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Tag: Challenges

  • Adani Group Case Study: Navigating Ongoing Challenges in Its Growth Journey

    The Adani group is an Indian multinational conglomerate with a revenue of about $37 billion from FY2024. The company is headquartered in Ahmedabad, Gujarat, India. Adani is a leading global integrated infrastructure player that includes diverse businesses like coal trading, coal mining, ports, power generation, multi-model logistics, renewables, gas distribution, and transmission. The Adani has always been known for its growth and vision for building the nation.

    It is the largest port developer and operator in India with Mundra being the country’s largest commercial port. Having multiple ports, branches, manufacturing units, and corporate offices at various locations, Adani Group is one of the largest business units. In all this business group has around 36,000 plus employees with more than 900 third-party contractors involved in incorporating various work orders across 25 plus business units.

    In April 2014, it added the fourth unit of 660 megawatts at its Tiroda Thermal Power Station, making Adani Power India’s largest power producer. In 2015, Adani was ranked India’s most trusted infrastructure brand by The Brand Trust Report 2015. The group operates mines in India, Australia, and Indonesia and supplies coal to Bangladesh, China, and other countries in Southeast Asia. In January 2018, Adani Ports and SEZ Limited added equipment and machinery to become the largest dredger fleet in India.

    Companies Listed Under the Adani’s Group

    The Challenges Faced by Adani Group
    Solutions Applied by Adani Group
    Effects on Adani Group’s Business after Implementing Solutions

    Companies Listed Under the Adani’s Group

    List of Adani Group Stocks
    List of Adani Group Stocks

    Adani Enterprise Limited

    Adani Enterprise Limited Logo
    Adani Enterprise Limited Logo

    Adani Enterprises Limited is run by Gautam Adani, the enterprise handles the mining, trading, gas distribution, solar, and agribusiness divisions of the Group. This company also owns a subsidiary called Adani Gas which is a wholly owned subsidiary that executes the gas distribution business. Its real estate activities are managed by Adani Infrastructure and Developers Private Limited. The current incubation portfolio includes Mining Services, Integrated Coal Management, Road, Rail, Airports, Data centers, and Defense.

    Adani Ports and SEZ Limited

    Adani Ports Logo
    Adani Ports and Logistics Logo

    Adani Ports and Special Economic Zone Limited (APSEZ) is the largest private port company and special economic zone in India. The Company is headed by Karan Adani, CEO of APSEZ. The operations of the company are Logistics and Port management and operates ports Dahej, Mundra, Hazira, Dhamra, Kattupalli, and Vizhinjam.

    Along with that, the Adani Group manages terminals at the ports of Mormugao, Ennore, Vishakhapatnam, and Kandla. The logistics were initially promoted by the Mundra Port Infrastructure Development Company Limited, as an enterprise of the Government of Gujarat and Adani Port Limited.

    Adani Power Limited

    Adani Power - Adani group of companies list
    Adani Power – Adani Group of Companies List

    The company is run by Gautam Adani, Rajesh S. Adani. The company develops and maintains power projects in India. The firm has a combined installed capacity for developing and maintaining power projects across India. The company runs the following subsidiaries of 10440 MN with four thermal power projects across India.

    The following subsidiaries are Adani Power Maharashtra Limited and Adani Power Limited. In 2014 Adani Power Ltd’s thermal power plant at Mundra in Gujarat is the world’s first coal-fired plant to receive carbon credit from the United Nations Framework Convention on climate change.

    Revenue of Adani Power Limited from FY 2016 to FY 2024
    Revenue of Adani Power Limited from FY 2016 to FY 2024

    Adani Transmission Limited

    Adani Case Study
    Adani Transmission

    Integrated in 2013, Adani Transmission Limited handles the commissioning, operations, and maintenance of the electric power transmission system. The holding company holds operations and maintains 8511 circuit kilometers of transmission lines that range from 400 to 765 kilovolts.

    The company has the following subsidiaries; Maharashtra Eastern Grid Power Transmission Company Limited, Maru Transmission Services Service Company Limited, Hadoti Power Transmission Limited Service Limited, Raipur Rajnandgaon Warora Transmission Limited, Sipat Transmission Limited, and Chhattisgarh WR Transmission Limited.

    Adani Green Energy Limited

    The process of creating the world’s largest single-location solar power plant

    Largest listed pure-play renewable power producer in India with a portfolio of solar and wind assets of 2545 MW operational capacity. It is the largest listed renewable company in India and aims to scale up its infrastructure to produce 18 GW by 2025 and 25 GW by 2030.

    Adani Gas Limited

    It is India’s largest city gas distribution company mainly serving Industrial and Residential customers in Gujarat.

    Adani Wilmar Limited

    Adani Wilmar Case Study
    Adani Wilmar

    Adani Wilmar Limited (AWL) is an Indian food and beverage company based in Ahmedabad. It started in 1999 as a joint venture between Adani Enterprises and Wilmar International. AWL is the largest palm oil processor in India. As of September 2024, it has 23 plants in 10 states across India and exports its products to the Middle East, Africa, and Southeast Asia.

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    The Challenges Faced by Adani Group

    The Adani Group has multiple business units and ports at various locations. Managing employees’ attendance and timing from a central place is critical for them. Due to diversified businesses, they have different time attendance policies at different locations. It is very challenging to capture the time-attendance rules of an organization. This is because of the diversity in timing, attendance, and leave policies concerning various locations, departments, and people.

    Along with automated time attendance solutions, they want to control access at their premises for safety and security concerns. For certain exceptional situations, they need immediate notifications via SMS. As remote sites are there, they want different connectivity options for devices. The integration of SAP is required which is one of the challenges. By introducing an automatic system, the company wants to make manual interventions to reduce errors and fraud.

    • Gautam Adani was charged in New York for his involvement in an alleged bribery and fraud scheme worth billions of dollars, according to US prosecutors on November 20, 2024, and because of this Adani Group faced a loss of $55 billion.
    • In 2023, Adani’s businesses lost $150 billion in market value after a report by short-seller Hindenburg Research accused the group of major corporate fraud. The report claimed that Adani Group had been involved in stock manipulation and accounting fraud for many years.
    • Managing numerous workers’ attendance.
    • Eliminate fraudulent and inaccurate payment of wages at contractors’ end.
    • Monitoring each work order status determining its progress and segregating them.
    • Verifying the number of workers allotted to each task under a contractor against the respective contractors’ report.
    • Capturing accurate and diverse time attendance data of all workers.
    • Generating customized reports to make swift decisions and timely and error-free payroll processing.
    • Allotting workers to each work order based on the requirements and skills of the workers.
    • Ensuring approved and proper induction of each worker at a defined level.

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    Solutions Applied by Adani Group

    Adani group applied several solutions to fight the challenges they faced. Some of the best solutions they implemented are:

    • Tracking work orders progress.
    • Contractors’ self-service portal for managing workers.
    • Contract Workers Management solution for 50,000 plus workers under 900 plus contractors.
    • Worker Enrolment with photograph, credentials, and documents.
    • Connectivity using Wi-Fi and mobile Broadband.
    • Centralized data management solution for branches across multiple locations.
    • Real-time notification in cases of exceptional situations.

    Effects on Adani Group’s Business after Implementing Solutions

    The solutions implemented by the Adani Group proved successful for the business. Adani Group witnessed growth and productivity in business.

    • Increase in productivity of admin by 20%.
    • Smooth and effective monitoring of work orders.
    • Minimize manual interventions.
    • Enhanced security with an effective worker enrolment process.
    • Smooth and easy security with centralized control and monitoring reduced time spent by the Security Department.
    • Easy decision-making due to customized reports and charts generated.
    • Quick and effective wage calculation.

    FAQs

    Who is the founder of Adani Group?

    Gautam Adani is the founder and Chairman of Adani Group.

    When was Adani Group founded?

    Adani Group was founded in 1988.

    What is the revenue of Adani Group?

    The Adani Group has around $37 billion in revenue from FY2024.

    What are the companies under Adani Group?

    Adani Group of companies list includes:

    • Adani Enterprise Limited
    • Adani Ports and Special Economic Zone Limited
    • Adani Power Limited
    • Adani Transmission Limited
    • Adani Green Energy Limited
    • Adani Wilmar
    • Adani Gas Limited

    What is the net worth of Gautam Adani?

    Gautam Adani has a net worth of $69.8 billion as of 2024.

  • Indian Civil Aviation Industry – Who Leads the Market?

