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  • Franchising Has Been a Launchpad for Us: Kunal Sethi, CEO of The Detailing Mafia

    In an exclusive interaction with StartupTalky, Mr. Kunal Sethi, CEO of The Detailing Mafia, provides an inside look at how his company has transformed the high-end car detailing industry. With a network of over 180 studios across India, Sethi discusses the advantages of their franchise model, the comprehensive support and training for franchisees, and strategies for maintaining quality. He also shares insights into the challenges faced and the future growth plans for this innovative brand in the car care market.

    StartupTalky: What does The Detailing Mafia do, and what are the main services offered?

    Mr. Sethi: The Detailing Mafia is a high-end car cleaning and detailing studio. Over a short period of time in the industry, our brand showcases a portfolio of 180+ studios across India, providing services with unmatched quality, reliability, and durability and giving attention to detailing. We offer several services in the detailing process, including PPF, Ceramic coating, glass films, ceramic wash, maintenance wash, car denting/painting, windshield protection field, and bike detailing.

    StartupTalky: Why did you choose the franchise business model? How has it contributed to your company’s growth and success?

    Mr. Sethi: Franchising the brand was always on our horizon. When we started the concept of premium car detailing, it was unique, hard to find, and premium, and we had people ready to collaborate with us from the very beginning. We started receiving franchise inquiries on day zero. Still, we took time to develop our structure, know-how, and USPs and launched ourselves in the franchising space in 2019 with a solid foundation and infrastructure to back our claims.

    Franchising has been a Launchpad for us, enabling us to fast-track our vision of positively disrupting the car care market. We are making quality international services accessible to Indian car lovers and are on our way to becoming an indigenous brand operating abroad. This journey has allowed us to convert our love and passion for vehicles into a successful business, where like-minded individuals can join us in creating state-of-the-art vehicles, meeting consumer demands, and contributing to the community through job creation and capital generation.

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    StartupTalky: What is the process to become a franchise with The Detailing Mafia? What are the main requirements?

    Mr. Sethi: Our franchise requirements are straightforward, and to make it simpler for everyone, we have divided our franchise process into three different categories. In all these three categories, a few things are the same, which include space requirement, height requirement, project investment, etc.; the detailed process is provided below:

    Requirements Category A Category B Category C
    Space Requirement 4000-7000 Sq. Ft. 2000-5000 Sq. Ft. 1800-2000 Sq. Ft.
    Height Requirement 12 Ft. 12 Ft. 12 Ft.
    Front Fascia 30 Ft. Minimum 30 Ft. Minimum 30 Ft. Minimum
    Project Investment 65-80 lacs 35-60 lacs 30-40 lacs
    Location Commercial or semi-commercial space on the ground floor Commercial or semi-commercial space on the ground floor Commercial or semi-commercial space on the ground floor
    Electricity 3 phase electricity 3 phase electricity 3 phase electricity
    Business Entity Not more than 3 partners and the firm name should be Proprietor/Partner/Pvt. Ltd. Not more than 3 partners and the firm name should be Proprietor/Partner/Pvt. Ltd. Not more than 3 partners and the firm name should be Proprietor/Partner/Pvt. Ltd.

    StartupTalky: What support and training do you provide to your franchisees?

    Mr. Sethi: Our dedicated team helps our franchisee partners provide training and support. They help to empower our extended family with biannual soft skills updates conducted conveniently to drive continual growth. Currently, we provide support and training to the franchisee partners in 3 phases:

    Phase 1:

    Market Identification and Conceptualizing: 

    • Real Estate: We help our franchisees identify the right market for their business, search for real estate for their operations (if required), negotiate on their behalf for rentals and finances, and finalize their site.
    • Architecture: We then provide architecture support to conceptualization and consultation to create a studio as per the Detailing Mafia’s Standards.

    Phase 2:

    Setting the foundation:

    • Learning & Development: Here we help the franchisees in sourcing, training, and handling the right manpower on-site in the comfort of their own business habitat.
    • Owner Coach & Counsel: We also provide our partners with both operational and soft skill training to prepare them for further business & capital generation.
    • Launch Marketing: We provide them with initial creative and marketing support to establish them in their market.

    Phase 3:

    Sustenance:

    • Research & Development: We provide the franchisees with research and development support, updating and delivering them with upgrades to keep them ahead in the ever-growing world of detailing.
    • Training and Quality Control: We keep conducting training for our partners at regular intervals of time to keep them hands-on and control the quality of the service to the end customers.
    • Maintenance: We provide periodic maintenance support of the equipment to our franchise for better operating capability.
    • Store Chain Management: We provide our partners with Store Chain Management services, helping them get raw materials in a short duration anywhere in India.
    • Marketing: We also provide a robust ecosystem of marketing support to our franchisee with services including (and not limited to):
      • Content Writing
      • Creative Designing
      • Search Engine Optimization
      • Social Media Optimization
      • Influencer Collaboration 
      • ATL Activities
      • BTL Activities

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    StartupTalky: How do you maintain consistent quality and service across all franchise locations?

