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  • Why did Dunkin Donuts fail to set its foot in India? | Dunkin Donuts Failure

    TBH, Nothing brings people together life a Good food, and when it comes to Indian food culture then it’s a feast for sure. As it is cited India is a diverse country with profuse mélange languages, cultures, customs and cuisines, say, South Indians focus on Sambar & Idly, whereas North Indian prepares Roti & Sabzi. Besides, We adopt western culture into our lives in many ways such as their lifestyle, political systems, technologies and cuisine.

    For instance, People love to eat French fries, burgers, waffles, pizza and doughnuts as a result many MNC fast-food restaurants have incorporated in India such as KFC, McDonald’s, Dominos, BurgerKing and Dunkin’ Donuts. But, some businesses aren’t going well in India due to its waning survival factors in the market. Pertinent, Dunkin’ Donuts is one such MNC, that didn’t go well in operating profit in India.

    Dunkin Donuts is known for its recipe in preppering coffee and doughnuts as well as a quick-service restaurant worldwide. The company initiated their services back in 1950 in Quincy, Massachusetts and was founded by William Rosenberg covering over 12000 stores all over the world.

    Why didn’t Dunkin ‘Donuts do well in India?

    Usually, Indians follow a soft food diet for breakfast, whereby kichadi or idly is considered to be palatable food to have first thing in the morning. Meanwhile, nobody is willing to consume sugar-contained fast food for breakfast, repercussions may leave you an upset stomach.

    That’s where, Dunkin Donuts incorporation made its existence in India in 2012, intending to thrive the sale of doughnuts and coffee all over the nation. But ultimately failed to perceive the Indian food culture which they have followed for centuries.

    Items in the menu
    Food Culture in India
    Price
    FAQ

    Items in the menu

    Dunkin Donuts’ menu is somehow sound tedious for Indians, as the restaurant serves doughnuts  as their main dish. Where we prefer eclectic food to one ilk of food with different flavours.

    For instance, KFC contains a variety of fast-foods such as burgers, salads, wraps, Chicken wings, Beverages, sandwiches and more. Whereas Dunkin Donuts menu follows a confined food list for the customers that ends with no choice and go for doughnuts.

    Dunkin Donuts
    Dunkin Donuts 

    In order to thrive in the Indian food market, KFC played well in bringing up Indians’ favourite item- Chicken buckets that hyped the margin of the company till now.

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    Food Culture in India

    As said, Indians usually go for savoury food, as India is largely known for spices, masalas and curries. They prefer eating Dosa, paratha or idli in breakfast and not something sweet like doughnuts. Moreover, India follows different cuisines in different regions, where Dunkin Donuts overlooked the expectation of people in fast food. Whereas, we prefer chai (Tea) to some iced beverages or espressos.

    Indian Food - Dosa
    Indian Food – Dosa, Idli, Medu vada

    Price

    Price is the main factor, which determined the burgeoning branches of Dunkin Donuts in India, where the brand sells two doughnuts whose average cost is around 600 rupees, which is quite overpriced when compared to the budgeted price of an average salary individual.

    Paradoxically, Starbucks- The world’s largest coffee house, succeeded in its market in India even though the restaurants have premium-priced products, where the company agreed to a joint venture with Tata and operated over 2000 stores in India.

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    Conclusion

    Spicy and flavourful foods are what Indians love to have. Doughnuts are not the food the Indians would like to consume often. Dunkin’ Donuts is one of the biggest coffee and food chains in the world. And it is booming in other countries, but Dunkin’ Donuts didn’t understand the taste of Indians. People here prefer spice over sweet.

    People love trying new food, so there are still chances for doughnuts in the market. But will Dunkin’ Donuts get prosperous in India like the other countries is a question that only time can answer?

    FAQ

    Who owns Dunkin Donuts in India?

    Jubilant FoodWorks owns Dunkin Donuts in India.

    What is Dunkin Donuts?

    Dunkin Donuts is an American coffee and doughnut company.

    Who is the founder of Dunkin Donuts?

    William Rosenberg is the founder of Dunkin Donuts.

  • What is Tax Haven? | How Tax Havens Works?

    Tax revenue maintains the nation afloat. But not all taxpayers perform the same set of policies and rules. By supporting attorneys, accountants, white-shoe experts, and complicit Western governments, the affluent and well-attached have ignored spending trillions of bucks in taxes. The rest of us surround the distinction or, generally, can’t, leaving capital needed to build roads, schools and deal with existential menaces like environmental change and widespread pandemics.

    Tax havens make it all likely to be feasible and possible too. By some estimations, almost 10% of the gross production of all the economies in the civilization is placed in offshore monetary hubs, maintained by shell corporations that exist only on paper. The taxes to governments, in lost revenue, is totaled to surpass $800 billion a year.

    The wealthy preserve the capital to create inter-generational riches, building a modern and new global noble class and worsening the dividing range between the global haves and have-nots. Multinational companies use more cash to cite shareholders and edge out smaller competitors.

    Nations that require tax revenue the most lose more tax money as a percentage of GDP than wealthy countries. As with other inequities, the poor get it the worst.

    What is Tax Haven?
    Tax Haven Countries
    How does Tax Haven work?
    Who Uses Tax Havens?
    How Do The Companies Benefit From Tax Havens?
    Is Tax Havens legal or Illegal?
    Is Luxembourg A Tax Haven For India?
    Conclusion
    FAQs

    what is tax havens? | Tax Haven meaning

    What is Tax Haven?

    There is no particular definition, but tax havens, or offshore monetary centers, are commonly nations or areas with no corporate tariffs that permit outsiders to establish companies quickly. Tax havens commonly curb public exposure to companies and their proprietors too. Because data can be hard to drag, tax havens are also called secrecy jurisdictions or private authorities. Tax havens mostly always refute surviving as tax havens.

    Tax Haven Countries

    Tax Haven Countries
    Tax Haven Countries

    Let us know more about Tax havens by knowing where they’re found. One can find it all over the world. Some are independent and self-reliant countries, like Panama, the Netherlands, and Malta. Others are within countries, as the U.S. state of Delaware and in the territories, like the Cayman Islands.
    Several inquiries have indicated other tax havens, often relying on the origin and subject of papers, such as, the Panama Papers, which disclosed how Mossack Fonseca, one of the massive offshore law firms in the world, sold thousands of shell firms in the British Virgin Islands to buyers around the world.

    On the other hand, Mauritius Leaks analyzed how firms used Mauritius to avoid taxes. At the same time, Paradise Papers disclosed the secrets of Bermuda, the isle where the law company Appleby laid the first stone.

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    How does Tax Haven work?

    Tax havens are not inevitably tax-free. They usually charge a rate of taxes significantly lower than the rate of taxes compared to other nations. They typically wrap this loss of revenue through other sources, like by charging massive taxes on import duties, policies, etc.

    They may charge high and even recurring taxes for a firm enrollment and other fees, such as license fees, etc. Hence, the government makes up for the revenue lost due to the reduction in tax prices.

    Tax Haven Meaning | tax haven Countries

    Who Uses Tax Havens?

    Wealthy but contrarily “average” community, involving dentists and at least one Alabama greengrocer, use shell companies for motives. These may encompass preparing it difficult for credible creditors – such as displeased business partners, or tax inspectors, former spouses to observe and regain monies allegedly owed. Investments earned through tax refuges can be very lucrative, owing to the significant tax savings offshore firms may relish.

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    How Do The Companies Benefit From Tax Havens?

    Businesses, particularly those that transact across boundaries, can relish substantial tax savings by routing expenditures, earnings, or enterprises through assistants in offshore monetary hubs.

    For example, a giant pharmaceutical firm might establish a new entity in Bermuda or the Netherlands and “sell” that entity a document for a profitable drug. The parent firm might then spend a massive licensing fee on the offshore company, enabling it to compute lower profits at home and pay a lower tax charge. Drugs company have avoided billions of dollars in taxes of this kind.

    Every year, many companies avert spending more than $500 billion in taxes adopting strategies like these. Some pay little or don’t pay at all in their home countries.

    When a company says that it pays the taxes it owes, it means the tax mantra. It permits companies to emerge to be good corporate dwellers but does not deny that various firms use loopholes (some later found to be illicit to avoid paying taxes.

    Tax havens have been cited as “global black holes,” which are adopted to protect the money of the rich and powerful. When tax havens are noticed in such a way, they seem to be illegal, formulated to soothe the wealthy rather than encourage development, which is one of the primary purposes of collecting tax. And, this is not entirely true.

    The basic tenet of Public International Law is that of “Sovereignty”. It implies that each sovereign country has the only ability and power to govern its internal affairs and legitimate system. It is upon the government as to whether it prefers to charge tax and to agree on the amount of tax it wants to impose. Thus, this procedure of building a tax haven is not unlawful by itself.

    Still, in the age of large globalization, building offshore shell companies are simple. Many companies utilize such tax havens to change the positions of their earnings to such tax havens with the only motive of avoiding taxes, as seen in the example explained above. Such action may be illegal, as it destroys the tax root of the nation, which is something every responsible citizen of that nation is responsible.

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    Is Luxembourg A Tax Haven For India?

    Luxembourg, a country that captivates a massive amount of Foreign Direct Investment (FDI), is entitled to be one of the essential tax havens in the realm. Low tax and inflation rates, a booming market economy, and their priority on financial privacy make Luxembourg the excellent place to avert the pressure of paying fees.

    Luxembourg is ranked at 6th position as one of the most significant enablers of monetary privacy globally by the Tax Justice Network. Though, Luxembourg does not look like it to be such a fairy tale garden for tax evaders anymore.

    If it is created that the main purpose of such investments and agreements is to avoid taxes, then the advantage of the Treaty will not be ready to the person making such investment, and according to Indian Law, their earnings will be taxed in India, therefore precluding tax evasion.

    Conclusion

    Efforts are being given rise by global organizations like the Organization for Economic Co-operation and Development (OECD) and other nations. It is to avert tax evasion through the exploitation of international laws. The beginning of the BEPS Action Plan and the consequential amendment of DTAAs to form MLIs is a considerable effort to prevent tax evasion.

    However, while steps are taken to prevent the method of Base Erosion and Profit Shifting. It’s very tough to shut all the loopholes as the sovereignty of the nations cannot be altered.

    FAQs

    What is called tax heaven?

