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Tag: startup

  • Gingercup – A Cup That Serves A Purpose

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by GingerCup.

    Tea is India’s most favourite beverage and tea breaks are something that everyone enjoys. We rewind, relax, chat and discuss over a cup of tea. Bengaluru based paper cup startup, known as Gingercup is trying to make the best out of tea breaks, by reaching out to potential customers at tea time through their branded and beautiful paper cup.

    Gingercup – Highlights

    Startup Name GingerCup
    Headquarter Bangalore
    Founders Deepak Bansal & Devleena Neogi
    Sector Advertising/Marketing
    Founded 2015
    Services Paper cup advertising

    Gingercup – Vision and Mission
    Gingercup – Industry Details
    Gingercup – The Idea
    Gingercup – Name, Tagline, and Logo
    Gingercup – Product
    Gingercup – Funding
    Gingercup – Business Model
    Gingercup – Customer Acquisition
    Gingercup – Challenges
    Gingercup – Achievements
    Gingercup – Founders
    Gingercup – Work Culture
    Gingercup – Competitors
    Gingercup – Future Plans
    Gingercup – Tools/Software Used
    Gingercup – Advisors and Mentors
    Gingercup – Founder’s Advice
    Gingercup – Founder’s Productivity Hacks
    Gingercup – FAQ

    We interviewed the founders Devleena Neogi to know more about this unique marketing idea.

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    Gingercup – Vision and Mission

    GingerCup is a paper cup startup that thrives to provide the most innovative and effective marketing solutions, to its clients in creating a strong emotional connection with their customers. Ginger Cup is also known as the Ginger media group, has a long term goal is to be a media company that is the best and the default choice for branding across various verticals and to convert every white paper cup into a coloured cup branding.

    Gingercup – Industry Details

    The offline marketing industry is rapidly growing with the evolution of new media in OOH space. Consumers spend more than 70% of their working hours outside their homes. 60% of them are dedicated to regular consumer tasks such as commuting to work, working in the office, socializing, and drinking and eating outside their home or in the workplace.

    Also, since India is a tea-drinking nation, people from the age group of 18 to 80, from tier 1 city to villages, everybody loves tea. A typical Indian starts their day with tea and consumes at least 2 to 3 cups throughout the day. And that is where all the hot topics of the day get discussed.

    The ability to engage with consumers in their tea break makes paper cup marketing a powerful standalone medium and this is how the Ginger cups marketing strategy complements with other media. When an emotional moment combines with a discussion topic over tea, it exceeds the reach of word of mouth, amplifies the campaign and drives consumers to engage with brands online and in-store.

    Gingercup – The Idea

    GingerCup founders is Deepak Bansal and Devleena Neogi  said –

    Deepak came up with this innovative idea and discussed it with me one day. I could completely visualize the impact of paper cups as a media for branding at that very moment. The beauty of the idea was its simplicity. That was my AHA moment.  I loved it, but I had mixed emotions. I was very excited to execute the idea but at the same time a bit hesitant because of my stability in profession. Back in our mind, we were thinking – Why no one has tried this so far? Is it really going to be impactful? Whether the market will accept it or not?

    Every idea has its pros and cons. When we say simplicity is best at the same time it’s a threat in terms of business perspective. After hours of research, observation and executing a pilot campaign, they realized that it really was a breakthrough paper cup advertising concept.

    They both then decided to dedicate their full time to Ginger Cup. Also, the families and friends encouraged and supported us in every way. And that’s how GingerCup was started.

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    GingerCup logo and name comes from India’s favourite, “adrak wali chai” or ginger tea.

    ‘adrak wali chai’ holds a special place in the hearts of every individual. That’s where the name of our company, GingerCup, came from. Just like ginger gives flavor to the tea, our cup branding concept enhances the look of plain-white boring paper tea cups by displaying marketing messages.

    The tagline of the Ginger Cup reads-“‘cup that serves a purpose”. It serves a dual purpose, as it can be used to serve any beverage such as tea, coffee or water and for advertising purposes.

    The paper cup startup has a beautifully designed and meaningful logo.

    Gingercup Logo
    Gingercup Logo

    The letter ‘G’ denotes a piping hot paper cup reaching out with an arrow to a brand’s target audience.

    Gingercup – Product

    Ginger media group is a creative advertising agency that specializes in paper cup advertising. The paper cup business helps brands engage and interact with their target audience by printing marketing messages on paper tea cups. It helps brands reach out to their target group during tea breaks at offices and colleges.

    Unlike other advertising mediums, our paper cups advertisement provide an exposure time of 5-7 minutes in a clutter-free environment. Every cup branding campaign is planned keeping a client’s target audience in mind. For example Professionals in Tech parks, Corporate Companies, HNIs in Airlines, Trains, Colleges, Hospitals or Fitness centers, shopping malls etc.

    Gingercup Marketing
    Gingercup Marketing

    Gingercup – Business Model

    GingerCup business model is based on outsourcing paper tea cups from third-party vendors and prints advertising messages on them. The uniqueness of cup branding is the biggest USP of the company. Today, brands are constantly on the lookout for innovative ways and techniques to reach out to their target group and get them to take a call to action. This paper cup startup helps brands realize this dream.

    We strongly believe that our product is different in the market because it is a personal, dynamic and cost-effective marketing medium. We want our client’s message to reach as many people as possible. Thus, we have created a large inventory base through our tie-ups.

    Paper cup advertisement with Gingercup, allows brands to get access to 1400+ corporate companies that include MNC, SME, Startups, Co-working spaces, Food Courts of tech parks, 1500+ colleges, 60+ Hospitals, Shopping Malls, 7 Airlines (International and Domestic) and 75+ Premium trains (Rajdhani, Shatabdi, Duronto) across India.

    Gingercup – Funding

    When its comes to Gingercup funding, the company gets its funds through seed funding and angel investors. The two major Gingercup investors are

    • Sanket Gupta, Programme Lead, Google USA.
    • Rahul Shah, Technical Lead, Microsoft.

    Gingercup – Customer Acquisition

    Initially, Ginger Cup acquired clients through general sales and marketing techniques. Cold emailing worked great for them. After a couple of pilot campaigns, people began to notice and contact them.

    That’s when they truly started getting recognition for their work. From facility managers to leading brands, everyone was interested in understanding the advertising concept and ginger cup business model.

    Word of mouth has really helped us become who we are today – Devleena

    GingerCup counts Hotstar, Uber, Volkswagen, Huawei, NH Hospitals, Bookmyshow, Exide Life Insurance, Clovia, ISL – Delhi Dynamos, bahubali and Jet Airways as their clients.

    Gingercup – Challenges

    There are two major challenges faced by GingerCup at the beginning was getting the right manpower and building an inventory base.

    Firstly, hiring the right set of people was a big hurdle. However, to our luck, we were soon able to overcome it. Thanks to networking and references, we soon had the right talent joining our team.

    Secondly, building an inventory base was not a breeze either. Based on a campaigns demand, we were required to build consumer networks in new domains. Soon, we tied up with consumers in various locations and set up a large inventory base. Ginger media group is now operational in PAN India.

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    Gingercup – Achievements

    Within a short period of time, Gingercup has started offering services Pan-India, in cities such as Bangalore, Delhi, Noida, Pune, Gurgaon, Mumbai, Kolkata, and many more. The paper cup startup is also planning to expand abroad.

