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Entrepreneurship

Mohammad Anas Wahaj | 09 feb 2016

Dynamics of interactions, engagement and relationships between entrepreneurs and investors is an essential component of new business development process. During the initial phase of startup creation and at different stages of development and growth of their enterprise, entrepreneurs need investors that can fulfil their financial or fundraising requirements. Prof. Thillai Rajan A. of Indian Institute of Technology (IIT) Madras and Prof. Swati Panda of Institute of Management Technology at Hyderabad, provide insights on how entrepreneurs can improve their chances of getting funded if they understand the differences between various types of investors and pitch to them accordingly. They conducted a detailed survey of 45 investors, whom they classified into three categories - angel investors, independent venture capitalists (VCs) and institutional VCs. All types of investors consider valuation as having a mix of both subjectivity and objectivity, but the quantity of each vary with the type of investor. Higher number of angel investors indicated valuation as a subjective process, while higher proportion of institutional VCs consider valuation as an objective process. When asked about the priorities for the different factors that influence valuation, all investors indicated that founder and management team are the biggest influencer of valuation. Moreover all types of investors gave least emphasis to past financial performance, and focused more on the future prospects. In case of relative importance of valuation, deal structure and return covenants, although all investors gave valuation of deal first preference, but the relative priorities differ. For angel investors valuation is relatively lowest while return covenants the highest. Deal structuring has almost same emphasis for all. Prof. Rajan explains, 'This indicates that entry valuation can be an important determinant of returns. While deal structure and return covenants can help contain losses, valuation probably determines the magnitude of upside gains from the investment.' Knowing the differences between investors can assist entrepreneurs to customize their propositions and deliver effective and targeted communication. Read on...

The Hindu: Right pitching key to fund-raising
Authors: Thillai Rajan A., Swati Panda


Mohammad Anas Wahaj | 08 jan 2016

Technology-driven healthcare startups are finding new opportunities in India's mostly traditional healthcare system. But it is not an easy ride, with lack of digital orientation, policy and regulational scenario, slow pace of change in the healthcare industry etc. Simply put, these healthcare pioneers in India face more challenges than what the normal startups actually do. Mudit Vijayvergiya, Co-founder of Curofy, provides five most relevant challenges that all healthcare startups are broadly facing in India - (1) Slow Growth: Sluggish pace of growth of the industry is hard for survival. (2) Complex Industry: Complex rules and regulations can be obstacles for entrepreneurship and innovative thinking. Various policies are unclear and cause confusion at workplace. (3) Doctors are Tough: Miserable doctor patient ratio of 1:1700 and horrible 1:60000 in rural areas, make availability of doctors rare. Moreover digital healthcare is last on their mind. (4) Monetization: Slow growth of sector makes startups hard to monetize and to have a sustainable revenue model. Moreover social nature of the market and lack of financial ability of patients make it hard for private startups to make money. (5) Lack of Healthcare Mentors in India: Although India has large pool of trained medical professionals, but it has very few seasoned mentors and investors in the health-tech space to share their experience with entrepreneurs. Moreover track record of startups in healthcare is not very good either. Thus India currently lacks a win-win scenario for mentors, investors and entrepreneurs. Read on...

iamwire: 5 Biggest Challenges All Healthcare Tech Startups are Facing in India
Author: Mudit Vijayvergiya


Mohammad Anas Wahaj | 06 jan 2016

Entrepreneurship is an essential component of the market economy. Entrepreneurs seek new opportunities through their extraordinary drive and skills, create enterprises that provide employment and generate revenues, to help economy grow. To successfully take leverage of demographic dividend and build a thriving economy, India needs to focus on entrepreneurship and continue to build an ecosystem that facilitates new venture development. As Kunal Bahl, Co-founder of Snapdeal, rightly said recently, 'India needs more entrepreneurs and less policy.' Given below is the partial list of Indian entrepreneurs that have created startups and hold a great promise in 2016 - (1) Abhinav Asthana, Postman (2) Jaydeep Barman, Faasos (3) Sahil Barua, Delhivery (4) Abhiraj Bhal, Urbanclap (5) Hitendra Chaturvedi, Greendust (6) Sunil Coushik, Prijector (7) Abhishek Goyal, Tracxn (8) Nalin Gupta, Auro Robotics (9) Virendra Gupta, Dailyhunt (10) Amit Jain, Cardekho (11) Nithin Kamath, Zerodha (12) Mohit Kumar, Roadrunnr (13) Byju Raveendran, Byju's (14) Abhinav Shashank, Innovaccer (15) MN Srinivasu, Billdesk (16) Rajesh Yabaji, Blackbuck. Read on...

