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|In: startups|Last Updated: | 0 Comments

Even as the Indian start-up ecosystem has enjoyed the best period in the last couple of years in terms of fundraising and getting global attention, starting-up is still not a cake-walk for many entrepreneurs. Considering the challenges associated while starting a company, ah! Ventures has created a marketplace that will provide startups with all kind of services right from creating a brand identity to hiring right kind of talent.

The ah! Marketplace, a unique platform, will help connect the start-ups to find relevant service providers at every step of their entrepreneurial journey.  The platform works on a model wherein accredited service providers from various realms like technology, legal advisory, design, content, finance, HR, etc offer their services to the enterprises looking for those.

The core proposition of this platform is not just to be a marketplace but to be a platform wherein every transaction is monitored and regulated. Every transaction between the parties is based upon a pre-decided package and the payments involved are thoroughly regulated by ah! Ventures. It is only after the successful delivery of the services that the payment processed. This feature is a game changer in a world where the start-ups interact with service providers unknown to them. It assures the entrepreneurs a fair deal with guaranteed services at customized one-time, annual or life-time packages.

Commenting on the need for a product like this, Harshad Lahoti, Founder and CEO of ah! Ventures, opined

Given the experience of being an active investing entity in the entrepreneurial eco-system of India, I believe that one of the key factors behind an idea becoming a successful enterprise is taking the right business decisions at the right time. Be it a branding overhaul or a technological innovation, it is these offerings that make the customer experience unique. With the launch of this marketplace, ah! Ventures aims to cut down on the time enterprises waste in finding the right partners and focus on bettering their core service offering.

Currently the platform is live with some of the niche service providers like PitchWorx, a creative design company offering Design, Presentation and Video Packages; Pronto Infotech offering Technology Resource Packages;ah! Ventures itself with its Investor Network offerings among others. There are a number of other service providers lined up to go live in a short while.

Commenting on offering viable solutions to startups, Abhijeet Kumar, Co-founder of ah! Ventures & Pronto Infotech said

In the nascent stages, start-ups have to be cost effective and yet they have to simultaneously focus on being technologically innovative. We truly understand the conundrum of such start-ups and hence Pronto Infotech is collaborating with ah! Ventures to offer holistic technological solutions to such deserving enterprises. These bundled monthly packages help the entrepreneurs follow a monetarily lean model. With such packages, we intend to extend high quality yet feasible options to entrepreneurs who wish to make it big in this startup world.

Dharmendra Ahuja, the Founder & CEO of PitchWorx-a creative design studio, understands the importance of getting access to the right pitching tools at the right time.

Commenting on offering PitchWorx services to the evolving entrepreneurs, Dharmendra Ahuja opined

Being an entrepreneur is every individual’s dream. Be it an investor presentation, an animated explainer video or even your website-we believe everything is a pitch! Having worked with more than 100 start ups and a number of global corporations we understand how important it is to pitch a business perfectly. Thanks to today’s booming visual content trends, we have been successful in helping startups captivate their audiences with a visually compelling story – every time! We are excited to be part of the ah! Ventures marketplace as a startup service provider in the creative design space.

Since its inception in 2012, ah! Ventures, spearheaded by Founder and CEO Harshad Lahoti and Co-Founder Abhijeet Kumar, has crossed numerous milestones. With an extensive network of 850+ investors, 17000 entrepreneurs and a over 100 crores of investment raised till date, ah! Ventures has strived to be the best guiding hand for the all the players in this ecosystem. With the launch of this unique marketplace, ah! Ventures is creating a positive disruption in a startup ecosystem which is in dire need of a service like this.

Startups looking for quality accredited Service Providers log on to ah! Marketplace. Service Providers looking to empanel, drop us a mail at marketplace@ahventures.in

|In: Galijob|Last Updated: | 0 Comments

The ‘On-Demand economy’ has definitely been a game changer in today’s fast paced environment and it is here to stay! Online medium is no longer restricted to shopping, mobile recharge, travel, etc. but it has many more dimensions. In fact, it acts an effective medium to reduce the demand-supply gap.

