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efiletax · 2 months

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Anticipating India's Business Landscape: 20 Lucrative Ventures for 2025

Forecasting specific profitable businesses for the future involves a degree of uncertainty and depends on various factors such as market trends, economic conditions, technological advancements, and consumer preferences. However, based on current trends and emerging opportunities, here are 20 potential profitable business ideas that could thrive in India by 2025:

Renewable Energy Solutions: With a growing emphasis on sustainability and clean energy, businesses offering solar, wind, or other renewable energy solutions are poised for growth.

E-commerce Platforms: The e-commerce sector is expected to continue its rapid expansion, offering opportunities for niche marketplaces, delivery services, and e-commerce infrastructure providers.

Health Tech and Telemedicine: The healthcare sector is undergoing digital transformation, creating opportunities for telemedicine platforms, health monitoring devices, and remote healthcare services.

EdTech: The education technology sector is witnessing significant growth, driven by demand for online learning platforms, skill development courses, and virtual classrooms.

Agri Tech: Innovations in agriculture technology, including precision farming, smart irrigation systems, and crop monitoring solutions, present lucrative opportunities to improve agricultural productivity.

Fintech: Financial technology startups offering digital banking, payment solutions, peer-to-peer lending, and blockchain-based services are expected to thrive in India's evolving fintech landscape.

SaaS Solutions: Software-as-a-Service (SaaS) providers catering to specific industries or business functions, such as HR, accounting, or customer relationship management, have considerable growth potential.

Health and Wellness Products: The demand for health and wellness products, including organic foods, nutritional supplements, and fitness equipment, is expected to rise with increasing health consciousness among consumers.

Electric Vehicles (EVs) and Charging Infrastructure: With a push towards electric mobility and infrastructure development, businesses involved in EV manufacturing, charging stations, and battery technology are poised for growth.

Remote Work Solutions: As remote work becomes more prevalent, businesses offering collaboration tools, virtual office solutions, and cybersecurity services for remote teams are likely to see increased demand.

AI and Machine Learning Services: Businesses leveraging artificial intelligence and machine learning technologies to offer predictive analytics, automation solutions, and personalized experiences have significant growth potential.

Waste Management and Recycling: With growing environmental concerns, businesses focused on waste management, recycling, and sustainable packaging solutions are expected to gain traction.

Personalized Healthcare Services: Companies offering personalized healthcare services, such as genetic testing, precision medicine, and concierge healthcare, could capitalize on the growing demand for personalized wellness solutions.

Electric Mobility Solutions: Apart from EV manufacturing, businesses offering electric bicycles, scooters, and last-mile transportation solutions are expected to thrive in urban areas.

Renewable Construction Materials: The construction sector is increasingly adopting sustainable practices, creating opportunities for businesses offering renewable construction materials, eco-friendly building solutions, and green infrastructure.

Digital Marketing and Content Creation: With the proliferation of online platforms and social media, businesses offering digital marketing services, content creation, and influencer marketing are likely to see continued growth.

Smart Home Technology: As homes become more connected and automated, businesses offering smart home devices, IoT solutions, and home automation services could see increased demand.

Urban Farming and Vertical Gardening: With urbanization on the rise, businesses focusing on urban farming, vertical gardening, and hydroponic systems could address the growing demand for locally sourced produce.

Personal Finance and Wealth Management: As individuals seek to manage their finances more effectively, businesses offering personal finance apps, investment advisory services, and wealth management solutions could see significant growth.

Virtual Reality (VR) and Augmented Reality (AR) Experiences: With advancements in VR and AR technology, businesses offering immersive experiences, virtual tours, and interactive entertainment could capitalize on the growing demand for digital experiences.

While these business ideas hold potential for profitability in India by 2025, entrepreneurs should conduct thorough market research, assess demand trends, and evaluate competitive landscapes before venturing into any business opportunity. Additionally, adapting to evolving market dynamics, consumer preferences, and regulatory changes will be essential for long-term success in any industry.

#business #future #futuristic #future business ides #business ideas #business growth

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kisaantrade · 10 months

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Unlocking the Potential of Agriculture B2B Trade Portals for New Startups

The agricultural sector in India is at a turning point. When India gained its independence from Britain 75 years ago, agriculture dominated the economy and accounted for more than 50% of its GDP. India continues to be one of the largest and most diverse food producers in the world, and agriculture—which accounts for more than 20% of India's income—remains a key sector of the country's economy.

However, serious issues prevent the country from reaching its full potential. If the problem could be resolved, a thriving agriculture sector would benefit the economy and greatly enhance farmer livelihoods and income. With a 50% increase from its contribution in 2020, agriculture could contribute about $600 billion to India's GDP by 2030. To get there, though, India must boost the sector's productivity and growth. Let us discuss the potential of agriculture B2B trade portals for new startups.

Indian agriculture has already benefited from Ag Tech

The number of agtech start-ups in India increased from less than 50 in 2013 to more than 1,000 by 2020, thanks to growing farmer awareness, increased internet access in rural areas, and the need for increased efficiency in the agricultural industry. 3 Additionally, the regulatory environment in India is gradually changing to support the expansion of digital technologies in agriculture.

Agtech in India is still growing, with innovations coming from both start-ups, or "agri fintechs," and major technology firms. Core companies in the value chain are using digital technologies like "super apps" to innovate and recognise the potential of agriculture B2B trade portals for new startups.

Suppliers are evolving into buyers, and financial services are being added by advisers

1) Agrochemical, fertiliser, and seed suppliers are utilising technology to develop direct-to-farmer sales channels that eschew middlemen and retailers. For instance, through its digital platform, nurture.farm, UPL (traditionally a core player in agrochemicals) offers mechanization services and agrochemicals to farmers. Additionally, the business has grown to offer market, advisory, and financing services.

2) Businesses, including banks and nonbanks, that specialize in lending money through farm and rural loans are utilising technology to better understand farmers, offer specialized products, and lower the risk of loans. As an illustration, the State Bank of India (SBI) created the YONO Krishi app to address the financial, input, and advisory needs of farmers.

