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Tag: startups

  • Top 3 Generic Medicine Startups That Are Reshaping the Pharmaceutical Industry in India

    Medicine is considered one of the most essential needs for all of us. The Indian Pharmaceutical space is witnessing a storm of new start-ups, not only for cash flow opportunities the sector offers but for making affordable medicines. Lack of access to good quality and affordable medicines is a major challenge in Indian healthcare.

    Medicine is concerned with maintaining and restoring human health, and the role of the pharmacist is vital for the benefit of patients. Not all medicines are available at low prices and thus not everyone can afford them. So for those customers who cannot afford expensive brand medicines, there is a generic medicine which is at a fairly low price. Here we are going to talk about the Top 3 Generic Medicine Startups that are Reshaping the Pharmaceutical Industry in India.

    What Are Generic Medicines?
    Generic Medicines Are Safe?
    Top 3 Generic Medicine Startups in India
    StayHappi
    Zeno Health (Generico)
    Generic Aadhar

    What Are Generic Medicines?

    Generic drugs are identical to brand-name drugs that have the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. Generic drugs are only cheaper because the manufacturers have not had the expense of developing and marketing a new drug.

    Generic Medicines Are Safe?

    Generic medicines are as safe as branded medicines. The FDA requires that generic drugs work as fast and effectively as brand-name drugs. The reason generic drugs are cheaper is that companies don’t have to spend on research and development of generic drugs if they have patents for brand-name drugs.

    Top 3 Generic Medicine Startups in India

    StayHappi

    Startup Name StayHappi
    Headquarter Delhi, India
    Industry Pharmaceutical
    Founder Arushi Jain
    Founded October 2017
    Parent Organization SarvaGunAushdhi Private Limited
    Products Allopathic, Ayurvedic, Herbal medicines, Neutraceuticals, OTC, Consumables, Cosmetics, Surgical items and Medical Devices.

    StayHappi was founded by Arushi Jain in October 2017. StayHappi Pharmacy offers these legitimate medicines at reasonable prices and empowers them to make the right choice. They offer high-quality generic medicines at 30- 90% lower MRP as compared to branded medicines and are leading the way in making healthcare more affordable.

    StayHappi

    StayHappi Pharmacy provides high-quality generic medicine so that people can get the best allopathic medicines at the most affordable prices. There is a growing demand for nutraceuticals and StayHappy provides these products as well. StayHappy Store also offers Ayurvedic Medicines, to cater to the health care basket and cater to people who have a penchant for Ayurvedic and herbal medicines. StayHappy also provides medical consumables and cosmetics at its stores.

    StayHappi Pharmacy Company Profile – Generic Medicine Startup in India | Founder
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Medicine is considered to be one of the most important necessities for all ofus. It is concerned …
    StartupTalkyChayanika Goswami

    Zeno Health (Generico)

    Startup Name Zeno Health (formerly Generico)
    Headquarter Mumbai, Maharashtra
    Industry Pharmaceutical
    Founder Siddharth Gadia
    Founded May 2017
    Products Cardiovascular, Gastrointestinal, CNS, Urology, Disorders of Aging

    Generico was founded by Siddharth Gadia in 2017. Fastest-growing speciality pharmacy retail chain of generic drugs. Started by IIT Bombay alumni, Generico aims to make healthcare affordable for millions of Indians. It offers the largest portfolio of generic drugs from reputed pharma companies under one roof and offers up to 80% lower prices.

    Zeno Health

    Zeno Health is India’s fastest-growing pharmacy retail company, with a presence in 100+ locations and the biggest private generic player in India. Zeno Health aims to satisfy consumer needs of trust in the quality of medicines, easy availability and best price, in accordance with their mission statement– Think Medicines, Think ZenoHealth.

    List of Top 10 Pharmaceutical Companies in India
    Due to COVID-19 [/tag/covid-19/] pandemic, Healthcare [/tag/healthcare-startup/] facilities and medicines have become need of the hour. India, the second-largestpopulated country, is also growing the number of diseases along with while India’s pharma sector is also growing and changing lives. Acc…
    StartupTalkyAshwini

    Generic Aadhar

    Startup Name Generic Aadhar
    Headquarter Maharashtra, India
    Industry Pharmaceutical
    Founder Arjun Deshpande
    Founded 2019
    Products Medical Supplies

    Generic Aadhar was founded by Arjun Deshpande in 2018 in Thane. Generic Aadhaar provides generic quality medicines from reputed pharma companies at up to 80% fewer prices. It offers a wide portfolio of branded, generic, homoeopathy and Ayurveda medicines from government-approved manufacturing facilities.

    pharmaceutical startup
    Generic Aadhar

    Generic Aadhaar aims to partner with 1000 pharmacies on a franchise-based model in the coming months and expand its reach to markets such as Tamil Nadu, Andhra Pradesh, New Delhi, Goa, Rajasthan, and Gujarat. Ratan Tata has invested an undisclosed amount in this pharmaceutical startup Generic Aadhar.

    List of 24 Startups Funded by Ratan Tata
    > “If you want to walk fast, walk alone. But if you want to walk far, walktogether.”- Ratan Tata, Tata GroupThe Tata Group [/tata-group-case-study/] has invested in numerous sectors of theeconomy over the years. Consequently, the behemoth organization has infiltrateda number of markets such as …
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    Conclusion

    Generic medicine startups are doing a great job by providing generic medicines at affordable prices to customers who cannot afford branded medicines. As India is the largest provider of generic drugs globally, the Indian pharmaceutical sector supplies more than 50 per cent of the global demand for various vaccines, 40 per cent of generic demand in the US, and 25 per cent of all drugs in the UK. It is also expected to grow to US$ 100 billion by 2025.

    FAQ

    How to start a generic medicine business?

    Start with the premises of your office, a unique and meaningful brand name, and finances. Then get your business registered. The main steps of registration are Digital Signature Certificate, Director Identification Number, getting user registration, and filling out the e- form. The next steps include getting the GST number, trademark registration, and FSSAI registration.

    What is an example of a generic medicine?

    The majority of drugs, particularly life-saving are manufactured and sold as generic drugs. One example of a well-known generic drug is metformin, which is used to lower blood sugar levels in diabetes.

    What are generic medicines?

    According to FDA generic drug is a medication created to be the same as an already marketed brand-name drug in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use.

    Is the generic medicine business profitable?

    Yes, according to a recent study margin on generic medicines can be  100%. As per recent reports, the Indian pharmaceutical industry is largely dominated by ‘branded generics’ that are cheaper, more effective, and safer. India is the second-largest producer of generic drugs, therefore, the generic market is anticipated to offer so much to the Indian economy.

  • Startups Funded by Amazon | Alexa Fund Portfolio Companies

    Investment in promising startups is one of the newer trends, one that tech giants are seemingly interested in since the last decade. Larger corporations including Google, Amazon, and Facebook are offering Startup Accelerator Programs in which startups can register and showcase their potential as a consumer service or other niche. If the startup idea is recognized as a promising investment, they are funded by these corporations accordingly.