    The aviation industry in India is the fastest-growing sector in the world as per the International Air Transport Association (IATA). The manufacturing hub of Indian aviation is located in Bangalore and the UDAN scheme of the government drives the growing civil aviation and aviation infrastructure in the country.

    Indian civil aviation industry is broadly classified into scheduled air transport which includes domestic and international airlines, non-scheduled air transport which includes charter operators and air taxi operators and air cargo transport which includes air transportation of cargo and mail. As was the case with all commercial activity, the Indian civil aviation industry was severely affected due to the covid-19 pandemic. However, not only has the industry recovered but witnessed a robust growth of 104.24% in one year. This is evident from the figures of the air traffic movement which stood at 613,566 in the first quarter of FY 2022-2023 as opposed to 300,405 in the first quarter of FY 2021-2022.

    Currently ranked at number 7 in the global civil aviation market, Indian civil aviation is expected to become the third largest within the next ten years. It is already the third-largest domestic aviation market in the world and is expected to become the third-largest air passenger market by 2024, overtaking the United Kingdom.

    History
    Growth of Civil Aviation Industry & Its Challenges
    Current Leaders In The Civil Aviation Market
    Conclusion

    History

    The civil aviation industry of India can be traced back to 17th February 1911 when the first commercial flight took to the skies from Allahabad to Naini – a short distance of only 6 miles covered in approximately 15 minutes. This was the world’s first official airmail service as the Humber biplane carried 6500 pieces of mail piloted by Henri Pequet. The first commercial airline was Handley Page Indo-Burmese Transport flown on 15th October 1932 by J.R.D. Tata from Karachi to Juhu Airport. This airline later became Air India.

    By 1953, there were eight domestic airlines that were operating independently within the country. They were Deccan Airways, Airways India, Bharat Airways, Himalayan Aviation, Kalinga Airlines, Indian National Airways, Air India, and Air Services of India. In March of that year, the Indian Parliament passed the Air Corporations Act resulting in the nationalization of the merger of all eight airlines into two government-owned entities – Indian Airlines focusing on domestic routes, and Air India International focusing on international services.

    History of Aviation in India

    In 1972, The International Airports Authority of India (IAAI) was established followed by the National Airports Authority in 1986 and The Bureau of Civil Aviation in 1987. The Indian government de-regularized the civil aviation sector in 1991 leading to the introduction of the first national-level private airline – East-West Airlines, followed by Jet Airways which began operations in April 1992. By 1994 the Air Corporation Act was repealed allowing private airlines to operate scheduled services. This led several players like Air Sahara, Modiluft, Damania Airways, and NEPC Airlines to commence operations within the Indian skies.

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    Growth of Civil Aviation Industry & Its Challenges

    Between 2004 and 2005 many low-cost airline carriers entered the Indian market. Prominent operators among them were Air Deccan, Indigo, Air Sahara, Kingfisher Airlines, SpiceJet, GoAir, and Paramount Airways. However, soon the industry was riddled with problems as it struggled with rising fuel and operations costs and economic slowdown. There was a flurry of mergers, acquisitions, and discontinuation of services within the market players. Paramount Airways closed operations in 2010 while Air Sahara was bought by Jet Airways and Air Deccan was acquired by Kingfisher Airlines in 2007. Kingfisher Airlines closed operations in 2012. A joint venture between Air Asia and Tata Sons led to the launch of AirAsia India in 2014 – another low-cost carrier. Another carrier, Vistara was also launched due to a joint venture between Tata Sons and Singapore Airlines. By 2013 and 2014 only two low-cost carriers, GoAir and Indigo were generating profits through their operations.

    Current Leaders In The Civil Aviation Market

    With the number of airline operators within the Indian civil aviation sector, Indigo and Jet Airways was operating neck to neck in the year 2018. However, the latter was riddled with financial difficulties that led to operations being suspended by April 2019. This left the field open for Indigo with little or no competition from other players. By the year 2022, Indigo was dominating the Indian airline space with a market share of almost 55%.

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    What has resulted in Indigo’s market domination is its no-frills approach and low-cost domestic flying. During the fiscal year 2022, Indigo carried more than 46.6 million passengers according to the Directorate-General of Civil Aviation. The airline has registered the least number of customer complaints and has ranked at number 4 among the country’s most punctual airlines registering almost 84% of on-time arrivals. Indigo rates high on domestic popularity which is indicative of soaring growth in the future.

    Conclusion

    The Indian Civil Aviation Industry has received strong backing from the government and is increasingly emerging as a fast-growing sector. The sector has established itself as a credible alternative to road or rail journeys. The growth trajectory of the industry currently indicates that by the year 2034, it may well become one of the largest aviation markets in the world.

    FAQs

    Who are the major players in the Indian Civil Aviation Industry?

    The major players in the Indian Civil Aviation Industry include:

    1. IndiGo
    2. SpiceJet
    3. Air India
    4. Vistara
    5. GoAir
    6. AirAsia India
    7. Air India Express

    What is the contribution of the Indian Civil Aviation Industry to the country’s GDP?

    According to a report by the Ministry of Civil Aviation, the Indian Civil Aviation Industry contributed about 0.5% to the country’s GDP in the financial year 2019-20. The industry provides direct and indirect employment to millions of people and has a significant impact on the economy.

    What are the key challenges faced by the Indian Civil Aviation Industry?

    The Indian Civil Aviation Industry faces several challenges, some of the key ones are:

    1. High operating costs: The industry is faced with high operating costs, which include fuel prices, airport charges, and taxes.
    2. Infrastructure constraints
    3. Competition: The industry is highly competitive, with several players vying for market share. This has resulted in price wars and cost-cutting measures that impact the quality of services offered.

  • Prayag Hospitals Success Story – How they Provide Exceptional Care Without Exceptions?

    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 Prayag Hospitals Group.

    The healthcare industry in India is a complex and diverse sector that plays a vital role in the country’s economy and society. India has a large and growing population, and the demand for healthcare services is high. The healthcare industry in India consists of both public and private sector organizations, with the public sector providing a significant portion of healthcare services. The Indian government has made efforts to improve the healthcare system and increase access to healthcare for all citizens, including initiatives such as the National Health Policy and the National Rural Health Mission.

    There are total almost 30,000 hospitals in India. Thats 1 hospital for almost 47,000 people. Hence, the need for better hospital facilities and management is the biggest concern of Indians. One hospital that takes care of its patients in the best way possible is Prayag Hospitals Group.

    Prayag Hospitals Group is providing exceptional healthcare without exceptions and the CEO Pritika Singh has been a game-changer in healthcare.

    StartupTalky interviewed the CEO of Prayag Hospitals Group, Pritika Singh to know more about their vision, mission, Inspiration, business strategies and more.

    Prayag Hospitals Group – Company Highlights
    Prayag Hospitals Group – Vision and Mission
    Prayag Hospitals Group – Inspiration
    Prayag Hospitals Group – Key strategies for successful business
    Prayag Hospitals Group – Social work
    Prayag Hospitals Group – Challenges
    Prayag Hospitals Group – Operating locations
    India’s healthcare industry in the next 5-10 years
    Advice to the new industry leaders/entrepreneur

    Prayag Hospitals Group – Company Highlights

    CEO Pritika Singh
    Founded in 1999
    Industry Healthcare
    Website www.prayaghospital.in

    Prayag Hospitals Group | Homepage
    Prayag Hospitals Group | Homepage

    Prayag Hospitals Group – Vision and Mission

    Prayag Hospitals Group is focused on creating a chain of hospitals providing all treatments at the most affordable price for middle-class customers. Their short-term goal is to provide more jobs, which is also a part of their long-term goal.

    My long-term goal will be to create a chain or group of hospitals
    where poor and middle-class customers can walk in without any fear or burden of payment. We want to create such a noble image in the market, through a chain of hospitals where finance is not a concern when you are entering the hospital for any treatment. – Pritika Singh

    Prayag Hospitals Group – Inspiration

    Pritika was inspired from her parents. Her father is a renowned ENT and orthopedic surgeon, and her mother has always looked after the management and administration parts, so she got inspiration from them.

    When she was a child and her father used to do his OPD, Pritika used to look with curiosity at what he was doing. Her father used to sit with each patient for about half or one hour and explain to them every detail of the treatment or the disease. While she was growing up, she felt that the hospital and healthcare industry need to have such a system where one can give a lot of awareness to the customer which is lacking in the industry.

