SmartUp 2017 offers a nurturing platform with competitive spark to facilitate budding entrepreneurs by validating their ideas, mentor them under globally acclaimed experts and offering access to a wide network of investors.
Marketyard is a Mobile Platform that enables Users to buy, sell and rent everything related to agriculture using Classifieds services, Hourly Weather Forecast, Digital Land Records, Local Business Listings, etc. They help farmers to directly sell to end consumer by removing the need for middlemen.
Machstatz from Bengaluru an end to end solution in the IIoT [Industrial Internet of Things] space became the first runner-up and ClinMD from Jaipur which offers help doctors to record store and digitize regular handwritten notes & prescriptions was chosen second runner-up. The winning teams were awarded a cash prize of Rs 1 Lakh, Rs 50000 & Rs 25,000 respectively.
Vibhuti Channa, Director, Espark-Viridian Accelerator, said
India has a 1.25 billion of youth population and entrepreneurship is the need of an hour. Our endeavor has been to identify budding entrepreneurs and provide them with all necessary support. It is important to nurture and guide an idea in its early stage to ensure it reaches its maximum potential.
Espark-Viridian in association with Headstart Network is committed to promoting entrepreneurship in India. The top 25 startups were shortlisted by the jury members. The event culminated in Delhi at KiroriMal College Delhi over two days dedicated to intensive one to one mentoring by expert mentors and investors followed by a pitching session.
The esteemed jury — which included Arpit Agrawal [Principal, Blume Ventures, Co-founder and Director, Headstart Network Foundation], Ashish Taneja [Managing Director, Growx Ventures], Paresh Gupta [Founder, Global Centre for Entrepreneurship and Commerce], Amit Singh [Founder & CEO, Wow Labz Co-Founder and MD, Headstart Network Foundation] and Vibhuti Channa [Director Espark- Viridian Accelerator] – selected the prize winners.
Anil Lade,Founder – Marketyard Agrisolutions, said
Such Competitions provide a good platform for young entrepreneurs to showcase their talent and gain from one on one mentoring. I am thankful to the Espark-Viridian and Headstart Network who have provided clarity in further enhancing my idea.
About Espark-Viridian
Espark-Viridian is a startup accelerator for early and growth seeking startups. We offer an up-to 18-month multi-center, multi-sector accelerator programme through 5 centres spread across Bangalore, Chandigarh, Gandhinagar, Mumbai and Delhi-NCR. To know more, please visit Espark-Viridian
Industree Foundation launched its new initiative ‘Mission Creative Million‘ at a round table, during the World Economic Forum’s India Economic Summit. Shri Chandrababu Naidu, Honourable Chief Minister, Andhra Pradesh, launched the initiative at an event that was held Hotel Taj Palace, New Delhi.
Established in 2000, Industree Foundation addresses the root cause of rural poverty in India by establishing ownership-based manufacturing enterprises for majority women micro-entrepreneurs in the farm and off-farm sector. Industree assesses the traditional skill base of communities, organises them into production units, develops products that appeal to modern markets, and creates consistent demand, opening up the 40 billion dollar global market for these entrepreneurs.
Industree Foundation has already trained 30,000 women artisans in India and Africa through collaborative efforts with organisations like Future Group, IKEA, the Commonwealth Secretariat, Grassroots Business Fund, and National Skill Development Corporation. Industree has also directly impacted over 2,000 producers and tripled their incomes, having built two of India’s largest off-farm producer companies.
‘Mission Creative Million’, Industree’s latest initiative designed to empower entrepreneurs and create jobs, aims to impact one million creative producers in the next 5 years, dramatically scaling up outcomes.
According to Neelam Chhiber, Founder and Managing Trustee
With the right training and tools, producers can become owners of their own businesses and leaders in their communities. That is why we have developed a model that empowers producers with skills training, market linkages and the professional management support they need not only to build sustainable futures for themselves but also create hundreds of new jobs.