    A tax haven is any country or jurisdiction that offers foreign businesses and individuals minimal tax liability or Interest Tax Shields for their bank deposits in a politically and economically stable environment.

    Which countries are tax free havens?

    Some of the Tax havens are are:

    • Switzerland
    • Netherlands
    • The British Virgin Islands
    • Bermuda
    • Panama
    • The Cayman Islands
    • Luxembourg

  • Top 7 Tax Saving Investments under Section 80C

    Tyro professionals are incipient every year, so the tax is levied as much a burden or responsibility to them. However, those fledgling employees/professionals become seasoned ones, someday and may see an uplift or augment in their income in the coming years, thus this will increase the burden as well as responsibility to pay high on income tax.

    As is the case, high incomes represent high tax levied on individual incomes and vice-versa. This will reflect a slow-down in the development of future plans of a person, when he/she is paying a high share of tax in the present. And, in such cases, when the taxpayer has paid a superfluous share or underpaying on the prescribed tax, is solicited to make sure to file a return.

    That’s where the Government of India introduced various Tax-saving investments to progress financial stable career paths in the future.

    Here are Top 7 Tax-saving investments you can invest in 2021:

    Bajaj Life Insurance Capital Guarantee Solution
    Bajaj Allianz Life Goal Assures
    Canara HSBC OBC Life Insurance investment 4G
    Edelweiss Tokio life Wealth secure plus
    Max life Online Saving plan
    HDFC Life Click2Wealth
    ICICI Prudential life signature
    FAQ

    As said, the future is uncertain, we don’t know what will happen the very next moment? In some cases, only the invested or saved amount of an investment lends as a helping hand in the forlorn situations in the future, despite getting a low rate of return on such investment. Similarly, business is uncertain in various factors such as market price, trends, capital value or profit etc.

    Bajaj Life Insurance Capital Guarantee Solution

    Bajaj Allianz has come up with its new scheme on tax-saving in 2021- the Bajaj Life insurance Capital Guarantee solution that aids individuals to earn a 100% high rate of return on the investment amount which is piqued to 16.3% in the market as of now. Besides, the schemes provide zero risks and no commission is charged on the invested amount.

    Eligibility: This policy/scheme is applicable to 18-65 years.

    Policy term: 20 years

    Benefits: Bajaj Life insurance Capital Guarantee solution bestows zero risk as well as commissions on the invested amount. The policyholder gets the benefit of partial withdrawals.

    This tax-saving plan allows the policyholder for multiple withdrawals and no tax levied under section 10 (10D). Therefore, inbuilt life covers a maximum of 12 lakhs throughout the policy term.

    Bajaj Allianz Life Goal Assures

    Health is wealth, as we see the reality of the ongoing pandemic really made many individuals enroll on the tax-saving scheme- Bajaj Allianz Life Goal assures. Moreover, we have loads of obligations to fulfil, from education to living under a safe roof and for all that we need a sturdy amount of money to acquire. Because of this, Bajaj Allianz Life Goal Assures provides financial support to individuals as well as his/her family throughout their lives in accomplishing their needs.

    Eligibility: This policy/scheme is applicable to 18-60 years.

    Policy term: 10-30 years

    Benefits: Bajaj Allianz Life Goal Assures offers special loyalty additions on augmenting maturity value at the time of every 5 years of the policy term and mortality charges which have been deducted in the policy term, will be added to the return fund at the time of maturity.

    The tax-saving scheme comes with zero commission as well as tolerating partial withdrawals. Apart from that, this scheme permits the policyholder for flexible transfer of different funds in order to maximise the return in various markets.

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    Canara HSBC OBC Life Insurance investment 4G

    This tax-saving scheme covers the demise of the policyholder or their beloved one in the family by supporting them financially. The sum assured is expected to be 105% of total premiums which will be received either at the time of maturity/death of the holder or take the fund amount in periodic instalments under the Settlement Options(SO).

    Eligibility: This policy/scheme is applicable to 18-65 years.

    Policy term: 10 – 30 Years

    Benefits: Canara HSBC OBC Life Insurance investment 4G benefits in providing loyalty additions and wealth booster during the policy term. Besides, this scheme offers flexible transfer of invested funds, partial withdrawals, tax exemption, Settlement Options are available to the holders in case to receive benefits on the maturity and Premium redirection is available if the policyholder wants to modify the allocation of future premium into one ULIP fund or more.

    Edelweiss Tokio life Wealth secure plus

    This tax scheme comes with a combo of insurance plan and investment plan, which is built to protect the wealth of an individual in the present as well as for future generations. The scheme gives 15 lakhs in 30 years if a premium of 8% per annum is paid.

    Eligibility: This policy/scheme is applicable to 1-55 years.

    Policy term: 10-20 years

    Benefits: the fund value will be received either at the time of maturity or death of the insured, not taxable, offers three additions- Loyalty addition at the 6th year of the policy term, Wealth booster addition and Maturity addition.

    Max life Online Saving plan

    Every individual chooses to join a savings insurance plan so that they and their family can get financial support in times of need. If you want to protect your dear ones the Max life online saving plan is what you are looking for.

    Eligibility: This policy/scheme is applicable to 18-60 years.

    Policy term: 5 years to the selected policy term for maturity.

    Benefits: In Max life, an online saving plan, the total premium paid till the date of death is 105%. The insured can also renounce during the policy term, the person will be funded the sum minus the charge from when they discontinued. Till the last days, the insured will receive the fund value.

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    HDFC Life Click2Wealth

    HDFC Life Click2Wealth is the same as other insurance that not only supports you but also your family. They give us many alternatives in which we can choose the best that suits us. No policy loans are available. The insured person’s family has benefited accordingly if the person dies. Grace periods are also available as per the plan.

    Eligibility: This policy/scheme is applicable to 18-75 years.

    Policy term: 10 to 40 years

    Benefits: The policy has maturity and death benefits. The fund will be growing even after the policyholder dies as per the premium waiver option. The Premium modes contain many options from which you can choose the best instalments. 1% of the annual premium is added to the fund value. They have 10 fund options. After 5 years, the policyholder can withdraw the money.

    ICICI Prudential life signature

    A unit-linked insurance plan that supports you to achieve your goals and protects your family. In a systematic plan, Withdrawals in Regular intervals are allowed to support your dreams. Monthly, half-yearly and annual are the three premium paying modes.

    Eligibility: This policy/scheme is applicable to 18-75 years.

    Policy term: 10 to 30 years

    Benefits: After the mature period, the policyholder can choose to withdraw the whole amount or choose a structured payout. The insured will receive the top fund value even if the policyholder dies with a minimum death benefit. The insured is exempt from tax for the premium amount as per section 80c and section 10D.

    Conclusion:

    Everyone wants to see their loved ones lead a happy and wealthy life, even if they are not present to witness or share the moments with them. Life is precarious, no one can guess what tomorrow will hold for us, so start planning, it’s never too late to start. If you are in search of a path that can help you to lead a financially secure life, then we suggest you seek assistance from any of the above-mentioned insurance companies.

    FAQ

    How to save tax in 2021?

    Life Insurance, ULIP’s, Mutual Funds, Tax Saving Fixed Deposit, SCSS or Senior Citizens Savings Scheme and Provident Fund are some of the ways you can save tax.

    What is Section 80c?

    Section 80C is one of the most popular section that allows taxpayers to reduce their taxable income by investing in various schemes.

    Is your savings account taxed?

    Yes, any interest on your savings account is taxable income.

  • Advantages and Disadvantages of Startup Business loans

    Sitting on a brilliant business idea with no money to back it up? Funding is a tricky issue for most startups. Finding an investor is always difficult, and the lack of money gives most entrepreneurs jitters in the initial days. That is when they look at startup loans or guaranteed payday loans – two interesting funding sources you too must have heard of.
    While business loans are helpful in most situations, they have some disadvantages too. Let’s have a look at both the pros and cons of startup business loans so that you can decide if they’re the way for your startup.

    Advantages
    Disadvantages
    Conclusion
    FAQ
    Casestudy on startups fail due to loan

    Advantages

    Keep control of your business

    Everybody wants to upscale and keep all their business’ shares with themselves. This pleasant situation is made possible by business loans. The owners keep their company’s hold and also enjoy the luxury of upscaling their startup.

    With investors comes the hassle of managing the board with their preferences. Having distributed stocks reduces your profits with time. Lenders usually have no interest in your management. They care only about money and give out loans without asking for extra perks.

    Temporary in nature

    Business loans are for a limited time. After the whole loan is repaid, the lending institution won’t bother you. On the other hand, attracting investors comes with an obligation to pay dividends to the shareholders regularly, which may last as long as the company.

    With time, the dividend sum increase with the increase in the company’s worth. Startup business loans, on the contrary, reduce steeply as you keep repaying. This temporary nature of loans makes them worth a try for those looking to stay financially freer.

    Build business credit

    As the company grows, production increases rapidly, and so does the need for money. Even if you did not start your company with a loan, you might need to expand or design a new product or service.

    A credit score is important for lenders to consider your loan application. Taking a startup loan and repaying it on time can get your company a good credit score, opening the gates for future loans. Without a credit record to build on, some lenders might not give you a loan later if you need one to expand.

    Personal Wealth Can Be Safeguarded

    A starting business loan might assist you to separate your personal money from the finances of your company. Every new business initiative carries a risk; even the most well-planned venture may confront challenges beyond your control as the owner.

    Disadvantages

    Not easy to get

    Getting startup business loans approved is a tough cookie. Unless you already have an established business or some collateral to pledge, there’s very little chance that a lender will trust you.

    With the recent financial crunch they have found themselves in, banks and NBFCs have a strict policy concerning lending. Only businesses which they believe can repay the loan can get the loans. With such high scrutiny, it becomes infinitely difficult for a new and fresh startup to get loans. The difficulties in availing of loans are decreasing with time, but the hassle is significant even today.

    A high rate of interest

    Lenders’ most significant way to earn money is through interests. These interests can break the backbone of any small business. As a small business owner, it gets challenging to manage the competition and interest rates all at once.

    As time passes by, every business faces a low-revenue phase. High-interest rates during those low phases can hurt you even more and potentially result in bankruptcy. Interest accrues as you delay payments, and you might soon find yourself into a black hole of financial trouble. To avoid this, however, you can plan repayments efficiently and opt for lower-interest loans.

