StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
The saree industry is a significant sector in the textile industry of India and other South Asian countries. It encompasses the production of raw materials, such as cotton and silk, as well as the manufacturing and distribution of sarees. The industry provides employment to millions of people, particularly in rural areas, and generates significant revenue.
However, the industry has been impacted in recent years by increased competition from fast fashion and other modern forms of clothing. Nevertheless, the saree remains a popular traditional garment, and the industry continues to thrive.
The online saree market provides a platform for saree retailers to reach a wider audience, both domestically and globally, and offer a more convenient shopping experience for customers. The Indian saree market size is expected to grow by USD 4.14 billion during 2021â2025, progressing at a CAGR of over 6% during the forecast period.
For this Interview, we invited Sasha Revankar, Founder of One Minute Saree, and we talked about the growth, challenges, insights, and future opportunities in the saree industry.
StartupTalky: Sasha, what products does your company sell? What was the motivation/vision with which you started?
Sasha: We sell the saree of the future. It is designed in-house and so easy to wear that anyone, anywhere can order and wear it without any hassles.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?
Sasha: We launched this year itself and we have introduced blouses as well. The USP of our sarees is that they maintain the look and feel of traditional sarees but are so easy to wear, itâs a no-brainer! Other ready-to-wear sarees are like dresses, we use real sarees and maintain the feel and elegance of the 6-yard saree.
StartupTalky: How has the saree industry changed in recent years and how has your company adapted to these changes?
Sasha: We originally planned to launch in March 2020 and of course, those plans got put on hold and we finally launched in Jan 2022. The good news, however, is that during this time our customers adapted more to purchasing ethnic clothing online, so it made our launch all the more impactful.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the saree industry?
Sasha: Itâs important to talk to other people in the industry and share experiences, as well as listen to your customers. Relevant industry publications and tracking the industry leaders are also important.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Sasha: We track our month-on-month revenue growth as well as our repeat customer rate and return on ad spend and conversion rate as key drivers.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Sasha: As this was our first year we faced many startup challenges, many of which had to do with our product and achieving consistent quality since we launched as a made-to-order product. We compensated customers whenever there were issues and worked towards correcting them. To get full control we set up our in-house production unit.
StartupTalky: Repeat purchase is one of the most important parameters on which most e-commerce brands are betting. How do you keep your customer engaged to stop churn?
Sasha: Proper customer service is very key, answering the customers and providing useful solutions. Keeping communication on new launches and engaging them through social media is also effective.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Sasha: We target niche customers and this has given us a loyal customer base to build from.
StarupTalky: What are the important tools and software you use to run your business smoothly?
Sasha: We use a collaboration calendar to get our marketing/catalog/social teams in sync. We also have various in-house tools to help with our order flow.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Sasha: We have just started and the opportunity is vast. Although we are online and D2C, there is huge scope and value in bringing our products to stores.
StatupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?
Sasha: We have to get granular when it comes to the user experience, itâs the number one thing you canât take for granted.
StartupTalky: How do you plan to expand the Customers, SKUs, and team base in the future?
Sasha: Since dealing in sarees we are planning to source more diverse types of sarees and also design in-house exclusive collections.
StartupTalky: With so much hype around D2C brands spending on ads, What will be your growth strategy organic or inorganic? How to plan to work around SEO and content marketing?
Sasha: Long-term SEO is essential. Relying on paid ads is a long road to profitability.
StartupTalky: One tip that you would like to share with another d2c founder?
Sasha: Research your product demand and competitors especially using free tools that Google offers. Get enough info to work out where you may have an advantage and estimate your realistic price point. This can help estimate your ad spend needed for your target conversion and investment requirements.
We thank Sasha Revankarfor spending her valuable time and sharing her learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
The gig economy refers to an economic system in which people work as independent contractors or freelancers rather than as employees in traditional jobs. In this type of economy, people offer their services on a project or task basis, often through online platforms or app-based companies.
This type of work arrangement provides workers with flexibility and the ability to choose when and where they work, but can also result in a lack of job security, benefits, and protections that come with traditional employment.
According to a report published by Maple Capital Advisors, the Indian gig economy was valued at approximately $20 billion in 2020 and is expected to grow at a rapid pace in the coming years. This growth is driven by several factors, including the increasing penetration of the internet and mobile technology, the growing demand for flexible work arrangements, and the increasing number of people looking for alternative sources of income. As a result, the Indian gig economy is projected to grow at a CAGR of 17% between 2021 and 2025 and reach a valuation of approximately $35 billion by 2025.
However, it is important to note that the gig economy in India, like in many other countries, is still in its early stages of development and faces several challenges, such as a lack of clear regulations and protections for gig workers. Nevertheless, the overall outlook for the gig economy in India is positive, and it is expected to continue to grow at a significant rate in the coming years.
For this Interview, we invited, Kajal Malik, Co-founder and CSO of PickMyWork and we talked about the growth, challenges, insights, and future opportunities in the Gig Economy.
StartupTalky: Kajal, what service does your company provide? What was the motivation/vision with which you started?
Kajal: With the vision to create a platform where unemployed youth could register, complete sales gigs, and earn commissions, I (Kajal Malik) along with my friends Vidyarthi Baddireddy, and Utsav Bhattacharjee founded PickMyWork in 2019.
We embarked on this mission only after discovering that, despite developing great product lines, internet companies struggle to expand and attract new customers. They depend heavily on two channels which are outdated and unreliable. Online channels are costly and do not result in transactional customers for internet service providers. Managing in-house sales teams on the ground to sell the product to end users is time-consuming and inefficient. It is more expensive, produces slower results, and is not intended for hype scaling. By-passing these alternatives, we established PickMyWork to facilitate plug & play networking solutions for hyper scaling and creating meaningful value for internet companies. On the other side, PickMyWork presents itself as an income platform for gig workers that promises 3X earnings per hour of effort when compared to delivery gigs.
Co-founders – PickmyWork
StartupTalky: What new features have been added in the past year? What is/are the USP/s of your service?
Kajal: Many consumer tech companies are collaborating with us to improve ROI and achieve faster results in tier 2 and tier 3 cities, where businesses face difficulties in penetrating the market. We freely allow consumer tech firms to concentrate on what they do best, which is creating technological solutions, while we leverage our on-field gig partner network to facilitate the customer/merchant onboarding process.
For Internet companies, this model turns out to be 1/10th cheaper compared to online marketing or having in-house sales teams. Enabling sales gigs at an affordable cost is therefore our USP.
StartupTalky: How has the gig industry changed in recent years, and how has your company adapted to these changes?
Kajal: Disruptive innovations had already infiltrated the gig industry prior to Covid-19, but the pandemic accelerated their growth and mass acceptance. Businesses that initially believed that face-to-face interactions were the only way to execute business were forced to abruptly alter their strategy and become more flexible and dynamic in their customer service. While the global pandemic-inspired digital transformation is constantly revamping the marketing landscape, we at PickMyWork are increasingly educating our workers on marketing tactics to meet client demands. By providing gig workers with various skill sets, attractive payment options, and giving companies access to a larger market via a readily available network of on-demand gig workers, we have garnered a lot of interest in our offerings from different states across India.
StartupTalk: How do you stay up-to-date on the latest trends and developments in the gig industry?
Kajal: We stay current on market trends affecting the gig workforce and the gig economy. We particularly intend to meet the needs and aspirations of all segments of society, from Generation Z to Millennials, who are looking for an opportunity to embrace alternative ways of working and put their entrepreneurial skills to use.
Weâre also interested in deeper technological integration, which can lead to greater automation of work for tech platforms. Furthermore, we are constantly looking for ways to upskill our employees and provide work flexibility that traditional full-time employment does not provide.
StartupTalky: What key metrics do you track to check the companyâs growth and performance?
Kajal: As our business model grows in a variety of channels, including revenue, client base, and conversion rate, we use multiple metrics to track our growth and performance. Analyzing the companyâs sales allows us to determine how well our gig services are functioning in the sector and whether our marketing strategies are paying off or not. In addition, we track the number of visitors to our companyâs website each month in order to assess the demand for our services as well as to assess the reputation of our brand.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Kajal: While many businesses stagnated during the unprecedented times of Covid-19, the gig economy grew exponentially, owing to a massive need for cost-effective solutions and freelance workers.
Also, digital businesses and brands that used to emphasize long-term goals, such as meeting yearly milestones, had to shift their focus toward short-term targets. With such growing trends, we had to readjust our platform and expand our potential by hiring ambitious youth and enthusiastic gig workers that could drive the growth of internet companies.
To upskill them, we undertook initiatives such as live webinars and made use of pre-recorded training videos with an end test for each product to further improve the understanding of the gig agents to work on new gigs and challenging situations.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Kajal: At PickMyWork we believe in the philosophy of honesty and clarity to build trust with stakeholders. Communication too is critical to be on the same page when it comes to expectations from each other. Direct communication also holds true in situations when coursework and priorities change. Keeping shareholders engaged in the project and taking their inputs seriously works for the long run.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Kajal: As a growth-stage startup, we use marketing strategies and growth hacks in the most optimized way. We heavily focus on the CAC, ROI, and RoAS. We focus on different channels of marketing: we use 6 social media platforms which form a major chunk of our marketing. We have a small community of influencers who create awareness and drive user acquisition for us. Other than this we have SMS, WA, and Email as additional tools to reach out to our partners on a regular basis. We maintain our user acquisition with in-app marketing campaigns and giveaways for our partners. Growth hack which worked for us: doing webinars and live sessions with industry leaders on our socials to create awareness on relevant topics without directly focusing on marketing our product. Talk about important day-to-day issues regarding finances. This acts as a consideration stage and a credibility tool for us, establishing us as Key Thought Leaders in our chosen sector. In addition to these, the meme marketing and our office BTS videos have acted as a bridge between the PickMyWork employees and our on-field network of partners, giving a personalized touch by focusing on the PickMyWork team members working behind the scenes to make this gig platform go from strength to strength.
