The banking sector is in the midst of a digital revolution. Traditional brick-and-mortar institutions are being challenged by nimble fintech startups and the ever-growing demand for convenient, digital-first banking solutions. To stay ahead, established banks need to navigate complex change management processes. This is where innovative approaches come into play, ensuring successful digital transformations and sustained competitive advantage.
Raghu Koilakonda, a prominent figure in digital transformation and change management, is making significant strides in revolutionizing the banking sector through innovative solutions. His expertise in establishing Change Management Centers of Excellence (COE) for digital transformations is proving particularly valuable in the rapidly evolving financial services landscape.
Koilakonda’s approach to banking transformation is rooted in his understanding that successful digital innovation requires more than just technological implementation. His work emphasizes the critical role of organizational change management in ensuring the smooth adoption of new technologies and processes within banking institutions.
His strategy is the establishment of Change Management Centers of Excellence (COE) specifically tailored for digital transformations in the banking sector. These COEs serve as central hubs for managing the complex changes associated with digital initiatives, providing a structured framework for banks to navigate the challenges of technological adoption and organizational adaptation.
The impact of Koilakonda’s work extends beyond theoretical frameworks. His recent certification in Generative AI demonstrates his commitment to staying at the forefront of technological advancements. This knowledge positions him uniquely to guide banks in leveraging cutting-edge technologies like AI and machine learning for improved customer experiences, risk management, and operational efficiency.
His innovative solutions address several key areas in banking transformation. These include enhancing customer experience through AI-driven personalization and chatbots, utilizing big data analytics for more accurate risk assessment and fraud detection, streamlining back-office processes through automation and digital workflows, implementing advanced analytics for better strategic planning and product development, and leveraging technology to ensure adherence to evolving financial regulations.
The banking industry’s ongoing digital transformation aligns closely with Koilakonda’s expertise in emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics. His insights into how these technologies can reshape business models and customer experiences in the consumer goods sector are equally applicable to banking, demonstrating the cross-industry relevance of his approach.
As banks continue to face pressure to innovate and adapt to changing customer expectations, Raghu Koilakonda’s change management solutions offer a roadmap for successful digital transformation. His approach to change management is multifaceted, recognizing the importance of understanding the human element, building a strong vision, and leveraging technology to support change initiatives.
Koilakonda’s work in banking transformation represents a significant contribution to the industry’s efforts to remain competitive and relevant in an increasingly digital world. As financial institutions continue to evolve, his innovative change management solutions are likely to play a crucial role in shaping the future of banking.
India, July 09, 2024: Felicity Games, a leading casual game developer and publisher, has secured a $700K pre-seed funding from DeVC, Visceral Capital, and marquee angel investors including Kunal Shah of CRED, former Nazara CEO, Manish Agarwal, Sriharsha Majety, Nandan Reddy of Swiggy and Sameer Pittalwala, Head of Gaming, Google Cloud (APAC) among others.
Felicity was founded in 2023 by ex-Swiggy executive Anurag Choudhary with an aim to become India’s leading mobile game publisher. In under a year, Felicity has launched over 10 game titles, which are played by more than a million monthly users across 14 geographies. The company will use the funds towards testing 10 more such games by March 2025. The company aims to scale revenue by 10x by the end of this year.
The company’s success lies in rapidly prototyping and testing casual games in partnership with Indian game developers for commercial viability using a proprietary framework called ‘Pokhran’, and accordingly scaling only the successful ones.
Anurag Choudhary, Founder & CEO of Felicity Games, “Given our cost and skill advantages, Felicity Games is well placed to build a multi-million dollar casual gaming business from India for the world.”
“Felicity has a unique vision to mobilise the growing ecosystem of Indie developers with the capability of producing high-quality game prototypes at a fraction of the cost. Felicity combines an objective approach to commercial testing with iterations on non-conventional channels to drive risk-adjusted growth for new IPs, unlocking developer friendly publishing for the indie ecosystem” says founding member Divyanshi Chowdhary from DeVC, a leading pre-seed fund in the Indian tech ecosystem.
Felicity recently launched two titles ‘Seek & Find’, and ‘Nova Solitaire’ which are already unit economics positive in the US and other western markets with 100,000+ downloads within a period of 3 months.
Beyond game development and publishing, Felicity Games distinguishes itself through strategic partnerships with studios and brands to co-create compelling intellectual properties (IPs). This collaborative approach not only enriches the gaming ecosystem but also expands the company’s reach and influence within the industry.
About Felicity Games
Founded in 2023 by ex-Swiggy executive Anurag Choudhary, Felicity Games has swiftly emerged as a trailblazer in the realm of casual gaming. Headquartered in Bengaluru, India, the company operates on a global scale, embodying the ethos of ‘building from India for the world.’
Felicity Games is synonymous with innovation, consistently pushing the boundaries of creativity and technology to deliver captivating gaming experiences. Felicity rapidly prototypes and tests casual games for commercial viability using their proprietary framework “Pokhran”, scaling only the successful ones. In under a year, Felicity has launched over 10 game titles, which are played by more than a million monthly users across 14 geographies. Its two most prominent titles, Seek & Find and Nova Solitaire, available on Play Store and App Store are scaling well globally with 100,000+ downloads within a period of 3 months.
Beyond game development and publishing, Felicity Games distinguishes itself through strategic partnerships with studios and brands to co-create compelling intellectual properties (IPs). This collaborative approach not only enriches the gaming ecosystem but also expands the company’s reach and influence within the industry.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
The recent ban in India of 59 Chinese apps has paved the way for many Indian startups and entrepreneurs to create “Made in India” products. The majority of these startups are developing products that can be accessed in local languages, with a focus on Tier-II, and III cities, and other rural pockets of India.
Koo, which debuted in early 2020, and won the government’s Atmanirbhar App Innovation Challenge, caught the public’s attention. Aprameya Radhakrishna and Mayank Bidawatka, two entrepreneurs, co-founded this microblogging platform. Its user base recently increased as a result of a spat between the government and Twitter. Often referred to as the “Indian Twitter”, Koo currently serves a user base of 15 million users, including a clutch of key Indian personalities.
StartupTalky brings all about Koo startup, its Startup Story, Koo app Founders, and Team, Koo app revenue, Name, Tagline and Logo, Funding and Investors, Business Model and Revenue Model, Challenges, Competitors, Awards and Achievements, and Koo’s Shutdown in the article ahead!
Koo – Company Highlights
Company Name
Koo
Parent Company
Bombinate Technologies Pvt Ltd.
Headquarters
Bangalore, Karnataka, India
Industry
Microblogging, Social networking service, and News
Koo is an Indian microblogging and social networking service based in Bangalore, Karnataka, India.
Koo is an Indian-language microblogging site for connecting, commenting, and engaging. The company’s platform is available in multiple Indian languages and includes features such as English to regional language keyboards, local language news feeds, and hyper-local hashtags, allowing users to express themselves on a variety of topics using text, audio, and video.
Koo has stated on its website, “Just 10% of India speaks English. Almost 1 billion people in India don’t know English. Instead, they speak one of India’s 100s of languages. They are now getting access to smartphones and would love an internet in their language.”
“ Koo is an attempt to make the voice of these Indians heard. They can now participate on the internet in their mother tongue by listening to the views of some of the sharpest Indian minds and also speak their mind by sharing their thoughts.”
The Koo social media is available for free on both the Google Play and Apple App Stores. If you don’t have access to any of these sites, go to Kooapp.com, log in with your credentials, and use the app directly from your browser.
Koo – Vision and Mission
Koo’s vision statement says, “Koo has built a platform to enable a billion Indians to voice their thoughts and opinions freely in their mother tongue.”
The mission of Koo, as mentioned by Co-founder Bidawatka, is to connect India and help a billion Indians to voice themselves freely in their own mother tongue. Koo is constantly trying to simplify expressions for everybody who wants to connect with their audiences. Bidawatka claims that the Koo social media network is the world’s first platform in the world that claims to do that.
Koo – Name, Logo and Tagline
A yellow bird, or “Sone Ki Chidiya” in Hindi, appears in Koo’s logo, which is also what India was known for, many years ago. Koo unveiled its latest logo on May 14, 2021. The new logo is based on the yellow bird, but it has a more modern appearance. Ku Koo Ku was the app’s previous name.
