StartupTalky

Tag: 📝Interviews

  • Inside Scoop: Gagan Anand of Scuzo Ice ‘O’ Magic Shares Insights on Franchise Business

    In India, the franchise business is experiencing significant growth, with the Indian franchise industry currently valued at around INR 800 billion. The industry is expected to grow at a rate of 30–35% per annum in the coming years. This growth is driven by increased franchise opportunities and a boost in consumer spending.

    To gain a deeper understanding of how a franchise business operates in India, we connected with Mr. Gagan Anand, Founder and Director of Scuzo Ice ‘O’ Magic. In this insightful conversation, Mr. Anand breaks down the dynamics of Scuzo’s franchise business, offering insights into how Scuzo is making its mark and providing us with a closer look at their unique position and strategy in this evolving business scenario.

    StartupTalky: Could you share a brief overview of Scuzo Ice ‘O’ Magic and its unique position in the dessert industry?

    Mr. Anand: Combining expertise with a commitment to innovation, Scuzo introduces a diverse range of delectable treats, capturing the essence of every child’s first love—ice candy.  It is the first live popsicle brand in India that offers an innovative live popsicle concept where customers can select their favorite fruit from an extensive range and witness the craft as their popsicle is prepared within minutes.

    Apart from popsicles, Scuzo offers premium products like gelatos, sorbets, milkshakes, sundaes, waffles, brownies, & many more. With a beautiful storefront for your Insta-worthy pictures, Scuzo specializes in providing healthy and natural desserts. It is an absolute one-stop dessert solution for the sweet tooth of all our customers, as it is also 100% vegetarian and guilt-free.

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    StartupTalky: What is the process for someone interested in buying a Scuzo Ice ‘O’ Magic franchise?

    Mr. Anand: For individuals looking to invest in a Scuzo Ice ‘O’ Magic franchise, the initial point of contact is our Business Development team. The executive presents the business proposal to them and helps finalise a suitable model amongst the different business models we offer. Initial contact with the executive can be made by directly putting a franchise query on the official site of the brand.

    StartupTalky: Are there specific criteria or qualifications that potential franchisees need to meet?

    Mr. Anand: Criteria or qualifications that the potential franchisees need to meet include prior experience in the food and beverage industry. While not obligatory, Scuzo as a brand is enthusiastic about nurturing and collaborating with emerging entrepreneurs who share the same zeal and passion for the business.

    StartupTalky: For new franchisees in India, what growth or sales expectations can they reasonably anticipate in the initial years of operating a Scuzo franchise?

    Mr. Anand: For our new brand partners in India, reasonable growth and sales expectations that they may anticipate in the initial years of operating a Scuzo franchise amount to an average of INR 3 lakhs per month, or close to INR 40 lakhs annually.

    StartupTalky: How do you assess the growth potential for Scuzo franchises in different markets, especially for those considering locations in smaller towns?

    Mr. Anand: Assessing the growth potential for dessert cafe franchises in different markets, especially in smaller towns, involves a comprehensive analysis of various factors.

    Market research is a primary aspect and includes demographics, competition, etc. It is imperative to gain an understanding of the local population, age groups, and preferences. Analyzing existing dessert options in the local area and identifying where we have our strengths and weaknesses compared to our local competitors. Consumer behaviour plays an equally significant role. Identifying current trends related to dessert spending patterns of local customers to align pricing strategy with local affordability. There are many such factors that need to be taken into consideration that provide valuable insights.

    StartupTalky: What kind of support and training programs does Scuzo Ice ‘O’ Magic provide to its franchisees to ensure a successful start and ongoing operations?

    Mr. Anand: We provide 360-degree support to our franchisees. The brand’s pre-opening support commences with the identification of a suitable site that aligns with our criteria. The company aids franchisees in finding such locations and offers guidance for negotiating favorable leasing terms. Reviewing & monitoring the fabrication of the store, providing comprehensive training to all brand partners on store operations, accounting and inventory control, assistance in tie-up with local delivery partners, and assistance in getting all required licenses to operate the store in coordination with consultants, etc. come under the umbrella of support for the franchisees pre-opening.

    Post-opening, we provide training on SOP’s and brand policies. New product launches and implementation, inaugural discounts, loyalty programs, assistance with local promotion programs and media launches, tie-ups with local influencers, guidance with inventory control and administrative hurdles, and more are activities that the brand undertakes for the franchisees.

    StartupTalky: Can you outline the initial franchise fee and any ongoing royalties or fees that franchisees are required to pay?

    Mr. Anand: The initial franchise fee is INR 6 lakhs and a monthly royalty is 8% (6% is pure royalty and 2% is marketing levy) on net sales is what the franchisees are required to pay.

    StartupTalky: What are the typical operational costs associated with running a Scuzo franchise in India, including staffing, inventory, and other overhead expenses?

    Mr. Anand: Typical operational costs pertaining to running a Scuzo franchise in India, including the rental charge of the location, lie between the range of INR 30 thousand to INR 1 lakh, subject to the city, specific area, size of the shop, etc. Staff costs can range from INR 30 thousand to INR 50 thousand, depending on the franchise model and size of the shop. The cost of electricity and water might range between INR 12 and 15 thousand. Other additional expense charges related to operations might be estimated at around INR 10 thousand. Royalty charges of 6% on net sales. The cost of goods, including packaging, is approximately 32%.

    Apart from the above-mentioned expenses, 30% (25% commission + 18% GST on commission) will be the cost of all sales generated through online aggregators such as Swiggy, Zomato, etc.

    StartupTalky: How does Scuzo support franchisees in marketing and branding efforts? Are there centralized marketing initiatives or guidelines for local promotions?

    Mr. Anand: Yes, there are centralized marketing initiatives.The brand is directly responsible for social media and countrywide marketing for both the brand and the franchise store. Our strategies are designed to bring our brand partners the proper exposure across all online platforms. Marketing for local stores is carried out in collaboration with brand partners. The brand partners get guidelines based on their specific domains.

    The marketing initiatives are divided into three major subheadings: pre-opening, soft-launch, and post-opening, respectively. Pre-opening marketing is generally accomplished through social media platforms, using methods such as targeted postings and teaser videos. Soft and grand launch events are prepared and carried out via newspaper inserts, pamphlets, local food blogger visits, celebrity guest visits, radio station tie-ups, and so on. Post-launch strategies include newspaper inserts, samples, blogger activity, and inauguration incentives, among many more.

    StartupTalky: How is the supply chain managed for franchisees? Are there designated suppliers, and how does Scuzo ensure quality and consistency in product offerings?

    Mr. Anand: Scuzo has a well-established supply chain that is entirely handled by the company. The brand meets all inventory requirements through a single point of contact, the Scuzo supply chain manager. This manager serves as a liaison between the brand and the brand partner. This is done to guarantee smooth operation throughout the order placement, payment, and shipment processes.

    We have year-round warehouses that keep our stock in order to assure quality and consistency in our product offerings. The brand is in charge of supplying raw materials and packaging. Local purchases are kept to a minimal minimum and include things like the store’s milk requirements, among other things.

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    StartupTalky: The company’s revenue for FY23 was INR 5.3 crore. Can you highlight key drivers and any unexpected challenges during this period?

    Mr. Anand: There were a myriad of challenges and key drivers during the period of FY23. Among these, prominent and recurring aspects included acceptance and awareness of a newer brand. There have been instances where the concept that we offer has been welcomed by the respective franchisees, but there remained an underlying sense of hesitation. Availability and feasibility of locations (considering increased rentals) were major concerns for certain locals, particularly in smaller cities.

    Adding to the above, there was the fact that many customers were unaware of the distinction between gelato and ice cream. One recurring element was potential franchisees’ misperceptions about our competition in the area. There are limits that come with being a self-funded, bootstrapped business. We were unable to prioritise certain areas for the same reason.

    But by approaching all of these obstacles with a deliberate, methodical, and focused approach, we were able to overcome them at their very core.

    StartupTalky: What measures are in place to achieve the targeted revenue for the upcoming year?

    Mr. Anand: We are expanding our market presence across various regions in India and internationally. We want to promote the Make in India concept by highlighting Indian flavors and expertise abroad. Our goal is to tap into the global market and offer a unique culinary experience that reflects the rich cultural heritage of India.

    We are developing our own delivery platform, including an app, to facilitate direct ordering and delivery. While we may collaborate with platforms like Zomato and Swiggy, we want to have our own reliable delivery system to ensure efficient and cost-effective operations.

