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Indian Entrepreneurs Need a Hug

by Paul Joseph February 14, 2012 Featured

Scene #1 . Picture this. Barbeque party, Silicon Valley, the US of A. The who’s who of the corporate world. You. An I-Banker. And he- the entrepreneur. So who attracts the crowd? Well, he does. An entrepreneur, successful or failed, and with that, I mean ‘in attempts’, is a much celebrated person than the corporate-world guys with a big pay-cheque in the US. The US Census reported 2,356 people switching to entrepreneurship per day. “Per day”. Now that is a phenomenally huge figure we are looking at when we say ‘per day’. The  report also goes about to mention that even though not all of these succeed, their entrepreneurial efforts make up 78% of US small businesses, while the overall income is estimated at a whopping $951 billion per annum! Scene #2 . Back to India. The liberalization of the economy in the 1990s has cemented the road for many to become entrepreneurs. The possibilities created by today’s comprehensive awareness together with the unfettering of indigenous ventures, has laid a fertile ground for entrepreneurship to thrive on in India. Just to throw some supportive statistics, India is the fifth largest economy in the world and has the third largest GDP in the entire continent of Asia. It is also the second largest among emerging nations. Even then, there is an obvious contradiction. How encouraging and celebrated is the Indian entrepreneurship scene? Protik Roychowdhury, co-founder of croak.it says, “Hardly.” “Entrepreneurship related problems in India arise due to the mindsets of the people. Taking risks is not at all encouraged, atleast in middle class families, where a doctor or an engineer is all that parents can see in their children. Sadly, and forgive me for being cliché, but our education system and our society teaches us to be spokes in the wheel instead of being the wheel itself! I have seen people with great ideas stuck in jobs they don’t like!” Protik graduated from IIT Kharagpur in 2011 and started his own successful online-media venture by the end of the year. “What I have learnt from my experience is that people around you are always going to be skeptical, raise questions, bog you down or dampen your spirit. You won’t be lucky enough to be given the license to do what you want, just as much as you wish you did.” Needless to say, Indians have great entrepreneurial competence. But what motivates the Indian Entrepreneur? Primarily, an entrepreneur is driven by his or her own desire. He has the fire in him to amble on the unfamiliar path. However, there are other important external factors that affect him positively or negatively. “Market opportunity” is one such important factor. To recognize the niche and understand the need to serve it triggers the entrepreneurial decision of building one’s own venture. Once the market is identified, and there is a will to startup, that’s when the other socio-cultural factors come into picture. And that’s where the bad news lies . The society and government are not very motivating towards entrepreneurship. A typisch trait of the Indian society is that of being risk averse. People attain a sense of security in a long-term employment, such as government, corporate jobs  or campus-placements. And just like they say about charity, encouragement begins at home. Shwetank Jain, an XLRI graduate founded his company P2Power , during his engineering days. When he skipped his college placements to materialize his dreams, his parents did not quite encourage the idea. “Are you crazy? Do you even know what you are getting into? Who else is with you? It’s easier said than done!” is how they’d react. And all he had to say was “I dont know, I will figure out! No one is with me. That’s what I really want to do!” That’s how it all started with nothing except faith. “I just took a big leap of faith driven by pure passion. Things were never the same post that. No one could stop me from proving myself to anyone.” he speaks in retrospect. More often than not, the social stigma surrounding entrepreneurship nips it in the bud. Students who skip campus placements to tread on their own visions are often questioned by their family and social-groups. Bluegape.com founder Sahil Baghla recollects, “I was very much convinced that even if my startup weren’t profitable or won’t be able to raise any investment, I would work on bluegape for next 2 years. So I went to my parents and said- Give me 2 years as I believe I can build a company where 100 rockstars will be working with me to make something great, otherwise I will do whatever you want me to do.” Within six months they were profitable as well raised funding from Times Incubation. Besides, there aren’t many support groups, institutions or organisations to motivate entrepreneurship in India. Not that they need a training course to become an entrepreneur per se, but they do want to be coached and mentored. Even though the eco-system is now evolving, the Government needs to encourage people to become entrepreneurs, as business owners and founders could deliver noteworthy benefits to the economy in the long-term. Once an entrepreneur has cracked a successful business-model, he shall go and work with other start-ups down the track, and thereby shore up in developing a business community. “While the funding scene in India, especially the seed and early stage, is not comparable to US yet, it has been getting better. One aspect where it lacks behind significantly is the support for products that are a technology play. On one side, everybody complains about the lack of technological innovation from India, but on the other, investors are not ready to support early stage technology and ask for a reasonable degree of market success – while fully knowing that cutting-edge technology usually has a longer lead cycle before it can succeed commercially.” says Amarpreet Kalkat, founder of CIAFO. “For our product Frrole , more than one VC/Angel has told us that ‘we would be better off looking for funding in Silicon Valley than here in India.’ It’s very sad that we don’t see a higher number of technologists-turned-investors emerging, whose perspective is closer to that of the Valley investors, as of today.” The Indian market needs to fill in this lack of encouragement in order to boom. In India, the journey is not respected. Everyone questions, eyeballs roll. Encouragement from family is not there and financial support is hard. The Indian entrepreneurs don’t get the same protection like in US, and our bankruptcy laws are also unfavorably different. Even worse, a failed startup is deemed as a résumé black-spot. Which means, the plan A bombs the Plan B. So my only modest appeal to the government, the society, the family, the friends, the in-laws, husbands, the wives and girlfriends- , please understand that you are needed by his/her side. It doesn’t mean you share their vision, nor their passion. But just let them know that it’s okay to be an entrepreneur. That it’s okay to walk the unbeaten road, take a calculated risk and put it into something productive. Respect and honour the courage. Award the journey and not just the end-result. Because it’s an opportunity of not once in a decade, but once in a lifetime. So even though the society needs him, he needs you. Get up. Give him a hug. -Abhilasha Dafria

