This article was contributed by Roopa Kumar, Co-founder Purple Quarter.
It wasn’t that long back when top-rated companies were vying with each other to hire the best CEO. Fast forward to the present economy where technology dominates, and one in which the CTO (Chief Technical Officer) has taken the center stage. Finding the right talent can be nothing short of an unending odyssey in a country like India. The demand for a CTO is a recent phenomenon in the Indian job market and when there does seem to be an avenue of opportunity, companies and recruiting bodies hit a dead end when it comes to finding the right talent. Companies often face limitations due to a dearth of experience and leadership capabilities.
Getting matched with the ideal CTO is as tough as discovering a rare pearl in an oyster. But, if you do, then there’s nothing that can hinder your firm from shuttling towards success. There are several reasons for this, of course. Thought leaders and industry experts across the globe agree on the fact that CTOs are the connecting factor between firms and their customers. As a C-level executive in the upper echelon of a company’s organization, on par with the Chief Commercial Officer, Chief Operating Officer, and Chief Financial Officer, the CTO is majorly responsible for spearheading a company’s innovation and technology growth story.
“I think the CTO can be the glue between technology implementation and product strategy, and can sort of make things really come together and come to life in a way that you don’t see in a lot of organizations today”, said by Matt Mead, CTO of Chicago-based digital consultancy company SPR
As the years progress with new and innovative technologies consistently entering the market, the CTO’s role calls for constant updates and improvements. A symbiotic relationship exists between the CTO and technology which needs to evolve accordingly. In today’s digital age, CTOs aren’t just tech administrators who handle the backend of a business’s functioning; they are tech gurus on the front lines, envisioning, and spearheading newer and improved technological processes to help write a company’s success story.
The CTO (Chief Technical Officer) and understands technology but expresses it through the language of business. The CEO (Chief Executive Officer) is the face of the company and the CTO lends a helping hand to him/her when it comes to the technical aspects of the organization. Unless the technical strengths of a company could be understood by all, it simply goes down the drain. Steve Wozniak and Steve Jobs were both essential to the success of Apple, but Wozniak was smart enough to realize that he was not the front man for the company; he was the genius behind the products. Every company needs a strong technological edifice, and for that, one needs stalwart CTOs. The CTO is primarily responsible for transforming big ideas into sound strategies and products that can be easily used by customers.
How to Hire CTO
The CTO, the person who is in charge of a company’s technology strategy, will evolve into the CEO of tomorrow.
As companies become tech savvy, the CEO will inevitably perform the role of a CTO as well. The CTO needs to align technology with the business strategy and bridge any gap between the two. In future, CEOs—like the CTOs of today—will have to understand how technology is going to affect their business and the broader scope of it in general. CEOs have to be business-focused. They need to expertise in productivity, strategy, revenue growth and security. It’s no surprise that present generation CTOs already have these skills imbibed in them.
CTO must possess both technical and business skills, which are necessary in leading organisations further into the digital economy.
The Chief Technology Officer’s role is the highest position of responsibility within a company that leads the technology or engineering department. He develops policies and procedures to enhance products or services focusing on the client base. The CTO also develops strategies to increase revenue and performs a cost-benefit analysis and return-on-investment analysis.
Finding the right CTO isn’t a herculean task in today’s job market. We’ve listed out a four process approach to get the job done:
Be specific and chart the company’s road map Be unabashed about the responsibilities your desired CTO will have to fulfill. If it’s going to be a demanding role, then you need to be honest and say so. Define the current position of your organization, where it needs to be, and why being a part of that journey can be a fulfilling experience professionally. Have a candid conversation about this when you interview potential candidates, or you can even state them in the job description. Trust us, this is the ideal hook to attract the right kind of candidates. Leadership capabilities are one of the most sought after skills. Your CTO will be managing the tech department of the organization. To meet this requirement, the ideal candidate should ideally have prior experience in a similar capacity. They need to be quick thinkers who can think on their feet and tackle situations with the best strategies. They must assist in actualizing the vision of the company. They need to be chameleons who can adapt to their ever changing role as per the company’s policies, vision, and business models (as and when these upscale). Efficient use of technological resources, implementing new infrastructures to scale a company’s profit margins are some of the winning qualities that define the ideal CTO.
Sell the role Finding the right CTO is like unearthing a gem. You will face stiff competition from several companies vying for the same candidate. You need to avoid selling yourself short in this scenario. Work your salesman skills and shoo the candidate into your Firm. List out the company’s USPs during the interview process. Talk about the different opportunities and benefits that come with the job. The more perks, the better! Discuss key points like equity distribution and autonomy. Talk about all these factors and stress on what makes your company better than the rest.
Cultural Fit Being the right cultural fit is invariably the most important factor to look out for in a CTO. Having the right technical skills is essential, but so is being able to adapt to the new company culture. This is especially important when you are recruiting a person from another country. After all, if a person can’t handle diversity and inclusion, other competencies are a waste. Moreover, no one wants to work with an unfriendly snob. In these matters, different factors come into play—issues related to dialect, having the right knowledge databank to match, emphasis on helping expand a company’s profit margins and visibility across geographies. For example, the technological requirements that a CTO needs to have in a developing economy like India may not be the same as the needs of the same in a developed nation like America. Company cultures are different, and a CTO needs to be able to fit within the same—open to adaptability.
Map the key stakeholders – The Intersection between employers and potential employees If you are aiming at global expansion, looking for global partnerships, M&A, and looking to scale your profits big time, then hiring the right talent is the only choice you have. A key stakeholder will look for a person who is a tech whiz but who is also well versed in the business side of things. It’s important to ensure during the recruitment process that the candidate is on the same wavelength as the key stakeholders. It’s an intersection between employers and potential employees. Key stakeholders should partner the right candidates with the right role. It should be a seamless fit like a brick in the wall. You know you’ve got the hiring process done right if you manage to match the right talent with the key stakeholders’ expectations.
A chief technology officer (CTO) is the executive in charge of an organization’s technological needs as well as its research and development.
What are the roles and responsibilities of a CTO?
The CTO makes all executive decisions with regard to the technological interests of a company. They are responsible for outlining the company’s technological vision, implementing technology strategies, and ensuring that the technological resources are aligned with the company’s business needs.
What skills do CTO need?
A CTO needs to be familiar with all relevant technology trends and technological infrastructures, and be ready to deploy them within his or her company. Extensive knowledge, a fine-grained sensitivity to the human aspects of all process deployments, and a deep understanding of business considerations are also essential.
How to find a CTO for your startup?
Be clear about your requirements
Go to places where you’re likely to find good technical talent
Look for developers at just below the CTO level at startups similar to yours
Utilise the power of the internet
Pitch for the position
Ensure that you have a technical advisor before a CTO
Actor Sonu Sood, from Bollywood, to moderate a startup show to encourage Indian startup companies. The Kuberan’s House has announced its upcoming enterprise show, which will bring creative startup thinking from across India, to be streamlined and exhibited. The platform would help businessmen get the investment from the best investment community and transform most of them into profitable companies.
Both ambitious entrepreneurs and innovators can use the forum to introduce their business ideas and business models to experienced testing experts, and the most influential investors can pitch and convince them to invest their money in their company. This platform aims to simplify the process by which a startup can be financed and turned into a revitalizing Premium content for the public. Sanjeev K Kumar, CEO and Co-Founder of Kuberan’s House, said that, “The aim is to provide both entrepreneurs and investors with a forum and to mediate and serve as a catalyst.”
Sonu Sood moderates Kuberan’s house to encourage Indian startup companies
This show for funding startups would ultimately transform into a mega TV show consisting of a consortium of eight major investors and 60 final entrepreneurs from all the applicants. Ram Gowda, MD and co-founder Kuberan’s House, says: “There are many forums for startups across India, but there’s no showcase and no new startups. Kuberan’s House is the first of its kind to come up with the concept of taking the closed-door investment negotiations to every drawing room throughout India.
Sonu Sood Backs Fintech Startup Spice Money
Sonu Sood Backs Fintech Startup Spice Money to Drive Financial Inclusion in Rural India. Spice Money is a subsidiary company of DiGiSPICETechnologies Limited. It operates a tech-enabled hyperlocal payments network, offering services such as cash deposit, Aadhaar-enabled payments system for cash withdrawal, mini ATMs, insurance, loans, bill payments, cash collection center for NBFCs and banks as well as ticket bookings and recharge. It also offers PAN card and mPoS related services through the Spice Money App (Adhikari App) and web portal.
The latest infusion would help to design new initiatives and products that will bridge the divide between rural India and urban India. Spice Money will also enable select existing programs developed by Sonu Sood during the lockdown, to be made available on the Spice Money platform.
