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  • Bharat vs India – Which One is More Digitally Savvy?

    Gone are the days when only the English language can be used by social media users to communicate. Thanks to various social media apps and the development of technology, people are now able to use their regional language while handling social media. Communication is possible for everyone and they are able to use the language they prefer without any problem.

    When it comes to India, with a population of over 1.3 Billion people, the country is known for its diversity. As per the constitution of India, it has 22 scheduled languages and in total it has 121 languages.

    Time has changed and the people of India are avid users of the internet, especially social media and they can do this in their native languages. In this article, we will talk about the report that is being released by ShareChat and GroupM called ‘Bharat- The Neo India’ and how businesses can benefit from it.

    “Our native language is like a second skin, so much a part of us we resist the idea that it is constantly changing, constantly being renewed.” -Casey Miller

    Bharat – The Neo India
    Why the Report is Important?
    Bharat vs India: Which One is More Tech Savvy?
    Some Other Facts of Bharat Users
    FAQ

    Bharat – The Neo India

    Bharat – The Neo India is a report comprised of ShareChat and GroupM both of them jointly conducted research to find out about the situation of the people who use the internet in their native language.

    This report will help brands and businesses to understand online behaviour, the trends of internet consumption, and the way people use social media. People who are using Indic languages are called Bharat and people who prefer using the English language are referred to as India.

    Why the Report is Important?

    The report made after the thorough research is important because of the reasons below:

    • This will help the businesses to understand the behaviour of the people who uses the internet in their native language.
    • It will help the businesses to form a proper marketing strategy to grab the attention of Bharat and engage them in their business.
    • It will expose all the common misconceptions regarding the people who prefer the Indic languages while using the internet.

    Bharat vs India: Which One is More Tech Savvy?

    The report stated all the information of internet users of Bharat and India, their media behaviour, choice of content, lifestyle, interest, and others. Some of the findings from the report are stated below.

    Bharat or the people who prefer Indic languages can be found throughout the country, in fact, 39% of them are from the metro cities and 53% are from the non-metro cities. The survey was conducted by YouGov on 3432 people from 17 Indian states who are active internet users who put their input into it.

    Financial Activities

    Bharat users are quite aware and in the same range as the Indian users in terms of completing any financial activities online. In fact, people who prefer Bharat are using online payment mode more than Indian users. 56% of Bharat users complete their monetary transactions through net banking and online debit card transactions.

    Not only that, 49% of them use mobile wallets. Bharat users are quite aware of mutual funds, cryptocurrency, stocks, and other new-age investments and are naturally investing in them as well.

    Social Media

    When it comes to social media, Bharat users seem more occupied with it than Indian users. 29% of Bharat users post daily on social media, instead of 22% of Indian users.  39% Bharat uses Social media for consuming News as its primary source.

    Streaming

    The online video streaming platform is a prime source of entertainment nowadays. Streaming videos are more popular amongst Bharat users than watching TV. 50% of Bharat users love to watch free videos while 47% indulge in watching TV.

    Food

    In the case of ordering food online, 42% of Indian users indulge themselves in it compared to 24% Bharat users.

    When it comes to using the technology of Voice search, 26% of Bharat users seem to use it compared to just 15% of Indian users.

    Online Shopping

    Online shopping by Bharat users has increased and in 2021, 46% of them purchased gadgets online. Apart from that, apparel, beauty products, skincare products, and any kind of booking related to travelling.

    All these findings state, that the native language users are not far away from English language users and are maintaining their digital presence quite well. They are technologically aware and are using different platforms and are enjoy the digitalization of everything.

    Some Other Facts of Bharat Users

    Every one in five-person who uses social media in their preferred Indic language is investing in Cryptocurrency. 27% of Bharat users pay for using video streaming platform services and 37% of them use the internet for listening to music.

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    StartupTalkyMahenoor Mansuri

    Conclusion

    The article concludes that an internet user who prefers their native language is not at all far away from English language users. They have adapted themselves and some Bharat users are even more comfortable in using the digital facilities than the Indian users. They are educated and digitally aware.

    As per the report, it seems Bharat is much more Tech-savvy than India. Businesses can now easily form their market strategy and can touch the market that they were not able to in the past.

    FAQ

    What is Bharat – The Neo India?

    The Neo India is a report comprised of ShareChat and GroupM, both of them jointly conducted research to find out about the situation of the people who use the internet in their native language.

    How many languages are there in India?

    India has 121 languages and 22 scheduled languages.

    What is the difference between Bharat and India?

    People who use Indic languages are called Bharat and people who prefer using the English language are referred to as India.

  • How to Hire the Right Celebrity for Brand Endorsements?

    It has become very common to hire a celebrity to promote a product. Hiring a celebrity for the endorsement not only helps to connect with people to attract customers but also provides a competitive advantage over other companies. It is one of the marketing strategies that helps a brand to gain popularity.

    Choose the Right Celebrity for Brand Endorsement
    Contact the Celebrities Manager or Agency
    Choose the Platform for Celebrity Endorsement
    Advantages of Celebrity Endorsements
    Disadvantages of Celebrity Endorsements
    Choose the Platform for Celebrity Endorsement
    FAQ

    Choose the Right Celebrity for Brand Endorsement

    There are different ways by which the brand can hire a celebrity for endorsement of their product. Everything should be clear about what the company wants to do and whom the company wants to hire for endorsement. In addition check about the celebrity who will endorse the product.

    Most of the time the brand hires a celebrity who is highly respected and is sincere, honest and has a good reputation. The company should know about their audience. This plays a very crucial role because if the company understands the needs and expectations of the audience then it is easier for the company to advertise its products. When the audience is vividly known than the celebrity you are hiring should fit into what you are advertising.

    If a company is advertising about sports they can hire celebrities like Virat Kohli, MS Dhoni, and other celebrities who connect to the product. This will also help the celebrities advertise and endorse the product passionately as they will have some connection with the product and the advertisement in which they can win customers’ trust. Endorsement becomes more effective when celebrities connect through their lifestyle and carrier fields.

    Contact the Celebrities Manager or Agency

    There are different ways to contact a celebrity but mostly due to their busy schedule their appointments are set by their managers or agents. After getting an appointment both parties can discuss the brand. When celebrities give their consent for the endorsement then they can discuss other details related to the endorsement.

    Direct contact

    To hire a celebrity you can directly contact them through their managers and set an appointment. Social media is also a direct way through which you can contact the influencers by sending them a message and waiting for their response.

    Third-party contact

    One can also contact them through agents and websites that work as a medium between the company and celebrities.

