Ayush Mathur, an early team member of the hotel and travel-tech company OYO, and Mayank Kumar, an education leader and co-founder of upGrad, have joined forces as co-founders to develop BorderPlus, a talent mobility platform that links blue-collar workers to opportunities throughout the world.
After working at the Parthenon Group for almost ten years, the pair is getting back together with the goal of closing the labour gap and emphasising fair access for workers from developing nations like India.
Natural resources are hardly abundant in India. The greatest resource of the nation is its people. India needs to leverage its demographic dividend in order to create something significant and expansive. One of the best examples of how India has created a remarkable service line to meet global demands is in IT services. “I think India is positioned to become the world’s largest supplier of talent to the global economy, given the country’s demographic dynamics,” Kumar said.
With aspirations to grow into other industries like hotel, retail, teaching, construction/logistics, and trucking, in addition to exploring other regions in the future, BorderPlus will initially concentrate on the German healthcare market.
Mathur, who has worked for OYO for more than ten years and was most recently the President of OYO Europe, explains that a large amount of OYO’s European business is in Denmark and Germany, where he has observed a lack of housekeeping workers.
How BorderPlus will work?
With a target of 20–30 applicants every batch, the business intends to deploy many batches each month across different areas. It plans to ramp up to weekly batches after first running batches once a month.
For efficient language learning, the last month or two of the six- to nine-month programs are conducted offline. The remaining months can be completed online, in a hybrid learning environment, or offline. According to Kumar, the first training site is in Pune, followed by Mumbai, and other last-mile training sites will be established around the nation.
For language practice through back-and-forth spoken exchanges, the startup is creating an AI-led conversational bot based on OpenAI architecture. Kumar emphasises that although the programs would cost INR 2 lakh, participants will receive complete reimbursement as a scholarship or relocation aid after they arrive in Germany.
“Once a recruiter recruits them, we might get paid.” It’s a revenue stream that is more driven by enterprises than by consumers,” he continues. The organisation focuses on a finishing school that offers a curriculum that includes 10% skills development, 20% cultural preparation, and 70% language training to prepare students. Kumar notes that India’s educational system already offers robust skill training, particularly in fields like nursing and healthcare, as seen by the BSc Nursing program.
Major Challenges
Teaching 20–23-year-olds a foreign language, especially German, at a time when language acquisition is challenging is one of the biggest obstacles, according to Kumar. Maintaining industry standards is made more difficult by competing with unorganised players who don’t follow the regulations. Building trust for a strong Indian brand abroad is another challenge, especially in the German and European markets where corporates and recruiters might not be familiar with the brand.
Since hospitals are looking for clear and reliable hiring procedures, Mathur thinks that trust is a big issue because of the reputation of unregulated methods. This trust gap can be closed by providing a transparent, technology-driven solution, which is essential for industry growth and cooperation with European and UK organisations.
Resilient Innovations, the parent company of fintech giant BharatPe, is apparently seeking to sell its ownership of Unity Small Finance Bank (Unity SFB). According to a media report, which cited people familiar with the situation, the business is considering selling 25% of its bank holding in order to earn $800 million. It is important to remember that 49% of Unity SFB is owned by Resilient Innovations. The regulatory mandate for BharatPe to reduce its stake in the bank to 10% by 2029 is in line with this unloading. BharatPe must reduce its ownership of the bank to 10% within eight years of the bank’s opening in order to comply with licensing regulations. The fintech business will continue to work with the bank after reducing its investment because the deal is being completed to comply with regulatory standards.
BharatPe on Expansion Spree
Prior to the bank going public, BharatPe intends to sell off a sizable portion of its ownership. In addition to BharatPe, Centrum Financial Services supports Unity SFB. In 2021, the bank received an SFB licence from the Reserve Bank of India (RBI). The development coincides with BharatPe’s current expansionary phase. The financial titan enhanced its investment portfolio a few months ago with the release of Invest BharatPe, a new app. In addition, the organisation declared that digital gold was the initial product which the firm has launched recently on its platform.
Offerings of BharatPe
In addition to UPI payments, bill payments, and credit card repayment possibilities, the fintech firm BharatPe also investigated the super app wave by incorporating an e-commerce sector onto its platform. Additionally, through NBFC partners including L&T Finance, CASHe, and True Credit, it provides unsecured personal loans up to INR 15 lakh. In FY24, BharatPe reported a consolidated revenue of INR 1,426 Cr, a 39% increase over FY23’s INR 1,029 Cr.
Settling Dispute with Ashneer Grover
Days after Grover’s brother-in-law was detained by the Delhi Police’s Economic Offences Wing (EOW) on suspicion of embezzling money from the fintech company, BharatPe and its former co-founder, Ashneer Grover, have reached a settlement in their long-running legal battle.
Grover will not have any affiliation with BharatPe or ownership of any of its shares as part of the settlement, according to the Gurugram-based business. For the interest of the business, some of Grover’s shares will be moved to the Resilient Growth Trust, while his family trust will oversee the remaining shares. According to a statement from BharatPe, both parties have chosen not to pursue the filed complaints.
“BharatPe and I have come to a definitive agreement. Grover posted on the social media platform X, “I have complete faith in the board and management, who are doing a fantastic job of moving BharatPe in the right direction.”
According to many news sources, Reliance Retail, the biggest shareholder in the struggling hyperlocal firm Dunzo, has wiped off its $200 million investment in the business. Following the company’s liquidity crunch and withdrawal from rapid commerce during the last 24 months, Reliance is also not engaged in any discussions to invest in Dunzo or buy it in a distressed sale. Kabeer Biswas, the CEO and cofounder of Dunzo, is currently spearheading negotiations with family offices and wealthy individuals for an acquisition deal that would value the business at INR 300 Cr ($25–$30 million).
Biswas has received assurances from Reliance that they will help him save Dunzo. However, they have no interest in purchasing Dunzo. Two to three years prior, Biswas had rejected their buyout bid, which sought to acquire the hyperlocal business at a valuation close to unicorn. However, according to a media report, Reliance had no interest in Dunzo at all as speedy commerce companies entered the market and Dunzo’s failure to expand beyond a few locations.
Reliance Executives and Other Investors Stepping Down
In 2023, key executives Ashwin Khagiwala and Rajendra Kamath of Reliance Retail, as well as representatives from Lightrock and Lightbox, among other investors, resigned from Dunzo‘s board. The rumoured $30 million price tag for the company’s acquisition would represent a huge decrease from the $770 million Dunzo demanded in its most recent investment round, when Reliance provided the funding. According to reports, Biswas has also discussed a buyout with Flipkart, Swiggy, Tata Group, and Zomato but has not been successful. According to sources, Dunzo has closed in other cities but is still active in some areas of Bengaluru. At the moment, the business continues to operate according to its previous strategy of linking internet customers with nearby merchants.
According to reports earlier this week, Biswas has informed investors of his intention to leave the company. The CEO plans to leave after completing any possible acquisition agreement. Reliance Retail contributed $200 million to Dunzo’s $240 million fundraising round in January 2022. Reliance Retail made its biggest investment in the Indian startup scene with this venture. The acquisition of edtech firm Embibe for INR 1,340 Cr, Clovia for INR 950 Cr, and NetMeds for INR 620 Cr are some of Reliance Industries’ other noteworthy investments. It was considered a sort of strategic investment at the time. Reliance and Dunzo planned to collaborate, with the former facilitating hyperlocal logistics for JioMart and Reliance’s network of retail locations.