    I know a lot of people surf the internet nowadays before entering a
    hospital. By the time they see a doctor, they know a few terms, but they need proper guidance which only a specialist can give. – Pritika Singh

    The other side of the coin is people from underprivileged or poor socio-economic backgrounds, who are eligible for free health treatment but don’t know about the privileges or benefits they have got from the government. There are very few organizations that are spreading such awareness and theirs is one of them.

    Pritika’s parents are the first people with whom she shared her vision.

    Prayag Hospitals Group – Key strategies for successful business

    After joining the business, Pritika transformed the logo, tagline, and all other things that needed a rework because she wanted the brand to connect with her vision. The only strategy that they follow and are following till now is creating a one-to-one customer experience, giving a personal touch, and taking care that their service delivery or care includes Indian tradition and culture in doing business.

    To have a successful business, you also need to have a good working environment in your organization, and I make sure we specifically take care of the mental health of our employees. We try to create a personal repo with the employees so that they work in a comfortable and encouraging environment and perform better – Pritika Singh

    Prayag Hospitals Group – Social work

    At Prayag Hospitals Group, they have a special ward where they treat patients who are not very critical. They don’t charge doctor fees, nursing fees, or bed fees; only food and medicine costs are there. So, it becomes very affordable for somebody who comes from a poor socio-economic background and doesn’t have any benefit or support from the Government, or any medical insurance.

    Prayag Hospitals Group – Challenges

    At the beginning of her journey, she faced a challenge within the organization as the employees or staff were already working as per the vision of her parents, and then she entered with a different vision. A lot of people were not comfortable and had little belief in her. They thought that her vision is not complete or feasible or that what she is talking about is not practical. However, when you have belief in yourself, you can make others believe in you too.

    Another biggest challenge that I faced was in the form of typical stereotypical thinking that if your parents are doctors running a hospital, you also need to be a doctor to run the business. So, my parents took some time to gain that level of trust in me as I was from a management background. Despite a lot of rejection of my vision and ideas, in the beginning, I was able to build that trust with my employees as well as my parents. Another challenge that you face being a newcomer in the industry, and being ayoung woman is that people in the industry look at you with doubt. They havetheir own assumptions, but if you are confident about your capabilities, you canovercome every obstacle, and stereotypes and bust myths. – Pritika Singh

    Prayag Hospitals Group – Operating locations

    The hospital’s operating location is in Noida and Greater Noida, and they are also planning to come up with a hospital in West UP and Uttarakhand. They are also planning to expand their operations in Middle Eastern countries for their specialized branch – the department of holistic healing — where they talk about mental health. They work on mental health because India is a hub for the same.

    India’s healthcare industry in the next 5-10 years

    Pritika believes that the healthcare system is already in place, and it has seen a dynamic transformation in the COVID-19 pandemic recently. Digitization in healthcare has taken hospitals, even in tier 2 or 3 cities, to another level. However, there is a need to create more beds and encourage youths to enroll themselves in studying or choosing a career in the healthcare industry. The reason is that when thinking of increasing the beds, there is also a need for manpower to attend to more patients in the form of paramedical staff, support staff, doctors, and nurses. In addition, she thinks more hospitals should be introduced in smaller towns and cities so that people from these underserved areas can also get quality treatment.

    The healthcare sector is set for robust growth in the next 5-10 years, with the industry expected to reach a size of $50 billion in the country by 2025.

    The Government is working on all strategies to revolutionize the sector in the next few years by focusing more on innovation, technology, and R&D. She thinks this will help all those involved in the hospital industry by being able to offer more advanced forms of treatment and medication at an affordable cost. At the same time, the technological disruption in the industry cannot be ignored, considering the dramatic rise of telemedicine during the pandemic and the introduction of new-age technologies like AI and virtual/augmented reality.

    Advice to the new Industry Leaders

    The advice that I would like to give to newcomers is that healthcare
    is a noble industry where you can earn money and give back to society. Do not consider this industry only for making profits as we are engaged here 24X7 with the customers’ emotions along with the emotions of the staff, doctors, and all those who are involved in the business. We must have that noble vision when we are entering this industry. In the end, I would like to say that for an entrepreneur, your energy also counts. You have to match a high-vibration frequency environment, so you have to have that dynamic character with very high energy in order to sustain the business. If you can leave your comfort zone and are ready to work in a dynamic, fast-paced environment, then you can consider this field as an entrepreneur. – Pritika Singh

    Conclusion

    For an entrepreneur, energy also counts. You have to match a high-vibration frequency environment, so you have to have that dynamic character with very high energy in order to sustain the business. If you can leave your comfort zone and are ready to work in a dynamic, fast-paced environment, then you can consider any field as an entrepreneur.

    FAQs

    Who is the CEO of Prayag Hospitals Group?

    Pritika Singh is the CEO of Prayag Hospitals Group and she has been a game-changer in healthcare.

    When was Prayag Hospitals Group founded?

    Prayag Hospitals Group was incorporated on June 20, 1996.

    Where is Prayag Hospital located?

    Prayag Hospital is located in Sector 41, Noida, Uttar Pradesh 201301, India.

  • Top 10 Major Challenges Faced by SaaS Startups

    The advancement of technology has made handling business activities much easier than ever. Using advanced computer software, one can perform all kinds of operations and provide customers with the best possible experience.

    SaaS startups are the companies that offer computer software as a service to other companies in the industry. These companies offer their clients web-based tools or applications that they may use to manage their company more automatically or to improve the efficiency of their own systems.

    These companies are known to offer solutions that allow other companies to take advantage of the latest technology and software without worrying about installation or new updates. There are numerous SaaS businesses providing various kinds of software services.

    In this article, you will get insights into the major challenges faced by SaaS startups and how to respond to these challenges and make your business run smoothly.

    Major Challenges Faced by SaaS Startups

    What is SaaS (Software as a Service)?

    Major Challenges Faced by SaaS Startups

    The growing need for software for the smooth functioning of business activities has provided a great opportunity for aspiring entrepreneurs towards this business idea. But before starting a company, you must be aware of the challenges and hardships faced by SaaS startups. The following are the major challenges faced by SaaS startups:

    Biggest Challenges Managing Software as a Service Applications Worldwide 2021
    Biggest Challenges Managing Software as a Service Applications Worldwide 2021

    Lack of Knowledge and Experience

    As an entrepreneur, it is essential to gather substantial knowledge and expertise before starting any business. This will allow you to tackle any challenge or hardship that you will come across in the beginning phase of your business.

    If you are thinking of starting a SaaS startup then ensure that you have proper business knowledge and experience in that field. Many software service companies have shut down due to a lack of knowledge and expertise in handling problems.

    Do your research properly and learn everything about the business model and how SaaS companies work. The best way is to work for companies that provide software as a service until you gain enough experience and knowledge.

    Not Understanding Market Penetration

    Many young entrepreneurs don’t have enough understanding of market penetration. This can be a major challenge for startups as they must find a means to reach more customers with their services. Selling software can be more challenging as they become outdated when technology advances.

    Competing with the top companies who have an established brand and reputation in the market will be extremely difficult and will bring a lot of challenges. You must have the skills and offer better service to influence clients into using your software services.

    Your products must be innovative and updated, and your services must address the problems faced by the clients. This will improve your brand reputation and make it easier to reach more customers. With the right marketing and promotional strategies, you can easily grow your business.

    Lack of Network Access

    Many startups face difficulty establishing a network in the market. It is extremely crucial for entrepreneurs to build connections with new clients and network access in the industry. This will take time but eventually, you will build a brand image once you have a large network of clients.

    Lack of network access can impact your overall sales and growth of the business. Almost every company is running their business activities using the software. It will not be difficult to influence clients into using your product. You must go prepared with solutions that can solve their existing problems and make business operations easier for them.

    Lack of Funding or External Capital

    Lack of funding is a common challenge for several SaaS startups. An entrepreneur must always look for ways to get funds and external capital for the growth and expansion of their business. Lack of funds and capital can lead to the shutdown of your SaaS startup. You must always look for investors who are willing to invest by purchasing shares in your company

    SaaS startups require money to develop software and hire developers who can provide required services. They also need funds to expand and scale their operations, and initial investment to get started. A business can’t grow or hire employees if it doesn’t have sufficient money or credit to do so.

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    Technical Challenges

    Technical challenges are the major challenges that most SaaS startups have to face especially when there is not enough technical expertise. SaaS startups must create software or applications keeping in mind the problems faced by their target audience.

