UDGAM 2024: Drifting Across Dimensions, presented by NABARD, co-presented by Pyrotech Workspace Solutions, IITG TIC, and IITG TIDF from 19 January to 21 January 2024.
The summit is a part of the continued efforts to develop the spirit of entrepreneurship among the youth of North-East India. UDGAM organizes various Lecture Series, Workshops, and Competitions to create a platform for young minds to realize their potential and showcase their ideas in front of the public and industry. This year, UDGAM is being conducted at a scale grander than ever in hybrid mode for both online and offline audiences.
The summit also features keynote lectures by notable personalities, including Sandeep Jain (Founder & CEO at Geeks For Geeks), and Jeff Maggioncalda(CEO at Coursera) among others. In addition, it will include pro shows by Cast of TVF Cubicles Season 3, musical night, and much more! A major spotlight of the summit this year is Chai pe Charcha, the Alumni Panel discussion, where we invite our alumni who made it big in the industry, to inspire our students to start their ventures in the future. To grace Chai pe Charcha, this year we have Gaurav Mangla (Co-Founder at Pickrr), Kuldeep Parewal(Co-Founder Anveshan), and many more.
Among the other major events under UDGAM are the following:
Disrupt: Disrupt is North East India’s largest startup boot camp. Presented by NRL, Disrupts provides investment opportunities to winners, mentorship, incubation, and business tools to the top finalists.
Sparkle: A student boot camp to promote the spirit of entrepreneurship among the students from classes 9th to 12th.
DFrame: DFrame is a UI/UX Challenge. This event blends creativity and business relevance, aimed at framing and developing the designer’s innovative quotient to find technical solutions while staying true to the human-centric approach.
PMx: PMx is India’s largest product case study competition. Presented by The Product Folks, Product Management Expedition is a platform where one can investigate, learn, and try different things in the Product Management domain without any preparation.
Startup Expo: Collaborating with IIT Guwahati Technology Innovation and Development Foundation(TIDF), UDGAM is conducting StartupExpo – a startup expenditure to provide an opportunity for 60+ startups to showcase their products, receive customer feedback, and connect with 15+ potential investors including Titan Capital, India Angel Network, India Network, and many more.
Workshops: UDGAM workshops aim to provide participants with an opportunity to interact with domain experts and become industry-ready in various fields.
Intern Fair: At the Internfair, more than 70+ startups recruit summer/winter interns from IIT Guwahati for 300+ job roles. Catering to the second and first-year students of IITG exclusively, it aims to teach the entrepreneurial mindset in young minds.
NED: National Entrepreneurship Drive is an initiative to help colleges all over India build their Entrepreneurship Cells with colleges as IIM-Shillong onboarded through a roadmap of resources, webinars, and assignments.
“As it has always been with UDGAM, the focus is to foster an environment conducive to entrepreneurial thinking among the student community in the region, which is largely untapped in terms of the startup space but is sure to become a key player in the coming years,” said Sneha Singh, the convenor of UDGAM’24, during the Website and Pass-launch.
A mindset is a set of beliefs, attitudes, and thoughts that determine how we perceive and respond to our environment. Our mindset acts as an interpretative lens, guiding our conduct and reactions.
Reading mindset books can help you improve your problem-solving skills by encouraging you to approach issues with a growth-oriented mentality. They inspire you to move outside your comfort zone and try new things. Let us now look at a few books that have had an everlasting impact on generations of readers.
Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones
Author
James Clear
Goodreads Rating
4.36 out of 5
Best Books for a Positive Mindset – Atomic Habits
James Clear distills the most fundamental information on habit building so you can do more by focusing on less. Atomic Habits is one of the best books for a Positive Mindset that gives readers a clear set of guidelines for forming healthy habits and breaking detrimental ones using the Four Laws of Behaviour Change framework. Reading this book will enable you to build a system for improving by 1% every day. It will also show you how to overcome a lack of motivation and strengthen willpower.
The Compound Effect
Book
The Compound Effect: Jumpstart Your Income, Your Life, Your Success
Author
Darren Hardy
Goodreads Rating
4.22 out of 5
Best Books for a Positive Mindset – The Compound Effect
The compound effect is a strategy that involves reaping immense benefits from seemingly small efforts. It’s not significant decisions that derail us but insignificant ones that you think don’t matter or count for much. You may not be aware of it, but even minuscule decisions can have a big impact. In this case, the secret to achieving significant results is consistency. According to the author, the compound effect is always at work. You must learn to make it advantageous for you, or it will work against you.
Mindset
Book
Mindset: The New Psychology of Success
Author
Carol S. Dweck
Goodreads Rating
4.09 out of 5
Best Books for a Positive Mindset – Mindset: The New Psychology of Success
In this book, Dweck dives into the idea that how we think about our talents and abilities may significantly impact every aspect of human endeavor. She explains the concept of a “false growth mindset” and offers advice on how to embrace a more profound and authentic growth attitude. In doing so, you can develop a deep love for your work and hold onto it even in the face of challenges. To support her argument, she provides a detailed analysis of the differences between a fixed and growth mindset.
The Power of Positive Thinking
Book
The Power of Positive Thinking
Author
Norman Vincent Peale
Goodreads Rating
4.17 out of 5
Best Books for a Positive Mindset – The Power of Positive Thinking
The classic by Norman Vincent Peale focuses on the transformational power of positive thinking—the book advocates for cultivating a positive mindset to overcome challenges and achieve success. According to Norman, the majority of us suffer from self-doubt, which holds us back. To gain confidence in ourselves, we must get over self-defeating thoughts. Despite being released in 1952, the book is still relevant today, inspiring millions to make positive changes.
Change Your Mindset To Achieve Success
Book
Change Your Mindset To Achieve Success
Author
Ale A. Heinen
Goodreads Rating
4.25 out of 5
Best Books for a Positive Mindset – Change Your Mindset
Ale believes that the secret to unlocking your hidden potential and restoring your power resides within you. Your mind is a powerful instrument that can assist you in overcoming any challenge and tackling even the toughest obstacles that may be thrown your way. This book is one of the best books for a positive mindset which is a beacon of hope for those who have experienced multiple failures and losses, providing a road map for regaining self-confidence and achieving desires. Each chapter closes with worksheets that allow you to put the theory into practice.
Best Books for a Positive Mindset – 13 Things Mentally Strong People Don’t Do
Amy Morrin’s book offers a roadmap to increasing your mental strength and emotional resilience. Morin uses her expertise as a psychotherapist and her path through adversity to highlight thirteen everyday habits that mentally strong people avoid. This makes it a valuable resource for diverse audiences. Since the issues described in the text are so relatable, the book remains relevant throughout generations.
Grit
Book
Grit: How to Keep Going When You Want to Give Up
Author
Martin Meadows
Goodreads Rating
3.71 out of 5
Best Books for a Positive Mindset – Grit
The book is centered on the concept of grit, emphasizing the necessity of perseverance and persistence in achieving goals. Your perseverance in the face of adversity is more significant than your intelligence, personality, or other superficial attributes. This brief compilation of practical advice and methods can help you be or become more persistent. The book is based on psychological research, combining evidence-based ideas into the concept of grit. Meadows also features advice from those who have reached the South Pole and even renowned American comedian Jerry Seinfeld.
Mind Hacking
Book
Mind Hacking: How to Change Your Mind for Good in 21 Days
Author
John Hargrave
Goodreads Rating
3.77 out of 5
Best Books for a Positive Mindset – Mind Hacking
John Hargrave’s self-help book aims to guide readers through a three-week program that will positively impact their thinking. Hargrave introduces the concept of mind hacking, which entails understanding and rewiring the way the mind functions. The 21-day program promotes consistency and daily commitment, reinforcing the notion that long-term transformation requires consistent work.
The Magic of Thinking Big
Book
The Magic of Thinking Big
Author
David J. Schwartz
Goodreads Rating
4.25 out of 5
Best Books for a Positive Mindset – The Magic of Thinking Big
The underlying idea of this book is to always believe in yourself. Schwartz encourages readers to think big and to have faith in their abilities to achieve their goals. To make more money, lead boldly, and live a happier life, David Schwartz outlines 13 essential principles for true success. He also explains how harnessing the power of your imagination while setting ambitious goals can drive you towards the life you want.
Make Your Bed
Book
Make Your Bed: Little Things That Can Change Your Life…And Maybe the World
Author
William H. McRaven
Goodreads Rating
4 out of 5
Best Books for a Positive Mindset – Make Your Bed
Making Your Bed is one of the best books for a positive mindset. The author believes that this book is a simple act with important consequences. Getting up in the morning and completing your first task of the day will motivate you to do more. It is a reflection of your pride, discipline, and personal routines. Each chapter of the book serves as a compass, guiding you toward a life of resilience, discipline, and limitless possibilities. This transformative masterpiece was inspired by his experiences as a Navy Seal.
