea, it's there for others to copy and maybe even implement a better version and making it there own. Sounds a bit dark, but it may happen, so better safe than sorry. Don't over-focus on the "Crowd" just because it says Crowdfunding Your first goal always should be to focus on individuals, rather than masses.Your early backers are the ones who might play a critical role that will either make or break your campaign. Positive feedback from early backers tend to attract investment form this so called "Crowd". As once the funds starts rolling in, others tend to follow.   To sum it, approach a crowdfunding campaign as one of your job interviews, not a daily facebook status update and you'll have all the success you want.   Disclaimer- I am not an expert on the subject, these are just some observations going through various successful campaigns.  
    155 Posted by Chirag Saigal
  • There is no such thing in planet earth as enough money, unless ofcourse you are there in the Forbes's richest list. Everyone is looking out for money, for one of many reasons. It can be for      A trip to Vegas  or Studying in an Ivy League University  or Funding for the growth of your company. Crowdfunding is a method of raising capital through the collective effort of friends, family, customers, and individual investors—primarily online via social media and crowdfunding platforms—and leverages their networks for greater reach and exposure. But just starting a crowdfunding campaign doesnot necessarily means you will be swimming in a pool of gold coins like Uncle Scrooge at the end of the campaign. But, it's more about getting Uncle Scrooge care enough to spare some of his coins for your purpose. Now for that to happen, you need to make sure that you follow certain etiquettes to impress your backers and make sure that you are able to make that offer that can't be refused. Here are some of the mantras that may help you run a successful crowdfunding campaign. Share your story Your audience wants to know how you got there, and why you decided it was important to carry it out.  They need to be clear that it is necessary and must pass it in the best way possible. Explain the project, the advantages of support and how essential is the funding to achieve the ultimate goal. The campaign must appear attractive enough so that the audience wants to be part of it.   Don't ask for a fortune Imagine yourself browsing campaigns and you came accross this:- FUNDS FOR VACATION raising $10 millions!! Sounds ridiculous right? Will you ever want to be a part of such campaign? NO?  Hence, before going for a crowdfunding campaign, it's highly essential for you to come up to a genuine figure you want to raise and which you can justify to your audience if asked. Socialize If you launch your campaign with zero audience, you are launching to crickets. Use social networks to publicize your campaign. The exposure on the web can yield new investors.  Using social networks to mailing and other marketing techniques can help boost the campaign. If possible, public relations may work to appear in the media. Video Video clips give visitors a better idea of your project — they can see you or your product in action rather than clicking through a series of static images. They are also labor-intensive, so don’t attempt to put together a clip if you don’t have the time, resources and expertise required. An amateur-looking video isn’t going to convince anyone to get involved, and at worst, could damage your campaign’s credibility. Update regularly Keep everyone, especially backers, informed and updated on how things are going. Whether it’s good news or bad, keep your backers and potential backers in the loop. Sure, a few may ask you to stop spamming but the vast majority will welcome news of progress. Make sure you update your page to reflect any changes to the original plan. Don't release a unique idea unprotected Protect your idea with a patent if you think it's unique as once you release your crowdfunding campaign with an idea, it's there for others to copy and maybe even implement a better version and making it there own. Sounds a bit dark, but it may happen, so better safe than sorry. Don't over-focus on the "Crowd" just because it says Crowdfunding Your first goal always should be to focus on individuals, rather than masses.Your early backers are the ones who might play a critical role that will either make or break your campaign. Positive feedback from early backers tend to attract investment form this so called "Crowd". As once the funds starts rolling in, others tend to follow.   To sum it, approach a crowdfunding campaign as one of your job interviews, not a daily facebook status update and you'll have all the success you want.   Disclaimer- I am not an expert on the subject, these are just some observations going through various successful campaigns.  
    May 05, 2017 155
  • 05 May 2017
    Elon Musk, the greatest innovation juggernaut of our time, does not need an introduction. A man with the exceptional  ability to  walk thousand miles into the future has defied conventional wisdom in realizing the  power of technology. SpaceX and Telsa, two of his greatest creations, are businesses without any significant competition and they continue to set new standards for the entire business and scientific community.   SpaceX founded in 2002,  became the first organization- superseding NASA - to successfully re-launch and land the first stage of an orbital rocket in March 2017.  The success of the mission has opened new doors for the mankind to explore deeper space.  SpaceX is also well on its path to make lunar tourism a reality by 2018.   Telsa the electric carmaker  founded in 2003, unveiled its  Model 3  in March 2016 to take on BMW 3 Series and the Mercedes-Benz C-Class. The all electric beauty hits 60 mph from a standstill in less than 6.0 seconds. With less than 1 % in revenue when compared with General Motors and US$ 1.3 billion in red, Telsa surpassed General Motors to become most valuable US car company by market cap in Apr this year.   Musk and his brother, Kimbal started Zip2, a web software company in 1995. They sold Zip2 for US$ 10 Million in 1999 and Musk co-founded X.com, an online financial services and email payment company with the help of the proceeds. Zip 2 merged with Paypal and Elon made US$ 165 million when E-bay acquired Paypal in 2001. Among others Elon is also founder and CEO of Neuralink; co-founder and chairman of SolarCity and co-chairman of Open Ai.    How did Musk achieve this in such a short duration? Musk claims that he doesn't do something because others think so but Instead he reasons from first principles to arrive at a conclusion that works or doesn't work.  What does that mean? It simply means that he questions every hypothesis until he proves it right or wrong before he draws a conclusions on the premise. So what sets him apart from the majority of us ? Unfortunately most of us work the other way. We derive conclusions and create hypothesis to prove our already derived conclusions.   Like other successful entrepreneurs, Elon is also an avid reader and follows his pursuits with a conviction. Secret to his innovations is also his optimism. He however considers failure is a feasible option. This gives him enthusiasm to take on radically different ideas and pursue them. His ultimate dream is to colonize Mars and he genuinely believes in what he is doing. The ultimate cause rather than immediate gains drive him to continue delivering innovations and impacting human lives.   The Innovator is laser-focused on his interests, intensely curious, overtly optimistic, and unafraid to fail. What about you?        