“It’s fresh new look and an indication of of our little yellow bird growing up from being a toddler to an adolescent. This little bird is ready to an adolescent… This little bird is ready to fly. We are grateful to Gurudev Sri Sri Ravi Shankar for inaugurating Koo’s new logo on the auspicious day of his 65th birthday,” Radhakrishnan said.
Aprameya Radhakrishna, a co-founder of Koo, said the new logo represents the company’s growth since its inception.
Koo’s Company Logo
“Our new bird is a sign of that positivity that the platform brings to their lives. Millions of users use Koo to connect and find comfort in each other’s company. The little yellow bird is now ready to be the messenger to a billion Indians,” said Mayank.
According to Radhakrishna, when they first considered giving everyone in India a voice, regardless of language, the first image that came to mind was of a bird, an emotional creature that embodies the concept of transmitting a message. They wanted it to be a happy bird, so they gave it a yellow color, and they wanted it to spread positive messages across India. The bird makes a sweet sound that is referred to as Koo.
Koo tagline states “Let’s Koo together!”
Koo – Founders and Team
Aprameya Radhakrishna and Mayank Bidawatka co-founded the microblogging platform Koo. The duo are also the founders of Vokal, an audio-video knowledge-sharing platform similar to Quora.
Aprameya Radhakrishna
Aprameya Radhakrishna was the founder and Director of TaxiForSure, an online taxi-booking service that was later acquired by Ola Cabs. Before that, he had experience working as a Software Engineer at Infosys and as Head of Business Development, at PDS India at Jones Lang LaSalle Meghraj. He then founded Koo, where he still works as a CEO along with working as an Angel Investor. Radhakrishna has a BE, Electronics, and Communication from NIT Karnataka and then opted for an MBA in General Management from IIM Ahmedabad.
Founders of Koo – Aprameya Radhakrishna and Mayank Bidawatka
Mayank Bidawatka
Mayank Bidawatka is another co-founder of Koo. Bidawatka has an MBA from the Asian School of Management. After a brief role of a year in Client Servicing at Lowe Lintas, Bidawatka joined ICICI Bank, where he served as the Product Manager. Mayank was in the Core Team/Foundation Team of Redbus after which he co-founded The Media Ant. He left that role and joined TaxiforSure.com. He then co-founded Goodbox. Mayank left Goodbox to serve as an investor and has eventually invested in a series of companies. Mayank finally decided to co-found Vokal India with Aprameya.
The Koo team is currently operating with nearly 270 employees, the team of which was 200 strong when reported last in September 2021. The India-based social media startup aims to raise its employee strength to 500 by the end of the next year.
Koo – Startup Story | History of Koo
The reality about India is that it is the only country with such a wide range of languages. After looking at what’s going on on Twitter, the Koo founders discovered that there’s very little content in our native Indian languages. The founders of Koo also looked at what was going on in Indian languages on the established global microblogs. All of these led to the formation of the Indian microblogging venture, ‘Koo’.
Koo – Atmanirbhar App Innovation
Although the app was first released in early 2020, it rose to prominence after winning the government’s Atmanirbhar App Innovation Challenge. The app, along with other Indian apps such as Zoho and Chingari, the local version of TikTok, won the challenge, which was launched by the Centre shortly after it banned a slew of Chinese apps citing national security concerns. Prime Minister Narendra Modi listed the app in his Mann Ki Baat address after the results of the Atmanirbhar App Innovation Challenge.
Politicians, ministers, and celebrities who have signed up for the app include Commerce Minister Piyush Goyal, Law, and IT Minister Ravi Shankar Prasad, Members of Parliament Tejasvi Surya and Shobha Karandlaje, Karnataka Chief Minister BS Yediyurappa, Isha Foundation’s Jaggi Vasudev, and former cricketers Javagal Srinath and Anil Kumble. In addition, the Union Information Technology Ministry, India Post, and the Niti Aayog are among the government agencies that have signed up for the app.
Many ministers and politicians are supporting the made-in-India microblogging site, particularly at a time when the world’s largest platform in this segment has not responded favorably to the Indian government’s demands, demonstrating the government’s willingness to push an alternative to the social networking platform.
When Koo had only been around for a year, after being launched in May 2020, it boasted a user count of 30+ million. The average monthly active users of Koo was ranging 9 million, as of June 6, 2022. Koo is the second most widely used microblog in the world, as reported by various news resources in 2022, and offers 20 global languages on the platform.
Koo announced that it has crossed 1 crore downloads on August 25, 2021. The company boasts of reaching the 1 crore mark within just 16 months of its launch. The Koo app downloads now stand at over Rs 3 cr (30 mn).
Here are some more growth highlights of the brand:
Koo boasts of having more than 1,000 celebrities on its platform.
It has announced having 1,00,000+ creators in total.
After its launch in March 2020, Koo has already crossed the 10 million downloads mark in August 2021.
Koo currently boasted of having more than 3 crores or 30 million users, when last reported in December 2021.
The Koo founder and CEO, Aprameya Radhakrishna is presently focusing on growth and is striving to capture the market, and believes that monetization will eventually follow.
Financials
Koo’s cash from operations significantly decreased from Rs -32.4 crore in FY21 to Rs -244 crore in FY22, marking a dramatic financial change. This was accompanied by a higher loss that increased from Rs -35.2 crore in FY21 to Rs -197 crore in FY22.
Koo Financials FY20 – FY22
Expense Breakdown
In FY22, Koo’s expenses soared in key areas: advertising hit Rs 124 crore, employee benefits reached Rs 36.2 crore, and technology costs hit Rs 23.5 crore. Legal and professional fees rose to Rs 11.4 crore, communication expenses to Rs 2.27 crore, and other expenses to Rs 4.63 crore. These figures reflect significant spending and growth.
Expenses FY21 – FY22
FY21
FY22
Advertising and promotional expenses
Rs 6.61 crore
Rs 124 crore
Employee Benefit Expenses
Rs 9.3 crore
Rs 36.2 crore
Technology Costs
Rs 4.1 crore
Rs 23.5 crore
Legal and professional Fees
Rs 2.33 crore
Rs 11.4 crore
Communication Expenses
Rs 0.72 crore
Rs 2.27 crore
Other Expenses
Rs 1.74 crore
Rs 4.63 crore
EBITDA
Koo FY21 – FY2
FY21
FY22
EBITDA Margin
-3002.56
-4.002.54
Expense/Rs of Operation Revenue
Rs 310
Rs 1442.8
ROCE
-76.19
-140.75
Koo experienced financial difficulties in FY22. Although in FY21 it was -3002.56% and in FY22 it was -4.002.54%, the EBITDA margin remained negative. From Rs 310 in FY22 to Rs 1,442.86 in FY22, expenses as a percentage of revenue climbed dramatically, and ROCE also decreased from -76.19% in FY21 to -140.75% in FY22. These stats demonstrate Koo’s continued financial challenges.
Koo – Funding and Investors
Koo has successfully raised more than $50.8 million in funding over the seven funding rounds that the company has witnessed. The company’s last funding was $6 million from Accel and Tiger Global Management on November 22, 2022.
Date
Round
Amount
Lead Investors
Nov 24, 2022
Venture Round
$6 million
Accel, Tiger Global Management
February 23, 2022
–
$6.75 million
–
January 2022
–
$3.7 million
Ashneer Grover, FBC Venture Partners, Yulubike’s Hemant Gupta, Adventz Finance Private Limited and more
May 26, 2021
Series B
$30 million
Tiger Global, IIFL Venture Capital Fund, Mirae Asset Management and others
Apr 2, 2021
Venture Round
–
Balaji Srinivasan, Naval Ravikant
Feb 4, 2021
Series A
$4.1 million
3one4 Capital
Mar 1, 2020
Seed Round
–
–
Koo – Business and Revenue Model
The Koo business model is a platform-based model. The Koo revenue model is being explored at the moment. According to the founder, the app is looking for monetization at scale, and currently, it is exploring the advertising model. However, they want to follow a more targeted approach, focusing more on the demography and interests of their users.
Some of the revenue models Koo follows are:
Promoted Content Reach
Koo makes revenue when a user shares content on the Koo App, it’s shown to their followers and can be discovered by others through tags and searches.
Promoted user accounts
Brands get income on the platform by increasing the number of followers they have in addition to promoting content.
Premium Subscription
Koo App charges content creators for its Koo Premium service, which allows them to provide users with special benefits or written, audio, or visual content.
