StartupTalky

Tag: Recap23

  • Innovating Education: Zamit’s Future-Ready Approach with Aarul Malaviya

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    EdTech, or education technology, is booming. Thanks to the pandemic, companies are creating cool tools like online courses, fun learning games, and AI tutors. It’s making education more personalized, breaking down distance barriers, and making learning super interesting.

    The EdTech industry is projected to experience phenomenal growth in the coming years, with estimates suggesting a compound annual growth rate (CAGR) of 15.2%, potentially reaching a market size of over $605 billion by 2027 (Research and Markets).

    In our recent interview for Recap’23, we connected with Aarul Malaviya, Founder of Zamit. We talked about how Zamit is making waves in the EdTech industry. We covered challenges, strategies for reaching customers, future plans, and more.

    StartupTalky: What service does Zamit provide? What was the motivation/vision with which you started?

    Aarul Malaviya: We help students prepare for tomorrow today! Zamit, a UK-based organisation, specialises in Skills and Knowledge Integrated Learning for students and Teaching Excellence and Relevance Management for Teachers. Using its unique Measure, Improve, and Monitor model, it offers AI-driven Learner Analytics and an impactful ‘iSKiL’ program for students, nurturing over 70 important skills for academic success. The company’s innovative ‘ZQ’ (Zamit Quotient), the world’s first AI-driven, measurable indexing system, replaces traditional standardised tests to focus on the future readiness of students. Our ‘iTERM’ program supports teachers with Continuing Professional Development on over 80 skills, including classroom resources and CPD programs. Furthermore, Zamit collaborates with various schools to deliver customised iSKiL and iTERM programmes and offers international certifications in line with UK standards through Qualifications and Assessments International in the UK, providing educational content of world standards.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of Zamit?

    Aarul Malaviya: Zamit stands out in the industry by providing unique programmes to guide teachers and students towards greater success, including portfolio-building services, English language assessment, internships, scholarships, and research grants. Moreover, our services align with India’s National Education Policy 2020. For schools, alongside ZQ assessments, Zamit offers teacher development resources, safe recruitment solutions, a marketplace, news, webinars, curated content, ambassador programs, promotions, and awards. We recently added programs such as ‘iTERM’ for teachers and ‘iSKiL’ for students; both programmes are aligned to the Common International Framework of Reference for Future Readiness or CIFR, a gold standard.

    StartupTalky: How has the Edtech industry changed in recent years, and how has Zamit adapted to these changes?

    Aarul Malaviya: Recently, the EdTech industry has undergone a significant transformation fuelled by the latest technological improvements and evolving academic methodologies. This shift has led to the emergence of online platforms that offer flexible learning, personalised education through AI, immersive learning with the integration of Virtual Reality tools, and a renewed emphasis on practical, real-world skills. In response to these developments, Zamit has overhauled its platform to prioritise user-friendliness. The company is now leveraging adaptive technology for personalised learning experiences, integrating Artificial Intelligence algorithms to actively engage students, using machine learning software to analyze data, and assisting teachers and institutions in integrating the required technology. The need to adapt is now crucial for success in the rapidly changing world of education and technology.

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    Aarul Malaviya: Keeping up with the rapid changes in the educational market requires proactive involvement in industry events like conferences and seminars to directly engage and witness emerging trends and insights. Additionally, our research team consistently dives deep into newly released credible publications and research papers, extracting invaluable data from expert case studies. Moreover, cultivating partnerships with academic experts and international and national educationists provides Zamit with access to relevant and current innovations in the field.

    StartupTalky: What key metrics do you track to check Zamit’s growth and performance?

    Aarul Malaviya: For a startup, monitoring key metrics is essential to gauge overall growth. In EdTech, user engagement and retention rates gauge Zamit’s impact on students’ long-term learning. Conversion rates and acquisition costs reflect the efficiency of our marketing campaigns while assessing student assessments and completion rates to evaluate content effectiveness. Analysing user feedback through data analytics guides us in making anticipated platform improvements for sustainable company growth.

    StartupTalky: What were the most significant challenges Zamit faced in the past year, and how did you overcome them?

    Aarul Malaviya: This year, the EdTech world encountered major hurdles amid swift changes in the global academic sphere. While many companies scrambled to adjust to remote learning needs, Zamit made required enhancements to accommodate more users, boosting server capacity and upgrading internet capacity to ensure a seamless experience. Adapting to new-age requirements of teachers and students alike are as important in education as they are involved the rapid development of interactive and compelling digital content. Moreover, improvements in customer support and tutorials aided the transition to remote learning, enabling us to uphold our dedication to delivering high-quality education.

    StartupTalky: Good service is something everyone is talking about in the service industry. How does Zamit ensure that their clients are happy?