The Reason for the Downfall
By 2022, the quick commerce game had altered, even if Dunzo had made it through the busy cycle and hyperlocal boom of 2015. Dunzo’s model was feeling dated, and the quick commerce sector started sprawling its nexus. In an attempt to compete with Blinkit, Instamart, and Zepto, the business started Dunzo Daily, but it was unable to grow outside of Bengaluru, Mumbai, and Delhi. Although it is evident in retrospect that the $240 million investment was insufficient to capitalise on the swift business opportunity, Zepto’s explosive growth brought a third competitor to the market, joining Zomato’s Blinkit and Swiggy-owned Instamart. Just like Zepto, Dunzo was unable to take advantage of this chance. Reliance Retail wants to investigate the rapid commerce possibilities with JioMart in light of Dunzo’s issues. Additionally, Dunzo’s financial condition has deteriorated over the last two years, resulting in significant budget cuts, a long list of unpaid invoices to suppliers, and the departure of founders and important executives.
According to a media outlet, Zepto, a quick commerce platform, is expected to submit its initial public offering (IPO) draft papers in March or April of this year. The delivery company has already obtained the necessary authorisations to relocate its headquarters from Singapore to India.
The business stated that the IPO’s specifics are still being finalised and that it has scheduled a board meeting for January 19 to talk about the size of the IPO, the selection of independent directors, which bankers to hire, and other specifics.
Notably, the National Company Law Tribunal (NCLT) is set to hear the case on January 17 even though Singaporean officials have approved the move. After food delivery services Zomato (Blinkit) and Swiggy (Instamart), parent firms of listed competitors, Zepto will become the first rapid commerce start-up to go public if all goes as planned by April.
Zepto Marketplace Reshaping the B2B Model
In order to shift its business-to-business (B2B) activities to a marketplace model, Zepto has created a new company called Zepto Marketplace. After the operational and regulatory details are resolved, Zepto Marketplace, which was registered in October 2024, will soon transition to the new format, according to sources. According to media reports, the change would give Zepto more control over service and quality assurance. Zepto plans to further improve operations by launching “Thor,” a SaaS inventory management platform, soon. Marketplace models are already used by Zepto’s competitors, such as Blinkit and Swiggy Instamart.
Current Business Model of Zepto
Geddit Convenience, Drogheria Sellers, and Commodum Groceries are the three businesses to which Zepto licenses its brand name and business operations under the current arrangement. These three businesses use the Zepto platform to sell to final customers after buying their merchandise from Kiranakart Technologies Pvt Ltd.
Kiranakart Technologies is essentially a business-to-business (B2B) company that sources and purchases goods directly from brands and resells them to Zepto’s three licensee businesses. These businesses subsequently sell to final customers. The three businesses pay Zepto a licensing fee for each sale they make through the latter’s platform.
According to sources, Zepto has already added additional sellers and plans to continue growing its seller and distribution base with the assistance of the new organisation. It also plans to lessen its focus on the three businesses (Geddit Convenience, Drogheria Sellers, and Commodum Groceries). Other than Geddit Convenience, Drogheria Sellers, and Commodum Groceries, more sellers are probably going to start selling on the Zepto platform in the upcoming months.
In FY24, Zepto’s operating revenue increased by 120% to INR 4,454 crore. Additionally, the business plans to release a distinct app for Zepto Cafe, which offers speedy food delivery services for snacks and other things.
StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.
India’s fashion market is changing, with customers seeking a combination of traditional craftsmanship and contemporary design. Past Modern, founded by Shivang Chandna, is redefining fashion by merging India’s rich heritage with contemporary, ready-to-wear collections that emphasise sustainability.
In this edition of Recap’24, we feature Past Modern and its Founder, Shivang Chandna. He discusses how the brand blends traditional Indian crafts with modern design, its focus on transparency, and its mission to instill pride in Indian culture. With an eye on sustainability and craftsmanship, Past Modern is creating fashion that connects India’s past with its future.
StartupTalky: Give us a brief about Past Modern. What makes it unique in blending tradition with modern fashion?
Mr. Chandna: Past Modern’s intent is to absorb the rich past of our country and present it on a modern palette for the present-day customer. Stories of our country have immense value and they need to be re-packaged to inspire a wider audience. Our ability to tie the influences of the past with the demands of a modern lifestyle together, instill a sense of pride in our community, and design hot-sell products that are highly desirable makes us unique.
Brands must become an extension of their community’s identity and Past Modern is designed for people who are working every day to craft their future and seek to carry the beauty of their past with them, with pride. It is for the modern Indian who is ripe to take on the world.
StartupTalky: What was your motivation behind starting Past Modern? How has the vision evolved since then?
Mr. Chandna: I went to the United States for my college education and it was where I began embracing my Indian identity more so than ever. I believe you have to be removed from your environment at times to explore the depth of yourself and my time there was both an external and internal journey of discovery. I dived into Indian literature, studied the movies of Satyajit Ray and Shyam Benegal, consumed the art of Amrita Sher-Gil, Raza, and Souza, and learned about our country’s vivid past. I was instilled with a new sense of pride in my culture and felt the urge to share these stories with my peers back home.
Fashion has always been a part of my visual expression and while I was embracing my Indian self, I was also seeking new ways to express it through my clothing. I did not want to wear a dhoti to class because I felt it had no fixed form, no pockets, and did not align with my daily needs so the first garment I designed was a trouser that mimicked a dhoti’s silhouette but had the comfort of a sweatpant. That was the beginning of merging the past and the modern.
It was a powerful expression and wearing it to college every day brought attention to it. People began questioning what it was and expressing their desire to own one which made me realise the true power of fashion. If done correctly, fashion can intrigue viewers, and force them to pause, question, and learn; and that is how I knew what my calling was – to express my learnings through clothing. That is the intention of Past Modern – to educate consumers of our country’s glorious past, to instill a new sense of pride, and to weave the beauty of our culture with a modern expression.
To answer your question about evolving, I believe one should be stubborn on vision but flexible in approach so while the vision remains fixated on using clothing as a medium to encourage conversations about Indian creations and instill a sense of pride amongst a new generation of consumers, the approach is flexible.
Though a creative endeavour, fashion is a business and a rather tricky one because our job is to create new styles to allow consumers an extension of their personality on the assumption that they will desire the said product. Fashion is also not a one-person business and requires multiple people throughout the process who depend on us for their livelihood so the balance has to be maintained consistently. We really walk a tightrope every day.
StartupTalky: What new products, collections, or features did you introduce in 2024, and what inspired these designs?
Mr. Chandna: We paid homage to one of India’s most acclaimed modern artists – S.H. Raza through our craft. We developed ready-to-wear and artisanal offerings that built on the ethos of his artistic expression and combined our exquisite craftsmanship. A lot of our attention, as a design studio, is not just focussed on adding new crafts but also on enhancing our current medium. We went through multiple iterations of sequin embroidery to refine the gradient ombre effect achieved by placing each micro sequin with utmost care. The intent was to translate Raza’s color palette on fabric in a manner that provides a certain rhythm to it and it took a lot of hardship to accomplish.
We also built relationships with weavers and expert artisans across the country to build supply channels for hand-woven fabrics and other textile crafts which we seek to integrate into our product offerings next year. This was a rather slow but gratifying process as most of these weavers operate from remote areas and to build those partnerships we had to travel to them and convince them of our intent. It also allowed our design team to learn more about these processes – their intricacies, limitations, and ecological impact. A lot of time was spent consuming new information and working on ways to apply our design philosophy to them. We are very excited to present our offerings next year.
StartupTalky: What is the USP of Past Modern, and how does it stand out in today’s fashion industry?
