A NEW ERA OF STARTUPS, BE YOUR OWN BOSS

Let us have it very clear in ourselves, once in a while in our daily life we heard about a startup.
do we care? well no, not exactly. But trust me the way the market is getting tonnes and tonnes of entrepreneurs with their extraordinary minds to build a new tomorrow and be the bosses for themselves is no less than a new change which will revolutionise the world sooner or later.

Did you have any of those childhood dreams which you always wanted to achieve or work over it,
but somehow missed out due to the education criteria set by our surroundings? One might be interested
in electronics, gadgets, toys, sketching, dancing, singing, playing or anything. But how many of us are working on the same, well I am, actually, I am doing my bit by writing something which makes me happy.
Startup is not something related to Technology, it’s about creating new and unique method so as to
change the market and creating jobs for others and making ourselves the boss.

Ever heard of a popular startup? here is a list of startups that were started by some risk taking peoples who had the will and guts to make a change.

1)Snapdeal: Kunal Behl

Snapdeal is an Indian e-commerce company based in New Delhi, INDIA. The company was started by Kunal Behl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010. Snapdeal currently has 275,000 sellers, over 30 million products and a reach of 6,000 towns and cities across the country.

2)Flipkart: Flipkart is an electronic commerce company headquartered in Bangalore, Karnataka. It was founded in October 2007 by Sachin Bansal and Binny Bansal, Flipkart has launched its own product range under the name “DigiFlip” with products including tablets, USBs, and laptop bags. As of April 2017, the company was valued at $11.6 billion.

3)Oyo rooms: Ritesh Agarwal

OYO Rooms, commonly known as OYO, is an Indian hotel brand that owns and operates as well as aggregates standardised hotel rooms. It currently operates in more than 200 Indian towns, Malaysia and Nepal

Ritesh Agarwal is the founder & CEO of OYO. It started with one city and one hotel in Gurgaon in January 2013. The company as of April 2017 has around 70,000 Rooms in 7,000 hotels across 200 towns of India.

4)Paytm: Vijay Shekhar Sharma,

Paytm is an Indian electronic payment and e-commerce company based out of Delhi NCR, India. Launched in August 2010, it is the consumer brand of parent One97 Communications. The name is an acronym for “Pay Through Mobile.” The company employs over 13,000 employees as of January 2017 and has 3 million offline merchants across India. It also operates the Paytm payment gateway and the Paytm Wallet.

5) staqu: Founders: Atul Rai, Abhishek Sharma,

70% of all data online comprises images and videos — a fact that excites Atul Rai, whose company helps users search for products using images rather than words. “If a user wants a floral print dress, she should be able to upload a picture and find similar products, The Gurugram-based company raised an undisclosed amount of funding from Indian Angel Network in June.

6)Freshtohome: Founder: Shan Kadavil, Shan Kadavil,

Shan Kadavil, Shan Kadavil, who founded online fish and meat delivery service FreshToHome in Bengaluru in March 2016, has been doubling sales every three months, and is looking to expand to 20 cities in 2017. It has more than 80,000 customers in Kochi, Thiruvananthapuram, Bengaluru, Mysore, and Delhi. “We have a centralised processing model, so it is easier to scale,

7)ID foods: Founders: P C Musthafa, Samsudeen T K, Abdul Nazer, Jafar T K & Noushad T A,

Bengalurians consume 1 crore idlis a day. In that fact P C Musthafa sees a daily opportunity of Rs 3 crore (at Rs 3 an idli). That’s what pushed the IIM-B graduate to start iD Fresh Foods with four of his cousins in 2006, delivering homemade batter in Bengaluru. Today, its idli/dosa batter is available in 14 cities, and iD’s revenues crossed Rs 100 crore last year.

8)Fresh menu: Founder: Rashmi Daga,
The food-tech sector has really faced fire in the past two years, but one of the few startups to emerge unscathed is FreshMenu, which cooks and delivers food from its own kitchens in Bengaluru, Mumbai, New Delhi and Gurugram. Founder Rashmi Dagga, an IIM-A alumnus who set up the company in 2014, says the company registered 3x growth in the number of orders in 2016. FreshMenu is backed by Zodius Capital and LightSpeed Ventures.

9)Capital float: Founders: Gaurav Hinduja and Sashank Rishyasringa,

Bengaluru-headquartered Capital Float considers 2016 a remarkable year for fintech startups. “The sector attracted $150 million in funding. Digital India and demonetization will only give further impetus to the sector,” says Gaurav Hinduja, co-founder, Capital Float. The company, which started in 2013 with loans to SMEs, has come up with innovative products such as ‘Pay Later’, which gives loans to retailers against data on PoS machines. Capital Float, which primarily handles e-commerce finance, has seen 8x growth in 2016, its biggest so far. From Rs 150 crore loans disbursed in 2015, it disbursed Rs 1,000 crore in 2016. Capital Float tied up with 45 new players, including Amazon, Yatra and Ola.

