Professional Documents
Culture Documents
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10 commandments of entrepreneurship. pg 5
The Agni
Ultimate guide to Indian startups
Sbuzz
Learn about marketing tips to make your product or company launch a success. pg 3
Cover Story
VC funding
Launch of the new startup & SME focused magazine - the first such in India. First Edition Our focus will be to identity & discover new Indian startups, and help the ecosystem with data, stats and analysis. We will also feature social media and web development related articles that will be relevant to startup and SME entrepreneurs.
CONTENTS
5. 10 Commandments of Entrepreneurship
From marketing to web design we cover the top tech tools for startups.
The Agni
8. Startup Events
EdITorIAL TEAm
Balaji Viswanathan Mahalakshmi Radhakrishnan
If you want to write for us, advertise or collaborate with us, do reach out: B 904, Cheddah Heights, 41 LBS Road, Bhandup (W), Mumbai - 400078 Phone: +91-7738145072/8 balaji@theagni.com www.TheAgni.com
Copyright 2011 Agni Innovation Labs
Get the list of permits and marketing tools that will useful for your restaurant business.
India is seeing an unprecedented e-commerce startup boom and we will go in to the factors influencing the startup boom.
Learn about Venture funding and list of VCs and angel funds active in India at the moment.
We cover some of the startup accelerator programs and incubator programs in India.
Cover Story
Your startup launch is the first day you will show your baby to the world and let the public have a hand at your stuff. A good launch can do great things to your brand & build enough momentum to cut marketing & sales expenditure drastically. Remember the lines on the day before iPhone and Sony PS II launches? You might not get that far for your product (!), but you still could generate a lot of buzz without spending too much if follow these ideas.
5. Set up your blog and post interesting content related to your product. Post the broad issues faced etc. Include me dia to display the human side of your company photos of your team, office, videos of fun events, etc. 6. Create a splash page you could use launchrock with a signup form 7. From your small network created in the previous steps, get a few target users to sign up for the alpha/beta. 3. Cultivate relationship with bloggers and media persons in your field. Here are some tips to cultivating the blogger relationships. If you could get bloggers like Robert Scoble to get interested, the idea could spread like wildfire. 4. List your startup in Angel List, StartupLi.st, CrunchBase, Listio.
Goal
now:
build
kick-ass
Goal
now:
work
on the riGht
Cover Story
5. Setup Google Analytics in your site and monitor your site daily. Track visits, bounce rate, traffic sources, time spent on site etc. 6. Learn to use social monitoring tools like howsociable to track your brand across the social media. 7. Write a good press release. A press release is a content that a media could use directly for their story. It is written in third person and talks about your product, team and advantages of your product. 8. Setup your Facebook page. Get your friends and contacts to join it. You might want to use Facebook ads to kickstart the fan building process. 9. Create viral content emotive stories, videos and pictures that people could share in social media easily. 10. Create interesting infographics and slides on content related to your product (stats, benefits, user demographics, comparison to existing products) to post in your blog. You might be able to use the newly launched Visual.ly to create the infographics if you dont have a create artist.
11. Tease your twitter followers with tweets that gives them a preview of the product in a fun & entertaining way. Without going overboard, give a bikini reveal enough to keep it interesting without exposing everything. 12. Create fun contests (quizzes, social games, etc) for your twitter & facebook fans throw away a few freebies. 13. Write personally to bloggers give exclusives for the big ones- give them a compelling story. Bloggers like to write interesting content and make your story a coherent and a powerful one. Request them not to leak the story till your launch day. 14. Collect a list of all email contacts you and your team knows. Keep these in your CRM or at the least in a single CSV file. 15. Prepare a video demo of your product and record interviews with the team and your initial customers post them on your youtube channel. Keep it short and fun. 16. Create a kick-ass presentation of your product covering the problem, your solution, benefits etc post them on your blog.
Goal
now: choose the riGht launch date ideally in the middle of the week without any impendinG holidays and other major product launches.