    Gingercup – Founders

    Deepak Bansal and Devleena Neogi are a couple entrepreneurs and teh Ginger Cup founders.

    Deepak  Bansal was working in the IT sector. He also worked as ‘Tech Lead’ in Samsung Research Institute, Bangalore.

    Devleena Neogi was an HR professional with exposure in business development for 6 years at different organizations like Wipro Technologies, iGatePatni and Magna Infotech Pvt Ltd.

    Gingercup – Work Culture

    We encourage an open door policy and believe every person should have a voice. We bridge the gap between leaders and employees by fostering open and honest communication. Our culture fosters diverse communities to create a large impact. Every employee in our organization works together to enhance the value we provide to customers.

    Team Gingercup
    Team GingerCup

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    Gingercup – Competitors

    There is no direct competition to GingerCup. But some of the GingerCup Competitors are Cupshup, Google and Facebook.

    We look at Google and Facebook as our competitors. Today, digital marketing and social media marketing have created a firm place for itself. We consider ourselves still in the nascent stage of experimental marketing. – Devleena

    Gingercup – Future Plans

    To sustain the attention of various target groups, GingerCup is looking to add a burst of innovation to their paper cups.

    Paper cup advertising and innovation are synonymous We are already working on an AR-enabled paper cups that will offer brands enhanced awareness, visibility, and engagement.  Ginger cups aim is to make paper cup business a potent marketing tool rather than just limiting it to a beverage container.

    Gingercup – Tools/Software Used

    The tools that GingerCup uses are

    • Google suite
    • HubSpot
    • Email Verifier Tool  
    • Sales Navigator

    Gingercup – Advisors and Mentors

    Mr. Rahul Shah and Mr. Sanket Gupta who happens to be the GingerCup investors and also is the mentor of the startup.

    Gingercup – Founder’s Advice

    Start fast, move fast and fail fast.

    I would like to tell my fellow entrepreneurs and readers not to rush immediately into fundraising. Rather create a real profitable business, solve real problems, and provide real products and services to real customers.

    Also, stay away from mental pollution. Maintain a good work-life balance by taking care of physical health and well being. Prioritize eating well and exercise. Only when the mind, body, and spirit are energized you will be able to get the taste of success.

    Being an entrepreneur, it’s sometimes a lonely journey. Besides, look at the brighter side. You get to do what you want and you get to do it your own way.

    Gingercup – Founder’s Productivity Hacks

    GingerCup founder Devleena Neogi shared some of her productivity hacks with us. Starting up a paper cup startup is definitely not easy. But it’s very important to keep yourself productive and organized always. The biggest productivity hack for Devleena is to strike a fine balance between his work and personal life.

    I give a lot of emphasis to self-care. Only when your mind is clutter-free can the creative juices flow. I also lead a systematic and disciplined lifestyle. My morning starts with yoga and meditation. Staying in sync with nature keeps me refreshed and helps me take on every new day with enthusiasm and confidence.

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    Gingercup – FAQ

    Who is the founder of Gingercup?

    Deepak Bansal and Devleena Neogi are the founders of Ginger cup.

    What is the business model of Gingercup?

    GingerCup outsources paper cups from third-party vendors and print advertising messages on them.

    When was the Gingercup founded?

    Gingercup was founded in 2015.

    Who are the Ginger Cup competitors?

    The Gingercup competitors are cupshup, Google and Facebook.

    What are the tools Ginger cup uses?

    The tools that GingerCup uses are

    • Google suite
    • HubSpot
    • Email Verifier Tool  
    • Sales Navigator

  • Black Money Scenario in Startup World: A Detailed Analysis

    India is the birthplace of cultural, grassroots, and frugal innovation. The population of over one billion people makes this an exciting geography for startups to build repeatable and scalable business models. The beauty of startups is that they provide their employees freedom, the opportunity to innovate and explore rather than just to engage in unproductive work. There exists black money within this rising economy of startups.

    Introduction to Black Money in Startups
    Current Scenario and Analysis of Black Money in Startup World
    How Whitewashing of Black Money is Done?
    Impact of Whitewashing Black Money on the Economy
    Black Money in Startups – Conclusion
    Black Money in Startups – FAQs

    Introduction to Black Money in Startups

    “The Indian startup ecosystem is said to be the third largest in the world having added over 1,300 tech startups in 2019. Number of Indian unicorns could increase to 95-105 by 2025,” says Nasscom president Debjani Ghosh.

    Home of the largest e-commerce deal between Walmart and Flipkart, 31 unicorns and counting, and plenty of untapped opportunities — it shouldn’t come as a surprise that India has been home to some of the biggest startup success stories. Over the years, Indian startups have found success across sectors, with startups in enterprise tech, e-commerce and travel tech grabbing global attention. There has, however, been a grey cloud spanning the growing startup industry in recent years, something we are all familiar with – black money.

    Canadian-Indian writer Rohinton Mistry says, “It is so much a part of our white economy, a tumour in the centre of the brain — try to remove it and you kill the patient. A 2015 FICCI report estimated black money in India to be as high as 75 per cent of the GDP.”

    In today’s world, it is difficult to explain how a social anomaly could appear in the world of budding talent, making the next generation soar to the highest levels of recognition and profit. This anomaly increases the need for black money in startups or businesses. The purpose of this case study is to analyze the entry of black money into the industry, the factors that influence it, and how it is being whitewashed, as well as the impact this has on our economy.

    Current Scenario and Analysis of Black Money in Startup World

    Let’s look upon the case where a reputed startup lawyer (let’s name him ‘A’) in the capital has worked with startups including two well-known hotel room aggregators, a funded media startup and few e-commerce firms. He is also involved in deals with a well-known real estate group in the country that is trying to dabble into tech startups. He gives a shocking revelation: “Some expatriate businessmen are using startup investing as a way to move black money into India.”

    Here’s the underside, suppose you have $10 million cash parked in Mauritius. You look for tech startups where you can take a majority control or create an entity that can furnish a website, an app and a small team in place. You incorporate the company as a private limited entity and also register an overseas subsidiary. Once a legal structure is in place, you start routing the overseas money into that technology company.

    The routing can happen on the seed stage – A funding round. Now to embezzle the funds, from that startup money you can buy a luxury car and other assets, pay yourself, your kin huge sums as directors. You run that company for a period of two years or more till you’ve routed all the money into India. Once done, you can simply close that startup, declaring the company bankrupt and paying off creditors and share-holders which might be your own companies. Even if they have not routed the money overseas, dabbling in startups by opening up mentorship firms has become easy and a glam route to use that money legally.

    “Am not saying all such firms are using startups as a means to turn black money into white but this glamorous route has started to be misused in India,” says A, a managing partner of the law firm, requesting anonymity.

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    How Whitewashing of Black Money is Done?

    Another lawyer (let’s name him lawyer B) who is brokering deals for a Gurgaon-based fashion app and another small hotel rooms aggregator ratifies it. His firm which specializes in transaction advisory for tech startups says that there are many ways dishonest businessmen launder.