Mr. Chandna: Past Modern stands out by placing itself right in the middle of the past and the modern. We are focussed on expressing a vision that stems from the past and finds a place in the future. We are constantly researching and exploring ways to modernise past practices of textile developments in India alongside effective communication channels to share stories of our country and its creatives.
Our USP is our ability to tie these influences together, instill a sense of pride amongst our community, and design hot-sell products that are highly desirable. We are a community-focused brand and that has allowed us to stand out because our ethos resonates with a certain audience and they want to connect their identities to the brand and what it represents.
StartupTalky: How has the fashion industry in India and globally evolved in recent years, and how has Past Modern adapted to these changes?
Mr. Chandna: Globally, fashion conglomerates have struggled to maintain consumer interest. New age, independent consumer brands have been able to communicate much more effectively. Consumers around the world appear to share a common sentiment. They are much more informed now and reject being convinced to pay a hefty premium for buying from a ‘heritage house’. They seek transparency and appreciate sincerity. They want to look behind the curtains and ask the right questions – who is designing products, what is the intention, what is the environmental impact, and how is the work environment?
To build a community that swears by the brand and its offerings, it has become quintessential for brands to welcome consumers with wide arms, and share their failures, aspirations, and practices.
At Past Modern, we did not have to adapt to these changes because we are in absolute agreement with these notions and are building our brand communication on the same principles. We showcase our new developments, the team, the studio, and every step of the process. Transparency is key to us and though we may not be perfect, we strive to improve every day and our community will join us on this journey.
StartupTalky: How important is Instagram for Past Modern’s marketing strategy, and how do you engage with your audience on the platform?
Mr. Chandna: Extremely important. As an online brand, we deeply rely on Instagram for our brand communication. It’s a great tool for us to connect with our consumers, showcase our developments, share our inspiration and ethos, and build a community around the brand. We share a lot of content expressing the stories of Indian creatives from the past to build more awareness. Our founder also hosts a podcast series wherein he engages with creatives from multiple fields and discusses myriad topics.
StartupTalky: Customer loyalty is key for any brand. How do you keep your customers engaged and ensure repeat purchases? Could you share any successful retention strategies or loyalty programs?
Mr. Chandna: There is a disbelief that repeat purchases are a result of discounting practices whereas the truth is that repeats occur based on product quality and service delivered. If a customer loves your product and appreciates the support provided from the point of purchase to delivery and after, they will come back to you. If it exceeds their expectations, they will become an ambassador and encourage others around them to buy from you. So the best approach to achieving a repeat customer is to refine the experience and quality consistently. Minor improvements may have a massive impact and minor negligence will have terrible repercussions.
StartupTalky: What tools or technologies do you use to manage your business and keep operations running smoothly?
Mr. Chandna: There are multiple tools we have integrated on our brand website that enhance the customer experience, for example – size finder based on previous purchases, delivery timelines derived from customer pin codes, and video clips of clients wearing our products to help customers better gauge the garment’s appearance. There are also backend tools that allow us to track raw material used, inventory consumed, and tracking software to pinpoint the exact status of an order.
StartupTalky: What challenges did you face in 2024, and how did you overcome them while staying true to your brand values?
Mr. Chandna: 2024 was our growth year. We grew our consumer base and order volume month on month. Hiring quickly and well became extremely crucial to meet operational demands and sustain growth without compromising on our brand commitments. I was the sole individual responsible for design until May but my growing responsibilities encouraged me to build a design team that can translate my vision to reality. This was our year of laying the foundation right for our business and that is extremely challenging because the future of our organization will be built on this and hence it must be laid out well.
We also took up the challenge of offering more ready-to-wear products and introduced a menswear line. As an artisanal brand, time and price are not major constraints but these become extremely crucial when designing for ready-to-wear. Fabric and samples also require more rigorous testing to gauge the impact of everyday wear.
It was a challenge to work with new fabrics, explore printing and embroidery techniques that can enhance garments, and not compromise on comfort but we came out victorious. Most of these styles became our most loved products, consumers were delighted to have the option to wear our brand more frequently, and we added a substantial male audience. This year made us appreciate the importance of chasing new challenges because on the other side of every hurdle lies a wonderful opportunity.
StartupTalky: What growth opportunities do you see for Past Modern in the Indian and global markets? Have you noticed any interesting differences in customer behaviour across Indian states?
Mr. Chandna: There is a greater interest and appreciation for Indian culture around the world. We are finally breaking free of the prejudices and preconceived notions imposed on us and forming a fresh identity. People around the globe are learning that there is more to India outside snake charmer, bullock carts, and spiritual gurus and they are eager to update their perspective. Indian brands across industries, fashion, cosmetics, furniture, and consumables, built on strong Indian ethos but packaged with a modern flair are witnessing tremendous demand.
At home too, consumers are replacing Western brands with Indian counterparts and this is not solely driven by the Swadeshi movement but also because Indian brands are offering better products, tailored better to consumer needs coupled with effective and transparent marketing. Consumers are more self-aware than ever and it is amazing to witness them challenging the status quo. It would be biased to say that Indian brands and businesses are primed to lead the charge in disrupting global market dynamics but I am wholeheartedly rooting for us.
StartupTalky: Looking ahead, what are your goals for expanding Past Modern’s product range, customer base, and presence in the fashion industry?
Mr. Chandna: Past Modern is a mission, before a brand, driven with the intention to revive our rich cultural past through a modern expression. Though clothing is a great medium to express these influences, it would be beautiful to apply the same ethos to other products like perfume, footwear, jewellery, handbags, home textiles, and furniture to name a few. The expression stems from a myriad of influences and hence, it would be terrible to confine it to clothing.
Our foremost desire is to instill a sense of pride for our culture in our consumers without forcing them to compromise on their preferences. If we can achieve that, they will yearn for more products from us that achieve the same objective. We do not necessarily aspire to mark a presence in the fashion industry. Past Modern’s presence should be in the minds of all individuals who love their identity and seek a means to express the maximum version of it. The future is exciting.
StartupTalky: As a founder, what advice would you give to young designers or D2C founders looking to build a unique brand like Past Modern?
Mr. Chandna: Most answers we seek to find lie within ourselves if we have the intrigue and courage to ask the right questions. Do not pay heed to any advice. Take time to discover yourself, find what motivates you, and dedicate your energy to expressing it. To make a mark, you must have a unique offering and you cannot create anything more distinct than yourself.
Small and Medium Enterprises (SMEs) play a vital role in enhancing the standard of living by generating employment opportunities, both in developed and developing nations. Despite numerous studies on business incubators, the significance of entrepreneurial skills in the success of such incubators remains uncertain. Business incubators are instrumental in not only launching startups but also supporting the entire entrepreneurial journey.
Business incubators have emerged as a valuable resource for startups seeking to overcome business challenges. Business incubators provide startups with the necessary support, resources, and guidance to help them grow and succeed. The primary function of business incubators is to enhance the chances of success for innovative startups and facilitate the entrepreneurial process. Initially, incubators were centered around the IT industry; however, they now collaborate with businesses from various industries and orientations. This article delves into the fundamentals of business incubators and incubation, their significance, the various types of incubation services, and the phases that make up the development of business incubation.
A business incubator is an organization or program that is designed to support the development and growth of startup companies. They provide services such as management training, mentorship, co-working space, networking opportunities, access to funding, and much more. Business incubators are perceived to be the mainstay of economic development programs. They create value by combining the entrepreneurial drive of startups with the resources generally available to new ventures.
The people working for a business incubator perform intensive research before supporting or funding startups. The primary objectives of business incubators are creating employment opportunities in the local economy and commercializing technologies.
The National Business Incubation Association (NBIA) defined Business Incubators as a Regional and National Development catalyst tool.