    Also, we will be opening around 10 cloud kitchen locations in Delhi/NCR simultaneously to cater to these areas. With such wide coverage, we can also consider delivering to places slightly outside our designated delivery areas, as long as it is feasible. Our goal is to ensure that customers receive their orders promptly, and we aim to deliver within 24 hours from the time the order is placed.

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  • Jason Teoh Kheng Swee Discusses Navigating Regulatory Compliance Across Traditional and Digital Platforms

    In an exclusive interview with StartupTalky, Jason Teoh Kheng Swee, Chief Compliance Officer, Revenue Group Berhad, discusses his extensive professional journey, focusing on his expertise in navigating and implementing regulatory compliance measures across traditional and digital platforms. Emphasizing his commitment to prioritizing user experience, Jason shares insights into seamlessly integrating regulatory frameworks into operational strategies.

    The interview highlights Jason’s proactive approach to staying current with evolving digital regulations and showcases his adaptability in responding to dynamic industry landscapes.

    StartupTalky: Jason, could you provide a concise overview of your professional journey? What motivates your daily routines?

    Jason: My professional journey commenced in the retail sector before transitioning into broadcast media, specifically in finance and procurement for the satellite TV company Astro in Malaysia. Subsequently, I entered the private firm sector as a finance manager before contributing over 13 years to the banking industry. Throughout my career, I gained significant exposure to the consumer business, fostering a profound understanding of consumer behavior. This diverse exposure distinguishes me from many compliance officers in financial institutions, as it broadens comprehension beyond the banking realm, thereby enhancing the customer journey experience.

    The motivation driving my commitment to governance is rooted in our substantial contributions to the systemic industry, safeguarding and prioritizing consumers’ best interests, all while recognizing the visibility of our actions to the general public we serve.

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    StartupTalky: With over twenty-five years of experience, can you outline key milestones in your path to success and share your guiding principles or success mantra?

    Jason: My path to success has been characterized by diverse industry exposure, enabling a customer-centric perspective that underscores the significance of the customer journey in all business activities. Profound comprehension of policies and regulations empowers me to integrate governance seamlessly into daily operations. A meticulous attention to detail, coupled with the ability to align business needs with regulatory governance, facilitates the mitigation of risks.

    My success mantra is centered on prioritizing sustainable and logical actions in all endeavors, consistently balancing business requirements and regulatory guidance with tenacity to drive success while effectively managing stakeholders.

    StartupTalky: Share insights into your leadership style. What unique guidelines or methodologies drive your team to success?

    Jason: My leadership approach is centered around consultative collaboration, design thinking, rational decision-making, and objectivity. I engage in collaborative decision-making processes, valuing diverse input, understanding user needs, generating multiple solutions, and pragmatically testing them to ascertain the most effective option.

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    StartupTalky: What advice do you have for emerging industry leaders, based on your experience? Also, could you share your future aspirations?

    Jason: Drawing from my professional journey, I advise budding industry leaders to prioritize humility as an essential quality. Humility involves maintaining modesty and a willingness to learn from anyone, irrespective of their status or position, preventing errors stemming from overconfidence or conceit. Additionally, fostering an open mind is crucial for progress, requiring receptivity to new ideas and perspectives while mitigating the influence of personal biases.

    As the future remains uncertain, I approach it with a flexible mindset, eager to embrace new opportunities and challenges while remaining true to my values as am fortunate to have had leaders that share similar sentiments and impeccable colleagues.

  • IIT Kanpur’s Prof. Tripathi Talks Air Quality Monitoring, IIT’s Low-Cost Project, Cloud Seeding Initiative

    India needs a better mechanism to monitor air quality to battle the current air pollution situation, said the Indian Institute of Kanpur’s Professor Sachchida Nand Tripathi from the Department of Sustainable Engineering.

    Prof. Tripathi–who also heads a special cell within the institute, the Center for Advanced Air Pollution Monitoring Technology said, “The center has developed a cost-effective mechanism for capturing real-time air quality. This mechanism is already in operation in Uttar Pradesh and Bihar.”

    At a time when the country has been suffering from the deterioration of air quality, Tripathi and his colleagues from the institute have also been offering innovative solutions to the government, such as cloud seeding.

    In an interview with StartupTalky, Tripathi tells us about the causes of air pollution, ways to tackle it, and probable solutions that can improve the quality of air in the country.

    Are you satisfied with the air quality monitoring happening right now?

    Prof. Tripathi: We need to have better monitoring of the ambient air quality. We have a diverse social and economic populace. Therefore, only having a certain number of government monitors would not help in effective air quality monitoring. Instead, we need more hyper-local air quality monitoring, which means that we augment the government-led monitoring with a sensor kind of technology that provides a lot more data at the hyper-local level. We also need to monitor sources in a better way, which will help in monitoring our interventions.

    How can the problem of stubble burning be addressed?

    Prof. Tripathi: Stubble-related burning fire counts have come down this year. This year, there is a 50% or more reduction in the number of fire counts compared with 2022, as per NASA data. For October, the reduction in fire counts in Punjab and Haryana was about 60%. For November 1–6, there was a reduction of 30–50%. It’s not that it’s totally stopped, but there is definitely a reduction. To some extent, fire-related emissions coming from Punjab and Haryana are aggravating the problem, but local emissions also cannot be totally excluded when you think about sources that are contributing to this extreme air pollution situation.

    What would you attribute the deterioration in air quality to?

    Prof. Tripathi: Haze is composed of particles, which are also called aerosols, of varying sizes and chemical compositions. Now, how these particles are emitted, what is their growth, the magnitude, and the physics and chemistry of their growth are also very critical to understanding the haze formation. So, there are three things contributing to pollution right now: You have local emissions; to a certain extent, of course, the regional emissions (from Punjab and Haryana) also contribute; there is meteorology, and then there is chemistry (of pollutants and gases in the air). Chemistry plays a very major role because, even if you observe post-November, many of these emissions still remain.

    What are the interventions at our disposal right now when we are facing this situation?

    Prof. Tripathi: We need to carry out the larger-level policy-led reforms that are basically transitioning to clean energy sources—clean transport, clean electricity, from biomass—to maybe something that does not generate greenhouse gases and pollution. We need to employ more clean energy resources in every sector where energy, transport, or mobility are involved.

    Has IIT Kanpur conducted trials of the artificial cloud seeding project? What are your conclusions?

    Prof. Tripathi: There were trials in Kanpur that were quite successful. We also tried to conduct trials over Delhi NCR, but because of certain clearances that could not be obtained in time, we didn’t do it. But now IIT Kanpur has an instrumented aircraft equipped with cloud seeding equipment, so it’s worth trying because, on a very large scale, sometimes this haze persists. There are very few solutions that will work at scale. Cloud seeding can only be done in the presence of cloud cover; cloud cover is now a prerequisite that accelerates the process of rain. This is worth trying, and it doesn’t hurt. At best, it can remove the smog.

    When will the Delhi government undertake cloud seeding?

    Prof. Tripathi: I think that would depend on the clouds. But first, the clouds need to form.

    What kind of R&D is taking place in aerosol engineering to improve poor air quality?

    Prof. Tripathi: We have developed more affordable, scalable technologies to sense aerosols and gases. Currently, we are working on developing sensors that are 50 times cheaper than the current government monitors. These sensors are indigenous. For the cost of one monitor, we can deploy 50 such sensors. As I speak, we are deploying 1,400 sensors in UP and Bihar that will have one sensor in every block of these two states. Data is coming in every five minutes. We are also working on quantifying sources of pollution. Once you get an idea of the sources, you can mitigate them, which helps in evaluating your interventions. Now, the conventional method of source contribution is very time-consuming and expensive. So we have developed a new technology called Real-Time Source Apportionment and we have a monitoring vehicle on the go, which gives us real-time, reasonably precise source contribution. We are currently doing that in Lucknow. We have just reached 700 days of data. So using sensor data, machine learning, and AI, we can provide source information in a cost-effective manner and in a very short time.

    Have you talked to any other governments about using these sensors for monitoring?

    Prof. Tripathi: We are working with both the UP and Bihar governments. The Delhi government has not reached out to us. They know what we are doing, but this hasn’t gone beyond that.

    How do you plan to take this technology forward?

    Prof. Tripathi: There’s already good interest shown by different private entities and philanthropic entities, which is why we were able to scale up to 1400 locations in UP and Bihar. But more participation from private entities will definitely help.

