Tag: Startups

Kickstarter Launches India Operations With Amazon And HAX

Kickstarter, one of the largest crowdfunding platform in the world is entering India in association with Amazon Launchpad and HAX. Together, the three global entities will launch Startup C-Cube, a multi-level challenge for Indian start-ups that flags off in Bangalore on the 5th of December 2017.

HAX is a hardware accelerator that invests in select startups in their early stages and provides guidance and resources in exchange for equity. Kickstarter is a platform for entrepreneurs to showcase their products and start a crowdfunding program. Amazon Launchpad is a global program that curates, showcases and delivers all kinds of products from startups to Amazon customers.

Amazon Launchpad In India

The Startup C-Cube challenge will be officially flagged off by Amazon Launchpad, HAX and Kickstarter at an event in Bangalore on the 5th of December. This will also mark Amazon Launchpad’s one year anniversary in the Indian market. The winning start-up will be supported by the three companies through the entire “concept-to-customer” journey and the joint program will also provide resources to the winner for launch, both in India and in Europe/US, depending on the scalability of the idea.

Manish Tiwary, VP of Category Management at Amazon India said:

Business growth of some of the start-ups on Amazon Launchpad has elicited interest in these start-ups from VCs as well as other funding agencies in the last one year.

We are very happy to bring Kickstarter and HAX to India to give Indian start-ups an opportunity to get their ideas noticed at the global stage and arm them with resources to convert these into real business opportunities.

If you think you have the idea and the planning to win The Startup C-Cube challenge, then you can enter the competition by clicking here.

November 27, 2017

Union Budget 2016 : What to Expect

With the Union Budget 2016 hardly days away, the nation’s eyes are on the Finance Minister Arun Jaitley’s suitcase which holds in itself the blueprint of the plan which will not only affect big Multi National firms and small startup companies but each and everyone of us.

From IT firms, automobile manufacturers to mobile phone makers, everyone has their wish lists set that will help them grow in this vibrant and growing market that India is right now, but what about the average tech-loving citizen that you and me represent? Let’s take a look at what the budget holds for tech addicts like you and me.

Allocation of resources for improving existing telecom and Broadband Infrastructure

We might have access to fancy 4G phones, and expensive computers in our country, but what good is it if there isn’t a proper infrastructure at the service providers end to run these devices the way they should? But the government wants to change all that with the upcoming Union Budget 2016.

Call drops, and slow broadband connections could soon become a thing of the past with the government looking to substantially invest in improving the infrastructure in the coming year. The Telecom ministry has a proposal to allocate Rs.7,350 crore to Universal Obligation Fund which focuses on increasing infrastructure across the country.

Push for Startups and Entrepreneurs

With the push by the government towards the ‘Start Up India, Stand Up India’ initiative, we may see more tax breaks, concessions and budget allocation towards developing the infrastructure and skills to encourage entrepreneurship in the country.

According to analysts, the Government is likely to raise the Service Tax exemption bar for Small & Medium Businesses. The service tax limit is expected to be raised to Rs 25 lakh from the current Rs 10 lakh. The moves will mark a significant advance in ease of doing business and pave the way for the growth of young entrepreneurs and startups across the nation.

Apart from this, Startups could also enjoy benefits in the form of exemption from paying income tax for the first three years and a massive 80% rebate on filing a patent application.

Hike in VAT and Sales Tax

With the shadow of the Goods and Service Tax(GST) which will subsume all other indirect taxes under it looming large over the economy, the government with the new budget will look towards a new round of tax hikes to bring all indirect taxes such as VAT and Sales Tax as close to the 17.5% rate of GST.

Though this move is good for fiscal consolidation, and will most likely not last for over a year, this increase in the tax rate could make products such as mobiles, laptops, cameras etc significantly more expensive and as a result, hamper consumer demand.

Subsidy to See Cars/Mobiles Get more Affordable

With the government pushing for its pet project, the ” Make in India” Campaign, a number of new companies are expected to start rolling out mobile phones, automobiles and other consumer durables which will cost significantly less because of tax exemptions they will enjoy under the Make in India program. The companies are expected to trickle down the benefit that they enjoy from the governments end to help provide products to the end consumer at more affordable price points.