Koo – Features
Koo has launched various features till now. Below are the details of the prominent features:
“Talk to Type” was launched in May 2021 by Koo. This feature helps users leverage voice assistants to share their thoughts without having to type.
In August 2022, Koo introduced topics in ten different languages in its app feature. Users will be assisted by this feature in limiting their content viewing to more pertinent categories.
Four unique features were launched by Koo in September 2022. The four features are, enabled users to upload up to 10 profiles, save a Koo, schedule a Koo, and save drafts.
Koo launched a feature enabling writers to draft and compose posts using ChatGPT in March 2023. Creators will be able to draft their Koos with the aid of AI (Artificial Intelligence).
Koo launched the Safety feature in the App in March 2023. According to Koo, the new feature created in-house can identify and block any type of material that encourages child sex abuse in less than five seconds.
Koo introduced a monthly premium feature in June 2023. With this launch, creators can provide their users with exclusive material in exchange for a weekly or monthly subscription fee with Koo Premium.
Koo – Partnership and Tie-up
Koo has partnered with two companies till date:
Koo tie-up with India Post Payments Bank (IPPB) in September 2022. This tie-up aims to help the bank contact its clients in any part of the country, including rural areas and far-flung cities, where Koo will help them communicate with customers in different languages.
Koo partnered with IIT Delhi on August 6, 2022. The aim of this partnership was to raise awareness regarding air pollution.
Koo – Competitors
Many people believe Koo is yet another attempt to build something similar to Tooter, which claimed to be a “Swadeshi social network”.
Koo is capitalizing on a burgeoning market in India for regional language social networking – but it’s not alone. Some of the Koo competitors are:
Tooter
Namaste Bharat
Elyments
In August 2020, Koo won a popular competition sponsored by the Indian government as part of the Made-In-India program. As a result, Indian politicians are ecstatic about the newly launched Indian version of a microblogging platform and are encouraging others to join. What’s also intriguing about Koo is that it’s gaining a lot of traction in India, despite controversies over Twitter’s ideological stance.
Although there’s a lot of difference in the number of downloads of both apps, Koo’s biggest competitor is Twitter.
Koo – Challenges Faced
The Koo app is leaking user information, according to French cybersecurity researcher Robert Baptiste, who also goes by the Twitter handle Elliot Alderson. Baptiste has previously identified security flaws in the Aadhaar scheme, as well as glitches and weaknesses in other tech services.
You asked so I did it. I spent 30 min on this new Koo app. The app is leaking of the personal data of his users: email, dob, name, marital status, gender, … https://t.co/87Et18MrOgpic.twitter.com/qzrXeFBW0L
Meanwhile, there has been some speculation about a possible Chinese link to this app. Shunwei has also invested in Koo. Shunwei is related to Xiaomi and is a venture capital fund that invests in start-ups. Shunwei, on the other hand, is leaving the business and selling its shares, making Koo a completely Indian company. The co-founder of Koo has verified this.
Koo is seeing a reduction in monthly users in July 2022, it was 9.4 million, but it reduced to 4.1 million in January 2023.
Koo – Awards and Achievements
Koo was declared the winner of the Best Apps of 2020 in the Everyday Essentials category from India and awarded by Google Playstore at Google Awards 2020.
Koo won the government’s app innovation challenge in the social category in 2020.
Koo App wins Atma Nirbhar App Challenge in 2020.
Koo was declared the winner of Nasscom’s prestigious ‘League of 10 – Emerge 50’ Award for 2021.
Koo – LayOffs
Koo laid off 30% of its employees, as reported by various news resources in April 2023. The reason for the layoff is due to the current market environment and the external realities of a global slowdown.
Koo – Shutdown
Mayank Bidawatka’s LinkedIn Post on Koo Shutting Down
Koo is shutting down after unsuccessful attempts to secure deals with several major internet companies, conglomerates, and media houses.
In a post on 3rd July 2024 on LinkedIn, Koo’s co-founder Mayank Bidawatka said that they were exploring partnerships with “multiple larger internet companies, conglomerates and media houses, but these talks didn’t yield the outcome” and that “a couple of them changed priority almost close to signing.”
This update follows a report by The Morning Context, which indicated that the deal between Koo and DailyHunt did not materialize. Although Koo successfully expanded its presence in Brazil, achieving over 1 million downloads within 48 hours of launch, it faced challenges gaining traction in the Indian market.
FAQs
Is Koo app Indian?
Yes, Koo is a made-in-India application.
Which company owns Koo?
Bombinate Technologies Pvt Ltd owns Koo.
Who founded and started Koo?
Aprameya Radhakrishna and Mayank Bidawatka co-founded and started the Koo social media app and microblogging platform.
What is the Koo app founder’s country?
Koo is an app that is founded in India. Both the Koo app founders, Aprameya Radhakrishna and Mayank Bidawatka are based in India.
How many people use Koo app?
There are currently 60 million plus users of the Koo app.
Which companies do Koo compete with?
Tooter, Namaste Bharat, Elyments, and Twitter are the companies that Koo competes with.
Is Koo app listed in the stock market?
The Indian microblogging site Koo is not listed in the stock market.
Shubhi Agarwal, Co-Founder & COO of Locobuzz, Dives into Entrepreneurship, Funding, and Innovative GenAI Applications.
The journey of a startup founder is filled with good times and bad times, successes and failures. Being a female founder in a male-dominated tech industry can be uniquely demanding. As a startup founder, they are not only breaking barriers and shattering stereotypes but are awe-inspiring entrepreneurs.
The “Crafting Bharat – A Startup Podcast Series” powered by AWS, and an initiative by NewsReach, in association with VCCircle, unlocks the secrets behind these successful entrepreneurs’ journeys aiming to equip aspiring entrepreneurs and business enthusiasts with invaluable insights. The podcast series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times.
The Indian startup ecosystem has grown rapidly and evolved over the past decade. Shubhi Agarwal, Co-Founder and COO of Locobuzz is creating a buzz with their unified CXM platform. In the Crafting Bharat Podcast series, Shubhi Agarwal shares about her entrepreneurial journey leading to the incorporation of Locobuzz. She also talks about the lows and highs of being bootstrapped and how they are innovatively using GenAI.
Through the Crafting Bharat Podcast Series, let’s discover the stories of Indian startup founders’ journey of turning dreams into reality and turning challenges into opportunities.
Crafting Bharat, Episode 5 With Shubhi Agarwal, Co-founder & COO of Locobuzz
Segment 1: The Incubator
What are your thoughts on taking a strategic time-out? Any benefits that you see especially for startup founders?
While this whole presumption may look very counterintuitive, I completely agree with your observation of this, because 8 hours of sleep is sacrosanct. I recently read a book by Matthew Walker named ‘ Why We Sleep’. The book talks about why sleep is required like any good fitness regime needs a day of rest and recovery, an individual also needs rest and recovery to induce ideas and creativity. It helps to be in sync with the innovation happening around you. So, a strategic timeout is very important, the best ideas happen when you are with yourself.
Locobuzz started as a tool for monitoring and analyzing social engagement and is now an end-to-end customer experience platform. What were the highs and lows of that transformation and the lessons that it taught you in growing a business?
Being a bootstrapped company we have to be very cognizant of the inflows and outflows which have been happening. One thing that we have been very careful about is to maintain unit economics. I think every journey is full of highs and lows and ours has been the same. I remember this very fondly when we started Locobuzz, every single win got us so much joy whether it was a new customer acquisition that gave us maybe $200 or $300,000, where we knew that most of that money would go back into the business where we would invest into technology or build the team.
From the largest telecom player to the largest hospitality chain, your customer base of around 300+ is diverse. Any insights on how the CX needs of your large customers differ from the smaller startups that work with you?
Be it a small startup or a big enterprise, their reputation is of utmost importance to them and they trust us to maintain that and that is the common factor which brings it all together. Big enterprises require the platform to work along with their existing system and startups require a platform that is self-sufficient and can be managed by a lean team. The platform that we have created can address both spectrums of clients easily.
Segment 2: The Accelerator
Someone wrote on social media that women in tech are over-mentored and under-sponsored. What’s a professional tactic you could suggest to overcome this problem – especially type casting for roles?
I have done a TEDx talk on this topic. At Locobuzz, we have a very meritocratic society, where your capability is your capability, and you will be hired based on that and not based on gender or where you come from. I would say that one needs to show that they have a result-oriented mindset, take initiative and get them to their logical end. That solves most of the under-sponsored part.
