Tiger Global invests BYJU’s $200 million; the value jumps to $8 billion
The investment will increase the valuation of India’s third-largest startup by around 45% to around $8 billion.
The company is on track to double its revenue in the current financial year to about ₹3,000 crores, Raveendran says.
Tiger Global Fund, based in New York, will invest $200 million in Think and Learn Pvt. Ltd, the learning technology firm owned and operated by Byju’s learning app, the startup said on Thursday. The investment will raise the valuation of India’s third-largest startup by about 45 percent to about $8 billion, according to a person familiar with the matter.
The latest investment from Tiger Global is stand-alone financing, unlike previous rounds when multiple investors bought into Byju’s together. Its last funding round saw an infusion of $150 million led by the Qatar Investment Authority in July last year, the above-mentioned person said on anonymity condition.
Byju’s has raised approximately $995 million from investors like Naspers, Tencent, Verlinvest, Chan-Zuckerberg Initiative, Sequoia Capital, Lightspeed Venture Partners, and Aarin Capital since its founding in 2011.
“We are delighted to partner with a powerful Tiger Global Management investor. They share our sense of purpose and this partnership will accelerate our long-term dream of making an impact by changing the way students learn,” said in a statement founder & CEO Byju Raveendran.
Tiger Global is one of the most active investors in consumer internet space and has supported around 14 companies in India till date.
The investment firm has also begun to focus on the Business-to-Business (B2B) segment and has recently invested $90 million in Ninjacart’s agri-tech startup. It has also invested in companies like NestAway, Grofers, and Razorpay payment company.
Raveendran, a former school teacher, was one of the early entrants when he started the company into the online learning space in India. Byju’s learning apps offer kindergarten-wide programs for high school students.
The company’s apps target students for a variety of programs including competitive exams such as the Common Aptitude Test and the Indian Administrative Services entrance. The cost of such online courses ranges from ₹5,000 to ₹100,000.
Its registered users have risen to 42 million, while it has another 3 million paid subscribers, a level that, according to industry officials, will allow the company and its subsidiaries to break into profits early
Byju’s says that in the financial year ended March it turned profitable, with revenue tripling year-on-year to a crore of ₹1,480. However, the company still recorded a net loss of some ₹15 crores in FY19, including its subsidiaries, compared to a loss of some ₹37 crores in the previous fiscal year.
Founder Raveendran said the company is on track to double its revenue in the current financial year to about ₹3,000 crores and is working on Indian language programs to make it accessible to learners in smaller towns. Additionally, in the coming months, the startup will launch’ Byju’s Online Tutoring.’
The company faces a number of challenges despite its positive track record, an analyst said.
“The biggest issue facing Byju’s is customer acquisition and customer retention,” said Sanchit Vir Gogia, analyst and chief executive officer at Greyhound Research.
“While there may be an increasing number of registered users, the percentage of renewals is significant. Most learners have a tendency to drop out,” said Gogia.
“Secondly, the content assumes a certain knowledge standard, so it is necessary to improve the applicability of the content,” added Gogia. “For example, the level of all students in the sixth grade may not be the same, but the content is standard.”
Byju’s need to enhance student engagement as it “has not figured out individual learning paths,” the analyst said.
Scott Schlifer, Tiger Global’s partner, said the firm is optimistic about the company as it “has emerged as the leader in the Indian education technology sector” and is “pioneering technology that shapes the future of learning for millions of school students in India.”
According to the government-backed India Brand Equity Foundation, India’s online learning market is expected to double to $5.7 billion by 2020.
This year Huawei’s revenue has broken all the records and made $122B. Huawei announced resilient revenue for 2019 on Tuesday as the embattled Chinese technology group continues to grow despite America’s prolonged campaign against its business, but cautioned that next year’s growth could prove more challenging.
In a New Year’s message to employees, Eric Xu, Huawei’s rotating chairman, wrote that the Huawei’s revenue this year stood at 850 billion Chinese yuan ($122 billion), a new record high for the Chinese group and an 18% rise over the previous year.
Xu said Huawei, the world’s second-largest smartphone manufacturer, sold 240 million phones this year, up from last year’s 206 million.
“These statistics are smaller than our initial estimates, but business remains solid, and we face adversity strongly,” he wrote.
He acknowledged that the U.S. government is facing a “strategic and long-term” campaign against its sector. If the campaign lasts for a long time, “survive and thrive,” he said, would create even more “difficult” atmosphere for the 32-year-old company.
Survival would be the first priority for the company in 2020, he said.
The U.S. added Huawei to this year’s trade blacklist from the Commerce Department and placed new restrictions on its ability to sell and maintain business relationships with American companies. The U.S. government has also warned its partners not to use Huawei products to develop their communications network infrastructure for the next generation, arguing that the Chinese company poses a threat to national security.
U.S. Secretary of Commerce Wilbur Ross said at a conference in New Delhi in October that he hopes that India, the world’s second-largest telecommunications market, “does not accidentally present an undesirable security risk” by using Huawei’s 5 G equipment.
But not all U.S. partners listened to his counsel. Huawei achieved a major victory in India on Monday, which accepted Huawei’s request to take part in 5G spectrum trials.
“We thank the Indian government for their continued belief in Huawei,” said in a statement Jay Chen, India CEO of the company. “We firmly believe that the key to rejuvenating the Indian telecom industry will be only technological innovations and high-quality networks,” he added.