    Like other tech giants, Amazon is not new to the investment game, and has been funding startups since the previous decade through the Alexa Fund. Amazon has invested in all kinds of startups, ranging from Fin-tech to online education platforms to healthcare startups, it found promising. Although not all, below is the list of top startups that Amazon has funded, in different domains, and the rounds they were funded in and the investment amount.

    Blutag
    Fiddler
    Amira
    Yourika
    Lightform
    Zoobean
    HelixAI
    Aspinity
    Aaptiv
    SmartRent

    Blutag

    Blutag is a startup in the field of Machine Learning and Artificial Intelligence, and aims to develop voice shopping and integrate it with brands. Blutag has raised $1.5 million in 2 funding rounds, with Alexa Fund participating in the seed round. While it allows natural language conversation between users and the voice assistant, Blutag also helps sellers enhance sales through simple voice searches. It even makes personalized recommendations through AI, and creates an overall better and more convenient shopping experience.

    Fiddler

    Fiddler offers an explainable AI platform and helps you deploy robust AI solutions. Fiddler has recently secured a strategic investment from Alexa Fund, and is looking to expand its horizons and advance actionable AI insights to help businesses. Fiddler helps businesses by offering them complete transparency into the production AI systems so robust and high-performance AI solutions can be deployed. As of now, Fiddler has raised a total of $14 million which includes a funding of $3 million in the seed round.

    Also Read:

    Amira

    Amira Learning, the first AI powered learning assistant that uses speech recognition to help young readers, has secured an investment from the Amazon Alexa Fund. Amazon Alexa and Amira will work together to assist kids by tutoring them to read and learn via different devices and platforms. Amira was founded by the product and engineering team at Renaissance learning, and exhibits and demonstrates the ability to help children read and grow with an experience close to having a dedicated private tutor.

    Yourika

    Yourika, an AI assisted learning solution has been funded by top investors across North America including Amazon through the Alexa Fund. Yourika was founded by AI and EdTech experts with the idea that ‘anyone should be able to learn and discover anything, anywhere and at any time.’ Yourika has a lot to offer including live transcriptions, ORBITS, an efficient study tool, along with AI based learning APIs. The team of researchers at Yourika Labs is constantly working towards deploying newer methodologies to transform learning experience.

    Lightform

    Lightform, an augmented reality hardware company has recently secured a strategic investment from Amazon’s Alexa Fund and other investors including Lux Capital and CrunchFund among others. The products manufactured by Lightroom include LF2, the first sound sensitive AR projector, LFC kit for mounting and adjusting configurations, and a content creation software with a perpetual license. Lightform allows you to create immerse designs, map complex and organic forms, create content through adaptive visuals, and deploy content in the form of an immersive AR experience.

    Amazon Success Story | Latest News | Amazon Founder CEO | Revenue | Funding
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Online shopping has become a part of the daily life for most us today. As per Statista[https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/…
    StartupTalkyHimaya Presthitha

    Amazon Success Story

    Zoobean

    EdTech company Zoobean has secured investment by Amazon through the Alexa Fund, and looks to incorporate voice technology into its reading software through the raised capital. Be it educators, librarians, or families, Zoobean helps every willing individual to participate in and gain insights with reading challenges. Zoobean offers Beanstack for school districts, Beanbright for classrooms and school buildings along with badge books for high quality reading logs. With over a thousand clients so far and regular webinars co-hosted by clients, Zoobean is one of the leading EdTech companies when it comes to smart and efficient reading.

    HelixAI

    HelixAI, a voice powered digital assistant manufacturer, after participating in the Amazon Alexa Accelerator program has secured an investment from the Alexa Fund. The digital assistant for scientific laboratories build by HelixAI responds to regular queries in real-time and revolutionizes hands-free information access. While it can function as the laboratories voice activated search engine, its knowledge base can be customized to alter its response system for the information to be more scientifically relevant. It also helps researchers manage their inventories and effortlessly go through the protocol of their experiments.

    Aspinity

    Aspinity is a pioneer in ultra-low power analog edge processing, and has recently $5.3 million Series A funding round led by Anzu Partners and Amazon’s Alexa Fund. The power efficient analog machine learning chip is based on neuromorphic and computational electronics along with bio-inspired always-on sensing for high-octane power supply. The chips developed by Aspinity sort and filter out the irrelevant data resulting in lesser data processing, hence saving both time and energy and offering the device a longer battery life by about 10 times.

    Relevant Read:

    Aaptiv

    Aaptiv is a fitness app for anyone who isn’t able to plan out a day, and has raised $22 million in Series C funding round led by Amazon’s Alexa Fund with a current valuation of over $200 million. Aaptiv offers users access to thousands of workout classes every week, and has been an ever expanding community of over 200K fitness enthusiasts. Users can avail fitness programs tailored to their specific needs and routine, along with the guidance of expert trainers for the workout sessions. With just the right techniques, tips, encouragement and music, Aaptiv is striving to transform workout sessions more gratifying.

    SmartRent

    SmartRent, a smart home automation solution provider, has recently raised $60 million in Series C funding led by Amazon’s Alexa Fund. SmartRent has a lot to offer including self guided tours, parking management, access controls along with smart apartments. The smart home solutions are developed by multifamily operators for efficiency, convenience, and asset protection. The contactless property access management coupled with remote controls of doors, thermostats, and lights make it a trusted and reputed brand among operators and homebuilders.

  • How to Register a Business in India

    The 21st century is the century of startups and new rising companies. If you too want to start something of your own, something different and promising but don’t know how to put it up in front of the world in a legal way or you are too intimidated by the modus operandi here’s something for you that can help you start your venture of business and money-making.

    Some Fundamentals of Registering your Business in India

    Checklist for Business
    Checklist for Business

    Before going for the legal authentication part make sure you have done some profound research on the market you are going to step in, build a product that fits the demand of the people, and have an easy yet noteworthy name for your brand so that your registration process goes as smooth as it can be. You simply can’t build a business if you don’t have the exact idea of what you are going to present in front of the world. Make sure you are confident enough to start sailing in the ocean of marketing.

    Registering your business offline could be a complicated and greasy process. It is far better to do it online and it gives more transparency on how the systems work. Here are certain procedures that have been broken down into simple steps to help you register your business in India.

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    Guide to DPIIT Startup Registration

    Visit the Website of the Ministry of Corporate Affairs

    When you start the process of registration, first of all, you need to visit the government website of the Ministry of Corporate Affairs (MCA). There you will need to find two forms, one of them is named DIR-3-KYC and the other as DSC (Digital Signature Certificate). You need to fill out these two forms first then apply for the DIN i.e. Director Identification Number.

    Register Business in India-Required Documents
    Documents to be submitted

    While filling out both of the forms you need to have certain documents handy as they have to be submitted along with both of the forms. These documents include proof of address, educational qualification, current occupation, passport. Along with all these documents you also need to send some passport size photographs.

    After filling out these forms you will have to register for the Digital Signature Certificate, also known as DSC without which you won’t be able to apply for the company registration in the online mode. For this, you also need those same documents which include proof of address, educational qualifications, current occupation certificate, passport, and passport size photographs.