The whole idea behind business incubators is to offer a range of business development services, full access to small spaces on flexible terms, and to meet the needs of new firms. The services offered by a business incubator are designed to enhance the success and growth rate of new enterprises, maximizing their impact on economic development.
The number of incubators has grown considerably in recent years. This rise is attributed to factors such as corporate downsizing, increased entrepreneurship, new technologies, economic globalization, and the transfer of technology.
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Business Incubation is the name given to the process that involves supporting the development and growth of startups through the provision of various resources and services. The goal of business incubation is to help startups overcome the initial hurdles that come with starting and growing a business. There are numerous startups working on revolutionary ideas. But these ventures often need assistance. Business incubators provide this much-needed support. The goal of incubation in a nutshell is to increase the success rate of emerging startups and entities.
Types of Business Incubators
There are seven main types of incubators prevailing in the market today. These are:
1. Corporate Incubators
Their objectives are to enhance entrepreneurial skills and to help startups keep up with other industries/competitors. Corporate incubators target internal and external projects related to the activities of the company. The most common challenge corporate incubators face is the conflict between top-level executives and committees regarding objectives and management-related decisions.
2. Local Economic Development Incubators
They work on economic development by supporting SMEs and specific groups for the overall upliftment of society. These groups include small enterprises, handicraft-related businesses, and locally-sourced companies. Governance risk, volatility in management quality, long hours of negotiation, and conflicts are often associated with such incubators.
3. Private Investors’ Incubators
They assist high-potential businesses (such as technology-intensive startups) and then reap benefits by selling shares. These incubators lag in terms of quality and durability.
4. Academic Incubators
They offer new sources of finance while supporting the entrepreneurial spirit and focusing on civic responsibility. Academic incubators target external projects and projects internal to academic institutions.
5. Venture Capital Incubators
Venture capital firms have become a popular topic in the business world lately. They see incubators as a way to generate profits, and thus invest in new companies or offer funding in exchange for a share or ownership in the company. These firms may also provide management teams with access to angel investors and financial management as part of their incubation package.
6. Kitchen incubators
Kitchen incubators provide a safe space for entrepreneurs, chefs, and restaurateurs to develop their ideas. They offer a commercial kitchen or kitchen space where they can experiment with specialty foods, create new restaurant concepts or even start a ghost kitchen. Kitchen incubators are similar to other business incubators as they support and guide the development of “kitchens” from the initial stages to the full launch. Throughout the process, they provide mentorship, access to funding, and educational opportunities.
7. Social Incubators
A social incubator is an organization that fosters and supports individuals with innovative ideas for businesses that can bring positive change in the world. These businesses could be non-profit organizations or companies that aim to create products or services that contribute to environmental sustainability or social progress in society.
The process of business incubation typically involves several stages:
Application: Startups apply to a business incubator program by submitting an application and business plan. Some incubators have selective application criteria, while others may have a broader range of eligibility criteria.
Screening: The incubator reviews the application and business plan to determine if the startup is a good fit for the program. The screening process may involve an interview or presentation by the startup.
Incubation: Once accepted into the program, the startup works with the incubator to develop and execute its business plan. The incubator provides the startup with access to resources, mentorship, and other support services to help them achieve their goals.
Graduation: Once the startup has achieved its goals and is ready to operate independently, it graduates from the program. Graduation typically involves leaving the incubator’s physical space and resources but may still involve ongoing mentorship and networking opportunities.
What is the Role and Function of a Business Incubator in Startup Growth?
Incubators provide resources and services to entrepreneurs, including working space and offices, technical expertise, management mentoring, assistance in compiling an effective business plan, shared administrative services, technical support, business networking, and advice on intellectual property, sources of financing, markets, and strict admission/exit rules.
An incubator concentrates its effort on helping innovative and fast-growth startups that are likely to have a significant impact on the local economy. The role of business incubators in this context is pivotal, as they provide a supportive ecosystem and resources that empower these startups to thrive and contribute substantially to economic development.
Some of the Roles and Functions of Business Incubators Include
They guide startups/ventures on how to compete with established industry players.
Business incubators help with the basics of business.
Business incubators organize comprehensive business training programs.
They act as advisory boards and mentors.
They help in management team identification.
They offer marketing and PR assistance to new companies for brand establishment.
They help with business etiquette.
They provide technology commercialization assistance.
They help with regulatory compliance.
They provide intellectual property management.
They create jobs for mid-career personnel and veteran executives, benefiting communities and driving economic growth.
Features of Business Incubators
Industry-Specific Expertise: Some incubators offer specialized support tailored to specific industries.
Access to Research and Development Resources: Incubators offer startups R&D facilities for research, prototyping, and testing without high upfront costs.
Government Liaison and Advocacy: Business incubators assist startups with regulatory frameworks and foster government connections to streamline processes and address challenges.
Global Market Expansion Support: Incubators help startups go global by providing market insights and partnerships.
Corporate Partnerships: Incubators partner with corporations to offer startups resources, mentorship, and collaboration opportunities.
Focus on Sustainable Practices: Some business incubators prioritize eco and social responsibility. The role of the incubation center in this context is crucial, as it plays a pivotal role in fostering a supportive environment.
In-House Acceleration Programs: Some programs offer an accelerated phase with intensive mentoring, resources, and a condensed timeline to rapidly move startups toward scalability.
Exit Strategy Support: Incubators can assist startups with exit strategies like IPOs, mergers, or acquisitions for a smooth transition to the next phase of growth.
Market Intelligence Services: Startups can access market research, trend analysis, and competitive intelligence.
Incubator Alumni Network: A strong alumni network fosters collaboration and mentorship among successful graduates of the incubator program.
Choosing the Right Business Incubator
Understand Your Needs: Before picking an incubator, know what your startup needs. Incubators focus on different areas, so you need to identify the resources, mentorship, and networks that will help your business grow.
Research Incubators: Look into different incubators to find one that matches your business. They’re often supported by local schools, governments, or business organizations and offer more than regular business programs, focusing specifically on startups.
Evaluate Benefits and Costs: Once you have options, compare what each incubator offers against its costs. Incubators usually provide services for 1-2 years and may charge fees or take equity in your business. Make sure the benefits are worth the cost.
Make the Decision: After evaluating your options, choose the incubator that best fits your needs. The right choice can provide the resources, mentorship, and connections to help your startup succeed.
Assist ventures with both long-term and short-term growth.
Assist ventures only for short-term growth and that too for a small duration.
Allow companies to grow at their own pace.
Companies are under pressure to grow quickly.
Are generally non-profit organisations.
Are usually for-profit organisations.
May not be able to offer access to funds.
Offer access to funds and are also known as angel investors.
Don’t promise extensive growth to ventures.
Promise substantial growth to ventures.
They provide services such as Office space, mentorship, networking opportunities, business development support.
They provide services such as Mentorship, networking opportunities, access to funding, training, and education
Overall, business incubators are more focused on providing long-term support to early-stage startups, while accelerators typically work with startups that already have some traction and are looking to rapidly grow their business. Incubators may offer a broader range of services and have less selective application criteria, while accelerators are typically more focused on funding and may require equity in the startups they work with.
Startup Incubators and Accelerators: Definitions, Differences and Benefits
The performance of business incubators is often affected by incompetence in business management, financial handling, human resource management, and the lack of interpersonal and people skills.
With regard to the role of incubation centers in entrepreneurship development and the skills required for them to be efficient, several studies revealed that administration, technical, financial management, marketing, human resource management, and interpersonal skills were extremely important.
Access to advanced technology-based facilities, self-sustainability measures, support structures, and funding were found to be the major challenges confronting business incubators. It is also recommended that incubation managers who lack the necessary entrepreneurial skills enroll in business courses at local colleges or universities.