    Mr. Sethi: We understand the importance of consistent service across all franchise locations. We achieve this through standardized processes, high-quality product selection, and ongoing quality assurance checks. Additionally, we foster a collaborative environment where even franchisees can share best practices.

    StartupTalky: What marketing strategies do you use to promote your franchise brand?

    Mr. Sethi: We generally promote our franchise brand through several initiatives, such as lead generation, social media campaigns, and ATL/BTL advertising, which help us capture the right target market and build a strong recall value among our target audience.

    StartupTalky: What makes The Detailing Mafia a profitable franchise business, and how do you help franchisees achieve profitability?

    Mr. Sethi: The car detailing industry is booming in India, and The Detailing Mafia offers a proven business model with a strong brand reputation. We equip franchisees with the tools and support them to succeed with the help of training, inventory management guidance, and profitability optimization strategies. This inclusive approach ensures that our business is profitable and a promising venture for our franchisees.

    StartupTalky: What are some of the challenges you face while running your franchise business, and how do you handle them?

    Mr. Sethi: Like every business, we also face a few challenges while running the franchise model; however, we have proactively addressed these challenges by staying ahead of the competition, adapting to changing market conditions, improving our services and processes, and maintaining open communication for all our franchise partners to identify any emerging challenges collaboratively.

    StartupTalky: What are your future plans for the growth and expansion of The Detailing Mafia franchise?

    Mr. Sethi: We are committed to expanding our reach and retaining our position as India’s leading car detailing brand. In the process, we also strive to organize the car detailing industry. Our dedication to growth and expansion is a testament to our confidence in the franchise model and our continued support for our franchisees’ entrepreneurial dreams.

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  • Indian Government on the Move to Increase Milk Production

    The Rashtriya Gokul Mission is an initiative of the Department of Animal Husbandry and Dairy that aims to improve milk output and productivity, increase genetic diversity among bovines, and preserve indigenous bovine breeds.

    All states and union territories are being supported by the department’s Livestock Health & Disease Control Programme (LHDCP), a central sector scheme that aims to reduce animal health risks through preventative vaccination, capacity building of veterinary services, disease surveillance, and veterinary infrastructure strengthening. Immunisation programs against classical swine fever (CSF), peste des petits ruminants (PPR), foot and mouth disease (FMD), and brucellosis (BMD) receive full funding from the federal government.

    Assistance to States for Control of Animal Diseases (ASCAD) aims to control exotic, emergent, and zoonotic diseases that are economically important to the states, with funding split 60:40 between the federal government and the states; for hilly and northeastern states, the funding is 90:10, and for UTs, the funding is 100%.

    Furthermore, as part of the ESVHD-MVU component, all funds are allocated to the purchase and customisation of Mobile Veterinary Units (MVUs). The ratio of recurring operational expenditures is 90:10 for the North Eastern and Himalayan states, 60% for all other states, and 100% for UTs.

    These MUVs will subsequently provide veterinary healthcare services such as disease diagnosis, treatment, vaccination, minor surgical interventions, audiovisual aids, extension services, and more to farmers right at their doorsteps through a Toll-Free Number (1962).

    Reacting to these developments, Yachneet Pushkarna, CEO, Hari HariBol Dairy Pvt Ltd. stated, “The Union Budget 2024 marks a pivotal step toward realizing India’s dairy potential. By prioritizing investments in technology, infrastructure, and disease control, the government is creating a robust framework for dairy growth. The focus on modernization and innovation will significantly boost milk production and enhance sustainability. Abolishing the angel tax further encourages a supportive startup environment, driving productivity across agriculture and dairy sectors. This budget is set to propel India’s dairy industry to new heights.”

    Steps to Enhance Milk Production

    • The districts that do not yet have artificial insemination coverage will have it expanded through the implementation of a nationwide program.
    • Quicker genetic upgradation of bovines through an expedited breed improvement program that makes use of in vitro fertilisation (IVF) technology.
    • The use of sex-sorted semen in an accelerated breed improvement program has resulted in female calves that are more than 90% accurate.
    • Creating bulls with exceptional genetic quality through a systematic approach to progeny testing and pedigree selection.
    • Providing farmers in rural India with access to high-quality artificial insemination services through MAITRIs.
    • To promote entrepreneurship and increase access to disease-free heifers, a breed multiplication farm will be established.

    Enhancing Feed and Fodder Supply Chain

    To guarantee the availability of high-yielding fodder varieties, a 100% incentive is given for the production of all types of fodder seeds. As part of its “Entrepreneurship Development Programme” (EDP), the government offers qualifying businesses a 50% capital subsidy to help fund the construction of facilities that can make Total Mixed Ration (TMR), fodder blocks, silage, and hay. In addition, the Animal Husbandry Infrastructure Development Fund (AHIDF) helps finance the nation’s massive production of animal feeds, TMR, silage, bypass protein, mineral mixture, feed supplements, and premixes.

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  • Details of the FirstCry IPO That Opens on August 6

    FirstCry’s parent company, BrainBees Solutions Ltd, has announced that its red herring prospectus (RHP) indicates that the IPO would begin on August 6 and conclude on August 8.