Trello is one of the well-known tools available on the market today for Kanban project management. It offers a free version. But if you need additional features or integrations that don’t come with a free version, you’ll have to pay for those “Power-Ups.” So we can prepare the list of best Trello alternative project management software, you can discover and compare according to your business requirement.
Before you sign up for something that doesn’t really serve your needs, it pays to look at alternatives to Trello. There are plenty of competitors are available on the market for Trello.
Let’s take a closer look at Trello, its Kanban system, and the best alternative Trello Kanban apps on the market.
Trello is a Kanban-based collaborative software. It helps you with cards on boards to handle tasks. It is renowned for being highly user-friendly, allowing users to start in just a few minutes and offering tools and functionality that are straightforward, easily understood.
Trello used for:
Workflow Management and Automation
Product Planning and Roadmapping
Website and Blog management
Organizing files or digital collections
Hiring and Onboarding employees
Storing and Sharing files
Is Trello open source? Trello is a SaaS source that is open. Trello-like open source alternatives include Restyaboard, Taiga, Kanboard, Wekan, and TaskBoard.
Cost of Trello
Trello offers a free, usable lifetime plan
Business Class plans – $9.99/user / month
Enterprise plans – $20.83/user / month for 100 users
The price decreases with more users (Trello Enterprise plans cost $5.92/user/month with 5,000 users).
Is there a Trello Windows app?
Trello project management software works on all web and mobile phones, offering Android and iOS mobile apps as well as iOS and Windows desktop apps.
Is Trello based on Kanban?
Trello collaborative software is based on the Kanban method, using Kanban boards, cards, and swimlane structures that are typical of the Kanban method.
What Is Kanban?
Kanban is a method of project management and workflow based on a work management system developed in the 1960s at Toyota production facilities. The Kanban method allows you to minimize multitasking, streamline your progress efficiency work, and improve the speed and quality of the work that your team produces.
What Makes A Great Kanban Tool?
You can focus on your priorities with the right Kanban board software, keep your team in the loop about what’s going on and what’s coming up, and you can control a steady workflow, especially in output-heavy environments such as production, agencies, support and maintenance.
Kanban software is often used to manage agile development, thanks to swimlanes, activity streams, charts, cards and a range of features that help you visualize and manage your workflow.
For this analysis, I evaluated Trello’s best alternatives, using this simple Kanban tool criterion to rate each software:
User Interface: Most apps like Trello look like Trello with a clean, easy-to-understand interface. However, I give higher scores to tools that offer the most beautiful UI.
Usability: I looked at the simplicity of training and mastering the code. To be honest, with such simple workflow apps, the competition is pretty fierce. Inherently, the Kanban method is simple and intuitive — and fortunately, most of the software is also. I therefore give priority to tools that go the extra mile in terms of usability: offer training resources, templates, and videos that help you to easily immobilize yourself.
Features & Functionality:
Kanban board: organize your cards with work-in-progress limits, swimlanes, sub-columns, “to-do”, “in progress” and “done” column categories, tasks with checklists, attachments, multiple members and time tracking.
Kanban cards: Assign checklist and attachment tasks, provide different views, the ability to link tasks, add task hierarchy to help define cards in cards and assign resources, and provide templates for Kanban cards.
Analytics and Reports: pull and create reports.
Automation, Business rules, and IFTTT: customize the workflow to suit your environment.
Integrations: If you’re using Trello for project management and you’re looking for an alternative, if you’re using it, you’ll probably want something that integrates with Google Apps (Calendar, Google Drive) and/or time tracking software. I factor in the integrations that are most frequently needed when evaluating the tools.
Value for $: I use the Trello value as a yardstick for calculating other devices at $9.99/user / month. Do they offer more value for the same price or less? I also provide higher scores for transparent, clear and flexible pricing tools.
Best Kanban Software (Trello Alternative) available in the market are
Restyaboard (Winner & Our Choice)
Great alternative to Trello for development teams that want a tool built to work directly in the GitHub environment.
ZenHub is designed to work in a GitHub environment and is promoted as such as a way for GitHub-based teams to manage tasks without interrupting their workflow.
ZenHub is a user-friendly and workable alternative to Trello, with data migration, automation of workflows, and integration with other tools.
ZenHub is the sensible choice if you are using GitHub. Not only is it likely to be familiar with your developers, it can save your team a lot of time theoretically by eliminating the need to jump in and out of GitHub in order to manage tasks in third party tools.
Zenhub costs $5/user / month and is available for 14 days in a free trial version.
9. Clarizen Go
Fully functional, flexible PM tool that can be easily configured to support kanban and agile methods
Clarizen Go is an automation software platform for enterprise-grade professional services. Even though it’s not just a Kanban panel, I’m thinking about this tool because it’s a good choice if the reason you’re looking for an alternative to Trello is because you want something tougher. Using Clarizen Go can remove the need for a handful of tools and may help better manage a wider range of your business processes than Trello would.
The real focus of Clarizen Go is to make projects happen more quickly with time-saving workflows. It’s a great project management tool if you have lots of repeatable projects that require repeatable processes because the automation of the workflow is quite flexible and powerful.