    Less Money to Invest in Business

    Startup loans naturally come with a repayment obligation. As you repay heftily to the bank every month, you will be left with little cash to reinvest in your business’ growth. You might even have to compromise on buying equipment or hiring new employees.
    These restrictions can hamper the speed at which you had envisioned your business growing. However, better cash flow management can save you from this trouble as well.

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    It’s Possible That Your Credit Will Be Ruined

    Your personal money will not be safeguarded by a small business loan. Because lending to small businesses has a higher risk, many financial institutions want a personal guarantee, which means the bank can pursue you for repayment if the business fails. As a result, your credit score and assets may be affected.

    If you’re concerned about the impact on your personal credit, we recommend waiting a few months until your company is more established. That way, you’ll be able to pay back your loan on schedule while maintaining your good credit.

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    Casestudy on startups fail due to loan

    Katerra

    Katerra, a modular construction company, filed for Chapter 11 bankruptcy protection in early June 2021. In 2018, the SoftBank-backed unicorn was valued at $3 billion and had raised over $1.5 billion in total capital from Khosla Ventures and Greenoaks Capital Management, among others.

    Although mismanagement was regarded as the cause of the company’s demise, the failure of lender Greensill Capital just three months prior also played a factor.

    While SoftBank was funding Katerra directly, Greensill, a SoftBank Vision Fund recipient ($1.5B), was also funding Katerra, demonstrating SoftBank’s portfolio’s interconnectedness. This downward spiral has caused some to question SoftBank’s Vision Fund’s viability, especially in light of the 2019 collapse of co-working unicorn WeWork, in which SoftBank was the principal investor.

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    Madefire

    At the beginning of April 2021, Madefire, a digital comics firm, went for an assignment of benefit for creditors (ABC), an alternative to official bankruptcy. For many Madefire users, this was a surprise announcement, as they had been given until the end of the month to download their purchases.

    Several digital comics applications, including Archie Unlimited and IDW, were also taken down as a result of the Madefire app. Despite having a diverse roster of musicians and investors, including Dave Gibbons and Drake, the organisation died in the face of competition.

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    Conclusion

    As you think and analyze the advantages and disadvantages of bank loans, understand that opting for a small amount to start your startup is not a bad option if you are a good planner. You may look at guaranteed payday loans in the beginning and think about other options later.

    Qualifying for a small business starting loan, on the other hand, could mean having money to start a firm without having to repay loved ones or investors who demand ownership in exchange for their money. Before deciding to pursue this lending option, small business owners should analyse all factors.
    Let us know what you think about taking a business loan for your budding startup in the comments below.

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    FAQ

    How do Business loans Build Business credit?

    As the company grows, production increases rapidly, and so does the need for money. Even if you did not start your company with a loan, you might need to expand or design a new product or service.
    A credit score is important for lenders to consider your loan application. Taking a startup loan and repaying it on time can get your company a good credit score, opening the gates for future loans. Without a credit record to build on, some lenders might not give you a loan later if you need one to expand.

    Is Business loans are easy to get?

    Getting startup business loans approved is a tough cookie. Unless you already have an established business or some collateral to pledge, there’s very little chance that a lender will trust you.
    With the recent financial crunch they have found themselves in, banks and NBFCs have a strict policy concerning lending. Only businesses which they believe can repay the loan can get the loans. With such high scrutiny, it becomes infinitely difficult for a new and fresh startup to get loans. The difficulties in availing of loans are decreasing with time, but the hassle is significant even today.

    It’s Possible That Your Credit Will Be Ruined?

    Your personal money will not be safeguarded by a small business loan. Because lending to small businesses has a higher risk, many financial institutions want a personal guarantee, which means the bank can pursue you for repayment if the business fails. As a result, your credit score and assets may be affected.
    If you’re concerned about the impact on your personal credit, we recommend waiting a few months until your company is more established. That way, you’ll be able to pay back your loan on schedule while maintaining your good credit.

  • How Future Technologies Will Help Us Do Housework?

    The Fourth Industrial Revolution (4IR or Industry 4.0) is on the verge of happening. It is believed that the revolution will have a great impact on human life and put the human race far ahead. According to the experts, certain chores like washing clothes and dishes have already become more convenient due to technological revelations. It is expected that it will continue and eventually reach the point where most people will save almost two hours a day leading to over 15 hours a week or more than 33 days a year on doing chores.

    The global market for Robotic Process Automation (RPA) is anticipated to reach US$8,781.2mil (RM370mil) by 2026. RPA will eliminate manual errors and reduce the time needed for daily processes. RPA will also reinvent careers, shifting from task-based roles to leveraging human adaptability and problem-solving. New job opportunities are anticipated with a growing demand for RPA professionals.

    Helping Hand For Your Household Chores

    Today, drones are well known as data capture devices with a camera. Drones are valuable for their combination of mobile hardware and internet connectivity. VCs have invested a total of $1.5 billion since 2012 in drone commercial startups that are shaping the industry. But in the future, we’ll see them perform the full lifecycle like capturing data, analyzing this information, and then acting on it. We’ll see agriculture drones protect huge fields, detect weeds and other issues follow up by sending commands to drones that can spray a herbicide. These future technologies in homes will be very helpful.

    Drones are being used to quickly deliver goods, broadly study the environment and scan remote military bases. Drones have been employed in security monitoring, safety inspections, border surveillance, and storm tracking but drones that run themselves require some level of artificial intelligence to guide their actions on the proper path.

    Today’s drones are still limited by their human controllers but the next generation of drones will be powered by artificial intelligence. AI will allow drones to make decisions and operate themselves on the behalf of their human controllers. Improvements in drone technology, the evolution of AI and improved algorithms will make drones more useful.

    Similarly, another technology – Augmented Reality (AR), which superimposes an image onto a user’s view of the real world and enhances it with sound, touch and even smell, will play a vital role in the future. Big brands have already started using AR outreach but it still needs momentum from creators, developers and marketers to make it accessible for anyone and everyone.

    These technologies will be highly used for household purposes. As consumers become more comfortable with AR, their presence will become a more continuous expectation. Experts have given their top predictions for what house technology will revolutionize home living in the near future. Not only this, even changing bedsheets, watering plants, plumping up pillows and ordering food are also expected to be automated. According to futurologists, around 90% of household chores will be automated by 2040, thanks to robots, drones and AI.

    Some of the future technologies that would help us do the housework are discussed below.

    1. House Robots
    2. Multi-Function Drones
    3. AI Butlers
    4. Reverse Microwave
    5. Self-plumping Pillows
    6. Washing Balls
    7. Super Smart Fridges
    8. Printed Food
    9. Virtual Chefs
    10. Robotic Lawn Mower
    11. Robot Vacuum

    Frequently Added Questions – FAQs

    House Robots

    House Robots doing all the household chores.
    House Robots doing all the household chores.

    Today, even though robots are being used for many purposes such as in industries, airports, medical, etc., they haven’t become part of houses yet. But it is predicted that in the future, robots will start appearing in households by 2030. They may cost around £25,000 at first.

    These robots will be able to perform all types of household chores that we humans do today. The bots will be able to load the dishwasher and put away pots and pans, fold the laundry, change sheets and move furniture and so on. These robots will be self-training bots which mean humans don’t need to teach them how to perform a particular task.

    Multi-Function Drones

    Drone is supposed to be the future of parcel delivery.
    Drone is supposed to be the future of parcel delivery.

    It is expected that the tiny drones will be commonplace in the 2030s and they will be priced around £1 each. These drones will also help in performing households chores to save time and effort. These drones will have lights, sound, cameras, microphones, sensors, robotic arms, wave cancellation technology, or wave enhancement technology.

    Drones are distributed sensors that make the internet smarter. They can serve as a platform on which different applications, software, and business models can be built. These drones will pick up dirt and clean surfaces, with variations and also be able to water plants and monitor security around the home. Some drones will shine an infrared beam at a room’s occupant to warm them as they move around the house.

    Virtual and Augmented reality and its impact on India
    In the 21st century, technology is everywhere, its replacing blackboards in theclasssrooms, paper models in projects, videogame controllers to VR headsets, ithas brought the pokemons from our television screens to the floor in our house.All of this has been made possible using AR and VR which sta…
    StartupTalkyYash Gupta

    AI Butlers

    Artificial Intelligence Butlers are coming to do all your household chores.
    Artificial Intelligence Butlers are coming to do all your household chores.

    As mentioned above, house robots will perform many in-house tasks. Similarly, Artificial Intelligence Butlers will be one of the biggest game-changers. They are best imagined as extremely advanced versions of Siri or Alexa. This will be teachers and trainers also.

    The AI Butlers will take control of all the routine life of human-like paying bills, managing subscriptions, doing your shopping and constantly monitoring ways to save time and money for humans. This will also serve as personalized practice partners to help with homework and reinforce what children have learned that day in school.

    Reverse Microwave

    As the name itself suggests, unlike today’s microwave oven, these ovens will be designed to cool things down in seconds so wines and beers can be chilled in seconds rather than hours. This is expected to be one of the coolest inventions in the future.

    According to experts, this product has already been in the developing stage. The company developing this product has named Juno. This product is currently at the testing stage, having been previewed at many tech shows. The product was developed in order to rapidly chill white and red wine using “reverse microwave technology”.

    The gadget is capable of chilling a full-size, 75cl bottle of white wine to 50 degrees Fahrenheit (10 degrees Celsius) in just three minutes, while a bottle of beer can be cooled to the correct serving temperature in less than a minute. Juno can also be used to chill soft drinks including coffee and canned fizzy drinks.

    It features just three controls, which come pre-set for the recommended red and white wine temperatures, with an additional option to customize your preferred chilling level.

    Make Your Home Smarter With These Home Automation Startups In India
    Indian startups have ventured into a wide range of domains. In this article we have listed some home automation startups in India.
    StartupTalkyDisha

    Self-plumping Pillows

    Ensuring good sleep and cushions, these pillows are re-plumped when someone gets up from the sofa or bed. These are already being sold in markets but in the future, it is expected to have good quality and precision in this technology.

    With the rise in sleep technology and a number of new bedding and mattress companies launching on the market, there’s never been a better time to take stock of how you sleep and what you sleep on.

    Washing Balls

    These Washing Balls might replace Washing Machines in Future.
    These Washing Balls might replace Washing Machines in Future.

    A washing ball is nothing but a tennis-ball-sized ultrasonic device that uses ultrasound to clean. It is also known as a laundry ball and is a product promoted as a substitute for laundry detergent.

