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Business motivation

3 Innovative Technological Tools for Hi-tech Farming

hi tech farming
ऑर्गेनिक फूड बिजनेस

India is one of the 15 leading exporters of agricultural products in the world. Agriculture is the backbone of the Indian economy and the primary source of livelihood for around 58% of the population.

Gross Value Added (GVA) by agriculture, fishing, and forestry was estimated at Rs. 19.48 lakh crore (US$ 276.37 billion) in FY20 (PE). Agricultural export from India is around US$ 38.54 billion in FY19 and US$ 35.09 billion in FY20. source https://www.ibef.org/industry/agriculture-india.aspx

India has made steady developments and immense progress towards agriculture post-Independence. However, the country relied heavily on imports and food aids to meet domestic requirements during the mid-1960s. But the severe drought in 1965 and 1966 followed by the Green Revolution convinced India that it could not rely on foreign help. Post that the country reformed its agriculture policy.

The transformation of Indian agriculture began with the Green Revolution, which was followed by the Blue revolution, the White revolution, Yellow and Bio-Technology revolutions. Using modern farming methods of agriculture such as proper irrigation, the better quality of seeds, pesticides, and chemical fertilizers, India became self-sufficient in food grain production.

As time progressed, more technological advancements happened. And today, when the world is tech-enabled, farmers can use high-tech farming equipment and scientific data to improve crop yields.

Here are some examples of high-tech farming methods that can improve farming:

Artificial Intelligence

With Artificial Intelligence entering the hi-tech farming space, the agricultural scene is completely changed. From sowing to favorable weather conditions, type of soil, type of harvest a crop would need to harvesting, and then to post-harvest help, the AI promises informed inputs to the Indian farmers and other stakeholders in the ecosystem.

With schemes like Pradhan Mantri Fasal Bima Yojna (PMFBY), the government is also welcoming the fresh change that will help to reduce the time taken in settling claims of the farmers.

Mobile Applications

Mobile technology`s role is paramount! This innovative technology is playing a vital role in monitoring and controlling crop irrigation systems.

According to the Indian Cellular & Electronics Association (ICEA), India`s total smartphone user base had grown to 50 crores in 2019, and 40% of this user base hailing from rural India.

With smartphone users growing rapidly, it makes sense to marry mobile technology with farming methods for agricultural purposes. E.g. Farmers can control irrigation systems from his phone, rather than a computer.

Drones

For smart Hi-tech farming, the use of Drones can bring accurate information with ease. A drone can provide real-time information related to their crops, dry regions, soil deterioration, and fungal infections in a readable format.

This will enable farmers to take vital decisions regarding irrigation and crop harvesting. Drones can also be used for spraying purposes.

Introducing high-tech farming methods in India is the need of the hour. It is the only way to ensure the progression of this sector. A lot of companies are coming up with data analytic tools, robots, and drones that will completely revolutionize the Agritech business.

Learn more innovative ways to take your business ahead with our expansive online training courses and Problem Solving Courses. Know what works and what not for your business through the industry experts. Click here to know more: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Motivational

7 Inspirational Elon Musk Quotes to take on the Impossible

elon musk
elon musk

Recently, Tesla billionaire Elon Musk, who briefly surpassing Jeff Bezos officially became the richest man in the world on Friday, is again the second-richest person in the world. After a brief stint, his fortune fell by nearly $14 billion in one day. According to Forbes, he is now about $6 billion behind Bezos, who has a net worth of $182.1 billion.

Known for his impressive accomplishments, Elon Musk has been an inspiration for many young entrepreneurs, millennials, and businessmen across the globe.

While Musk has built foud billion-dollar companies, money was not the driving force behind it. He invested a huge whopping amount and sometimes nearly all of his fortune to solve some of the world`s biggest problems.

