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Top 15 Employee Engagement Software and Tools in 2020

Employee engagement software is at the surge in popularity in recent times as many people are forced to work from home. This is no shock since keeping employees engaged is a great way to increase turnover. Employee engagement tool also helps increase productivity in the workplace. There are many employee engagement tools and techniques out there that simplify the communication process for your team but we have listed top employee engagement apps and tools.

To better engage permanent full time and part-time employees are optimized for mobile applications by most systems. To push disengaged workers employers consider buying the best employee engagement software and the best employee scheduling app. The software may also be known as workforce engagement software. To help you out, the following is the list of employee engagement strategies & software.

Table of Contents

What is Employee Engagement Software?
Top Employee Engagement Softwares
Conclusion

What is Employee Engagement Software?

Employee engagement software is a type of application program that helps in increasing employee job satisfaction and retain talented employees and is used by different organizations. The main goal for this is to help employees become absorbed in the culture of their organization and also become more productive and effective. This is sold on a subscription basis.

As a formal management system, employee engagement dates to the 1990s. As organizations, they tried various strategies to motivate employees and encourage loyalty and productivity. After the rapid growth of the HR technology in the 2000s, employee engagement software quickly became popular human resource management for reducing turnover. Telephone, online contact, and service centers are the biggest customers for employee engagement software to combat employee stress and turnover.

Employee Engagement Software provides the following functionalities:

Surveys – The amount of customization of worker engagement survey choices plays a crucial section in a tool’s coverage capabilities. Some tools supply engagement scores supported feedbacks.
Performance management – Worker management and performance management code are tightly joined. Most worker engagement tools with performance management can change managers to each assess staff and be evaluated by staff.
Feedback supports – The code disagrees within the forms of feedback they supply. Counting on the fashion of the organization, they require to make sure the tool offers feedback.
Many worker engagement tools supply anonymous feedback. This may facilitate in encourage honest responses. The worker will give feedback on their manager. It may also be used effectively in peer-to-peer feedback.
Employees are going to be engaged additional if they’re receiving constant feedback instead of once. If this sort of feedback you select for your organization, you may need to make sure the engagement tool has the practicality for continuous feedback.
Mobile – Staff work from totally different locations. If the mobile could be a workforce then the mobile app is vital for that. A robust mobile app is employed across a company that ends up in a rise in investment.

Best Employee Engagement Tools

Given below is the list for employee engagement software –

15Five Continuous Performance Management Reviews

This is a leading continuous performance management solution software that guides employee growth and development. According to strategic weekly check-ins, 15Five delivers everything a manager needs to maintain visibility and impact employee performance. It also includes continuous feedback, objectives tracking, recognition, 1-on-1s, and 360-degree reviews.

15Five Continuous Performance Management Plans

Plan	Pricing	Description
Free	$0/person	Limited features for small teams that are just getting started.
Basic	$7/person/month	Essentials for large teams and small organizations.
Plus	$14/person/month	A complete solution for organizations of all sizes.
Performance	Custom Pricing	Custom plan with everything 15Five has to offer.

Lattice Performance Management Reviews

This is people management software that helps leaders develop engagement in high performing teams. With lattice, we can launch to 360 reviews, share feedback and public praise, facilitate 1 on 1s, set up goals across your company, and administer employee engagement surveys.

All with a powerful analytics layer that surfaces insights to help you create a high performing and engaged workforce. Lattice is a user-friendly product that leads to a platform where the employees are excited to use, saving HR teams time and resources. Deep customization makes lattice adaptable to your company’s culture.

Lattice Performance Management Plans and Pricing

Plan	Pricing
Grow	$3/person/month
Performance	$9/person/month
Performance & Engagement	$12/person/month
Enterprise	Custom Pricing

* Starting annual agreement is $3,000
*Pricing is for first time customers

Officevibe Reviews

This is an easy team development platform. It empowers managers to strengthen trust, collaboration, and team performance. This platform lets managers perceive their groups by distributing weekly pulse surveys that embrace opportunities for anonymous, written feedback. It helps in aggregation comprehensive survey reports and provides tools for creating enhancements. This software system additionally supports managers in mastering 1-on-1s by making a cooperative structure for robust conversations.

This software system provides

Giving staff a secure area to share their thoughts
Pointing out areas for up worker engagement
Structuring 1-on-1s that drive performance and align folks with goals
Providing further recommendation round the challenges of team management.

Officevibe Plans and Pricing

Plan	Pricing
Manager Essentials	Free
Premium	$4/user/month

Fond Reviews

Fond is a global SaaS platform that consolidates employee rewards and recognition processes into easy to use solution. Using this software employees and managers can recognize each other, redeem rewards, access exclusive corporate discounts, and measure success. Thus HR departments spend less time managing programs and more time driving results. Fond headquarter is in San Francisco, California.

Fond Plans and Pricing

Kudos Reviews

You can build a culture of appreciation with kudos employee recognition. This software empowers in over 80 countries to recognize their teammates and achievements. Due to the lack of appreciation consistently cited as a top reason employees leave their jobs. There should be a core strategy for employee recognition irrespective of the number of employees.

Kudos is a private social network that allows connecting the employees to your company and one another through peer to peer recognition. This also helps in communicating your brand, connect team culture, and reinforce values, and all of these are the essential elements for creating a foundation for employee engagement.

Kudos Plans and Pricing

Kudos offers three plans – Kudos Basic (Peer Recognition), Kudos Plus (Complete Engagement), and Kudos Enterprise (More Controls & Insights). You can visit there website and contact for pricing details.

Qualtrics Employee Experience Reviews

Qualtrics’ employee experience helps organizations better manage experiences. The company is to enable enterprises and organizations of any complexity to continuously improve their product experiences, customer experiences, employee experiences, and brand experiences. That is why this is trusted by the world’s most organizations. They all rely on Qualtrics to inform decisions that enable success. No other software has the combination of speed, power, flexibility, scalability, compatibility, ease of use, value, and support.

Citrix Workspace Reviews

This software is a completely secure digital workspace that is designed for empowering people to work better anytime, and anywhere without distractions. It basically integrates with your existing systems, so that you can focus on driving digital transformation.

Citrix Plans and Pricing

Plan	Pricing	Description
Workspace Essentials	$2/user/month	Helps small and medium businesses protect their data by simplifying and securing the login process to SaaS and web applications.
Workspace Standard	$7/user/month	Core Workspace offering with intelligent features for modern workers who use SaaS, web apps and file sharing services.
Workspace Premium	$18/user/month	Complete workspace solution for workers who need a full digital workspace with granular security but don’t require virtual apps and desktops.
Workspace Premium Plus	$25/user/month	Comprehensive workspace solution inclusive of hybrid deployment options for Citrix Virtual Apps and Desktops.

TINYpulse Engage Reviews

This software sends a quick, one question a pulse to your employees each week. Employees have to respond using their browser, slack, IOS, or android device.

Quantum Workplace Reviews

Quantum workplace is an employee and performance management software that helps managers to become the central drivers of workplace culture. This software provides team leaders with direct access to worker feedback and time insights. So they will work higher each day.

It includes surveys, goals, recognition, feedback, one-on-one, and alert options. Also, it provides a robust answer for team engagement and continuous improvement.

Motivosity Reviews

Motivosity company intends to help people to be happier at work. It provides the best employee recognition software platform used by companies like Hitachi chemical, Cotopaxi, Instructure, etc. it provides 95% of customer experience and also user engagement rate. This software gives amazing results by connecting employees to each other.

Motivosity Plans and Pricing

Plan	Pricing	Description
Connect	$1/person/month	Help People Belong
Listen	$2/person/month	Understand team sentiments
Recognize	$3/person/month	Build a culture of Gratitude
Lead	$6.50/person/month	Help Managers be Leaders

Peakon Reviews

This is an employee success platform that converts feedback into useful insights you can put to work. It helps to improve through personalized training and suggested actions. It makes it easy for employees to voice their perspective without being overwhelmed by questions. Also, it builds a robust and accurate dataset that you can use to provide your employees leaders with recommended actions.

Its benchmarks provide a realistic view of your progress against your industry as well as employees. It optimizes employee engagement and improves retention by connecting insights across all aspects. Peakon measures how inclusive your culture is and provide a safe space for cases of misconduct to be raised anonymously.

Peakon Plans and Pricing

Plan	Description
Essential	Measure your employees engagement and transform feedback into insights you can put to work
Business	Go beyond engagement and receive insights into each phase of your employee lifecycle, from onboarding to seperation
Premier	Use advanced analytics and custom reporting to fully understand your employee experience – perfect for those with complex requirements

Visit their website and contact them for full pricing of each plan.