Image Credit – Blue Collar Worker

Blue Collar Recruitment : Bridging demand-supply gap

For skilled jobs, portals like Elance, Fiverr, etc. act as marketplaces that help to fill the Demand -Supply gap but Unskilled/Semi-skilled workers (blue-collar workers) like drivers, cooks, cleaners, delivery boys, etc. have to still rely on their acquaintances when they are looking out for a job. If they do not have any reference, they need to rely on agents who take huge amount of commission from them. Though the blue-collar job market is highly unorganized, driven by the urbanization coupled with growing internet penetration, huge market size & fragmented demand-supply, many startups are solving the problem of connecting skilled low-skilled workers with potential employers.

Industry estimates put the demand for blue-collar and entry-level white-collar jobs at 20 crore a year, and the market at USD 15 billion [Source]. Apart from the demand-supply gap, a shorter lead time is also required to identify potential employee for an employer e.g. There is a huge demand for part-time delivery boys during the Big Billion Days, Amazon Great Indian Festival Sale,etc. and any delay in on-boarding or shortlisting potential candidates could have significant business impact [Source].

Though vertical job sites e.g. Quikr Jobs, Naukri,etc. are trying to solve this problem, there are startups solely focused to simplify Job search for blue-collar job seekers. Today, we have a look at Galijob [‘Gali’ means ‘Lane’ in Hindi] that can help potential job seekers find a job in 24 hours.

GaliJob – Job marketplace for entry level & blue-collar job seekers

Galijob is a mobile-first (and mobile-only) marketplace for entry level and blue-collar job seekers. It is loosely based on a tinder-like matching service where the job seeker can get a job in 24 hours and likewise the employer can get potential candidate in the same time period!

For job seekers – Job seekers can create a profile on Galijob at the tap of a button and apply for a job in minutes. In order to maintain the 24 hours promise, Galijob ensures that the candidate receives a response within that time frame else application gets withdrawn from the employer’s list of candidate profiles. They encourage employers to be proactive and adhere the 24 hour deadline which ensures they stay at the top of Galijob’s preferred list of employers & receive good ratings. Once the profile is shortlisted by an employer, the candidate can call/chat with the employer in order to get further details about the position.

For employers – Similar to a job seeker, an employer needs to just post his requirement along with the location on Galijob. Once the requirement is posted, he can check the list of potential candidates on the platform & arrange for the next steps of recruitment. Galijob encourages shortlisted candidates with a positive rating to turn up for interviews which ensures they are always at the top of rating table and receive call from many potential employers. The concept of Rating ensures transparency in the entire recruitment process!

While reviewing the app, we browsed through the list of candidates (as a guest and with location turned on) and the results were accurate (shown in ascending order of distance). Since messaging has become so prominent, Galijob also supports Chat where potential job seekers can have a one-to-one chat with employers on the platform.

To summarize, the key features of Galijob are free job listing, One-click apply, Hassle free process, transparent rating policy, advanced semantic search to find what you are looking for and secure chat.

GaliJob – App Review

The app is currently available on the Play Store and on installation it takes around 14 MB of storage. Memory footprint is very critical for an app that caters to a market segment that might have Android phones with less internal storage (and many of them might not be using an external SD Card).

Though the app supports 5 regional languages along with English, it still is not 100% regional since the job description still appears in English. Once the language is selected, user needs to categorize himself as Job Seeker or Employer. There is also a guest mode which is like a read-only mode. Profile creation as a job seeker/employer takes only few minutes and once profile creation is complete, a job candidate would be shown with relevant recommendations based on his expertise & area of residence. We tried couple of searches in Whitefield area and results were favourable though results might vary based on locality.