It covers, without breaking a sweat, the PPM basics of task lists, schedules, docs and files, communications and reporting. The project planning tools of Clarizen Go are a powerful combination of usability throughout the project planning, implementation and control. Project workflows, a full-featured database, schedule and task management tools are included in scheduling, with project and portfolio optimization so you can easily and quickly match projects with business goals.
For project execution, Clarizen Go helps everyone on the team to be matched with a dashboard that enables teams to work together and see how their input fits into the larger picture – from project schedule and goals to plan, project discussions, and report sharing.
Instead of making educated guesses, project managers can make accurate data-based decisions that align project selection and investment with major picture priorities. It takes a few clicks to change tasks and schedules, and project managers may run hypothetical scenarios to proactively see the effect of resource changes before they go live and alert end users to any changes to their workload through their personal dashboard. Clarizen Go provides real-time insights into all available resources, schedules and tasks because resource scheduling is built-in.
Clarizen Go has some really strong integration solutions out of the box that should be considered if you already have other business-critical systems in place. You can combine Clarizen Go’s power with other business tools including Jira, SharePoint, Tableau, Salesforce, and Intacct, among others, with an App integration subscription so you don’t have to play around with your own API. As well as the possibility of enterprise tool integration, Clarizen Go has an App marketplace to add additional features to the system including helpful add-ons such as active directory sync, Excel reporting integration and priority automation – many of which are free.
Clarizen Go costs from $60/user/month and offers a free trial.
MIT licensed and written in PHP.
TaskBoard is an easy-to-install PHP framework on an existing web server with a collection of functions that make it easy to use and manage. Installation is as easy as unpacking your web server files, running one or two scripts. Options for building a board include adding the columns you want to use and choosing the cards ‘ default color. You can also delegate users to boards so that only the boards they need to see are seen by others. User management is lightweight, and the server is located in all accounts. For everyone on the server, you can set a default board, and users can also set their own default boards. These options can be useful if somebody works more than others on one board.
Additionally, TaskBoard allows you to create automated actions that are actions taken on user task changes, rows, or card categories. While TaskBoard is not as strong as some other kanban apps, you can set up automatic actions to make board users ‘ cards more accessible, simple due dates, and automatically allocate new cards to individuals as required.
The cards are very plain. We do have end dates and a point area while they don’t have a start date. Points can be used to estimate the required time, effort, or just overall priority. Using points is optional, but it’s a really handy feature if you use TaskBoard for scrum planning or other agile techniques. Users and categories can also filter the view. This can be useful for a group with many work sources, as it helps a team leader or supervisor to access status data regarding progress or workload of an individual.
If you need a kanban board that is relatively lightweight, check out TaskBoard. It installs fast, has some nice features, and is easy to use. It is also sufficiently flexible to use for development teams, personal task tracking, and much more.
TaskBoard is Open-Source and free.
Free and open source Kanban project management software.
Kanboard is a free, open-source Kanban system that is outstanding in its simplicity of installation and use as well as in its depth of features. Kanboard requires PHP 5.3.7 or higher on Apache or Nginx together with the PHP extensions mbstring, gd, and pdo sqlite (Kanboard uses Sqlite by default but can use either Mysql or Postgresql).
Installation is as simple as uploading and running the script (not to mention changing the default password of the administrator) and configuring the system. CSS allows you to customize the whole look and feel.
The default view shows all the projects they are part of as well as their tasks and subtasks for a logged-in user. There is also a schedule detailing all the tasks that are “Work in Progress” and an activity stream tracking all system changes.
Kanboard has a simple user management system that only allows two user types; regular users and administrators. You may add time zones and languages to users (it currently includes position for 18 languages) and create a default plan.
The Kanboard interface allows you to move tasks by drag-and-drop between columns and you can define column titles and categories for tasks on a project-based basis and restrict users to have only one subtask in progress if required. You can also allow subtasks to track time.
You can add subtasks, notes, documents and images to Kanboard tasks, transfer the task to another project, build subtasks, close tasks and subtasks, and delete tasks from projects. Every activity involving a task or subtask is monitored and documented to provide an audit trail of exactly how the process is being used. Kanboard also supports “swimlanes,” horizontal rows that split the board into groups like divisions, roles or individuals.
You can share a project board with outside people (non-users) and there is even automation that allows you to set up automatic event-based changes to the task assignor, colors, or task categories and sub-tasks. Add to that analytics and integration with Github, Bitbucket, Gitlab, Hipchat, and Slack as well as email notification, multiple authentication systems (LDAP/ActiveDirectory, Google, Github and Reverse-Proxy) and a Json-RPC API and Webhooks to create tasks from an external software along with a command-line interface and you have an amazing Kanban system that is efficient, elegant, and simple to deploy.
If you haven’t explored Kanban as a tool for project or process management, this may be the lowest cost, lowest drag, and most elegant way you can try it out.
Kanban digital project management program to coordinate and track the workflow
Kanbanize is one of Trello’s best alternatives on the market, easily. Kanbanize is an agile project management program for cross-functional teams and multi-project environments, created by an agile company for agile teams.
Its automation engine is something great about Kanbanize— you can create hooks that trigger actions when certain events happen. By automating processes, this helps you save time.
