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<ul><li>The agency that started out with a simple idea of branding tea cups, CupShup is now all set to clock ₹12 crore this financial year</li><li>50% of its revenue will come from activation services, 35% from cup branding and the rest 15% from creative and digital services</li><li><keyword id="4986606" type="PERSON" weightage="20" keywordseo="Sanil-Jain">Sanil Jain</keyword>, Co-founder of CupShup, tells us the potential a cup of tea hold, struggles of starting up a disruptive brand with low investments, and the plan ahead</li></ul>Around 100 billion cups get consumed in India every year and Chai break in an intrinsic part of our culture. People talk, discuss, debate, and analyse things over a cup of tea. Cups also cater to different social strata and have the advantage of being comfortably placed in the customer's hand for a good five to seven minutes. Hence, CupShup saw every non-branded cup as a wasted opportunity for consumer engagement. ‘It’s hard not to observe our chai cups -- because a chai is an emotion that we all love and bond over,’ says Sanil Jain, Co-founder, CupShup. And it was at a Chai Tapri that Jain and <keyword id="380793" type="PERSON" weightage="20" keywordseo="Sidharth-Singh">Sidharth Singh</keyword>, the two Co-founders of CupShup, decided to convert ‘A Cup’ into ‘The Cup’. They were struggling to come up with an idea for their college project and that’s when they had their eureka moment. “The idea dawned on Sidharth. He asked me, 'What if we brand these plain paper cups and convert the tea breaks into discussion joints for brands?' Post that, we had a chat about movies and politics for about 15 minutes. It came to our mind that we just spent 15 minutes of our quality time which was relaxed, clutter-free, and the environment was fun-filled. This was a perfect place or medium where a brand would want to promote itself,” recalls Jain. The startup aims to convert these 10-15 minutes of tea breaks into an opportunity for brands to get attention from their target audience and be part of their daily, relaxed conversations. While Jain immediately realized the potential behind this idea, the next toughest step was testing it out with minimum investment. “Since it was very difficult to get a small number of cups custom-printed, Sidharth bought around 100 cups, added stickers of a nearby restaurant on them with an offer and distributed it to the nearby chai tapris. He later interviewed around 50 odd people at the tapris and found himself surprised by the result of the product validation survey -- it was fantastic. Almost all of the people he spoke to were able to recall the brand and the offer on the cup, when aided. Thus, we established our idea has the potential and brands will be attracted towards this unique method of promotion,” shares Jain. CupShup bootstrapped itself and used a sum of ₹1 lakh, each founder contributed a half, into hiring a team, building the infrastructure, launching an application, and establishing a distribution system. It was after its first campaign with Ola that CupShup turned into a profitable company and that opportunity spearheaded its growth ahead. Since then, CupShup has been able to grow organically to a team of 50 people -- based in Mumbai, Gurgaon, Bangalore, Pune and Hyderabad. Services Offered CupShup offers Cup Branding, Activations, Corporate Branding, Creative Services and Digital Marketing, among others. For the current financial year, Jain says, 50% of its revenues will come from activation services, 35% from Cup branding and the rest 15% from Creative and Digital services. So far, CupShup has seen more than 150 clients including Amazon, Uber, Ola, Unilever, SBI, Kotak, ICICI, Swiggy, Dunzo, HotStar, Marico, Coke, Zomato, OYO Rooms, Grofers, Pocket Aces, Viacom, TVF, ZEE. The agency recently concluded a campaign with Hotstar for their web-series, ‘<keyword id="94523" type="ENTERTAINMENT" weightage="20" keywordseo="The-Office">The Office</keyword>’, for which it distributed 25 lakhs paper cups with nine humorously designed creatives, each with a witty designation aimed to strike light conversations inside offices. 