    An entrepreneur must ensure that his product can provide solutions to the problems prevailing in the market. This will help them to target more audiences, grow fast and build a brand name in the market. A SaaS startup must be prepared with software that features all the needs and capabilities of the clients. Also, it must provide complete security and be dependable enough to prevent any issues in the future.

    Impact of Covid-19 on Software as a Service Spending Worldwide in 2020
    Impact of Covid-19 on Software as a Service Spending Worldwide in 2020

    A Wrong Business Model

    Choosing an appropriate business model is essential for every SaaS startup to succeed. Often young entrepreneurs make this common mistake of selecting a business model that might not be feasible for their business.

    Running a SaaS startup can be difficult as you are dealing with a product which is subject to change anytime, and you must keep up with the pace and come up with solutions that can address all problems of your customers and help them to run the business efficiently.

    An appropriate business model suitable for a SaaS startup allows to identify the client base and help address all their problems with a single solution. It will help a startup to create, deliver and capture the value and form innovative strategies to tackle different problems.

    Weak Management Team

    A weak management team can be a major problem for SaaS startups. The management team is the backbone of any business, if they are not able to handle the daily operations of the business then it’s not possible for any company to succeed. So, in a SaaS startup, it is important to ensure that the management team consists of people with the knowledge and expertise to handle the daily affairs of the business.

    Selling software as a service is not an easy task. An efficient management team can provide the right direction to the business by forming innovative strategies for the growth and success of the startup. This will prevent poor management practices and operational inefficiency within the company and avoid bad decision-making and poor execution of strategies.

    Lack of the Latest Technology

    It is extremely important for SaaS startups to adopt the latest technology in their business so they can compete with their competitors who are well established in the market. Adopting the latest technology is often a major challenge for SaaS startups if they are unable to provide timely updates.

    Selling software as a service is entirely based on technology. They must make use of the latest technology to make their product better so that can address more problems of their clients. Using technology to ensure that your product provides better features and services is a part of the investment process that will reap high returns and will also help to compete with other competitors.

    Selecting Inappropriate Marketing Strategies

    Selecting the appropriate marketing strategies is extremely important for all SaaS startups. Marketing and sales strategies can be different based on several factors. Many entrepreneurs fail to execute appropriate marketing strategies which can lead to the failure of their business.

    For SaaS companies, marketing and sales strategies must focus on their products and services. Highlighting the features of their software will help them to attract more clients and customers. Even if the startup has the best product to sell, it is more important to execute appropriate marketing strategies, so people are aware of the product.

    If a SaaS startup is unable to work out effective marketing strategies then it should think of hiring a marketing agency in order to become successful in the industry.

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    Selecting the Wrong Price

    Product pricing can be tricky. A SaaS startup might want to consider a lot of factors before selecting the appropriate price. Many businesses often fail to make their way in the market as they fail to set the right price for their products and services.

    For startups, it’s essential to set the price low enough to cover all the costs and keep a low-profit margin. Companies that are offering software as a service must keep their pricing flexible based on the needs and demands of their clients.

    It’s important for SaaS startups to have an experienced research team who will do the necessary market research and help determine a budget that one can spend on developing software. Based on this one can select a price of the SaaS product that covers all the fixed and variable expenses and also gives the startup better positioning in the market.

    Conclusion

    SaaS startups face a number of challenges. These range from the technical and business aspects of launching a new company to maintaining a steady stream of customers, as well as overcoming obstacles that come up during the process of building your product or service.

    This article illustrates some major challenges faced by SaaS startups which can lead to failure or shut down of their business. If you are looking forward to starting a SaaS startup then ensure that you are already prepared to face these challenges and have solutions to overcome these obstacles.

    FAQs

    What are SaaS startups?

    SaaS stands for Software as a Service. It is a model in which a company (cloud provider) sells software to users over the internet on the basis of a subscription.

    Which is the best SaaS platform?

    The best SaaS platforms are:

    • Google
    • Microsoft
    • Salesforce
    • Zoom
    • SAP

    What are the top challenges facing the SaaS industry?

    Top challenges facing the SaaS industry include:

    • Lack of Knowledge and Experience
    • Lack of latest technology
    • Lack of funding
    • Lack of network access
    • Weak management team

  • How are the chances of Women Leading Industries like Healthcare, Science, and Technology?

    This article is contributed by Ms. Pritika Singh, CEO, Prayag Hospital & Research Pvt. Ltd.

    Despite the sword of Covid-19 hanging above our head and living with our ‘new Normal’, 2021 saw some revolutionary change in the startup industry all over the world. Almost every industry experienced a boom in a number of successful startups throughout the year. In this run, India is not far away. In fact, the year 2021 turned out to be a substantial one for Indian start-ups and entrepreneurs. India saw a monumental rise of 46 businesses that achieved unicorn status. Out of the total, 95 unicorns so far in India, 44 achieved that status in 2021 only.

    Women Entrepreneurs in India

    This news deserves a massive celebration, and the fact that India now has 13 female unicorn founders, 8 of which joined the list in 2021, makes the deal even sweeter. The path paved and led by the likes of business stalwarts like Kiran Mazumdar Shaw (Chairperson of Biocon), Indra Nooyi (former Chairperson and Chief Executive Officer of PepsiCo.), and Falguni Nayyar (founder and CEO of Nykaa) is attracting more women business leaders to lead from the front and it is just the start.

    Representation from names like Gazal Kalra (Founder of Rivigo), Ruchi Kalra (Founder of OfBusiness), Saritha Katikaneni (Founder of Zenoti), Ruchi Deepak (Founder of ACKO Insurance), Rashmi Verma (Founder of MapmyIndia), Garima Sawhney (Founder of Pristyn Care), Kavitha Subramaniam (Founder of Upstox), and Upasana Taku (Founder of MobiKwik), has proved that women entrepreneurs are here to stay. Not only that, but they are also shattering glass ceilings and carving a niche for themselves in industries like healthcare, science, and technology, the industries that are mostly populated and usually associated with men. These are still only the names of some female unicorn founders; thousands of stories are still untold of the women who are redefining businesses in these segments in their own way.

    Struggles that Women Entrepreneurs Faces

    The breakthrough of these women entrepreneurs is the much-needed silver lining, but this transformation is far from its completion yet. There is still a long way to go. And now that we are celebrating this breakthrough of sorts, it makes sense to underline the hardships and struggles that woman entrepreneurs face at large.

    Societal Challenges

    The societal design has kept women from stepping out of their homes and taking professional responsibility for the longest time. Despite all being said and done, when a woman eventually steps out of her home to work, her journey is quite distinguished from their male counterparts. Literary legends like Maya Angelou have also raised such issues of motherhood, marriage, and the challenges of being a working woman in society. Men have the liberty of switching off from their work after and before office hours, but sadly, women are devoid of that option. When a lady chooses to work at a job or a business, they meet an exclusive set of challenges. These include taking care of the home as well as their professional responsibilities. Such systematic design ends up burdening women even more instead of liberating them. There is always this added onus of striking a work-life balance and navigating home and office responsibilities onto these women. Despite all challenges, if we are witnessing so many women entrepreneurs and leaders on the rise, it proves that they excel at tackling them.

    Less of Capital

    When it comes to women founders, discrimination still exists in the form of the financial aid that they receive. Though women have proved themselves time and again to be as capable as their male counterparts in all respects in terms of businesses, the investors still find it difficult to believe they can lead an organization and this disbelief often leads to diminishing funds.

    Reduced Support and Mentorship

    Support from advisors and mentors always proves to be effective when it comes to business. However, as far as the women founders are concerned, they were still underprivileged in terms of the support they receives from advisors. According to the last survey, over 48% of the female entrepreneurs stated that the lack of support was prominent during their career and this lack of advisors restrained their growth massively.

    Lack of Networking Opportunities

    Women are always underestimated in every section of society even in this very millennia that we are living. This is why they seem to be forever lacking in networking opportunities and are always kept aside from their male counterparts. A proper network in the field of business or rather the lack of it can certainly set two persons wide apart.    

    Pressure from All Sides

    Time and again, the debate surfaces that a woman has to work twice as much as their male peers to attain even remotely comparable recognition, remuneration, and other perks. They must prove them constantly, which pushes them to work harder. As a result, they have no other option but to give their best every single day. Women also excel at taking criticism and feedback. They are also better at multi-tasking, listening, and observing. Such qualities combine to make these women excel at their work in several aspects.

