Technology is the single greatest reason for man to believe in a better future. But technology is complex and messy and every time it makes progress, it seems to leave many behind. At this precise juncture, lies the role of design. It has the ability to make technology as palatable to human beings as is possible. The role of design is to humanize technology so that the complexity and the mess is hidden from the users. The users then just have to keep in mind what they want to achieve and not worry about the complex ways in which that objective will be achieved.

Image Source – UX Design

The objective of the field of design is to help a business achieve its goals. Therefore, if it doesn’t contribute to the bottom line, it cannot be considered successful. This is where Redd, a specialized design studio can come to the rescue of startups as well as large organizations. Redd specializes in developing version 1.0 products which is the holy grail when it comes to UX design. Redd develops wire-frames, perform user studies, produce visual, web and graphic designs, icons, content and illustrations and perform analysis on already implemented designs for brands. Ancillary services like branding and copy-writing are also included in the process. At the core, Redd excels at developing version 1.0 applications – a huge challenge in the UX field. Today we have a chat with Sharan Grandigae, Founder & CEO – Redd about essentials of design, aspects of design development, work being done by Redd, funding, etc. So, lets get started with the Q&A…

Can you please walk us through Redd and its core team composition ?

Redd was founded by me, Sharan Grandigae, and I am the CEO of the company. We have two Senior Partners, Abhilash K V who heads the design function and Priti Srinivasan, who heads marketing. Apart from this, there are two Lead Designers, Akshitha Praveen and Ashwita Palekar who head the different teams that are formed for executing the projects that we undertake. Interestingly, 73% of our employees are women and one of the leads is only 24!

Redd is a specialized UX Design Agency. How can Redd help early-stage as well as growth-stage start-ups by partnering in their product design and development ?

Early stage start-ups have the challenge of answering two vital questions: first, whether the product or service they are offering is useful, and second, how much are people willing to pay for the product or service. While these are straightforward questions, they are incredibly hard to answer, and many entrepreneurs have a tough time figuring out what it is they can offer or who is their customer. By taking a user-centric approach in designing their product or service offering, we can help answer these questions first before packaging them correctly for higher conversion or beginning to address ancillary revenue streams.

For example, a client came to us to help design a system aimed at the construction industry. While they came in asking us to design an application aimed at making it easier for the customer, the trouble was that there were so many services that the platform could put a potential customer in touch with, right from architects, plumbers and electricians to earth movers and scaffolders. This would undoubtedly overwhelm any user and they would simply drop off. Thus, we helped them create packages of services under the headings ‘For new home buyers’, ‘For re-modelling an existing home’, etc., which easily explained which package a customer can choose.

But more than that, the client wasn’t thinking of the business from the perspective of a digital platform and this didn’t allow them to see the ancillary revenue streams available on the platform through the ads, building pages to showcase work that vendors had done, etc. We were able to identify these because we had done it for several other clients before.

Clients that come to us in the growth stage have typically been through the first round of figuring out what the customer wants. They are looking at optimising their presentation and processes so as to increase conversion and scale their businesses. They may have one or several goals to achieve, such as increasing their user base, the total billing per customer, time spent on the site, and referrals or frequency of purchase; generating sales leads or any other such key performance indicators.

Once they define the goal of the design process, we examine their existing system, analyze their traffic data, customer profiles and conversion patterns and begin finding the right solutions to the problems we identify within the system. We help design simple and efficient systems that help the user achieve their goals while simultaneously achieving those of the company.

In how many different business verticals does Redd have expertise in? Can you now list down successful case studies in those verticals ?

At Redd, we have stayed away from specializing in just a few industry verticals as that’s a recipe for disaster for a creative agency. Instead, we take on projects from as wide a range of industry verticals as possible. Our team is currently working on the pregnancy experience of a mother-to-be while figuring out the best ways to sell steel even while finishing up a project related to core banking! We learn something new every day.

And this isn’t just us staying generalists because it is interesting for us, there are clear business reasons for doing so. Many companies can hire design teams in-house, but the problem is that these become entrenched in the systems that they are developing. This entrenchment can cause them to only be able to see the next stage of evolution of the product or the stage after that. But how does a client’s business achieve evolutionary jumps that can induce spikes in the company’s growth? That jump can only come from lateral thinking and that’s the one reason clients who have design teams in-house still come to us.

For example, we learnt something while standing in jewellery stores observing customer interactions when we were engaged by BlueStone to redesign their e-commerce site. That learning stayed with us and sparked a new idea that found application when we were later engaged by Lenskart for their mobile site redesign. Who would have thought that jewellery and glasses were related? And if you think about it from Lenskart’s perspective, many cycles of design-development-research-analysis were saved because of this!

