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The Rising Startups In India Edition 2 2022.pdf

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Capt. Shaji Sebastian
Founder & Mentor
International STEAM
Research (ISR)
Dr George Panicker
Founder and CEO
International...
When everything seems to be going against you,
Wremember that the airplane takes off against the
wind and not with it.” – H...
technologies, business integrations, and collaborations that
can propel the business upward toward its central
objectives....
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The Rising Startups In India Edition 2 2022.pdf

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The newest edition of The Rising Start-ups in India Edition 2, 2022, highlights the prime leaders, Dr. George Panicker and Capt. Shaji Sebastian, Founders of Internation S.T.E.A.M Researchers, providing the dawn of industrial revolution and formal education in lecture halls all around the globe, delivering holistic worldview towards tedious and monotonous subjects while adapting to individual mind boxes in the formal educational system.

The newest edition of The Rising Start-ups in India Edition 2, 2022, highlights the prime leaders, Dr. George Panicker and Capt. Shaji Sebastian, Founders of Internation S.T.E.A.M Researchers, providing the dawn of industrial revolution and formal education in lecture halls all around the globe, delivering holistic worldview towards tedious and monotonous subjects while adapting to individual mind boxes in the formal educational system.

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The Rising Startups In India Edition 2 2022.pdf

  1. 1. Capt. Shaji Sebastian Founder & Mentor International STEAM Research (ISR) Dr George Panicker Founder and CEO International STEAM Research (ISR) Vol. 11 | Issue 05 | 2022 Education 4.0 through Happy Zones Tech Insights Disruptive Technologies Enabling Advanced Start-ups to Innovate and Succeed Adept Vision How the Start-up Ecosystem in India is evolving?
  2. 2. When everything seems to be going against you, Wremember that the airplane takes off against the wind and not with it.” – Henry Ford As rightly quoted by the revolutionary industrialist and car maker, Henry Ford, most opportunities are discovered or created in diverse conditions. The diverse conditions of the pandemic saw a surprising surge of new-age resilient, dynamic and innovative entrepreneurs who took challenges and emerged successful. Modern entrepreneurs have learned and identified the challenges in the industry. The first one was to secure the business from unpredictable external factors. In doing so, the business leaders carefully and consciously developed a robust business model that strengthened the business architecture through the thoughtful application of smart systems and practices across the departments that enabled building control, flexibility, and scalability. The second one was the development and enhancement of business potential through the adoption of modern Editor’s Note RISE OF RESILIENCE: THE START-UP DIMENSION “
  3. 3. technologies, business integrations, and collaborations that can propel the business upward toward its central objectives. This included expanding the business scope, strengthening the marketing efforts, and implementing CRM practices that helped in building a loyal customer base and accelerated the process of new business development. The third factor is innovation in business offerings. The recent growth of Indian startups has demonstrated the fact that businesses have gone beyond the conventional paradigms of the industry, but have been creative in their approach, methodology, and quality of offerings. The customer-centric approach was an important aspect of the innovative business strategies implemented by the surging start-ups. Modern entrepreneurs have successfully established effective business models that are based on the fundamentals of holistic business logic. Backed by government initiatives, technological advancements, and systematic planning, the Indian start-ups have risen like a champion growing from uncertainties, and emerging strong, powerful, and successful. In our latest edition of The Rising Start-ups in India, we have identified some of the dynamic start-ups which have carved their niche in the respective business sectors and have contributed to the developments of the industry as well as the country. An interesting and inspiring journey energizes you as you read on about every start-up inside. So, go on and have a delightful reading experience.
  4. 4. Education 4.0 through Happy Zones
  5. 5. C O N T E N T 22 A R T I C L E S 18 Bluwage Enhancement that Ensured Reliability 26 Bonphul Health Bringing Transparent Homogeneity via Zemidi App 30 38 42 34 Haritima Food Products Bringing the Best Brew for Your Taste Buds S-Sence Beauty Products Ushering You into Natural Care and Sustainable Living Wasper Tech Your Fastest Growth Accelerator on the eCommerce Drive Tech Insights Disruptive Technologies Enabling Advanced Start-ups to Innovate and Succeed Adept Vision How the Start-up Ecosystem in India is evolving?
  6. 6. Copyright © 2022 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. Follow us on : www.facebook.com/insightssuccess/ https://twitter.com/insightssuccess Cover Price : RS. 200/- RNI NUMBER: MAHENG/2018/75953 Editor-in-Chief Pooja M. Bansal Deputy Editor Kedar Borgaonkar Managing Editor Abhishek Joshi Assisting Editor Gaurav PR Wankhade Visualizer Sandeep Tikode Art and Design Head Rashmi Singh Associate Designer Sameen Arif Sr. Vice President Megha Mishra Sr. Sales Manager Tejaswini Whaval Business Development Lead Neha Bhadane Sr. Business Development Executive Aniket Mhetre Technical Head Prachi Mokashi Technical Specialist Prashanth Hiremath Digital Marketing Manager Renuka Kulkarni SME-SMO Executive Nikita Khadalkar Circulation Manager Tanaji Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com Insights Success Media and Technology Pvt. Ltd. Off. No. 22, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in Corporate Offices: sales@insightssuccess.com NOVEMBER, 2022 We are also available on
  7. 7. Featuring Brief Company S-Sence Beauty Products offers high-quality beauty and personal care products for body, face, and dental care products. Haritima food products Pvt Ltd was established in the year 2015 and aims to provide the best-brewed variety of tea, coffee at affordable prices. Contributing towards the Sustainable Development Goals of the United Nations, International STEAM Research provides programmes based on Science and Technology through the use of Engineering and Artistic processes, based on the principles of Mathematics called STEAM. S-Sence Beauty Products Haritima Food Products Pvt Ltd International STEAM Research Suchitra Kathuri, Founder, and Soujanya Reddy, Co-founder Aarin Ratnesh Sorathiya, Director George Panicker, Founder and CEO and Capt. Shaji Sebastian Founder & Mentor International STEAM Research (ISR) Bluwage is a mess chain company that aims to resolve the challenges of several local messes based in India. Bluwage Manish Sharma, Founder and CEO Bonphul Health offers a unique and vital online aggregator—Zemidi, aiming to bring homogeneity and transparency to healthcare services. Bonphul Health Deepankar Bhattacharjya, Chief Operating Officer Wasper Tech is a modern marketing, research and tech consulting start-up offering innovative solutions that strengthen business organizations. Wasper Tech Rahul Krishna Nanda, CEO and Founder
  8. 8. Capt. Shaji Sebastian Founder & Mentor International STEAM Research (ISR)
  9. 9. Dr George Panicker Founder and CEO International STEAM Research (ISR)
  10. 10. To build a successful company, one needs to get funding from venture capitalists or angel investors, is what most Entrepreneurs believe. However, in reality we see some of the best start-ups in business were self-financed by its founders when they began and eventually VCs started investing into them when these start- ups attained greater success. Here is an insight into one such self-funded extraordinary and compelling start-up 'International S.T.E.A.M Research' (ISR), which has achieved great success so far in India. Not only is ISR the best service provider in S.T.E.A.M Experiential Learning empowering schools pan India but it is the only S.T.E.A.M Research Company in India that offers their services at the most affordable cost in the world. Riding on the constantly evolving dynamics of changing times, the world has come full circle. It began with the ancient wisdom of the oldest civilizations suggesting that ‘To learn is to live, and to live, we must educate ourselves with a holistic worldview.’ Then somewhere in the sands of time, the timeless wisdom got buried. We kept differentiating the holistic worldview into tedious, monotonous, and un-evolving subjects and isolating education in individual mind boxes. We adopted a static formal educational system to produce an industrial labour force. We kept resisting the much-needed change far too long. ‘International S.T.E.A.M Research’s Founders Dr. George Panicker and Capt. Shaji Sebastian, believe that since the dawn of the industrial revolution, formal education has remained mostly static. In lecture halls around the globe, students still sit in rows of desks gazing at their teachers lecturing in front of the classroom delivering content that they’re expected to memorise, be tested, and be rewarded. In order to bring in a paradigm shift from traditional education philosophy based on standardised test scores, to a modern ideal which focuses on valuing the learning process The Rising Startups in India