    Aarul Malaviya: Delivering top-notch service and ensuring client satisfaction in any other industry. It means actively gathering feedback from principals, teachers, and students through surveys and direct interactions to understand their needs. These insights drive refinements that align with changing learning patterns, shaping the platform accordingly. Additionally, cultivating a community via online forums nurtures a collaborative environment for the whole industry.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Aarul Malaviya: Zamit operates on a comprehensive marketing strategy using multiple communication channels. Content marketing, such as blogs and webinars, highlights our academic expertise, engaging both teachers and learners. Social media amplifies this by sharing informative content and success stories, fostering a robust community. Targeted ads on social platforms not only acquire users but also enhance our visibility through word-of-mouth.

    StartupTalky: Foreign clients – this is what most of the service-based companies are looking for. What has been your experience?

    Aarul Malaviya: Partnering with global institutions such as Qualifications and Assessments International, UK broadens Zamit’s platform to cater to diverse learning needs, embracing cross-cultural exchanges for excellent and up-to-date academic content. Our international presence in UAE drives growth, motivating us to seek strong partnerships and aspire to become a top global educational tech provider.

    StartupTalky: What are the important tools and software you use to run Zamit smoothly?

    Aarul Malaviya: The combination of tools helps us take a comprehensive approach to managing both customer interactions and internal processes. Some of the important tools and software used to run our business smoothly include ZOHO for CRM, campaign management, social media management, ticketing, etc. In addition, we use Sales IQ, Knowlarity, WhatsApp, and Forms for customer interaction. Additional tools such as uKnowva and Asana are used for internal HRMS and project management. Other technical tools include Adobe, Invideo, StreamYard, etc. All these help us gather data and stay ahead of the market.

    StartupTalky: What opportunities do you see for future growth in the Edtech industry in India and the world?

    Aarul Malaviya: With a booming population and wider internet access in India, there is ample room to enhance the accessibility of education, especially in underserved regions. Therefore, online platforms offer flexibility to meet this academic gap. Additionally, AI and machine learning algorithms are poised to elevate student engagement experience. Worldwide, the move towards lifelong learning, driven by job market shifts, is propelling the growth of the EdTech industry.

    StartupTalky: What kind of difference in market behaviour have you seen between India and the world?

    Aarul Malaviya: The EdTech markets in India and globally showcase distinct behaviours. India sees a high demand for affordable coaching and skill development for competitive exams, driven by a large population that aspires to illustrious colleges and jobs. Globally, there’s a wider emphasis on long-term skill-based learning, aligning with industry needs. At the same time, both embrace online learning platforms; global trends favour personalised, tech-driven experiential learning, while Indian students lean more towards fundamental content. Nonetheless, both markets are swiftly adopting digital learning avenues to address learning requirements.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Aarul Malaviya: The company has been conducting extensive research to identify the gaps in the market regarding future readiness skills for students and teachers. Based on the information gathered, we identified a need for a framework that is standardised, measurable, personalised, and modern and that would guide students and teachers towards greater success. Basis this understanding, Zamit’s proprietary model of Measure-Improve-Monitor was developed. The Zamit programmes are founded on this M-I-M model.

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    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Aarul Malaviya: Our expansion plan revolves around customer outreach and diverse service offerings. Targeted marketing will help us penetrate new markets and fortify existing ones. Prioritising focused assessment and improvement programmes for emerging skills remains advantageous, alongside continuous improvements to our platform and user experience. Based on the encouraging response from the market, we have aggressively begun to expand our team in select cities across India and the UAE. We have a plethora of cloud-based solutions that will help us upscale in regard to technical assistance required for team management while keeping pace with expansion. Some of the tools include ZOHO CRM, Asana, and Odoo.

    StartupTalky: One tip that you would like to share with another Service company founder?

    Aarul Malaviya: Our advice to fellow founders is to always hone your adaptability skills. Education and tech are dynamic, so staying ahead of the curve is crucial in staying relevant. Be flexible in your strategies, be the first one to adopt the latest tech, and constantly keep improving your services based on user feedback, as these aspects will define your future success.

    StartupTalky extends its gratitude to Mr. Aarul Malaviya for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • AASOKA EdTech: Monica Malhotra Kandhari’s Visionary Leap in Learning

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    EdTech, short for education technology, is flourishing. The pandemic has spurred companies to develop exciting tools—online courses, engaging learning games, and AI tutors. This shift aims to personalize education, overcome distance barriers, and enhance the learning experience.

    Looking ahead, the EdTech industry is poised for remarkable growth. Projections indicate a compound annual growth rate (CAGR) of 15.2%. The global EdTech market is currently valued at $340 billion and is expected to reach $605 billion by 2027 (Research and Markets). The trajectory suggests a dynamic landscape, showcasing the increasing importance of technology in shaping the future of education.

    In our recent interview for Recap’23, we connected with Monica Malhotra Kandhari, Managing Director of AASOKA & MBD Group. We delved into AASOKA’s impact on EdTech, discussing challenges, customer outreach strategies, future plans, and beyond.

    StartupTalky: What service does AASOKA provide? What was the motivation/vision with which you started?