    Choose the Platform for Celebrity Endorsement

    Every business whether it is small scale or large scale can hire celebrities or influencers for the endorsement to promote a brand according to their budget. If a company wishes to hire a celebrity for the endorsement of their brand then television advertisement is the best way as it attracts a lot of consumers.

    In earlier times companies would advertise with the help of newspapers, Tv, print advertisement, and other traditional marketing strategies. The modern youth is engaged in social media platforms in which celebrity endorsement can be done effectively.

    In today’s time Television, the internet, and social media platforms are the best way to attract consumers to a product, and celebrity endorsement is one of the most effective ways to attract a large number of customers.

    Endorsement via social media

    The companies can also use social media platforms to advertise their products as it is the most used platform and trendy mostly among the youth. The companies can also hire micro-influencers to promote their product to connect directly with the consumers and also get feedback on the product to make changes that are needed. Social media endorsement is beneficial as people watch and purchase products by watching content shared by celebrities and influencers.

    Micro-influencer

    Micro-influencers are individuals who have more than 1000 followers and can connect with consumers more. Sometimes people don’t believe in the product being promoted by a celebrity as they think celebrities get paid and they don’t trust the words told about the benefit of the product directly by the brand. People trust micro-influencers as they share content that is of consumers’ interest and remove their doubts and hesitation to buy a product.

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    Advantages of Celebrity Endorsements

    • It helps companies to build brand equity and attract more customers.
    • It helps customers to set their doubts related to the product aside and purchase the product as the person they idolize use and say benefits of using that product.
    • All sizes of businesses can hire celebrities or influencers for the endorsement to be its spokesperson for the brand to promote the brand and attract more customers.

    Disadvantages of Celebrity Endorsements

    • The company should analyze everything about their products as there should be no problem with the product. If something goes wrong with the product, celebrities get questioned which affects their fan following.
    • Analyze and check everything all the angles of marketing and then advertises the product to make sure that there will be no objection.
    • If celebrities make some mistake or there are some bad rumours about them it affects the product that they promote.
    • The main focus of endorsement should be to promote the brand as sometimes due to advertisements that focus on celebrity more, forgetting that its main focus is brand and celebrity is a medium which helps to connect with people to increase sales of the product.
    • Celebrity endorsement is not just risky for the brand but sometimes it also affects the popularity of a celebrity if something goes wrong.

    Is Celebrity Endorsement an Effective Method?

    When we see some type of advertisement where celebrities endorse the product in the advertisement, this is a crucial way of marketing as the consumers will pay a special alternative towards the product.

    Celebrity endorsement is an effective method to attract customers. It is a marketing technique but with this, there are also some limitations for small enterprises and businesses when compared to big enterprises to hire big celebrities to promote their brands. Bigger brands use a celebrity or influencer as a spokesperson to help them promote their brand, product, or services.

    Conclusion

    A celebrity endorsement is one of the most effective ways to endorse a product or brand. As many people are influenced by a celebrity or an influencer. Not every endorsement will have a significant ROI, so while hiring a celebrity study the demographics of your target audience to maximise the ROI.

    As we know the youth follows the trend and famous people who have a lot of fame and buyers adore and trust them as a result celebrities can use their fan following to get the brand a large number of buyers. Though it is an effective method to attract more people it also has limitations.

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    FAQ

    How much does it cost to get a celebrity to endorse your product?

    Usually, Celebrities or influencers with decent following charge $3000 for video endorsement and $1000 for a single post.

    How do I get a celebrity to endorse my brand?

    Hire the celebrity that suits your brand, Contact the celebrity, and Choose the type of platform you want the celebrity to endorse your product.

    How do I hire a celebrity influencer?

    If you want to hire a celebrity influencer contact them through social media where they are most active.

  • 7 Best Ideas to Reduce Office Waste | Reducing Waste Generation

    The growing population and the businesses have a positive impact on the economy in terms of GDP and other financial growth. But this development also has a diverse effect on the environment. The generation and improper disposal of wastes from these sectors are massive. Many governments are creating awareness on waste management in their country’s work culture. Yet it seems insufficient and the amount of waste we produce at work is extremely high.

    According to the World Bank, at this rate of waste generation, global wastes could go up by 70 per cent by 2050. This organization urges immediate actions, otherwise, it could be a severe threat to humanity. “Proper management of wastes can reduce its impact”, say analysts. Hence, we as individuals and teams can start the initiative from our offices to regulate the usage and disposal of wastes. Here are some steps and ideas on how to reduce office waste:

    7 Simple Ways to Reduce Office Waste

    1. Create a Paperless Work Environment
    2. Use Reusable Coffee Mugs
    3. Avoid Bottled Water
    4. Limit Paper Usage by Printing Smarter
    5. Encourage Employees to bring Lunch from Home
    6. Reuse Files, Folders, Parcel and Packing Materials
    7. Work Closely with Vendors and Suppliers in Reducing Waste

    Conclusion
    FAQs

    Create a Paperless Work Environment

    Paper Wastes are ranked to be the largest waste that an office or a business generates. It has been identified that 50% of the office wastes turn out to be papers. Reports say that around 85 million tonnes of paper waste are created every year in America alone. The numbers are shocking. What can we do to reduce paper waste?

    • Switch to Computerized Billings and E-Invoices instead of papers.
    • Start maintaining records digitally and practice online transfer of files through cloud or email wherever possible.
    • Any corrections or edits can be done before printing the documents.
    • Encourage using Laptops or Tablets for taking notes in meetings.
    • Use both sides of the paper and any misprinted papers can be used as scratch papers.

    Going Paperless

    Use Reusable Coffee Mugs

    The disposable coffee cups form to be the second-largest waste generator in offices. Statistics show that around 16 billion coffee cups are being dumped around the world every year. Therefore the paper cups can be replaced with reusable mugs and glasses. Every employee can have their own coffee mugs or the office can provide them with reusable ones. Encouraging employees to use such long-lasting items and creating awareness to avoid taking coffee/tea in any disposable cups helps to drastically reduce office waste.

    Avoid Bottled Water

    Plastic water bottles wastes
    Plastic water bottles wastes

    Do you know that the number of plastic water bottles sold around the world in a year stands around half a trillion? You heard it right and the numbers are whopping high. Not even 20 per cent of the thrown water bottles are recycled. The rest of them are getting dumped in the ocean or in some landfill sites. What can be done to reduce this?

    You can set up filtered drinking water stations throughout the office which reduces the need for your employees to buy bottled water. You can also provide your employees with reusable quality drinking water containers or bottles. This even becomes handy for them during work and can be refilled during their leisure.

    Reducing Plastic Waste

    Limit Paper Usage by Printing Smarter

    We have earlier seen some alternates for the paper on possible occasions. But in certain cases or for certain companies, usage or printing of paper becomes unavoidable. For such cases, you can implement some smarter ways to minimize the wastages.