Creative Million projects are already in various phases of execution in Karnataka, Tamil Nadu, and Odisha, and are in the planning phase in Andhra Pradesh, Telangana, Rajasthan and Uttar Pradesh. This is in partnership with the Ministry of Textiles, Karnataka and Andhra Pradesh state governments, along with companies such as Sonata Software, Mindtree, Mercuri Urval and impact organisations like MasterCard Center for Inclusive Growth, British Asian Trust, Social Venture Partners, Womanity, Dasra and UNDP.
The first few pilots have impacted more than 75,000 producers. Industree also partners with organisations like Fair Trade Forum India, All India Artisans and Craftworkers Association, to ensure the reach extends to a million people.
Speaking about the initiative, Shamina Singh, President of Mastercard Center for Inclusive Growth, a key partner, said
Unlocking the potential of artisan producers to earn, save and invest is critical to ensuring that India’s economic growth is inclusive and sustainable. We are proud to partner with Industree, government ministries and other private sector leaders to realize the promise of the creative million business model.
Espark Viridian Accelerator[earlier covered here and here], a startup accelerator for early and growth seeking startups in-association with Headstart Network Foundation, brings a unique opportunity for all the aspiring entrepreneurs- SmartUp 2017. SmartUp is a Pan India Business Plan Competition that could help win a cash prize worth Rs 1.75 lakh, entry to Espark-Viridian’s accelerator program, live one-to-one mentoring, potential to raise seed investment, network with all the who’s who of the business world.
Espark-Viridian in association with Headstart Network are committed to promote entrepreneurship in India. Early stage startups having original idea and clear business model with significant market research are eligible to apply. Top 25 startups will be shortlisted by selected jury members. The event would culminate with two full days dedicated to one to one mentoring from national level mentors followed by a pitching session to top rated investors wherein one could get a chance to raise a seed investment. The deadline application submission is 25th September 2017.
Vibhuti Channa, Director, Espark Viridian Accelerator, said
We, at Espark-Viridan Accelerator believe that India has tremendous potential and startups are the future of business ecosystem. This is a one-of a–kind business plan competition for budding entrepreneurs to turn their dreams into reality. Besides a potential to raising seed investment, the startups will get the opportunity for one-to one mentorship.
Amit Singh, Co-founder & MD, Headstart Network, said
SmartUp 2017 is Espark-Viridian and Headstart’s endeavor to identify and nurture India’s young entrepreneurs who have the aspiration and ability to solve big problems through their ventures. With Espark-Viridian’s enablement led program and Headstart’s country wide network -we seek to make mentoring and funding accessible to the early stage startups.
Individuals with an idea and passion for entrepreneurship need to register at SmartUp 2017 for participation.
About Espark-Viridian
Espark-Viridian is a startup accelerator for early and growth seeking startups. We offer an up-to 18-month multi-center, multi-sector accelerator programme through 5 centres spread across Bangalore, Chandigarh, Gandhinagar, Mumbai and Delhi-NCR. To know more, please visit Espark-Viridian
The Indian School of Business [ISB] and SAP Labs India have entered into a collaboration to nurture technology-based start-ups in the social space, focusing on ventures which are working in areas that have relevance to national priorities.
Image Source – Jumpstart Social Enterprise Accelerator
Titled Jumpstart Social Enterprise Accelerator, the programme aims to identify and support 10 early stage and 5 growth stage promising ventures by providing guidance, mentorship and scaling up their technology solutions thatcan bring about a large scale impact in the lives of common people. Start-ups targeting sectors such as education, healthcare, water & sanitation, energy, agriculture, financial technology, infrastructure, livelihoods and others are eligible to apply for the programme.
ISB is committed to its goal of taking on a larger role of incubating and supporting entrepreneurial ideas as well as scaling up ventures that will potentially generate employment, foster economic and social progress and create significant social value for the country.
The ISB SAP Jumpstart accelerator programme is one such initiative to support promising entrepreneurs in thinking big and help scale their businesses to create impact in areas of national priority and help build a better tomorrow.
Dilipkumar Khandelwal, Managing Director of SAP Labs India & Executive Vice President, Enterprise Cloud Services, SAP SE said
We are pleased that the SAP ISB Social Enterprise Jumpstart program is growing to accommodate more social enterprises. Through this initiative, we are supporting in creating investible and growth oriented social enterprises which can contribute to the economic development of our country.