3) Farm equipment retailers have begun offering mechanization as a service to farmers. Mahindra, for example, offers a tractor rental service.

4) Companies that deal with the buying, processing, or selling of agricultural goods have begun to integrate backward into the supply chain and build connections to the farmer's market. For instance, over the past 20 years, ITC, a core output player, has expanded direct-from-farm procurement using its e-Choupal network. The super app for ITC MARS has now been released. The app gives farmers access to contemporary equipment, high-quality inputs at reasonable prices, and financing through a partnership model.

Agriculture's potential B2B trade portals for emerging businesses

1) Wide Range of Customers Available: Startups have immediate access to a broad and diverse customer base made up of potential partners and customers in the agriculture sector thanks to B2B trade portals. As a result, startups are no longer required to make significant investments in creating their own customer networks from scratch.

2) Market Validation and Exposure: Startups can get important market validation and exposure for their goods or services by taking part in an agriculture B2B trade portal. They can increase their visibility and draw in potential clients by showcasing their offerings to a niche market of companies that are only interested in agricultural products.

3) Streamlined Sales and Marketing: B2B trade portals provide startups with a streamlined sales and marketing channel. For startups, they offer a centralized platform where they can create product listings, interact with potential customers, handle inquiries, and carry out transactions. This streamlines the sales procedure and enables startups to concentrate on developing relationships with customers.

4) Partnerships and Networking: B2B trade portals act as platforms for networking, bringing together startups and potential customers, suppliers, and distributors in the agriculture sector. Through these connections, startups may be able to scale their businesses and broaden their reach through valuable partnerships, collaborations, and joint ventures.

5) Reduced Time and Costs: For startups, joining a B2B trade portal for agriculture can greatly reduce the time and costs involved with entering the market. Startups can use the existing platform to reach potential customers, streamline transactions, and hasten their go-to-market strategy rather than developing their own sales infrastructure.

6) Credibility and Trust: Participating in a reputable B2B trade portal helps startups gain credibility and trust. The portal's verified profiles, product reviews, and customer ratings instill trust in prospective customers. This can assist new businesses in breaking through the initial trust barrier and establishing themselves as dependable suppliers in the agriculture sector.

Significant Obstacles for Agritech Startups

1) Information on Pre-harvest and Sowing Activities: Large businesses that rely on agricultural products want details on sowing and pre-harvest activities leading up to harvest. They also need an example of how farming communities can use technology to create benefits that last, like weather alerts on phones, advice on best farming practices, and guidance on how to deal with pest attacks.

2) A Lack of Visibility and Low Productivity: Another factor that has an impact on the agritech industry is low productivity and a lack of visibility in the supply chain. Blockchain technology and artificial intelligence are being used by many startups to address these problems.

3) Governmental Measures: Although the government has changed its agricultural policies, there is still a long way to go.

4) Lack of Commercial Guidance: Many of the existing agri-enterprises are having trouble growing their businesses past a certain point, despite experiencing some initial success. Project incubators typically offer such assistance to start-ups by assisting them with networking, building capacity, gaining access to information and resources, and other types of required expertise. Unfortunately, few of the roughly 300 incubators and accelerators currently in operation possess the knowledge and skills necessary to support farm-oriented businesses.

5) Droughts, Water Availability, and Climate Change: According to trends, the nation is concerned about disaster management, particularly when it comes to drought. To solve these issues, startups should concentrate more on cutting-edge technology.

How can Kisaan Trade assist new startups in maximising the benefits of agriculture B2B trade portals?

For new startups, Kisaan Trade can be extremely helpful in maximising the potential of agriculture B2B trade portals in the following ways:

1) Dedicated Platform for Agriculture: Kisaan Trade targets the agriculture market specifically, giving startups a dedicated space to network with potential customers, suppliers, and collaborators. Startups can benefit from the agricultural expertise and niche audience of Kisaan Trade by joining, increasing their visibility, and gaining access to pertinent opportunities.

2) Access to a Wide Customer Base: Kisaan Trade provides startups with immediate access to a large customer base made up of companies in the agriculture sector. This saves startups the time and effort of starting from scratch when creating their own customer network. Startups can reach a large audience of potential customers and improve their chances of generating sales leads by showcasing their goods or services on Kisaan Trade.

3) Increased Visibility and Branding: Kisaan Trade gives startups a platform to build a thorough profile showcasing their products, business details, and domain knowledge. The targeted audience benefits from increased visibility and brand recognition as a result. Startups can use the platform's features to highlight their distinctive selling propositions and set themselves apart from rivals, drawing in potential clients.

4) Opportunities for Networking and Collaboration: Kisaan Trade promotes networking and cooperation between start-ups and other agriculture sector participants. Startups have the opportunity to connect with potential partners, suppliers, distributors, and service providers, paving the way for fruitful partnerships and collaborations. Startups may be able to do this to increase their reach, gain access to resources, and find new growth opportunities.

5) Market Trends: Kisaan Trade might provide market trends, analytics, and insights tailored to the agriculture sector. Startups have access to information on consumer preferences, market trends, pricing dynamics, and market demands. Startups can use this information to understand the market environment, spot opportunities or gaps, and modify their strategies to meet changing customer needs.

Conclusion

In conclusion, Kisaan Trade is a useful B2B platform created especially for the agriculture sector. It functions as a specialized platform that links farmers, vendors, distributors, and other companies engaged in the agricultural industry. Businesses, especially startups, can access a wealth of advantages and opportunities by joining Kisaan Trade.

With immediate market access and exposure to potential buyers in the agriculture sector, Kisaan Trade gives startups access to a large customer base. The platform improves visibility and branding, enabling startups to present their goods or services to a specific audience and stand out from rivals.

You can reach out to us at any time with questions or for more information.