    164 Posted by Sandeep Maurya
  • Elon Musk, the greatest innovation juggernaut of our time, does not need an introduction. A man with the exceptional  ability to  walk thousand miles into the future has defied conventional wisdom in realizing the  power of technology. SpaceX and Telsa, two of his greatest creations, are businesses without any significant competition and they continue to set new standards for the entire business and scientific community.   SpaceX founded in 2002,  became the first organization- superseding NASA - to successfully re-launch and land the first stage of an orbital rocket in March 2017.  The success of the mission has opened new doors for the mankind to explore deeper space.  SpaceX is also well on its path to make lunar tourism a reality by 2018.   Telsa the electric carmaker  founded in 2003, unveiled its  Model 3  in March 2016 to take on BMW 3 Series and the Mercedes-Benz C-Class. The all electric beauty hits 60 mph from a standstill in less than 6.0 seconds. With less than 1 % in revenue when compared with General Motors and US$ 1.3 billion in red, Telsa surpassed General Motors to become most valuable US car company by market cap in Apr this year.   Musk and his brother, Kimbal started Zip2, a web software company in 1995. They sold Zip2 for US$ 10 Million in 1999 and Musk co-founded X.com, an online financial services and email payment company with the help of the proceeds. Zip 2 merged with Paypal and Elon made US$ 165 million when E-bay acquired Paypal in 2001. Among others Elon is also founder and CEO of Neuralink; co-founder and chairman of SolarCity and co-chairman of Open Ai.    How did Musk achieve this in such a short duration? Musk claims that he doesn't do something because others think so but Instead he reasons from first principles to arrive at a conclusion that works or doesn't work.  What does that mean? It simply means that he questions every hypothesis until he proves it right or wrong before he draws a conclusions on the premise. So what sets him apart from the majority of us ? Unfortunately most of us work the other way. We derive conclusions and create hypothesis to prove our already derived conclusions.   Like other successful entrepreneurs, Elon is also an avid reader and follows his pursuits with a conviction. Secret to his innovations is also his optimism. He however considers failure is a feasible option. This gives him enthusiasm to take on radically different ideas and pursue them. His ultimate dream is to colonize Mars and he genuinely believes in what he is doing. The ultimate cause rather than immediate gains drive him to continue delivering innovations and impacting human lives.   The Innovator is laser-focused on his interests, intensely curious, overtly optimistic, and unafraid to fail. What about you?        
    May 05, 2017 164
  • 03 May 2017
    EU’s €100bn demand to settle Britain’s exit dues has restarted the debate and analysis much run before the referendum, that gave in to protectionism with David Cameroon resigning after Britain voted to separate from EU.    The media is full of its review on the leak and its analysis of the divorce bill, but the bigger question that needs to be reconsidered is whether Brits will be paying for the gains or for the pains of redrawing borders.  Sentiment of British were drawn out of poor job opportunities,  weakening health provision and unaffordable housing, however, with Brexit in force London will not only lose its identity as a global financial hub, but loss of banking jobs and disruption of region's financial stability will likely create severe depression that can only bring more pain.    Investment in the economy will suffer with a business's ability to set up shop in the UK and operate throughout the EU, reducing economic growth rates. Exports subject to EU tariffs will further restrict the ability of the UK to activate that trade engine. Government is likely to give in to new trade partners in an attempt to help growth businesses which will significantly impact manufacturing units such as steel plants.    Technically, Brexit is scheduled for 29 Mar 2019. If the rights of EU citizens in the UK and British nationals in the EU are handled well alongside Britain's financial obligations arising out of exit, the treaty will be executed leading to official exit of the UK from EU. However, UK will not have signed any trade agreements, either with the EU or with its other trade partners anytime before this date. Negotiations may take even 2 to 3 years post 2019, leading to complete chaos on its borders with long queues and delays in transit of the goods. Transportation and transit of people through British ports will be an even tougher issue to handle. Any measures taken by the British Government to avoid such an issue will revolve around Britain getting to use the EU accords for at least a year after 2019. This gives EU an edge as far as the current negotiations are concerned and Britain will have few options but to agree to most of the terms including a €100bn bill offered by EU. The EU’s chief negotiator Michel Barnier has warned that the size of the bill will be “incontestable”.   With Ireland remaining a part of EU, there will be a hard border drawn between UK and Ireland leading to a situation similar in many ways to India-Pakistan division of 1947. "Brexit upsets the apple cart," says Adrian Guelke, professor emeritus of comparative politics at Queen's University in Belfast. "It reopens the question of reunification of Ireland."   For an economy that built the model of capitalism, closing open borders in 21st century seems a bit like giving in  to Marxism. Surely, for the good of the people of the  United Kingdom, principles of free economy and the age of entrepreneurship, it is now a time to call a halt to Brexit and think again about how best to respect the will of the people which was only marginally in the favor of the unrealizable gain and upcoming pain.            