The first cohort of this accelerator programme was launched in July 2016 where ISB and SAP received 400+ applications from diverse sectors. Five early stage start-ups in the areas of financial technology, sustainable development & livelihood, agriculture and skill development were shortlisted and mentored. As a result, all the 5 ventures from the first cohort have scaled up their business operations, received funding or have been taken over.
How to apply for the Jumpstart Social Enterprise Accelerator
Start-ups will be short-listed through a nation-wide selection process based on their innovation, social impact and scalability. Shortlisted finalists would be invited for a business plan pitch and interview by a panel consisting of business experts, investors, faculty & members of the Centre for Innovation and Entrepreneurship at ISB, & SAP. To know more about the application process and criteria, click here
Conquest [earlier coverage here], India’s biggest student-run startup challenge has been centred over the years to provide a perfect platform for startups to prosper. With DCB Bank as the title sponsor, Conquest has become a paradise for startups, providing them with a chance to voice their ideas, network with industry leaders, and obtain incubation and funding opportunities.
Raising the standards set by previous editions, Conquest 2017, in association with Zoho, Accel, WNS and PayU, witnessed a participation of more than 1000 startups from across the nation. Startups from various sectors ranging from education, manufacturing, engineering to even virtual reality competed for a spot in the top 50. These applications were scrutinised based on 36 extensive parameters to shortlist the top 50 startups for personalised mentoring sessions.
Conquest provided these startups with an insightful experience and a networking opportunity by organising mentorship sessions in the 3 major cities of the country – Delhi, Mumbai and Bengaluru.
File Photo : Conquest
Mentors from various sectors provided their insights on various aspects of entrepreneurship: Fundraising, Product Management, Customer Acquisition, Tech, and Operations. Meera Iyer, CMO – Big Basket, Ashish Goel, Head of Product – Zomato and Suvonil Chatterjee, former CDO, Housing and Flipkart are some of the many esteemed mentors that provided guidance to participants on a one on one basis. The jury then selected the top 10 startups for the Grand Finale.
Here is a look at the top 10 startups that made the cut.
Incredible Devices Pvt. Ltd – Incredible Devices provides affordable treatment techniques for CVD, a disease with a fatality rate of 80%.
Recopro – Recopro’s recyclable paper pallets are cheaper, stronger and greener than the traditional wood counterparts.
Drone Nation – Drone Nation is an aerial data solutions company providing end to end solutions using custom-built drone hardware and software technologies.
Dcoder – Dcoder lets you code anywhere, anytime through its mobile coding platform.
JuiceWorx – JuiceWorx is working on an IoT led beverage dispensing technology that gives enhanced experience and greater health benefits to users.
Adloid – Adloid is a trail AR platform where you can try a product before buying- just by using your phone.
Trell – Trell has built a 170K strong community for millennials to discover and share local explorations.
Be-Hold – Be-Hold is a glove designed to function as a phone for the visually impaired.
Clodura – Clodura uses technology to help you find high value leads which are more likely to close!
Aquivio – Aquvio has revolutionised Reverse Osmosis based water purifiers by minimising the
waste-water generated.
The top 10 will take the stage in the Grand Finale, to be held on 3rd September at Hyatt Regency, New Delhi. The finalists will pitch their ideas in front of of the panel of investors and VCs, as they try to captivate the imagination of potential investors.
The Finale is going to a ensemble of the some the the biggest names in the startup industry, along with some future greats to watch out for. The Grand Finale of Conquest has the reputation of being a star studded networking event, with attendance from numerous industry stalwarts.
Previous editions have witnessed attendance from the likes of R. Chandrashekhar, President – NASSCOM, Padmaja Ruparel, President – Indian Angel Network, Sanjay Nath, Managing Partner – Blume Ventures and Nilesh Kothari, Managing Partner – Trifecta Capital Registrations for attending the Grand Finale are now open. Register on Conquest for a chance to network with the best names in the industry.
