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So you thought this grand old man in his flashy red robe, outdated sleigh and with his typical “Ho ho ho” laugh would soon go out of business? After all, who believes in all those grandiose tales about him and his snow-capped home in the <keyword id="175235" type="CITY" weightage="100" keywordseo="North-pole">North Pole</keyword>? Today’s kids are just too smart. And who cares for childish things like gifts and toys in an age ruled by success, money and mindless fun? 
 You could not have been more wrong. Over the centuries, <keyword id="1968342" type="UNKNOWN" weightage="100" keywordseo="Santa-Inc">Santa Inc</keyword> has created a tradition that fits with the core objectives of any age – the rites of honouring consistency, creating values, ensuring <keyword id="94495" type="ENTERTAINMENT" weightage="100" keywordseo="Innovation">innovation</keyword> and finally, guaranteeing end-user’s satisfaction. Take a close look at his strategies and operations, and you’ll find that <keyword id="19294" type="ENTERTAINMENT" weightage="100" keywordseo="santa">Santa</keyword> and his <keyword id="4535" type="ORGANIZATION" weightage="100" keywordseo="team">team</keyword> offer all these and more. Here are seven (tongue-in-cheek) reasons why <keyword id="1968351" type="UNKNOWN" weightage="100" keywordseo="Millennial-businesses">millennial businesses</keyword> should follow him. 
 
He has a story to tell. Oops! Not just one, but many and they have gone viral over the centuries. Who can resist a Santa tale, his goodness and the hard work he does to bring forth millions of smiles? Well, some businesses have already picked up this trail, it seems. Only recently, we came across this inspirational story of a Japanese firm who used to produce hand-made luxury bedding and was losing out to mass market <keyword id="5189" type="ORGANIZATION" weightage="100" keywordseo="competition">competition</keyword>. So it decided to go online and tell the tales of its long struggle, its efforts to bring in the very best for its buyers and its newly introduced easy-to-purchase schemes. The company is out of the red but then, that’s the kind of magic Santa has taught us all along. 
 
His products have an ‘emotion’ tag. Santa turns out to be a genius when it comes to the market he chose. <keyword id="1968356" type="UNKNOWN" weightage="100" keywordseo="Toys-and-gifts">Toys and gifts</keyword>. Could there be a better segment where products come with an ‘emotion’ tag? But the same can happen with each and every product – if the promoter can feel the market pulse and cater the right thing. That’s how people fall in love with companies. Apple is one great example in this case. It develops great products, of course, but not all of them are outstanding. So how do we explain the kind of frenzy we see when Apple fans queue up outside the stores? It’s because the company has gained an iconic status and the products hold some kind of emotional value for the buyers. The same thing Santa has been doing through the ages. 
 
He innovates, for all you know. Well, he has to, if he wants to stay in business. Kids all over the world are the most difficult to please and the quickest to throw away all things old. So his business had to evolve, keeping track of all the <keyword id="1756641" type="UNKNOWN" weightage="100" keywordseo="wish-lists">wish lists</keyword> of the world and making them deliverable – within a specific timeframe. In the process, Santa had also shed his orthodox image and become acceptable to a <keyword id="383274" type="UNKNOWN" weightage="100" keywordseo="global-audience">global audience</keyword>. They say <keyword id="90139" type="UNKNOWN" weightage="100" keywordseo="Consumerism">consumerism</keyword> is a great leveller and the wild popularity of Santa across markets proves that point once again. Won’t companies love to <keyword id="1620972" type="ORGANIZATION" weightage="100" keywordseo="innovate">innovate</keyword> and grow their <keyword id="46984" type="ORGANIZATION" weightage="100" keywordseo="global-markets">global markets</keyword> just like Santa has done? 
 
He delivers, without fail. And he has never been shoddy about it. Everything is neatly packed and securely kept… in the stockings and under the Christmas tree. Plus the quality doesn’t suffer although he is travelling all the way from the North Pole. There had never been a <keyword id="101478" type="EVENT" weightage="60" keywordseo="Product-Recall">product recall</keyword> as far as we remember. Now, how many companies can operate like that and keep their reputation intact year after year? 
 
He is vigilant… always. Just like any other <keyword id="1968345" type="UNKNOWN" weightage="100" keywordseo="real-life-entrepreneur">real-life entrepreneur</keyword>, Santa keeps a tab on people (his customers) and how they are behaving – good, bad or ugly. That kind of vigilant <keyword id="1397182" type="UNKNOWN" weightage="100" keywordseo="market-watch">market watch</keyword> keeps him ahead of competition and helps him make a good guess at what’s on the buyers’ mind. And you know what? Santa has done what most FIs are doing – thrown out the bad customers with a chunk of coal flying after them while good customers are listed and served with alacrity. 
 
