Highlighting the growth opportunity in the digital payments industry in India, Google and Boston Consulting Group have launched a report, Digital Payments 2020. The report provides a comprehensive overview of the current transformation underway in digital payments and its impact on the overall payment landscape in India. The report is based on Nielsen’s qualitative and quantitative research with over 3,500 respondents, combined with BCG and Google’s industry intelligence.

  • The report projects that by 2020, the size of digital payments industry in India will be $500 billion; contributing 15% to India’s GDP.
  • By 2020, Non-cash* contribution in the consumer payments segment will double to 40%. Already 81% of existing digital payment users prefer it to any other non-cash payment methods.
  • Online, shopping, payment of utility bills and buying movie tickets have emerged as the three top things that a user primarily interacts with.
  • Indian consumers, are 90% as likely, to use digital payments for both online as well as offline transactions. Over 60% of digital payments value will be contributed by offline points of sale such as unorganized retail, eateries, transport etc.
Click to zoom
Click to zoom

Speaking about the key findings of the report, Rajan Anandan, VP, SEA & India, Google said

Spurred by smartphone penetration, and supported by progressive regulatory policy, the digital payments industry is at an inflection point and is set to grow 10X by 2020. It is telling that half of India’s internet users will use digital payments and that the top 100 million users will drive 70% of the GMV – a clear indicator of the growing importance of the digital consumer.

Alpesh Shah, Senior Partner & Managing Director, The Boston Consulting Group, India said

Global digital payments is undergoing rapid transformation and is set to grow four times in value by 2020. India is on an even more exponential growth trajectory. The smartphone explosion will usher in a new era in digital payments in India over the next few years that will see digital payments exceed $500 billion by 2020 and non-cash transactions exceed cash transactions by 2023

Based on the research conducted, convenience has emerged as the most important factor that is driving this growth. This is followed by availability of offers while opting for digital payment methods. The report also highlights that micro-transactions will form a substantial portion of the industry, with over 50% of person-to-merchant transactions expected to be under INR 100. The report predicts that the value of remittances and money transfer that will pass through alternate digital payment instruments will double to 30% by 2020.

*Non-cash includes cheques, demand drafts, net-banking, credit/debit cards, mobile wallets and UPI

The report identifies the various challenges that the digital payments ecosystem will need to overcome in order for the industry to grow to its potential. The research has shown that 1 of 2 non-users haven’t used digital payments because they found the product too complicated to understand and 61% of non-user merchants find it complex to use. Additionally, universality of acceptance of digital payment methods and merchant concerns around speed of transactions during peak hours have emerged as other inhibitors to usage.

Report Methodology

The report is based on a qualitative and quantitative research executed by Nielsen. Insights from this research were then combined with BCG’s proprietary sizing model as well as Google and BCG’s industry intelligence.  

For the purpose of the study, Nielsen conducted 14 group discussions, and 26 In-depth interviews for users and merchants in 3 cities [Mumbai, Lucknow, Delhi], and inputs from these were then used to form a comprehensive consumer and merchant quantitative survey. The consumer survey covered over 3,500 respondents [Digital consumers – 1,516, remittance users – 917 and merchants – 917], across nine geographies – Delhi, Mumbai, Bangalore, Ludhiana, Lucknow, Indore, Surat, Vishakapatnam and Coimbatore.

Skyscanner, the global travel search engine have announced that travellers will be able to search for hotels and car hire from the existing flights app. Planning travel will now be super easy with flights, hotels and car hire searches all addressed in one app.

With growing smart phone penetration and social media revolution, Indian travellers are increasingly logging onto the internet to plan their vacations. According to the IAMAI-IMRB [Internet and Mobile Association of India-Indian Market Research Bureau], online travel accounts for 61% of Indian ecommerce and the online travel industry is expected grow at around 40% to reach Rs 122,815 crore by end of 2016.