The design of the Galijob app is simple and creation of profile on the platform is very easy! For reviewing the app, we did a chat with couple of candidates and the chat worked without any issue. Job seekers & employers can also do a search filtered by pin-code which comes in very handy while selecting a candidate.

GaliJob – Team, Competition and more

Galijob is founded by Ajay Anandteertha & Saurabh Saha and their startup is mentored by DAIICT Incubation. In terms of competition, Galijob competes with the likes of Babajob, Aasaan Jobs that are also horizontal-marketplaces for blue-collar recruitment. There are also vertical job sites like Quikr jobs addressing the same problem. It is currently bootstrapped. Galijob is currently operational only in Bengaluru and has received recognition from the Karnataka government for their unique initiative.

Conclusion

Currently only 49 percent of Indians own mobile phones and the data penetration is only 21 percent. However reducing prices of data, wider adoption of 4G [particularly Jio] and the push for Digital India can result in wider smart-phone adoption. Galijob follows App-Only approach, a strategy which was not well received by the users of Flipkart and Myntra [Source], though the model of app-only market place for blue-collar recruitment is already proven by the likes of Cornerjob, JobToday.

Though there is a huge difference between app-only for e-commerce vis-a-vis app-only for job marketplace, only time can tell whether India is ready for an app-only mobile marketplace! If you are an employer looking to hire the best talent in your industry, do give Galijob a try and share your feedback in the comments section…

|In: startups|Last Updated: | 0 Comments

India’s leading online platform that facilitates SMEs in obtaining working capital loans, Lendingkart Group, has been recognized as one among the world’s top fintech innovators by KPMG and H2 ventures in their prestigious 2016 Fintech 100 Global report. Lendingkart Group’s consistent focus on seamless delivery of quality and hassle-free services in facilitating small business working capital loans, has enabled it to become a part of the celebrated report. It is the only Indian fintech company to be featured thus in the online lending SME space.

The report is distinguished to feature companies that utilize technology to disrupt financial services industry across the world. Currently in its third year, companies from 23 countries worldwide were evaluated and the ones who demonstrated commitment to superior customer experience have been included. Apart from LendingKart Group, some of the other leading fin-tech companies in the world that were featured in this report are Lending Club, Ant Financials (Alibaba Subsidiary), Qudian, Oscar and Lufax.

Harshvardhan Lunia, Co-Founder and CEO, Lendingkart Technologies said

FINTECH100 is one of the most sought after reports in the Fintech space and it is an honor to be a part of the global list. We at Lendingkart Group are committed to eliminate the credit gap that exists in the SME community, and this is an important recognition that reflects on the success we have seen over the last two years. Technology has been the back bone of all we do at Lendingkart Group as we constantly innovate towards a more seamless and automated loan disbursal process. Such accolades keep us motivated to continue the innovation, working our way towards financial inclusion of the MSME space.

Lendingkart Group NBFC provides for working capital needs of Small and Medium-sized Enterprises offering quick and easy collateral-free loans with minimal paperwork. The robust technology platform has helped create a highly operational efficiency model that utilizes over 2200 variables and data points for swift loan disbursement, delivered within 72 hours of complete loan application. Most recently Lendingkart Group was also felicitated with the title of ‘Fastest Growing Company’ by Golden Star Six Sigma Awards.

About Lendingkart Group

Lendingkart Technologies is a fin-tech startup in the working capital space. It has developed technology tools based on big data analytics that facilitates lenders to evaluate borrowers’ credit worthiness. Aadri Infin Limited, a wholly owned subsidiary of Lendingkart Group, is a non-deposit taking NBFC, offering small business loans for SMEs in India. Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows. To know more, please visit LendingKart

|In: Accelerator|Last Updated: | 0 Comments

Google announced the seven promising startups from India, that will join the third class of Launchpad Accelerator along with startups from Brazil, Indonesia, Mexico Argentina, Colombia, Philippines, Thailand and Vietnam. These startups will join the six month long intensive mentoring program from Google for mid to late stage startups including a two-week all-expenses paid boot-camp that kicks off early next year [January 30, 2017] at Launchpad Space in San Francisco. Additionally, each startup will get USD 50,000 in equity-free funding.

