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  • Startup India Campaign: Definition, Eligibility & Tax Exemptions

    The Startup India campaign, an initiative of the Government of India was first announced on August 15, 2015, by Prime Minister Narendra Modi during his Independence Day speech.

    The event was, then, inaugurated on January 16, 2016, by the former Finance Minister of India, the Late Arun Jaitley. Venture Capitalists, Startup Founders, and CEOs of various companies were recorded to attend the event.

    The action plan of this initiative primarily focused on three areas –

    • Simplification and Handholding
    • Funding Support and Incentives
    • Industry-Academia Partnership and Incubation

    Another primary action area of this initiative was to discard restrictive State Government policies applicable to this domain like License Raj, Land Permissions, Foreign Investment Proposals, and Environmental Clearances.  This was organized by The Department for Promotion of Industry and Internal Trade (DPI&IT).

    What is a Startup?
    Eligibility for Startup India Campaign
    Tax Exemptions Allowed Under Startup India Campaign

    What is a Startup?

    What is a Startup?
    What is a Startup?

    The Indian government defines a startup as an entity that is headquartered in India, has been operating for less than 10 years, and has an annual turnover of less than INR 100 crore (USD 13 million). The Indian government’s I-MADE program, under the Startup India initiative, aims to help Indian entrepreneurs build 10 lakh mobile app startups.  

    The second program is the Pradhan Mantri Mudra Yojana (MUDRA Bank’s Scheme) which aims to provide micro-finance and low-interest rate loans to business owners from low socio-economic backgrounds. In the year 2020, an initial capital of INR 20,000 crore (USD 3.0 billion) was allocated for this scheme.

    Eligibility for Startup India Campaign

    To be recognized as a startup under the Startup India action plan, a company must fulfill certain conditions –

    • Should be less than 10 years from the date of registration/incorporation.
    • Should be registered as a Private Limited Company, a Partnership Firm, or a Limited Liability Partnership.
    • Should have an annual turnover not exceeding INR 100 crore for any financial year since incorporation/registration.
    • Should be working towards innovation, development, or improvement of products, processes, or services.
    • Should be a scalable business with a high potential for employment generation or wealth creation.
    • Should not be formed by splitting up or reconstructing a business already in existence.

    Tax Exemptions Allowed Under Startup India Campaign

    Startup India Official Website
    Startup India Official Website

    To promote the growth of startups within the country, the Indian government has extended the following tax exemptions for eligible startups.

    Three-Year Tax Holiday in a Block of Seven Years

    All the startups that have been incorporated between April 1, 2016, and March 31, 2021, are eligible within this scheme which was extended to 31st March 2022 in the Budget of 2021. These startups will be eligible to receive a 100% tax rebate on profits for a period of three years in a block of seven years.

    The condition for receiving this benefit is that the annual turnover of the company should not exceed INR 25 crore in any financial year. The aim of this scheme is to help startups to meet their working capital requirements in the initial years of operation.

    Tax Exemption on Long-Term Capital Gains

    The Income Tax Act’s new section 54 EE specifies that the eligible startups will be exempt from taxes from long-term capital gains if such a long-term capital gain or a part of it is invested in a fund nominated by the central government within six months from the date of transfer of the asset.

    INR 50 lakh is the maximum amount that can be invested in the long-term specified asset for a specific period of 3 years. In the event the amount is withdrawn before the time frame of 3 years, the exemption will be revoked in the year that the money has been withdrawn.

    Tax Exemption on Investments Above the Fair Market Value

    Eligible startups are exempted from the tax levied on investments above their fair market value. These investments include investments made by resident angel investors, family, or funds that are not registered as venture capital funds.  Investments made by incubators above fair market value are also exempt from this tax.

    Tax Exemption to Individual / Huf on Investment of Long-Term Capital Gain in Equity Shares of Eligible Startups U/S 54 GB

    Section 54 GB allows tax exemption from long-term capital gains on the sale of residential property in case these gains are invested in small or medium enterprises as defined under the Micro, Small, and Medium Enterprises Act, 2006.

    However, this section has now been amended to include tax exemption on long-term capital gains if the money is invested in eligible startups and such shares are not sold or transferred within 5 years from the date of its acquisition. This exemption helps in boosting investments in startups and promotes their growth and expansion.

    Set Off of Carry Forward Losses and Capital Gains Allowed in Case of a Change in the Shareholding Pattern

    The government has relaxed the restriction of holding 51% of voting rights under section 79 in the case of eligible startups. The carry forward of losses is allowed if all the shareholders carrying voting power held the shares on the last day of the year in which the loss was incurred continue to hold the shares on the last day of the previous year in which the loss is to be carried forward.

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    Conclusion

    The Startup India Campaign announced by the Indian Government has also received considerable push and support through policy changes and introducing schemes that ensure the growth and expansion of startups. These tax benefits that are available to eligible startups provide encouragement to new business ideas and promote the economy of the country.

    FAQs

    What is the benefit of a Startup India Certificate?

    The startup India certificate is proof of a startup being recognized by DPIIT. It has multiple advantages such as tax benefits, easier compliance, IPR fast-tracking, etc.

    What is the tax exemption for startups?

    Under section 80-IAC, startups founded after April 2016 are eligible for a 100% tax rebate on making a profit for three years in a block of seven consecutive year period. Given the condition, their turnover should not exceed more than 25 crores in any financial year from the deduction claimed.

    What is the benefit of the startup India initiative?

    Some of the common benefits of startup India initiatives are relaxed norms, tax exemption, access to funding, cheap patent cost, easier compliance, IPR fast-tracking, etc.  

    How to get funds from the government for startup businesses in India?

    The Indian government has enabled a number of schemes for startups. In order to get funds from them through the government, one needs to apply tp the respective online portal and get registered as required on the website.  

  • People are reading the labels, the fine print, now more than ever- BlushBee Founders

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    The makeup industry refers to the production, distribution, and sales of cosmetic products for personal grooming and enhancement of physical appearance. It includes a wide range of products such as foundations, concealers, powders, lipsticks, mascaras, eye shadows, blushes, and many others.

    The online makeup industry in India has seen significant growth in recent years, with increasing numbers of consumers turning to e-commerce platforms to purchase cosmetics. The rise of social media, influencer marketing, and the convenience of online shopping have all contributed to this growth. In addition, the increasing purchasing power of Indian consumers, as well as a greater awareness of and interest in personal grooming, has also played a role.

    The compound annual growth rate (CAGR) of the makeup industry in India is expected to be around 15-20% from 2021 to 2026. This growth can be attributed to factors such as increasing disposable incomes, rising awareness of personal grooming and beauty, and the growing popularity of e-commerce.

    For this Interview, we invited Shobana and Navaneet, Founders of BlushBee, and we talked about the growth, challenges, insights, and future opportunities in the industry.

    StartupTalky: Shobana & Navaneet, what products does Blushbee sells? What was the motivation/ vision with which you started?