Conclusion
In conclusion, exploring the realm of mindset through insightful reading can be a transformational trip. These instruments not only provide great teachings but also practical solutions that you can apply in your everyday life. They educate us not only to dream but also to think big, embracing all possibilities for growth.
FAQs
What is mindset?
A mindset is a set of beliefs, attitudes, and thoughts that determine how we perceive and respond to our environment. Our mindset acts as an interpretative lens, guiding our conduct and reactions.
What is meant by a positive mindset?
Having a positive mindset involves cultivating a habit of optimistic thinking, consistently seeking the silver lining, and maximizing the potential for growth in any given situation you encounter.
Which is the best book for a positive mindset?
There are a few best books for a positive mindset which are as below:
This article has been contributed by Ms. Sahiba Dhandhania, CEO, Confluencr.
Influencer marketing has become one of the most popular advertising strategies lately and brands are reaching out to social media influencers to connect with their target audience. With that, a trend of audiences being constantly swamped with advertisements and marketing plans to influence their choices is seen evidently.
However, with the rise in influencer marketing, concerns about the authenticity of influencer marketing and the need for consumer protection have also risen.
“A whopping 79% of problematic ads were found online, highlighting the challenges in the digital advertising world. ASCI’s focused monitoring mechanisms boosted digital surveillance to combat objectionable content in the medium. 98% of overall ads processed required some form of modification,” – Manisha Kapoor, CEO and General Secretary of ASCI.
As a response to these concerns, The Advertising Standards Council of India (ASCI) has recently revised its guidelines for influencers to make sure there is better transparency and authenticity in influencer endorsements.
Disclosure Label Requirement
The ASCI’s revised guidelines have many crucial changes. One of the most important and prominent changes is:
Introduction of a disclosure label: A disclosure label is required in all influencer advertisements. This means, that influencers must distinctly disclose when they post an advertisement on social media, using an easily visible and identifiable label on their posts.
The disclosure label must be specified in the text-based posts or blogs and at the beginning of the advertising content in podcasts or audio posts.
These guidelinesaim to ensure that consumers are conscious of times when they are being marketed and can make informed decisions about the products they purchase.
Extension to Health and Financial Influencers
The extension of the guidelines to cover health and financial influencers is another significant change made in the revised guidelines. The ASCI mandates that influencers in these areas must have relevant qualifications and disclose them prominently when endorsing related products.
For example: Influencers endorsing products related to health, nutrition, or fitness must have relevant qualifications in nutrition, physiotherapy, psychology, etc., depending on the nature of the advice provided.
Similarly, financial influencers can only provide investment-related advice after being certified by the Securities and Exchange Board of India (SEBI). This ensures that consumers receive accurate and reliable information from qualified experts.
The ASCI has also expanded the definition of Celebrities in its code to include Social Media Influencers:
The code now defines celebrities as “Individual who either earns a compensation of Rs 40 lakh or has a social media following of 500,000 or more on a single social media account”. This change reflects the changing scenarios of influencer marketing and aims to fortify consumer protection.
The guidelines ensure that the celebrities share their genuine opinions about the products, backed by their research, knowledge, or experience of the product or service being advertised. Celebrities must also conduct their assessment to justify the claims made in the mentioned ads.
“This approach will prove advantageous for influencers, as brands are likely to prioritize those who comply with the guidelines. Influencers have a strong connection with their followers, and as a result, they will strive to benefit their followers’ interests. This dedication will, in turn, contribute to safeguarding the welfare of their followers,”Preety Singh Co-Founder and Managing Director of Boomlet Group.
Promoting Authenticity and Consumer Trust
The ASCI’s revised guidelines emphasise the importance of authenticity and its maintenance in influencer endorsement and aim to build consumer confidence. The guidelines encourage influencers to build their voice and style when endorsing products and to avoid making any misleading claims or exaggerations. The revised guidelines also require influencers to disclose material connections they have with the brand, such as receiving free products or payment for endorsements. This ensures that consumers receive honest information about the products they purchase.
Transparency and authenticity are important to influencer marketing, and people’s support helps in the fulfillment of government rules to certify these values.
Future Regulatory Landscape
As influencer marketing continues to grow, governments will likely introduce more guidelines and rules to protect consumers and promote responsible practices. Brands and influencers must stay informed about these regulations revise their strategies and plans according to the guidelines and avoid potential legal issues.
In conclusion, ASCI’s revised influencer guidelines aim to:
Create more reliable advertising conditions and build consumer trust.
The guideline requires the influencers to use a “disclosure label” whenever they post any advertisements on social media.
The revised guidelines extend to health and financial influencers and mandate that they must hold relevant qualifications and disclose them prominently when endorsing products related.
Today, these revised guidelines are seen as a step in the direction of ensuring consumer protection and maintaining authenticity.
This article has been contributed by Akshat Saxena, Chief Executive Officer and Co-Founder, Froker.
The commerce industry has always been at the forefront of adopting technological innovations to enhance customer experiences and operational efficiency. This ongoing evolution is reshaping the landscape of commerce through quick commerce, which is gradually revolutionizing shopping experiences. The Indian quick commerce sector presently boasts a market value of $700 million. It is on the cusp of substantial expansion, fueled by key technological trends. The integration of artificial intelligence (AI) and the emergence of social commerce are pivotal to this growth. They are not just changing the way businesses operate but also how a young, tech-savvy population interacts with the digital marketplace.
Quick commerce is making the user experience more seamless, personalized, and altered as per the online world. This evolution, driven by increased smartphone penetration and AI’s transformative potential, is paving the way for a future where quick commerce is not just about quick transactions but about creating immersive, intuitive, and engaging consumer journeys. The government’s role in fostering such innovation is crucial, as it can provide the necessary support and framework for these technologies to thrive, ensuring a sustainable and efficient ecosystem for startups.
Let’s look at some of the tech-driven trends that are transforming the quick commerce landscape.
Social Commerce Is the New Frontier in Customer Engagement
Social commerce, the amalgamation of e-commerce with social media platforms, is revolutionizing the way consumers discover and purchase products. This trend is not just about selling through social media. It is about creating an entire shopping experience that is seamless, engaging, and personalized. Social commerce taps into the user’s social network, preferences, and online behaviour to offer a curated shopping experience that’s both intuitive and enjoyable.
Personalization of Searches Through Generative AI
Generative AI search is redefining how customers find products and services online. Unlike traditional search algorithms that rely on keyword matching, generative AI can easily understand and interpret user queries in a more human-like manner. This new-age technology can generate product recommendations and search results that are highly personalized as per the user’s past behaviour, preferences, and even current trends. The result is a more intuitive search experience that helps users discover products that they are more likely to purchase.
AI Assistants to Enhance Customer Support and Interaction
AI assistants, or AI buddies, are becoming integral to the commerce industry. These AI-powered tools can handle a range of tasks, from answering customer queries to providing personalized shopping advice. Unlike traditional chatbots, these AI assistants are capable of learning and evolving based on customer interactions, making them more efficient and effective over time. They can handle a high volume of queries simultaneously, ensuring that customer support is swift and efficient.
AI-enabled content moderation is crucial in social commerce, where user-generated content plays a significant role. AI can quickly analyse vast amounts of data, flagging and removing inappropriate or harmful content, thus maintaining the integrity and safety of the platform. This technology is not only for protecting users but also for preserving the brand’s reputation.
At the same time, AI is being used by startups for predictive analytics, which is used to forecast trends, consumer behaviour, and potential market shifts with remarkable accuracy. This foresight allows for more targeted and effective marketing strategies, ensuring that companies are always a step ahead. Going ahead, the use of AI for protected user experiences and targeted marketing efforts will gain stronger ground in the world of commerce.
Tech-Enabled Supply Chain Optimization
AI and other emerging technologies are rapidly transforming supply chains around the world, including in India. AI systems can analyze huge amounts of data to accurately forecast demand, automatically adjust inventory levels, and optimize delivery routes in real-time. This can contribute significantly to making their supply chains smarter and more efficient. According to a report by PwC, 54% of firms in India are now utilizing AI. With the ongoing technological adoption across industries, the use of tech-enabled supply chains will continue to expand.
Moreover, AI has the power to drive greater sustainability and introduce more ethical practices across quick commerce in India. AI-enabled systems can closely monitor production and distribution chains to detect areas for reducing waste, minimizing environmental impact, and addressing labour, safety, or diversity issues in operations.
The Emergence of Virtual Stores and AR Experiences
The online shopping landscape in India is rapidly evolving with the emergence of immersive technologies like augmented reality (AR) and virtual stores. E-commerce players are integrating AR tools to allow customers to visually try on products and even place items in their actual living spaces before buying. This technology not only boosts customer engagement but also helps reduce return rates by providing a clearer idea of the product before purchase.
Conclusion
The Indian quick commerce industry is poised to reach $5 billion in revenue by 2025, driven by the rapid adoption of advanced and futuristic technologies that are revolutionizing supply chain transparency, optimizing inventory, and elevating customer experiences. Here, government initiatives can enable a regulatory environment fostered through supportive digital infrastructure policies, public-private partnerships, and funding for emerging technology research.