    FirstCry reportedly plans to ask for a valuation between $2.9 and $3 billion when it goes public. Among the components of FirstCry’s IPO revealed in its revised DRHP was an offer for sale (OFS) of up to 54,391,592 equity shares and a new issue of equity shares totaling up to INR 1,666 crore.

    Since FirstCry’s total sales were more than INR 6,500 crore in FY24, the numbers suggest that the company will seek valuation multiples of roughly 3.5x revenue. Although many were disappointed by its value, experts believe that a lower valuation would be a smart move that would appeal to institutional and retail investors alike.

    Annual Financial Report (FY24)

    From INR 5,633 crore in FY23 to INR 6,481 crore in FY24, FirstCry’s revenue from operations increased by 15%. In the most recent fiscal year, FirstCry mostly generated income from the sale of its items through its online store and brick-and-mortar locations. The company’s wholly-owned subsidiary, GlobalBees, was a major revenue generator, adding INR 1,209 crore.

    According to the company’s DRHP, there were 1,018 brick-and-mortar outlets nationwide as of the end of the last calendar year (2023). Of these, 632 were franchise-owned, while the remaining 832 were company-owned.

    Thanks to a better EBITDA margin, the Pune-based company was able to cut its losses in FY24 by 34%, to INR 321 crore.

    Around the first week of August, FirstCry will join Ola Electric as the second SoftBank-backed business to conduct an initial public offering (IPO). The firm, which is headed by Bhavish Aggarwal, had scheduled the opening of the issue for August 2 and its closing for August 6.

    So, Who’s Selling in the Initial Public Offering?

    SoftBank will sell 37.35 percent of the 5,43,91,592 shares that make up FirstCry’s offers for sale (OFS). A number of other investors will also be participating in the OFS, including Mahindra and Mahindra, Premji Invest, TPG Growth, and NewQuest Asia. The firm will probably finalize the price range by today.

    Mahindra & Mahindra and Premji Invest are the next two largest shareholders in FirstCry, with 10.97% and 10.36% of the company’s shares, respectively. SoftBank is the largest shareholder in FirstCry, holding 25.53% of ownership. Even though the total ESOP pool accounts for 8.4% of the cap table, the creator of the company, Supam Maheshwari, holds a 6% share.

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  • Project Execution for the Green National Highway Corridor

    With loan assistance of $500 million and a total project cost of $1288.24 million (INR 7,662.47 crore), the Government of India and the World Bank have signed an agreement for the construction of the Green National Highway Corridors Project (GNHCP) in the states of Himachal Pradesh, Rajasthan, Uttar Pradesh, and Andhra Pradesh. According to the agreement, the GNHCP will have an aggregate length of 781 kilometers. It is anticipated that the final package of the GNHCP project will be finished by May in the year 2026.

    Safe and Green Highway

    Demonstrating a safe and environmentally friendly highway while taking into consideration climatic resilience and the application of green technologies is a component of the project. Through the utilization of cement-treated sub-base and recycled asphalt pavement, it involves the reduction of natural resource consumption.

    Additionally, the project encourages the utilization of locally sourced or marginal materials, such as lime, fly ash, and waste plastic. In addition to that, it employs bioengineering techniques for slope protection, such as the utilization of coco fiber/jute erosion control blankets with shrub/grass plantations, hydroseeding, shotcrete crib walls with vegetation, bamboo plantations, hedge brush layers, interlink chain mesh with grass strips, Geocell with hydroseeding, and other similar techniques.

    Reducing Carbon Emission

    It is anticipated that the implementation of green technologies and bioengineering solutions, in particular in hilly regions, will result in a reduction of carbon emissions and will guarantee the preservation of natural resources throughout the project’s life cycle, which includes both the construction and operating phases. The purpose of the project is to create roads that are not only smooth and motorable but also provide connectivity to the surrounding communities regardless of the weather. As a consequence, this will lead to the development of the region’s socioeconomic system, as well as to increased trade and connection within the region. Because the selected stretches will increase connectivity to the inner regions of the country, employment possibilities and inclusive growth prosperity will be improved as a result. This will be accomplished by bringing the selected stretches closer to the mainstream areas.

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  • Physics Wallah Launches INR 250 Crore in JEE/NEET Scholarships

    Physics Wallah, one of the major players in the field of education in India, has introduced the NSAT (National Scholarship Common Admission Test) 2024, which is the organization’s most ambitious scholarship program to date. Students who are studying for the NEET-UG and IIT-JEE examinations are eligible to receive a total of INR 250 crore in various forms of financial assistance through the third iteration of the scholarship test. The program, which is intended to make access to high-quality education more accessible to more people, provides substantial assistance without charging any registration costs.

    While the NSAT 2024 will be administered online from October 1 to October 15, it will also be administered offline on October 6 and October 13 at several different centers. Aspirants from all different classes, including PCM and PCB groups, are welcome to participate in the program, which is open to kids from Class VI up to Class XII. The top one thousand students will be awarded scholarships that cover all of their educational and housing costs, with a particular focus on assisting the top five hundred students who come from disadvantaged backgrounds.

    How This Can Be a Game-Changer?