Since you have worked with a range of clients, can you tell us what are some of the misconceptions that a few start-ups [or companies] have about UX Design and how Redd hand-holds such start-ups in their design journey ?

Misconception #1 First and foremost, people think UX design is about beautification. It isn’t. It is essential to the core functioning and profitability of a business. You would have noticed so far that I have not mentioned aesthetics even once. The reason is that we no longer live in a world that tolerates bad-looking products, so beautification and aesthetics are a base-level requirement. Design goes beyond and examines the efficiency of an entire business system and helps tune that to achieve the best that it can.

Misconception #2 Second, the right time to engage a UX agency is after the product is built and functioning. People seem to think that this is the cheaper approach but that’s a matter of perspective. If you are an early stage start-up, you want to know whether you have a product that people will spend their money on. What if your offering is good but the way it is presented is below average, or it’s not easy to use the product, or if the payments for the same were difficult to make? If these points resulted in poor conversion, would you write off your offering as bad? There are many reasons why a business fails but the reason you work with a UX designer is to provide the business the best chance it has to succeed.

Misconception #3 Third, it’s cheaper to hire a designer in-house rather than an agency. While different agencies charge differently, hiring the right design talent is hard and retaining them in the long run is harder when you take into consideration the fact that most designers revel in working on a variety of things rather than on one thing for a long time. It’s better to own the technical development team in-house and outsource the design function to specialized agencies.

Please share your engagement policy with companies and how does Redd act as a co-enabler rather than just being a design partner [for them] ?

We work in two ways: on fixed-bid projects and on retainers. For most first-time engagements with clients, we work on a project basis for a fixed scope of work. This keeps expectations clear for the client. We work on the retainer model when clients want to work with us like an internal design team, providing us tasks every week. We set aside a specific number of hours that the client can use, and they can assign us any task related to any of the services offered by Redd for a simple flat monthly fee.

Whichever way we engage with clients, we make sure that we do all the work necessary to create the right experience from market and user research, to creating the communications materials that are going to be required post the UX design stage.

Mr Sharan Grandigae, Founder and CEO, Redd

There are many design agencies catering to web, mobile design; what are some of the core USPs that Redd brings to the table for its clients ?

Most UX design agencies’ DNA is in graphic design but Redd’s background was in the development of custom software that run various business operations. Through this, we have developed a keen sense of not only development methodologies but also of how businesses function at a core level. Redd can move fluidly between discussions on front-end frameworks and version management systems to EBIDTA and the four P’s of marketing!

With User Experience and Seamless design across devices becoming increasingly important, what can you share about some of the best practices in design and how start-ups can leverage the same to design well-crafted products ?

A pattern we are seeing across the board is that a customercs experience is not only delivered on one medium, such as mobile websites, but occurs across the desktop website, mobile apps and also with walk-ins at stores. For example, one common pattern we’ve seen across clients is that their browsing is high on mobile web and apps, but purchases tend to be made on desktop websites or at stores. So we’ve adopted a ‘universal commerce’ approach which allows us to design experiences that begin on one medium and end on another.

This is the paradigm shift that we see happening and one that we would prompt other entrepreneurs to take into consideration when thinking about their user experiences.

Can you share some details about the funding status of Redd and are you open to institutional funding ?

We have been bootstrapped all along and have been building based on our own revenues. We are looking for funding only to launch some products being developed in-house.

Which according to you are some of the beautifully designed Indian as well as global products ?

Bangalore’s own Ather Energy’s electric scooter is a fantastic innovation in the field of product and service design. Not only have they succeeded in designing a very well-thought-out scooter, but they have also considered the ownership experience and designed the right sales packages. On the global front, unsurprisingly, I see what Tesla is doing as the new benchmark for how products and services need to be thought of, planned and executed.

There has been a significant rise in the number of product [read hardware] start-ups in India, are you looking to venture into product and UX development for such start-ups ?

Every field of design has the same underlying principles and thinking methodologies for producing the outcomes in their respective fields. We see the design of products as a natural extension of our current capabilities, so yes, this is something we intend to do.

You have been in the business for a couple of years. What has been your overall learning experience running a bootstrapped enterprise like Redd ?

I think we have learnt a lot already. But the funny thing is that while one would expect to have learnt something new and unique, the number of things that fall within that category are very few and rarely impact your business in a meaningful way. The single most impactful lesson I’ve learnt is that everything, even the most complex of ideas, can be understood by breaking it down to its principles.