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InMobi Undergoes A Makeover

by Paul Joseph February 10, 2012 Featured

InMobi , a well-known mobile ad network, has rebranded. According to a release on their official blog this rebranding exercise was done to “demonstrate our successful transition from a regional mobile ad network, to a true global leader in mobile technology.” Palo Alto, CA, based 1185Design worked with InMobi to develop the new brand identity. They believe that the new design will better represent the energy and impact of the InMobi mobile ad network. On their blog you can find a presentation which shows how the brand has evolved since InMobi’s inception in 2007. You can also help InMobi in celebrating their ‘new look’. You can buy an InMobi t-shirt with the new logo and click a photo while wearing it and email it to them. InMobi will post the pic on their blog. Check out the brand evolution presentation here . You can buy an InMobi t-shirt here .

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Entrepreneurs – Are You Fundable? at 115th 1M/1M StrategyRoundtable For Entrepreneurs

by Paul Joseph February 10, 2012 Featured

Today’s roundtable had a couple of interesting businesses, but before I get to them, I want to underscore that entrepreneurs MUST gauge fundability before assuming that they can build their businesses by raising money. We’re getting this question constantly: Can 1M/1M help us raise money? This short video addresses that question: Now, let’s get to the entrepreneur pitches. TravelTriangle.com First, Sanchit Gurg from Noida, India, pitched  TravelTriangle.com , a marketplace for travel agencies offering personalized tour packages for travelers seeking such help. The company already has engaged about 75 travel agencies and some 900 customers. They have started transacting, generating multiple bids for each RFP and taking a 5% commission off closed deals. Reviews, ratings and other core marketplace functions are part of the offering. Sanchit and his team of six have validated the concept already. I like the idea a lot, especially because traveling in India and South Asia and South East Asia is still quite complicated. Local knowledge and contacts are key, and the logistics of travel can be very complex. Having personalized, reliable service from a travel agent, along with local guides, etc., are attractive value propositions. The market size, however, is relatively small: 5% of $500M or $25M is the estimated Total Available Market for the foreseeable future. Frankly, that doesn’t bother me, since I tend to like small, niche businesses with good, solid execution, which Sanchit’s company is demonstrating. Clearly, a multi-million dollar, profitable business can be built here, and I plan to be a user of the service. In fact, I’d like to design a trip to visit Bandhavgarh National Forest in Madhya Pradesh to see tigers, as well as visit the Khajuraho Temple, ideally during the famous dance festival that is held there. Maybe one of the travel agents on TravelTriangle can help put this together for me. For the time being, the company is seeing maximum interest from travelers who want to visit Rajasthan, Kerala and Sri Lanka. BabbleTAB Next, Andrew Jaffa from Jacksonville, Florida, pitched  BabbleTAB , a social media marketing service that generates relevant content for the Facebook pages of small businesses like car dealerships, restaurants, retail, etc. Andrew wants to offer a tablet-based console on location that would capture video and images of customers and post them to the businesses’ Facebook pages. The business model is a subscription service with a small fee per loaded image. We brainstormed today about the adoption barriers and whether consumers would take the trouble to be photographed or recorded. Andrew’s preliminary research says that they would if offered the right incentive. In a car dealership, for example, he thinks a $250 discount would be a substantial enough incentive. I am listening to the use cases but would like to see a statistically significant validation exercise done on the idea. We also discussed Andrew’s proposed tiered pricing model, which I felt was too complicated. A simple flat pricing would be more appropriate. Andrew agreed and is planning to change the model. If you want a deeper relationship with me, you are very welcome to  join the 1M/1M premium program . If you have any questions about the program, please, first study the website, especially  What to expect from the 1M/1M premium program  and the  FAQs . If you have additional questions, please email me, and I would be very happy to respond. Please note that I work exclusively with 1M/1M entrepreneurs.