#B2BTradePortal #KisaanTrade #B2BTradeMarketplace

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worldspotlightnews · 1 year

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IT, Artificial Intelligence, Fintech Startups Have Highest Hiring Intent in 2023, Says Survey

The Federation of Indian Chambers of Commerce and Industry (FICCI) in its Startup Hiring Trends survey has stated that IT, agri-tech, artificial intelligence, fintech and manufacturing are among the industries with the highest hiring intent. According to the 2023 Startup Hiring Trends survey conducted by FICCI in partnership with Randstad India, 80% of early-stage startups (those with fewer than…

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vdoittechnology · 2 years

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IT SERVICES COMPANY VDOIT TECHNOLOGIES PVT. LTD. PARTNERSHIP WITH IBM

VDOIT Technologies Pvt. Ltd., a leading TECH startup IT services company, has become an IBM Business Partner. The announcement comes as VDOIT Technologies Pvt. Ltd. continues to expand and bolster its network of important partners globally.

As a certified Business partner,VDOIT Technologies Pvt. Ltd. a leading tech startups in India will have access to the vast information resources, expert insights, accreditation programs, and instructional tools offered by IBM.VDOIT Technologies Pvt. Ltd. is now able to provide IBM customers with access to its high-performing infrastructure, ensuring they have the most recent IT-related technologies like IBM Watson to power their current applications in digital transformation, FinTech, AI, cloud computing, Enterprise Business Solutions, Industry 4.0, supply chains, healthcare, e-Government, Legal Tech, Audit Tech, etc.

“This marks a significant turning point for the business”, said Mr.Narinder Kamra, Founder and CEO of VDOIT Technologies Pvt. Ltd.” We are grateful that a renowned market leader like IBM has acknowledged our technology advancements and team’s efforts. This reinforces our dedication to not just bring but also to promote the next iteration of technologies while also giving businesses access to the full suite of features available in the platform, helping them to improve their business processes and advance their digital transformation efforts.”

About VDOIT Technologies Pvt. Ltd.

VDOIT Technologies Pvt. Ltd. is a leader in IT services based in Gurugram, India. Since its launch in 2015, VDOIT’s current team of 70+ professionals with primarily global clients in the USA, Canada, UK, Germany, Kazakhstan, and Vietnam to name a few, to deliver a delightful and seamless customer experience to more than 50M global online users. Co-founders of the company have 22+ years of software development experience with top 100 fortune companies such as Apple, Lowes, FedEx, and Cognizant. VDOIT Technologies Pvt. Ltd. supports a variety of web-based and digital enterprises focusing on the following service offerings across various industries:

1. Digital Transformation

2. AI/ML-based Software Development

3. IoT & Blockchain-based solutions

4. Mobile Development

5. Cloud & DevOps

6. Quality Assurance & Testing

VDOIT Technologies Pvt. Ltd. has a proven track record in delivering robust enterprise solutions in the domains such as Sports Tech, Healthcare, Agri-Tech, Assets Management, Real Estate, FinTech, Talent, Communication, Legal Tech, Data monitoring & Data Analysis.

VDOIT’s knowledge and experience with proven tools and frameworks allow clients to achieve a higher return on investment and effectively deploy staff resources while supporting flexibility and corporate objectives. VDOIT Technologies Pvt. Ltd. has consistently remained a strong and steady vendor/partner to its clients, as evidenced by its long-standing client engagements.

VDOIT’s agile approach to service delivery ensures that the main target is always on “Value Derived for the Client”. VDOIT Technologies Pvt. Ltd. believes in end-to-end IT solutions that ensure returns, value, and growth. Our team is consistently doing research in applying the technologies to resolve the most complex issues of the world and that’s what differentiates us from others. We work for all sizes of enterprises that believe in innovations and want to invest in smart solutions. we’ve intelligent and customized solutions for those startups who have big dreams but are looking for technical strength to fulfill the dream in budgets.

Website:https://www.vdoit.in/

#startup #CUSTOM SOFTWARE SOLUTIONS #it services

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freepressjournals · 2 years

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Agriculture and semiconductor chips, the two main focus points says S Ravi

S Ravi, makes his views on startups and the Focused sectors in the current budget which he things would be addressed as key factors as we are into two years of pandemic. The former BSE chairman and the board member of many reputed companies, says that the startups should be very versatile in the current scenario. He says that any new company is unique in its own way but there is a segment in which they work. There is a beta factor or the risk factor in each segment. There are analytical tools to compare what other similar or not exactly similar, some of the peer groups would have done. So you can see what has been the failures of others, say S Ravi.

What can be the success story of others and how you can beat them, it can be done through very good artificial intelligence and data analytic way. That is what Ravi feels the key. If we peep into the fintech space, it is crowded but who’s going to succeed are those who have strong business model and who have learned from other people’s experience. Those who can make themselves unique in their own space can create glory. Now everyone is talking about cryptocurrency and many companies’ platforms but who is unique. So that uniqueness along with artificial intelligence and the path one has caliber-ate within themselves. One has to measure each stage and move forward and that’s the only way to success, says the experienced accountant.

Policy risk is perpetual. For example digital banking is one policy which is going to be introduced. If you need to succeed one has to evaluate where do they fit in such a perspective policy. In the crypto space Mr. Ravi saw a very unique thinking. A company said we are not platform or an exchange but we are a university. We will teach crypto. So there is no policy that is to drive a crypto university or a crypto education. This is a classic example where within the space you can find safe places where you can develop yourself. S Ravi also think it is a very important to have a reasonable forecast. We know where the global trends are moving. For example, crypto and gaming. The global trends are visible. Nowadays you see a 3 year old child or a 5 year old child now is interested in gaming. That’s where the trend going. One has to be very clear about the trends that are there the trade off. Also very clear about the direction which one has to take within the policy frame work and to know what is the policy that is going to come and where you need to be at that moment.

From his expertise, S Ravi tells that any policy in India takes 5 to 7 years. For example the insurance sector, till it did not open it was 24% then where it went so it takes that ten years period for a policy. One has to ride with that forecast and within that policy one has to workout the policy and we can take the risk back.