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  • iPiD’s Validate Solution Reshaping Payment Security & Fraud Prevention

    In an exclusive interaction with StartupTalky, Mr. Alain Raes, Founding Partner and Chief Commercial Officer of iPiD discussed iPiD’s Validate Solution and how it is addressing fraud and failed payments in the global payments industry, as well as its role in supporting emerging payment methods. Additionally, iPiD’s collaboration with fintech companies and strategies for adapting to regulatory changes and future competition were discussed, along with their commitment to developing new products and services focused on security and fraud prevention in the evolving payments landscape.

    How is iPiD’s payment addressing data platform Validate Solution helping to address the challenges of fraud and failed payments in the global payments industry?

    M.r Raes: iPiD’s payment addressing data platform, Validate, helps address the challenges of fraud and failed payments in the global payments industry by offering an advanced API solution that seamlessly integrates with domestic account validation schemes. With Validate, banks or payment providers can ensure payments reach the intended recipients every time. It does this by confirming payee names and bank account details in real-time, offering an essential tool in the battle against fraud and failed payments.

    How is iPiD’s technology supporting the development of new payment methods, such as instant payments and cryptocurrencies?

    Mr. Raes: iPiD’s technology supports emerging payment methods, including instant payments and cryptocurrencies. While it is worth noting that cryptocurrency itself is not considered a traditional payment method, iPiD’s Validate API solution can facilitate the integration of cryptocurrencies and enhance their utility in the payment ecosystem.

    In the context of instant payments, iPiD’s technology ensures the seamless validation of essential data points concerning the recipient, a critical requirement for real-time transactions. This verification process promotes the reliability and security of instant payments, helping to build trust among users and enabling these payment methods to thrive in an increasingly fast-paced financial landscape.

    When it comes to cryptocurrencies, iPiD’s Validate API solution can be integrated into the existing payment systems of service providers in the crypto space. This integration allows for the verification of crucial data points about the recipient of the cryptocurrency payment, contributing to the overall security and legitimacy of cryptocurrency transactions.

    How is iPiD working with other fintech companies to revolutionize the way global payments are made?

    Mr. Raes: iPiD is collaborating with various fintech companies to spearhead a revolution in the way global payments are conducted. The key strategy lies in the integration of the Validate API solution into the existing payment systems of these fintech firms.

    This integration is pivotal because it empowers these companies to validate essential data points about the payment’s recipient. By leveraging iPiD’s technology, any payment provider can enhance the accuracy and security of their transactions. iPiD’s cooperation with fintech companies is driving an evolution in global payments by ensuring that the fundamental data elements related to payment recipients are consistently validated. This innovation contributes to the overall enhancement of payment processes and security, ultimately reshaping the landscape of global payments.

    What are iPiD’s views on the latest regulatory developments in the payments industry, such as PSD2 and Open Banking?

    Mr. Raes: PSD2 and open banking regulations have been in existence for a significant period. One of the central principles of open banking is the requirement for participant consent, which underscores the importance of authorization in data sharing. More recent payment regulations are specifically targeted at safeguarding paying agents against the repercussions of the rapid evolution of real-time payments. These developments primarily address concerns related to misdirected payments and, significantly, the rise of APP Fraud.

    It is worth noting that these new regulations are focused on mandating account validation, a crucial aspect of payment security, which aligns with iPiD’s capabilities and support. iPiD is well-equipped to facilitate compliance with these regulations, providing a valuable solution to enhance payment security and protect against emerging payment risks.

    How is iPiD preparing for the future of global payments, which is likely to be characterized by increased competition from emerging players and new technologies?

    Mr. Raes: We have a distinctive approach. Instead of positioning itself as a direct payment provider, iPiD serves as an enabler for various payment platforms.

    iPiD’s primary focus is on enhancing the customer experience by offering a robust account validation mechanism. This mechanism operates independently of the payment rails, which means it can be seamlessly integrated into various payment systems and platforms. By facilitating account validation before the payment initiation process, iPiD plays a crucial role in fortifying the foundation of payment processes and, consequently, in improving the overall customer experience.

    This approach enables iPiD to adapt and thrive in the rapidly changing landscape of global payments, ensuring its relevance and effectiveness in a world characterized by increasing competition and the emergence of new technologies and players in the payment industry.

    What new products and services is iPiD developing to meet the needs of its customers in the future?

    Mr. Raes: To meet the evolving needs of its customers in the future, iPiD is actively working on the development of new products and services. Among the current initiatives, iPiD has introduced a second API designed to foster interoperability between domestic proxy payment schemes. This feature promotes smoother and more efficient payment interactions across different platforms, enhancing convenience and accessibility for customers.

    Additionally, iPiD is committed to expanding its service offerings by introducing more microservices. These microservices will play a pivotal role in enhancing security measures by strengthening defenses against fraud. As the payments landscape continues to evolve and face new challenges, iPiD’s dedication to innovation ensures that it can deliver the products and services that meet the ever-changing needs of its customers, particularly in the context of fraud prevention and payment security.

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  • Keventers’ Agastya Dalmia Shares the Brand’s Evolution and Impact on Indian Consumers

    In an exclusive interaction with StartupTalky, Mr. Agastya Dalmia, Director, Keventers, discussed how the iconic brand has evolved to meet the changing needs of Indian consumers, its impact on Indian society, and how it balances heritage with innovation.

    Mr. Dalmia is the visionary leader steering the ship of one of India’s most iconic brands. With a history that spans back to 1925, Keventers has held a special place in the hearts of countless Indians, and under Agastya’s guidance, the brand has continued to thrive and evolve. Agastya Dalmia’s dedication to preserving the brand’s heritage while embracing innovation has made Keventers a symbol of quality, authenticity, and progress in the world of beverages.

    How has your brand evolved over the years to meet the changing needs and aspirations of Indian consumers?

    Mr. Dalmia: We have continuously refined our offerings to cater to diverse tastes and preferences. From our classic milkshakes to newer, innovative flavors, we have strived to keep our menu both timeless and relevant. Some new and trendy flavors include Lotus Biscoff, Ferrero Rocher, etc.

    Over the years, we have enhanced our menu and introduced more product offerings, including Ice Cream, Thick Shakes, Iced Beverages, Smoothies, etc. Additionally, with our recent launch of “Value shakes” priced at Rs. 99, we have introduced something truly pocket-friendly for our audience!

    In response to modern tastes and the increased interest in and demand for vegan foods, we have launched our first-ever range of Vegan Scoops this year. It is a treat for people with dietary restrictions, including gluten or lactose intolerance and dairy allergies.

    What are ways in which your brand has shaped the way Indians live, work, and consume goods and services?

    Mr. Dalmia: As the iconic creator of milkshakes and India’s favorite milkshake brand, we have been setting trends in milkshakes since pre-independence! Our legacy, timeless milkshakes, and authentic bottle packaging have resonated with the audience for generations. As pioneers of the milkshake industry, we have made milkshakes a convenient go-to beverage for getting a delicious refreshment at any point throughout the day!

    Can you share some specific examples of how your brand has made a positive impact on Indian society?

    Mr. Dalmia: Heritage and Nostalgia: As a homegrown brand, we have a rich history that resonates with many. Established in 1925 by Edward Keventer, the brand has been a part of the Indian landscape for almost a century. Keventers invokes a sense of nostalgia among generations of Indians who have fond memories associated with its timeless milkshakes.

    Contributing to the Indian Army: Post-independence, we were the official dairy partner of the Indian Army.

    Introduction of Vegan Range: In response to the majority of Indians suffering from gastric ailments due to cow’s milk allergy and other health concerns, as well as the growing awareness of animal welfare and environmental issues, we launched an all-new Vegan Range consisting of Strawberry and Dark Chocolate Scoops.

    Charity: We have also participated in charitable activities and supported causes that matter to our society. Some examples from the past include a Consumer Social Responsibility initiative with The Robin Hood Army, wherein Keventers distributed milk to underprivileged children and women in Delhi and Noida and raised awareness about child malnutrition.

    During COVID-19, Keventers and the Amba Dalmia Foundation Trust raised more than INR 1 crore to provide critical care to COVID-19 patients.

    Job Creation: Over the years, Keventers has created numerous job opportunities in India, contributing to employment and economic growth. Our expansion into various cities and regions has furthered this positive impact.

    How do you balance the need to stay true to your brand’s heritage with the need to innovate and adapt to changing times?

    Mr. Dalmia: Keventers has a rich legacy dating back to 1925. In its early days, our brand symbolized quality, consistency, and a commitment to delivering a memorable taste experience. Fast forward to the present, we have evolved into a modern and dynamic brand while still retaining our core values of quality and authenticity. With a perfect blend of tradition and innovation, Keventers offers a diverse range of products, including milkshakes, sundaes, ice creams, and more.