    Shobana: There were a lot of players in the skincare space, but negligible options in the cosmetics line when it came to conscious ingredients. We wanted to fill this void and provide something that’s not easily available. We started by creating new organic alternatives and formulations.

    Our first product was lipstick. It said that women on average consume nearly 2 kg of lipstick in their lifetime. So, we wanted to build an all-edible but chic formulation. We achieved that. Following this, we started to build products focusing on daily essentials.

    StartupTalky: What new products have you added in the past year? What is/are the USP/s of your products?

    Navaneet: We began the year with just three products and have since expanded to 10 categories with 64 unique SKUs. We started from scratch this year and have seen massive organic growth in our customer base.

    Our edge is that we have a consumer-first attitude. I was first a consumer and I wanted something like BlushBee. So, we as a brand have a consumer lens. BlushBee as a cosmetics line is a product of careful decisions in choosing what we want and in steering clear of what we didn’t want for ourselves as cosmetics consumers.

    The other advantage is that we are a beauty brand first, but with the huge advantage of being clean and green. This is an important factor in the value proposition. In addition to this is the affordable pricing. This was to align with our aim to make it effortless for people to switch from chemical-based to organic cosmetics.

    StartupTalky: How has the cosmetics industry changed in recent years and how has your company adapted to these changes?

    Shobana: Going green. Going organic.

    It is a viscerally growing trend. People are more conscious about what they put into and on themselves. They are reading the labels, the fine print, now more than ever. So brands have a very important pivot—move into clean, green beauty. I think it’s already happening with the demand. BlushBees’ growth is a testament to that.

    Navaneet: More conversations with fellow industry mates and lots of data analysis keep us in pace with the industry.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Navaneet: We use key data from our customers in terms of feedback, to keep improvising and growing, and also various sale-level pivots help us grow.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Navaneet: The value of inclusion cannot be taken for granted. Collaborations in Virtual Reality, Augmented Reality, and Other Technologies Consumers place a premium on individualized service and Beauty subscriptions.

    StartupTalky: One tip that you would like to share with another d2c founder?

    Navaneet: Be conscious. Be aware. Your consumers are going to be, most solutions are close to where you are: so go local, go indigenous. People expect to interact with conscious products so be the ones. On top of everything, add value.

    We thank Shobana and Navaneet for spending their valuable time and sharing their learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Mugdha Pradhan, Founder and CEO, iThrive, Pioneers a Functional Nutrition Approach to Tackle Chronic Health Issues

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    The nutritional supplements industry was valued at USD 151.9 billion in 2021 and is expected to grow at a CAGR of 8.9% between 2022 and 2030.  The driving factor for the growth of this industry is the increasing awareness towards personal health and wellbeing.  

    Many businesses within the industry are centered around promoting healthy living through functional nutrition and dietary supplements.  

    For this Interview, we invited Mugdha Pradhan, founder & CEO, iThrive, and we talked about the growth, challenges, insights, and future opportunities in the Health and Wellness industry.

    StartupTalky: Mugdha, what service does your company provide? What was the motivation/vision with which you started?

    Mugdha: We are a healthcare company based on the principles of functional nutrition and we provide multiple services:

    Health and nutrition consultation and therapy: We provide a one-time consultation where we analyze the individual’s blood tests and do a root cause analysis. Our primary product, the ALIVE program is a 3-month health transformation program where the client is guided full-time by a nutritionist and health coach.

    Functional Nutrition course: Our education vertical, iThrive Academy offers India’s only functional nutrition course. It is a 4-month course.

    Supplements: Our supplements line, iThrive Essentials consists of supplements
    formulated in-house by our R&D team.

    iThrive’s vision- “We create healthier, happier, lifestyle-disease-free communities across the world every single day” guides all our work.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of your service?

    Mugdha: Our supplements line, iThrive Essentials, recently completed one year this November. iThrive supplements are formulated in-house by our R&D team and are at par with the top international brands but at an affordable price suitable for the Indian market. iThrive Evolve, our sports nutrition program was rolled out very recently. This is targeted at athletes, looking to utilize the power of functional nutrition and cutting-edge modern medical science to maximize their performance.

    StartupTalky: How has the health and wellness industry changed in recent years, and how has your company adapted to these changes?

    Mugdha: Conventional medicine is dreadfully inept at curing people of chronic lifestyle diseases, instead just focusing on suppressing the symptoms with drugs. More and more people are starting to realize this and as a result, good evidence-based alternative medicine practices such as functional nutrition and integrative medicine that focus on holistic health are getting more and more popular. The alternative health and wellness industry is estimated to be 4.2 Trillion USD.

    iThrive is India’s leading functional nutrition platform. We ourselves are the change that the industry is witnessing. Functional medicine has often been described as the future of medicine.

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    Mugdha: We have an extensive R&D department that updates our treatment protocols and course curriculum every single week. The team keeps itself informed through various resources like published papers and podcasts and articles put out by leading functional medicine practitioners globally.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Mugdha: We keep track of our clinical data thoroughly including the number of clients enrolled, the number of successfully healed, the number of successful reversals of specific medical conditions, etc.

    We also track our revenue and finances intricately. The performance of individual employees and teams in the organization is tracked via key performance indicators(KPIs) that are determined based on the role.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Mugdha: Our company has scaled up quite significantly in the past year, especially in terms of our workforce. A lot of things that were previously done very informally could not be continued in the same way. We introduced a proper hierarchical structure in the organization with defined teams. Additionally, all of our data including client data and other internal company data has been properly organized with additional security measures added.

    All of this has optimized our workflow and increased efficiency. It also sets us to scale up further more easily.

    StartupTalky: Good service, is something everyone is talking about in the service industry. How do you ensure that your clients are happy?

    Mugdha: Client satisfaction is our topmost priority. We have separate roles in the organization to specifically, focus on client services. When clients enroll for our program they are assigned both a nutritionist and a health coach who is available for support round the clock both through calling and via text.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Mugdha: The biggest strategy we use is to create brand awareness. iThrive is a pioneer of Functional Nutrition in India. The term Functional Nutrition in itself is a novel concept that has only recently reached India but it’s a method we have been following for a long time.

    In order to market this we have been using social media to create awareness. We have three main verticals we market in a similar manner by posting reels, posts, and advertisements. We also conduct webinars monthly to educate people and build trust among our audience.

    The recent new marketing strategy we used was to create a campaign around Diwali. It was one of our biggest projects. We had a 60-second advertisement around it, social media promotions, PR, and more. The campaign gained great traction. And it paid off really well. We gained a lot of recognition.

    StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?

    Mugdha: We have had our fair share of foreign clients. Our vision is to create healthier, happier, lifestyle-disease-free communities across the world every single day. So like many service brands we do target foreign audiences but we do not focus on them majorly.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Mugdha: We use many different tools to make our work easier. One such tool is Height, a project management tool that we use to keep track of all ongoing projects across all three verticals and the myriad of platforms we market on. Each department like the design team, the content team, the production team, etc has its own set of tools, specific to its niche.