  11. 11. as much as the results, both George & Shaji have designed the ISR teaching and learning ecosystem model to promote invention literacy through innovative collaboration and cooperation between various institutions, organizations, communities, networks and thought leaders which is key to develop mindful life-long learners and problem-solvers for a sustainable world. ISR STEAM Experiential Learning & NEP-2020 Dr Panicker, being a highly committed and passionate educationist and a fervent proponent of Heutagogy says, “We are living in a world where content is copiously ubiquitous and easily accessible making memorizing obsolete; hence the ISR STEAM Experiential Learning is context-based and not just content based.” According to Dr Panicker, it is high time to pull out our educational system trapped in a bygone era and revitalize it to match the needs of modern times. Traditional aspects of education, like reading, memorizing, writing, and doing arithmetic, are insufficient to meet future demands. He adds that it is our responsibility to make our students proficient in the 4 C's of education of the 21st century, Critical thinking, Creativity, Communication and Collaboration. Today, instead of college degrees, employers ask for qualities like creativity, ingenuity, innovation, agility and adaptability, critical thinking, complex problem-solving ability, people management skills, emotional intelligence, and cognitive flexibility. Fast-advancing digitalization and the Fourth Industrial Revolution are transforming our reality with exponential technological advancements. Disruption of old trends–be it how we learn, perform our jobs and even the skills required to succeed in our personal and professional life–is the present inevitable truth. Several studies, surveys, and research conducted globally predict that in the imminent future, automation will replace almost half of the human function performed today. A holistic approach to developing teachers’ and learners’ capabilities, with learning as an active and proactive process, Heutagogy, is an extraordinary form of self- determined learning with practices and principles rooted in pedagogy and andragogy. ISR partners with schools/institutions to empower their students with integrated Science, Technology, Engineering, Arts and Mathematics (STEAM) Experiential Learning Labs equipped with futuristic technologies like Robotics, Drones, AI, AR, VR, IoT, Applied Coding etc aligned to the various stages as per NEP-2020 guidelines. World education in general, and Indian education in particular, are already in the revamp mode. In the Indian case, a revamp has already begun with the implementation of National Education Policy - 2020. A Futuristic Ecosystem of Learning In fact, according to Dr Panicker, the NEP2020 is a revolutionary document and it shows the way India can be Education 4.0 ready and encompasses all stakeholders of the educational ecosystem. It encourages teachers to go beyond the traditional selective and limited curriculum- based teaching by enabling them to leverage futuristic assistive technologies. This way, they can improve student engagement by fostering personalized learning. Out-of-the- box thinking is a crucial aspect of Education 4.0. “The future of education lies in integrating Experiential learning with practical, research-based activities into the schools’core pedagogy so that students can develop their Metacognitive Skills,” says Dr Panicker. He adds, to develop a scientific mentality in students, S.T.E.A.M (Science, Technology, Engineering, Arts and Mathematics) Experiential learning hands-on activities is
  12. 12. proving to be the perfect methodology where students learn having fun without the fear of failure. The significance and the relevance of the textbooks or content can never be overruled. However, there is always a need for innovation and re-invention with the context and the challenges that we face due to rapid changes in and around us. To bridge this gap, experiential learning comes handy as it connects content to the leaner’s real-world making it more relevant, applicable and easier to imbibe. Affordable, Reliable & Sustainable Since ISR STEAM Experiential Learning is not a fixed curriculum-based subject but continuously evolving, dynamic and organic. Integrating it into daily students’ routines is quite challenging. It demands teachers to be on their toes all the time and constantly upskill themselves with new standards and novel technologies. That is why it is imperative for educational institutes to collaborate with experts who can guide them in seamlessly integrating STEAM Experiential Learning activities within their existing infrastructure without having to make large scale financial investments. “We partner with schools to provide their students, Experiential Learning through hands-on STEAM activities with the use of futuristic technologies maintaining the highest ethical standards at the most affordable cost.” says Dr Panicker. Designed on the ISR 7E methodology and CRM XP 360 frameworks, ISR activities in a STEAM Lab, which is commonly known as ‘Happy Zone,’ encourages students to collaborate by forming small groups and finding solutions to real-world problems through critical thinking, research- based inquiry, and open-ended exploration, incorporating multiple subjects through a holistic design-thinking process. While learning by themselves in collaboration and having fun, students arrive at the result by failing multiple times. “This process allows them to develop and hone their Heutagogical skills,” assures Dr Panicker. He furthers that “Our intention is not to make anyone an expert in all of what is mentioned, but to harness the essential transferable skills behind them, which are vital for a thriving economy and a safe, sustainable society,” To facilitate students to do so within the schools, the management of the schools must make sure such initiatives are affordable, scalable, inclusive, and sustainable in the long term. All schools that have partnered with ISR in India extremely appreciative of the high-quality international standard service ISR has been providing them. STEAM Experiential Learning is not about just Robotics or Coding Schools in Kerala, Karnataka, Tamil Nadu, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, Delhi, Meghalaya, and West Bengal are leveraging ISR’s STEAM Experiential Learning services. Dr Panicker says that there is a misconception that isolated studying of subjects or coding, AI, robotics, app creation, etc., or developing individual skills among students would be enough to prepare students as future-ready global citizens. Often the terms such as ‘S.T.E.M’, ‘S.T.E.A.M’ are thrown around like a catchphrase or buzzword when one refers to Robotics, Coding, A.I etc. These terms might be interrelated, but it doesn’t mean they’re the same. Instead, they are different subjects with some interlinked concepts. Dr Panicker requests, “For the sake of our students and quality education, it is high time these misconceptions are eliminated sooner than later.” ISR STEAM Experiential Learning is holistic and is rooted in David Kolb’s theory of experiential learning cycle. Understanding ISR Happy Zone The learning environment in a HAPPY ZONE / STEAM Lab is student-centric that lets students control their own
  13. 13. learning and enables them to think critically, evaluate, make decisions and construct knowledge, make learning experience cooperative, collaborative and independent resulting in bridging the gap between theory and practice. It is not simply doing too many activities in a class, taking students out visiting places without any specific learning aim, utilizing expensive resources for learning or watching videos in a smart class. It is also very important to note that any and every hands-on activity cannot be considered as experiential learning. Just because the activities may be hands-on, it does not mean it is mind-on. Many projects, field trips, situation do not yield lasting outcomes because too little or negligible time is given to assimilate and conceptualize the experience in the true STEAM Experiential learning framework. ISR STEAM Experiential learning is designed for school education in line with the curricular and pedagogical structure of the National Education Policy consisting of 4 stages: Foundational, Preparatory, Middle and Secondary Stage. Experiential Learning enables and empowers learners to connect learning on the basis of their prior knowledge, reflect on it, and then conceptualize it before applying to new situations, makes learning meaningful. Also, learning is meaningful and authentic when learners engage in real- world experiences through multisensory approaches rather than passively absorbing text from text- books. Teachers in a school can plan learning experiences by creatively engaging students with resources that are available locally. However, in order to realistically plan and execute the STEAM activities in a sustainable and inclusive manner within the classroom within a specific time and space, the ISR XP Kit is provided to the learners by the ISR trained facilitators. This makes the life of teachers in the school easier.