 
 
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 While the team has worked with brands across sectors, start-ups remain their favourite. “Be it FMCG, BFSI, Entertainment, we have worked with them all. However, clients who are most receptive and open to experimenting are start-ups. While established clients make our offerings part of their 360 degree campaigns, new age brands and start-ups not just use our medium but also use our services in media planning, buying and creatives. Other than Cup Branding, they are also eager to explore our other offerings like Digital Screens and corporate activations,” said Jain. Challenges of Starting Up CupShup only had a lakh to set the ball rolling. While finding good talent was a task with limited infrastructure, convincing corporates was not a cakewalk either. “Initially, offices in corporate parks were reluctant to give us entry into their buildings as they were skeptical about the quality of paper being used by us. However, with time they are aware of the fact that we only use water based ink on our biodegradable and recyclable paper cups. This helped us understand their concerns and in accessing the office cubicles with ease,” said Jain. To spread the word around and get more attention from their client, CupShup reached out to various start-up specific news portals and networking events. Jain also sent a monthly newsletter to their client base to update them about CupShup’s work progress. Slowly, as CupSup started working with bigger brands, its communication strategy broadened to entire marketing and advertising community. Expanding its Call-to-Action Clients only look out for end results and measurable outcomes. So what kind of ROI does CupShup offer? “While most of the established brands use our medium as part of their 360-degree campaigns focused on grabbing eyeballs and building brand recalls, many new age brands and start-ups use our services to acquire new users and drive App downloads, and transactions as well. Since a tea break allows a brand exposure time of 5-7 minutes, we also use call-to action methods like QR codes, Missed Call to SMS and so on, for lead generation. But yes, this method of branding grabs attention, drives a positive ROI and triggers a conversation,” answers Jain. Plan Ahead After a smooth run in FY 2018-19 with ₹4.5 crore in Revenues, CupShup is now projected to clock ₹12 crore this financial year on the back of its strong clientele. CupShup is now scaling its network, activation services, and ramping up the creative services portfolio. It is also working on a digital product, which is slated to go live early next year. While Jain did not share the name or idea behind it, he said their product will ‘aim at revolutionising the way digital marketing is done in India.’

CupShup aims to treble its revenue to ₹12 crore by end of FY19 - 20

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on Saturday announced <keyword id="8192304" type="UNKNOWN" weightage="20" keywordseo="union-budget-2020">Union Budget 2020</keyword> which gave an impetus to the country’s digital ecosystem.</li><li>The budget came up with an optional new tax regime which could lead to lower taxes for taxpayers.</li><li>She also acknowledged the role entrepreneurs have played in creating more jobs and capital for the country.</li></ul>As Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday, the industry came together to applaud the government’s digital push with the announcement of the setting aside of Rs 6,000 crore for BharatNet, to ensure low cost internet reaches every household in the country. The government also announced an optional new tax slab which has lower tax rates, although the people opting for the new tax regime will not get any exemptions. The FM also spoke about the role that entrepreneurs have played in creating jobs and bringing in more capital to the country. However, there were a few industry experts who felt that the expectations from ‘the budget were much higher and it feels like a missed opportunity.’ Here are the views of some experts: Ashish Bhasin, CEO, APAC and Chairman, India - Dentsu Aegis Network: I think this is a good budget in some ways because it has attempted to put money in the hands of the middle class through rationalisation of tax rates as well as has concentrated on looking after the agricultural sector, including introduction of best practises like storage for producers and other measures. However, I do feel that the expectations from the budget were much more and it does feel like a bit of a missed opportunity. While it is good to see that the dividend distribution tax has been abolished, I expected more on the rationalisation of direct taxes, particularly the cess introduced over and above the tax rates. It is good to see efforts being made to encourage new-age skill development as well as helping the start-ups and what's particularly interesting is the proposal to set up data centre farms all over the country. This will prepare India for the economy of tomorrow. It is also good to see attempts at simplification of taxation through digitisation but the proof of the pudding will lie in seeing its implementation on ground. It would be fair to say that at best it is a mixed budget and while there are some encouraging decisions, enough does not seem to have been done for the situation the economy is in. RS Sodhi, Managing Director of the Gujarat Cooperative Milk Marketing Federation: <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword>, an excellent move, will bring more investments in the dairy sector which will increase the farmers’ bargaining power to get better prices for their produce, if done properly it will create 80 lakh jobs in Rural India and 16 lakh jobs in Urban India. Anand Bhadkamkar, CEO, Dentsu Aegis Network (DAN) India: The budget has provided relief to the middle class with lower tax rates which is a welcome move, as it will provide more liquidity. On