Techstars announced the launch of Techstars India as a joint venture company in partnership with ANSR. Headquartered in Bengaluru, ANSR builds and operates GICs and captive centres for some of the leading global companies from the retail, fintech, healthcare and media domains.
The ANSR partnership will provide Techstars with a very strong foundation to launch its Indian operations. Having partnered with 27 leading global enterprises, ANSR is the world’s largest company for establishing and operating captive center service delivery capabilities for global enterprises in support of their growth, transformation and innovation agenda. ANSR, through its innovation arm, Kyron, also operates startup led innovation programs for its corporate partners including Target, L-Brands, Lowes and Swiss Re.
With this launch, Techstars is adding India to its international roster, bolstering India’s position as a leading global startup ecosystem. India, known for its dominant role in the IT industry and home to captive centers for over 1,000 global enterprises, is rapidly gaining traction as an entrepreneurial hub. Techstars operates worldwide and across the US, including Adelaide, Austin, Berlin, Boston, Boulder, Cape Town, Chicago, Detroit, Minneapolis, New York City, London, Los Angeles, Paris, Seattle, Tel Aviv, and Toronto, and has accepted over 1000 companies globally into its programs. Collectively, these companies have raised over USD 3.8B USD and have a market cap of over USD 9.9B. The launch of Techstars India will provide Techstars access to India’s rapidly growing startup and entrepreneur network as well as global enterprises that have established captive centers and startup led corporate innovation programs with ANSR and its innovation arm, Kyron Global.
[L-R] David Cohen Co-CEO – Techstars, Lalit Ahuja, CEO – ANSR, David Brown, Co-CEO – Techstars
We have been watching India’s growth very closely and its emergence as the third largest global startup ecosystem in less than a decade. There’s so much great activity here and the potential for growth is huge, as one of the fastest growing economies in the world. I think in addition to that, India’s prime minister underlining the importance of entrepreneurship and innovation in giving productive outlets to the country’s talent is very positive. It’s heartening to see tech evangelists work closely with the government to lay out a digital infrastructure for the country which startups then can leverage. India is on a tech, digital and startup mission of sorts.
This has been a big year for Techstars. We’re 10 years old and have now seen over 1,000 companies in Techstars’ mentorship-driven accelerator programs worldwide. We are excited to announce the addition of Techstars India to the Techstars Worldwide Network.
ANSR is very excited to partner with Techstars to launch Techstars India. We believe that this is an event of national importance and a huge validation of India’s position as a leading global hub for entrepreneurial activity. The launch of Techstars India will provide an impetus to the rapidly growing startup ecosystem and the emergence of India as a dominant entrepreneurial network. This launch brings to fruition ANSR and Kyron’s pioneering efforts to successfully create a startup corporate engagement corridor towards the emergence of India’s largest startup led corporate innovation platform.
Speaking at the event, Priyank Kharge, Minister of IT, BT & Tourism said
The Government of Karnataka is focused on building a bolder and structured ecosystem and the collaboration with Techstars is exactly what the Government requires and is the right step forward. Karnataka is India’s second largest technology hub and this is validated by the fact that we have all the Fortune 500 companies. Propelled by government policies in the last 3 months, more than 3200 startups have registered with the government. We are also coming up with numerous Centres of Excellence and by the end of August we will have India’s first Centre of Excellence for Artificial Intelligence. Karnataka today has reached its maturity as a services industry and now moving forward to R&D and innovation.
About Techstars
Techstars helps entrepreneurs succeed. Through the Techstars Worldwide Entrepreneur Network, founders and their teams connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners who will help their companies grow. Techstars operates four divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, Techstars Corporate Innovation Partnerships, and the Techstars Venture Capital Fund. Techstars Mentorship-Driven Accelerator Program supercharges success and Techstars Startup Programs inspire, educate and connect entrepreneurs. For more information, please visit Techstars
About ANSR
Backed by Accel Partners and Infosys and headquartered in Dallas, TX, ANSR is a global leader in establishing, operating and optimizing Global In-House Centers ‘GICs’ and provides end-to-end solutions to enterprises across the GIC life-cycle. Through Kyron, its innovation arm, ANSR also operates Innovation/Corporate Accelerator Programs. For more information, please visit ANSR
Conquest, BITS Pilani’s International Startup Challenge, hosted its first networking session in the city at the Accel Office in Koramangala. Conquest, backed by DCB Bank, serves as a brilliant launchpad for emerging startups across the country.