He has a <keyword id="1283769" type="UNKNOWN" weightage="100" keywordseo="great-team">great team</keyword> and a <keyword id="1968363" type="UNKNOWN" weightage="100" keywordseo="Great-office">great office</keyword>, too. Working with a team of magical <keyword id="1968367" type="COMPANY" weightage="100" keywordseo="Elves">elves</keyword> and flying <keyword id="886086" type="UNKNOWN" weightage="100" keywordseo="reindeer">reindeer</keyword> is something all bosses would love to do. The ‘power of magic’ is the power that lies within everyone – the talent and willingness to work in the face of all odds. Dear old Santa was pretty clever in choosing the location, too. Unless one is scared of freezing, who wouldn’t want to visit those <keyword id="22468" type="UNKNOWN" weightage="100" keywordseo="headquarters">headquarters</keyword> off and on? 
 
He stays hungry… for more. Santa is in love with what he does and that ‘sticky’ factor happens to be the driving force behind his success. It’s a bit difficult to imagine the whole crew selling or outsourcing the business of happiness to some vendor just because he has managed to pay the right sum. It’s not only Santa’s brain child but the core of his existence. The way it had been for <keyword id="45830" type="PERSON" weightage="80" keywordseo="Bill-Gates">Bill Gates</keyword> or <keyword id="6357934" type="PERSON" weightage="80" keywordseo="Steve-Jobs">Steve Jobs</keyword> or thousand others who take immense pride in their <keyword id="395310" type="UNKNOWN" weightage="100" keywordseo="ventures">ventures</keyword> and want to continue with what they are doing. Great <keyword id="48076" type="UNKNOWN" weightage="100" keywordseo="valuations">valuations</keyword> and great offers are cool. But some extraordinary people don’t mind staying hungry and staying foolish – because they want to <keyword id="30450" type="ENTERTAINMENT" weightage="40" keywordseo="Touch">touch</keyword> the sky.

Seven Lessons Santa Can Teach The World And Its Wannapreneurs

The coveted <keyword id="624" type="ORGANIZATION" weightage="100" keywordseo="Women">Women</keyword>’s Day is just two days away and chances are you are rolling out a new list of resolutions that will make life more meaningful throughout the year. On our part, we are back with another unique entrepreneurial <keyword id="6374782" type="UNKNOWN" weightage="80" keywordseo="journey">journey</keyword>, but this time she is a Delhi girl who bhangra-stepped her way through a checkered academic career in Delhi and <keyword id="32755" type="COMPANY" weightage="80" keywordseo="Washington-DC">Washington DC</keyword>, studying Art, Political Communication, Management and Information Systems Marketing before moving on to e-learning, and eventually setting up her <keyword id="2105187" type="UNKNOWN" weightage="100" keywordseo="First-company">first company</keyword>. In the second part of our Power Women series, <keyword id="824043" type="COMPANY" weightage="100" keywordseo="Business-Insider">Business Insider</keyword> India chats with <keyword id="103110" type="PERSON" weightage="100" keywordseo="Anisha-Singh">Anisha Singh</keyword>, founder and <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> of <keyword id="276936" type="COMPANY" weightage="100" keywordseo="Mydala-com">MyDala.com</keyword>, India’s first and largest platform that offers the best discount deals on lifestyle products, <keyword id="4578" type="COMPANY" weightage="40" keywordseo="entertainment">entertainment</keyword>, travel, gadgets, fine dining and more. The company has a merchant base of 100,000-plus and offers its services in more than 145 cities in India. 
 But unlike many full-time businesswomen, Anisha has a ‘sporty’ side and loves to nurture it. She likes adventure <keyword id="6356028" type="COMPANY" weightage="60" keywordseo="Sports">sports</keyword> and sometimes acts as a yoga instructor. What has life in the US and India unfolded before Anisha, and what are her takeaways from the business she is running? Find out from this freewheeling interaction. 
 