    We have ensured that the core values and essence of Keventers remain intact. Our classic milkshakes, for instance, are still crafted using the same timeless recipes. They have stood the test of time and continue to be beloved by customers of all ages.

    The pure joy of sipping a Keventers milkshake should always remain a constant in our customers’ lives!

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  • BigHit Pioneering Talent Discovery in Indian Sports

    In a recent interaction Mr. Shaktie Prakash, the Founder and CEO of BigHit, and Mr. Vinit Kore, Co-founder and CBO of BigHit, shed light on their ambitious vision for transforming the Indian sports industry. During the conversation with StartupTalky, the founders shared insights into BigHit’s business model, its role in addressing industry challenges, and its impact on the Indian sports economy.

    Can you tell us more about BigHit’s business model and how it generates revenue?

    Mr. Prakash: BigHit initially began with the idea of creating a platform for all sportspeople to establish their identity. When I mention “identity,” I am referring to the fact that in various aspects of professional life, there is typically a platform that defines individuals and makes it easy for everyone to locate them. For instance, LinkedIn serves this purpose for careers.

    However, if we consider sportspeople, there is not a centralized source of information readily available for everyone to access. Much of the available information is either incomplete or scattered all over the place. This is where the concept of starting BigHit originated – to establish a platform that would provide sportspeople with an identity and make it effortless for everyone to learn about them. That is how BigHit began.

    Naturally, we went through various changes and pivots, expanding into numerous other areas, but the core idea remained centered on sportspeople. At present, we are a combination of an online platform and a strong physical presence in various sports-related activities.

    Mr. Kore: Our company is currently focused on two major sports: football and MMA. We see a growing interest in football in our country, and we believe it will continue to rise, both in terms of audience engagement and the emergence of young Indian talent on the international stage.

    To achieve this, we initiated a partnership with Bayern Munich, becoming the only Indian company with such a regional partnership. Our goal is to create opportunities for young Indian footballers to compete at the international level and get scouted not only for Bayern’s pro squad but also for global and Bundesliga clubs.

    Mr. Prakash: To put it simply, what we are doing, as you mentioned, is clarifying what Big Hit is all about. As I mentioned before, it is a platform designed for getting noticed and scouted. It serves as a hub for connecting with people. Just as you mentioned, it should be the primary destination for anyone seeking players or looking to scout talent.

    We have taken this concept even further in two sports by creating a scouting network, even in a physical format. This is where our partnerships with Bayern Munich, Bundesliga, and several other potential partnerships come into play. In short, we are on our way to becoming the equivalent of LinkedIn for the world of sports.

    Mr. Kore: To add to this point, we have also implemented a game management system within the application. Currently, we have approximately 22 primary partners in the Indian sports landscape, primarily national sporting federations. Many of these federations are still using manual pen-and-paper methods or third-party applications to manage their fixtures.

    What we have introduced in our application empowers these partners, federations, and associations to seamlessly host their state and national ranking events. Our platform handles player registration, weight category distribution, age category distribution, and gender categorization, all with just a click of a button, resulting in instant fixture generation. Real-time scoring is also available, allowing for updates and highlights.

    This functionality helps these federations create a lasting legacy. For example, if the MMA National Championships occurred last year, our application ensures that the consolidated information is readily available for future reference.

    Currently, we have a pipeline of sports, including MMA, weightlifting, and judo, all poised to adopt our application. Some have already begun, while others are in the process of incorporating our platform exclusively for hosting state-ranking and national-ranking events—the exclusive domain of the Wicked app.

    You mentioned having a mix of both on-ground and online activities. How do you differentiate yourself from your competitors, if there are any, in the Indian market?

    Mr. Prakash: We are operating in a rather niche space. When we consider direct competitors, to the best of our knowledge, there is not a company doing exactly what we do, not just in India but anywhere worldwide. In the space where we operate, there are several other sports applications. Most of them are streaming applications, but that is not our primary focus. In fact, we collaborate with some of these streaming applications to enhance the experience for our intellectual properties (IPs).

    However, when it comes to a company that is dedicated to building a comprehensive repository of all players in one place, we are not aware of any such entity.

    In a way, it can be described as a platform for connecting coaches, players, federations, and scouts. Could it be termed as the LinkedIn for sportspeople?

    Mr. Prakash:  Absolutely on point. So essentially, we are a platform for sportspeople, coaches, sponsors, and those in search of the best coaches. If, for example, you’re a talented footballer and I want my friend to undergo similar training, I can visit your profile, review your tournament history, assess your stats from various competitions, find out who your coach is, discover your past coaches, identify the clubs you’ve represented, determine your playing region, and even see the opponents you’ve faced. This kind of information provides me with a roadmap.

    When I see your profile and observe your impressive achievements, it makes me think that there is something special about your training methods or the club you are a part of. I might want to emulate your journey, much like how I use LinkedIn to examine people’s qualifications and the courses they have taken, helping me decide if I want to follow a similar path or not.

    What do you believe are the biggest challenges facing the sports industry today, and how is BigHit helping to address these challenges? You mentioned that this platform facilitates connections, scouting, and access to various tutorials and sessions. How does it tackle the challenges existing in the sports industry?

    Mr. Prakash: The most significant issue in the sports industry, particularly in India, is the absence of a well-defined pathway. If you are a player not involved in cricket, your career options often appear limited, with many eventually pursuing government positions. The likelihood of getting noticed by a sponsor or achieving top-tier success in your sport is exceedingly slim. I am not suggesting that opportunities are entirely absent; indeed, organizations like General Sports and JSW are doing exceptional work. They have initiated a foundation that is engaged in remarkable initiatives. However, many individuals remain unaware of these initiatives and how to access them.

    Furthermore, these foundations typically have a localized physical presence, which confines their outreach to specific geographical areas. Conversely, our approach is that if I am situated in Mumbai and identify a promising talent in a remote village of Odisha, it would be logical for me to conduct a more comprehensive assessment. However, without a platform for initial discovery, the prospects of formulating a development roadmap for such talent are virtually nonexistent.

    Our efforts are geared towards complementing the ongoing initiatives within this field. Our objective is to collaborate with and consolidate all these initiatives onto a single platform, enhancing their overall effectiveness. So, essentially, our mission revolves around addressing the challenge of talent discovery. That is our primary aim, in a nutshell.

    Since you mentioned the discovery of talent, could you share some of the most successful stories of players, coaches, clubs, and federations that have used the BigHit app? For instance, you mentioned Bayern Munich and players who reached the pro division. Do you have any more success stories to share with us?

    Mr. Prakash: We are a relatively young company, having been in operation for just one and a half years. We opened to the public about six months ago. Currently, our standout success story centers around what Vinit mentioned—the Bayern Youth Cup. Despite being a startup and operating on a bootstrap budget, we have achieved the remarkable status of becoming a regional partner for FC Bayern Munich, a globally renowned top-tier club.

    Additionally, we organized an under-16 youth tournament that spanned across India, involving ten states, and attracting over 15,000 athletes. This effectively made it one of the largest tournaments, not just in India but potentially in all of Asia. The Bayern Youth Cup, which is the world’s most significant global tournament for the under-16 category, typically has a combined strength from the rest of the world that is less than what we achieved in India.

    The tournament saw the participation of 16 teams and 250 players. We successfully scouted ten players for further opportunities. In this endeavor, we had the presence of Bayern scouts, Bayern legends, and Bayern officials in Goa. They worked in collaboration with our head scout, an ex-footballer from the Indian football team, who is also a Padma Shri awardee and an Arjuna awardee.

    Collectively, we identified ten talented youngsters, not necessarily from the winning team, and are in the process of forming them into a cohesive unit. We will provide them with specialized training and take them to Munich, where they will have the chance to showcase their skills in front of scouts from Bayern and other neighboring clubs. They will be competing against teams from about eight or nine other countries, a level of exposure that is truly remarkable, especially at the under-16 level.

    While it may not yet qualify as a full-fledged success story, I see it as a significant initial step toward achieving our broader objectives. It serves as a foundational achievement from which we can continue to build and grow.

    What are your growth plans for BigHit? How do you plan to scale up and reach more users?