Blink Reviews

Blink is used to improving the lives of frontline employees through technology and empower them by giving them a voice. It combines instant messaging, cloud storage, and powerful integrations. This is a shortcut for a happier and more productive workforce. It also makes your data more secure and compliant.

Blink Plans and Pricing

Plan	Pricing	Description
Business	$3.40/person/month	Unlock the full potential of Blink for your whole organization.
Enterprise	Custom Pricing	Ideal for large organizations looking for enhanced customization.

Culture AMP Reviews

Culture AMP is the leading culture platform that helps companies across the globe to take action to improve employee engagement, retention, and performance. It is quick to deploy platform provides continuous listening, feedback, and development tools. It delivers the insights needed to confidently make decisions and effectively prioritize resources to maximize individual and organizational performance. It helps CEOs connect with their people, CHROs make data-driven decisions, and managers lead their teams.

Culture AMP Plans and Pricing

Plan	Ideal for	Description
Self-starter	50-200 employees	Everything you need to get up and running quickly
Standard	200-1000 employees	Strategic coaching to guide you through the journey
Enterprise	1000+ employees	Dedicated expertise and support tailored for your complex needs

Visit their website and contact them for full pricing of each plan.

Energage Reviews

People spend their lives at work. Yet, employee engagement in the USA has been stagnant at just 31%. Four out of five employees wish they were doing something else instead of this, which basically means organizations are having trouble acting on their strategy. Energage has spent 14 years studying these types of organizations. They are called top workplaces. It helps in improving the working lives of employees, create value, and achieve real results.

Reflektive Reviews

This is the leading performance management platform that helps in business growth through continuous improvement. Using Reflektive, organizations can scale constructive, ongoing conversations that increase employee engagement. Reflektive has raised more than $100 million and was ranked 13th fastest growing company in North America.

Conclusion

By now, you would have known about employee engagement software and also its impact on employee motivation, satisfaction, and a healthy working environment. And also that the engagement does not have an off switch, you just do not do it once. Nurturing the engagement levels at your company is a daily task that you should pay attention to. By using the employee engagement software, all this becomes much manageable. Choose wisely for you, your employees, and your company with the best options given above.

FAQs

What are employee engagement strategies?

A good employee engagement strategy includes assessing existing problems, working with employees on solutions, and then implementing changes to help foster employee satisfaction.

What are engagement techniques?

Some engagement techniques are:-

Capture Attention
Make Them Think
Check Their Knowledge.
Stick With What’s Important.
Leverage Blended Learning.
Use Responsive Learning.
Use Case Studies.

What companies have the highest employee satisfaction?

Companies with the Happiest Employees

Netflix.
Bloomberg.
ServiceNow.
Google.
Tesla.

March 13, 2021

Complete Scenario of NITES involvement in Tata Employees Layoff

Tata technologies were founded in the year 1989, situated in Pune, India. It is one of the largest firms in India. Tata Technologies provides services in product lifecycle management, engineering and design, product development, manufacturing, and IT service management to automotive and aerospace original equipment manufacturers and their suppliers.

The company has branches in North America, Middle eastern countries, the Asia-specific region, and Europe. They have their regional headquarters in the United States. The company has around 8,000 employees which is their global workforce since they operate in more than 25 countries.

There was a recent controversy against Tata technologies which said that they had illegally terminated around 800 – 1000 employees.

Why Tata terminated 800 people
NITES’s involvement in the Scenario
What Tata has to say
FAQ

Why Tata terminated 800 people

In June 2020 Tata Technologies has put around 400 employees on Furlough. In simple terms, furlough is a temporary leave that is given to employees due to certain needs of the company or employer. It can be because of special needs like economic conditions.

June 2020, when the lockdown was imposed in India and the company saw its business slowing down during the pandemic. This was the reason for putting the employees on Furlough.

According to the company, the employees on furlough would be part of the company and would have access to their corporate insurance. But the employees wouldn’t receive their monthly salary until their furlough is removed. These 400 employees were asked to continue their leave until 31 December 2020.

On 1 March 2021, around 800 – 1000 employees received an email of termination from the company. The email had the content which said that the employees would receive a month’s salary and 31 March 2021 would be their last working day. The employees will be terminated without providing them their compensations, when they were on furlough.

The email received by the employees said that they were being asked to leave since the company was not able to find any billable assignments for its employees. The company has also stated that during the employee’s paid and unpaid leaves.

The company stated that, they tried to find billable assignments for employees. But unfortunately, they couldn’t find billable assignments according to the employees proportionate job expertise, work experience, and qualification.

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NITES’s involvement in the Scenario

NITES is an employee union that is a non-profit organization. It is based in Pune, Maharashtra. NITES (Nascent Information Technology Employees Senate). NITES has received several complaints from the employees of Tata regarding the termination.

Harpreet Saluja, the president of NITES has filed a complaint with the Labor Commissioner’s office in Pune. NITES has filed a complaint to take legal actions against Tata technologies, Hinjewadi, Pune. NITES filed a complaint stating that the employees were illegally terminated for maintaining the profitability of the business, during the pandemic.

According to the purview of the Industrial Disputes Act and the Shops and Establishment Act, IT firms like Tata technologies can’t implement Furlough. The concept of Furlough is considered illegal for IT firms.

In the complaint which was filed to the Labor Commissioner Pune, NITES wrote that the company has violated the Statutory Labor Laws and other rules and regulations issued on 31 March 2020 by the Government of Maharashtra.

NITES has stated that they are expecting the authorities of the state/central government to take necessary actions towards the company. They would want the authorities to provide them with a basic structure to handle such situations.

They would want the authorities to take strict actions so that this can be an example to other companies, also the rights of the employees would be protected. This incidence should avoid such insensitive behavior towards employees in the future. This was stated in the complaint letter provided by NITES.

Revenue of Tata Group

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What Tata has to say

Tata Technologies have refused such claims. It stated that they haven’t terminated 800 employees. They had a discussion with a selected set of employees and according to the discussion they had opted for paid leave and later on followed by unpaid leave. This was for a specific period of time.

The company also stated that these employees were still part of the company and received health and medical insurance from the company. Tata has claimed that even their immediate family members were covered under their corporate insurance policy.

The company said, due to the arising business challenges during July 2020 because of the lockdown in India. They had taken measures to make Tata technologies an agile, flexible, and responsive organization. They have said that the statement by NITES is not true.

FAQ

Do employers have to pay for layoffs?

Generally employees who lose their jobs in a layoff have no automatic right to severance pay but there are few exceptions-Mass layoff severance. The company has to provide a small amount of severance.

Can you be rehired after being laid off?

Yes, There are are no laws prohibiting employers from rehiring laid-off employees.

Who qualifies for furlough?

You can be furloughed whether you are on a full-time, part-time, agency, flexible or zero-hour contract, but you must have been on your employer’s payroll before the extension was announced.

Conclusion

The spokesperson of the company has stated that they were successful in assigning 18% of their employees with new tasks and projects. Meanwhile, the company has been trying to communicate and maintain the relationship with the remaining set of employees sticking to their statutory norms.

March 13, 2021
Coolwinks – Making Eyewear Stylish and Affordable
In the Indian market, every year there are different sets of trends, be it exciting, crazy, or bizarre, the fashion keeps changing. If one wants to remain trendy and up to date, then they need to hold the grip on current trends. This isn’t just restricted to the clothing, footwear, and hairstyles but also the eyewear too.

Today from classic to trendy, the fashion in the eyewear category is too witnessing exciting shifts and rolls. To be updated one needs to get rid of the old-fashioned trends and take a chance to experiment with their frames, sunglasses, goggles, lenses, and much more.

There are many brands in India that are influencing the trends in the eyewear industry and one such market mover is Coolwinks. Know more about these eyeglasses brands in India in this article.

Highlights:

Startup Name

Coolwinks

Headquarter

Gurgaon,
Haryana

Founder

Ganesh
Iyer

Sector

E-commerce
(Eye Wear)

Founded

2016

Website

www.coolwinks.com

About Coolwinks
Founder of Coolwinks and How it started
Coolwinks – Name, and Logo
Coolwinks – Business Model and How it works
Coolwinks – Competitors
Coolwinks – Product Range
Coolwinks – Marketing Strategies
FAQ

About Coolwinks

Coolwinks was founded in the year 2016. It is online eyewear stored based Indian startup that deals in various kinds of eyewear products including sunglasses, eyeglasses, and contact lenses.