Sonu Sood startup funding
What is Kuberan’s House
Kuberan’s House is the first and exclusive to be broadcasted on a broadcast channel in India. It represents the spirit of the ‘Make in India’ movement and offers opportunities, publicity and recognition for participants and an opportunity for them to gain mentorship and financial support to make their dream come true.
The Kuberan House Foundation’s core alignment lies in delivering, tracking, streamlining and showcasing the best startup ideas in India for Kuberans’ elite team. The foundation is focused on the informative website and a comprehensive procedure for submitting ideas and entrepreneurs together with a pitch deck. A solid, passionate and accomplished multi-faceted core team with expertise in different fields constitutes the Base.
Through strategic alliances sponsored by the best professional media, P.R, digital marketing, advertisement, and advisors from the top technical institutes and start up forums in India, the Foundation is the centerpiece of all activities that enable full scope and invite creative entrepreneurs and developers to apply. 9X Ventures LLP, integral part of Kuberan’s House, offers training, mentorship, the concept of business model, network support, incubation and acceleration services and is a competent home startup consulting company.
9XV, together with its team of industrial experts, market value’s, chartered accountants, screen every application and institutional and expert domain partner in Kuberan’s House is conducted in a most scientific and professional manner. A three-stage screening process involves detailed background checks, technical specifications, a company module, originality and viability for the business concept being suggested, all applications received on the KUBERAN’s HOUSE platform.
Kuberan’s House Bridging between Startups and investors
Kuberan’s House is a first and unique forum for developing and showcasing new startup ideas in India and helping companies obtain investments from the best selection of investors and risk capitalists. A real TV show featuring Sonu Sood makes it easier to obtain an idea by making it into a vigorous primetime. The idea arose when the planet was completely stalled as a consequence of the pandemic. A brainchild of Sanjeev K Kumar (CEO and cofounder), Ram Gowda (MD and cofounders), and Ranjith Royal (cofounders). In the background of the project’s online partners, Govind Balakrishna Raju (chair strategic officer) and Srinivas Vasanthala (VS – Operations) joined hands with the founders.
How Kuberan’s house helps startups get funding
If you are an investor or an entrepreneur and are looking for funding in an innovating business concept or company, this is the perfect forum to achieve your startup dream. The 500 top startups undergo a rigorous screening phase and will be moved to the ‘Hall of Fame‘ of Kuberan House. Any of these are accredited as a ‘Seal of Merit’ by the Kuberan House Fellowship. The applicants will be limited to the top 100, which will engage in a three-day exhaustive and holistic workshop.
The Workshop is made up of a group of exclusive experts in business matters, economics, policy, chartered accounting and the administration of the funds, legal matters and the public sector. The last 60 companies will be listed on the show. Three ideas will be introduced in each episode in the 15-episode series. This series is about pitching top investors in the country and convincing them about the importance of your startup concept, where every pitch will have an opportunity to get the Rs. 10 crore funding, as opposes the traditional realities with a winner and a loser.
This is a rare opportunity for top startups to appear on national television once in a lifetime. Incubation and acceleration skills will also be open to the top 500 applicants. In view of international exposures and global platforms such as Silicon Valley (USA), Singapore and Israel, Prime 100 will gain access to a detailed holistic workshop, with domain, business, lawyers and the final 60 applicants. In terms of startup credits, incentives and value add-ons all shortlisted applicants will also gain.
The Kuberan’s House is an organization that invites, develops, streamlines, and connects business ideas and inventions with prospective investors and venture capitalists.
Who is the CEO of Kuberan’s House?
Sanjeev K Kumar is the CEO and Co-Founder of Kuberan’s House.
What is Spice Money?
Spice Money is a Rural Fintech Company in India which has brought a transformative impact on digital, financial, and e-retail services across the rural and semi-urban regions.
How is Sonu Sood related to Spice Money?
Sonu Sood is an Advisory Board Member of Spice Money. Sonu Sood is brand ambassador of its brand campaign ‘Spice MoneyToh Life Bani’.
So you have launched your startup, it’s a dream come true and you are definitely excited about it. You may have found some customers as well, but the most difficult part is to have enough customers so that you can sustain your business in market and drive profit as well in future. Invest wisely in your sales team, as they will play a major role in this trajectory. There is no direct formula like invest X amount of money and you will get Y number of customers, if there was, it would be much easier and less challenging. Alas, this is not the case. There is a lot of competition in the market today and there are thousands of ways to market your business but you will need a unique one if you want to be ahead of everyone.
According to a report, More than 1,200 startups came up in 2018. In this competitive world, where all companies are competing for being at the top in their industry against their rivals are enlarging their users or customers by doing best marketing strategies, So it will be very difficult for any startup to stand out among this competition. We know, that going for the startup is not a cup of tea and it is important to utilize monetary resource effectively at the right place. People believe that spending more monetary resources on marketing can help them gain an ample amount of users or customers. But, that’s not true! It all relies on the creativity that you lay in your marketing approaches. Every company follows a similar type of marketing strategy but if you want to stand out you need some unique approaches that can able to boost up your growth in terms of users or clients. Rand Fishkin, CEO of SEOmoz and a renowned leader of the digital world, says marketing after creating your product wastes energy, time and money. Marketing firs ensures a loyal and active audience so that when you do debut your product you will be able to get feedback right away.
In 2018, it is safe to assume that your target group is bombed with messages, notifications, spams and click ads all the time. The trick to arrest their attention for more than 10 seconds and make a room in their memory to be recalled at the right time is a combined effort of your authentic intentions and creative methods.
Wasting time along with your another promoting guide? Why? You already recognize the fundamentals. And you’ve in all probability detected the recommendation 1,000,000 times; produce a mission statement, notice your audience, produce awe-inspiring content and promote. whereas there’s undoubtedly additional to that than that, you get the gist. What your startup extremely desires area unit some innovative promoting ideas which will set you except for competitors and build customers come back to you. which will sound easier aforesaid than done, however you’ll be off and running when you re-examine these five uncommon promoting ideas for startups. Here are some uncommon ways startups can conquer the mountain and be on their way to growing like never before.
Reach out to a specific community
Community – Startup Marketing
If you want to build a user base fast, you need to have a clear understanding of what your ideal customer looks like. You need to have a fundamental understanding of your product and the community you’re targeting. Youth is the biggest user of just everything. Companies dig into the most creative ways possible to sell their products and make it a trend. You can then create a piece of content creatively and specifically for this community and can find huge and quick success. The basic idea lies in how well your product connects with the community at the target. Relevancy is the key here.
Use your product for the social cause
If you’re looking for something highly creative that will skyrocket your brand to success, consider using the product itself for a social cause. People these days love to see how a person is towards everyone else, there was a time when business was purely an act of selfishness. Its 21st century and people need to have trust in your brand and that can be built easily by doing something good. People take pride if they’re told about the product or service they use to contribute to human or wildlife funds. It does make them feel good about the product they use and the brand they’re associated within an indirect way.
Create a video that simplifies your product or service
Create Videos – Startup Marketing
Creating a video that explains your product in the most simplified way is one of the fastest ways of growing your fan base. Making a creative humorous, video that gets into the head of the viewer. The video shouldn’t be a regular advertising one then it’ll be pointless to call it a self-explanatory video. However, this can be a modified form of advertising and publishing your product.
Trust always works!
This is definitely the oldest and purest form of promoting and advertising used by businesses since the world began. While it may bring slower results than radio or television, it still works very well and solidifies customer for life. Because people are becoming increasingly suspicious of paid advertising, this old method becomes the most reliable way to market down product. I still think this remains one of the most trusted methods in the world today. When a customer is happy and satisfied with a product or service, there’s a natural human tendency that they are likely to share this experience with people in their circle of trust and influence – family, friends, colleagues, neighbours and sometimes, strangers.
How to attract customers?? The satisfied customer is one of the most effective marketing and advertising tools a small business can ever have. Satisfied customers become foot soldiers, evangelists and advocates for your business. It is amazing how many of your satisfied customers will go to great lengths to promote, convince, protect and defend your business outside. This is so effective and powerful that many successful businesses rely solely on this method to advertise and market their products and services. One of the biggest business empires like the TATA group. is the best example here. So, how exactly can your small business grow an army of passionate customers, who will advertise your product free of cost? The first and most important step is to sell a product or service that really works and provides great value to anybody who uses them. If a product or service delivers on its promise and does more than what it says, it’s a winner! Most people buy products or services to solve a problem or satisfy a need. Nothing will make a customer happier and more satisfied than getting a product that makes a very challenging problem go away. They’ll scream your name from the Everest top. Most times, it doesn’t really matter how large or deep-pocketed your competition is you can grow a successful business with great customer service. People like to buy products and services from businesses that treat them with respect. People love to be given attention and treated well and will always return to enjoy that beautiful experience again. Don’t forget, customers spend their hard-earned money on your products. Don’t you think they deserve a big “Thank you’ with a wide smile on your face? People hardly forget a great customer experience and will happily tell other people about it.