StartupTalky: Keeping up with supply and demand is important. How do you keep both in order?
Kajal: Companies in India are increasingly looking for gig workers to fill roles in business development. To keep the supply and demand for gig workers balanced, we use cutting-edge technology to find, train, and manage agents for digital companies. Our mobile app lists internet products that need to be sold to end users (individual users/shop owners). Any interested youth who wants to earn extra money can download the PickMyWork mobile app from the Google Play store and begin earning when a sale is completed successfully.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Kajal: The gig economy has been growing not only in India but around the world, and it is estimated to outperform pre-pandemic projections due to an influx of gig workers switching from full-time employment.
Since India has been quick to adopt gig trends, domestic gig employment models are expected to become more flexible than ever before. To be able to provide for themselves, workers no longer have to rely solely on traditional 9-to-5 employment to make ends meet.
Although gig work is not yet prevalent across all sectors of the economy, it has the potential to become so in the coming years. The gig economy will include both traditional jobs that have adapted to gig platforms and new jobs that are being created in the industry. Similarly, because gig work is more gender-inclusive, women will be able to take on gig work while continuing to fulfill their other responsibilities.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
Kajal: While we had started out to build solutions for certain kinds of gig opportunities, it became clear with each passing month that there was a tremendous amount of demand from multiple segments of the population for a variety of gig opportunities.
Therefore, with this huge appetite being clearly visible to us, we are now foraying into sourcing and providing various kinds of gig opportunities that we can design and deliver to the ever-increasing number of gig workers registering with PickMyWork. Therefore, allowing the market to guide us on the path ahead instead of restricting ourselves to a predetermined plan, has been one of the biggest lessons learned in 2022.
StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?
Kajal: At PickMyWork we are working diligently to grow and expand into new geographies, upskill our gig workers, and build a solid foundational model for our clients to scale up and acquire customers. As new-age startups emerge in the Fintech, D2C, and Social Commerce spaces, we continue to build more operational muscle and expertise in various domains via the gig model: we aspire to be the preferred distribution channel for all emerging startups. Additionally, we aim to have 10 million agents on our digital distribution network by the end of 2023 as well as build the largest plug-and-play network of its kind to facilitate the hyper-scaling of internet companies.
StartupTalky: One tip that you would like to share with another marketplace company founder?
Kajal: Solve for the side of the marketplace that is harder to solve. The other side(s) become progressively easier to solve after that.
We thank Kajalfor spending her valuable time and sharing her learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
India is known for its diverse and flavorful street food, with each region offering its own unique dishes and flavors. Among them, kulcha is a popular street food and a staple of North Indian cuisine. It is a type of leavened bread that is traditionally made with a mixture of refined flour, yogurt, and ghee.
In India, street food is a popular and integral part of the country’s food culture, and it is widely available in cities and towns across the country. With the growing popularity of street food and the increasing demand for quick and affordable food options, it is likely that the street food industry in India will continue to grow in the future.
However, it is important to note that the growth of the street food industry in India may be impacted by various factors, such as food safety concerns, competition from other food businesses, and government regulations. According to a report published in Business Standard, India’s food service market is expected to reach $79.65 billion by 2028.
For this Interview, we invited, Manas Wadhwa, founder of ठse Kulcha and we talked about the growth, challenges, insights, and future opportunities in the food industry.
StartupTalky: Manas, what does your company do? What was the motivation/vision with which you started?
Manas: Amidst covid and its dynamic temper people are inevitably missing finger-licking, spicy street food. Interestingly, “ठse kulcha” found the key to the stumbling block without weighing heavy on your pockets. Where âGood and Healthy Foodâ comes along with the taste, the place is no other than ठse kulcha!
Our object of the exercise is to bring the essence from the streets of India, the taste you canât impede right into your plate and in your slice of the budget. After the hammer-like hit of Covid 19, we came across the reluctant nature among the masses where they wanted to enjoy street spices like before the new normal came into existence but the agitation of getting infected was honest to goodness high or the cost of falling sick was such that they are forced to avoid their liking in this sphere. Keeping this thought in mind “ठse kulcha” was born, with almost 100 dishes to choose from, so you donât have to stay aloof from your most liked street kulchas.
StartupTalky: What is/are the USP/s of your products?
Manas: Rich aromatic gravies, spicy vegetable stir-fries, moist and tender slow-cooked meat, and sinful desserts each dish shut a unique and different flavor at K se Kulcha but among all, Multigrain Kulcha with delicious mouth-watering chole holds a favorite spot in most peopleâs hearts.
Our Unique Selling Product (USP) is the multigrain kulcha bread which is served along with delicious, smokey Punjabi-style chole. We also offer varieties of kulcha that are not just healthy and tasty but also rich in essential nutrients. Our field professionals, working behind the screen (in the kitchen) make sure to maintain a healthy balance of ingredients. Options in Kulcha bread are most liked by the consumers, as traditionally it is made with flour but at ठse kulcha we offer 5 distinctive bread options that are tasty and healthy. For instance, we have multigrain kulcha, whole wheat kulcha, herbs kulcha, and likewise.
StartupTalky: How has the food industry changed in recent years, and how has your company adapted to these changes?
Manas: There has been no journey if it was challenging yet enjoyable. Recently, a change in consumer demand for vegan options has been observed. Increasing demand will be met across the industry with new items on the menus, and an attempt to offer vegan and plant-based dishes as a staple and not as a limited option for those with alternative diets.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the food industry?
Manas: Our R&D team actively works on observing the latest taste and preferences of the consumers which further helps us in keeping up in the competitive environment. We maintain close relations with our team members and offer refresher courses to sharpen team skills. Web organizes periodic workshops in coordination with the best trainers in the industries to stay updated. Other than this we constantly upgrade our services and menu observing the customersâ feedback.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Manas: I keep a close check on KPIs like sales, labor cost, food cost or cost of goods, and turnover rate as it shows how the restaurant is doing over time. Food is a substantial cost for any restaurant. One good way to keep food costs under control is by tracking your food cost percentage. High staff turnover is another challenge, so keep an eye out for ways to decrease the costs of labor while increasing retention.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Manas: The main challenge we faced while establishing this concept of ठse kulcha, was to find the right field professionals. Usually, on the streets, we see a stall serving a particular kind of dish but here, we have a plethora of dishes to choose from and find chefs who were trained enough to bring out the traditional flavors along with trying out new combinations was the greatest hurdle we faced while establishing this outlet.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Manas: In today’s time, to cope and excel in a highly competitive environment one has to stay up to date. We understand that social media plays a vital role in both building a brand presence and staying updated and here, at ठse kulcha we collaborate with several food bloggers from time and time to maintain relevance amid the changing food trends.
We are also present across various social media platforms like Instagram, and Facebook that provide us with knowledge of the newest food trends. Lastly, customer feedback is a major source of information that motivates us to always do better and be at our best.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Manas: For the success of a restaurant, itâs imperative to stay technically updated, and we at ठse kulcha have always equipped us with the latest and most effective technology applications. For instance, installation of point-of-sale software for guest billing, customer database, in cashier cage. The cage is also the center point for handling all phone calls and mail. Furthermore, the kitchen is divided into four parts: the receiving dock, storage (dry, fresh, temporizer controlled), preparation area, and cooking area.
Every space is equipped with the newest gadgets and technology for optimum functioning. For example, an MMS terminal and weighing scales are installed in the receiving area. In addition, the kitchen has biometric access. Thus no one without their biometrics can enter this area.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Manas: QSR has been very famous in foreign countries for a long time, but it has now entered the Indian market and has a vast scope for development. QSR format is exploding in India post covid with new concepts, and the masses are positively looking forward to this concept.
The foodies of India, especially the students and office employees, are keen to range over food/meal options that are fast prepared, quickly served, and economical. These options help satiate your hunger in a timely fashion. The younger crowd especially shows their interest in the QSR segment, low-priced food, and easy-to-go menu and dining option.
We all know that Indian cuisine is most loved; however, very few restaurants are able to magically pack and serve it in the QSR format. But now, the race has begun, and the market is set to explore and explode with innovative Indian QSR models.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
Manas: One of the most important lessons that I have learned and will always be with me is to focus on networking and staying updated, not just in the case of technology but in every aspect. The industry is always changing, and you need to keep up with those changes as best you can. Networking can enlighten you, help with your challenges, and find you friends who can relate to what you’re going through. It can be uncomfortable initially, but connecting with people over LinkedIn and Twitter can be a great start. Conferences and events are other great places to form connections.
StartupTalky: How do you plan to expand the Customers, product, and team base in the future?
Manas: Talking about business expansion plans, being a first-generation company we have very aggressive expansion plans. We are eagerly looking for business growth partners who would like to shake hands with us. Furthermore, we plan to focus on the Delhi NCR market only.
We are in process of developing various formats for our outlets which could be further branched out into market-specific locations. In simple words, Kiosks for food courts in malls, and full-service sit-down outlets for high street markets. We are mainly focusing on the FOCO (Franchise Owned Company Operated) Business Model, where we and investment will operate outlets sought from a franchise partner.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?