The Economic Times: 16 startup founders to watch out for in 2016
Author: NA


Mohammad Anas Wahaj | 30 dec 2015

The technology-enabled interactions of consumers and businesses have provided opportunities to capture data and utilize analytics to improve business processes and enhance products and services for customers in variety of industries. The analytics industry ecosystem is mushrooming with numerous vendors, from niche providers to one-stop solutions that include capture, storage, access and study of data for valuable insights. Suhale Kapoor, Co-founder of Absolutdata Analytics, captures various aspects of the analytics industry and its evolution in 2015 and explains what are the expected trends in the year ahead. Trends in 2015 - Growth of new startups and digital marketing tools; Increased use of analytics and Business Intelligence (BI); Rise in use of social media and social advertising on mobile; Rapid expansion of Internet of Things (IoT); Video content; Content marketing and predictive analytics; End-user experience and integration of online and offline content to improve service standards. Trends for 2016 - Shift towards cloud; Streaming architectures will hasten data computations; Visuals will come to rule; Data integration tools will assume more importance; Centre of Excellence (COE) will equip a business in understanding the peculiar needs and challenges for a data scientist; The Internet of Things (IoT) is all poised to bring about a data revolution; Non-analysts will start to dabble in data. Read on...

DATAQUEST: The Analytics Sector - Emerging trends and forecast for 2016
Author: Suhale Kapoor


Mohammad Anas Wahaj | 21 nov 2015

India's healthcare expenditure market is about US$ 100 billion. According to a report by Internet and Mobile Association of India and KPMG released in early 2015, India have about 159 million mobile internet users and it is projected to reach more than 300 million by 2017. Gartner predicts that Indian healthcare providers will spend US$ 1.2 billion on IT products and services in 2015. While industry estimates the healthcare sector in India to reach US$ 160 billion by 2017 and US$ 280 billion by 2020. Number of startups in India are exploring opportunities that are offered by these conditions. Saurabh Uboweja, co-founder of Credihealth, says 'Transparency, credibility and access to health care are some of the prime challenges that plague the Indian healthcare...Before tapping international patients for medical tourism, there existed great potential within India itself, where hundreds of thousands of patients throng city hospitals everyday from the hinterland.' According to Rohan Desai, founder of PlexusMD, 'In the US, health care expenditure accounts for nearly 10% of its GDP (compared to 5% of GDP in India), which basically means there is huge room for growth in India.' Nirmall L. Kumbhat, director of sales and marketing at another health related startup Godoctr (founded by Ajay Goel), says that it is seeking venture capital funding and focusing on medical tourism market. While Practo has already obtained various rounds of funds from global investors and has been growing since it was founded in 2008 by Shashank ND and Abhinav Lal. Read on...

Business Standard: Technology start-ups ride health care wave
Author: Sohini Das


Mohammad Anas Wahaj | 13 sep 2015

India's startup ecosystem is bubbling with energy and enthusiasm with large venture capital investments pumped into it. This gives startups opportunity to attract the best talent with attractive compensation packages. The phenomenon is giving rise to heightened competition for talent with MNCs that have also started to offer joining bonus and stock options. The beneficiaries of this are the freshly minted campus recruits of the Tier-1 engineering colleges. According to the latest study by Zinnov, 'On campus compensation by MNCs include bonus and stock options varying between Rs 4 lakh to Rs 10 lakh. The average CTC (cost-to-company) offered by MNCs in Tier-1 colleges was around Rs 14.3 lakh, while startups offered Rs 16.5 lakh. The CTC includes base salaries, variable pay, joining bonus and stocks.' Sandeep Moorthy of Zinnov says, 'MNCs were paying Rs 8 to 9 lakh in 2011 as basic pay, but now the figure has gone to almost Rs 12 lakh. The fixed in-hand pay is comparable for MNCs and startups. The difference is in the value of stocks offered by startups.' According to Sumit Jain, co-founder and CEO of Commonfloor.com, 'We hired 50 from Tier-1 colleges like IITs and IIMs for these roles with compensation packages ranging between Rs 10-25 lakh, that includes ESOPs, retention bonus, equity and cash.' Aneesh Reddy, co-founder and CEO of Capillary Technologies, says 'About 10% of entry-level salary consists of stock.' Read on...