Give your customers a reason to advertise and market your business but sometimes this doesn’t come automatically, you have to encourage, motivate or incentivize your customers to do it for you, so that brings me to my last but not the least effective way to market your startup.
The more people they refer to you, the more free products, services and discounts they will enjoy. Referral codes and links are used a lot these days to attract customers. We all come across these kinds of codes and links and we do refer it to our WhatsApp contacts and others. It’s a very rapid way of growing business these days but this one is completely based on the quality of your product and service. One more method which is very popular is
Creating contests and lucky draws
The reward should be large enough to trigger their interest and make them take action. It’s a win-win method that always works. Everybody loves to win. It’s not just always about the prize you win, it’s the thrill of getting lucky or beating other people. Call it ‘ego’ or whatever you like, but it always works. Let’s also say you start an interesting contest, to spread it you can use various social media platforms like Facebook, Twitter, Instagram etc. Even though many of them will not win the grand prize, they will still be interested in finding out more about your products and services. But make sure you can comfortably afford the prize you plan to give out. Draw out a reasonable budget and stick to it. It makes no sense if the money you make from selling your products during the contest cannot cover the cost of running it.
Be as much as creative as you can with your Business Card
A business card represents your firm and is one of the most effective ways to reflect your business. Most of the startups mainly focus on the flyers and other advertising material; instead, investment time, cost, and builds a unique card. Mostly, we can see very popular templates business cards, which are less attractive and will not give an impression on first site, instead choose the best as you do not know when someone will share your card to a prospective client.
Give group specific discounts
Generally, what we see is a business offering huge discount, but did we thought that these discounts benefits all or only some group. Therefore, throw a sale focused more on different groups instead of a regular one. This will help your client feel privileged and boost your sales. Advertise the incentives and let them know you have plans for all of them not just for a few. Focus on quality instead of just the quantity.
Bring people to your platform
Advertise, but do it in a way that one is forced to try your business once. For example, advertise in newspapers, but add a line, try your luck with spin wheel, you may get discount up to 100%. One will never deny to try it out and this is the way that customer grows. If you are a startup that provides services, give your client to try their luck, you may offer to provide a next service at a discounted price according to the offer they get. Something is always better than nothing, this quote may be old but is one of the effective ways today also.
Host a contest and give away free stickers and t-shirts
Everybody loves that. Host a contest and distribute t-shirts and stickers, this will also cover up the word of mouth marketing, never underestimate the power of this marketing. This is a free referral program that will build trust among the users and bring more customers together to your platform. Once they are on your platform, bribe them with cash, and give them free cash in their accounts for new customers. They can’t deny a platform built on trust and offering them discounts.
Send handwritten notes to your customers
Talking with your customers directly is very effective and can bring you more customers on board. Everybody likes to talk about him or herself and when you send a hand-written note to them with their order, they will feel privileged and will be willing to use your service for next time also. They will also praise your business for being special to them.
Show up unexpectedly!
Find out where your audience is and show up when they are not expecting. The show up could be of the product itself, a merchandise branding the startup, or a business card. ‘Accidentally’ leaving behind a pen with your FinTech company details at the banks, putting up Bumper stickers around the city, commissioning a graffiti to grab the eyeballs are just some creative ways to reach out. Find the ways suitable to your startup by asking people in your industry what grabbed their attention recently and work around the themes. Look deeply to understand where you customer is investing the time. Don’t feel shy about this and get your name out there in as many ways as possible. Literally, be everywhere!
Collaborations, Collaborations, Collaborations!
Collaboration – Startup Marketing
From Nike x Kanye West Yeezy to Uber x Spotify, collaborations are the new age formula to expand and impact. Identify the ways you can partner to create exciting campaigns or offers, run small samples to see which is getting active results, align it with the company’s vision and shoot! Nothing gets people more excited to see two forces coming together to their rescue.
Don’t underestimate the power of Social Media
Social Media – Startup Marketing
Although you must have a digital presence through your own website, Facebook page, Instagram page, Twitter handle, but so do all your competitors. Once again, identify where your customers spend time online and make a way to show up there. Partnering with a well-known expert with an influential following on Facebook, collaborating with an e-commerce to automatically add your product’s mini pack on every purchase are just some ways you can gain traffic on your page. Digital world is a mad jungle with unimaginable potential, so put your creative hat on and tap the popularity of already established ‘influencers’ and brands to draw your own success and build trust with the new audience!
Show that you care
An individual is more likely to trust a new service provider or product if it is suggested by a friend, relative or co-worker. Find a way to these conversations that your buyers can have with potential new buyers and mention you in appreciation. Referral programs are a huge hit for the obvious benefits but think beyond the gain. A brief follow up call to your customer to inquire their satisfaction with the service, a thank you text with a reassurance that you are available to them in the future, a birthday/anniversary email with a small incentive on the next immediate purchase can take your brand goodwill a long way.
Associate yourself with a good social or environmental cause
The new age customers are very sensitive to their impact and showing that you care about your impact can leave a great impression on them and build a caring, trusting relationship between the two. Be aware of any big events that happen such as a natural disaster and ensure the customer that each business you get will also convert into an act of help. This can make others see you in a great light, and bring more people to associate with your business! Once your business grows, you will experience greater freedom to spend big on marketing campaigns but don’t lose sight of the unconventional ways of impacting people to stand apart in the crowd.
Trade shows For the marketing of your startup
You need to attend the trade shows and conference which will help you to get connected with the people and interact with them and talk about your product. you can able to build large community with them. There are many companies which follow this strategy such as Google itself is an example of this strategy. Every year Google organize programs for the developers and not only that they also invite the young developers around the globe.
Relate your product with some social work
This is the best way to promote your startup at first when you include your product in the some of the engaging social work. One of the examples of this is Paytm when demonetization was implemented in India the one application that was used the most for the digital transfer of the currency was the Paytm and it gives the huge boost to the Paytm company in terms of the users. Apart from this during the critical time, they also give cashback offers.
Yes, instead of paying to the other sources for getting new users for your product you can directly pay to the new user directly when they sign up in your site you can give them the reward of $10 or 100 rs. The best example of this is Paytm and Paypal during the demonetization also Paytm was giving money for signing up and also if you invite your friend and relatives through your referral code they will also get the reward and you will also get a reward. Even Paypal also use this approach to get an ample amount of users in their earlier days and this strategy really worked for them.
Hosting contest
Hosting a contest on your site or website can get you users as while participating you can ask them to sign up for your website first and then participate in this contest. This brings a lot of audiences example for Hypster application which uses this strategy in which people can participate in the contest by signing up and making videos and according to this you can easily able collect flames and this flames you can easily convert in the money and thus this application have increased the number of user in short time period. All in all, there are many techniques which you can use for the marketing online and offline both approaches are available but to stand out from your rivals you should use the approaches which is used rarely. Marketing strategy should be creative and out of the box, thinking should be used so that your startup can boost as well as stand out and can able to set an example for the other marketing strategy makers and rivals and also to your users or clients.
Build a weird Bedfellow
You’ve in all probability detected that after upon a time M&M’s were offered a major role in E.T. The provide was turned down, that the film went with Reese’s items instead. whereas that hiccup didn’t take away M&M’s from grocery shelves, it did facilitate build Reese’s items a particularly standard candy. The idea here is that it’s not about to hurt your startup by teaming up with associate surprising partner or place to market it. It may be one thing as straightforward as showing off your product in a very video – suppose Snoop Dogg carrying Tommy Hilfiger within the 90s’ – to delivering brewage to fans at the OppiKoppi competition in Republic of South Africa via drones. In either case, you’ll be sound into a special audience.
Be all over
This doesn’t mean simply blogging or being active on social media – that you must be doing anyways. It virtually suggests that to be all over. you would like to be that complete that folks notice once they’re walking down the streets. Even if they don’t recognize what your startup will, they’ll acknowledge your name. Some examples would be commission a mural on building and covering the streets with chalk, paint or displays. you’ll conjointly make-up bumper stickers and t-shirts and provides them to workers or as freebies at events. they’ll not be the foremost uncommon, however an ingenious shirt not solely lets individuals have the prospect to diverge, it’ll build others wish to leap on board – suppose Zaarly shirts floating round the Bay space. In short, don’t be invisible. Get your name out there the maximum amount as potential.
Be a Hero and Save The Day
At some purpose you’ve scan that a business ought to be donating cash or sponsoring a charity. It simply makes your startup look sensible. And whereas that’s all well and sensible, you’ll continuously take that to subsequent level by being a hero to your community. For example, there was a brewage gate campaign during which individuals may get their train ride with empty brewage cans following Carnival. However, the cans had to be from Ambev‘s Antarctica brewage World Health Organization saw the simplest way to spark a utilization program. One more cool example from Brazil was the Rescue Drive campaign. killer Chevrolet drove around searching for normal driver and so offered them a free take a look at drive so they may build it to figure, home or where they needed to travel. Over in Asian nation, billboards were used as shelters for the homeless within the “Other Side” project.