    • An unsavory investor makes his family members the board members of that startup.
    • Other companies of the same group act as vendors to that startup and quote ridiculous prices for that service or product.
    • These investors ask for too much equity and control of the startup (often over 70%). They wish to keep their kin on board.
    • They park the money in a trust-friendly jurisdiction, such as Switzerland, before it is moved to a tax-efficient country such as Cyprus, where the taxation levels are very low or have no taxes. It is then routed to a tax-friendly country like Mauritius, before reaching the final destination in India. India has a Double Taxation Avoidance Treaty (DTAA) with Mauritius.
    • Trade mispricing is a tool used to siphon off money, plays an important role in bringing money back into India. Instead of inflating invoices, a business can under-invoice and export machinery or software. One can open a company to sell bags or a restaurant. The business may not take off, but the owner can still show cash sales of Rs 1 lakh to Rs 2 lakh a day. Slowly, but surely, all money would be legitimate one day!

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    Impact of Whitewashing Black Money on the Economy

    Along with the economic effects, black money also has social consequences. Some of them are mentioned below:-

    • Loss of revenue to the government and running of parallel economy in the country – It is the increase and spread of black money that poses a serious economic threat since it leads to a decrease in government revenues. If only some part of the black money that has been in circulation in the economy could have been paid as taxes to the government, it would have benefitted the Indian economy to a large extent.
    • Vicious circle as a result of black money and corruption – Black money has added to corruption by the illegal transactions made to hide the black money. Bribes are given by the people to bureaucrats, government officials, etc. This forms a vicious circle which is never going to end unless some serious step is taken by the government.
    • Effects on national income and real capita income– Black money is a result of revealing low income to the government while paying tax by people which results in low national income of the country. The national income of the country will take a big leap if the amount of black money in circulation is backed up to the national economy of the country. This will also increase the quality of life for the whole country.
    • Higher taxation and inflation – The main reason behind the taxation is to earn revenues for the expenditures done by the government to make a balanced budget. Therefore, it is obvious that if the amount of black money which the people are hiding from the government is revealed and included in the budget of the government then the tax rate will surely come down as the revenues which the government wants to earn from the people by imposing high taxes will already be with the government. Therefore the amount of goods and services which were there in the market according to the accounted money gets a hike in their prices which results in inflation.
    • Difficulty in the formation of monetary and fiscal policy – This is an obvious impact as the government while making these policies is not able to count the exact national income because of the hidden black money which makes such policies unrealistic.
    • Increased criminal activities in society– Black money usually gives rise to various illegal activities in society and corruption is one of them. The duration of the election is also the time when the illegal use of black money can be seen. Various terrorist activities have backup power of hoarders of black money which is even harmful to the whole country. The illegal weapons with various groups of unsocial elements are usually bought up by the use of black money.

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    Black Money in Startups – Conclusion

    The problem of black money should be solved in a real sense and a very rational manner.

    • First of all the problem is to be dealt with morally. The morals of the people in the society must be raised.
    • The tax system should be realistic in nature.
    • The authority which is responsible for the collection of taxes should be honest, without any corruption.
    • Various incentives should be given so that people voluntarily agree to disclose their real income.
    • The Economic Intelligence unit must be maintained thoroughly and should be looked after.
    • The corruption in administration must be stopped at all levels.
    • Startups should be aware of individuals who ask for higher credit in the company.
    • Limited kin involvement should be allowed.
    • The accounts must be looked after by the team and not the angel investors.

    The government alone cannot curb this issue completely from society. Making different policies, laws, acts and legislation will not work alone. For the implementation of these laws and policies, every citizen has to come forward. People should understand why it is important to pay tax and should stop evading their income and should not lead to the generation of black income. Every citizen should make some contribution to the development of the country in the form of paying taxes. By doing this, the economy will definitely decrease its black money, as well as startups will not need black money to operate.

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    Black Money in Startups – FAQs

    Why do Startups have Black Money?

    The social anomaly could appear in the world of budding talent, making the next generation soar to the highest levels of recognition and profit. This anomaly increases the need for black money in startups or businesses.

    What is Black Money?

    Black Money is the money that is earned through illegal activity and that money is not recorded for tax purposes.

    Are Startups a way to convert black money into white?

    Not always, because even startups fail. So if the startup fails, say in 2 years, then your money is gone. But it can be a way to convert black money into white. As the Startups have to pay taxes on raised money.

    Can a person convert black money into white through the stock exchange?

    No, even the money that is invested in the stock market is invested via banks. So if one breaches their bank limit, it automatically catches the eye of IT officials.

    There is no other way to convert black money into white besides paying taxes. If there would have been a way then no person has to leave their native country and roam like a fugitive.

  • How to Approach Investors for Funding for your Startup

    Starting your own business or what we call now a startup can both be overwhelming and scary. Funding is something that is needed heavily in this line or for anything you do even while organizing an event. According to a study conducted by “Forbes,” “about 10% of startups survive, despite the fact that 90% fail.” Businesses, specifically emerging companies, have a difficult time raising funds. How can you get that first investment so you may expand your business?

    When it comes to raising capital for enterprises, many entrepreneurs approach investors and pitch their idea right when they need it. The difficulty here is that why would an investor give you a huge sum of money if they have no idea who you are? There are a number of things that can help you turn your startup idea into the successful firm you’ve always imagined. In addition to working on your business idea, you are also the banker for it. You’ll need a business and a marketing strategy. Most significantly, you’ll need to learn how to raise funds and find investors.

    When looking for investment for your startup, there really are a number of options to explore. Some funding alternatives may make more sense than others depending on where your firm is in its development. Choosing an appropriate investor could make or destroy your firm, whether you’re crowdfunding or leaning toward the private investment sector.

    Approach Investors for Funding – Initial Plan of Action

    1. Early on, establish a network
    2. Know how to pitch the Idea
    3. Results speak more than Words
    4. Ask for Advice
    5. Benefit from the internet fundraising sector
    6. Get the Traditional way and take help from the Bank

    Approach Investors for Funding – Conclusion
    Approach Investors for Funding – FAQs

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    Approach Investors for Funding – Initial Plan of Action

    You can approach an investor in a few different ways to get him or her to invest in your startup. When you pitch for funding, it is essential that you have all the information about your startup, as a little misinformation may cause the rejection of the proposal for the investment.

    1. Early on, establish a network

    The sooner you begin, the better. Entrepreneurs must meet investors in the early stages of their businesses. Learn about the industry they invest in and allow them to learn about your business. This helps in building a strong network for the later stage of investment. Sending a pitch deck to them later will feel less awkward if you create an informal relationship with the investors at first. During the idea stage, most entrepreneurs’ gets a financial aid from friends and family. These are generally your constant supporters or people closest to you who want to see you succeed.

    2. Know how to pitch the Idea

    While investors may trust in your business, their investment is ultimately a means to an end – they want to profit from it. As a result, it is important to emphasize how investing in your company would benefit them directly. While pitching, have your basics in place. If you are pitching to an established company or any other businessman the easiest method to stand out and stimulate a person’s curiosity is to show them exactly how and when they’ll get their money back.

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    3. Results speak more than Words

    When you are pitching you may want to show them your initial results. It could be your business graph, potential customers or stakeholders you aim to bring in the future and how. Also building a strong team and showing them that you have a team which means business.

    4. Ask for Advice

    By proactively approaching an investor for advice initially, you may be able to build relationships with them that leads to a stronger desire to invest in your company later. It allows investors to bring out potential weaknesses in your business while also demonstrating that you value their opinion.