direct taxes, the abolition of DDT and introduction of a tax dispute resolution scheme is a welcome step alongside tax reliefs for startups. The budget is focusing on easing and simplification of compliance, with changes in corporate laws as well as in GST and direct taxes. However, I was expecting further simplification of cess and surcharges beyond tax rates across slabs. The proposals for development of road infrastructure, setting up data centre parks and skill development initiatives are welcome steps in addition to allocations for social welfare schemes. However, the expectations from the budget were high on the background of current economic slowdown, and as such seems to be short on matching those expectations, with no specific industry sector focused sops to provide stimulus. While the budget shows focus on long term growth and social development, overall in the current scenario it looks like a mixed budget, falling a bit short of market expectations of more corrective measures. Mukesh Kalra, Founder &amp; CEO - ETMONEY: The Finance Minister's proposal to introduce a new tax regime is a great step towards giving equal chance to every Indian in the lower income segment to maximize their post tax incomes. In the old regime, an individual supporting a larger family &amp; negligible savings was forced to pay higher tax compared to an individual supporting a smaller family or one with no dependents. This created disparity when it came to effective taxation for the former group. In the new regime, the disparity ends &amp; also frees up income in the hands of individuals to give a boost to consumption. Nishant Pitti, Co-Founder &amp; CEO, EaseMyTrip: In tune with the present government vision to encourage Indian travellers to travel more and contribute towards the nation's growth, this budget takes it a step ahead. The budget has focused on promoting tourism &amp; travel with an overall budget of Rs. 2500 crores in year 2020-21. Government aims to develop 100 more domestic airports under the UDAN scheme. To promote travel via railways, the government will focus on more Tejas type trains that will connect tourist destinations in India. The Finance Minister has also laid stress on the development of archaeological sites into iconic sites with on-site museums. Five such sites are- Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur. Government has also announced the renovation of 4 key museums. Rs,150 crore have been allocated for the ministry of culture in 2020-21. We are hopeful that this budget will open new avenues for the travel industry. Sabyasachi Mitter, Founder and Managing Director of Fulcro: The key takeaway for me has been the simplification of tax regimes as well as giving a boost to consumer and investor sentiments. The removal of DDT is a significant move and long overdue as it effectively leads to double taxation. Simplification of personal Income Tax rates by giving the option to tax payers to avail the reduced tax rates by not availing deductions is a welcome step towards a future free from the historical legacy of compliance issues. The focus on encouraging start-ups is also welcome, both in terms of giving relief to the ESOP taxation which has been increased to 5 years. The turnover of availing 100% income Tax benefit has also seen two key changes; increasing the turnover threshold to 100 crores as well as increasing the block of years from which to avail three years of exemption to 10 years from the 7 years presently. All of these will increase the cash in hand of corporates, individuals as well MSMEs leading to a spur in demand. Specifically to the digital ecosystem the aggressive plans to increase the coverage of Fiber to Home being extended to 1 lakh gram panchayats will give a significant boost to the digital ecosystem. The recognition of the need for data and therefore the policy announcement on data centre parks is also a welcome move. Anish Sarkar, CEO, Sodexo BRS India: Sodexo always believes in giving our consumers the freedom of choice; the tax proposals in the budget are also on a similar philosophy. We believe that consumers should have a higher purchasing power – while this announcement will give them the power to choose their tax structure, our consumer base will continue to benefit from the current regime. Sodexo’s solution suite goes much beyond tax-saving products; driving the digitization of corporate cafeterias &amp; factories along with digitizing expense management to achieve workplace efficiency. We are very focussed on enhancing the employee experience of our clients by creating an ecosystem of value-added benefits much beyond tax savings. Devendra Shah, Chairman, Parag Milk Foods Ltd: We happily welcome the government's big push to the India's dairy industry. We are excited to be a part of the government's plan to double India’s milk processing capacity. Strategic measures like increasing the coverage of artificial insemination and eliminating Foot and Mouth Disease (FMD) and Brucellosis in cattle will result in higher yields. While such measures are welcomed, the dairy sector also needs to ensure the yearlong availability of green fodder. We can currently import the green fodder from Australia, Canada and USA. All these collectively help in Increasing milk consumption amongst urban and rural consumers thus attracting new investments and jobs. Navin Khemka, CEO, Mediacom South Asia: What is required is more purchasing power to the Indian middle class. This will help boost demand in the sluggish economy. I hope the investment in infrastructure and kisan express helps in achieving this objective in the long run. Short term, however, I think this budget is status quo. Demand growth could be sluggish and this could continue to impact media investments by corporates. Indroneel Dutt, CFO, Cleartrip: The government has backed its vision to turn India into one of the world’s top tourism hubs by allocating INR 2,500 crore for