    File an Application

    Once you are done with the previously mentioned forms, prepare an application. In this part, you will have to fill up the 1A form electronically. This process officially performs the registration of the name that you want to give to your company. You cannot just give a name that you think is suitable for your business. Here you will have to send a list of at least four names out of which one will be selected by the RoC based on their availability and whether they are appropriate. It is normally better to give more than 5 names as you will have more chances for your application not to get denied.

    The RoC (Registrar of Companies) might take up to 2 days to respond. In this process, you will have to pay a fee of Rs. 500. Once the RoC approves the name that you have provided, the registration of the company must be done within 6 months of approval. If not done within the period, the whole process of registration has to start all over again.

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    Draft the MoA and AoA

    The last step of registration includes the drafting of the Memorandum of Associations (MoA) and the Articles of Association (AoA). As these are two legal forms, these need to be dealt with carefully where you might take help from Lawyers while filling out the forms. The MoA provides a list of the different agendas of the company while the AoA lists out the details of the Company’s operation and its management. Both the Documents need to be compulsorily signed and attested by a minimum of two people from the company with a person being the witness of the whole drafting process.

    Drafting Documents for registering business in India
    Draft MoA and AoA

    After doing so these documents are to be sent to the RoC for the verification process. After the documents get approved by the authority, a print out must be taken out so that you can get them validated. Then you can attach these documents along with all other documents necessary for the registration of your business.

    With all of the above documents attached, you can now apply for the registration of your company by submitting the documents to the RoC. You have to register your company in the state where you will be performing your business. Then you will be provided with a certificate of Incorporation from the RoC which is the legal Certificate that declares the business to be legal and to be your own. This means that your business is registered and you can simply start conducting your business.

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    What after Registration?

    After the successful registration of your new Business, there is another additional step that you must do before starting your business. You must apply for a GST number, which when registered will complete the whole process of your company’s registration.

    This must have given you the basic idea of how to register your business in the smoothest way possible. Though there might be some extra procedures involved, depending on your location and the type of business you want to run, it is always better to get started as soon as you can.

    Conclusion

    Registering a business in India is not that complicated as it may feel. You just need to have some knowledge before getting down on the platform. The procedures set by the government for a successful registration is a quick and sorted process which makes it easy for a new company to start and run without much complications. After you are done with registering your business in India, it is now time to make it prominent and successful. There is one small piece of advice that you may need before you start your business venture is that no matter how challenging and exhausting the market makes you feel if you can make it better for the customers, you will surely succeed in your business. Keep your hopes high and your visions clear.

    FAQs for Registering your business in India

    How to register a foreign company in India?

    A foreign company can establish its business in India by filling out the FC-1 e-form. A digital signature of the official representative is needed whiling filling out the form electronically. There is no need to apply and obtain the DIN for the Directors of the foreign company.

    What is the objective of small business registration in India?

    Regardless of the type of business you want to run, you will always have to register your business officially. The reason being that a certain business transaction must follow specific rules and guidelines for being legal in India. Registering the business declares the company to be yours, secures the name of your company, and gives you the authenticity to take any legal actions whenever necessary.

    Can I get a registration number for my business?

    On applying for registration you will be given a recognition number for your business. This number will be provided to you once there is complete verification of your documents.

    How long does it take to start a business in India?

    It normally takes two to three weeks to complete the registration process and you can start your business in India within a short span. After you are provided with a legal recognition certificate for your business, the Indian Director can help you with opening a bank account in the company name.

    How to choose a company name?

    It is better to search for a name that is simple, easy to pronounce, and is relevant to your business. You can always take help from the internet. The RoC may expect you to follow some naming guidelines while naming your company.

  • Startups Funded by Blume Ventures

    Blume is an inaugural investment fund that offers both capital and direct mentoring assistance to start-ups. They normally invest in technology-based startups led by entrepreneurs obsessed with addressing difficult issues, which are unique to India and have an effect on wide markets. Their vision is to be the main line to support the best new start-ups in India – encouraging them to ‘Blume.’ It is one of the most prolific and valued VCs of India today, with 22 exits, more than 75 involved portfolio startups and $225 million in capital management.

    Blume has participated in the B-to-D rounds of online learning company Unacademy, the robotics company Gray Orange, the Gadget repair firm Servify and the insurance company Turtlemint, the shipping company Dunzo, the makeup company Purplle. With its third 102 million dollars fund and acquisitions in early stage technology-led start-ups, Blume has closed the fund.

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    How does it help Startups to grow?

    Filled the void
    Filled the void 

    In 2010, Blume Ventures was started by Karthik and Sanjay to rethink entrepreneurship funding for India. In 2010. They did so by the creation of an unconventional venture company which could operate at the pace but be institutionalized in its approach of an angel investor.

    This start-up investment fund has grown and funded transformative projects and passionate entrepreneurs in three funds to become a core player in the start-up ecosystem of India. They participated in and contributed to the construction of over 100 startups, in geographical and vertical areas.

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    What kind of Startups does it Invest in?

    They aim to spend roughly 60–65 percent of the new fund in domestic heavy industries, including medical services, financial services, tourism, exchange and brands, employment and education, and digital media and entertainment. Other companies that innovate and engineer with local talent pools, and still scale internationally, are the software (Cloud, IT, analytics, SaaS, vertical software) and deep technology (agritech, defense, robotics, IoT, blockchain).

    This list of organizations invested in by Blume Ventures:

    1. Dunzo

    Dunzo Logo
    Dunzo Logo

    In pre-series A round of funding led by Aspada Investment Advisers and Blume Ventures, Chat-based regular tasks management software dunzo has increased $650K (around INR4.4 Cr). Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas began Dunzo in 2015. The startup features a chat gui, which enables users to create to-do lists and cooperate with partners (sellers) to accomplish them. It uses AI (artificial intelligence) and human operators to offer solutions for the everyday tasks of consumers. The rates of 10,000 ‘moments of customer enjoyment’ now run every month.

    In four areas – sending, ordering, fixing, and home services – Dunzo currently offers solutions. Personal assistant chat applications easily catch up in India. These applications use chat to interrupt local exchange in the region, estimated to be an industry of $750 billion.

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    2. Unacademy

    Unacademy Logo
    Unacademy Logo

    India’s got a new unicorn start-up.  Unacademy revealed a new $150 million funding round for online learning located in Bangalore. Unacademy helps students train for challenging tests and those taking graduate courses to enter a program. In its app, students view teachers’ live classes and then participate in conferences to further review subjects. In recent months, a host of high-profile personalities, such as the Indian politician Shashi Tharoor, have conducted online interviews on a variety of subjects, which have extended their reach to the students.

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    3. BeatO

    BeatO Logo
    BeatO Logo

    The health technology start-up BeatO revealed it will all enter the extremely complex Southeast Asian market. The startup will make its debut on the ASEAN market by first releasing its products on the Singapore market. This promotes the treatment and regulation of diabetes. It is the first ever international expansion of BeatO and in accordance with the company’s long-term goal of entering a region where patients with diabetes are more penetrated. Singapore is perfectly tailored to the bill because it has a 10.5% diabetes rate relative to the 8.8% global average.

    The business says that the COVID 19 pandemic has helped greatly. It claimed that the COVID 19 accelerated digital healthcare adoptions and noted improved participation rates with a much higher level of blood sugar testing, diabetes educators and platform consultations. In a Series A round in early 2020, the health-tech startup raised USD 4.1 million and to date raised USD 7 million in funding. Leo Capital, Blume Ventures and several others are some of its famous investors.