    5. Benefit from the internet fundraising sector

    While networking in person is crucial, your location should not be a stumbling block to securing financing. With the prominence of crowdfunding websites available like Kickstarter, Indiegogo, FuelADream, and Milaap, you’ll no longer be limited to the traditional way. More than this, try and take help from social media. Grow your firm on  Social Media. The more digital the business gets the more social attention it will get.

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    6. Get the Traditional way and take help from the Bank

    If you can secure favorable terms, traditional bank loans could be a helpful funding choice. Banks often offer the lowest interest rates on business startup loans and do not need equity in the company. Bank loans have a lengthy application process and a high credit score is required. A bank may need you to sign a personal guarantee on the loan in exceptional instances. This means that if the loan is defaulted on, they can recuperate their losses from personal assets.

    Approach Investors for Funding – Conclusion

    The argument would be that investors receive a lot of inquiries on the funding, and one approach to stand out is to have someone who they trust highlight you as worthwhile and worth paying attention to. Many investors won’t even reply to startups that don’t have a warm introduction because their deal flow is too heavy. Pause for a moment and consider how to create a ‘critical path’ for investors. This may have an impact on your future investor relationships. Ensure you get it right the first time so you don’t have to go searching for another chance.

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    Approach Investors for Funding – FAQs

    What are ways of approaching an investor to get the funding?

    Establish a network, know how to pitch an idea, show then the results, ask for advices, use internet fundraising sector, take help from bank.

    What are the different sites in internet fundraising sector?

    Kickstarter, Indiegogo, FuelADream, Milaap, Gofundme and many more.

    What is the percentage of startups that survive?

    According to a study conducted by Forbes, “about 10% of startups survive, despite the fact that 90% fail.”

  • What is Startup Visa and How can Entrepreneurs benefit from it

    During the administration of Donald Trump, the United States of America had barred a lot of Visas and had bought a lot of regulations on the immigration by the foreigners to the country. People from all around the world found it difficult to immigrate into the United States under the Trump administration.

    Recently Joe Biden has reopened the doors for the foreign entrepreneurs through startup visas. Let’s look at what exactly is a startup visa.

    What is Startup Visa
    Eligibility for Startup Visa
    Views on IER
    Immigrant Entrepreneurs in the US
    Other advantages of the Startup Visa
    How will it affect US Economy
    FAQ

    What is Startup Visa

    The door for the foreign entrepreneurs to enter the United States of America has been reopened under the administration of Joe Biden. The US Department of Homeland Security (DHS) had announced that it is withdrawing a proposed rule which was issued under the administration of Trump.

    The withdrawn proposed rule was to remove the International Entrepreneur Rule (IER) which is more commonly known as the Startup visa programme.

    IER is also known as startup visa. This will act as a permit for the foreign entrepreneurs to enter the country and stay in the country for a period of 2.5 years and also has a possibility of another extension for a similar period of time.

    Eligibility for Startup Visa

    IER or the Startup visa will let entrepreneurs who are qualified which will be based on certain conditions such as funds raised which should be a minimum of USD 250,000 if it is from a qualified US investor or USD 100,000 which should be through government grants.

    If they meet the above criteria the entrepreneurs will obtain the immigration parole. The immigration parole will let the entrepreneurs to temporarily enter the country to stay, build and develop their startup even without having a green card or a working visa.

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    Top Countries with most number of Startups
    Top Countries with most number of Startups

    Views on IER

    DHS has stated that the withdrawal of the policy is an effort of the Biden’s administration to ensure that all the ways available under the law should be available for the ones who are trying to come to the US which includes the qualified entrepreneurs who would come to the US grow their startups that would benefit the country by growing their business and creating new jobs for the workers.

    Fiona McEntee who is a Chicago based immigration attorney has conveyed that, she is thrilled that the Biden administration has decided to implement the IER and added that the current immigration system does not provide an option for the foreign entrepreneurs to enter the Country which provides a competitive disadvantage and IER is expected to fill that gap. She added that the country will have to do what it can in order to retain the innovative immigrant entrepreneurs.

    Immigrant Entrepreneurs in the US

    Bobby Franklin who is the President and CEO of the National Venture Capital Association has said that the immigrant entrepreneurs in the country have made huge contributions to the economy of the US. The entrepreneurs have created some of the major companies in the country such as Moderna and Pfizer which have successfully developed vaccines for Covid-19.

    He added that by implementing IER the Biden Administration has unlocked a way for job creation which would help US in remaining as a global leader in innovation.

    Other advantages of the Startup Visa

    The foreign entrepreneurs even the ones from India will have an added advantage because of IER. Other than the advanced technology that is available in the United States even when the founders of the company are present in the same country, the US investors would have a comfort level.

    Hence, with a US base, the access for funding and the future for the growth of startups especially the tech-based startups would be much more easier. It is a win-win situation for both the parties.

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    How will it affect US Economy

    According to an early representation made by the National Venture Capital Association and other associations to the DHS, the IER is expected to create more than 4.29 lakh jobs in the first 10 years which would account for more than USD 25 billion in the form of additional wages and will also inject the indirect value of around USD 18 billion to the US economy.

    FAQ

    Which countries have startup visa?

    Australia, Austria, Canada, Chile, Denmark, Estonia and France are some of the top countries that have Startup Visa.

    Which country is best for entrepreneurs?

    Japan, Germany, United States, and United Kingdom are some of the best countries for entrepreneurs.

    Which country has most successful startups?

    United States, China, India, and UK are some of the countries with most Unicorn startups.

    Conclusion

    Countries such as Canada, UK and Israel already have a separate category of visas for foreign entrepreneurs. The IER was originally created at the end of Obama’s administration but was later stopped under the Trump administration.

  • Top 10 Startup Incubators and Accelerators in Sydney

    Sydney, the city with an incredible startup culture. When it comes to startup business, Sydney carries great tools for the growth of it. There are numerous amazing incubators around Sydney. As for new business, approaching a good incubator gets you some great benefits ahead.

    For a startup, you should always seek more opportunity for your business in early stage as much as you can. An early-stage help will take you to great heights and incubators are meant for potentials. Choosing the right potential incubator for your business becomes very tacky and requires some serious study.

    Through this article, we tend to ease that part for you. For those living in Sydney, we present some well-researched incubators that would work best with your startup business. These startup incubators are:

    Cicada Innovations
    BlueChilli
    PushStart
    ATP Innovations
    25fifteen
    Fishburners
    Springboard
    Tyro FinTech Hub
    Stone and Chalk
    Slingshot
    FAQ

    Cicada Innovations

    This tremendous startup incubator is established and shaped by Australia’s four leading universities which are; University of Sydney, Australian National University, University of technology and Sydney, and University of New South Wales. Cicada Innovations have been awarded with Global Incubator of the Year 2018.

    This startup incubator works for those companies which are involved in agriculture They offer,

    • Access to prototyping labs for testing your technology
    • Growlab and Medlab (Major programs)
    • Transform agriculture and healthcare sectors

    BlueChilli

    BlueChilli is quite famous around Sydney for its tremendous performance by investing, building and growing new tech startups. It has its headquarter in Sydney, San Francisco, Brisbane, and Melbourne.