  14. 14. As experiential learning encourages independent reflection and observation, it allows the classroom to cater to diversified learning styles of learners. In case of classrooms with learners from different background and cultural contexts, the ISR facilitators are trained to customize the learning experiences to address the diversity effectively. Through ISR STEAM experiential learning, the learner absorbs, applies and then reflects upon the knowledge, gained through his/her experience. Experiential learning gives an opportunity to the learners to take ownership and pride in the concrete result after their hands-on activities. As a result, the learning process accelerates, and the acquisition of knowledge becomes interesting and enjoyable, thereby, comprehending and retaining the knowledge lifelong. ISR STEAM Experiential Education is education board and curriculum agnostic. Hence any school following any education board can provide the ISR STEAM Experiential learning to its learners and add value to its existing curriculum.
  15. 15. The fine line between Experience and Experiential must be kept in mind by educators at all time. Experience or Experiencing, refers to learning by doing which may or may not involve reflection. ISR STEAM Experiential learning 7E methodology however is more specific, planned and involves learning by self-reflection. Hence it makes the learner responsible for his/her own learning. ISR STEAM Experiential learning requires lot of planning on the part of the facilitator. She/he has to check how to make the learning engagements connect to real-life situations and are meaningful to the learner. For this the facilitator must have a fair amount of background information as well. What works for one school/classroom setting may or may not work in another. So, local context and resources have to be connected to the lesson plans so that the experience can be imbibed and the learner is not disengaged. If not, any activity may turn out to be simply a teacher-led classroom activity. A dedicated and highly skilled Research & Development team of STEAM Experts at the ISR R&D centre facilitates the planning of dynamic and customized lesson plans for the ISR facilitators of individual ISR partner schools. It would be rather difficult for a non ISR STEAM skilled teacher/facilitator to develop lesson plans for a classroom following the ISR 7E cycle. Hence, it is of utmost importance that a teacher/facilitator is STEAM Skilled through regular ISR capacity building trainings and is in sync with the ISR R&D team. Developing Lifelong Learners and Problem Solvers There is a growing demand for STEAM-skilled personnel across the globe. STEAM Jobs are growing three times faster in the US compared to Non-STEAM jobs. STEAM jobs are often in the most innovative fields and progressive companies, leading to exciting and challenging work. Globally, 75% of the fastest-growing occupations require STEAM skills. ISR STEAM Experiential Learning service, aligned to the NEP-2020 provided to schools by ISR, is outcome-based and imparted to students using futuristic technologies. Students becoming future-proof and versatile is of paramount importance. However, it goes far beyond; by helping students to become lifelong learners and problem solvers through a combination of skills without ignoring to be good human beings and constructive law-abiding citizens of the world. “Exponential technological development is inevitable, and a drastic change in how we work and the type of jobs we do in the near future is what awaits us. None of us can do this singularly. So it is of paramount importance that all stakeholders work together and help one and all be future- ready,” says Dr Panicker, who has been a part of numerous major educational projects in various countries. With his rich experience of over 20 years, having worked and interacted with various thought leaders and educationists from across the globe, Dr Panicker concludes that the only way to be prepared for the future of work is to embrace the idea of helping all learners to be future-ready mindful problem-solvers. ISR is awarded Ÿ ‘The Best Company to Work For 2022,’ by Prime Insights Magazine Ÿ ‘Brand of The Year 2022,’ by Business Outreach Magazine Ÿ ‘Most Innovative Business 2022’ MSME Indian Business Award Ÿ ‘Atmanirbhar Bharat Award 2022’ Ÿ ‘Best S.T.E.A.M Education Company 2022’ Dr George Panicker & Capt. Shaji Sebastian are featured as Ÿ ‘Most Dynamic Personalities 2022,’ in Fortune India Magazine Dr George Panicker is featured as Ÿ ‘Entrepreneur of the Year 2022,’ in Business Outreach Magazine
  16. 16. Manish Sharma Founder and CEO Bluwage Enhancement that Ensured Reliability 18 | November 2022 | www.insightssuccess.in
  17. 17. ood, clothing, and shelter are the necessities of Fevery human being. In today's fast-paced world, where everyone is busy on the run to catch up with their tight timelines. Many people struggle to get good daily meals due to various challenging scenarios. The regular hotels and eateries are costly and unfeasible for daily routine. Students and working professionals often opt for the mess service for their daily requirements in a hope of getting fresh, healthy, cost-effective food. However, it is challenging to find a good mess that meets the requirements, and the mess business is unorganized and person-driven or family-run domestic ventures. Looking into this big vacuum of need for resource disparity, was thoughtfully developed with the objective of bridging the gap and offering a wide variety of options prevailing in the market. This unique online platform opens a vast scope in terms of exposure, information resource, and inquiry generation model for the mess owners spread across various locations of the city. On identifying the wide gap between the needy people and the mess owners, Manish Sharma, Founder and CEO, began this unique business platform, . A www.bluwage.in successful founder and CEO of Pingaroo, a new-age start- up that offers business start-up consultancy, leadership, marketing, and HR management functions, Manish decided to bridge the gap with a common symbiotic ground and began the venture of Bluwage. The Insights Success team interviewed Manish Sharma, in which he overwhelmingly shared the journey of Bluwage, their objectives and inspirations, the challenges faced, and the vision on which he has planned the business model. He revealed his motivation behind the establishment of Bluwage, a tech-enabled web and app dedicated to foodies of India and owners of the mess. He sees great opportunities in these segments, which excites him to solve this problem. Below are the excerpts from the interview Manish, please tell us about the saga of Bluwage since its inception. Bluwage offers smart mess infrastructure, web, and app that allows students, professionals, and Urban People to take high-hygiene food and to owners maximize their revenue and customers. An unbranded mess is providing low- hygiene food and no ease of experience in Mess, and on the other hand, consumers have daily only one choice of mess with fixed one menu. As a Serial Entrepreneur after Pingarooo, I was very clear that I had to solve a problem that is faced by our people, myself, and friends. I want to tell you a story about when I was in Kota for my preparation. I and my friends come late at night from coaching and go to the unbranded mess. And we are likely touchers in mess with bad quality food and service at that time we didn't have any option. My many friends left their studies due to only food problems. They are got admitted for months and months due to unhygienic food in, mess and service. And after joining college, I was an Executive Mess member in my college. I faced and analysed these problems very closely, so we decide to build a mess aggregator platform Bluwage. We are not firing unbranded mess employees; instead of firing, we launched A Launchpad program where we train unbranded mess employees to give world-class service in mess. We also provide access to up to seven messes to our customers so that they can choose any mess according to their choice of food menu near to their home, office, or any city. Bluwage provides an important pla orm that brings together the mess-owners, students, working professionals, etc. towards sa sfying the daily meal requirements through a mutually beneficial collabora on, thereby enhancing business, offering convenience and good health. 19 | November 2022 | www.insightssuccess.in The Rising Startups in India