So, along those lines, I would phrase the fundamentals of business with the following five principles:

  1. You have nothing if you don’t have a customer who is willing to pay you for what you have to offer.
  2. Put together a great team who can share in your passion.
  3. Pay attention to finances, especially cash-flows.
  4. Build processes that can scale when your business does.
  5. You need a think-tank that has people with whom you can discuss business ideas on an ongoing basis.

Though it is late to ask, what is the overall target market of Redd and do you service global companies as well ?

Our target market is technology or technology-enabled companies that are looking to build something innovative. We typically deal with start-ups wanting to scale and enterprises that want to be more agile. Some examples of global companies that we’ve worked with are Infosys, L&T Infotech, FIS Payment Solutions and TopUniversities.com.

There has been lot of buzz about chatbots, at least their usage is exponentially increasing in the fintech, healthcare, edtech sector. What are your thoughts on the same and how exactly should start-ups [as well as growth stage companies] make use of chatbots effectively ?

There are many stages of interactions between customers and a company. The early stage interactions are more general, repeated and substantially vast in number compared to later stage interactions. These early stage interactions are best handled by bots and there needs to be a smooth hand-off to a live person when the discussion gets more specific.

We have developed our own chatbot called Cruz and use it on our website. It manages many of our conversations with prospective clients, candidates searching for jobs and students looking for internships and has handled a lot of these smoothly. It has, in fact, become better over time.

Redd has a string of clients [ranging from start-ups to huge companies like L&T]. What are some of the learnings while dealing with such a wide range of clients and how agile [and open] are big companies to suggestions and change ?

Our job, in a way, is to understand the vision of the promoter and express that in terms of an app. With start-ups, we are typically working directly with the founders and this process is relatively easy. With large enterprises, a special team may be assigned to work with us, but the decision maker is rarely in the room. So, it is like us making proposals and then waiting for them to run the ideas up the decision chain and get back to us.

While these are indicative of the behaviors of majority players within each group, we have seen start-ups with many decision-making layers and we have worked with enterprises that make decisions and move faster than start-ups! So, it’s not like these stereotypes are always played out.

Does Redd also deal with clients in emerging economies since the entrepreneurial talent is blooming in places like Vietnam, Chile, etc. ?

We are open to it, but haven’t worked with clients outside of India, the UK, the US and the UAE yet.

Effective UX does help in user engagement and conversion rates [at least for e-commerce kind of sites]. Please share some learnings from Redd on how it helped clients in these two areas [or any areas in retention] ?

For us to design better experiences, we need to really understand the concerns and constraints users go through during the purchase of or engagement with a product or service. This helps us frame our client’s offerings in such a way that their customers consume them. This usually helps in engagement first and consequently in conversion.

For instance, when we were engaged by BlueStone.com who sold jewellery online, we stood in jewellery stores and observed how customers purchased jewellery. The first thing we observed was that when customers came into the store and asked to see, say bangles, the salespeople would bring not one, but several trays of jewellery at a time. This seemed like such a waste to us because so much effort was being spent in bringing out the trays and then restacking them after the customer had left, so we asked the salespeople about this. What they said changed the way we thought about selling jewellery forever.

They said that customers rarely walk into a jewellery store with the intention of buying one particular piece of jewellery because this purchase is driven not by utility, but by emotion. So, there’s no way to ascertain through questioning what the customer has in mind specifically because they rarely do and even when they do, it’s not like they won’t change their minds if they see something better. The only thing that the salespeople could do to increase conversion was to bring out trays and trays of jewellery, thus increasing the chances of the customer seeing something they like and purchasing them.

This was the core learning around which we designed BlueStone’s e-commerce store – to increase the number of items seen by clients in each session. The way we went about doing it was complex and intricate, but it’s based on such a simple learning!

There has been a surge in the number of conferences on Design [DesignConf], Technology, IoT, etc. How do such conferences result in the blooming of the eco-system and is Redd a part of any such consortium ?

These conferences show how big the field of design is becoming. These kinds of conferences are usually great forums to share and exchange ideas from each field of design. But interestingly, the number of sessions being conducted on ‘design thinking‘ has specifically increased over time and is being subscribed to by non-designers more and more. This is a great indicator to me that design is gaining acceptance outside of the design world and is here to stay.

For start-ups, the core team is very important. How did you as a founder deal with hiring for Redd and please share some effective tips from hiring in start-ups ?