Shortlisted startups from India include an on-demand wardrobe rentals service, furniture and appliances rental service, top tutor help service, a platform for doctors to discuss medical cases with peers from across the country, an Indian word games for adults and kids, a service that allows you to earn money for playing games and a CRM app that helps businesses to do better lead management.

Indian startups selected for the Google Accelerator Program
Indian startups selected for the Google Accelerator Program

The program begins with determining each startup’s critical challenges, in order to deploy precise mentorship, actionable solutions, and Google resources to enable their product/service app to scale. The seven start-ups will then get tailored expert guidance from Google engineers, product managers and other mentors from top technology companies and VC’s in Silicon Valley.  Additionally, they will receive equity-free support credits for Google products and work closely with Google for six months in their home countries.

Paul Ravindranath G, Program Manager, Launchpad Accelerator said

We are delighted to help Indian startups in their journey and help them to scale and find success in their endeavors. Access to good mentoring and advice at early to mid -stage can make a meaningful difference. Over the last one year, thirteen Indian startups have participated in the program and many have already gained from the program and have successfully raised funding. Nestaway who was part of our first batch from India closed a $30M series C investment. MagicPin that offers deals and discounts for Restaurants, Spas, Salons implemented a progressive web app that has helped them to drive over 10% of their total daily transactions. We hope the next batch will continue to find value in the program and help them to succeed.

Amarendra Sahu, Co-founder of Nestaway from India said

Launchpad accelerator program made us believe that even we could build a world class product and the mentors helped us to understand what was needed to get there. We have recently asked for follow-on engagement with mentors. If you are a startup who believes in changing the world through tech product, then this is the program for you.

For those interested in applying for future Launchpad Accelerator classes, follow Launchpad Accelerator updates

|In: QuickCompany|Last Updated: | 0 Comments

KhanMarketOnline, does this name sound familiar to your ears? It is a site that is linked to the famous Bollywood actor, Salman Khan 🙂 Though most of his films score exceptionally well at the box-office, this online venture from him had landed into controversy since the name KhanMarketOnline is very similar to 65 year old famous Khan Market in Delhi [Source]. Yes, it all boiled down to the name and there is a possibility that Khan Market could be a registered trademark and the name of the online venture resulted in Copyright/Trademark Infringement

Image Source – Team

On a similar lines, Swedish home products retailer IKEA that had planned for it’s foray in India lost a trademark infringement case against Bengaluru-based Quess Corp that runs recruitment and staffing businesses under the brand IKYA Human Capital Solutions [Source]. This is just one-off news about Copyright/Trademark/Patent infringement and it is become very critical to protect them since they are an intangible asset for any organization [be it startup or an MNC].

The point in contention is whether startups need to worry about patents, copyrights or trademarks. There are always long-term tangible benefits in protecting company’s intellectual assets, the startup world has two kinds of entrepreneurs-those who patent their ideas and those who don’t.

As part of the Startup India Action Plan 2016, the Government of India has given significant amount of importance in promoting Intellectual Property Rights (IPR) awareness and registration. Major push has been given to remove/limit the number of hurdles for facilitation, registration of trademarks, patents, etc. for startups. These are very critical for product startups since their USP is the IP and this can effectively be a part of long-term brand building strategy!

As the serial entrepreneur Elon Musk rightly says

Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product [Source]

Though India ranks 130 in the Ease of Doing Business i.e. moving up four places from last year’s adjusted ranking of 134, there are a lot of lingering questions in the minds of entrepreneurs about company registration [Sole Proprietorship/Limited Liability Partnership/Private Limited Company], Trademark/Copyright registration, etc. This is a very important problem to solve since entrepreneurs can work on their path-breaking ideas (without any distraction) and leave this job to experts!