As part of the mentoring sessions, the participants were provided with expert guidance from industry leaders. Some noteworthy mentors include Brijesh Bhardwaj, Product Manager at Hike, Suvonil Chatterjee, ex-CDO Housing and Flipkart and current advisor at Unacademy, Abhishek Nayak, CEO, Bicycle AI and Rishabh Kaul, CEO, Belong.
Expressing her views on the Networking Sessions, Meera Iyer, CMO at BigBasket and one of the mentors, said
For an economy to be sustainable, it needs to nurture the culture of new setups and new constructs surfacing constantly, and I feel that these mentoring sessions wherein such ideas and the youths behind them are groomed, is a really strong medium to connect to. This sharing of ideas also has mutual benefits, helping me in ideate on similar lines and implement them in my daily life.
Conquest, through its tie-ups with incubators and investment firms across the country, offers funding and incubation opportunities for participating startups. The top startups at Conquest receive, in addition to USD 1M worth resources, Rs 3 lakh worth of equity-less funding.
Conquest 2017, in association with Zoho, Accel, WNS and PayU, witnessed a participation of more than 1000 startups from across the nation. These applications were scrutinized based on their models, sustainability, user traction and a number of other parameters, after which, the top 50 were shortlisted for the Networking Sessions held in Delhi, Mumbai and Bengaluru. Fundraising, Product Management, Customer Acquisition, Tech, and Scaling up & Operations comprise the five categories in which the startups received expert guidance from the mentors.
Two more mentoring sessions were organised by the Conquest team, in New Delhi and Mumbai. Now the participants await the announcement of the coveted spot in the top 10 startups of Conquest 2017. The finalists will then present their ideas before the jury at the Grand Finale to be held on 27 August at Hyatt Regency, New Delhi.
Talking about the mentoring sessions, one of the mentee start-ups said
I was pleasantly surprised by the paramount expertise and brilliant insights offered by the mentors. Not only were the mentors willing to hear us out, but also agreed to keep in touch after the sessions. I look forward to setting up a meeting with them.
The Grand Finale of Conquest has the reputation of being a star studded networking event, with attendance from numerous industry stalwarts. Previous editions have witnessed attendance from the likes of R. Chandrashekhar, President, NASSCOM, Padmaja Ruparel, President, Indian Angel Network, Sanjay Nath, Managing Partner, Blume Ventures and Nilesh Kothari, Managing Partner, Trifecta Capital. With two insightful panel discussions, fishbowl sessions open to the audience and a networking lunch with industry leaders, the finale fulfills any startup enthusiast’s dream.
Owning a home is everyone’s dream but choosing the right builder, right locality is a herculean task. Not to mention that ‘Budget’ also takes a higher priority since even if you like a particular flat, it may/may not fall into your budget. On one hand there are some builders who charge ‘Premium’ for their flat since they are well-known brands and have a massive brand recall, on the other hand there are ‘Aspiring’ companies/builders that offer the best quality homes at reasonable price so that ‘Benefits’ are passed on the customer!
It is also a known fact that most of the construction projects get delayed due to rising cost of raw materials, approvals, etc. hence a builder that aims to deliver ‘Quality’ projects on-time would always have an upper-hand over its competitors. One such company is Kumari Builders and Developers that has successfully completed couple of residential projects in Bengaluru.
Today we have a chat with Ashok Naidu, Director, Kumari Builders and Developers about brand Kumari, his journey, learnings in scaling Kumari, Real Estate (Regulation and Development) Act, etc. So let’s get started with the Q&A…
Let’s rewind the clock, can you take us through the notable experiences of your professional journey [so far with Kumari Builders].