I had no plans to start a business; I got inspired… by watching others Although I come from a business family, I had sworn to myself long ago that I would never become an <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">entrepreneur</keyword>. But while I was at the <keyword id="159048" type="ORGANIZATION" weightage="80" keywordseo="American-university">American University</keyword> in Washington DC, I got the opportunity to work with the <keyword id="196118" type="ORGANIZATION" weightage="60" keywordseo="Clinton-administration">Clinton administration</keyword> on an initiative called Springboard. There, we would help <keyword id="74945" type="UNKNOWN" weightage="100" keywordseo="Women-Entrepreneurs">women entrepreneurs</keyword> raise <keyword id="6357455" type="EVENT" weightage="80" keywordseo="Funding">funding</keyword> after shortlisting the best candidates. That’s where I read about these phenomenal women and something just changed within me. 
 Along with the <keyword id="175721" type="UNKNOWN" weightage="100" keywordseo="business-plans">business plans</keyword> (most of which were amazing), those women entrepreneurs had to submit their background stories as well. And those real-life stories of women who were successfully running grocery chains or operating software companies or were involved in similar businesses while being a single mom or managing 4 kids were just so inspirational. I think the entrepreneurial bug bit me sometime around then. So I packed up my bags, came to India and put my thoughts into action to start <keyword id="736994" type="PERSON" weightage="100" keywordseo="mydala">MyDala</keyword>. Even now, I strongly believe that the world, and especially India, needs more <keyword id="2105199" type="UNKNOWN" weightage="100" keywordseo="Women-role-models">women role models</keyword> whether they are women entrepreneurs or <keyword id="6464433" type="UNKNOWN" weightage="100" keywordseo="Women-professionals">women professionals</keyword> across different fields. 
 
Think out of the box to survive Just like all other things, starting your own company will see loads of ups and downs, positives and negatives. But the bigger the business grows, the challenges and the positives will morph into different things. I think it also depends on how you look at a situation. For instance, we didn’t get any funding for MyDala upfront because of a couple of missteps and we could have let that get us down. But in hindsight, it got us to think creatively to survive and make MyDala grow into what it is today – via innovative marketing and alliances. We’re now one of the few companies that work with all major <keyword id="6383126" type="CITY" weightage="100" keywordseo="Telcos">telcos</keyword> and <keyword id="163194" type="COMPANY" weightage="100" keywordseo="OEMs">OEMs</keyword> – giving us the means to reach out to hundreds of millions of prospective users. I don’t think this would ever have happened if we hadn’t learnt to figure out alliances due to the lack of initial funding. We were also fortunate to have some good people guiding us throughout. 
 
Have trust in yourself but seek help when you need it This one is for the wannapreneurs, especially if you are women. People will only believe in you when you believe in yourself – so don’t doubt yourself. If you have set your <keyword id="24479" type="ORGANIZATION" weightage="40" keywordseo="heart">heart</keyword> on doing something, go do it. The worst that can happen is failure, but it’s not all that bad. 
 
Finally, don’t overthink. It’s good to think things through but women always think of every possible reason that can deter them from starting a business. When you start a business, no one can predict how it will go. Of course, initially, it won’t be a bed of roses. But trust me, it all works out fine. Just remember how you juggle your household, kids and family… your work, too, will fall into place in the same way. Have faith in yourself and ask for help when required. We women tend to hesitate more than men about asking for just about anything. The day we get past that, India will see a surge of women entrepreneurs and role models that we desperately need for our younger generations to look up to. 
 
Watch this space tomorrow – <keyword id="122850" type="UNKNOWN" weightage="100" keywordseo="power-women">Power Women</keyword> will be back with their intriguing success stories.

Power Women:
Roadblocks Lead To Creative Solutions That Will Help You Survive

Have you ever walked through an entire start-up lifecycle in the span of a few days? No, we are not going to tell you how quickly a business travelled from concept to success just because someone had the right kind of fire in the belly and then sold it off at a fancy price. Don’t expect an inspirational story this time for one simple reason. Delhi was freezing and so did the brain and a bunch of friends got hooked to a none-too-difficult planet <keyword id="2032541" type="UNKNOWN" weightage="100" keywordseo="Adventure-game">adventure game</keyword> that looked like promising pastime, at least till the sun came out. The good thing about the new game was it worked a lot like the legendary Farmville, which means you spend some pleasant hours, clicking around, exploring the alien planet island and building your base. 
 Did we say pleasant hours of gaming? That might be true for a casual gamer playing once or twice a week. But we did get addicted (that’s not surprising either, since most games are made that way to retain players) and after the initial frenzy to level up at any cost, suddenly noticed a lot of ‘<keyword id="2032547" type="UNKNOWN" weightage="100" keywordseo="Business-parallels">business parallels</keyword>’ that are entrenched in the game – the essential strategies every company needs to practise during the build-up. Here are 7 business fundamentals that ‘wannapreneurs’ may like to learn from this adventure game. 
 