    BlueChilli Website
    BlueChilli Website

    However, it usually works with non-technical investors, entrepreneurs and potential customers. BlueChilli observed that Sydney is quite behind when it comes to experienced developers and engineers for the commercialisation of the city. That’s why they work with the non-technical ones to provide them with proper advisory on the technical handles.

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    PushStart

    PushStart is a Sydney-based incubator for startups. community-based a three-month community based program that focuses on tech startups. PushStart mainly provides over $20,000 cash, office space and 8%-10% for common equity services. It accepts around 10 teams and includes founders of Spreets, Freelancer, DesignCrowd and Posse.

    Besides it provides seal offers like Investors Day as to present to the angels and VCs. PushStart is an incredible incubator startup that provides tons of benefits to the startup.

    ATP Innovations

    ATP Innovations is quite a prominent incubator around Sydney and other places as well. It holds a well-established and experienced business builder’s team. ATP Innovations works on the highest growth and enhances the chance of success for the business to make them more prominent and transform into a technology business.

    This startup incubator works with around 80 businesses and raised over $121 million through it. They focus more on these initiatives,

    • Developing new products
    • Building strong team
    • Growing revenue
    • Selling and accessing businesses
    • Raising capital

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    25fifteen

    25fifteen has always been amazing with its work performance as an incubator. For a long time, it has been serving startups and making their business grow profitably. They mainly focus on addressing issues related to Australia, Sydney and creating and building some successful businesses.

    25fifteen has formed a great team filled with experienced and great entrepreneurs and veterans of industries. They also have a vast network connection of business and access to capital.

    They connect with the co-founders or different internal and external projects to build up a successful startup business with good profitable gains.

    They usually work with external entrepreneurs who have rich knowledge on projects which are founded internally in the business. This is done after the training gained by the business on the certain project. 25fifteen is an amazing incubator with great team management and results in some great outcomes.

    Fishburners

    Fishburners comes with great space for the startup to grow. It mainly focuses on assistance with the working space so that the startup could get its time and space to develop smoothly.

    They offer certain working spaces by different slots based on daily, full-time or part-time, whatever suits the customers and clients. Fishburners work through a network formation and certain motivation so that the business would grow at great heights.

    Fishburners usually formulate a communal network through different entrepreneur and businesses working space, for sharing their experiences as well as skills and qualities. This ensures that the startup gets through different regions of marketing.

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    Springboard

    Springboard Enterprises also known as SBE usually works for the female entrepreneurs who seek investment and support for their startups. It mainly focuses on providing the right guidance and advisory to the female entrepreneurs for the development of their startups. It connects through certain networking events to provide facilities for strategy boost.

    Springboard helps female entrepreneurs to get proper funding or investment for the advancement of their business and reach the network of businesses, investors, women business leaders, and domain experts. It tends to make those startup companies grow which are led by women along with their team of innovators, investors and influencers.

    Tyro FinTech Hub

    YBF Website
    YBF Website

    Tyro FinTech Hub (Now known as YBF)  is quite famous and prominent around the whole of Australia. It is located at the core heart of Australia, Sydney. It works with several startups companies to make their growth remarkable in the market.

    Tyro FinTech headquarter is located in Sydney’s financial district around the modernist building.

    It looks after its clients very adequately and comes out with great results. The outlook of Tyro FinTech Hub is very fascinating with the architect-designed fitout and the floorplan.

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    Stone and Chalk

    Stone and chalk are known for their tremendous performance in the market. It mainly focuses on Fintech startups and results with great success. Stone and Chalk was founded in the year 2015 and located in the core of Sydney. It offers several time-spaces such as full-time and part-time incubation.

    Stone and chalk focus on those startups from Australia and Asia. For a long time, numerous companies have been a part of this incubator program and reach success with incredible performances.

    Slingshot

    Slingshot is a very prominent incubator around Australia, Sydney. It mainly works for the corporate sectors of a startup. It offers several corporate programs for the company to develop with some incredibly ingenious ideas and come out with great results. Slingshot provides the right advisory and mentors so that the startup business could get guidance through an experienced panel. It also gives several opportunities to work with the large Australian corporates for investment and marketable purposes.

    FAQ

    What’s a startup incubator?

    A startup incubator is a collaborative program whose purpose is to help new startups that are at a very early stage to grow and succeed.

    How do incubators help startups?

    Incubators are an organization, platform or team of experienced professionals that helps startups bootstrap during its early stages and often provides mentoring, guidance, and co-working space‌‌‌‌.

    How do startup accelerators make money?

    Startup accelerators offer seed money in exchange for equity in the company.

    Conclusion

    For the initial stage of any startup, proper guidance is very important. It keeps modifying your startup to beat up with the competitors and build your name in the market. Incubators provide you with these facilities and guidance. Through this article, we provided you with the top startup incubators in Sydney. This would be very beneficial for you to make a reasonable choice.

    Sydney is known for its incredible culture to encourage these startups. Therefore, this city has some great startups to go for.

  • Common Problems Entrepreneurs Face and The Truth About Startup Life

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

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

    Problems Faced By Entrepreneurs
    Brutal Truths About Startup Life

    Problems Faced By Entrepreneurs

    Getting First 10 Clients

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

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

    Marketing

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

    Startup Marketing
    Startup Marketing

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

    Lack Of Experience

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

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

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    Finding A Business Partner

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

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

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

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

    Facing The Awkwardness

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

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

    Brutal Truths About Startup Life

    The Depression

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

    Getting Backstabbed

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

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

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    You Will Fail

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

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

    You Will Face Hate

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

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

    “All Because Of You!”

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

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

    Conclusion

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

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

  • E-plane – A Company Leading Air Taxi Startup Race in India

    Traveling through Indian roadways raises a lot of concerns especially intracity travels. The urban cities in India have a lot of traffic, infrastructure problems which are bad roads, an increase in population, etc. All these make road transport a hurdle and reaching a place on time harder.

    In order to solve the issues faced due to traffics and bad infrastructure in the country, the Chennai-based e-plane company is in the process of developing an Air Taxi which would take the aerial route.

    Ubifly Technologies Private Limited was founded in the year 2016. The company is better known as the e-plane company and was founded by Satyanarayanan Chakravarthy and Panjal Mehta.

    Founders of The e-plane Company
    Aim of The e-plane Company
    The e-plane Company Funding
    UAV models
    Supervision Free Flights
    Commercial drone market of India
    Future plans of The e-plane company
    FAQ

    Founders of The e-plane Company

    Panjal Mehta is an alumnus of IIT Madras and a student of Satyanarayanan. Satyanarayanan is the co-founder and CTO of the company. He was a professor in IIT Madras teaching aerospace engineering since 1998. He is also the head of the Centre for Propulsion Technology and the head of the National Centre for Combustion Research and Development Lab (NCCRD).

    Pranjal Mehta with Prof.Satyanarayanan
    Pranjal Mehta(Left) with Prof.Satyanarayanan

    One of the major reasons that led to the launch of the company was his study on propulsion. Panjal Mehta was involved in working towards building a short-distance daily flying vehicle.

    Aim of The e-plane Company

    Satyanarayanan has explained that the main aim of the startup is to redefine intracity traveling in the country. The company will concentrate on developing electric planes and unmanned aerial vehicles (UAV). This will mainly be concentrated on short-range intracity travels.

    He also says that the products developed by the startup will be different and unique in nature. The company is building a hybrid mix of drones and electric aeroplane technology.