They have become a brand in India where one can find the latest frame styles, designs, and technologies that are supporting the eyewear industry. Their main focus is to target the audience where they can market their youthful eyewear products.

Currently, they have served more than 30,00,000 lakh customers from various geographic locations. They have more than a million people who have used their application, and have more than 4000 different products to offer to their customers.

Founder of Coolwinks and How it started

Ganesh Iyer is the founder of Coolwinks. Before founding the company he has worked with companies like Goibibo and Akbar Online Booking Pvt. Ltd. He has done his Bachelors in Commerce from Mumbai University and has also completed his Masters in Business Administration in Marketing & IT.

In 2016, when Ganesh was interested to start something on his own he found out that there is essentially a problem that has been unaddressed in our country and that was a poor vision. He thought that there is a huge challenge to get the accessibility of eyeglasses and eyewear’s that are suitable for the human eye.

That is when he envisaged a company that would ensure to provide people with eyewear products that are stylish, affordable, and of high quality. The mission was to enable people to see better and give them a life with a better vision.

Coolwinks – Name, and Logo

Coolwinks is a name that is self-explanatory. The company is a leading online eyewear brand that focuses on the fashion-forward range of cool spectacles, sunglasses, and eyewear products.

The logo of the company is also quite interesting, wherein the semi-colon is wearing a frame depicting what the company offers for its customers.

Coolwinks Logo

With hassle-free deliveries, Coolwinks is driven towards helping thousands and millions of people to improve their vision and in turn lead towards better lives.

Coolwinks – Business Model and How it works

Coolwinks has a wide range of products that are almost non-competitive in comparison to other similar platforms in India. They offer high-quality and affordable products that are in accordance with the target audience, youth, and trends of the industry. The business model of Coolwinks is an e-commerce platform.

Key Aspects of their Business model are:

Quality is a priority

Quality is one of the prime factors of the business model of Coolwinks. Their aim is to provide eyewear products that are of prime quality, so that their customers are satisfied.

Affordable products

Coolwinks aim to provide products that are of high-quality and are affordable at the same time for the people of India. Their aim is to have maximum reach and maximum availability at an affordable price.

Trendy and Youthful products

Fashion trends with low costs are the mantra of Coolwinks. Their products are known to be very youthful and fashionable which is currently in the trend.

Wide range of variety

The business model of Coolwinks introduced a wide range of products that are conceptualized with the changing times and have thousands of varieties in it.

Coolwinks – Competitors

There are various eyewear brands in India now. Though Coolwinks has its own presence in the market, there is tough competition for it too.

Top Competitors of Coolwinks are:
- Lenskart
- Specsavers
- Classic Specs
- Waldo
- Eyerim
- Smart Glasses Buy
- Eye Buy Direct
- Leoptique
Coolwinks – Product Range

Coolwinks has a diverse and wide range of categories and products. Broadly they have products differentiated for males, females, and kids. Along with that their major categories include Eyeglasses, Sunglasses, and Contact Lenses.

Each of them has a different range of offerings which vary from colors, sizes, types, brands, shapes, etc.

Coolwinks – Marketing Strategies

Coolwinks have had some amazing marketing strategies which have helped them in establishing their brand in the Indian market in a very short span of time. Initially, they went with a strategy where they sold their product at as low as Rs. 5 per sunglass.

Indians bought 2 sunglasses of Coolwinks at just Rs. 10 worth Rs. 800 each by applying a code – SUN20. The customers got a cashback of Rs. 1000 using PayTM and there was similar cashback offers on payment methods like PhonePe and PayPal.

Coolwinks Marketing Strategy

The reasons why they went with this amazing marketing strategies were:

1. Coolwinks wanted to achieve loyalty from the Indian market towards their products.

2. They were enjoying the affiliate earnings from online payment platforms like Paytm.

3. The business model of Coolwinks and their marketing strategies have attracted various investors and have drawn various investments, and They are able to offer various discounts.

4. Coolwinks doesn’t spend huge amounts on advertisements and thus is able to save a lot on advertisement expenses.

FAQ

Who owns Coolwinks?

Essilor International which is a world leader in ophthalmic optics owns Coolwinks.

Who is the founder of Coolwinks?

Ganesh Iyer is the founder of Coolwinks.

Which companies does Essilor own?

Essilor owns Varilux, Crizal, EyeZen, Xperio, Bolon, Kodak lens, Foster grant, and Optifog.

Conclusion

The huge online eyewear platform, Coolwinks, has been selling multiple types of products for every purpose and for every category of needs. Coolwinks has now become very popular among the Indian market which caters to all customers within the geography and is expanding its customer base each day.
March 13, 2021
The Growth Of Startup Ecosystem In India

India is one of the fastest emerging startup ecosystem. The Indian technological landscape has seen a tremendous growth towards creation of innovative startups which has lead it to become the 3^rdfastest growing hub for technology startups in the country. The current article analyses the India’s position as a global startup hub that is becoming attractive for investors startup, and corporates.

From having just a handful of tech companies to couple dozens and now thousands of innovative new ventures, India’s startup ecosystem has grown immensely from the past decade. India now has 55,000 startups with more than 3200 startups raising $63 Billion in funding in the last five and half years alone.

The internet has helped paved the way for thousands of startups to rise over the past decade, address unique problems, transform entire industries and create new segments. With deep data insights to influence strategic decision making in governance, investments, growth, and other core aspects driving the Indian startup ecosystem.

Indian Startup Funding
Indian’s Unicorn And Soonicorns
Infrastructure And Resources That Help The Startups Growth in India
Government And Regulatory Landscape
The Main Hubs of Indian Startups
The Indian Investor Landscape
Fintech Boom
The Growth of Innovation in India

Indian Startup Funding

Over the years the growth of startups has brought in more international investors and boosted their confidence towards India. Fundraising reported by SEBI registered ventured capital funds grew from Rs.326 Crore in 2014 to over Rs. 2,703 Crore in 2019 showing the increase which is up to 8 times more now. The share of actual capital raised to commitments in 2014 was 35% compared to 61% in 2019, indicating the growing investor interest towards investments opportunities in India.

The most beneficiary sectors are EdTech, fintech, online gaming and OTT, ecommerce and enterprise tech. But because of the covid 19 scenario in 2020, the total capital inflow in Indian startups expected to dip in 202 by as much as 36.2% compared to 2019 to reach $8.1 billion. The total capital inflow in Indian startups for the year 2020 is expected to be the lowest since 2017.

Indian’s Unicorn And Soonicorns

India only a single unicorn in 2012, but in 2016 the number increased 10. It is now the home to 34 well known Unicorns with a combined valuation of $115.5 billion, 52 Soonicorns with the potential to become unicorns by 2022. With an overall funding skyrocketing to $63 Billion from 2014 to 2020. In the past decade, India has shown a great appetite for technology, data and the internet.

Some of the popular unicorn companies in India

Excluding that India has 53 startups in India that have the potential to achieve $1 billion pus valuation by the end of 2022. Out of these numbers the fintech sector has 19 unicorn which is different from the unicorns where enterprise tech startups which have 7 unicorns

Infrastructure And Resources That Help The Startups Growth in India

India now has an estimated 100 plus startup incubators across the country, mostly housed in academic institutions; this number is likely to cross 300 by 2020. This means that there will be a startup incubator in every state, city and town in the country are enabling entrepreneurs to access resources and solve problems in their local areas. Next, we have Co- working spaces that are growing at an exponential rate and this helps entrepreneurs to have office spaces in their neighborhood.

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Government And Regulatory Landscape

Many states are coming up with policies in 2020, as the government at the central and state level have recognized the potential of startup as a driver for job creation and are hence enabling a better regulatory environment for starting up. The startup culture in India and other policies are looking at addressing the problems of B2C entrepreneur level.

NITI Aayog is in the process of making the necessary infrastructure and resources available through the Atal Innovation Mission (AIM). AIM is adopting a more B2B approach by supporting in the scale up of the existing incubators such as NSRCEL, C-CAMP etc.

The Main Hubs of Indian Startups

In 2020, Bengaluru the silicon valley of India is still the startup capital of the country with a total funding amount of $28 Billion across 1,876 deals 2014 to 2020. It’s the startup hub in India for startups. In addition to that the other top hubs are Delhi and Mumbai, while the emerging hubs are Pune and Hyderabad as they have recorded an annual growth rate of 45% and 37% respectively.

Top startup hubs in India as of 2020

In the tier segment Jaipur and Goa have outperformed cities like Hyderabad and have earned their spot in top 10 startup hubs as of 2020 based on the number of funding deals.