Sometimes startup founders can get enamored by an idea and end up not keeping the consumer pain point that is supposed to be addressed in focus. How should one avoid this?
It’s honestly very tricky. It happens with us also. What we do is create focus groups within the organization and if all the focus groups unanimously agree on building a certain kind of concept we go ahead with that, however, if we are not taking that approach we do what we did at the start of our journey which is we go to our clients.
Entrepreneurs who embark on the journey of making an impact in the world, often face unique challenges. Their undying motivation and dedication to building something exclusive and leaving a mark on India’s startup landscape is what drives them through the challenges.
Stay tuned to the Crafting Bharat Podcast Series as they bring you these inspirational entrepreneurs for insightful and candid discussions with Gautam Srinivasan.
This article has been contributed by Dr. Ravi Changle, Director, AI & Emerging Technologies, Compunnel.
Generative AI and Microsoft Copilot are all but set to turn around the way businesses work across a range of industries, fostering innovation and increasing efficiency. The worldwide market for artificial intelligence (AI) is estimated to reach $1.81 trillion by 2030 from $136.6 billion in 2024, indicating the escalating adoption of AI technology that supports business transformation.
It has been predicted by Gartner that about 50% of all content will be created through AI by 2025, emphasizing how instrumental this technology has become in artistic and day-to-day operations. In sectors such as manufacturing generative AI is already revolutionizing industries with product designs optimised and time-to-market reduced by almost 30 percent.
In addition to enhancing productivity and collaboration within an organization, Microsoft Copilot embedded in Microsoft 365 helps to generate text for drafting documents, helping to create presentation materials, and analyzing data.
The Current State of Generative AI and Microsoft Copilot
There have been substantial improvements in generative AI thereby providing powerful capabilities across different domains. For example, GPT models can be used for content creation resulting in high-quality texts, images, and videos which play crucial roles such as marketing, media, and entertainment hence reducing manual inputs. Generative AI is the best in predictive analytics as it provides insights that can be acted upon and predicts market trends and results. Still, it employs AI-driven chatbots to perform repetitive tasks such as data entry and customer service hence increasing efficiency and enabling human resource teams to concentrate on strategic actions.
Microsoft Copilot is integrated into Microsoft 365 thus upgrading productivity and collaboration by using artificial intelligence features. With natural language processing, it writes emails, reports, and documents, thus reducing time spent on writing and editing. In Excel, large data sets are processed by Copilot for real-time insights needed for data-oriented decision-making. Moreover, it also makes creating presentations easier by summing up main points in order to generate PowerPoint slides which are followed by preparing final drafts of a report or an email. During meetings agendas are generated, notes taken down while discussions are summarized thereby saving time.
Additionally, when certain activities need to be done automatically like scheduling meetings or setting reminders for someone’s phone number so that he/she does not forget some important information then this is done through Copilot thereby reducing administrative burdens while at the same time increasing overall productivity.
Research Gaps and Present Limitations of Generative AI and Microsoft Copilot
Generative AI and Microsoft Copilot have significantly transformed business operations, but there are still a number of research gaps and limitations. Therefore, understanding these spaces will be important for driving future advancements as well as fully exploring the potential provided by these technologies.
Generative AI
Contextual Understanding: There are times when AI fails to maintain context over long interactions leading to irrelevant outputs. We need a greater capacity for contextual awareness.
Bias and Fairness: Biases can be passed on to AI through training data with the consequence that its outputs become unfair. We need ways to detect such biases better and minimize their effects.
Creativity and Originality: Most of the time AI lacks true originality, it may reproduce existing works. What we must do is improve creative capabilities in artificial intelligence.
Understanding Nuance: It may lack nuances like sarcasm or cultural references thereby producing inappropriate responses. So, improving upon AI’s grasp of nuanced language is key here.
Ethical and Privacy Concerns: The use of AI in sensitive spheres raises ethical dilemmas along with privacy issues. Therefore, robust ethical frameworks should be put in place alongside privacy-preserving techniques.
Microsoft Copilot
Complex Decision-Making: While being extraordinary at routine tasks, Microsoft Copilot has difficulty dealing with complex decisions that require deep expertise.
Customization: Copilot may not fully adapt to specific workflows. Developing more flexible AI solutions that can adapt to diverse needs is crucial.
Industry-Specific Contexts: Copilot might not understand industry-specific jargon, limiting effectiveness. Training AI on diverse datasets will enhance applicability.
Integration with Legacy Systems: Integrating Copilot with legacy systems can be challenging. Improving interoperability is essential.
Real-Time Collaboration: Copilot’s real-time feedback and adjustment capabilities are limited. Advancing real-time collaboration features will improve productivity.
Filling Research Gaps in Generative AI and Copilots
Moving forward, future developments will aim to make AI more context-aware, equal, imaginative, and ethical. To keep coherence in extended communications memory mechanisms enhanced models and contextual learning would be useful for AI.
Advanced bias detection and mitigation techniques will ensure that fairness prevails in the outputs of AI systems. Enhanced NLP models could understand subtleties like sarcasm and cultural allusions better thus generating responses that are more contextual. Robust frameworks for ethical considerations as well as privacy-preserving technologies such as federated learning and differential privacy will be employed.
Microsoft Copilot is expected to incorporate advanced decision support algorithms, increased customization, industry-specific training datasets, improved interoperability protocols, and real-time collaboration features in its future developments. These transformations are expected to enhance the sophistication of generative AI and copilots that can be used by common people thereby leading to unprecedented productivity levels, especially with regard to creativity and innovation.
Next-Gen AI: The Transformative Potential of Generative Physical AI in Industry 5.0
Generative physical AI will play a key role in Industry 5.0, revolutionizing industries with advanced material design, hyper-personalization, and integration with 3D printing. AI-driven algorithms will develop superior materials, optimize production processes, and create custom products, especially in healthcare. Autonomous systems will self-optimize and self-repair, reducing downtime and maintenance costs. This integration of human creativity and advanced AI technology will drive personalized, sustainable, and human-centric production, transforming industries with increased efficiency, creativity, and functionality.
In summary, generative AI and Microsoft Copilot are poised to transform business operations, driving innovation and efficiency. Addressing current limitations and advancing these technologies will unlock their full potential, shaping the future of work and industry. Get ready for a smarter, more efficient future!
This article has been contributed by Vivek Dev Jacob, a Startup Founder (stealth mode) and an active member of the startup community.
Product Pivot is both a painful and inevitable phase for any startup to achieve growth.
Pivot is one of the most painful phases that requires a strong commitment from your team to spend those long sleepless nights endlessly fixing codes, bugs, features, testings, doubt on better traction, and so on.
Pivot at the same time is one of the most inevitable phases as per the old saying “Innovate or die”. At times, wrong pivots can lead to shutdowns if not done properly. I am here to discuss some best practices with interesting real-life examples to help you understand Why, When, and How you need to initiate a pivot for your startup.
Here are 6 steps that I would recommend based on my interactions with some startup founders that I know from my connections:
1. Acknowledging the Need for Change
Pivot Pyramid
In 2016, Selcuk Atli, CEO and Co-founder of Bunch, introduced the Pivot Pyramid as stated in the above image.
The need for change could be in terms of Growth, Tech, Solution, Problem, and Customers.
Let’s break down each factor mentioned in the pyramid to understand better:
Customers: They form the core foundation of any startup. Any problem statement you plan to solve, the solution you offer, and the tech you plan to implement must be aligned with your ICP (Ideal customer profile) pain points. If you plan to switch in your customer profile, you need to reconsider all the remaining parameters in the pivot pyramid.
Problem: Your problem statement might be something that doesn’t exist or is irrelevant to the customers. You need to check for the Problem Customer Fit – this is a newly crafted term from my end. In simple words, if the problem statement and the customer are on the same pace – bingo you got this!
Solution: The above two steps you have figured out – that’s a decent milestone achieved. Now the real challenge is the change that you make in your product needs to accelerate growth to achieve decent market leadership.
Growth: Ultimately all the changes mentioned should lead to growth, which is at the top of the pyramid. At times you need to tweak your growth strategy and channels based on the market dynamics, or else growth becomes tough.
Below are the famous examples of Pivots at each stage for some named products:
Famous Examples of Pivots
At the end of the day for any pivot decision you need to rely on data for each level mentioned in the pivot pyramid.