    Mr. Prakash: So, as we mentioned, our core focus is on two sports, football, and MMA. However, we have also partnered with over 21 federations, including not only football associations but also ones like underwater swimming. We collaborate with various NGOs dedicated to grassroots development. We are working towards promoting grassroots sports in conjunction with the Sports Authority of India. We had the opportunity to meet with the Honorable Sports Minister, Mr. Anurag Thakur, to share our ideas, and he expressed excitement about our initiatives. We have been in discussions with the Sports Ministry for some time now, exploring opportunities for collaboration.

    As I mentioned earlier, Bayern Munich is our regional partner, and we are in the process of establishing several other regional partnerships. We are also working on multiple IPs related to football to provide our young talents with greater exposure at an early stage. This approach not only includes offering a digital scouting platform but also creating opportunities for talented kids from all over India to participate in live events watched by top scouts. This, we believe, is the direction we are heading.

    As for expanding our user base, we believe it should occur organically. Our primary focus is on achieving the goals we have set, and we anticipate that user growth will naturally follow. Our emphasis lies in delivering our intended objectives rather than solely focusing on increasing user numbers.

    How do you envision BigHit impacting the Indian sports economy and the lives of Indian sportspeople in the next few years?

    Mr. Kore: For now, we are thoroughly enjoying our participation in the Asian Games, securing a substantial number of medals. However, when you compare this to the Olympics, India, with a population of approximately 1.4 billion, currently holds around 35 medals. It is not because we lack talented athletes; in fact, we have an abundance of talent. The issue lies in the recognition of these athletes at a young age. Our aim is to foster this recognition from a very early stage to cultivate more athletes. The overarching goal is to transform India into the world’s premier sporting nation.

    We have witnessed an enormous amount of talent emerging in sports like football from regions such as Odisha, Jharkhand, and Manipur. Their potential often surpasses that of athletes from metropolitan cities. Our objective is to identify and scout this talent from a tender age and provide them with a platform. A critical aspect here is creating an endgame. In India, even if a young athlete achieves success, such as winning the Subroto Cup in football, there’s often no clear path for what comes next. Our focus is on establishing endgame opportunities in certain sports, leading to success stories. Once we have heroes like Kapil Dev did for Cricket in India or as Neeraj Chopra recently did for Javelin, the entire population will embrace these sports, resulting in more heroes emerging in those domains. The ultimate vision is to create heroes in specific sports and propel India to become a more accomplished sporting nation. That is the essence of our vision.

    Mr. Prakash: To complement your question, let us delve into how we aim to impact the sports economy. Essentially, our goal is to expand the market, much like what the Indian Premier League (IPL) did for cricket. I believe that a couple of Intellectual Properties (IPs) will have a similar transformative effect on football. When you establish an IP of this magnitude, it opens up numerous avenues.

    Before the IPL, you had eleven players representing the Indian cricket team. Now, we have ten teams in the IPL, each with a squad of 26 or 27 players, significantly boosting the demand for cricketers. Moreover, the IPL has become a massive source of entertainment. Beyond the players, you also need stadiums, event management personnel, cameramen, and various other professionals to orchestrate the spectacle. You create an entirely new industry that did not exist a decade and a half ago.

    Our approach is akin to this. We are expanding the sports market and generating IPs that not only have a significant economic impact but also create a plethora of job opportunities in and around the entire sporting ecosystem. This, I believe, is the contribution we can make.

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  • Credgenics CEO Rishabh Goel Talks Tech Revolution in Debt Collection

    In a rapidly evolving financial landscape, the debt collection industry in India faces unique challenges and opportunities. Historically characterized by manual processes and a lack of comprehensive regulations, debt resolution in the country has been ripe for transformation. Rishabh Goel, Co-founder, and CEO of Credgenics, sheds light on how his company is leveraging cutting-edge technology to revolutionize debt collection practices, reduce non-performing loans, and drive efficiency in this exclusive interaction with StartupTalky.

    StartupTalky: What are the biggest challenges facing the debt collection industry in India today?

    Mr. Goel: Historically, debt resolution practices in India have remained overlooked and disregarded for several reasons. Despite modern technology adoption propelling various facets of the banking industry forward, this particular area has lagged behind in modernization. It is commonly perceived as a back-end operation driven by manual efforts, utilizing bulk strategies, operating with isolated expert teams, and lacking an integrated approach. The available technological solutions have followed a disjointed and piecemeal approach, failing to address the broader industry-wide goals. Additionally, there exists a cultural barrier surrounding debt collections, as society tends to shy away from openly acknowledging and discussing financial challenges. Debt and financial difficulties are often considered private matters, and seeking professional assistance for debt resolution can sometimes be viewed as a sign of inadequacy or failure.

    Until recent years, the debt resolution industry lacked comprehensive regulations and oversight. This absence of oversight led to borrower concerns and unethical practices being adopted by some service providers, further tarnishing the sector’s reputation and public perception.

    StartupTalky: How is Credgenics using technology to revolutionize the debt collection industry in India?

    Mr. Goel: Credgenics is a pioneer in embracing AI and ML capabilities and the power of digital to create new-age technology solutions for the debt collections industry. The insights from ML models in the Credgenics platform provide actionable insights on borrower segmentation, behavioral patterns, risk-based strategy, and the efficacy of digital engagements by analyzing past data. This helps equip the collections teams with the right input for making informed decisions, making the collections process more efficient, personalized, humane, and productive. With tailor-made automated communications across multiple channels, on-demand scale-up capabilities, and adopting human-like interactions through multilingual bots, the collections processes are becoming faster, more transparent, customer-centric, and modern.

    Credgenics has ensured that lenders’ debt collection processes align with both rapidly evolving business needs and regulatory frameworks. With extensive controls in place, lenders can monitor and track compliance and adherence to business practices easily.

    Credgenics will continue to leverage the latest technological developments to provide its customers with the most effective collections management solutions, ensuring strict compliance with rapidly evolving regulatory requirements, and enhancing customer experiences and engagements during the collections phase.

    StartupTalky: What are the key benefits of Credgenics’ platform for lenders and borrowers? How is Credgenics helping lenders reduce their non-performing loans (NPLs)?

    Mr Goel: The future of collections is digital-first and data-driven. Over the past decade, the financial services sector has evolved tremendously, thanks to developments such as wider access to smartphones, deep internet penetration, simpler digital payments, seamless data sharing, focus on financial inclusion initiatives, and the rapid rise of FinTechs. There is a need to align strategies in light of these developments and transform the collections processes overall. Debt collections is a crucial area, that has lagged in the transformation curve, and Credgenics is facilitating that change.

    Credgenics has created an enormous impact on the lending ecosystem through its state-of-the-art integrated collections technology platform, which allows lenders to digitize and manage their end-to-end recovery workflow – including communications, strategy, field operations, litigation, billing, payments, and reconciliation – from pre-due stages to various delinquency buckets and field collections to legal stages. Our SaaS-based specialized technology platform and data-driven approach have enabled us to reimagine these processes for lenders and help them get future-ready when it comes to debt collections.

    Credgenics currently works with more than 100 customers and has managed an overall loan book worth USD 47 Billion in Financial Year 22. So far, the firm has managed 40 million retail loans overall and sends out 60 million digital communications every month. With Credgenics, lenders have increased resolution rates by 20%, improved collections by 25%, reduced collections costs by 40%, reduced collections time by 30%, and improved legal efficiencies by 60%.

    Collections processes of the future will be automated, digital, and will become a lot more touchless. A substantial portion of collections can easily happen via completely digital mode. Personalization and regionalization in strategies and relying on data-backed insights can make a lot of difference in the collection’s outcomes. Human efforts have proven to be much more effective when aligned with complex stages, while routine and repetitive tasks can be easily managed by machines. Machine Learning models are extremely useful in identifying gaps, improvement areas, and the impact of mitigation efforts over a period of time. Credgenics is using the latest technological capabilities to provide its customers with the most effective collections management solutions, help them with complete adherence to rapidly evolving compliance requirements, and enhance customer experiences and engagements during the collections phase.

    StartupTalky: What role do you see technology playing in the future of debt collection in India?

    Mr. Goel: As the debt collection industry evolves, technology is expected to play a crucial role in driving the entire narrative for reimagining debt collections. Lenders are beginning to realize the positive impact that this transformation can have on their businesses, and Credgenics is at the forefront of this change. With new lending business models gaining ground, digital loans rising in demand, and instant loan approvals being preferred, debt collections for such loans require a modern approach backed by robust technology. Our proprietary tech tools and data-driven approach have enabled us to create an effective communication channel with borrowers, increasing loan recovery rates and reducing collection costs.