One of the platform’s latest features actually gives you the flexibility to build entirely different workflows on a single Kanban board, which is quite unique. While allowing the tasks to flow through their respective custom workflows, you can see everything on one board. They also have a powerful analytics panel to observe the trends of your workflow, such as cycle time and task distribution. There’s a time-tracking function, too.
All in all, this is an easy-to-use bug-free application providing great visibility. In fact, the only drawback I can see is that it’s not available offline and it’s a bit complicated how they price the product.
Kanbanize comes with pre-constructed integration with popular email tools, Google Drive, Dropbox, GitHub, Jira, and other tools.
Kanbanize costs 1-15 users from $99/month (so it’s between $99 and $6.60 per user per month anywhere).
An open-source (free) kanban board.
Wekan, an open-source kanban board that you can run locally or at your preferred service. Wekan offers a lot of the same features as other Kanban apps, such as building boards, lists, swimlines, and cards, dragging and dropping between lists, assigning members, marking cards, and doing pretty much all you’d expect from a modern kanban board.
It is the built-in rules that distinguish Wekan from most other kanban boards. While most other boards support email updates, Wekan allows you to set up triggers for cards, checklists, and labels when taking action. Wekan can then switch cards, change tags, add checklists, and send emails.
It also supports Docker, ensuring that running on a server on most servers and desktops is reasonably straightforward. Ultimately, if you want yourself to run a nice kanban board, Wekan has you covered.
Wekan is totally open and free. There is no monthly fee. However, you have the option to pay for that if you plan to use it for your organization and need a Commercial Support and fixed major bug.
4. Kanban Tool
Project management tool with online Kanban boards collaboration in real-time
This tool named after Kanban’s concept provides a user-friendly, visually appealing interface to collaborate with teams. While it does not offer a complete suite of project management features, it offers ample tools to ensure that it can be used by any kind of team.Similar to Trello, “Power-Ups” upgrades allow additional features to be accessed by users. This is a lightweight tool with easy onboarding compared to other tools and a relatively low cost.
Kanban Tool has a more focused set of core kanban features on one end of the kanban tool spectrum. This is a reliable tool for teams who want “more kanban and less frills”.
Kanban Tool costs $5 per user per month. It also offers a free version of its various paid versions limited to 2 members and 2 boards, as well as free trials.
An open-source project management tool with a focus on usability.
Taiga is an agile project management platform on-site and cloud-based for small developers, designers, project managers and other practitioners of methodology. Applications include collaboration with the project, bug tracking, reporting, time tracking and task management.
It includes agile customizable features such as boards and backlogs from Kanban. It allows user stories and sprints to be tracked. By assigning a person to them, it allows users to monitor and fix problems. The app ‘ Wiki ‘ provides users with a room for project documentation where they can add, modify and upload wiki pages and related documents. It provides Webhooks, GitHub, GitLab, Bitbucket and Gogs compatibility.
Mobile application for iOS, Android and Windows devices are offered. Support is offered via FAQs and support pages.
Taiga has a free plan that includes unlimited public projects, 1 private project with up to 3 members and 300 MB storage space on the private project. The Premium package is based on owned ventures at $7 a month per single member ($5 if charged annually).
Widespread Kanban software that offers online Kanban boards both paid and free.
We couldn’t leave Trello out of this list as one of the best Kanban tools on the market. So even if you’re looking for an alternative to Trello, you can use this Trello review as a point of comparison as you explore the options.
This tool is widely used and has integrations with Salesforce, Slack, GitHub, Google Drive, Evernote, and many other platforms and apps made available through “Power-Ups” upgrades. By integrating Trello with IFTTT, you can configure your own automated flows (e.g. when a new GitHub bug is detected, Trello creates a card automatically).
The advantage of this configurable approach is that it is lightweight and highly customizable. On the other hand, it requires you to be able to think clearly and set up your automated process instead of choosing from a list of pre-configured business rules.
The only thing we consider a downside of this tool is the lack of expenses and time tracking, although this deficiency can be solved by integration.
This is a great tool all around, and it has the added benefit of popularity. Onboarding Trello is so much simpler because it is probably familiar to many of your team members.
The cost of Trello is $9.99/user / month. There’s also a free version with limited functionality.
1. Restyaboard (Winner & Our Choice)
Written in PHP and is freely distributed under an Open Software License.
Restyaboard is a business-rich, open-source application designed to track and visualize the project’s progress. Nowadays, many people are liking Restyaboard as Trello Alternative. Using a simple and familiar task-based card format, users can combine Trello, Asana, Github, Kantree.io, Pipefy, Taiga, Taskwarrior, and Wekan boards into a single glass table.
Other features include calendar synchronization, version tracking, two-factor authentication, the ability to define offline user roles and work, and flexible viewing options for nesting comments, expanding cards, or lists of color code. While these are some of the app’s prominent features, Restyaboard has many use cases that enhance productivity in the workplace.
Restyaboard is an extensible network that can be securely shared with groups outside the enterprise – governments, clients, vendors, etc. Users can easily and safely share links and attachments on projects with security features and roles-based privileges. Due-date features allow you to implement and change deadlines, with Google Calendar synchronizing tasks automatically. And whether you work independently or as part of a team, collaborative features can be used to store ideas, start discussions, so find new solutions to problems.