10)UNBXD: Founders: Pavan Sondur and Prashant Kumar, Unbxd works with 1,200 e-commerce companies in 40 countries, and almost 80% of its revenue comes from outside India. It works with e-commerce companies such as PepperFry, Lenskart and Caratlane to power search, navigation and product recommendations. Engineers Pavan Sondur and Prashant Kumar set up the company in 2011, and have since been backed by Nirvana Ventures, IDG, Inventus and Indian Angel Network.

11)Flyrobe: Founders: Pranay Surana, Shreya Mishra & Tushar Saxena,

It’s just over a year since IIT-Bombay grads Pranay Surana, Shreya Mishra and Tushar Saxena started Flyrobe, a designer apparel rental startup, in September 2015 but they’ve already raised a total of $7 million from Sequoia Capital, IDG, GREE Ventures and angel investors. It offers brands such as Sabyasachi, Ritu Kumar, Masaba Gupta, Armani, Hugo Boss and Calvin Klein. Flyrobe is currently in five cities — Mumbai, Delhi, Ahmedabad, Hyderabad and Bengaluru

12)Tripoto: Founders: Anirudh Gupta and Michael Lyngdoh,

The startup founded in 2014 is looking to expand its user base and monetize the travel itineraries posted by real travellers this year. Tripoto has itineraries and experiences from travellers on the road, and this is the unique aspect that they’re hoping to monetize.

13)peelworks: Founders: Nidhi Ramachandran and Sachin Chhabra,

Founded in 2010, Peelworks helps around 3,000 retail stores across the country by improving efficiency in distribution and marketing. Chhabra spent more than 14 years with FMCG giant Hindustan Unilever, understanding the problems in the distribution chain. The company’s solution helps its customers analyse information on performance, incentives, promotions and skills of employees.

14)Finomena: Founders: Abhishek Garg and Riddhi Mittal,
Started by Stanford University alumnus Riddhi Mittal and IIT-Delhi alumnus Abhishek Garg in October 2015, Finomena uses algorithms to assess the creditworthiness of young working professionals, who would be denied loans from NBFCs and banks, and helps them get micro loans for consumer electronics. Early in 2016, it raised a seed round from Matrix Partners

15)Myra: Founders: Anirudh Coontoor and Faizan Aziz,

Bengaluru-based Myra is an online pharmacy that delivers medicines at home in an hour. The startup, which does 1,000 transactions a day, has managed a customer retention rate of 75%. Founded 12 months ago, the company has over 10,000 customers in Bengaluru and is backed by angel investors including Pranay Chulet of Quikr, Pankaj Gupta from Twitter and Prashant Malik from LimeRoad. Around 8% of Myra’s clientele orders every day with hardly any money spent on marketing.

Benefits to startups by Indian Government

Startups are becoming very popular in India. The government under the leadership of PM Narendra Modi has started and promoted Startup India.

To promote growth and help Indian economy, many benefits are being given to entrepreneurs establishing startups.

Simple process
The government of India has launched a mobile app and a website for easy registration for startups. Anyone interested in setting up a startup can fill up a simple form on the website and upload certain documents. The entire process is completely online.

Reduction in cost
The government also provides lists of facilitators of patents and trademarks. They will provide high-quality Intellectual Property Right Services including fast examination of patents at lower fees. The government will bear all facilitator fees and the startup will bear only the statutory fees. They will enjoy 80% reduction in the cost of filing patents.

Easy access to Funds
A 10,000 crore rupees fund is set-up by the government to provide funds to the startups as venture capital. The government is also giving the guarantee to the lenders to encourage banks and other financial institutions for providing venture capital.

Tax holiday for 3 Years
Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board (IMB).

Apply for tenders
Startups can apply for government tenders. They are exempted from the “prior experience/turnover” criteria applicable for normal companies answering to government tenders.

R&D facilities
Seven new Research Parks will be set up to provide facilities to startups in the R&D sector

No time-consuming compliances
Various compliances have been simplified for startups to save time and money. Startups shall be allowed to self-certify compliance (through the Startup mobile app) with 9 labour and 3 environment laws (for the list of white industries which are eligible under self-compliance.

Tax saving for investors
People investing their capital gains in the venture funds set up by the government will get an exemption from capital gains. This will help startups to attract more investors.

Choose your investor
After this plan, the startups will have an option to choose between the VCs, giving them the liberty to choose their investors.

Easy Exit In case of exit – A startup can close its business within 90 days from the date of application of winding up
Meet other entrepreneurs
The government has proposed to hold 2 startup fests annually both nationally and internationally to enable the various stakeholders of a startup to meet. This will provide huge networking opportunities.

 

Author: Nitesh Singh
LinkedIn Profile
Nitesh@TechSocial.In

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