The Indian Investor Landscape

From just a handful of investors and a few startups to over 49 thousand startups and over 2,000 Indian and International investors, the startup ecosystem have come a long way in past five years. The International investors now routinely come to India to invest in the burgeoning tech ecosystem. The frequency of participation by the existing investor is on the rise.

The total count of unique investors every year

Many corporations have played a major role in the funding trends, according to Datalabs by Inc42 analysis, 2019 was not one of the good year for venture capitalist. In 2020 however, there are approximately 4,640 active investors in India. Among these 59% (2,751) are angel investors and about 18.3% (849) are venture capital firms. Overall there is a downward trend in terms of unique investor’s participation similar to what has been observed in 2019.

Fintech Boom

The fintech sector continues to grow at rapid speed. Paytm can easily be called a pioneer in fintech as at gave the power of choice and how to spend to people who never had wallets or bank accounts. Following the success of Paytm, many other wallet companies have shown promise. We believe this sector will continue to attract investors’ interest in 2019 as the business ideas in fintech.

The Growth of Innovation in India

The interim budget conveyed the message that India youth should constantly innovate to drive the country growth. Towards this end, the government has pushed for the use of digital technologies through initiatives such as the National Program on Artificial Intelligence (AI) and the establishment of nine centers of technological excellence.

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Conclusion

While the first decade of 21^st century was all about bringing India’s cities and metros online, the past ten years have been about using the internet to create businesses and startups and take the digital torch to rural India. India is today the home to world’s largest working population and startups are expected to take full advantage of this in the next five years.

The country has more than 500 million internet users. Which is why we can expect an active implementation of block chain, AI, IoT and data analytics across multiple technology sectors. For example the IoT in India has reached $15 billion by 2020. It will account for approximately 5% of the total global market. On the other hand, AI is predicted to become as big as $ 15.6 trillion by 2030.

Nevertheless, 2025, the number of startups in India is expected to cross 100K, creating more than 3.25 Million jobs in the process. At the same time, the total funding in Indian startups is likely to increase to over $150 Billion and with the total value creation exceeding $500 Bn. Once the medium and long-term pandemic impact subsides, there’s no stopping Indian startups.

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FAQs

What does startup ecosystem mean?

A startup ecosystem is formed by people, startups in their various stages and various types of organizations in a location (physical or virtual), interacting as a system to create and scale new startup companies.

What is entrepreneurial ecosystem?

Entrepreneurial ecosystems or entrepreneurship ecosystems are peculiar systems of interdependent actors and relations directly or indirectly supporting the creation and growth of new ventures.

What makes a good ecosystem?

A healthy ecosystem consists of native plant and animal populations interacting in balance with each other and nonliving things, for example, water and rocks.

March 13, 2021
Is Global Semiconductor Shortage Impacting the Automotive Industry

The global automotive and tech industries are on the edge as a wave of a supply shortage of semiconductors has hit them hard and how. Computer chips manage or probably run almost everything under the sun.

From nuclear plants to the internet cables, stabilizing suspension systems, and regulating engine temperatures, we need them more than ever since technology surrounds us in a way that we are yet to comprehend.

Computer chips are almost everywhere, in the cars we drive, in the smartphones we use, in devices like refrigerators, laptops, television sets, etc. We can’t imagine our lives without these. The shortage of these chips has turned down a few economies and soared for a few others around the globe.

What are semiconductors
Scarcity of Semiconductors around the Globe
Reasons for the scarcity of semiconductors
Higher demand for semiconductors
Effects on the Indian market
What happens next
FAQ

What are semiconductors

Semiconductors or chips as we commonly know them are basic structures used for encrypting logic and memory functions in automobiles, phones, laptops, and gaming devices. Semiconductors are integrated or electronic circuits printed on conducting materials, the most common being silicon. They are the basic building blocks for making computers and running software.

Over the decades, developers have managed to squeeze more circuits into tinier circuits making our computers and devices smaller and cheaper. The semiconductor fabrication is based on several transistors, the smallest part of the chip’s electronic component, per square millimeter. The factories or facilities that produce semiconductors are known as “Fabs”.

The most advanced Fabs are known for semiconductors that measure 5 nanometers. That’s a millionth of a millimeter. Smaller the semiconductor, the higher the transistor count per square millimeter. The most highly functioning semiconductors are ones having a density of 100 transistors per square millimeter.

Scarcity of Semiconductors around the Globe

A chain reaction was set off when the pandemic hit us. As governments around the world imposed strict lockdowns, the demands for automobiles took a sharp U-turn. The automobile industry is one of the largest consumers of electronic chips as cars are turning into devices with power windows, machine control, and other features that use Artificial Intelligence. All these functions are integrated through semiconductors.

Automakers like General Motors and Ford shut down several plants due to a decline in demand and production was brought to a halt. The sales fell drastically and companies cut short on their purchases of semiconductors.

While the pandemic forced us to stay at home the need for indoor entertainment rose substantially. This resulted in an increased demand for tablets, smartphones, and laptops worldwide. The ripple effect called upon a higher demand for semiconductors in the tech industry. Tech companies began roping in more chips and some even stacked a few envisioning the shifts in the global demand.

The market recovered at a better pace than anticipated and the demand for the auto making companies started to re-surface. Meanwhile, the tech industry gorged up 70% of the semiconductors being produced and left the automakers high and dry.

Largest Semiconductor Companies by Revenue

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Reasons for the scarcity of semiconductors

The USA is the largest producer of semiconductors in the world. Due to reforms implied by former President Donald Trump, the USA severed ties with Chinese companies and limited the chip sales export to China. China stockpiled chips and other countries followed suit.

The American break up with Chinese companies turned the demand wave to TSMC, Taiwan Semiconductor Manufacturing Company, and other East Asian companies. TSMC and Samsung created a monopoly over the production of semiconductors which add up to 70% of the total production.

America’s semiconductor production has plummeted to 12% from 37% since 1990. Consecutive changes in political leaders and bare minimum funds have discouraged the overall production.

Other factors that catered to the scarcity were a huge fire in a Japanese chip factory in October 2020 and a cold snap that withered two semiconductor factories in Texas.

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Higher demand for semiconductors

The TSMC and other east Asian companies are working under extreme pressure to meet the demand worldwide. It might sound exuberant for the company, but it is far from what reality is.

One might wonder why can’t more Fabs be built in order to sustain the demand. Fabs have peculiar prerequisites such as temperature-controlled environments, dust control, highly volatile pieces of equipment, and a minimum of five years of time to get it ready for production.

Not to mention the sky-high cost requirement for setting up a Fab. No wonder the largest producer of chips America, is far from its competitors lacking the funds and support from its government.

Reportedly, the demand has rocketed due to the requirement of semiconductors in the production of 5G smartphones. Every advancement in the electronic industry is largely based on the exploitation of semiconductors. As the world gets 5G ready, companies have massive supply demands for semiconductors.

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Effects on the Indian market

Indian automakers depend largely on imports of semiconductors. The worldwide demand, too few supplying agencies, and the waiting period have the Indian automakers worried as they import electronic requirements totaling to Rs 3000 crore every year.

“The big concern for the auto industry and Mahindra, and in fact for the world, is the semiconductor shortage. (It is) something that we’re very perplexed with, and something where the end is not clearly known as to when this fall will go away,” Pawan Goenka, MD, and CEO of Mahindra & Mahindra, said during a press conference on the company’s Q3 results, on February 5.

During Tata Motors’ press conference on its Q3 results on January 29, PB Balaji, CFO, Tata Motors, said that up until January, there has been no impact on the company due to the shortage of semiconductors. “Having said that, the risks are real and conversations are happening with all tier-1 and tier-2 suppliers and with the semiconductors industry as well to ensure that supplies continue.

From a demand perspective, we are going very fast, and that’s also adding to the pressure that we have. This is something that is being managed on a live basis, and we will ensure that we do our best to minimize the impact.”

“This is a challenge, and you need a hell of a lot of firefighting to get through,” Balaji added.

What happens next

The shortage will entail a while longer as the USA finds solutions for the production and sale of semiconductors. The world waits as new policies are put in place and the trade resumes.

Chip companies might be benefitting from the new demand drive but this locks them up in a long-term deal which brings more pressure on production.

The biggest winners are companies such as California-based Applied Materials and Lam search and Japan-based Tokyo Electron who make the highly complex and expensive manufacturing equipment required to produce semiconductors.

FAQ

Why is there a shortage of computer chips?