Redd is composed not only of people who are trained in design as a part of their education, but also those that came to it from outside [like me]. We’ve been extremely lucky in having been able to hire great people right from the beginning. I have met and hired everyone myself and don’t anticipate that I will ever hand this function off to anyone else in future. But to make my process a little easier, I have an automated system that sends back a set of four questions to anyone applying to Redd. The answers to these questions tell me a lot about the people even before we meet them.

We are able to weed out a huge number of applicants right at this stage and the ones that make it past this point are typically only met with to assess skill and culture fit within our company.

Some ideas on UX and Design that can be used as an effective tool for growth marketing ?

Improving the UX of an offering makes it 16% more likely to be recommended to others [Forrester] – that’s probably the only fact that I can quote about the effectiveness of UX. We don’t have more data other than the fact that all our clients are continuing to grow in size after our engagement with them.

Books or resources you highly recommend for Design Aspirants as well as entrepreneurs?

Guns, Germs and Steel, Sapiens, The Consolations of Philosophy, and Good to Great. The first four seasons of the TV show The West Wing are a must-watch.

We thank Sharan Grandigae for sharing his insights with our readers and walking us through his journey. If you have any questions for him, please share them via a comment to this article or email them to himanshu.sheth@gmail.com

Investment plans combine life cover with investments. A certain portion of the premium paid is used towards insurance coverage. The balance is invested in different investment products. These include debt and equity and you may choose as per your risk profile.

Image Source – Investments

These types of plans are an excellent option to meet your short-term and long-term financial objectives. Investment plans are also a good way to reduce your tax liability and build wealth over a longer period.

Life insurance is important to offer financial protection to your loved ones in case of an unfortunate incident. When you combine such life cover with investment, you are able to not only avail of protection but also are able to create wealth to meet your financial objectives.

Investment plans are classified as traditional endowment policies and Unit-Linked Insurance Plans [ULIPs]. A regular endowment plan pays a lump sum or annuity at the end of the policy term. On the other hand, ULIPs provide market-related returns on your investment.

Are you confused about the different types of investment plans? You may come across several different plans with multiple options. Making the right decision amongst such clutter may be confusing and difficult. Here are three factors that may help you make the right choice.

1. Risk appetite

ULIPs invest in market instruments like cash, debt, and equity. If you are willing to assume higher risk to earn greater returns, equities may be a good choice. However, if you are ok to earn lower but guaranteed returns, debt is a better option. Therefore, you must evaluate and analyze your risk appetite before investing in an investment plan.

2. Financial situation

It is not prudent to invest money if you are going to face financial difficulties. You must analyze your financial situation and consider all your expenses and obligations to determine the amount you may invest in any plan. It is recommended that you start investing with smaller amounts as per your financial situation and gradually increase the amount as your income increases.

3. Investment objectives

Different kinds of plans are suitable for various objectives. It is important you clearly know your financial goals before making an investment decision. You must consider whether your goals are short-term or long-term to make an appropriate decision. Moreover, it must suit your requirements and risk appetite.

Importance of comparing different plans

You must compare all the different options that are available to choose the best investment plan in India. The primary objective of investing is to earn returns and an incorrect decision may result in severe outcomes. Therefore, taking the time to compare and understand the different plans is crucial.

An easy and quick way to compare different plans is to check online. This method allows you to compare several plans in a single page making it convenient. You may easily compare the features, pros and cons, and fees and prices to make an informed decision. Additionally, you may gain beneficial information through customer reviews, feedback, and comments.

The significance of investment policies

1. Financial security

When you invest through a Systematic Investment Plan [SIP], you are able to accumulate wealth over a period without facing financial difficulties. An SIP investment plan allows you to invest a fixed amount at pre-determined durations. This allows you to procure financial security thereby enabling you to meet your various life goals such as marriage, children’s education, and retirement.

2. Return on investments

Compared to fixed-income instruments, such as fixed deposits, investment plans like ULIPs deliver higher returns. The post-tax returns on ULIP plans are often higher because the funds are invested in market-related instruments.

3. Taxation benefits

The premium paid on your investment policy is eligible for tax deductions under section 80C of the Income Tax Act, 1961. Additionally, the maturity benefits are also tax-free under section 10(10) D of the Income Tax Act.

Before you invest in any plans, here are five things to bear in mind

  1. Objective

If you are like most people and invest only to earn returns, take a step back and reconsider your objective. Investment plans are beneficial in meeting short-term and long-term financial goals. You must consider all different objectives over a period before making an investment decision.

  1. The reputation of the fund house

When you invest your money with a fund house, you provide it with the permission to invest on your behalf. It is important you check the reputation of the fund house to ensure your money is well invested.