    • Margin settings can be adjusted as per need. Standard margins might occupy more spaces thus providing less area for the information. You can reduce it to preserve paper.
    • Print on both sides of the paper.
    • Print only if it is needed. You can encourage your employees to use the ‘Print Selection’ function to select only the required pages instead of printing the entire file.

    Encourage Employees to bring Lunch from Home

    Does bringing lunch from home reduce waste? Yes, it does because employees buying or ordering food daily generate waste in the form of food packages. Such a small creation of waste from each of us daily can pile up several tonnes of garbage every year. A simple initiative of taking lunch from home every day in reusable containers helps us in reducing office waste. Offices too can provide some basic facilities like an induction stove for heating foods and other essential plates and dishes for employees. This can be an encouraging step towards achieving the long-term goal of waste reduction.

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    Reuse Files, Folders, Parcel and Packing Materials

    The use of files and folders can be made in a planned and organized way. Instead of taking a new file or folder every time for storing data, the existing ones can be labelled and renamed while replacing the contents. Some creative ideas can also be followed to make the reuse of files interesting. Limiting the throwing of files after single use reduces office waste to a great extent.

    Reuse of parcels and packing materials can be another best way to minimize office waste. After taking the contents out, you can preserve the packing boxes or envelopes for future use to send parcels to your clients. This way the quantity of waste that gets out of the office can be brought down.

    Work Closely with Vendors and Suppliers in Reducing Waste

    Another way the waste gets generated in the office is through parcels or material sent by suppliers. The number of orders we place and the way of packing can be a major factor for the waste pile up. You can communicate with your suppliers regarding your goals on waste reduction and get the products delivered accordingly. Right from coffee powder or stationery for the office to raw materials for your manufacturing, purchasing in bulk could always reduce waste generation. Ask the suppliers to take back the packaging after delivery or provide recyclable pack-ups. You can also make this work with your clients and encourage them to follow suit.

    If you’d like to find out more about commercial waste removal head over to WM Waste Management Services

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    Conclusion

    Avoiding waste completely in offices may not be possible as every business is unique and has different requirements. One business may require a lot of printing or packing whereas the other has an option to avoid it. So the goal can always be to minimize waste generation to the maximum possible extent. These were the best 7 ideas on how to reduce office waste which you can implement in your premises and achieve success in waste reduction.

    FAQs

    What are the most common waste types in the office?

    Common Office Wastes include:

    • Paper Waste
    • Food Waste
    • Food Packaging Waste
    • Parcel packing waste
    • Plastic Bottles

    How can we reduce office waste?

    Here are some simple ways to follow to reduce office waste:

    • Create a Paperless Work Environment
    • Use Reusable Coffee Mugs
    • Avoid Bottled Water
    • Limit Paper Usage by Printing Smarter
    • Encourage Employees to bring Lunch from Home
    • Reuse Files, Folders, Parcel and Packing Materials
    • Work Closely with Vendors and Suppliers in Reducing Waste

    What is the best method of waste management?

    Recycling is one of the best method of waste management.

  • How Startup Founders can Keep themselves Distraction-Free?

    The article is contributed By Sonica Aron, Founder and managing Partner, Marching Sheep.

    Laying the foundation stone of your business, running it well, and ensuring that it succeeds requires hard work, patience, and perseverance. Being a Founder, it becomes imperative and a prerequisite that you possess have a variety of skills, including leadership, managerial, financial planning, creativity, innovation, as well as resilience. However, you would often come across a lot of distractions in today’s digital-driven and unpredictable times in the form of social media or the disruptions induced by the pandemic. This is what your real test is- staying distraction-free and focusing on your work! Cutting through the clutter and steering your firm through crises to a brighter tomorrow is indeed possible if you have tenacity, well-defined goals, and a vision for the future. Let’s take a closer look at a few tips on how to avoid distractions and stay focused.

    Tips to Avoid Distraction and Stay Focused

    Training Your Brain
    Prioritizing Self-Care
    Staying Focused on The Core Values
    Taking on More Complex Tasks
    Monitoring Your Distractions

    Training Your Brain

    Distractions are goal-killers, and they sneak into your working hours unknowingly. Smartphones, social media, and continuous notifications disrupt your workflow and divert your focus away from the important tasks at hand. When you throw in a situation like COVID-19, these distractions multiply. For instance, the sudden transition to work from home was accompanied with a slew of unexpected distractions, including children, dogs, spouses, OTT platforms, and so on. Eliminating the external distractions isn’t possible. But you can focus on the ones that you can control. One easy way could be turning off email notifications and checking your inbox at fixed times every day. Keeping your phone on mute, putting it away for a while, or even setting a timer for taking breaks could also help you maintain distance from the distractions. The best approach however is to concentrate completely on your work when you’re performing office tasks. Focusing on developing your time management skills and practicing mindfulness will definitely reap benefits not only during crisis but in the long run as well.

    Prioritizing Self-Care

    According to many recent pieces of research, a majority of corporate executives struggled with mental health issues during the pandemic. Yet several of those who needed treatment did not seek it. What needs to be understood is that neglecting your physical and mental health can lead to a cascade of additional issues, such as medical visits, insomnia, poor nutrition, and unstable relations, to mention a few. These are all attention-getters and can further become distractions in the long run. The bottom line is that you cannot afford to overlook your physical or emotional health. Prioritizing yourself and incorporating self-love and self-care activities in your routine will rejuvenate you and empower you to divert all your attention to your work.

    Staying Focused on The Core Values

    It goes without saying that you would have set clear values to drive your actions and establish exactly what your firm stands for when you were just starting out. These core values help build the strong foundation of your business and contribute in its success as well. In such unprecedented times, it’s easy to lose sight of your guiding values, especially when your company’s survival is on the line. However, you need to stay firm on your beliefs as they will guide you on the right path ahead.

    Taking on More Complex Tasks

    If you’re facing difficulty while concentrating, then it’s likely that your work isn’t engaging or challenging enough. For instance, routine data input for long hours can lead to boredom and tend to make us feel unproductive. You may end up feeling as if you’ve been working hard all day, but it’s possible that your mind is combating monotony and searching for ways to kill time. This is your clue to step out of your comfort zone and try your hand at something new or complex!

    Our brains are wired in such a way that we tend to pay attention to anything new, enjoyable, or alarming. This is the reason why we should take up complicated projects as they require attention and make use of our cognitive memory, leaving us with minimal or no time to be lured by distractions. When our skills are tested, we are more prone to reach a state of total job immersion. We become captivated and hyper-focused on the job when we take on sophisticated tasks that test our ability and cerebral limits. Completing these responsibilities eventually makes us feel accomplished and worthy of having contributed our best!