Just like Elon Musk, we too believe that ordinary people write extraordinary stories by believing in themselves. To inspire our readers, we are presenting some of the most key learning lessons from Musk`s life. Take on the impossible with these seven Elon musk quotes:

  1. When something is important enough, you do it even if the odds are not in your favor.
  2. If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.
  3. Persistence is very important. You should not give up unless you are forced to give up
  4. The first step is to establish that something is possible; then probability will occur.
  5. It’s OK to have your eggs in one basket as long as you control what happens to that basket
  6. My biggest mistake is probably weighing too much on someone’s talent and not someone’s personality. I think it matters whether someone has a good heart.”
  7. If something has to be designed and invented, and you have to figure out how to ensure that the value of the thing you create is greater than the cost of the inputs, then that is probably my core skill.

Get the inspiration you need to start, grow, and lead your business today with www.badabusiness.com. Turn your ideas into reality with smart business models and strategies with our Everything About Entrepreneurship & Problem Solving Courses that will take you from a newbie to a pro!

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Categories
Business motivation

Indian Edutech BYJU`s acquires Aakash Educational Services, signs a billion-dollar deal!

byjus acquire aksash

Edtech Unicorn BYJU is in the news once again, and this time for signing a deal with Aakash Educational Services for a whopping $1 billion. According to reports, BYJU`s has acquired brick and mortar education player Aakash Educational Services (AES). Although both parties are yet to make an official announcement regarding the deal, it is one of the largest ed-tech acquisitions in that world.

While online learning startups have flourished, offline tutoring centers are affected badly. Bangaluru based BYJU`s has a valuation of $12 billion and has been on a fund-raising spree due to the increased demand for its online lessons because of the global COVID 19 pandemic.

BYJU`s, which is India`s second most valuable startup is backed by the likes of Facebook founder Mark Zuckerberg`s Chan Zuckerberg Initiative, and Tiger Global Management & Bond Capital co-founded by Silicon Valley investor Mary Meeker.

While Blackstone will swap 37.5% equity in Aakash for BYJU`s stake, the deal will witness a complete exit of the Aakash`s founders, the Chaudhry family. According to reports, the Chaudhary family may get a cash payout of $300 million.

Backed by Blackstone Group, Aakash Educational Services runs more than 200 brick & mortar centers of Aakash Institutes. While Aakash Educational Services has half-a-million paying students enrolled in its programs, BYJU`s on the other hand has around five million paying students.

When combined, this significant deal would focus on the innovative approach to teach students in secondary education, and prepare them for the entrance examinations.

BYJU`s was founded by Byju Raveendran, who was a former teacher, who also came up with a mobile application for smartphone users in 2011. From kindergarten to the 12th grade, BYJU`s provides lessons in science and mathematics through video games and animations.

Last year in September 2020, BYJU`s announced that around 70 million users logged in from over 1,700 cities all across the country, during fundraising. Out of 70 million, over 4.5 million are paid users. The application has been adding more than 5 million users a month. India`s biggest Edu-tech firm aims to double its revenue to $1 billion in the current financial year ending in March 2021.

If there is a startup business idea that you would like to work upon, do not wait, anymore! Take our Everything About Entrepreneurship course and learn from some of the topmost industry experts that will guide you through their experience.
Take insights and gain knowledge about how business works and can grow even in challenging times. Visit here : https://www.badabusiness.com/?ref_code=ArticlesLeads

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Marketing

5 Powerful & Affordable Local Marketing Strategies to Grow your Business!

local-marketing

Whether you are running a company worth a million dollars, a small business owner, an entrepreneur, or a solopreneur, marketing is necessary for every product or service. But, small or local business owners probably lack financial resources that are significant to advertise products in the niche market.

However, marketing can be done even with just a shoestring budget. Yes, you heard it right! Any marketing strategy will yield perceived impact, as long as you know how to implement them effectively. Having said that there are many local marketing strategies, which are quite cost-effective and very impactful.

One thing that every business owner must take into consideration is that not every marketing strategy will be suitable for your business. Hence, you must be aware of customer behavior, your competitors in the market, and your niche market.

You must pick your marketing strategy with caution, considering your budget and lack of luxury to do a marketing do-over.

To make it all easy for you, here are 5 inexpensive local marketing strategies for your business:

  1. Creative Packaging

Creativity can help you find solutions to overcome challenges. Creative packaging can be an excellent marketing stint. It does not necessarily have to be an expensive one, but it should catch the attention of your customers. Hence, don`t be afraid to think out of the box!