    98 Posted by Sandeep Maurya
  • EU’s €100bn demand to settle Britain’s exit dues has restarted the debate and analysis much run before the referendum, that gave in to protectionism with David Cameroon resigning after Britain voted to separate from EU.    The media is full of its review on the leak and its analysis of the divorce bill, but the bigger question that needs to be reconsidered is whether Brits will be paying for the gains or for the pains of redrawing borders.  Sentiment of British were drawn out of poor job opportunities,  weakening health provision and unaffordable housing, however, with Brexit in force London will not only lose its identity as a global financial hub, but loss of banking jobs and disruption of region's financial stability will likely create severe depression that can only bring more pain.    Investment in the economy will suffer with a business's ability to set up shop in the UK and operate throughout the EU, reducing economic growth rates. Exports subject to EU tariffs will further restrict the ability of the UK to activate that trade engine. Government is likely to give in to new trade partners in an attempt to help growth businesses which will significantly impact manufacturing units such as steel plants.    Technically, Brexit is scheduled for 29 Mar 2019. If the rights of EU citizens in the UK and British nationals in the EU are handled well alongside Britain's financial obligations arising out of exit, the treaty will be executed leading to official exit of the UK from EU. However, UK will not have signed any trade agreements, either with the EU or with its other trade partners anytime before this date. Negotiations may take even 2 to 3 years post 2019, leading to complete chaos on its borders with long queues and delays in transit of the goods. Transportation and transit of people through British ports will be an even tougher issue to handle. Any measures taken by the British Government to avoid such an issue will revolve around Britain getting to use the EU accords for at least a year after 2019. This gives EU an edge as far as the current negotiations are concerned and Britain will have few options but to agree to most of the terms including a €100bn bill offered by EU. The EU’s chief negotiator Michel Barnier has warned that the size of the bill will be “incontestable”.   With Ireland remaining a part of EU, there will be a hard border drawn between UK and Ireland leading to a situation similar in many ways to India-Pakistan division of 1947. "Brexit upsets the apple cart," says Adrian Guelke, professor emeritus of comparative politics at Queen's University in Belfast. "It reopens the question of reunification of Ireland."   For an economy that built the model of capitalism, closing open borders in 21st century seems a bit like giving in  to Marxism. Surely, for the good of the people of the  United Kingdom, principles of free economy and the age of entrepreneurship, it is now a time to call a halt to Brexit and think again about how best to respect the will of the people which was only marginally in the favor of the unrealizable gain and upcoming pain.            
    May 03, 2017 98
  • 02 May 2017
    Navigene is a company undertaking screening, diagnosis and research in Metabolomics (genetic testing or screening) along with helping laboratories and institutions across the world to implement its unique services. Navigene strives for early and accurate prediction/diagnosis of disorders and ailments, through Preventive Genetic Screening solution for newborns, children and adults.   Navigene’s Flagship product NAVIGENE BABY SCREEN through its innovative and unique technology, screens the New born babies for 110 genetic and metabolic disorders as early as 3rd day of life using just a urine sample collected on a special filter paper.    It collects urine samples of newborns from hospitals and paediatric clinics across six major cities and tests them at its lab in Thane, Maharashtra. The test results are released in 48 to 72 hours. The samples are tested for as many as 110 possible genetic disorders, which are medically known as Inborn Errors of Metabolism or IEM.   Some life-threatening disorders among newborns include Methylmalonic Acidemia, which can cause breathing problems, brain swelling, stroke and coma; and Biotinidase Deficiency, which can lead to developmental delays, hearing disorders and eczema.   In India, Navigene is one of the early movers in genetic screening of babies. Two co-founders - Dr Rishi Dixit (MD & CEO) and Dr Vrushali Joshi (CTO) – with the help of early-stage incubation and venture capital firm, IncuCapital started the venture. An MBBS and MBA, Dr Rishi has a deep understanding of the healthcare marketing space and also worked with start-ups. Before starting Navigene, he was Head of Sales & Strategy at a start-up in the similar domain. Prior to that, he was manager, Health Analytics, with ICICI Prudential Life insurance. Dr Vrushali holds a Ph.D. from Mumbai University and is a leading geneticist with more that 15 years of experience. She is also a government-certified genetic counsellor.    As of now, the start-up has a B2B revenue model in place while the B2C space is essentially serviced through its partners who can reach out to more people. Navigene charges fee per sample testing and its flagship solution, Navigene Baby Screen (NBS), which tests urine sample for 110 disorders, costs Rs 5,000. But to make it more affordable for Tier II cities and smaller medical facilities, customised packages start from Rs 900 for tracking 3-4 basic disorders and can go up to Rs 2,700 for screening 31 commonest disorders that affect infants in the first few months. The company has also tied up with a leading stem cell company for instant access to a large B2C market. 
    86 Posted by Abhishek Kwatra
  • Navigene is a company undertaking screening, diagnosis and research in Metabolomics (genetic testing or screening) along with helping laboratories and institutions across the world to implement its unique services. Navigene strives for early and accurate prediction/diagnosis of disorders and ailments, through Preventive Genetic Screening solution for newborns, children and adults.   Navigene’s Flagship product NAVIGENE BABY SCREEN through its innovative and unique technology, screens the New born babies for 110 genetic and metabolic disorders as early as 3rd day of life using just a urine sample collected on a special filter paper.    It collects urine samples of newborns from hospitals and paediatric clinics across six major cities and tests them at its lab in Thane, Maharashtra. The test results are released in 48 to 72 hours. The samples are tested for as many as 110 possible genetic disorders, which are medically known as Inborn Errors of Metabolism or IEM.   Some life-threatening disorders among newborns include Methylmalonic Acidemia, which can cause breathing problems, brain swelling, stroke and coma; and Biotinidase Deficiency, which can lead to developmental delays, hearing disorders and eczema.   In India, Navigene is one of the early movers in genetic screening of babies. Two co-founders - Dr Rishi Dixit (MD & CEO) and Dr Vrushali Joshi (CTO) – with the help of early-stage incubation and venture capital firm, IncuCapital started the venture. An MBBS and MBA, Dr Rishi has a deep understanding of the healthcare marketing space and also worked with start-ups. Before starting Navigene, he was Head of Sales & Strategy at a start-up in the similar domain. Prior to that, he was manager, Health Analytics, with ICICI Prudential Life insurance. Dr Vrushali holds a Ph.D. from Mumbai University and is a leading geneticist with more that 15 years of experience. She is also a government-certified genetic counsellor.    As of now, the start-up has a B2B revenue model in place while the B2C space is essentially serviced through its partners who can reach out to more people. Navigene charges fee per sample testing and its flagship solution, Navigene Baby Screen (NBS), which tests urine sample for 110 disorders, costs Rs 5,000. But to make it more affordable for Tier II cities and smaller medical facilities, customised packages start from Rs 900 for tracking 3-4 basic disorders and can go up to Rs 2,700 for screening 31 commonest disorders that affect infants in the first few months. The company has also tied up with a leading stem cell company for instant access to a large B2C market. 