    Monica Malhotra Kandhari: AASOKA Learning and Teaching Solution is a comprehensive blended learning platform designed to deliver a tailored and research-based K-12 curriculum developed by its in-house research team using cutting-edge learning resources. AASOKA works with schools to facilitate required tools and services to upgrade administrative and teaching processes. It provides a 360-degree solution, including LMS (Learning Management System), SMS (School Management System) fee management, attendance management, digital content, adaptive tests, homework and assignment creation, learning gap analysis, and qualitative/quantitative evaluation of learning outcomes per student. The goal is to make high-quality academic resources cost-effective, ensuring accessibility for all students and supporting schools throughout India. With a deep foundation in EdTech, educational content, and academic research, AASOKA holds a prominent position in the education sector.

    StartupTalky: What new services have been added in the past year? What is/are the USP/s of AASOKA?

    Monica Malhotra Kandhari: Last year saw the launch of our AASOKA Version 2.0, powered by advanced AI, revolutionizing the Edtech sector in India. The update enables seamless tracking of individual student progress within classes or across subjects using AI-driven analytics. These analytics predict student growth based on real-time performance analysis, understanding their unique learning styles. We have enhanced the dashboard and added features like the Daily Task Calendar, Digital Signatures, Leave Request System, and AI-driven Ask-A-Question, among many others, to enhance the learning experience, streamline interactions, and improve accessibility for students, teachers, and school management.

    AASOKA stands out by offering personalized learning and tailored academic solutions for schools, focusing on customization to address each school’s specific challenges for better teaching and results. Our approach aligns with the National Education Policy 2020, emphasizing 21st-century skills for holistic learning. The learner-centric resources, crafted by our research team, use interactive multimedia content for an engaging learning experience.

    StartupTalky: How has the Edtech industry changed in recent years, and how has AASOKA adapted to these changes?

    Monica Malhotra Kandhari: In recent years, the EdTech industry has transformed significantly, driven by tech upgrades and evolving academic techniques. The new developments include online platforms for flexible learning, AI-driven personalised education, integrated, immersive learning, and a renewed focus on practical skills. To adapt, AASOKA has revamped itself to be a user-friendly platform, using adaptive tech for personalised learning, embracing AI/AR/VR for student engagement, aligning academic courses with modern job market needs, experiential learning, self-evaluation, and supporting teachers and institutions in tech integration. Adaptability is now pivotal for success in this rapidly changing EdTech realm. Content in AASOKA is updated regularly to align to NEP 2020 and, NCF-FS 2022 &NCF-SE 2023.

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    Monica Malhotra Kandhari: Staying on top of the EdTech market’s rapid evolution necessitates active engagement in industry events like conferences and seminars for firsthand exposure to emerging trends. Building a strong network within academic communities through online forums and professional associations allows us to stay in touch with contemporary insights. Also, our research team is always skimming through reputable publications and research papers to gain invaluable analysis of expert case studies. Additionally, building partnerships with academic institutions and tech firms gives AASOKA access to industry trends and innovations.

    StartupTalky: What key metrics do you track to check AASOKA’s growth and performance?

    Monica Malhotra Kandhari: Tracking vital performance metrics is crucial for assessing AASOKA as a product. In the Edtech industry, user engagement and retention rates signify AASOKA’s effectiveness in the long-term learning curve of students. Powered by real-time AI analysis, we get a deep insight into user behaviour and content performance, ensuring our strategies are always razor-sharp. This data-driven approach has yielded remarkable results, with a 6x increase in schools using AASOKA since 2022-23 and a 5x growth in our revenue, all while maintaining a high retention rate that speaks volumes about the value we deliver. Furthermore, analysing user feedback through surveys and reviews guides us in making anticipated tweaks to the platform, ensuring the sustainable growth of AASOKA. By continuously learning and adapting, we’re confident AASOKA will remain a beacon of progress in the education landscape.

    StartupTalky: What were the most significant challenges AASOKA faced in the past year, and how did you overcome them?

    Monica Malhotra Kandhari: In 2023, the EdTech world as a whole faced significant challenges due to rapid transformations in the global academic industry. Some of the major challenges that people still face include a lack of digital/ technical knowledge and minimal to no access to the internet and other resources to people in rural areas. While companies were catching up to quickly adapt to remote learning demands, AASOKA’s new-age online platform was already ahead of the curve. AASOKA upgraded its platform to handle more users, improving servers and internet capacity for a smoother experience. Similarly, meeting the changing needs of teachers and students meant developing engaging digital content fast, but partnering with experts helped us. We also improved customer support and tutorials to help everyone adjust to remote learning. These changes let us stay true to our commitment to quality education.

    StartupTalky: Good service is something everyone is talking about in the service industry. How does AASOKA ensure that their clients are happy?