With a tech-empowered consumer base eager for faster deliveries, India can harness innovation responsibly to meet growth targets and establish global AI leadership. By combining commercial interests with ethics and social welfare through government vision and oversight, India can witness resilient tech-enabled advancement in commerce.
Artificial intelligence (AI) has revolutionized the way we conduct academic research. Right from institutions to science, with the emergence of advanced ML capabilities and NLPs – the world of research has undergone growth in Turbo mode. With the help of AI tools, researchers can streamline their research processes, gather relevant information more efficiently, and make more accurate predictions. In this content piece, we will explore ways in which AI tools enhance academic research and how they can be used to improve your research process.
AI-powered research assistant tools can significantly enhance the efficiency of your research tasks. These tools are designed to assist researchers in gathering relevant information from vast pools of data. For example, Elicit is an AI-powered tool that can help researchers brainstorm ideas, find research papers, summarize key takeaways, and analyze patterns. By using Elicit, researchers can save time and effort spent on manually searching and reviewing information. The tool also offers features like categorizing research papers, creating personalized libraries, and setting alerts and saved searches, allowing researchers to better manage their papers.
Smart Citations
Scite.ai – AI-powered Research Assistant Tool
Smart citation tools powered by AI, such as Scite.ai, can revolutionize the way researchers analyze and understand academic articles. These tools use natural language processing to analyze how specific research has been cited and provide insights into whether the evidence supports or contradicts the claims. By using smart citation tools, researchers can save time and effort spent on manually analyzing citations and understanding how certain papers are received in the scientific community. These tools can also help researchers identify research gaps and the effectiveness of research over time.
AI-powered Research Tools
Semantic Scholar – AI-powered Research Assistant Tool
AI-powered research tools, like Semantic Scholar and Google Scholar, can significantly simplify the research process. These tools utilize AI algorithms to extract important information from research articles and provide researchers with a better understanding of the context. For instance, Semantic Scholar allows researchers to quickly browse through papers with TL;DRs (Too Long; Didn’t Read), which provide short summaries of research papers, helping researchers grasp the objectives and outcomes of the studies. Additionally, these tools offer automatic citation features, saving researchers time and effort in formatting citations accurately.
ChatGPT
ChatGPT is an AI-powered tool that can assist researchers in navigating their research processes. By using prompts correctly, researchers can leverage ChatGPT to find sources related to their research topics, retrieve key information, brainstorm ideas, and identify connections between multiple research papers. While ChatGPT can be a valuable tool in aiding the research process and saving time on specific tasks, it should not be used as a substitute for proper research methods.
Now that we have explored the ways AI tools can enhance academic research, let’s delve into how you can use these tools to improve your research process.
How To Improve Your Research Process with AI Tools
Incorporating AI tools into your research process can significantly improve efficiency and productivity. Here are some steps you can take to leverage AI tools effectively:
Step 1: Identify the Right Tools for Your Research
There are various AI tools available that cater to different research needs. It is essential to identify the tools that align with your specific research requirements. Consider factors such as data analysis, literature review, citation management, and collaboration features when selecting AI tools for your research.
Step 2: Utilise Research Assistant Tools
Start by exploring AI-powered research assistant tools like Elicit. These tools can assist you in gathering relevant information, brainstorming ideas, and managing your research papers effectively. By automating certain research tasks, you can save time and focus on the analysis and interpretation of data.
Step 3: Optimise Your Literature Review Process
Smart citation tools like Scite.ai can significantly enhance your literature review process. These tools analyze how research articles have been cited, providing insights into the credibility and impact of the research. By leveraging smart citation tools, you can quickly identify relevant studies, understand their context, and make informed decisions about which papers to include in your literature review.
Step 4: Leverage AI-powered Research Tools
AI-powered research tools like Semantic Scholar and Google Scholar can streamline your research process by extracting important information from research articles. These tools provide features like TL;DRs, which offer concise summaries of papers, enabling you to grasp the key objectives and outcomes of the research quickly. Additionally, they provide automatic citation features, saving you time and ensuring accurate citations.
How to Use Google Scholar
Step 5: Make The Most of the Power of ChatGPT
ChatGPT can be a valuable tool for finding relevant sources, retrieving key information, and brainstorming ideas. However, it is crucial to use ChatGPT as a supplement to proper research methods and not rely solely on its outputs. By combining the insights generated by ChatGPT with your research expertise, you can enhance your research process and make more informed decisions.
Step 6: Stay Updated on AI Advancements
AI technology is continuously evolving, and new tools and features are constantly being developed. Stay updated with the latest advancements in AI research tools to ensure that you are leveraging the most effective tools for your research needs. There’s a lot that can be achieved when you leverage the right tools in the right manner. We are living in times where advancements that took months, almost a decade ago – are achieved in minutes. With Natural Language Processing (NLP) modules gaining prominence, one can achieve efficiency unheard of – with the right mix of prompts, inputs, and machine learning at the fore.
Folks, we know! It may be intimidating right now – with the number of tools that have arrived in the market for every content category out there and that is why, it is important to look for the ones that are better than the rest, in terms of UI-UX and ease of use. This is why, WE at StartupTalky have curated a list that shall help you stay on top of your research game – An updated list of the top AI research tools that too, is updated as per the 2024 standards! So, sit back, relax, do your own ‘research’ with ST, and yeah, keep using AI to smash your goals.
FAQs
How do the AI-powered research tools help the researchers?
With the help of AI tools, researchers can streamline their research processes, gather relevant information more efficiently, and make more accurate predictions.
Which is the best AI-powered research tool?
There are a few AI research tools which include Elicit, Scite.ai, Google Scholar, and Semantic Scholar.
How do Google Scholar or Semantic Scholar help the researchers?
AI-powered research tools Semantic Scholar and Google Scholar can streamline the research process by extracting important information from research articles. These tools provide features like TL; DRs (Too Long; Didn’t Read), which offer concise summaries of papers, enabling you to grasp the key objectives and outcomes of the research quickly.
John Warnock, the co-founder of Adobe, was a major player in the tech world, leaving a lasting impact on the digital landscape. He was born in Salt Lake City, Utah, and his journey into the tech scene began with a deep curiosity and a strong passion for innovation. With a Ph.D. in Electrical Engineering, he started a career that would change how we deal with information and reshape the world of design.
During the early days of personal computing, Warnock, alongside Charles Geschke, created Adobe Systems. This company later became well-known for its groundbreaking software solutions. Their partnership wasn’t just about technical skills, it was a story of facing challenges and staying resilient. Warnock’s role in starting Adobe and developing the ground-breaking PostScript language transformed desktop publishing and played a crucial role in modern graphic design.
As the leader of Adobe, Warnock kept pushing boundaries. Adobe Illustrator, introduced under his guidance, transformed vector graphics and set the stage for the company’s future successes. In 1988, the release of Photoshop further emphasized Adobe’s commitment to innovation, providing new possibilities in digital image manipulation. Warnock’s strategic vision made Adobe a pioneer in software development, creating tools essential in design, multimedia, and digital communication.
Beyond his tech contributions, Warnock’s leadership style and care for employees created a lasting legacy. He promoted a corporate culture that encouraged creativity and collaboration, laying the foundation for Adobe’s ongoing success. Warnock’s journey from a young engineer with a love for innovation to the co-founder of a global tech giant reflects not just his technical skills but also his dedicated efforts in shaping the future of digital creativity. In tech history, John Warnock remains a standout figure whose legacy lights the way for future innovators and visionaries.
Born on October 6, 1940, in Salt Lake City, Utah, Warnock faced a setback in ninth-grade math but later graduated from Olympus High School in 1958. Despite the early struggle, he went on to obtain a Bachelor of Science in mathematics and philosophy, a Doctor of Philosophy in electrical engineering (computer science), and an honorary science degree, all from the University of Utah. At the university, he was part of the Gamma Beta Chapter of the Beta Theta Pi fraternity and received an honorary degree from the American Film Institute.
In 1965, Warnock married Marva M. Warnock, and they had three children. They resided in the San Francisco Bay Area.
Besides his contributions to technology, Warnock had various hobbies, including photography, skiing, web development, painting, hiking, curating rare scientific books, and collecting historical Native American objects.
John Warnock – Early Life
In the late 1970s, as the world stood at the brink of a technological revolution, Warnock envisioned a significant change in how computers handled graphics. Around that time, he partnered with Geschke to establish Adobe Systems in December 1982. Initially, they focused on creating a page description language capable of explaining intricate graphics and text to a printer, giving rise to PostScript.
PostScript, an innovative breakthrough, revolutionized printing and publishing by seamlessly combining text and images with unprecedented precision and detail. Its impact reached across industries, providing a universal language for printers and marking the beginning of desktop publishing. This transformative technology became the foundation of Adobe’s success, firmly establishing Warnock’s reputation as a visionary in computer science.