    Monitoring Your Distractions

    According to one of the studies by Harvard, we spend over half of our waking time thinking about something other than what we’re meant to be doing. We are on autopilot, and our minds are drifting, partly to avoid having to concentrate. The key to efficient working is to recognize when your mind starts wandering and redirect your focus to the activity at hand. Being aware of your thoughts will help you control them and divert your mind in the right direction. The idea is that you consciously put the brakes on the distractions rather than allowing yourself to continue strolling over to social media to check out your newsfeed. When you’re tempted to give in to a distraction, take a deep breath, and choose not to engage.

    It’s more difficult to refocus and restore your attention to the task at hand once you’ve fallen into the trap and have permitted yourself to emphasize something else. In simple words, instead of letting yourself jumping from one project to another, be attentive to your thoughts.

    Conclusion

    Being the Founder, you would often face to various challenges and they would usually end up distracting you from your goals. But you have to make sure that you stay focused, so that your business attains success. With just minor modifications in your style of working and dealing with challenges along with being mindful, you can easily surpass the roadblocks and mental blocks. The idea is to free yourself from the cage of distractions and focus on strengthening your concentration. Doing so will help you in spearheading your business efficiently and will ensure that it reaches the zenith!

  • Shark Tank India: Episode 1 Review – Was it Worth the Hype?

    Shark Tank is a business reality show owned by ABC and is the no. 1 business reality show in the world. The concept of the game show involves ambitious entrepreneurs presenting their breakthrough business concepts to ruthless investors or “Sharks” to convince them to invest in the concept.

    The most important part of Shark Tank is the panel, aka the ‘sharks’ who decide whether or not to invest in the ideas of the entrepreneurs. In the Indian version, Shark Tank India, we have the following sharks (Judges) in the panel:

    • Vineeta Singh – CEO & Co-founder of SUGAR Cosmetics
    • Ashneer Grover, Founder and MD of BharatPe
    • Peeyush Bansal – Founder & CEO of Lenskart.com
    • Namita Thapar – ED of Emcure Pharmaceuticals
    • Anupam Mittal – Founder and CEO of Shaadi.com
    • Ghazal Alagh – Co-founder and Cheif Mama of Mamaearth
    • Aman Gupta – Co-founder and CMO of BoAt

    Some aspects that come to mind when someone says Shark Tank: grilling someone on the industry size, the market opportunity, the size of the niche market they want to target (if they are targeting a niche market), competitors, financial data on their competitors, how they got that data / how they arrive at the assumptions about their competitors etc.

    On top of this, Sharks also want to get to know the entrepreneurs. There are a few episodes in the original Shark tank where the Sharks have walked away from a pitch not because the product was bad, but because they didn’t want to work with the investor.

    On the flip side, there were also times when Sharks made offers not because they loved the product but because they believed in the entrepreneurs. We get a glimpse into some of the characteristics of these entrepreneurs but I’m sure they go more in-depth.

    The first episode of Shark Tank India was aired on 20th Dec 2021 on Sony Liv. The panel for the first episode included Vineeta Singh, Ashneer Grover, Namita Thapar, Anupam Mittal, and Aman Gupta.

    BharatPe MD and Co-founder Ashneer Grover, who is still one of the judges of the Indian version of Shark Tank, has been recently engaged in a financial fraud of BharatPe and is asked to be on a mandatory leave of absence. He and his wife Madhuri Jain Grover, who is also associated with this financial misconduct, has been on a leave of absence along with five others. BharatPe Co-founder and MD can also be fired from the company by the Board, as far as the reports dated January 29, 2022.    

    Products Featured in the First Episode of Shark Tank India
    Review of the First Episode of Shark Tank India
    FAQ

    First Product: Blue Pine Foods Pvt. Ltd.

    Blue Pine Foods Pitch
    Blue Pine Foods 

    The Entrepreneurs:

    Aditi Madan aka Momo Mami and the Co-Founders- Rohan Singh and Naveen Pawar.

    The Ask:

    ₹50L for 5% equity

    The Pitch:

    Blue Pine Foods is a frozen momo company that makes 100% natural, preservative-free handcrafted momos using traditional Himalayan ingredients. The shelf life of the momos is over 4 months.

    The Profits:

    Made and sold over 80 Lakh momos through both B2B and QSR. Sales of ₹3.6 cr over the period of 5 years.

    The Negotiation:

    Ashneer did not wait too long before making the first offer of ₹50L for 7% equity with a warning that it was an exploding offer. Anupam pulled out saying he cannot make an offer that’s lower than Ashneer’s. Namita Thapar was the next one to pull out as she “cannot relate with the industry”. Vineeta offered ₹50L for 20%.

    Together, Aman and Ashneer offered ₹50L for 12%, to which Aditi gave two counteroffers of ₹50L for 10% and  ₹75L for 12%. Ashneer, Aman and Vineeta came together and made a tempting offer of ₹75L for 16% equity, which was happily accepted by Aditi.

    The Deal:

    ₹75L for 16% Equity

    Second Product: Booz Scooters

    Booz Scooters
    Booz Scooters

    The Entrepreneur:

    Rutvij Dasadia

    The Ask:

    ₹40L for 15% equity

    The Pitch:

    Booz is South Asia’s first App-based electric scooter operator that serves at business parks, Commercial parks, residential areas, industrial areas, educational campuses, tourist spots, clubs, resorts and other such confined premises by offering electric kick scooters on rental.

    Charging stations, installations, daily maintenance, charging plugins and plug outs are offered at monthly subscription. The vision of Booz is to eliminate fuel vehicles at these places and make premises more pollution-free and add leisure experience to recreational spots.

    The Profits:

    Last Year the business got revenue of 4 Lakhs.

    The Negotiation:

    Anupam pulled out immediately after giving a brutal statement that he doesn’t see any value in it. Namita, once again, pulled out as she doesn’t “relate to the product” and because the product did not excite her on a personal level. Vineetha and Ashneer came together and made an aggressive offer of ₹40L for 50% Equity. Rutvij countered the offer with an offer of 40L for 33% Equity but Ashneer stood his ground till the founder finally caved.

    The Deal:

    ₹40L for 50% Equity

    Third Product: Heart up my sleeves

    Heart up my Sleeves
    Heart up my Sleeves

    The Entrepreneur:

    Riya Khatter

    The Ask:

    ₹25L for 10% equity

    The Pitch:

    It’s a unique brand that makes detachable statement sleeves. The sleeves are reusable, sustainable and you can style them in different ways.

    The Profits:

    Sales of ₹11.6L in 9 months. Last month’s sales were ₹1.96l.