This is where startups like QuickCompany can come to your rescue. QuickCompany is a technology startup based out of New Delhi aims to make registrations as quick and transparent as possible. It is co-founded by Manmeet Singh who started QuickCompany when he faced innumerable hurdles in registering his previous startup. He wanted entrepreneurs to be more productive (by focusing on their idea) and leave trademark, registration, patent, etc. related work to QuickCompany!

QuickCompany : Registrations, Trademarks and much more…

QuickCompany provides the following facilities for businesses

Trademarks – A trademark helps you to not only create a distinctive identity for your business but also to avoid incurring any damages. It offers Trademark registration, Trademark Objection, Trademark Assignment, Trademark Renewal. Along with clear indication of the price, Requirement of documents and Filing Time for each & every process; there is a vast amount of knowledge base about Trademarks on QuickCompany that would be very helpful for a first-time entrepreneur. This article about trademarks highlights know-how about trademarks for tech entrepreneurs.

Copyright Registration – Copyright is defined as a property right of an original work owned by an individual which is fixed in a physical medium of expression, thereby giving the holder an exclusive right to reproduce, distribute, perform, and display the work. Whether you are into tech, music, drama, writing, films,etc. now get legal rights for your original work for use & distribution. For more details on the cost, time frame for registration, etc. please visit this page

Design Registration – Design registration is the process by which a design can be registered thereby acquiring legal rights to own that design. The website demonstrates every stage of design registration and it is great to see that they are offering Money Back Guarantee (in case customer is not satisfied with their service). For more details, please visit this page.

Company related services – Whether you are planning to register a company/planning to add a new director to your company (and want to get the DIN)/converting your company from LLP to Pvt. Ltd or vice-versa/planning to go Public/planning to close your business, etc.; Quick Company offers these services for startups as well as growth stage companies. The Company and Trademark Data can come in very handy in case you plan to use these services.

Tax related services – Planning to export goods from India or import goods to India, than you could apply for IEC Number by using their Import Export Code registration facility. If the turnover of your business is more than 9 Lakhs and plan to apply for Service Tax, QuickCompany can do that work for you so that you can focus on expanding your business footprint!

QuickCompany : Design, Extensive Knowledge-base

The overall design of QuickCompany is very simple and we liked the fact that the Search Box (to register Trademark or Company) is given more prominent space. Since the charges are mentioned up-front, it definitely builds more customer confidence.

Since QuickCompany is also a startup, it becomes very important to have details about the Team, Customer Support details, etc. very evident in the site. However, we found that the Team Section is not mentioned in the Main Menu (Header) but is located in the footer, same is the case with Refund Policy!

The growing knowledge-base about companies, trademarks, taxes, etc. is definitely good starting point for anyone who is planning to register his/her company or trademark.

QuickCompany : Closing Thoughts

Though there are many other companies that operate in more or less similar space as QuickCompany, it would all boil down to the QoS (Quality Of Service) and the one who provides better service would win more customers! Unlike their competitors, QuickCompany is yet to enter into Patent Filing. It would have been interesting if they also had a Package Deal (for Startups) i.e. Registration+Trademark since it would be a win-win for both the stakeholders! Initiatives like Startup India, Digital India, Startup India Fund, etc. has definitely resulted in more people taking the entrepreneurial plunge and hence services provided by QuickCompany are need of the hour.

If you are an entrepreneur and plan to register your company or trademark your idea, please head to QuickCompany to avail their services…

|In: Entrepreneurship|Last Updated: | 0 Comments

The Indian School of Business (ISB) in association with the U.S. Consulate General Hyderabad announced the launch of ISB Envision, a nation-wide Accelerator Programme to identify promising start ups that are leading the charge on Innovation and Excellence.