The trend for both searching and booking travel on mobile has accelerated dramatically in recent years, with the Skyscanner apps having been downloaded over 40 million times worldwide. 45% of all Skyscanner searches in India are now made using a mobile device*, while the last year alone has seen a 24% increase in people booking via smartphones in India**.

In an effort to make searching and booking travel even easier, the free Skyscanner app [compatible with both iOS and Android devices] will continue to deliver personalized, relevant and inspirational travel information, in addition to exciting brand new features designed to save travellers time and money.

New SkyScanner features to save money

A new Explore Top Deals section provides easy to navigate deals including:

  • Summer holiday deals – For those on the hunt for sunshine this summer, find all the best options per month from your chosen airport
  • City breaks – Travellers can find the cheapest options for a last minute weekend city break with this new feature
  • Everywhere – For those with set travel dates yet totally flexible on destination, challenge Everywhere to find the top deals from your chosen airport
  • Timeline view – This view allows travellers who have searched for a specific destination in the Explore Top Deals section the chance to easily find the best flight options for the near future

New SkyScanner features to save time

The Quick Search section also has a number of new and refined features, including:

  • Hotels and car search sync – Hotels and car hire are now automatically synchronized with flights search so travellers no longer have to re-input check in times, destinations, pick up locations, etc
  • Revamped hotels booking view – Quick snapshots of all the key information (images, reviews, price) for hotel results with the revamped hotels booking view
  • Instant flight search – Search results are instantly refreshed, and as new parameters are set the search automatically starts in the background so no waiting for new results to load and as new parameters are set the search automatically starts in the background so no waiting for new results to load
  • Ratings – To help travellers to pick the best flights for them quickly and easily, search results can be ordered by price, duration or ‘rating’ – the latter of which takes into account the price, number of stops and duration and is reflected in a colour coded smiling/frowning face and score out of 10

Kavitha Gnanamurthy, Senior Marketing Manager, Skyscanner said

We at Skyscanner understand the demands of the evolved traveller, providing them with the opportunity to plan a cost effective trip. With our unified app, we become the perfect travel partner to design an easy and smart trip, incorporating all of ones travel needs under one roof.

Balint Orosz, Head of App Product, from Skyscanner said

At Skyscanner we believe it’s important to continue to innovate and develop technology as the needs of our customers evolve. We’ve incorporated all of the learnings and user feedback from our standalone hotels and car hire apps into this new, upgraded offering, making it the ultimate app to serve all your travel needs.

Visit Skyscanner.net/mobile for more information and how to download the Skyscanner app.

About Skyscanner

  • Skyscanner is a leading global travel search company providing free search of flights, hotels and car hire.
  • Founded in 2003, Skyscanner helps meet the travel planning needs of over 50 million people each month.
  • Skyscanner is available in 30 languages.
  • Skyscanner’s highly-rated free mobile apps have been downloaded over 40 million times.
  • The privately-owned company employs over 700 staff and has ten global offices in Edinburgh, London, Singapore, Beijing, Shenzhen, Miami, Barcelona, Glasgow, Sofia and Budapest. For more information, please visit Skyscanner

ITC Infotech successfully concluded the 2nd chapter of iTech 2016, its annual technology innovation & co-creation platform aimed at promoting entrepreneurship. As part of iTech 2016, ITC Infotech organised a 30-hour hackathon on augmented reality [AR] and virtual reality [VR] at its Bengaluru campus on July 16 and 17, 2016.

The event concluded with ITC Infotech hosting a unique ‘Showcase’ session where the winners were provided the opportunity to directly present their solutions to ITC Infotech’s biggest global customers as well as the business division heads from ITC Ltd. to explore real-time business opportunities.

Image Source* – iTech 2016

The hackathon was organised for professionals, developers and students as well as talented individuals from start-ups. It provided the participants with an opportunity to develop their ideas into prototypes, addressing a host of crowd-sourced business challenges from the Manufacturing, Consumer Goods, Retail, Hospitality, Education & Stationery Products, Banking, Financial Services & Insurance and Agriculture sectors.