Show Some SkinWell, not virtually
Unless that’s the type of attention you’re searching for. we have a tendency to meant metaphorically. this suggests giving your startup a temperament. think about dollar Shave Club. The startup launched a beta version in Apr 2011, however it wasn’t till March 2012 once everybody noticed the razor-blade subscription service. A risible ad that includes co-founder and CEO archangel Durbin took off leading to 12,000 orders within the 1st two days and also the company’s web site blinking inside the primary hour. The ad was funny, however conjointly introduced individuals to the corporate and also the man World Health Organization contains a love for shaving at an inexpensive value.
While paying attention to and interesting your customers area unit important techniques in every and each of your promoting campaigns, you actually wish to boost the bar and build them desire a region of the team. That’s what the Karl Lagerfeld Store in capital of The Netherlands achieved in 2013. The store equipped dressing rooms with iPads and a wall-mounted touchscreen and camera. the concept was to own customers to share their new appearance with social media and email contacts. there have been conjointly Instagram-style filters that would be accustomed produce a lookbook. It absolutely was fun and interesting and an excellent thanks to promoting the complete. And it achieved that by creating the shoppers desire they were a region of one thing larger.
Conclusion
In this digital era, there is a huge competition in every industry. Thus you can’t rely on just traditional marketing and advertising, rather you should think out of the box. It’s not about spending too much money for marketing, it’s about to identify your target audience and run optimum marketing campaigns. Hope above startup marketing ideas will help you to craft your marketing strategies. Share your thoughts on the comment section.
FAQs
What are some of the best marketing practices for startups?
India has become the world’s 3rd-largest start-up base, with 3,100 start-ups provisionally rising 2.2 times from here. This exponential rise in startups has allowed startup media to appear. These sites now cover all start-ups, whether it be startup stories or news about recent startups, their founders and so on. Some media startups in India that cover these segments are:
POPxo is the largest online community in India for women to read, watch and shop. It’s a safe place for women to lead their best lives- “Take it a POP.” POPxo is designed for the convergence of advertising and commerce from content to private label brand. POPxo posts content in six languages—English, Hindi, Marathi, Bangladesh, Tamil and Telugu—that attracts more than 39 million visitors per month, spending over 3 million hours on all its platforms. Leading brands focus on this key audience with POPxo. All this is enabled by data-driven insights into young women’s lives and hearts in India.
Wittyfeed
Modern day platform blogging for everyone
Indeed, WittyFeed, the article and listicle website, is the largest Indian content company today and the second biggest traffic number company in the world. In the short time since the launch of WittyFeed in 2014, they have been a pioneer, excluding worldwide Buzzfeed. The two founders, Singhal and Vaishnav, have had big success on Facebook as well with 4.2 million followers on the page. “We realized that it was time to monetize the public with this figure. We have also come to the conclusion, with our research and experience, that there is a boggling mind for the number of people in the virtual world, but there is an immense gap in the quality and volume of the content on the offer.”
Pocket Aces
Original Material for the millennium
Pocket Aces from Mumbai produces and distributes original material to the audience of the millennium. In July Netflix collaborated with the Content Studio of Pocket Aces, Dice Media, to produce worldwide scripted shows beginning with the new Little Things season. As more and more people get access to the internet via their phones, their taste is evolving. Right now, there are so many creators who are doing sexist, disability content…its old school, cheap humor. So all focus is on fresh content for the new generation.
Arre
It offers content in film, audio, text, and doodles, spanning diverse genres
Arre is open OTT, which was launched in October 2015, and provides original content both on its own website (arre.co.in & Arre apps & social channels), as well as on 20 platforms. It offers content in film, audio, text and doodles, spanning diverse genres such as fiction, factual entertainment, documentary, social exploration and much more.
Vokal
Where India shares knowledge
For Indian non-English Internet users, Vokal is a peer-to-peer information and opinion-sharing site. Currently, the Bengaluru-based company offers Hindi content and plans to start in several languages. Vokal also has a live video streaming feature and reports that its platform contains more than 300K questions. There are more than a thousand questions on specific subjects every day.
ShareChat
Sharechat is an Indian social media and social networking service, based in Bangalore, India.
Sharechat, a social channel of regional language, saw its valuation shoot seven times last year (2018) in the fundraising round of $100 million (InR 720 cr). Daily active users have increased from five minutes in April-May to eight minutes in September in the Bengaluru business. Sharechat would like to go deeper into micro-markets, including north-east India, before it starts focusing on the monetization of its service through ads, marketing and in-app purchases next year.
Play Simple
Gaming Platform for Indian mobile games market
A few years after raising $3.8 million from the most significant venture capital funds, SAIF partners and Chiratae Ventures, mobile game platform PlaySimple looks forward to making most of 2019. (formerly known as IDG Ventures India). Siddharth Jain and his Zynga, colleagues Suraj Nalin and Preeti Reddy and Siddhanth Jain software engineer, created the Bengaluru-based startup. Estimates indicate that the Indian mobile games market is expected to amount to $1.1 billion by 2020, and there will be 628 million users at that time.
Conclusion
These startup’s are paving the way for all the emerging startups entering in the Indian Market. Start-ups emerged as this country’s growth engine, funded by risk entrepreneurs who spent resources on India in recent years and founders who spent money recruiting employees in crowds. In order to capitalize on the demographic gain, India needs to generate 10 million jobs per year. For the country’s future growth, entrepreneurs are important. It will be a mission-critical endeavor, in order to deliver the promised troika for food, clothing and shelters, to foster the spirit of creativity and to build the skills that support entrepreneurship among our young population.
FAQs
What is a media startup?
A startup that acts as a media for startups is known as a media startup. These sites cover all start-ups, whether it be startup stories or news about recent startups, their founders and so on.
With the increased count of startups in India, the Government has put forward a flagship program to empower the startups, which is known as Startup India Scheme, which launched in 2016. As a developing nation, it’s crucial to expand the economy whose best possible method is to fund startups.
Moreover, it benefits the employment rate with innovation in products and services. The government of India has introduced several beneficiary programs for startups, among which this scheme gives DPIIT recognition to the startups. Here arises a question, what exactly is DPIIT?
Basically, DPIIT stands for the Department for Promotion of Industry and Internal Trade. Those startups which get recognition under DPIIT gain many benefits, such as access to a host of tax benefits, IPR fast-tracking, easier compliance, and many more.
The main objective of this Startup India initiative is to reduce the regulatory burden on the startups and to help them expand their core business with low-cost compliance. DPIIT works as the monitoring agency and the Small Industries Development Bank of India (Sidbi), the principal operating agency for funding startups.
This scheme has indeed helped the nation to increase its employment rate. According to the report of March 2020 given by the Commerce and Industry Minister, Goyal Goyal, states that a total of 3,37,335 employment (sic) has been reported by 27,137 DPIIT-recognized startups.
This statistic clearly shows that the DPIIT scheme has benefited the nation. Now, let’s move to the main content of this article which is how to gain the DPIIT Certificate of Recognition for Startups. Let’s begin!
This Startup India Initiative is mainly created to reduce the regulatory burden on startups. Therefore, it comes with several benefits through which the Government of India supports the current entrepreneurial ecosystem of the country. These benefits are:
Exemption of Income Tax Act, 1961 under,
Section 56(2)(vii)(b): This section talks about the tax that imposes on those companies which receive consideration for share issues exceeding fair market value. Now, the DPIIT registration helps startups to get exemptions under this section. The utmost benefit of this exemption is seen at the stage of the angle/VC round.
Section 80-IAC: Under this section, DPIIT-registered startups are benefited by muting the income tax payment for three consecutive years out of the first ten years of the company’s incorporation date.
Section 54(GB): This section discusses the tax imposed on long-term capital profit received on the sale of any residential property. And if the government capital profit is invested in the DPIIT registered startup, then the startup gains exemption from this tax payment.
Self-certification under labor law and environmental laws
Typically, all private companies are bound by labor and environmental laws for conducting inspections of the company’s establishment, safety norms, maintenance, and beneficial employee norms.
However, those startups registered under DPIIT can self-certify for five years (counting from the incorporation date) themselves under six labor and three environmental laws.