    Women Leaders in Different Sectors

    It is the result of these qualities, perseverance, and passion that has established these ladies as leaders. Today, women are breaking the barriers of traditional moulds and making their names in medicine, technology, healthcare, and science. The women are now redefining the rules of the game. Better yet, they are even deciding the new rules by themselves.

    The camaraderie amongst the female workforce and a commitment to supporting each other is what’s helping them emerge out as the real champions. A doctor, lawyer, scientist, teacher, entrepreneur, or any role, the ladies are here to stay and lead the game from the front. We should not be surprised if 2022 presents 30 female unicorn founders instead of the current 13, especially since we have witnessed the event once.

    Conclusion

    It doesn’t matter what type of industry it is going to be, women leaders are going to conquer them all and they have already started to spread their wings in almost all of them. It’s just the beginning of something great and we will witness the rise of some of the greatest women entrepreneurs in the coming years. Here, one thing is for sure that the women, as they are and always have been on the receiving end of the brunt, will be coming out as more seasoned and indomitable players in the long run.  

    FAQ

    Who is the Most Successful Woman Entrepreneur in India?

    Vandana Luthra, the founder of VLCC is said to be one of the most successful woman entrepreneurs in India.

    Who is the First Woman Entrepreneur in India?

    Kalpana Saroj is said to be the first woman entrepreneur in India. She is the Chairperson of Kamani Tubes.

    Who is the Youngest Female Entrepreneur in India?

    Aditi Gupta, the founder of Menstrupedia is one of the youngest female entrepreneurs in India.

    How many unicorns in India have Women Entrepreneurs?

    Currently, around 13 unicorns in India have women entrepreneurs leading them.

    Which Indian startup achieved its unicorn status in 2021 and is led by a woman?

    OfBusiness is a startup that joined the unicorn club in 2021 and is led by a woman.  

  • Meat Industry In India: Current State, Challenges, And Growth Opportunities

    The meat production industry is a vital part of the Indian agricultural setup. According to a research, meat production in India is estimated at 6.3 million tons annually and is ranked 5th in the world in terms of production volume. India is responsible for 3% of the total meat production in the world. The nation has the world’s largest population of livestock at about 515 million.

    The meat production segment has witnessed a healthy growth rate. It is known for generating reasonable returns for the producers. In India, beef and pork serve as valuable nutrition-filled consumables and are available at relatively lower prices. Almost 70% of the Indian population is non-vegetarian. The per capita meat consumption in India every year is around 5.2kg. Chicken and fish have the highest consumption rate. The consumption of poultry meat in India was over 3.9 million metric tons in 2020.

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    The Indian Meat Market
    Why is India a Favorable Destination for Poultry and Food Processing Industries?
    Advantages of Starting Meat and Poultry Production in India
    Opportunity in Poultry and Meat Sector
    Challenges Faced by The Meat Industry in India
    More About The Meat Industry in India
    The Future of Meat Industry
    FAQs

    The Indian Meat Market

    India exports more than more than 7,000 metric tons of poultry meat to other countries. Livestock trading in India is regulated by the state governments. India has the lowest per capita meat consumption in the world. It was just 5.6 kg in 2013, whereas the global average was 33.2 kg in that year. The Indian meat market mostly focuses on fresh meat; frozen meat is mostly exported.

    The volume of meat produced from 2016 to 2019 in India.
    The volume of meat produced from 2016 to 2019 in India.

    India has a large resource pool of animal castings and other by-products. The meat industry in India grew substantially during the periods of 2006-2007 and 2012- 2013. India is the second largest producer of buffalo meat in the world. The poultry meat segment is the largest sub-sector in the country’s meat industry and owned almost 50% of the total meat production in 2012-13. It is followed by beef/buffalo meat, goat meat, pork meat, sheep meat, and lamb meat.

    Uttar Pradesh (UP) is the largest meat producer followed by Andhra Pradesh, West Bengal, Maharashtra, and Tamil Nadu in the specified order. Sustained income and economic growth, a growing urban population, rapidly growing middle class, changing lifestyles, improvement in transportation and storage facilities, and the rise of supermarkets in rural towns are fueling the rapid increase in the consumption of animal-based food products in India.

    Why is India a Favorable Destination for Poultry and Food Processing Industries?

    • India is the fastest growing economy in the world.
    • It is the largest producer of agricultural commodities.
    • It has the second largest consumer market globally.
    • India has significant investments in world class ports, logistics, and supply chain infrastructure.
    • Proactive government policies.
    • Investor-friendly incentives.
    • Highly skilled manpower.

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    Advantages of Starting Meat and Poultry Production in India

    • India has the world’s largest population of livestock.
    • India produces around 5.3 million metric tons of meat and 75 billion eggs annually.
    • India is the largest producer of buffalo meat and the second largest producer of goat meat.
    • The current processing level in poultry is 6% while it stands at 21% for meat.
    • Poultry is a highly integrated industry.
    • The country is on par with the efficiency levels of many western countries.
    • The government of India has taken steps for modernization of municipal slaughter houses to provide safe and hygienic meat to consumers.
    • Export-oriented units have invested significantly in the establishment of large slaughter houses-cum-meat processing plants laden with the latest technology.
    • Farm automation, slaughter houses, logistics, and point-of-sale cold storage infrastructures are amazing growth avenues in India given the changing preference of Indian consumers for clean, safe, and hygienic meat products.

    There are about 27 modern meat processing plants (approved after due inspection) for the export of meat. All export oriented units (EOU) are registered with the Agricultural and Processed Food Products Export Development Authority (APEDA) of India.

    An video about Licious, an Indian startup for meat and seafood production in India.

    Opportunity in Poultry and Meat Sector

    The table below outlines the growth opportunities for the ‘technology and equipment suppliers’ and ‘poultry industry players’.

    Technology and Equipment Suppliers Poultry Industry Players
    New technologies in meat and poultry processing. New products that add value such as frozen products, RTC/RTE, and snacks.
    Cold chains. Egg powder plants.
    New veterinary technologies and services. New feed formulations.
    Food testing labs. Hatcheries.

    Challenges Faced by the Meat Industry in India

    One of the major challenges is improving the productivity of farm animals. The average annual milk yield of Indian cattle is 1172 kg which is only about 50 per cent of the global average. The frequent outbreak of infections like the foot and mouth disease, black quarter infection, and influenza severely impacts livestock health and lowers productivity.

    The next problem is the generation of greenhouse gases by the humongous population of herbivorous animals in India. Reducing the emissions through mitigation and adaptation strategies is a major challenge.

    Crossbreeding of indigenous species with exotic stocks to enhance the genetic potential of different species has been successful only to a limited extent.

    A breakdown of meat production trend in India.
    A breakdown of meat production trend in India.

    Unregulated meat markets, tropical climate, inadequate slaughterhouse hygiene measures, and the lack of surveillance of meat-borne diseases enhance the risk of health-related and occupational hazards. According to research, there are about 8000 registered and more than 20,000 unregistered slaughterhouses in the country and most of them are devoid of basic amenities like light and ventilation. Moreover, the slaughtering and carcass-dressing processes are performed in open areas in highly unhygienic conditions following which the meat is sold with little or no veterinary inspection.

    Finally, the meat production segment is largely unorganized. Traditional production systems and disorderly practices have spoilt the reputation of the Indian meat industry.

    More about the Meat Industry in India

    While India has an abundant supply of meat, the meat processing industry is yet to catch up. Meat processing covers a spectrum of products. It includes animal husbandry, poultry farm produce, bulk frozen meat, chilled and deli meat, packaged meat, and ready-to-eat processed meat products.

    There is immense scope for meat processing in poultry. In fact, the poultry industry has made considerable progress by developing and marketing value-added products. The meat industry is slowly yet steadily catching pace on the global front with India now exporting both frozen and fresh chilled meat to more than 60 countries.

    The major item of export is de-boned frozen buffalo meat which accounts for 97 per cent of the total meat export. The major markets for Indian buffalo meat are Malaysia and Egypt while for sheep meat and goat meat, the markets are UAE, Iran, and Jordan. India also exports a small quantity of processed meat to Thailand, Yemen, and Japan and some poultry products to Saudi Arabia, Oman, Kuwait, and Qatar.