    This ball will be placed inside a pile or bucket of clothing to clean clothes without the need for a bulky washing machine. These balls will be environmentally friendly
    alternatives that can reduce water and energy consumption.

    Super Smart Fridges

    There are already smart fridges in the market but Super smart fridges will learn what you eat. They will be able to reorder when stocks are low and even recommend recipes based on the contents of what you like and tell you expiry dates of what’s in your fridge. They will also have Alexa built-in, which makes the kitchen chores easier.

    Most of these fridges will have a super wide-angle camera mounted inside the fridge so that you can see what you have right from your smartphone when you’re at the grocery store. So you don’t need to worry about making a grocery list before going shopping.

    Grofers—Grocery Delivery At Your Doorstep With Just One Click
    Grofers is an e-commerce marketplace for your daily grocery shopping. It allows you to shop various products online and get grocery delivery at your doorstep with just one click.
    StartupTalkyRishabh Rathi

    Printed Food

    3D food printing is able to make dishes from different pastes and materials, so it seems we are getting closer to the science-fiction concept. Such innovations are already being offered by different manufacturers: 3D Systems’ ChefJet, Natural Machines’ Foodini, BeeHex’s Chef3D, etc. These are all machines that can make chocolate, pasta, sugar and even more dishes.

    This technology was first developed for 3D food printing in space travel. In 2006, NASA began researching 3D-printed food. If we take a look back at our world, we can see that there are many opportunities to use technology in the food industry. Many companies have recognized the opportunities and are taking advantage of 3D printing different foods, from sugar and chocolate to pasta and vegetable mixes.

    Virtual Chefs

    Virtual Chef will help you with cooking techniques.
    Virtual Chef will help you with cooking techniques.

    This is an application of Augmented Reality(AR). Augmenting the physical world with interesting and shareable content has been the focus of AR in experiential marketing. In the next 20 years, we will see virtual chefs appear as holograms to help us cook every step of the way.

    Augmented and virtual reality play naturally into this shift. Both are vehicles to activate all senses and immerse the consumer within a specific branded experience. AR experiences in particular have seen growing traction for use during food & beverage events.

    Amalgamation of AI in Food Tech Industry of India’
    The Indian food industry has evolved by adopting the new age technologies foroperating seamlessly. Companies backed by artificial intelligence have asignificant advantage over the companies not using AI. Big players like Zomato[/tag/zomato/], Swiggy [/tag/swiggy/] and Foodpanda have embraced the …
    StartupTalkyShubham Kumar

    Robotic Lawn Mower

    A robotic Lawn Mower will automatically cut the grass without human intervention.
    A robotic Lawn Mower will automatically cut the grass without human intervention.

    To many homeowners, lawn mowing is such a tormenting task. This robotic lawn mower is a fine piece of modern technology that will reduce your time as well as the energy you spend on mowing the grass by sickle. It is quite convenient and easy to use. Now, you need not juggle between your other household chores, you can simply input the settings and the device will automatically cut the grass.

    When buying a robotic lawn mower, you can consider the following things:

    • Your lawn size
    • Battery capacity
    • Slope gradient
    • Obstacle manoeuvring
    • Mower controls
    • Safety
    • Weather protection (like rain sensor technology)
    • Brand reputation and pricing

    Robot Vacuum

    Robot Vacuum will help to minimize the amount of work that homeowners need to do.
    Robot Vacuum will help to minimize the amount of work that homeowners need to do.

    Keeping your indoor environment is quite a hectic and tedious task especially if you’re an office goer or busy type of person. In order to keep your indoor environment clean and healthy, frequent vacuuming should be part of your housekeeping routine. It helps to reduce the amount of dust, mites, mould spores, and other pollutants settled on your floors, carpeting, and upholstery.

    But thanks to today’s advanced technology, we have robot vacuums in the vicinity. It is easy to use, noise-free and autonomous cleaning as main advantages. They are efficient at keeping your tiles, carpets, and wood flooring free from debris and different kinds of dirt. Some of them are so advanced that you can monitor them via an app on your phone. Just choose a starting spot, set the timer, program the cleaning space, and you are good to go.

    Frequently Added Questions – FAQs

    What technologies will be used in the future?

    • Artificial Intelligence (AI)
    • Augmented Reality
    • Big Data
    • Bioprinting
    • Cloud Computing
    • Genetic Engineering

    What will be the role of artificial intelligence in future smart homes?

    Artificial intelligence (AI) will play a vital role in this effort by using data—including grid data, smart meter data, weather data, and energy use information—to study and improve building performance, optimize resource consumption, and increase comfort and cost-efficiency for residents.

    What is the future of smart homes?

    According to Statista, the future of smart homes is exciting – there will be around 31 billion devices connected to the internet by 2020, and that number is supposed to grow to 75.4 billion by 2025.

  • SPanel vs cPanel — Full Comparison Review

    Are you launching a new website and looking for an easy-to-use and reliable control panel to manage your website and VPS server? You’ve probably heard of cPanel, but does it really fit your needs?

    cPanel is currently the industry standard control panel for managing hosted websites. It’s provided by most web hosting companies, thanks to its clear and robust structure that works well for beginners and developers.

    Perhaps you’re already a cPanel user and looking for an equally powerful control panel that’s more budget-friendly, given the recent spike in cPanel license prices. Or, perhaps you want to host your website on a Windows server and are looking for a solid cPanel alternative that supports Windows.

    In any case, it’s time to learn about SPanel, ScalaHosting’s own-developed “all-in-one” control panel that’s been designed to become a dependable alternative to cPanel for easy management of cloud VPS servers, and there’s a big hype around it.

    In this detailed comparison, we’ve put SPanel and cPanel against each other to highlight the pros and cons of each control panel and help you find the right control panel that matches your requirements. Keep reading!

    Features and Ease of Use

    Both SPanel and cPanel aim at providing an intuitive, feature-rich control panel that appeals to both beginners and professional webmasters.

    Starting with the interface, the two control panels have a similar clean layout that’s categorized to help you manage your website smoothly. You’ll find a navigation/search bar, side panel, general information section (to monitor your data and resource usage/statistics), tools, and features.

    However, SPanel is more polished and even easier to navigate than the standard cPanel, which can be slightly overwhelming and more difficult to be familiarized with for some users, especially newbies. For instance, with cPanel, you’ll need to log in separately to the Web Host Manager (WHM) to manage your servers, whereas you can take care of everything related to your website and servers with SPanel.

    In addition, cPanel requires some manual work from your end such as modifications for file configuration, use of command lines (e.g. to install Docker), and manual backing up of data. In contrast, SPanel settled this kind of hassle by significantly reducing manual tasks and implementing automatic features for easy VPS management – read on for more details.

    Moving on to features, SPanel and cPanel include a variety of website-related tools to manage different aspects of your website like files, FTP accounts, databases, emails, domains, and DNS settings. They both also support different PHP versions including PHP 8.0 – the most recent version of PHP.

    Nevertheless, SPanel gets an extra point for allowing you to host unlimited websites, emails, and databases for free as opposed to cPanel. SPanel additionally includes a website migration tool to transfer an unlimited number of websites for free with no downtime.

    Moreover, SPanel offers more features in terms of security and WordPress management that we’ll further discuss in detail.

    Security

    SPanel comes with an all-in-one security system called SSheild which doesn’t rely on a fixed database of security risks to protect your server. Instead, it relies on artificial intelligence and machine learning technology for predictive analysis and threat prevention. This makes it capable of blocking 99.98% of attacks and vulnerabilities.

    In addition to SShield, SPanel also comes with SpamAssassin and Brute Force protection which, altogether make it very hard for any security risks to squeeze through.

    On the other hand, cPanel also offers a wide range of security features. Starting with the Leech Protection option which prevents hackers from accessing secure areas of your website. Secure Shell, or SSH Access, is another feature that allows you to connect and transfer files securely. Other features include HotLink Protection, GNUPG Keys, IP Deny Manager, and Password Protect Directories.

    Both cPanel and SPanel come with automatic backups. However, SPanel comes with automatic daily backups (SBackup) for no extra cost and is built-in the control panel while with cPanel you have the option of manual or automatic backup. In the case of automatic backup, you’ll need a plug-in.

    SPanel comes with built-in integration with Let’s Encrypt. This provides your website with free SSL certificates which are automatically renewed and installed. With cPanel, you can also get free SSL certificates from Let’s Encrypt but, unlike SPanel, its integration is not built-in and requires a Let’s Encrypt plugin to have them installed on cPanel.

    Even though cPanel may appear to have more security features, SPanel’s more advanced AI security technology makes it less vulnerable to a wider range of attacks.

    Performance and Speed

    In order for cPanel to perform at its highest potential it requires a powerful server with higher resources as it is known to eat into the server’s resources. This means that if the server specifications are low and you’re using cPanel, you’ll definitely experience slower performance.

    On the other hand, SPanel is considered highly economical in its resource consumption and doesn’t use any of your personal server resources, which gives it the advantage of performing equally well on both a low specifications server configuration as well as servers with higher specifications.

    When it comes to server types, cPanel only supports Apache and LiteSpeed Enterprise servers while SPanel supports them as well, in addition to OpenLiteSpeed and Nginx which is considered to be the fastest type of server in the market today.

    Which One Is Better for WordPress?

    Signing up for a VPS to manage multiple WordPress websites or to have more control over the resources you need for your WP website is an excellent choice, but it also means more maintenance if you go for the unmanaged option. SPanel has an edge over cPanel in this area.

    cPanel offers a free WordPress management feature called WP Toolkit Lite (WPT) to facilitate WP site management for resellers and owners. The WP Toolkit Lite includes a single dashboard to manage your WP websites, one-click logins for admin dashboards, automatic updates for single websites, and debug management (to enable WP debugging modes).

    cPanel also offers automatic security hardening that’s employed automatically during the installation process and allows you to limit access for important files, configure security keys, and turn off pingbacks.

    Features such as site staging, cloning, enhanced WP hardening, smart updates (to test updates on a staging site) are only available with cPanel’s WP Toolkit Deluxe, which comes at an additional cost.

    Alternatively, SPanel is more focused on WordPress and the team behind it clearly understands the needs of WP users and the security dangers they face. That’s where SWordPress Manager comes in.