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    4. LoveLocal

    LoveLocal Logo
    LoveLocal Logo

    LoveLocal, which was created by Akanksha Hazari, digitizes the neighbourhood shopping experience and organizes local Indian retailers. By allowing local distributor companies like e-tailers to digitize customer relations, and perform tailored promotions and loyalty, LoveLocal brings district stores across segment, internet and convenience, with the best possible distribution, operation, credit and freshness promised by local retail companies, to handle all household business and tasks in one area.

    In addition to the prominent investors of angel, including Kevin Aluwi’s CEO and Co-Founder of Gojek and Survir Varma, M.Paani recently raised US$ 5.5 million in the Series A funding round led by AC Ventures, Henkel, and Candy. The round was also attended by established investors Chiratae Ventures and Blume Ventures.

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    5. Purplle

    Purplle Logo
    Purplle Logo

    Purplle is funded by Blume Ventures, IvyCap Ventures, JSW and more than 30 million dollars earned by Goldman Sachs and Verlinvest last year. The Spring Marketing Capital fund has invested in Purplle, the beauty e-commerce website, for the first quarter, $1 million from the company’s maiden fund. In late 2011, Taneja (CEO) and Rahul Dash co-funded the Mumbai-based startup, and the website came into being in January 2012.

    The portal sells men and women products for skin care, make-up, hair care, body care and beauty equipment (electronics). Brands such as Davidoff, Hugo Boss, Elizabeth Arden, Victoria’s Secret, Lakme, L’Oreal and Maybelline.com are available here. The labels are the finest brands available. The business already has offices in the NCR area in Bangalore in addition to Mumbai and now plans to open a new one. Furthermore, by mid-2014, the company plans to extend the spa/salon to eight towns, such as Bangalore, Pune, Hyderabad and Chennai.

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    6. SquadStack

    SquadStack Logo
    SquadStack Logo

    In Series A funding round led by Chiratae Projects, San Francisco and New Delhi-based SalesTech start-up SquadStack raised $5 million (nearly INR 36.8 Cr). This round was also attended by the company’s current investor, Blume Ventures. This funding is used by SquadStack to drive product development and attract top product, technical and data sciences talent in the United States and India.

    In 2014, Apurv Agarwal, Rishabh Ladha and Vikas Gulati, Kanika Jain were formed by SquadStack. The platform increases the productivity of customers who sells high-tech goods and services in sectors like immovables, financial services, education, health care and the retail industry. In 2018, SquadVoice, which was rebranded as SquadIQ in the Indian markets, also began its Sales Acceleration.

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    Conclusion

    Blume Ventures funds in the subsequent financing rounds of Funds I, IA and II portfolio start-ups. The fund has a 24-month funding cycle and startups as they have business openings. By mid-2020, the organization plans to participate in the fund. As of now, it has previously invested in Fund IIA, Unacademy, Grey Orange, Servify, Turtlemint and Dunzo, Purplle and IntrCity.

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  • Top Automobile Startups In India

    India became the fourth largest auto market in 2019 displacing Germany with about 3.99 million units sold in the passenger and commercial vehicles categories. Automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of 6.94% during FY16-FY20. There are several initiatives by the Government of India and major automobile companies in the Indian market is expected to make India a leader in the two-wheeler and four-wheeler market in the world. There are many automobile startups in India. Indian automobile industry mainly focused on servicing, dealership, financing, and maintenance of vehicles. The Indian automobile industry includes two-wheelers, trucks, cars, buses, and three-wheelers which play a crucial role in the growth of the Indian economy. India has emerged as Asia’s fourth-largest exporter of automobiles, behind Japan, South Korea, and Thailand.

    • India is expected to be the world’s third-largest automotive market in terms of volume by 2026.
    • The EV industry will create five crore direct and indirect jobs by 2030.
    • In April-March 2020, overall automobile exports registered a growth of 2.95%.
    • Passenger vehicle exports marginally increased by 0.17% and two-wheeler exports registered a growth of 7.30% in April-March 2020 over the same period last year.
    • The sector attracted $24.5 billion FDI during April 2000 – June 2020; accounting for 5.1% of the total FDI inflows.
    Automobile Production and Sales Trends
    Automobile Production and Sales Trends

    Tata Motors Ltd

    Tata Motors Limited, a USD 35 billion organization, is a leading global automobile manufacturer. The company produces passenger cars, including popular models such as Jaguar, Land Rover, Safari, and Sumo, and commercial vehicles, such as buses, trucks, tractor-trailers, light commercial vehicles, and defense and construction equipment. Tata Motors sells its vehicles through an extensive dealer network in India and export vehicles to countries in Africa, Asia, Europe, the Middle East ad South America. In India, Tata Motors is a market leader in commercial vehicles and among the top passenger vehicle manufacturers with 9 million vehicles. Tata Motors strives to pioneer new products that increase the imagination of GenNext customers. The product range includes high-performing engine oils, gear oils and rear axle oil for commercial vehicles range manufactured by Tata Motors for both the on-road and off-road applications segment.
    Revenue INR 3.02 lakh Crores
    Market Cap Rs 199,130 Crores
    Market Share Passenger Vehicles (6.3%)
    Commercial Vehicle (45.1%)
    Promoter Holdings 38.37 %

    Maruti Suzuki India Ltd

    Maruti Suzuki India Ltd (formerly Maruti Udyog Ltd) is India’s largest passenger car company, accounting for over 50 percent of the domestic car market. The company is engaged in the business of manufacturing, purchase, and sale of motor vehicles and spare parts (automobiles). The company was formed as a government company, with Suzuki as a minor partner to make a people’s car for middle-class India. The company’s product range has widened, ownership has changed hands and the customer has evolved. According to Automotive Intelligence, Suzuki is the eleventh largest vehicle manufacturing company in the world and fourth in Japan in terms of worldwide sales. Maruti’s profit increase to a 98% rise in its economic second-quarter net profits and they are planning to invest $32.3 million.
    Revenue Rs. 88,630.1 Crores
    Market Cap Rs 199,130 Crores
    Market Share Passenger Vehicles( 53 %)
    Promoter Holdings 56.21 %

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    Mahindra & Mahindra Ltd

    Mahindra & Mahindra Limited (M&ML) founded in 1945 at Ludhiana, is an Indian multinational automobile manufacturing company. They are market leaders with the vision to drive the industry trends in the direction of technological creativity, social duty, and constant enhancement of customer contentment. The Company’s automobile products include light, medium, and heavy commercial vehicles, jeep-type vehicles, and passenger cars. The company launches a new visual identity reflecting modernity and dynamism.
    Revenue Rs. 1.06 lakh Crores
    Market Cap Rs 70,725 Crores
    Market Share Passenger Vehicles( 7.4 %)
    CV(25.3%)
    Tractor (40.2%)
    UV (25%)
    LCV(44.5%)
    Promoter Holdings 18.90 %

