Entrepreneurs | Startup India Consultants

Hardware start-ups get a leg-up at Intel Maker’s lab

Intel started its Maker Lab in 2015 to help small hardware firms stabilise by helping them with prototypes and device testing.

Intel said it achieved higher success rates because of the method of choosing start-ups, which best suited their acceleration programme.

Hardware start-ups get a leg-up at Intel Maker's lab

For instance, Jayalaxmi Agrotech has built an Agripole which helps farmers to download their agricultural applications in local languages at village fairs using the Intel Edison platform.

The Bellari-based firm provides timely information on crops to farmers on their apps for which it has set up a router in village centres. This enables villagers to download information without relying on data plans on their mobile network.

Another start-up, Klassik Klonec, has built an Internet of Things (IoT)-enabled Hydroponic system for growing vegetables on sand or water without using soil.

It involves growing green leaves and vegetables in households or industrial areas. The start-up has developed a box which is connected via IoT that maintains the temperature and conditions inside the box. The firm has various individual customers across India and a few from abroad looking to import the equipment to grow plants within an enclosed space.

Smartron, a Bengaluru-based original equipment manufacturer (OEM) start-up has come up with a product ‘t-phone’ and a ‘t-book’. It has its own ‘t-store’ to buy applications and has started selling products through online marketplace Amazon in India.

These firms, part of the nine of the 17 start-ups, have their products from the first batch of the Intel Maker’s lab.

“We took people who really needed technological help and mentorship that could accelerate what they were doing. The start-ups selected not only needed space but a lot of equipments to validate and test their products,” said Jitendra Chaddah, senior director, strategy and operations, Intel India.

In addition, five start-ups are testing their products which would be launched in few months, while three are still developing their products.

Intel would continue to map these start-ups with respect to their own business units, irrespective of whether the products are in the server space or client or IoT or wearable space.

Source:http://www.business-standard.com/article/companies/hardware-start-ups-get-a-leg-up-at-intel-maker-s-lab-116111900588_1.html

Entrepreneurs head to Uttar Pradesh for the national startup fest

Poll-bound Uttar Pradesh has one more thing coming its way from the Centre — it has emerged as top contender to host the national startup fest.

Originally planned to be held in Hyderabad, the industry department is now considering Uttar Pradesh as its preferred choice, with the industrial city of Kanpur the likely venue.

The government wants to take the startup drive to tier II and tier III cities, where the infrastructure and ecosystem for entrepreneurs still needs to be created.

“We want to strengthen entrepreneurial activity in tier II cities…There should be many more Bengaluru- and Hyderabad-like cities for startups in states like Bihar, Jharkhand and Uttar Pradesh,” said Commerce and Industry Minister Nirmala Sitharaman recently.

Uttar Pradesh government officials, too, have stepped up activity to woo startups and budding entrepreneurs.

The date for the event — initially planned for August — is yet to be finalised by the Department of Industrial Policy and Promotion, which is spearheading the Startup India initiative.

“We are working out various details of the event…there has been a delay. It could be held by March 2017 now,” a senior government official said.

DIPP plans to invite over 10,000 startups to the event. The fest is being planned to provide a platform for matchmaking startups and venture capital funds and angel investors, besides discussing key issues facing budding entrepreneurs. The focus will be on sectors such as education, health, manufacturing and agriculture.

The agenda of the grand event will range from funding to mentoring. DIPP proposed to organise a national and an international fest enabling all stakeholders of the startup ecosystem to come together on one platform. The Startup India action plan announced by Prime Minister Narendra Modi in January this year mentioned that such an event would provide national and international visibility to India’s startups.

The government wants to use the national startup fest as a platform to find innovative solutions to on-ground problems. Various government departments have been asked to suggest areas where startups can pitch in with ideas.

The exercise will be undertaken as part of the Grand Challenge in the startup national fest. Problems of social and environmental nature such as water conservation can be posed to startups and they would be given a few months to see if they can come up with solutions.

Source:http://economictimes.indiatimes.com/small-biz/policy-trends/entrepreneurs-head-to-uttar-pradesh-for-the-national-startup-fest/articleshow/54802897.cms

Start Up India

Startups now play a key role in defining new age business models, creating newer avenues and generating employment making the space important to watch.