Mr. Ravi feels logistics is very important. It was very evident during the pandemic and how logistics has made a very important role in the whole space of supply chain. Another area which will also include is rural logistics. Ravi has seen a lot of push on the technology with agriculture that is soil testing and many other such things. And from a budget viewpoint he feel very strong focus will be on agriculture and semiconductor. But the most important thing, is the import substitution item. This needs to be encouraged and that is what he feel especially in the handicrafts and export sector because export of handicrafts and textile. Textile is the second largest employer today and have a very steep competition with Bangladesh, Vietnam and all these other countries. Inorder to put our footprints into the global market I think the textile exports needs to be promoted. And similarly agri exports need to be promoted. You have seen the importance of haldi in this pandemic and such organic food will play a big role in this budget and see a lot of thoughts coming into it.

#SRaviBse #SethurathnamRavi #SethurathnamRaviBse #SethurathnamBse #SRaviBseChairman #SethurathnamRaviChairman #SRavi

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opportunitywow · 3 years

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Expression of Interest: UN Capital Development Fund (UNCDF) Agritech Challenge 2021

Deadline: August 31, 2021

Call for Expression of Interest is open for the UN Capital Development Fund (UNCDF) Agritech Challenge 2021. The UN Capital Development Fund (UNCDF), in partnership with Atal Innovation Mission, NITI Aayog (Govt. of India); Bill & Melinda Gates Foundation; Rabo Foundation; International Fund for Agricultural Development (IFAD); and Bayer, is launching an innovation platform to enable cross-border exchange of innovations, insights and investments.

The first initiative of the Platform is the Agritech Challenge, with a focus on improving financial health of smallholder farmers. The Program will support agritech and agri-fintech startups to expand to international markets, across Kenya, Malawi, Uganda & Zambia in Africa, and Malaysia, India & Indonesia in Asia.

The selected participants will get access to industry, investor & market linkages, along with mentorship from sector experts to help them build and test their solution in their chosen international market, with subsequent support on scaling the solution as well.

Benefits

Post-program support to scale up the solution.

Opportunity to be considered for a financial grant.

Eligibility

A startup registered in any of the participating countries, wit at least 2 years operations;

At least $150,000 average annual revenue in the last 2 years; or $100,000 avaerage annual revenue in the last 3 years;

Live solution with an active customer and/or user base, and not in development/testing phase;

The applicant must address at least one of the following three identified challenge areas in their chosen international market.

Participating Countries

Africa: Kenya, Malawi, Uganda, Zambia

Asia: India, Indonesia, Malaysia

Evaluation Criteria

All eligible applicants will be evaluated against the following criteria:

Solution innovation and differentiation and relevance in addressing market gaps.

Commercial scalability potential, P&L and internatinal market readiness.

Impact on lives of smallholder farmers and climate, and alignment with SDGs.

Organisational infra, team and expertise to manage and sustain international expansion.

Application

The applicant must submit a complete application form online before 30 August 2021 (23:59 (EDT).

Click here to apply

For more information, visit UNCDF.

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#OpportunityWow

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projectslibnigeria · 3 years

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The UN Capital Development Fund (UNCDF) Agritech Challenge 2021 for agritech and agri-fintech startups.

The UN Capital Development Fund (UNCDF), in partnership with Atal Innovation Mission, NITI Aayog (Govt. of India); Bill & Melinda Gates Foundation; Rabo Foundation; International Fund for Agricultural Development (IFAD); and Bayer, is launching an innovation platform to enable cross-border exchange of innovations, insights and investments. The first initiative of the Platform is the Agritech…

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#(uncdf)#2021 #agri-fintech #agritech #and #capital #challenge #development #for #fund #ideas #research #startups.#the

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analyticsindiam · 4 years

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How MeitY Startup Summit Sparked New Energy For India Innovators

Ravi Shankar Prasad, Union Minister for Electronics and Information Technology, initiated the MeitY Startup India Summit this week. The event brought together many industry leaders, government officials, entrepreneurs and venture capitalists under one roof to discuss how regulators can boost the startup ecosystem in the country. During the inauguration, Prasad said that the Digital India programme is finding worldwide reverberation. He added that the “digital hunger” across the country should be tapped, and instructed the officials to digitally map entrepreneurs and innovators in rural India. “Innovation ought to be utilised to change rural India and make roads for those in small towns and Tier II and Tier III urban areas,” said Prasad during the event. He likewise propelled a software products library which will go about as a single-window point to examine Indian software product database. The Minister said that Digital India ought to turn into a reference point for inclusion, healthcare training and entrepreneurship. Here are the other key takeaways from Startup India: MeitY Startup Hub (MSH) Talking about how utilising innovations like artificial intelligence would catalyse the financial development of India, Union Minister Prasad unveiled the MeitY Startup Hub (MSH). The hub is viewed as a stage forward towards uniting key partners and new businesses under one rooftop. Further, they will work with specialists to catch feasible procedures to bring the focal point of funding and government around their methods and systems. The platform will use and bring startup mediation program to the software technology parks of India (STPI). They are intended to advance business enterprise and make a supporting system for STPI CoEs in technologies, including digital payments and fintech, blockchain, IoT, artificial intelligence, etc. Startup India: MoUs Signed By Software Technology Parks of India As a nodal office, software technology parks of India (STPI), an association under MeitY, is used for executing the startup hubs. STPI has so far made 28 centres of excellence (COE). During the MeitY Startup Summit 2019, STPI further signed four Memorandum of Understandings (MoUs) with Intel India, IIM Calcutta Innovation Park, Pontaq and IBM. Furthermore, these MoUs are additionally expected to interlink startups with VCs, enterprises and government offices. These MoUs can likewise be viewed as a considerable advance forward for different STPI CoEs like IoT OpenLab at Bengaluru, ESDM incubation unit at Bhubaneshwar, VARCoE at Bhubaneshwar, Autonomous Connected Electric Shared Vehicles, CoE at Pune, MedTech and wellbeing informatics CoE at Lucknow, Rural and Agri IoT CoE at Guwahati, BlockChain CoE at Gurugram and IoT in Agri CoE at Patna-Motihari and others. Startup India: Strengthening Patent Filing and Intellectual Property Addressing the concerns related to the state of intellectual property in India, Prasad announced the patent grant timeline from four years currently to less than a year. This is to help innovators in the fast-moving pace of global innovation. “India should become a big centre for patent and Intellectual Property,” the Minister said. To empower documenting of International Patents, a Scheme Support International Patent Protection in Electronics and IT (SIP-EIT) has been set up. Under the plan, MeitY expects to give money to help support Educational Institutes, MeitY societies, and so forth, for arranging courses and workshops on IPR mindfulness among different partners. Outlook Indicating trust in the capacity of new businesses to bring development and drive business in the Indian economy, PM Modi had said that the thriving Indian startup space would assist India with achieving the $5 trillion focus for the economy. The Startup India plan has assumed a remarkable job in directing the enterprising soul of India's trailblazers and has infiltrated Tier II and III markets as well. With a lot of activity from the local and state governments, new businesses and beginning time organisations have been given each support and impetus to develop and innovate. At present, India has around 23,974 DPIIT listed companies in the nation. Read the full article