    Hero MotoCorp Ltd

    Hero MotoCorp Limited is the world’s largest manufacturer of two-wheelers. The company has four manufacturing facilities namely Dharuhera and Gurgaon in Haryana, Haridwar in Uttarakhand and Neemrana in Rajasthan. The joint venture between India’s Hero Group and Honda Motor Company Japan has not only created the world’s single largest two-wheeler company but also one of the most successful joint ventures worldwide. As per the terms of the Agreement, Honda had agreed to transfer its entire shareholding of 26% in the company to the Indian Promoter Group.
    Revenue Rs. 29,614 Crores
    Market Cap Rs 57,180 Crores
    Market Share 36.0%
    Promoter Holdings 34.63 %

    Bajaj Auto Ltd

    Bajaj Auto Ltd is one of the leading two & three-wheeler manufacturers in India. The company is well known for its R&D, product development, process engineering, and low-cost manufacturing skills. The company has two subsidiaries name Bajaj Auto International Holdings BV and PT Bajaj Indonesia. The holding company operated in the auto, wind-energy, insurance, and others. The company is the flagship firm of Bajaj Group, which also makes home appliances, lighting, and steel, as well as provides finance, insurance, and travel services.
    Revenue Rs. 29,919 Crores
    Market Cap Rs 84,763 Crores
    Market Share 18.7%
    Promoter Holdings 53.52 %

    Ashok Leyland Ltd

    The company was set up in collaboration with Austin Motor Company England for the assembly of Austin cars. Ashok Leyland, the flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 3rd largest manufacturer of buses in the world, and the 10th largest manufacturers of trucks. Ashok Leyland has recently been ranked as the 34th best brand in India. Ashok Leyland has been a major presence in India’s commercial vehicle industry with a tradition of technological leadership, achieved through tie-ups with international technology leaders.

    People, Planet, and Profit for all stakeholders especially customers are at the core of Ashok Leyland which resonates with Philosophy of ‘AAPKI JEET, HAMARI JEET’.
    Revenue Rs. 21,332 Crores
    Market Cap Rs 20,314 Crores
    Market Share M&HCV Bus segment (41.2%)
    Promoter Holdings 51.13 %

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    TVS Motor Company Ltd

    TVS Motor Company Ltd is located in Chennai, Tamil Nadu, India, and is part of the Motorcycle Manufacturing Industry. It is one of the leading two-wheelers and three-wheeler exporters from India distributing to over 60 countries. TVS brand provides highly profitable, socially responsible, and leading manufacturer of high value for money, environmentally friendly, lifetime personal transportation products. The motorcycle marks TVS Motor Company’s entry into the super-premium segment both in domestic and international markets.
    Revenue Rs. 150 Crores
    Market Cap Rs 20,178Crores
    Promoter Holdings 57.40 %

    Market Share (FY 2017-18)
    Market Share (FY 2017-18)

    Eicher Motors Ltd

    Eicher Motors Limited is an India-based company, which operates in the automotive segment. The Company owns Royal Enfield, which offers middleweight motorcycles. Eicher Motors Limited is a 50-50 joint venture with Sweden’s AB Volvo and VE Commercial Vehicles Limited (VECV) designs manufactures and markets reliable fuel-efficient trucks and buses is one of India’s leading manufacturers. In October 2017 Royal Enfield forayed into Vietnam the fourth biggest motorcycle market in the world and opened its first store in Ho Chi Minh City.
    Revenue Rs. 9,696.83 Crores
    Market Cap Rs 70,788.55 Crores

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    Force Motors Ltd

    Force Motors Ltd is a fully, vertically integrated automobile company, with expertise in the design, development, and manufacture of the full spectrum of automotive components, aggregates, and vehicles. The Company is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. Force Motors started production of the Hanseat three-wheelers in collaboration with Vidal & Sohn Tempo Werke, Germany, and went on to establish a strong presence in the light commercial vehicles (LCV) field with the Matador.
    Turnover Rs. 3,487 Crores
    Market Cap Rs 1,155 Crores
    ROE 7.67 %
    Sales Growth (3Yrs) 6.48 %

    SML ISUZU Ltd

    SML Isuzu Ltd. (SMLI) is a trusted and reliable commercial vehicle manufacturer since 1985. It has over 33 Years of experience in producing Light & Medium commercial vehicles to meet Indian customer needs. SMIL is the first company to manufacture and supply state of the artfully built Buses, Ambulances, and customized vehicles. It is the last in the list of top Automobile Companies in India.
    Turnover Rs. 1,312 Crores
    Market Cap Rs 555.36 Crores
    Dividend Yield 0.78 %
    ROE 4.79 %
    Sales Growth (3Yrs) 6.51 %

  • An Insight into one of the Most Vital Venture Capitals: Chiratae

    Nothing is more predictable like the startup ecosystem. The one residing at the top of the chart may fall into the loopholes and become less popular on any given day. The same is the story about the Indian startups who are struggling at the present moment. These ventures can become the next big thing in the ecosystem if they execute their plans very well. Now, as we discuss the stories of many venture capitals, there is one of the most vital venture capitals: Chiratae, that has helped many startups to grow and help out multiple companies to stand on their own feet.

    Quick Facts – Chiratae

    Company Name Chiratae
    Headquarter Bengaluru, India
    Sector Finance
    Founder Sudhir Sethi
    Founded 2006
    Net Worth $600 million

    Insights into Chiratae

    The entrepreneurs at Chiratae embrace the unpredictable and exploratory terrains of the startup ecosystem. The name has been derived from the animal Cheetah as most of the team members are wildlife enthusiasts. The company has helped over 80 ventures and 2 IPOs. About $700 million advisories have been done by Chiratae and the team has over 3 offices across the country.

    The company was founded by Sudhir Sethi. Post-1998, Sudhir and the team have advised on investments into 100+ companies across Deep Tech, Digital Consumer, Enterprise  Software, Fintech, and Healthcare sectors. The key investment under Sudhir is Flipkart, FirstCry, Lenskart, Policy Bazaar, Curefit, Manthan, Newgen, Nestaway, and many more to name.

    Success story of Chiratae
    Sudhir Sethi

    The company is now one of the leading tech venture capital in the country with Mr. Ratan Tata, Mr. Kris Gopalkrishnan, Mr. Burno Raschle, and Mr. Manish Choksi on its global advisory board. In 2001, Mr. Sethi was recognized by Red Herring as one of the leading venture capitalists in the country. Apart from that, he has been named among the Top Ten IT Professionals by Dataquest and Bloomberg UTV as the visionary venture capitalist. He also featured in Subroto Bagchi’s book Zen Garden- Conversations with Pathmakers in 2014.

    Adding on to that, the founder of Chiratae ventures has served on EMPEA Venture Capital Council. He has served on the executive committee of India Venture Capital Association, Investment Committee of UTI Ventures, on the Board of Advisors at N.S Raghavan Centre for Entrepreneurship, IIM Bangalore. Sudhir has completed his BTech in engineering and holds an MBA degree from FMS Delhi, one of the most prestigious institutions in the country.