    Monica Malhotra Kandhari: Maintaining a great standard of service and ensuring client satisfaction is key in education, just like any other industry. Building on MBD’s 67-year legacy of quality education, trusted products, and deep understanding of teachers’ needs, AASOKA takes a layered approach to understanding user needs. We actively engage with teachers and students through regular feedback surveys and direct communication. These insights guide AASOKA in refining its offerings to match the evolving learning trends in India, curating the platform accordingly. Importantly, AASOKA’s commitment extends beyond meeting user needs. With the educational landscape constantly shifting, we keep schools and teachers abreast of the latest policies and curriculum changes (NEP 2020, NCF) through dedicated resources and workshops. Additionally, we invest in our educators through regular Faculty Development Programs, equipping them with the latest teaching methods and technologies to deliver the most effective learning experiences for their students. Through these ongoing efforts, we ensure our clients feel heard, supported, and equipped to deliver exceptional learning experiences, ultimately keeping them happy and engaged with AASOKA.

    StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

    Monica Malhotra Kandhari: In our marketing endeavors, AASOKA follows a diverse strategy across multiple communication channels. Content marketing, including blogs and webinars, showcases niche academic expertise, engaging teachers and learners alike. Through social media, the brand shares informative, engaging content and success stories, nurturing a strong community all around. Moreover, targeted ads on social platforms drive user acquisition for the platform and boost our visibility through a word-of-mouth approach. Beyond the digital sphere, we actively engage through collaborative workshops with Sahodaya School Complexes and actively participate in various conferences and exhibitions to solidify AASOKA’s presence. In addition, AASOKA fosters educational enrichment through seminars, workshops, and teacher engagement programs, reinforcing its commitment to tailored solutions and collaborative learning experiences for K-12 schools.

    StartupTalky: Foreign clients – this is what most of the service-based companies are looking for. What has been your experience?

    Monica Malhotra Kandhari: In the context of AASOKA’s current focus and operations, the company has primarily been concentrating on serving schools across India. As of now, the outreach to foreign clients has not been initiated. However, it is part of our strategic plan to explore and expand into international markets in the future. AASOKA recognizes the potential value of catering to foreign clients and intends to incorporate this into its growth trajectory.

    StartupTalky: What are the important tools and software you use to run AASOKA smoothly?

    Monica Malhotra Kandhari: Behind the scenes of our smooth operation lay different in-house systems, each playing a crucial role in keeping things in tune. Our in-house tracking system tracks every shipment, ensuring timely deliveries and minimizing hiccups. For our internal operations, we rely on a dedicated system that functions as a project manager. It keeps everyone on the same page, with crystal-clear visibility into deadlines, tasks, and progress. This ensures seamless collaboration and eliminates the risk of missed deadlines or forgotten details. As for our support team, transparency is everything. A clear dashboard displays the current queue of needs, and with each resolved issue, a satisfying tick marks it off the list. This not only fuels our team’s motivation but also offers a real-time window into our service efficiency for any curious client. These are just a few examples of systems that power our smooth operation. 

    StartupTalky: What opportunities do you see for future growth in the EdTech industry in India and the world?

    Monica Malhotra Kandhari: In India, driven by a growing population and increased internet access, there’s significant potential to improve the accessibility of education, especially in remote areas. People are not aware of the current changes in the education sector, including National Education Policy 2020. Some of the ways it can be tackled can be in the form of making smartphones cheaper, increasing the reach of the internet in remote areas, and improving digital literacy. Additionally, AASOKA is well-positioned to tap into the growing market for regional language education, aligning with the aspirations of the NEP 2020. This presents a significant opportunity to extend the reach of education to a wider audience, fostering inclusivity and catering to diverse linguistic preferences.

    The rise of online learning platforms holds the potential to meet this demand for flexible learning experiences. Similarly, the integration of AI algorithms, Augmented Reality/Virtual Reality tools, and machine learning (ML) promises to enhance student engagement. Globally, the shift towards lifelong learning due to changes in the job market is fueling the growth of EdTech platforms.

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    StartupTalky: What kind of difference in market behaviour have you seen between India and the world?

    Monica Malhotra Kandhari: The market behaviour massively varies between the Indian and the global markets, especially in the Edtech space. In India, there’s a surge in demand for affordable education, mainly focusing on coaching and skill development for competitive exams, due to a large population aspiring for prestigious admissions or job opportunities. Worldwide, there is a broader focus on lifelong, skill-based learning and professional development aligning with the industry’s needs. While both markets embrace online learning, the global market leans towards personalised, experiential learning using the latest tech, while an Indian student relies more on foundational content delivery. However, both markets are quick to adopt digital solutions to meet learning needs.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Monica Malhotra Kandhari: The past year has been a period of great learning for the team. With our training team visiting schools to generate awareness of technological interventions in school education, we received a very positive response. Schools are genuinely willing to upgrade to meet current demands. We ensured our training team reached every school, discussing topics related to every new trend in the market.

    Furthermore, our clients have responded positively, seeing their specific needs fulfilled. Whether it’s improving a school’s social media reach or providing strategies for boosting admissions, we take pride in being a complete school partner. Based on observations and responses, our current strategy is to incorporate every aspect of 21st-century schools’ needs within our blended learning solution.

    StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?

    Monica Malhotra Kandhari: In 2023, AASOKA partnered with 1,900 schools in the second year of its operations and will be targeting collaboration with 20,000 schools in the next three years. For expansion, AASOKA’s strategy focuses on customer outreach, a variety of services, and staying in tune with current changes in technology. We will use targeted marketing techniques to reach new markets and strengthen existing ones. Moreover, introducing specialised courses for emerging skills is key while constantly improving our platform and user experience on priority.

    StartupTalky: One tip that you would like to share with another service company founder?

    Monica Malhotra Kandhari: For fellow founders, my essential tip is to prioritise adaptability and responsiveness. Education, technology, and learning needs are ever-evolving. Therefore, being responsive is vital to staying relevant and meeting changing demands. Flexibility in strategy, quick adoption of new tech, and constant improvement based on user feedback are defining factors for success. Additionally, investing in curating your own high-quality educational content can be a game-changer. This will allow you to not only stand out from the crowd with unique offerings but also ensure the content aligns perfectly with your company’s vision and values.

    StartupTalky extends its gratitude to Mrs. Monica Malhotra Kandhari for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Jaideep Tiwari of BramhAnsh Technologies on Pioneering MedTech Innovations and Industry Dynamics

    StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.

    In the world of medical technology, smart solutions are changing how we think about healthcare. The MedTech industry is like a game-changer, transforming the way we handle medical care, figure out problems, and provide treatment.

    Projections for the Indian MedTech sector showcase remarkable growth. Estimated revenue in the medical technology market is set to reach $9.19 billion in 2023, with the medical devices segment contributing significantly at $7.33 billion. Experts anticipate an annual growth rate (CAGR) of 8.27% for 2023–2028, projecting a market volume of $13.67 billion by 2028.

    In our recent interview for Recap’23, we connected with Jaideep Tiwari, Founder and CEO of BramhAnsh Technologies Pvt Ltd. We discussed how BramhAnsh is making its mark in the MedTech industry, covering its challenges, customer expansion strategies, future plans, and more.

    StartupTalky: Jaideep, what service does BramhAnsh Technologies provide? What was the motivation/vision with which BramhAnsh Technologies started?

    Jaideep Tiwari: BramhAnsh Technologies Private Limited stands as a trailblazing MedTech company committed to transforming the landscape of healthcare by offering cutting-edge medical devices tailored to address a spectrum of conditions such as headaches, anxiety, insomnia, migraines, and more. Our firm is deeply devoted to a mission that seeks to reshape healthcare through the introduction of innovative, clinical-grade wearable medical technologies, with the ultimate goal of enhancing patient outcomes and raising the quality of life globally.

    The spark for our journey ignited in 2015 when I, Jaideep Tiwari, the Founder and CEO of BramhAnsh Technologies, personally confronted an anxiety disorder and recognized the pressing need for effective treatment. Rather than succumbing to this challenge I and my colleague K. Kartik, Co-founder and COO of BramhAnsh Technologies, decided to harness the potential of technology to address mental health issues. Drawing upon a history of collaboration and shared interests dating back to our college days, we embarked on a mission to establish a company that would utilize technology to provide relief for a diverse range of disorders. Hailing from a small town in Chhattisgarh, we, as emerging young entrepreneurs, carried a bold vision.

    Our official journey commenced in 2017 when we initiated extensive research into the development of a technology utilizing sound waves as a method of stimulation to calm the nervous system. After countless hours of research, unwavering dedication, and hard work, we successfully created this groundbreaking technology. In 2020, we proudly secured a patent for our innovation, aptly named “MIGRAELIEF.”

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    StartupTalky: What new features have been added in the past year? What is/are the USP/s of BramhAnsh Technologies?

    Jaideep Tiwari: In 2023, the company commenced clinical trials, conducted comprehensive market research, and successfully launched the first flagship product into the market. “Migraelief” from BramhAnsh Technologies is the first wearable migraine treatment product in India that uses a neuromodulation method for treatment. Migraelief is a medical-grade device and is clinically validated to provide relief to individuals who have not found success with other migraine treatments. MIGRAELIEF is a CDSCO-registered and ISO-CE-certified device that utilizes research-backed low-frequency sound waves generated by the developed patented transducer technology. Migraelief is an effective solution to address the needs of a substantial portion of the population who find pharmaceuticals either ineffective or problematic for migraine relief or seek an alternative treatment method.

    This groundbreaking innovation in the Medtech industry precisely targets a crucial market requirement, offering an alternative to pharmaceuticals that provides meaningful relief to those affected by migraines.

    StartupTalky: How has the MedTech industry changed in recent years, and how has BramhAnsh Technologies adapted to these changes?