Designed by ISB’s Centre for Innovation and Entrepreneurship (CIE) and its incubation arm, DLabs, ISB Envision provides selected participants an opportunity to be part of the incubator/ accelerator programme at the ISB that will support ventures which have the potential to bring about a disruptive change in the area of Smart Cities. Climate Change, Education and Women’s Empowerment.

Making the announcement Rajendra Srivastava, Dean and Novartis Professor of Marketing Strategy and Innovation, ISB said

ISB Envision is our endeavour to create a socio economic impact by supporting the next generation of entrepreneurs to develop creative solutions to challenges and opportunities in the economy, overcome problems facing the society and create value for the country and our people. We hope this initiative from the Centre of Innovation and Entrepreneurship and DLabs at ISB will attract the best of entrepreneurs who have it in them to make a difference.

U.S. Consul General Katherine Hadda said

President Obama said recently to some entrepreneurs – Entrepreneurship remains the engine of growth. Ultimately, the world needs your creativity and your energy and your vision. Social entrepreneurs, in addition to being engines of growth, are agents of change. They are driven by a commitment to being socially responsible and putting mission before profit. The U.S. Consulate General Hyderabad is proud to partner with an exceptional business school like the Indian School of Business and to support the ISB Envision. ISB Envision is a true example of the shared values between the U.S. and India, as we strive for positive social impact in whatever we do.

ISB Envision includes two broad tracks: Start-up Initiate and Start-up Advance for early stage entrepreneurs

Start-up Initiate encourages entrepreneurs with a proof of concept and a viable business plan. This track aims to identify five entrepreneurs to be part of the ISB Incubation programme.

The five selected ventures will receive the following:

1. Incubation at DLabs@ ISB for a period of six months
2. Access to ISB’s network of mentors and investors

Start-up Advance is targeted at early stage start-ups that have been operational in business for 12 months and above. It will aim to identify five teams to be part of the accelerator programme to receive mentorship from the best minds in the industry, access to potential investors to secure funding and grow the venture to the next level.

The five selected ventures will receive the following:

1. Be part of the three month Accelerator programme at ISB
2. Access to ISB’s networks of mentors and investors

Some of the leading investment groups such as Matrix Ventures, Hyderabad Angels, TiE Hyderabad and Anthill Ventures are supporting ISB Envision as investment and mentoring partners.

Application Process

  • Applicants have to register online before 31st, December, 2016 at envision.isb.edu
  • Ten short listed applicants per track would be invited for a pitch day at ISB
  • Five teams per track would be finally inducted into the ISB Envision programme.
  • The Centre for Innovation and Entrepreneurship and DLabs at ISB will provide guidance and support to the start-ups throughout the programme.

 

About ISB

Indian School of Business (ISB) is a global Business school offering world-class management education across its two campuses – Hyderabad and Mohali. It is the youngest school ever to consistently rank among the top Global MBA programmes, the first institution in South Asia to receive the prestigious AACSB accreditation, one of the largest providers of Executive Education in Asia, and the most research productive Indian management institution. For more details please visit ISB

|In: Interviews|Last Updated: | 0 Comments

Couple of years back when I was associated with an early stage startup where the product was it’s IP, it was critical for us to patent the product! Though it was couple of years back but entrepreneurs still face the mounting challenge around registering their startup, protecting trademarks, etc. (Source)

Ideas are born out of problems that you face and the same is true for Manmeet Singh, Founder & CEO of QuickCompany. Manmeet faced lot of legal hurdles while running his earlier startup and this is where he saw a market opportunity and QuickCompany was born!

Today we have a chat with Manmeet Singh about QuickCompany, entrepreneurial journey, learnings, tips for aspiring entrepreneurs, etc. So, let’s start with the Q&A…

How and when did you come up with the idea of QuickCompany

Manmeet Singh had a startup running for weddings on his personal account. He wanted to register a company, went to some CAs and realized the pain in running behind CA’s, getting work done and figured out why not do a start up which registers companies since it would solve the problem as bureaucracy is a big pain in India.