John Warnock – Career
Before co-founding Adobe with Geschke, Warnock collaborated with Geschke at Xerox’s Palo Alto Research Center (Xerox PARC), where he had started working in 1978. However, unable to persuade Xerox management to commercialize the InterPress graphics language for universal printing, Warnock and Geschke left Xerox in 1982 to establish Adobe. They chose the name Adobe after Adobe Creek, located behind both their homes.
In late 1986, Warnock created Adobe Illustrator, a computer drawing program utilizing lines and Bézier curves for scalable graphics. Originally developed to automate tasks for his wife, Marva, a graphic designer. Illustrator was released in early 1987.
Warnock held twenty patents and served on the board of directors for Ebrary, Hiball, Knight-Ridder, Octavo Corporation, Netscape Communications, and Salon Media Group in addition to his role at Adobe Systems. He was a former chairman of the Tech Museum of Innovation in San Jose. He served on the board of trustees for the American Film Institute, the Sundance Institute, and the Folger Shakespeare Library.
How John Warnock Created Adobe
John Warnock – Adobe
Known as the driving creative force behind Adobe System’s early software products, PostScript, Adobe Illustrator, and PDF, Warnock remained actively involved in new product development throughout his career. After stepping down as CEO in 2000, he continued to play a crucial role as the chairman of the board alongside Geschke until 2017. Even after leaving this position, he stayed connected with the company by serving on the Board of Directors.
A strong advocate for higher education, Warnock and his wife, Marva, showed support by establishing three presidential-endowed chairs in computer science, mathematics, and fine arts at the University of Utah.
They also contributed to an endowed chair in medical research at Stanford University.
In 2003, the Warnocks donated 200,000 shares of Adobe Systems, valued at over $5.7 million, to the University of Utah for a new engineering building. This generous gift led to the completion of the John E. and Marva M. Warnock Engineering Building in 2007, housing the Scientific Computing and Imaging Institute and the Dean of the University Of Utah College Of Engineering.
John and Marva actively participated in charitable endeavors, assisting with cataract surgeries on missions led by Geoffrey Tabin to reverse blindness in less developed countries. They endowed a chair at the Moran Eye Center, supporting efforts to address preventable blindness in Utah and worldwide.
John Warnock – Awards and Recognitions
Warnock received notable honors, including the esteemed National Medal of Technology and Innovation from President Barack Obama.
He was also given the Computer Entrepreneur Award by the IEEE Computer Society, the Medal of Achievement from the American Electronics Association, and the Marconi Prize for his significant contributions to information science and communications.
FAQs
Who was John Warnock?
John Warnock co-founded Adobe along with Charles Geschke in the year 1982.
Who is the CEO of Adobe?
Shantanu Narayen is the CEO of Adobe since 2007.
What is Adobe used for?
Adobe is a software company known for creating multimedia and creativity tools. Its products, such as Photoshop, Illustrator, and Acrobat, are widely used for graphic design, photo editing, video editing, and document management.
This article has been contributed byMr. Nitin Viijay, Founder of MyBizKid.
The Indian entrepreneurial prospect currently is at a very interesting cusp of development. Looking at the emerging stance of the country in the global market, immense entrepreneurial opportunities reside in the nation, providing the desired impetus to the economic growth of the country. Moreover, the recent UN report titled ‘World Economic Situation and Prospects 2024’ projects India as the fastest-growing economy in the world, which further strengthens the entrepreneurial landscape of the country.
Against the backdrop of a burgeoning consumer base and dynamic market conditions primarily governed by technological advancements and supportive government initiatives, the Indian entrepreneurial ecosystem is poised to expand at a phenomenal rate. In order to meet the surging demand projected in the market, it is the need of the hour to integrate entrepreneurial education into the Indian curriculum to ignite entrepreneurial spirit right from the formative years of children.
Though India is poised to thrive on the entrepreneurial front, meandering through this tough terrain comes with a lot of challenges. For instance, with the rapid rate at which industries are transforming owing to digital penetration, there is an underlying pressure among entrepreneurs to innovate perennially to stay ahead of the competitive curve by coming up with disruptive, breakthrough solutions. This requires them to continuously stay abreast of advanced technologies such as AI, IoT, machine learning, and blockchain, to name a few.
In addition to this, the various policies and reforms introduced to encourage entrepreneurship are inherently complex in nature. Contributing to the complications, navigating the diverse investment options requires extensive knowledge to bolster the flourishing potential of business. Amidst the challenging dynamics, let’s explore how entrepreneurial education can help maneuver the tough territory ingeniously.
Integrating entrepreneurial skills in education can go a long way in unleashing the potential of a large talent pool which in the absence of the right guidance could go wasted. It can inculcate the necessary skill sets and creativity required to initiate innovation in the field. By nurturing entrepreneurial skills, education comes with the ability to boost practical skills, and problem-solving approaches, and foster holistic learning among the children. By going beyond the realm of theoretical knowledge, it sharpens the decision-making skills of students in a corporate setup.
2. Building a Resilient Infrastructure
A robust and resilient physical and digital infrastructure plays a crucial role in ensuring smooth business operations. Gauging that a lot of initiatives are available in the form of incubators, accelerators, mentorship programs, and networking opportunities for scaling entrepreneurship in the country, fostering business education empowers students with the knowledge to optimally harness the programs to their benefit. It provides them with the necessary guidance, mentorship, and accessibility to stimulate the growth of the venture.
3. Boost Global Collaborations
Entrepreneurial education comes with a lot of scope to increase international exposure for the students. It gives them valuable insight into the intricacies of the global market, necessary to strengthen their foothold in the international terrain. By equipping the students with a global network and knowledge exchange, it facilitates a suitable environment encouraging cross-border investments, technological adoption, and forging joint ventures, taking the Indian entrepreneurial ecosystem to new heights of success.
Therefore, looking at the thriving entrepreneurial landscape of the country, fostering entrepreneurship spirit in the Indian education system is of prime importance. By enabling the development of the necessary skill set, it empowers students to stay at par with the rapidly changing world. In addition to this, inculcating a problem-solving approach, entrepreneurial education enables students to create and seize the untapped opportunities in the market. Therefore, education comes with a lot of potential to not just encourage the growth of the country but in turn, bolster the economic growth as well.
As the sun rises on January 16, the nation proudly observes National Startup Day, a testament to India’s commitment to encouraging innovation and entrepreneurship. In 2022, Prime Minister Narendra Modi declared this day to celebrate the vibrant spirit of startups, acknowledging them as the backbone of a ‘New India.’ Since then, the startup landscape in the country has witnessed significant growth, with businesses sprouting across the nation.
In 2016, the Indian government laid the foundation for this growth with the inception of the Startup India initiative. Today, India stands as the third-largest startup ecosystem globally, with over 1,12,718 DPIIT-recognized startups spread across 763 districts as of October 3, 2023. The nation not only ranks second in innovation quality but also excels in scientific publications and the quality of its universities among middle-income economies.
In this context, StartupTalky connected with experienced individuals who have navigated the changing landscape of India’s startup ecosystem. In straightforward discussions, we explored their perspectives on India’s progress, the significant role played by the Government of India in driving growth, and their forward-looking views on the future of their respective industries. Their words reflect the pulse of a dynamic and ever-evolving entrepreneurial India.
Mr. Tarun Nazare, Co-Founder & CEO of Neokred Technologies, sharing fintech sector insights said, “Since 2016, we have witnessed the ecosystem go from boom to bust and bounce back. India’s startup landscape saw unicorns thrive, funding dip, and rebound. Now, the emphasis is on profitability with emerging sectors, promising resilient, innovative futures. Its advantages are that the Government is capitalistic, and focuses on the growth of all the sectors. Witnessed very active participation from RBI, regulator of Fintech. Expect mature decisions and good governance for yet-to-be-regulated sectors in the near future. We see promising activities from all the participants in all industries to make sure India’s GDP crosses more than $7 trillion by 2030.”
Kulin Shah, Co-founder and COO of Onsurity said, “Embarking on my entrepreneurship journey, witnessing the addition of over 68,000 startups, the space has undergone a transformative shift and evolved into leaders of product innovation. As the co-founder of an Insurtech, I’ve keenly observed the strategic initiatives that have propelled the rise of InsurTechs such as the regulatory framework, progressive policies, and initiatives. For example, with the introduction of the use and file process, insurers can introduce products to the market on filing with the regulator, thus avoiding a long waiting duration to get approvals. The introduction of regulatory sandboxes and streamlined licensing processes has further paved the way for growth.
Our industry has transcended from a selling approach to a seamless, digital realm, where transactions unfold effortlessly at the click of a button. Insurtech platforms are no longer just facilitators of claims but are comprehensive service providers, offering a diverse array of insurance options with a strong emphasis on convenience and paperless processes.”
HR Industry’s Evolution
Manish Panwar, Business Head, Vega HR,said, “India’s startup ecosystem has surged, driven by a young, dynamic, and talented workforce as well as increased funding, and government initiatives like Startup India. These measures include simplified regulations, tax benefits, and financial support, creating a conducive environment for innovation and entrepreneurship. The aim is to foster economic growth, and job creation, and position India as a global startup hub.”