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    The Future of Meat Industry

    Raising animals that are in good health is essential for the production of good quality meat. Farmers’ cooperatives can play a major role in the nourishment and marketing of hale and hearty livestock. They can also encourage backward integration/contract farming. Above all, if the Indian meat industry wants to achieve global recognition, the maintenance of food safety at all stages of production, processing, packing, storage, and marketing of meat and meat-derived products while adhering to the standards prescribed by the importing countries shall make a significant impact.

    FAQs

    What is livestock industry?

    Livestock industry is the industry dealing with raising the animals and processing of the animal products for consumers.

    What is meat industry?

    The meat industry handles the slaughtering, processing, packaging, and distribution of animals such as poultry, cattle, pigs, sheep and other livestock.

    What is the rank of India in meat production?

    India ranks 5th in meat production.

    Who is the largest meat producer in the world?

    The United States is the largest meat producer in the world.

    Which state is the largest producer of meat in India?

    Uttar Pradesh is the largest producer of meat in India.

    Which country is largest supplier of meat?

    Brazil is the largest exporter of meat.

  • Challenges Tesla will Face in India

    Tesla, the electric vehicle manufacturer of Elon Musk, is set to start selling its base model in India in the near future. While many of its fans in India were jubilant about Tesla’s entry, capturing the market can be the most daunting challenge the company has had until now.  A Bloomberg article notes that Elon Musk is negotiating the opening of showrooms and possibly a factory with other Indian states Galuru branch. In India less than 1% of vehicles sold are electric vehicles, according to the Bloomberg report. The launch of Tesla’s business in India will pose a significant challenge for the company. Let’s have a look at the Challenges and Difficulties Tesla might face in India.

    Elon Musk’s clean energy and electric vehicle company Tesla will start operations in India early next year, confirmed Union Minister for Road Transport and Highways Nitin Gadkari.

    Tesla is initially expected to sell its vehicles in India, and Tesla would also look at setting up a manufacturing facility at a later stage depending on demand, Gadkari told The Times of India. At a recent media event, Gadkari said there is focus on developing electric cars and added that a lot of Indian firms are also looking at developing electric cars. Ultimately, Tesla ended up setting up its unit in Bengaluru.

    Challenges for Tesla in India
    Tesla’s Pricing Challenge and Customer Base
    Challenges for Tesla in India – Conclusion
    Challenges for Tesla in India – FAQs

    Elon Musk’s Tesla enters Indian Market

    Challenges for Tesla in India

    India announces steps to improve the country’s Electronics sales but they may not be sufficient to increase the sales of Tesla’s costly EVs. In 2015, India launched the Faster Adoption and Development of Hybrid and Electronic vehicle (FAME), which includes a INR 900 crore pledge to subsidies for electric tricycles for busses, as per the International Energy Agency, with a Faster Adoption and Development of Hybrid and Electronic vehicle (FAME). Another FAME program with INR 10,000 Crore was launched in 2019 to enable people to buy electricity supplies and build charging infrastructure. In addition, by August 2019, the government has reduced the Goods and Services Tax GST on electricity vehicles to 5 percent.

    The tax rates for cars in India are one of the highest in the world. This includes a 28% Goods and Services Tax (GST) and charges ranging from 3% to 22%. Though subsidies for electric cars exist in places like New Delhi, they are not sufficient for more people to afford Tesla’s cars. High taxes deter demand, and thus the attractiveness of economies of scale to consumers is reduced for manufacturers. For international brands, that was disastrous. Toyota announced last month that further growth in India will be stopped due to high taxes. Harley Davidson’s decision to leave the market  recently was allegedly attributed to higher taxes. Last year, Ford announced its move to a joint enterprise for the most part of its assets. So, it will be challenging for Tesla because big companies are pulling out because of higher taxes.

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    Tesla’s Pricing Challenge and Customer Base

    In India, Tesla’s greater challenge is pricing. Given that Tesla’s costly bids would not be eligible for EV subsidies in this region, Bloomberg New Energy Finance (BnEF) Analyst Allen Tom Abraham told Bloomberg that the top limit for EVs in India to eligible for subsidies is INR 15 lakh. It is worth noting that Tesla Mode l3, built in China, is started at 2,65,740 yuan or almost $41,000. The cost of crossing Model Y from Shanghai begins with 339,900 yuan. In addition to the price the export prices and charges on the Tesla cars will not be met for the majority of customers when they arrive in India.

    It is about half that of China’s average prices and just 25% of USA’s average vehicle prices. This suggests that Tesla’s cheapest car in India will attract just around 1% of the market, says Abraham. Tesla would therefore have a marginal sales volume in India. While Tesla is facing challenges, India’s demand for electricity is now at a rising stage and, according to a study conducted by Council of Energy, Environment and Water (CEEW) for Energy Finance, Energy value in India could reach up to $206 billion in the next decadence. If it is to succeed, Tesla must keep its commitment to India. This is not the first time that Tesla CEO Elon Musk promises to visit India, as most musk watchers know.

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    Challenges for Tesla in India – Conclusion

    Tesla would open its Model 3 vehicle pre-bookings, and deliveries would take place later this year. In India, the other Tesla models will be Model X, Model S, and Model Y, with approximate prices of INR 2 crore, 1.5 crore, and 50 lakh respectively. There is no chance of the business working with dealer companies in order to sell their vehicle. Potential buyers should note that while Model 3 is one of the more affordable cars in Tesla, it is not cheap to get to India, since it will be fully-built (CBU) cars with a high import duty. Although the prices are not confirmed, reports show that Tesla Model 3 could cost INR 55 lakh in India.

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    Challenges for Tesla in India – FAQs

    Is Tesla cars available in India?

    As of April 2021, they are not. But Tesla has already set up its unit in Bengaluru so it is assumed that they will be made available very soon.

    Where has Tesla set up its Units in India?

    Tesla has set up its unit in Bengaluru, India.

    What will be the prices of Tesla in India?

    It is expected that the pricing for Tesla in India will start from INR 55 Lakhs.

    Why is Tesla so expensive?

    Tesla’s cost more than average cars due to its use of cleaner energy sources and it’s advanced technologies. In India, other than import taxes they will also not be eligible for EV subsidiaries in India. This would be a challenge for Tesla.

    Which Tesla car is coming to India?

    Tesla Model 3, Model Y, Model S, Model X with approximate prices of INR 55 lakh, 50 lakh, 1.5 crore and 2 crore respectively.

  • Common Problems Entrepreneurs Face and The Truth About Startup Life

    Everyone knows that being an entrepreneur is not easy. But, everyone thinks of becoming one with their “One in a million” idea. Everyone thinks that “this is something no one has ever done”. Everyone has a unique business idea, but there are very, very few people who really give it a try. It doesn’t matter that they achieve success or not, at least they are trying.

    As you are reading this post, I am assuming you are serious about being an entrepreneur. So, here are some problems you will face in your entrepreneurial journey and some truth about startup life.

    Problems Faced By Entrepreneurs
    Brutal Truths About Startup Life

    Problems Faced By Entrepreneurs

    Getting First 10 Clients

    This may seem easy to start, but when you do it, you face many unpredicted things. And one of the main things is getting the first 10 clients for your company. You can’t just rely on advertisements. Advertisements may work, but unless people talk about you, it will never work. And to make people talk, you need a real customer. You need someone who uses your product or service.

    To get your first 10 clients, talk about your startup with people you know. They could be anyone, your friends, your neighbors, or your colleagues. Let everyone know what your product or service is. Do not be introverted while talking about your startup. Startups are not a shame, they are pride.

    Marketing

    Getting the first 10 clients is not enough. It is not written anywhere that once you got some customers, they will market your product. You have to put in effort to market your product. And believe me, you will have to go through each and every kind of marketing process if you don’t have tons of money lying around. You will have to bargain for pamphlet printing, bargain with vendors, tell people about your product or service on roads, and literally everything.

    Startup Marketing
    Startup Marketing

    You will feel uncomfortable, but it will totally worth it. Some people think marketing is only limited to online marketing or creating ads. But marketing is a very vast process than you think. And as an entrepreneur, you will have to map all the roads of marketing.

    Lack Of Experience

    It is much easier for a salesperson to go and acquire customers, but not for others. You will need each and every type of knowledge and experience to really stand a chance to succeed. Try doing as many jobs as possible. Or you can also go for internships. It can be any job. On-field Marketing job is the best as they will make you uncomfortable. And once you are comfortable with being uncomfortable, you are full of “you”.

    If you are going to have a tech startup, it is still advisable to gain some experience first. Gaining experience not only increase your knowledge, but it also increases your network. You cannot really tell that your old school or college friend will buy your product, but your office mate might buy it as they are more mature.