  18. 18. What was your inspiration behind venturing into the business arena? People say inspiration, and I am always saying it's not inspiration; it's a real problem that we faced in the past. I want to tell you a story about when I was preparing for IIT JEE in Kota with one of my friends Mridul, we came at 9:30 at night daily from coaching, and we are so far from our home. We are not able to make our Daily meals. So, we decided to use a Mess for daily meals. But Mess food is unhygienic, no easy experience, poor Water quality, check-in problems and after a week we start facing lots of health problems. My friend Mridul Suffered from a big health issue, and he gets admitted to the hospital for one month; not only Mridul, but there are also many of my friend who suffered from this problem, one of my friends Manish Kumar from Bihar, left their preparation from Kota due to meal problem. So, I decided to solve this problem by connecting each unbranded mess with Bluwage and providing an asset-light model of mess to the customer with ease of experience, multiple menus, world-class service, high hygienic food, and easy check-in and checkout. What were the initial challenges that you had to surmount to ensure your start-up's success rate reached greater heights? In early 2020, when we were interviewing students and working on PMR, We got to know that Kota students don't use a smartphone; they mainly prefer Black and white phone. This comes in as a major challenge for us to digitalize them. Secondly, in COVID, our consumer in the home industry shut down, but this recession digitalizes the students. We faced challenges in Team stability, Financial Management, and consumer acquisition. What professional values and qualities do you think your clients value in you and your firm the most? High Hygiene food, World class service, Responsibility, Our Asset light model, Access of up to seven mess food, Customer support, Creating a cultural value, Luxurious service, Repeatable service, Accountability. What are the USPs that highlight your brand/company's uniqueness in the industry? Our USP- 'Thinking Out of the BOX’ We provide quality training to our employees to serve world-class service with high hygiene food in mess. It's very necessary to know whether your solution is really solving a customer's problem or not. As per data and review which we have, tells us our USP, no. of customers increasing day by day and the percentage of our repeatable customers is more than 90% which too much excites us. One more survey tells us more than 70% of our customers will be disturbed and have no other such options if we shut down our company. As an experienced professional, what would you like to advise the budding aspirants willing to enter the business world? Ÿ Start Early- Fail Early Ÿ Have Patience Ÿ Take Risk Ÿ Build Network Ÿ Know well your consumer and customer 20 | November 2022 | www.insightssuccess.in
  19. 19. Ÿ Underestimate Yourself Ÿ Focus on Mission Ÿ Make a Finance Road map How do you envision your company's operations with the emerging technologies and automated tools that are revolutionizing the business world by enabling innovations? Emerging technology can enable enterprise goals—but only if properly implemented. We are going with a flow. Properly implemented, emerging technologies can be powerful in helping companies solve business problems, scale on demand, improve resiliency, and deploy technology solutions rapidly and securely. Companies should conduct a digital maturity assessment and determine areas where emerging technology could provide the greatest value or enable the organization to deliver on its strategies with greater certainty or at a faster pace. It's also critical to have effective change management during the transition; otherwise, any technology program will never truly reap the intended benefits. What is the fallacy of the Perfect Business Plan? According to conventional wisdom, the first thing every founder must do is create a business plan-at static document that describes the size of an opportunity, the problem to be solved, and the solution that the new venture will provide. Typically, it includes a five-year forecast for income, profits, and cash flow. A business plan is essentially a research exercise written in an isolation at a desk before an entrepreneur has even begun to build a product. The assumption is that it's possible to figure out most of the unknowns of a business in advance before you raise money and execute the idea. Once an entrepreneur with a convincing business c plan obtains money from investors, he or she begins b developing the product in a similarly insular fashion. Our developers invest thousands of man-hours to get it ready for launch, with little, if any, customer input. Only after building and launching the product does the venture get substantial feedback from customers-when the sales force attempts to sell it. And too often, after months or even years of development, t entrepreneurs learn the hard way that customers do not need or want most of the product's features. After decades of watching thousands of start-ups follow this standard regimen, we've now learned at least three things: Ÿ Business plans rarely survive first contact with customers. As the boxer Mike Tyson once said about his opponents' pre-flight strategies: "Everybody has a plan until they get punched in the mouth." Ÿ No one besides venture capitalists and the late Soviet Union requires five-year plans to forecast complete unknowns. These plans are generally fiction, and dreaming them up is almost always a waste of time. Ÿ Start-ups are not smaller versions of large companies. They do not unfold in accordance with master plans. The ones that ultimately succeed go quickly from failure to failure, all the while adapting, iterating on, and improving their initial ideas as they continually learn from customers. One of the critical differences is that while existing companies execute a business model, start-ups look for one. This distinction is at the heart of the lean start-up approach. It shapes the lean definition of a start-up: a temporary organization designed to search for a repeatable and scalable business model. 21 | November 2022 | www.insightssuccess.in
  20. 20. oing business in a sustainable way and growing it often demands that modern Dentrepreneurs stay abreast with the latest industry trends which include technology primarily. In general, most the progressive business leaders are always on the lookout for new technologies and systems that will improve business quality, and service efficiency and enhance market reach. Modern start-up entrepreneurs are focused on upskilling their teams and strengthening their business models through the implementation and application of modern technologies. Let us identify the latest technology trends that are playing a pivotal role in fortifying the enterprise. Machine Learning Technology Machine learning identifies the client through the minute analysis of the client during the conversation and assists the business development teams in understanding the prospects better and offering them the right solutions resulting in satisfactorily becoming a customer. AI and machine learning have revolutionized the process of modern business development to work in hyper-focused in closing deals. The Technologies Enabling Advanced Start-ups Disruptive to Innovate and Succeed 22 | November 2022 | www.insightssuccess.in
  21. 21. Tech Insights 23 | November 2022 | www.insightssuccess.in
  22. 22. technology is helping access intelligent data that enables through the predictive analysis in generating of strong insights into various market aspects thereby converting the functional data into productive propositions. Artificial Intelligence (AI) The artificial intelligence applications in modern business have helped in numerous repetitive tasks, analysis and providing quick inference that is suitable for making smart decisions and planning the further strategies. It also works efficiently in a smart and feasible method of lead generation by filtering the genuine and productive prospects thereby optimizing the marketing efforts. AI applications help save valuable time and build a beeline of genuine prospects and multiplies the business opportunities. The start-ups that implement it will be able to stay ahead of their competitors while others will suffer from not upgrading to the modern trends. Blockchain Technology The modern start-ups have been greatly enhanced with the applications of the latest Blockchain technology that has helped in streamlining the data management and data process in a secure and safe ecosystem. Furthermore, the blockchain technology has a lot of implications for business development. Although a lot of its applications have been limited, recent developments in oracle technology are making it easier to track and organize different forms of data on the blockchain. This has helped in quick analysis and interpretation of the business data that is well synchronized in the system. Cloud Management Businesses are going beyond typical data management and storage systems. The modern Cloud applications have emerged as phenomenal game-changer with its real-time fast and diverse applications have empowered the start-ups to do the business easily, directly and more securely. The cloud management will be the most efficient and boosting business technologies that are supporting and enhancing the impact of the start-ups in todays world. Embedded Business Intelligence In the modern age of fast-paced competition, modern entrepreneurs have to remain adept and pre-informed as their core daily development skill that could be about any movement in market changes, dynamics and challenges customers are facing. The advanced Business Intelligence (BI) applications enable to fetch the relevant data, process it and provide suitable suggestions about the current business trends, market behaviour and opportunities that can be noticed from the recent responses received from the customer feedbacks. To get the best-qualified indications earlier than the change itself, the start-up entrepreneurs need predictions powered by