Tag: startups

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Startup Technology

‘Grow With Google’, a New Online Programme Launched by Google to Help SMBs Build Digital Safety Net Amid COVID-19 Pandemic

Google (Photo Credits: Unsplash)

Tech giant Google has introduced a new online programme to help business owners learn how to build an online presence, find more customers, sell online or work remotely. This is being done amid the coronavirus pandemic to help business that digital tools can provide a safety net for small businesses. The new ‘Grow with Google’ lessons that have been included in the programme can vary from two-minute tutorial videos to live workshops. It can range from beginner level to advanced, so every business can find what they need to become more prepared.

According to a report by IANS, the programme was announced after a report this week showed how a ‘digital safety net’ can serve as a support system for small businesses and helps to mitigate the negative business effects of COVID-19. A report by non-profit Connected Commerce Council in partnership with Google stated that practically all small businesses in the US were disrupted by the pandemic, facing reduced customer demand and hours of operations as well as employee layoffs. 85% of small businesses said COVID-19 made them rethink their approach to digital tools, allowing them to adapt.

The study further revealed that businesses that had a digital safety net in place and used a variety of digital tools — like digital ads, digital payments, data analytics and customer insights tools — felt better prepared. However, not all small- and medium-sized businesses have a digital safety net. The new ‘Grow with Google’ lessons are designed to serve the interest of these businesses.

Here’s How ‘Grow With Google’ Will help SMBs:

  1. Google has introduced a new programme called ‘Grow With Google’ on the ‘Google for Small Business website’. Click here for direct link.
  2. Grow with Google is partnering with SCORE, a network of volunteer, expert business mentors, and non-profit International Downtown Association (iDA) to complete a series of affordable and easily accessible Grow with Google workshops for 50,000 small businesses across the US.
  3. Business owners can find personalised Google product recommendations for their business, as well as helpful tips and practical guides to help small businesses get the most of these tools
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Startup

Startup Ranking 2019: Gujarat, Andaman & Nicobar Islands Emerge As Best Performers in Implementing Policies to Uplift Startup Ecosystem

Startups (Photo Credits: Unsplash)

Gujarat has been named as the best performing state by the government in terms of implementing policies for uplifting the startup ecosystem.  While Gujarat was the best performing state, Andaman & Nicobar Islands was adjudged as the best performer amongst Union Territory and North Eastern states. On Friday, the ‘Startup Ranking’ framework 2019 judged states and Union Territories on seven broad reform area, consisting of 30 action points.

The Ministry of Commerce and Industry said that to establish uniformity and ensure standardisation in the ranking process, ‘States and UTs’ have been divided into two groups. “While UTs except Delhi and all States in North East India except Assam are placed in Category ‘Y’. All other States and UT of Delhi are in Category ‘X’”, the statement read.

While releasing the result of the second edition of ‘Ranking of States on Support to Startup Ecosystems’ through a virtual felicitation ceremony, Commerce and Industry Minister Piyush Goyal called upon the high networth individuals, venture capitalists to finance ‘Startups’. During his address, Goyal said that the COVID-19 pandemic should not be seen as a problem or challenge but as an opportunity to reimagine and reinvigorate India. The Minister recommended that ‘Startups’ should come up with imaginative, relevant and innovative products, undertake reengineering and reform of processes, and orient their ideas to be people-centric.

 

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Startup

Repos Energy, a Ratan Tata-Backed Energy Distribution Company in Pune, Registers Over 150 Fuel Startups in Less Than a Month

Startup (Representational Image Only, Photo Credits: NeedPix.com)

In a major milestone and a step towards Atmanirbhar Bharat, Repos Energy, a Pune-based energy distribution company, has registered over 150 fuel startups in less than a month. Reports inform that these startups would carry on door-to-door delivery of diesel through mobile petrol pumps. Repos Energy startup, which was founded in 2017, is based out of Pune in Maharashtra. It has been funded by Chairman Emeritus of Tata Sons, Ratan Tata. At present, the firm operates in over 150 cities of India. The firm said that as per industry experts, this move is expected to garner around Rs 9,000 crore of investment.

According to a report by IANS, Repos Energy will call them ‘fuel startups’ and will provide them with the entire support system. Repos will provide these new startups with end-to-end solutions for buying the mobile petrol pumps along with sharing the know-how. Some of the fuel startups that have registered with Repos include- Easy Diesel from Pune, Nuvera Energy from Mumbai, Auro Fuels from Bengaluru, AMA Fuels from Kolkata, Echological Fuels from Guwahati, Future Fuel Services from Mirzapur in Uttar Pradesh.