“Cities like Bangalore, Delhi-NCR, Hyderabad, etc. are tech hubs, hosting diverse startups from fintech to ed-tech. Global attention and investment highlight India’s growing role in the global startup landscape.”
Panwar further added, “The future for the HR industry looks promising driven by a combination of government support, the startup boom, and the need for innovative talent management strategies. At Vega HR, we are passionate about creating solutions for employee rewards & recognition as well as enabling digital equity and streamline the process of ESOP management effortlessly. As companies recognize the importance of aligning employee interests with organizational success, total rewards (short-term & long-term) are expected to play a pivotal role in shaping the future of India’s corporate landscape, and we want to be at the forefront of steering this movement.”
Biotechnology’s Growth
Mr. Najeeb Bin Haneef, Founder and CEO of Zaara Biotech, shares his perspective on the success of his startup and the broader landscape of the biotechnology industry. Reflecting on the system around him, Mr. Haneef states, “The success of my startup does not depend on my knowledge or luck; it is solely because of the system around me that supports my dream.”
He emphasizes the role of various support initiatives, events, and schemes introduced by the government that have been instrumental in the growth of Zaara Biotech. “The various schemes of the state and central government help us reach our products and services in domestic and international markets as easily as a student startup. From our inception, we have explored all privileges available to a student startup, allowing us to pitch and exhibit at various national and international events, with significant support from the state legacy, Kerala Startup Mission.
“We presented our first product at GITEX Global in the Dubai World Trade Center under the Startup Mission scheme. There is always a boom in the startup ecosystem, and the government plays a vital role in creating synergies with international trade and exports. Research stations such as ICAR-CIFT Cochin also enable support for startups like us to reach a broader audience by placing products in various central government sectors. They also recommend participation in various training sessions funded by ICAR,of said Haneef.
Mr. Sumanth Prabhu, Co-founder & CEO of Ulipsu, shed light on the evolution of the EdTech industry in India. He said, “In 2014, the startup ecosystem was not this mature. There wasn’t much awareness about startups, funding, financial models, sales and marketing education, etc. Initially, it was a dream that merely existed but eventually, the startup ecosystem evolved. The startup knowledge, its concepts, the training and mentoring required can be found everywhere. The investing community has increased interest in startups today comparatively. Over the last decade, the government has made efforts to ensure that the startup ecosystem in India is thriving, and rightfully, it has matured today. With programs like the ‘Startup India Program’, different schemes have been available in different states all over India to foster the development of budding startups.”
“Existing startup policies and schemes that were available for companies irrespective of the EdTech industry, has helped us a lot. The Karnataka Government conducts an annual competition where deserving startups are given recognition along with financial grants as high as 50 lakh rupees. Ulipsu was also one of the participating companies in 2018 that was granted 20 lakh rupees. Likewise, a lot of such support initiatives and events were introduced by the government to expand growth,the said Prabhu.
Highlighting the growth prospects of the ed-tech industry, Prabhu said, “Working in the ed-tech sector, the opportunities have increased drastically because of NEP implementation. We are aware about the future of education. Through NEP, there have been collaborations between the industry and academics. Much more awareness & preference is being given to skilling rather than rote learning. Multiple credit-based and entry-exit systems are helping children explore what they want to pursue. Learning outcomes are being influenced and catalyzed by AI. India, having the largest youth population in the world, is where education will show growth more rapidly than ever.”
Tech and Electronics in India’s Startup Landscape
Sandeep Kumar, Founder and CEO, Baatu Tech, highlighting his startup journey said, “In my journey through India’s dynamic startup ecosystem, I’ve witnessed remarkable growth backed by substantial government support. India, now the world’s third-largest startup hub, has seen a surge in total funding from 2015-2022, with 108 Unicorns valued at multiple billions as of March 2023.”
“The government’s initiatives, such as startup challenges, National Startup Awards, Incubators and Accelerators, Networking opportunities, and state rankings, contribute significantly to this success. Startups with sustainable business models and those innovating around artificial intelligence, Software-as-a-Service (SaaS), and deep tech are anticipated to progress well. However, some challenges persist, particularly in funding, revenue generation, and supportive infrastructure,” said Kumar.
While discussing the way forward, Kumar emphasized, “The way forward necessitates pivotal roles for venture capitalists, angel investors, and the corporate sector. Policy measures, in alignment with the Digital India Initiative, are crucial. Bengaluru is a powerhouse in India’s startup ecosystem, hosting a remarkable 1,783 women-led startups, outpacing Mumbai (1,480) and Delhi (1,195), as reported by the startup data platform Tracxn. As India aims to become a global tech player, decisive policy measures and sustained support are vital for continued success, significantly beyond traditional sectors.”
Mr. Sanjeev Ingti, Director & Co-Founder of Eliea Wellness, sharing insights from the personal care industry, remarked, “During my journey, I’ve observed India’s remarkable strides in ecosystem studies. The nation has fostered a robust scientific community, embracing interdisciplinary research to understand and preserve its diverse ecosystems. Collaborations, technological advancements, and environmental policies showcase India’s commitment to sustainable development and biodiversity conservation.
The Indian government has actively propelled the medicinal personal care industry’s growth through policy initiatives, regulatory support, and incentives. Encouraging research and development, streamlining approvals, and fostering innovation have created a conducive environment for accelerated expansion, promoting health-centric products and contributing to the sector’s positive development.
The future of India’s personal care industry promises innovation driven by technology, sustainability, and wellness trends. With a surge in demand for clean and natural products, the industry is poised for eco-friendly advancements. E-commerce and personalized solutions will further redefine consumer experiences, shaping a dynamic and health-conscious landscape.”
Similarly, Mr. Lasakan Cholayil, Co-Founder of Sadhev, reflecting on the landscape of beauty and personal care startups, stated, “In my journey with Sadhev, I’ve seen firsthand the dynamic shift in India’s startup landscape. There’s a palpable energy, especially in our niche of organic beauty. It’s not just about business growth; it’s about a cultural shift towards sustainable living. We’re riding this wave, innovating and connecting with a community that values what we value.
The Government of India has been a catalyst for us. Initiatives like ‘Make in India’ haven’t just been slogans; they’ve opened doors. We’ve seen tangible support in promoting indigenous products, which has been a game-changer for brands like ours. It’s about preserving our heritage while scaling up.
Looking ahead, I see a horizon filled with opportunities. The trend is clear – there’s a growing demand for authentic, natural products. We’re not just selling products; we’re part of a larger movement towards sustainability. The market is ripe for innovation, and for startups like Sadhev, it’s a chance to lead this change, both in India and globally.”
Fashioning Entrepreneurship in India
Dhruv Toshniwala, Founder of The Pant Project, discussing India’s startup ecosystem, said, “At The Pant Project, we’ve had the privilege of witnessing India’s remarkable strides in the startup ecosystem throughout our journey. Over the years, we’ve observed a significant surge in entrepreneurial spirit, fostering a vibrant and dynamic landscape. The government’s proactive measures, such as ‘Startup India’ and various policy reforms, have created a conducive environment for startups. These initiatives aim to simplify regulations, reduce bureaucratic hurdles, and provide financial incentives, fostering a more supportive ecosystem. Many startups in India are not only focused on profitability but also on creating positive social impact. This dual approach has led to the emergence of socially conscious businesses that strive to make a meaningful difference in society.”
Highlighting the Government’s role in accelerating growth in the fashion industry, Toshniwala said, “The Government’s emphasis on skill development and education has contributed to a skilled workforce. This, in turn, has enhanced productivity and efficiency within the industry, aligning with the nation’s broader economic goals. Investments in infrastructure, including logistics and transportation, have streamlined our supply chain operations. Government initiatives to promote international trade have opened up new avenues for our industry. Bilateral and multilateral trade agreements have facilitated smoother exports and imports, contributing to the overall growth of the sector.”
“The digital landscape is transforming the way consumers shop. E-commerce, social media, and technology-driven experiences are shaping consumer behaviour. The Pant Project is strategically investing in digital platforms to enhance our online presence and provide a seamless shopping experience. The fashion industry in India is evolving towards greater inclusivity and diversity,” added Toshniwala.
In India’s startup journey, different businesses are growing with new ideas. From finance to fashion, they show how innovation and help from the government make a strong future. This is the story of a changing and hopeful world of startups in India.
In recent years, advancements in technology have revolutionized the way we perceive transportation, giving rise to innovative solutions that offer unprecedented convenience and freedom. The introduction of self-driving car rental is one such innovative breakthrough that has completely changed our ideas about what it means to own and operate a vehicle.
With the rise in self-driving car rental, worries about fuel economy, insurance, breakdowns, and mileage have all been lifted. Imagine a world in which renting a car in any city is as easy as using a straightforward app on your phone, giving you the utmost freedom, privacy, and control when you’re on the road. Zoomcar, a ground-breaking platform that has revolutionized how people experience mobility, has made this vision a reality.