    The Negotiation:

    Aman and Namita did not think twice before pulling out as they did not see potential in the product. Anupam and Vineeta swooped in to grab the opportunity, and an offer of ₹25L for 40% equity was placed on the table. The 23-year-old entrepreneur countered it with an offer of ₹25L for 30% equity which the sharks couldn’t say no to because of her beautiful pitch.

    The Deal:

    ₹25L for 30%

    Review of the First Episode of Shark Tank India

    The investors faced a lot of backlashes after the show was aired. But there were a lot of people that found nothing wrong with the actions of the investors. The controversy can be summed up with the help of the post and the comment below:

    Shashikant Chaudhary, an angel investor posted the following on LinkedIn:

    “I was really very excited to watch the first season of Shark Tank India – both as a viewer and as an angel investor. This show promises a platform for entrepreneurs from tier 2 and tier 3 cities to take their business to the next level. Crucially, this show is also going to double as educational for millions of people as it reveals things about business and funding.

    It is in this context that I found the way sharks were making an offer to entrepreneurs by asking for a 40-50% stake in the company for 25-50 lacs uncomfortable to watch.

    As an angel investor myself and instructor of an entrepreneurship course, I feel, If an entrepreneur is giving up 30-50% of the company in a single round, by the end of the third or fourth round of investment, the founding team will be at less than 15-20% stake. There would be very little incentive for founders to work for such a low equity stake. In the end, he/she would leave the company.

    I know it can be argued that the sharks are doing their best by getting the best deal for them personally but I also feel that this is a tricky message for the startup community (especially those not well-versed with technicalities of the impact of giving away too much stake in a single round). I wish people watching the show somehow also know that this is the kind of offer that is detrimental to the founder in the long run.”

    And the top comment by Paresh Masade, Founder of Vaave (Coherendz India Private Limited) read:

    “Isn’t the very notion of “Shark” in a tank wrong, they are supposed to be “Angel” investors. You have been a mentor, guide, advisor and well-wisher, not even close to being a shark.

    My views on the shark tank differ a bit, it is designed to be a TV show and to entertain the audience. They resemble more of the WWF matches, very glamourous and sexy, nothing real. I may be wrong here, but many of the seasoned angel investors I have seen, understand very well that it’s the entrepreneur who is in the driver’s seat!”

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    Conclusion

    The original shark tank created a huge fan base for itself across the globe over the past 13 years. The Indian show definitely shows a lot of potential for creating a massive loyal fanbase as well. It is amazing to see the spirit of the young entrepreneurs and supportive seniors on Indian television. Hopefully, the show will bring a new wave of ideas and entrepreneurs to the country.  

    You can watch the episodes of Shark Tank India live on SonyLIV or Sony TV. With new episodes coming out from Monday to Friday at 9 PM on the designated platform.

    FAQ

    Who are the judges in Shark Tank India?

    Vineeta Singh, Ashneer Grover, Namita Thapar, Anupam Mittal and Aman Gupta, Ghazal Alagh, and Peeyush Bansal are the judges in Shark Tank India.

    Where to watch shark tank India?

    You can watch Shark Tank India on Sonyliv.

  • The Future of Plant-based Nutrition in India – Rishubh Satiya, Co-Founder of Plix

    The article is contributed by Rishubh Satiya, Co-Founder, Plix

    Health and wellness have come sharply into focus in recent years due to the pandemic and environmental concerns. Today, a lot of public discourse is about plant-based diets and nutrition. What makes this a key element in the wellness arena is the fact that it is a way of consuming environmentally sustainable nutrition foods.

    In the past, one of the biggest popular theories that inhabited the consumption of green foods was that they were considered to be deficient in nutrients compared to meats. However, now there is evidence to prove that right combination of plant-based food items can provide the required levels of vitamins, minerals and phytonutrients to consumers. They also have good fiber content which aids in better digestive system functioning.

    Let’s take a look at three key nutrition needs of the body and how plant-foods help meet these.

    Plant-Based Proteins, Carbohydrates and Fats
    The Perception about Plant-based Nutrition
    Need for Sustainability
    The Future of Plant-based Nutrition

    Plant-Based Proteins, Carbohydrates and Fats

    Proteins are the building blocks of our body but the biggest misconception about plant-food is that it doesn’t offer proteins. However, there are several green food sources such as beans, peas, and lentils as well as whole grains that can contribute to the body’s protein needs. Even though whole grains are a better source of carbohydrates than proteins, these are essential in providing the required amino acids which are in turn the creators of proteins in the body.

    Nowadays, protein powders made from plant sources such as pea, rice, hemp, oats and quinoa are gaining traction as nutritional supplements. Plant-based foods including fruits and vegetables as well as whole grains, are all great sources of carbohydrates and fibres. When we add whole foods such as nuts, coconut, seeds, avocado and olives, we also get ample unsaturated fats which are considered as safer compared to the saturated fats that animal food contains.

    The Perception about Plant-based Nutrition

    When people hear plant-based nutrition, they tend to think of either consuming fruits, vegetable salads or elaborate vegetarian food preparations that need a lot of cooking time and skill. Ready-to-eat plant-food items that are adequately impactful, delicious and easy to consume are considered as difficult to access. This is an area where modern nutrition brands are now ensuring that holistic, tasty, and easily accessible clean, plant-based nutrition products are made available to consumers.

    There is a conscious attempt at not only creating holistic nutrition alternatives which can take care of the diverse nutrition needs of the body, but also of the environment around us. A major change that these tech-based modern plant-nutrition labels are bringing about is that they are helping people enjoy nutrition supplements other than tablets and capsules. As any wellness conscious person would have experienced, nutrition supplements conventionally come in the form of capsules and pills. These smell, look and taste like medicines. Considering that the pills and medicines are embedded in human psyche as signs of illness, people tend to avoid them when they are not diseased.

    The plant-based nutrition companies are familiar with this problem, and have been focusing on offering products such as effervescent, powder supplements, and yummy gummies etc. A good plant-based nutrition label offers such options to take care of diverse wellness needs such as skin care, beauty care, hair care, women’s health problems, dietary and workout supplements etc.

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    Need for Sustainability

    Unpredictable weather patterns and climate change is already costing trillions of dollars globally in the form of crops, loss of lives and property due to natural disasters. They are also causing loss of productivity due to preventable illnesses. Global warming caused by green-house gases is a leading cause of all these destructive changes. This is where the role of the animal food industry has come under scanner as it is responsible for a significant percentage of the harmful gas emissions. On the other hand, plant-based foods have become sustainable, tasty and clean alternatives which can ensure nutrition for all, and reduce green-house-gas production simultaneously.