Talking about the growth of the firm, co-founders Chetan Walunj and Aditi Bhosale Walunj, empowering startups through the dynamic model of doorstep diesel delivery through mobile petrol pumps will change the game of fuel distribution in India. “With the goal to reboot the economy and making India Atmanirbhar, Repos Energy has been working extensively to create a startup ecosystem of its own in the energy sector,” a company statement said.

“These fuel startups will be registered with us and featured on our app. We will also provide them with the necessary infrastructure. This will include a back-end team to build their entire brand identity. We will make sure that they become successful startups,” Chetan Walunj said. Meanwhile, Aditi Bhosale Walunj said, “We have built an entire ecosystem of fuel distribution that consists of IoT and AI-driven Repos Mobile Petrol Pumps (RMPP). These RMPPs are being designed at our IoT facility in Chakan, Pune, and comply with PESO norms.”

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Finance Startup

PM Narendra Modi Urges Startups, Entrepreneurs to ‘Team Up’ Under ‘Vocal for Local’ Theme to Make India Atma Nirbhar in Toy Manufacturing Sector

PM Narendra Modi and toy shop in India. (Photo Credit: PIB/Facebook)
PM Narendra Modi and toy shop in India. (Photo Credit: PIB/Facebook)

New Delhi, August 30: Prime Minister Narendra Modi on Sunday during his Mann Ki Baat address urged the people of the country to become self-reliant in the toy manufacturing sector across the globe. He also urged the startups ‘team up for toys’ under ‘vocal for local’ theme to increase India’s share in the global market.

Highlighting the importance for making ‘toys for the world’, PM Modi said, “There has been a rich tradition of local toys in our country. Many talented and skilled artisans possess expertise in making good toys. We have given the focus on toys in the National Education Policy too. Learning while playing, making toys etc has been made a part of the curriculum.”

Urging the startups to be ‘vocal for local’ under the Atma Nirbhat Bharat initiative, PM Modi said, “I urge our start-up to team up for toys’, this also matches our call for a vocal for local. I urge our young brothers to make games in India and also on India. The global toy industry is over Rs 7 lakh crore but India’s share is very small; will have to work to increase it.”

Citing examples of the expansion of indigenous toy-making industries in India, PM Modi said Channapatna in Ramnagaram (Karnataka), Kondaplli in Krishna (Andhra Pradesh), Thanjavur in Tamil Nadu, Dhubri in Assam, Varanasi in Uttar Pradesh are recently developing as toy clusters. Apart from this, he said, “My appeal to the young talent of the country is Make Games Games in India and Make Games of India; it is said, Let the Game Begin…so come, let us play.”

On the issue of developing online games, the Premier said, “I call upon my start-up friends and new entrepreneurs to team up for toys; let us together make toys; it is time for local toys. You also come forward, innovate and implement something; your efforts in today’s small startups will transform into global conglomerates tomorrow and make a mark for India.”

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Finance Startup

Why Do Investors Invest in Startups? Here’s How Investors Add Value to Startups and Help Entrepreneurs

Startups and Investors (Photo Credits: Pexels)

For any business to flourish, there needs to be good investment and planning that will help the firm reach its target audience and go beyond! Here’s where the role of an investor comes into picture. An investor puts capital to use for long-term gains, while an entrepreneur seeks to generate profits by using those funds. Thus an investor is a crucial aspect for any startup, who typically generates returns by deploying capital. Investing in startups is a risky proposition. However, the low requirement for overhead capital along with high upside potential, makes it lucrative for the investors to put their bets on startups.

Basically, an investor is a person that allocates capital with the expectation of a future financial return or to gain an advantage. An investor can choose to invest in-equity, debt securities, real estate, currency, commodity, token, derivatives such as put and call options, futures, etc.

According to the official website of Startup India- startupindia.gov.in, investors particularly venture capitalists (VCs) add value to startups in a lot of ways. Some of them are listed below:

  1. Stakeholder Management: The investors are the ones who manage the company board and leadership to facilitate smooth operations of the startup. Moreover, their functional experience and domain knowledge of working and investing with startups imparts vision and direction to the company.
  2. Raise Funds: Investors are best guides for the startup as they help to raise subsequent rounds of funding on the basis of stage, maturity, sector focus etc. The investors aid in networking and connection for the founders to pitch their business to other investors.
  3. Recruiting The Best to Achieve Business Goals: Finding great talent and best-fit human capital is critical for startups, especially when it comes to recruiting senior executives to manage and drive business goals. The venture capitalists, with their extensive network can help bridge the talent gap by recruiting the right set of people at the right time.
  4. Proper Marketing of the product: The venture capitalists (VCs) assist with marketing strategy for your product/service.
  5. Merger and Acquisition (M&A) Activity: VCs have their eyes and ears open to merger and acquisition opportunities in the local entrepreneurial ecosystem to enable greater value addition to the business through inorganic growth.
  6. Organizational Restructuring:As a young startup grows to an established company, they help with the right organizational structuring and introduce processes to increase capital efficiency, lower costs and scale efficiently.
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Startup