Manas: In my view, thereâs no one said solution or tip behind every entrepreneurâs success but the magic lies in getting started and facing your fears. Fears exist for a reason, but they’re never unconquerable. You may feel reassured to know that many entrepreneurs start a little hesitant and fearful. It certainly is a good time for a passionate food entrepreneur. With thorough groundwork, before venturing into the business brings good results later. Even the best businesses occasionally face financial challenges. Maybe your first marketing strategy didn’t work out, but that doesn’t mean you should quit. When taking on new projects, you must keep your costs and budgets in mind to prepare yourself for any challenges you might face.
We thank Manasfor spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
AI-based services refer to services that leverage artificial intelligence technology to perform tasks that would otherwise require human intelligence. Artificial Intelligence (AI) has the potential to play a significant role in improving the effectiveness and efficiency of homeland security operations.
AI can be used to analyze vast amounts of data from multiple sources, including social media, satellite imagery, and sensor networks, to identify potential security threats and prevent them before they occur. AI is helping different sectors, including manufacturing and real estate, improve products and services.
The AI industry in India is growing rapidly and has the potential to play a significant role in the country’s economic growth. The Compound Annual Growth Rate (CAGR) of the Artificial Intelligence (AI) industry in India is expected to be high in the coming years. According to a report by NASSCOM and EY, the AI industry in India is expected to grow at a CAGR of around 20â25% from 2019 to 2025.
For this Interview, we invited, Atul Rai, Co-founder and CEO of Staqu Technologies and we talked about the growth, challenges, insights, and future opportunities in the AI and analytics industry.
StartupTalky: Atul, what service does your company provide? What was the motivation/vision with which you started?
Atul: I (Atul Rai) along with my friends Anurag, and Pankaj Co-founded Staqu in 2015, which is an award-winning AI research startup with more than 7 years of experience to solve the problem of automation in the audio-video data management domain through our product JARVIS.Our vision is to facilitate a seamless solution for any problem involving image analysis and information extraction.
JARVIS technology was initially developed for homeland security, but after achieving exceptional outcomes, we subsequently spread our wings to other public and private sectors, including Real Estate, Manufacturing, and Retail, as well as undertakings like smart cities, infrastructure, and Covid-19 solutions. Cameras armed with Staquâs advanced video analytics tool JARVIS can offer valuable insights while supervising all parameters in object detection, crowd analytics, footfall analytics, queue management, heatmap analysis, violence detection, fire & smoke detection, smart parking management, traffic congestion detection and behavioral changes that traditional cameras cannot evaluate or foresee.
On direct lines, we have over 100 companies working with us, including some of the top brands such as Raymond, CafĂŠ Coffee Day, Starbucks, Chaayos, Crocs, GMR, JK Cement, Agrocel, and others. In addition, nine state police forces are collaborating with us to meet their needs for safety and security monitoring and criminal identification.
StartupTalky: What new features have been added in the past year? What is/are the USP/s of your SaaS?
Atul: When it comes to enabling safety and data analytics through fully integrated technology, we are miles ahead of any competitor in this segment. The first advantage is that the JARVIS platform is plug-and-play, which means that if you have a camera, you are not required to install any hardware; all that is necessary is a working internet connection. Second, in addition to the video stream, we are analyzing the audio data from the CCTV. This means that scenes will be analyzed using both audio and video data (bimodal data), leaving no gaps. Lastly, we provide video management software that permits users to aggregate all feeds from various locations and view them all in real-time while also receiving real-time alerts. So, while our competing companies show post-event analysis or day-by-day reporting, we, on the other hand, enable real-time feeds. Furthermore, we target not only CCTV cameras but also drones, and the Jarvis platform can even analyze mobile streams.
StartupTalky: How has the AI and analytics industry changed in recent years and how has your company adapted to these changes?
Atul: In recent years, changes in analytics technologies have been rapid and widespread. Data and analytics had grown in importance to the point where it was being referred to as the new oil or gold.
In todayâs hypercompetitive marketplace, modern businesses have begun to recognize the value of data analytics, as they depend heavily on data-driven solutions rather than dominant narratives or instincts to make more precise choices, maximize efficiency and be more intelligent. Itâs no surprise that companies are heavily investing in visual data analytics to improve everything from retailing and manufacturing operations to security.
With cutting-edge image recognition technology and smart monitoring of objects, crowds, perimeters, and vehicles, JARVIS has proven to be one of the simplest highly configurable AI-based Video Analytics Engines. JARVIS offers a user-friendly dashboard that enables clients to track critical incidents and respond appropriately. The Video Wall panel facilitates centralized monitoring of all cameras from different locations on a single screen. Additionally, JARVIS Video Analytics provides dependable, dynamic, and comprehensive solutions with over 40 use cases. Furthermore, insights from 85+ analytics dramatically improve operational intelligence and accelerate situational awareness.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the AI and analytics industry?
Atul: At Staqu, we keep up to date on all technological and industry trends. We enjoy reading the most recent research papers in the Artificial Intelligence (AI) domains that have a good number of citations. On Twitter, we also follow some researchers and technologists who share very insightful perspectives on AI. In addition, our team enjoys listening to podcasts and following the lives of creators in the technology industry on YouTube.
StartupTalky: What key metrics do you track to check the companyâs growth and performance?
Atul: Revenue is among the most insightful business metrics that we track regularly at Staqu. By analyzing our companyâs sales, we can determine how well our products and services are performing in the sector and whether our marketing tactics are effective. We also like to track the number of visitors to our companyâs website each month because it is a great way to assess the hype of our product offerings and the overall public image of the company. Furthermore, we monitor our customer satisfaction index regularly through feedback and surveys to guarantee that they are pleased with our offerings.
StartupTalky: What were the most significant challenges your company faced in the past years and how did you overcome them?
Atul: The toughest challenge was dealing with the marketing of artificial intelligence, which was a novel idea in 2015. When AI was first introduced, most people thought of it in terms of robots that could perform human tasks. However, as the market developed and the right investors got involved, this barrier was effectively addressed. Furthermore, India falls short behind regarding the infrastructure of camera systems that are less than 5 megapixels in most places. As a consequence, weâve had to develop features to handle low-resolution video feeds, multi-camera trafficking, and other issues. Like any other business we had to encounter other challenges as well, but fortunately, we have a dedicated team of employees who see every obstacle as an opportunity for the companyâs overall growth.
StartupTalky: Customer Success has become more important than ever. How do you keep your customer engaged to stop churn?
Atul: In the AI domain, if the user experience with software or applications is sluggish, glitchy, or otherwise complicated for them to implement, they are less likely to deploy it or build expertise with it, increasing the likelihood that they will not remain loyal. Customers want to feel valued and accepted by the communities they support, and if they have negative interactions with the company, they will leave.
Therefore, at Staqu we employ proactive customer service, which actively seeks to identify and resolve issues before they negatively impact the customer experience. We also improve customer experience through other channels of communication, such as marketing content and social media channels, to reduce customer churn.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Atul: A well-thought-out marketing strategy demands powerful insight, dedication, and research, as well as a time and energy investment. Staqu has a sturdy roadmap in place to ensure that all marketing strategies continue to be integrated with our product portfolio. The first step in expanding our business into new customer geographies is to be able to reach the right target customers through the right mediums at the right time. We also keep track of our customersâ insights, which outline market values, potential, and prospects. Furthermore, we keep our marketing strategy up to date by analyzing our campaign performance. This also allows us to tweak and modify our approach as the business and market evolve and change.
StartupTalky: Content marketing and Community building are something everyone is talking about in SaaS, how do you plan to leverage that?
Atul: Almost every SaaS business (both B2C and B2B) is now utilizing content as part of its branding strategy to orient itself as a specialized thought leader by providing its audiences with valuable, insightful resources. It necessitates a lot of effort to create remarkable content, but it is well worth the investment, notably if it is evergreen and can boost conversions and profits in the long term. Since each SaaS solution has attributed keywords, we initiate our compelling content by considering the terms users search on Google when looking for an AI data analytics product or service. We believe in designing content that provides actionable information to the reader and persuades a potential customer to sign up for our SaaS product/service.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Atul: Software tools are critical for simplifying both internal and external work. Salesforce, Keka, and Slack are a few tools we use to streamline our business processes. Weâre also experimenting with Eddy AI for email automation.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Atul: Billions of cameras are used for monitoring around the world. Add to that- there are billions of cameras implanted in smartphones and other personal gadgets, and we have a mind-boggling ecosystem yielding incomprehensible amounts of video data every minute. Therefore, video analytics is a rapidly evolving field around the world, and it will continue to expand in the coming years as data volumes grow exponentially year after year. As a consequence, we have to constantly update our resources to engage with big data. At the same time, what distinguishes this field is that it applies to the evolution of every business in the world. Itâs also a thriving industry for young prospective students to enter because thereâs a lot of unstructured data, which means there are a lot of interesting job opportunities.
StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?
Atul: Working in the AI field has taught us the value of listening to and receiving client feedback. This enables us to innovate, renovate, and make constant adjustments and modifications based on clientsâ use cases and preferences. Besides focusing on our product portfolio and clients we also realized the importance of investing in our employees because they are the most valuable assets one can have.
StartupTalky: How do you plan to expand the Customers, product features, and team base in the future?
Atul: Growth and expansion are major considerations for all business owners and entrepreneurs. For us, expansion encompasses not only improving business traction and offering new products or services, but also optimizing employee and shareholder values, ramping up marketing efforts, forming partnerships, merging with or acquiring another company, and advancing online. With video and image data accounting for 60-70% of all data on the internet, our growth strategy is to maximize on all fronts. The key, however, will be to serve as many industries as possible by deploying JARVIS to automate their internal operations.