The pandemic resulted in an increased demand for tablets, smartphones, and laptops worldwide. The ripple effect called upon a higher demand for semiconductors in the tech industry.

Where are most semiconductors manufactured?

Taiwan, South Korea and China are the countries where most semiconductors are manufactured.

Why are semiconductors so important?

Semiconductors are an essential component of electronic devices, , computing, healthcare, military systems, and transportation. In short Semiconductors are the Brains of Modern Electronics.

Conclusion

Companies around the world believe that the demand for chips will barely slow down. The share prices of TSMC and Samsung have grown over 190% and 61% respectively over the last few years, all thanks to the shortage of chips.

The automakers falling short of chips, need to take a long hard look at their supply chain management and cost-effective pricing as many automobile companies saw a hike in their products due to this scenario.

This might exhibit as a complex problem for bigger players in the global market but the end result is inflicted upon the consumer who is forced to pay a higher cost.

March 13, 2021
How Swiggy is Transforming Delivery Service With the Help of AI

Swiggy was founded in the year 2014. It is currently India’s largest delivery and online food ordering platform. It is operating in 100 different cities in the country. Swiggy has been using AI to improve its orders and delivery. Let’s look at the steps taken by the company to use AI for the smooth delivery of its products.

AI usage for smooth deliveries
Customers
Delivery Executives
Restaurants
Time and Space
AI Strategy
FAQ

Swiggy Using AI for Smooth Deliveries

Swiggy has used AI to grow its order value by over 200%. The company said that the real challenge they faced was real-time decisions or optimizing their products. They said that, when the customers are deciding what to order, the delivery executives keep moving around and restaurants get busy with their customers and orders. Finding a balance between these three was the real challenge faced by them.

Customer Sattisfaction

The company stated that first promise they would maintain is that they will deliver the products within the given time period. They have built an AI system, where the customers will be able to see what they would prefer, at what time, etc. in the company’s platform. It is designed using AI which makes it easier for the customers to choose their order.

The platform is built in a way where it would understand the language used to refer to the same item in different names. For example- In India chicken is addressed using different names in different languages and AI helps in making the platform understand that all these different names means the same dish.

Swiggy’s Delivery Executives

The location of the delivery executives is tracked by the company on a real-time basis. They get to know whether the delivery executive is available to fulfill the order or not using the AI system. This will help the company in confirming the order given by the customers.

The company also needs to understand, whether the executive is a new person or an experienced person which is done through an automation Process.

The delivery executives will have to mark arrived, when they reach a restaurant for picking up the order. The company uses live GPS tracking so that they don’t click arrived even before reaching the restaurant. This helps the company to know that they are physically present in the restaurant.

Valuation of Swiggy ($m)

Swiggy’s AI Solution for Restaurants

In the same way, restaurants will also face similar challenges. It would take different time periods to prepare different dishes. Some may take 20 minutes while others may take up to 30 minutes to prepare. The company has built systems to take into account how much time would it require to prepare the dishes ordered by the customers.

Another area where the company concentrates is on food quality. Sometimes the customer would receive a different dish from the one they would have ordered. The company has built a box that has a camera in it, which will take pictures of the food to ensure that it is the right food. The company informed that it is a computer vision model based on deep learning.

Time and Space

The other prime factor the company takes into consideration is the time and space input. The uniqueness of on-demand services is that the customers need would change according to the time and location. The platform understands, whether it’s morning or afternoon and shows the restaurants and dishes accordingly.

AI Strategy

Swiggy has hired an AI team from across the globe. They have hired individuals who hold multiple PHDs from international universities, and people who work as senior scientists in places like GE research and IBM.

They have built a separate team dedicated only to applied research. This team is different from the data science team. This team will concentrate on solving the problems of the next 100 customers, while there is a team that looks at immediate problems.

The company receives terabytes of data weekly and around 40 billion messages per day. Swiggy has worked on putting this data to develop and build Machine Learning models. The company has said that they have also partnered to get third-party data.

Swiggy is also working on Artificial Intelligence on computer vision where for example a picture of a menu is automatically taken and converted into a file.

They are looking forward to building long-term capability by partnering with other research institutions and industries which are external. Swiggy has also partnered with various universities and institutions where they would fund the research programme and innovative ideas.

This is a step where the university students and Swiggy scientists would be able to work together in developing innovative models. They have also partnered with Amazon Web Services and a lot of startups.

FAQ

Who is the Founder of Swiggy?

Swiggy was founded by Nandan Reddy, Sriharsha Majety, and Rahul Jaimini.

What is the valuation of Swiggy?

Swiggy has a total valuation of $1 billion.

How many orders a day does Swiggy have?

Swiggy has a high number of orders with 1.4 million orders a day.

Conclusion

Swiggy has also made efforts to introduce Artificial Intelligence across the organization. This would help everyone build models around it. They have launched a training programme for their teams, analysts and even business leaders which is “AI for All”.

The vision of the company is to make AI part of their culture which has led them to build the capability and knowledge in the organization said Swiggy’s technological head.

March 13, 2021
Manufacturing Startup Ideas In 2021
For citizens, manufacturing has always been a profitable sector. It needs rational investment in the beginning, but once it is developed and founded, it earns a steady income. However, the option of a successful production concept is vital to the company’s performance. There are different business concepts in manufacturing worldwide where you can begin. In this article, we’d offer some top and best ideas for manufacturing companies that can start with low investment and generate high profits.

15 Small Scale Manufacturing Business Ideas with Low Investment

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While You Prepare For The Beginning Of Your New Business In The Industry, You Must Take A Look On The Top 15 Business Ideas For Manufacturing:

1. Manufacturing Garments
2. Essential Oils Manufacturing Startup
3. Manufacturing Bee Honey
4. Notebooks, Textbooks, Paper Manufacturing
5. Manufacturing Smart Phone Accessories
6. Wax Candles Manufacturing
7. Manufacturing Disposable Plastic Cutlery
8. Natural Beauty Products Manufacturing Unit
9. Rough Book Manufacturing Unit
10. Manufacturing Agricultural Fertilizers
Motivation To Get Started
FAQ’s
Conclusion

1. Manufacturing Garments

Manufacturing Garments

The recognition of style has led to high demand for clothing. Also, the demand never ends. Manufacturing is very productive. The price can start as low as 1 lakh and go to numerous different crores. This is one of the smartest startups with low investment and large profits.

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2. Essential Oils Manufacturing Startup

Manufacturing essential oil

Oil is used as cooking’s key value. It is also used to make shower soaps, humidifiers, and hair-cleansing products, hair-tonics, detergents, etc. Oils even have a good purpose in medicines. This business should be initiated in an area in which the raw material is easily obtained.

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3. Manufacturing Bee Honey

Manufacturing Bee Honey

The honey manufacturing business is linked to bee harvesting. It is one of the easiest manufacturing businesses to start with at a low cost. Because of its cure properties, honey is in great demand. The required investment is Rs.25,000. This is considered a good investment a company can do under 1 lakh.

4. Notebooks, Textbooks, Paper Manufacturing

Paper is used in all industries. High investment is not required for the manufacturing of paper. The required investment is 1 to 2 lakh based on paper size, volume, and quality, machinery, and space required. Education these days is becoming expensive. That could therefore turn out to be India’s most profitable startup.

5. Manufacturing Smart Phone Accessories

Manufacturing Smart Phone Accessories

Everyone uses smartphones. Their sales in past months have significantly improved and the market for their accessories has increased. Different accessories are used to decorate and secure the smartphone. This is a smart strategy with significant opportunities for progress. The investment varies between INR 50,000 and 2 lakh.

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6. Wax Candles Manufacturing

Manufacturing Wax Candle

During festival seasons, beautiful candles with a nice scent are always demanded, making this a very good idea for home-based businesses. There is not much space needed in this sector. The startup can be set up with a single room location. Just Rs. 25,000 to 50,000 is the cost for Wax, perfume, molds, dye, etc. are raw materials.

7. Manufacturing Disposable Plastic Cutlery

Manufacturing disposable plastic cutlery

Disposable plates, glasses, and cups are gaining in business fields because of their disability. The organization will start with basic machinery and very low investment. Small production machines can be needed for this. This may be one of two Lakhs best production firms.

8. Natural Beauty Products Manufacturing Unit

Manufacturing Beauty Products

There has lately been a major rise in the market for natural and herbal beauty products. People like their skin to be chemical-free and herbal. The goods must be herbal and their consistency is outstanding without the use of toxic chemicals. You will create a good client base and gain big profits in a short period.