Can you give a small background about you and it’s founders ?

Manmeet is the Founder, CEO of QuickCompany. He has graduated from London and worked there for a couple years. After that he was working for MNCs and every product he made got popular and made the company rich. He figured its high time he should have his own startup and this is what made way for QuickCompany. You can find more about Manmeet here

QuickCompany is a very interesting name (since the name speaks for it’s service), what are some of the other potential names that came up while forming your company ?

We wanted to emphasize on Speed and Low cost of registrations. At the same time, we also wanted a name which is very simple to remember and can click in the minds of our customers. Hence, we chose QuickCompany, some of the potential options were Rocket Registration, GoLimited (Inspired from GoDaddy) and RabbitRegistrations.

What are some of the crucial learnings for you (as an entrepreneur) when you started QuickCompany ?

There are many learnings so far and the list just keeps on growing day by day. Some of the top learnings are below:

1. Pick a fight, if you know you are right (since the CAs might be over charging)
2. Engineering is the easy part, people management is more difficult
3. Market Products are overrated (We were using Sales Force and Lead Squared and thought they were not good enough)
4. Bi-Products can be highly valuable (We made our own ERP)
5. You can do big things with a small team (We only have 3 developers including the founder, no designers, no network people) and still we have a kick-ass product
6. Decision making is progress

Please walk us through the Business Model of QuickCompany

It is a simple model, we charge you a small fee per registration. The more the registrations the lower the price (as the Internet is all about multiples).

What are some of the services that startups can look forward to when approaching QuickCompany

IP, Trademarks, Registrations and Taxes

So far based on your insights(and services so far offered to startups), what are some of the biggest pain-points of entrepreneurs w.r.t IPR, Company registration, etc.

All Startups seek funding. Funding is Plan Z not Plan A, no one builds a startup to solely get into the funding game. Entrepreneurs start companies to change the world! Idea is worth nothing. It is all about execution (Google is not the first search engine, iPhone is not the first smartphone, Tesla is not the first battery Car). We learnt at 91Springboard that startups generally have big plans but many of the startups fail since there is no product or execution. They are unable to convert the grand vision into a viable and market-fit product.
How does QuickCompany stack up against it’s competitors ?

We have a very lean team. We are technology based not people based. In the year 2015, QuickCompany was only 1 year old and we achieved the same registrations as our competitors! That was a very significant milestone for us at QuickCompany. Many of our competitors brag about 160 people in a team, we like to keep lean. We are able to provide more services to our clients with less burn-rate since we are only a team of 30 people in QuickCompany.

Can you please shed some light on what care startups need to take care of especially if their idea is highly technology based (and their idea is the IP) ?

This is a myth, it is not about the technology you use but it is about having the right product fit. If you have a hammer you tend to see every problem as a nail. The mantra is Always be focused on the problem you are trying to solve, everything else is secondary.
Solve problems of the future in the future. Your startup does not need Big Data and Enterprise solutions, start up small and as you grow learn, change and evolve.
Key is to be lean. Overhead walks on 2 legs, it becomes really difficult to get rid of dead weight if you gain some. That is one of the fundamental reasons why so many heavily-funded startups are laying employees in huge numbers!
Is QuickCompany bootstrapped/VC funded and are you looking out for funding ?
Bootstraped. As mentioned earlier, Funding is Plan Z and we adhere to that policy. Look for funding only when necessary & required. The point is many startups get over-funded and many times that is also a bigger worry!
When according to you should an entrepreneur look out for external funding ?
When there is no choice and when the entrepreneur is run out of funds from FFF (Friends, Family and Fools).
Some tips for aspiring entrepreneurs and something that keeps you motivated everyday for your startup ?
Passion is overrated and will burn out. You need a system, not a goal. To give you an example if you exercise everyday regularly, you will have the body of a model and that is what is termed a system. It is always best to ensue things, not pursue things.
Your thoughts on Digital India and how it has sprung the entrepreneurial zeal in India ?
There is a lot of zeal but somehow the talent that you find in the market is sub-standard. We only believe in one thing – To have mastery in what we do and that is what keeps us ticking all day long!
Some tips on Scaling up and Hiring especially for SME’s
Scaling up is a post process of marketing. There is no point having big warehouse and operations teams since that would add up to your operational expenses. Scaling up is a very organic process. To give you a perspective, think of it as drug dealing – if Walter White deals in the best Crystal Meth, he better find a way to scale else very soon the growth will be flat instead of showing a hockey-stick curve!
How much important is Marketing & Brand building for startups ?
In the initial year, branding does not count for much. After you hit a critical mass and a super service, it counts a lot.
Any closing thoughts for our readers on entrepreneurship ?
Do not Start, if you do not have perseverance. It will suck the life out of you, always remember 99.99% will fail and hence, building a startup is a beautiful journey with many ups and downs (which are all a part and parcel of the game).