You can create cards that are color-coded, templated for faster production, and customized with notification settings for fast and accurate planning and execution. Flexible organizational options allow you to create a card for each blog post or articles batch–or store it all in one card. You can also add post themes, keywords, and specifications for backlinks, and keep up to date with your content calendar. With the incorporation of Google Docs, writers can share the link in the card where stakeholders can directly attach comments to the report or cowrite with multiple authors.
The review features are tailored for both content creators and designers, allowing multiple team members to review tasks at once and minimizing the likelihood of errors. Users can comment and edit copies, and designers can share multiple mockups for revision feedback and rounds. Prior to being released or shared with a client, primary stakeholders must polish and authorize deliverables.
By using a single card for each purpose of your email marketing strategy, you can add a mailing list to a single card, the email copy, images to be used, and the design or code of the newsletter to ensure that all assets are stored in one place. To speed development cycles and retain product continuity, every project can be templated and repurposed.
Teammates may provide input to the corresponding project cards once a project is complete. Encourage them to discuss what went well, what didn’t work, and how to continue improving processes. These retrospectives lead to continuous improvements and enable local and distributed teams to provide feedback and contribute to projects, regardless of where they are in the world. In addition, looking at the comments of colleagues can encourage shy people to add their insights to the cause.
Restyaboard was designed to expand and currently offers many integrations of applications and widgets to help automate functionality – like Slack and GSuite. They already have an integration method and add new resources to this list on an ongoing basis.
Restyaboard core features are free for lifetime and it can be used by unlimited users.
Gender diversity in Tier I cities is higher, with Bengaluru leading the index, the study says.
Women representation in Indian companies grew from 21% five years ago to 30% now..
Low women representation is a cause of concern for investors. According to the 2019 Zinnov-Intel Gender Diversity Survey, gender diversity prioritization and concerted efforts such as return-to-work and women mentoring programs initiated by organizations across India have had a positive impact on gender diversity ratios.
Women’s representation in corporate India has risen from 21% five years ago to 30% now, with higher representation in non-technical roles (31%) over technical roles (26%), the study conducted by management consulting firm Zinnov, in collaboration with Intel India, showed. Only 11% of senior leaders, however, are women, compared to 20% in mid-level positions and 38% in junior roles, it said.
According to the report, which assessed 60 firms, including global resource centers (GCCs), technology service providers and start-ups, and examined various organizational policies and practices, the number of women on company boards grew from 5 percent in 2012 to 13 percent in 2018. It, he said, was primarily due to the requirement to have at least one woman on the board of directors of each business.
The report said that large firms have the highest gender representation at 33%, while medium-sized firms have 27% and small firms have only 21%. Approximately 25% of the workers of global multinational corporations or MNCs (international organisations with a presence in India) are women, while women make up just 30% of the workforce in domestic MNCs and 31% in non-MNC firms.
Gender diversity in Tier-I cities is 31% higher, while in Tier-II and Tier-III cities it is around 25% higher. Bengaluru is leading by 34%, followed by Mumbai by 33% and Pune by 32%.
The study focused on the tremendous gender disparity that continues to exist in Indian workplaces and pointed out that for many years, most of the businesses surveyed have been operating diversity programs, leading to incremental change.
It also revealed that in the non-MNC category, especially in startups, the increase in gender diversity ratios is the steepest. The study added that startups usually do not concentrate on race-based recruiting on a small scale as they strive to quickly take on the best talent irrespective of gender.
Intel India has made efforts to reduce the gender gap, resulting in women being 25 percent of its employees. “Our gender diversity efforts at Intel India go beyond recruiting, retaining and cultivating talent, including supporting women innovators and entrepreneurs, and expanding the technology pipeline to encourage more women to join and succeed in the workplace,” said Nivruti Rai, country manager, Intel India, and Data Center Group vice president, Intel Corp.
“A key initiative we’ve taken in this space is Be-WISE (Women Innovators, Social Leaders and Entrepreneurs), aimed at accelerating women’s inclusive participation in the workplace,” she said.
According to Sindhu Gangadharan, its senior vice president and managing director, commitment to diversity and inclusion is also critical to the success of SAP Labs India. “To make SAP an employer of choice for more women, we have put in place a set of programs and policies that meet the needs of our female employees at all stages of their careers, paying particular attention to their challenging periods such as life events or crucial career moments to help them navigate these changes,” said Gangadharan.
“In the senior leadership group, we have 26 percent women, and we are working to increase that,” she said.
Content editor @ StartupHub.in. Mad about photography and startup ideas.
It is possible to start a business with an Idea, good startup, an opportunity, a need or simply a product or service that makes things easier. There are literally thousands of such ideas that can be turned into a business and all you need is to understand these basic steps and execute them before you launch into your business.
1. Market Research
Market research is a very wide term, so let’s make it easier
· Product / Service study
· Competition Study
· Case Studies
Document and develop a business plan for each and every detail. You may seek guidance from industry experts, consultants or mentors to review and receive valuable feedback and suggestions from them. Good startup will give you a basic understanding as to whether starting a business is worthwhile or moving on to a different idea.
2. Get a Co-founder / Core Team: A great team makes a good company, and this is one of the most important points to consider when starting a business. Find team members who share a similar dream and provide the company with the right kind of knowledge/experience.
3. Financial Planning Let’s talk about getting it up and running now that you’ve decided to good startup a project.
To get it from drawing board to startup, a business would need funds. Your business plan is expected to have a strong financial plan that will help you to assess the power to get you started.