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9. Rough Book Manufacturing Unit

Rough Book manufacturing

The need for exercise books will never be reduced because this is the first basic research necessity. The creation of rough books is very easy and takes little machinery. It is generally used by students at schools, in offices, etc.

10. Manufacturing Agricultural Fertilizers

manufacturing agricultural fertilizer

India is primarily a nation focused on agriculture. Farmers need large-scale fertilizers to boost productivity and protect their crops from pests. You can start with the fertilizer manufacturing unit if you have strong knowledge of chemicals and fertilizers. This organization has tremendous potential for expansion.

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Motivation To Get Started

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell” — Elon Musk.

” If you don’t find a way to make money while you sleep, then you will work until you die” — Warren Buffet “

Successful people don’t just become successful over night, what most people see as glance wealth, a great career. But all these success is as a result of hard work, strong purpose and hustle over time. Now is the time to start working more, only focusing on the most important things, and making much better products.

FAQ’s

What is the best manufacturing business to start?

This is the list of some profitable manufacturing startup ideas that you can start with low investment.
- Manufacturing Garments
- Essential Oils Manufacturing Startup
- Manufacturing Bee Honey
- Notebooks, Textbooks, Paper Manufacturing
- Manufacturing Smart Phone Accessories
- Wax Candles Manufacturing
- Manufacturing Disposable Plastic Cutlery
- Natural Beauty Products Manufacturing Unit
- Rough Book Manufacturing Unit
- Manufacturing Agricultural Fertilizers
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Which manufacturing business is most profitable?

List of Best and Most Profitable Manufacturing Business Ideas in India
- Furniture Business – Low-cost manufacturing business idea.
- Garment Manufacturing unit.
- Producing leather-related items Business.
- Manufacturing of school/office stationery items – Low-cost manufacturing business.
- Automobile Parts manufacturing – High profits manufacturing business.
What is the easiest thing to manufacture?

This is the list of some of the easiest manufacturing startup ideas are-
- carpentry. Take a piece of wood and just give it any nice shape.
- soap
- ceramic and pottery
- perfumes
- fireworks
- simple flutes and simple instruments. (for example for little kids)
- glue
- mop
What are the requirements in starting a manufacturing business?

Below are some of the most important factors you should consider before starting a manufacturing business.
- Demand for your product.
- Setup costs.
- Competition from other manufacturers.
- Previous experience, knowledge, and qualifications.
- Finance available and finance options.
- Business location.
- Rules and regulations.
What business can I start with INR 10000?

Here is a List of Businesses You Can Start Within 10000 Rupees
- Travel Agency.
- Start a blog.
- Mobile Repair Shop.
- Mobile Recharge Reseller.
- Candle Making.
- Food Stall.
- Affiliate Marketing.
- Tuition.
Conclusion

Any business that uses components, parts or raw materials to make a finished good is a good business and termed as manufacturing business. After manufacturing ,these manufactured goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product. You can also start a B2B manufacturing business and help other businesses to grow.

There are a variety of exciting manufacturing startup ideas you can start with if you have the financial capital. Pay heed to the roots of research startups, tax planning and legal and fiscal guidance. Then proceed with open eyes and high expectations.
March 13, 2021
An Overview of the Insurance Industry In India
The insurance industry in India is a pool of insurance companies hedging insurance seekers against risk through the means of insurance contracts. The contract is an agreement between the insurer and the insured in which the payment of the former guarantee for an uncertain event against a premium paid by the insured regularly. The premium is mentioned in the contract.

Insurance is a method of risk management to protect people and assets from uncertain losses. Life Insurance is precisely planned to protect your legatee financially in case something unfortunate happens to you. For investors, insurance is seen as the slow-growing, safe sector when compared to other financial sectors.

The Insurance Industry in India
The Insurance Industry Market Size in India
The Insurance Industry Challenges
Government Initiatives
The Future of Insurance Industry in India

All About Life Insurance | How to Buy and Choose

The Insurance Industry in India

The insurance industry in India has two major players:
- Life Insurance Corporation of India (LIC)
- General Insurance Corporation of India (GIC)
However, there are 58 insurance companies in total among which 24 are life insurance companies. Most of them have international ties.

Under the life insurer segment, LIC is the sole public sector company while there are six public sector companies in the no-life insurer vertical. GIC is the sole national re-insurer in the industry. The chain has many players such as brokers, surveyors and third party administrators serving health insurance claims.

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The Insurance Industry Market Size in India

Market Share of Top Companies in terms of Gross Direct Premium

The government has always pushed for insurance penetration in the economy. As per the data from sectoral regulator IRDAI, gross direct premiums of non-life insurers in India grew nearly 7% to Rs 14,809.27 crore in June this year while the 34 non-life insurance companies in the country had reported gross direct premium of Rs 13,842.27 crore in June 2020.

Of these, the 25 general insurance companies registered a 4.9% rise in gross direct premium during the month at Rs 13,041.51 crore as against Rs 12,435.71 crore in the year-ago period.

The five standalone private-sector health insurers witnessed a 46.6% jump in gross direct premium at Rs 1,556.89 crore from Rs 1,061.94 crore in June 2020.

Two specialised PSU insurers– Agricultural Insurance Company of India and ECGC Ltd — reported a decline of 38.8% in combined gross direct premium during the month at Rs 210.87 crore from Rs 344.62 crore a year ago.

Cumulatively, the premium written by all the players during April-June 2021-22 was up 13.8% to Rs 44,434.96 crore as against Rs 39,054.82 crore in the same period of 2020-21.

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The Insurance Industry Challenges

1. Using data to improve experiences

Using data to improve offerings and customer experience is not new for the insurance industry. But doing this well and consistently is a challenge. To use data for better customer experience companies need to leverage digital insurance solutions. The use of an agile cloud system and data analytics can help companies meet customer demands. Chatbots, mobile applications, and AI-generated quotes could be the best solution possible now.

2. Commoditization

Insurers are consistently trying to get new customers while retaining their present ones. Providing lower rates than their competitor is the best way to do that. But along with this modern consumer decides to purchase insurance based on how they are treated by the insurance company working with them.

Commoditization is the process of treating someone as if they are a mere commodity. The “commoditization” of insurance that has received so much press is a misnomer. Insurance is not a commodity but a complex good.

This challenge can be overcome with the help of Artificial Intelligence and automated process which can provide a personalized yet fast customer experience. Digital insurance technologies also help to create unique products quickly.

3. Digitizing small businesses

Small businesses are the most profitable market in the insurance industry. Even though big insurance companies are aggressively trying to move into this market. But this can cause loss to companies who are already serving small commercials.

To maintain their customer base and expand the insurance companies serving small commercials should provide digital interactions and digitize underwriting and claims. Investing in employees and new talent can help them expand their existing business and acquire new customers.

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Government Initiatives

The Government of India has taken several initiatives to boost the insurance industry. Some of them are as follows:
- The government has announced an increase in the Foreign Direct Investment (FDI) limit in insurance from 49% to 74% in the union budget of 2021-22.
- The government has also taken an initiative to provide for 100 million poor and vulnerable families under the National Health Protection Scheme that was launched in September 2018.
- To boost the safety of farmers’ crops and ensure the maximum benefit of crop insurance reaches farmers, the government of India has allocated Rs 16000 crores for Pradhan Mantri Fasal Bima Yojana (PMFBY) for the fiscal year 2021-22.
- The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue re-designed initial public offering (IPO) guidelines for insurance companies in India that are looking to divest equity through the IPO route. IRDAI has allowed insurers to invest up to 10% in additional tier 1 (AT1) bonds that are issued by banks to augment their tier 1 capital; this will help expand the pool of eligible investors for the banks.
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The Future of Insurance Industry in India

The future looks promising for the life insurance industry in India. Several changes in the regulatory framework have been proposed which may transform the way the industry conducts its business and engages with customers.

As per the data from sectoral regulator IRDAI, the gross direct premiums of non-life insurers in India grew nearly 7% to Rs 14,809.27 crore in June this year. The general insurance industry is expected to increase by 7-9% in terms of gross direct premium income in FY22, backed by healthy growth from the health and motor segments.

Demographic factors such as the growing middle class, young insurable population and retirement planning will support the growth of the Indian life insurance segment.

FAQs

What does the insurance industry do?

The insurance industry sells the financial product as a method of risk management to protect people and assets from uncertain losses. It pools funds from various insured entities to pay for the losses incurred. However, not all kinds of risks are protected through insurance. For a risk to be ensured it should meet certain characteristics.

What type of industry is insurance?

Insurance is a financial service industry.

What are the 4 types of insurance?