Subsidy on smartphones budget smartphones can also be expected which will further help the government in connecting the far reaches of the country to the big cities. As it stands, Tier 2 and 3 cities in the country thrive on these devices and increasing smartphone reach through such tax reductions will only help the whole growing smartphone ecosystem in the country.

Union Budget 2016	What to Expect
Telecom and Broadband Infrastructure	Proposal to allocate Rs.7,350 crore to Universal Obligation Fund to improve infrastructure.
Startups and Entrepreneurs	Service tax limit expected to be raised to Rs 25 lakh. Exemption from paying income tax for the first three years. Massive 80% rebate on filing a patent application
VAT & Sales Tax	Major Hike in taxes from their respective rates closer to the 17.5% of GST. To affect prices of mobile phones, cars, and consumer goods directly.
Tax exemption on Manufacturing	Subsidy on products to increase under the “Make in India” program. Will see Cars/Mobiles Get more Affordable in the coming year.

February 26, 2016

Xiaomi Plans to Invest in More Than a 100 Start-ups

Chinese electronics giant Xiaomi, which was once a start-up, has now grown to become the third largest consumer electronics firm in the world. It has gained a foothold in its home market as well as the native markets of other renowned electronics titans. The tech major is working towards turning every budding business into an empire.

According to a recent report, Xiaomi is betting on emerging businesses to help them copy the growth model of the company. The CEO of Xiaomi has announced that the company plans to invest in hundred startups to help them financially. This step is in accordance with the earlier move to back 20 startups that has shown productive outcomes.

Lei Jun commented about its plan that Xiaomi’s strategy is to enable the company into an “ecosystem empire” with major focus on software firms. He further stated –

We plan to move full steam ahead in its quest to become an ecosystem empire.

Investing in software firms would help Xiaomi link anything; consequentially aiding its product portfolio expansion.

Recently Xiaomi’s backed robotics manufacturer Ninebot acquired Segway. The buyout seized the attention of the industry-watchers as a small industry is expanding rapidly, but more than that, it was a call for big celebration for Xiaomi. Late last year, Xiaomi became the world’s most valuable technology start-up after gaining $1.1 billion from investors.

Xiaomi has made use of its small associates and has launched a bunch of smart products such as air purifiers, smart bulbs, smart televisions, etc. With its new approach to software firms, we may soon hear of some unconventional innovations amongst their smartphones.

Meanwhile, Xiaomi has shown significant interest in the Indian market. It has announced to establish a physical warehouse and an R&D center in Southern parts of India.

April 20, 2015
Startup Incubators: The Force Behind the Next Big Entrepreneurs

Startup is one of the buzz words of our technological age. These tiny initiatives by young and the old have become the cradle of innovation. Every other day, we hear the news of a startup acquired by a big brand to engulf their innovative creations into their systems. Giants like Google, Facebook, Microsoft and Apple are always on the lookout for a start-up with a unique offering. The buzz has also led to a successful show called ‘Silicon Valley,’ which delves into the inner workings of the Silicon Valley’s bloodsport of the startup game. India with its massive technologically trained professionals is untouched by this revolution and many incubators have come up which provide the assistance to the budding entrepreneurs to create the next big thing.

We decided to look into the world of startup incubators and who would be the right option for you, if you have an idea that can change the world. Here are a select few which are spearheading the startup revolution in India.

Startup Village, Kochi:

Probably the most prominent of all, the Startup Village began offering its services in 2012. It is a non-profit business incubator which works towards providing assistance to budding entrepreneurs in the form of office space, hosting services, business guidance and even provide legal services. The business incubator plans to set up over 1000 start-ups over the coming decade.

Startup Village is supported by public and private investments. Along with the Kerala government, the village also offers an all expense paid trip to the US for select young entrepreneurs. They provide seed fund and Angel fund to startups. The primary focus of the incubator is student startups and telecom innovations. Setting up your startup at the Village will also lets you use the office spaces, high-speed internet and interactions with like-minded entrepreneurs who are working towards the next-generation innovations.

Khosla Labs, Banglore:

Vinod Khosla, the co-founder Sun Microsystems, partnered with Srikanth Nadhamuni to form Khosla Labs in 2012. The incubator works in the fields of mobile payments and banking, retail efficiency, healthcare delivery and big data analysis. Khosla Labs team of entrepreneurs comes up with several ideas to test and experiment. These projects get prototyped through in-house design and technology teams. These prototypes are then pilot tested on the ground to get feedback and market validation. Based on the feedback, Khosla Labs provides seed money, and the project becomes a spin-off venture under an entrepreneur in residence (EIR) at the labs.