    Our design team uses Figma to make everything right from social media posts to websites. Also, our nutrition team uses Trello to consolidate clients’ documentation. And of course, we use many features that google provides like Google Docs, Google Sheets, Google Meet, etc.

    StartupTalky: What opportunities do you see for future growth in the health and wellness industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Mugdha: Functional Nutrition, though a novel concept has been gaining popularity as it fills a major gap- evidence-based practices in alternative healthcare. And as a pioneer, we see a graph that increases exponentially. Especially with the next round of funding just around the corner, we have projected iThrive to become a household name.

    Just in India, we have projected revenue of $14 M in the next 5 years. Globally, we
    have clients from UAE, the USA, Australia, and Pakistan.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Mugdha: Since last year our team has grown 3x. What the initial team learned was that manifesting does work. We understood how important was it to be true to our morals and culture. It was very important that how much ever big our team grows, we need to keep our culture intact.

    StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?

    Mugdha: We are working towards expanding our customer base globally. Our current global client base is mostly referral clients but we are looking forward to marketing iThrive and its subsidiaries across the globe. Especially Australia, UAE, and USA.

    As far as our services go, we have three verticals, iThrive ALIVE, our parent company that focuses on the reversal and prevention of chronic lifestyle diseases, iThrive Academy, our teaching platform, and iThrive Essentials, our supplements vertical.

    iThrive ALIVE itself has different programs that the client can choose from as per their requirements. Other than these, we just recently rolled out our sports nutrition vertical, iThrive Evolve.

    In the last year, we have increased our team from 20 employees to almost 60
    employees and are expecting to hire more. With the company growing exponentially the need for more resources has increased.

    StartupTalky: One tip that you would like to share with another Service company founder?

    Mugdha: Be true to your vision and surround yourself with people who can help you achieve it. You do not have to do everything by yourself. Hire experts who can help you in areas you are not proficient in. And always look for people, especially your core members, who challenge you. Nothing drives you to become better than someone who can challenge you.

    We thank Mugdha Pradhan for spending her valuable time and sharing her learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Piyush Sahni, Co-founder, Green Grapes Diagnostics, Transforming Healthcare With Cutting-Edge Solutions

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Rapid diagnostic tests are medical tests that can quickly and accurately diagnose a disease or condition in a patient. These tests are designed to provide results within a short period of time, usually within minutes to a few hours, and are often used in point-of-care settings such as clinics, hospitals, and emergency departments. Rapid diagnostic tests can be used to detect a wide range of conditions, including infectious diseases, cancer, and other medical conditions.

    According to a report by MarketsandMarkets, the global rapid diagnostic test market is projected to have a CAGR of 8.5% during the forecast period of 2020 to 2025. Factors driving the growth of this market include the increasing prevalence of infectious diseases, the growing focus on point-of-care testing, and advancements in technology.

    However, it’s important to note that the COVID-19 pandemic has also had a significant impact on the market for rapid diagnostic tests, as the demand for these tests has increased significantly in recent months. This has led to a higher growth rate for the market.

    For this Interview, we invited Piyush Sahni, Co-founder of Green Grapes Diagnostics, and we talked about the growth, challenges, insights, and future opportunities in the Healthcare and Pharmaceutical industry.

    StartupTalky: Piyush, what was the motivation/vision with which you started? What products does your company sell?

    Piyush: The harrowing time of the pandemic in 2020 presented us with several challenges. When everything that my wife and I had built in our previous immersive digital display solutions business called, ‘Green Grapes Devices’ came to a halt, due to the pandemic, we were looking for industries to switch and maneuver. Taking feedback and other suggestions, we quickly developed ‘UV Sterilization boxes’ to oscillate to the healthcare industry as the propeller of the need of the hour.

    The intention of developing this product was to sanitize smaller articles of metal, iron, and other material (which could carry the virus) in under just 3 minutes. The forthcoming response got us media attention which eventually nudged us into dealing and serving the industry with distinguished surgical and diagnostic products such as IV sets, CPAP Machines, and Hematology Analyzer Machines. As an extension to our earlier business, we named this startup Green Grapes Diagnostics.

    Our progressive and forward-looking approach aided us to accelerate and rapidly transform into a leading comprehensive solutions provider of not just surgical and diagnostic products but also look at catering to the pharmaceutical and nutraceutical demands within a few months of operations. This resulted in expanding and establishing synergies with exceptional manufacturers and hospitals in India and across the globe. Within a shorter time, we dilated from serving customers in India to customers in the USA, Africa, Singapore, Thailand, Indonesia, Philippines, UAE, and other Middle Eastern Countries.

    We have over 1500 products across categories; however, we are ecstatic to announce the launch of our indigenous Rapid Diagnostic Tests or RDTs which are easy-to-use test kits that provide quicker and faster results; usually under 5-mins for most tests. Manufactured and marketed under our brand name, we have developed testing kits to detect 18+ conditions/diseases such as HIV, Malaria, Dengue, Typhoid, and Pregnancy. Our medical kits have become a popular choice amongst the existing brands in the industry and we are already exporting them to countries such as Africa, UAE, the Philippines, and Indonesia.

    We are also working towards our new mobile application-based Vitamin D Home Test Kits which will hit the markets in 2023. It has been just under 30 months since we started our operations, and we have been profitable since day one. This has allowed us to leave an indelible mark in India and expand our footprint globally.

    StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?

    Piyush: This year, the latest addition to our product portfolio has been our indigenous Rapid Diagnostic Test Kits which are manufactured and marketed under our brand name.

    Rapid Diagnostic Kits are a game-changing solution developed for the screening of several conditions and diseases. The results produced are rapid and accurate. Our test kits are manufactured as per industry standards and per all the necessary compliance outlined by the Government of India.

    Even for next year, we are prepared to incrementally increase our testing kit catalog. Rapid Diagnostic Testing Kits to perform Kidney Function Tests AKA KFT along with our mobile application-based Vitamin D Home Test Kits are some of the newer inventions that will be launched in 2023.

    With more than 18+ categories of conditions to examine, our test kits have been developed using state-of-the-art technology which allows us to provide exceptional standards of quality and assurance to our clients. Our unbelievable price range, customized approach, and distinguished product catalog let organizations choose at their own comfort/preference.

    StartupTalky: How has the healthcare and pharmaceutical industry changed in recent years, and how has your company adapted to these changes?

    Piyush: The healthcare industry has always been at the center stage, especially in the last two years. The disruption that the pandemic has caused is astonishing and noteworthy at the same time. Technology-enabled solutions and advancements to the existing infrastructure have aided in generating jobs and in the past 1.5 years alone, the industry has witnessed a growth from $220 billion to $280 billion.