The exemption of six labor laws are:
The Building and Other Construction Workers (Regulation and Employment and Conditions of Service Act, 1996)
The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1996
The Payment of Gratuity Act, 1972
The Contract Labour (Regulation and Abolition) Act, 1970
The Employees Provident Funds and Miscellaneous Act, 1952
The Employees State Insurance Act, 1948
The Exemption of three environmental laws are:
The Water (Prevention & Control of Pollution) Act, 1974
The Water (Prevention & Control of Pollution) Cess (Amendment) Act, 2003
The Air (Prevention & Control of Pollution) Act, 1981
Intellectual Property Registration
The cost of a trademark registry in India for a trademark in one class is around Rs 9,000. But for DPIIT registered startups, they cost nearly half. The same goes for patent applications as well.
Public Procurement Norms Relaxation
Those within the industry know what Public Procurement refers to. It’s the process through which state-owned businesses and the government purchase goods and services from the Private sector.
These contracts are usually marked with high eligibility requirements, but for the DPIIT-registered startups, the contract offer is relatively low.
Eligibility Criteria
Eligibility Criteria
Of course, for DPIIT registration, there are some eligibility criteria. Startups fulfilling the criteria will only get the approval and the one that does not fall perfectly under its eligibility criteria will not receive any exemption. The eligibility criteria are shared below.
Company Age
Startups whose existence and operational periods do not exceed ten years, counting from their incorporation date, can apply.
Annual Turnover
Startups with an annual turnover of Rs. One hundred crores for any financial year can apply.
Company Type
Startups that are incorporated as Private Limited companies or registered partnership firms, or limited liability partnerships can apply.
Innovative & Scalable
Startups that work towards product or service improvement and development along with a scalable business model of high potential can apply.
Original entity
Startups with original entities not reconstructed from a pre-existing business can apply.
Startups must submit a list of essential documents for registration under the DPIIT scheme. These documents are:
The Incorporation or Registration of entity Certificate
On receiving funding, Startups need to submit Proof of Funding (a support letter from the state or central government authorities or duly recognized incubator, and the angel funds or incubation fund needs to be 20% or above) to receive the DPIIT certificate.
Documents of award or any recognition received by the company.
Brief description of the nature of the business, including details of how the company is working towards innovation, scalability in terms of employment count, and product or service development.
Document of Patent (published in Patent journals by the company).
And if the ministry found any of the documents mentioned above forged, the applicant is liable for the penalty of 50% of the company’s paid-up capital and Rs. 25000.
Applicable Fees for DPIIT Registration
There are no application fees for the startups to pay for registering with the Ministry of Commerce and Industry to receive the DPIIT Recognition certificate for the startup.
Steps of DPIIT Registration
Business Incorporation
The first and foremost step for DPIIT Registration is to incorporate your business as a limited liability partnership or private limited firm.
Register on Startup India Portal
Startup India Registration Form
You need to register your startup on the official Startup India Portal. Fill out the details, like the contact info of your startup, along with the name. After successfully registering, you will get the login credentials on your provided email address.
Startup India Portal Login
As you have the login credentials, log in to the Startup India Portal. There you will receive an application that must be filled out and submitted. Then only your startup will be registered.
DIPP Recognition and Registration
After submitting the startup registration form application, you will receive a form for DIPP recognition. Please fill out the form and select the tax exemption that you need, and submit the form by attaching the required documents with it.
Certification of Recognition
A Sample Certificate of Recognition
After submitting the application for DIPP recognition to DPIIT, which shall issue the Certification of Recognition to your startup.
The DPIIT certificate is an essential document for startups to gain several benefits from the government. To avail of the certificate, one needs to register their startup companies under the Department of Promotion of Industry and Internal Trade under the sub-category of the Startup India initiative.
The complete guide for the registration as well as the benefits of the DPIIT certificate, eligibility criteria, documents required, etc is shared above.
FAQs
How do I get DPIIT recognition for a startup?
To get DPIIT recognition for a startup, one needs to log in to the page and look for the option of getting DIPP Certified to select register here under the category of Recognition and Tax Exemption.
After clicking on the register here, one needs to fill out the form by submitting all the necessary information and documents required. After submitting, the form will then be processed and if found satisfactory, the startup will get a recognition certificate.
What are the documents required for startup India Registration?
Some of the essential documents required for startup registration are trademarks, articles of association or incorporation, a non-disclosure agreement, intellectual property assignment agreements, a founders agreement, terms and conditions, etc.
Who is eligible for DPIIT?
The basic eligibility criteria for any startup to be registered as DPIIT is to have an annual turnover of about Rs. 100 crores for any fiscal year from its federation.
Is DPIIT registration mandatory?
Startup India Registration with DPIIT is mandatory for startups to get the benefits from the recognition certificate like tax exemption, reduced compliances, etc.
Revenue model is how a business makes money. It is important for the company’s long term projections. It provides Current and future potentials to earn profit. Building a great revenue model convinces investors that you are worth investing in. Designing an effective and profitable revenue model forstartup is difficult but is significant.
The Revenue model is a strategy for managing company revenue. It will determine the types and sources of revenue that your business will generate. It projects how a product and service will generate revenue.
How to Create an Effective Revenue Model for Startups?
Choose a Revenue Model that is suitable for your startup and your Market
Research the market you are entering extensively. Study your customers, address subscription options to them. Analyze how your product will fulfill the customers. On the other hand, if you are looking to sell your product to larger companies licensing is the fittest option for high returns.
Revenue is a key component of the business model. Also While identifying your market, analyze your competitors as well.
Create a Revenue model that expresses the value of your startup
Your revenue model should communicate your value. How different your products and services are from the competition. A prominent selling point is to stand out your product that people will sign up for.
Build a Revenue that helps you find the top investors for your startup
Build a great revenue model that convinces investors that you are worth investing in. Focus on investors that will be in for the long haul. The investors should get a complete idea of your business values by just looking at your revenue model. Investors also focus on how profitable your revenue model is.
Determine your revenue model
An important point to figure out is how you’re going to charge your customers. There are two comprehensive types to charge your customers.
Transactional: You can Charge customers on a per transaction basis. Once the customer purchases the product from you they don’t need to pay again. Examples: Tesla, Apple (hardware), Starbucks
Recurring: You can charge your customers a monthly or annual subscription fee for the ongoing service. Examples: Netflix, Blue Apron
Determine your customer acquisition model
There are many customer Acquisition models but we will shortlist three important customer acquisition model
Direct:Does Your company has direct contact with the customers of your product. This typically means contracting salespeople who engage directly with and sell the product to customers. This tends to work best for products that demand a high price. Examples: Tesla, Palantir, Boeing.
Indirect: If your company does not has direct contact with the customers of your end product. Indirect customer acquisition includes retail sales, channel partnerships, independent dealerships, consultants, etc. Examples: Mattel, Ford, Oracle, Coca-Cola.
Inbound: Customers have no or little contact with your company. This typically entails driving traffic to a website or app with sign-up and payment interfaces. This works best for low price products or services that customers understand easily. Examples: Netflix, Amazon Prime, Spotify.
Top 10 Most Effective Revenue Model For Startups
1. Ad-Based Revenue Model
Ad based revenue models require creating ads for product, service, or app and placing them on high traffic channels. Google’s Adsense is one of the most practical and common tool to get ads for your website. For most websites, AdSense will make about $5-10 per 1,000 page views.
Affiliate revenue is an affiliate web-based revenue model in which you signup with a company to promote their products via links. You receive a small commission for the sales of the product or if someone executes the desired action.
Affiliate Revenue Model
3. Subscription Revenue Model
The subscription revenue model is a model where the company earns revenue by charging customers a recurring fee at regular intervals. A quite common and popular example of the subscription Revenue Model is a popular streaming platform Netflix.
Subscription Revenue Model
4. Arbitrage Revenue Model
An arbitrage revenue model is a model that is followed by traders since ancient times. This is a quite simple revenue model. In the arbitrage revenue model, a product is purchased from a market or a region to be sold at high profit in a different market.
5. Direct SalesRevenue Model
In the Direct Sales Revenue Model, The business or brand directly interacts with the customers for selling their products. There are two types of Direct Sales
Inside sales – When the customer calls to place the order for the product.
Outside sales – When the brands sell their product using face to face sales transaction.
6. Licensed Revenue Model
The licensed revenue model is quite a profitable revenue model that is commonly used by music industries for licensing their songs. The brands or companies earn revenue by licensing their products. It is quite common in media industry and for patents, copyrights, trademarks.
Examples of Best Brand Licenses
Angry Birds & Star Wars.
Microsoft & Fuji Xerox.
Microsoft & Canon.
Victoria Secret & NFL.
Lego & Star Wars.
Lego & Warner Bros.
Monopoly & McDonald
7. Data Sales
Data sales can be explained by a simple phrase “If you can’t see how the money’s made, you’re the product”. The data sale revenue model is a complicated revenue model and is hard to maintain. In this revenue model, the data is sold to the business or consumers.
Specific companies use data sales as their primary revenue model while some use it to augment another revenue model. Data should be handled with care an proper public concern if you decide to go with it as your revenue model.