The 4 types of insurance include:
- Motor insurance
- Health insurance
- Travel insurance
- Home insurance
How large is the insurance industry?

As per the data from sectoral regulator IRDAI, the gross direct premiums of non-life insurers in India grew nearly 7% to Rs 14,809.27 crore in June this year. The general insurance industry is expected to increase by 7-9% in terms of gross direct premium income in FY22, backed by healthy growth from the health and motor segments.

Which is the biggest insurance company in India?

Life Insurance Corporation of India (LIC) is the biggest and oldest insurance company in India.

How many insurance companies are there in India?

There are 58 insurance companies in total among which 24 are life insurance companies and the other 34 are non-life insurance companies.
March 13, 2021
JioSaavn- The Revenue Model And Business Model
Jio is one of the topmost companies in India and it has a lot of potential customers. It is headquartered in Mumbai, India. In March 2018, JioMusic and Saavn merged in a deal worth $1 billion. After this, Saavn and JioMusic rebranded as JioSaavn.

The merger was a huge advantage for both Jio and Saavn. The main reason for the merger was to attract an extensive user base. Also, with this, Saavn could strengthen the leadership in India and also get the connectivity and digital ecosystem of Jio. JioSaavn’s business model has been one of the most successful business models since the merger.

JioSaavn – Customer Value Proposition
JioSaavn – Key Partners
JioSaavn – Revenue Model
JioSaavn – Effect of Covis19
What New Features Are The Main Reasons For A Wider User Base?
An Endnote
Frequently Asked Questions

JioSaavn – Customer Value Proposition

Advantage Of JioSaavn

JioSaavn is a platform that has songs from 14 different languages. Also, people who come up with new podcasts and independent music can post their song on JioSaavn. This has helped them establish their talent and has hence been used a lot by them. Users can make a proper playlist and they can also choose from the curated charts and playlists that JioSaavn makes according to the needs of the user. Also, the search filter is a very interesting feature. Using this, one can filter the search with artist, songs, album, radio and so on. This has a lot of songs from various genres and languages.

The next facility that is available to the users of Jio is JioTunes. Using the JioSaavn app, users can very easily set caller tunes. There are a lot of choices available for this. If the song is not available, the user can request for the song to be added to the list of caller tunes.

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StartupTalkyShubham Kumar

JioSaavn – Key Partners

JioSaavn has partnered with many different various companies in different domains to achieve better revenue and reach. Here are a few of JioSaavn’s key partners.
- Amazon: JioSaavn was the first music service in India that came out on Alexa and other voice assistants that were linked to Amazon.
- Shazam: As a part of this partnership, Saavn’s music library was incorporated in Shazam. Shazam had a lot of customer engagement tools that gave a better music listening experience to the customers. This helped Saavn get a wider range of audience. With additional tools and better experience, customer rating also got better. This partnership helped them get better.
- Android and iOS apps: JioSaavn has made apps to run in almost all the platforms. It first came out on Android and then on iOS. Now, it can also be found on the Chrome Web store.
Other partners of JioSaavn are Sony Music, T-series, Eros, Warner Music and so on. Every key partner has added value to the revenue of JioSaavn and has helped them grow bigger. The partners also include Nokia, Samsung, Lays, general motors and so on.

The Competitors of JioSaavn

JioSaavn – Revenue Model

Revenue From Subscription

JioSaavn is not a fully free app. It allows users to subscribe and hence get ad-free music experience. This is called JioSaavn pro. If the user is new to the application, then they get 3 months free access to JioSaavn pro and then you get back to the normal platform. If the user wishes to extend the pro service, he or she has to pay and renew the subscription. JioSaavn gets some of the revenue from this subscription fees. Though this is entirely not their revenue source, this contributes a good per cent of the revenue.

Revenue From Advertisement

Apart from the revenue from the subscription, JioSaavn gets revenue by displaying ads relevant to the user. Advertisements from this digital platform generate higher revenues. A lot of different brands display ads on JioSaavn. This is only for the users who haven’t taken the subscription for JioSaavn Pro.

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Best Revenue Model for Startups | Business Model in 2020

Every startup builds a business model that is viable and promises huge returnsafter a specific time frame. But for a business to sustain itself in this highlycompetitive ecosystem, earning revenue along with some investments is important.So, here are some of the revenue model for startups i.e. a …

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JioSaavn – Effect of Covid19

Listeners usually listen to music in the morning. The only free time they get is during work travel. But with the spread of coronavirus, the first half listenership has gone flat. The reason for the reduction in the work from culture. Meanwhile, the listenership hasn’t gone down in the least.

The second half of the day has seen a huge increase in usage. This is mostly due to people doing their chores enjoying music. There is also a huge change in the type of music people listen to. Before the pandemic, people start their day with music. Thus they listen to energetic songs to get themselves ready for work.

Now, people have opted to listen to nostalgic and sweet melodies trying to relax their way to sleep. With lazy home working, people also changed the device to TV or speaker against smart phones.

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What New Features Are The Main Reasons For A Wider User Base?

The monthly growth rate preceding the pandemic was as high as 10 per cent. While post-pandemic, the growth rate got closer to 6 per cent. This did not mean a decrease in the usage of the app. The growth rate decreased due to the rapid increase in unpaid users.

The increase is due to the updated features that the app provides for its pro users. It provides combined music with added lifestyle rewards. Many other offers have also been launched in partnership with companies like SkullCandy, SarvaYoga, etc.

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An Endnote

With data on the type of music that users listen to, artists are encouraged to create original music. By understanding the users, new artists are discovered and their work is promoted. The same is done for music in a variety of languages to promote region-specific content. This increases the listenership of local artist originals while also increasing user base.

The marketing of the app has also seen various changes between the pre and post COVID pandemic. The pre-COVID marketing was a stream first approach which leveraged the huge database. While there might not be a complete changeover, there is a significant change since the pandemic began. Marketing has become more offer oriented and based on partnership promotions.

Frequently Asked Questions

How does JioSaavn make money?

jioSaavn makes money through advertisement and subscription model. If you are new to the app you will get three month free trial. Later you would have to pay being able to download songs and advertisement free experience.

Is JioSaavn only available to Jio users?

No, JioSaavn is available for all and it is free for all. You can listen to all your music, create playlists, set JioTunes, manage your music library, get music recommendations and much more. A Jio user can launch app on cellular data experience pro features free for 3 a months.

Does JioSaavn pay Artists?

Yes. JioSaavn, one of the most popular streaming service in India, pays just $0.00126 per stream. So, if the local instalments of Spotify, Apple Music and YouTube Music have to match the price of JioSaavn’s offer — well, you can expect that the regional per-stream payout will be comparable.
March 12, 2021

Startup Name	Coolwinks
Headquarter	Gurgaon, Haryana
Founder	Ganesh Iyer
Sector	E-commerce (Eye Wear)
Founded	2016
Website	www.coolwinks.com

SleepyCat wants to Bring out the Garfield in You

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 SleepyCat.

The history of sleeping solutions is as long as human history itself. Early-man used to sleep on the ground and gradually, in an attempt to make the sleeping experience more pleasurable, man started using feathers, straw, grass etc. With the development of human intelligence came the concepts of bed and mattress. In India, cotton mattress and later coir mattresses remained popular for a long time. Now with the advent of new technology, new mattresses with better features have become available in the market. We have a wide range of mattresses from spring mattress to foam mattress, memory foam mattress and even orthopedic mattress.

SleepyCat, a startup in Kolkata came up with India’s first out of the box mattress. The startup was founded by Kabir Siddiq in 2017.

Read more about SleepyCat’s Company Profile, Founders, Competitors, Funding, Idea, Business model, logo, Revenue etc. in this article!

The uniqueness about SleepyCat mattress is that these mattresses are compressed using automated compression technology. After compression, the mattress easily fits into a small box and thus becomes easily transportable. Sleepycat delivers mattresses right to your doorstep. SleepyCat’s mission is to make mattress shopping ridiculously easy. While the long term vision of the company is to become India’s number 1 sleep solutions brand.

SleepyCat Company Highlights

Startup Name	SleepyCat
Headquarter	Kolkata
Founder	Mr. Kabir Siddiq
Sector	E-commerce
Founded	2017
Revenue/Turnover	Rs 80 crore (FY19)
Funding	$1.6 Million
Parent organisation	SleepyCat

SleepyCat – Industry Details
SleepyCat – Founder
SleepyCat – The Idea and starting up
SleepyCat – Name and Logo
SleepyCat – Product
SleepyCat – Revenue Model
SleepyCat – Customer Acquisition
SleepyCat – Funding
SleepyCat – Challenges
SleepyCat – Competitors
SleepyCat – Achievements
SleepyCat – Future Plans
SleepyCat – FAQs

SleepyCat – Industry Details

The Indian mattress Market Outlook, 2021, reports that overall mattress market is growing with a CAGR of 8.20% from the last five years. The major factors responsible for this growth are increased income and increase in the number of household units and hotels.