Launch day
1. Post the howtos, presentation, videos, any testimonial you received from your beta users in your blog. Make your blog the central repository of everything related to your product. 2. Schedule two dozen tweets (you could use tools like Hootsuite for scheduling) to go every hour each covering a facet of your product with an appropriate URL in your site. 3. Start mailing to all your email contacts. Use a tool like mailchimp to send and track the emails. 4. If you are an internet startup, post your site link in Killerstartups and these 36 other websites. 5. Submit links in hackernews and hackernews india. 6. Get your team tuned to the social media and be alert to receive feedback. Monitor your site metrics traffic, load etc. Respond to email queries as fast as possible. After the launch thank all the bloggers who have covered your event. Listen to your customers and keep updating your product.
If you need further help launching your startup do contact us for our premium services. Mail me at: balaji@theagni. com
W h I L E W E C A N N O T b E C OM E L I k E ST EV E j O b S , T h E r E I S A L O T W E C A N L E A r N F r OM h I S p r O D U C T L AU N C h E S
Entrepreneurship
10 Commandments of Entrepreneurship
1. Ideas matter very little it is all about execution. Some of the greatest companies were built on trite & simplest of ideas. So, when you start a business, dont be discouraged that others have that idea too. Just focus on how many of them are executing it chances are that none of the incumbents are executing it awesomely. 2. Entrepreneurship is not a hobby nor something you do on a vacation it is a way of life. It is not a one-night stand but a marriage. Plan to stay on it for the very long term. 3. Failure is a given and every entrepreneur must go through that ritual. And just like night & day, there could be cycles that you cannot control. So, dont be too hard on yourself and always look for opportunities. You work years to be called an overnight success. 4. No work is too low as long it is legal. You think sweeping the floor and calling up customer is too low for your CEO title? Entrepreneurship is not your cup of tea. If you do it the right way, your janitorial business could be as great as a business designing tablet devices. 5. Money is an essential byproduct to a great businesses, but is not everything. Fundamentally your focus has to be on adding value. If you add value, money will follow. 6. Marketing is not about conning the customer into giving their money. It is the foundation of a business where you develop the right product at the right price for the right market. Marketing has to be at all levels of a business. 7. Every customer is equally important whether he pays Rs. 10 or Rs. 10 million. Every customer deserves respect and service. 8. No employee is inferior to an another. You might think the guys in C suites are important than the janitors. But, the janitors could make your company stink more than your CTO. Give every employee the respect & treat them as equals even if there are different payscales & incentive mechanisms. 9. You can never grow big enough to warrant your arrogance. Be the founder whom the employees could approach and talk to easily. The larger you grow, the more humble you have to become. The greatest guys of the last millennium - Albert Einstein and Mahatma Gandhi were the most approachable and humblest persons. 10. Always Look to change the world. Always question the status quo dont take it as a given. Constantly look for opportunities to disrupt.
If you focus on addInG VaLue to your customers money wILL foLLow soon
A LWAyS L O O k T O C hA N G E yO U r WO r L D
Startup Launches
CooL nEW
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STArTUpS
1. Programr - Pune based virtual computer institute that has online compilers for C++, Java, PHP, C#, Flex, J2EE, Objective-C enabling students to write programs & directly run it on their browser. www.programr.com 2. Snatchcode - Lucknow based startup that offers one click backup of websites. There is a free plan that gives up 1o 1 GB of space and a plus plan with 7GB of space & an undo feature for $7/month. www.snatchcode.com 3. Billbaba - NCR based startup that offers a bill reminder service for Indian consumers. They offer SMS, Facebook and email alerts on a variety of reminders on utility, phone & other services. www.billbaba.com 4. Aaram Shop - NCR based online grocery shop that offers customers the ability to order grocery online from a variety of offline stores. A sort of Justdial + e-commerce store hybrid. www.aaramshop.com
SE rV IC E S M A r k E T I N I N D IA I S C hAO T IC A N D T h I S STA rT U p A I M S T O A D D r E S S T h E I S SU E .