A total of 45 teams were shortlisted from over 1,700 entries. The winning teams received cash prizes in addition to mentorship and go-to-market partnership offers. The winners, a team of 4 students from SRM University, created a smart phone app, titled ‘Nomi’, that would re-define the shopping experience in stores. The app, designed using artificial intelligence and advanced machine learning, creates an immersive and interactive AR and VR environment to assist customers choose the right product.

The first runner-up, a team of 3 students from M. S. Ramaiah Institute of Technology, created a Smart Helmet, ‘ridAR‘, based on AR to help bikers navigate smoothly on roads. The second runner-up, a team of 4 professionals from SAP India, created a Virtual commerce platform aimed at increasing the sale of lifestyle retailing products by reaching customers through the various digital communication channels available in the market today.

The teams ranking fourth and fifth were also recognized for their AR/VR solutions in the categories of hospitality and education & stationery products, respectively.

The panel of judges consisted of business leaders from ITC Infotech’s partners and global clients, such as KONE, BAT, Microsoft, PTC and SAP Labs along with senior leaders from ITC’s businesses.

Commenting on his experience as a jury member, Jason Schern, Senior Vice President, Global Services, PTC said

It was great to see a mix of both students and professionals from start-ups applying emerging technologies and combining augmented reality and virtual reality to create business transforming solutions. I am taking back with me a really great perception of the level of capabilities of both of students and start-ups here in India. iTech 2016 made it much easier for me to understand the skills and capabilities that can be leveraged for companies like PTC global services and others.

Commenting on the success of the event, Sushma Rajagopalan, CEO & MD, ITC Infotech, said

Though AR and VR technologies are still at a nascent stage, they have the potential to revolutionize customer and employee experience. The maturity of the solutions that emerged at the hackathon was indeed encouraging. In addition to selecting 3 winners, we were compelled to award prizes to the two other teams in the top 5 as well as 7 ideas that had high business relevance. Through iTech, our annual technology festival, it is our endeavor to offer a platform that will build an ecosystem of students, IT professionals, entrepreneurs from start-ups, technology enthusiasts, clients and partners and help create solutions for real business challenges. We will help the winners implement their solutions and assist them in gaining global market access in an accelerated time frame

ITC Infotech believes in promoting innovation and fostering a culture of entrepreneurship in the ecosystem. iTech 2016 is a step towards nurturing entrepreneurs and start-ups in creating the technologies of the future.

About iTech 2016
iTech, an ITC Infotech initiative, is an annual technology innovation platform. The platform will focus on leveraging emerging and disruptive technologies to create business-ready solutions, for addressing some of the most challenging problems faced by the industry. For more information, please visit http://www.itcinfotech.com/iTech

India’s leading B2B e-commerce platform Industrybuying unveiled ProcMan, a customized product solution for enterprises that eliminates the inefficiencies and centralizes their industrial product procurement process. The product includes an Online Catalogue Interface [OCI] that has the ability to integrate with most of the ERP systems available in the market.

The latest development comes in order to expand its enterprise arm by providing an innovative platform that solves the major challenges involved in customized product discovery, vendor consolidation, pricing, logistics & supply chain, approval protocol, resource allocation and purchase through purchase orders.

Rahul Gupta, Co-founder, Industrybuying said

While interacting with companies, we saw that medium-large enterprises are usually quite efficient in managing their direct spends, however they would like a solution for managing their indirect or non-bulk expenditures. There are a lot of tech-enabled solutions available in the market to help enterprises manage their purchases like raw material, fuel, chemicals & gases through e-procurement or e-auctions, integrated systems with OEMs, etc.

However, for other types of supplies there is no ready solution because they fulfill such requirements from a highly fragmented and relatively unorganized supply chain consisting of several product/brand specific wholesalers, agents, traders, re-sellers, distributors, stockists, buying houses, dealers, etc. It is marred with low price visibility and unpredictable availability as a result businesses end up managing thousands of vendor codes each not amounting to any significant business volume individually.