There is a lot that I learnt from my father when I joined. I enjoyed every phase when he handed over more responsibilities to me. During the initial stages of my career, I reduced the procurement time of cement materials from 15 days to 5 days by streamlining the entire process by directly dealing with manufacturers than dealers. I received special appreciation from my father and was handed over responsibilities of purchase department too. This was an important milestone for me.
Planning and designing Kumari Amaranthine is another noteworthy experience. This project is designed to obtain platinum certification under Indian Green Building Council’s Green Homes Rating System and is environmentally responsive. Projects such as these require more initial investment and may not necessarily bring in more profits. So when my brother and I proposed this project to my father, we were worried that he may not give the go-ahead as he is a no non-sense person when it comes to finances. Not only did he agree to the proposal, but he asked my brother not to over price it like projects of similar nature.
Considering your experience [with Kumari combined with your father’s exp in same business], how has the construction business evolved over the last couple of years.
The real estate segment is getting more regularized every year. We could practically start construction and finish it with just 15~25% of initial investment up to the late 2000’s. It is not so any more. You can only sustain if you have adequate primary funds. The power is gradually shifting from developers to consumers.
You have been an integral part of the journey at Kumari Builders which was started by your father, can you please highlight key pillars of the group.
We deliver whatever we promise without any compromise, we also make sure that we deliver on time. My father places a lot of emphasis on quality irrespective of the pricing of the apartment.
Since primary foothold of Kumari Builders is in Bengaluru [which is known for its tech], what are some of the technological advancements used by your group in order to cater to this ‘tech obsessed audience’ ?
A recent technology that we have implemented in our all projects is MSDD connection. It integrates FTTH [internet], CCTV and DTH in to one single circuit. The advantages are multi-fold – we can use multi DTH’s connection without extra wiring; no separate antenna is required and you can access CCTV footage at the entrance – you can watch your kids activities in the play area through your television. It offers faster internet as well. This is going to be a mandatory element in all of our future projects. In fact, in one of our projects in Whitefield that has a day care facility, we have installed CCTV and the parents can check on the children from their offices on their mobile phones.
Ashok Naidu, Director – Kumari Builders And Developers
Can you please list some of the noted projects of Kumari Builders and some of the USP’s of these projects ?
Kumari Woods and Winds and Kumari Amaranthine. Kumari Amaranthine is designed to obtain platinum certification under Indian Green Building Council’s Green Homes Rating System and is environmentally responsive with many sustainable features. At the same time it is not overpriced like projects of similar nature.
Kumari Woods and Winds is designed as a home for all age groups. It is located in Whitefield. The project includes a day care for working parents, amenities that keep the children busy during weekends and numerous features for the elderly as well.
Most of your residential projects are close to tech parks, hospitals, etc. where land rates will be high, but Kumari Builders offers flats at the best rates, how does Kumari Builders ensure that you deliver the best quality at much lesser rate ?
We follow a philosophy of ‘higher turnover and lower profit margins’ unlike the norm which is ‘lower turnover and higher profit margins’. That’s how we are about to launch our 13th project in just about 4 years.
How important is Post-Sales Support and what are Kumari’s methodologies to provide best Buying Experience to its customers ?
Most of our customers are from IT who are pressed for time. For them time is equivalent to money. Customer care is directly operated under the Director, which translates to quicker and better response.
Kumari Builders’s journey started with Anantapur district, how different is real estate business in smaller cities vis-a-vis bigger cities like Bengaluru ?
The basics are always same.Customer trust is much easily obtained in towns and smaller cities than in metropolitan cities.
With good success ratio in residential projects, what is the next growth plan for Kumari [Villa, expansion to newer cities in South India, etc.] ?
We will be entering the villa and plot segment, but our target audience will remain the same – young working professionals.
What are some of the marketing strategies used by Kumari Builders in order to market its projects ?
We do not believe in mere marketing strategies. We always strive to provide a great product at a competitive price. That’s what sells our projects despite not going in for a huge marketing spend.
Your thoughts on the Real Estate Regulatory Act Bill [RERA], benefits for customers and how it might have an effect on the Real Estate Projects ?