    SWordPress Manager

    The SWordPress Manager platform provides the basic features that come with cPanel’s WP Toolkit Lite as well as few more extras at no extra cost. With SWordPress Manager, you can:

    • Directly reset your WordPress admin password from SPanel, eliminating the need for password reset email. Hence, less risk of phishing email exposure.
    • Installing and deleting WordPress websites.
    • Activating and deactivating WordPress automatic updates.
    • Security Lock feature: Enables you to lock all directories and files to prevent making modifications or uploading new files, which is very efficient in the event of any hacking attempt on your WP site as your website will operate just as normal.

    SWordPress Manager will also include site staging and cloning, premium Softaculous license, and backup/restore function at no additional charge as opposed to cPanel.

    Compatibility

    cPanel is supported on Linux OS only and not even with all its distributions (e.g., CentOS, CloudLinux, Amazon Linux, and Red Hat Enterprise Linux). On the other hand, SPanel is supported with most Linux distributions including CentOS (7 and 8), Ubuntu, Debian, Rocky Linux, AlmaLinux, OpenSUSE as well as Windows 2019.

    SPanel is also fully compatible with cPanel which means that you can easily migrate all your data from cPanel to SPanel and you even get free unlimited website migrations. The migration includes all the behind-the-scenes data including addon and parked domains, cron jobs, databases, MySQL users, emails, passwords, and mail forwarders. All this will be transferred seamlessly with no downtime.

    Thanks to SPanel’s strong API, it’s fully compatible with almost all other platforms other than cPanel. This makes it much more convenient in the migration process and the wider range of options available for operating systems.

    Support

    Spanel’s support is backed by highly knowledgeable experts who are available 24/7 through live chat, email/ticket, and phone. Through live chat, the response is almost instant and the resolution of most cases is quite fast. The average live chat response time for the live chat is 30 seconds while with tickets, it can take up to 15 minutes.

    Like SPanel, cPanel also offers 24/7 support via the same channels. The support team consists of hosting professionals and is quite responsive. However, cPanel charges a fee for every incidence which is not the case with SPanel. Many users find it inconvenient to charge them, even if it’s a small fee, every time something happens.

    Both SPanel and cPanel have reliable support to help you out in any issue you face, making things a whole lot easier. However, offering this support for free puts SPanel in the lead over its competitor.

    Pricing

    cPanel is expensive and its prices are going higher. Perhaps the cheapest way to get a cPanel license is by registering for a shared hosting plan.

    Even so, many web hosting companies renew their shared hosting packages with inclusive cPanel licenses at a more expensive rate than the introductory subscription, simply because cPanel isn’t free.

    In most cases, you’ll have to purchase a separate cPanel license for VPS and dedicated server hosting, which adds up even more to the overall cost of your subscription.

    On the other hand, SPanel offers better value for money than cPanel as you can get it 100% free of charge with all its features and tools when purchasing any of ScalaHosting’s fully managed cloud VPS plans.

    Conclusion

    There’s no doubt that cPanel is a powerful control panel with a solid infrastructure and user-friendly interface, or else why would it be adopted by so many hosting providers, right?

    However, cPanel isn’t perfect and may not be suitable for everyone. It isn’t compatible with all platforms. It’s also very expensive and consumes so many resources and more RAMs than other control panels in the market.

    Contrarily, SPanel is a very promising control panel and has proven to be a worthy alternative to cPanel by making up for what lacks in cPanel. To recap, SPanel is more cost-efficient and offers a faster, more flexible, and more user-friendly control panel that offers more features, unlimited resources and is more WordPress-oriented.

    Still undecided between SPanel and cPanel? Check out this comparison table.

    SPanel

    cPanel

    Features

    Support for multiple PHP versions, Apache support, branding, 100% email delivery 

    Support for multiple PHP versions, Apache support, branding 

    Ease of Use

    Fully managed and easier to navigate

    Easy to use, but also requires manual input and command lines

    WordPress Management

    SWordPress Manager (free)

    WP Toolkit Lite (free) and WP Toolkit Deluxe (paid)

    Security

    SSheild, SpamAssassin, Brute Force Protection, SBackup (free)

    Leech Protection, SSH Access, HotLink Protection, GNUPG Keys, IP Deny Manager, and Password Protect Directories, automatic and manual backups (require plugins)

    Supported Operating Systems

    CentOS (7 and 8), Ubuntu, Debian, Rocky Linux, AlmaLinux, OpenSUSE as well as Windows 2019

    CentOS, CloudLinux, Amazon Linux, and Red Hat Enterprise Linux

    Speed

    Lightweight, consumes less resources, and supports LiteSpeed, OpenLiteSpeed, and Nginx

    Heavy, consumes more resources, and supports LiteSpeed

    Automatic Backups

    Yes

    Yes

    Unlimited accounts, emails, and databases

    Yes (Free)

    Yes (Paid)

    Value for Money

    100% free with ScalaHosting’s fully managed cloud VPS plans

    Expensive

    Support

    24/7 via live chat, email/ticket, and phone. Free of charge

    24/7 via live chat, email/ticket, and phone. Charges a fee per incidence

    SPanel as a standalone license

    SPanel comes for free with every VPS or Entry Cloud plan from ScalaHosting, but you can also use it with any other provider of your choice. It can be purchased as a standalone license on spanel.io and like cPanel, installed on a VM purchased from AWS, Hetzner, DigitalOcen, etc. This is where SPanel differentiates the most, as it’s the only control panel that comes with full server management service.

    The user is provided with 24/7 live support, covering all hosting and server-related issues. They can request a free and effortless website migration anytime and get technical assistance right from their SPanel interface by clicking on the live chat icon, which immediately connects them to a technician. Simply put, with SPanel, you can convert any self-managed VPS service into a fully managed one. The cheapest “Entry” plan starts at $19.95/month; it comes with all SPanel features and functionalities, and you can use it to manage unlimited domains in up to 5 accounts. All “Managed” plans feature a free Softaculous 1-click Installer and unlimited fee website, email, and account migrations.

    Alternatively, if you are a power user and don’t need extra help, you can choose one of the self-managed SPanel plans that start from $9.95/month. They have the same features as the “Managed” plans except for the 24/7 live hosting support. It’s worth mentioning that the general idea behind this control panel is to be designed by the user for the user. At features.spanel.io, everyone can suggest new features and vote for existing suggestions, and requests are developed based on the majority of votes.

  • Understanding the Most Common Reasons for Edtech Startup Failure

    With increased competition in education technology, it’s becoming more difficult for startups to overcome the challenges of entrepreneurship. Of course, this is a common challenge that affects many industries, not just the educational sector. While the startup community continues to embrace innovative technology and business models, many tech entrepreneurs still struggle to turn their ideas into reality.

    The challenge boils down to one simple question. Why are Edtech startups failing? Are entrepreneurs simply not smart enough to survive? Or are there systemic causes for these failures? For example, is there something about a startup’s early days that prevents it from scaling beyond its initial vision? Let’s see what this guide states.

    The Reality of Education Technology Startups

    Edtech startups are fraught with challenges that slightly differ from the traditional business. Don’t get it wrong; it is a robust industry, which according to HolonIQ is expected to hit $404 billion in 2025 — a 12.2% increase from last year’s $227 billion. That doesn’t imply that it’s all bed of roses for all business persons in this ecosystem.

    Several variables influence the global viability of successful ed-tech firms. One of the biggest challenges of educational technology is the complexity of the sector itself. To explain this better, let’s take a classic example from China’s education boom last year (2020), which surged to over $10 billion. It was a fiesta for ed-business individuals.

    Fast-forward to this year; the situation appears gloomy as the values of deals sit below $2 billion. A major driver of this plummeting is the Chinese government’s crackdown on ed-tech startups, with Tencent, Alibaba, and other active corporations taking a hit. Many experts have expressed their opinions on its implications, including Bloomberg analysts. However, these situations are influenced “by powers that be.” Other times, Edtech startup founders get it completely wrong.

    Breaking it Down to Numbers

    Here is a breakdown of factors that wipe out startups from the market:

    • Achievability for non-technical users (5%)
    • Non-sustainable monetization model (5%)
    • Slow-moving in accepting innovation (11%)
    • Oversaturated market (16%)
    • Limited budgets (26%)
    • Long sales cycles (32%)
    • Others, such as finding tutors (5%)

    These statistics may give a rough idea of where Edtech startup challenges stand. However, things are not as dismal as they seem, and there is hope on the horizon. Over my eight-year experience in Edtech, I’ve learned to adapt and overcome a tough environment and market. There are also successful Edtech businesses that have weathered the highlighted factors.

    I have been privy to exclusive reviews from such firms. Here is a review of WriteMyEssayOnline, an essay writing service provider:

    “I’m so happy I learned about Write My Essay. Running 2 businesses and doubling up on classes, has proven to be an unrealistic task. Since using them, I have been less stressed. The work has been of superior quality.”

    Perhaps, the review can be replicated for other Edtech startups. It’s up to the founders to make the right decisions at the right time and then let the business take its course. A startup is a hard game to win, but it is not impossible.

    Reasons Edtech Businesses Fail

    Startups in the educational technology industry fail during their early stages for various reasons, including the following:

    The Inability to Solve a Problem

    Although there may be a need in the educational market, if the startup doesn’t have a solution for it, it would be like running a marathon without shoes. The founders must be committed to finding a solution that will add value to the lives of teachers, students and parents. However, a business is not an end in itself. So, entrepreneurs need to ensure that their products are highly valued to ensure customers and users are constantly in need of them.

    Lack of Clarity of Vision and Goals

    Businesses thrive on vision and clear goals. Without a vision, a startup founder would never know where to start. The entrepreneur may not realize what the end goal is and would thus expend extra efforts on irrelevant educational projects. Additionally, the business model should be crystal clear for all the Edutech team members. If there is no plan to make money out of the venture, while providing quality educational services, the business would probably be doomed from the onset.

    Failure to Understand the Market

    Educational products and services must satisfy the target market’s needs and ensure that no aspect is left unaddressed. While the Edutech product is in development, the entrepreneur must consider its impact on the target audience and the environment at large, in other words, how the market will react to it. There should be room to test the waters and make necessary adjustments when required.

    Not Knowing their Strength and Weakness

    Startups in the educational technology sector are particularly vulnerable, especially when they are in the early stages of development. As such, business owners must assess their strengths and weaknesses before embarking on this business. For example, if they want to sell online, they must have a good understanding of how to do it.