Procman solves these problems and provides complete transparency in their procurement process. It delivers direct savings of up to 20% due to better pricing in addition to indirect savings in the form of planned procurement, less manpower, less paperwork and also avail tax benefits on these purchases as applicable.

Industrybuying is all set to drive its enterprise sales through ProcMan, targeting annual GMV of Rs. 180-200 crores and at least 40-45% of sales contribution by March 2017.

Commenting on the newly developed product Udit Srivastava, Sr. Vice President, Product Engineering said

Our product & engineering team have been working endlessly for the past 6 months. The product provides the flexibility of using it through a custom portal which works well for relatively small businesses and it can integrate with ERPs of the large enterprises, too. We are optimistic that this cloud based solution will eliminate all the inefficiencies and become a one-stop solution for enterprise customers.

By integrating this platform, the enterprise will get an instant access to over 5000 vendors and best negotiable prices for the ordering & re-ordering process. It will also help them to generate custom reports to analyse spend, ordering history, shipment history and payment history. Some of the enterprises have already integrated this product and have started availing benefits during their product procurement.

At present, Industrybuying has more than 150 enterprise customers on its e-commerce platform and around 5000 vendors spread across the length and breadth of the country. The platform is an appropriate solution for enterprises & businesses to procure industrial utility products online as it provides technology & services that enable selection, payments, customer support & fulfilment – all as a wholly integrated experience.

About ProcMan

ProcMan is a customized cloud based platform that allows enterprises to centralise online procurement process efficiently through desktop or mobile. It brings comprehensive digital catalogue/products together at one place, helps create a custom e-catalogue after analyzing the current spends and allows best negotiable rates to be fixed for a period of time that allow greater efficiency in the buying process and facilitates in achieving significant cost savings.

Some of the powerful features such as vendor consolidation, customized product discovery, order management, custom reports to analyse the entire spend, document repository for all rate contracts, bills, invoices, delivery receipts, payment advice’s and payment receipts to streamline the entire workflows and allow enterprises to plan and control over the entire spending for their industrial procurement. For more information, please visit ProcMan

About Industrybuying

Industrybuying is a leading Business e-commerce platform, selling a wide range of business and industrial products to SMEs as well as large businesses. It has over 4,000 registered sellers and more than 60,000 registered businesses – SMEs & large corporates that are procuring online from Industrybuying. Industrybuying offers over 1 million products across 45+ categories ranging from Safety and Security, Electrical and Lighting, Power and Solar, to MRO supplies and many more categories.

Industrybuying is backed by some of the leading Indian and global investors. Based out of Delhi NCR, the company has a Pan-India footprint with fulfillment centres in Mumbai, Pune, Ahmedabad & Bangalore. For more information, please visit IndustryBuying.com

Google announced the most searched for Indian Cinema stars over the last 10 years. These stars are the actors, actresses, directors, musicians and movies that have inspired the most digital curiosity in India between 2006-2016.

Salman Khan and Sunny Leone took out the top spots for the most searched-for Bollywood actor and actress in the last 10 years, Honey Singh and Prabhu Deva were the top singer and Director, while Amitabh Bachchan and Rekha were the most searched for classic actor and actress.

Sapna Chadha, Google India’s Marketing Head said

Indians have been turning to the web to find out more about their favorite stars for over a decade now and we have been evolving Google Search to give them richer, better answers. With around 1 in 10 mobile searches in India related to Indian cinema, we recently launched a range of immersive Search experiences that give film lovers an easy way to discover and explore everything they want to know about their favorite movies, stars, music, dialogues actors and more

Now when you ask Google questions about films, actors, song lyrics, film trivia, trailers, screening times and more, you’ll get rich, contextual answers.  For example try asking Google What films has Prabhu Deva directed? or Who starred in the film Hero” and Google Search now shows rich, contextual answers.