According to India Mattress Market Overview, 2016-2022, the Market Size of Mattress Industry is estimated to be around USD 2 billion where 65% of the industry is unorganized and 35% is the organized sector. The market share of the unorganized sector in the Indian mattress industry is falling rapidly. Besides, the India online mattress market is expanding gradually and is expected to reach INR 290 crore market in FY’2020.

The online market is currently only around 4-5% of the entire sector but growing rapidly at a CAGR of around 20-30%. With increased income and a wide range of choices available, the demand for branded mattresses has increased, and many players have entered the organized mattress market.

SleepyCat – Founder

Kabir Siddiq is the founder and CEO of SleepyCat.

After graduating from Indiana University Bloomington, in 2010 he worked with leading organizations such as Deutsche Bank and Space International Pte Ltd. In 2017 he started SleepyCat.

SleepyCat, like any other startup, cultivates growth in each of its members. More than being employees, it implores each member to treat the company as its own. Hence, imparts an added sense of responsibility and dedication towards their roles.

SleepyCat – The Idea and Starting Up

“The Journey of SleepyCat began when I entered the old and unchanged mattress Industry. I realized a big gap existed in the market between manufacturing a mattress and eventually delivering it to a consumer” Says Kabir Siddiq, Founder & CEO of SleepyCat

Kabir observed that the long chain consisting of distribution, logistics, warehousing and retail, severely inflated the price of a mattress without reason. In addition, the quality and structure of a mattress being sold at a price like that was nowhere close to being comparable or justified. To top it all, mattress shopping was troublesome with so many unnecessary choices.

“I wanted to simplify this and make the process of mattress-shopping fun and easy while delivering a world-class product through just four simple clicks! ” Added Kabir Siddiq, SleepyCat founder

SleepyCat – Name and Logo

SleepyCat’s logo features a sleepy cat. With an amazing hidden notion.

“Cats like to sleep for 20 hours a day and the name ‘SleepyCat’ pays tribute to the Garfield in all of us that’s just wants to eat and sleep the whole day”

SleepyCat – Product

SleepyCat is India’s First Mattress-In-A-Box brand. The box mattress is manufactured using a special technology which makes it compact enough to be packed in a small box.

The main aim of the company is to simplify mattress shopping. It delivers a specialized gel memory foam based mattress that comes conveniently packed in a box straight from their factory to the customer’s doorstep free of any shipping costs. This way SleepyCat help the customers save 75% costs that would otherwise be spent on unnecessary faux material and middlemen cuts.

We have adopted a very disruptive model in the current industry and focus on the consumer. We make mattress shopping easy, convenient and affordable.

The company also offers benefits like 10 years of unbeatable warranty, 30 nights free trial and one day deliveries in cities like Mumbai and Bangalore.

SleepyCat also does its part of being socially aware. Thus, with the help of the SleepyCat Community, it gives back to society by donating mattresses to those in need.

SleepyCat – Revenue Model

The SleepyCat Revenue is quite simple. As SleepyCat delivers directly from their factory to the customers, it can sell the mattresses at a cheaper price. It keeps a fair margin on every product. In May 2018, the company reported a revenue of INR 3.5 Crore.

SleepyCat – Customer Acquisition

Starting off on Amazon LaunchPad was a very important step for SleepyCat. It gave SleepyCat the much-required opportunity to tap into an already set up marketplace.

Hence, getting the initial set of order was the most exciting time for us. The orders came in slow but steady in the initial months

Gradually, SleepyCat started growing its online presence by starting its own site. The company took the help of social media to attract its customers. It penetrated social media platforms like Facebook and Instagram. The company also put in effort to attract their target customers through content that was fun and readable. Besides video content was created with the help of influencers to aid the audience understand the brand further.

SleepyCat – Funding

The SleepyCat funding can be seen in the fact that it raised its Series A funding on September 2019 of $1.6 Million, It was led by DSG Consumer Partners and Sharrp Ventures. The round also saw participation from Gemba Capital and other angel investors. As part of the deal, Hariharan Premkumar (DSG Consumer Partners) and Chaitanya Deshpande (Sharrp Ventures) will join Sleepycat’s board of directors

The capital raised was invested towards building the online presence of Sleepycat through channel partnerships, new product launches and to build its management team.

SleepyCat – Challenges

Being the first of its kind in India, SleepyCat aimed at disrupting the traditional mattress industry. This was a challenge in itself as buyers were not aware of the concept of a ‘Bed-In-A-Box’ and the efficiencies around it.

As said by Kabir, Logistics also was always a challenge. Since the company uses third-party courier service, it always was on the firing end when they did not deliver on time.

SleepyCat is responsible for the customers’ product regardless if the courier is not under our control.

SleepyCat – Competitors

Many competitor brands are entering the market now. There are many companies like Sleepyheads, Comfort Mattress, Dorsal, Dan-Foam, A.H. Beard and Molaflex.

However, the company believes that the best way to deal with competition is to keep their customers at the forefront. Also, SleepyCat innovates on sleep products and always strive to provide something new and groundbreaking to the customers. It aims to build the trust required and create a positive presence in the market by maintaining transparency with customers at all stages.

When we are able to build greater bonds with our customers that go beyond the product itself, we know we’ve done it right.

SleepyCat – Achievements

Within a short period of time, SleepyCat has been able to achieve a lot. Some of the major achievements are –

Within a span of 1.3 years the company has sold over 10,000 mattresses
SleepyCat is the highest rated mattress on the internet across Amazon, Google and Facebook.
The company has been successfully selling around 500 mattresses monthly with an average price per unit being approximately Rs. 17500/-

SleepyCat – Future Plans

SleepyCat’s future plans include –

Evolving an improvised version of the current product in terms of fabric.
Launching mattress in the luxury segment
Growing as the total sleep solution company
Currently, 50% of SleepyCat’s products are manufactured in China. The company is planning to do 100% of manufacturing in India in the coming years.

SleepyCat – FAQs

What is SleepyCat?

SleepyCat has come up with India’s first out of the box mattress. These mattresses are compressed using automated compression technology

Is Memory Foam bad for your back?

Normally, Memory foam mattresses are recommended for back pain. The memory foam uses the body heat to soften and mould to the body shape, thus providing support and comfort.

How big is the Mattress Industry?

As per a research report published by the Zion Market Research, the Global Mattress industry is growing at a CAGR of 6.5% between 2018 and 2024. India’s overall mattress market has grown at a CAGR of 11% over last five years, with an estimated size of INR 10,000 crores in 2019.

Who is Kabir Siddiq?

Kabir Siddiq is the Founder and CEO of SleepyCat.

March 12, 2021

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15Five Continuous Performance Management Plans

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Blink Plans and Pricing

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Culture AMP Plans and Pricing

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What are employee engagement strategies?

What are engagement techniques?

What companies have the highest employee satisfaction?

Why Tata terminated 800 people

NITES’s involvement in the Scenario

What Tata has to say

FAQ

Do employers have to pay for layoffs?

Can you be rehired after being laid off?

Who qualifies for furlough?

Conclusion

About Coolwinks

Founder of Coolwinks and How it started

Coolwinks – Name, and Logo

Coolwinks – Business Model and How it works

Quality is a priority

Affordable products

Trendy and Youthful products

Wide range of variety

Coolwinks – Competitors

Coolwinks – Product Range

Coolwinks – Marketing Strategies

FAQ

Who owns Coolwinks?

Who is the founder of Coolwinks?

Which companies does Essilor own?

Conclusion

Indian Startup Funding

Indian’s Unicorn And Soonicorns

Infrastructure And Resources That Help The Startups Growth in India

Government And Regulatory Landscape

The Main Hubs of Indian Startups

The Indian Investor Landscape

Fintech Boom

The Growth of Innovation in India

Conclusion

FAQs

What does startup ecosystem mean?

What is entrepreneurial ecosystem?

What makes a good ecosystem?

What are semiconductors

Scarcity of Semiconductors around the Globe

Reasons for the scarcity of semiconductors

Higher demand for semiconductors

Effects on the Indian market

What happens next

FAQ

Why is there a shortage of computer chips?

Where are most semiconductors manufactured?

Why are semiconductors so important?