    In the future, collection processes will undergo significant automation and digitalization, aiming to minimize human involvement. We strongly believe that a substantial portion of collections can be efficiently conducted through digital channels, and the customization and fine-tuning of these processes can greatly impact the outcomes. Human efforts can be better directed toward complex stages, while routine tasks can be effectively managed by machines. The utilization of data-driven insights will play a crucial role in identifying areas for improvement, focusing on key aspects, and implementing mitigation strategies. Credgenics remains committed to harnessing the latest technological advancements to provide our clients with highly efficient collections management solutions. Our goal is to ensure strict compliance with rapidly evolving regulations while enhancing customer experiences and engagements throughout the collections process.

    StartupTalky: What are your top priorities for Credgenics in the next 12-24 months, and how do you plan to expand your business internationally?

    Mr. Goel: Over the next few months, we will continue to invest in adding new capabilities to our solutions based on the evolving business needs of our customers. We plan to expand our business operations in other countries in Southeast Asia, and we will be incorporating the regional requirements as well. We are also looking at solving the collections-focused challenges of related industry segments where strong synergies exist.

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  • Empowering Women Through Digital Innovation: Insights From Tanya Chaitanya, CEO of Her Circle

    In a world where content is king and women’s empowerment takes center stage, a digital platform that embodies both of these ideals with remarkable grace is Her Circle. Her Circle is more than just a digital movement. It is a dynamic force that has redefined the way women connect, learn, and thrive in India.

    Recently, at StartupTalky, we had the privilege of an insightful interaction with none other than Ms. Tanya Chaitanya, CEO of Her Circle, and Chief Content Officer of Digital and Diversity Initiatives at Reliance Industries Limited.

    Ms. Chaitanya shared valuable insights about Her Circle, shedding light on its vision, mission, and the impact it has had on women across the nation. Join us as we delve into this inspiring conversation and explore the journey of Her Circle.

    StartupTalky: Ms. Tanya Chaitanya, Can you tell us about what drives Her Circle and its mission for the women of India?

    Tanya: Her Circle is an inclusive, collaborative, diverse, interactive, socially-conscious digital movement for the women of India. We are her safe space for growth.

    StartupTalky: Can you briefly explain Her Circle’s platform, its content, language options, expert support, upskilling opportunities, and the significance of a women-only networking space?

    Tanya: Her Circle, founded by Mrs. Nita Mukesh Ambani, is designed as a one-stop destination to provide women-related content that is engaging and upliftment-oriented, even as it connects women to each other through a social platform. She can engage as she watches vibrant videos and reads articles with solution-oriented life strategies covering living, wellness, finance, work, personality development, community service, beauty, fashion, entertainment, creative self-expression, and active participation in public life through women-led NGOs and other organizations.

    Users can toggle between their language of choice—English and Hindi currently—by a simple language selection option. The Hindi content is unique and original, customized for the user.

    The platform provides women with answers from Reliance’s esteemed panel of experts on health, wellness, education, entrepreneurship, finance, philanthropy, mentorship, and leadership. The section on upskilling and jobs will help her find new professional skills as well as job opportunities suited to her profile. She can grow and learn through masterclasses from the best in the business or avail of complimentary digital courses.

    Private, Personalised, Safe: While the content, from videos to articles, is open to all, the social networking part of the platform is only for women. The social connect will provide her with a safe, women-only forum to make new friends with shared interests or ask questions from peers without hesitation. Her Circle also has an exclusive and personal space for women to ask questions to medical and finance experts in a confidential chatroom.

    StartupTalky: Can you provide insight into the diverse range of services and features that Her Circle offers to empower women and create a supportive community?

    Tanya: Our offerings are divided into 5 pillars

    1. Connect: A women-only social networking space with interconnected communities. Women can showcase their talent, speak out, and interact without hesitation.
    2. Engage: The “Engage” tab is where our content sits across all genres in the form of text-based stories, visual stories, and the most important element—videos.
    3. Grow: Job listings and upskilling opportunities through masterclasses and professional courses are available for her.
    4. Goals: Goals can be found to be the better version of yourself through our customized tracking systems that cover your diet and fitness, financial health, period and fertility tracking, and pregnancy guide.
    5. Help: Mental well-being sits at the core of this pillar as we listen to her and support her. “Ask the Expert” introduces her to a panel of medical specialists as well as finance/professional leads who take in and resolve her queries.

    StartupTalky: Ms. Tanya, what has been the most significant challenge in Her Circle’s journey, and how did you overcome it to achieve remarkable growth?

    Tanya: The pandemic has been the most challenging event for all of humankind.

    Our mindset impacting learning from the pandemic is that nothing is impossible.

    We are an unstoppable race, people who will find ways to work from home, from the hills, from the beaches. In fact, Her Circle, the platform was launched slam dunk in the middle of the pandemic on March 8, 2021, and while we thought not being able to do an on-ground launch would lead to smaller growth but within a year we have approximately 2 lakh registered women entrepreneurs. It’s largely due to the spirit of people to keep growing.

    And now as hybrid work models appear, we are adapting yet again. Most of us love being back in the office, enjoying the energy only a shared workspace can bring.

    StartupTalky: How is Her Circle currently performing, and what are the company’s future plans, especially in terms of sustainability, inclusion, and entrepreneurship?

    Tanya: Her Circle’s initiatives are across our key pillars – sustainability, inclusion and equity, entrepreneurship, and empowerment. Our initiative, Her Circle Bizruptors, is a platform for giving women startup founders and their ideas/ innovations/ products/ services a chance to be showcased. We intend to build a community of inspirational women entrepreneurs and winners.

    The sustainability initiatives we run cover the length and breadth of planet-friendly ideas. Our sustainability special meets women warriors who build circularity, promote environmental practices, and believe in being green citizens and parents. Kalki Koechlin, Kirti Poonia, and Rameshwari Seth have been some advocates of sustainability we have associated with.

    Our inclusion and equity initiative is the ongoing Her Circle EveryBODY Project, which has featured body-positive influencers such as Virali Modi, Neha Parulkar, Tanvi Geetha Ravishankar, Neelakshi Singh, Apeksha Dusija, Roma Maity, Apeksha Dusija, Pooja & Norah.

    StartupTalky: Ms. Tanya, What are some of Her Circle’s key achievements and the impact it has had on women, particularly in terms of reach and building a network of women?

    Tanya: India’s largest digital platform for women, Her Circle has reached more than 310 million women in 2022-23. In its second year, the platform has focused on building a network of women to create a space for impactful collaborations and connections. Through several social experiments, expert interactions, and stories of women who have battled insecurities and societal expectations to begin again, the platform has addressed the crucial need for women to show up for themselves.

    Overall Performance and Growth of Her Circle:

    • To celebrate Women’s Day and Her Circle’s first anniversary, we launched our first digital cover with founder Mrs Nita Mukesh Ambani.
    • We launched Her Circle Hindi in March 2022
    • To celebrate our Her Circle’s 2nd anniversary we launched the Her Circle EveryBODY Project which is a body-positive and inclusive movement.
    • Total Reach 310 million
    • Registered Users/Entrepreneurs – 2,25,000

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  • Lentra’s Ankur Handa Dives Deep into Digital Lending Trends and Challenges

    As the digital lending sector continues to witness remarkable growth and transformation, StartupTalky interacted with Mr. Ankur Handa, Co-Founder and President of Lentra, to discuss the challenges that the digital lending industry currently faces and how Lentra is actively addressing them. Mr. Handa also shed light on the key trends that are shaping the industry.

    Lentra, a prominent player in the digital lending arena, has been at the forefront of innovation, pioneering new strategies to maintain a competitive edge. From enhancing accessibility to ensuring data protection compliance, the interaction explored critical aspects of the industry’s growth and development.

    StartupTalky: Hello, I am Sayantan, and we are joined by Mr. Ankur Handa, Co-Founder and President of Lentra. Welcome to StartupTalky, Mr. Handa. How are you today?

    Mr. Handa: Very well, thank you so much for having me here.

    StartupTalky: It is a pleasure to have you here today. I am sure our audience is eager to learn more about Lentra and the digital lending market. Let us dive right in. What key trends do you see in the digital lending industry, and how is Lentra innovating to stay ahead?

    Mr. Handa: The lending technology landscape in India is undergoing significant transformation, particularly in the aftermath of the COVID-19 pandemic. One notable shift is the substantial growth in retail credit consumption, now surpassing commercial lending for the first time in history.