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Dezains : Zinging it up with caricatures

by Paul Joseph February 10, 2012 Featured

Dezains prints hand-made caricatures on mugs and tees from the photos you provide Lazing in his chair at a job after his engineering, living the life of a sinecure, Ankit was toying with the idea of starting up. As is usually the case, Ankit and his group had a zillion b-plans but thanks to the size of the group, each idea was repressed. Nevertheless, while at his job, Ankit setup a website for selling printed tee shirts but he soon realized that these kind of websites are present at a dime a dozen and would be hard to capitalize. Cofounder, Ankit He didn’t have to look far for something unique as his brother Amrit, the creative guy, was seeing huge traffic for his caricature making service (free at that point). Taking the cue, armored with his business acumen, Ankit took over from where Amrit left it. This was how Dezains took birth. The stage was set but Dezains needed someone to orchestrate the show. Step in Prannoy. Having worked in Bangalore for a year, Prannoy shifted base to Mumbai to get the show going. They invested a lot of time in designing the layout of the website and building the website in-house. Ankit was responsible for building the website while Prannoy set in place the processes. Dezains officially launched on the 23 rd  of August, 2011 and with a  little buzz created pre-launch, Dezains saw 1600 visitors on the first day. They have been growing steadily ever since and process 25-30 orders each day now. Having served over 3000 customers by now, Dezains employs 3 fulltime and 6 part-time caricature artists. Cofunder, Prannoy All the caricatures are hand drawn using a tablet so that it directly comes in a digital format which saves a lot of time over the traditional methods. Dezains has a huge fan base in the online space with more than 50,000 fans on the Facebook page. They have also teamed up with seal sites like Groupon and Anapdeal to accelerate sales apart from running google and facebook ads. In an interesting marketing campaign, Dezains allowed you to send a free gift card on New Year’s day to the person you wanted to by entering his details on the website. Offline, Dezains has sponsored a few college fests which goes a long way in creating a loyal customer base in the college crowd as this is the audience most likely to buy caricature products. In what has been a very interesting journey till now, we’d sure be looking forward for more from the Dezain stable. In a recent post, we had a look at Graphicurry , who’re also doing interesting things in the graphics arena. – Jubin Mehta

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What is the Social and Emotional Climate of Social NetworkingSites: Report

by Paul Joseph February 10, 2012 Featured

Often we focus on the numbers and interactions on social networking sites and not the perception or the emotional aspect involved. A report by The Pew Research Center looks into the social and emotional climate of SNS. 85% of Social Networking Sites (SNS) using adults say that their experience on the sites is that people are mostly kind, compared with 5% who say people they observe on the sites are mostly unkind and another 5% who say their answer depends on the situation according to a report by The Pew Research Center. This report is based on the findings of a survey on Americans’ use of the Internet. The results in this report are based on data from telephone interviews conducted by Princeton Survey Research Associates International from July 25 to August 26, 2011, among a sample of 2,260 adults, age 18 and older. Telephone interviews were conducted in English and Spanish by landline (1,344) and cell phone (916, including 425 without a landline phone). Some interesting findings from the report: 68% of SNS users said they had an experience that made them feel good about themselves. 61% had experiences that made them feel closer to another person. (Many said they had both experiences.) 39% of SNS-using adults say they frequently see acts of generosity by other SNS users and another 36% say they sometimes see others behaving generously and helpfully. By comparison, 18% of SNS-using adults say they see helpful behavior “only once in a while” and 5% say they never see generosity exhibited by others on social networking sites Notable proportions of SNS users do witness bad behavior on those sites and nearly a third have experienced some negative outcomes from their experiences on social networking sites. Some 49% of SNS-using adults said they have seen mean or cruel behavior displayed by others at least occasionally. And 26% said they had experienced at least one of the bad outcomes that were queried in the survey. Those bad outcomes were: 15% of adult SNS users said they had an experience on the site that ended their friendship with someone. 12% of adult SNS users had an experience that resulted in a face-to-face argument or confrontation with someone. 11% of adult SNS users had an experience on the site that caused a problem with their family. 3% of SNS-using adults said they had gotten into a physical fight with someone based on an experience they had on the site. 3% of adult SNS users said their use of the site had gotten them in trouble at work because of something that happened on the site. Click here to view the entire report.