5. Vaultize - Pune based tech startup that provide enterprise class backup solutions to help you SMEs back up their emails, databases & other files on the cloud. www.vaultize.com 6. Chhotu - NCR based courier delivery service optimized for e-commerce stores. They take care of both delivery logistics & Cash on delivery payments to free e-commerce cos from those hassles. Currently offer services only within New Delhi. www.chhotu.in 7. Runpapa - Ahmedabad based local deals site that offers pull based group buying - consumers can identity a product they are looking for & if enough guys are looking for it, Runpapa will negotiate a bulk deal. www.RunPapa.com 8. TaskTrek - NCR based tech startup that offers communication management suite for teams in a company to collaborate better. They offer both desktop & online versions. www.tasktrek.in
9. YatriCab - NCR based travel startup that makes it easy to hire a cab online for local as well as long distance destinations. Currently offer services in Delhi. www.yatricab.com 10. Mirraw - Mumbai based startup that aims to connect fashion designers build their online presence and sell stuff online. www.mirraw.com 11. Service Sutra - Kolkata based startup that connects service providers with consumers through their virtual marketplace. Consumers can request a quote for a service and they provide the 3 best quotes from the providers. Currently they list 6 services - Finance, Packing, Media, Interior designers, etc. www.servicesutra.com If you have a startup announcement to make reach out to us. We feature the best in each issue. Contact. balaji@theagni.com
Technology
marketing
6. Twitter Given that majority of VCs, news reporters and business leaders are on Twitter, a startup should have this as a central part of their marketing strategy. Twitter. com 7. mailChimp Even with all the social networking tools, email marketing is still relevant and the cheapest. Newsletters allow startups to keep in touch with your potential customers and take your products to a wider audience. MailChimp.com 8. Slideshare The youtube of powerpoint slides, Slideshare allows you to take your company message to investors, clients and partners. Slideshare.net 9. getSatisfaction Marketing cannot work without satisfying your current customers. GetSatisfaction directly opens channel with your current customers. GetSatisfaction.com 10. polldaddy Poll Daddy allows you to take customer surveys and do market research. PollDaddy.com
UnpLUggd
Nov. 19, 2011 pune More details at: http://www. unpluggd.org/agenda/
TIECon, CHEnnAI
Nov. 24, 2011 - 9am - 6pm Chennai Trade Center Attracts VCs, startups and mature companies.
STArTUp SATUrdAY
Nov.12, 2011 Events across all major cities in India.
Entrepreneur Chat
SBUzz
Visit the Sbuzz facebook group: https://www.facebook.com/ groups/180300388702489/
T O j O I N T h E C hAT O N W E D N E SDAyS 7 p M I ST, G O T O h T T p : / / T W E E T C hAT. C OM / r O OM / SbU z z
Sbuzz is a weekly Twitter chat for Indian startup entrepreneurs to come and network with other startups, learn the trends, take advice, share office, etc. The goal is to create a strong ecosystem where information flows freely. Follow this page for more updates and everything related to Sbuzz. Share this page to get your friends in this too. Started on July 27 2011, we have been running the chat for 14 weeks on topics ranging from fund raising to hiring, sales, price discrimination etc. Each chat is of 1 hour duration and are between 7 to 8 PM every wednesday. The primary audience are entrepreneurs and it is a forum for peer to peer advice and networking. There are over 100 participants so far with each week averaging about 30 startup & SME participants. Week 1 opened with discussion on problems facing a startup - with hiring and promoting emerging as top challenges for Indian startups.
On Week 2, we took the discussion towards tools for startups. We discussed on marketing, project management and social tools that are relevant for startups. Week 3 was one of the most popular chats, featuring a few investors and the topic was on fund raising. We had over 40 startup participants.
Weeks 4-12 dealt with various aspects of sales & marketing from social tools to corporate identity. Week 13 was about startup incubators and onWeek 14 dealt with one of the sticking points of Indian companies customer service. We talked about how to wow the customer and use them to improve the future sales.
There is wisdom in the crowds; Indian startups & investors can greatly benefit from this weekly chat that helps break ice, identify potential partners etc. Unlike a conference it places very little stress on your schedule and given the timing (7-8pm) it is ideal for people returning from work or have returned home. Since, Twitter allows mobile updates, it can suit both the commuters & the late leavers in the office.
First Edition
Ma g azine | 9 9
How To
planning
1. Research your market and find what cuisine you want to target. 2. Follow restaurant focused blogs like Ranw. com and Chefatlarge.in 3. Create a business plan decide on pricing, target demographic profile etc. 4. Choose the right location restaurant business is mostly about location that anything less.
the two mo s t i mpo r ta nt thing s in a go o d re sta ura nt bu siness a re a ) r i gh t l o c a ti o n b) rig ht ch e f. If yo u d o n t ge t them rig ht, re s t d o n t ma tte r.