integrated BI, applied AI and embedded big data that can constantly feed them with the most logical and relevant business data. Intelligent Communication The fast-growing start-ups have been smart and ahead in their communication methodologies. The modern technology of Conversation intelligence is changing and enhancing the pace and depth of customer relationship It aims to deliver value to the customers by analysing what is said on sales calls and translates it into real-time guidance. The conversation data reveals how to adapt interactions to meet customers’ needs and drive the most revenue. The insight surfaces coachable moments across teams that need the most attention, thereby equips the modern start-up entrepreneurs to build better control and maximize the outcome from the customer interactions. Appealing Visual Presentations The modern world of business is moving very fast. Fast in every way. The business scalability, customer expectations, market competitions, options and alternatives and the new concepts emerging everyday. The start-up entrepreneurs always are prepared to connect the customers at the right time and put forth the business ideas through smart, appealing and dynamic visual presentations. There are equipped with the relevant data, infographics, analysis, market study, and the opportunities on implementation. The higher the preparation of the start-up team the higher are the chances of it bagging the deals. The recent applications of animation and web-links has empowered the presentations to the next level. Accelerating on the Full Throttle Empowered with the modern technological applications and smart tools, the ambitious start-up leaders have zoomed ahead in offering the best possible quality, prompt services, continuous communication and enhancing value additions. Be it data management, business development, appealing presentations, to offering a satisfying quality service, the start-ups have supported the modern industry with a greater level of standards and satisfaction. - Kedar Borgaonkar 24 | November, 2022 | www.insightssuccess.in 24 | November 2022 | www.insightssuccess.in
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  24. 24. BONPHUL Health Bringing Transparent Homogeneity via Zemidi App The Healthcare industry is a very important field that has steadily evolved over a period. When it comes to health services, there comes a factor of a speedy recovery. This includes the crucial role of doctors, special- ists, diagnostic centers, pathological laboratories, hospitals, clinics, pharmacies, ambulance services, etc. At times, it becomes challenging for the healthcare professionals as well as the patients in locating the right resource and moving further in the procedure. There arises a need for quick information about local healthcare facilities and professionals, reachability, accessibility, and the ability to communicate swiftly in booking appointments or procuring medicines. The dependability of indirect sources of information can be catastrophic. The advancements in digital technology have transformed the healthcare industry like many other sectors. The online platforms that connect major healthcare service providers along with doctors and professionals play an important role in bridging the industry needs with the healthcare resources, thereby streamlining the entire process chain. Zemidi is an online aggregator of small and medium private hospitals, standardizing medical and surgical interventions into packages. It offers valuable support through its advanced mobile application that offers services like accessing the data of nearby healthcare facilities, fixing doctor’s appointments, ambulance services, homecare and nursing, pharmacies, physiotherapies, critical illness care, health clinics, and more. In a country like India, where newer technologies are welcomed openly, pizzas are delivered quickly, and so should the healthcare industry too. Identifying the need of connecting medical services together in one single platform, Deepankar Bhattacharjya, Chief Operating Officer of Bonphul Health Pvt Ltd, developed this unique and vital online aggregator—Zemidi, aiming to bring homogeneity and transparency to healthcare services. It boosted the communication, connectivity, and knowledge of the services equipping the healthcare businesses and profes- sionals in rightly connecting to the other services and patients. Headquartered in Guwahati, Assam, Zemidi is connected to all the leading hospitals, doctors, physicians, diagnostic centers, pathological laboratories, chemists, pharmacies, and other medical resources. It has major health categories of general surgery, pediatric surgery, ophthalmology, ENT, Interventional cardiology, orthopedics, urology, gynecol- ogy, general cardiology, etc. Humble Beginning Deepankar briefed on the beginning with the idea of solving healthcare challenges common people faced. Until recently, as quality healthcare became a luxury, he precisely aimed in breaking the pattern. The company believes that access to quality healthcare is everyone’s right and so it focused on bringing about transparency in the whole system. It was observed that from the time of entry into the hospital, until the exit, there were a lot of apprehensions of the common people about the amount that must be paid for the hospital- ization. Apart from that people used to fall prey to the malpractices followed by private hospitals which subsequently resulted in incurring huge expenses to the patients. So, the manage- ment thought of bringing about fixed-price comparative healthcare with the hospitals providing clarity, transparency, and trust, and becoming the bridge between the genuine 26 | November 2022 | www.insightssuccess.in
  25. 25. healthcare providers and the patients. The patients can compare, choose and book as per their budget and geo- graphical proximity. Hospitals had the option of putting their price corresponding to the packages listed by Zemidi. Starting from listing packages and onboarding hospitals, it looks forward to becoming the mall for healthcare needs from doctor consultations, and surgeries to ancillary services like ambulance services, medicine to blood bank services. Zemidi operations started three years ago, COVID-19 pandemic brought a big halt. However, it went beyond the challenges and finally launched the application on 9th’July’22 in Assam. The management is proud to be a startup from Assam and would spread across the nation to help enough people. Since its launch, Zemidi has onboarded more than ten hospitals and has more than 350+ live packages to choose from. It has listed all basic healthcare services from primary doctor consultation, secondary and tertiary care, diagnostic services, ambulance service, medicine delivery, and Physiotherapy to cancer care assistance. Zemidi App is available in the Google play store and has had more than one thousand downloads since its launch. Early Inspirations Deepankar believes that entrepreneurship is all about solving different problems. Since the days he was in training, he had been with the students for about seven years. He has been into training and capacity building for the last ten years as training always has been his passion. Whenever he interacted with students on “Entrepreneur- ship”, Deepankar always spoke about life skills like critical and creative thinking, problem-solving, thinking out-of-the- box, etc. So, one day while he was discussing this idea along with the other co-founders, he thought of doing something which he had been teaching his students and it all began from there. The idea of bringing in a fixed price for healthcare facilities using an app was a great idea to be involved in. The team also felt the need for such a process as it also Technology acts just as medium and Bonphul professionals ensure that the human element in healthcare will always be Zemidi’s primary ingredient. Deepankar Bhattacharjya Chief Operating Officer Bonphul Health Pvt Ltd 27 | November 2022 | www.insightssuccess.in The Rising Startups in India