    He gave an explanation saying that the vehicles will take off and land similar to a drone but will move forward in the air like an electric aeroplane.

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    The e-plane Company Funding

    4th Dec 2020 – The e-plane Company raised an undisclosed amount of funding led by Speciale Invest.

    3 March, 2021 – The ePlane Company raised a funding of $1M from Naval Ravikant, as a part of its seed funding round.

    UAV models

    Satyanarayanan who is the co-founder has revealed that the startup has already designed three UAV models.

    Ek Hanz

    The first product developed by the company is TEC’s Ek Hanz. It is a UAV model is designed especially for delivering goods and services. It can carry up to 6kgs of load and will be able to fly continuously for 100 km at a speed of 50 km/hr.

    Ek Hanz by the e-plane company
    Ek Hanz by the e-plane company

    Scout

    The next product of the company is Scout. It is a drone that is designed and developed mainly for surveillance and security purposes. This drone has a powerful onboard processor and also has a long-lasting battery. This will ensure proper surveillance during certain crises.

    Vayu

    The company is also in the process of developing a hybrid auto-pilot e-plane which will be called as Vayu. This model is also developed for surveillance, but it will be concentrated on operating in larger areas. The main feature of Vayu is that it is smaller than Ek Hanz and Scout, but will fly continuously for more than 2 hours in a single charge.

    Air taxi

    The company is also working towards building a two-seater electric air taxi which is named as e200. This will concentrate on office goers who travel on a regular basis to work.

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    Supervision Free Flights

    The startup has claimed that its copyrighted ML algorithms will enable their flights to travel through the air without supervision. The vehicle would take off and land like a drone with just a push of a button and the vehicle will move forward like a plane.

    It is said that their air vehicle will automatically be able to detect any obstacles which come on their way such as trees, electric poles, etc. to ensure a safe flight. Hence, the air vehicle wouldn’t require supervision.

    Commercial drone market of India

    India’s commercial drone market is expected to grow at a CAGR of 12.4 percent in 2020-2026 according to a report by Research and Markets. The report has also added that the growth in the use of drones has been increased because of the Covid-19 outbreak globally.

    As of now, the majority of drones are being used for surveillance and mapping. The outbreak of Covid-19 in the country has made a realization of the importance of drones for deliveries.

    In June 2020, 13 companies were allowed to conduct trials which were let by the Directorate General of the Civil Aviation (DGCA). This trial was conducted to check the possibility of using drones for delivering medicines and other necessary goods and services.

    Future plans of The e-plane company

    Satyanarayanan has explained that the startup is not working towards or focused on building drones but is aiming towards building and developing electric planes or Air taxi for intercity transportations. They are working towards building electric planes which will be the future of intracity travel.

    The co-founder had said that the company is currently building a two-seater e-plane. This will be concentrated on working as an Air taxi. He said that the company will take at least 2 years to build the aircraft and some more years to receive permission from the aviation industry.

    FAQ

    What does Air Taxi mean?

    Air taxis are a small commercial airplane used for short flights between localities.

    Which company is going to start drone air taxi service in India?

    Malaysian budget airline AirAsia is planning to launch a flying-taxi business as soon as next year.

    Does Dubai have flying Air taxi?

    Dubai has one of the first major project of Air taxi, The Autonomous Air Taxi (AAT) is an 18-rotor drone taxi. The company claims to be the world’s first ‘self-flying taxi service’.

    Conclusion

    India could soon join the race towards devising better ways of transportation. As The e-plane company is working towards building a two-seater electric air taxi which is named as e200. This will concentrate on office goers who travel on a regular basis to work. The startup is also working towards raising external funding.

  • What is Amazon Mentor Programme and How Startups and Entrepreneurs can benefit from it

    Amazon.com Inc is an American based multinational technology company. It was founded in the year 1994. The company is located in Washington. It focuses on e-commerce, cloud computing, artificial intelligence and digital streaming. It is one of the big five companies in the U.S IT industry.

    Amazon is one of the largest e-commerce companies in India. Let’s look at the below article to understand the new Amazon’s Mentor Programme and the benefit from it.

    Amazon Mentor Connect Programme
    Aim of the Amazon Mentor Connect programme
    What will the Mentor Connect Programme Offer
    FAQ

    Amazon Mentor Connect Programme

    On 11 April 2021, Amazon India had announced the launch of its Mentor Connect programme. The aim of the Mentor connect programme is to accelerate the growth of startups in the country. It also focuses on accelerating the growth of the emerging brand owners as well.

    The brand owners and the emerging startups will have to enroll under the Amazon Launchpad initiative. The Amazon Mentor Connect programme will not just be limited to the startups and the emerging brands. It will also be extended to the winners of the entrepreneurship challenge which is hosted by Amazon called as Amazon Sambhav Summit.

    The second edition of the entrepreneurship challenge Amazon Sambhav is said to be hosted from 15 April 2021 to 18 April 2021.

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    Aim of the Amazon Mentor Connect programme

    The aim of the Amazon Mentor Connect programme is to create a system to support and help the startups. It aims at helping startups in unlocking their potential by providing them with proper guidance and mentorship. This will help them in scaling their business, avoiding blind spots, to learn from the experienced industry leaders, etc.

    The programme will focus on opening new doors and will help the startups in identifying and unlocking infinite possibilities which will increase the possibilities for a Digital India said Amazon India director Pranav Bhasin who has experience in the MSME sector and Selling Partner Experience.

    He also added on saying that India has a large Startup ecosystem which is the key to disruptive innovation. This ecosystem is expected to accelerate India’s progress towards an Atmanirbhar Bharat.

    Pranav Bhasin has said that most of the startups are led by first time entrepreneurs who are driven by the passion to drive a change in the market. But most of them have no much experience to deal with the challenges and hardships they have to face along the way.

    Amazon India Director, Pranav Bhasin said.
    Amazon India Director, Pranav Bhasin 

    Prayag Mohanty who is the Senior Vice President at Fireside Ventures said that the company has been looking to understand the grassroots level challenges, identifying trends and trying different ways to solve the problems that are faced by the emerging brands and startups.

    He also added on saying that other than that Venture Capital’s like them are always looking for opportunities in order to meet the new and upcoming brands.

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    What will the Mentor Connect Programme Offer

    The programme will offer startups and emerging brands to gain access to the guidance from Venture Capitalists, industry experts and Amazon leaders. The startups and emerging brands will get a chance to know the expert knowledge by sharing sessions, networking events and 1:1 mentorship sessions.

    Amazon has already confirmed that mentors from educational institutions and VC firms like Fireside Ventures, Elevation Capital, Tomorrow Capital and DSG Consumer Partners for contributing to the Indian startup ecosystem.

    The startups and emerging brands can get a chance to access guidance from all these mentors through various other ways. This would include one-to-one mentorship with chosen mentors for over a period of three months.

    The members of the programme will also get networking opportunities with a wider range of industry experts and can even have knowledge sharing sessions between these experts and other Launchpad brands.

    The platform also offers the startup operators to showcase their startups, engage and learn with the Industry’s leading expert in their respective subject matters and also helps them in tackling strategic and functional challenges.

    The Amazon launchpad has currently showcased over 2 lakh products which are offered by more than 800 brands that are emerging from across 30 different product categories. The popular sectors that are showcased by these brands include health and personal care, grocery and home products, beauty and grooming, etc.