5. Get suppliers for food and utensils use seekandsource. com, indiamart.com, Justdial and Sulekha. 6. Get insured. 4 types of insurances are mandatory in India Public Liability, Product Liability, Fire Policy, Building & Asset.
8. Lift license (if lift is there) 9. Liquor license from excise commissioner (if liquor is served). 10. L-4 license from department of tourism (for star hotels). 11. Playing Music license from Indian performing right society (if music is played).
marketing
1. Become a part of national restaurant association - NRAI and join local trade bodies. 2. Get a blog and twitter account and create a buzz before opening the store. 3. Get premium listing in classified sites like Justdial.com. 4. Use deal sites like Snapdeal and provide coupons to kickstart the business. 5. Use Facebook, Twitter and Foursquare to constantly interact with your customers. 6. Get your site listed in Zomato.com that provides menus of restaurants across India. 7. Engage your audience constantly in food review sites like Foodlets
Funding
STArTUp FUndIng
Since September 1, 2011, 17 startups have announced their funding and we find majority of these startups are in NCr region and bangalore. Mumbai falls a distant third. Education seems to be the hottest sector now and a slightly more equal distribution of funding in other startup sectors. Intel Capital, Info Edge and Seeders Ventures are the most active startup investors at present.
Startup
WebEngage - Customer engagement and feedback tools Capricorn Gifting - Corporate gifting and promotional products eShakthi - Online apparel firm targeting US customers One97 Saankya Labs - Fabless Semiconductors
Investor
Indian Angel Network Seeders Venture Capital IDG Ventures SAP Ventures Intel Capital
Funding scope
Seed Seed $3m $10mn
Location
Mumbai
Segment
Web tools
Testing Czars - Test engineering & moIntel Capital bile applications Financial Inclusion Network & Operations Intel Capital (FINO) - banking tech platform provider Whats on India - electronic TV guides Intel Capital Duron Energy - Consumer solar products Intel Capital MyDala - Daily deals website Vienova - Education tools providers to schools Eduora - online social learning platform CarSingh - online portal for used cars MeritNation - online education assesment and learning Zomato - Food guide and restaurant directory Eye-Q - Special hospital chain Sparsha - Activity based e-learn for schools and higherl education Info Edge Helion Advisors Seeders Venture Capital Seeders Venture Capital Info Edge Info Edge Nexus Venture Partners Tempus Capital and Blume Venutres Rs. 18 crores $3.5 mn Seed Seed Rs. 20 Crores Rs. 13.5 Crores
Hyderbad Corporate gifting Chennai Ecommerce Apparel New Mobile InterDelhi net Services BangaSemiconduclore tor BangaSoftware testlore ing Mumbai Finance Mumbai Bangalore New Delhi New Delhi Bangalore Bangalore New Delhi New Delhi New Delhi Kharagpur Entertainment Energy Deals Education Education Portal Education Food Healthcare Education
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Travel Sites
Local Deals
Apparel
I T L O O k S L I k E T h E E - C OM M E r C E VA LUAT IO N S A r E M OV E D M O r E b y T h E p O S SI b I L I T y O F A M A z O N S I N D IA E N T ry T hA N AC T UA L F U N DA M E N TA L S . M A r G I N S A r E WA F E r T h I N A N D EV E ry b O Dy I S b E T T I N G O N h IG h E r VO LUM E S . ndia is facing an unprecedented E-commerce boom. There are now over 40 local deal sites and 500 e-commerce ventures along with a plenty of traditional stores having their online version of their store. Over 40 of the Indian e-commerce ventures are funded. There is no question that there is a bubble and the market cannot have 500 general purpose e-commerce players vying for peoples attention and pockets. In the US, Amazon has consolidated its top position and is displacing both online and offline players. India might go the same route. None of the e-commerce have broken even and their marketing budgets are well above their operational profits for majority of the players. What has caused this? We will cover some of the major factors that is causing this boom.
Baby Goods
Electronics
Timtara.com Letsbuy.com Taggle.com
Lingerie
Feature
A Billion people
by Indian standards Flipkart has been a great success story - the first Indian Internet company to clock $1 billion in valuation. Founded in 2007 by exemployees of Amazon, Flipkart has moved on to become the biggest ecommerce store in India, pioneering things such as Cash on Delivery. The success of Flipkart has infused a Can Do spirit among the Indian entrepreneurs and a Me too spirit among the Indian VCs who missed out investing in Flipkart.