Business incubators provide resources and services to entrepreneurs, including working space and offices.
What are the types of business incubators?
Types of business incubators include corporate incubators, academic incubators, local economic development incubators, and private investors’ incubators.
What is the role of an incubator in startup?
Business incubators provide networking activities, help startups save operational costs, help with presentation skills, and get access to loans and funding.
What is the primary purpose of a business incubator in entrepreneurship?
Business incubators provide startups and entrepreneurs with the funding they require and provide access to industry mentors.
When was the first business incubator started?
The first business incubator was started in 1959 by Joseph L. Mancuso. It was opened at the Batavia Industrial Center in Batavia, New York.
How long does a startup typically stay in a business incubator?
The length of time a startup stays in a business incubator can vary depending on the program and the needs of the startup. Incubator programs can range from a few months to several years.
Do business incubators provide funding for startups?
Many business incubators offer startups access to funding sources, including seed funding, venture capital, and other types of financing. However, not all incubators provide funding, so it’s important to research individual programs to determine their offerings.
What types of mentorship do business incubators offer?
Business incubators offer various types of mentorship, including one-on-one mentoring from experienced entrepreneurs and industry experts, as well as group mentoring and peer-to-peer mentoring opportunities.
How do I apply to a business incubator program?
To apply to a business incubator program, startups typically need to submit an application and business plan. Some incubators may also require a presentation or interview as part of the application process.
Describe the functions of the incubation centre?
The startup incubation centre acts as a catalyst for growth, providing necessary resources, mentorship, and a collaborative workspace. It fosters innovative ventures, accelerates their development, and creates a supportive ecosystem for entrepreneurial success.
What is the role of incubator in startup?
An incubator helps startups by providing resources, mentorship, and networking opportunities. It supports early-stage businesses with guidance, funding options, and a collaborative environment to grow and succeed.
StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.
Men’s ethnic wear is a growing industry, and a name that is making a significant mark of its own in this industry is Vanshik. The brand combines modern designs with traditional craftsmanship, redefining men’s festive and wedding fashion.
In this edition of Recap’24, we feature Vanshik, a brand known for its sherwanis, bandhgalas, kurtas, and bundi sets. Vikas Jaggi, Founder of Vanshik, shares the inspiration behind creating the brand, its popular collections like Lucknowis and Pashminas, and its plans for growth in the men’s ethnic wear market.
StartupTalky: What inspired the creation of Vanshik, and how did you identify a gap in the men’s ethnic wear market that your brand addresses?
Mr. Jaggi: Men were raising their style quotient considerably and wanted to break away from the mould of the plain, boring look. Getting married in a suit or wearing a shirt and trousers for festivals and weddings felt so unauthentic. This realization helped us identify the market gap and ultimately inspired the creation of Vanshik.
StartupTalky: What are Vanshik’s key categories of ethnic wear?
Mr. Jaggi: The main categories of ethnic wear offered by Vanshik include Sherwanis, Bandhgala, Luxurious Kurtas, and Bundi Sets.
StartupTalky: Could you highlight your most popular designs or collections?
Mr. Jaggi: Lucknowis, Paschminas, and Kashmiri collections are the most popular collections of Vanshik.
StartupTalky: How do you ensure that Vanshik products blend traditional craftsmanship with modern style preferences?
Mr. Jaggi: Our silhouettes are sleek and slender, combined with fine, intricately blended craftsmanship on the garments. This approach renders the desired sharp and sophisticated look.
StartupTalky: Festive seasons are big for ethnic wear. What marketing strategies have proven effective for Vanshik during these times?
Mr. Jaggi: During festive seasons, the market looks for cheerful and easy silhouettes that are both fun and comfortable. All our campaigns are designed to promote these looks.
StartupTalky: Given the rise of online shopping, how does Vanshik create a unique and engaging customer experience on its e-commerce platform?
Mr. Jaggi: To create a unique and engaging customer experience, we focus on several key features:
Easy-to-navigate website
Color options
Customization windows
Smooth payment gateways
Order follow-up and updates
After-sales follow-up
StartupTalky: What strategies have you found to be most effective in driving online sales?
Mr. Jaggi: Online promotions, as per the season’s flavor—such as festivals and weddings—have proven to be highly effective in driving sales.
StartupTalky: What has been the most successful marketing strategy for Vanshik?
Mr. Jaggi: Our most successful strategy is creating a diverse range of categories to cater to a wide demographic and effectively promoting them.
StartupTalky: As the ethnic wear market continues to grow, what is Vanshik’s vision for the next 2-3 years, and how do you plan to scale in terms of product range, geographic reach, or customer base?
Mr. Jaggi: We see Vanshik solidifying its base in the coming years as a brand to reckon with in the men’s ethnic wear segment. Our plan to scale includes increasing production and promoting the brand both domestically and globally.
StartupTalky: What advice would you give to aspiring entrepreneurs looking to start their own ethnic wear brand, and what key lessons have you learned in your journey?
Mr. Jaggi: Hang on to the unique quality of your brand and work on that sincerely. Don’t try to do what the market is doing just to get numbers. Instead, focus on building your concept and slowly and steadily take off from there. The key lessons I’ve learned are that patience, persistence, and passion can help you climb any mountain.
In this interaction with Sukrit Bhattacharya, Product Head at Jukshio Technology Innovation Pvt. Ltd., we look at the company’s journey from its start in 2019 to becoming a leader in AI-driven KYC and identity verification. Sukrit explains how Jukshio is changing identity authentication with technologies like facial recognition and fraud detection. We also talk about the challenges financial institutions face with compliance, how Jukshio solves these problems and the company’s plans for growth. Sukrit also shares his views on how AI will shape the future of KYC and improve onboarding processes.
StartupTalky: Tell us the story behind Jukshio’s founding and how it has grown into a leading AI-driven KYC and identity verification platform.
Jukshio was established in 2019 with a vision to revolutionize identity authentication processes through intelligent digital solutions. From the outset, the company focused on transforming human-machine interactions, leveraging advanced visual AI technologies to address identity verification and access control challenges.
As a game-changer in the AI-driven identity verification and Fraud Detection domain, Jukshio has developed cutting-edge solutions, including facial recognition, liveness detection, personality detection, and document-based identity verification. These technologies create customizable human-machine environments, ensuring high accuracy, security, and user convenience.
Over the years, Jukshio has established itself as a leader in the field and has significantly impacted the industry. Our solutions have enabled businesses across industries to streamline onboarding processes, prevent fraud, and enhance operational efficiency, setting a new KYC and identity verification standard.
StartupTalky: What differentiates Jukshio’s KYC solutions from other providers in the market?
Jukshio’s AI-powered KYC solutions stand out for their precision, speed, and adaptability to varied business requirements. Our sophisticated algorithms enable real-time identity verification with low error rates, achieving 100% compliance and deployment in 48 hours while lowering operating expenses. What sets us apart from other solutions out there is our inclusion of cutting-edge technologies such as fraud detection, liveness checks, and document authenticity analysis, ensuring a smooth and secure onboarding process. Our platform’s scalability and customizability further cater to the diverse needs of businesses, from BFSI to fintech. At Jukshio, we prioritize innovation and security, empowering enterprises to build trust with their customers in a digital-first world.
StartupTalky: How does Jukshio’s fraud detection model effectively address KYC-related fraud, and what enables your team to deploy these solutions within 48 hours while maintaining accuracy?