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    Finding A Business Partner

    “If you want to go fast, go alone. If you want to go far, go together.”

    This quote is totally indeed. When you have a partner, and they say “we should do this instead of your plan”, it really sucks. You might think “Man! It was my idea. I’ll do whatever I like”. But believe me, partners are important. However, you cannot go on the streets and ask someone “will you be my business partner.”

    That is why it is very tough to get a business partner. You might have a big friend circle, but not all of them are interested in entrepreneurship. You have to find someone who is as passionate as you are about your business idea. Although there are many websites which let you find your business partner but believe me, they are not worth it.

    You can’t partner with someone you don’t have any emotional relationship with. You may partner with your best friend, they even may like your idea too much. Just make sure they don’t leave you in the middle of anywhere. Many people think they are passionate about entrepreneurship, but internally, they just want money. You can’t be an entrepreneur if you always think about money. So chose your business partner wisely.

    Facing The Awkwardness

    Yes, it is true. There will be many times when you will feel awkward because of your business. It can be anywhere. Like, at a party, someone asks you about your startup which is in its initial stage and not making any profit from months, people will say “get a life man”. You have to understand that they are saying “9 to 5 sucks but we make better money than you”. It is true, but not for a very long time.

    Not everyone understands that great things take time to build. Everyone wants quick results. You may also feel awkward to pitch your product in front of rich and successful people. But you have to understand, once they were also a “nerd with funny dreams”. So, be confident, and don’t stress if you couldn’t make it.

    Brutal Truths About Startup Life

    The Depression

    This is one of the most brutal truths about startup life. You have to face so much depression. Mostly as it is a very time consuming profession which will lead you to lose time spent with friends and family. It can be very alienating at times as your top priority will be only on your startup idea. So, you will need to find proper ways to have a work life balance to ensure you don’t slip into a depression. Read, play or do anything you like and smile more.

    Getting Backstabbed

    Not once, not twice but many, many times you will be backstabbed by your own people. You literally can’t totally count on anyone. There is no guarantee that your partner will never pull his hands back from his responsibilities or even abandon the startup. Or, your friend who told you to provide raw materials on the debt will never file a complaint on you. You really can’t trust anyone.

    This is a startup, this is everything about money. Everyone who is with you in this, are there just for money. And if it will take time to show a profit in the balance sheet, everyone will get frustrated. So, they will see you as their enemy. They can do anything to create problems for you. However, there is no solution to it. You have to go through this. So, keep calm – this is just one more hurdle in your startup story.

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    You Will Fail

    Yes, you will fail! The startup is less of a science and more of an art. And an artist doesn’t make masterpieces in each and every attempt. They fail but they learn. You have to understand that if you have a very unique idea, you will succeed.

    Only 1 out of 10 startups succeed. But that one has failed 10 times. And that is why that is the “one”. And don’t think that you should not give too many efforts as you are going to fail anyway. Exceptions are there. So, do your best, don’t stress, and smile more.

    You Will Face Hate

    Try pitching your product to anyone in the crowd or cold calling anyone, they will curse you to hell. And this will be constant in the journey of your startup till you turn it into a “company”. Hate is nothing but an emotion. So always remember, if someone is hating you, they are thinking about you. Which is so beautiful in itself.

    They are giving you their time. So, don’t stress about it. Even if it’s your best friend who is hating or making fun of you because of your startup. They don’t know what effort it takes to actually working on your idea.

    “All Because Of You!”

    When anything will happen to your company, it will always be blamed on you. And the brutal truth is, you have to face it. Because you are the one who started it. Each and every partner will point their fingers to you in low sales, bad marketing, etc. Even when you are not the in-charge of that area.

    So, instead of arguing in those matters, try finding a solution. Try to back the situation up. And learn from it. If you will try to argue, everyone will be against you. You are the leader and the only string which unites the company.

    Conclusion

    There is nothing wrong in having a dream, but make sure they make you sleepless. Every big entrepreneur was once “another startup nerd”. But they made their way from the social norms.

    Do you have an unique idea? Make sure you give it a chance. And don’t wait for the “perfect moment”, just put your step forward. You can start just now, at this very moment. Later never comes. Just call the person you think can be your business partner, now. Or call the person you think needs your service. Just do something which pushes you forward to your dream. Best of Luck!

  • A Decade Of UIDAI (2009 – 2019): Challenges And Impact

    The Unique Identification Authority of India (UIDAI) is a statutory authority establish under the provisions of the Aadhaar Act 2016 from 12th July 2016 by the Government of India, under the ministry of Electronic and Information Technology. Prior to its establishment as a statuary authority, UIDAI was functioning as an attached office of the then Planning commission and was established  a decade ago on 28th January 2009.

    The logo of Aadhaar
    The logo of Aadhaar

    UIDAI was created with the objective of issuing a Unique Identification Number (UID), named as Aadhaar to the citizens of India. The UID had to be robust enough so it would eliminate duplicate and fake identities and also verify and authenticate in an easy, cost effective manner. The authority has so far managed to issue more than 124 crore Aadhaar numbers to the residents of India.

    After the Aadhaar Act 2016, UIDAI is responsible for operation and management of all stages of Aadhaar life cycle, developing the policy, procedure. And also to systematically issue Aadhaar numbers to individuals and perform authentication and the security of identity information and authentication records of individuals.

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    The Vision and Mission of UIDAI

    The vision of UIDAI is to empower resident of India with a unique identity and digital platform to authenticate anytime and anywhere.

    The mission of UIDAI are

    • To provide for good governance, efficient, transparent and targeted delivery of subsidies, benefits and services, the expenditure for which is incurred from the Consolidated Fund of India, to residents of India through assigning of unique identity numbers.
    • To develop policy, procedure and system for issuing Aadhaar number to residents of India, who request for same by submitting their demographic information and biometric information by undergoing the process of enrolment.
    • To develop policy, procedure and systems for Aadhaar holders for updating and authenticating their digital identity.
    • Ensure availability, scalability and resilience of the technology infrastructure.
    • Build a long term sustainable organization to carry forward the vision and values of the UIDAI.
    • To ensure security and confidentiality of identity information and authentication records of individuals.
    • To ensure compliance of Aadhaar Act by all individual and agencies in letter and spirit.
    • To make regulations & rules consistent with the Aadhaar Act, for carrying out the provisions of the Aadhaar Act.
    An example of the details that Aadhar card contains
    An example of the details that Aadhar card contains

    Some of the main functions of UIDAI are according to the Aadhar Act of 2016 are:

    • Specifying the regulations, demographic and biometric information required for enrolment and the process of verification.
    • Appointing of one or more entities to operate the Central Identities Data Repository
    • Generating and assigning Aadhaar numbers to individuals and authenticating Aadhar number.
    • Maintaining and updating the information of individuals in the CIDR in such manner as may be specified by the regulations
    • Omitting and deactivating of an Aadhaar number and information as specified by regulations.
    • Specifying the manner of use of Aadhaar numbers for the purpose of providing or availing benefits, services and other purposes for which Aadhar numbers may be used.
    • Calling for records and information conducting inspections, inquiries and audit operations for the purposes of Aadhaar Act of CIDR.
    • Data management, security protocols and other technology safeguards under Aadhaar Act.
    • Levying and collection of the fees or authorizing the registrar, enrolling agencies or other service providers to collect such fees for the services provided by them.
    • Setting up of facilitation centers and grievance mechanism for redressal of grievances of individuals, Registrars, enrolling agencies and other service providers.

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    The challenges of UIDAI are

    Biometric Challenges – No single biometric modality is sufficient for uniqueness guarantee. As it needs facial photo, eight to ten fingerprints and possibly iris. The problems with that is that significant percentage of the population will not have a desired biometric pattern: children below 8 years old. Enrollment “kit” that contains everything for a mobile unit. Simple training of enrollee such as video when they are waiting in line for enrollment.

    Rural Biometric Challenges – Fingerprint is socially acceptable, but it requires physical contact. Manual labor, dirty hands, assistance needed to capture prints result in large number of errors or missing prints. When it comes to iris scan it is better technology because it is touch less, but needs camera redesign for rural environment. Need improved user friendly capture to enroll in the open. Its needs in situation monitoring for enrollment and continuous monitoring.

    Biometric De – Duplication – Assuming 10 fingerprints for each and every person. A duplication search requires every fingerprint to be compared against entire database. Assuming a peak load of 1 million enrollments/day at database size of 800 million.