The Times of India: MNCs compete with startups for talent, match salary, offer esops
Authors: Shalina Pillai, Shilpa Phadnis


Mohammad Anas Wahaj | 05 sep 2015

Shortage of specialized care is one of the critical challenges that India's healthcare system is currently grappling with. As affluence and awareness of Indian population increases, the demand for better specialist-monitored healthcare is expected to rise. India's specialist availability data for selected fields per 1 lakh population is - Cardiologist (5000), Dermatologist (7000), Radiologist (10000), Ophthalmologist (11000). Although US too has shortages in terms of specialists, but the number of specialists available is far better when compared to India - Cardiologist (31500), Dermatologist (10000), Radiologist (25000), Ophthalmologist (19000). So how is India going to tackle the challenge of specialist shortages? Dave Richards of Unitus Seed Fund, is optimistic about the transformative changes that mobile technologies will bring to India's healthcare landscape. He explains five main factors that need to be addressed through technological interventions - (1) Services of specialists must not only accessible, but also affordable to both urban and rural India. (2) Services must be from a trustworthy source. (3) Convenience is a major factor for consumers. (4) Providing consultation needs to be convenient for specialists. (5) Specialists need to earn money. According to him, combination of ubiquitous smartphones and high-speed data networks can create a large-scale affordable platform for delivering healthcare services. Diagnostic services is one area that can be substantially transformed through technological advancements and innovatons - Cardiac Care: Transmitting an ECG image through a smart device to on-demand cardiologist; Dermatology: 85% of skin issues can be fully diagnosed by a dermatologist with a photo taken by a smartphone; Radiology: CT scans, X-rays, ultrasounds etc can be captured by technician and then transmitted to remote radiologists; Ophthalmology: Eye screaning for diseases and refraction issues can now be done by technicians using low-cost devices, routed to ophthalmologists via mobile networks. Read on...

Forbes: The smart way of providing affordable health care
Author: Dave Richards


Mohammad Anas Wahaj | 04 sep 2015

Use of technology for customer interactions, particularly for large businesses, is often seen as an automation and cost cutting exercise. And for customers it may not all be a pleasant experience. In case of small and medium businesses (SMBs), considering their limited budgets and other challenges, use of technology as a customer support tool should be a well thought out decision. It should provide them with cost savings alongwith building lasting customer relationships. Varun Shoor, founder and CEO of Kayako, provides ways in which SMBs can utilize technologies to enhance customer experience and create best value for their businesses - (1) Understand customer context: Have clarity of purpose; Evaluate context of customer inquiries; Availability of fast and easy access of information to resolve customer iquiries; Updating and sharing information with other departments (2) Deliver personal service at scale: Try to know your customer better; Understand customer's interaction points across all channels; Seek customer's needs and wants through surveys (3) Stop firefighting, start anticipating: Find ways to interact with customers even if they aren't; Use effective CRM tools; Utilize customer analytics (4) Customers want to help themselves: Provide them with self-explanatory information and tools; Give access to effective FAQs, intelligent search, tutorials and videos. Read on...

Tech.co: 4 Ways Technology Helps Build better Customer Relationships
Author: Varun Shoor


Mohammad Anas Wahaj | 31 aug 2015

India's healthcare has various systemic challenges that include lack of specialist rural care, doctor-patient ratio less than the WHO prescribed figure of 1:1000, long wait times and less time available for doctor consultation. Moreover the rise of non-communicable diseases (NCDs) is a cause of serious concern. Anil Kumar, Founder & CEO of SmartRx, explains how technologies like cloud services, wearable devices, internet of things (IoT) can tackle some of these challenges and mentions four areas where healthcare transformation is happening in India with a promise of better prospects in future - (1) Improve Access: Online appointments and remote consultations. (2) Care Delivery: Post-discharge care and patient monitoring; Access to health reports and data. (3) Distribution: Home health services; Delivery of medicines and diagnostics services. (4) Health Management: Wellness apps and tools; Disease management and niche online communities; Personal health devices and wearables. Read on...

iamWire: Healthcare Transformation in India Through Technology
Author: Anil Kumar


Mohammad Anas Wahaj | 29 jul 2015

The US-India Business Council (USIBC) expects collaborative opportunities between India and US in the medical devices sector. This will boost investments and skilled human resources to the sector. USIBC seeks from the Indian government to remove barriers to doing business in India and proposes a separate regulatory framework for medical devices, that are currently considered as pharmaceuticals under the Drug and Cosmetics Act of India. It estimates the Indian medical devices industry to grow from the current US$ 4.4 billion (4th largest in Asia) to US$ 7 billion by 2016. 'Make in India' have potential to drive the sector through innovation and investments and developing an ecosystem for medical devices industry. According to Maulik Nanavaty, SVP of Boston Scientific and the head of the USIBC delegation visiting India, 'India has made considerable strides in developing innovative industries across a number of sectors and maintains strong potential to do the same in medical devices.' USIBC Director and Legal Counsel Amy Hariani says, 'Medical devices industry is going through rapid transformation in India and is projected to grow at a higher rate as health insurance becomes more widely available and the country's consumers continue to demand better healthcare services.' Read on...

Moneycontrol: Indian medical device industry can grow to $7bn by 2016: USIBC
Author: NA

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