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Travel Startup Inbed.me: Social Booking site for Hostels,Beds and Couches

by Paul Joseph February 9, 2012 Featured

Inbed.me brings together the social web and the travel booking market by allowing people to connect with fellow travellers before their trip even starts. “We strongly believe that travel is not about the places you visit but about the people you meet along the way” says the founder Diego Saez-Gil. Inbed.me was formed in early 2011 and officially launched during Startup Weekend New York. The founders met (yep you guessed it!) in a hostel in Brooklyn, NY. “The inspiration behind InBed.me’s idea came after I did a long trip as a backpacker in Europe that included more than 30 cities. I stayed in hostels in every place and there I met people from different countries travelling in the same way. I made amazing friends and out of these interactions with people with different backgrounds and different ideas I realized that travelling is not about the places, but about the people you meet along the way. Then I thought that with the growing power of online social networks there was an opportunity to build a tool that facilitates these serendipities and connections for travellers, while they are booking a place to stay” says Diego on how the idea came about. Inbed.me has established relationships with hostels, beds and couches in over 700 cities around the world. The success of such a platform depends on the traction and popularity of the platform. On the importance of a community around such a platform Diego adds “Our community is our biggest asset. The more users the platform has the more interesting it becomes. So far we have grown the community of users mainly out of word of mouth. We also have a launched a  referral program  in which users can make money if they invite friends (5% of their bookings for 3 years!)”. So far Inbed.me has focused on the European and American markets but are actively looking at Asia particularly at India as a growth market. “Yes, we are aware of the growth that the online travel industry is experiencing in Asia and India in particular, and we want to be part of it. On one hand we want to grow our inventory of accommodations in India and promote them to travellers in the US and Europe planning to go to India. On other hand we want to grow the community of travellers in India, allowing them to connect with travellers from all over the world” adds Diego on their plans for India.

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Taking a shot at short films; Shamiana Arts

by Paul Joseph February 9, 2012 Featured

Good things come in small packages and so do movies. Short films have become a rage these days with several aspiring filmmakers trying out their hand at this medium of storytelling. It’s crisp, precise, engaging and most importantly brief. Welcome to Shamiana Arts – a platform that connects short filmmakers and short film lovers from all around the world to indulge in a cinematic rendezvous. With a team of 50 people, Shamiana is present across 10 cities and have featured in major film festivals like IFFI, Kala Ghoda and India Fest. They are also a regular partcipant at various college fests. Cyrus Dastur, the founder of Shamiana Arts, talks to YourStory on how Shamiana is carving a niche for itself in the film fraternity by bringing the disorganized short film society together, on a common dais. Although, India has one of the largest film industries in the world, there are very few platforms in the country that allow short-film makers to showcase their talent and more importantly a forum where budding directors can discuss their films. “The idea was to bring the disorganized short film industry across the spectrum together. And we have successfully managed to do that to a large extent, though there’s a lot of work still to be done. Each season brings in new people and new ideas,” Dastur tells YourStory in a candid interview. Right through his school days, Dastur has been an active participant and an admirer of the theatre world.  After his graduation, Dastur pursued a Master’s degree in commercial law and also writes a weekly column for Bombay Mirror on art and entertainment. “Shamiana had its first screening in a small café in Mumbai in 2009 and ever since, it has been a fun filled journey,” says Dastur. Every day, almost a dozen short films are uploaded on their Facebook page . Shamiana is also planning to launch its own YouTube channel soon. “ I always tell people to dream. Sadly in this country, we’ve stopped dreaming. We’re too caught up in little things and we keep changing goalposts. That should change,” Dastur exclaims. Dastur and his venture Shamiana Arts are leaving no stones unturned to help film-lovers take notice of the innumerable short films that our talented young directors make every year, but often get unnoticed under the glamour of our mainstream commercial cinema. We, at YourStory.in wish to congratulate them and their team on the amazing work they have done so far and pray that they continue to get bigger and better in the time to come. For the time being, I am off to their page to get my shortcut to entertainment. Aothor: Krishnakali Sengupta