8. Retail Sales Revenue Model
In the Retail sales revenue model, you have to set up a traditional department store or retail store in which you offer physical goods to your customers. A retail business generates revenue from sales of the product with the help of its retail stores.
Channel sales are the most complex pursuance in the world of sales and marketing. In simple words, brands or companies rely on a third party to sell their goods.
Indirect Sales Revenue Model
10. Freemium Model
Fremmium Revenue model is a model in which the consumers are offered service for free of cost but additional cost is charged for premium features. Many companies use this type of revenue model for example Skype, Zoom, Spotify and many more.
Spotify Freemium Model
FAQ
What does a revenue model include?
A revenue model includes the offerings of value, the revenue generation techniques, the revenue sources, and the target consumer of the product offered.
What are examples of revenue streams?
Subscription fees, Renting, leasing, Licensing content to third parties, Brokerage fees, and Advertising fees.
What is the best revenue model?
Subscription-Based Business Revenue Model is one of the best types of revenue models for startups.
Conclusion
Build a revenue model for startup that is equipped for the future. Research the market you enter effectively. Creating a revenue model might seem challenging but not having one is not an option. The revenue model for startup is crucial to driving the success of your company.
Entrepreneurship is one of the growing professions in the recent years, and cohorts of entrepreneurs are working towards growing their own startups with unique solutions and actionable ideas. Startups with innovative ideas and a roadmap to build a fortune out of them are often funded by venture investment firms that offer private equity finances to startups in need of funds in return for a fraction of the company itself. While discrete firms exist for such investment, larger corporations including Alibaba and Google haven’t held back from this either.
Indian fintech giant Paytm, since the previous decade has also made about 17 investments and 11 acquisitions as of March of 2021, and has supported the startup ecosystem in India, and abroad. Other Indian corporations including giants like Reliance and Flipkart have made their share of investments as well, and have helped boost entrepreneurship in the country. In this article, we discuss the top 10 most recent and innovative startups funded by Paytm, and the solutions they have to offer.
Rooter, India’s largest online sports community app has raised a total of $2.7 million over 4 funding rounds from 16 investors, with the latest investment raised in the May of 2020 in Series A funding. The sports community app endeavors to connect users and personalize sports related content for the 300 million Indian sports enthusiasts while also allowing them to curate sports related content in their own preferred language. Users can play and stream popular games such as Valorant, Free Fire, and PUBG, view live streams, switch languages, and avail a lot more amenities such as giveaways and more.
HungerBox
HungerBox is a full-stack B2B food and beverage tech company that offers corporate level food solutions through an online platform allowing employees to order food and avail delivery service from cafeteria. HungerBox has thus far raised over $44 million from 10 investors over 8 funding rounds. The technology driven food delivery service aims to boost employee productivity in the corporate world and offer a safe and healthy food experience. HungerBox offers a User App for seamless ordering, a Food Partner POS for user interaction along with an Admin Dashboard for detailed reports and monitoring cafeteria reports.
Founded in 2004 and primarily a travel focused technology company, Infinity Infoway is a software house that builds web, mobile, and software applications, offering digital solutions to business organizations. In the December of 2019, Infinity Infoway was funded by Paytm in the corporate round, where it raised an undisclosed amount. With an endeavor to create unique user experience, Infinity Infoway offers solutions ranging from CRM and SCM to travel and outsourcing to university resource planning. Inn 2011, it was awarded the Outstanding Entrepreneurship Award in MSEs, and currently has offices in both India and abroad.
Founded in 2014, Jugnoo is India’s largest technology driven ride sharing platform and an on-demand auto rickshaw aggregator, that allows users spanning across 40 major cities to connect with drivers with reliable and convenient auto rickshaw for safe commute. Jugnoo has raised about $40 million in funding thus far over 4 funding rounds from 8 investors including Paytm and Snow Leopard Technology Ventures. Along with ride sharing, Jugnoo also offers various other services including trucking and delivery services, Employee transportation, carpooling, along with shuttle and towing services.
Tap Chief
Tap Chief, founded in 2016 and acquired by Unacademy as of now is a cohesive platform for finding experts in varying fields and scheduling calls with them to procure necessary advice. Tap Chief has garnered a sum of $2.5 million from 16 investors over 9 funding rounds, with the latest investment having taken place in December of 2019 in the Seed round. Tap Chief started out with a vision and as a group of college students, and has thus far helped 150K entrepreneurs to work with over 250 customers, and has driven over INR 20 Crore in income.
CreditMate
Founded in 2016, CreditMate is a platform that addresses the collection of bounced EMIs and bad debt through facilitated by SaaS. Powered by innovative tech and digital-first communications, CreditMate has thus far raised about $5.5 million from 2 investors over 3 funding rounds, and looks to empower borrowers with a better credit score as well as the lenders with an enhanced lending performance. With a focus on helping customers to pay their debt, CreditMate is working with various money lenders including Paytm and Kaarva to offer seamless payments and EMIs, along with a unique borrower experience.
Unacademy is one of India’s largest EdTech startups, and offers an online learning platform to both students and educators in the form of a plethora of video lectures and exam preparation courses. Unacademy has garnered a total funding of over $398 million, over 11 funding rounds from 36 investors including some tech giants such as Tiger Global and Nexus Ventures along with Paytm. It offers courses on various subjects for some popular and notoriously tough exams including UPSC, SSC, NEET, JEE, among others along with an intuitive interface for both, the mobile app and the website, allowing users to watch missed classes, and enroll with different instructors.
LogiNext
LogiNext is a logistics management software designing company, that helps users track and optimize field services such as shipments and carriers in real-time with a single map interface. LogiNext has garnered a total funding of about $49.6 million from 6 investors and over 3 funding rounds, including some big name such as Tiger Global and Paytm. While the latest funding round was closed in January of 2020, LogiNext had a post-money valuation between $100 ad $500 million, and has acquired Your Guy, a product delivery company in April of 2016.
Founded in 2011, Nearbuy is India’s first hyper-local E-commerce platform and a one-stop solutions to find and buy almost anything ranging from dinner reservations to salons and spas. Nearbuy has amassed a total investment of over $37 million over 3 funding rounds from 2 investors until it was acquired by Paytm in the December of 2017. Nearbuy also offers various cashbacks, promo codes, and giftcards on restaurant payments and movie tickets along with other discounts on popular brand and offerings such as Rapido, Myntra, and Oyo among many others.
QorQL
QorQL is a connected health platform and offers healthcare solutions using AI and big data algorithms advances. QorQL in 2017 raised an undisclosed amount in Corporate funding round from Paytm, and is looking to deploy the funds into digitizing healthcare by combining data from wearable healthcare and clinical devices, and the genome, and using Machine Learning algorithms to use the data and find solutions in the field of healthcare. QorQL has also acquired Raheja QBE, a general insurance service, in the July of 2020 for $76 million.
Conclusion
The startup Ecosystem in India has been around for over a couple of decades now, but has just recently received the boost that it needs. With larger corporations and investment firms pouring investments in innovative startups, the room for actionable ideas has expanded, and Paytm hasn’t backed out either. Even other tech giants have launched various incubator programs to help startups with funding and resources, and with all the support and investments from venture firms and big corporations, it is safe to assume that the future of startups in India is propitious to say the least.
Entrepreneurship is one of the growing niche in recent times, and the startup ecosystem is evolving as more individuals are gearing up to work on their own startups with unique and actionable ideas. Startups with a vision and a roadmap to make a fortune out of it are often funded by venture capital and investment firms. Such firms offer private equity finances to startups in need of funds, for a fraction of the company itself. Larger corporations including Google and Jio haven’t held back from this either.
Flipkart has made quite some investments in the recent times, and has invested in startups both in India and abroad. As of now, Flipkart has made 24 investments along with 15 acquisitions including Scapic, Walmart India, eBay and others. Flipkart also has a separate program for Indian startup funding called the Flipkart Leap. Here we discuss and compare the top 10 startups funded by Flipkart, their solutions and funding amounts.
PhonePe is an Indian digital payments service founded in the December of 2015, and has raised since $1.4 billion in 12 rounds of funding. Walmart and Flipkart are the most recent investors of PhonePe, and while its latest funding round closed in the December of 2020, PhonePe acquired Zopper back in 2018. PhonePe allows users to recharge their mobile phones, pay bills, find stores that accept digital payments and make digital transactions, and a lot more. PhonePe has recently rolled out a new solution for business called the PhonePe Switch, that furnishes users with access to over 273 million PhonePe users, while being cost effective.