Main image: GameMedia

7 Business Essentials
You Can Learn From An Adventure Game

Come <keyword id="124343" type="UNKNOWN" weightage="100" keywordseo="Womens-Day">Women’s Day</keyword> on March 8 and we get bogged down in a flood of seminars and events, all proclaiming to know what’s best for <keyword id="2101992" type="UNKNOWN" weightage="100" keywordseo="Womens-self-development">women’s self-development</keyword>. But this year, we have decided to move away from the experts and talk with <keyword id="624" type="ORGANIZATION" weightage="100" keywordseo="Women">women</keyword>, whose real-life stories of <keyword id="2101993" type="UNKNOWN" weightage="100" keywordseo="Struggle-and-success">struggle and success</keyword> are bound to inspire all. In the first part of our Power Women series, <keyword id="824043" type="COMPANY" weightage="100" keywordseo="Business-Insider">Business Insider</keyword> India chats with <keyword id="484475" type="PERSON" weightage="100" keywordseo="Sramana-Mitra">Sramana Mitra</keyword>, an <keyword id="2101987" type="UNKNOWN" weightage="100" keywordseo="entrepreneur-and-a-strategy-consultant">entrepreneur and a strategy consultant</keyword> in <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword> since 1994. Her fields of experience span from <keyword id="2101994" type="UNKNOWN" weightage="100" keywordseo="Technology-disciplines">technology disciplines</keyword> like <keyword id="145965" type="TECHNOLOGY" weightage="100" keywordseo="semiconductors">semiconductors</keyword> to sophisticated <keyword id="2101995" type="UNKNOWN" weightage="100" keywordseo="Consumer-marketing-industries">consumer marketing industries</keyword> including <keyword id="6" type="ENTERTAINMENT" weightage="100" keywordseo="fashion">fashion</keyword> and <keyword id="6355445" type="COMPANY" weightage="100" keywordseo="Education">education</keyword>. 
 As a <keyword id="2101998" type="UNKNOWN" weightage="100" keywordseo="Serial-entrepreneur-CEO">serial entrepreneur-CEO</keyword>, Sramana had earlier founded three companies – Dais (off-shore software services), Intarka (sales lead generation and qualification Software; VC: NEA) and Uuma (online personalised store for selling clothes using Expert Systems software; VC: Redwood). Two of these were acquired while the third received an acquisition offer from <keyword id="212570" type="COMPANY" weightage="80" keywordseo="Ralph-Lauren">Ralph Lauren</keyword> which the company did not accept. Back in 2010, she also set up a virtual incubator called <keyword id="484477" type="UNKNOWN" weightage="100" keywordseo="One-Million-by-One-Million">One Million by One Million</keyword>, to help a million entrepreneurs from all over the world to reach a million dollars in annual revenue, build $1 trillion in global <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> and create 10 million jobs. What has life in Silicon Valley has taught Sramana? Here are the edited excerpts from our chat. 
 
<keyword id="107737" type="ORGANIZATION" weightage="100" keywordseo="Entrepreneurship">Entrepreneurship</keyword> is not easy People often ask what inspired me to be an <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">entrepreneur</keyword>. Well, I am an entrepreneur’s daughter. I grew up watching my father run companies and I am sure that was a fundamental influence. But I also believe entrepreneurship is both <keyword id="49685" type="UNKNOWN" weightage="60" keywordseo="Genetic">genetic</keyword> and environmental. My maternal great grandfather was also an entrepreneur; so I had genes from both sides. 
 But let’s come back to the hard facts and let me tell you, entrepreneurship is not easy. Of course, there are many instances of overnight speculative success where you build something for a little bit, and someone comes and scoops it up for a lot of money. However, building long-term, sustainable value is extremely difficult. I have enjoyed my <keyword id="6374782" type="UNKNOWN" weightage="100" keywordseo="journey">journey</keyword>, but I have also made sacrifices to become an entrepreneur. What I am doing today with <keyword id="2102002" type="UNKNOWN" weightage="100" keywordseo="1M">1M/1M</keyword> is extremely difficult, extremely complex. 
 