StartupTalky: One tip that you would like to share with another SaaS founder?
Atul: Looking at the market as a whole, developing software is becoming increasingly easier to set up, and the industry is becoming increasingly congested. We now have more available skills, more advanced technologies, and so on, all of which lower the impediment to entry for developing software. What will set you apart is your brand and your ability to discover and connect with potential clients. Most importantly, every successful business must address problems and gaps that no other brands are currently addressing.
We thank Atulfor spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
Handcrafted metal artifacts refer to metal objects that are created by skilled artisans using traditional techniques and tools. These can include a wide range of products, such as jewelry, decorative objects, utensils, and more. Handcrafted metal artifacts are a popular and traditional form of art in India, and they are in high demand both locally and internationally.
The demand for handcrafted metal artifacts has been growing in recent years due to the increasing popularity of traditional and artisanal products. This trend is likely to continue, driven by a growing appreciation for unique and high-quality products as well as a desire for sustainability and a connection to local cultures.
According to IMARC Group, the global handcrafts market size reached US$ 752.2 Billion in 2022. Looking ahead, the market is expected to reach US$ 1,296.6 billion by 2028, with a compound annual growth rate (CAGR) of 9.1% from 2023 to 2028.
For this Interview, we invited, Palash Agrawal, Founder and Director of Vedas Exports, and we talked about the growth, challenges, insights, and future opportunities in the handicraft industry.
StartupTalky: Palash, what products does your company sell? What was the motivation/vision with which you started?
Palash: Vedas exports is a renowned name in the domestic as well as export markets when it comes to handcrafted metal artifacts. We design and manufacture all our products in-house. My vision behind the company was to build a global enterprise that offers dĂŠcor products showcasing Indiaâs rich cultural heritage and excellence of metal handcraft. We have been able to make a mark on the global market within a short duration due to our emphasis on quality, excellence of customer service, and commitment to giving a contemporary touch to classic dĂŠcor items.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?
Palash: We have been regularly introducing new designs and products. Some of our new additions in 2022 include various nature-inspired products such as trees, leaves, birds, and nature or garden-themed products. What makes our products stand out is the high quality of materials used in producing them. Recycled metals match the handcrafted excellence of our artisans to create sustainable artwork. The colors that we use are environmentally friendly and safe. Further, we have an unmatched customer service mechanism with options to replace the products and other such customer-centric initiatives, which make Vedas Exports a preferred brand for the customers.
StartupTalky: How has the handicraft industry changed in recent years, and how has your company adapted to these changes?
Palash: India is a prominent handicraft exporting country in the world, and the overall handicraft market was estimated to be over $4.35 billion in 2021/22. Recently, we have been witnessing very strong demand in countries like the US, UK, UAE, Australia, and other European nations. The handicraft export market in India is highly evolved and structured. Today, the country exports almost every type of dĂŠcor products ranging from metal artifacts and carpets to wooden craft. However, our core category, which is metal home dĂŠcor products, is witnessing even stronger growth since the demand is not only strong from overseas markets but also from domestic buyers. We have been focusing on the growing trends and have steadily revamped our product offerings to ensure the continuous availability of creative and high-quality artifacts for the audience.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the handicraft industry?
Palash: I regularly read about the various developments and emerging trends in the global arena. At Vedas, the emphasis has been on creating unique designs based on the heritage Indian metal handicraft. We also constantly listen to customer feedback and expectations and design our products as per the changing preferences of the buyers.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Palash: Our focus is on providing assured support and sharing information that the customers donât generally get elsewhere. Thus, we can achieve greater customer retention and organic publicity through customer recommendations. Repeat purchase and word of mouth are parameters that we count on too.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Palash: There were a lot of challenges, and we had to constantly adapt to the changing market scenarios and keep our customers engaged. We have overcome the market challenges by always focusing on creating art that has its own story to tell. We also envision the creation of dĂŠcor pieces that can be effortlessly integrated into any dĂŠcor or part of the interiors of a home, office, or restaurant. Sustainable manufacturing practices, appealing designs, and excellence in customer service have been a part of our strategy to maintain our position in the market.
StartupTalky: Repeat purchase is one of the most important parameters on which most e-commerce brands are betting. How do you keep your customer engaged to stop churn?
Palash: Instead of focusing too much on marketing activities and gimmicks to engage the customer, our focus has been on ensuring high-quality standards, and a customer-centric sales and support process. Our customers feel related to the products they buy and appreciate the best-in-class support, leading to superior customer retention and engagement consistently.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Palash: We rely on content marketing as our primary channel to reach out to our audiences and we have achieved significant success with it. The growth hack that Vedas Exports has leveraged is to build a customer-centric business where our customers love the products as well as the service on offer. As a result, we enjoy higher customer retention than most other brands and also a lot of organic growth through word-of-mouth publicity.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Palash: Need Inputs For billing and maintaining the stock, we have a CRM system associated with a private company. For Accounting we use Tally. For other daily office tasks which include entering data manually, video conferencing, etc, we rely on Google since it is one of the most secure systems out there. Microsoft Excel is also one of the most used software in the office. Again, we do have a separate CRM system for online.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Palash: The economy right now is a bit slow due to rising oil and petrol prices but if we have to discuss in terms of the decor industry we are witnessing a growing trend. Consumers are increasingly looking into buying home decor items with changing times. With workplaces becoming remote and work-from-home mode getting adopted, a huge chunk of people is looking into buying home decor pieces to adorn their workspaces with.
Talking about market behavior across different states in India, we may notice that the classy and subtle designs sell more in North India while South India opts for more colorful, gold vibrant patterns. On the Eastern side of the country, markets are full of wooden pieces. States like Goa prefer a modernized touch to their pieces while urban cities like Mumbai with smaller houses prefer minimalistic designs. Places with huge villas prefer a lot more items to fill their houses with The world economy is suffering due to the ongoing war but once everything is settled we could experience a lot of opportunities for the home decor industry.
StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?
Palash: Today, we are paying a lot of attention to feedback and customer grievance. Vedas also does a follow-up call with the buyers to understand their experience with the products. We integrate the feedback received by further refining our products. Earlier, we focused more on offline sales through partner stores, but in the last year, our emphasis has been on growing an online presence. We have a full-fledged e-commerce website and are now able to offer a hybrid shopping experience across offline as well as online channels.
StartupTalky: How do you plan to expand the Customers, SKUs, and team base in the future?
Palash: Expansion of the product range and the team is an ongoing process with Vedas. We have an in-house design and manufacturing facility, and every few months, we add new products to the portfolio alongside training more artisans to join our team and earn a healthy and respectful income for themselves. We are planning to train more female artists who will not only add a new dimension to our teamâs creative approach, but also bring about inclusivity. Our products are sustainable and made from recycled metals, eco-friendly colors, and so on. We are aiming to drive customer awareness through content marketing and sharing of insights on our products as well as the emerging trends and how Vedasâ products are the right fit for every need.
We have been working to expand our footprint and our aim is to become the top brand in the Indian as well as a global metal handicraft market. The goal is to have at least 400 sister stores throughout India, and long terming-term, we will establish a worldwide presence. My vision is to reach a level where every residential or commercial property would have at least one Vedas product as a part of its interior dĂŠcor.
StartupTalky: With so much hype around D2C brands spending on ads, what will be your growth strategy organic or inorganic? How to plan to work around SEO and content marketing?
Palash: As a growing brand with domestic as well as international markets to cater to, we are focusing on digital and content marketing to drive awareness about our products and their USPs. The key for us is to make every customer happy by offering the right product and uniqueness as well as superior quality. Happy customers lead to a lot of organic growth as they proudly recommend Vedas to other buyers. As far as our content marketing strategy and SEO is concerned, the first thing to focus is on creating a compelling story for each product. When the customer is able to see the picture and relate to it, sales conversions happen. The SEO activities revolve around the most trending keywords such as product types to drive the audience to our online store.
StartupTalky: One tip that you would like to share with another D2C founder?
Palash:
Focus on your goals and what you want to achieve in the long term
Always balance out the expense and selling. Expenditure should never cross your selling/spending power in business
Watch out for competitors and always practice forward engineering.
We thank Palash for spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
Flexible workspaces are becoming a popular solution for businesses of all sizes, offering a flexible and cost-effective alternative to traditional office spaces. From coworking spaces to serviced offices, the market for flexible workspaces has grown tremendously in recent years, providing businesses with a range of options to meet their specific needs and requirements.
According to a report by Maximize Market Research, the global flexible workspace market is expected to reach a size of USD 82.71 billion by 2027, with a compound annual growth rate (CAGR) of 13.9% during the forecast period. This growth is attributed to the increasing demand for flexible workspaces, driven by the changing nature of work and the need for more flexible and cost-effective solutions to accommodate the evolving needs of businesses.
For this Interview, we invited, Arjun Gulati, Co-founder of Easydesq, and we talked about the growth, challenges, insights, and future opportunities in the flexible workspace industry.
StartupTalky: Arjun, what service does your company provide? What was the motivation/vision with which you started?
Arjun: Easydesq is a SaaS-based product providing an option for employers offering to step out and work at a facility near their homes to overcome power and network issues. The company is working to reduce permanent office rentals, by making distributed work simple, seamless, and sustainable. I along with Dhruv Agarwal saw a massive opportunity in the shared workspace for corporate users. Limited supply options, and the inability of clients to verify the credibility of various operators/space providers, are some of the pain points that Easydesq is trying to solve. We are tapping into the white space of digital-first search to resolve the need for optimal office space.