    Chiratae Efforts in Helping DeepTech Startups

    Being one of the leaders, risk-taker, and supporters of the startup ecosystem, Chiratae Ventures has been digging down deep and finding the uncharted terrains of the startup ecosystem since 2006. The company was formerly known as IDG Ventures. This VC has invested in over 80+ companies across consumer media and tech, cloud/software, health tech, and fintech sectors, and out of this, 25 % have made it to the global stage.

    The fundraising philosophy of the founder includes the entrepreneur being a stellar one, with an ability to become a huge brand and to get on to the global stage. Hence, the company has been helping out the startups successfully and continues to do so. As time passes, the company is growing bigger and better and making it to the headlines.

    Success story of Chiratae
    Chiratae Deeptech

    As the country moves from services to products to innovation to the DeepTech economy, Chiratae Ventures is on a mission to explore the trends in the ecosystem and identify when opportunities could be created. Now, the company is looking to identify and support entrepreneurs who are motivated to bring a positive impact by leveraging Deep technology.

    Since few years, the firm has nurtured and helped grow several DeepTech startups, some of them include Axio Biosolutions- MedTech to revolutionize bleeding and wound healing, SigTuple-intelligent screening solutions to aid diagnosis through AI-powered analysis of visual medical data, PlayShifu which is an AR-based interactive learning toy for kids, Zumutor Biologics- a leading immune-oncology company in the space of targeted NK cell therapeutics and Emotix- makers of Miko, an educational company bot are some of the major support provided by the company.

    Chiratae on the Path to Enable DeepTech Entrepreneurs

    Being one of the major supporters of the DeepTech movement, the company had launched a DeepTech innovators program, which was a two-day immersive event to provide startups in DeepTech space access to an ecosystem of experts and successful entrepreneurs. Talking about the event, Sudhir had cited that as investors, the team needs to reinvent to steer the country into its next growth phase.

    According to him, the country is witnessing a boom in innovation in the country and the team wants to be the catalyst for this transformation by supporting the entrepreneurs. Through this program, they have tried to bridge the gap that early startups are facing in terms of accessibility to talent, mentorship, and capital. During this event, the companies were given a chance to partner with key influencers in the ecosystem, including the DeepTech experts and industry evangelist who can provide them with expert advice and opportunities to scale their business.


    Now, as the company aims to bridge in the gap between the struggling startups and resources, it is has been taking giant strides in the ecosystem.  In this event, the team brings in a program that fosters a network-led and collaborative approach by providing selected entrepreneurs with many benefits. Some of those benefits included an increased investment process and AMA with experts who have scaled businesses across multiple sectors.

    This event also included sessions on entrepreneurship must-knows and how to create great products that can help society. Apart from this, the selected entrepreneurs got a chance to have access to seed-stage capital. Adding on to this, leading corporate brands are sharing their deep-tech knowledge with Chiratae and its partners.

    Chiratae Funding

    Announced Date Fund Name Money Raised
    Oct 9, 2019 Chiratae Ventures International Fund IV $184M
    Sep 12, 2019 India-focused fund IV $150M
    Sep 4, 2019 Chiratae’s Fund IV $20M
    May 12, 2016 IDG Ventures India Fund III $208M
    Feb 1, 2013 IDG Ventures India Fund II $175M
    Feb 1, 2007 IDG Ventures India I LLC $150M

    Chiratae as an Inspiration

    Well, if we look into how much Chiratae has contributed to the development of the startup ecosystem, we can infer that it is an indispensable part of the startup circuit. Now, a company alone cannot fuel the growth of the circuit on its own, hence, it is very much important for other venture capitals to come up and support the entrepreneurs!

  • 7 Ways To Create Best Ideas For Starting A Business

    There are so many different factors that contribute to the success of your startup. But your business idea is the most important thing among them. The idea drives your business forward. Most of the people think that starting a business is a difficult and mysterious process. Also, they don’t know about the first step to take in starting a business.

    Starting a business requires energy and time. The person, who wants to start a business, must be subject to periods of self-reflection in order to find a realistic and profitable business idea. Let us discuss about it. Where can you look for ideas for your business? There are so many ways.

    A good idea makes others to invest in the business. Also, it has an important role in creating sales and profits. The profit allows us to invest in more products and services. It enables the business to grow. But a bad idea will increase the chances to face more competition. That will be a reason of reduced sales and profits. Also, it decreases the growth of your business and you may struggle to survive.

    How to find a business idea

    There are some ways to create the right idea for starting a business. They are given below.

    1. Explore your passion

    We should identify something that we love to do. It makes you able to find enjoyment in what you are doing. We can turn our interested thing into a business idea. For example, if you love space travel, you can try to start a business of building rockets. So, you should find out what you love. Prepare a list of things you love to do. Look for the ways to turn these ideas into a business. For example, if you are interested in healthy living and also, like to discover the new ways to workout, you can start a fitness startup.

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    2. Try to identify your frustrations

    The best business ideas are coming from problem solving. There are so many problems that we are facing in our daily life. If we face a problem, we try to solve it. We can create a business through this. You need to identify and analyze the problems that you face in your daily life. Also, you should try to make solutions to those problems. All creative inventions are born out through problem solving. Your best and most profitable business ideas are the problems that you can solve.

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    3. Think about challenges of our society

    Think about the problems that are most likely to affect the future of our humanity. Identify the needs of our society. Also, think about how to solve those problems. Elon Musk is a perfect example. He is a forward thinking innovator. Musk identified the future problems and made solutions to those problems. He probably knew that there would be short-term solutions to short-term problems. So he thought about bigger future problems.

    Business idea has an important role in creating sales and profits

    As a result, Musk manufactured rocket ships, founded PayPal, built an electric car, invented a tube-travel capsule, and designed a submarine car. But you don’t need to design hyperloop capsules or rockets. There are so many other challenges. So, think about the other kind of future problems that our world is going to experience. Also, think about how to fix those problems. The People will pay you for those solutions.

    4. Study successful entrepreneurs

    It is very important to know about the great entrepreneurs and their stories. We should study about their successful business models. We can learn so many things from them. It will help you, when starting a business. Also, you will get business ideas from their business models. Try to know about how they implemented their business idea. You will get inspired by knowing about them.

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    Take a look and analyze the trending subjects on social media sites like YouTube, Twitter, BusFeed, Reddit, etc. You can quickly get into trending topics by reselling or creating services or related products. It enables you to build a valid business. Also, choose an industry and spend a few months for reading everything about it. Do it until you reach where you can find and predict upcoming trends.

    6. Find business ideas in your corporate job

    Take a look at the internal processes of the company. It includes finance & accounting, human resources, sales, management, marketing, etc. Think about how can be making this process more efficient by using technology. Try to use this process in another industry. Also, think about how its service or product can be made better and cheaper. Look for the ways to access a completely another different market for the product.

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    7. Use your smartphone

    We have experienced unavailability of App or need of improvement in an App, when searching for a needed thing in the phone. If you know to develop an application, you can use this opportunity by making an App. Also, we have experienced unavailability, when searching a product or service in the phone. We can turn this into a business opportunity by creating that product or service in the market.

    How to determine the quality of a business idea

    It’s important to determine the quality of an idea. There are some strategies to help you determine if you have a good business idea. They are given below.