These Search experiences were highlighted at an event in Mumbai featuring Director Karan Johar – the second most searched for director in the last 10 years — where Google launched a  video tribute to Indian cinema.

DigitalOcean, provider of the cloud computing platform designed for developers, today released Block Storage, the number one product request from customers. Block Storage is a highly available and scalable SSD-based offering that will enable developers to easily attach extra disk space to DigitalOcean Droplets [cloud servers]. DigitalOcean’s Block Storage costs $0.10/GB per month and is based on provisioned capacity only, therefore there is no need for complicated formulas to determine the overall cost for transactions or IOPs limit.

DigitalOcean was founded in 2011 with the mission to simplify the complexities of infrastructure by offering one simple and robust platform for developers to easily launch and scale their applications. The company has taken a “developer first” mentality and is now evolving its platform to further support the business needs of the developer. DigitalOcean has become the second largest and fastest growing cloud computing platform in the total number of public facing apps and websites, according to Netcraft. More than 700,000 registered customers have launched more than 18 million Droplets combined on DigitalOcean, nearly doubling from 10 million six months ago.

Ben Uretsky, co-founder and CEO, DigitalOcean said

We set out on a mission to build a simple and robust cloud computing platform so that engineering teams can spend less time configuring and automating their infrastructure and more time focused on software development. By adding a highly performant Block Storage offering to our platform, developers can easily deploy and manage their SaaS applications and businesses as they scale. This is one step closer to building the next generation platform.

The Easiest Way for Developers to Attach & Scale Storage to Support Their Businesses

Block Storage is a complementary product to DigitalOcean’s Droplets, which provide compute power and local storage, by making them more expandable and flexible. By attaching Block Storage to DigitalOcean Droplets via the control panel or API, developers can achieve the following benefits:

  • High Availability: Block Storage stores data on hardware that is separated from the Droplet, replicating it multiple times across different racks and reducing the chances of data loss in the event of hardware failure.
  • Scalable and Flexible: Developers can easily scale and resize SSD-based Block Storage volumes from 1GB to 16TB and move it between Droplets. The ability to attach extra Block Storage to Droplets dramatically increases their flexibility, enabling developers to scale applications, databases, binary assets, shared and distributed filesystems and more.
  • Reliable and Secure: All the data is encrypted at rest and transmitted to the Droplets over isolated networks.

Additional Resources

About DigitalOcean

DigitalOcean is a cloud infrastructure provider focused on simplifying web infrastructure for software developers. The company is headquartered in New York City with data-centers throughout the world. For more information, please visit DigitalOcean

ITC Infotech, a global scale full service provider of technology solutions announced the second edition of its annual technology innovation & co-creation platform iTech 2016. The event will take place at the ITC Infotech campus in Bangalore on 16th and 17th of July, 2016.

Image Source* – iTech 2016

Marking a first this year, iTech 2016 will introduce a new segment called Showcase, a unique platform designed to connect technology startups and their solutions directly to business users. As a part of ‘Showcase’, shortlisted startups will get the opportunity to interact with business leaders & technocrats, and demonstrate their solution to them. As a system integrator, ITC Infotech may partner and invest in helping startups further develop their solution, create a joint go-to-market and provide wider market access.

Another key feature this year is the 2-day hackathon on Augmented Reality/Virtual Reality [AR/VR], aimed at startups, professional developers and students. The hackathon will be a 30-hour prototype building contest that will address crowd-sourced business challenges from ITC businesses and ITC Infotech’s global customers. Participants for the AR/VR Hackathon, perceived to be the technology of the future, can present their ideas across any of the following challenge areas:

  • Manufacturing – Solutions to guide on the correct course of action, change plant & equipment maintenance process, while saving time and money, or enhance training material, quality control and related areas.
  • Consumer Goods – Create an immersive experience and transform the way consumers interact with products in store.
  • Retail – Enhance customer experience in online and offline shopping. Solutions to create virtual trial room or virtual fashion shows to present the new season and line.
  • Hospitality – Entries should present solutions designed to revolutionize the way guests experience the hotel property, its amenities, deals & offers and other information.
  • Education & Stationery Products – Entries should use AR/VR technologies to pique children’s interest in academic material, enhance learning with interactive puzzles and simplify understanding of ‘how things work’.
  • Banking, Financial Services & Insurance – Solutions to make processes easier and radically improve customer experience.
  • Agriculture – Create a thriving ecosystem with intelligent pest management & control solutions. Guide farmers and farm workers in planning usage of fertilizers, pesticides and irrigation schedules for different crops and crop cycles.

Ms. Sushma Rajagopalan, MD & CEO, ITC Infotech, said

Technology today is aiding transformational shifts in the ways business, governments, and societies function. Inventive technological thinking, married to agile decision making is critical to respond swiftly to the needs of business and society. With iTech 2016, we are bringing a unique opportunity to bright young technologists to showcase their design thinking and technology ideas, while interacting closely with the vibrant ecosystem of entrepreneurs and business leaders of the future.

With the immense success of IoT Hackathon at iTech 2015, ITC Infotech is geared up to offer best-in-class experience through iTech 2016, which will in turn allow participants to race against time and showcase path-breaking solutions which are market ready. The winners, first runners up and second runners up will be awarded a cash prize of INR. 3,00,000, INR. 2,00,000 and INR. 1, 00,000 respectively.

About iTech 2016
iTech, an ITC Infotech initiative, is an annual technology innovation platform. The platform will focus on leveraging emerging and disruptive technologies to create business-ready solutions, for addressing some of the most challenging problems faced by the industry. For more information, please visit http://www.itcinfotech.com/iTech

Being a Mumbaikar, I really love local food especially Vada Pav but when I moved to Bengaluru; I missed it a lot 🙂 In Bengaluru, I found love in Idli Dosa, 99 Dosas etc. The best thing about India is that each city has it’s own uniqueness especially Local food. If you are a visitor to any city, you would have definitely wished to have “Famous Dishes” from local food joint 🙂 If you have any friend in that city, (s)he can guide you but if you are on your own, you have no option left – But to explore !!!

This is the gap ‘”Exploring local Food across India” that Bengaluru based startup – TalkingStreet is trying to address. It is part of the NASSCOM 10,000 Startups & is based out of the NASSCOM warehouse. Today, we have a chat with Maheima Kapur [Founder & CEO of TalkingStreet] about her entrepreneurial journey, Marketing, NASSCOM 10K startups etc. So, let’s get going with the Q&A…

[PS :  I in the article refers to Maheima Kapur]

Can you give a small background about yourself, your start-up and it’s founders ?

Local / Street Food is an important aspect of the culture of a city. It is something that interests many people. Travelers, local residents, foodies are all excited at the idea of sampling local food across the city, provided they are pointed to it by someone they trust. However, discovering popular street-side eateries and vendors is impossible without a local guide.

Talking Street is the local foodie friend that all traveling foodies wish they had in a city. The platform curates & showcases the best of popular, local eateries, so that foodies can hyper-locally discover delicious local food around where they are. This includes very popular eateries in cities as well as street food hangouts recommended by foodie contributors.

It offers self-guided food tours and organizes food events to bring popular food, stall owners and foodies together. An example is below

Talking Street is a sole founder startup. I have around 9 years of work experience across different FMCG organizations. I am a Physics graduate from Sri Satya Sai University and an MBA from IIM Bangalore. My core area of expertise and interest is consumer insights and marketing mix development.

The core team @ Talking Street consists of Naganand Doraswamy and Siddharth Mathur, apart from me. Naganand Doraswamy is a mentor to the startup. He has around 25 years of experience and is president of TiE Bangalore. He is Co-founder and EVP of SPAN.