Hewlett Packard Enterprise Creates Platform to Engage With Tech Startups in India, Here Are Details About Digital Catalyst Program And How to Apply

Hewlett Packard Enterprise (Photo Credits: Company website)

Bangalore, August 26: Hewlett Packard Enterprise (HPE) has created a platform to engage with tech startups in India. HPE has launched the HPE Digital Catalyst Program in partnership with angel investing platform LetsVenture. The objective is to support, innovate and identify the next generation of digital disruptors in the Indian startup ecosystem.

As part of this program, HPE will work with a selected cohort of eight enterprise-focused, growth-stage startups along three tracks – technology, go-to-market, and investment. With more than 50,000 startups, India is believed to have the third-largest startup ecosystem in the world.

“COVID-19 has acted as a catalyst in accelerating digital transformation around the world,” said Som Satsangi, managing director, Hewlett Packard Enterprise, India “At HPE, we have always been a believer in the power of partner ecosystems in driving innovation.

Here’s how to apply for the program: 

Click on the link: letsventure.com

The applications are now open and the last date for submission is September 18, 2020.

October 1, 2020, is the announcement of the cohort.

October 5, is the launch of the program.

Mid of January 2021 is the showcase and wrap up of the program

How will the startups benefit?

Startups participating in the program will receive support from HPE teams including technology mentoring by HPE’s distinguished technologists, market validation and mentoring with HPE’s sales leaders. The disruptive startups aligned with HPE’s strategy will also have the opportunity to pitch to the HPE Pathfinder program for funding.

 

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Startup

5 Reasons Why Startups Fail; Here Are the Mistakes Which Need to be Avoided

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Mumbai, August 24: Startups fail due to various reasons and one of the main reason is when they fail to offer the product which the market wants. In short, when they fail to meet the expectation of the consumers. It is very difficult for a startup to stand out until and unless their product offering is different from the others.

Below are a couple of main reasons why startups fail:

Failure to understand consumer demand: Several startups have failed over the years because their product couldn’t meet the expectation of the consumer. Therefore, it is very important to do proper market research before launching your product in the market.

Advertising Blitzkrieg Startups need to spend every penny wisely. However, most startups fall into the trap of spending a bomb on advertising. From getting on board celebrities to endorse their products to full-page ads and TV spots, brands end up burning cash in their quest to get the attention of the consumers. However, what they manage to get is momentary attention in the consumer’s mind space.

Insufficient Funds & Inability to raise capital: A lot of startups wind up due to insufficient funds after a few years of their launch in the market. Their inability to raise capital further adds to their worries with no option left, but to shut down their company, which by this time already have several employees on board.

Poor Leadership:

Startups often fail due to the wrong vision of the leader. A good leader, on the other hand, has the power to bind his team together and motivate, inspire and be with each other in times of crisis.

No Planning for crisis period: 

Several startups have shut because there has been no planning by the leaders on what action to take in case of emergency. Talking about today’s scenario in the middle of the coronavirus outbreak, not only in India but across the world, startups have been forced to shut because the coronavirus induced lockdown. Most of them had not planned for such a crisis scenario, and hence they failed.

A successful startup involves a team of hardworking people, good leadership and focus to help tide through any situation.

 

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Business motivation Startup

PM Narendra Modi Urges Indian Startups to Focus on Innovation in Toy Sector, Suggests Them to Find Ways to Boost Manufacturing And Global Footprints of Indian Toys

Toys
Toys (Representational Image) (Photo Credits: Piqsels)

New Delhi, August 24: Prime Minister Narendra Modi urged Indian startups to produce indigenous toys that not only have cultural connect but also helps in building life-skills and psychomotor skills among children at an early age. In PM Modi’s latest Aatma Nirbhar push, he urged the startups to not only innovate in this sector but also find ways to boost manufacturing and global imprint of Indian toys.

In a Twitter thread, PM Modi said, “I urge start-ups and youngsters to focus on innovations in the toys sector.” He further suggested educational institutions to organise hackathons for students to “innovate in toy technology and design, including online games, to reflect Indian ethos and values.”

PM Modi highlighted that the Indian toy market has huge potential and can bring a transformative change in the industry by promoting ‘Vocal for Local’ under the Aatma Nirbhar Bharat campaign.