  1. Sponsor Local Events

If you are an entrepreneur or a new start-up, local events are the best place to make your brand a presence. Small local events are sponsored by multiple brands. Each brand pays only a small sum of money to get featured on the list of sponsors. Find out the upcoming local events and get associated with the ones that will help you target the right set of audiences.

  1. Use the power of Social Media

Social Media in today`s world is an impressive way to make an impact on your customer base. Instead of selling your product or services, educate your audiences. Tell them how a particular product will solve their burning problem. Build a stronger relationship with your customers that will help to establish your credibility and trust.

  1. Effective Promotional Schemes

With cut-throat competition in the market, brand promotion is extremely critical. If you are planning to introduce a new product in the market, you need people to try out your service or product. It is always a good idea to offer free samples and trials to ensure your target customers can experience your services first hand.

  1. Take Customer Feedback

Retaining an existing customer is always cheaper than getting a new one. Hence, before you think about buying a new client database to churn out a new marketing strategy, use your existing customer database constructively.

Customers are happy to give honest feedback on the products and services they have paid for. With an engaging feedback process, you can make your customers feel valued and learn the multiple ways of improving your business.

Marketing strategies need not be expensive, rather creative and effective! Unlock your business`s true revenue potential with our aforementioned local marketing strategies and a lot of deep business insights with our Everything About Entrepreneurship (EAE) program.  Visit https://www.badabusiness.com/?ref_code=ArticlesLeads. Click now!

Categories
Business motivation

Success Story: How this Indian Discount Brokerage Firm Joined the Elite Unicorn Club 2020

zerodha success story

Trading and investments are the two terms that appeal to everyone. However, due to insufficient knowledge, brokerage charges, hefty commissions, and a reluctance to take the market risks are a few reasons why people refrain from testing the rivers.

When the world was facing the biggest global financial crisis during 2008 and 2010, the stockbroking companies experienced a downfall. While this challenge was faced by almost every broker in India, Bangalore-based discount broking firm, Zerodha was born during the same year.

Founded by the brothers Nithin Kamath and Nikhil Kamath, Zerodha is India`s first discount brokerage firm. This decade-old bootstrapped startup emerged as one of the unicorns in India in 2020.

Considered one of the most valued online stock trading solutions in the Indian fintech ecosystem, Zerodha`s journey started with a team of five people. Today, it has more than 1,300 employees.

What makes Zerodha different from other full-service brokerage firms?

Zerodha is a discount brokerage firm that does not offer research services such as buy and sell recommendations to its client. This helps them save the cost of having a research team. Hence, it passes on the profit it makes by saving funds.

“In today’s day and age, it’s no more about the big beating the small – it’s about the fast beating the slow,” Nithin says.

“The foundation of any financial services business is built out of creditability and trust. The process was time taking and it took around eight years for the company to reach where it is today. In our first year, we opened 3,000 accounts and when the cost of the product is less, people tend to be suspicious about the quality”, Nithin said.

“Luckily, we have managed to build a community around us that strives on trust, and that eventually helped us in the long run. Even today, we don`t spend money on the advertising”, Nithin, CEO & co-founder of Zerodha added.

Earlier in June 2020, the company announced an ESOP buyback plan at around 5X the booking value, thereby putting its valuation at $1 billion. According to Harun List, shared in August 2020, Zerodha was evaluated at $3 billion.

In FY19, Zerodha recorded a net profit of Rs.350 crore on a revenue of Rs.850 crore. Over the past five years, the total client base was increased by nearly 40X to 2.8 million. Even during the pandemic, it has witnessed its average monthly user addition to be increased by double.

 

Zerodha has also launched an incubator fund Rainmatter in April 2019. The fund was created to invest in early-stage startups. The fund has invested in more than 14 startups.

Zerodha has four registered entities: Zerodha securities, Zerodha Commodities, Zerodha Broking, and Zerodha Capital.

“If you try to be the best, you will be number One, but if you try to be unique, you will be the only One”. With a firm belief in this statement, the founder-siblings are aiming to add 5-10 million new Indian investors in 2021.

For more inspiring stories that showcase the innovative thinking and creative approach of young Indian entrepreneurs, stay updated with our latest blog posts.