    They must also understand how to appropriately adapt the technology to educate students. Technical implementation, team members, and market conditions can all be sources of vulnerability. Edutech entrepreneurs must address such weaknesses immediately before taking the project to its final stages.

    Conclusion

    Having identified the challenges encountered in the Edutech industry, there is a need for a comprehensive strategic planning system that could help an entrepreneur create a roadmap for the development of their business. Such a system would be invaluable in making their Edutech firms sustainable, valuable, and highly efficient towards meeting market demands. It would also help to avoid failures that are sure to come with any typical Edutech business venture.

  • 16 Patna Startups | Startups and Entrepreneurs in Patna [Exhaustive List]

    Counted amongst the list of oldest, continuously inhabited locations across the world, Patna has contributed immensely to India’s progress and continued development. The same can be said for their contribution in Indian startups ecosystem. It’s time to pore over some of the top promising entrepreneurial ventures that have sprung up from the land of Patna which is capital of state Bihar. The modern city of Patna is situated on the southern bank of river Ganges. Patna is the second largest city in east India.

    State cabinet has approved the formation of Bihar Startup Fund Trust which would function under Bihar Startup Policy. It will select business ideas with potential to be given seed funding.

    Here are the list of successful startups in bihar.

    Also read: list of all recently funded startups in India.

    We have also covered startups in Vizag, Delhi and other major cities of India.

    Successful Startups in Patna (Bihar)

    RailRestro
    SevaMart
    Puchka Party
    Bihar Bytes
    Revival Shoe Laundry
    Artkala
    BoxBoy
    Treeoz EcoVenture
    Brand Radiator
    Genesys Consulting
    Esythink
    FindMyDrona
    Travelia Holidays
    Work Studio Coworking
    Dmachs Technologies
    FAQs

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    startups in patna

    RailRestro

    Founder: Manish Chandra
    Year Founded: 2015
    Industry: Food delivery

    RailRestro | Patna originated Startups

    Train journeys, especially lengthy ones can get you hungry while you resist the desire to eat from the in-train caterer. The media has uncovered the pathetic side of train meals. This has made commuters apprehensive about consuming these meals. To counter this issue, Manish Chandra came up with the concept of RailRestro. This venture allows train commuters to order from a variety of cuisines both online or offline through the phone on 8102888111. You can order anytime between 7 am and 11 pm. In case your train is delayed, the guys at RailRestro keep track of the train status and work accordingly. It ensures that you receive hot and good quality meals. There’s even an online ‘Food Advisor’ to assist with your queries!

    SevaMart

    Founders: Avinash and Pratiksha Singh
    Year Founded: 2016
    Industry: Local Services

    SevaMart | Startup Company in Patna

    Stuck with that clogged drain and your go-to plumber is unavailable? Don’t worry, SevaMart is there for the rescue. Presently operational in Patna only, SevaMart delivers home maintenance, fitness and business services through professional providers. Customers need to choose a service, schedule an appointment for it and done! Startup India has given recognition to this initiative.

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    Puchka Party

    Founder: Vinit Kumar
    Year Founded: 2016
    Industry: Food Delivery

    Puchka Party | Patna startups

    Gol Gappa, Puchka, Panipuri… the name differs across Indian states but the taste remains the same! Pizzerias and burger joints are common but what about a place that serves only this delicacy? So, Vinit Kumar, a panipuri fan and an IGNOU alumnus, founded puchka party. Puchka party aims to bring an exclusive place catering to the panipuri fan club members your doorstep. You can order puchka online through Puchka Party and it delivers puchka at your doorstep. At present, the joint offers seven types of golgappas and is going to add more items as it continues to expand. The venture is seeking series A funding and aims to open 100 outlets by 2020.

    Bihar Bytes

    Founder: Yashi Malviya and Sukirti Roy
    Year Founded: 2016
    Industry: Travel & Tourism

    Bihar Bytes | Patna startups

    Bihar Bytes is a website which is dedicated towards promoting tourism of Bihar across the world. Bihar Bytes is a platform that showcases and promotes the rich culture and heritage of Bihar. To make Bihar more accessible and friendly to people, the promoters have been educating local people and spreading awareness. “biharsunonahidekho” is an initiative taken by Bihar bytes.

    Revival Shoe Laundry

    Founder: Shazia Qaiser
    Year Founded: 2014
    Industry: Shoe Spa

    Revival Shoe Laundry | Patna startups

    Revival Shoe Laundry repairs, cleans and refurbishes shoes, other leather items such as jacket and bag. Simply you can book repair service for your shoes, jacket bags online via website or via call. Revival Shoe Laundry offers free pickup and drop of your leather shoes, jackets and premium leather bags. Revival Shoe laundry makes the uneducated and underprivileged women aware of their rights and have a proper social standing in the society.

    Artkala

    Founders: Pawan, Puja, and Sneha
    Year Founded: 2016
    Industry: Youtube Channel

    ArtKala Youtube Channel | Startups in Patna

    With 1.6 million subscribers and 603 videos as of now, Artkala is the largest do-it-yourself craft making Indian channel on YouTube. Conceived by the sibling trio of Pawan, Puja, and Sneha, Artkala was the product of their financial issues. Their craftsmanship then coupled with the issues and it produced what we today know as Artkala.  The trio has been felicitated by the Andhra Pradesh government at 2017 ‘Social Media Summit and Awards’. People across the globe are taking note of the channel. Hence, Pawan is planning to rise to scale his ingenuity further in the form of a web portal to showcase his sisters’ creations along with DIY kits.

    BoxBoy

    Founder: Akash Deep
    Year Founded: 2016
    Industry: Online Food Delivery

    BoyBoy | Online Food Portal in Patna

    BoxBoy provides services for your daily meal requirements at your doorstep. BoxBoy has a a team of well trained cooks with 5 star supervision. BoxBoy has features like free meals for parents and 24*7 helpline number.

    BoxBoy has introduced plans and packs for all kind of customers living away from home. BoxBoy tries to give you homely feeling. KHYAAL, UDHAAR LO, MASTI-ON- WHEELS are also some of our services to help our customer.

    Treeoz EcoVenture

    Founder: Rahul Kumar
    Year Founded: 2018
    Industry: Garden Accesories

    EcoVenture | Patna Startups

    Gardening may be a hobby for some but much more than that for others. Keeping up with the ‘going green’ and being eco-friendly, entrepreneur Rahul Kumar came up with the concept of green gifting. The platform offers a whole lot of items related to gardening and decoration. A variety of plants are up for grab meant for occasions like anniversaries, festivals and birthdays. One can also purchase designer pots. And on top of that, everything is well within budget.

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    Brand Radiator

    Founder: Himani Mishra, Shashidhar Rajan
    Year Founded: 2018
    Industry: Marketing

    Brand Radiator | Patna startups

    Brand Radiator offers 360-degree marketing solutions and services both on offline and online modes. Brand Radiator gives online digital solutions such as digital consulting, social media management and marketing, search engine marketing and optimization, digital ad management, video production, website and mobile application development, online reputation management, and PR services. Brand Radiator gives offline digital solutions too such as design and content development of different marketing collaterals used in the offline channels for marketing, promotional, brand awareness and other activities.

    Genesys Consulting

    Founder: Hansa Sinha, Parimal Madhup
    Year Founded: 2011
    Industry: Consulting

    Genesys Consulting | Patna startups

    Genesys Consulting Pvt. Ltd. is a Consulting Organization in Patna which is primarily engaged in designing and delivery of Numero Uno services in the domain of HR, IT and Project Consulting. Genesys Consulting offers professional & expert consulting services for its clients needs in the field of Bulk Hiring, Online Recruitment Application System, Web based management information system, Human resource management services. Genesys has built a brand name in consulting industry for its expertise in consulting services for multiple business vertical clients across India.

    Esythink

    Founder: Mannu Jha
    Year Founded: 2017
    Industry: EdTech

    EsyThink | Startups in Patna

    There are various websites for social connections but did you know about a platform that connects teachers to schools? Esythink bridges the gap between schools and teachers. It provides a medium for experienced teachers and those who have just started out in this profession to seek recruitment in schools. Apart from this service, you can buy school related items such as uniforms, books, and shoes. A ‘Teachers Hiring Tournament’ service ensures that a qualified teacher gets the right position at the right school.

    FindMyDrona

    Founder: Vicky Agarwaal
    Year Founded: 2018
    Industry: Education

    FindMyDrona | Startups in Patna

    FindMyDrona is a database of all the classes and coachings institutes in pan India. You can visit the website and search for any kind of classes you need. FindMyDrona lets institutes register themselves and then people can decide which one is best for them. The startup is solving one of the biggest problems among the students that which is the best institute for them. We can check the reviews of the classes and also verify if the institute is genuine or not.

    Travelia Holidays

    Founders: Abhishek Kumar
    Year Founded: 2015
    Industry: Travel Agencies

    Travelia Holidays | Patna startups

    Travelia Holidays  is the leading integrated travel and travel related services company in the country. Travelia Holidays offers a broad spectrum of services like Corporate Travel, MICE, Leisure Travel, Travel Insurance, Flight/Train/Bus Tickets, Visa & Passport services and E-Business. It provides knowledgeable efficient planning and the ability to anticipate and resolve potential problems along the way.

    Work Studio Coworking

    Founders: Alok Kumar, Sonu Saurav, Rahul Samrat, Ishan Paul, Prakhyat Kashyap
    Year Founded: 2018
    Industry: Coworking Space

    Work Studio Coworking | Startups in Patna

    Work Studio is a Patna based coworking space company. Apart from Patna, the startup operates in Gurgaon and Ranchi too. The company provides all kind of office space with luxury seats, flexible seats, virtual office, etc. Work Studio is the top coworking space of Patna and so, the first choice of entrepreneurs. The startup was started by 5 friends named Alok Kumar, Sonu Saurav, Rahul Samrat, Ishan Paul & Prakhyat Kashyap. If you want to know more about this startup and its story, then you can check out our Work Studio Startup Story.

    Dmachs Technologies

    Founders: Sumit Kumar
    Year Founded: 2013
    Industry: Information Technology & Services

    Dmachs Technologies | IT Startup Company in Patna

    Dmachs Technologies is an IT company in Patna which is specialized in digital marketing. Dmachs Technologies provides services like digital marketing, social media optimization, search engine optimization, website designing & development, eCommerce websites, ios/android mobile app development, software, product innovation, product branding. Dmachs Technologies has clients ranging from SME to government department.