#AIstartup #MeitY #ravishankarprasad #startupindia

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yourbusinessconsulting · 5 years

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What Really Drives SMEs to Grow?

SMEs are Small and Medium Enterprises defined by Government by their revenue. In India the Government has defined businesses with revenue upto INR 50 million as a micro enterprise, those with sales between INR 50 million and INR 75 million will be deemed as small and those with revenue between INR 750 million and INR 250 million will be classified as medium-sized enterprises. It is well accepted fact that SMEs play a key role in driving overall growth of economy. SMEs are drivers of economic growth and job creation in developing countries. They face challenges in terms of capital expenditure, labor and other different issues. Here in this article, we have tried to identify the key factors that help SMEs to grow? Management Practices: In any business, growth is not linear. Therefore management practices play a crucial role in ensuring the growth of the business. The business is successful only when there is a high degree of operational and management efficiency that leads to higher productivity. Therefore the management strategy should fit to the core business of the company and be ready to adapt change quickly. The key areas that have been identified for improving management practices are internal controls, labor benefits, strategic planning that includes fund raising and innovation. If these areas are managed well then the company can scale up faster that the market. They should have feasibility studies conducted for the business and dynamically update the data as required. Talent Management: Employees are of great importance in ensuring growth of a business. Businesses become successful when they align staff performance to wider business targets. This helps in augmenting the process of achieving short term and long term goals. In that context, it is worthy to mention that, not only productivity of staffs but also their behavior must be aligned with overall organizational goal. Teams and employees are able to achieve monthly goals set when they are motivated, compensated adequately and there is a desire to achieve the broader organizational goals. Some of the key factors that we have identified for talent management are: It is understandable that for SMEs there is not much space to promote employees. Therefore they can be delegated greater responsibility so that it sums up to more of a horizontal promotion for them. Create physical or online groups in the office so that they can get involved in some activity on a Friday. There can be several such activities but the broader point that needs to be reflected is how employees can be kept motivated at all times. Adoption of Technology: If we are not technologically up to date we will suffer as we’re going through a digital revolution. The companies that failed to make themselves technology intensive have disappeared from the market. Technology can be costly in initial stages of the business. But, it gives considerable competitive advantage by reducing cost of productivity and enhancing quality of productivity. It is difficult for SMEs to install robotics in its operations. Dedicated industrial robots can limit small and mid-sized manufacturers who often have small production batches and require fast change-over. But, these issues are solved by innovative Universal Robot. It is easy to install and reprogram, less spacious and redeployable in multiple locations. Thus, using this technology SMEs which are operating in the manufacturing industry can achieve economies of scale which contributes positively in achieving growth in the business. Based upon my experience of working with the SME sector, I have seen that some SMEs are moving towards implementing better technology. For example a SME Agri Implement Manufacturer can use powder coated painting for the products which is parallel to what large manufacturers do. R&D and Innovation: It is known that R&D and innovation are key reasons for growth of a business. Without it a business, product and service become cliché and ineffective. TR&D and innovation has made Apple Inc. and Google distinct from other companies. But, all the SMEs do not have the capacity to invest in R&D. However, if it fails to innovate, it fails to achieve growth. However, SMEs are, on average, less innovative than large companies. For example, across OECD countries, the median value in the national SME share of business R&D is 35%. That is why it takes time for many SMEs to achieve high growth in initial stages of the business. India spends around 0.8% of its GDP in R&D. Government, business and universities are the key sectors where it spends on R&D. In 2018, it spent $29,066.8 million in government sector, $17,044.0 million in business sector and $1,952.3 million in universities. However, there are no defined figures of how much is being spent on SME R&D. Thus, investing in R&D and innovation in SMEs is still not considered high priority. Networks and External Engagement: The key notion of business is selling products and services and earning revenue. Therefore, the businesses which have better network and external engagement are able to generate revenue easily. It allows these SMEs to develop better engagement with existing clients to enhance the expansion of the present client base easily which results in a consistent growth from early stages of business. Most of the SMEs focus on listing their business in various classified sites, participate in forums, post blogs, conduct events and forge partnership for enhanced networking and better external engagement to ensure growth of business. In India SMEs participate in various events conducted by NASSCOM, ASSOCHAM and other to expand their clients base. Online promotions that include Social Media and Google advertisements are also becoming a key channel to promote SME business. Access to Funding: High-growth SMEs are not just more likely to seek external funding but also a broader range of funding options to suit their scale-up needs. The companies build an external funding network. It helps to diversify funding sources and reduces the risk of investment. However, many low-growth SMEs misses out on this opportunity due to various reasons such as not-so-attractive business idea, restricted scope of generating revenue and inability to refund on time. That is why formal banking system refrains from investing in small and medium sized businesses. An analysis conducted by IFC revealed that, there is an approximate amount of $240 billion credit gap in India. In India, micro, small and medium enterprises are responsible for around 30% of economic output and it provides employment to around 111 million people. However, the growth in Fintech industry in India shows a new hope for SMEs to access required funds for its businesses. According to PwC report, Indian and global venture capital investors are more inclined to invest in this segment. Governmental policies: India is expected to be a $5 trillion economy by 2025. The country was recently termed as truly emerging market in Asia at the moment. In 2019, the SMEs have been identified with 60% increased in offering app-based services. Thus, they are increasingly becoming technology intensive. However, this was impossible to happen ten years back. The budget crunch and lack of business scope were played as key reasons. Various positive government initiatives played key roles to enhance confidence among entrepreneurs to invest in their startup. Key government policies that has helped SMEs to startup are MSME business loans in 59 minutes, MUDRA (Micro-Units Development and Refinance Agency), CGMSE (Credit Guarantee for Micro and Small Enterprises) loan, NSIC (National Small Industries Corporation) loan and CLCSS (Credit Link Capital Subsidy Scheme). These funding schemes and loans have enabled SMEs to overcome the problems faced by credit gaps in the industry. In it worth to mention that MUDRA scheme helped many micro enterprises to avail funding help of INR 50,000 while it enables to access loan upto INR 10 lakhs. Therefore, these diverse financial facilities catering to unique need of micro, small and medium sized enterprises helped the SME segment to become as the futile seed of manifold growth of economy within next few years. In a concluding note it is worth mentioning that SMEs are the backbone of Indian economy. The report published by Goldman Sachs says small businesses are the engines of job creation in America. It accounts for 29.6 million businesses in America. It comprises 99% of US employment firms. It employs around 58 million people in America. According the statistics provided by Federation of Small Business of UK, Small businesses accounted for 99.3% of all private sector businesses at the start of 2018 and 99.9% were small or medium-sized enterprises (SMEs). Therefore, due to the positive impact of various initiatives and existent external and internal drives, India is steadfastly moving towards a right direction by ensuring scope of growth across SMEs.