2. Redefining the Vision and Strategy
Define a new vision and strategy based on which part of the product needs to pivot as mentioned in the Pivot Pyramid. You must closely monitor your product analytics based on Daily active users, User feedback, and competitor insights. In my honest opinion, ultimately your daily interactions with the customer should be the moat rather than being obsessed with the competition, this will help you define your competitive advantage.
The founder also needs to make a clear timeline to achieve PMF (Product Market Fit), or else all the efforts being put into product pivot might go in vain.
3. Develop a Road Map
“Clearly explain why your product exists and your approach to running it. This could be a mission statement, tenets, or principles. The important thing is that you believe in them, and by pinning them at the top of every roadmap it will be clear if what follows in the roadmap doesn’t match your principles.” — Ian McAllister, Director of Product Management at Airbnb.
A road map is more than just a document that you may want to simply sit and draft, without having a clear goal or objective that needs to be accomplished. The road map also involves getting strong backing from your team and other stakeholders including your investors. The road map cannot be a piece of music for the ears, it needs to be backed by data. You might need clarification about the types of metrics to be used to measure the success or failure of your new product.
Not to worry here are some tips that would help you define the metrics for your road map:
Spell out the metrics early on: By defining them early for your new product, you have better clarity during the development phase, before it’s shipped to your customers.
Scientific Approach: Even before defining your metrics you need to define a hypothesis, test, and measure. The metrics you decide to choose depend on the stage of your product, type, industry, and size of the company. Narrowing down on the important metrics is important to avoid unwanted noise. At the end of the day, all these metrics have to align with the larger business objectives that need to be achieved.
Below are some sample metrics that will help you understand from a business standpoint.
You have to openly communicate the pivot plans with all your stakeholders be it – customers, employees, and investors. Any sort of communication gap with the above-mentioned stakeholders will result in shooting in the dark. Clarity in terms of progress, addressing concerns, and openness to feedback at all levels is something non-negotiable.
5. Implement the Pivot
It is always advisable that you implement the pivot in a series of small steps that are trackable and also do not create unnecessary burdens for your team. As I mentioned at the start of this article ‘Pivot is a Painful process’. All I am trying to point out is maintaining your team morale is important during such a transformational period to ensure the pivot is a success. When I say Pivot has to happen in a series of steps which has to be in line with the Pivot Pyramid as mentioned in the first point. Every team has to make a shift to align with the Pivot – Tech, Product, Growth, Sales, Operations.
6. Iterate and Measure Your Progress
Here, you need to do faster tests, iterate, and follow the loop, as rightly mentioned in the Lean Startup methodology.
MVP (Minimum Viable Product)
I would always recommend the MVP (Minimum Viable Product) approach to ensure efficiency and faster tracking of results.
Once you are ready with your MVP you need to start testing this with a small group of your existing users who can give you the right set of feedback – it could be on regarding your landing page, User experience, and ability to solve the customers’ problem. These days it’s easy to gauge daily active users and retention with the help of many product analytics that are available in the market. Your job doesn’t end by just tracking those analytics in a CSV file. Jokes apart. You need to infer those analytics into actionable items at high priority as stated in the above diagram of the Lean Startup methodology. All the learnings need to be documented for internal visibility and also to expedite the next steps that need to be taken.
All said and done, a Pivot is inevitably painful. You need to have a proper pivot plan as mentioned in the above steps and, above all, a healthy alignment with your customers, investors, and team.
In this exclusive interview, StartupTalky speaks with Nand Kishor Yadav, the Owner and Culinary Development Chef at The White Hart. Yadav shares his journey from helping his mother in the kitchen as a child to working with famous chefs and eventually owning his pub and restaurant in Maidenhead, London called The White Hart.
Yadav talks about his love and passion for cooking, the challenges he’s faced along the way, and what keeps his business successful. He also shares valuable advice for aspiring chefs, based on his own experiences and achievements in the culinary industry.
StartupTalky: What inspired you to become a chef, and how did your journey in the culinary would begin?
Mr. Yadav: From an early age, I realized that academics were not my strongest suit. During my school years, it became clear that conventional careers like engineering, medicine, or government service, which were highly valued in my community, were not the path for me. Instead, I found my inspiration much closer to home.
Growing up, I spent countless hours watching my mother cook for all occasions. Her passion for cooking and feeding people was truly inspiring. No matter how many people she was cooking for, she always remained calm and never relied on a recipe book. She had her unique way of blending spices and would taste the food at every stage to ensure it turned out exactly as she wanted. I used to be her helper in the kitchen, and while it wasn’t easy, it was incredibly interesting and a great learning experience.
Those days were pivotal for me. They made me realize my interest in cooking, which eventually blossomed into a full-blown passion. I frequently helped my mom and aunt in the kitchen, and it was during these moments that my aspiration to cook began to take shape. Recognizing my love for the culinary arts, I decided to pursue a career as a chef. It has been the most fulfilling decision of my life.
StartupTalky: Can you share some key lessons you learned while working with the Qureshi family and how they helped you in your business?
Mr. Yadav: Working with the Qureshi family provided me with invaluable insights that have greatly influenced my approach to running my business:
Proper planning is crucial for the success of any project. I always ensure to do thorough research and preparation before taking on any new project. This helps in anticipating challenges and developing effective strategies to overcome them.
Dedication to your craft is essential for achieving excellence. I remain fully committed to my work, constantly seeking ways to improve and innovate. This dedication drives the quality of the services I provide.
There is no substitute for hard work. I instill a strong work ethic in my team and lead by example, ensuring that we all put in the effort needed to meet our goals.
Success in the culinary world requires effective teamwork. I prioritize building a cohesive team and encouraging open communication and collaboration among staff members to ensure smooth operations and high-quality outcomes.
Always be well-prepared and knowledgeable about your projects. Before starting any new venture, I conduct extensive research and planning to ensure I have a comprehensive understanding of what is required and how to achieve it.
A deep passion and thorough knowledge of your field are crucial for success. I continuously expand my culinary knowledge and skills, driven by my passion for cooking. This enthusiasm is reflected in the dishes we create and the experiences we offer to our customers.
StartupTalky: Reflecting on your culinary career, what hurdles did you face and how did you overcome them?
Mr. Yadav: In the culinary world, chefs encounter several challenges that test their skills, dedication, and resilience. Here are some of the major hurdles I faced and how I overcame them:
High-Pressure Work Environment:
Challenge: The fast-paced nature of the kitchen, combined with the need to deliver consistently high-quality dishes, can be incredibly stressful.
Solution: I adopted a calm and systematic approach to my work, which helped me manage stress effectively. By practicing mindfulness, I ensured that I stayed refreshed and focused, allowing me to perform at my best even during the busiest times.
Long Hours and Work-Life Balance:
Challenge: Chefs often sacrifice personal time and family gatherings to ensure smooth kitchen operations.
Solution: I learned to delegate tasks and empower my kitchen staff, which not only improved team efficiency but also allowed me to create a schedule that included dedicated time for family and personal activities. This balance was essential for sustaining my passion and commitment to the job.
High Stress Levels:
Challenge: Meeting high expectations and striving for excellence can take a toll on mental and physical well-being.
Solution: I implemented strategies to manage stress, such as mindfulness techniques and regular exercise. Additionally, encouraging open communication within the team helped to address issues promptly and maintain a positive work environment.
Financial Challenges and Job Insecurity:
Challenge: The culinary industry is often marked by financial instability and job insecurity.
Solution: To navigate these challenges, I focused on continuous learning and skill development to stay competitive. I also made strategic financial decisions, such as careful budgeting and exploring multiple revenue streams, to ensure financial stability for my business.
StartupTalky: What was it like working under Gordon Ramsay, and what valuable lessons did you learn from that experience?
Mr. Yadav: Working under Gordon Ramsay was an incredibly transformative experience. After my time on the cruise, joining his team taught me the true meaning of excellence. Gordon is not only an exceptional chef but also a brilliant businessman. His influence showed me how to maintain quality and successfully run a business.
Gordon’s perfectionist approach and comprehensive skill set greatly influenced my cooking style. He emphasized the importance of precision and attention to detail in every aspect of culinary preparation. Under his supervision, I learned the value of consistency, the necessity of high standards, and the power of resilience in the face of challenges.