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    • A good business idea is those that can solve a problem in some way. If you know that a problem affects you, your family, friends and coworkers, it’s more likely to affect people you don’t know.
    • You do not have to worry about deep financial forecasts at the early stage, but you should do some basic calculations to make sure that your idea is profitable.
    • There are several ways to solve problems, but the best business ideas do it in a way that is less costly than the market survives. You can evaluate that the solution is worthy or not through determining the price.
    A good idea is one of the important factors in the success of a business
    • You never be successful in your business without a large enough market. You should determine that if there is a niche market for your idea.  If your business is doing better than it already is, you can achieve success
    • You may need to spend all your time for the business. So it’s important to make sure that you are passionate about your idea.
    • You can’t know if your business is profitable until you try it on strangers. Try it with honest people who create your ideal target audience, and then pay attention to the feedback.

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    Starting a business is not an easy thing. You can’t be successful without taking risks. But there are differences between the calculated risks and the foolish risks. The best ideas are not the specific area of smart and most successful people. It is possible to everyone. We all can come up with an idea that will change the world, revolutionize an industry or helps you to earn millions.

  • Why Freelancers Should Leave Their Rooms and Join A Startup

    Most of the very big companies that rule over the market today started from small startups. Some of them started in a room, some in small garages. With the increasing craze and growth of freelancing in the previous years, people have developed the tendency to adopt freelancing as their full-time careers. Sure, it sounds very good to be a freelancer. You can wake up whenever you want, you can work according to your schedule, work from your own home in perfect isolation. They do not consider the possibility that they can work in startups too which is a much greater career path for their future.

    Working in startups provides you first-hand industry experience that is valuable for your career. While freelancing may seem the best option for some people, it has many disadvantages that are discussed later in this article. The startup industry has also been gaining higher altitudes in the past decades. Many startups are being started with many unique ideas that bring out the best in people. More and more people are joining startups today. Before mentioning the advantages of working at startups, we should first take a look at the disadvantages of working as freelancers.

    Also Read: The Pros and Cons Of Becoming a Freelancer

    Disadvantages of Freelancing

    • Your work is not stable and your job is not secure. You may or may not get work all the time. This is a great disadvantage because if you do not get constant work, you do not get a constant salary, which means that you’ll be in great trouble when you have to pay your bills.
    • If you are freelancing, there is no schedule for your work. You tend to work when you please. This also means that there is a possibility that you sit for hours at a time trying to finish your work resulting in overwork. This can affect your lifestyle and your health in a bad way.
    • Although it may seem to be a very good thing to some people that you work alone and isolated and at your own leisure if you are freelancing, but not being able to communicate with someone about your work or share your workload with someone can be frustrating.
    • When you start with freelancing, there is no guarantee of the fact that you will get a job as soon as you apply for it. You will face huge and large competition from people who have already established themselves as huge freelancers. Maybe you are not able to get a job or if you are, its paycheck does not meet your expectations. This can be frustrating and can severely affect your work.
    • Also, there are many jobs on freelancing platforms that turn out to be a scam once you have handed them your work. This wastes your time and efforts.

    Now that we have discussed about the disadvantages of working as freelancers are, we should also discuss how these disadvantages are overcome when you work in startups.

    Also Read: Future of Freelancing in India – Things You must Know about Indian Freelancing Sector

    Advantages of working at startups

    • If you are working at a startup, you have stable work and high job security. You constantly have work to do, and a constant salary. Initially, your paycheck will probably be low, but as the startup grows, the amount on the paycheck increases. This amount will be much more than what you would have been able to get as a freelancer. Although, some startups may pay you less, but they offer much more than salaries to their employees. Some of them may provide you with a small portion of their shares, which, when the startup becomes a multi-million one, will be greatly beneficial to you.
    • You have to work as per the schedule of the startup. This ensures that you do not have to overwork and that you follow a healthy lifestyle. Even if in some case, you have to do overwork, you will get paid for that, unlike in freelancing.
    • If you work in startups, you are surrounded by people who are talented and enthusiastic about their work. You get to learn a lot from all of these people. This also provides a good environment to work in. There are people working with you that are sharing your workload which had to be done by you alone if you were working on it as a freelancer which turns out be a very good advantage in favour of you.
    Working in Startups
    Working Alone (Freelancing) vs. Working in Groups By Sharing your Workload (Working At Startups)
    • You learn a lot about the industry and gain experience in your work. This will be useful if you are planning to join a big company or establishing your own startup in the future. You will not be able to gain all of this knowledge and experience if you are working as a freelancer.
    • You can still work as a freelancer along with your job. This way you can earn some extra bucks!

    Also Read: Smart Strategies To Get Job In a Startup Company

    Conclusion

    While working as freelancers may seem fancy, it has its own disadvantages that are already discussed earlier. When you work in startups, it will definitely give you a chance to grow, both at the professional and personal levels. If you are new to the industry or are just about to start your career, freelancing may prove useful to you, but only part-time. When you’ve had some experience, you should join startups so as to master the skills that you have learned and to get familiar with the industry. While freelancing may provide you with a good base to start something new, you should not consider freelancing as your permanent or full-time job. Just gain some experience, gather some skills, and apply to work at some established company or a new startup.

  • Facebook’s New Venture: To Invest in Indian Startups

    Facebook, the social media giant, and one of the top companies in the field of Technology has been financially helping many startups across the world in the past few years by investing in them. Facebook has invested in Indian startups as well.  Some of the Indian startups in which Facebook has previously invested have now become very big names such as the online teaching platform ‘Unacademy’ and Reliance Jio in which Facebook has invested huge amounts of money. Facebook recently has come up with a new venture for investing in startups and financially help them. Facebook recently posted a job opening for the role of ‘Head of Investments’. According to them, they were looking for someone who had at least 10 years of experience in the Technology field.

    Facebook invests in Jio

    According to the job opening posted by Facebook, they were looking for someone who can lead and manage the multi-million dollar project that invests in leading private companies and will also propose and lead the execution of many new investments in other companies and startups. The job opening floated on the internet recently but was soon taken down. Facebook has given a statement in response to this that the job vacancy has been filled without giving out the name of the person who has been selected for the job.

    Also Read: Facebook Invests $5.7 billion in Jio Platforms for 9.99% Stake

    Why has Facebook decided to take this step?

    It is believed that this has been done to ensure that Facebook stays in close touch with the startup industry all over the world and to ensure that new startups and applications that they think will do big in the future can easily be acquired by them. The general idea of Facebook remains to try and acquire companies, generally social media platforms or tech-related companies, which are already large or have the potential to grow to great heights. For example, Facebook has acquired both Instagram and WhatsApp and tried to acquire Snapchat too, but they turned down the offer. Earlier this year, Facebook acquired GIPHY – The GIF Maker.

    Facebook Investing in Startups
    Two of the Biggest Social Media Platforms have been acquired by Facebook

    Facebook has been investing in many startups. Some have received huge financial help, while others have received a  relatively small amount of financial help. Facebook remains interested in startups with ideas that can generate huge revenues. Facebook has invested billions of dollars in Reliance Jio. This venture, however, is intended upon many of the small startups in the ‘Tech’ industry which will receive comparatively small financial aids. Facebook is reportedly looking for the best startups in different categories and will include these into this venture. Facebook offers it ‘Accelerator’ service to those startups who have managed to get their services or products out on the market already and are trying to grow. Facebook also offers its services to small startups who have just been launched and are currently working on their products or services. Facebook also has the option for full training under mentors for such startups.