    As one of the strongest pillars of growth in our country, the healthcare and pharmaceutical industry has observed tremendous changes which continue to foster development and increased opportunities. The dynamism of the sector has allowed us to mold our products and make use of technological advancements at
    different intervals.

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    Piyush: At Green Grapes Diagnostics, we keep ourselves abreast with the changes and trends by continuously following updates from central agencies, regulatory bodies, etc., and using those to our benefit to develop the highest quality medical test kits. Our feedback loop with our partners, clients, and other stakeholders
    assists us to keep modifying and updating our products from time to time. Additionally, we keep applying technological advancements to our benefit at every given step to automate and ease the process of production.

    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Piyush: We make use of software which have been developed by startups in India to track our growth not just in terms of the number of clients but also in respect of products added, employee retention rate, etc. This helps us to view our growth holistically. Additionally, we track the number of new clients that we add every single month and the business that we have been able to generate from them. We also follow M-o-M & Y-o-Y percentage growth to learn of opportunity costs, gaps, strategy, etc.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Piyush: Back when we had set up operations in India and stepped into the healthcare industry, we were presented with challenges that every company faces. Winning businesses and clients’ trust have to be my top two challenges in India as well as abroad. Our strategy to secure anyone’s trust in us was achieved with the quality assurance of our products, the use of modern technologies to track shipments, and guaranteed timely delivery.

    After a few months into the business, we realized that the technological aspect, especially in the Rapid Diagnostic industry was missing. So, we actioned on the need gap to produce exceptional standards of Rapid Diagnostic Kits.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Piyush: Since the inception of our startup, we regularly change and continuously update our marketing strategies to stay relevant and attract maximum eyeballs for our products. Given the nature of our industry and the type of products we manufacture, we have tie-ups with several online marketplaces. We also undertake
    lead-generation campaigns and activities using automated tools to generate high-quality and standard leads.

    Additionally, analyzing the market sentiment, positioning our brand, and making use of digital and social media tools have helped us to increase our brand’s voice. In the last few months, we have gauged several digital resources such as content marketing, email marketing, and a combination of other techniques to succeed in our marketing endeavors.

    StartupTalky: What important tools and software do you use to run your business smoothly?

    Piyush: We have used multiple automated and software tools to efficiently smoothen the process. Initially, we used Zoho for email marketing then opted for HubSpot’s CRM software along with other tools. Currently, we are using a combination of Google’s resources for accounts-related services. We also make use of other startup software that helps us in generating leads for international business.

    StartupTalky: What opportunities do you see for future growth in the healthcare and pharmaceutical industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Piyush: Since the onset of the pandemic, the healthcare industry has undergone several noteworthy changes. The pitfalls and gaps presented the industry with several challenges during the peak of the covid, however, despite those challenges, there were opportunities. I, personally feel, that the use of technology and a combination of creativity with it will be a game-changer for the future and it still is. Organizations and several industry leaders from different cities in India have already made amendments to their agendas and have started working on them.
    India is already known as the pharmacy of the world; therefore, this is the golden opportunity for startups, businesses, and the government to revolutionize the healthcare and pharma sectors completely.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?

    Piyush: In the last 10-11 months, I and our team have realized that it’s important to be resilient and adaptive to changes. When an organization or an individual has these traits, they can withstand any situation they may encounter. In 2023, we are committed to incorporating all possible learning that we have had this year into our plans to grow and lead.

    StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?

    Piyush: There are significant changes and agendas for us in 2023. Firstly, we aim to increase our global footprint by partnering with additional online B2B marketplaces that will open floodgates for us in other countries. Secondly, next year, we will invest substantially in the technological and marketing front to establish our digital footprint which has a direct correlation with expanding our customer base.

    We thank Piyush Sahni for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Akanksha Sharma, CEO and Co-founder, CITTA, Brings Indian Childcare Wisdom and Science Together for Modern Parents

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Baby care products are items that are used to care for and support the needs of infants. These products can include items such as diapers, wipes, formula, baby food, baby bottles, baby clothing, baby bedding, and baby hygiene products.

    These cosmetics are formulated to be gentle and safe for a child’s delicate skin and hair and are free of harsh chemicals and irritants. They are also designed to be tear-free, which is important for young children who may have a tendency to rub their eyes.

    According to a report by Research and Markets, the global baby care products market is expected to grow at a CAGR of 6.8% from 2020 to 2025. The market is driven by factors such as increasing birth rates, rising disposable income, and growing awareness about child health and nutrition, and it is expected to grow due to increasing awareness about the benefits of using baby-specific personal care products.

    For this Interview, we invited Akanksha Sharma, CEO and Co-founder of CITTA World, and we talked about the growth, challenges, insights, and future opportunities in the Baby Care & Skincare industry.

    StartupTalky: Akanksha, what products does your company sell? What was the motivation/vision with which you started?

    Akanksha: Our product range includes premium natural skincare and bath essentials for babies– Moisturizing Baby Balm For Face and Body, Nourishing Baby Massage Oil, Tender Foaming Baby Wash, Gentle Foaming Baby Shampoo, and Soothing Talc-Free Baby Powder. We have also launched our natural face mists – Pure Rose Water Mist and Hydrating Mist with Rose and Aloe Vera – for adults.

    CITTA World was started with the vision of blending Indian childcare wisdom with rigorous science and making it conveniently accessible to modern new parents. We as a founder are a testament to the special connection between a mother and a child.

    At CITTA, we believe that every child deserves to feel the endless love of a
    grandmother. While Akanksha had the wholesome, grounding experience of being cared for by her grandmothers, not every child today has that privilege. CITTA’s goal is to provide babies with that nourishing experience so that maybe one day, they remember the fragrance of CITTA just as fondly as she reminisces the aroma of her grandma’s hands.

    StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?

    Akanksha: Our products are made with the finest natural ingredients in innovative formulations to provide maximum efficacy to the customers. Whether it is the most effective texture or the most convenient technology, we have created all our products after rigorous research to serve our customers in the best way possible. Our products are also cruelty-free and free of harsh chemicals like parabens, sulfates, silicones, mineral oil, toxins, and allergens.

    Following are the USPs of our products:

    Moisturizing Baby Balm:

    • Blend of 7 natural oils, Shea Butter and Vitamin-E
    • Unique thick texture for long-lasting moisturization
    • All-in-one balm for use on the face, body, and nappy area of the baby
    • Prevents rashes and itchiness through anti-microbial ingredients

    Nourishing Baby Massage Oil:

    • A unique blend of 12 natural oils
    • Provides deep nourishment
    • Non-sticky texture
    • Anti-microbial & Anti-inflammatory
    • Promotes growth and bone strength

    Soothing Talc-Free Baby Powder:

    • Made with the safest natural alternatives of talc – Corn Starch, Oat Kernel Flour, Kaolin Clay
    • Naturally absorbs excess moisture and oil
    • Soothes your baby’s skin
    • Prevents rashes and itchiness

    Gentle Foaming Baby Shampoo:

    • Gently cleanses, hydrates, and moisturizes your baby’s scalp and hair
    • Enriched with 3 natural oils
    • Non-drying, no-tears formula
    • India’s 1st Natural Foaming Baby Shampoo

    Tender Foaming Baby Wash:

    • Gently cleanses, hydrates, and nourishes your baby’s skin
    • Infused with Aloe Vera, Coconut Powder Extract, and Hydrolysed Rice Protein
    • Prevents dryness and irritation
    • India’s 1st Natural Foaming Baby Wash

    StartupTalky: How has the baby care and skincare industry changed in recent years, and how has your company adapted to these changes?