You may be bootstrapping, self-funding, having seed or angel investment; and when you have a detailed financial plan you know how to manage and expand your business seek additional funded from various sources (banks, PE or VC businesses, etc.)
4. Learn Business Legalities Learning about the legalities associated with your business is very relevant for an entrepreneur. This will allow you to protect your company from unexpected issues in the future. You’d need to register your business, brand name, trademark, emblem, website and safeguard your intellectual property by applying for patents or any other type of legally binding agreements.
5. Get an accountant Managing funds is a very important factor in your business ‘ success, so hiring an accountant who knows your industry very well is highly recommended.
6. Choose a business structure It allows you in a long way to choose the right business framework. Many options are available such as One Person Company, Proprietorship, Partnership Company, Limited Liability Company, Private Limited Company, Non-Profit Company, Trust, etc. You can choose an appropriate business structure, based on your business needs and future goals.
7. Decide a business name This is a very exciting part of your business trip; you’d have to find a name that suits your business. You may also want to make sure the name you have chosen is valid for your govt registration. If you want to create an online presence, registry as well as the correct domain name and social media account are available.
start-ups targeting international robotics clubs. India is better known for its software than hardware, so it seems counterintuitive that the country can become a hub for robots
Miko is an Indian robot that has entertained children in Asia and educated them. Now she wants to make friends with American children. Its creator based in Mumbai, Emotix, announced a $7.5 million financing round in August.
Butler is a robot from Gurugram’s factory. Its manufacturer GreyOrange has customers from Japan to Latin America. After a $140 million series C round last year, GreyOrange is the best-funded startup in this region.
Mitra and Mitri are humanoid robots that welcome tourists to India’s banks, cafes, and tech events. For West Asia and China, they are now getting their act together. Their maker, Invento Robotics based in Bengaluru, is looking for a series A round to grow into new markets.
India is more known for its strength in technology than hardware. It seems counter-intuitive, therefore, that the nation can become a center for robotics. But it is increasingly software that distinguishes robots, as AI, natural language processing and computer vision are making rapid progress. By the day, robots become more sophisticated in the way they think, hear, move and adapt. This creates new cases of use for them.
“India has a lot to offer when it comes to data analytics, artificial intelligence, and machine learning,” says Arvind Vasu, ABB Technology Ventures senior vice president. “We are beginning to see more startups working in the B2B space with industry. I’m looking forward to seeing what’s going to happen in the next few years.”
DAVID VS GOLIATH
In addition to GreyOrange, India’s robotics startups are still at an early stage, although a number of them have been founded over the past five years. It takes time to create a competitive value proposition for a global market with robots. Investors are still in a state of wait and watch.
“It’s not because we haven’t met good start-ups from Indian robotics. Others are still at a stage where they are still evolving and finding out which way to go, “says Vasu, whose company, Swiss-Swedish giant ABB, is a leading industrial robots manufacturer and invests in start-ups when there is potential for collaboration.
The relatively emerging robotics start-up funding scenario in India makes it a David VS Goliath battle as they take baby steps into global markets. UBTech Robotics, a Chinese startup whose humanoid robots hold the world record for most robots dancing simultaneously, had a $820 million funding round last year, overshadowing the total funding for all robotics start-ups in India so far.
As with any other field, before making large investments, institutional investors want to see scaling potential. This is more the case with emerging tech such as robotics, which with long gestation times is capital-intensive.
As with any other field, institutional investors want to see future scaling before they make big commitments. This is more the case with emerging tech like robotics, which is capital-intensive with long gestation periods.
GreyOrange rode on BITS Pilani alumni support before proving scale with the automation of the warehouse. For others such as humanoid, educational or medical robots, it’s early days.
Tracxn data shows that while industrial robotic startups in India have raised $216 million, financing for consumer robotics is heavily skewed towards the US and Japan, with Israel and South-East Asia beginning to make inroads.
But perhaps India is at the cusp of transition. “More than 25 venture capital funds and companies selected robotics as one of their focus areas in 2019 to find start-ups on the Excubator platform, which is higher than last year,” Kumar says.
The ecosystem is at a formative stage apart from funding, because robots have yet to be adopted.
But this is changing as Indian engineers in global companies are introduced to various parts of the value chain of robotics, see what is lacking, and start up startups.
“With new technology, they are pushing the boundaries of robotics,” says Arun Raghavan, Arali Ventures ‘ co-founder, who has invested in two robotics start-ups.”CynLr, based in Bengaluru, solves a fundamental problem facing robots in picking up objects that are randomly aligned. They use computer vision to pick up an object from a robotic arm, see what it is, and place it in a slot.”
Those who made early bets, such as Bay Area investor Raju Reddy, who wrote GreyOrange’s first check, see the potential to gain momentum from India’s large pool of engineering and tech talent. That’s because robotics require multi-stream talent pooling.
US attorneys have filed criminal charges accusing Outcome Health leaders of supervising clients and fraudulently obtaining approximately $1 billion in funds, including from major investors.
The federal authorities charged three former Indian-origin executives of a Chicago-based health tech start-up for their suspected involvement in a fraud scheme that involved falsifying the financial performance of the company to raise nearly $1 billion in debt and private equity.