    Jaideep Tiwari: The Industry has undergone significant transformations over the past few years. Technological advancements and evolving consumer preferences have been pivotal drivers of change. To adapt to these changes, our company has undertaken a comprehensive digital transformation, leveraging cutting-edge technologies to enhance our products and services. We’ve invested substantially in the shift towards e-commerce and online engagement has been substantial, prompting us to revamp our digital presence and implement robust online sales strategies.

    Additionally, recognizing the growing importance of sustainability, we’ve intensified efforts to integrate eco-friendly practices into our operations, aligning our business model with the increasing environmental consciousness of our stakeholders. Embracing remote work models during the global pandemic has not only ensured business continuity but has also fostered a culture of flexibility and innovation within our workforce. Overall, our adaptive strategies position us to navigate the dynamic landscape of our industry and continue delivering value in an ever-changing market.

    Jaideep Tiwari: As the CEO, maintaining a thorough understanding of the latest trends and developments within our industry is integral to our strategic decision-making process. To achieve this, I encourage the team to actively engage in industry conferences, and exhibitions, facilitating direct interaction with thought leaders and the acquisition of valuable insights. Our corporate culture places a premium on continuous learning, motivating our team members to stay informed and share their findings collaboratively. Leveraging advanced data analytics tools, we monitor real-time market dynamics and consumer behaviors.

    Furthermore, our company fosters collaborative affiliations with research institutions and strategic partners, ensuring access to cutting-edge insights and innovations. Through the implementation of this comprehensive approach, our organization maintains a dynamic and responsive posture, ready to capitalize on emerging opportunities within our dynamic industry landscape.

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    StartupTalky: What key metrics do you track to check BramhAnsh Technologies’ growth and performance? How does the company use these metrics to identify areas for improvement and guide strategic decisions for future growth?

    Jaideep Tiwari:  For a Company’s growth and performance monitoring key metrics is fundamental. Several key performance indicators (KPIs) are pivotal in this regard. Financial metrics, including revenue growth, profit margins, and cash flow, provide a comprehensive overview of our financial health. Customer acquisition cost (CAC) and customer lifetime value (CLV) help assess the efficiency and sustainability of our customer acquisition strategies. We closely track customer satisfaction scores and Net Promoter Score (NPS) to gauge the quality of our products and services from the customer’s perspective.

    Operational metrics, such as production efficiency, inventory turnover, and fulfillment speed, provide insights into the efficacy of our internal processes. Employee satisfaction and retention rates are monitored to ensure a motivated and stable workforce. Additionally, we analyze market share and competitive benchmarks to understand our positioning within the industry. These metrics serve as a compass for identifying areas of improvement. Regular reviews of these indicators allow us to pinpoint operational inefficiencies, customer pain points, or market gaps. Through a data-driven approach, we derive actionable insights that guide strategic decisions.

    For instance, if customer feedback indicates a need for product enhancements, we allocate resources to research and development accordingly. Likewise, if financial metrics indicate a particular product line’s success, we may consider expanding it or exploring similar market opportunities.

    In essence, these metrics act as a diagnostic tool, enabling us to diagnose challenges, capitalize on strengths, and make informed decisions that steer the company toward sustained growth. It’s a dynamic process that ensures we stay agile and responsive in a competitive business landscape.

    StartupTalky: What were the most significant challenges BramhAnsh Technologies faced in the past year and how did you overcome them?

    Jaideep Tiwari: Developing products like Migraelief presented significant challenges for a startup company like ours. One major obstacle was establishing a reliable network of fabrication vendors and suppliers. Many vendors demanded large quantity orders, making it financially daunting for a research-focused company like ours to invest heavily in sample pieces.

    Additionally, extensive education and awareness efforts were required to overcome the established reliance on pharmaceuticals for migraine treatment. Building a comprehensive understanding of the effectiveness of Neuromodulation devices among potential users became a crucial task.

    To overcome these challenges, the company worked diligently to identify vendors willing to accommodate smaller production quantities while remaining cost-effective. Through innovative, pragmatic, and frugal approaches, we successfully navigated these hurdles, leading to the successful development and introduction of innovative products like Migraelief. This product is clinically proven, doctor-recommended, and adheres to all safety parameters.

    StartupTalky: Trust among all the stakeholders is very important for a marketplace. How does BramhAnsh Technologies ensure it?

    Jaideep Tiwari:  In our marketplace, fostering and maintaining trust among all stakeholders is a paramount commitment. Transparency is at the forefront of our strategy, as we believe in openly communicating our policies, practices, and performance. This commitment extends to our customers, partners, and employees. Our customer-centric approach ensures that we consistently deliver high-quality products and services, aiming not only to meet but exceed expectations. A responsive and proactive customer service system is in place to address inquiries and concerns promptly, demonstrating our dedication to putting our customers first.

    Moreover, data security is a top priority, and we employ robust cybersecurity measures to safeguard the privacy of our stakeholders. Ethical business practices, fair pricing, and responsible operations are the cornerstones of our approach, building credibility and trust among our diverse stakeholders. Regular engagement through surveys and feedback mechanisms further allows us to adapt and improve, ensuring that trust remains the bedrock of our relationships in the marketplace.