    This was our list of famous and successful startups and entrepreneurs from Patna(Bihar). Hope this list will help you in having business idea which you can start on your own.

    If you know any other startups in Patna, Bihar, please contact us. We will connect with them to feature their story in this list of startups in Bihar.

    FAQs

    Which industries are best in Patna?

    Bihar currently has more than 50 industrial areas. The profitable industries in Patna includes:

    • Agriculture
    • IT
    • Electronics
    • Textiles
    • Leather

    What are the top startups in Patna?

    Some of the Successful Startups in Patna (Bihar) are:

    • RailRestro
    • SevaMart
    • Puchka Party
    • Bihar Bytes
    • Revival Shoe Laundry
    • Artkala
    • BoxBoy
    • EcoVenture
    • Brand Radiator
    • Genesys Consulting
    • Esythink
    • FindMyDrona
    • Travelia Holidays
    • Work Studio Coworking
    • Dmachs Technologies

    Which business is more profitable in Bihar?

    Some of the most profitable businesses in Bihar are:

    • Restaurants
    • Malls
    • Hotels
    • Coaching Institutes

  • Startup Accelerator Business Model

    The role of startup accelerators is increasing in startup communities throughout the world. A startup accelerator is also known as a seed accelerator. It is a business program that supports startup companies through financing, mentorship and education. The accelerators have the potential to improve the outcomes of startups and to spill these benefits into the wider startup community. You must be wondering like What is an accelerator? How do startup accelerators work? How do startup accelerators make money? etc. Don’t worry, we are going to answer all these questions in this article.  

    History of Startup Accelerators
    Startup Accelerator Business Model
    Characteristics of An Accelerator Program
    How do Startup Accelerators Work?
    Process of An Accelerator Program
    Efficiency of Accelerators
    Frequently Added Questions – FAQs

    How Startup Accelerators Work

    History of Startup Accelerators

    Y Combinator was the first independent startup accelerator that was started in Cambridge in 2005. Later, Paul Graham moved this into Silicon Valley. After its success, startup accelerator programs started to grow swiftly across Europe and the United States. It includes Seedcamp (2007), Techstars (2006), Startupbootcamp (2010), Tech Wildcatters (2011), and Boomtown Boulder (2014).

    The popularity of startup accelerator programs increased in the US and Europe. Seedcamp, Startup Bootcamp, and Startup Wise Guys are the top-rated accelerator programs in Europe. In April 2012, Forbes presented an analysis of startup accelerators. According to that, there was a significant growth of corporate accelerator programs since 2010. Around one-third of startups received accelerator funding models through the accelerator program by 2015. Some large corporations have created their own accelerator programs. They focus on specific categories, but it follows similar principles.

    With the emergence of the COVID-19 pandemic, many accelerators such as Y Combinator, SOSV’s family of accelerators and BEAMSTART have shifted their approaches by running most of the programs and Demo Days online.

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    Startup Accelerator Business Model

    Startups need to submit an application to join an accelerator. Once the application is approved, the accelerator will give services and resources such as advising hours, shared coworking space, guest speakers, and a negotiated amount of capital. The average term period of a startup accelerator model is 3-4months. Also, the ownership of the startup should be around 3-8%. The help of an accelerator ends with a demo day or graduation after startups present their work and move forward independently.

    Startup Accelerator Business Model
    Startup Accelerator Business Model

    Biotech, tech hardware, and AI are the popular sectors of the startup accelerator business model. Also, so many brands have got support from accelerators. Play Tech Center and the Silicon Valley accelerator Plug have assisted PayPal, Google, and Zoosk to convert their ideas into businesses. Y Combinator is another popular accelerator. They released Dropbox, Airbnb, and Reddit. A startup accelerator named Techstars has sponsored more than 21 startups.

    Characteristics of An Accelerator Program

    Startup accelerators, also known as seed accelerators, are fixed-term, cohort-based programs that include mentorship and educational components and culminate in a public pitch event or demo day. These are the 4 factors that make accelerators unique from other startup institutions such as incubators, seed-stage venture capitalists and angel investors. Accelerators can give useful resources to organizations at all stages of development. But most accelerator programs are focusing on pre-revenue. To qualify as an accelerator requires a number of characteristics. The characteristics of a startup accelerator are given below.

    1. It is a fixed-term business program with a start and an end.

    2. It is a cohort of startups.

    3. It includes a group of advisors to support the startup.

    4. It is an educational program for the transferring of acquired knowledge.

    5. It is a selection process, so the cohort of startups is considered the best.

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    How do Startup Accelerators Work?

    How do startup accelerators work?
    How do startup accelerators work?

    Accelerators provide two types of knowledge where mentors pass the tacit knowledge from what they have learned over the years and the acquired knowledge is transferred through training sessions, workshops, and other structured education. Startup accelerators offer acquired and tacit knowledge through the combination of structured education and mentors. It has efficiency for the transferring of the value it creates by forming a group of startups.

    The accelerator chooses the best startups from a large number of applicants and brings those startups together in such a way that corporations, investors, and others can meet them. It also chooses and brings a group of mentors who give knowledge, advice, and new contacts to startups for development. The accelerator provides a diverse network with a wide range of experience and knowledge.

    This group works as a class at a university that allows delivering one lesson to a group of startups at once instead of delivering lessons to individuals multiple times. It focuses on participants who form an ecosystem around the accelerator and provide an opportunity for them to meet a group of startups at once instead of finding and meeting them all individually.

    It is provided to overcome the lack of knowledge and networks of startups. Accelerators are mainly funded by corporations, government agencies, or investors to identify and support new innovations. The startups make returns in the form of investment returns, economic development, and new technologies.

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    Process of An Accelerator Program

    An accelerator program mainly includes 6 processes:

    Process of an accelerator program
    Process of an accelerator program

    Apply and Get Accepted

    After submitting applications, only 1% to 3%  of applicants get accepted from total applications. During this process, the startups can interact with the operator and discover more details about them. Startups don’t have an obligation to join and accept the program until they sign any paperwork.

    Get Funded

    Money is one of the major reasons that founding teams and entrepreneurs selecting the accelerator path. Accelerators provide seed money to the company that ranges from $10,000 to $120,000. Although some have recently withdrawn the amount of funding they provide, they point to funding as a major obstacle to success as that may affect future fundraising activities.

    Focus

    A big advantage of this system is that it focuses on entrepreneurs. According to the Harvard Business Review, they are being dragged into the process for 3 to 6 months. This is an intense time, and participants are forced to focus and make progress.

    Learn

    Learning is a big part of the process. It includes opportunities such as seminars, workshops, and mentorship opportunities wherein it covers topics relevant to starting a venture, pitching practice, and the legal aspect.

    Network

    Entrepreneurs have ample opportunities to network with potential investors and other industry support providers, during the acceleration period. These connections are very valuable.

    Demo Day

    The process ends in graduation or on a demo day, where every startup in the cohort presents and pitches. This is the place for proving the time and experience invested by startups. Founders of startups usually include 15 to 20 slides on their pitch decks as part of the presentation.

    Efficiency of Accelerators

    Accelerators bring the various groups of participants around their program and facilitate interactions between them very efficiently. They bring the best startups by running a selection process that includes an open and broad application process. The evaluation is done by respected individuals. The high quality of startup has an important value within the accelerator. It attracts investors.

    Another major attraction of accelerators is the mentors. A mentor provides networks and tacit knowledge to the cohort. It makes mentors an important part of accelerators. Failure to ensure that mentors receive appropriate remuneration for giving their knowledge and time can lead to mentors losing interest quickly or failing to engage. The way of gathering startups together into one space and deal with them quickly in a fixed-term program, creating the same efficiency as a university collecting students into classes.

    Efficiency of Startup Accelerator
    The efficiency of Startup Accelerator

    Mentors are able to address all startups simultaneously, so that knowledge is effectively transmitted. Accelerators can provide a way to survey and filter out many innovators, such as startups, academics, or individuals. By choosing the best from the applicants, the accelerator makes a validated cohort of startups that are valued by others, such as investors and mentors.

    The accelerator experience is fast, intense, and in-depth educational process aimed at shortening the years of worthwhile learning into a few months and accelerating the life cycle of innovative startup companies. A real accelerator has very specific identifiers. If you can access them, they can give you a lot of benefits. Not everything is created equal. There are so many differences that exist between the successes of the graduates.

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    Frequently Added Questions – FAQs

    What happens in a startup accelerator?

    Startup accelerators periodically select a batch of companies, usually in the same early stages of their lifecycle. In return for a small portion of equity, they offer advice, investor connections, and mentorship.

    Is joining an accelerator worth it?

    Most startup accelerators provide seed money in exchange for equity in your startup. So, if you are someone who doesn’t want to dilute the equity at the initial stage, going for an accelerator program will be a bad idea. However, there are few accelerators programs that don’t take any equity in the startups.

    How do startup accelerators make money or how do accelerators make money?

    The accelerator would charge startups by offering desks for rent. In a way, the accelerator is actually offering similar services to a co-working space. Alternatively, accelerators make money through offerings of training and consultancy services for startups, in exchange for money or equity.

    What is a startup accelerator?

    A startup accelerator is an organization that offers mentorship, capital, and connections to investors and business partners. It is designed for selected startups with promising MVPs and founders, as a way to rapidly scale growth.

    What is the list of the best startup accelerators in India?

    The list of best startup accelerators are as follows:-

    • Cisco Launchpad.
    • GSF Accelerator.
    • Microsoft Accelerator.
    • Indian Angel Network.
    • iCreate.
    • Google Launchpad.
    • Amity Innovation Incubator.
    • Angel Prime.

    How do I start my own accelerator business?

    Step 1: Found your own company or at least work at a startup.

    Step 2: Participate in the community.

    Step 3: Talk about the community.

    Step 4: Invite the community in.

    Step 5: Create a common space.

    Step 6: Keep doing all of that stuff or even more, but faster.

    Step 7: Start an accelerator.

  • StudentKARE Startup Story: One Stop Destination To Buy School Supplies Online

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by StudentKARE.

    Remember the excitement of going back to school after vacations all decked up in everything new, starting from books, bags, and shoes? Gift a child his favourite superhero school bag and see the happiness on his face. Adequate and good quality school supplies are a necessary part of good education and help to keep students motivated and happy.