  1. Past performance

An important investment objective is to earn good returns. Therefore, it is crucial that you check the past performance of the different plans to make an appropriate decision. You must compare the performance with a benchmark like an index to understand the fund house.

  1. Fees and charges

Small fees and charges may not be noticeable. However, these may accumulate to a significant amount in the long-term. It is recommended you check these before making your decision.

  1. Fund manager

A fund manager manages your money. You must check his past performance and reputation to gain an understanding. Evaluating the fund manager’s performance during tough markets is very important.

Selecting the right investment plan is a critical choice. You assume a certain risk when you invest your money. Therefore, understanding the features of the different plans and assessing your risk appetite is recommended before making an investment decision.

Who isn’t into riding bikes these days? Riding a motorcycle is the new cool. It’s not only the millennial that are attracted towards bike rides but even the people who have crossed their 30’s love to hit the road in style. Choosing the right bike for you is a tough affair. No doubt, there are so many of them available in the market, but picking the ideal one for you needs some research. Also, keep in mind to buy a good two wheeler insurance policy for your new bike.

Image Source – Two Wheelers

Here’s a list of different types of two wheelers you can choose from

Standard

Also known as ‘naked motorcycles’, standard bikes boasts an upright riding position with low to mid-range bars and mid foot controls. These bikes are usually equipped with a longer, flatter two-up seat and feature a single headlight with no fairing. The upright position helps the riders to maintain a comfortable position while riding.

Also, they have moderate-size engines and user-friendly design, which make them an ideal option for new riders. You can ride them to work, load them up with gear for a long trip, and even take them to a track for quick high-speed fun.

Cruiser

If cruising city streets on a sturdy, low-slung machine is your dream, then cruiser is the perfect pick for you. Taking inspiration from the design of Harley-Davidsons, these bikes flaunt a low seat height, torque-rich, V-twin engine, fat rear tire, high handlebars, and forward foot pegs. Cruisers are incredibly comfortable to ride but are not ideal for beginners who are going to ride at higher speeds for an extended period of time.

Dual-sport

Dual-sport bikes are available in a wide range of size, style, and colour. They are referred to as dual-purpose bikes as they can be used as both on- and off-road motorcycles. These bikes combine long-travel suspension with a powerful motor, which makes them suitable for both off-road and long distance riding.

Also, they feature high seats and a high centre of gravity that contributes to better handling on rough ground. Dual-sport bikes are similar to dirt bikes with mirrors and lights. Thanks to their small engines and lightweight frames, they make an excellent choice for a new rider. Just make sure you can straddle the bike with both feet planted on the ground.

Touring

Scratch away your travel itch with none other than touring bikes. They are also known as dressers and are specifically designed for long-distance riding. With bigger engines, large fuel tanks, and lots of carrying capacity, these bikes will take care of all your travelling needs while on the go.

These bikes offer riders with a comfortable, upright seating position, which makes them perfect for globe-trotters. Equipped with high-end technologies, touring bikes are expensive and require a lot of maintenance.

Sports bike

Packed with the latest and greatest technology, sports bikes are optimized for high speeds and acceleration. These bikes are equipped with sophisticated suspension systems and high-performance brakes.

Featuring high foot pegs and long reach to the handlebars, these bikes are perfect when riding into the wind at higher speeds. However, at lower speeds, these bikes can be tiring because they put more weight on a rider’s hands and wrists.

Sport touring

What do you get when you mix the comfort and carrying capacity of a touring bike with the handling and looks of a sports bike- a sport touring bike. These bikes have aerodynamic fairings, detachable hard luggage, and a lot of horsepower.

Sport touring bikes are bulkier than sports bikes and lighter than touring bikes. They offer a more relaxed seating position and are often big, heavy and sturdy.

Now that you have learned about different types of bikes, it’s the time to purchase one for yourself. But, don’t forget to insure it with comprehensive two wheeler insurance as it is mandatory to protect your bike before hitting the streets. Also, to avoid unforeseen circumstances, buy two wheeler insurance now.

Completing the largely existent care gap between hospitals and home, SuVitas Holistic Healthcare launched Bengaluru’s first dedicated transition care facility in Domlur. In spite of having one of the fastest growing healthcare ecosystems of the country with improved tertiary care hospitals, Bengaluru has been consistently falling short in providing quality follow up care for the effective management of critical ailments. Filling this need gap, the pioneers of transitional care in India, SuVitas brings to the startup city a 60 bed post hospitalization rehabilitation center with specialized programmes for stroke, head injuries, spinal cord injuries, hip-knee replacements and post cardiac procedures.