    May 02, 2017 86
  • 29 Apr 2017
    Can start ups make Bharat and India go hand in hand?   India is the largest democracy and the 7th largest country in the world. It has a population of 1.311 billion, with the highest percentage of young population in the world, rich in terms of human resources aren’t we? But are we making appropriate utilization of the resources? More than 70% of our population resides in villages who are waiting eagerly to be included in the project “let’s make India a developed nation”, but the question is “are we ready to take them along?” Inclusion of the backward and rural areas has been a long debated topic in the Indian history, from seclusion of the north east area to unequitable distribution of resources, we are struggling badly to make “BHARAT” and “INDIA” go hand in hand. So how we can take the benefit of the start-up buzz and try to involve as many people from the rural population, sounds difficult right? Yes a bit difficult but not impossible to achieve. The right steps in this direction have already been taken. “JEEVANKSH” is a social venture in north eastern India, where they are into products and services related to contract farming, agricultural consultancy, organic farm input and organic food. Another example is the Exabit systems who employ latest technology for the development of the agriculture. They have projects like “TACTIX” and “ROBOTIX” to integrate automation and IT with the agro services. Peepal tree is another such example where young boys and girls are trained with basic work skills and they are provided employment opportunities in the industry. Villages as an economy What we will have to focus is the development of these villages as micro economic units who are self-sufficient in every aspect, with their own educational centre, health centre, basic services and agricultural infrastructure. The essentials to achieve this are: -          Internet and communications infrastructure: This will help to connect and keep them update with information about the happenings around the world. -          Electricity- Finance Minister Mr. Arun Jaitely has claimed that every village in India will be electrified by 2018. Renewable sources of energy like solar energy and wind energy can be used for such purposes. Surely the initial investment will be huge for such a project, but this will result in self-sufficiency for the villages and less burden on the existing power plants.   -          Participation by NGOs, authorities and corporates: Role of these stakeholders is really important as they can act as a channel between resources and these villages. CSR has been made compulsory by the companies’ act 2013, under which these corporate giants can work with the villages as they are equipped with the necessary resources like technology, expert guidance, manpower, services etc. Many corporates like Mahindra, ITC contribute to initiatives but the need of the hour is much more and numerous other participants are required to come up. -          Human Resources: Yes like every company a village also does needs its share of efficient people around like agro experts, teachers, doctors, computer professionals etc. -           Panchayat/Village heads: Like an efficient leader is required to head an economy, a well-educated, informed and growth oriented leader is required for a village to succeed. -          Research and development centres: Research centres should be incorporated so that new techniques for agriculture, livestock farming etc. can be provided to link farmers to the latest technology at reasonable prices. -          Employment: We need to ensure that adequate employment opportunities are available in the villages, this will ensure maximum productivity, less burden on the cities and reduced crimes. Taking initiatives like “Swatch Bharat”,”Make in India” and “Start-up India” in the villages can result in lots of employment opportunities for the people there.   Blockages in the way:  There are many bottlenecks in the system such as: -          Lack of trained personnel: There is an imbalance between the demand and supply of people in these areas, moreover professionals are more interested in working in urban areas rather than rural areas. -          Politics and red tapism: Government of India has allocated Rs.187223 crore for rural, agricultural and allied sectors in the year 2017-18, but the actual amount which trickles down to the cause is very less. Actually the corporates want to contribute for the villages as they too get benefitted in return, but due to the geo-political situations in the country and cultural sensitivity it’s difficult to proceed. -          Illiteracy: For the development of an area it is really important that the people of the area are well aware and educated in order to understand the pros and cons of every decision. Moreover education frees people from the clutches of superstitions and religious intolerance.   Role of the start-ups: -          Infusion of new ideas and blood in the system: The tremendous intelligence and effort of the village youth can be put to great usage with them managing their own ventures. -          Attracting capital and ensuring smooth flow: Successful start-ups in the villages have the potential to attract capital from investors, it is possible that foreign investors also invest in such ventures. -          Villages as strategic units for industries: Villages if developed properly will act as in house resources for services and products for the existing industries, cottage enterprises can act as manufacturing units for the companies. -          New ideas: Villages have their own special needs and opportunities that are different from the cities, therefore there are new arenas to explore for budding entrepreneurs.    Will this really make a difference!!! -          There are various issues that can be solved by inclusion of rural India in the start-up revolution: Access to infrastructural facilities and capital Mentorship and Digital education in the rural areas Services like logistics, IT, storage etc. Establishing a network to connect remote areas like the north east etc. Rural areas can act as low cost and qualitative resources for corporates in the country, this will lead to reduced imports Employment generation for the rural youth                             The journey has begun… Some of the villages have already begun to take the right steps in the right direction. For example: -          Dharni village, Bihar: It is the first village in India to entirely run on solar power -          Hiware Bazaar, Maharashtra: Raised groundwater levels with efficient water conservation techniques -          Chizami village, Nagaland: Where women have developed a sustainable model of development -          Punsari village, Gujrat: It has all the facilities of a modern cities from ACs to CCTVs to hi tech machines and a well-educated village head -          Mawlynnong, Meghalaya: cleanest village in India              Long way ahead  There are about 640000 villages in the country, just imagine what difference it will make     to have 640000 micro economies which are independent and contribute to the economy of the country. The picture we see now where the villages are not connected and have lack of basic facilities like health and education can be changed, and this can be done by none other than “us!!!- the citizens of the country”, all we have to do is hold the hand of “BHARAT” and bring him aboard along with “INDIA” on this ship of development which will sail smoothly through the tides of time and take our country to new avenues of success.  