#smes #sme #growth #drive #business #startup #business plan #feasibility #market research #business research

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thetechmedia1 · 4 years

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Beenext closes two new funds totaling $160 million, significant investments planned in India

Singapore based venture capital firm Beenext, has announced the closure of two of its funds, which have raised $160 million in total. A large chunk of this fund will go towards making bets in the Indian market, a place where the firm has been an avid participant.

As mentioned earlier, the amount was raised in two different funds, for two different purposes. The first fund-Beenext Emerging Asia Fund closed in at $110 million, for making investments in sectors such as ecommerce, fintech, health-tech, agri-tech, edtech, artificial intelligence and data-driven technology domains. 50% of this capital, that is $55 million, will go towards making bets in India, with the rest being dispatched to various parts of Southeast Asia.

The investment comes from multiple sources, including US institutional investors, Japanese corporations global family offices and entrepreneurs.

Teruhide Sato, Founder & Managing Partner, BEENEXT said, “We have not paused our engagement with potential founders, and are continuing to increase our momentum to find talented leaders in India and elsewhere, building the next great products and solutions.”

The firm has already established itself as a key player in the Indian startup ecosystem, having invested in Droom, realty portal NoBroker and fashion and lifestyle e-tailer Zilingo, among others. Teruhide, who also founded Beenos, has invested in various other Indian companies like BharatPe, Open and Instamojo, and many others, totalling to about 72 bets in the country.

The second fund, which accounts for the rest of the $50 million, will solely focus on Japan. Investments will be made in SAAS startups, to accelerate digital transformation.

This comes at a time when COVID 19 has ravished the global economy, ushering in a worldwide recession. Thus, the firm is placing some huge gambles, which can yield very ‘SoftBank-ish’ results. Nonetheless, it seems like Teruhide has accounted for the situation at hand, and will continue to invest heavily in SouthEast Asia.

Teruhide said, “COVID-19 has impacted every aspect of global business, but we continue to see startup founders pushing the boundaries to not only survive but thrive in this environment. The relentless attitude of founders will mean that solutions for a post-COVID world will also come from them.”

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#ttm thetechmedia

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kisaantrade · 11 months

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Unlocking the potential of agriculture B2B trade portals for new startups

The majority of farmers in India have long experienced losses in the agricultural sector. Low land ownership, a lack of modern technology, and high-interest loans from the unregulated lending market are some of the causes of this situation. Agritech startups are working to address all of these problems by utilising cutting-edge loan underwriting techniques and technology. Opportunities for agritech startups abound as a result of the widespread use of smartphones and the internet, changes in policy, and growing investor interest.

India's agritech startups have exploded onto the scene in the last five years, creating farm-to-fork brands, B2B agri marketplaces, rural fintech businesses, farmer platforms, and more.

Opportunities for Business and Creative Solutions

In India, the agritech industry has opened up a number of new market opportunities, particularly in terms of creating and improving market connections. These innovations include bringing farmer products directly to consumers, digitising agriculture, enhancing farmers' access to real-time information, increasing transparency throughout the value chain, giving farmers better implements to increase yields, and giving farmers micro financing options to manage risks. With the overarching objective of increasing farmer share in crop sales profits, all of these solutions show that improving the supply chain is a key focus area for agritech start-ups.

Government Programmes and Projects

The development of the agritech industry has been accelerated by the government. The National Centre for Management and Agricultural Extension (MANAGE) has been established in Hyderabad. A food and agribusiness accelerator was also organised by the Department of Science and Technology, GOI, in collaboration with a-IDEA, TBI, and NAARM. This programme's main objective was to hasten the development of new agribusinesses through mentoring, industry connections, and advice on investor pitches.

Recently, the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was also unveiled and put into action, with a major emphasis on water conservation and expanding the country's irrigation coverage. 7.64 billion US dollars worth of funding has been set aside under this programme for investments in source creation, distribution, management, field application, and extension end-to-end solutions.