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    FAQ

    What are the four stages of mentoring?

    Successful mentoring go through four phases, preparation, negotiating, enabling growth, and closure.

    How long should a mentorship program last?

    The minimum amount of time a mentoring relationship or program must last is 6 months but there is no maximum.

    What are some examples of mentoring goals?

    Leadership skills, Confidence skills, Public speaking/presentation skills, and Life/work balance are some examples of mentoring goals.

    Conclusion

    Amazon’s mentor programme will be a great initiative for the company to grow and develop the startup ecosystem in the country. It will be one of the best platforms for the startups and emerging brands to get the exposure they require to develop their startup.

  • How will Atmanirbhar Digital India Foundation benefit startups

    Atmanirbhar Digital India Foundation (ADIF) is a body formed by a group of Indian investors and startup founders. They have joined hands together to set up a new alliance.

    This body is also expected to in the creation of sustainable development and growth in the digital economy in the country by interacting with the government and regulators on the policy framework that is required.

    The main objective of the Atmanirbhar Digital India Foundation is to join together and break the dominance of foreign internet giants like Google.

    Reason for Atmanirbhar Digital India Foundation
    Focus of Atmanirbhar Digital India Foundation
    Members of Atmanirbhar Digital India Foundation
    Plans of Atmanirbhar Digital India Foundation
    FAQ

    Reason for Atmanirbhar Digital India Foundation

    The body was set up when the Indian startups were dissatisfied and were against the new billing policy of Google. According to the new policy, Google has made it mandatory for Indian developers who use Google Play to pay 30% commission for every in-app purchase.

    This had led to a debate in the Indian Technology ecosystem. Several Indian founders have accused Google saying that it was abusing its dominance in the market.

    Focus of Atmanirbhar Digital India Foundation

    In a statement from the committee of Atmanirbhar Digital India Foundation (ADIF), it has said that the association will concentrate and will be committed towards building a technology ecosystem that will be open, fair, neutral, and self-reliant.

    Atmanirbhar Digital India Foundation (ADIF) as a representative body for the Indian technological startups will also ensure the growth and development of the digital economy of the country.

    The body will focus on including all the technology companies and building a sustainable economy for providing solutions in the country that can also be used globally.

    Members of Atmanirbhar Digital India Foundation

    The body mainly has individuals who are Indian startup owners or investors. The members of the association include Ajay Data who is the Managing Director of Data Group of Industries, Ritesh Mallik who is the Founder at Innov8 Coworking, Sairee Chahal who is the Founder & CEO of SHEROES, Snehil Khanor who is the Co-founder and CEO of TrulyMadly.

    Ajay Data
    Ajay Data

    The body also includes Anand Lunia who is the Founding Partner of India Quotient, Amit Sinha who is the Co-Founder – Unnati. Shailesh Vikram Singh who is the Managing Partner of Massive Fund, Murugavel Janakiraman who is the Founder and CEO of Matrimony.com.

    Ajay Data, the Secretary-General of ADIF has said that, ADIF’s main aim is to help the Indian Technological companies in building a sustainable and favorable business environment.

    Plans of Atmanirbhar Digital India Foundation

    ADIF has plans to work together with Indian and Global research experts. Their focus is to understand the possibility for the growth of Indian technological startups.

    Barriers

    They are also focusing on empowering the ecosystem by trying to remove the barriers and difficulties faced by the Indian technological startups at the entry-level. This will help the Indian companies to grow, expand, develop and become self-sustainable.

    Membership

    ADIF is also planning to open in the top 25 cities in the coming months. They are also focusing on increasing their membership in Tier-I and Tier-II cities. They also plan to cover the rest of the Indian towns.

    Policies

    The organization is working towards assisting in the creation of policies with the regulators thinking about the future and being able to do business in an easier way. They aim to make India as the top destination for capital and innovation. Atmanirbhar Digital India Foundation has said that they would want to become the voice of entrepreneurs in respect to the policymakers and regulators.

    Knowledge hub

    Atmanirbhar Digital India Foundation is expected to create a knowledge hub and a central location in which the resources for building digital products and services will be stored. They expect more than 1,000 members to join their trust.

    FAQ

    Who are the members of Atmanirbhar Digital India Foundation?

    The members include Murugavel Janakiraman of Bharat Matrimony, Snehil Khanor of TrulyMadly, Dr Ritesh Mallik of Innov8 Coworking and Sairee Chahal of SHEROES, among others.

    What is the focus of Atmanirbhar Digital India Foundation?

    The focus of Atmanirbhar Digital India Foundation is to build an association that will concentrate and will be committed towards building a technology ecosystem that will be open, fair, neutral, and self-reliant.

    Why was Atmanirbhar Digital India Foundation founded?

    Indian startups were against the new billing policy of Google. According to policy Indian developers who use Google Play to pay 30% commission for every in-app purchase.

    Conclusion

    A fully foreign-dominated organization that does not have an Indian in their decision-making process will not be part of Atmanirbhar Digital India Foundation. The organization has been set up as a trust and will concentrate on entry-level Indian Technology companies.

    However, they are yet to be finalized with certain definitions. They are planning to start the onboarding soon. ADIF has said that there will be elections soon in order to appoint formal positions in the Trust.

  • Acquisitions of Indian Startups by its Competitor

    What do you mean by the term Acquisitions? On what metrics the company acquires other companies? Is acquiring other competitor companies legal? Which are some of the latest acquired companies? Interesting isn’t it?

    According to Investopedia, the definition of Acquisitions is as follows-

    An acquisition is when one company purchases most or all of another company’s shares to gain control of that company.

    Acquisitions, which are very common in business, may occur with the target company’s approval, or in spite of its disapproval. Some of the parameters needed to be checked before acquiring a company. These metrics should be followed before evaluating an acquisition- Financial value of the company, Asset value of the company, Possible resale value of the company, and its assets.

    Read this article to know more about the common questions related to startup acquisitions. We have listed down some of the latest and deal-breaking acquisitions in the Indian Startup Ecosystem.

    Top Indian Startup Acquisitions
    1. Walmart acquires Flipkart
    2. Snapdeal acquires FreeCharge
    3. Tata motors acquire Jaguar and Land Rover
    4. Flipkart acquires Myntra
    5. Ola acquires TaxiForSure
    6. Zomato acquires Urbanspoon
    7. MakeMyTrip acquires MyGola
    FAQ’s
    Conclusion

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    Top Indian Startup Acquisitions

    India, the 3rd largest startup hub in the world is home to many new startups. Every other day we hear about new startups coming up in India. With all these new startups coming up every other day, the competition increases. This leads to acquisitions. The strong prey on the weak or the potential competitor. Recently, the Walmart-Flipkart merger in mid-2018 is the first breakthrough in the minds of many. From a country’s M&As (mergers & acquisitions) viewpoint, this acquisition has been a milestone and still has an ecosystem impact. If the sale was the horse rider or the fact that the ecosystem was more M&A safeguarded, the overall fusions and acquisitions this year have decreased.

    As we approach the mid of 2021, there are sudden reports of potential acquisitions and exits in the Indian startup ecosystem. Some of India’s largest startups have made many acquisitions to grow their footprint, grab a larger market share or endure growing competition from competitors, including Tata Motors, Zomato, Snapdeal, Flipkart, and others.