Image Source – Suvitas

Post undergoing prolonged critical care, a patient needn’t be fully recovered to go home and will require skilled nursing care and regular physiotherapy, besides proper nutrition and emotional support. When patients go though transition care before going home, there is improved independence and functional outcomes thereby enabling accelerated and empowered recovery along with enhanced quality of life.

Since its launch in Hyderabad in 2015, SuVitas has fueled a revolution in the country’s healthcare scene by introducing world-class transition care, bringing together protocol-oriented personalized care plan in a home-like relaxing environment through a multidisciplinary rehabilitation team of doctors comprising of physicians, skilled nurses, physiotherapists, occupational therapists, speech therapists, clinical psychologists and dietitians.

Medical circles of the city revealed Bangalore has only 2500 ICUs in the private sector. This is way less than the required number to support the rising incidences of strokes, road accidents, spine injuries and total knee replacements reported annually in the city.  Dr Vijay, Director, New Initiatives, SuVitas remarked

Considering the shortage of ICU beds in the city, insufficient trained rehab professionals and financial challenges to setup more critical care facilities, there is tremendous need for effective utilization of critical care services and ICU setups through transition care.

Transition care serves a patient’s needs at 1/3rd cost of a hospital and 1/10th cost of critical care management and is therefore considered to be an affordable value addition to improve one’s QALY [Quality Adjusted Life Years].

Shedding light on SuVitas’ aggressive expansion plans, Sateesh Andra, Founder and Board Director, SuVitas said

Post-acute care is gaining greater relevance in today’s value-based care world. The growing base of non-local patients, increasing demand for long-term quality care for neuro cases, nuclear family culture and the flourishing medical tourism industry can significantly scale up the growth of segment.  With transition care expected to grow to a 10,000 bed requirement in the near future, we expect SuVitas to emerge as an indisputable leader in the category.

Dr Harish Kalathil, Director, Operations, SuVitas confirmed the brand is ramping up its expansion plans and is looking at raising an expansion capital of Rs 15 Cr for launching two more centers in Mumbai and Chennai within 18 month’s time. He added

We are glad the medical circles have recognized the integral role played by SuVitas in completing the care continuum over the past few years. In our second stage of expansion, we are looking at raising an additional VC funding to expand our presence to eight cities including Gurgaon, Chandigarh, Kochi and Coimbatore among others.  With an impressive year on year growth rate, SuVitas reported a revenue growth of 140% during the FY2016 to FY 2017 and 50% from FY2017 to FY2018. 

Highlighting the niche SuVitas has been able to create overcoming existing challenges in the industry, Dr Ramesh Byrapeni, an interventional cardiologist and Founder, Board of Director SuVitas said

While transition care is considered equally important to mainstream medicine in developed economies, India is gradually waking up to its necessity. The rise in hospital-acquired infections and re-admissions in hospitals along with inefficient utilization of the critical care facilities have triggered the need to improve patient outcomes by offering to continue care through inpatient rehabilitation.

With over 900 plus recovery stories of patients from different states of the country, Middle East, US & Singapore, the category defining venture, SuVitas has evolved to be the preferred rehab partner by reputed specialists including neurologists, neurosurgeons, intensivists, orthopedicians and cardiologists across the nation.

About SuVitas

SuVitas is the leading provider of inpatient transition care facilities that enables individuals to ‘Live Again’. SuVitas serves patients who have undergone treatment for serious ailments across neurology, cardiology, orthopedics and early stage oncology, and are not completely recovered to go home. Combining protocol-based care plans with personalized attention in a home-like environment, SuVitas helps individuals achieve enhanced flexibility, strength and independence. SuVitas is a privately held, angel-funded company with its headquarters in Hyderabad.

An HSBC study shows that 51% of parents in India yearn for their child to build a successful career after they graduate. But socio-economic mobility being comparatively restricted here, education takes on a greater significance. And if the education given to your child is of the best quality, their chance of having a better future is likelier.

Image Source – SIP

Parents have the same aspiration when it comes to their child’s wedding. They want the wedding to be held with much pomp and fanfare. But all this requires money – in fact, a pot of money.

Both your child’s education and wedding are expensive affairs. If you look at the inflationary trends of the last two decades, you should expect the costs to spiral further. However, this is not to dither you or make you jumpy about the future. There is still ample time for you to rack up an enviable kitty to ensure good things happen to your child. One of the ways in which you can fortify your child’s future is by investing in a Systematic Investment Plan [SIP].

In this article, let’s see how you can make your child’s [and your] dreams come true through the process of investing.