    66 Posted by tanushree singh
  • Can start ups make Bharat and India go hand in hand?   India is the largest democracy and the 7th largest country in the world. It has a population of 1.311 billion, with the highest percentage of young population in the world, rich in terms of human resources aren’t we? But are we making appropriate utilization of the resources? More than 70% of our population resides in villages who are waiting eagerly to be included in the project “let’s make India a developed nation”, but the question is “are we ready to take them along?” Inclusion of the backward and rural areas has been a long debated topic in the Indian history, from seclusion of the north east area to unequitable distribution of resources, we are struggling badly to make “BHARAT” and “INDIA” go hand in hand. So how we can take the benefit of the start-up buzz and try to involve as many people from the rural population, sounds difficult right? Yes a bit difficult but not impossible to achieve. The right steps in this direction have already been taken. “JEEVANKSH” is a social venture in north eastern India, where they are into products and services related to contract farming, agricultural consultancy, organic farm input and organic food. Another example is the Exabit systems who employ latest technology for the development of the agriculture. They have projects like “TACTIX” and “ROBOTIX” to integrate automation and IT with the agro services. Peepal tree is another such example where young boys and girls are trained with basic work skills and they are provided employment opportunities in the industry. Villages as an economy What we will have to focus is the development of these villages as micro economic units who are self-sufficient in every aspect, with their own educational centre, health centre, basic services and agricultural infrastructure. The essentials to achieve this are: -          Internet and communications infrastructure: This will help to connect and keep them update with information about the happenings around the world. -          Electricity- Finance Minister Mr. Arun Jaitely has claimed that every village in India will be electrified by 2018. Renewable sources of energy like solar energy and wind energy can be used for such purposes. Surely the initial investment will be huge for such a project, but this will result in self-sufficiency for the villages and less burden on the existing power plants.   -          Participation by NGOs, authorities and corporates: Role of these stakeholders is really important as they can act as a channel between resources and these villages. CSR has been made compulsory by the companies’ act 2013, under which these corporate giants can work with the villages as they are equipped with the necessary resources like technology, expert guidance, manpower, services etc. Many corporates like Mahindra, ITC contribute to initiatives but the need of the hour is much more and numerous other participants are required to come up. -          Human Resources: Yes like every company a village also does needs its share of efficient people around like agro experts, teachers, doctors, computer professionals etc. -           Panchayat/Village heads: Like an efficient leader is required to head an economy, a well-educated, informed and growth oriented leader is required for a village to succeed. -          Research and development centres: Research centres should be incorporated so that new techniques for agriculture, livestock farming etc. can be provided to link farmers to the latest technology at reasonable prices. -          Employment: We need to ensure that adequate employment opportunities are available in the villages, this will ensure maximum productivity, less burden on the cities and reduced crimes. Taking initiatives like “Swatch Bharat”,”Make in India” and “Start-up India” in the villages can result in lots of employment opportunities for the people there.   Blockages in the way:  There are many bottlenecks in the system such as: -          Lack of trained personnel: There is an imbalance between the demand and supply of people in these areas, moreover professionals are more interested in working in urban areas rather than rural areas. -          Politics and red tapism: Government of India has allocated Rs.187223 crore for rural, agricultural and allied sectors in the year 2017-18, but the actual amount which trickles down to the cause is very less. Actually the corporates want to contribute for the villages as they too get benefitted in return, but due to the geo-political situations in the country and cultural sensitivity it’s difficult to proceed. -          Illiteracy: For the development of an area it is really important that the people of the area are well aware and educated in order to understand the pros and cons of every decision. Moreover education frees people from the clutches of superstitions and religious intolerance.   Role of the start-ups: -          Infusion of new ideas and blood in the system: The tremendous intelligence and effort of the village youth can be put to great usage with them managing their own ventures. -          Attracting capital and ensuring smooth flow: Successful start-ups in the villages have the potential to attract capital from investors, it is possible that foreign investors also invest in such ventures. -          Villages as strategic units for industries: Villages if developed properly will act as in house resources for services and products for the existing industries, cottage enterprises can act as manufacturing units for the companies. -          New ideas: Villages have their own special needs and opportunities that are different from the cities, therefore there are new arenas to explore for budding entrepreneurs.    Will this really make a difference!!! -          There are various issues that can be solved by inclusion of rural India in the start-up revolution: Access to infrastructural facilities and capital Mentorship and Digital education in the rural areas Services like logistics, IT, storage etc. Establishing a network to connect remote areas like the north east etc. Rural areas can act as low cost and qualitative resources for corporates in the country, this will lead to reduced imports Employment generation for the rural youth                             The journey has begun… Some of the villages have already begun to take the right steps in the right direction. For example: -          Dharni village, Bihar: It is the first village in India to entirely run on solar power -          Hiware Bazaar, Maharashtra: Raised groundwater levels with efficient water conservation techniques -          Chizami village, Nagaland: Where women have developed a sustainable model of development -          Punsari village, Gujrat: It has all the facilities of a modern cities from ACs to CCTVs to hi tech machines and a well-educated village head -          Mawlynnong, Meghalaya: cleanest village in India              Long way ahead  There are about 640000 villages in the country, just imagine what difference it will make     to have 640000 micro economies which are independent and contribute to the economy of the country. The picture we see now where the villages are not connected and have lack of basic facilities like health and education can be changed, and this can be done by none other than “us!!!- the citizens of the country”, all we have to do is hold the hand of “BHARAT” and bring him aboard along with “INDIA” on this ship of development which will sail smoothly through the tides of time and take our country to new avenues of success.  