Jukshio’s fraud detection model effectively addresses KYC-related fraud by leveraging its state-of-the-art DFraud solution, which safeguards against document manipulation and identity duplication. The advanced platform ensures robust data privacy with end-to-end encryption and compliance controls, preventing breaches while maintaining trust. A key enabler of Jukshio’s swift deployment is its proprietary, adaptable AI supported by a stringent MLOps pipeline. This system achieves industry-leading accuracy, processing over half a million onboardings daily.
Jukshio’s Continuous Learning Platform combines AI with human expertise to identify fraud patterns using a dynamic genuity map. This innovative approach allows the company to detect, address, and deploy solutions for emerging fraud vectors within 48 hours, ensuring agility and reliability in combating KYC-related fraud. By integrating digital KYC tools, including Video KYC and real-time fraud prevention, Jukshio minimizes onboarding delays, offering a seamless and secure experience for businesses and customers alike.
StartupTalky: What are the key compliance challenges financial institutions face today in their KYC processes, and how does Jukshio address them?
Financial institutions grapple with compliance issues due to evolving regulatory changes, such as the RBI Master Directions on KYC and AML/CFT requirements. These changes increase operational complexity, especially when implementing robust KYC processes across multiple locations or digital platforms, often constrained by legacy systems. The shift to digital KYC approaches, like the Video Customer Identification Process (V-CIP), further complicates matters, necessitating substantial investments in technology, training, and infrastructure.
Additionally, institutions frequently encounter sophisticated document forgeries, such as counterfeit Aadhaar cards and altered ID documents, making identity verification more challenging. Data privacy and security concerns are particularly significant, with the Aadhaar Act and the impending Digital Personal Data Protection Act (2023) mandating stringent measures to safeguard sensitive customer information.
StartupTalky: Jukshio has clients, including Jio Telecom, Jio Payments Bank, Bajaj and Mannapuram. How have these partnerships influenced the development of your platform and expanded your market presence?
Jukshio has partnered with several prominent clients across various sectors, significantly influencing the development of its platform and expanding its market presence. Each client faced unique pain points that Jukshio was specifically equipped to address, leading to the successful implementation of its solutions.
One common challenge among these clients was the need for a robust identity verification (IDV) process that could scale seamlessly while ensuring compliance with regulatory standards. Many organizations struggled with fragmented solutions that failed to provide a comprehensive approach to identity verification, leading to increased operational costs and potential security vulnerabilities. Jukshio was built to overcome these issues by offering a holistic AI-driven KYC and IDV solution that seamlessly integrates scaling, compliance, and security into a single platform. This approach has impressed clients, as it serves as a “silver bullet” for their identity verification challenges.
Moreover, several clients have transitioned from their previous solution providers after implementing Jukshio’s solutions, recognizing the sophisticated yet straightforward performance and reliability of Jukshio’s offerings. The platform’s ability to adapt to emerging fraud vectors has been particularly noteworthy, as it leverages AI-driven technologies to deliver unmatched results in the industry.
As Jukshio continues to grow, it remains committed to addressing newer, more complex issues arising from fraud’s ever-evolving nature. By focusing on innovative, AI-driven solutions, Jukshio aims to stay ahead of the curve and provide its clients with the tools they need to navigate the challenges of the future.
StartupTalky: How can regulators like RBI support innovation in KYC while ensuring consumer protection?
Encouraging the development of interoperable KYC platforms is essential to expediting and enhancing the KYC procedure. By using these solutions, customers can safely share verified KYC information with several financial institutions, eliminating the need for duplicate steps and lowering compliance expenses. Additionally, by integrating fraud detection with the KYC procedures of individual institutions, the development of a centralized fraud prevention ecosystem contributes to improving the financial system.
A consolidated database of blacklisted clients would act as a deterrent to repeat fraudsters throughout the BFSI sector, and this technology would identify and report suspicious activities. Promoting public-private partnerships (PPP) can also have a transformative effect by uniting fintechs, traditional financial institutions, and technology companies to develop reliable and expandable KYC systems.
StartupTalky: The demand for secure and efficient KYC processes is growing across industries. What trends or innovations do you see shaping this space globally?
The need for safe and effective KYC procedures is revolutionizing how companies onboard clients worldwide. Driven by innovations, this transformation offers unmatched speed and precision, blockchain technology, biometric authentication, and AI-powered verification. We observe a trend toward hyper-automation at Jukshio, where procedures are optimized to minimize human involvement, guaranteeing adherence while improving user experience.
Furthermore, legal frameworks are changing to support digital-first strategies, opening up smooth, cross-border verification possibilities. Scalable and flexible KYC solutions will prevent fraud and foster consumer trust as sectors, including BFSI, FinTech, and e-commerce, prioritize secure onboarding.
StartupTalky: What are Jukshio’s plans for scaling, and how will AI shape the future of KYC in the next 3-5 years?
AI, blockchain, and collaborative ecosystem advancements are poised to significantly disrupt the KYC and identity verification landscape. AI and machine learning will improve efficiency with capabilities such as AI copilots, better fraud detection utilizing behavioral biometrics, advanced face-matching algorithms, and real-time document authentication. Blockchain adoption will allow decentralized digital wallets and self-sovereign identities, allowing users more control over their data while improving privacy and security. Collaboration between financial institutions and fintechs will stimulate innovation, streamline KYC processes, and combat fraud.
Jukshio has extensive plans to scale up rapidly – in India and overseas – and establish its ID Verification platform as an enterprise standard to build a secure and trustworthy onboarding system for digital customers.
Jukshio is driving innovation in two primary areas: deepening its technological capabilities and expanding its service offerings. On the technological front, it is enhancing its ability to detect and counter emerging fraud techniques by developing advanced architectures and models. In terms of service breadth, the company is evolving from offering point solutions to providing a collaborative platform using facial biometrics to enable the secure sharing of fraudster information across financial institutions, empowering companies to collectively combat fraud in our digital world by serving genuine customers more effectively.
Jukshio envisions a future where every individual possesses a digital certification accessible via personal devices and the cloud. This system will enable seamless and secure digital interactions, reflecting the company’s commitment to shaping the future of online security with innovation and integrity. The company’s dedication to advancing digital verification and cybersecurity positions it as a key player in fulfilling the ever-changing demands of the digital age.
India’s AI market is expected to reach $8.03 billion in 2025. This represents a 20-fold growth in just five years!
The potential is enormous, but many aspiring entrepreneurs find it difficult to transform their AI business ideas into reality. Starting an AI company in India demands more than technical expertise. A strategic approach becomes essential for everything from selecting the right business model to establishing a strong market presence. We too, have experienced the challenges of building a successful AI company in India. Thus, we compiled this – a content piece that will help you direct your path from idea to execution. Students learning about business opportunities and experienced professionals ready to take a closer look at the AI industry can refer to this as a step-by-step manual to build and scale an AI company in India.
Your AI business idea can become a reality. Let’s get started!
The right business model selection plays a significant role in any AI company’s success in India. Many startups struggle because they choose the wrong approach. Our experience in the Indian market and studying so many companies in & out reveals the most viable options.
B2B vs B2C Opportunities
B2B AI solutions in India provide more stable revenue potential than B2C. B2C markets look attractive due to their scale. B2B clients show more willingness to pay premium prices for AI solutions that solve specific business problems. B2B buyers make research-driven purchasing decisions and focus on long-term value, which makes them ideal customers for AI solutions.
B2B comes with its challenges – longer sales cycles and complex decision-making processes. B2C offers straightforward user acquisition but needs substantial marketing investment to stand out in a crowded market.