Established in 2013 by Greg Moran and David Back, Zoomcar has redefined urban mobility, offering driving convenience nationwide. With a user-friendly app, the platform simplifies the booking process, allowing users to effortlessly book a self-drive car for a seamless travel experience. Zoomcar eliminates the hassles of traditional car ownership, making travel more accessible and transforming the urban transportation landscape.
Read this article to know more about Zoomcar founders, business model, revenue model, growth, challenges faced, funding, and more.
Zoomcar, India’s leading car rental marketplace, pioneered personal mobility with car-sharing services in 2013, securing its position as the market leader. Zoomcar is dedicated to growing, transforming highways into open-air art galleries, and bringing the advantages of self-driving vehicles to additional communities. It sees mobility as an immersive experience that offers people unmatched autonomy, privacy, and freedom in the age of self-driving automobiles.
With a strong focus on the mobile experience, Zoomcar allows seamless car rentals by the hour, day, week, or month, eliminating worries about mileage, fuel costs, insurance, and breakdowns. Travelers can reserve a self-drive automobile in any location with ease thanks to the user-friendly software, which makes them feel at home wherever they go. Zoomcar has revolutionized driving convenience for tourists all across the country and is still growing quickly to satisfy the needs of urban mobility.
Zoomcar – How it Works
Zoomcar revolutionized the car rental industry in India in 2018 by launching the nation’s first peer-to-peer automobile marketplace and creating the sharedsubscription mobility model. With an amazing 90% market share as of August 2021, Zoomcar is leading the way in the digital revolution of the sector. Keyless entrance, complete sanitization, and digital customer assistance are just a few of the frictionless and secure experiences that the platform guarantees by utilizing cutting-edge technology like AI and IoT.
Zoomcar’s data-driven methodology, which uses vehicle monitoring and predictive analysis to determine driver scores based on variables like speed and distance, demonstrates the company’s dedication to innovation. This enhances customer safety, vehicle upkeep, and encourages cautious driving. Zoomcar is still influencing the self-drive mobility scene in India by prioritizing ease of use and security.
Travel with Zoomcar
Zoomcar – Industry
The car rental industry in India in 2023 was valued at $2.9 billion, with a projected growth to $3.8 billion, reflecting a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2023 to 2028.
This growth highlights the important part that automobile rental services play in providing for the wide range of mobility needs that customers have across the nation. A research analysis from Mordor Intelligence indicates that the market is expected to grow significantly because to factors like growing urbanization, consumers’ choice for quick and adaptable transportation options, and the continuous change in travel habits.
Zoomcar – Founders and Team
Zoomcar was founded by Greg Moran (co-founder and CEO) andDavid Back (co-founder and former President) in 2013.
Greg Moran, Co-Founder and CEO, and David Back, Co-Founder and Former President of Zoomcar (Left to Right)
Greg Moran
Greg Moran is the co-founder and CEO of Zoomcar. He is a seasoned professional with a history in international relations and finance. He graduated from the University of Pennsylvania with a BA in international relations and the USC Marshall School of Business with an MBA in finance and entrepreneurship.
Greg’s career includes jobs as an Analyst, Senior Analyst at Fieldstone Private Capital Group Ltd, followed by positions in financial analyst, business development at International Power America, Inc., and than Project Finance Consultant at Greg Moran Consulting.
David Back
David Back is the co-founder and former President of Zoomcar. The dynamic professional David Back graduated from the University of Pennsylvania with a BA in history. He then went on to Harvard Law School for his JD and the University of Cambridge for his MBA. Along the way, he has held positions as the Hydrogen Expedition’s Director of Government Relations, the Kauffman Foundation’s Researcher for the General Counsel’s Office, and a Summer Associate at Goldman Sachs and McKinsey & Company.
Beyond Zoomcar, after his exit in 2015, he has served as Entrepreneur In Residence at Idein Ventures, Chairman at Tattered Cover Book Store, Inc., Speaker at The London Speaker Bureau and than assumed the role at Icarus Ventures where he is Managing Partner.
Zoomcar has 201–500 employees, as per LinkedIn.
Zoomcar – Startup Story
David Back and Greg Moran met at the University of Pennsylvania’s hallways, which created the conditions for their business adventure. Greg got the concept in college—he’s always had a fascination for India. With a little cash and a great deal of guts, Greg relocated to Bangalore in 2012 to launch Zoomcar. Their goal was to make car rentals enjoyable and simple.
David assumed leadership roles as Zoomcar took off, but circumstances had other ideas. He chose to take a step back in 2012 in order to spend more time with his family. But don’t worry, Greg took the wheel. Having worked in clean technology, he founded Zoomcar with an emphasis on environmentally responsible transport. They were more than just car rental companies; they were revolutionizing transportation-related thinking.
The tale of Zoomcar is a great example of perseverance combined with environmental awareness. Greg’s passion for India and the founders’ aspiration to use tech-enabled ideas to better the world made Zoomcar remarkable. Now, Zoomcar looks out for the environment in addition to helping people rent automobiles. The Zoomcar journey goes on, snaking its way through the rapidly evolving narrative of India.
“The opportunities in India, I realized, would only be compounded over the years, and thus, it became imperative for me to be part of India’s growth story by introducing sustainable self-drive models that cater to the challenges in mobility at large”, says Greg Moran, CEO of Zoomcar.
Zoomcar – Mission and Vision
Mission: The mission of the company is simply stated on the company website: “We exist for a simple reason: we want to drive India’s transformation to sustainable transportation. Unlike other providers, Zoomcar is laser focused on creating self-drive solutions for the current mobility predicament. It’s still early days and while the road before us will certainly have many twists and turns, the sustainable light at the end of the tunnel is what motivates us day in, day out.
Vision:
“Our vision is to acquaint new-age customers with hassle-free car ownership. At Zoomcar, we have always empowered our customers with better mobility alternatives and will continue doing so at scale. This also positively affects the automobile industry as it eliminates the economic barrier to entry of various socioeconomic groups”, says Greg Moran, co-founder of Zoomcar, about the vision of the company.
Zoomcar – Name, Tagline, and Logo
Zoomcar Logo
The tagline of Zoomcar is Never Stop Living.
Zoomcar – Products and Services
The company offers a comprehensive suite of car rentals. From hatchbacks to sedans and premium vehicles, it offers users over 10,000 options as of 2020 to choose from at Zoomcar. These are made more attractive with exciting deals and promotions that the team comes up with on various occasions or long weekend breaks.
Zoomcar has also launched India’s first vehicle model agnostic Driver Score Tech Stack for the passenger car segment in October 2019. The AI-Powered algorithm with machine learning capabilities tracks the mechanical specs of the car being driven, the driving style of the customer, identifies critical events of driving and rates it on a scale of 0-100.
Over the past years, while Zoomcar has continued to rent out cars on an hourly basis, it has also brought in several changes. Today, one can have a car delivered to their location. It runs on a different business model, and the focus is on customers who want the freedom of having a car any time they require, for a longer duration.
“The only way we have been able to stay ahead of the curve is by keeping our laser-sharp focus on the vehicle rental space and business. Whether it is cars or two-wheelers, we believe that in personal mobility there is a shift from ownership. That will not move towards the taxi industry but more towards self-drive or rentals”, says Greg Moran.
Zoomcar – Market Share and Market Size
Zoomcar had 75% of the market share as of October 2021. In 2018, Zoomcar introduced India’s first peer-to-peer marketplace for cars with the launch of its shared subscription mobility model, and commands over 90% market share in this space as of August 2021. With the growth of the sharing economy across the globe, subscription-based car ownership is becoming an increasing trend.
The startup boasts of hitting a massive 15,000-car subscription run rate through its shared mobility platform as of September 2019. In the Electric Vehicles segment, the team has announced during end of 2020, its fleet of electric vehicles (EVs) has completed over 1 crore km. As of May 2023, Zoomcar boasted over 25,000 cars listed on its site by private vehicle owners.
Zoomcar – Business Model
Zoomcar has positioned itself competitively in the volatile shared mobility market by offering two resilient business models: long-term subscriptions and short-term rentals. Customers can readily choose hourly or daily prices for short-term needs; pricing is based on the type of vehicle selected.
Taking a bold step forward, Zoomcar transitioned to an asset-light, marketplace model, redefining its approach. With the help of this creative approach, people list their own vehicles on Zoomcar’s online marketplace with ease. With this proactive step, the firm hopes to quickly grow its fleet of vehicles across the country.
This move not only demonstrates Zoomcar’s dedication to sustainability, but it also represents a clever and successful move in the ever-changing shared mobility market. With this change in approach, Zoomcar is now positioned to compete in the market and demonstrate its flexibility and vision in responding to the evolving needs of consumers in the shared mobility area.