Siddharth is the Technical Advisor to Talking Street. He is the founder of Fastah, an app with a mission to make mobile internet more fun and enjoyable.

Talking Street is a lean startup. We work largely with consultants and interns. Here are some more details about the team that has made this startup a reality https://talkingstreet.in/meet-the-team/

How different is Talking Street different from other food-tech companies like Zomato etc. ?

At Talking Street our attempt is to help travelers experience the food culture of different cities by helping them eat at the most popular local eateries. So we take the help of foodies to map and share the most famous local eateries across cities. (It’s not just street food but popular eateries, which are often a mix of small eateries, iconic outlets as well as street food stalls).

Zomato is a listing platform, whereas as Talking Street is curated. We ensure that all the eateries on Talking Street are popular, hygienic and highly recommended by local foodies. Also, we don’t cover fine dine restaurants. To give you an example, there is a small eatery in Gandhinagar (in Bengaluru) who makes very good bhajji’s / pakoras (and is doing so for the last 20 years); you would probably not find it on Zomato but on Talking Street, eateries such as these are what we strive to list. Hence, Zomato offers a different value proposition as compared to Talking Street.

In out attempt to help users experience the food culture of a city, we like to cover eateries by including the stories of the people behind them. That adds hugely to the way people experience the food and understand the underlying cultural nuances.

Also, when we say that we are a curated platform, we do not list each & every local eatery on the platform. Only those outlets which meet our criteria are listed. The focus, is thus, on ensuring that our users have a superlative food experience whichever outlet they pick.

Is Talking Street bootstrapped, VC funded or Angel Funded ?

We are completely bootstrapped. We plan to go slow and build TalkingStreet organically 🙂 When time is right, we would definitely look out for funding but the current priority is on building the best experience for TalkingStreet users.

Talking Street is more about Local Food Exploration, so is it an aggregator of vendors who have fixed shop ?

We cover local eateries that make awesome food. We are aware that many of them do not have fixed locations but we track them. In case the vendor moves to a different location, we update his where-about on TalkingStreet.

You can refer this link to get more insights on how we choose the right vendors. Would like to share this video that gives more insights into the entire process.

Currently Talking Street is operational in how many cities in India ?

We have covered major part of Bengaluru. Though we are covering Mumbai, Kolkata, Jaipur etc., we are constantly adding joints to our respective city database. We are also open for suggestions of places from Foodies since they have the right taste buds and know-how about the food joint.

When someone suggests a place, we do not directly list them but our team checks on all the parameters like food, food quality etc. before listing them. We are also working on TalkingStreet mobile app that would be very useful in such scenarios.

How many vendors/joints have signed up with Talking Street & is there any sign-up fee for the vendor ?

We have more than 500+ joints present on TalkingStreet. There is no sign-up fee for the vendors. If the vendor makes awesome food that is loved by foodies, they definitely deserve a place on our platform.

Can you throw light on the revenue model of Talking Street [Free/Freemium etc] ?

Right now, we can skip this question 🙂

Any plan/tentative deadline to release the mobile app of Talking Street ?

We are working on the app and it should be there on the Store soon. Cannot comment on the deadline at this very moment 🙂

What are the major changes that you experienced when you became an entrepreneur ?

  • The need to manage and stretch time. There’s just never enough time in a day to get everything that needs to be done, completed.
  • The buck stops here. Everything stops at the founder. If something has to be done, I’ve got to do it. It’s especially stark with solo founders. In a bigger organization the responsibilities are divided.
  • There goes my work-life balance. I believed in a sharp work-life balance and avoided carrying work on my mind when I was away from my laptop. That changed significantly with entrepreneurship. I’ve often caught myself being totally wired into work over weekends, holidays, days-off. It’s not something I like and I’m working to change that.
  • Holidays have become work-actions – there’s always something to cover or research for Talking Street when I travel and while it’s fun for the most part of it, there are times when it’s like work following you even on a vacation 🙂

How much has NASSCOM 10K helped in accelerating your startup journey ?