Sky-rocketing prices

Did you know that the cost of nursery education can range anywhere between Rs. 60,000 to Rs. 3 Lakh? And the price escalation does not stop here. Parents in India spend an average of Rs. 12.25 Lakh on their child’s education. But if your child wants to go abroad for a higher degree, this could cost you around Rs. 1 crore.

As for weddings, here is a statistic that will paint the entire picture. The Indian wedding industry accounts for more than Rs. 1 Lakh crore, according to a report by Reliance Money. And this number is fast increasing at the rate of 25~30% per year.

Invest and relax

There is no point looking at these numbers and working up a brainstorm. If you have time on your side, all you need to do is to set yourself a long-term financial plan. Once you do that, you decide to invest. That’s because keeping your money in a bank account does very little for you or your children. The money just sits there all day long, earning very little interest. In fact, the 3.5~4% interest you earn is lesser than the rate of inflation. That means you would actually lose money in the long run if it remains idle in your bank account.

Instead, it is better to invest in mutual funds. Equity funds offer returns anywhere between 10~15% per annum. In fact, the returns on some funds can be even higher. By investing for the long term through Systematic Investment Plans [SIP], you can amass a substantial corpus of money. You can use any online SIP calculator to identify how much you need to invest each month in order to reach your specific financial goals.

Child funds

Many mutual fund houses offer special child plans that are designed to help parents meet the various requirements at different stages of their child’s life. Once you identify a particular plan, you should invest regularly without fail. Over time, the small investments you make turn into a big corpus. That’s why experts suggest that parents should start investing for their child’s future from a very early age. This allows you to create a large corpus without putting a strain on your monthly budget.

Consider the following example- By investing just Rs. 10,000 per month in a mutual fund, you can create a sum of Rs. 1 crore in 20 years, assuming the rate of return is 12% per annum.

However, if you have just 10 years time to create the same amount, you would have to invest more than Rs. 40,000 per month! This can put a tremendous pressure on your finances.

Conclusion

A common tip for road trips is – start early, drive slowly and reach safely. The same can be said for investments. Think of it this way – the moment your child is born, you have exactly 18 years to come up with a graduation gift for your child. So, start investing today!

Pune-based healthcare startup SynThera Biomedical Private Limited, which focuses on R&D, manufacture and commercialization of affordable biomaterials-based medical devices, has secured an undisclosed amount of seed funding investment from two investors: Equity crowd-funding platform 1Crowd and the government’s Biotechnology Industry Research Assistance Council [BIRAC] SEED scheme via Venture Center.

Image Source – SynThera

Nilay Lakhkar, Founder and CEO of SynThera Biomedical, said

The investment will help us achieve expansion, approvals and launch of our first line of bone graft substitute products in the market, together with further development and testing on our patented bone graft product line.

The company’s flagship products –  SynOst and PoroSyn are synthetic bone graft substitute products made from bio-active glass materials. Both products are used in dental and orthopedic surgeries as implantable materials for repair and regeneration of bone that is lost or damaged due to disease, injuries or congenital deformities.

Anil Gudibande, co-founder of 1Crowd, said

SynThera is an innovative bio-material sciences company, with patented technology, which we believe can address a global opportunity through an array of technology lead products. 1Crowd seeks to invest in ventures that are at the cusp of knowledge and technology, and SynThera is a fine example of that. With investments in over 17 startups, 1Crowd has built an ecosystem, that startups such as SynThera can leverage, which includes an investor community, a mentorship panel and industry connects.

Dr. Premnath, Director, Venture Center, the incubator that supports SynThera Biomedical, said

BIRAC’s SEED – Sustainable Entrepreneurship and Enterprise Development – scheme was set up to support life sciences start-ups, with a funding of up to Rs. 30 Lakh. The investments raised by Venture Center’s incubatee company SynThera will enable it to move faster towards regulatory approvals, production and sales. SynThera has unique technology capabilities and intellectual property, and will be the first bio-active glass company from India. It will be uniquely positioned to provide valuable bio-material solutions to dental and orthopedic surgeons.

About Venture Center

Venture Center is India’s leading inventive enterprises incubator. It won the National Award for Technology Business Incubators from the President of India in May 2016. The Venture Center is hosted by CSIR-National Chemical Laboratory, Pune. For more information, please visit The Venture Center.

About 1crowd

1Crowd is an early stage investor and startup ecosystem with a unique co-investment lead equity crowdfunding platform and seed & early stage Fund. Launched in 2015 by a team of experienced bankers, with two offices in Mumbai and Bengaluru, the platform has invested in over 17 ventures, with over Rs. 40 crores in AUM. Recently, 1Crowd announced the first close of its seed & early stage Fund. For more information, please visit 1Crowd.