He further suggested using tourism as a tool to promote India’s culture especially in regions that are known for handcrafted toys. PM Modi further stressed on the fast-growing digital gaming arena, Prime Minister said India should tap the huge potential in this area and lead the international digital gaming sector by developing games that are inspired by Indian culture and folk tales.

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Business motivation

What Are The Best Sources Of Credit For Business Startups?

It takes a village to raise a child! Similarly, it takes you a well thought out research, determination, hard work, and some good sources to gather capital to turn your dream venture into reality! Where the entrepreneur is all thrilled and excited by the mere imagination of their business coming into existence, they are equally stressed about the venture and the capital it would require for the respective business to survive and thrive in the market.

 

Considering how important and unavoidable it is to raise the capital for your business, it will be a great idea for all the entrepreneurs and wantrepreneurs to conduct detailed research on how and from where they can arrange the finances. With the help of this article, we are going to introduce you to some great options that you could consider while arranging the capital.

 

Venture Capitalists

One of the major sources of investment, venture capitalists are the groups that are known to buy equity in a start-up in exchange for the capital they provide. However, it is important to keep in mind that venture capitalists do not really entertain all start-ups. The only startups that are backed by venture capitalists are those that have tremendous growth potential and are driven by technology. If venture capitalists identify and acknowledge the potential of a startup, they will provide the capital as well as the skills and strategies that the entrepreneur lacks to grow further.

 

Bank loans

This is the old classic that could never go out of trend. Banks, since ages, have been giving out business loans to startups. It is certainly the best and most highly used option for the MSMEs to gather funds for their business ventures. In case you are a small or a medium enterprise, you can consider getting a business loan from a bank. Nevertheless, careful research and a solid business plan are the criteria banks have set to give out loans to start-ups.

 

Angel Investor

In case your business requires a large amount of money, the best option out of the lot for you is to reach out to an angel investor. An angel investor is defined as a wealthy individual with extensive and enriching experience in a particular domain. Sometimes people confuse Venture capitalists with angel investors, however, there are some prominent differences that tell them apart. Venture capitalists do not invest their own money into a startup whereas angel investors do bring their own money into play. An angel investor will invest their own money in a business venture in their early stages and are very much involved in the process of supervising the operations. 

 

Crowdfunding

Crowdfunding is the newest resort that is becoming a rage, especially among the start-ups that promise to serve the society with the service or the products they offer. It is the process of raising small funds individually from a large number of individuals. People invest their money in these startups expecting a reward, product, service, or equity in the business, generally. However, there could be several individuals who do not expect anything in return in case a startup is trying to serve the society.

 

Conclusion

Business financing has become a basic necessity for almost all businesses and this is when the options mentioned above play the most important role. Once you figure out nature, relevance, performance, and market opportunities, it will be a cakewalk for you to decide which option serves your business best.

 

 

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Marketing Startup

5 Cost-Effective Marketing Strategies for Startups

Marketing
Marketing (Photo Credits: Pickpik.com)

The greatest challenge in front of startups is that they are usually on a tight budget. Even if they are not, it is very important, that they should wisely spend each penny for a better result which they can see tomorrow. Therefore, startups shouldn’t be focussing on big marketing spends, but their attention should be on strategies which will help them reach out to a wider audience with limited spends.

Let’s take a look at some cost-effective marketing strategies which startups should consider.

1) Create a company website

Make a proper website, which is easy to navigate and can be opened on all the platforms, like a laptop, mobile phone or on a tablet. It should have all the information about what the company does.

2) Focus on Good Content & SEO

Once your website is up and running, the next step should be to populate the website with relevant content. Equal importance should also be given on SEO for your content to be easily found on search engines.

3) PR and news articles

If you are new in the market, it is very important to spread a word in the media about your arrival with the help of good PR and relevant news articles about your company.

4) Social Media Marketing

Use social media to reach out to your potential customers within a fixed budget. Don’t bombard the audience with too much promotional content. It is very important to create a niche and credibility so that people can trust your brand. Startups can also try influencer marketing, it is a very popular marketing form involving endorsements and product placement from influencers, people and organisations who have an expert level of knowledge or social influence in their field.

6) Be Part of Relevant Forums & Groups

Join as many relevant business groups on social media. Try and look out for questions pertaining to your business. You might see someone asking a question that you can answer (with your expertise), and use it as an opportunity to promote your business.

The marketing strategy of a start-up in the initial few months should be to engage with the customers, and not just sell a product. Remember, you are a new brand and people are not aware of your existence, so it is very important to engage and create a relationship with your customers.