    Akanksha: In recent years, customer awareness of the ingredients in personal care and skin care products has increased tremendously. Especially ingredients such as talc in baby powder, which have severe detrimental effects on babies’ health. Fortunately, our company has been able to leverage this to our advantage – since CITTA has focused on creating the safest products from the start. With this rise in awareness, people are discovering our brand organically and then choosing us consciously.

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    StartupTalky: Repeat purchase is one of the most important parameters on which most e-Commerce brands are betting. How do you keep your customer engaged to stop churn?

    Akanksha: CITTA’s products are currently available on 6 online marketplaces – Amazon, Flipkart, 1mg, The Mom Store, Kindlife, and Purplle. With these marketplaces, we have sold our products throughout India, including 2nd and 3rd Tier cities as well. 25% of customers who order our products from online marketplaces are return customers.

    The efficacy of our products and their unique ingredients are our biggest strengths. Recently, when an internationally reputed brand’s baby powder was deemed unsafe by multiple authorities, people started looking for safer alternatives and discovered our product which is made with the safest natural alternatives of talc and has a soothing effect on the baby’s skin– CITTA Soothing Talc-Free Baby Powder. Our baby powder has been selling rapidly to date. So much so, that it has even run out of stock twice. We have been able to retain 30% of the customers who order our products from our website.

    We are a customer-centric brand and the biggest performance metric for us is the number of repeat customers we have. We have already achieved considerable success in this regard, and we are sure that in the coming years, as more and more people start trusting us, this number will only continue to grow.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Akanksha: CITTA has been employing omnichannel marketing from the start, unlike many other brands that begin with an online-only user experience and expand to offline channels later. We wanted our users to have the choice of interacting with the brand in the way most convenient to them, and our online and offline teams have worked together to achieve that.

    With our offline marketing strategies, our products have reached multiple pharmacies in Pune city. To attract the right customers and make them aware of the brand, we focused on placing our offline advertisements where they could see them – the pharmacies!

    The advertisements were designed to highlight our brand differentiators – unique, safe natural ingredients and product formulations rooted in traditional Indian wisdom and backed with rigorous science. With these campaigns, the customers could directly compare our products with our competitors in the market. This not only boosted our offline sales but also generated curiosity about the brand, leading to traffic to our website.

    Newspaper advertisements helped us to build this customer relationship more and reach a wider audience.  An essential part of our offline strategy was to build trust with doctors – pediatricians and dermatologists. They have started recommending our products to their patients. This number is steadily increasing and is helping us reach more and more physical stores in turn. It has been reassuring to see our products help babies with their skincare issues.

    Our online marketing strategy has been multi-pronged as well. Here too our focus has been on establishing ourselves as a credible and trustworthy premium natural baby bath and skincare brand in India. We achieved this firstly by creating a brand language and identity that visually separates us from the competitors and has a great recall value. This brand identity is maintained throughout all our online channels – website, social media, and marketplaces – and has helped us cement the trust of our customers.

    With our website, we have created a smooth, hassle-free buying experience. Our focus has been on ease of communication. Any customer service issues are dealt with promptly and effectively. We provide our repeat buyers exclusive offers to retain them. The website is also aimed at helping parents with their concerns regarding baby skincare, we have a dedicated space on the website that caters to this. Our social media marketing strategies are also focused on bringing value-addition to our customers – in line with our brand ethos of being a wise grandma-like companion to new-age parents. We achieve this through a mix of
    engaging, community-building, promotional, and informational content. To us, bringing value to the table matters more than jumping on the flashy, short-lived trends.

    Our online marketplace campaigns have been designed similarly, and as a cumulative result of our omnichannel strategy, have been getting traction from customers all across India. We have also tapped into WhatsApp marketing. We run WhatsApp broadcasts weekly to our existing customers with skincare tips and exclusive one-day deals.

    StartupTalky: What opportunities do you see for future growth in the baby care and skincare industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Akanksha: Expansion to other states- Modern Trade and General Trade

    With an omnichannel marketing strategy, CITTA has been able to get sales from Tier I, II, and III cities and reach 300 general trade stores in Maharashtra. Now we plan to expand to other states in India in both Modern Trade and General Trade sectors and establish ourselves as India’s best Baby Bath and Skincare brand.

    Reaching doctors across India

    Educating doctors about our products and the research undertaken to create them has been crucial to building people’s trust in our brand and creating demand for our products in offline stores. We want to expand our network to reach leading doctors (pediatricians and dermatologists) across India and become the brand every parent trusts for their baby’s skin.

    Entering the international market as a pioneer of Indian skincare and baby care knowledge and techniques

    We strongly believe that we are sitting on a goldmine of diverse natural ingredients and immense tradition-based expertise in India. Especially so when it comes to skincare and baby care practices. What the rest of the world is only starting to appreciate and emulate, we have been practicing in India for ages – “maalish” or baby massage is a classic example. We want to champion our Indian roots, back them with rigorous science, and bring India’s knowledge to the rest of the world with our range of our products. We want to create our own identity and presence in the international market as a pioneer Indian brand in the baby care and skincare segment.

    Exploring products for women

    CITTA products have resonated with our customers because of their high efficacy. We have received positive feedback from numerous mothers. We want to build on this trust and explore products for women in the coming years. With our commitment to quality and efficacy, we are confident that we will be able to do this well.

    Opening up experiential stores

    In the coming years, we aim to open experiential CITTA stores at multiple locations in India. These stores will be designed such that our potential customers can see, touch, smell, and feel the textures of our products. They will be educated about every ingredient that goes into our unique product formulations in an engaging, fun way so that they can remember it. We believe these experiential stores will help us to establish ourselves as customer-centric premium skincare and baby care brand.

    StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?

    Akanksha: We plan to expand our customer base by reaching more states through physical stores as well as online marketplaces. We are also finding new ways of engaging meaningfully with our customer community – CITTA Care Club is a step towards that. Through this non-profit initiative of ours which is focused on parents’ well-being, we get to interact with parents – our potential customers – and understand their concerns in real time.