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    The Future of Plant-based Nutrition

    Our planet will be home to over 10 billion people by 2050, and that also happens to be the year by when many countries aim to achieve carbon-neutrality. In the post-pandemic world, health and wellness management will have to be ensured in sync with environmental concerns. This makes the role of clean foods more important than ever. There is no doubt that this is where the future of nutrition lies!

  • How was Dropshipping Started and What is its Future?

    In the last few decades, online shopping has grabbed the full attention of everyone. It has become a part of our daily lives. From clothes to medicines, to groceries, there is hardly anything that cannot be brought from online. It is convenient, hassle-free and it saves time. Plus the pandemic accelerated the demand for shopping online; people find it safer especially during the period of lockdown.

    Now when we purchase any goods they are delivered or shipped to the preferred place that we have mentioned while shopping online. There are different methods of shipping and E-commerce sites are adopting different models for their business. To deliver the products to their customers, a number of ways can be followed. In this article, we will talk about one of the methods which are known as Dropshipping. So, let’s take a look into it.

    “Dropshipping is the entry point for a lot of people to business, E-commerce, and entrepreneurship. It’s the perfect first business.” –Lachlan Delchau-Jones

    What is Dropshipping?
    History of Dropshipping
    How Dropshipping Works?
    Advantages of Dropshipping
    Disadvantages of Dropshipping
    Future of Dropshipping
    FAQ

    What is Dropshipping?

    Dropshipping Model
    Dropshipping Model

    Dropshipping is a way of selling and delivering products to your customers without managing, and shipping the goods. Here you contact the supplier and let them deliver the product to your customer.

    Basically, your website is like the intermediary, from where the customer chooses the product and then you forward the request to the supplier of the product who will ship it to the customer.

    You don’t have to manufacture, store or ship the product themselves, dropshipping is free from all these steps all you have to do is to find the perfect dropshipping supplier for the job. It is quite a good option for those who want to start an E-commerce startup. It is said to be one of the most profitable models in the E-commerce industry.

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    History of Dropshipping

    The history of Dropshipping actually goes back to the days of the 60s and 70s, way before the internet was developed. During that time, when mails were delivered to the people, small booklets or catalogues were present along with them, with the help of that, one could place the order for their desired product from the catalogue through telephone and then the order was delivered to them at their doorstep.

    Sears Catalogue
    Sears Catalogue

    Amazon and eBay then changed the way people used to sell products online. People who want to sell their products could just place them on the sites and let the E-commerce sites drive the traffic towards that product.  

    Currently, sites just need to find the supplier for the product who does the remaining job for them. Aliexpress and Shopify are some of the websites that made starting an E-commerce business easier as manufacturers and dropshippers are easy to find here.

    How Dropshipping Works?

    If you want to start an E-commerce site, dropshipping is one of the best options for you. Below are the steps on how it actually works.

    • The first and foremost thing that one has to do is select the proper supplier.
    • The second step is to connect the supplier’s app to your online website.
    • Select the products that you want to sell to your customers.
    • Set a price strategy for you dropshipping model of your business.
    • Accept the orders from your customers.
    • The orders of the customers then are forwarded to the supplier. And you have to pay them for that order.
    • The suppliers then deliver the products to the doorstep of your customers.

    Advantages of Dropshipping

    Some of the advantages one get to enjoy if they chose to dropship are:

    • E-commerce business that follows the dropshipping model doesn’t need a large amount of capital for their business. They don’t need to pre-purchase the products. So comparatively, it needs less capital.
    • No need for a warehouse, where you have to store the products. The suppliers are the one who takes care of the product by storing them. Therefore, you can select whatever product you this is appropriate for your business.
    • As the whole shipping process of the products is handled by your supplier, you can do your business from any part of the world.
    • You can try to sell any kind of product on your website and if it is not bringing any profit, then you can quickly drop it from the list of your website.

    Disadvantages of Dropshipping

    Some of the disadvantages of the dropshipping model are:

    • You don’t know what kind of quality your product will be. A bad quality product may cause uproar and can be bad for your business.
    • You don’t have any control over the time the supplier takes while shipping the product to your customer.
    • While serving the customer, difficulties may arise, if there is a problem in communication with your supplier.
    • Dropshipping can be expensive as well, the market is quite competitive and if research is not done properly, then you might see other sites dropshipping the products at a much lesser cost.

    Future of Dropshipping

    In the past few years in the E-commerce business, there is an increase of business sites adapting to dropshipping model and in the future, it is only going to increase. Dropshipping can only be a profitable model for your business if you play all your cards properly and follow all the strategies carefully. For example, you have to be careful while selecting the dropshipping company for your business, proper research has to be done and then you can follow your plan.

    E-commerce sites if planned accordingly and follow this model properly will turn into a high return business and will be a source of great profit.

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    Conclusion

    For startups that are interested to try their hand at E-commerce, the dropshipping model is quite a good option for them.  With more and more startups emerging, it is just a matter of time before people will realize the model’s importance and need in their E-Commerce business.

    FAQ

    Does Dropshipping have a Future?

    Yes, dropshipping can easily turn into a profitable model for E-commerce sites as the model is a low-risk one.

    How did dropshipping start?

    Dropshipping started in the 60s and 70s when people used to receive catalogues by mails and could order items directly from the catalogue via phone, and have the company deliver them.

    Who is the most successful dropshipper?

    One of the most successful dropshipper is Irwin Dominguez. In just eight months, he made one million dollars worth of sales.

  • Work-life Balance is The Key to Corporate Survival in New Hybrid Work Culture

    Saransh Garg, CEO  & Co-Founder, Nova Benefits on revolutionizing employee wellness, and how employers can challenge stereotypes.

    In a hybrid era, perfecting work-life balance is key to corporate survival!!

    2021 has been a turbulent and testing time for organizations and employees alike, with the ongoing COVID-19 crisis hitting companies differently. The need of the hour is work-life balance, and it is crucial for organisations to understand employee pain points.

    Reports reveal a tectonic shift in the approach to employee wellness. There’s no doubt anymore that employee delight and overall company performance are closely interdependent and gravely impact work-life stability. Workforces, particularly those driven by Millennials and Gen Z, staunchly expect businesses to value their time, well-being, and intellectual fitness.

    There are several simple methods to support employees to maintain a healthy work-life balance – all you need is willingness! Let’s take a look:

    Keeping your ear to the ground: Providing counseling and physical health support to employees free of cost

    Both mental and physical health have been greatly impacted during the pandemic. Apart from offering employees the required support through counseling and health check-ups, it is important to create awareness on where employees can access these services. Employees should be encouraged to share how they are feeling, and feel safe to do so. It is important for organisations to listen and react. A central contact point should be created for employees, where they can expect quick responses to questions and concerns. Employers must also partner with online counseling services to help people with their mental health, and interpersonal relationships.