You can also learn the current business trends, challenges entrepreneurs encounter and solutions that can help any business grow by visiting https://www.badabusiness.com/psc?ref_code=ArticlesLeads

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Finance

Kerala Becomes the 8th State in India To Complete Ease of Doing Business Reforms, Becomes Eligible for Additional Borrowing Limit of Rs 2,261 Cr

Business Tips | Representational Image Only (Photo Credits: Pexels)

Kerala has become the 8th State in India to successfully undertake ‘Ease of Doing Business’ reform stipulated by the Department of Expenditure, Ministry of Finance. The ease of doing business is an important indicator of the investment friendly business climate in the country. Improvements in the ease of doing business will enable faster future growth of the state economy. Therefore, the government of India had in May 2020, decided to link grant of additional borrowing permissions to States who undertake the reforms to facilitate ease of doing business. Kerala has become eligible to mobilise additional financial resources of Rs 2,261 crore through Open Market Borrowings.

An official release by the government stated that the permission for the same was issued to Kerala by the Department of Expenditure on January 12, 2021. Kerala has now joined the seven other States namely, Andhra Pradesh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana, who have completed this reform. On completion of reforms facilitating ease of doing business, these eight States have been granted additional borrowing permission of Rs 23,149 crore.

State wise amount of the additional borrowing permitted is as under:

Sr. No. State Amount (Rs in crore)
1. Andhra Pradesh 2,525
2. Karnataka 4,509
3. Kerala 2,261
4. Madhya Pradesh 2,373
5. Odisha 1,429
6. Rajasthan 2,731
7. Tamil Nadu 4,813
8. Telangana 2,508

 

The reforms stipulated in this category are:

(i)      Completion of first assessment of ‘District Level Business Reform Action Plan’

(ii)     Elimination of the requirements of renewal of registration certificates/approvals/licences obtained by businesses under various Acts.

(iii)    Implementation of computerized central random inspection system under the Acts wherein allocation of inspectors is done centrally, the same inspector is not assigned to the same unit in subsequent years, prior inspection notice is provided to the business owner, and inspection report is uploaded within 48 hours of inspection.

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Startup

Agriculture Business: 5 Budget Friendly Businesses You Can Start in Agriculture Sector

Agriculture Business Ideas| Representational Image (Photo Credits: Pixabay)
Agriculture Business Ideas| Representational Image (Photo Credits: Pixabay)

One of the most important and reliable source of income of millions of people in India is agriculture. Various families have been involved in agriculture and related activities from generations. The business of agriculture and farming has evolved from being a source of subsistence to one of the biggest commercial activities in the country. Apart from providing employment and income to people who are directly involved in it, agriculture also ensure employment generation through various allied activities such as transportation, warehousing, construction among others. Home Business Ideas: 4 Brilliant Work From Home Ideas That You Should Consider Taking Up.

Today agriculture is not merely restricted to harvesting and sowing of crops, rather the sector has diversified and incorporated various other activities. Here are five profitable business ideas related to the field of agriculture –

Ornamental Flower Business

One of the most profitable and low cost businesses in agricultural sector is of growing and selling ornamental flowers. They are used as decorations in almost every celebration and have a strong demand all over the year. From birth anniversaries, marriages to get-togethers, flowers are used as decorations in personal and professional celebrations. Apart from celebrations, ornamental flowers are used for gifting purposes as well. Start-up this business would cost merely Rs 30,000 to Rs 40,000.

Nursery Business

Another business stemming out from agriculture is starting a nursery and selling plants. As more and more people are growing eco-friendly and environment conscious, they are buying plants and sapling for their homes and offices, thereby providing a good business to the nurseries. A fair knowledge about the various species of plants and their growth requirements is, however needed to start and sustain the nursery business. COVID-19 Impact: 5 Tips to Help Your Businesses Recover from Coronavirus Pandemic.

Organic Fertilisers

As people are becoming more environmentally conscious they are moving away from chemical and synthetic fertilisers towards organic and natural ones. Starting an organic fertiliser business is also very profitable and simultaneously contributes towards the conservation of the precious natural resources. Farmers are increasingly taking up organic farming, government is also encouraging traditional and eco-friendly methods of agriculture therefore producing and selling organic fertilisers is a sure shoot success venture.