    We thank Akanksha for spending her valuable time and sharing her learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Things to Remember Before Purchasing Products From AliExpress

    We all love to buy from online portals and set ourselves free from the hassle of visiting brick-and-mortar stores for shopping. According to a report, the number of online shoppers will surpass 500 million by 2030 in India. Although buying online has its perks, however there are certain limitations too one needs to consider before purchasing from e-commerce websites. With the availability of inter-country payment gateways, it is now possible to buy products from any country without payment-related problems. Did you know most of the online products sold in India are imported from China?

    One such e-commerce website which makes up for the bulk of products imported from China is AliExpress. Before you get too excited to drop-ship from this portal, you need to be aware of the rules and regulations before buying from AliExpress to ensure a smooth and satisfactory shopping experience, one of the largest e-commerce websites in China that offers a wide range of products at affordable prices. It is owned by Jack Ma. Jack Ma which is a famous business tycoon and his rags-to-riches backstory provides invaluable motivation.

    This post will tell you everything about how to buy products from AliExpress while sitting in India. The impact of AliExpress in the Indian market shall also be covered. Indians have a mixed response towards AliExpress. Some find it highly useful, whereas others have had an unsatisfactory experience with the e-commerce portal. Whether you’re a seasoned shopper or a first-time buyer, this blog will provide valuable insights to help you make informed purchases on AliExpress. So, let’s get started.

    Things To Keep In Mind Before Making A Purchase From AliExpress

    Slow Delivery

    Slow Delivery - AliExpress
    Slow Delivery – AliExpress

    AliExpress isn’t an India-based shopping website which means certain import rules are applied every time you buy products from AliExpress. The normal time to ship products from AliExpress is 30 days and it may increase based on government regulations. AliExpress provides you with a tracking ID to trace the location of your product; other than that, you can’t do anything else but wait. If your delivery gets stuck somewhere, you are in for a really long wait. The shopping website uses Chinese delivery companies for product disposal and items tend to get misplaced enroute to you. If you have selected the free shipping option, you may receive your item after months.

    However, AliExpress has identified these issues and is working on improving its delivery network. It is integrating fast and quality-driven delivery partners into the network to boost sales and enhance customer experience.

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    Import License

    You need a trade license and a registered shop establishment if you plan to buy from AliExpress and sell in India. You also need an export-import license. And then there is the job of reaching out to a customs clearance agent. Licensing is one of the biggest obstacles when it comes to buying items from AliExpress and selling them in India.

    Buying from AliExpress is completely Legal

    It is totally legal to buy from AliExpress and trade products in India. Your purchases should not cross INR 10,000 per year and the products should be for personal use. If you want to purchase products in bulk, you need to get yourself registered, obtain an import-export license, and pay taxes and duties.

    If you have any queries such as the loss of your products in the course of delivery, your only option is to contact the AliExpress agent through chat support. You cannot contact AliExpress sellers by a call; chat is the only medium and there is a high chance the seller won’t reply. Hence, you need to be mindful of the possible delays, lost deliveries, and other factors before ordering from AliExpress.

    How to buy safely from AliExpress

    AliExpress Rules

    There are some other rules and regulations you need to know before making a purchase from AliExpress. For example, you need to pay around 30% of the total amount in customs and duty charges.

    Without import/export license

    • The maximum amount of order without customs duty is INR 2000, i.e, you can import only up to this limit without customs duty and that too for personal use.
    • If the order amount is above INR 2000, the package gets retained at the customs office.

    You will then have to prove/convince the customs officer that the items are meant for personal use and pay the customs duty to get your package out of there.

    With import/export license

    With the license, you can import goods of higher value and pay the standard customs duty on the product as per Indian customs regulations.

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    Is AliExpress Available in India?

    Currently, AliExpress is not available in India and is not delivering here as well. After the India and China situation, the Government banned many Chinese mobile apps in 2020, amongst AliExpress is one of them. Therefore, AliExpress is not available in India.

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    Is It Safe to Buy From AliExpress Now?

    It is definitely safe to buy from AliExpress now as it is owned by one of the most popular and well-known multinational companies Alibaba. The reputation of Alibaba makes AliExpress a reputable company to shop from.

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    Conclusion

    You can set up a successful business in India using AliExpress. But unfortunately, the shopping website got banned in India along with more Chinese apps for engaging in activities that are prejudicial to the sovereignty, integrity and security of the country. The government had banned 59 apps on June 29, 2020, and on September 2 it had banned 118 more apps including AliExpress. Previously apps like TikTok, Bigo Live, PUBG Mobile, which were all very popular in India, were banned.

    FAQs

    What is AliExpress?

    AliExpress is an online shopping website based in China owned by the Alibaba Group. It is an online store to buy products at much cheaper rates than Amazon.

    Is AliExpress from China?

    Yes, AliExpress is a China-based online shopping retail store for buying products at much cheaper rates.

    How to buy from AliExpress in India?

    • If you want to purchase products for personal use, your purchases should not cross INR 10,000 per year.
    • If you want to purchase products in bulk, you need to get yourself registered, obtain an import-export license, and pay taxes and duties.

    Is AliExpress banned in India?

    Yes, AliExpress is banned in India.

    Why AliExpress is banned in india?

    AliExpress is banned in India along with more Chinese apps for engaging in activities ‘prejudicial to the sovereignty, integrity and security of the country’

    How to buy from AliExpress in India after ban?

    This is the top trending question on Google with no clear-cut answer. However, Indian users of AliExpress were able to purchase products “unofficially” from AliExpress vendors. All you need is to change your route, consider using a VPN on your mobile devices or laptops, or partner with Oye Express. This is the perfect way to enjoy the ease of shopping online while keeping your data secure.

    What’s the difference between Alibaba and AliExpress?

    • Both the platforms are sister companies owned by Alibaba Group.
    • Alibaba focuses on the B2B marketplace while AliExpress focuses on the B2C marketplace cross-border.
    • Usually, manufacturers, wholesalers, trading companies and exporters sell their products via Alibaba whereas, in AliExpress, the typical seller is retailers.
    • Prices can be negotiated in Alibaba whereas AliExpress offers fixed-rate products.
    • On Alibaba.com sellers have to pay 0% on most transactions when it comes to the commission while AliExpress sellers pay up to 8%.

  • Ashish Gupta, Co-founder and CEO of Benori Knowledge, Shares Insights on Providing Customized Research and Actionable Solutions

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    Research services companies are utilizing data-driven approaches to offer custom knowledge solutions for specific business problems. These services can include competitive intelligence, business intelligence, data analytics, strategy research, and more. The goal of these custom research services is to provide organizations with insights and recommendations based on data, helping them make informed decisions, improve processes, and achieve desired outcomes.

    Market intelligence, business research, and financial services are becoming increasingly data-driven, with organizations seeking custom research and insights to inform their decisions. The growing demand for data-driven decision-making, advancements in technology, and the increasing volume of data generated by businesses have driven the global data analytics market to an expected CAGR of 12% to 15% between 2020 and 2025.