Agriculture B2B trade portals for new startups

1) Market Research: Access to real-time market data is one of the main advantages of using agriculture B2B trade portals for market research. These portals frequently offer current details on costs, supply and demand, and market trends, which can assist startups in making educated decisions about the products to sell and the markets to target.

Startups can use B2B trade portals to investigate both the level of demand and the prices at which buyers are willing to pay for particular agricultural products. Startups can use this information to determine which markets are most promising and which products are most profitable to sell.

B2B trade portals may provide tools for competitor analysis in addition to market data, enabling startups to see what other companies are doing.

2) Access to Buyers and Suppliers: A wider network of buyers and suppliers may be available to new startups thanks to agriculture B2B trade portals. These portals can link new businesses with global suppliers and customers, enabling them to grow their clientele and find high-quality agricultural products.

B2B trade portals can be a great way for startups selling agricultural products to find new customers. Startups can use the search and filtering features of these portals to find prospective customers because they frequently have large networks of registered buyers who are looking for particular products. For startups that are just getting started and may not yet have established relationships with industry buyers, this can be especially helpful.

3) Reduced Marketing Costs: Additionally, using agriculture B2B trade portals can assist new businesses in lowering their marketing expenses. These portals give companies a stage on which to present their goods and services to a sizable audience of potential customers and suppliers. Startups can target particular audiences and highlight their products to those who are most likely to be interested by using the search and filtering features of the portal.

Using B2B trade portals can be significantly more cost-effective than using more conventional marketing strategies like advertising or direct mail. These portals frequently provide low-cost or even free registration for new businesses, enabling startups to expose their goods to potential customers without having to spend a lot of money on marketing.

4) Online Transactions: B2B trade portals for agriculture can make it simple for new businesses to conduct transactions online. These portals frequently offer businesses safe and effective platforms to conduct transactions, including the buying and selling of agricultural goods and services. Startups can streamline their transaction processes and spend less time and money on them by utilising these portals.

The fact that B2B trade portals offer a level of security that can help shield businesses from fraudulent activity is one of the advantages of using them for online transactions. To ensure that only parties with permission can access and use the platform, these portals frequently have stringent verification and authentication procedures.

5) Logistics Support: Agriculture B2B trade portals can help new businesses with their logistics needs. Through these portals, companies can connect with logistics and shipping service providers, streamlining their supply chain and enhancing their overall operations.

Startups can connect with logistics providers through B2B trade portals and gain access to a variety of services, such as shipping, warehousing, and inventory control. These services can aid companies in more efficiently managing their supply chains and guaranteeing that their goods are delivered to clients on schedule and in good condition.

Additionally, B2B trade portals can provide businesses with the tools and resources they need to manage their logistics more effectively.

Business models change over time, sometimes as a result of market changes and other times as a result of technological advancements, which leads to the emergence of exciting new trends. Our company, Kisaan Trade, keeps a close eye on the startup ecosystem around the globe. As a result, we have discovered a number of intriguing new themes that are gaining popularity, one of which is B2B farm produce e-commerce.

#Agriculture B2B trade portals #b2b trade portal #agriculture b2b marketplace #b2bmarketplace #b2btradeportal #marketplace #tradeportal #agriculturemarketplace #b2b marketplace #trade portal

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jobsearchtips02 · 4 years

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Top Funding Announcements Made By Startups In 2019

Riding the emerging tech wave and flooded with new funding, many Indian companies, startups and unicorns have seen great investments coming their way. The year 2019 saw many startups budding into thriving business houses, thanks to their investors.

In this article, we list down the top funding announcements made by companies in India in 2019:

January

WayCool, a Chennai-based farm product delivery startup raised ₹120 crore in both equity and debt from LGT, a Europe-based prominent angel investor and institutional lender. The objective of this funding round is to further expand their footprint and enter the Western market.

Fractal Analytics raises funds and may be valued at $400 million. Apax Partners was in talks to pick up a majority stake making it one of the biggest shareholders in the analytics company. It is one of the most well-funded AI and analytics service providers in India. The investment from Apax is in the line of backing cutting-edge technology companies.

Groww, a data science-based investment platform raised $6.2 million in Series A round of funding from Sequoia Capital. Y Combinator, Propel Venture Partners and Kauffman Fellows also participated in the round. The funds will be used to build its technology platform to scale up and introduce new investment options such as stocks as well to launch newer products.

February

Aureus Analytics raised $750,000 as closing investment from Connecticut Innovations, a US-based venture capital arm. The investment is part of a total fundraiser of $3.1 million and the company was selected as an early winner of VentureClash. It will be used by Aureus Analytics to drive growth, geographic expansion in the North American market and scale-up their technological and product development.

NIRAMAI Health Analytix raised $6 mn in Series A funding led by Dream Incubator, a Japanese VC firm. The funding also saw participation from BEENEXT and other investors like Binny Bansal, Co-founder, Flipkart, pi Ventures, Axilor Ventures and Ankur Capital. It will be used for scaling its operations in India, hiring top talent and getting additional regulatory approvals for international expansion.

Bangalore-based investment tech startup Smallcase raised $8 million in a Series A round of funding led by Sequoia India. Investors who participated in the funding round included Straddle Capital, Blume Ventures, Beenext Pte Ltd, WEH Ventures and DSP Adiko. They will use the funding amount to build a platform to enable retail brokerages to more products to their client base.

Vidooly, e-sports analytics venture, raised ₹ 71 lakh from Times Internet and ₹14.3 crore from Alibaba. It was conceptualised and launched as an online video intelligence and analytics platform for content creators, brands, multi-channel networks, agencies and media companies. Vidooly entered the $100 billion online gaming and esports market with its new product eSports Analytics.

Dunzo was funded by Cognizant’s co-founder and former CEO Lakshmi Narayan where it raised $3.1 million in total from their Series C funding. The Bengaluru-based app got big names such as Narayanan, Blume Ventures, Raintree Family Office (family office of the stationary giant Camlin), and Monika Garware Modi, vice chairperson and joint MD at polyester film manufacturing company Garware Polyester, as its backers.