The spirit of entrepreneurship is changing the way India was looked at a few years ago. With startups in the whirl of the winds of change, using technology as an enabler India seems poised to be a star among the world’s emerging economies. After decades of slow growth and government control, India’s young entrepreneurs have opportunities presented by new policies and disruptive technologies. With over 4,200 technology startups and many more emerging each day, India is the third largest hub for startups globally, and could be the largest one day. The entrepreneurship culture in India is not just paving the way for the future, it is a step towards a great business ecosystem.

In my opinion, it takes a lot of courage from being a job seeker to becoming a job creator but the promise of wealth in the long run, freedom to choose own path, doing things one is deeply passionate about and finding fulfilment are major drivers. When I look back at my decision to quit my job, I recall that I always had entrepreneurial ambitions so giving up the relative stability of my job was actually not a big deal. I think what made the decision easier was the fact that I was convinced that this was the right time to try my hand at entrepreneurship and that after this it would only become more difficult to take the plunge. Today, the scope and variety of self-generated work is unlimited.

Startups now play a key role in defining new age business models, creating newer avenues and generating employment making the space important to watch. Opportunities in various sectors and lack of solutions in some, have created new business prospects and are driving young people to pursue their ideas and passions. India is still a tough place to be an entrepreneur in. Entrepreneurs should be prepared for early issues, such as starting problems, funding and having the right team in place. In our journey too, we faced funding and market-related challenges. Our early investors withdrew after half the promised funding and the travel sector itself was impacted with crises like 9/11 and SARS. Fortunately, the core team was tightly-knit with shared values and vision, which helped us tide over some really tough times. Conviction is truly half the game won.

Startups also face various infrastructural challenges which hinder the business setup and take up a lot of crucial time. Infrastructure like easy availability of plug-and-play office space, easy access for staff via public transport, high speed Internet, electricity, security for women leaving office at late hours are some of the other challenges that startups face.

These issues, while seemingly small, consume a lot of time which an entrepreneur would have otherwise spent on aspects that are core to the business. Effective solutions to counter such challenges will go a long way in helping startups bring efficiencies to their businesses.

Plan your fund-raising right. A stint with the corporate world before starting your own firm would be beneficial and would provide the right amount of exposure and foundation. Always keep a buffer of cash or line of credit you can dip into when times are tough. Get the team right — it is the single most important determinant for success. Everything else can, and will change! Build a healthy and honest culture.

Last, but most important, focus on solving real customer problems, rather than be fixated on an exit. An entrepreneur in India needs the patience of a marathon runner, along with the agility of a gymnast!

Source : http://businessworld.in/article/Start-Up-India/07-09-2016-105327/

Post Modern Investments Ways Prove More Efficient Than Traditional Ones

We live in a world where start-ups are defining the norms. Their efficiency has proved itself to be the winner among public. The simpler a concept is, the wider it gets followed. The same thing is happening with the start-ups nowadays. The whole notion of the world getting smaller with globalisation and technology has increased the potential of new business ideas. Where traditionally, people had to go out in the market and arrange physically their business and had to think a lot beside their idea on how to grow the business. But, now people can put a great deal of time in their idea with the advent of technology. One thing that is never far away from a start-up is problem. We should feel lucky that today, any problem can be solved by just typing that on our keyboards. Same is happening with the problem of investing in a new business ideas. Initially, where preliminary money generation or what now has transformed a typical market term, seed funding, people used to rely on their families, friends and relatives. A big funding was only possible if the idea has run its way into the masses.

Now, the world is changing at the speed of our thoughts. New funding ways have evolved. The best thing is that all the big money makers such as angel investors or the people who had made big money in the last quarter of the 20^th century are really vouching for the success of start-ups. They have understood the power and potential of the technology we are into. All over the world, the wealthy people are supporting their talents be it in India, China, Iran or any other place. However, a budding entrepreneur must understand few new ways which if done properly could bring them huge investments.

Crowdfunding – Crowdfunding is one of the latest modes of capital venture. A large number of people from various backgrounds gather to make contributions for new business ideas. The venture capital emerged from crowdfunding is enough for the seed funding. Also, a good word of mouth in the people who matter really take the idea to scale new heights. Many platforms are there in India which have made crowdfunding easy and make the campaign affective.