The world leader in e-commerce Amazon has suggested that they will be entering the Indian market in the next 12 months. Like Apple, Amazon has a great knack of moving the market and affect consumer behavior significantly. It has been speculated that Amazon might not enter without a local partner and a few acquisitions. This has sent a few VCs and startups into a frenzy. The possibility of $100mn plus acquisitions definitely plays a part in the valuations.
Cash on Delivery
Even in 2005, India was a backwater in communications. but in the past 6 years, SMS, Orkut and now Facebook has & Twitter has brought the nation quite close. For startups, particularly e-commerce startups, social media is a significantly less expensive way to advertise their services and enable viral growth.
Herd mentality
people in Finance have a herd mentality and the fear of losing out the good opportunity often overtakes the fear of losing on the bad deals. In 1999, if you were not investing in dotcoms you were considered a laggard. In 2006, if you are not in mortgage business, Wall Street would have looked down on you. And the flavor of this season is local deal sites and Indian ecommerce sites.
Flipkart Story
With a variety of e-commerce plugins, Wordpress store themes, Cloud storage and payment gateway options it has become very easy for anybody to setup their e-commerce store for as low as rs.20000.
While Sears and later Walmart and others have introduced organized retail in the US, decades ago, Indian retail is still in stone ages and highly disorganized. just like in communications, Indians could leapfrog directly to online retail from the traditional kirana setup.
I N D IA N STA rT U p S A r E b r AV E Ly C L I M b I N G U p, bU T FAC E A U p h I L L TA Sk I N C r AC k I N G T h E E - C OM M E r C E SE C T O r .
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Funding
Traditional VC funds
Nexus Ventures - They are among the leaders in the Indian VC scene investing rs.2-40 crores in 6-8 companies annually. Their currently portfolio of 28 companies includes top players such as Snapdeal.
Intel Capital - A primarily tech portfolio from Intel includes investments in Indiamart and yatra. They have got a number of successful exits from their investments in rediff, Sharekhan, NIIT and perSeedfund - based in Mumbai and sistent technologies. bangalore, it has over a dozen investments and plenty of suc- IDG Ventures - An international cess stories ranging from redbus, operation with over 150 companies in its portfolio, IDG has currently printo.in, Carwale etc. invested in 15 companies in India. Seeders - A relatively new angel fund based in kolkata, Seeders has Sequoia Capital - The 800 pound been pretty active in the past cou- guerilla in the VC game, Sequoia ple of months investing in 3 start- has funded in companies like Apple, Google, yahoo, paypal, youups. tube, LinkedIn and Oracle. UnBlume Ventures - based in Mum- like their US operations, however, bai, blume ventures has over 7 their India operation seem to focus startups in its portfolio and typi- more on mature companies. Their cally invests between 50 lakhs to 2 investments include justDial, Cafe Coffee Day, Vasan Eye Care etc. crores. Mumbai Angels - Started in 2006, Ventureast - has $300mn in funds Mumbai angels has now 150 inves- invested in over 50 companies so far. tors invested in 37 companies.
Canaan Partners - Operating in Israel and US, along with India, Canaan has invested in 12 companies currently including bhart Matrimony and e-commerce company naaptol. LightSpeed Ventures - An international fund with operations in India, US and Israel, Lightspeed has 4 investments in India including the local search provider AskLaila.com.
Funding
Seedfund incubators Mumbai based program Start Up! - Delhi based .program for social entrepreneurs IncuCapital funding and incubation. iAccelerator Pune based startup accelerator. Gemini New Media ventures based in Mumbai.
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Our Services
Launch marketing
whether you are launching a new product, service or a new company we will assist in creating a buzz and help you reach the right customers.
Social Media Strategy Landing page Brochures Viral videos Public Relations Blogger relations Brand monitoring Email marketing
Web development
Websites are like buildings - not all are same; there are skyscrapers as well as slums and unfortunately most fall under the latter category. We can help you build a highly engaging website that can help you gain new customers as well as building your brand. These websites can be delivered in as fast as 24 hours and we could also setup email - @ yourname.com and document management on the cloud with Google Apps. prices start from: rs. 4500
An initial buzz can go a long way in helping your new product take-off. prices start from: rs. 5000.