    StartupTalky: What are the different strategies BramhAnsh Technologies uses for marketing? Tell us about any growth hack that you pulled off.

    Jaideep Tiwari: Our marketing efforts involve a combination of informative blog posts and engaging social media updates. We regularly share educational content about migraine relief, non-pharmacological treatment methods, and the benefits of our product, Migraelief. Additionally, we utilize eye-catching creative artworks and videos to effectively convey our message to our audience. We have recently started working on SEO activities as well to generate organic traffic. We are also participating in various healthcare events and conclaves.

    StartupTalky: Keeping up with supply and demand is important. How does BramhAnsh Technologies keep both in order while ensuring a seamless experience for users?

    Jaideep Tiwari: Maintaining a delicate balance between supply and demand is crucial for a seamless user experience, and at our company, it’s a meticulous process. We employ advanced forecasting and inventory management systems that leverage data analytics to anticipate demand trends accurately. This proactive approach allows us to optimize our supply chain, ensuring that we have the right level of inventory to meet demand without overstocking.

    Additionally, we maintain strong relationships with our suppliers, fostering open communication to adapt quickly to any changes in demand. Our commitment to transparency extends to our users, as we provide real-time updates on product availability, delivery times, and any potential delays. Continuous monitoring of market trends, coupled with a flexible production and distribution system, allows us to respond swiftly to fluctuations in demand. By prioritizing data-driven decision-making, fostering strong supplier relationships, and ensuring transparent communication with our users, we strive to deliver a seamless experience while efficiently managing the delicate equilibrium between supply and demand.

    StartupTalky: What opportunities do you see for future growth in the medtech industry in India and the world? What kind of difference in market behavior have you seen between India and the world?

    Jaideep Tiwari: The Medtech industry in both India and the world is poised for significant growth, driven by technological advancements, increasing healthcare awareness, and a growing aging population. In India, opportunities abound as the government focuses on expanding healthcare infrastructure and digital initiatives. The adoption of telemedicine, wearable devices, and AI-driven diagnostics presents substantial potential for growth. Additionally, India’s cost-effective manufacturing capabilities make it an attractive hub for global Medtech companies.

    Globally, the Medtech industry is witnessing a shift towards personalized and precision medicine, with innovations such as gene editing and regenerative therapies gaining prominence. The convergence of technology and healthcare is creating opportunities for smart medical devices, remote patient monitoring, and data analytics. The global market is also seeing a surge in investments in digital health startups.

    Market behavior differences between India and the world are notable. While developed nations have established regulatory frameworks and higher healthcare spending, India faces challenges of accessibility and affordability. The Indian market often demands solutions tailored to cost-sensitive demographics. Understanding these nuances is crucial for businesses aiming to navigate and succeed in both markets, where adaptability and a nuanced approach can unlock tremendous growth potential.

    StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?

    Jaideep Tiwari: Over the past year, our team has navigated challenges that brought forth invaluable lessons and insights. The dynamic business landscape underscored the importance of adaptability and resilience. Rapid shifts in market demands emphasized the need for agility in our operations, prompting us to reevaluate and enhance our supply chain strategies. Moreover, customer behavior underwent significant changes, urging us to prioritize an even more customer-centric approach. These lessons have become integral to shaping our future plans and strategies.

    Moving forward, we aim to fortify our operational flexibility, invest in digital transformation, and further personalize our offerings to meet evolving customer expectations. The lessons learned have instilled a proactive mindset within our team, empowering us to anticipate and respond effectively to emerging trends and challenges, ensuring our continued growth and success in the ever-evolving business landscape.

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    StartupTalky: How do you plan to expand customers, service offerings, and the team base in the future?

    Jaideep Tiwari: Our strategic roadmap for future expansion encompasses a comprehensive approach to growing our customer base, refining service offerings, and strengthening our team. To broaden our customer reach, we are implementing targeted marketing campaigns, leveraging data analytics to identify and engage with new segments. Innovation is a core focus for our service offerings, involving rigorous market research, responsiveness to industry trends, and a commitment to customer feedback for the introduction of new, impactful products and services. Strategic partnerships and collaborations are being explored to augment our service portfolio.

    In terms of team development, we prioritize fostering a culture of learning and development as paramount, training initiatives, and the creation of an inclusive work environment to foster collaboration and creativity. This integrated strategy aims to not only expand our market presence and service capabilities but also cultivate a highly skilled and motivated team, propelling our company toward sustained success.

    StartupTalky extends its gratitude to Mr. Jaideep Tiwari for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.

  • Upwards’ Abhishek Soni Discusses Fintech Triumphs, Challenges, and Future Strategies

    StartupTalky is back with its Year-End Stories, presenting Recap’23. This is a series of interviews in which we conduct in-depth discussions with founders and industry leaders to understand their growth in 2023 and their predictions for the future.

    Today, our focus is on fintech and financial services. The fintech industry has become a powerhouse, providing innovative solutions that transform how we manage money, invest, and access financial services.