    StudentKARE, a Mumbai-based startup is here to take care of all the supplies student needs for education and play, so that parents and guardians can provide their children with good quality school supplies effortlessly.

    Company Highlights

    Startup Name StudentKARE
    Headquarters Mumbai
    Founder Rustom Kerawalla
    CEO Kurien Pothen
    Sector E-commerce
    Founded 2018
    Parent Organization Kare Enterprise Pvt. Ltd.
    Website studentkare.com

    School Supplies Industry Details
    StudentKARE – About & How it Works?
    StudentKARE – Founder & CEO
    StudentKARE – How It All Started?
    StudentKARE – Name & Logo
    StudentKARE – Revenue Model
    StudentKARE – User Acquisition
    StudentKARE – Funding & Investors
    StudentKARE – Startup Challenges
    StudentKARE – Competitors
    StudentKARE – Growth
    StudentKARE – FAQs

    School Supplies Industry Details

    According to industry reports, India has nearly 260 million students studying in the K-12 segment who require uniforms, textbooks, notebooks, bags, shoes, and other stationery materials. The market is estimated to be INR 55,000 crores p.a. and is currently not too organized.

    Education as a sector is immune to any negative impact on the economy of a country. We believe that with the advent of technology-backed ventures, the otherwise unorganized sector will witness growth towards organized retailing. We expect the market to grow in double digits every year.

    The Online Business of School Supply – StudentKARE

    StudentKARE – About & How it Works?

    StudentKARE is India’s first of its kind, comprehensive e-commerce platform dedicated to fulfilling the end-to-end requirement of students – at school and play. It is a one-stop shop for every little need related to education and hobbies for a student. StudentKARE aims to make the parents’ life easy by making the process of selection simpler and also offering home delivery across 20,000+ pin codes.

    Studentkare.com is the e-commerce arm of Kare Enterprise Pvt. Ltd. Kare is a 14-year-old leading firm that specializes in office and school supplies. At present, it has B2B tie-ups with over 100 enterprises for supplying products ranging from uniforms to technology products to notebooks giving us first-hand experience, knowledge & understanding about the size of the market and growth patterns.  

    StudentKARE has a wide range of education and sports-related products, like uniforms, books, footwear, bags, stationery, accessories, toys, and games and many sports and technology-related products like football, basketball, cricket set, keyboards, mouse, speakers, headphones, etc.  

    Our promise to our customers/parents is simple- access to curated merchandise related to education and play activities such as sports, throughout the year, at the click of a button. Simplicity, Convenience, and Quality assurance are our three core values.

    StudentKARE School Supplies
    StudentKARE School Supplies

    It is not necessary that parents get all the supplies for a school in one trip and hence they may make multiple trips to get the prescribed books. Similarly, for toys, there are options for buying toys/books online or offline, the key difference is StudentKARE’s curation makes parents life simpler by offering selected merchandise of the best of brands.

    Being a technology-led integrated platform it allows parents to shop anytime and anywhere. As it is backed by efficient back-end logistics that ensure products are delivered within 3 working days. All the products on the site are listed according to age/interest/price range, etc.

    This makes it easier and faster for a parent to search for specific products or even discover relevant products on the site. For frequent customers, the platform also has wish lists & multiple payment options for faster checkout.

    StudentKARE – Founder & CEO

    Rustom Kerawalla is the founder of StudentKARE Parent Organization Kare Enterprise Pvt. Ltd.

    Kurien Pothen is the CEO of Kare Enterprise Private Ltd. He joined in 2017, to drive the launch of the e-commerce business – studentkare.com. With over three decades of experience across FMCG, consumer durables and retail domain Kurien had earlier stints at Nerolac Paints, VIP Luggage, Reliance Communication, and Grasim Industries.

    Kurien Pothen | CEO | StudentKARE
    Kurien Pothen | CEO | StudentKARE

    With his vast experience in building brands and bridging need gaps, Kurien was quick to recognize the business potential of using technology to help ‘organize’ the student supplies sector.  

    StudentKARE – How It All Started?

    The parent company Kare Enterprises provide services to over 100+ institutions under its B2B business model and its core competencies lie in school supply chain management: procurement, stocking, direct-to-home distribution, and retail operations. Starting studentkare.com, a B2C model was a natural extension to make the best use of the 14 years of experience and expertise in the school and office supplies space. However, adapting and creating something from the parent’s perspective needed different skill sets from the B2B space.

    StudentKARE was launched in 2018, while the website went live in 2019.

    As per market research by StudentKARE, a student in any class between KG to 12th grade requires more than 15 different products on a regular day. These products include school bags, textbooks, reference books, shoes (sports and regular), etc. Each of these products is typically sold by different merchants. A parent has to make multiple trips to different school vendors to get all the supplies needed, which is inconvenient & time-consuming. Additionally, the merchants also have a limited brand/product range.

    To solve this issue, studentkare.com provides a platform where parents can buy all the school supplies needed for their children.

    StudentKARE - One-stop-destination for School Supplies
    StudentKARE – One-stop-destination for School Supplies

    The brand name StudentKARE is an amalgamation of its target customers (student) and parent brand, Kare.

    StudentKARE Logo
    StudentKARE Logo

    StudentKARE – Revenue Model

    StudentKARE has a very simple revenue model. It has different categories of products having different price range with a strong focus on being price competitive. StudentKARE provides a wide range of brands choices for the customer. It has direct tie-ups with brands which ensure that it has better quality products at fair prices. The company rolls out seasonal schemes which offer value for larger purchases. It also offers free delivery for orders above INR 500.

    As an online retailer, we strongly believe in avoiding the deep-discounting/hidden pricing approach and focus on fair pricing for sustainable business growth.

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    StudentKARE – User Acquisition

    Online marketing worked well for StudentKARE and it was able to reach the 100th transaction mark much faster than initially projected.

    StudentKARE’s marketing budgets are currently focused on building a strong brand presence with the parents’ community, helping them discover value with the platform & develop a long-term seller-buyer relationship. It is also focusing on improving its own systems & processes. The company is currently focusing on leveraging its existing customer base employing digital marketing & BTL channels for targeted campaigns. The company has plans to invest more in marketing with further growth.

    An interesting insight that StudentKARE had was traffic & transactions from Tier-II and Tier-III cities across India. While the company expected transactions from the metro cities only,  but they realized that Tier-II and Tier-III cities are under-served in terms of brand choices at local stores. This encouraged StudentKare to change its communication focus to these cities and soon enough started seeing transactions pouring in from the Tier-II and Tier-III markets.

    We have parents from Guwahati who buy Amar Chitra Katha comics and pay more for delivery charges than the cost of the book! We have customers from Sonepat/Tuticorin buying robotics kits. While we thought that metro cities would be the main markets, we realized that smaller cities are also a substantial market – StudentKARE.

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    StudentKARE – Funding & Investors

    StudentKARE is currently a bootstrapped company.

    StudentKARE – Startup Challenges

    As a new portal, gaining the trust of the customers is a major challenge that StudentKare faces.

    In the first few months, we reached out to our captive customer base with focused products offerings, though we were able to receive a few orders and service them, we had some curious customers reaching out to our contact center to ask who owns/runs the portal. Trust is an important criterion if a parent is buying school books, etc. online.

    The company overcame this challenge by creating more awareness about its credentials among its target customers. StudentKARE now boasts of a set of loyal customers who have transacted several times with it and have provided positive feedback.

    StudentKARE – Competitors

    E-commerce giants like Amazon, Flipkart, and Snapdeal, etc. also have the education and sports-related products enlisted on their websites and hence pose competition for StudentKARE. Besides websites like Schoolkart and School Super Mart, which are dedicated platforms for education and sports-related goods are also some competitors of StudentKare.

    StudentKARE stands out from the competitors as it has the advantage of being a part of a larger setup. It leveraged the existing relationships of Kare with large brands to provide high-quality products at reasonable rates.

    According to Kurien, the parent-child-centric focus has been the USP of studentkare.com. Other aspects of the platform are process-focused order processing, regular customer communication & standard marketing incentives like discounts and cashback.

    One of the shopping platforms that we believe has revolutionized its market segment is Nykaa. It was a common perception that there is no online market for cosmetics and other beauty products in India. It was believed people will need to ‘touch and feel’ these products. Convenience, Education, and quality assurance have worked in favour of changing the mindset of people. We are working to achieve the same with the online education/toy supplies market which is largely unorganized and grossly underserved.

    Notebook- Startup story, founder, funding, Revenue model, future plans
    Startup NameNotebookHeadquarterKolkata[https://startuptalky.com/kolkata-startups/]FoundersAchin Bhattacharya & SubhayuRoySectorEdTechFounded2018Notebook – IntroductionNotebook – Industry DetailsNotebook – FoundersNotebook – The Idea and starting upNotebook – Name and LogoNotebook – ProductNo…
    StartupTalkyChayanika Goswami

    StudentKARE – Growth

    StudentKARE has started operating just 3 years back and has been able to make a mark in this very short span. The company attracts 50,000 hits on its website every month. StudentKARE delivers to over 20,000+ pin codes across India. Besides, the company has been able to grab the attention of buyers both from metro cities and Tier-II, Tier-III cities which is a good achievement.  

    The plan is to make studentkare.com the default platform in the coming future for product discovery and purchase for the education and hobby/shopping needs of a child. StudentKARE is also planning to build a community of parents who share their experiences with each other and make the site the best place for both buying and community bonding.

    StudentKARE – FAQs

    What is StudentKARE?

    StudentKare.com is India’s first of its kind, comprehensive e-commerce platform dedicated to fulfilling the end-to-end requirement of students – at school and play.

    What does StudentKARE provide?

    It is a one-stop shop for every little need related to education and hobbies for a student.

    Who is the founder of StudentKARE?

    Rustom Kerawalla is the founder of StudentKARE Parent Organization Kare Enterprise Pvt. Ltd.

    Who is the CEO of StudentKARE?

    Kurien Pothen is the CEO of Kare. He joined in 2017, to drive the launch of the e-commerce business – studentkare.com.

    Who are the targeted customers?

    The targeted customers are the parents and their children. Basically, a student in any class between KG to 12th grade requires more than 15 different products on a regular day.

    What is the total revenue generated from School Supplies Industry?

    India has nearly 260 million students studying in the K-12 segment who require uniforms, textbooks, notebooks, bags, shoes, and other stationery material. The market is estimated to be INR 55,000 crores p.a. and is currently not too organized.