StartupTalky: What new features have been added in the past year? What is/are the USP/s of your service?
Arjun: A digital-first approach toward turning around deals has been the USP for the brand, helping us scale at a faster rate. Easydesq has curated a cocktail of digital and offline mechanisms to reach relevant stakeholders which includes founders/ CXOs/ Senior management folks, through Digi-marketing ads on various platforms, while targeting them at special forums, industry events, etc. for the offline reach-out.
StartupTalky: How has the flexible workspace industry changed in recent years, and how has your company adapted to these changes?
Arjun: The co-working industry has been around for about 17 years, but itâs still relatively new. The recent boom in popularity is due to the broadening acceptance of remote working, a phenomenon that is only growing with the rise of technology. We see a massive opportunity in the shared workplace for corporate users who have to decide with only limited supply options. The co-working space has witnessed a drastic change post-Covid, in terms of choice of preferences in working spaces. Easydesq is trying to solve and tap into the white space of digital-first search to resolve the need for optimal office space.
StartupTalky: How do you stay up to date on the latest trends and developments in your industry?
Arjun: We keep ourselves informed on the latest trends and developments in our industry by allocating time for industry research, connecting with thought leaders, and leveraging social media for recent updates. Also, monthly reports are shared by Operators about their Anchor tenants, Occupancy, and new take-ups.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Arjun: We track Companyâs growth and performance by revenue and ARR. Easydesq did $100k+ revenue last financial year and is well on track to achieve $300k+ revenue in FY 23. The company is growing 200% this financial year with aggressive plans to increase the team size and grow to achieve at least an ARR of $2mn in FY23-24.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Arjun: Facing Challenges is something very common in the start-up world, as there are a lot of new things that need to be figured out. Adapting to change is essential to effectively deal with such problems. The most significant challenge our company faced in the past year was when everything came to a standstill when 2nd covid wave hit us. People were facing personal losses and we couldnât ask our clients to come back to the office at that time.
How we overcome this was when we started with smaller transactions. We took a very different approach since people were scared to even leave their homes and convincing them to come back to the office was not easy. So we thought of a âBack to office strategyâ for all our clients which helped them call back all their employees gradually and now all our clientâs offices are working on almost 90% + strength in current times.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Arjun: The depth of supply options, coupled with our personal touch, for all the clients allows us to stitch customized deals for every customer. This ensures a very high repeat & referral business for us along with building trust for the company.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Arjun: To build our presence in the industry, Easydesq actively leverages digital marketing platforms, strategic alliances and affiliate partners, direct sales channels, and events with government bodies and industry federations.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Arjun: Easydesq is a premier destination that offers a tech-enabled platform for the workforce to search and book flexible workspaces. Offering an easy, effective, and brokerage-free solution, the company serves as a true marketplace to make an informed choice for workspace seekers. A digital-first approach toward turning around deals has been the USP for the brand, helping them scale at a faster rate. We curated a cocktail of digital and offline mechanisms to reach relevant stakeholders which includes founders/ CXOs/ Senior management folks, thru digital-marketing ads on various platforms, while targeting them at special forums, and industry events, for their offline reach-out.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Arjun: Similar to other significant economies, Indian real estate is still in the early stages of technological adoption. The proptech market has had a significant rise over the last two years and will continue to do so going forward. The market already had a significant impact on all facets of real estate, from transactions, planning, and design, to building methods, rental, and property administration. The year 2022 was a good year for the entire real estate sector after a long gap, looking past the disruptions in the last 5-6 years caused by demonetization, the introduction of RERA & GST, the NBFC crisis, and of course, the COVID-19 pandemic. We strongly believe that the real estate sector will continue a growth trajectory in 2023 as well.
StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?
Arjun: One thing that we learned was, thereâs very less margin of error here since we are growing at a rapid pace. If we want to make it big we all have to give in our all. A companyâs success is defined by team effort. Our strategy is simple, to be honest with our customers.
StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?
Arjun: We have serviced 40+ corporate clients in their 18-month journey so far. We plan to attract our customers through various channels including digital marketing, offline outreach, and curating a cocktail to ensure a healthy growth rate for the business. Easydesq is present across Delhi NCR and Bangalore. However, we are planning to penetrate Hyderabad, Ahmedabad, Chandigarh, Pune, and Mumbai markets by end of 2023.
StartupTalky: One tip that you would like to share with another marketplace company founder.
Arjun: Being an entrepreneur is not as easy as it may sound. I would suggest my friends invest more time & money in technology. We are already competing with International Property consultants and in no time aggregatorâs tech will help our industry reach small and medium businesses better and faster.
We thank Arjunfor spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
The menstrual care industry refers to the production and distribution of products related to menstrual hygiene, such as sanitary pads, tampons, menstrual cups, and panty liners. The industry has grown significantly in recent years with increasing awareness of menstrual health and the need for sustainable and eco-friendly options. Companies are investing in research and development to create products that cater to diverse needs and preferences and address issues such as comfort, absorbency, and environmental impact.
The industry is expected to continue its growth in the coming years, driven by factors such as rising disposable incomes, urbanization, and greater access to menstrual care products through e-commerce platforms. According to market research reports, the global menstrual care industry is expected to have a CAGR of around 5% to 6% between 2021 and 2026.
However, the growth rate may vary in different regions, with developing countries witnessing higher growth due to increasing awareness and better access to menstrual care products.
For this Interview, we invited, Sujata Pawar, Co-founder of Avni, and we talked about the growth, challenges, insights, and future opportunities in the feminine hygiene industry.
StartupTalky: What products does your company sell? What was the motivation/vision with which you started?
Sujata: I (Sujata Pawar) and along with my husband Apurv Agrawal founded Avni in April 2021 to provide toxin-free, functional menstrual care products for women based on their flow, body type, and comfort. My anecdotal experience as a woman is the primary motivation behind setting up this start-up. Iâve had periods and the challenges that stem from them for the past 18 years, and I can confidently state that commercial pads have always caused redness, rashes, discomfort, and various types of skin infections. I began looking for better alternatives 8 years ago and was surprised to discover that none of the existing brands in the market catered to these considerations.
So I set out on a mission to provide well-researched menstrual hygiene products that are not only appropriate for sensitive areas but also eco-friendly and safe for sanitation workers. After doing my research and applying my original ideas, we launched our first product- Avni Anti-microbial reusable cloth pad- Avni Lush & Avni Fluff, Indiaâs first tested cloth pad that not only absorbs period leaks but also protects against infections. Our product line also includes Avni Natural Cotton Sanitary Pads, Avni Period Wear Wash, Avni Menstrual Cup & Wash, Avni Antibacterial Soothing Intimate Care Wipes, and Organic Cotton Pantyliners. In addition to our massive online presence on major e-commerce platforms such as Amazon, Flipkart, OneGreen, Youcare, Smytten, and Woovly, have 26 retail outlets in southern India where our products are well received as a reasonable alternative for plastic-based sanitary products.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of your products?
Sujata: Avni means âThe Earth,â and as a female hygiene brand, we are guided by Grand Moms and Ayurveda to offer our customers sustainable and safe products. Our products are proudly Made in India, and we believe that relying on locally sourced ingredients and skills leads to true empowerment. We take great care to guarantee that all of our ingredients are organic and non-toxic. Moreover, all of our packaging is 100% recyclable and eco-friendly.
We distinguish ourselves from the competition by focusing on a modern approach to time-tested ancient methods of managing menstrual cycles using high-quality natural ingredients backed by women themselves. As an example. Anti-microbial reusable cloth pads are designed to be effective and low- maintenance, particularly for impoverished rural women. The anti-microbial feature reduces the risk of bacterial infections, and disinfecting the product requires very little water and regular soap, which can be done while other clothes are being washed. Weâve also set up 24-hour helplines to help menstruators with product-related questions.
StartupTalky: How has the feminine hygiene industry changed in recent years, and how has your company adapted to these changes?
Sujata: While the feminine hygiene industry in India is still in its infancy, the recent growth is primarily attributable to widespread public awareness of the significance of intimate hygiene.
A decade ago, the only predicament with menstrual hygiene was the effectiveness of sanitary pads. All of the major brands addressed a few parameters such as pad size, dryness, and wettability. With the entry of new-age start-ups in the menstrual hygiene space, the emphasis has shifted dramatically from effectiveness to comfort, and from plastic-based sanitary products to organic and sustainable sanitary pads. Products such as pantyliners, tampons, menstrual cups, and intimate cleansers, which were previously unavailable, have begun to gain popularity.
In our initiatives, we developed holistic solutions for women of varying ages and demographics, from menarche to menopause. After recognizing the limitations of traditional plastic pads, we took on the herculean task of redefining the traditional way of menstruating by assisting women in making an eco-friendly switch.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the feminine hygiene industry?
Sujata: We stay up to date on the latest trends and developments in our sector through innovation, automation, and digitization to deliver our customers with enhanced efficiency through leading material flow offerings. As we have decided to work toward a more sustainable future, our daily operations are guided by our desire to create more resource-efficient sanitary products that are safe for both our manufacturing workers as well as our loyal customers.
StartupTalky: What key metrics do you track to check the companyâs growth and performance?