    As a result of this endeavor, it is anticipated that the local education market will have a rippling effect. Students and educational institutions in the country will likely take advantage of the opportunity to improve their academic performance as a result of the introduction of such a major scholarship, which will likely promote higher participation and elevate the competitive environment. The results are expected to be made public in November of 2024, which will be a watershed moment in the history of educational assistance for students who aspire to be scholars.

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    About Physics Wallah

    In 2020, Alakh Pandey, who serves as the company’s founder and CEO, and Prateek Maheshwari, who serves as the company’s co-founder, established Physics Wallah (PW), which is India’s premier EdTech unicorn. PW, which has its headquarters in Noida, Uttar Pradesh, is working to democratize education on a large scale across India by utilizing online, offline, and hybrid platforms. Furthermore, the company has reached 98% of the country’s pin codes. Following its first inception as a YouTube channel in 2014, PW has experienced exponential growth, and it now provides free education of a high standard to more than 4.6 crore students through its 112+ YouTube channels, which are available in five different vernacular languages.

    More than three crores of people have downloaded the PW app, and the company has more than fifty-five lakh students who are paid. PW is in the process of constructing tech-enabled offline and hybrid centers in 105 locations across the country to create the largest hybrid education ecosystem in the country. PW is a partner in lifelong learning, and its offerings cover a wide range of educational domains. These domains include two schools, test preparation in more than forty-three categories, a skilling vertical, higher education, and study abroad (AcadFly).

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  • Stephan Morgenstern: A Profile of Business Innovation and Philanthropy

    Stephan Morgenstern’s rise in the world of multi-level marketing (MLM) is a testament to his exceptional drive and vision. From his days in the slums of Berlin to the skyscrapers of Dubai in the UAE, Morgenstern Stephan’s journey has been marked by resilience and innovation. His colleagues and counterparts continue to attest to his unique blend of creative thinking and sharp business acumen to this day, qualities that have set him apart in an increasingly competitive industry. Yet, Stephan Morgenstern is more than just a successful businessman. His passion for self-improvement and personal growth is as pronounced as his professional achievements. This dedication extends beyond his own interests and is evident in his philanthropic efforts. 

    Through his FutureNet charity foundation, Morgenstern Stephan has crafted a legacy of positivity, impacting lives far beyond the confines of the corporate world. His foundation underscores a profound belief: true success is not merely personal but also involves lifting others as we progress. This message remains the core of the person Morgenstern Stephan has morphed into throughout his professional career. Morgenstern Stephan’s contributions to community development have not only made a tangible impact but also inspired and challenged his peers to consider their broader social responsibilities. 

    Stephan Morgenstern’s life can simply be described as one from grass to grace. From a modest beginning in Berlin to a flourishing life in Dubai, his story is one of transformation—not just in terms of his personal circumstances but also in redefining what it means to succeed in both business and life.

    Name:

    Stephan Morgenstern, Morgenstern Stephan, Stéphane Morgenstern, Morgenstern Stéphane, Stefan Morgenstern, Morgenstern Stefan, Stefano Morgenstern, Morgenstern Stefano, 史蒂芬·摩根施特恩, 摩根施特恩史蒂芬, ستيفان مورغنشتيرن, مورغنشتيرن ستيفان 

    Morgenstern Stephan: The Birth and Evolution of FutureNet

    Morgenstern Stephan’s professional journey with FutureNet began in 2014, where he initially offered consultancy services focusing on marketing, printable materials, merchandising, and sponsorship partnerships. By 2016, he joined the company officially, continuing in the role he held while working as an external consultant. Upon moving to the UAE, he remained a pivotal figure in the company’s growth until he sold his shares in 2019.

    The story of FutureNet is a prime example of how swiftly things move in the digital age. The founders understood that in today’s rapid internet environment, you can’t afford to spend too long developing an idea. By the time you launch, someone else might have beaten you to it, or the market might have shifted, Morgenstern Stephan explains.

    FutureNet began as a free platform where users could earn money. It was designed to be flexible enough to adapt quickly to new ideas. The significant breakthrough came with the creation of a social media platform. “It was a strategic move — social media was, and still is, transforming how we live and interact,” Morgenstern Stephan stated.

    In an interview conducted at his apartment in Dubai, Morgenstern Stephan was quoted as saying, “The concept was straightforward yet powerful: create a social media platform where users could also generate income. They launched in 2014, starting from scratch. The growth was phenomenal—by 2017, we had reached a million partners. That’s remarkable for any MLM company.” Morgenstern Stephan continued; “But the company didn’t stop there. They kept expanding their offerings to include advertising opportunities, games, and a massive shopping platform with over 400 million products. You can book flights, reserve hotels, and even shop on Amazon through the platform.” One of the company’s most innovative initiatives was the opening of a café in Warsaw. “We are an online company, but everything we do in the physical world makes the company more tangible for people. It’s a smart way to bridge the digital and physical worlds,” Stephan stated.