Outcome Health co-founders Rishi Shah, 33, and Shradha Aggarwal, 34, and former executive Ashik Desai, 26, are among six people charged with fraud “that targeted customers, borrowers, and shareholders of the business,” the U.S. Department of Justice said Monday.
Former executives and employees of Outcome knowingly misled creditors, shareholders, and their own auditors by falsely representing additional profit revenue, “said John P Cronan, Senior Deputy Assistant Attorney General of the Criminal Division of the Justice Department.
The charges announced today show that lies and deception can not serve as the basis for any company, including start-ups, to falsely increase revenue for additional capital and private gain, “said Cronan.
Shah and Agarwal cofounded and owned the health care advertising company when the alleged fraud took place in 2015 and 2016.
Between 2011 to 2017, according to the Department of Justice, Outcome’s former executives and workers sold tens of millions of dollars in non-existent commercial stock.
This allegedly resulted in inflated financial statements that were used by former executives in 2016 and 2017 to collect nearly USD 1 billion in debt and equity funding, he said in a statement.
The deceit allegedly committed by the defendants tricked clients into paying for ads they failed to deliver and helped to falsely inflate the value of Outcome Health, “said Assistant U.S. Attorney Brian Hayes, Chief of the Northern District of Illinois Criminal Division.
“These allegations demonstrate that the FBI and its partners will keep companies accountable for their wrongdoing,” said the FBI’s Chicago Field Office’s Deputy Special Agent in Charge Larry L Lapp.
According to Inspector General Jay N Lerner of the Federal Deposit Insurance Corporation’s Office of Inspector General (FDIC-OIG), the accused were charged with allegedly over-inflating the company’s revenue figures to fraudulently obtain bank loans.
Shah, Agarwal, and Purdy are charged with different charges of mail fraud, wire fraud, and bank fraud. Purdy is also charged with one count of a financial institution’s false statements, and Shah is also charged with two counts of criminal proceeds transactions. Desai, the statement said, is charged with one count of wire fraud.
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Anil Goel, OYO Hotels CTO, believes that technology allows the hospitality company to map end-to-end customer experience from search and reservation to service delivery and check-out.
Technology is at the core of the OYO Hotels & Homes hospitality start-up. Anil Goel, Chief Technology Officer, is responsible for driving the technology strategy. He believes that technology allows OYO to map end-to-end customer experience from the process of searching and booking to service delivery and check-out.
He talked to Mint about how the company is taking advantage of new growth technologies.
How is OYO Hotels and Homes using technology?
Technology is central to the growth of OYO and is a competitive advantage for us in the hospitality industry worldwide. We provide our own property management system called OYO OS to hotels, which helps property managers manage all aspects of the property. We have built a number of in-house apps, such as the Co-OYO app, that allow asset owners to monitor progress and access information related to payments in one place. Asset owners can have full visibility on cash flows, business performance, pricing, customer reviews and recommendations through the Co-OYO app. The app includes advanced analytics that allow a deep dive into asset performance over time, an intuitive interface that is easy to navigate and make decisions about value-added services, performance enhancement by providing insights and easy-to-understand metrics and graphs that enable daily performance monitoring. There’s also Krypton, the mobile audit app from OYO that allows OYO managers to audit properties. Now, a single OYO manager with Krypton is able to manage the audit of more than 300 rooms while at the same time improving the guest experience.
How do you use Artificial Intelligence (AI) and Data Analytics, Machine Learning (ML)?
We use ML for dynamic pricing while helping with customer services are AI and NLP (Natural Language Processing). IoT (Internet of Things) is a large area for us where we are experimenting with smart switches and smart lighting to improve the guest experience significantly. This pilot allows us to decide ways to save energy, allow unassisted check-in with smart locks, as well as to determine pre-check-in guest room temperature and lighting preferences. Data science and analytics help us improve the guest experience at every step from a customer experience point of view. Via AI and machine learning, we look at various indicators from day-to-day, weather, place to local events, to be able to learn more and more about which sort of room a customer wants, and what the search results the customer is most likely to value. Data science and machine learning help us understand the behavior of our guests-both preferences and implicit behaviour, how they interact with our search results and app, and how they interact while staying in our hotels.
What about the new Facial Recognition technologies?
Here we are in the domain of exploration. Potentially, facial recognition could have great improvements in customer experience. Imagine a scenario in which visitors would sign in directly online through an app or internet and then walk straight into the room without even having to show the QR code or the device button. But at the same time, the privacy and security concerns need to be balanced. So everything we do will be completely allowed, with the option of opting in or opting out of the process. I see a big play in helping guests make the right choice for Augmented Reality and Virtual Reality. Imagine if your guests really feel like what staying in the hotel room would be like before they booked a hotel. We agree that the hospitality and real estate industries are poised to change technology. And we’re at the top of it.
How big is the team of your tech?
Globally, we have a team of 2100 plus engineers, primarily based in India and China, although in many other countries we have a smaller presence. We hire the top 1 percent of the world’s technology talent, which includes a combination of campus hiring and hiring engineers from other tech firms.
Fresh funds will help Paytm spread to the hinterland of India
In the next three years, Paytm plans to invest 10,000 crore to introduce financial inclusion to more underserved users in India.
One97 Communications Ltd, operating Paytm, raised $1 billion from new and existing investors, including the SoftBank Group of Japan and the Ant Financial of China, said a person familiar with the development.