Revenue Models for AI Companies
We went through the reports and did a thorough market analysis. Here’s what we found out about the most successful revenue models for AI companies in India:
Subscription-Based Services: Offering tiered access to AI tools with recurring revenue
Licensing Model: Selling proprietary AI algorithms to other businesses
Consulting Services: Providing specialised AI implementation and strategy
Data Monetisation: Analysing and selling valuable insights
AI-as-a-Service (AIaaS): Delivering cloud-based AI capabilities on demand
Pricing Strategies
A value-based pricing approach works best for AI solutions. A thorough market research shows successful AI companies in India moving away from traditional fixed pricing to flexible models. You might want to implement:
Usage-Based Pricing: Charging based on API calls or compute time
Outcome-Based Pricing: Linking fees to achieved results
Hybrid Models: Combining fixed subscriptions with variable usage fees
Your pricing should match the value you deliver. AI startups in predictive analytics charge based on their client’s cost savings, while automation services companies price per automated process. It is important to note that your business model choice will substantially affect your company’s scalability and profitability. The most successful AI companies in India start with a focused approach – either B2B or B2C – and expand their offerings after establishing a strong market presence.
Economic Value Added by Data and Artificial Intelligence in India in 2025, By Sector
Setting Up Technical Infrastructure for Your AI Business
A strong technical infrastructure forms the foundation of any successful AI company in India. I’ve spent years scaling an AI tool myself and my experience tells me that selecting the right technical stack determines your startup’s success.
Development Tools and Platforms
We have tested numerous development tools, and here are the ones we recommend for AI companies in 2025:
AI-Powered Development Tools
GitHub Copilot for code assistance
Claude for complex analysis
Microsoft Copilot for productivity
Cursor for AI-assisted coding
These tools can significantly improve the development speed and code quality. We’ve noticed that using these AI-powered platforms can reduce development time by up to 40%.
Security Implementation
In our experience, security implementation for AI companies requires a multi-layered approach. These critical security measures are essential for your startup’s success:
Data Protection
Implement robust data governance policies
Regular security audits and penetration testing
Compliance with GDPR and Indian data protection laws
Infrastructure Security
AI-powered threat detection systems
Regular vulnerability assessments
Secure model deployment protocols
As a starter in this arena, using container platforms helps achieve public cloud functionalities while maintaining security. Your team (in case you have one) regularly monitors security through AI-powered tools that provide real-time threat detection and response.
Remember, as we scale our AI operations, we shall ensure that our infrastructure grows with us. Starting out with a flexible and scalable infrastructure saves significant costs and headaches down the line. Also, your cloud expenses should be optimised through careful resource allocation and monitoring, which has helped us maintain profitability while scaling our AI company in India.
Marketing an AI company requires a different approach than traditional businesses. Success here comes from combining advanced AI tools with proven marketing strategies. Here’s how you can build our market presence effectively.
Building Brand Presence
In my experience, establishing a strong brand presence starts with data-driven decision-making. In my stint, I used AI tools to analyse market trends and customer behaviour, helping me create a consistent brand voice across all channels. We at ST, have also found that personalising our social media content through AI has increased our engagement rates by 40%. Through machine learning algorithms, brands can also create targeted content that resonates with different audience segments.
Lead Generation Strategies
Our lead generation approach combines AI-powered tools with human insight. We’ve developed a comprehensive strategy that includes:
Automated Lead Scoring
Using predictive analytics to identify high-potential leads
Strategic partnerships are crucial for scaling an AI company in India. A partnership strategy focuses on creating mutually beneficial relationships with:
Technology Partners: It refers to collaborating with cloud service providers and hardware manufacturers to enhance our service delivery.
Industry Specialists: Partnering with domain experts can further help you better understand sector-specific challenges.
Research Institutions: In fact, having ties with academic institutions can keep businesses at the forefront of AI innovation.
Through these partnerships, as a startup or business, you can also expand the market reach while maintaining your focus on innovation. In this scenario, it is important to regularly organise AI workshops and knowledge-sharing sessions with your partners, which can help establish your company as a thought leader in the Indian AI ecosystem.
Through implementing these strategies, one can see consistent growth in both the market presence and lead quality. An AI-driven marketing approach can not only reduce customer acquisition costs but can also improve your conversion rates significantly.
Operational excellence is the backbone of one’s success as an AI company in India. By combining advanced AI tools with streamlined processes, you can create a foundation for sustainable growth.
Project Management Frameworks
Companies are reinventing their project management approach by implementing AI-driven frameworks. My personal experience as a writer, entrepreneur and builder also tells me this – traditional methodologies aren’t sufficient for AI projects, which require more flexibility and experimentation.
Quality Assurance Processes
Quality assurance in AI projects demands a different approach than traditional software testing. You should ideally have a comprehensive QA strategy that leverages artificial intelligence at every step:
Automated Testing
AI-powered test case generation
Real-time performance monitoring
Predictive error detection
Data Validation
Automated data quality checks
Pattern recognition for anomalies
Continuous learning systems
Ideal AI-driven QA processes can reduce testing time by 60% while improving accuracy by 40% or more. This efficiency can be crucial for maintaining a competitive edge in the Indian market.
Customer Support Systems
You can transform customer support by implementing AI-powered systems that provide 24/7 assistance. This approach combines automated solutions with human expertise, creating a seamless support experience.
The key to your success is through implementing AI that can handle routine inquiries while intelligently routing complex issues to human agents. This hybrid model can result in:
Reduced Response Times: Average response time decreased from 2-4 hours to less than 10 minutes
Improved Satisfaction: Customer satisfaction scores may increase significantly.
Cost Efficiency: Support costs may further be reduced by 45% while handling 3x more inquiries
Through leveraging AI in your operations, you can improve efficiency as well as create one of the most profitable business models in India. These systems continuously learn and adapt, ensuring that you stay ahead of market demands while maintaining operational excellence.
An international expansion strategy further leverages India’s position as a global AI talent hub. We’ve found that 88% of organisations are now open to global hiring, which has transformed how we approach talent acquisition and market expansion.
We’re capitalising on international opportunities through:
Global Talent Integration
Access to diverse skill sets
Cross-border knowledge transfer
Enhanced innovation capabilities
24/7 operational capability
Strategic Partnerships
In scaling an AI company, strategic partnerships are crucial for accelerated growth. A partnership approach focuses on collaboration with cloud providers, industry leaders, and research institutions. You can see remarkable success through partnerships that:
Provide access to advanced technology and expertise
Reduce infrastructure development costs
Accelerate time-to-market for new solutions
Enable seamless integration with existing systems
An experience shows that partnerships with cloud providers have been particularly valuable. Through these collaborations, you can reduce your infrastructure costs by 45% while improving the service delivery capabilities. Through leveraging these partnerships, you can expand your service offerings beyond traditional IT services. You can focus on specialised AI solutions that address specific industry challenges, which has helped maintain a competitive edge in both domestic and international markets. The growth strategy also includes significant investment in upskilling your workforce.
Conclusion
Starting an AI company in India offers incredible opportunities, especially with the market projected to reach billions of dollars by 2025. Through this journey, we’ve learned that success depends on making smart choices across multiple areas – from selecting the right business model to building robust technical infrastructure.
My experience shows that B2B solutions currently offer the most stable revenue potential, while AI-powered operational systems can dramatically improve efficiency and customer satisfaction. We’ve seen firsthand how strategic partnerships and data-driven marketing approaches help create sustainable growth in this competitive arena. You should remember that building a successful AI company requires constant adaptation and learning. Make sure you focus on creating value through your chosen business model, maintain strong security practises, and keep scaling your operations thoughtfully.