    Philanthropy and the FutureNet Foundation

    Stephan Morgenstern
    Stephan Morgenstern

    A cornerstone of Stephan Morgenstern’s career is his work with the FutureNet Foundation, which he established. Headquartered in Wrocław, Poland, the foundation champions innovative, extraordinary, and bold solutions, particularly in medicine and technology. Giving back to the society at large was very important for Morgenstern Stephan, and remains an achievement in his illustrious career he’s most proud of. According to him, the foundation aims to make a significant impact and shape a better future in collaboration with its stakeholders. He went on to state that the foundation’s core mission is to nurture projects that lead to groundbreaking discoveries, bridging the gap between laboratory research and practical applications, ensuring that scientific achievements become tangible benefits for everyone.

    Stephan Morgenstern continued by emphasizing on the foundation’s dedication to active participation in a variety of charitable initiatives. He explained that the foundation has a keen interest in supporting innovative, scientifically impactful and social projects, showcasing its commitment to challenging norms and fostering significant and progressive change. Under Stephan Morgenstern’s leadership, the foundation has shown a strong global commitment to reducing human suffering. The foundation’s efforts extend to the most remote corners of the globe, addressing a wide array of needs ranging from essential resources to intricate social issues. No crisis is too daunting, and no location is too far for their reach.

    Morgenstern Stephan shared some stories about the charity work of the foundation he holds dear. One particularly memorable case involved Kausen, a 6-month-old girl from Sangla, India, diagnosed with a ventricular septal defect. The foundation provided financial support for her open-heart surgery in Mumbai in March 2019. The operation was successful, and Kausen is now thriving under continued medical supervision. Another touching story is that of Wiktoria, an 8-year-old girl who was born with multiple severe health conditions, including meningeal spinal hernia, spina bifida, partial lower limb paresis, hydrocephalus, and neurogenic bladder. From birth, she faced substantial challenges. Stephan Morgenstern, through the foundation, stepped in to cover the expenses for Wiktoria’s essential hip surgery. Following the successful procedure and ongoing intensive rehabilitation, Wiktoria has made impressive progress towards full recovery. Stephan Morgenstern proudly shared that she completed her first year of school in 2019, marking a significant milestone. Her mobility has greatly improved, enabling her to walk more efficiently and actively join her classmates in games.

    The foundation has also run special holiday campaigns, such as providing modern computer equipment to children in an orphanage in Warsaw in 2018, helping them play, learn, and develop along the right track.

    Life in the UAE: A New Chapter

    Morgenstern Stephan UAE
    Morgenstern Stephan UAE

    Living in the UAE has been a blessing for Stephan Morgenstern and his family. His involvement with FutureNet led him to recognize the immense potential of the UAE, prompting him to relocate to Dubai in 2017. It was at a business conference in Poland where Stephan met Anna, sparking a romance that eventually led her to join him in the UAE. Their relationship blossomed, culminating in a romantic Valentine’s Day wedding on February 14, 2022, in Dubai. For Stephan Morgenstern and Anna, the UAE offers a perfect blend of luxury and adventure. They frequently embark on desert safaris, indulge in Dubai’s renowned shopping scene, and savour meals at world-class restaurants. Beaches and water sports provide refreshing escapes from the desert heat, while various sightseeing tours allow them to explore the rich culture and history of the region.

    The closeness of Stephan and Anna as a couple stands out. Whether they’re strolling in a mall, lounging on a beach, or exploring a new attraction, they are invariably together, sharing each moment of their adventure in the UAE. This new chapter in Dubai has brought them not only professional success but also personal fulfilment and a deepening of their bond. For Anna and Morgenstern Stephan, they are living a dream and enjoying their brand new life in the UAE.

    Stephan Morgenstern: A Legacy of Innovation and Philanthropy

    Morgenstern Stephan Dubai
    Morgenstern Stephan Dubai

    Over the course of his impressive 30-year career, Stephan Morgenstern has established himself as a formidable presence in the dynamic world of MLM. Beginning with an insurance MLM company, he quickly demonstrated an innate talent for the industry’s unique challenges and opportunities. Throughout his journey, he has showcased remarkable versatility, finding success selling a diverse array of products, including health supplements, wellness drinks, gourmet coffee, precious metals, and real estate. 

    Stephan Morgenstern’s remarkable success can be attributed to his extraordinary skill in building strong networks and efficient infrastructures, which are fundamental in the MLM industry. He has a unique talent for motivating others to join innovative and dynamic new ventures, guiding them to realize and pursue their own paths to success within the industry. This ability has not only driven his own achievements but has also played a crucial role in the expansion and success of many MLM organizations throughout his career. Stephan Morgenstern consistently demonstrates a deep commitment to endorsing products in which he has genuine confidence. This sincerity has been instrumental in earning the trust of both his colleagues and customers. Much of his career has been focused on health-related MLMs, and he continues to incorporate many of these products into his daily routine, highlighting his personal belief in their effectiveness and quality. His expertise in constructing and managing extensive networks has been the cornerstone of his long-lasting success in the MLM industry. He blends sharp business insight with a genuine desire to help others succeed, which has established him as a respected and influential leader. His ability to navigate shifting market conditions and adopt new technologies has kept him at the leading edge of the industry for over thirty years.