    Also Read: Easy Ways To Find An Investor For Your Company

    This decision by Facebook will help boost the startup culture and ecosystem in India. More and more startups will come up with many new ideas every day. Therefore, this situation is a triple win situation. Firstly, the startups will benefit as they will receive financial aids. Secondly, Facebook will benefit by receiving huge amounts of returns when these startups, which are already acquired by them, turn into multi-million companies. Thirdly, the many new ideas that the startups will come up with will prove to be greatly beneficial for the general public.

    However, Facebook is competing with many big companies such as Microsoft, Intel, and Google which are already investing in many startups around the country. All these companies try to become the leaders of this field, and these types of ventures help them succeed at this mission.

  • Survival Tips for Startups during Lockdown

    Today almost every country in the world is under lockdown due to COVID-19 pandemic to contain the coronavirus outbreak. Small businesses, startups & entrepreneurs are wondering how to survive lockdown. On one hand, you want to keep the operations going as long as possible but on the other hand, the health of yourself and your workforce is the top priority. There are survival tips that must be followed to protect your company to avoid closure of business.

    The business has surely been slow since the last few months and with the coronavirus pandemic rapidly spreading around the world, the economies are falling down drastically. Now, as over a Billion Indians are under lockdown due to the novel Coronavirus. It has created many hurdles for many established business, startups and their employees to survive in markets.

    Humankind has never witnessed anything like this before. Companies are complaining about stranded supplies and non-uniform implementation of orders by law-enforcing authorities. In addition to this; the ever-changing government rules and notifications that are putting restrictions on transport, gatherings, etc.

    Due to COVID-19, there is a huge cloud of uncertainty and darkness but as an entrepreneur needs to deal smartly with the circumstances and understand what can be done differently to get over this crisis. Many are looking for business survival tips in lockdown.

    While people are locked inside their houses for safety concerns,many major companies have adopted new ways to operate like asking employees to work-from-home, safely shutting down facilities, etc. As the markets have witnessed record falls, it is more difficult for startups to survive in this situation. So here are some strategies to help startups survive during lockdown.

    Be Open and Honest with your Customers

    Right now we are all facing uncertainty, may it be self-employed, business owners, stay-at-home parents or working a full-time job. It is important to keep our relationship with existing clients alive. Empathize because they are as badly hit as we are. So be honest with your customers and tell them what actions your business is taking.

    Experts say, company’s website must be designed well as many customers can visit it during lockdown. Adding an FAQ section to your website is the easiest way to give your customers the info they need. Consider creating a pipeline of business through digital outreach. It is necessary to connect with older customers.

    Work from Home Efficiently

    Working from home is not a new strategy anymore but how to work efficiently from home is the question before many employees. In almost all affected countries, the advice is to work from home if you possibly can. According to a research, 86% of people feel less stressed working remotely.

    To work efficiently, employees need to use the right kind of tools. Thus, startups must ask their employees to use video conferencing tools like Zoom, Google Meet, Skype, Slack, etc. Apart from this, one must ask employees to maintain strict hygiene while working remotely also. One must ask teams to have regular communication to inform about progress and updates.

    Manage the Expenses

    At this point, the only thing startups should focus on is staying afloat and come out of this situation diligently. This can only be done by managing the expenses in a proper way. Question every expense, get rid of everything that is not important, re-negotiate agreements with suppliers, take a hard look at team costs, chase every single receivable, and do not sell without advances. In times like this, the single focus is to keep the business afloat at all costs, which may need founders to be very careful.

    Find out what Help Government is offering

    Many governments across the world, are just putting measures to fight COVID-19 but they are also rendering financial help to startups and SMEs to restore falling economy. For instance, the UK has announced plans to offer various grants, loan schemes, reduced business rates, and statutory sick pay relief for SMEs.

    The US Government recently announced a $2 trillion relief package for its citizens and businesses, impacted by Covid-19 pandemic. New Zealand’s measures include wage subsidies for small businesses. So, it’s your responsibility as entrepreneur to keep yourself updated with any such help offered. It is advised to check your local city or state website to find out what steps officials are taking or what is available in your area.

    Related: 9 Founders Shared their tips on Surviving Coronavirus Outbreak

    Update your Google My Business page

    If you haven’t got one yet, it is advisable to claim your Google My Business listing now. It’s free and it will help customers find your business online. If you already have Google My Business page, log in to your account and you’ll see a new option on the homepage called “Coronavirus (COVID-19) ” option that has been added recently.

    By following the link, you will reach a page where one can make suggested changes to their business information. There one can update their business hours, adding extra services they are offering to customers or their local community or informing them about delays to normal service and so on.

    startup during lockdown startuptalky
    It is necessary to communicate with Suppliers and devise plans accordingly

    Move your Sales to Online Shop

    Now, selling your products one-to-one is impossible due to lockdown but selling online is still an option. Selling online has never been easier and now is the perfect time to start an online shop to earn extra revenue. Depending on your country, postal services and couriers might still be running, otherwise, lots of companies are starting to offer “doorstep deliveries.”

    It is totally safe as the business owner drops the parcel on the doorstep and the customer collects it from there, so there’s no contact involved. This is also a great way to help the people in your community get the goods they need. This may help the operations keep going due to continuous cashflow.

    Keep in touch with your Suppliers

    Because of restrictions on transport and meetings, there might be interruptions in the supplies you need to make your products or do your job, depending on your line of work. Knowing this ahead of time and keeping track of inventory can help you prepare and set realistic expectations for your customers.

    You can ask the suppliers or vendors how long it will take them to deliver the goods. If it’s going to take you longer to fulfil orders than usual, your customers will be more understanding if you let them know in advance.

    Looking at the current scenario, stabilization of inventory and logistics may not be achieved immediately. But businesses should then turn their attention to pre-booking rail and air freight capacity and using after-sales stock ensuring continuity in their supply chain network.

    Take Tough calls

    According to experts, the need of the hour is to make a impartial analysis of the current state or position of your startup and take tough calls based on that even if it means merging your startup with another venture. Sooner or later, startups will come face to face with the reality-survive at any cost.

    To take such calls, entrepreneurs would require support and help to think clearly. A few other options, that founders can explore, are holding on a favourite project or letting go of a resource that might be valuable but not affordable at this hour.

    Have Patience

    During this tough time, having patience until things restore back is really essential. For this, a team has a valuable role to play. A Team should be strength, motivating and bonding the team is important. A leader must share the situation so that the team can support and help. Sharing the problems can give hope and might find you a solution to deal with the situation.

    Also Read: How Different Sectors will Resume their Operations after Lockdown?

    Conclusion

    Each new learning becomes a rule, and each failed attempt becomes new learning. In the matter of just a week, India went from a do-not-panic state to a state of complete lockdown.  So during such testing times, there are several financial and legal aspects that all businesses should bear in mind to lower risks and cut down on their losses. By adopting the appropriate strategies, any business can survive this lockdown. And remember it is a matter of time!