    Architecture Challenges – The architecture challenges includes distributed computing, cloud computing and virtualization, in memory databases and optimizing for computation and network.

    Network Infrastructure – Since rural internet connectivity is very poor the government must work on getting a better mobile network for the rural areas. Enrollment client must work in offline mode and batch upload when connected.  It should ride on credit card POS networks.

    Security and Fraud Detection – It make it secure for client, the server must be able to detect and prevent intruders. It should detect fraud on audit trails. Make automatic alerts like credit card alerts based on suspicious patterns.

    Managing multiple risks – It manages multiple risks such as Adoption, Enrolment, Political, technology, scale, sustainability, privacy and security.

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    The impact of UIDAI and Aadhaar

    Over 90% of Indian adults are now enrolled in the Aadhaar program making the total about 1.2 million people. It has become one of the pillars which people debate on the role of government in our lives. The value of privacy and how we should safeguard it, how public policy should be shaped and implemented and whether technology is being truly harnessed in the best interests of the citizens.

    The impact of Aadhaar from the past 10 years

    Identity is important

    Aadhaar enrolment has been de- linked from a person’s nationality and is instead available to all residents. In order to be eligible for enrolment an applicant does not have to prove their Indian citizenship, they must only provide proof of residence for at least 182 days. The Aadhaar has identity first approach and the number itself does not establish nationality or confer any rights or benefits and only establishes who the person is.

    Focus on Inclusion

    A central debate in India over Aadhaar has been on its claims towards inclusion. It points out vulnerable section of the population as there are many people that have been excluded from individual legal identity, now have an access to a nationally and widely recognized form of identification e.g. the poor migrants, tribal population in remote areas, transgender individuals and the homeless.

    Make privacy a priority

    The Aadhaar was implemented without a framework of data protection and privacy legislation in place, and it is missing in India even today. As a result, while the central repositories of UIDAI have not been breached, the demographic information collected for issuing Aadhaar cards, and the Aadhaar number itself, have been subject to multiple disclosures by government bodies as well as through fraudulent means.

    There was a lack of clarity on the status of information and the rules on how it was to collected, handled and disclosed. Limited data collection for specific purposes and controls on the retention of data, must be incorporated into the program, in the design of the technical system and also in the rules for every partner and agency related in handling identity related data.

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    Technology choices and their costs

    The Aadhaar program costs US $1.16 per enrolment which is the lowest of any identification program in the world. In other parts of the world the costs are as high as US $6 for enrolment and up to US $5 per identity card, which developing countries cannot afford. This makes the system dependent on connectivity for authentication and enrolment which is difficult to adopt for countries with lower mobile and internet usage.

    Which is why UIDAI introduced offline verification in 2018 through a digitally signed copy of demographic information on a QR code on the Aadhaar card. It enabled local authentication without connecting to the centralized database and also addressed the issue of fraudulent Aadhaar cards.

    Financial Inclusion

    When trying to assess the impact of the Aadhaar system, 2 instances are very significant the PDS, where the benefits are disputable and the financial services where its role is to accelerate KYC process in opening bank accounts. The Reserve Bank of India in 2011 recommended the use of the Aadhaar based e-KYC process for opening small bank accounts.

    This received a boost in 2014 with the launch of the Jan Dhan Yojana, through which over 300 million accounts were opened using eKYC. An uptick in account usage was observed once cash benefits were directly transferred to these accounts, suggesting that the lack of an initial balance might be a deterrent

  • Coronavirus Challenges for Travel Startups & how to Survive them?

    The coronavirus aka COVID-19 pandemic continues to spread with no signs of fading away. Preventive measures taken by the public sector and by global industry are already having widespread effects. Most of the businesses around the world are facing many challenges and lower demands of their services & products. Meanwhile, the Organisation for Economic Cooperation and Development (OECD) has said the global economy may now grow at its slowest rate since 2009.

    With the COVID-19 virus spreading to dozens of countries globally, the travel industry is working hastily to both prevent the spread of the virus and navigate through heavy economic uncertainty & slowdown. Now, with the globalized world going into partial or complete lock down over the Covid-19 pandemic, startups in the travel sector are facing a huge stress test as well as immediate interruption to business because public health concern has increased and entire populations are encouraged or even forced not to travel.

    Travelers are reconsidering travel plans both to prevent infection and avoid being quarantined. Due to this, airlines are also facing a huge fall in bookings. Airlines have ceased flights to the hardest-hit areas and reduced capacity elsewhere. Similarly, many hotels are empty or facing declining fall in occupancy; conference organizers are losing major events, local tour operators have far fewer customers due to travel avoidance of customers as experts say that there’s no sugar-coating: It’s rough out there right now. Lean times are inevitable for the travel industry – that much is for sure. But among the furrowed speculation and fearful reports, some of the startup founders have been busy formulating ideas and plans catalyzed by the recent crisis.

    No to non-essential travel

    With restrictions on travel and large business events, many startups, IT majors and corporates have ruled out non-essential domestic and international travel. In a statement, IT major Wipro said: “Wipro has suspended travel to and transit through mainland China, including Hong Kong and Macau, until further notice. Employees have also been advised to avoid non-critical travel to Singapore, South Korea, Japan, and Italy.” As many companies have asked their employees to work from home, it has caused decrease in travel. Asheesh Chanda, CEO of digital wealth management startup Kristal.AI, said all necessary precautions as advised by the government were being taken. “Kristal.AI operates in three locations – Singapore, Hong Kong, and India. Non-essential travel between offices is currently discouraged. We have asked all employees across locations to work-from-home.”

    In the same way, many travel tech companies have seen a spike in cancellations. In general the impact is heavy. While some have stated that demand is dropping off a cliff but it’s not as bad as they thought — but it is definitely heavy. Bookings are down by almost half It’s seeing similar changes in booking behavior. Advanced booking has come down drastically. TravelPerk told that it’s currently dealing with a drop in business globally of around 50%.

    Lockdown due to COVID-19 has resulted in low demands of bookings

    The co-founder and CEO of TechCrunch, Johannes Reck said, “This is the most severe shock that I’ve seen in the last 10 years. The irony of Europe is that we had a fantastic start to the year, consumer sentiment was high, and then it fell off a cliff a few days ago.” An airline trade group said last week that the industry will lose as much as $113 billion in sales because of the coronavirus pandemic. Also, Booking.com withdrew its forecast, citing the worsening impact of the virus on travel.

    Here’s some of the useful tips and tricks for staying afloat in these tough times –

    Look for bright spots

    If your startup has a global focus, look for bright spots of travel demand. Not every area is affected by travel restrictions and flight bans. For instance, depending on your business model and market, one can switch to targeting short journey. Another tactic is to target travelers from areas less affected by the virus. Take a methodical look at current travel conditions and compare that with your target demographics. Wherever you find opportunities, you’ll need to balance pricing with market share and thus customers can be attracted to use your services.

    Also Read: List of Top Travel Startups in India

    Work on your expertise

    The travel community has a unique perspective with many “boots on the ground” i.e. contacts in different places around the world. So ask your suppliers, distributors, partners what is happening on their end. So, by gathering information from them, your expertise can be utilized to provide customers what they are actually needing at this time. This can help with lowering cancellations while also keeping your team informed on the virus.

    Create your USP

    Travelers now face uncertainty and lack clarity over when, where, and how to travel due to constraints. If your startup has a unique selling proposition that addresses some of these challenges, work on it! Try to be creative and see how you might be able to apply your product to add new or unexpected value to the current global situation. Or, perhaps there are aspects of your business model that could be improved a bit to increase relevance in these circumstances.

    Partner up with others

    Now is the time to get creative with partnerships and building relationships. By joining hands with other startups which are also facing the same challenges, new solutions can be found to deal with current circumstances. As you consider potential partners, look for those who may be especially hard in this climate and needing cost-cutting or short-term revenue.

    Also Read: Coronavirus Impact on Digital Payments Startups

    Final Thoughts

    It’s important to remember that no crisis lasts forever and to attempt to look to the future. This isn’t the world’s first recession and it won’t be the last. It’s not the world’s first pandemic and it won’t be the last. The key for entrepreneurs is to keep a cool head about you, don’t do anything and adopt a war footing while your company struggles through choppy waters for 12 to 18 months in the wake of this pandemic. When the crisis recedes and the courts reopen, your company will need to provide an accounting of its obligations and answer for any it has fallen short on in the meantime.