    What is most striking is the pluralism we see in our credit markets today. Credit is no longer limited to the salaried class or industrialists. It is now accessible to a diverse range of individuals, including street vendors, entrepreneurs, farmers, students, and homemakers. This expanded accessibility is largely attributed to initiatives like Jan Dhan Yojana, Aadhaar, and the widespread penetration of mobile internet. As we move towards a digitally connected world, this inclusivity becomes a significant equalizer for our diverse society.

    Another notable trend is the evolution of artificial intelligence (AI). AI is not only revolutionizing the way we assess creditworthiness but also changing the speed and scope of these assessments. It is enabling us to reach a broader customer base and customize services. One impactful application is leveraging business intelligence to address challenges related to accurately targeting potential customers. We are witnessing a shift towards a greater focus on “Government-to-Customer” (G2C) interactions, with initiatives like India Stack playing a pivotal role, particularly in sectors like agriculture and rural development.

    The decentralization of credit is another compelling trend. Initiatives like the Open Credit Enablement Network are standardizing the flow of credit among borrowers, lenders, and credit distributors. This move represents a democratization of financial services. As a certified TSP with Samadhi and Credit AI, Lentra leverages extensive cash flow data and a vast network of retailers to facilitate rapid underwriting.

    Additionally, co-lending is gaining traction, emphasizing customer-centricity and relationship management. There’s potential for non-banking financial companies (NBFCs) to collaborate with public sector banks, capitalizing on lower costs of funds to develop innovative business models.

    Lastly, the growing trend of “APIfication” is reshaping our industry. APIs (Application Programming Interfaces) are being integrated into various aspects of our operations. At Lentra, we have integrated our Lending APIs and Origination journeys with brands, OEMs, dealership chains, and merchant networks.

    StartupTalky: Thank you for sharing those trends, Mr. Handa. Now, moving on to challenges in the industry, what are the major challenges that the digital lending industry is currently grappling with, and how is Lentra tackling them?

    Mr Handa: One of the key challenges we face is accelerating our reach in a fast-growing market like India. We are not satisfied with a 7% growth rate; we aim for more. To achieve this, we need to revolutionize our digital distribution channels. Unlike in the past when we relied on physical branches, today, customers have numerous digital channels to access loan products.

    However, the challenge is tailoring these digital options to diverse customer segments. In rural areas, where a fancy website may not be practical, we need to use voice and other native digitization methods. For millennials and college students, a simple message or WhatsApp can complete the loan journey. Meanwhile, commercial lending to enterprises requires a different approach.

    The main challenge and opportunity lie in building robust digital distribution networks. Outside of that, as technology advances, security becomes a growing concern. With India’s growing economy, we anticipate a significant increase in security and fraud attacks by 2030. We must establish the right safeguards to protect our economy.

    In contrast, India excels in automation, insights, AI, collaboration with the ecosystem, and product innovation. These areas are not challenges but strengths for us, thanks to initiatives like India Stack. My focus is on addressing security and reimagining digital distribution as the top two long-term challenges.

    StartupTalky: All right. Since we have touched on distribution and security, so, my next questions revolve around these aspects. How is Lentra striving to enhance accessibility and inclusivity in digital lending, considering the diverse demographics? What strategies is Lentra employing in this regard?

    Mr. Handa: Our primary focus has been close collaboration with government initiatives. While terms like B2B and B2C are well-known, we have been forward-looking with a focus on G2C (Government-to-Customer). We have been early adopters of initiatives like Aadhaar, the Greater India Stack, eSign, and eKYC on our lending platform.

    We have also played a role in creating unique products. For example, we worked with a large bank to enable agricultural products like cattle finance loans and Kisan credit cards in just 90 days, benefiting rural farmers in Gujarat.

    There is a lot of innovation happening in response to government initiatives. The Account Aggregator, ONDC, OCEN, GeM Sahay, and related products are contributing to financial inclusion.

    Financial inclusion has come a long way. Credit card spending and personal loans are at all-time highs. However, we must ensure the sustainability of this credit growth and responsible lending practices. As a technology provider, we aim to support banks in lending responsibly to avoid repeating past mistakes, such as the 2007 crisis. The current NPA levels are at an all-time low of 3.9%, reflecting cleaner books.

    Financial inclusion is already happening, with a focus on retail products in both public and private sector banks. As a digital lending enabler, we are committed to creating new product offerings while maintaining sustainable models and robust underwriting, even when using alternate data and algorithms. Our goal is to avoid artificial growth bubbles.

    StartupTalky: Thank you for your insights, Mr. Handa. Now, moving on to data protection and security, considering the recent Digital Personal Data Protection Act, 2023, are there additional steps that Lentra needs to take to ensure compliance with the regulation once it is implemented?

    Mr. Handa: The key highlights from the Personal Data Protection Act are significant. The most notable aspect is the potential financial penalties, which can go up to 250 crore rupees for each instance of non-compliance. Data processing agreements are mandatory before outsourcing activities to third parties, even for Lentra, requiring scrutiny before using a solution.

    The Act also emphasizes periodic data protection impact assessments, mandatory for significant data fiduciaries. The impact assessment focuses on data, application, and infrastructure security, which must be designed for future challenges, not just current ones. India’s growing ecosystem means security threats will also increase.

    Details regarding the Act’s implementation may need clarification, likely after the establishment of the Data Protection Board of India, as outlined in the law. Lentra is actively discussing interpretations with banks and their risk teams.

    We have taken proactive steps to structure and process consent-based personal data sets for future adaptability. Data storage, encryption, and retention strategies will need reassessment and reimagination. This is an iterative but mandatory process to ensure data security for all Indians.

    Security is fundamental for Lentra, with compliance to ISO 27001, ISO 27018, ISO 22301, SOC 1, SOC 2, SOC 3, and AES 256-bit encryption already in place. As we gain more clarity, we will further reinforce and adapt these processes to the evolving ecosystem.

    StartupTalky: Since you mentioned the need for further clarification on government policies, especially regarding the Data Protection Act, do you have any specific recommendations for government policies that could better support the growth of Indian startups in general?

    Mr. Handa: Absolutely, there is more to be done. India has made significant strides in digital finance and payments, with UPI being a headline story. The scale, speed, and unit economics have amazed the world, and India is at the forefront of the fourth industrial revolution.

    The government can play a crucial role in two ways. Firstly, it can further accelerate the positive momentum within India. Secondly, it can help Indian companies, like ours, take their products to the global stage. Initiatives like expanding UPI to other countries are promising.

    As a private player, we are eager to take the Indian success story worldwide, but we need a conducive environment. Events like the G20 have been instrumental in promoting the Indian narrative on a global scale.

    On the home front, credit needs to be integrated into daily life. The government can encourage this by creating frameworks that enable affordability aspects of lending in various sectors like tourism, health, and education. We have the technology stack ready; now we need the right policy framework.

    We envision providing credit throughout a person’s life, from college to retirement, with various credit products offered by banks and other industries. This holistic approach can benefit individuals in rural areas and tier four and five cities. It is time to explore how we can make this a reality in India.

    StartupTalky: Mr. Handa, I have one more question, a bit hypothetical. Currently, commodity-based businesses use their commodities as collateral for loans. So, in this digital age, is it conceivable that companies might use data as collateral for securing credit in the near or distant future? What are your thoughts on this possibility?

    Mr. Handa: Today, I am in Delhi, where we hosted an event with friends from the banking fraternity. One interesting discussion point was a banker’s dream of creating an all-digital loan against property journeys with no paper involved. I believe this aspiration can become a reality.

    I see hope in the increasing digitization of daily life. From making payments through Google Pay to accessing documents in DigiLocker, these building blocks are aligning. It is conceivable that property purchases and land records could end up in a DigiLocker in the future, although this will involve complex security measures.

    India Stack has played a crucial role in this journey, starting with Aadhaar’s identity layer, and now expanding to consent and data layers, including account aggregators. As these layers evolve, they will trigger a chain reaction, although predicting the exact outcome is challenging.

    One thing is certain: there’s hope, belief, and the right tools, capabilities, and environment to make it happen. If this transformation occurs anywhere in the world, it will be in India. The next step is to create an environment for India’s success story to benefit other communities and countries, promoting inclusive growth and economic development.

    While we aim for growth and revenue with ethical practices at Lentra, the ultimate goal is to see both Lentra and India thrive economically.

    StartupTalky: As you rightly said, India has definitely made significant strides in digital payments and fintech, surpassing the West in many aspects. So, moving on to my final question, what is your outlook for the industry, and what advice do you have for budding entrepreneurs?