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Did Apple take a bite off 2tion?

by Paul Joseph February 9, 2012 Featured

This has happened to each one of us. A great brainwave strikes, we put it down on paper, spread the word around and then sleep on it. But then we never get up from the slumber until someone else turns that dream into reality. All one can do now is sulk or maybe take solace in the fact that the idea had substance after all. 2tion.com, now Edserv.in, once envisioned the idea of online tuitions. The idea wasn’t exactly ahead of its times but after some initial hoopla, the project demised due to various reasons. But now, Edserv founder SujaiPillai, brings to our notice the similarity of 2tion to iBooks Author from Apple. Apple launched this e-book authoring software on the 19 th of January, 2012. 2tion’s plan (November 2008) 2tion proposed an online tuition and Ebook management system wherein tutors can publish the ebook and students can directly purchase it. “In this way, students can even have a direct interaction with the author of the book. It would also introduce a very high efficiency in the education system with reduced costs”, says Sujai. iBooks Author (January 2012) Apple describes the software as a tool for educators and smaller publishers to create their own books. Apple launched this at an educational event and hopes to turn authors into educators.  The proprietary software is available only for Mac OS X and is available free at Mac App Store. Corroboration for 2tion’s Idea Many of the ideas remain figments of imagination but with 2tion, the idea took flight but just couldn’t maintain the momentum. The project was submitted to LIBA-TiE Business competition in 2008. The project won many accolades and was mentioned in a report by the Hindu as well. Davison, an America based company which incubates ideas also gave positive feedback to 2tion and was willing to take the project forward but financial problems didn’t allow this partnership to manifest. The Learning I’ve always believed that an idea takes birth at multiple places at any given instant but enters into the world from a place (or two). The strongest ‘will’ usually gives life to the idea. So, if one sticks at it and runs that extra mile, it might make all the difference. All said and done, it requires a lot of guts to keep trudging ahead but eventually it pays off. 2tion did continue working for education and is now present in the market as Edserv . As an effort from our side, we’re supporting Education startups through our campaign,  Edustars , which we hope will recognize many such ideas and bring them to the fore.

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LinkedIn launches Hiring Solutions for India

by Paul Joseph February 9, 2012 Featured

India is fast becoming an important market for the professional networking giant, LinkedIn . Over 13 million Indians are now part of the total 135 million members on LinkedIn. This has prompted LinkedIn India to launch India-specific hiring solutions. So, services like LinkedIn Recruiter now have a localized version with Indian pricing. This will allow Indian recruiters to search for the right profiles.     Some of the other services LinkedIn is offering Indian recruiters are: Jobs Network Work with us advertisements Targeted recruitment ads Talent Direct This is the first time LinkedIn has launched country-specific solutions. The activity on the professional network over the last two years and feedback from Indian firms has led to this move. A number of recruiters approached LinkedIn with requests to have India-targeted talent acquisition campaigns. The pricing of these services are, in some cases, 30% to 40% lower than the global pricing. A service like Targeted Recruitment Advertising will make it possible for Indian recruiters to focus on candidates based on skill, location and experience. Some of the industry sectors that have expressed interest about such services are: IT Engineering Manufacturing The new of the launch of these services has come at the right time. The Indian economy is experiencing rapid growth and sourcing the right talent has become extremely crucial.

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Tech Startup Genius: Collection of the Most Important People, Organizations, and Buzz-words for Tech Entrepreneurs

by Paul Joseph February 9, 2012 Featured

If you are a budding entrepreneur still getting used to the vocabulary of the startup world, this app could come handy. From the lingo to definitions and names of important organizations you come across often, this app uses flashcards to help you equip yourself with the necessary knowledge. Developed by a group of entrepreneurs in the New York & Silicon Valley startup communities, Tech Startup Genius is a collection of the most important people, organizations, and buzz-words that you should know about in order to survive in the startup world. The app is developed by Brainscape, which is a web and mobile study platform. The app uses Brainscape’s confidence-based repetition process. Try the demo version of 15 cards on their website here  OR click here to download it from the iTunes store.

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