Sujata: Running a successful business necessitates a thorough examination of the work, sales, and financial outcomes. Therefore, at Avni, we prioritize sales revenue as it informs us a lot concerning our company. Month-to-month sales findings suggest whether people are interested in buying our products, whether our advertising endeavors are paying off, and, most importantly, whether we are still in the competition, among other things. There is a plethora of key performance indicators to measure performance, but measuring them all is pointless. We track business metrics that show how our company is doing based on our goals. Tracking irrelevant KPIs only serves to divert attention away from the things that matter.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Sujata: As a D2C brand, we faced numerous difficulties since our inception. We recognized that transitioning from conventional period products is not easy for every woman. So, for Avni to establish itself as a trustworthy womenâs health brand, we worked hard to garner the support of dedicated doctors and medical experts and provide a 24X7 Avni Buddy service helpline. Our customer service representatives strive to identify each customerâs concerns and guide them toward better product application and applicability.
There is also a large hindrance when it comes to serving rural areas, where adoption rates are lower than in urban areas. To address this, we launched the DAAG project, in which we collaborate with NGOs to provide educational and awareness sessions to young girls from rural communities and remote areas. We also donate menstrual health kits to resource-poor menstruators like sex workers, waste pickers, and college dropouts who rely on low-quality sanitary products through this social outreach project.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customer engaged in stopping churn?
Sujata: At Avni, we truly understand the value of retaining an existing customer, which is far less expensive than acquiring a new one. As each customer is unique, we categorize them using different metrics such as age, gender, job title, location, interests, purchase history, and more. This enables us to target the various segments with customized messaging that speaks directly to them and addresses their specific needs and desires. We even provide an incentive in our re-engagement emails to increase conversions. This could be a discount code, free delivery, a free item, or another incentive to entice the customer to return.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Sujata: When publicizing the most basic product â the sanitary pad â female hygiene brands have encountered several barriers from abashed viewers. Keeping the existing problem in mind, Avni has emerged as a new-age brand catering to a whole new market of intimate hygiene products such as tampons, menstrual cups, and panty liners, we are marketing our products online and offline in such a way that it generates the proper conversation about intimate hygiene, which we have been embarrassed about for many years.
At the same time, we are extremely concentrating on organic and low-cost performance marketing efforts. Social media and personalized email marketing have been a go-to medium for us as it is the fastest growing channel to connect with customers and bolster product sales. Moreover, as most customers prefer to have a comprehensive knowledge of the product before making a purchase, so our real-time conversations with experts to answer their questions are certainly making a big difference for a brand.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Sujata: From the very beginning of our journey, we emphasized taking the help of technology in growing and building the business. We have been using various tools on the website to help us communicate with customers effectively and stay connected once they have visited our website. At the same time, it is important to have tools such as OMS and WMS tools to manage the regular order inflow as well as the warehouse inventory.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Sujata: Menstrual hygiene is gradually garnering acceptance in mainstream culture, and the stigma associated with it is beginning to disintegrate in both rural and urban communities.
However, the adoption rate is slower in rural areas than in urban areas where educated women have greater access to resources. Nonetheless, the trend of eco-friendly products in female hygiene will redefine the practice of menstrual hygiene in rural areas in the coming years due to their cost-effectiveness and reusability. Greater awareness about feminine hygiene and the benefits of using organic personal care products will further drive market growth in India.
StartupTalky: What lessons did your team learn in the past year and how will these inform your plans and strategies?
Sujata: One of the biggest learnings for our team has been to stay focused on the basics and make sure we stick to the basics. Be it marketing, sales, product launch, or new product development, the basics never change. Our plan is simple, find the right need gap, develop functional products at an affordable price to customers, and be present on the right distribution channels for customer discovery.
StartupTalky: How do you plan to expand the Customers, SKUS, and team base in the future?
Sujata: At Avni, we believe that female hygiene products are a necessity for all menstruators. Therefore, we intend to target every corner of the country via our online and offline models and do not want to be limited to a particular geography. We simultaneously seek to create a world where menstruation is not considered taboo anymore, where period poverty is non-existent and every menstruator is proud of bleeding.
In rural areas, we are focusing our efforts on increasing menstrual hygiene management awareness while also creating job opportunities. Each cloth pad that a customer purchase is meticulously hand-stitched by our tribe of incredible women spread across rural India. 8% of our profits are dedicated to empowering women and girls through education and high-quality products. So, for every pad purchased, one woman gains economic stability. We hope to reach 10 million women through our products, ambassador network, and micro-entrepreneurship initiatives as part of our ongoing efforts to improve womenâs lives. Simultaneously, we are working diligently to broaden our product portfolio and strengthen our team to meet our business objectives.
StartupTalky: With so much hype around d2c brands spending on ads, what will be your growth strategy organic or inorganic? How to plan to work around SEO and content marketing?
Sujata: There has almost certainly never been a better opportunity in India to initiate a D2C feminine hygiene care brand. Owning much to the access of smartphones, the propagation of the internet, and, most importantly, menstrual hygiene understanding, customers are regularly considering a host of new products, which is bolstering the development prospects of feminine health.
Based on previous purchases, preferences, shopping behavior, and demographics, D2C empowers us to recognize each customerâs interest and create specific deals to drive purchasing decisions using a data-driven strategy. The direct-to-consumer subscription service model also provides shoppers with a more convenient, personalized, and cost-effective way to purchase what they require regularly. We have also seen referrals and word of mouth having a tremendous impact on our business. At the same time, direct interaction with clients during every phase of the purchasing process, including after sales, further enables us in driving organic traffic.
StartupTalky: One tip that you would like to share with another D2C founder?
Sujata: As the demand for personal hygiene products grows, we anticipate the emergence of more startups and brands in this space. For any D2C brand to stand out among its rivals, they need a business idea worth building a business around. They must also identify existing need disparity and assess their market potential to address the same. Lastly, it is critical to be able to sell products at a price point that makes sense for the customer while still allowing the brand to make a profit on each sale.
We thank Sujata Pawar for spending her valuable time and sharing her learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
EdTech, or educational technology, is helping to transform the education sector in India in several ways. Some of the ways in which EdTech is helping to improve education in India include accessibility, personalized learning, cost-effectiveness, and skill development.
Many players are entering the Edtech industry and attempting to solve various problems associated with India’s learning system. Overall, EdTech is helping to improve the quality and accessibility of education in India and is playing a crucial role in addressing some of the major challenges faced by the education sector in the country.
According to Statista, the online education market is expected to reach $166.60 billion in revenue by 2023, and show an annual growth rate of 9.37% over the period of 2023â2027, leading to a projected market volume of $238.40 billion by 2027.
For this Interview, we invited, Gaurav Goel, Co-founder, and CEO of Toprankers, and we talked about the growth, challenges, insights, and future opportunities in the ed-tech industry.
StartupTalky: Gaurav, what does your company do? What was the motivation/vision with which you started?
Gaurav: Toprankers is a Bhopal headquartered digital learning platform that enables students to prepare for unconventional careers via holistic guidance and support. The platform offers simulated tests and comprehensive study materials for all candidates appearing for examinations in the field of law, management, design, and other prominent verticals.
Incepted in 2016, Toprankers today is the country’s most preferred digital counseling & preparation platform for careers beyond engineering & medicine. The vision behind the initiative was to provide students with end-to-end assistance in their journey of new-age career courses. To date, Toprankers has successfully enabled more than 3 lakh students to pursue and thrive in the careers of their choice.
StartupTalky: What is/are the USPs of your products?
Gaurav: Our extensive portfolio of career products and services is strategically framed to address the end-to-end requirements of students who are opting for unconventional career options. Be it our hybrid learning model or virtual parent-teacher meetings, we leave no stone unturned to ensure an inclusive learning experience for students. We also boast a team of highly proficient and experienced teachers who excel in passing on their comprehensive knowledge to students in an engaging way.
StartupTalky: How has the ed-tech industry changed in recent years, and how has your company adapted to these changes?
Gaurav: The digital learning space has witnessed a substantial transformation after the advent of the Covid-19 pandemic. With schools being shut for more than a year, the pandemic resulted in a multifold growth of digital learning in India and also compelled students, teachers, and parents, to learn about numerous digital tools and adapt to a remote learning environment.
While the offline mode of learning is back in the post-Covid-era, the digital learning space has permanently changed the education landscape in the last couple of years. Toprankers in this regard has unveiled hybrid classrooms for students to help them leverage the best of both online and offline modes of learning.
Besides offering state-of-the-art career products and services, we have adopted a 360-degree approach to mentor our students to help them reach the pinnacle of success.
StartupTalky: How do you stay up to date on the latest trends and developments in the ed-tech industry?
Gaurav: For this, our highly experienced and dedicated team ensures that it stays in constant touch with our esteemed customers for their suggestions. We also lay emphasis on understanding the evolving requirements of students and parents and the changing dynamics of the education segment in India.
Furthermore, we regularly participate in education-oriented events across the country and network with industry veterans to garner a detailed understanding of the latest trends.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Gaurav: To assess the development and performance of our organization, we keep a consistent check on our revenue, growth in the number of students, and the performance of students in prominent, non-conventional tests among others. We also regularly gauge the performance of all our employees and make necessary course corrections to mitigate any bottlenecks.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Gaurav: The year 2022 has been an inspiration for us. A noteworthy accomplishment for us was to raise a Series A round of funding of $4 million with a renowned VC firm ”Sixth Sense Ventures” which augmented our growth initiatives.
However, for the startup ecosystem as a whole, this year has been a bumpy ride and we too witnessed our fair share of challenges. However, we firmly focused on finding the best solutions for those challenges which enabled us to mitigate them and continue with our success journey.
Here are some challenges that we struggled with in 2022:
Transitioning from online learning segment to hybrid solutions.