    Apr 29, 2017 66
  • 27 Apr 2017
    While mobile wallets are a buzz among start-ups in financial industry, HipBar has innovated a new concept in the food & beverage industry. Founded by Prasanna Natarajan , Prashant Adurty , Aprup Seth  and Anshul Seth;  the company is changing the way liquor industry operated in the past. Each one of the founder brings extensive experience in either hospitality or consulting and considering the growth potential of the market, their innovation is proving to be a game changer. The Hipbar app runs India’s first RBI-approved mobile wallet for adult beverages. Their app, HipBar, allows liquor connoisseurs to buy full bottles of their favourite booze and later redeem it in a network of restaurants or hotel across the country. It is an innovation that helps liquor companies promote their brands without being present at the point of sales. How does it work? Suppose you buy a bottle of expensive whisky for INR 5000 on Hipbar app, you can consume a small portion of, say, 30 ml in any bar. The hotel or bar will then charge you a portion of bottle consumed through the app. The app will immediately reflect a reduction in the volume of the bottle. The bottle of whisky that was purchased will stand as a prepaid instrument and its value will diminish as the customer opts to consume the whisky later on. Possibilities? Now when you buy a bottle on the app, brands can compete by offering direct discounts. True power of technology would reflect when people can offer you a drink in any pub across the country and pay through their app, without being physically present at the location. Treat your friend with his favourite drink at the location of his choice in New Delhi on his Birthday party, while you are driving car to the office in the city of New York. Sounds Exciting, isn’t it?   India has 150 million people who have the resources to purchase Liquor. However, 49% of this number are below the legal drinking age. The consumption patterns of people entering the legal purchasing age has been identified as the single most important driver of growth for the industry, and MNCs are hoping to reap the demographic dividends by putting India on top of the list. India’s earning population (over 25 years of age) is expected to grow from 40% of the total population to 55% of the total population by 2020. India is also the second-biggest smartphone market in the world and has surpassed USA in late 2015. The government of India is extremely supportive and pushing through legislation towards making India a ‘cash-less’ society. The number of young, upwardly mobile tech-savvy Indians with rising earnings potential and disposable incomes is increasing at a rapid pace. This group is digitally savvy, adopts to trends early and embraces modern technology with ease. All this adds to the potential that Hipbar or similar businesses have in the future. Currently, In Bengaluru, HipBar has over 50 retail stores and around 30 bars as part of its network. The HipBar app has witnessed daily bookings worth Rs. 1.5-2 lakh on weekdays which rises sharply during weekends. The app, however, undergoes strict KYC (Know Your Customer) details of users for age validation purpose. If the app captures even 5% of the Market share in major cities of Karnataka, Tamil Nadu and Goa, it can generate a revenue of over INR 10 Crores ( Commission)  in less than a year. If this expands to pan India, they could be rolling close to 100 Crores in less than 3 years and the potential globally is mind boggling. It is one start up that makes me wonder the potential of internet and digitization in general and blockchain in particular. Can we have something similar for everything that we consume today. If we do, you will be able to barter your physical holdings of Item A with that of Item B without requiring transaction of a single rupee. Look at the cost savings it will offer in terms of placing something on sale, finding a potential customer or transportation and logistics. Even more, central banks will save on printing currencies and banks will only manage the net holding of money with money as just another form of personal holding.
    37 Posted by Suresh Kumar
  • While mobile wallets are a buzz among start-ups in financial industry, HipBar has innovated a new concept in the food & beverage industry. Founded by Prasanna Natarajan , Prashant Adurty , Aprup Seth  and Anshul Seth;  the company is changing the way liquor industry operated in the past. Each one of the founder brings extensive experience in either hospitality or consulting and considering the growth potential of the market, their innovation is proving to be a game changer. The Hipbar app runs India’s first RBI-approved mobile wallet for adult beverages. Their app, HipBar, allows liquor connoisseurs to buy full bottles of their favourite booze and later redeem it in a network of restaurants or hotel across the country. It is an innovation that helps liquor companies promote their brands without being present at the point of sales. How does it work? Suppose you buy a bottle of expensive whisky for INR 5000 on Hipbar app, you can consume a small portion of, say, 30 ml in any bar. The hotel or bar will then charge you a portion of bottle consumed through the app. The app will immediately reflect a reduction in the volume of the bottle. The bottle of whisky that was purchased will stand as a prepaid instrument and its value will diminish as the customer opts to consume the whisky later on. Possibilities? Now when you buy a bottle on the app, brands can compete by offering direct discounts. True power of technology would reflect when people can offer you a drink in any pub across the country and pay through their app, without being physically present at the location. Treat your friend with his favourite drink at the location of his choice in New Delhi on his Birthday party, while you are driving car to the office in the city of New York. Sounds Exciting, isn’t it?   India has 150 million people who have the resources to purchase Liquor. However, 49% of this number are below the legal drinking age. The consumption patterns of people entering the legal purchasing age has been identified as the single most important driver of growth for the industry, and MNCs are hoping to reap the demographic dividends by putting India on top of the list. India’s earning population (over 25 years of age) is expected to grow from 40% of the total population to 55% of the total population by 2020. India is also the second-biggest smartphone market in the world and has surpassed USA in late 2015. The government of India is extremely supportive and pushing through legislation towards making India a ‘cash-less’ society. The number of young, upwardly mobile tech-savvy Indians with rising earnings potential and disposable incomes is increasing at a rapid pace. This group is digitally savvy, adopts to trends early and embraces modern technology with ease. All this adds to the potential that Hipbar or similar businesses have in the future. Currently, In Bengaluru, HipBar has over 50 retail stores and around 30 bars as part of its network. The HipBar app has witnessed daily bookings worth Rs. 1.5-2 lakh on weekdays which rises sharply during weekends. The app, however, undergoes strict KYC (Know Your Customer) details of users for age validation purpose. If the app captures even 5% of the Market share in major cities of Karnataka, Tamil Nadu and Goa, it can generate a revenue of over INR 10 Crores ( Commission)  in less than a year. If this expands to pan India, they could be rolling close to 100 Crores in less than 3 years and the potential globally is mind boggling. It is one start up that makes me wonder the potential of internet and digitization in general and blockchain in particular. Can we have something similar for everything that we consume today. If we do, you will be able to barter your physical holdings of Item A with that of Item B without requiring transaction of a single rupee. Look at the cost savings it will offer in terms of placing something on sale, finding a potential customer or transportation and logistics. Even more, central banks will save on printing currencies and banks will only manage the net holding of money with money as just another form of personal holding.