Pitching in Fest Events – This is one of the perfect places to pitch your business ideas for various venture capitalists and angel investors. Usually, in these scenarios, various fests and events are organised where instead of models ramping up the stage, new entrepreneurs pitch their ideas and if investors like them, they give them funding. One example of such a stage in India is NASSCOM.

More Seed Funds –In India, there is always going to be a need for more seed funding in the coming few years. Good news is that the VCs and angels have got support from the India government over no tax on investing. Such initiatives by Start-Up India will bring confidence to promising businessmen. It would result in better and efficient competition leading to proficient and deserving ideas to rise above.

Availability of investors’ database – A database of investors is a good thing as their public space can be used gather information. Such information can be resourcefully and judiciously be used to get seed funding. A background check of many investors will open multiple possibilities as their portfolio will provide signs of investing.

Great News for Start-Ups: Government Ends Angel Tax

Angel Investors have been a boon to our start-up industry. These investors have time and again sought out new talents and business ideas and guided them towards success. Our start-up industries’ root more or less stands on Angel investors. However, these investors had to suffer the tax that the government levied on them under Section 56 of the Income Tax Act. This stopped many investors to keep a clear mind on investing start-ups. The good news for the emerging new business ideas from the talent of this country is that this tax has now been scrapped.

The act was made to stop the inflow of black money in the Indian market and to regularize it. But it was backfiring as the investing sentiment has already gone dull and only those start-ups got funding which were coming from big credentials. Now, that the investment is tax-free, more and more investors could vouch for start-ups, giving them hope and faith to carry forward their idea.

Earlier, the Angel investors had to pay up to 30% in tax. This was already an unnecessary thing imposed by the government. According to Sanjay Mehta, an Angel investor, it was somewhat unfair as those venture capital funds who come under SEBI (Securities and Exchange Bureau of India) didn’t have any tax levied on them. Thus, those investors who were not registered under SEBI had to give heavy taxes to the government. The rule says that if an investor’s funding exceeds the fair market value of a start-up, then he is entitled to pay tax to the government. That was a hindrance to the opportunities start-ups could have.

This is a further development under our Prime Minister, Mr. Narender Modi’s campaign of Start-Up India. There are various innovations in this campaign to help the start-ups of India to create new business, jobs and to take the economy to new heights. StartUp India Consultants follows closely all the novelties of this movement and provide services to people who have in themselves to create an enterprise.

What Do You Need to Start a Business?

In this corporate-ridden world tough challenges always there for Startup businesses. Here we are offering you some efficacious steps that you need to take before opening a business.

Planning Process

If you will look for outside financing, a marketable strategy is a need. Be that as it may, regardless of the fact that you are going to back the endeavor yourself, a strategy for success will help you make sense of the amount of cash you will require keeping in mind the end goal to begin; the main priority when, and where you are going.

In the least complex terms, a strategy for success is a guide—something you will use to help you diagram your advancement and that will layout the things you have to do with a specific end goal to objectives. Instead of thinking about a marketable strategy as a weighty record that you’ll just utilize once (maybe to get a credit from a bank), consider it an approach to formalize your goals.

While you will possibly utilize your marketable strategy as a component of your pitch to financial specialists and banks, or utilize it to pull in potential accomplices and board individuals, you will essentially utilize it to characterize your technique, strategies, and particular exercises for execution, including key dates, due dates and spending plans, and income.

Get Financed

Contingent upon the span of your endeavor, you may need to look for financing from a “blessed messenger” or from a funding firm. Most little organizations start with private financing from charge cards, individual advances, assistance from the family, et cetera.

When in doubt, other than your start-up costs you ought to likewise have no less than three months of your family’s financial plan in the bank. So as to fund your organization, you should coordinate the organization’s needs to the proper financing alternative.

Set Up Shop

You’ve done it—or, pretty much. Your strategy for success has been laid out, the cash is in the bank, and you’re prepared to go. You have a considerable rundown of things you have to do: Find an area. Negotiate leases. Purchase stock. Get the telephones introduced. Have stationery printed. Employ staff. Set your costs. Set up an amazing opening gathering.