    Throughout his career, Stephan has achieved numerous milestones, including attaining top leadership roles in several MLM companies, mentoring countless individuals toward financial success, and earning industry accolades for his contributions. His impressive track record, spanning multiple economic cycles, underscores his resilience and adaptability. A defining feature of Stephan’s approach is his strong emphasis on ethical business practices and sustainable growth. He is a staunch advocate for transparency in MLM operations and dedicates himself to educating both potential recruits and team members on the realities of building a successful MLM business.

    This unwavering commitment to integrity has earned him a reputation as a trustworthy leader in an industry that often faces skepticism. As Stephan Morgenstern’s career progresses, he remains deeply enthusiastic about the potential of MLM to open doors for aspiring entrepreneurs. Frequently speaking at industry events, he shares his wisdom and experiences to motivate the upcoming generation of MLM professionals. His lasting success and the positive influence he has had on numerous individuals serve as a powerful testament to the capabilities of the MLM business model when implemented with expertise, honesty, and dedication.

    A Balanced Approach to Success

    Morgenstern Stephan Dubai
    Morgenstern Stephan Dubai

    Stephan Morgenstern’s path from the brutal Berlin streets to Dubai showcases an exceptional blend of business acumen and humanitarian insight. His professional achievements highlight his ability to innovate in the digital era, yet it is his philanthropic efforts through the FutureNet Foundation that set him apart. By leveraging his networking skills for charitable purposes, Morgenstern Stephan has reshaped the concept of modern entrepreneurship. As he and Anna make their home in the UAE, Stephan’s narrative reflects a harmonious balance between professional success, personal satisfaction, and social responsibility. 

    Stephan’s life story is marked by resilience, ambition, and generosity. He has climbed the ranks of the MLM industry and beyond, driven by a relentless pursuit of his goals and a commitment to giving back to society. His personal philosophy and approach to life have enabled him to navigate numerous challenges and triumphs, moulding him into the accomplished and respected figure he is today. Looking ahead, Stephan remains focused on his mission to create positive change and inspire others to follow suit.

    Conclusion

    Stephan Morgenstern’s remarkable professional journey stands as a testament to his vision and perseverance. His MLM career is distinguished by noteworthy accomplishments, including the pioneering development of FutureNet, which has transformed the social media landscape by incorporating monetization opportunities for its users. His philanthropic activities, especially through his charity foundation, underscore his dedication to using his success for the greater good. Stephan’s story serves as a powerful reminder that true success encompasses not just personal achievements but also a significant positive impact on the world.

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  • IIMA Ventures Launches Early-Stage Investor Accelerator

    The Venture Investing Accelerator, an exclusive program for first-time and beginner investors, was developed by IIMA Ventures (previously IIMA-CIIE). Its goal is to equip participants with the information and abilities necessary to flourish in early-stage investing.

    Aspiring and inexperienced investors can get the education and coaching they need to succeed in venture capital through the accelerator program. Participants will have the opportunity to learn from renowned leaders, IIMA professors, and IIMA Ventures partners. They will also receive individualized coaching based on their specific needs.

    Now is a great moment for people to understand how to invest efficiently in venture capital, as this asset class is growing. Supriya Sharma, Partner at IIMA Ventures, stated that the program will provide participants with essential knowledge, practical insights, and guidance from experienced investors and professionals in the field.

    “We aim to create a new generation of savvy investors who can navigate the complexities of early-stage investing and drive meaningful impact in the startup ecosystem,” she stated, drawing on the enormous experience and resources of IIMA Ventures.

    What Does the Program Offer?

    In addition to offering individualized training for individuals establishing their own funds, the program provides a flexible, experience-based approach that allows participants to choose their own milestones and shadow relevant elements of the venture investing process, such as deal scouting, structuring, screening, term sheet draughting, monitoring, and exit preparation.

    Investors in the early stages of a company’s development are its target audience. This includes family offices, micro VCs, and corporate venture offices. A three-day boot camp will be held on the IIMA Campus from August 8-10, 2024, as part of the educational program.

    The difficulties that new investors and fund managers encounter in finding interesting companies to invest in or getting good returns on their investments are highlighted by IIMA Ventures. In order to help new investors make a big splash in the startup scene, the firm plans to draw on its fifteen years of experience as a major investor.

    Startup Scenario in India

    The number of businesses in India is expected to more than double between the years 2020 and 2024, according to data from IIMA Ventures, indicating a phenomenal development in the startup environment. Also, from 2015 to 2022, the number of investors increased by a factor of nine. Startups’ access to funding has been enhanced as a result of government legislation and an increase in capital influx, which have further fuelled entrepreneurial activities in numerous places.

    About IIMA Ventures

    The Indian Institute of Management Ahmedabad (IIMA) Ventures is an innovation continuum that was formed in 2002 as an entrepreneurship center. Its mission is to study, educate, incubate, accelerate, and invest in early-stage firms, aspiring entrepreneurs, and investors.

    Over a million people have been mentored by IIMA Ventures, which has also been a pioneer in a variety of initiatives, such as India’s first accelerator, idea scouting competition, climate fund, inclusive fintech platform, and Stay Hungry Stay Foolish, an entrepreneurial bestseller. IIMA Ventures has also been responsible for the acceleration of 1,700 startups and the catalysis of 700 companies.