These lessons have been invaluable, guiding me to deliver top-notch culinary experiences and manage my business effectively. Working with Gordon Ramsay taught me that striving for excellence in both cooking and business is crucial for sustained success.
StartupTalky: How did moving from India to the UK impact your culinary path, and what did you learn from the experience?
Mr. Yadav: Moving from India to the UK profoundly influenced my culinary journey, bringing about significant changes and enriching my perspective in several ways. The transition introduced me to a new culinary landscape that was both challenging and inspiring.
In India, I was deeply rooted in the rich traditions of Indian cuisine, with its diverse spices, vibrant flavors, and intricate cooking techniques. Moving to the UK exposed me to a different palate and culinary preferences. It encouraged me to adapt and innovate, blending traditional Indian flavors with contemporary British tastes.
One of the most impactful outcomes was witnessing the integration of Indian cuisine into mainstream British dining, often referred to as the “Curry Revolution.” Dishes like Chicken Tikka Masala became beloved staples, symbolizing the fusion of cultures and flavors. This experience taught me the power of culinary fusion and how embracing diversity can lead to exciting innovations in food.
Moreover, the move highlighted the importance of staying adaptable and open-minded in the culinary world. Adapting recipes to suit local ingredients and tastes while preserving their authenticity was a valuable lesson. It taught me to appreciate the richness of different culinary heritages and the importance of respecting and celebrating cultural diversity through food.
Overall, my journey from India to the UK has been a journey of learning, growth, and exploration in the culinary arts. It has broadened my skills, expanded my creativity, and deepened my appreciation for the transformative role of food in connecting cultures and communities.
StartupTalky: What inspired you to launch your own business in Southall, and how did you set your concepts apart?
Mr. Yadav: Opening my own restaurant in Southall, London, stemmed from a lifelong dream and a deep understanding of the local culinary landscape. Southall is renowned for its vibrant Asian community and high demand for Indian cuisine, making it an ideal location to launch a culinary venture.
The inspiration behind my decision was twofold: first, to fulfill my passion for cooking and hospitality; second, to meet the diverse culinary preferences of Southall’s multicultural residents. Understanding the competitive nature of the market, I aimed to carve out a unique niche that would set my restaurant apart.
Through thorough research and analysis, I identified an opportunity to introduce a blend of street food and fusion dishes, such as Indo-Chinese cuisine. This concept resonated well with the local community and proved to be a success. It allowed me to offer something distinctive while catering to the tastes and preferences of my customers. Launching and managing a restaurant in such a dynamic environment was both challenging and rewarding. It taught me valuable lessons in market positioning, customer engagement, and operational efficiency.
In essence, my journey to open a restaurant in Southall was driven by passion, market insight, and a commitment to offering unique culinary experiences. It has been a journey of growth, learning, and continuous adaptation in the vibrant and diverse food scene of London.
StartupTalky: What were the major challenges in acquiring and running the pub near Heathrow, and how did you tackle them?
Mr. Yadav: Acquiring and running a pub near Heathrow posed several significant challenges, each requiring a unique approach to overcome:
Pub culture differs greatly from restaurants and hotels, demanding a balance of personal touch and professionalism. Establishing a welcoming atmosphere where customers feel at home while maintaining high standards of service was crucial.
Ensuring consistent portion sizes in a pub setting can be challenging, as it impacts customer satisfaction and profitability. Implementing efficient portion control measures helped maintain quality and manage costs effectively.
Providing excellent service in a pub environment involves handling high volumes of customers efficiently. I focused on training staff to deliver prompt, friendly service while maintaining attention to detail and ensuring customer satisfaction.
The pub industry is dynamic, requiring quick thinking and flexibility to respond to changing trends and customer preferences. Staying adaptable allowed me to introduce new menu items, events, and promotions that kept customers engaged and coming back.
By tackling these challenges head-on with a combination of strategic planning, attentive management, and a passion for hospitality, I successfully navigated the complexities of running a pub near Heathrow. Each challenge provided an opportunity for growth and refinement, ultimately enhancing the pub’s reputation and customer experience.
StartupTalky: Can you share insights into catering for high-profile clients like the Hinduja brothers and the Strictly Come Dancing crew? What special considerations are involved and how do you accommodate them?
Mr. Yadav: Catering for high-profile clients such as the Hinduja brothers and the Strictly Come Dancing crew involves meticulous planning, attention to detail, and a commitment to excellence in hospitality.
When catering for esteemed guests like the Hinduja brothers, known for their discerning tastes and high expectations, every aspect must be executed flawlessly. Whether it’s a private event on a boat along the Thames or another prestigious venue, I draw on my experience from working on cruise lines to ensure impeccable organization and service. This includes anticipating needs, coordinating logistics, and delivering a memorable dining experience that reflects their status and preferences.
Similarly, serving the Strictly Come Dancing crew at Elstree film studio presented its own set of challenges and rewards. With daily meals for 500 crew members, consistency and quality were paramount. From breakfast to dinner, every dish had to meet exacting standards, considering dietary preferences and timing constraints typical of television production schedules. It was a dynamic and fulfilling experience, where precision in food preparation and service contributed to maintaining high morale and productivity on set.
In both scenarios, the key to success lies in meticulous planning, flexibility, and a dedication to surpassing expectations. Each interaction with high-profile clients reinforced the importance of personalized service, attention to detail, and the ability to adapt quickly to changing circumstances. These experiences have shaped my approach to hospitality, emphasizing the significance of customer satisfaction and the pursuit of excellence in every endeavor.
StartupTalky:Are there any latest trends or innovations in the culinary industry you’re planning to incorporate into your work?
Mr. Yadav: The culinary industry is always evolving, and there are some exciting trends to watch out for:
Sustainability is increasingly important, with a focus on locally sourced ingredients, reduced food waste, and eco-friendly packaging. These practices enhance sustainability while supporting environmental conservation efforts.
Plant-based diets are here to stay, and I’m eager to expand beyond traditional vegetarian options by incorporating alternative proteins like algae, fungi, and insects. This appeals to patrons embracing plant-based lifestyles.
Global fusion excites me, as I experiment with flavors and techniques from diverse cultures to create unique and appealing dishes that offer new culinary experiences.
Urban farming presents an opportunity to source fresh, locally grown ingredients sustainably. Integrating rooftop gardens and community farms aligns with my commitment to supporting local agriculture.
Minimizing food waste is essential. Crafting menus that utilize ingredients efficiently and creatively repurpose leftovers reflects my dedication to environmental stewardship.
StartupTalky: What tools or strategies do you rely on to manage your business functions smoothly and efficiently?
Mr. Yadav: Absolutely! In navigating the complexities of business management, we leverage essential tools like Zoom for seamless virtual meetings, Zoho for efficient customer relationship management, HubSpot for marketing automation,and Microsoft Project for structured project management. These resources facilitate clear communication, streamline operations, and enhance productivity—integral components for achieving success in business operations, far beyond the realms of the kitchen!
StartupTalky: What are your goals for The White Hart, and how do you envision its growth and enhancement?
Mr. Yadav: Our vision for The White Hart is to establish it as a premier destination pub, creating a welcoming atmosphere where families can gather to enjoy freshly cooked food and drinks. We aim to enhance our offerings by introducing a diverse new menu that caters to varied tastes. Additionally, we plan to host special events like Tasty Tuesday, featuring a monthly tasting menu, and introducing an Indian vegetarian and non-vegetarian Thali every Sunday.
Embracing community engagement, we look forward to hosting an open mic night every last Thursday of the month to showcase local talent. Moreover, our expansive kids’ playing area will serve as an ideal venue for children’s parties, ensuring we cater to families in every way possible. Soon, we’ll also unveil a banquet party hall to accommodate larger gatherings and celebrations.
To achieve our goals at The White Hart, we prioritize understanding our strengths and weaknesses, setting clear targets, and diligently working towards them. By focusing on what matters most and maintaining a strong work ethic, we ensure that our efforts are aligned with our aspirations. Honesty, loyalty, and responsibility are fundamental values we uphold, driving us to deliver exceptional experiences and exceed expectations in all aspects of our operation.
Nand Kishor Yadav, Owner and Culinary Development Chef, The White Hart
StartupTalky: What advice would you offer aspiring chefs, and what skills should they focus on learning?