    Mr. Handa: I would say take a fearless leap. When I started Lentra with my partner, DV, we were in our fourth year, incubating this idea. I came from a corporate background, having worked at Capgemini and Barclays. It was a pivotal moment, and I am glad I took the chance. Some things cannot be meticulously planned; they unfold in unexpected ways.

    Facing challenges, patience, and persistence are crucial. We have adopted an iterative approach, not starting with a grand plan but having a vision and adapting along the way. We have made mistakes but also made more right decisions, which got us this far. We cannot become complacent; curiosity and a hunger for growth are essential.

    We are fortunate to thrive in India, where the ecosystem is expanding, attracting global giants like Apple and Google. Indian entrepreneurs have the opportunity to create localized solutions that cater to India’s unique needs. Opportunities surround us, and we should take the risk, have courage, and improvise. It is a conducive environment with ample support and resources available. So, my advice is to go for it.

    StartupTalky: Thank you, Mr. Handa, for sharing your valuable insights. I have learned a lot, and I am sure our audience has too. We appreciate your time, and we look forward to future interactions whenever the opportunity arises.

    Mr. Handa: My pleasure. Thank you so much for having me. It has been a pleasure interacting with you.

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  • Grandpa Kitchen: Exploring YouTube with Insights and a Meaningful Purpose

    In the world of YouTube, where you can find all kinds of videos, Grandpa Kitchen is a special channel with a big heart. It’s got over 9.4 million subscribers who really like it because it’s unique and does something very thoughtful.

    Grandpa Kitchen, started by the late Narayana Reddy, has a heartwarming mission: they prepare delicious meals and share them with orphaned children and those in need, all while entertaining people. It’s not just a YouTube channel, it’s like a big hug of happiness and hope in the online world.

    Even though Narayana Reddy is no more, his family is carrying on his good work. They’re making sure that Grandpa Kitchen keeps on making people happy with food.

    Recently, we at StartupTalky got to interact with Shrikant Reddy, son of the late Narayana Reddy, where he shared insights about their channel and their ongoing mission to spread happiness.

    So, let’s jump into what he had to say and learn from his insights.

    StartupTalky: Mr. Shrikant, could you share a bit about your journey as a YouTuber and what your channel is all about?

    Shrikant: Our journey at Grandpa’s Kitchen is a heartwarming narrative woven with unity and compassion. A team of Motion Graphics designers, we embarked on a unique path shaped by village potluck gatherings. What made these gatherings extraordinary was the culinary magic of Grandpa. These cherished moments ignited the spark for Grandpa’s Kitchen on YouTube, a platform where we could encapsulate our memories while making a tangible difference. 

    Our channel, far from just being a recipe repository, encapsulates the essence of love and care poured into every dish. It’s not merely about sharing flavorsome meals; it’s about the commitment to uplifting the lives of needy children through food distribution. This forms the very heart and soul of our channel, infusing each video with the warmth of our mission.

    StartupTalky: What equipment and software do you use for filming and editing your videos?

    Shrikant: Initially, we relied on Adobe Premiere for video editing and Photoshop for crafting thumbnails. As we progressed, we chose to outsource these tasks, allowing us to focus more on the essence of our content – Grandpa’s culinary creations and the joy they bring. The evolution from self-editing to professional assistance has elevated the overall quality of our videos and streamlined the creative process. The recording equipment used initially was a basic Canon camera, now we are using Camera Sony Alpha a7S III.

    StartupTalky: What techniques do you use for optimizing your video titles, descriptions, and tags for search visibility?

    Shrikant: Strategically optimizing video elements for search visibility involves a blend of Western and Indian trends. By identifying popular keywords in Western countries and aligning them with trending Indian keywords, our content bridges cultural gaps and reaches a global audience. This approach is reinforced by traditional YouTube search practices and tools like vidIQ, ensuring our videos are discoverable while staying true to our unique style.

    StartupTalky: Which YouTube analytics metrics do you focus on, and how do they guide your content strategy?

    Shrikant: Our content strategy is meticulously crafted through a keyword-focused approach. We analyze keywords that resonate in Western food spaces and juxtapose them with current Indian trends, combining a broad appeal with local relevance. Traditional YouTube search methods and tools like vidIQ assist in this endeavor. By staying attuned to these metrics, we ensure our content resonates with a diverse audience while maintaining authenticity.

    StartupTalky: Mr. Shrikant, how do you approach collaborating with other YouTubers, and how have these collaborations benefited your channel?

    Shrikant: We approach collaborations with creators who share our values and purpose. These partnerships infuse fresh perspectives and diverse content styles, enriching our channel. Collaborations expand our reach and foster a sense of community, introducing our content to new audiences. These partnerships breathe life into our videos, invigorating them with unique voices and ideas. They also cultivate authentic connections and cross-promotion opportunities, amplifying our impact. Collaborations exemplify the YouTube spirit of creators uniting for greater creativity. They extend our ethos and joy of cooking to new corners of the digital world, leaving a mark on our channel and the global community.

    Shrikant: While invitations to various YouTube events have indeed graced our inbox, we uphold a stringent criterion – alignment with our core mission. Authenticity is our cornerstone, and we value connections that mirror our commitment to positively impacting. Our stance remains open to relevant opportunities that contribute to our YouTube channel’s growth and our overarching goal of spreading love and compassion through our content. We understand the power of genuine interactions in this digital age and are poised to embrace events and communities that truly resonate with our ethos.

    StartupTalky: When did you start monetizing your channel, and what monetization methods have you found effective?

    Shrikant: Our journey towards monetization was an organic evolution, not the initial focal point. Our channel’s popularity, nurtured by authenticity, set the stage for broader horizons. Beyond YouTube earnings, we ventured into partnerships, merchandise, and collaborations that harmonize seamlessly with our core values. This multi-pronged approach not only sustains our efforts but also magnifies our ability to make a genuine difference. By intertwining monetization with our mission, we ensure that each avenue aligns with the heart and soul of Grandpa’s Kitchen. It’s a delicate equilibrium where financial growth enhances, rather than overshadows, our commitment to spreading love and kindness.

    StartupTalky: Apart from YouTube earnings, have you explored other income streams that align with your content?

    Shrikant: Beyond the YouTube earnings, we’ve ventured into diverse income streams that harmonize seamlessly with our content’s essence. Engaging partnerships, thoughtfully curated merchandise, and synergistic collaborations have emerged as potent avenues. Notably, these endeavors amplify our capacity to create positive change and fuel our ability to channel resources into the heart of our mission – aiding charitable initiatives. This holistic approach fortifies our commitment to spreading culinary joy and extending the warmth of compassion to those who need it most.

    StartupTalky: How do you approach sponsorships and partnerships, ensuring they align with your channel’s ethos? Could you share a significant partnership experience?

    Shrikant: When it comes to sponsorships and partnerships, our approach rests on a foundation of shared values. Each collaboration is meticulously vetted to ensure alignment with our channel’s ethos – the very values that fuel Grandpa’s Kitchen. It’s about more than just products; it’s about purpose.

    StartupTalky: From your perspective, is becoming a full-time YouTuber a viable career choice? What influenced your decision?

    Shrikant: Indeed, stepping into the role of a full-time YouTuber holds viability, but it’s essential to cultivate authenticity and a distinctive proposition. Our journey, rooted in a niche that blossomed our success, is indicative of the dynamic. Yet, the contemporary landscape necessitates a deeper and genuine connection with the audience, coupled with content that stands out. The influx of creators amplifies the need for an unparalleled offering. For us, our unique start catalyzed our decision, and we acknowledge that in today’s realm, standing out through genuine engagement is pivotal for sustainable success.

    StartupTalky: Mr. Shrikant, what concise advice would you offer to individuals starting their YouTube journey, including potential pitfalls to avoid?

    Shrikant: For those embarking on a YouTube journey, my advice is simple yet pivotal. Focus on delivering genuine value to your audience. Authenticity has an unparalleled resonance that sets you apart in a sea of content. Patience is your trusted companion; don’t be swayed by fleeting trends that don’t align with your voice. Be steadfast in staying true to your unique essence, for therein lies the captivating allure that fosters genuine connections. Avoid the allure of shortcuts that compromise your authenticity; they often lead you astray. Remember, your journey is one-of-a-kind; let it shine brightly, guided by your unwavering authenticity.

    StartupTalky: Finally, how do you see your YouTube channel evolving in the next few years? Do you have specific goals or milestones in mind?

    Shrikant: We aim to connect more deeply with our community, spotlighting community leaders’ insights through interviews. Collaborating with Animeta for digital presence enhancement is a step toward holistic growth, expanding Grandpa’s legacy of love and positive change.

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