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    Inclusivity 24×7: Having an open-door policy, regular check-ins, and anonymous reviews within the workplace

    Clear and open communication channels are key to creating a healthy workplace environment, which uplifts employee morale. In traditional organizations, communication is a one-way stream that flows from top-down, making employees feel like they don’t have a voice. Engaging in open and honest conversations with employees can make them feel comfortable, and encourage them to address and speak about issues at work. There are simple ways to implement this using a feedback structure and regular reviews where everyone can present their opinion with the option of staying anonymous.

    Empathy always wins! Social and Community Outreach Programs

    Every organisation has several stakeholders who form a part of the larger community and workspace ecosystem. Building and maintaining a mutually beneficial relationship with the community is what defines ‘Community Relations’. The start point for ‘Community Relations’ is to identify the needs and pain points of the community, and offer solutions to address the same. Community outreach programs like fundraising, setting up vaccination camps for employees and their families, offering tiffin or creche services may contribute to happier and satisfied employees, boost employee morale, and foster a sense of “community” that is critical to long-term success and employee retention.

    Fostering wellness: Digital partnerships for employee well-being

    Employee wellness initiatives are a much-needed component to create a good and healthy work culture. Wellness is a balance of both mental and physical well-being. To address the same, companies can look at organising group activities like online workout sessions or virtual marathons which will help in employee engagement and keeping staff motivated. To ensure mental wellness, it is a great idea for organisations to avail corporate memberships with wellness apps, which offer a full range of services.

    Be resourceful: Get your employees the mental, physical and structural resources they need

    During the first and second waves of the pandemic, isolation and burnout were reportedly two of the most popular employee issues discovered. Isolation was comprehensible, but ‘employee burnout’ posed brand new challenges, creating barriers in personal and professional lives.

    Mental health assistance, along with new methods to develop organizational frameworks for a post-pandemic future. For instance, it’s mandatory to take a two-day break once every 45 days at Nova Benefits – this ensures that employees are getting the rest they deserve. Organisations also need to identify what employees might need – infrastructure, flexibility, professional help to deal with stress, anxiety, burnout, or lack of sleep – in order to do their jobs to the best of their abilities, with limited resources in a WFH set up.

    At Nova Benefits, we offer an unlimited leave policy, which also includes wellness leaves. Employees can take time off for their physical and mental health, and are also encouraged to express if and when they are feeling burnt out.

    We also advise our employees to try and clock in seven to eight hours of sleep every day. Keeping the current WFH scenario in place, our team strives to keep the workforce healthy and active, while at home.

    Feedback is fab! Make wellness surveys and feedback regular routine

    A feedback review isn’t always only for managers to give personalized feedback; it’s also an opportunity to examine employers, workplace culture, and leadership. Timely surveys demonstrate to workers that employers care for them, in addition to enabling the employer to enhance and elevate successful well-being benefits in the future.

    Conclusion

    The above cultural and process-driven changes aren’t complex but must be prioritized to ensure an organization’s rapid growth. Companies who have their work culture right, can see higher financial returns and outperform their rivals. How else are “Best Places to work at” built?

  • How to Start Earning From your Podcast? | 7 Ways to Monetize your Podcast

    Isn’t it true that many people enjoy listening to others talk a lot? Does it make sense, though, if I argue that podcasters can make a lot of money by podcasting their show? Okay, there are two ways of making a good amount of money from your podcast- direct way and indirect way.

    Direct monetization way, where you podcast your original content and sell copyrights only to exclusive subscribers. On the other hand, an indirect way of making money is by selling other products on your podcast, like promoting or advertising their products on your show.

    If things aren’t going well, all you have to do now is create demand for your content while earning money, rather than doing nothing. Those who are podcasting your show can earn plenty of money from advertising, asking for subscriptions, selling premium content for exclusive audiences, crowdfunding, conducting events in real life, and cross-media. Aside from these monetization strategies, there are a few ways to generate money from podcasts that are simple.

    Donation
    Paid Membership
    Crowdfunding
    Advertisements
    Sell premium content
    Link your Content to YouTube
    Create back catalogue
    FAQ

    Donation

    If you have gained reputation as well as trust from your audiences, then it is very much easy to earn money from asking for donations. If you offer your listeners to make a little gift as a donation, they will gladly pay a small sum to ensure that they continue to receive their favourite podcast’s content on a regular basis.

    Donation on Podcast
    Donation on Podcast

    Even for making a donation, you get an option as ‘Donation button’ on your podcast, where you have to select the mode of payment on which platform such as PayPal or even set up a donation campaign on your show.

    One of the easiest plus quickest ways in monetizing your podcast is through subscription, that too enrolling into premium tiers. People who admire your work as podcasters would definitely pay to access your first hand/exclusive content of yours.

    Paid Podcasts
    Paid Podcasts

    Furthermore, your admirers can listen to your unique material without any interpretations or advertisements. For this, you have to create a Patreon account, that would list out various subscription plans for your followers.

    Crowdfunding

    Another way of generating money from your podcast is crowdfunding, where large ventures come up together and make a pool of money on investing small capital. If you are a newbie to the field of podcasting, then crowdfunding is the best option to go, as you can earn a small amount of money from many supporters/investors to meet your show’s requirements.

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    Advertisements

    As you can see, I’ve already mentioned that promoting other companies’ items on your podcast earns you a lot of money. You don’t have to do anything; all you have to do is deal with reputable sponsors. Advertisement networks offer two methods of promoting their products: pre-roll, which you must do before the start of your show, and mid-roll, which you must do during your show/podcast.

    Sell Premium Content

    If you are popular enough, then make the content as premium versions, it’s a good way to make money. Make some interesting content or you can also invite a special guest to make it juicier. Do some interesting stuff with them, like ask some questions. Let the listeners have a peek at your content, it will boost their interest to listen to the rest of your content.

    Link your Content to YouTube

    Uploading your content on YouTube as videos to earn some satisfactory proportion of cash is one of the quick strategies. All you need to do is some editing, like adding some pictures, enabling monetization in your settings and the dispersion of money will be handled by Google.

    YouTube usually attracts more people, using some SEO tools you can also make more visible to the people and cash will heighten as the number of viewers rises. You will get about $0.50 to $2.00 per view.

    Create back catalogue

    Creating a back catalogue and charging a small amount of money to watch the old content is the best way to earn. Instead of putting some restrictions or making your new content premium content, you can create a catalogue with old ones that have some restrictions to access.

    To make it more interesting, give audiences a glimpse of the content, like what it consists of, make sure it is captivating. There are many podcasters that use this technique to earn.