Zoomcar strategically maximizes its revenue through a multifaceted approach:
Flexible Packages: Zoomcar’s primary source of income is its provision of adaptable rental car packages. Clients can select packages based on how long they need a car—days or hours—so they just have to pay for the time they need it.
Varied Car Options: Since different cars have varied rental prices, the customer’s choice of automobile has an impact on revenue. With this tiered pricing structure, income is guaranteed to represent the wide range of client choices and preferences.
Advertising and Campaigns: Zoomcar aggressively advertises and runs campaigns to draw in a wide range of clients by promoting its services. The maintenance of visibility and competitiveness in the automobile rental market is contingent upon the implementation of strategic marketing initiatives.
Zoomcar – Challenges Faced
The personal mobility segment in India is fast growing and the co-founders saw it to be a segment that needed the most disruption, but the journey has most certainly has had its challenges. There is always a learning curve involved when one is introducing a new category. Car rentals were something that was truly unheard of when Zoomcar commenced its operations, said Greg Moran, who further continued,
“I remember how cumbersome a task it was to comply with regulations for number plates of the fleet, simply because of the unprecedented opportunity. It has been a learning experience to educate and sensitize the authorities and our customers alike, about the perks of car rentals”, when asked about the challenges faced.
To start car rentals, Zoomcar first had to get a license, but it could not get one. This was primarily because the Contract Carriage Permit needed them to have yellow board license plate vehicles. Zoomcar did not have a fleet and it needed to tie up with an owner of a fleet soon. By this time, the company had already raised seed funding and had tied up with several car makers. Greg had put in all his savings also, and it was suddenly a make-or-break situation.
The only way out was to work with an existing player that already had a license. At that point in time, there were five of those (in Bengaluru). Four rejected Zoomcar outright, and it was down to the wire as the founders met with Ramesh Tours and Travels. If that did not work, it meant going back to the US. Greg had one final meeting with Ramesh. They agreed on the terms and worked out a licensing agreement.
“I did not book a return ticket (to India) before the meeting. I went back to the US the next day, but I could come back and that was a relief. It was extremely nerve-wracking and very stressful because it would have been awful to return money to investors before starting a business”, recalls Greg about how Zoomcar was saved.
Zoomcar – Funding and Investors
Till now, Zoomcar has raised around $287.2 million across 24 funding rounds.
Here are some of the funding details of Zoomcar:
Date
Stage
Amount
Investors
February 22, 2023
Convertible Note
$21.3 million
–
October 20, 2022
Debt Financing
$10 million
Ananda Small Business Trust
October 19, 2022
Venture Round
–
–
November 9, 2021
Series E
$92 million
SternAegis
July 12, 2021
Series E
$17.6 million
SternAegis
May 12, 2021
Corporate Round
$5.5 million
–
March 11, 2021
Series E
$75 million
SternAegis
February 8, 2021
Venture Round
$4 million
–
January 20, 2020
Series D
$30 million
Sony Innovation Fund
December 3, 2019
Corporate Round
$4.8 million
–
September 17, 2019
Corporate Round
$1.9 million
–
Zoomcar – Growth
Zoomcar has experienced significant growth. Some of the growth highlights are:
Zoomcar operates in more than 50 cities globally (majorly in India) and has 3 million+ active users as per news report of January, 2024.
It is operating in three countries India, Indonesia, and Egypt, as per news report of December, 2023.
Zoomcar officially went public with the formation of Zoomcar Holdings, initiating trading on Nasdaq under the symbol ZCAR on December 29, 2023.
Company has covered 2 billion+ kilometers as of June, 2023.
It boasts more than 20,000 hosts and more than 5 million visitors as of June, 2023.
It has over 25,000 cars listed by individual vehicle owners on its platform as of May, 2023.
Zoomcar records average 60,000 rental transactions every month on its platform as of October 2022.
Financials
Zoomcar Financials
Zoomcar Financials
FY22
FY23
Operating Revenue
Rs 95 crore
Rs 69 crore
Total Expenses
Rs 359 crore
Rs 322 crore
Profit/Loss
Loss of Rs 74 crore
Loss of Rs 237 crore
Expenses
Zoomcar total expenses reduced to Rs 322 crore in FY23 from Rs 359 crore in FY22.
EBITDA
Zoomcar FY22-FY23
FY22
FY23
EBITDA Margin
-11%
-242%
ROCE
-41%
–
Expense/Rs of op revenue
Rs 3.78
Rs 4.67
Zoomcar – Advertisements and Social Media Campaigns
Zoomcar Campaign
Zoomcar campaign beautifully captures the warmth of the host-guest connection, aiming to enhance user understanding of the marketplace model. The campaign embodies Zoomcar’s ideals, from presenting a variety of cars and keyless entry to emphasizing the value of user reviews and enabling two-way contact. It also encourages aspiring business owners to host their vehicles on Zoomcar as a means of earning extra money, reaffirming the platform’s dedication to promoting both deep connections and entrepreneurial prospects.
Zoomcar – Advisors and Mentors
Mahindra has been a tremendous partner. Electric mobility was something they always wanted to push out and continue to develop over the next decades. This is a long game they are playing, and in that way, their long-term interests are very much aligned with Zoomcar.
“I think if you look at them they have certainly been visionaries in mobility in India and Anand Mahindra, hat’s off to him, especially because he was able to see out into the future way back when they started to partner more deeply with REVA, which they acquired way back in 2010. Mahindra was always a cornerstone”, says Greg about Mahindra.
Zoomcar – Awards and Achievements
The company has received several different awards including Top Place to Work, Top Brand Marketing Campaign, among others. Each year, it receives several marketing-related awards – CIDCA Award for excellence in Digital Advertising and Marketing, ACEF, Best ATL Campaign for a Cause award at the mCube 2019 etc.
Zoomcar – Competitors
Zoomcar has numerous competitors when it comes to its core business as a mobility service provider. Some of the Zoomcar competitors include:
Zoomcar envisions a robust future plan as it seeks to triple its current fleet size as it has over 25,000 cars listed by individual vehicle owners on its platform, aiming to host a minimum of 60,000 cars on its platform by the end of the calendar year 2023 as per news report of May, 2023. Zoomcar is committed to providing flexible and accessible transportation solutions to satisfy the increasing demand from individual vehicle owners, and this ambitious growth is a reflection of that dedication.
Zoomcar – FAQs
When was Zoomcar founded?
Zoomcar was founded by Greg Moran and David Back in 2013.
What is the operating revenue of Zoomcar?
Zoomcar operating revenues in FY23 were Rs 69 crore were in FY22 revenue was Rs 95 crore.
What is Driver Score Tech Stack?
Zoomcar launched India’s first vehicle model agnostic Driver Score Tech Stack for the passenger car segment. The AI-Powered algorithm with machine learning capabilities tracks the mechanical specs of the car being driven, the driving style of the customer, identifies critical events of driving and rates it on a scale of 0-100.
How many cars does Zoomcar own?
It has over 25,000 cars listed by individual vehicle owners on its platform as of May, 2023.
On this National Startup Day 2024, we embark on a journey through India’s startup landscape, capturing insights from industry pioneers. From HealthTech to MedTech, nutrition, and beyond, industry leaders share their perspectives on the Indian startup ecosystem. Explore the story of the startup ecosystem’s evolution, understand the pivotal role played by the Government, and explore the promising horizons that lie ahead for these industries.
Join us in celebrating National Startup Day as we delve into stories shaping India’s entrepreneurial journey—a roadmap crafted with determination, backed by government support, and painted with the promise of an exciting future.
Dr. Narendra Vankar,Founder and CEO of Quantum CorpHealth, sheds light on the transformative journey of health-tech in India, emphasizing the increased accessibility of healthcare for the population. “The health and startup industries have been revolutionized by introducing health-tech in India. As we progress further with technology, more and more healthcare startups have cropped up in the last ten years, making healthcare more accessible and easy to use for more of the population in India.”
The Government of India has been very pro-startup throughout. From various funding initiatives to incentives like intellectual property rights (IPR) support, patent cost reimbursement, and credit guarantee schemes, GOI has been a staunch supporter of the startup ecosystem, not only in health-tech but also in other industries as well.
Dr. Vankar highlights the significant role of government schemes like the National Health Mission and the Ayushman Bharat Scheme, saying, “Additionally, schemes and missions like the National Health Mission and the Ayushman Bharat Scheme both play huge parts in making healthcare easier and more accessible to India’s ailing and elderly population. Through improving the availability of medical equipment and supplies, they promote community participation and engagement in healthcare decision-making and service delivery.”
Looking ahead, Dr. Vankar expresses optimism about the future of healthcare in India. “The Indian healthcare system has made significant progress in recent years. With India also becoming a destination for medical tourism with its skilled doctors and advanced treatments, the healthcare industry in India is becoming a safe bet for investors and patients alike. We can be optimistic about the future of healthcare and medicine in India, considering the constant and continued investment in healthcare and innovation.”