We have noticed a number of reforms and policies lately that are trying to regularize the real estate sector in India. RERA is a real game changer. Implementation of RERA offers protection and faith to home-buyers and investors. From an industry point of view, it can have some implications on completed yet unsold, ongoing and new projects.
The frequency of new project launches might lessen for a year. A decrease in supply may lead to increase in prices and also result in unsold inventory moving faster. Hence the sales of existing inventory may go up, but eventually it will reduce.
The latest regulations that call for firmer compliance and transparency may push real estate prices up. Some of the other reasons for the price rise include increase in construction costs due to the pressure to deliver projects on time irrespective of delayed material supply by vendors, contractor delays, natural disturbances, low sales or any other factors.
It is well-known that projects in prime areas generates faster sales than projects elsewhere. In fact, sales pick up mostly during the ready-to-move-in phase. It is not uncommon for developers to divert some of the fund flows from prime location projects to non-prime ones until the sales pick up. This would not be possible now due to restriction of fund flows up to 70% through maintenance of separate accounts.
An artist’s impression of Kumari Amaranthine in Bellandur
Can you comment on the PM’s mission of Housing for All and how builders [both big, mid and small builders] can turn this dream into reality ?
Building 2 crore homes is a herculean task and hence government has preferred a public-private partnership for these massive undertakings. This is a welcome move.
Most of the real-estate companies have Celebrity Brand Ambassadors, how much does it help companies [builders] to build a vibrant brand with celebrities on board ?
It’s just one of marketing strategies. Customers are better educated now. They can go beyond fancy marketing campaigns and look at the product itself. Customers would prefer a competitively priced better product than a normal product fancily marketed.
There has been lot of advancements in real estate like Precast, etc. how according to you can builders make best use of them in order to reduce TAT and deliver quality projects [at best prices] ?
I am happy to see that many builders are using advancements such as Precast and Mivan in construction technologies in recent years to reduce delivery time and improve standards in quality. However, not every advancement is suitable for every project. For example, precast is only affordable for bigger projects.
T. Ashok Naidu, you joined your family business at a very young age [and most of your staff is below 35 years of age], how do you keep your young team motivated and how much does having younger team members help in building a vibrant company ?
We do have a few experienced employees at higher levels. However, 90% of our team including my brother and I are below 35. Since most of the target customers we work for are below 35, we feel that employees of the same age group can understand and communicate with our customers better.
We hire staff who hold the same kind of ethos. It’s easy to be motivated when you work for what you believe in.
With GST implementation just around the corner, what is the impact that GST would have on property rates and the overall real estate sector.
Unlike the previous tax regime, GST allows input for tax credits on construction materials which is a boon for developers. Apart from simplifying the whole mechanism of taxation, it also brings the much-needed transparency into the sector. GST will not have a significant bearing on the pricing for property buyers.
How different is managing family business [since you are not a founder but have to think & act in an Entrepreneurial manner] and can you share some tips for entrepreneurs who are managing family businesses ?
Youngsters are fresh with new ideas and can quickly embrace changes unlike the founders or the elders in a family business. It is essential to learn from the experiences of the founders, while at the same changing with the times. It’s important to introduce changes gradually so it doesn’t upset the structure of the organisation.
Educability is a common trait among youngsters. Patience is an important value that the young generation needs to practice to manage a business successfully.
Family businesses need to embrace change (especially when baton is handed over to the next gen), how do you inculcate such values in Kumari and at the same time ensure to learn from the experience of your father [who founded the company] ?
Any business needs to embrace change and keep up with times to stay relevant. Embracing change is easier in family businesses. We make sure the change is gradual and streamlined rather than abrupt and radical and also in conjunction to the values of the founder.
Some books that you read and recommend for aspiring entrepreneurs ?
I have a lot of favourites but the one that I would really recommend is Purple Cow. It is an eye-opener on how to create something noticeable in everything you do.
We thank T. Ashok Naidu for sharing his valuable insights with our readers. If you have any questions for him or the Kumari Builders team or you are an existing customer of Kumari Builders, please leave your feedback/question in the comments section or share them to himanshu.sheth@gmail.com