    1. Walmart acquires Flipkart

    Flipkart and Walmart Logo
    Flipkart and Walmart Logo

    With the American retail giant investing 16 billion worth, Walmart‘s takeover of Flipkart is the first-ever in India. But this acquisition was not the country’s first major takeover we saw. Here is a list of some of India’s major fusions and acquisitions. In 2018, Walmart purchased Flipkart 77 percent for $16 billion. This makes it India’s largest acquisition.

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    2. Snapdeal acquires FreeCharge

    Snapdeal and FreeCharge Logo
    Snapdeal and FreeCharge Logo

    In April 2015, Snapdeal acquired the Freecharge smartphone recharge service. It was valued at $400 million for the cash plus equity deal and the largest takeover in Indian internet business history. The partnership brought in about approx. $1.1 billion in financing from Snapdeal, and $120 million from Freecharge in particular. Freecharge remained a separate company after the takeover, allowing Snapdeal to grow its digital trading ecosystem. Snapdeal has had several major acquisitions last year: In the center of this move, China’s giant Alibaba took an interest in Indian eCommerce in Snapdeal.

    Sandeep Tandon | Co-founder of FreeCharge | Managing Director at Tandon Group |
    Sandeep Tandon is a Technology Entrepreneur, Investor and a Mentor. He is the Co-founder at one of India’s first mobile payment platform, FreeCharge[/freecharge-best-deals-cashbacks/]. He also serves as the Managing Director of Tandon Group, a technology catalyst that owns numerous businesses by …
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    3. Tata motors acquire Jaguar and Land Rover

    Tata Motors, Jaguar and Land Rover Logo
    Tata Motors, Jaguar and Land Rover Logo

    As announced on March 26th, Tata Motors purchased the Ford Motor Company’s Jaguar Land Rover companies from the company for a net amount of $2.3 billion. In the Jaguar Land Rover pension plans, Ford contributed around US$600 million. Mr. Ratan N. Tata, Chief Operating Officer of the Tata Sons and the Chief Financial Officer of the Ford Motor Group, Don Leclair and Mr. Lewis Booth, Executive Vice-Chairman of the Ford of Europe Motor Company and Mr. La Jaguar La Tata Motors attended this ceremony at the Gaydon headquarters at the Jaguar Land Rover.

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    4. Flipkart acquires Myntra

    Flipkart and Myntra Logo
    Flipkart and Myntra Logo

    In May 2014, after months of rumors, India’s leading e-commerce company Flipkart acquired a trendy rival Myntra, a development that had to do with the increasing presence of Amazon in India. None of the parties verified the acquisition’s exact valuation, but sources placed the cash and equity transaction between 300 and 330 million dollars.

    Flipkart launched as a supermarket in 2007, offering apparel and electronics in all categories. It also offers furnishings and white products. The change is anticipated to help Flipkart reinforce its clothes collection and contend with Amazon and Snapdeal more vigorously. With his co-founder and CEO Mukesh Bansal joining Flipkart and running the apparel company, Myntra will continue to run as an autonomous entity.

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    5. Ola acquires TaxiForSure

    Ola and TaxiForSure Logo
    Ola and TaxiForSure Logo

    Ola, one of India’s largest ride-hailing operation, acquired TaxiForSure for $200 million as a smaller, but value-centric, cash and equity acquisition in March 2015. Ola’s footprint in the country has been extended by adding TaxiForSure’s 15,000+ fleet onto its network across 47 cities. In October 2014, Ola raised SoftBank $210 million in addition to the 41,5 million dollars it raised earlier, adding over a quarter-billion dollars in overall financing in 2014. When TaxiForSure was acquired, it had 15,000 vehicles in 47 cities on our network a few months after the launch of Ola in January 2011. In India, it has recently been an upright battle between Uber and Ola, who have joined Didi Kuaidi, GrabTaxi, and Lyft globally.

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    6. Zomato acquires Urbanspoon

    Zomato and Urbanspoon Logo
    Zomato and Urbanspoon Logo

    In January 2015, Zomato purchased a 50 million dollar US competitor, Urbanspoon, at what was one of the highest offshore transactions for an Indian startup. The purchase marked Zomato‘s visit to the US, Canada which Australia, and took over 22 countries around the world. The takeover signals the entrance of Zomato in the USA. This is the sixth and largest purchase of Zomato in the last six months. The purchase will rise from 300,000 to 1.000,000 restaurants globally more than three times the inventory of Zomato’s Restaurant. In the coming months, Urbanspoon will pass onto Zomato.com, and the Zomato software will be used by all Urbanspoon app users. Zomato increased the overall amount of venture funds raised by the firm to $113 million from Sequoia, Knowledge Edge, and Vy Capital in November.

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    7. MakeMyTrip acquires MyGola

    MakeMyTrip and Mygola Logo
    MakeMyTrip and Mygola Logo

    A leader among India’s travel reservation sides was the Nasdaq-listed MakeMyTrip, a pioneer in Indian tourism reservation – which was funded by investors such as Helion Venture Partner, 500 Partners, and Blumberg Capital at the last minute. Mygola, founded by IIT Mumbai in 2009, says travelers can create customs journeys in 15 minutes by using Bapna and Prateek Sharma. It has up to 5000 installations in the Google Playstore on Android and is present in 16 cities worldwide. The acquisition happens as Indian travel is heating up, as an investment in 2015, for the most part, early-stage, has crossed 71 million dollars, compared to 55 million dollars in all of 2014 (about 440 crores).

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    FAQ’s

    Let’s discuss some of the frequently asked questions (FAQ’s)  related to startup ecosystem..

    What do you mean by the term Acquisitions?

    An acquisition is when one company purchases most or all of another company’s shares to gain control of that company. Acquisitions, which are very common in business, may occur with the target company’s approval, or in spite of its disapproval.

    On what metrics the company acquires other companies?

    These metrics should be followed before evaluating an acquisition- Financial value of the company, Asset value of the company, Possible resale value of the company, and its assets.

    Acquisitions, which are very common in business, may occur with the target company’s approval, or in spite of its disapproval.

    Which are some of the latest acquired companies?

    Larsen and Toubro Ltd (L&T) gained a controlling interest in Mindtree Ltd, raising its stake to 60% in the Bengaluru-based company on 27 June 2019 and successfully concluding India’s first hostile takeover of an IT company.

    How do startups get acquired?

    The startups that last usually get acquired for their market share before they hit those numbers. Intellectual property is the most common way to build a defensible product. In fact, many startups with a proprietary product get acquired before they even take their solution to the market.

    How long does a startup acquisition take?

    Corporate mergers and acquisitions can vary considerably in the time they take to be completed. This length of time may span from six months to several years. There are a number of individual steps that need to be completed successfully by two public companies before they are legally combined into a single entity.

    Conclusion

    Startup acquisitions happened in the past and will keep happening in the future. If there is a slight possibility that the competitor can be a problem in a long run then acquisitions will happen for sure. Investors will keep looking for further IPOs, new firms and acquisitions from publicly traded companies in the subsequent year as the number of acquisitions, and their scale in India is growing. Up until now, they have relied primarily on other startup acquisitions. As the Indian startup ecosystem continues to expand and draw more foreign interest, the value of M&A transactions in the country can only be projected to rise in the coming years accordingly.

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