Speaking of learning and growth, we’d love to connect with you on StartupTalky’s Instagram, where we share entertaining memes and inspiring startup stories to keep your entrepreneurial spirit high! Most importantly, stay focused on solving real problems with AI technology. When you combine technical excellence with strong business fundamentals, you’ll be well-positioned to capture the massive opportunities in India’s growing AI market.
FAQs
Which are the most successful revenue models for AI companies in India?
Some of the most successful revenue models for AI companies in India are:
Subscription-Based Services
Licensing Model
Consulting Services
Data Monetisation
AI-as-a-Service (AIaaS)
Which pricing model is best for AI companies in India?
A value-based pricing approach works best for AI solutions. You can also implement pricing models such as:
Usage-Based Pricing: Charging based on API calls or compute time
Outcome-Based Pricing: Linking fees to achieved results
Hybrid Models: Combining fixed subscriptions with variable usage fees
What are some AI-powered development tools for coding and productivity?
StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.
Eyewear is no longer just a necessity—it has become a statement of style, identity, and self-expression. Abdus Samad, the visionary founder of Sam & Marshall Eyewear, has redefined this perspective by creating a brand that merges functionality with fashion. Inspired by his deep connection to eyewear and passion for innovation, Samad has turned eyewear into more than a utility—making it a lifestyle accessory.
In this edition of Recap’24, Samad shares the journey behind Sam & Marshall Eyewear, its unique collections like the “Perspective: India Birthday Launch,” and how the brand stays ahead in a competitive market. From facing challenges in 2024 to exploring trends like smart glasses and AR, Samad offers insights into the future of eyewear and valuable lessons for aspiring entrepreneurs.
StartupTalky: What inspired you to start Sam & Marshall Eyewear, and how does it reflect your vision for eyewear fashion?
Mr. Samad: The foundation of Sam & Marshall Eyewear is deeply rooted in my personal connection to eyewear. Growing up in an environment where my father’s eyewear business was a constant influence, I developed an innate appreciation for the craft. As a child, I was always seen with sunglasses, which evolved into a personal obsession with how eyewear could shape identity and elevate style. This passion, paired with a desire to break free from conventional eyewear, inspired me to create a brand that doesn’t just offer glasses but aims to make eyewear a true expression of individuality. At Sam & Marshall, we are committed to redefining the way eyewear is perceived—where style meets practicality, and design meets self-expression.
StartupTalky: Can you share the key products and features you’ve introduced recently to meet customer expectations?
Mr. Samad: We’ve been working hard to keep up with what our customers want. Our product range now includes everything from sunglasses to prescription eyewear, and even sports sunglasses. One of the most exciting things we’ve done recently is the “Perspective: India Birthday Launch” collection. It’s our way of saying thank you to India for supporting us over the past five years. This special collection is inspired by the beautiful landscapes across India, and each pair reflects a unique perspective. It’s a way for us to blend style with meaning while showing our gratitude for the incredible journey we’ve had so far.
StartupTalky: What factors do you consider when designing and curating new collections to stay relevant in the evolving eyewear market?
Mr. Samad: When designing new collections, our primary focus is on blending timeless aesthetics with current trends. We aim to create pieces that don’t just follow fleeting fads but offer long-lasting appeal. Customer feedback plays a huge role—whether it’s through reviews, direct feedback, or social media interactions, we take every input seriously to ensure we’re meeting their expectations.
We also consider functionality and lifestyle needs, designing eyewear that’s versatile and practical for everyday use, whether it’s for work, sports, or leisure. Materials are another key factor—we prioritize sustainable and durable options like bio-based acetate and tinted metal to ensure our products align with modern values.
StartupTalky: With over 100,000 happy customers, how do you keep them engaged and ensure repeat purchases as an e-commerce brand? Can you share specific customer retention initiatives or loyalty programs that have proven successful for your brand?
Mr. Samad: In the early days, we took a very personal approach to customer engagement by calling them directly to gather feedback. This not only helped us improve but also built strong, trusting relationships with our customers. As we’ve grown, we’ve continued to prioritize that personal touch, even as we scale. We’re currently working on launching a loyalty program that will reward our most loyal customers with exclusive benefits, and it will tie in with a new product line we’re preparing to release. We believe these initiatives, along with consistently offering high-quality products and excellent service, will help keep our customers engaged and ensure repeat purchases.
StartupTalky: What are the main strategies you use for marketing your products? Tell us about any growth hack that you pulled off.
Mr. Samad: Our marketing success lies in being consistent with our content and staying ahead with innovative approaches. We focus on creating visually appealing, relatable, and informative content that highlights our products’ quality and style. Whether it’s introducing new collections or engaging with trends, we ensure our messaging stays fresh and relevant.
One of our most effective growth hacks has been leveraging seasonal sales and exclusive launches to create excitement and drive traffic. By aligning product drops with customer demand and timing them strategically, we’ve been able to boost visibility and sales significantly. It’s about understanding what our audience wants and delivering it consistently in a way that keeps them engaged.
StartupTalky: What tools or technologies do you use in your e-commerce operations to improve the customer shopping experience and streamline business processes?
Mr. Samad: We rely on a range of tools and technologies to ensure a seamless shopping experience and efficient operations. For logistics and order fulfillment, we use platforms like Logisy to optimize shipping, track deliveries, and manage returns efficiently. Our website is built to prioritize user experience, with features like easy navigation, secure payment gateways, and clear product categorization to help customers find what they need quickly.
StartupTalky: What were the biggest challenges Sam & Marshall faced in 2024, and how did you overcome them?
Mr. Samad: One of the biggest challenges we faced in 2024 was finding the right partners in procurement who could align with our vision for quality and innovation. It was crucial to work with suppliers who understood our commitment to delivering high-quality products that meet our customers’ expectations.
This mismatch initially caused procurement issues and delays, but we took proactive steps to address it. By refining our partner selection process, prioritizing communication, and establishing clear quality benchmarks, we were able to overcome these challenges.
StartupTalky: What opportunities do you see for scaling your brand, and how do you plan to grow your products, customers, and team?
Mr. Samad: We see tremendous opportunities for growth by diversifying our offerings and expanding our reach. One of our key focuses is stepping into offline retail to complement our strong online presence. This will allow us to connect with customers directly and enhance the overall brand experience.
We’re also committed to continuous product innovation, ensuring we stay ahead of market trends while delivering better quality with every launch. Expanding into new categories and improving our existing lines will help us cater to a wider audience. As we scale, we also plan to invest in building a stronger, more skilled team that shares our vision and passion. These steps will allow us to grow our customer base while staying true to the quality and values that define Sam & Marshall.
StartupTalky: How has the eyewear space evolved in recent years, and what trends or opportunities excite you most about its future?
Mr. Samad: The eyewear space has evolved significantly in recent years. What was once considered just a functional product has now become an essential lifestyle accessory. People are no longer just buying glasses for vision correction but for personal style, comfort, and self-expression. This shift in perception has opened up exciting opportunities for brands to innovate and offer eyewear that combines both fashion and functionality.
Looking ahead, one of the biggest opportunities is to position eyewear as a tech product that can serve even broader purposes for the masses. With the rise of smart glasses, augmented reality, and enhanced lenses, there’s great potential to integrate technology into eyewear to make it more useful and versatile for everyday life. This is an exciting direction for the industry, and it’s something we’re eager to explore.
StartupTalky: What’s one piece of advice you’d like to give to other founders from your journey so far?
Mr. Samad: Stay consistent, and if you truly believe in something, take action—just start doing it. The journey won’t always be easy, but progress comes from persistence and effort. Don’t wait for the perfect moment or overthink every detail; the key is to keep moving forward. Trust in your vision, put in the work, and things will start to align over time. Momentum builds success.
Nitin Konde