The funds would help the digital payment firm to beef up its finances to make a deeper foray into the hinterland of India in the midst of intensifying competition from the PhonePe Pvt owned by Google Pay and Walmart Inc.
The fundraising boosted Paytm’s valuation to $16 billion, from the $15 billion it was listed at when some of its employees cashed out their shares in a secondary sale to undisclosed New York-based shareholders in August.
Paytm said it raised a fresh round of equity from existing shareholders like Ant Financial, an Alibaba Group Holding Ltd affiliate, and SoftBank Vision Fund on Sunday. New investors, including T, also joined them. Associates of Rowe Price, Inc. The round was also attended by Discovery Capital, an established Paytm investor. Nevertheless, the company did not reveal the amount of funds raised.
Paytm founder Vijay Shekhar Sharma said the fresh investments will be used to grow the payments and financial services business.
Over the next three years, Paytm plans to invest around 10,000 crore to bring financial inclusion to more underserved users throughout India.
Paytm pioneered acceptance of low-cost digital payments in India using its QR-code technology in local shops and retailers in its first phase of growth. Paytm, currently serving merchants in over 2,000 towns and cities across 650 districts, aims to provide rural India with low-cost mobile financial services that are enabled. The organization will invest and help millions of rural Indians through job creation towards self-sustainability, “he said.
Since the beginning of this year, Paytm has been in talks to raise funds in the face of rising losses, increasing competition in the digital payments market, and no clear source of revenue growth to monetize its customer base.
In India, digital payments have risen to 22.4 transactions per person more than five times since 2015 in the year ended March 31, Reserve Bank of India shows figures.
According to a report by NITI Aayog last year, the market is expected to expand to $1 trillion by 2023.
In digital payments, Paytm is involved in a market share fight with Google Pay and PhonePe. The digital payment firm has fallen behind its two competitors in UPI payments once the clear market leader.
Paytm is trying to become a comprehensive, margin-enhancing financial services firm, but has struggled to expand its bank and other businesses. Japan’s SoftBank has pressed Paytm to speed up its spending cuts and find new revenue streams, according to reports.
Japan’s SoftBank has been pushing Paytm to speed up its spending cuts and find new revenue streams, according to reports.
Ravi Shankar Prasad, Minister for Electronics & Information Technology inaugurated the summit
Startups will try to bring the focus of venture capitals and government around their processes and strategies
The telecom minister also launched the MeitY Startup Hub (MSH)
With a vision to discuss how leveraging emerging technologies like artificial intelligence (AI), the internet of things (IoT) would catalyze the socio-economic growth of India, Ravi Shankar Prasad, Minister for Electronics & Information Technology (MeitY) on Monday inaugurated MeitY Startup Summit 2019. The summit is seen as a step forward towards bringing together key stakeholders and startups under one roof.
During the course of the summit, startups and entrepreneurs will share techniques and strategies that they find effective with one another. Further, they will work with practitioners to capture viable techniques to bring the focus of venture capital and government around their processes and strategies.
At the summit, the telecom minister also launched MeitY Startup Hub (MSH). The startup hub has been set up in order to facilitate MeitY’s vision of promoting technology innovation, startups, and creation of intellectual properties.
As a nodal agency, software technology parks of India (STPI), an organization under MeitY, is entrusted with the implementation of MSH in the country.
STPI working for the creation of a startup ecosystem in India has so far created 28 centers of excellence (COE). During the MeitY Startup Summit 2019, STPI further signed four Memorandum of Understandings (MoUs) with Intel India Pvt limited, IIM Calcutta Innovation Park, Pontaq and IBM.
The MoUs are expected to help in promoting innovation in information and communications technology during the MeitY startup summit 2019. Additionally, these MoUs are also expected to connect technological institutions, venture capitalists, industries and government agencies.
These MoUs can also be seen as a massive step forward for various STPI CoEs like IoT OpenLab at Bengaluru, ESDM incubation centre at Bhubaneshwar, Varcoe at Bhubaneshwar, Autonomous Connected Electric Shared Vehicles, CoE at Pune, MedTech & health informatics CoE at Lucknow, Rural & Agri IoT CoE at Guwahati, BlockChain CoE at Gurugram and IoT in Agri CoE at Patna-Motihari and others.
Further, STPI has initiated the activity of setting up of various domain-specific CoEs across India. Moreover, IIM Calcutta Innovation Park (IIMCIP), has been engaged for providing their expertise in the call for application, screening, onboarding & review of startups across STPI CoEs.
Government’s Push For Startup India
The Union government has been continuously working towards building the startup ecosystem of the country and make it easier to grow.
Recently, showing confidence in the ability of startups to bring innovation and drive business in the Indian economy, Modi said that the Indian startup ecosystem will help India achieve the $5 Tn target for the economy set by the government.
Modi also highlighted that India is one of the top three startup ecosystems in the world and lauded startups for powering the startup ecosystem. The Prime Minister also claimed that the world is looking at new India as a land of unique opportunities.
The Startup India scheme has played a significant role in channeling the entrepreneurial spirit of India’s innovators and has penetrated Tier 2 and 3 markets as well. With plenty of initiative from the central and state governments, startups and early-stage businesses have been given every encouragement and incentive to grow and innovate.