Organic Vegetables/Fruit Supplier

An offshoot of organic farming, organic vegetables and fruits are in huge demand all over the country. People are drifting away from processed and packaged foods and looking forward to consuming more natural and organic vegetables and fruits. The demand for organic food products have surged over the last few months. Various restaurants and hotels also look out to but fresh and organic vegetables.

Online Grocery Store

Though not directly related to agricultural practices, but a grocery store does use the finished products from framing as its goods. People now prefer to buy anything online and avoid going out. Opening a local grocery e-store and providing fresh vegetables and fruits to people will prove to be a profitable venture. All one has to do is make an app, contact some local vegetable, fruits vendors and establish a delivery network.

Agriculture and allied activities still employ more than half of the population in the country. Starting a venture in this sector is mostly budget friendly and ensure profits to the entrepreneur. These are all season business and ensure steady and regular stream of business.

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Technology

Flipkart and Niti Aayog Collaborate To Enhance Women Entrepreneurship Platform To Help Women Entrepreneurs in India; All You Need To Know About the WEP

Women entrepreneurs in India (Photo Credits: Unsplash)

New Delhi, January 12: With an aim to enhance community experience for women entrepreneurs in India, e-commerce marketplace Flipkart and NITI Aayog have joined hands to launch the revamped Women Entrepreneurship Platform (WEP). The WEP is a unified access portal which brings together women from parts of India to realise their entrepreneurial aspirations. Kalyan Krishnamurthy, Chief Executive Officer of the Flipkart Group, said MSMEs and start-ups have enabled the industry to better understand their challenges and needs.

The vision of the two partners- Flipkart and NITI Aayog is to make ‘Community’ a very interactive, rewarding and intuitive question and answer platform leveraging WEP resources. Through this, the entrepreneurs can utilise it for fruitful discussions and for sharing knowledge, ultimately benefiting the women entrepreneurs’ ecosystem in India.

Women entrepreneurs face unique obstacles, right from a lack of networking opportunities and mentors to the challenge of balancing work and family. When women come together or form communities, they are better equipped to tackle challenges that come their way, and shared experiences from mentors and professionals can further help them to take their passion and entrepreneurial ambition to new heights.

The idea of the platform was first mooted by NITI Aayog CEO Amitabh Kant who announced the setting-up of a Women Entrepreneurship Platform at 8th Global Entrepreneurship Summit held in Hyderabad during 2017, with an overarching theme of ‘Women First, Prosperity for All.’

Here’s all you need to know about Women Entrepreneurship Platform (WEP):

  1. The Women Entrepreneurship Platform (WEP) is a first of its kind, unified access portal.
  2. It aims to bring together women from different parts of India to realize their entrepreneurial aspirations.
  3. The revamped version will also include an additional feature to offer mentorship to the women mentees with specific knowledge concerning a problem area through a dedicated online mechanism facilitated under FICCI-FLO’s empowering the Greater 50% mission, it added.
  4. The ‘Community’ on the WEP platform aims to connect women entrepreneurs seeking clarifications on aspects of setting up new businesses with those who have experience in setting up businesses and hence can contribute by solving queries.
  5. These include queries like registering businesses, GST, funding, effects of the pandemic, progressing already established businesses.

Niti Aayog CEO Amitabh Kant hopes that the WEP will become a digital place for entrepreneurs to not only seek information and support, but also help each other out. He said the WEP will serve as a forum for people’s voices to be heard – helping inform policies and programs to better suit the needs and requirements of people.

Meanwhile, Krishnamurthy said as a homegrown company, the constant and intense engagement with local Indian businesses, MSMEs and start-ups has enabled us to better understand their challenges and needs, adding that the WEP plays a critical role in uplifting and empowering women-led businesses in their growth ambition.