    Projections indicate that the Indian fintech market is expected to reach an impressive $1.3 trillion by 2025. Looking further ahead, the estimated growth in Assets Under Management and Revenue is significant, with estimates hitting $1 trillion and $200 billion by 2030, respectively. These numbers highlight the huge potential and significant impact the fintech industry can have on the future.

    In our recent interview for Recap’23, we connected with Abhishek Soni, the Co-Founder and CEO of Upwards. We discussed how Upwards is growing, the challenges it faces, what they’ve learned, and what’s coming up in the future. We also explored how Upwards is making a difference in the fintech world. 

    StartupTalky: Abhishek, what does Upwards do? What was the motivation/vision with which you started?

    Abhishek Soni: We offer the best-in-class user experience, access to credit to underprivileged sections of society, and a fully real-time and paperless process. Solving the large & underserved credit opportunity in India by leveraging tech and data is the key motivator for us.

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    StartupTalky: What are some noteworthy achievements in Upwards’ journey?

    Abhishek Soni: Our business has received significant validation from the end user, investors, and various ecosystem stakeholders with:

    • 10 million customer sign-ups.
    • $5 million of equity infusion by top global VCs & ~$40M of institutional debt.
    • Deep partnerships with all key institutional lenders like HDB, ABFL, Vivriti, Fullerton, etc.
    • Acquisition by Lendingkart in Jan 2023 in a deal valued at $15 million and numerous industry accolades in 2023.

    StartupTalky: How has the fintech industry changed in recent years, and how has Upwards adapted to these changes?

    Abhishek Soni: While technology has penetrated all aspects of financial services and fintechs continue to grow at an unprecedented pace, a key underlying trend is proactive collaboration between conventional institutions (like banks, NBFCs) and fintechs. In the context of lending, co-lending, joint product creation, and deep tech integrations between banks and fintechs have been key enablers. Upwards has benefitted massively from this trend, and 80% of all loans we disburse are via a co-lending partnership.

    StartupTalky: Could you share how Upwards adjusted its entrepreneurial strategy to navigate the evolving business environment against all odds.

    Abhishek Soni: In the face of an evolving business environment and formidable odds, especially with COVID and various BFSI sector crises, Upwards remained frugal, flexible, and adaptable in our entrepreneurial strategy. When unforeseen challenges (like COVID) arose, we embraced change and leveraged adversity as a catalyst for innovation.

    StartupTalky: What key metrics do you track to check Upwards’ growth and performance?

    Abhishek Soni: We rely on a robust automated dashboard and data lakes to stay on top of all KPIs. Some of the key ones are disbursal and AUM growth, collection resolution rates and delinquencies, customer satisfaction scores, app rating, and tech downtimes among others.

    StartupTalky: What were the most significant challenges Upwards faced in the past year and how did you overcome them?

    Abhishek Soni: Post our acquisition, there was a massive push on growth, and given our vision to stay operationally lean and tech-first, we needed to quickly get to the product market fit. To achieve that, we launched 7 pilots in the last 12 months, and 2 of them worked and received phenomenal customer validation.

    StartupTalky: What are the different strategies Upwards uses for marketing? Tell us about any growth hack that you pulled off.

    Abhishek Soni: We bet big on iterating to product market fit and listening to the voice of the customers. As mentioned above, we develop a thesis around customer pain points and then ‘win a stay, lose shift.’ Our focus, almost never in our journey of 6 years, has been on paid marketing.

    StartupTalky: What opportunities do you see for future growth in the fintech industry in India and the world? What kind of difference in market behavior have you seen within states in India?

    Abhishek Soni: Credit penetration in India is still <5%, so just the domestic opportunity is massive, and with rising consumption, it is growing fast as well. Across states, we have not seen much difference in consumer behavior.

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    StartupTalky: What lessons did the Upwards team learn in the past year and how will these inform your future plans and strategies?

    Abhishek Soni: Customer-centric products and avoiding short-term gratification for long-term value creation are some of the key lessons. These enable us to lay a strong foundation for the future and ensure that as our numbers keep growing, financials stay green.

    StartupTalky: How does Upwards plan to expand the customers, product, and team base in the future?

    Abhishek Soni: We plan to hit Rs 1500 crore AUM in the next 24 months. Our focus (same as today) will be on fully digital loans to underserved segments across salaried and self-employed segments.

    StartupTalky: One tip that you would like to share with budding entrepreneurs.

    Abhishek Soni: Embrace failure as a stepping stone to success, stay relentlessly curious, and prioritize a problem-solving mindset. Build a strong network, value integrity, and maintain a clear, unwavering vision. Be adaptable, listen to your customers, and never stop learning. Your journey will be challenging, but the rewards are worth it.

    StartupTalky extends its gratitude to Mr. Abhishek Soni for dedicating his valuable time and generously sharing his insights with all of us.

    Explore more Recap’23 Interviews here.