Start up! New Delhi:

If your goal is to change the world through societal developments, then there is an incubator for you too. Start up! is an Angel investor, incubator and consultants for social entrepreneurs. A lot of folks have understood the limitations of dependency on government for active social change. Hence, many are working towards setting up their own social enterprises to bring about ground level sustainable developments. It assists the budding social ventures by training them in business practices and with the help of its networks, helps to scale up these ventures. Start up! has aided many ventures to grow from thought to reality. They have helped social ventures in a variety of fields like healthcare, education, the disability sector and even helped to form collaborative workspaces for freelancers and creative professionals.

Start Up! also offers fellowships to students and young social entrepreneurs to work with their clients and learn by getting their hands dirty in the field.

Amity Innovation Incubator, Noida:

Amity is one of the top league private education institutes in India. Its innovation incubator is supported by DST, Ministry of Science & Technology, Government of India. It is registered as a not-for-profit organisation, and it brings together industrialists, venture capitalists, technical specialists and managers to help entrepreneurs realise their dreams.

Through its virtual incubation initiative, the company offers support to startups that cannot access the Amity campus physically. Apart from the barrage of essential services, the company also offers server spaces to its incubates. It also lets the incubates hire interns from their massive student base.

Seedfund, Delhi, Mumbai, Banglore

Started in 2006, Seedfund has established some of the big name brands on the internet sphere. Brands like Redbus and Carwale began as hatchlings at Seedfund. It has invested in over 31 companies and is continuing to provide its services to more who arrive. Seedfund assists you in the micro sense, like choosing your logo to the macro business models for your company.

With so many options available to you, there is nothing stopping you from making your ideas big except your own procrastination. If you think you have the next big billion-dollar idea, then get in the game and get making, the future belongs to the creators.

December 3, 2014
Indian Students Create a Solar Powered Fridge That Can Be a Boon to Farmers

India has been facing a huge food inflation issue. Food prices are hefty and are really hitting pockets hard. One of the major issues with food supply is storage. Even with massive investment in food storage by the government, issues arise which leads to a tremendous amount of spoilage. It is estimated that India loses around 30 per cent of food production every year due to wastage and contamination, which is a huge concern. To address the wastage issue, students of IIT Kharagpur have developed a micro cold storage system has been successfully tested in a Karnataka farmland.

The device has been developed at Science and Technology entrepreneurship Park (STEP) of the IIT. It is made by mechanical engineering student Vivek Pandey and his team. They call their start-up, Ecofrost Technologies. The team is now ready to move out of campus and set up a manufacturing and assembly unit in Pune by next month.

Presently food storage requires a lot of energy and causes wastage by decay.

According to Vivek Pandey it is a one of a kind device with no running costs to the farmer and works for all the 12 months of the year.

The cold storage system makes use of an exclusive thermal storage methodology. This technique controls the cooling of compartments in tandem with regular cooling. The system is powered using a 2.5 KW- 3.5 KW solar panel. The power generated through these panels is stored in a thermal storage unit that can power the system for more than 36 hours, in case of bad weather. The compressor in this device can run at various speeds depending on the need of cooling.

The team wants to make this an off-grid device which means it should require no electricity from the grid. This will be great for farmers living in far off villages with limited facilities to sell their produce. They believe that by increasing the shelf life of agriculture produce, farmers’ livelihood would improve by reducing losses and allowing better price realization.

Being an agricultural equipment, the micro cold storage system has a capacity of 5 metric tonnes. It comes for a price of Rs 5 to 6 lakhs, about the price of a tractor.

The team targets to manufacture 20,000 such cold storage units in the next five years. The have also won the first prize worth Rs 10 lakh at the national university competition ‘DuPont: The Power of Shunya.’

This is a great new product and if will be economical for farmers as their fresh produce will fetch a higher price. They wouldn’t even have to worry about spoilage or energy costs. It is great to know that they are ready to manufacture the device that will hopefully generate interest in the field and will invite more people to join the untapped solar innovation market. This also has the potential to make headway in the wholesale market thereby saving food products and bringing fresh produce to many more people. We wish these fine young lads all the best for their endeavors.

September 23, 2014