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Startup

Kerala Government’s NORKA-Pravasi Start-Up Scheme Helped 4,179 Expatriates to Establish Business in the State

Start-Up| Representational Image (Photo Credits: Pixabay)
Start-Up| Representational Image (Photo Credits: Pixabay)

The Non-Resident Keralite Affairs (NORKA)-led Pravasi Start-Up Scheme launched by the state government in Kerala has proven to be a boon to the start-up ecosystem in the state. The scheme has been able to create 4,179 expatriate entrepreneurs over the last five years. It was introduced with the aim to rehabilitate expatriates in Kerala who can contribute to the economic development of the state according to their professional skills. Prarambha: Everything you must know about the Startup India International Summit!

Over the last five years, the Kerala government has sanctioned Rs 220.37 Crore for the start-up projects initiated by citizens in Kerala, who have returned to the state after spending a lot time abroad. During the last financial year 2019-20, 1,043 entrepreneurs were sanctioned Rs 53.40 Crore under this scheme. “Since the LDF government came to power, this government has distributed 45.21 Crore as subsidy to 2,895 entrepreneurs till November 2020,” said NORKA Chairman and senior leader of CPM, K Varadarajan during a media briefing.Tech Startups in India Report Nearly 10% Growth in 2020 Despite COVID-19 Pandemic, Over 1,600 Tech Startups Added in a Year: Nasscom.

Under the Non-Resident Keralite Affairs (NORKA)-led Pravasi Start-Up Scheme, loans up to Rs 30 Lakh with a capital subsidy of 15 per cent (Subject to a maximum of Rs 3 Lakh), are available for start-ups by expatriates who have returned to the state after working for a minimum 2 years in a foreign country. It also offers a 3 per cent interest rebate for the first four years for those who pay the interest on time. Kerala Bank, Canara Bank and the Travancore Pravasi Development Cooperative Society are some of the financial institutions which provide loans to under the provisions of the scheme.

It was started as a joint venture between NORKA and the Kerala Startup Mission to create self-employment opportunities for Pravasis who return to the state from foreign countries and who are looking forward to start their own business. Under the scheme, NORKA undertakes field camps for easier distribution loans and increased reach. It also aims to provide loans in a single day. Seven camps were conducted during 2019-2020 and around 500 expatriates benefited from these camps.

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Startup

Prarambha: Everything you must know about the Startup India International Summit!

startup india

New Year brings new opportunities as the Department of Industry & Internal Trade  (DPIIT) is set to host “Prarambh”- the Startup India International Summit on the 15th & 16th of January 2021 in a virtual format.

The summit, which is likely to be addressed by the Hon`ble Prime Minister of India will also mark the 5th Anniversary of “Startup India’ which was launched on 16th, January 2021.

This startup India program has not only brought the entire concept under the limelight but also accelerated the entire Indian startup ecosystem to expand. It has also motivated Indian entrepreneurs to build innovative solutions for domestic and international needs.

The significance of the startup India international summit 2021- Prarambh is such that even the Prime Minister of India has urged the youngsters to join the summit. In his latest post shared on the social networking site LinkedIn, he emphasized the work-from-home culture that has become the new normal during the lockdown, courtesy to COVID 19 global pandemic.

“With most of the events held virtually, it has given a golden chance to all the youngsters to be a part of many interesting domestic as well as global forums. Prarambha is also one such opportunity that is coming up on 15-16 January. I urge our youth to be a part of it”, he further added.

The summit aims to bring together the sharpest minds from distinct industries, investment, academia, finance, and banking along with young start-up leaders on a common platform. Its main goal is to inspire the youth and encourage innovation and entrepreneurship.

As the event will be held online, anyone can join the event without having to travel anywhere.

The spirit of India`s youth is unmatched. The curiosity to come up with innovative ideas has led to outstanding results. Our start-up heroes not only coming from big cities but also hail from smaller cities, which is a good sign, he added.

Here is how to register for the startup India international summit 2021:

  • Interested youngsters can visit the official site https://www.theprarambh.in to register for the event.
  • Fill in the required details (name, address, e-mail id, sector, city, state, country).
  • Submit the details and click on ‘Register Now’.

To get more details about panelists, speakers, partners & agenda associated with Startup India International Summit, check the official website: www.theprarambh.in

Join Everything about Entrepreneurship Course and arm your start-up idea with the right tools and see the possibilities grow. Visit https://www.badabusiness.com/?ref_code=ArticlesLeads