Mech Mocha
Mech Mocha is India’s first real-time multi-player social gaming platform based in Bengaluru. It was founded in 2014 and has since raised about $9.9 million from 5 funding rounds and 8 investors including Blume Ventures and Flipkart. While their latest funding closed in the November of 2018, Shunwei Capital and Neoplux are its most recent investors. While its lead investors were Shunwei Capital and Accel, Mech Mocha was recently acquired by Flipkart, the E-commerce giant of India in November of 2020 for an undisclosed amount.
Universal Sportsbiz is an Indian youth-centric fashion brand house, and has so far raised over $33 million from 3 investors including Flipkart, Accel, and Alteria Capital over 4 funding rounds. Universal Sportsbiz has catered to the Indian Fashion Industry with trending products and celebrity tie-ups. Based in Bangalore, Universal Sportsbiz was quick to be recognized by the youth and fashion enthusiasts, and became a key player in its category with its portfolio including Wrogn and Imara. Moreover, with amenities such as order tracking, shipping, order cancellation, and return and exchange, it has made a firm grip in the Indian market, and is looking to expand further.
Liv.ai
Liv.ai is an AI based speech recognition startup founded in 2015, and was only funded by Astarc Ventures in the May of 2017 until it was acquired by Flipkart in the August of 2018 for an undisclosed amount. Liv.ai comprises of a team of innovative tech and AI enthusiasts who are committed to deploying and integrating Deep Learning with products that can easily manage routine and repetitive tasks with ease. Flipkart’s acquisition of Liv.ai would mean that it is keen to develop a competitor to one of its key rivals in the Indian markets, Amazon and Amazon Alexa.
Ninjacart is a B2B produce supply chain for farmers and manufacturers to connect to retailers, and has raised over $192 million in 11 funding rounds from 19 investors including 6 lead investors. While the investors of Ninjacart include some big names such as Walmart and Flipkart, its latest funding round was closed in the October of 2020. Through the use of innovation in technology, Ninjacart strives to offer solutions on supply chain problems, and delivers fresh produce from farmers to businesses within 12 hours. It helps farmers with faster payments along with a revenue hike by about 20%, along with doorstep delivery for retailers.
ANS Commerce
ANS Commerce, founded in 2017, is a complete solution for E-commerce business, connecting brands to their customers and allowing business owners to focus on the products. ANS Commerce has so far raised $25K in the Grant round from Flipkart leap, Flipkart’s accelerator for Indian startups, and offers a Brandstore, performance marketing, marketplace management, along with warehousing and fulfillment, as a complete suite of business and E-commerce solutions. Moreover, with its onboarding support, sales focused approach, along with omnichannel strategies help you enhance revenue growth seamlessly.
Found in 2016, Entropik Tech is an AI powered emotional intelligence platform based in Bengaluru, and has so far raised $9.3 million over 4 funding rounds from 9 investors, including the likes of Flipkart Leap and Bharat innovation fund. With a humongous database of 16 million unique user emotion data, 20K testings, along with 100 million testers on panel, Entropik uses human emotions for displaying ads customized to your specific interests and connections, develops custom UI/UX designs, and offers an amazing shopping experience. A leader in EmotionAI, Entropik helps brands measure customers’ cognitive responses to their content and products.
Shadowfax
Shadowfax, founded in 2015 and based in Bangalore, is an on-demand logistics network and a one stop delivery solution, and has raised over $119 million from 13 investors over 6 funding rounds. With some industry giants as their investors including Flipkart and Qualcomm Ventures, Shadowfax exhibits 4 lead investors, with the most recent fund raised in December of 2019 in Series D funding round. The solutions offered by Shadowfax include Now, a hyperlocal service, Connect, the logistics service, along with E2E and Next, an integrated 3PL service with tracking and system monitored pickup and assisted task management.
Scapic is an augmented reality startup founded in 2016 and based in Bangalore, and had initially raised $500K from 3 investors until it was acquired by Flipkart in the November of 2020, for an undisclosed amount. Scapic started out as a simple and intuitive tool to build AR, VR, and 3D experiences without the use of code, and has since endeavored to offer immersive commerce to viewers and E-commerce customers with 3 dimensional view of products. With Scapic, customers will be able to virtually try out wearable products, create and view realistic images, and also view and monitor metrics to see growth and performance.
Fashinza
Fashinza, founded in 2020 is a Gurugram based B2B fashion and apparel manufacturing marketplace, and has since raised $2.6 million over 2 funding rounds and 6 investors including Flipkart Leap and Accel. Fashinza connects you to the best manufacturers in the industry, and takes complete ownership of tasks ranging from design to delivery, with users getting to choose the fabrics and the techstack. Moreover, Fashinza sets you up with with the right manufacturer based on your budget and requirements, and strives to offer solutions for global supply chain challenges with technology and sustainability.
Conclusion
Flipkart, a startup founded in 2007 by Binny and Sachin Bansal, has grown immensely since its conception, and has come a long way from raising funds to investing in other startups. This depicts an exemplary growth of a startup with a vision, and speaks volumes, suggesting the Indian startup ecosystem has evolved under percipient entrepreneurship, and the future of the Indian startup ecosystem, although full of room for improvement, is on the right track.
Entrepreneurship and Business are some of the growing professions in the recent times, and cohorts of entrepreneurs are working on their own startups with unique and actionable ideas. Startups with innovative ideas, applicable solutions, and a roadmap to build a fortune out of them are often funded by venture capital and investment firms. Such firms offer private equity finances to startups in need of funds in return for a fraction of the company itself. While there are discrete firms for such investment, larger corporations including Google and Microsoft haven’t held back from this either.
Alibaba Group is another such corporation that has taken to venture investment in startups, and has since invested in over 200 different funding rounds in smaller companies and startups. With the latest investment made in December of 2020, Alibaba Group has also made 4 diversity investments while also having acquired 32 organizations. So here we discuss 10 innovative and promising startups that the Alibaba Group has invested in, and the services they have to offer.
Lynk, a knowledge network to seek and share information, has raised a mammoth $24 million in Series B funding by Alibaba Entrepreneurs Fund and 2 other investors. Lynk offers a global network of over 840K knowledge partners from every major sector, enables users to build a knowledge platform, as well as create their own profile to get discovered and consequentially rewarded. Be it the investment sector, the corporate world, or even professional services, Lynk Answers has insights on most of the topics you can ask for, and while it is quite comprehensive in itself, Lynk is coming up with a couple of more platforms including the Lynk Circle and the Lynk Infinity.
Kloudless, an API integration platform for software developers, has raised about $7.3 million in Series and Seed funding from 17 investors, including the likes of Alibaba Entrepreneurs Fund and Bow Capital. Kloudless strives to unify endpoints and data models across SaaS API to evade all the redundant hard work that goes into recurrent coding. Along with the unification, Kloudless also offers other functionalities including cloud storage, event scheduling, customer relationship management (CRM), email and chat, as well as incident management. Users can also avail real-time activity monitoring without any API maintenance.
KKday is a travel experience platform that seeks to help others find and live their most ecstatic travel experience, and has raised about $107 million in different funding rounds from investors including the Alibaba Fund. When it comes to travel promotions, destinations, and trending products, KKday is one of the best platforms encompassing a variety of options, ranging from the adventure of deep sea to mesmerizing views from great heights. KKday also offers transportation including car rentals for local commute, as well as merchandise and commodities along with activities and also arranges for communication including sim cards and an internet connection.
Pickupp
Pickupp, an on-demand courier delivery service, has raised an undisclosed amount in 4 funding rounds and is backed by 10 investors including Cyberport Macro Fund and Alibaba. With its efficient door-to-door delivery service and delivery optimization, Pickupp helps online stores save up to 33% in the delivery costs. It offers on-demand service all seven days with real-time GPS tracking, drop off picture and e-signature, along with cash on delivery as well as API integrations. Moreover it also offers various plans including the Express Delivery service and the Same Day Delivery service, priced at different subscriptions so users can choose the better suited option.
ZStack, an open source Infrastructure as a Service (IaaS) software, and has been funded by 13 investors and 3 lead investors, and has raised an enormous $49 million over 3 funding rounds. Its productionized IaaS software offers users a unified cloud to manage data center resources for computation and storage along with an intuitive UI and quick installation of cloud on physical servers. It is also supported by a one-click cross version update for business continuity and resource reusability. Moreover, any devices employing the x86 architecture with a CPU can deploy the ZStack software enterprise seamlessly.
Qupital
Qupital is a fintech platform based in Hong Kong, and has raised about $8 million in funding from various investors including the Alibaba Entrepreneurs Fund. Qupital allows you to invest in some of the most promising E-commerce market with top notch digitized financing services by employing machine learning and data analysis. Qupital is known for the easy and straightforward application process with a data driven credit model without any mortgage. Moreover, with the quick loan and low cost financing, the complete process is streamlined and seamless.