    For this Interview, we invited Ashish Gupta, co-founder & CEO of Benori Knowledge, and we talked about the growth, challenges, insights, and future opportunities in the research industry.

    StartupTalky: What service does your company provide? What was the motivation/vision with which you started?

    Ashish Gupta: We provide customized research and deliver actionable insights across various strategic areas such as market/sector analysis, competitive intelligence, account intelligence, consumer insights, etc. Our custom knowledge solutions and products provide power and flexibility to the insights value chain of our clients enabling them to make intelligent decisions and succeed. Our vision is to reduce the cost of knowledge on the planet and empower our clients with actionable insights.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of your service?

    Ashish Gupta: We developed a market intelligence and data visualization tool which provides a 360-degree view of the life insurance industry with all the important KPIs along with competitive intelligence.
    The product uses a blend of machine and mind approach to tracking the key indicators of the life insurance industry. We also started with our scouting solutions by identifying innovations and innovators to help our clients stay ahead of the changes and make preemptive/disruptive decisions.

    StartupTalky: How has the research industry changed in recent years, and how has your company adapted to these changes?

    Ashish Gupta: The research industry has changed drastically over the past few years and technology adoption has been the critical driver of change, be it the changes in conducting surveys, the use of AI, and big data. Further, the industry has become more customer-oriented with a focus on tailor-made solutions.

    Ashish Gupta: Our value of intellectual curiosity ingrained at both individual and company levels always inspires us to learn and stay current. In fact, we occasionally post several thought leadership papers on our website and other platforms to aid in others’ learning and development.

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    StartupTalky: What key metrics do you track to check the company’s growth and performance?

    Ashish Gupta: Clientele, employee count, and revenue are among a few indicators we look at to track our growth and all of them are going quite well. Six of the top eight FMCG companies and the top 10 consulting firms are already served by us, and we have doubled the number of our employees in the past one to one and a half years.

    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Ashish Gupta: Being just 2 years old when it struck, Covid was one of the biggest challenges we faced, but being an agile new-age, tech-enabled firm, we took it heads on and came out stronger and our team size has doubled in a year after covid.

    StartupTalky: Good service, is something everyone is talking about in the service industry. How do you ensure
    that your clients are happy?

    Ashish Gupta: Client-centricity has been one of our brand pillars since the beginning. 100% of our solutions are customized as per client needs, and the quality of output that we provide at such pricing has always been a perk for our clients.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Ashish Gupta: Frankly speaking, we haven’t invested much in marketing as of now, we believe providing quality output to our clients and striving for 100% client satisfaction is the only growth hack I can think of. But we do use LinkedIn to share interesting insights at regular intervals as most of our target audience uses the platform.

    StartupTalky: Foreign clients- this is what most service-based companies are looking for. What has been your experience?

    Ashish Gupta: Although we do have several overseas clients, that number will undoubtedly increase in the years to come, this does not mean that we are concentrating more on or just seeking to engage in the worldwide market. In India, there is a great need for the high-caliber research services we offer at such competitive pricing, and we are working to fill that need.

    StartupTalky: What are the important tools and software you use to run your business smoothly?

    Ashish Gupta: Up until this February, when we moved into our new office and began using a hybrid model of work, we had all been doing our jobs from home for the previous two years. MS Office especially MS Teams is significantly used to connect and communicate within the team and with clients. We also use various other tools such as Power BI for reporting and dashboarding, and CRM for our sales activities.

    StartupTalky: What opportunities do you see for future growth in the research industry in India and the world? What kind of difference in market behavior have you noticed between India and the world?

    Ashish Gupta: Given the disruptions happening, the growth opportunity is high as there’s a huge demand for quality research and insights. The uncertainty in the markets has made research a center point for informed decision-making and building strategies.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?

    Ashish Gupta: We have been adapting to newer technologies for the heavy lifting so that ample time can be devoted to analytical and strategic thinking.

    StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?

    Ashish Gupta: While our clientele is growing globally, given the demand for high-quality research, we are working on a few new productized services that will disrupt the industry. Additionally, as was already mentioned, 100% of our solutions are personalized, and we are constantly prepared to come up with solutions to meet the needs of our clients.

    StartupTalky: One tip that you would like to share with another Service company founder?

    Ashish Gupta: Put the customer first, always and every time; and do not try to solve a problem that doesn’t exist.

    We thank Ashish Gupta for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Advait Kumar, Co-founder of Boon, Strives for Improved Water Sustainability Through Tech and Innovation

    StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.

    The water-tech industry refers to the development and application of technology for the treatment, distribution, and management of water resources. This includes areas such as desalination, water purification, wastewater treatment, and irrigation systems. Companies in this industry may produce equipment, chemicals, and software for these applications and provide services such as consulting, design, and installation. The water-tech industry is a growing field as access to clean water becomes increasingly important for both developed and developing countries.

    The Compound Annual Growth Rate (CAGR) of the water-tech industry varies depending on the specific market segment and region. However, overall, the global water and wastewater treatment market is expected to grow at a CAGR of around 6% during the forecast period from 2020 to 2025. According to a report by MarketsandMarkets, the growth of this market is attributed to factors such as population growth, urbanization, and industrialization, which are increasing the demand for clean and safe water. The report also states that the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, driven by factors such as increasing population and industrialization in countries such as China and India.

    For this Interview, we invited Mr. Advait Kumar, co-founder of Boon (formerly known as Swajal), and we talked about the growth, challenges, insights, and future opportunities in the Water-Tech industry.

    StartupTalk: Advait, what does your company do? What was the motivation/vision with which you started?

    Advait: We want to make drinking water sustainable using technology and innovation. We started Boon (at that time Swajal) with the simple intention of making drinking water affordable for the masses as we believed that drinking water is a fundamental human right and without drinking water that is affordable and healthy, our community as we know it will not survive.

    StartupTalky: What is/are the USP/s of your products?

    Advait: We use technology platforms IoT and AI to monitor the quality of drinking water and the health of the water purifier. This allows us to have significantly fewer maintenance issues while optimizing the efficiency of our purifiers.

    StartupTalky: How has the water-tech industry changed in recent years and how has your company adapted to these changes?

    Advait: The industry is changing the pricing model to subscription-based, and we are leading that change in the B2B segment.

    Advait: Podcasts, blogs, and news.

    StartupTalky: What key metrics do you track to check a company’s growth and performance?

    Advait: The number of plastic bottles reduced per day and liters of water saved compared to a traditional water purifier.

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    StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?

    Advait: COVID disrupted a majority of our B2B business, we had to pivot to other segments like B2G to be able to maintain our cashflows. Despite the major shock, we were able to get by without any layoffs which was a major success for us.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.

    Advait: As we are mostly in B2B and B2G segments, we have never really worked on marketing channels. In this regard, we are closer to Zara or Arizona Tea as our marketing budget instead goes towards making our products and supply chains stronger. We are one of the very companies in drinking water in India that has its R&D lab. We believe that research and innovation will give us the competitive edge that we need. However, in the future for other products and segments, we may deploy more traditional marketing methods.