According to data from Indeed, the world’s No. 1 job site, there has been an increase of 186% in the number of job seekers looking for work opportunities in the robotics sector in India between May 2015 and May 2018. During the same period, job postings in the sector grew by 191%.

Growth of robotics in India

The rising interest among job seekers for jobs in robotics as seen in the past year by far outstrips the growth witnessed by the sector in the previous years, while the number of job postings in the sector, on the other hand, has slowed after the initial boom, during which growth was far more rapid.

It appears that while job seekers are increasingly looking at working in the robotics sector, companies within the sector are slowing down in terms of hiring. Following the initial spurt in growth in 2015, driven by the government’s investment of $13 billion USD in robotics under its Make in India initiative, hiring for robotics profiles has slowed considerably.

Top regions for robotics jobs in India

The data further indicates that Maharashtra is the leading state in India for those seeking job opportunities in the robotics sector. Home to large technology centers like Pune and Mumbai, it comes as no surprise that the region leads the trend. It is followed by Karnataka, which houses India’s Silicon Valley Bengaluru, and Telangana, of which upcoming technology hub Hyderabad is a part, making up the top three regions in India for job opportunities in the robotics sector. According to a previous study by Indeed, the leading cities in India for jobs in the technology space are also predominantly from the states that lead in terms of robotics job openings.

Sectors leading the robotics boom

Surgery is one area where robots are making a breakthrough, with the sector expected to grow at a rate much higher than the global average. India’s surgical robotics market is estimated to grow at a rate (CAGR) of 20% between 2017 and 2025, as compared to the global rate of 12%[1]. Another sector that is seeing increasing reliance on robots is the construction industry, given the thrust of government initiatives such as Make in India and Digital India. With a market of for close to one thousand robots annually, the sector offers huge potential for experimentation.

Commenting on the subject, Sashi Kumar, Managing Director, Indeed, said

Robotics is one of the most exciting sectors emerging in India today.  Sectors like construction, manufacturing and healthcare are boosting the demand for robotics talent, and there is enormous scope for the application of the technology across an even wider array of industries. As access to internet connectivity and open source platforms improves, a favorable environment for the sector’s growth and development is being created. Even as people fear that automation will take away jobs, robotics is creating new job opportunities for skilled resources.

About Indeed

More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world and allows job seekers to search millions of jobs on the web or mobile in over 60 countries and 28 languages. More than 200 million people each month search for jobs, post resumes, and research companies on Indeed, and Indeed is the #1 source of external hires for thousands of companies.

After months of small scale rollouts, WebEngage has been roped in by OTA major Goibibo to power the brand’s User & Partner engagement strategy and execution. The Mumbai based SaaS company is touted as one of the leading Marketing Automation platforms to come out of India, having over 40k businesses around the world under their belt. Esteemed brands such as Flipkart, Ebay, Avaya, Sendgrid, Pluralsight, Souq trust WebEngage with their user engagement.

Image Source – WebEngage

As India’s leading online travel brand, millions of Goibibo customers frequent their platform to book flights, train tickets, hotels and outstation cab rides every month. They identified the need for an engagement platform to enhance the overall user experience and increase the number of bookings using Personalization and Contextual cross-channel Communication.

Goibibo CTO, Vikalp Sahni, furthered this view saying

We at Goibibo are strong believers in the power of creating an unparalleled user experience. Giving users a brand experience that helps them solve a problem and creates value for them is the end goal. For that reason, we identified WebEngage as the right platform that will help us get to the goal. Their Journey Designer tool has been a revelation, helping us create lifecycle marketing campaigns at scale while maintaining contextual relevance with hyper-personalization capabilities.

Avlesh Singh, CEO of WebEngage, said

Partnering with one of the leaders of the OTA industry is a huge positive validation of our platform, and its capabilities. We are happy to learn that Indian marketers have advanced in the maturity scale, and are embracing innovative tools like the Journey Designer to create beautiful and highly effective marketing strategies that resonate directly with the end user. This partnership recognizes the need for Marketing Automation in the industry, and how our positioning is perfectly poised to cater to that need diligently.

About WebEngage

WebEngage was founded by Avlesh Singh and Ankit Utreja in 2011. It is a full-stack marketing automation platform that helps B2C companies drive more revenue from their existing customers and anonymous users.

It is a cross-channel user engagement platform which intelligently automates communication across users’ life-cycle. It enables companies to enhance their brand experience with contextual, personalised user engagement via In-App Messages, Push Notifications, Emails and Text Messages and Web Messages [notification, survey and feedback].