NASSCOM 10,000 startups has been an amazing experience. Right from the very helpful startup kit that they give all the shortlisted companies, to the co-working space with all the startups who are ready to help at short notice. The NASSCOM team is super helpful at all times – they make huge efforts to connect the startups to relevant mentors, investors and experts. They also help the startups with media outreach and PR.

What are your key advice(s) to people who want to start-up ?

  • Be clear about why you want to startup. A startup is hard work and while it might look glamorous from the outside, it’s actually far less shiny once you’re in. It calls for a high degree of commitment and perseverance. So be sure of why you want to do it. You see your idea solving a huge pain for users, you want to make an impact with your product, create jobs, want to build a large organization, want to be independent – know your reasons and recall them ever so often on your journey. Your reasons will guide you on whether to apply for funding or whether you should bootstrap, on what you should build and how you should build it.
  • Research your idea/concept before deciding taking the plunge. Make sure that there is a need and that someone will pay for what you are planning to build, at some point. Too often we startup without doing the necessary ground work to ascertain the need/use case for what we are creating. Doing the work required on understanding the user and his problem (for which you intend to solve) will help you understand whether that problem exists, whether it is important enough to solve and if yes, what is the route to solving it.
  • Enjoy the journey. Yes there’s a destination but it is going to be a tough, uphill climb getting there so there’s no point unless you are having fun along the way.

Importance & Role of mentor in any startup

Very important since a mentor is able to approach the business from a distance and thus sees things differently from the founder(s) who are right in the middle of it all. So (s)he brings an objective perspective to the business and growth. A mentor also brings deep knowledge of the ecosystem and thus is able to kick-start thought processes which aid decision making. My mentor gives me the space to chart a route that works for me while being very firm on the business deliverables. Conversations with him help me think clearly. He also holds me to the metrics that we lay down and it helps to have someone ask the tough questions, as he puts it.

Can you give some pointers on Scaling Up and Customer Acquisition ?

Businesses need to be very careful about scaling up. Technical products which scale easily without much physical infrastructure or manpower are different from businesses which require people and infrastructure to scaleEnsuring a delightful user experience has to be the key concern while taking scaling decisions. That means hiring the right people and making the required investments in process and infrastructure, both of which take time. Hence a 6 month, multi-city operation expansion can only lead to trouble, in my opinion.

There have been many examples of organizations needing to scale back or having to close down altogether in the last 6 months, because they scaled too fast in this mad rush to get more users. Getting more users cannot come at the cost of delivering a poor experience.

Some hiring tips for entrepreneurs [especially the core team] ?

Find people who have a high degree of commitment. It helps to have a team which doesn’t need supervision because they are as motivated as you are. For the core team, get people who share your values and vision, in addition to commitment. Teams break up and startups slow down or close because the core team does not see eye to eye. A deep trust and compatibility will always make journey interesting even in the tough patches.

Seed/Bootstrapped/VC funding ? Your thoughts on the same.

Bootstrap as far as you can go. Build an MVP and get to a stage of having a few paying customers. Then look for funding to scale faster. Funding at earlier stages comes at terms which need not be favourable and will bring unnecessary stress.

Any parting words from you for budding entrepreneurs ?

  • Do live research with users at every step so that you spend time on the right aspects of the business/product.
  • Be firm in your belief and plough on, the road will emerge. Keep your burn low so that your runway is long and you can sustain yourself even if the product takes time to blossom.
  • Entrepreneurship is like an accelerated road to self-discovery. It brings out traits that we often didn’t think we possess – both positive and negative. In my case it has helped me become more aware of my insecurities and failings

We hope that you enjoyed the Q&A since it had lot of learning for aspiring entrepreneurs. If you have any questions for Maehima or the TalkingStreet team, please leave them in the comments section. Do give TalkingStreet a spin and leave your feedback here or email it at hello@talkingstreet.in