Mr. Yadav: Hey, aspiring chefs! Know your strengths and weaknesses right from the start. Setting clear goals and targets gives you something to aim for. What are your priorities? Focus on those to stay on track and achieve your dreams. Hard work is essential—there’s no shortcut to success in the kitchen! Always be honest and loyal in your work; it builds trust and respect. And remember, taking responsibility for your actions helps you learn and grow as a chef. Ready to take on the culinary world?
StartupTalky: Congratulations on reaching your 25th-year milestone! It’s quite an achievement. What reflections or sentiments do you have as you celebrate this silver jubilee?
Mr. Yadav: Thank you so much! It’s truly a remarkable journey filled with learning, growth, and unforgettable experiences. Over the past 25 years, I’ve had the privilege to work with amazing colleagues and clients, tackle challenges head-on, and witness the evolution of our industry. This silver jubilee is not just a celebration of time passed but also a moment of gratitude for everyone who has supported me along the way. I’m excited about what the future holds and look forward to continuing this journey with passion and dedication.
Shipping heavy machinery is a complex process that requires careful planning and strategy to ensure cost-effectiveness and efficiency. Whether you’re relocating industrial equipment across state lines or sending large-scale construction machinery to a new site, managing logistics and costs is essential.
This guide outlines ten strategies to help your business effectively reduce expenses and enhance the operational logistics of heavy machinery shipping.
1. Optimize Route Planning
Effective route planning is pivotal in minimizing transportation costs and enhancing delivery times for heavy machinery. Utilize advanced routing software to allow your company to map out the most efficient travel paths and avoid toll roads, low bridges, and areas prone to traffic congestion. This strategic planning conserves fuel and diminishes the likelihood of unexpected delays and additional costs arising from detours or rerouting.
Moreover, optimized routes can lead to shorter travel times, reducing the time machinery is in transit and, therefore, lessening the potential for wear and tear or damage.
2. Choose The Right Transportation Mode
The choice of transportation mode is crucial when shipping heavy machinery and must be tailored to the specific requirements of each shipment. For oversized or extremely heavy equipment that doesn’t have strict delivery time frames, rail transport can offer a cost-effective solution. It typically provides lower fuel costs and the ability to handle larger loads than road transport.
Conversely, for equipment that requires faster delivery or must traverse shorter, more specific routes, employing a reliable heavy haul trucking company can prove advantageous. This mode offers greater flexibility and direct routing to the destination, which can be critical for urgent or last-minute shipments as it provides a tailored solution that rail can’t match.
However, to learn more about how heavy equipment transport can aid your enterprise, consider consulting with experienced professionals for insights and guidance.
3. Consolidate Shipments
Consolidating shipments is a strategic approach that can lead to substantial cost savings and environmental benefits. By planning meticulously and combining smaller loads into one larger shipment, your company can utilize its transportation resources more efficiently. This consolidation reduces the number of trips needed to transport the same machinery, directly cutting down on fuel consumption, labor costs, and emissions.
Additionally, larger, consolidated shipments can often secure lower freight rates and more favorable terms from carriers. This strategy enhances the cost-effectiveness of transporting heavy machinery and supports sustainability efforts by reducing the overall carbon footprint of logistics operations.
4. Use Specialized Hauling Equipment
Utilizing specialized hauling equipment tailored for heavy machinery transport is vital for enhancing safety and efficiency. Such equipment, including multi-axle trailers, modular trailers, and custom-fabricated security devices, is engineered to manage the substantial weight and unique dimensions of heavy loads. By ensuring stability and security, these tools can significantly reduce the risk of damage during transit.
Moreover, they expedite loading and unloading processes, decreasing labor costs and downtime. Investing in or renting these specialized solutions can provide substantial long-term benefits by minimizing the likelihood of transit-related incidents and ensuring the machinery arrives in optimal condition and is ready for immediate use.
Shipping during off-peak hours can significantly reduce transportation costs and mitigate delays caused by traffic congestion. The timing of shipments can dramatically affect freight rates and availability; for example, weekends, nights, or non-peak seasons often offer lower costs and more flexible scheduling options. By collaborating with logistics partners, your business can identify the most cost-effective shipping times that align with your delivery requirements.
6. Maintain Regular Equipment Inspections
Conducting regular inspections of heavy machinery before transportation is crucial for ensuring reliability and safety during transit. These inspections can help verify that the equipment is in optimal working condition and properly secured, reducing the risk of breakdowns, accidents, or costly delays. Routine maintenance prevents unexpected repairs on the road and extends the machinery’s operational lifespan, optimizing the investment in heavy equipment.
By establishing a consistent schedule for thorough checks and adhering to maintenance protocols, your company can avoid the potential high costs associated with emergency repairs and prolong the efficacy and productivity of your valuable machinery.
7. Leverage Technology For Tracking And Management
Advanced tracking systems and transport management software are essential for modern heavy machinery shipping operations. These technologies enable real-time monitoring of shipments, providing crucial data on location, speed, and route conditions. Such insights allow your enterprise to optimize routes, adjust schedules proactively in response to delays or disruptions, and enhance overall logistic efficiencies.
Furthermore, these tools facilitate seamless communication among drivers, logistics managers, and customers, ensuring all parties are well-informed about the shipment’s progress and estimated delivery times. By leveraging technology, your company streamlines its operations and improves service reliability and customer satisfaction.
8. Negotiate With Carriers
Negotiating with carriers is a strategic approach to reducing transportation costs and enhancing service quality. Building strong, long-term relationships with freight carriers can provide significant advantages, such as securing better rates and more favorable terms. Your business should evaluate multiple carriers based on cost-effectiveness, reliability, and the quality of service provided.
Engaging in regular negotiations and leveraging volume or loyalty as bargaining chips can lead to more customized and cost-effective shipping solutions. This practice ensures financial savings and fosters partnerships accommodating evolving business needs and market conditions.
9. Train Your Team
Effective personnel training is critical in the heavy machinery transport sector. Ensuring that employees are well-trained in the latest operational procedures, safety protocols, and emergency responses enhances their ability to handle equipment competently and safely. Comprehensive training reduces the likelihood of costly accidents and operational delays, which can affect the company’s reputation and bottom line.
Additionally, skilled workers are more efficient and can contribute to faster turnaround times and higher customer satisfaction levels. Investing in continuous learning and development can help maintain a knowledgeable workforce that can adapt to new technologies and industry standards, driving overall business success.
10. Review and Optimize Regularly
Continuous improvement is key to maintaining cost-effectiveness in heavy machinery shipping. Regularly reviewing and optimizing logistics processes allows your company to identify inefficiencies and adjust strategies accordingly. This may include reassessing carrier contracts, refining route plans, or upgrading technology and equipment used in the transport process. Such periodic evaluations ensure that the shipping operations stay aligned with the best practices and latest industry trends.
By committing to ongoing optimization, your enterprise enhances its operational efficiency. It ensures it’s well-positioned to respond to market demands and regulatory environment changes, thus maintaining competitiveness and profitability.
Takeaway
By implementing these strategies, your company can achieve more efficient and cost-effective heavy machinery shipping. It’s about understanding the specific needs of large-scale equipment transport and making informed decisions that contribute to streamlined operations and minimized expenses. With careful planning, the right resources, and a focus on innovation, your business can optimize its heavy machinery logistics for better outcomes.
Dr. Ryohei Mori, CEO of Green Science Alliance, a group company of Fuji Pigment Co., Ltd., has a rich academic and professional background that spans from the Kyoto Institute of Technology to Harvard Business School. Dr. Mori is dedicated to developing innovative materials and products to combat climate change.
In this interview, he shares insights into his journey, leadership lessons, and the groundbreaking work at Green Science Alliance aimed at creating a carbon-neutral, sustainable future.
StartupTalky: Could you share insights into your professional journey and experiences? Additionally, what drives and motivates your daily routines?
Dr. Mori: I went to Kyoto Institute of Technology and graduated in 1997 with a degree in Applied Biology. In 1999, I finished my master’s degree in science from Kyoto University, in Japan, followed by PhD in Engineering from Kyoto University. I also completed the General Management Program at Harvard Business School.
I worked in Nissha Company and worked as a sales engineer and translator in Oulu Finland. Then I worked as a researcher at Fuji Pigment Co. Ltd, Japan, and became CEO in 2017.
I also established Green Science Alliance Co., Ltd. and the Quantum Materials Technology, and engage myself as the President of both companies.