If you have any questions for the QuickCompany Team, please leave them in the comments section.

|In: Entrepreneurship|Last Updated: | 0 Comments

No ordinary disruption. In the business world, change means opportunity – to find it you need to know where to look. Witness the real-time startup trends at the World Startup Expo 2016, November 21~November 23, 2016 at Bangalore International Center.

The Asia’s largest congregation, aims to bring together the most happening and disruptive startups and SMEs, along with the expertise of executives from the top corporations, government agencies, incubators, investors, HNWIs, VC funds, banks, students and technology companies from across the world.

Get an insight into the developments that will have the greatest impact on the business world in coming decades. The trends that are fads and one which will stick. The technologies that have the greatest potential to remake today’s business landscape include, Autonomous vehicles-Autonomous cars are coming, and fast, by 2025, the ‘driver-less revolution’ could already be ‘well underway.’ Cloud technology-the growth of cloud technology will change just how much small businesses and startups can accomplish. 3D printing-the manufacturing process will ‘democratize’ as consumers and entrepreneurs start to print their own products. Renewable energy–Wind and solar have never really been competitive with fossil fuels, with the changing trend the International Energy Agency predicts that the sun could surpass fossil fuels to become the world’s largest source of electricity by 2050.

Commenting on this initiative, Nebu K Abraham, Co-founder & CEO, Cocoon Ventures and director-World Startup Expo said

This congregation will not only provide prescient diagnosis of what’s to come, but also offer compelling thoughts on how we succeed in a world of startups that’s moving faster and faster every day. The industry stalwarts will give an insight into the massive changes which can be overwhelming, as well as inspire the attendees to confront them with intellect, humanity, and a profound optimism about our future.

To maximize the platform, WSE 2016 will have four different streams running over three days.

  • WSE Exhibition: 10000 SQM exhibiting area with 500+ startups, technology companies, educational institutions, free trade zones and banks
  • World Tech Hackathon: A coding challenge which will see participation from over 2000 students and corporates
  • WSE Conference: A 2-day conference with high profile national and international speakers
  • WSE Awards: An award ceremony acknowledging the work done by startups

An important interactive platform for policy-makers, investors, startups, media, industry partners and associations interested in updating their worldview and making it fit for modern purpose.

About World Startup Expo (WSE)

WSE is for everyone looking to learn, listen, and collaborate; to harness their creativity and find the tools and resources to bring their ideas to fruition. It is for those startups looking to build and expand their tribe. For more information, please visit World Startup Expo

About Cocoon Ventures

Cocoon Ventures is a venture capital firm that provides growth capital required for seed stage and early stage startups across a wide spectrum of industries. Set in the UAE, our mission is to be an ideal business launch pad through empowering dynamic entrepreneurship, creating and nurturing long-term business relationships. For more information, please visit Cocoon Ventures