  26. 26. gives the consumer the platform to choose the best service for themselves. The Zemidi team believes that it can improve the lives of individuals and provide them with better services and make a positive impact. Rising from Challenges Zemidi went through similar problems as any other start-up like raising funds, onboarding hospitals, developing the complete ecosystem, and the crippling pandemic, where they lost two years. Still, the team had plenty of time to learn, adapt and improvise to come out with a more people- centric approach for a better user experience. One specific problem that the Zemidi management is still targeting on bringing about a behavioral change. People might order food from an app, but nobody will eagerly book a medical package through an app, as it takes time to build that trust. It is a behavioral change that Zemidi is still trying to achieve, and it is sure in due course of time that the shift will soon be there. Ten years ago, parents would not have been comfortable sending their near and dear ones with an unknown driver. Now people comfortably book an Ola or Uber without a second thought, and this is because they trust the brand more than the driver, for the brand ensures reliability, trust, and safety. This is exactly what the company is trying to achieve by making Zemidi a trustworthy brand as far as healthcare is concerned. Foundations of Values and Principles Zemidi developed trust in the patients for the reliability of the database, the promising effects of the applications, and the advantages it offers in saving time, cost, effort, and process of recovery. On the other hand, the medical industry has lauded the efforts of Deepankar and his team for providing an important resource platform that has enhanced their business growth, and resource potential and has helped their end-customers in locating and reaching them easily. Zemidi is proving to be the best technological interface that equips and strengthens the healthcare industry toward efficient functioning. Ÿ Quality and Affordable Healthcare Services Ÿ Transparency, Clarity, and Trust Ÿ Best Hospitalization Experience One and Only Zemidi in its simplified structure is a unique support platform for the healthcare industry. This all-around versatility is the USP which is also identified as ‘Fixed Price Comparative Health Care Shopping.’ Reflections of Wisdom As advice to the budding professionals in the healthcare industry, Deepankar points out that they should observe the industry and how it functions. Identify the grey areas, problems, and needs of the process. Think of creating solutions that are different and that will enhance the process-chain efficacy. He states, “Be ready to be uncomfortable. Develop strong visualization of your solution and work towards developing it consistently. Trust the process for you will be successful, sooner or later. The result of your business innovation will then be priceless. I always believe, the Larva, Pupa, and then the Butterfly.” Envisaging a Dynamic Future The age is of the Platform revolution and the revolution will be more intense in the coming years as technology plays a very important role. From four Unicorns in 2014 to 100 + Unicorns in India is nothing but a paradigm shift in the way start-up operates. Be it service to products, technology rules the market now and it has a major role to play. However, Deepankar strongly feels that although living in the age of 5G, AI, and IQ, the Human element of EQ cannot be undermined. Technology acts just as medium and Bonphul professionals ensure that the human element in healthcare will always be Zemidi’s primary ingredient. Through the Human Element In a way to bring in the human element, Zemidi has recently launched an Initiative ‘Healthcare Mitra’ where one would be able to connect/book a Healthcare Mitra for any Healthcare related information and assistance through our App or directly. “Through this initiative, we are empowering the local youths through employment and plan to spread this initiative PAN India in the coming years. As of now we have 150 + Healthcare Mitras registered with us and the number is growing every single day,” concludes Deepankar. 28 | November 2022 | www.insightssuccess.in
  27. 27. HARITIMA Food Products From the day the British introduced us Indians to that hot and steaming cup of tea, its taste went straight to our hearts, and our craving for a cup of tea remained forever in our taste buds. You may believe it or not, but tea remains the best morning, noon, evening, and night refreshment drunk by billions not only in India but the world over. And further, it might sound unbelievable but tea remains the best thoughts, ideas, discussions, memories, innova- tions, discoveries, relationships, employment, and even entrepreneurship generator in a nation with 100 billion growing minds. Entrepreneurship in the form of tea stalls everywhere and of every size and type offering tea to the craving hearts and fuzzy minds for their rejuvenation. Everyone drinking and reliving over a cup of tea might be getting inspiringly innovative, but Haritima Food Prod- ucts’ Director, Aarin Ratnesh Sorathiya went beyond them all and innovated the tea itself by brewing ‘Chaiwala Ki Chaipatti (Tea Seller’s Tea Leaves)’ bringing the best brew for your taste buds in such a wide range of varieties that the tea lover in you will say with aplomb: this is indeed… Indigenously Ingenious Tea-Innovation Retelling his mesmerizing tale over a cup of Masala Tea, Aarin regales his brand Chaiwala Ki Chaipatti by sharing that the story of how he started HFP as an FMCG is rather funny. “I have been a passionate tea-lover for as long as I can remember. In my youthful zest, I wanted to come up with a restaurant that would serve tea of all kinds, most importantly, the finest blend from the gardens of Assam.” And when everything was just about set, another idea came to his mind. Rather than limiting the finest tea blends to one restaurant, wouldn’t it be far better if those tea leaves reached every Chaiwala across the nation? That was the moment Chaiwala Ki Chaipatti was truly born. The idea had sublimated from a restaurant to an FMCG within no time. But even then, it wasn’t easy. There were a lot of challenges that rose on the way, and it was only after a prolonged series of struggles that it went on to become an enterprise, a brand. Tale of the Travelling Kettle Aarin adds, “We, at Chaiwala Ki Chaipatti, also love travelling. It rather comes to us naturally.” Their most enthusiastic traveler is a green kettle, which loves to go places and flaunt. This kettle and its journey symbolize their brand and its struggle to reach each nook and corner of the nation and connect with all the Chaiwalas to provide them with the best Chaipatti. In a way, this is, therefore, also a long struggle to eventually make sure that each person sipping tea around the nation gets only the best that is available and nothing less. Bringing the Best Brew for Your Taste Buds To establish a business, you need to sustain yourself and this sustenance will eventually turn into success one day. 30 | November 2022 | www.insightssuccess.in
  28. 28. “And if you’re thinking why chai, why not tea? Let me in you on a secret: In our hearts, we are all a desi lot. Chai appeals to us. Chaiwalas comfort us,” he believes. Every great enterprise rises with a great idea, and Aarin says that they had the idea already. “So, what is left for us to do now is, go on an endless quest to improve ourselves continuously and win your hearts. And we believe, with good tea, that mustn’t be difficult,” he feels. A Sustenance to Success Story… Speaking about his inspirations, Aarin again breaks stereotypes and says that when it comes to inspiration, he does not get inspired from famous successful personalities, but rather from people connected to the grassroots that haven't gained fame. He finds so many people like that around him–the local Chaiwalas around us, are a real inspiration to him. …of Incredible Inspirations! Here, he reminisces about a very unique experience of his. When he worked as an HR in Mumbai, he used to have a 30-minute lunch break. During it, he mostly used to go out of his campus and visit a local Chaiwala. “I learned from them how they used to survive in Mumbai, how they successfully ran their businesses in India's most expensive city, and much more. I have heard their stories while having tea with them and learned one of the biggest lessons: To establish a business, you need to sustain yourself and this sustenance will eventually turn into success one day. This process of survival in any condition, come what may, can't be learned from any famous personalities. Due to this I am into the tea business and I have learned it from Chaiwalas, the way they open a small tea stall, with a low budget and sell a ₹6-to-₹10 cup of tea and at the end of the day, they take enough money home to sustain their family and also for the next day's operation. Believe me, I haven't seen any tea stall shut down in Mumbai, on my way from Andheri to Malad between 2013-2017. Whatever I have learned, has come to me due to my research on Chaiwalas, and they were the real inspiration behind my brand, ‘Chaiwala Ki Chaipatti’to provide them with good quality tea leaves based on their requirement at the lowest possible prices. Aarin Ratnesh Sorathiya Director Haritima Food Products Pvt Ltd 31 | November 2022 | www.insightssuccess.in The Rising Startups in India