    Apr 27, 2017 37
  • 26 Apr 2017
    FinTech is a relatively young line of business, with a lot of changes happening around us every second. Professionally all of us would like to keep ourselves updated with the news and trends around our industry.  So, here's a list of blogs that will keep you updated with the latest happenings in the world of FinTech   Finanser by Chris Skinner. Skinner is one of the Top 40 most influential people in FinTech by the Wall Street Journal’s Financial News. He is an independent commentator on the financial markets and author of a number of books on FinTech.   Jessica Ellerm will guide you along down the industry’s tracks. Her blog highlights first-person perspectives in the “fintech trenches,” as she calls it, along with insights on technology’s role in transforming the way we use financial services and banking products.   Finiculture  is a blog created and written by Pascal Bouvier. He is French and an ex banker who now invests in high technology finance companies that provide digital banking and insurance services along with other products. He analyses high end technologies and provides relevant insights to entrepreneurs as well as investors.   Fintastico  is a daily online news project, which brings in latest Fintech news from almost over fifty different sources.    Coindesk is the global leader in news and information on digital currencies such as bitcoin, and its underlying technology – the blockchain. They cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.   Disruptive Finance blog hosts conversations around such topics as lending innovation, new financial models and digital currencies. It’s run by Huy Nguyen Trieu, a mentor who serves on the board of several fintech organizations.    Duenablomstrom Blog  posts include intriguing concepts such as “emotional banking,” and she hones in on the intersection of technology and behavioral science within financial services.   Consult Hyperion by Dave Birch. Birch writes insightful posts on FinTech trends and is an internationally-recognised thought leader in digital identity and digital money. He was named one of the 2014 “Power 50” in European digital financial services and one of WIRED magazine’s global top 15 favourite sources of news from the world of business and finance.    Cisco Financial Services  has a dedicated group that caters to financial services, and as part of that work, they produce a blog that includes useful insights into industry trends and Cisco products.   The Fintech Blog focuses on wealth management, mobile lending, and innovation differentiation among startups and incumbents. The posts covers various FinTech events, interviews as well as analysis by the top Fintech entrepreneurs and executives. One can also read on Q&A’s with some of the well-known CEOs of different companies that are coveredin the blog.    
    437 Posted by Chirag Saigal
  • FinTech is a relatively young line of business, with a lot of changes happening around us every second. Professionally all of us would like to keep ourselves updated with the news and trends around our industry.  So, here's a list of blogs that will keep you updated with the latest happenings in the world of FinTech   Finanser by Chris Skinner. Skinner is one of the Top 40 most influential people in FinTech by the Wall Street Journal’s Financial News. He is an independent commentator on the financial markets and author of a number of books on FinTech.   Jessica Ellerm will guide you along down the industry’s tracks. Her blog highlights first-person perspectives in the “fintech trenches,” as she calls it, along with insights on technology’s role in transforming the way we use financial services and banking products.   Finiculture  is a blog created and written by Pascal Bouvier. He is French and an ex banker who now invests in high technology finance companies that provide digital banking and insurance services along with other products. He analyses high end technologies and provides relevant insights to entrepreneurs as well as investors.   Fintastico  is a daily online news project, which brings in latest Fintech news from almost over fifty different sources.    Coindesk is the global leader in news and information on digital currencies such as bitcoin, and its underlying technology – the blockchain. They cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.   Disruptive Finance blog hosts conversations around such topics as lending innovation, new financial models and digital currencies. It’s run by Huy Nguyen Trieu, a mentor who serves on the board of several fintech organizations.    Duenablomstrom Blog  posts include intriguing concepts such as “emotional banking,” and she hones in on the intersection of technology and behavioral science within financial services.   Consult Hyperion by Dave Birch. Birch writes insightful posts on FinTech trends and is an internationally-recognised thought leader in digital identity and digital money. He was named one of the 2014 “Power 50” in European digital financial services and one of WIRED magazine’s global top 15 favourite sources of news from the world of business and finance.    Cisco Financial Services  has a dedicated group that caters to financial services, and as part of that work, they produce a blog that includes useful insights into industry trends and Cisco products.   The Fintech Blog focuses on wealth management, mobile lending, and innovation differentiation among startups and incumbents. The posts covers various FinTech events, interviews as well as analysis by the top Fintech entrepreneurs and executives. One can also read on Q&A’s with some of the well-known CEOs of different companies that are coveredin the blog.    
    Apr 26, 2017 437
  • 26 Apr 2017
    Right now Bitcoin feels like the Internet before the browser - Wences Casares     Bitcoin, as described by it's inventor, Satoshi Nakamoto, is a Peer-to-Peer Electronic Cash System. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, it is digital cash, cryptocurrency, an international payment network, the internet of money – but whatever you call it, Bitcoin is a revolution that is changing the way everyone sees and uses money.   The beauty of Bitcoin is that it requires no central servers or third-party clearing houses to settle transactions – all payments are peer-to-peer (P2P) and are settled in about 10 minutes – unlike credit card payments, which can take weeks or months before they’re finally settled. All Bitcoin transactions are recorded permanently on a distributed ledger called the “blockchain” – this ledger is shared between all full Bitcoin “miners” and “nodes” around the world, and is publicly-viewable. These miners and nodes verify transactions and keep the network secure. For the electricity they use to do this, miners are rewarded with new bitcoins with each 10-minute block (the reward is currently 12.5 BTC per block). The Bitcoin protocol is also hard-limited to 21 million bitcoins, meaning that no more than that can ever be created. This means that no central bank, individual or government can come along and simply ‘print’ more bitcoins when it suits them. In this sense Bitcoin is a deflationary currency, and as such is likely to grow in value based on this property alone. Bitcoin is still a cutting-edge experiment in technology and economics, and like the worldwide web in 1995, its myriad potential, purposes and applications are yet to be decided. Is it just electronic money? A foundation for smart contracts and electronic shares? Is it underground and subversive, challenging the power of governments, or will it integrate into mainstream finance and go unnoticed? If you know the answers to any of these questions, or if you can figure out how to capitalize on them there may be many lucrative opportunities for you in the Bitcoin space.   Content Source - bitcoin.com Image Source - Udemy (1), American Banker(2)
    925 Posted by Chirag Saigal