To ensure a quality learning experience for students in the ever-evolving education sector.
Since we are headquartered in a tier 2 city like Bhopal, finding and absorbing the right talent also came as a significant challenge for us.
Another major challenge that we witnessed in the year was creating awareness about non-conventional career options like Law, Management, and Design. These disciplines have low acceptance in India and overcoming the mindset toward deeply rooted domain subjects was the biggest hurdle
Lastly, ensuring encouraging growth in this competitive and dynamic market is a challenge in itself.
We resolved these challenges by taking necessary course corrections and accomplishing the following milestones:
We successfully registered more than five million users and secured a Series A funding of $4 million from the renowned investment firm ”Sixth Sense Ventures.”
We also expanded our presence and now boast more than 300 employees across the country of which 48 percent are females.
Students of LegalEdge by Toprankers have achieved top ranks including AIR 1, 2,3,8, and 10 for the CLAT UG exam. Bhopal-based student Piyush Gupta, AIR 8 secured Rank 1 in Madhya Pradesh while our students also outperformed in the recently conducted AILET 2023 exam securing top ranks including AIR 1,2,9 for the AILET UG exam and AIR 8,9,15 for the AILET PG exam.
Due to the unprecedented dedication of our team, we garnered exceptional results across all brands. For instance, 12 students qualified in Rajasthan Judicial Services (RJS) in 2022 from our brand Judiciary Gold.
For Creative Edge, one of our students bagged the highest rank in Madhya Pradesh in JEE B.Arch Exam 2022 and emerged as the regional topper for the state of Madhya Pradesh with a 99.96% percentile.
Over the years we have been successful in preparing 3 lakh candidates for modern careers.
Recently a substantial number of students (50+) from our platform secured more than 250 marks in the CUET PG examination.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Gaurav: We at Toprankers have forayed into new domains with our hybrid learning model known as Toprankers Classrooms from where we offer a hybrid mode of learning to students.
We have significantly invested in a high-touch model of learning and are focussing on enhancing student success & mentoring teams. We are also leveraging virtual parent-teacher meetings, boot camps, and much more to boost the confidence of our students and their parents in the online learning domain.
Toprankers ranks among one of the few Edtech companies in the country whose students boast of AIR 1,2,3 in prominent competitive exams in fields such as law, management, etc. Furthermore, our proficient marketing team consistently works on fortifying this position of trust with effective communication and building communities with social media.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Gaurav: As per the All India Survey on Higher Education (AISHE) 2019-20, released by the Union Ministry of Education, popular undergraduate-level programs like BTech (Bachelor of Technology) and BE (Bachelor of Engineering) have noticed a drop of 13.32 percent in enrolments in the last few years. The drop in enrolments is more substantial in postgraduate level programs like MTech, with 33.68 percent of students pulling out of the course.
The survey also demonstrated that about 93.49 lakh students are registered in arts courses at the country’s undergraduate level, making it the most popular course against the science stream.
This indicates that in the coming years, non-conventional career options like Law, Management and Design will witness rapid acceptance across India.
Talking about the digital learning segment, unlike conventional pedagogy, technology has allowed students to have a unique learning approach, including animations and experiential learning.
The rapid integration of technological applications in the educational sector will make learning more collaborative in the coming times while making students focus on the core of the online content delivered to them. With this, It wouldnât be an exaggeration to say that digital learning is the future of education.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
Gaurav: Some of the primary learnings that we gained from the last year include:
Strengthening our student-first approach and including their valuable suggestions in our decision-making.
Enhancing consumer engagement with a student-first approach.
Upgrading our technological infrastructure.
Finding the right marketing mix to amplify our reach & consumer engagement.
In the coming times, we will emphasize these learnings for robust growth and transformation of the digital learning space in India.
StartupTalky: How do you plan to expand the Customers, product, and team base in the future?
Gaurav: As learning today is not restricted to physical classrooms, we will deploy a 360-degree approach to educating students including career guidance, end-to-end assistance, personalized learning experiences, and much more in the coming times. To achieve this, our team will take the following initiatives:
Strengthen the presence of Toprankers’ Classrooms across the country by delivering hybrid learning solutions and maximizing our reach.
Developing strategic and effective career products to enhance the success rate of students.
Strengthening our position as an Edtech with outstanding results for the prominent CUET which will play a leading role in transforming the Indian education landscape. In our first endeavor itself, we have delivered over 50 toppers in this test and will continue to reinforce our position in the coming years.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship.
Gaurav: For students and individuals who wish to embark on the journey of entrepreneurship, we would recommend the following:
Be more resilient
Make data your priority
Don’t doubt yourself
Comprehensively understand the customer and the market segment
Pick a niche
We thank GauravGoelfor spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
A digital marketing and design agency is a company that specializes in providing marketing and design services to clients in the digital space. These agencies offer a range of services, including website design and development, search engine optimization (SEO), social media marketing, email marketing, and digital advertising.
The goal of a digital marketing and design agency is to help clients build and maintain a strong online presence, increase brand awareness, and drive more traffic and conversions to their website. They use various digital marketing strategies and techniques to reach and engage with their target audience and achieve the desired outcomes for their clients.
According to MarketsandMarkets, the global digital marketing and design agency market was valued at USD 48.7 billion in 2020 and is expected to grow at a CAGR of 14.0% until 2026, reaching a value of USD 97.9 billion by the end of the forecast period.
For this Interview, we invited, Shiraz Khan, Founder Director of Spicetree Design Agency (SDA), and we talked about the growth, challenges, insights, and future opportunities in the Digital Marketing industry.
StartupTalky: What service does your company provide? What was the motivation/vision with which you started?
The company provides various marketing and design services across digital, online, and print media platforms. The gamut of services includes website design and development, conceptualizing and designing print artwork, and digital marketing, which involves SMM, SMO, SEO, e-mailers, and retargeting.
The company was started with a vision to deploy a unique mix of creativity and advanced technologies to enhance the brand presence of every client business. Over the journey, SDA has been able to deliver on that front.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of your service?
Shiraz: In the post-pandemic scenario, the world of marketing and brand communications has undergone a sea change. There is a greater emphasis on engaging customers through content marketing, and we have accordingly expanded our capabilities and technologies in SEO, SMM, SEM, and various aspects of digital communications. The USP of SDAâs service is the excellent mix of creativity with advanced technologies that help us consistently create impactful branding campaigns for clients.
StartupTalky: How has the digital marketing industry changed in recent years, and how has your company adapted to these changes?
Shiraz: There has been an incredible shift in how digital marketing is approached, and we are witnessing greater tech sophistication and communication maturing. Old and pushy sales initiatives are now replaced by steady content-driven campaigns that engage the customers and sustain their interest.
Marketing is no longer a standalone function related to creating ads but a collaborative effort with the clients. We focus on understanding their business, USPs, products, and services and use our creative and technical expertise to help the brands grow. We have also introduced relevant services and tools from time to time.
For instance, now there is a greater focus on effective communication through various formats of creativity (Audio, Video, Animation) and marketing automation and we are helping our clients with that.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the digital marketing industry?
Shiraz: Our industry is highly dynamic, and as we work hands-on daily with the clients, we also keep an eye on the global players. Technological innovations, creativity, and changing customer sentiments are all routinely observed, and we keep testing ourselves with the best practices to ensure that we are constantly updated and competent enough to support our clients.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Shiraz: We check our companyâs growth and performance via two metrics, internal and external stakeholders. Internal stakeholders for us are our team; if we have managed to retain the right talent and acquire the right talent and keep them motivated and happy, then we think we are doing well internally. External is our relationship with our clients, vendors, and partners. We have been in this business for nearly a decade, and we have managed to retain almost 60% of our clients and, at the same time, onboard some big names. These two things help us understand that we are doing well and are on the right path.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Shiraz: Budgets and more than required interference in the creative process. Our scientific approach helped us reason it out with them to show them why they should spend the apt amount to expect the kind of results they have in their mind. And give us creative liberty, itâs evident that if they have a suggestion that makes more sense, it is most welcome, but if it does not, then we explain our bit to push our ideas through.
StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that your clients are happy?
Shiraz: The definition of good service has changed over time; the client now feels that good service means attending to their numerous calls, changing the creative as per their creative sensibilities, and matching their unreasonable timelines. We focus more on the outcome; if the bottom line is met, then clients take a back seat, and thatâs how we have managed to sail smoothly.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Shiraz: SDA is a premier multi-faceted marketing agency. We have been deploying a healthy mix of digital marketing tools, SEO, paid advertisements, print and digital media content, and video communication to promote our brand and client organizations.
The one growth hack that SDA has leveraged over the years is to ensure an optimum balance between technology and creativity. SDAâs core philosophy is to obtain factual creativity through a perfect blend of creative vision and scientific analytics. Most people believe that science and creativity are two different domains, but we have been able to use these in complete harmony to achieve a unique and previously unexplored manner.
StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?
Shiraz: For us, every client is equally important. Agencies indeed get greater creative freedom and economic opportunities with foreign clients, but our focus is on being the best in what we do. Our work speaks for itself, and we do get regular opportunities to work with Indian as well as foreign clients. We have expanded our operations in the US and Indian cities such as Chennai and Bangalore.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Shiraz: Apart from the regular Digital marketing tools for the marketing side of things, for our web, we use a wide range of technologies such as LAMP stack, HTML5, CSS3, SCSS, JQuery, Angular, and other web tools such as Bootstrap, WordPress, Code Ignitor, Shopify, Magneto and so on. Further, SDA has its video animation and production team to create short films, motion graphics, stop motion, etc., which are a critical part of digital communication today.
StartupTalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Shiraz: India is adapting super-fast to all the global trends; we are moving hand in hand with agencies worldwide. There is so much outsourcing happening from overseas that is testimony to the fact that we have a grip over this game. The market behavior and the buying patterns of markets across cities and countries are different and must be dealt with differently. Here is where our expertise in having a scientific approach helps us understand the TG more effectively. We do not try to please the client but always prefer to look at the result.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
Shiraz: We have learned to become more flexible and stride forward with confidence. Bucking the slowdown trend, SDA managed to expand its domestic presence to Chennai and Bangalore, and we have also entered the US markets. Thus, this year has been great for the company, and we have added Indian and foreign clients and expanded our range of offerings.
StartupTalky: How do you plan to expand the Customers, service offering, and team base in the future?
Shiraz: We have plans to open more offices overseas and have appointed a team of consultants to help us take the franchise route to service more clients. As far as the internal team is concerned, we are looking for varied talents 365 days a year.
StartupTalky: One tip that you would like to share with another Service company founder?
Shiraz: Please refrain from falling prey to clients willing to pay peanuts and expect great results. Some donât even want to spend monies on paid promotions and expect magical results. The ones that pay less are the ones that expect the maximum. Interview the clients before onboarding them.
We thank ShirazKhanfor spending his valuable time and sharing his learnings with all of us.
StartupTalky presents Recap’22. This is a series of interviews in which we conduct in-depth discussions with founders & industry leaders to understand their growth in 2022 and their predictions for the future.
The rehabilitation industry encompasses a range of healthcare services aimed at helping individuals recover from injury, illness, or disability. This includes physical therapy, occupational therapy, speech therapy, and other related services. The industry includes hospitals, rehabilitation centers, clinics, and private practices.
The goal of rehabilitation is to restore an individual’s function and independence to the fullest extent possible and improve their quality of life. The rehabilitation industry continues to grow due to an aging population, increasing rates of chronic conditions, and advancements in medical technology.
In modern medical science, there are many traditional healthcare challenges, and as a result, many startups are working to improve medical processes through evidence-based solutions.
According to a recent market research report, the global rehabilitation market was valued at around $34.5 billion in 2020 and is expected to grow at a CAGR of 5.5% from 2021 to 2028. This growth can be attributed to factors such as the increasing prevalence of chronic diseases, the aging population, and advancements in medical technology.
For this Interview, we invited, Riday Nakhate, Managing Director and Founder of Kan Innovations, and we talked about the growth, challenges, insights, and future opportunities in the Rehabilitation industry.
StartupTalky: What does your company do? What was the motivation/vision with which you started?
Riday: Kan Innovations Pvt. Ltd. designs, develops, and manufactures technology-based solutions to help people live longer healthier, and more active lives. We launched a first-of-its-kind comprehensive solution called the OHM Series of plantar pressure systems that assesses balance, posture, and human biomechanics. Coupled with REGO, a gamified rehabilitation software, it also aids in rehabilitation for sports, ortho, neuro, and prosthetic patients. Our series of research-backed plantar pressure devices are used by Indian medical and paramedical professionals in a variety of sectors, including physiotherapy, orthopedics, diabetes, and prosthetics and orthotics.
The idea of Kan Innovations germinated while I was in the USA when I suffered from L4-L5 disc desiccation, a right knee meniscal tear, and a left knee cap dislocation. L4-L5 disc desiccation went misdiagnosed for two years which took away my freedom of mobility.
As a patient, I got introduced to the world of physiotherapy and worked on my rehabilitation to the point of pain relief. I assumed that everything would be fine from that point and began to ignore the last and most important part of rehab, âstrengtheningâ. After my right knee meniscus tear, I soon dislocated my left knee cap and the primary reason was that I had been overloading my left limb, due to the incomplete rehabilitation of my right limb.
It was at that moment, I realized the lack of evidence-based tools available for doctors to make return-to-play decisions as well as the lack of evidence to educate patients on their issues and their recovery. The personal incident inspired me to discover a solution so that others would not have to endure the same suffering. I believe our cutting-edge technology will transform healthcare by providing better results to patients and restoring their quality of life.
StartupTalky: What is/are the USP/s of your products?
Riday: That’s our niche; we have understood the gap, identified the need, and launched a complete Made in India product. What sets us apart from our competitors is our comprehensive offering where a practitioner can conduct assessment and rehabilitation on the same platform that suits all domains of practitioners: Physiotherapists, diabetologists, Prosthetists & Orthotist engineers, Orthopedics, etc.
StartupTalky: How has the rehabilitation industry changed in recent years, and how has your company adapted to these changes?
Riday: The rehabilitation industry has begun to evolve and focus on the integration of tech and evidence-based tools to treat patients and giving immediate biofeedback to patients has become supremely important. Patients have grown more conscious of their health and better educated about the gold-standard approaches available across the globe. Health tech businesses across the globe are also using AI and Big data learning to evolve their product offerings so that medical practitioners can deliver the best patient care. It’s important to remain connected with our customers and our potential customers. They are usually early adopters of technology and invest time in learning more about new technologies and methodologies in their respective spaces. As a young company, we are quite dynamic and constantly work on accommodating new approaches, thoughts, and ideas into our offerings.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the rehabilitation industry?
Riday: At Kan Innovations, we work very closely with our customers and our potential customers to identify the trends and requirements of the market. Our sales and marketing teams constantly bring in new requirements from customers that are discussed monthly and market research and clinical research are then initiated to further understand the business scope as well as the clinical value add for both doctor and patient. Our R&D and marketing teams are also constantly researching new technologies that are available globally.
StartupTalky: What key metrics do you track to check the company’s growth and performance?
Riday: Our primary objective is that our solutions are accessible to patients around India and that the technologies are being used effectively to drive better outcomes. Like most companies, we track sales of our systems but also offer several different business models. We track the number of installations around India and the number of tests that are conducted as well. We have also begun working on a strong educational campaign which includes, talks at colleges, workshops, and webinars. We also track these.
StartupTalky: What were the most significant challenges your company faced in the past year and how did you overcome them?
Riday: The primary challenge has been that this is a concept sale for most of our clients. Most of them don’t have a strong clinical understanding of the technology and what it can do for them. Also have not seen this in use, and they are hesitant about the financial outcomes of investing in a device like this. We have also begun working on a strong educational campaign which includes, talks at colleges, workshops, and webinars.
As a small startup working with a low-volume good, we have always struggled with finding the right production partner. Low-volume manufacturing in India is already very hard to establish and coupled with the high accuracy requirements, it makes it exceedingly hard to find the right partner who sees the same vision. We spent a lot of time on vendor development and have finally managed to set this up with strong Quality Control measures.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack which you pulled off.
Riday: We use a consultative approach to selling. Our sales personnel are trained to the depth that they can hold up clinical conversations with all kinds of doctors and are also trained in understanding the clinics/hospital requirements to provide them with a proposal on how they can better their ROI from their potential investment.
This coupled with a series of educational webinars and workshops allows customers to gain the confidence to adopt the technology in their own practices. We share regular pieces of content that current customers as well as potential customers can learn on a regular basis. We also use traditional approaches like tradeshows and seminars to generate new leads and interest. We also have a strong distributor and dealer setup that helps generate new leads.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Riday: We use multiple software and platforms for our smooth functioning:
Startuptalky: What opportunities do you see for future growth in your industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Riday: The diagnostic sector is rapidly expanding in India, and there will be plenty of opportunities. Now that the medical fraternity is implementing evidence-based practice, the demand for diagnostic devices & instruments stands omnipresent. According to the report, ~411 million individuals in India require rehab in some form.
To meet their requirements, infrastructure development, trained professionals, cutting-edge technology, and evaluation processes will be on the rise, keeping the health tech companies in a sweet spot. Vocal for local, made-in-India emotions are now taken seriously with the adoption of technology education is improving as a result of government incentives. With such the latest advances, the opportunities and future Medical Device Industry look brighter.
The west of India is relatively early adopters looking for both a clinical and business value add however real estate is usually the problem. The south is a lot more focused on research, whereas the north is focused on technologies for patient education.
StartupTalky: What lessons did your team learn in the past year and how will these inform your future plans and strategies?
Riday: The biggest lesson is that in India, in the medical space, it’s all about the in-person touch points. Constantly showing your face and remaining in touch with the contact brings yield.
We have also learned that conversion times are a lot slower and need to be sped up with education through strong well-planned workshops and webinars. We also realized that all clinicians have very different approaches. It’s important to listen and learn from every conversation and bring insights back to HQ. New concepts require flexibility in several domains. We intend to bring this flexibility in our pricing and business models, in training as well as in product development.
StartupTalky: How do you plan to expand the Customers, product, and team base in the future?
Riday: Education! Education! Education! For our customers. There is no other way but to constantly educate our practitioners. Busting the myths and helping them envision their practice of the future is our priority.
Product evolution is always to be derived from market insights with cyclic development for our current product line. New products like upper body gaming as well as an all-in-one diabetic foot lab are currently in development in partnership with some other startups doing some great stuff.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?
Riday: There is a big difference between starting a âDhandaâ and being an entrepreneur. If India is to be the next startup capital of the world, there must be constant innovation, whether it be a service or product. I have always believed in starting something, where you can create an impact because that mission and vision will continue to drive you even when things become difficult. Create LONG-TERM VALUE!
We thank Riday Nakhatefor spending his valuable time and sharing his learnings with all of us.
Pooja Uniyal