    StartupTalky: What are the essential tools and software you use to run your business smoothly?

    Advait: We are very early adopters of technologies that have become ubiquitous now. For that reason, we use a developed on top of an open source CRM system that we have completely customized and built to our needs. So, we have our tech tools for CRM, support, inventory, etc. The major advantage for us is that it is completely customizable and costs are nothing when compared to using similar tools from standard SaaS vendors.

    StartupTalky: What opportunities do you see for future growth in the water-tech industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Advait: Drinking water is only getting scarcer and more expensive. Humans will always need drinking water. India is unique in the sense that we have a unique urgency in this compared to other countries; this process is faster for us and there are a lot many more of us. By investing in drinking water innovation and technology now, India could be a global leader in the world in the future as the rest of the world also starts needing more efficient solutions.

    We can see the same thing already within India where states like Tamilnadu have first-hand experience of water shortage and consequently have a greater sense of urgency to get this resolved compared to other states who may be right behind them.

    StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?

    Advait: We are reducing dependencies on key clients or segments so that we are diverse enough to withstand any external market shocks in the future.

    StartupTalky: How do you plan to expand the Customers, product, and team base in the future?

    Advait: We use a mix of go-to-market strategies depending on the product. We tend to gravitate towards working with established channels rather than creating new ones so we can focus on the product rather than building the channel.

    StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship.

    Advait: You do you; it is very difficult for anyone else to understand a founder’s intuition. Have faith in yourself and your vision.

    We thank Advait Kumar for spending his valuable time and sharing his learnings with all of us.

    You can read other Recap’22 Interviews here.

  • Cheelee Major Crypto Trend in 2023: How to Ride the Bullish Wave with GameFi

    In 2023, all of us want to get the best deals dreaming of a breathtaking ride on a bullish wave. What would you say that this year you can get paid for your guilty pleasures like scrolling your video feed on TikTok?

    Probably, each of us lamented that we did not buy Bitcoins when they cost a penny, and made promises to ourselves that next time we would not miss such an opportunity. To deliver on it, pay attention because the game changer is already here. Both for social media and the crypto industry.

    Attention! What is under the tree?

    Let me introduce the project that is set to revolutionise the way we consume content on social media. Cheelee is a social network of short videos like TikTok with underlying blockchain-based benefits like GameFi mechanics. It means that for the first time in the history of social media, users will get their share of the pie.

    So the miracle is the following: you will get paid for the attention you pay because it’s a scarce resource. Sounds like magic but it was invented by the economist Herbert Simon, a Nobel Prize laureate.

    Let’s have a reality check. Yes, Cheelee turned into reality our dreams about earning passive income: you can watch your favourite videos and get paid for that. Where is the catch? Do I need to buy something or what? No, unlike Axie Infinity or other games in the Play-to-Earn model, you do not need a substantial investment to join the attention economy.

    After registration, each user will get NFT glasses. It’s enough to start earning. Of course, later, depending on your video appetites, you can purchase other NFTs but the important thing is that you can also earn to do that within the ecosystem.

    But what about bloggers and creators? Do they have incentives? Of course, no social media can survive without bloggers’ content. Also, it’s a chance for a new generation of bloggers because early birds will get more attention, and more benefits. They will have time to build their loyal audience.

    How is it possible?

    The main question is why now and why it never has been before. Is it even sustainable? Of course, the success of Cheelee can not be as short-sided as many of the games during the boom just because it’s organically settling on our daily habits without a need to change behavioural patterns.

    Another strong point here is a sustainable financial model that takes the best from both words, social media and crypto, to make a solid foundation. For instance, 40% of the platform’s revenue will come from advertising, in-game purchases and brand collaborations, which guarantees solid economic basis.

    Like many money-making crypto projects, Cheelee solidified its economy with two types of tokens: the governance token CHEEL and the utility token LEE. Both tokens have a limited supply. There will be 1,000,000,000 CHEEL and 7,000,000,000 LEE.

    The governance token CHEEL gives the community the right to vote on the project’s future so the project could continue to be decentralised and autonomous. Also, CHEEL token will allow increasing the level of NFT points.

    LEE is the utility token that will be, for example, credited to the account after a user watches the feed. The algorithm automatically regulates mining difficulty: the more tokens are mined, the more difficult it becomes. Apart from that, mining difficulty is growing with time: by 7% per month and 84% annually. It’s done to give the best chances for early birds and to make the economics lucrative for users. Given a limited supply, the growth of mining difficulty will lead to price growth which makes the asset even more promising.

    The success of the utility tokens is also determined by how often it’s actually used. With LEE, this part is covered. Scrolling the feed for extra income will be a popular use case because it can be organically embedded into laymen’s routines.

    All this leads to growth in asset attractiveness for users and investors. If Bitcoin was the first cryptocurrency, LEE has the potential to become the first cryptocurrency to reach the majority of the population with smartphones. While the number of bitcoin wallets with at least 1 BTC is finally reaching a million, already almost 2 billion people actively use TikTok and its Chinese brother Douyin. Let’s dive deeper into why this audience can be reached by Cheelee?

    Where is the Cheelee moon and how long can it stay there?

    First of all, the social media market is huge. Unlike the Play2Earn model or crypto projects, Cheelee is reaching a wider audience with a product that can be used daily. Over 4.6 billion people use social media and the number is growing too. And this is the market Cheelee is aiming at. Cheelee’s team already has successful experience in launching social networks: for example, their NUTSon app has over 1.5 million users.

    Yes, this proves the initial interest, you would say. But what will happen when the price will grow 1000 times? Can pressure from funds or investors lead to panic sales? To prevent this from happening, the investment funds and team’s tokens will be frozen for 24 months so there will be no tokens in free circulation at critical times when the app will gain momentum.

    Generally speaking, these factors suggest that the CHEEL token is going to the moon soon and it’s very much likely to stay on top at least before something even more radical can be invented.

    Cheelee fueling the crypto market growth

    The beginning of 2023 was marked by a new wave of growth in the crypto market. Bitcoin is back to $20,000, investors are encouraged and waiting for further favorable news. However, many analysts warn that the bears are still strong and can seize the initiative in the market at any moment.

    Yet, such projects like Cheelee can serve as a fuel to move the whole market forward. Since Bitcoin’s inception, all the crypto community is talking about is mass adoption. Any smartphone user will be able to earn a decentralised coin in a few clicks, and so it will be proven that the future is just around the corner for other industries and areas where decentralisation can come of use.

    Cheelee is one of the few tech projects worth keeping an eye on, even if you don’t intend to invest in it. According to IBTimes, by following Cheelee’s team on Twitter and other social media, you can keep yourself up to date with the latest web3 trends.If you have some questions or ideas you would like to share, they are always welcomed to discuss them with the Cheelee community.