MedTech Innovations: A Glimpse into the Innovation, Growth, and Future
Transitioning from the insights of health-tech, Mr. Pranav Bajaj, Co-Founder of Medulance, brings a crucial perspective from the Medtech and ambulance industry. “As advocates for advancing healthcare resilience, Medulance Healthcare eagerly anticipates the upcoming budget as a pivotal opportunity to fortify India’s emergency services.”
Mr. Bajaj emphasizes the crucial role of ambulances and the paramedic sector. “Recognizing the indispensable role of ambulances and the paramedic sector, we urge the government to prioritize strategic investments in these areas to improve response times and overall emergency medical care efficacy.”
A key expectation from Medulance is the revision of the GST structure for ambulance procurement. “Currently burdened with a 28% GST, we propose a significant reduction to 0%. This move not only alleviates financial constraints but also incentivizes the nationwide enhancement of emergency fleets, contributing to faster and more effective emergency response.”
Commending the government’s progressive stance, Mr. Bajaj underscores the importance of exempting consumers from GST on emergency services. “We commend the government’s progressive stance in exempting consumers from GST on emergency services, ensuring immediate medical attention remains accessible without additional financial burdens.”
Expressing a forward-looking perspective, he sees the upcoming budget as an investment in the health and safety of citizens. “Medulance Healthcare views this budget not just as a fiscal adjustment but as an investment in the health and safety of our citizens. We look forward to a budget that not only acknowledges the critical role of emergency services but actively contributes to their enhancement, reflecting a commitment to the well-being of the nation.”
Mr. Deepak Sharma, CEO and Co-founder of MedLern, shares his insights saying, “India has made significant strides in the startup ecosystem, emerging as one of the world’s most dynamic and vibrant environments for new businesses.”
Acknowledging the pivotal role of government initiatives, Mr. Sharma highlights the impact of ‘Startup India.’ “Government initiatives such as ‘Startup India’ have played a pivotal role in fostering a conducive environment and providing support through funding, mentorship, and policy reforms.”
Sharma delves into the various measures the Government of India has taken to support and accelerate the growth of the MedTech industry. “The National Health Policy outlined the government’s commitment to promoting the development and deployment of medical technologies. It emphasized the importance of innovation and technology in improving healthcare delivery. The National Digital Health Mission (NDHM) is another promising step that the Government took in the direction of fuelling MedTech’s growth.”
Discussing the promising trajectory, Mr. Sharma outlines key trends in the MedTech industry. “The MedTech industry in India is marked by several promising trends. Rapid advancements in healthcare technology, including diagnostics, imaging, and telemedicine, are expected to revolutionize patient care and treatment methodologies.”
He emphasizes the collaborative nature of the industry and the potential for cutting-edge solutions. “Collaborations between healthcare providers and technology companies are likely to foster the development of cutting-edge solutions.”
Anticipating future growth, Mr. Sharma sheds light on government initiatives promoting domestic manufacturing and research. “Government initiatives promoting domestic manufacturing, research, and development, such as the Medical Device Parks and the PLI (Production Linked Incentive) Scheme, are anticipated to boost local production, reduce dependency on imports, and enhance the industry’s competitiveness.”
Additionally, he discusses the role of technology, especially artificial intelligence and data analytics. “The integration of artificial intelligence and data analytics into medical devices is poised to improve diagnostic accuracy and patient outcomes.”
As the MedTech sector adapts to the changing landscape, Mr. Sharma recognizes the impact of the COVID-19 pandemic. “The COVID-19 pandemic has accelerated the adoption of digital health solutions, remote patient monitoring, and telehealth services, shaping the future landscape of the MedTech sector.”
He concludes by highlighting the conducive environment for innovation and market growth. “Regulatory reforms and a more streamlined approval process for medical devices contribute to a conducive environment for innovation and market growth.”
Dr. Chetan Savaliya, Director of Satvam Nutrition, provides a broader perspective on India’s startup ecosystem. He said, “During my journey the growth of startups in India has been fueled by supportive government policies, technological advancements, and a thriving entrepreneurial culture. I’ve seen a significant shift in the mindset towards entrepreneurship, with a growing acceptance of risk and a willingness to explore uncharted territories. The government’s initiatives like Startup India and Make in India, alongside digital infrastructure, have played a crucial role. There’s heightened global recognition of India as a hub for innovation, providing opportunities for economic growth.”
Further highlighting the Government of India’s pivotal role in fostering the growth of plant-based herbal products and natural industry through supportive initiatives, Savaliya noted, “Favorable policies and regulatory frameworks has provided a conducive environment for businesses in this sector. The introduction of schemes like the Ayush Mission and National Medicinal Plants Board has specifically targeted the promotion of herbal products, encouraging research and development.”
Sharing his perspective on the future growth of nutraceutical manufacturing, Savaliya said, “The future of nutraceutical manufacturing in India, particularly in the realm of plant-based herbal products and natural supplements, holds promising prospects driven by evolving consumer preferences and global health consciousness. With an increasing focus on holistic well-being, there is a growing demand for ethically sourced, sustainable, and plant-based solutions. This trend aligns with the rich biodiversity of India, offering a diverse range of herbs and botanicals with potential health benefits.
As consumers become more discerning about the origin and composition of their dietary supplements, the nutraceutical industry in India has an opportunity to leverage its traditional knowledge in herbal medicine and Ayurveda. Regulatory reforms have streamlined the nutraceutical approval process, making it more attractive for manufacturers to invest in India.”
“Strategic partnerships, investment in research and development, and adherence to stringent quality standards will be crucial for companies to stay competitive. Embracing technological advancements in extraction processes and sustainable packaging can further enhance the industry’s appeal. The future of nutraceutical manufacturing in India is poised for growth, provided industry players align with evolving consumer preferences, leverage indigenous knowledge, and invest in sustainable and innovative practices,” he added.
Shikha Agarwal, the Nutritionist, and Owner at Nurture, shares her insights in the healthcare domain. “In my startup journey, I’ve seen India’s dynamic progress fueled by heightened health awareness and government initiatives like National Poshan Maah.”
Highlighting the impact of schemes like National Poshan Maah, Agarwal notes, “These schemes have elevated public interest in nutrition, propelling growth in the healthcare industry.”
“Looking forward, the sector is primed for expansion, driven by a health-conscious populace. Emerging trends point to a surge in demand for personalized nutrition and digital health solutions, offering startups abundant opportunities in this evolving landscape.” Agarwal added.
Wellness in Focus: Paving the Way for Health and Wellness Startups
Shifting gears to the health and wellness domain, Jatan Bawa, Co-Founder of Perfora, emphasizes the crucial role startups play in India’s growth, “Startups are playing a very important role in driving growth for our country. Across different domains, there is a massive opportunity for startups to address problems for people in India.”
Reflecting on the pre-pandemic focus on convenience and the post-pandemic shift to health and wellness, Bawa acknowledges the government’s proactive role. “Pre-pandemic, there was a lot of focus on convenience enabled by technology; however, post-pandemic, the focus has been primarily on improving health & wellness.”
He outlines the government’s crucial role in accelerating growth saying, “The Government of India has played a crucial role in accelerating growth in our industry. Policies promoting ease of doing business, financial incentives, and initiatives like ‘Startup India’ have provided the necessary support.”
Looking forward, Bawa sees a promising future for the health and wellness industry. “Looking ahead, the future of our industry in India appears promising. With a continued focus on health and wellness, there are ample opportunities for startups to innovate and address evolving needs.”
Highlighting the importance of collaboration, Bawa emphasizes the role of startups, industry players, and the government in realizing the full potential of the dynamic landscape. “The government’s sustained commitment to fostering entrepreneurship, coupled with emerging technologies, positions the Indian startup ecosystem for robust growth. As we move forward, collaboration between startups, industry players, and the government will be pivotal in realizing the full potential of this dynamic landscape.”
Adding another perspective from Perfora, Tushar Khurana, Co-Founder, expresses optimism about the future. “A decade earlier it would have been impossible to start and build a startup in a seamless way as we are doing it now.”
He acknowledges the government’s super supportive stance towards startups and encourages a focus on adding value to the country. “The government has been super supportive concerning its policies related to startups, and I’m quite optimistic about the future as there are so many problems to solve. This is the decade of startups. For India, this is the decade of entrepreneurship, and I would strongly suggest people think about how they can add value to our country.”
“In the course of our startup journey, the evolution of India’s startup ecosystem has been truly transformative. A mere decade ago, the seamless initiation and growth we now experience with Perfora would have been deemed implausible. The government’s support, underscored by startup-friendly policies, has been instrumental in this paradigm shift,” Khurana added.
Concluding on a note of partnership and resilience, Khurana envisions a flourishing era for startups and entrepreneurship. “Moving forward, a continued partnership between the government and startups will be pivotal, cultivating an ecosystem where ideas can germinate and contribute substantially to the nation’s trajectory. Embracing setbacks, cherishing minor victories, and valuing the entrepreneurial journey will be the linchpin for shaping success in this dynamic era of Indian entrepreneurship.”
Mahenoor Mansuri