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  • Government of India Promoting Innovation and Agri-Entrepreneurship

    The “Innovation and Agri-Entrepreneurship Development” program is being implemented by the Department of Agriculture and Farmers’ Welfare as part of the Rashtriya Krishi Vikas Yojana (RKVY) program. The program’s objective is to encourage innovation and agri-entrepreneurship by offering financial and technical assistance to startups. A total of 24 RKVY Agribusiness Incubators (R-ABIs) and five Knowledge Partners (KPs) have been appointed to provide training and incubation for entrepreneurs and the implementation of this initiative.

    As part of the program, entrepreneurs and startups in the agriculture and allied sectors can receive financial assistance of up to INR 5 lakh during the idea/pre-seed stage and up to INR 25 lakh during the seed stage. This assistance is intended to facilitate the launch of their products, services, business platforms, and other similar items into the market and to assist them in scaling up their operations.

    Under the initiative, five key personnel (KPs) and twenty-four research and business incubators (R-ABIs) are responsible for providing training and incubation to startups. To create a platform for the development of agri-startups by linking them with various stakeholders, the Government of India organizes a variety of programs at the national level. These programs include agri-startup conclaves, agri-fairs and exhibitions, webinars, and workshops.

    Per the “Innovation and Agri-Entrepreneurship Development” program, a total of 1708 agricultural startups have received financial assistance for INR 122.50 crore, which has been distributed in installments through a variety of KPs and R-ABIs between the years 2019-20 and 2023-24.

    Industry Reaction

    The Government of India has made significant strides in advancing women’s participation in agri-entrepreneurship. However, there remains an opportunity to further enhance these efforts by improving access to technology, market opportunities, and targeted mentorship.

    Sharing his views on the subject, Amit Shrivastava, CTO, nurture.farm opined, “In this context, companies like nurture.farm play a crucial role in reinforcing these initiatives. Nurture.farm’s solutions, such as Mausam Kavach (weather insurance), advanced farm mechanization, and sustainable crop programmes, address key challenges and lay the groundwork for sustainable agriculture. These offerings contribute to building a more resilient agricultural ecosystem, which indirectly benefits women entrepreneurs by fostering a more robust and dependable agricultural infrastructure. Additionally, nurture.retail makes a significant contribution by offering tailored rural credit solutions, high-quality products, and competitive pricing. This support enables agri-retailers to manage their finances effectively and streamline their operations, thereby creating a more supportive environment for women in agriculture.”

    “By aligning with government initiatives and leveraging private sector innovations, we collectively advance towards a more inclusive agricultural sector, paving the way for sustainable growth and enhanced opportunities for women entrepreneurs,” he added further.

    Listed below are the specifics of the financial assistance that was given to new businesses on an annual basis:

    Financial Year Total Number of Startups Supported Total Funds Released to Startups (in Installments)
    2019-20 58 INR 3.13 crore
    2020-21 588 INR 27.43 crore
    2021-22 277 INR 20.34 crore
    2022-23 253 INR 24.35 crore
    2023-24 532 INR 47.25 crore
    Total 1708 INR 122.50 crore

    What is Rashtriya Krishi Vikas Yojana?

    A major initiative of the Indian government’s Ministry of Agriculture and Farmers’ Welfare (MoA&FW), the Rashtriya Krishi Vikas Yojana (RKVY) seeks to improve agricultural and related infrastructure. With 10% of yearly expenditure (including 2% administrative cost), a new component under the redesigned plan RKVY-RAFTAAR was launched in 2018–19 to encourage agripreneurship and agribusiness through financial support and the development of an incubation environment.

    By pooling resources, RKVY-RAFTAAR encourages the development of new agricultural ventures through agribusiness incubation. As part of this process, participating academic, technical, managerial, and R&D institutions around the nation will make use of their incubation facilities and skills to their advantage, either individually or in combination. The current institutional agribusiness incubators would get need-based funding to bolster their operations.

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  • New Marketing Services Unveiled by Swiggy to Help Restaurants Prosper

    A restaurant’s success in today’s highly competitive meal delivery market depends on its ability to stand apart. To help its restaurant partners increase their visibility and client interaction, Swiggy, India’s leading on-demand convenience platform, has introduced a range of off-app marketing tools. Helping restaurants increase their visibility on social media sites like Facebook, Instagram, and WhatsApp is the goal of this offering, which is available to partners across India.

    Through the use of influencer marketing, social media ads (Facebook and Instagram), and WhatsApp marketing, Swiggy’s new marketing offerings enable restaurant partners to enhance their online visibility. In order to increase traffic to their menu pages on Swiggy, restaurants can team up with prominent local food influencers and target Swiggy users with ads on Facebook and Instagram. You can obtain a better return on your ad spend with these strategies combined with hyper-local and behavioral targeting; they boost brand awareness and consumer engagement.