  29. 29. Clearing the Menace Speaking about the initial challenges Aarin had to surmount to ensure his startup's success rate reached greater heights, he says when he initially started this business, he went about it in a conventional way and formed a chain of dealers and distributors which turned out to be a real disaster. “I had to incur a lot of losses. There were moments I wanted to take a step back but somehow I held on and introspected where did I go wrong. In our society, when you start a business, everything and everyone is either against you or after you, so this makes it even harder to pave a path with all the financial constraints you already have. This period either makes you or breaks you. Managing capital, allotment of funds, and setting priorities helped my company a lot,” he conveys. Other than this, he ditched the conventional business model and started fresh. He chose digital platforms for marketing and set up a dedicated team that would directly contact their prospective customers. This helped clear the menace created by dealers and distributors and also helped them improve their products. “Since we were directly in contact with our customers and got their valuable reviews which helped us improve a lot,” he reveals. A Transparently Tasty Taste According to Aarin, their professional values and qualities further helped them in establishing trustworthy credentials among their clientele. They are honest towards their work and don’t shy away from calling a spade, a spade. “Since I am a certified tea taster myself, we taste every batch before It’s ready for dispatch and also expects our customers to order and taste our samples before making any big pur- chase,” he informs. This assures clients about the quality and makes them know what HFPs products actually taste like. This process makes sure no one has any false assump- tions and also that people don’t rely on others’ reviews. “Also, if our customers are satisfied with the taste of our products, they automatically get the confidence to further sell it to their customers,” states Aarin. Other than this, they also provide clients with customization options and assist them in every possible way, right from setting up a cafe or tea stall to providing them with training on how to operate it. Tea Sellers’ Tea Leaves Sharing brand ‘Chaiwala Ki Chaipatti’s USPs Aarin says that first of all, being in the food industry, where they cannot sustain if their products are substandard or lacking on the taste front. Their products are high-end luxury products prepared specifically for commercial use, priced so as to suit even the smallest of Chaiwalas. They use the best ingredients and maintain quality not easy for anyone to match. “Our per kg prices may be slightly on the higher end from the rest of our competitors but our yield per kg is almost double compared to them which makes our per cup prices much lower than theirs,” he assures. Other than this, they keep updating their products, and every now and then new products are added to their list which helps their customer serve new exciting flavours to their customers. A Rejuvenating Wisdom Drink As an experienced professional, Aarin’s advice to budding aspirants willing to enter the business world is exceptional. He recommends that listen to everything people have to say “But only rely on your research. It’s definitely important to follow your dreams but at the same time, don't forget to keep a constant eye on your pocket. Accept change. Don’t be afraid of competition as it is a sign that your chosen venture is both, profitable and scalable. Just with a little out-of-the-box thinking and a lot of hardwork, it can give you the desired result. You just need to be consistent.” Offering an Array of Tealeaves for Your Cup of Tea on an App Envisioning his brand’s operation with the emerging technologies and automated tools that are revolutionizing the business world by enabling innovations, Aarin shares that their company's manufacturing process is currently manual as it provides jobs but in the long run if needed, they can easily move towards automation. “Also, we are currently working on our own mobile application with which we will be able to connect with our over 10k customers with more ease and it will increase our efficiency as well as provide our customers with a platform to connect with each other. This way they can share their experience which can help new customers to grow,” he concludes. 32 | November 2022 | www.insightssuccess.in
  30. 30. 34 | November 2022 | www.insightssuccess.in
  31. 31. How the Start-up in India is evolving? Adept Vision Ecosystem The business scenario has undergone a sea change in the recent couple of decades. The start-ups came into existence for their systematic planning and logical business model. Equipped with a good domain knowledge and experience of the core industry several entrepreneurs came up with their businesses which ere scrutinized and supported by the Start-up India Initiative. 35 | November 2022 | www.insightssuccess.in
  32. 32. In recent years, start-ups have been receiving increased attention everywhere for their stable model and logical perspective. In India, the number of start-ups has increased rapidly, and a decent support has become available in all dimensions. Indian start-up ecosystem has developed into an accountable and responsible business entity as compared to the traditional businesses that were unclear, unpredictable, and vulnerable. With an estimated year-on-year growth of 12-15%, Indian start-up ecosystem has evolved as the third largest in the world. The fast-growing business field of the Indian economy, approximately two to three tech start-ups are formed every day. A recent study revealed that in 2018 from the 50,000 start-ups that were formed, approximately 8900 to 9300 start-ups were from the technology segment alone. The Growth Scenario With the government providing strong boost and several private investors lobbying to invest, the pace of growth in the start-up ecosystem has surged to an impressive 15% year-on-year in 2018. The growth of the number of incubators (plug and play simple one-seater to 300 sized) and accelerators (bigger office ready-to-use infrastructure thar facilitated the functioning of bigger companies) has expanded to 11% annually. The prime reason was the small businesses didn’t had the modern infrastructure but easily got it on feasible lease. This served their three purposes of setting up of their business in a modern location, offered an impressive identity to their start-up and offered a good platform for scaling their business. There was a significant rise in the number of women entrepreneurs from 11% to 14%, in the past few years. The recent list of successful women entrepreneurs includes Falguni Nayar of Naykaa, Radhika Ghai Aggarwal of Shopclues, Suchi Mukherjee heading Limeroad, Divya Gokulnath managing Biju’s, Upasana Taku in MobiKwik and more. The Start-ups have been able instrumental in creating employment opportunities through an estimated 40,000 new jobs annually, scaling the total jobs in the start-up ecosystem to approximately 1.7 lakh. This contribution of the start-ups has been a great uplifting factor especially in the economy that was struggling to rise from the pandemic uncertainty. The capital city of Karnataka state, Bengaluru has been counted within the world’s 20 leading start-up cities in the 2019 according to the Start-up Genome Project ranking. Bengaluru has also ranked as one of the world’s five fastest growing start-up cities in the world. The Fundraising Factor The Indian start-ups have shown excellence on fundraising sizeable ticket sizes from various domestic as well as global investors. They demonstrated most funds being harnessed on the basis of the depth of the business model, deal quality, and long-term vision of the entrepreneurs that reflected through the top 15 deals constituted about 40% of total deal value. The new trend showed a surge in the private equity deal volume in India for the second consecutive year, while the total value of $26.3 billion that was achieved in 2018 was the second highest of the last decade. The deals of more than $50 million increased steadily from the earlier year. Key Catalysts in Start-up ecosystem Big MNCs, conglomerates and third-party investors, and foreign enterprises have identified the disruptive potential of start-ups, thus, have been instrumental in investing / collaborating / partnering in the start-ups. The world’s most popular social media MNC Facebook partnered in the Startup India initiative to invest $50,000 in each of the top leading five exclusive start-ups. Goldman Sachs through the ‘10000 Women program’ is offering women entrepreneurs all around the world a business and management education, mentoring and networking and access to capital. After analysing 16 start-ups that have been recently picked up by Microsoft Ventures Accelerator Program in India for its funding and development initiatives. 36 | November 2022 | www.insightssuccess.in
  33. 33. Government Mobilization Identifying the progress and robust structure of the Indian start-ups, the Government of India is has identified the value of working with dynamic innovators across the value chain and has their innovations towards the improvement of public service and development initiatives. The start-up policies have been widely implemented across 26 states across the country. The small and medium businesses which need capital for their growth objectives are now empowered by the special assistance scheme launched by the Small Industries Development Bank of India. A grand challenge in association with Startup India was conducted by Animal Husbandary and Dairying which awards top start-ups in five categories with the amount of 10 Lakh INR. A Positive and Encouraging Scenario The economic development of the country happens not just through government initiatives but through the entrepreneurial mindset of the people. From the growth perspective, the economic environment is greatly conducive for the start-ups, and the people and a win-win situation for the investors to benefit in the long term. - Kedar Borgaonkar 37 | November 2022 | www.insightssuccess.in
  34. 34. Suchitra Kathuri, Founder, and Soujanya Reddy, Co-founder S-Sence Beauty Products 38 | November 2022 | www.insightssuccess.in