Especially at the moment, I am focusing on the Green Science Alliance Co., Ltd. business. I try to research and develop cutting-edge materials and products based on materials synthesis engineering technology at a molecular level. When one creates new materials which is controlled and optimized at a molecular level, that material have a possibility to show significantly enhanced physical and chemical properties.
Based on this technology, I have developed various types of environmentally friendly products including biomass-based chemicals such as biodegradable plastic, next-generationtype rechargeable batteries, platinum-free (less) fuel cells, printable quantum dot solar cells, CO2 capture and utilization (artificial photosynthesis), etc.
My motivation is to establish a carbon-neutral, sustainable society with actual cutting-edge technology, in order to decrease CO2 emissions as well as mitigate climate change. These are the technology, products, and business for Green Science Alliance Co., Ltd.
StartupTalky: Reflecting on your extensive industry background, what standout lessons have you gained, and can you elaborate on your distinctive leadership style?
Dr. Mori: With my technical background, I can develop cutting-edge materials and products as I wrote above as Green Science Alliance Co., Ltd business. However, to develop such products and to sell those products are different issues. This development took many years although fortunately with the financial help of the base company which is Fuji Pigment Co., Ltd., I was able to achieve such cutting-edge products.
Therefore, as a leader, it is important to promote both ongoing profitable business and cutting-edge research at the same time, with different types of employees, who are interested in an already existing profitable business and who are interested in developing cutting-edge products.
StartupTalky: Dive into the core offerings of Fuji Pigment Group. Furthermore, shed light on the unique value propositions that individuals or businesses can anticipate from your services.
Dr. Mori: I would like to describe based on the Green Science Alliance business and not based on the Fuji Pigment business. I try to offer actual products and technology to create a sustainable, carbon-neutral society. Those are plant-natural biomass-based chemicals such as biodegradable plastics, biomass coating, biomass paint, etc… The main concept is to replace all petroleum-based chemical products with plant, natural biomass-based chemical products so that we can contribute to the decrease of CO2 emissions, and reduce plastic pollution.
In addition, by developing next-generation-type rechargeable battery (which could be cheaper and stronger than lithium-ion batteries), platinum-free (less) fuel cells, printable type quantum dot solar cells, CO2 capture and utilization (Artificial Photosynthesis), CO2 emission also could be decreased in order to slow down the climate change. I am also developing a quantum dot-based nano fertilizer, an anti-bacterial material for agriculture, and a water harvesting device from the air, based on metal-organic framework technology. By offering these cutting-edge technologies, individuals and businesses may get profit to build up a sustainable, carbon-neutral society.
StartupTalky: In navigating your role as a leader, what significant business challenges have you confronted, and what strategies did you employ to successfully overcome them? Also, balancing the preservation of company heritage with the imperative to innovate and adapt to change can be challenging. How do you manage this delicate equilibrium within your organization?
Dr. Mori: I would like to answer the above 2 questions in the following answer.
Performing cutting-edge research that does not produce revenue for a long time and promotes ongoing profitable business simultaneously. To keep a profitable business profitable is also difficult because if I concentrate on cutting-edge research too much, profitable businesses become non-profitable at the end. In order to overcome this issue, give up on making employees work on cutting-edge research and let them concentrate on already existing businesses. And make separate team members to work on cutting-edge research.
StartupTalky: Envisioning the future, could you elaborate on the destination you are steering towards in your professional journey?
Dr. Mori: Not only raw materials as a chemical company (B2B business) but also creating plant natural products for direct customers (B2C business). For example, we are selling some plant-natural resin-made bioplastic products, nail cosmetic products, etc… so that people can recognize our company.
Another example is the rechargeable battery. So far, we focused on supplying raw materials for rechargeable batteries. But now, we are preparing to manufacture some kind ofspecial rechargeable battery (Black Mass based recycled type rechargeable battery, which could be the first time in the world as a practical recycled type lithium-ion battery) as a B2C business.
By promoting both B2B and B2C business, I am planning to accelerate the business rapidly.
I am planning to make Green Science Alliance Co., Ltd. to be independent from Fuji Pigment Co., Ltd. by raising capital from investors. I have set up Green Science Alliance CCo., Ltd. branch offices in Biel/Bienne, Switzerland, and Toronto, Canada, also preparing for a branch in Mexico. Planning to go public in a stock exchange market either at Nasdaq, or Tokyo, Japan.
Chirag Taneja, Co-Founder and CEO of GoKwik discusses his entrepreneurial journey, E-Commerce trends, GoKwik’s growth story, and venture capital funding with host Gautam Srinivasan.
There is no one-size-fits-all formula for startup success, each company’s journey is unique and full of uncertain challenges. The founders behind these successful startups possess an admirable spirit of determination, passion and vision to bring change through innovation.
The “Crafting Bharat – A Startup Podcast Series” powered by AWS, and an initiative by NewsReach, in association with VCCircle, unlocks the secrets behind these successful entrepreneurs’ journeys aiming to equip aspiring entrepreneurs and business enthusiasts with invaluable insights. The podcast series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times.
In the dynamic landscape of India’s startup ecosystem, Chirag Taneja, the Co-Founder and CEO of GoKwik, stands out as a visionary leader driving innovation and reshaping the e-commerce sector. In the debut episode of Crafting Bharat, Taneja shared how he embarked on a challenging entrepreneurial journey that led to the founding of GoKwik. He also talks about building a remote-first company during the pandemic and the future of the e-commerce industry with emerging technologies like GenAI.
Through the Crafting Bharat Podcast Series, let’s discover the stories of Indian startup founders’ journey of turning dreams into reality and turning challenges into opportunities.
Segment 1: The Incubator
Which parts of your original thesis of founding GoKwik panned out and which did not?
The initial thesis centered around whether India would embrace direct-to-consumer models, mirroring the USA rather than China. Another thesis was targeting the untapped Cash-on-Delivery market globally. Finally, the focus shifted to building a diverse VC-backed business in India, requiring multiple products to foster D2C market growth, embracing a vision yet adaptable strategy.
Crafting Bharat, Episode 4 With Chirag Taneja, Co-Founder and CEO, GoKwik
What were the challenges you faced in building a remote-first company?
GoKwik is a pandemic-born company. By the time we could even think about whether we were going to be remote or in-office, we were already 150 people. We had already crossed the Dunbar Number, the mark where the organization starts to change. I am still not married to the fact that we must build the company remotely, I am married to our overall vision with GoKwik.
As a founder how did you manage that transition from intuition to data-driven decision-making while GoKwik was exponentially scaling up? How do cloud platforms like AWS make this transition easier?
If you see second or third-time founders, they would have done something and would have figured out that this is a problem nobody else is solving, for me, I came from that world and I knew nobody was solving this problem and I didn’t require data to support that it was purely my gut and starting figuring out what is the right way to solve this problem.
Segment 2: The Accelerator
You are a big fan of Rahul Dravid. Tell us about his influence on your leadership approach.
He has stuck to one field and played the long game. I have learned how to take long-term calls which are important for what you’re trying to build and it’s applicable in almost everything. It is okay to be impatient in the short term but your results should yield in the long term.
What’s your view on this conversation that is happening around work-life balance?
I am a firm believer that outcomes matter more than the number of hours you have put in, which helps us drive the remote-first company. Simply put, if you’re working in India you shouldn’t be thinking about the work-life balance at the moment especially as a startup founder, as it is our opportunity to build the country and we have a huge responsibility on our shoulders in building the country.
How do you stop overthinking and overcomplicating and spending bandwidth on things you shouldn’t when starting up?
From a simplicity point of view, I would say that overthinking does not lead to anything. My view is that if you’re overthinking or if you’re in confusion then act, don’t overthink. The action will tell you whether it’s working or not working instead of spending one month thinking or having excessive strategic discussions.
Don’t find customers for your products, find products for your customers. What is your view on this?
It is said that all customers are looking for their problems to be solved rather than buying our solutions or products. Typically, I would say that always the pitch or product discovery calls that you do is to discover what is the real problem you’re trying to solve for your client.
India’s startup landscape is growing by leaps and bounds, coming forth as one of the most vibrant startup ecosystems on the global stage. Entrepreneur’s unwavering motivation and dedication to building something unique have greatly contributed to shaping India’s startup landscape.
Stay tuned to the Crafting Bharat Podcast Series as they bring you these inspirational entrepreneurs for insightful and candid discussions with Gautam Srinivasan.
Kinnary Nensee