Aqumon, a Hong Kong based fintech company and digital wealth management platform, thus far has raised about $30 million from 6 investors including the likes of Alibaba and Cyberport. Aqumon is one of Hong Kong’s leading investment platforms and allows you the access of smart portfolios in a matter of minutes. Aqumon has a seamless investment procedure where all yo need to do is offer some insights about yourself in a short test, and Aqumon finds the perfect portfolio for you, so you can watch as your money grows. Also, even if you can’t monitor the markets on a daily basis, or can’t find the best investments, Aqumon does it for you, while you can sit back and relax.
Kneron
Kneron is an AI based solutions provider, and has raised over $73 million in funding in 4 funding rounds from 9 investors including Qualcomm and Alibaba. Kneron’s innovative and robust on-device Edge AI offers solutions to work seamlessly with cloud based AI systems, to simultaneously generate and infer data and results. Kneron offers Reconfigurable Artificial Neural Network (RANN), that adapts to recognize audio, 2D, and 3D inputs while also being compatible with AI frameworks and neural networks. Moreover, it also enables users to customize and integrate total system hardware and software solutions to make it ideal for AI computing.
Airwallex is a global payments fintech platform that empowers businesses to operate seamlessly, and has raised $402 million in 11 funding rounds backed by 8 lead investors and a total of 17 investors. Airwallex enables business across the globe efficient and seamless trading and reduces currency exchange friction while also introducing you to revenue streams in newer markets. You can also hold your funds in a foreign currency, and reduce fee when converting and withdrawing funds in your preferred currency. Moreover, Airwallex also allows for low fee international payments with faster methods along with batch payments.
Prenetics
Prenetics, a genetic and diagnostic health testing platform has raised $67 million in funding from 10 investors including Alibaba Entrepreneurs Fund and Venture Capital. In the wake of the pandemic, Prenetics was appointed and sponsored by Hong Kong’s government for COVID-19 testing, and with the help of Oxsed, Prenetics has helped over 200K staff of restaurants, supermarkets, and other services by identifying and isolating infected individuals. Prenetics has always strived to provide valuable and actionable health related information and has till date conducted 400K DNA tests worldwide and counting.
Conclusion
Alibaba Entrepreneurs Fund is a non-profit subdivision of the Alibaba Group, and is aimed at helping the Startup Ecosystem grow. While Alibaba offers a Youth and an Investment program that is more focused Hong Kong and Taiwan based entrepreneurs, it has also invested in Startups from India and other foreign countries with great upside potential. All in all, lately many industrial giants including Google and Microsoft have demonstrated interest in funding startups, and in the near future, revolutionary startup ideas will be more than welcome for investment capital and mentorship.
Entrepreneurship is one of the growing professions in the recent times, and more individuals are gearing up to work on their own startups with unique and actionable ideas. Startups with a practical solution, and a roadmap to build a fortune out of it are often funded by venture capital and investment firms. Such firms offer private equity finances to startups in need of funds, for a fraction of the company itself. While there are discrete firms for such investment, larger corporations including Google and Jio haven’t held back from this either.
Microsoft offers an accelerator program, called the Microsoft Co-founder’s fund for venture capital to startups with great potential. Microsoft has so far made about 147 investments in different funding rounds along with over 200 acquisitions. The numbers place Microsoft in one of the top startup investors in the industry. So here we discuss 10 promising startups that Microsoft has invested in, and the solutions they have to offer.
Bindwise is an E-commerce based platform, and has raised about $86K in a total of 5 funding rounds, with the latest round held in the May of 2020. Bindwise offers robust E-commerce solutions for online merchants and sellers assisting them in time, stock, and inventory management. Workflow is an ever changing regime, and Bindwise knows exactly how to eliminate most of the manual work and manage orders as well as the inventory. Bindwise keeps you posted in regards to the latest Amazon trends that are likely to impact your sales, while also warning you of the defects in listing, policy violations, and other important issues, hence giving you a head start.
Co-founded by Tushar Vashisht, Mathew Cherian, and Sachin Shenoy, HealthifyMe was included in Microsoft’s Incubator program for its quality results in eating habits and fitness. With a user base of over 19 million, HealthifyMe has delivered and made its presence felt in the community of fitness enthusiasts, and helped users with weight loss, leading a healthy lifestyle, diet plans and other health sensitive issues. Users can communicate with certified fitness coaches, and monitor their progress by tracking food intake, workout routine and water intake, and witness the change steadily.
xCloud has raised a total of CN¥ 5M in 2 rounds of funding, including one lead by Microsoft Accelerator. xCloud is supposed to be a cloud-based gaming platform for web browsers, and will allow Xbox players to access their games through a browser. While currently, the xCloud works on android devices as well as tablets, the web version is in the works and will include a simple launcher with various functionalities including game recommendations, resume recently played titles, and more. The web version is currently supported by chromium browsers such as Google Chrome and Microsoft Edge, but is scheduled to be previewed soon.
Springboard
Springboard, the online workforce training and learning platform has secured funding from various investors, Microsoft Co-founder’s fund being one of them. Springboard offers part time bootcamps, that serve as a great help for professionals getting ready for their career within months. Once enrolled in a course offered by Springboard, users are assigned a mentor and are provided with the best in class curriculum, curated with diverse perspective by experts. All the lessons are taught to implement in the real-world with problems and project based assignments, while also offering the users valuable insights and feedback by the mentor on a weekly basis.
AppyWay
AppyWay, a kerbside management, mobility, and parking solutions provider, has secured an investment of over $12 million in different funding rounds from 12 investors, Microsoft being one of them. The parking solutions that AppyWay has to offer are meant to enable intelligent mobility and provide accurate off-street parking information. AppyWay also offers a traffic mapper, a traffic order tool meant for high performing authorities, as well as a traffic engagement tool for digitizing public consultation. It also furnishes users with Parking API and a Last Meter Navigation for enabling creaseless journeys with destination and drop-off data.
Cloudflare
Cloudflare is a web infrastructure and website security platform, and has raised about $332 million in funding up till its Series E funding from some big name in the industry including Google and Microsoft. Cloudflare offers an integrated global cloud network that users can deploy to boost and secure their websites. The security options that Cloudflare has to offer include advanced DDoS (Distributed Denial-of-Service) along with intelligent Web Application Firewall, along with performance boosting with intelligent routing and mobile optimizations. Moreover, its serverless platform and reliability has attracted investments from various venture firms.
Cognisess, a market leading software provider, has been funded by 4 investors including the Microsoft Accelerator, and acquired Meet The Real Me in 2015. The solutions that Cognisess has to offer help businesses all over the world recognize, nurture, and retain talented individuals for a strong and productive workforce. Cognisess brings together the power of data science and the intelligence of machine learning, and helps make more informed and data driven decisions. It helps track employee performance and productivity and keeps them engaged with real-time feedback to manage the workforce.
AppsFlyer
AppsFlyer, a SaaS mobile marketing analytics and attribution platform, has raised over $290 million in various funding rounds and from 12 investors, including the Microsoft Accelerator. AppsFlyer is known for furnishing users with accurate data combined with a customer centric approach. Be it marketing analysis, cost aggregation, or even fraud protection and deep linking, AppsFlyer has all the solutions for industries including E-commerce, Entertainment, Finserv, Gaming and others. Moreover, the resources that AppsFlyer has to offer include Blogs, reports, podcasts, boards and a MasterClass with avant garde training for mobile attribution.
The Fabulous is a health, wellness, and fitness platform as well as your own personal coach, and has been funded by Microsoft Accelerator in the Venture Round. While some of us hardly find any time to hit the gym, The Fabulous helps us build and follow a strict and effective daily routine. Be it a coach that assists you throughout your transformation journey, or the discipline you need to endure it, The Fabulous is as good as the name suggests, and helps you achieve your set goals. One other perk that it has to offer is that you also get to connect with others with similar interest and hence become part of an organized community directed and motivated to the same goal.
Sentri
Sentri, an AI powered access governance control system, has secured a strategic investment by the Microsoft Accelerator along with some other investors, and has raised over $855K in 3 different funding rounds. Sentri offers enterprise grade security services that include detection and prevention of security breaches, digitization of employee onboarding and off-boarding, as well as monitoring data security risks. Sentri also allows users to automate access controls, customize workflows, monitor real-time risks, and all that with the most intuitive and efficient UI. Moreover, integrations such as Oracle, Google Apps, Salesforce, and Office make Sentri all the more seamless and viable.
Conclusion
Microsoft, for the next couple of years has pledged to invest about $500 million in visionary startup ideas through its Microsoft for Startups program, dedicated to helping B2B startups to scale their company. Likewise in the years to come, worth of revolutionary startup ideas is going to be recognized by larger corporations and investment firms. Hence, startups with high potential will be more than welcome in the time that lie ahead, and more investors will be inclined to empower entrepreneurship than ever.
Piyush Mishra