  • Right now Bitcoin feels like the Internet before the browser - Wences Casares     Bitcoin, as described by it's inventor, Satoshi Nakamoto, is a Peer-to-Peer Electronic Cash System. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, it is digital cash, cryptocurrency, an international payment network, the internet of money – but whatever you call it, Bitcoin is a revolution that is changing the way everyone sees and uses money.   The beauty of Bitcoin is that it requires no central servers or third-party clearing houses to settle transactions – all payments are peer-to-peer (P2P) and are settled in about 10 minutes – unlike credit card payments, which can take weeks or months before they’re finally settled. All Bitcoin transactions are recorded permanently on a distributed ledger called the “blockchain” – this ledger is shared between all full Bitcoin “miners” and “nodes” around the world, and is publicly-viewable. These miners and nodes verify transactions and keep the network secure. For the electricity they use to do this, miners are rewarded with new bitcoins with each 10-minute block (the reward is currently 12.5 BTC per block). The Bitcoin protocol is also hard-limited to 21 million bitcoins, meaning that no more than that can ever be created. This means that no central bank, individual or government can come along and simply ‘print’ more bitcoins when it suits them. In this sense Bitcoin is a deflationary currency, and as such is likely to grow in value based on this property alone. Bitcoin is still a cutting-edge experiment in technology and economics, and like the worldwide web in 1995, its myriad potential, purposes and applications are yet to be decided. Is it just electronic money? A foundation for smart contracts and electronic shares? Is it underground and subversive, challenging the power of governments, or will it integrate into mainstream finance and go unnoticed? If you know the answers to any of these questions, or if you can figure out how to capitalize on them there may be many lucrative opportunities for you in the Bitcoin space.   Content Source - bitcoin.com Image Source - Udemy (1), American Banker(2)
    Apr 26, 2017 925
  • 26 Apr 2017
    If banks cannot offer something valuable than Amazon Prime, then we are probably in the wrong business as quoted by Bradley Leimer is exactly where FinTech comes into the picture as a knight in shining armor, galloping down with the might of technology, disrupting the financial ecosystem of today and creating the banking utopia that everyone craves about. And then the clock strikes midnight and gone is that knight which brings me to the question, what exactly is this FinTech we hear about and everyone wants to talk about everywhere these days? A customary google search defines Fintech(Financial Technology) as computer programs and other technology used to support or enable banking and financial services and rightly so. In the past decade, we observed tremendous changes in the way banking industry operated and now most of us cannot even recall the last time we had to visit a bank. All of that happened because of the use of technology and yet when it comes to technology, banking is still amongst the sectors that has much explore. A recent report from PWC found that over 80% of financial institutions believe business is at risk to innovators, with 82% of expect to increase FinTech partnerships in the next three to five years as Fintech is usually getting applied to the segment of the technology startup scene that is disrupting sectors such as mobile payments, money transfers, loans, fundraising, etc. IMPACT IN BUSINESSES The rise of FinTech has forever changed the way companies do business. From crowdsourcing to mobile payments, there has never been as much choice to entrepreneurs as there is right now and it’s never been cheaper to not only set-up your business, but also to expand it. FinTech ventures (like TransferWise) have turned the traditional (and expensive) banking solution to sending money across borders on its head, enabling small firms and individuals to transfer money far cheaper than was previously possible solving what has always been one of the biggest challenges entrepreneurs faced. The main advantage with Fintech firms is that they can pass on huge savings as they are far more agile than traditional banks, not having the same overheads and commitment banks are burdened with, as their relative lack of size allows them to innovate and adapt in a way bigger corporations can only dream of.   CHANGE IN CONSUMER BEHAVIOUR The rise of the smartphone has given birth to the always online culture we live in today with people being able to access information and data they had never previously been able to and they can do so anywhere and almost everywhere. People want to access all the financial services just like they way they do anything else, ie via a simple and convenient mobile app. It presents the businesses an area to innovate, grab this opportunity and gain a competitive advantage as the time period when no enterprise will flourish without the right FinTech services in place is approaching at much faster rate than it could’ve been anticipated. In short, FinTech has opened up a world full of possibilities where businesses can not only offer more services than ever, but also offer it for a fraction of the price of what it would have cost before. And thus its of utmost importance for businesses to keep themselves aligned with the innovations in FinTech in order to stay competitive in the current as well as future market.  
    314 Posted by Chirag Saigal
  • If banks cannot offer something valuable than Amazon Prime, then we are probably in the wrong business as quoted by Bradley Leimer is exactly where FinTech comes into the picture as a knight in shining armor, galloping down with the might of technology, disrupting the financial ecosystem of today and creating the banking utopia that everyone craves about. And then the clock strikes midnight and gone is that knight which brings me to the question, what exactly is this FinTech we hear about and everyone wants to talk about everywhere these days? A customary google search defines Fintech(Financial Technology) as computer programs and other technology used to support or enable banking and financial services and rightly so. In the past decade, we observed tremendous changes in the way banking industry operated and now most of us cannot even recall the last time we had to visit a bank. All of that happened because of the use of technology and yet when it comes to technology, banking is still amongst the sectors that has much explore. A recent report from PWC found that over 80% of financial institutions believe business is at risk to innovators, with 82% of expect to increase FinTech partnerships in the next three to five years as Fintech is usually getting applied to the segment of the technology startup scene that is disrupting sectors such as mobile payments, money transfers, loans, fundraising, etc. IMPACT IN BUSINESSES The rise of FinTech has forever changed the way companies do business. From crowdsourcing to mobile payments, there has never been as much choice to entrepreneurs as there is right now and it’s never been cheaper to not only set-up your business, but also to expand it. FinTech ventures (like TransferWise) have turned the traditional (and expensive) banking solution to sending money across borders on its head, enabling small firms and individuals to transfer money far cheaper than was previously possible solving what has always been one of the biggest challenges entrepreneurs faced. The main advantage with Fintech firms is that they can pass on huge savings as they are far more agile than traditional banks, not having the same overheads and commitment banks are burdened with, as their relative lack of size allows them to innovate and adapt in a way bigger corporations can only dream of.   CHANGE IN CONSUMER BEHAVIOUR The rise of the smartphone has given birth to the always online culture we live in today with people being able to access information and data they had never previously been able to and they can do so anywhere and almost everywhere. People want to access all the financial services just like they way they do anything else, ie via a simple and convenient mobile app. It presents the businesses an area to innovate, grab this opportunity and gain a competitive advantage as the time period when no enterprise will flourish without the right FinTech services in place is approaching at much faster rate than it could’ve been anticipated. In short, FinTech has opened up a world full of possibilities where businesses can not only offer more services than ever, but also offer it for a fraction of the price of what it would have cost before. And thus its of utmost importance for businesses to keep themselves aligned with the innovations in FinTech in order to stay competitive in the current as well as future market.  
    Apr 26, 2017 314