FourKites raised $50 million in Series A funding to expand their India team. It included Silicon Valley-based investors such as August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels. The company hopes to add another 200 employees in Chennai and another 150 in their US office.

March

TartanSense, a Bengaluru-based AgriTech and robotics startup raised $2 million in seed funding, led by Omnivore, Blume Ventures, and BEENEXT. With this TartanSense plans to scale their first product, BrijBot, a weed spraying robotic solution, for small cotton farmers.

Singapore-based Tookitaki grabbed US$7.5m in Series A funding round. This funding round was led by Illuminate Financial, and existing investors who participated were Jungle Ventures, Enterprise Singapore, Supply Chain Angels, VWX Capital and senior banking executives.

Frontdesk AI, a Palo Alto and Bengaluru based startup that develops AI assistants for small businesses, raised funding from Pi Ventures. The startup raised an additional $2 million in funding, bringing its total seed funding to $4.2 million. The funding will be used to accelerate product development, increase customer acquisition and investigate new vertical markets.

April

Neewee, a Bengaluru-based startup that works with data-centric predictive and IoT solutions, raised $4 million (₹27 crore) in their Series A funding. IIFL Asset Management Ltd purchased a minority stake in this round. Neewee’s flagship product Bodhee help manufacturing companies digitise their systems and processes in six weeks to personalise manufacturing.

Analytics Software-as-a-Service company CleverTap raised $26 million in a funding round led by Sequoia Capital India, Tiger Global Management and Accel Partners. The company currently offers a mobile marketing platform to app developers, with marketing automation across a wide variety of interactive mediums.

Bengaluru-based healthcare startup SigTuple raised $16 million in the Series C round of funding. It was led by Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal.

Vue. ai, an Indian-US startup that develops artificial intelligence platforms to help online retailers work more efficiently and sell more, raised $17 million in a Series B funding. This round was led by Falcon Edge Capital, with participation from existing investors Sequoia and Global Brains (KDDI Japan).

Bengaluru-based health-tech AI startup mfine announced that they had raised $17.2 million in Series B funding. The investment was led by Japan-based venture group SBI Investment, SBI Ven Capital, BEENEXT, Stellaris Venture Partners, and Prime Venture Partners. It plans to build its AI technology and expand the recently launched additional services such as medicines, preventive health screenings and diagnostic tests.

Altizon Inc, a global industrial IIoT platform company announced series A+ funding round of $7 million. This round was led by TVS Motor Company (Singapore) Pvt. Limited, the Singapore-based subsidiary of TVS Motor Company along with The Hive, Wipro Ventures, and Lumis Partners, among others. It plans to use the funds to strengthen its international presence and continue its investments in IP development.

May

TheMathCompany announced that they had received funding from venture capitalist Arihant Patni in his personal capacity. With the new funding, TheMathCompany will build next-generation platforms and enhance the customer experience.

Locus, a logistics optimisation startup secured $22 million in a funding round led by Falcon Edge Capital and its peer firm, Tiger Global along with its existing investors. The industry’s growth will be mainly fuelled by the strides in manufacturing retail, fast-moving consumer goods including e-commerce sectors.

June

Wysa, an AI conversational agent that help improve mental health, raised about $2m in a pre-Series A round of funding. This funding round was led by pi Ventures, with participation from Kae Capital and other investors. The founders aim to use this funding amount to further strengthen their technology and for expansion.

Open, a startup focused on neo-banking, recently announced that they raised ₹210 crores ($30 million) in a second round of funding. The Series B round, led by Tiger Global Management, saw the funds being set aside for scaling, launching more products and value-added services.

Singapore-based AI startup Active.ai raised $3 million from InnoCells. Its current investors include Kalaari Capital, Vertex Ventures, Dream Incubator, Chiratae Ventures, CreditEase Fintech Investment Fund, and Dream Incubator.

Mahindra and Mahindra, one of the biggest conglomerates in India, recently purchased an 11.25% stake in a Switzerland-based agri-tech company, Gamaya for a total of ₹30 crore. Mahindra’s foray into AI-based agronomy solutions could begin an age of using ML for smarter and more sustainable farming practices.

July

Data democratisation startup Atlan secured a Series A funding for $2.5 million led by WaterBridge Ventures. Atlan has also been backed by Ratan Tata, Rajan Anandan, Manoj Menon and Hatcher, among others. Atlan intends to improve their product development and sign more customers.

Aishwarya Rai along with her mother Vrinda KR made their debut as an angel investor and invested INR 50 Lakh each in Ambee, a Bengaluru-based environmental intelligence startup. It has also raised funding from Venture Catalysts, Amit Agarwal in December 2018.

Singapore headquartered startup, Near, raised $100 million from a single backer, Greater Pacific Capital (GPC). With the funding amount, it aims at expanding and adding more people with the funding amount.

August

Resonance raised an undisclosed angel funding from IP Ventures. It intends to use the funds raised in the hiring of more engineers and the expansion of its sales footprint in international markets.

H2O.ai announced that it has secured $72.5 million in a Series D round, bringing the total funding to $147 million. Since its founding in 2012, H2O.ai has been on a mission to democratize AI for everyone. With this new round of investment, the company plans to accelerate innovation and expand sales and marketing globally.

vPhrase Analytics secured a Series A funding for $2 million from Bharat Innovation Fund and Falcon Edge Capital. It will use funding amount to launch their new product Explorazor and hire more experienced staff to guide them along.

Uniphore, a global conversational AI technology company in the U.S., India and Singapore announced that it raised $51M in Series C funding led by March Capital Partners, with participation from Chiratae Ventures (formerly IDG Ventures), Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family, along with other investors.

Lendingkart Technologies Private Limited, raised a fresh equity round of INR ₹21 crore led by existing investors including Fullerton Financial Holdings Pte Ltd, Bertelsmann India Investments and India Quotient. The company will use it to reach small and underserved micro-enterprises and further strengthen its technological and analytics capabilities.