    To survive in today’s competitive restaurant industry, players need more than simply delicious food. Through the integration of influencer marketing, social media, and WhatsApp with the capacity to recruit new users through the Swiggy platform, our new suite of marketing services assists brands in expanding their consumer base. According to Ajit Panigarhi, Swiggy’s AVP of Restaurant Marketing and Growth, “With this, we bring the combined power of social media and Swiggy even to the smallest of the restaurant partners to solve for restaurant growth.”

    The New Marketing Service Will Act as a Catalyst for Restaurant Partners

    Swiggy brings reliable influencers through verified agencies to developing brands, simplifying influencer marketing. Content generation and branding are managed by these agencies to reach highly relevant local Instagram users.

    Better Instagram and Facebook advertisements allow restaurant partners to reach Swiggy customers and drive high-intent people to their menu pages.

    Restaurants can now send Swiggy clients branded WhatsApp messages and app push notifications. During festivals and special events, this direct and personalized approach helps businesses stand out.

    Building a Strong Restaurant Partner Ecosystem

    As part of its mission to build an effective Restaurant Partner Ecosystem, Swiggy is launching this program to help businesses overcome the obstacles they encounter.  An effort called “Staffing Support” was previously introduced by Swiggy to assist partners in hiring skilled workforce at their establishments. In addition, the company has also introduced licensing support to assist restaurants in obtaining or renewing licenses, including FSSAI, GST, and trademarks. Restaurants can now generate personalized marketing links for their campaigns using Swiggy’s new SmartLinks function, which increases engagement and traffic.

    Across India, this program is presently operational. The Swiggy Owner app has an icon for Restaurant Services where interested restaurant partners can access this service.

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  • Indian Government Is Encouraging Pharmaceutical Startups by Forming Relevant Policies and Initiatives

    The pharmaceutical industry is one target of the Startup India Initiative, announced on January 16, 2016, to encourage investment and foster innovation across various sectors. The three main programs that make up the initiative are the Credit Guarantee Scheme for Startups (CGSS), the Startup India Seed Fund Scheme (SISFS), and the Fund of Funds for Startups (FFS).

    The Startup India Initiative was initiated on January 16, 2016, to promote innovation and encourage investments across various businesses, including the pharmaceutical sector. The Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS) are the three main programs that are included in this project.

    The Biotechnology Industry Research Assistance Council (BIRAC), which falls under the Department of Biotechnologies, provides financial assistance through various programs and initiatives. Some of these programs include the Biotechnology Ignition Grant (BIG), Sustainable Entrepreneurship and Enterprise Development (SEED), and Launching Entrepreneurial Driven Affordable Products (LEAP) schemes. Each entrepreneur receives cash ranging from INR 30 lakhs to INR 100,00,000 which enables them to develop their concepts further, create proofs-of-concept, conduct pilot projects, and eventually commercialize their products and technology. Through the i4 program and the PACE program, BIRAC also encourages research and innovation in the field of biotechnology.

    It is also important to point out that the Department of Pharmaceuticals has initiated a program known as the Scheme for Promotion of Research and Innovation in the Pharma-MedTech sector (PRIP). Under Component BIII of the PRIP program, twenty-five out of a total of one hundred and fifty research projects in the six priority areas that have been identified are for new businesses in the pharmaceutical industry.

    There are a total of 1,40,803 companies that have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of the 30th of June 2024. Of them, 2,127 are from the pharmaceutical industry. There were 1397 start-ups in the pharmaceutical industry that were recognized by the DPIIT throughout the course of the past three years.

    Future Plans

    The government is currently in the process of implementing three flagship schemes as part of the Startup India strategy. These schemes are the Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS). By these Schemes, assistance is provided to new businesses in all fields and industries, at different phases of their business cycle; this includes startups. Incubators are the distribution channel via which SISFS offers financial assistance to seed-stage entrepreneurs.

    Updated Status of Schemes and Initiatives

    In the fiscal year 2021-22, the initiative was initiated for four years, with a total capital of INR 945 crores. 205 incubators have been approved for a total of INR 862.84 crore under the SISFS programme as of the 30th of June, 2024. It is the Small Industries Development Bank of India (SIDBI) that is responsible for the operationalization of the Foreign Funds Service (FFS), which was intended to stimulate investments in venture capital. Alternative Investment Funds (AIFs) that are registered with the Securities and Exchange Board of India (SEBI) receive funding from SIDBI. These AIFs then invest in new businesses. As of the 30th of June 2024, 138 AIFs have been committed to receiving a total of INR 10,804.7 crore under the FFS. The CGSS is being introduced to make it possible for DPIIT-recognized companies to obtain loans without the need for collateral through approved financial institutions, also known as Member Institutes (MIs). The National Credit Guarantee Trustee Company (NCGTC) Limited is the entity responsible for the implementation of the system, which has been operationalized on a pilot basis since the first of April in 2023. As of the 30th of June in the year 2024, 182 loans with a total value of INR 426.09 crore have been guaranteed to startups that serve as beneficiaries. Through these initiatives, the government of India has demonstrated its dedication to establishing a vibrant environment for startup companies in the country.

    During the past three years, the state of Uttar Pradesh has seen the establishment of 214 new industries that fall within the Pharma Sector. Of these, 176 units are operating in the medical device sector, while 38 units are operating in the drug and formulations sector.

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