promoting tourism in general and setting aside a sum of INR 3100 crore for the Culture Ministry to boost regional tourism. What would be wonderful is to have an empowered nodal body comprising of the Govt / OTA / airline, hotel and other industry representatives with the objective of promoting discoverability, ease of booking and fulfilment of our cultural, natural and heritage sites. Introduction of more Tejas Express type trains and the inauguration of several culturally-significant archaeological sites are other much-needed moves. We also welcome the Hon’ble FM’s proposal to develop 100 more airports as well as the doubling of the airline fleet by 2024. This calls for skilled manpower development in parallel. The aim to double the fleet to 1200 in the next 3 years will certainly accelerate the passenger growth rate. Ramesh Kaushik, VP Brand Experience at Blackberrys: The government remains committed to accelerate consumption in budget 2020. Government measures of reducing corporate tax and initiatives to boost MSME sector will definitely help accelerate industrial and corporate growth in the country. Measures like simplifying GST and income tax relief are sure to give requisite push to consumer consumption and demand thereby accelerating growth across industries. Additionally allocation of funds for infrastructural development is a welcome move clearing path for expansion. We expect more measures/announcements specific to the retail industry from the government in the coming future that will give the right impetus to the industry. Sameer Makani, Co-Founder and Managing Director, Makani Creatives: Budget 2020 aims at the betterment of all sections of the society. The key highlight is certainly the tax regime where the government has proposed alternative tax policies and new rates to benefit the taxpayers. The vision to improve the start-up scenario in the country will help in creating more job opportunities and further ensuring the economic growth. The Skill development programme will enable overall personality development In comparison to budget 2019, MSMEs will experience a 71% rise over and above the budgetary allocation. Sudhanshu Agarwal, Founder &amp; Director, Citykart: The announcements made by the government in Union Budget 2020 are a promising move to boost the income and purchasing power of people. So far, the rollout of GST has resulted in gains of about Rs.1 lakh crores to consumers, which is likely to increase further with revised GST laws being implemented from April 2020. Simplification of GST norms will be significant in inspiring consumer demand &amp; consumptions and spur industrial growth. Additionally, allocation of Rs.100 lakh crores for infrastructure development also opens growth prospects for the brands in non-metro cities. However, we feel specific measures pertaining to the retail sector have still not been fully addressed in the budget. Kunal Lakhara, VP of Finance and Operations, Pocket Aces: Budget 2020's revised fiscal deficit target of 3.8% of the GDP seems more realistic and focus on spends/benefits was required to boost the economy. The thrust on entrepreneurship and tax regulations for both startups and taxpayers is a move in the right direction. India is the third largest startup hub globally and the announcement of an investment clearance cell to provide end-to-end support to startup founders will encourage more youth to be job creators. Further, the ability to defer taxes on ESOPs will democratise wealth creation for startup employees, ensuring the right talent is benefitted. Finally, the decision to grant 100% tax exemptions to sovereign wealth funds on their investment in priority sectors will provide the much needed funding boost to the sector and create value in the longer run. Sahil Vaidya, Co- Founder &amp; Director, The Minimalist: Following the announcement of the Union Budget 2020, one thing is certain, is that the Government is heavily focused on becoming an entrepreneurial superpower. By investing in the MSME sector, the Government’s support towards new companies will go a long way in producing high growth business. Furthermore, the tax waiver on ESOPs will enable more talent to place their bets on early stage disruptive start-ups, which have the potential to become the corporates of tomorrow. Among other sectors, the Budget 2020’s focus on start-ups and technology will be a boost to companies that are doing some cutting edge design thinking to enable the best of digital products for a booming digital economy. Sanil Jain, Co-founder, CupShup: The start-up ecosystem in India is not more than a decade old and has come a long way to become the third largest in the world after USA and China. 2019 was not what we can call a good economic growth year but this budget has definitely brought some relief to start-ups. The implementation of the Investment Advisory Cell will aid new start-ups. Deferring the Taxation on ESOPs is definitely a big win as it will go a long way in acquiring and retaining quality talent. While on the other hand, decreasing direct tax to a historic low of 22% will boost export opportunities and drive growth across various industries. Nikhil Mathur, Managing Director – India, GfK: The proposal to boost rural economy, infrastructure and enhance purchasing power of middle class, if implemented well would certainly be fruitful. It could further improve the consumption of consumer durable and electronics. As per GfK data, CE-MDA category registered a volume growth of ~9% in 2019/2018. I think the market is expected to grow in the back of technology companies and given the state of economy we can be hopeful of a better future. Besides, encouraging local manufacturing of mobile phones and semiconductors may fuel the ‘Make in India’ vision.

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CupShup aims to treble its revenue to ₹12 crore by end of FY19 - 20

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