    Conclusion

    As a result, all we carry to indicate is there is no one means to monetize a podcast, there are varied strategies to do it. You can select any method that suits you. In the end, all hinges upon the content you are posting. So make it interesting and captivating, it is one important factor that boosts the viewers and brings you cash.

    FAQ

    How much money can I make doing a podcast?

    You can make anywhere from $10 to $1000 from podcasts.

    How many views do you need on a podcast to make money?

    You need to build an audience of at least 5k to 10k listeners to monetize your podcast and attract sponsors.

    How do you monetize a new podcast?

    You can monetize your podcast by requesting donations, placing ads, or by selling premium content.

  • Insights of Indian Startup Ecosystem and Investment in Startups by Neeraj Tyagi, Co-founder of We Founder Circle

    Indian Startup Ecosystem is growing hugely. India stands third in global start-up ecosystem. With the changing trends in the Indian startup ecosystem, investors are getting attracted towards investing in startups. We founder Circle is a startup that provides investment service to help early stage startups.

    Here is excerpt of the interview with Mr. Neeraj Tyagi, CEO & Co-founder of We Founder Circle (WFC) about Indian startup ecosystem.

    Tell us briefly about yourself?

    We Founder Circle (WFC), a founders-led early stage startup investment platform born in the midst of the pandemic, plans to invest in 70 start-ups in FY 2023. Since the launch in 2020, WFC has become one of the fastest-growing angel networks with 33+ startup investments in a span of 12 months. WFC has already facilitated funds worth $150 million across 33+ startups by the end of December 2021 and became the 2nd largest Angel Investor of the Country.   Platform’s key investment includes Zypp, ObenEV, Lissun, Healthysure, Hesa, Glamyo Health, Geekster, YPay Card, EsportsXo and Settl.

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    How was the year 2021 for you as an investor/VC?

    In its first year of operation, We Founder Circle (WFC), a founder-led early-stage start-up investment platform, has successfully invested in 33+ start-ups spanning across 10 industries. Our community is strong by 2000 members that combines the extensive experience from angel investors, corporate leaders and unicorn founders. Our efforts were also recognized by the industry as we became #2 active Angel Investor Network in India. Our portfolio expanded to cover 10 sectors including EV, Agritech, Fintech, Edtech and D2C.

    How often do you bet on the entrepreneurs and not on the ideas? And when/if you do that, what quality of the entrepreneur usually makes you do that?

    An entrepreneur should be a high-energy, high-motivated individual. He or she should be on the move all of the time. At the same time, great degrees of commitment is required. A person can only do justice to his/her line of work if he/she is driven. Entrepreneurs are defined by their passion, resourcefulness, readiness to improvise and listen to others, and a strong desire to succeed.

    What is a warning sign for you when investing in a startup?

    1. Low quality products. Distinguishing oneself from the competition is a regular difficulty for any startup company. A company that is unable to deliver a high-quality or specialty product will most certainly be steamrolled by competitors that are already well-established.

    2. Loss of vision. A good business plan detailing the targeted markets, as well as a vision statement stating how the market will be penetrated, are required for a company to survive.

    3. A lack of progression. To thrive, a young firm needs rapid, yet scalable, growth. The reason is straightforward. There’s no guarantee that their loyal consumers will return the next day. It’s critical to seek out new ones as frequently as possible.

    What are some common biases you find in the Indian Startup ecosystem?

    Despite certain programmes aimed at promoting the growth of female entrepreneurs, there are still gender prejudices in the startup environment. Traditionally, India has shied away from professional risk and entrepreneurship. Though there has been a recent movement in young people’s attitudes, society still has a hard time accepting entrepreneurs. Instead of solving a consumer need with a fantastic product, the current generation is motivated to make money.

    Failure is also looked down upon in today’s society. Being an entrepreneur is like sleeping on a bed of thorns in a country that despises hard work and failure. The majority of parents compel their children to work hard in order to acquire a stable career, and they view entrepreneurial efforts with suspicion. It is difficult to build a vibrant startup ecosystem in any country when the youth are not inspired to pursue their own companies.

    What are your views on the SharkTankIndia Episodes until now?

    We definitely think Shark Tank India is taking entrepreneurship to every Indian household and is making conversations around startups the new normal. The business reality show is giving a much needed boost to the burgeoning Indian startup ecosystem and comes across as a platform to transform dreams into reality for all the budding entrepreneurs.

    We are seeing many startups exiting with IPO, what’s your opinion on that? How is it going to change the ecosystem?

    Because of lockdowns and other safeguards, the Covid-19 epidemic has aided the technology startup sector by driving more transactions online.

    Other factors include India having some of the world’s lowest data prices and an increase in smartphone ownership, which has allowed technological start-ups – many of which were created less than a decade ago – to reach a considerably broader audience. With a young population and internet penetration that is still well below its full potential, these businesses have a lot of room to develop.

    Companies aim to use the capital from new proceeds to expand as demand in the post-pandemic world is predicted to increase by a factor of ten. Overall, this is a very encouraging indicator for the Indian economy’s future prospects.

    More than 42 unicorns in 2021. What do you think caused this wave? Is the valuation justified according to you?

    This year was a wonderful year for Indian businesses, with 42 achieving unicorn status. In 2021, more startups joined the club than in the previous five years combined. The record fundraising boom is projected to continue in the coming year, thanks to India’s increasing embrace of technology and new startup products. With only nine days left in the year, there’s a good chance we’ll see a few more surprises. It’s true that financing for 2021 is at an all-time high. The enormous number of unicorns, as well as a succession of successful IPOs, has piqued the curiosity of investors from all over the world.” I also credit India’s huge talent pool, quick technological adoption, and COVID-generated tailwinds for the increasing number of Indian enterprises making an impact on the global economy.

    How can we support/ enable entrepreneurs in tier2 and tier 3 cities?

    Close to 30% of our portfolio startups come from Tier 2-3 cities. We are big believers of ideas that are thought locally and aim to reach markets globally.  In order to support these local entrepreneurs all we need is to build a strong startup ecosystem that offers co-working spaces, right mentors and angel investor networks, startup weekends and some business partnerships for these startups to grow.

    What are a few sectors you think would be hot in the upcoming year?

    For 2022, EV, Health Tech, D2C, Automobile Tech, Fintech, EdTech, Food Tech are going to be the hottest sectors. Keeping the same in mind, WFC is focused on start-ups in such sectors to help them grow.

    One learning that you would like to share with founders who are looking to raise funds?

    Always focus on your pitch and business model. Before approaching any investor, you should be thorough with the scope of your industry and start-up. The clearer your vision is, the better the impact on your investors.