  35. 35. Ushering You into Natural Care and Sustainable Living S-SENCE MAKES HANDCRAFTED NATU RAL PRODUCTS WHICH HELP IN SKIN CARE AND NOURISHMENT, ADOPTING ‘ZERO CHEMICAL PRODUCTS AND ZERO WASTE PACKAGING’ POLICY WITH NO PRODUCT TESTED ON ANIMALS. It is the ugly phase of the beauty and skincare industry where in products are branded by companies in the guise of beauty and skincare products with beauty and skin-harming chemicals like Parabens, Phthalates, SLES, Mineral Oil, Formaldehyde, Sulfates, Synthetic colors, Triclosan, Toluene, BHT, Lead, etc., stuffed to make them. These chemically induced products do more harm than good to the beauty they claim of enhancing. In such a contrastingly devastating scenario, consumers had no choice before S-Sence Beauty Products’ Founder Suchitra Kathuri, and Co-founder Soujanya Reddy said enough is enough. Women’s skin will now be protected and given proper care; those seeking premium quality, original, herbal, and natural skin, beauty, and healthcare products at affordable prices for their beauty, money, joy, happiness, and health. An Endeavour of Sustainable Living Suchitra shares, “The hard facts of using the chemical full beauty products just blew up our minds, and continuous research on finding the ways to avoid those products yet enhance the skin gave birth to S-Sence.” Adding to it, Soujanya says, “The glow in the woman's face when we talk about chemical-free skin care products gives us the inspiration to do more and make much better products for the women around us.” The changes in the skin both Suchitra and Soujanya saw on their daughters and mothers, inspired them to make more products for the girls who can save their skin before it gets damaged with chemical-filled soaps and bath products. ‘S-Sence is a 100% women-owned Hyderabad-based company that commenced its journey in July 2021,’ with Suchitra and Soujanya deciding to chase their dreams of making their own identities. While there are so many routes and paths to earn money, they chose sustainable living as the best course to travel. The duo chose to make beauty products that are 100% chemical free, in a company that is completely plastic-free. S-Sence makes handcrafted natural soaps that help in skin care and nourishment. The company adopts a ‘Zero Chemical Products and Zero Waste Packag- ing’ policy and no product is tested on animals. The raw material used is of the highest quality, hence getting the best possible soaps and body scrubs as output. The products cater to a niche segment who aspire to enhance their skin through products that don’t harass the skin and does not age the skin faster than desired. S-Sence products not only protects your skin but also slows down the skin ageing. Organically Sponsored Picturesque Beauty Suchitra holds a Post Graduate degree in Business Adminis- tration and was a homemaker for 13 years before she kick- started her entrepreneurial journey. A multi-tasker taking care of her home, kids, and production at the firm, Suchitra represents the first ‘S’ in S-Sence. She is keen on making quality products with utmost care. As a woman, a mother, and a daughter she understands the importance of chemical- free soaps, body scrubs and other products for the skin. She, from her bad experiences using products with chemicals, came up with the idea of developing soaps in a company using NO Chemicals. Her dream is to make S-Sence a successful enterprise that inspires other women to take up 39 | November 2022 | www.insightssuccess.in The Rising Startups in India
  36. 36. entrepreneurship and also make a place for her products in a very niche market. Original Splendor of Grandma’s Recipe Soujanya, a Commerce Graduate is a beauty enthusiast. She loves being ready for herself. Always keen on looking good but tired of using products with chemicals. In her , pursuit of chemical-free skin care products, she sowed seeds for S-Sence and yes, she is the second ‘S’ in the brand name. Soujanya takes care of R&D and Product Development at S-Sence. Her love for ‘Plastic Free World,’ passion for sustainable living, and organic products laid a path for the company whose basic principle is ‘Zero Chemical products and Zero Waste packing. It is her brainchild to give life to her grandma’s recipes and present it to the modern world and she is out to bring back the ancient Indian recipes which have taken a back seat for a long. Both founders laid down a clear path to take their share of the multi-million-dollar beauty products market across the globe. “Branding our company and its products take an important position in our growth strategy and future planning,” reveals Soujanya. From Homemakers to Brand-Makers Sharing challenges successfully encountered by them, Suchitra says that the biggest challenge was adjusting their daily life schedules to accommodate production. “Having been homemakers for more than a decade, we cannot afford to compromise on our time for kids and family,” she expresses. Going through the same routine and responsibili- ties and doing research and test batches within the same 24 hours which they had earlier was a great challenge. “Though our strength is to create unique recipes with completely natural ingredients, the initial challenge was the ‘Go to Market’strategy,” accepts Soujanya. But with the help of their mentor Kaushik, who helped with the initial funding and ‘go to market’ strategy, they could solve a lot of knots and finally launch their products in the market and now, “We enjoy the production. We now have streamlined the production and steady with the sales and ready for a takeoff to the next level” informs Suchitra. Natural Essence of Handmade Process Presently, their process is thorough. Before it is brought to the market, each and every product first gets a draft formulation. This formulation goes into a number of tests under different conditions. Many test batches are made, some are used, and some are given time to test the shelf life to make sure, they react well when used by our customers. It took 15 months for the company to launch its first product–Natural Soaps. All through these 15 months, the soaps were tested with different formulations, until we got the perfect recipe as per company standards. Likewise, each product goes through the same process. Four months after the launch of its first product, S-Sence now makes and markets six products–Natural Soaps, Lip Balms, Body Scrub, Foot Salt, Hair Oil, and Pain Relief Oil–all handmade and completely natural. Zero Chemical Products Commitment Speaking about their professional values and qualities admired greatly by their clients, Soujanya says, “Our commitment to ‘Zero Chemical Products and Zero Wastage 40 | November 2022 | www.insightssuccess.in
  37. 37. Packaging’ stands out of all.” She adds, “We use the raw materials of the highest quality and get them from all parts of India and customers admire the quality of the products.” “Another value we wish to proudly say is that ‘S-Sence is a plastic-free company,” asserts Suchitra. Revealing their USPs highlighting brand S-Sence’s uniqueness in their niche, Suchitra says that they use absolutely no artificial colours and no artificial or synthetic fragrances in any of their products. The colours and fragrances which the products have are from the natural quality of the ingredients. “We use only earthen clay so that it is completely natural and healthy for the skin,” insists Soujanya. Zero Wastage Packaging Policy In their advice as experienced professionals, both Suchitra and Soujanya share pragmatic wisdom earned from their own journeys. Suchitra suggests, “First, stick to your principle and core idea–why you have started your business. Secondly, mark your market segment. Thirdly, understand the customers’needs and then address them. Finally, invest in your branding.” While Soujanya adds her counsel, “Remember, you are the first brand ambassador for your company. Next, every resource should be managed well for optimum use. And ultimately, financial planning and budgeting are keys to success.” On envisioning brand S-Sence’s operations with the emerging technologies and automated tools that are revolutionizing the business world by enabling innovations, both the founders believe that since they are in product manufacturing and niche space, “The emerging technolo- gies in marketing, will help us immensely in creating and a good market for the products and establish the brand of the company.” Channeling the Strategic Future Expansion The company’s vision is to market the products completely on social media and technology platforms like marketplace eCommerce websites. The company will adapt to the present trends in social media marketing and also needs to adapt to the fast-changing digital platforms. Digital media is the key to creating branding for the company. “In just 100 days of our initial launch, we added 500 customers with 60% repeat customers’ month on month. Now we are ready with our expansion strategy” informs Soujanya. Team S-Sence now wishes to grow through its channel partners. Suchitra says they believe that the perfect channel partners are the organic stores and stores which are committed to selling niche and natural skin care products. “We wish to cater to all parts of India and establish a global brand one day,” she concludes. 41 | November 2022 | www.insightssuccess.in
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  39. 39. The Rising Startups in India
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