Get over the <keyword id="150208" type="UNKNOWN" weightage="100" keywordseo="fear-of-failure">fear of failure</keyword> In January 2009, in the midst of raging <keyword id="6371665" type="UNKNOWN" weightage="100" keywordseo="financial-crisis">financial crisis</keyword> and a deep <keyword id="44850" type="UNKNOWN" weightage="100" keywordseo="Global-recession">global recession</keyword>, I hosted an <keyword id="2102006" type="UNKNOWN" weightage="100" keywordseo="Online-entrepreneurship-forum">online entrepreneurship forum</keyword> for <keyword id="2102008" type="UNKNOWN" weightage="100" keywordseo="Laid-off-engineers">laid-off engineers</keyword> who were considering a <keyword id="2102009" type="UNKNOWN" weightage="100" keywordseo="Switch-to-entrepreneurship">switch to entrepreneurship</keyword>. There were 220 people registered for the event and 130 attended. About 145 questions were submitted, from which we synthesised some of the most commonly asked. Among those was one I want to close this volume with: How do you overcome the fear of failure? 
 When I was younger, I had an enormous fear of failure. I was quite used to winning and I was very bad at losing. Since then, while I have been successful in many ways, I have also failed at various attempts. My attempt at building a product company out of India in 1997 succeeded somewhat, but the company did not become a revolutionary brand of the order that I aspired for, nor did it achieve any significant scale. Somewhere along the way, though, I developed the <keyword id="23254" type="PERSON" weightage="100" keywordseo="wisdom">wisdom</keyword> to take things in stride, embrace failure, learn from it and rise above it. 
 
Develop a personal philosophy: <keyword id="6389686" type="PERSON" weightage="100" keywordseo="Faith">Faith</keyword> &amp; <keyword id="88092" type="UNKNOWN" weightage="100" keywordseo="conviction">conviction</keyword> will get you going When I look back on my journey to trace the development of that wisdom, I see one overriding theme. Very early in life, I developed a personal philosophy. An unlikely juxtaposition of ideas culled from various systems of thought – from the <keyword id="62706" type="UNKNOWN" weightage="100" keywordseo="Upanishads">Upanishads</keyword> and <keyword id="28423" type="CITY" weightage="100" keywordseo="vedanta">Vedanta</keyword>, from <keyword id="78326" type="UNKNOWN" weightage="100" keywordseo="hindu-scriptures">Hindu scriptures</keyword>, <keyword id="115232" type="PERSON" weightage="80" keywordseo="Ayn-Rand">Ayn Rand</keyword>’s Atlas Shrugged and The Fountainhead, and certain <keyword id="2102012" type="UNKNOWN" weightage="100" keywordseo="Buddhist-concepts">Buddhist concepts</keyword> of Futility &amp; <keyword id="910745" type="UNKNOWN" weightage="100" keywordseo="nothingness">Nothingness</keyword>. 
 
The Hindu system of thought has a very powerful core concept: Tat Tvam Asi or I Am He. Instead of worshipping an external God, the Hindus believe that God is inside. Indeed, a powerful way of thinking. If the ultimate perfection lies inside you, and all you need to do is realise your own potential, much of your fundamental self-doubt vanishes. At least at an existential level, the individual is complete within. 
 Ayn Rand offers a similarly individualistic perspective, although from a radically different point of view. Rand’s <keyword id="18935" type="ENTERTAINMENT" weightage="80" keywordseo="heroes">heroes</keyword> and heroines move mountains. Although reared in a communist and collectivist Russian background, he celebrates individual achievements and believes in one man’s ability to make a difference. Many entrepreneurs I know have been influenced by Rand’s writings and have drawn inspiration, especially from the character of <keyword id="2102013" type="UNKNOWN" weightage="80" keywordseo="Hank-Rearden">Hank Rearden</keyword> in Atlas Shrugged, who fights against all odds with tremendous <keyword id="740992" type="COMPANY" weightage="100" keywordseo="resilience">resilience</keyword>. Similar <keyword id="38769" type="UNKNOWN" weightage="100" keywordseo="self-confidence">self-confidence</keyword> echoes in The Fountainhead’s architect hero, <keyword id="199919" type="PERSON" weightage="80" keywordseo="Howard-Roark">Howard Roark</keyword>, whose resilience and <keyword id="2102014" type="UNKNOWN" weightage="100" keywordseo="Personal-integrity">personal integrity</keyword> propel him towards a vision of architecture condemned by his contemporaries for its bold originality and threatening innovation. 
 
Yes, conviction and faith are incredibly important components of a sustainable personal philosophy, but where does it come from? How do you develop it? 
 
This is a question you must ask yourself. I can offer pointers on what to study, but how your own psyche will respond to the stimulus – I cannot tell. This is a spiritual, experiential journey, and you have to go it alone. 
 I will, however, share three more components from my own bag of wisdom: <keyword id="52698" type="UNKNOWN" weightage="100" keywordseo="laughter">Laughter</keyword>, <keyword id="54209" type="UNKNOWN" weightage="100" keywordseo="compassion">Compassion</keyword> and Nothingness. 
 
When the individualistic ideology overwhelms, when your head swells with self-aggrandisement, think of the Himalayas. Or the Pacific Ocean. Or the Universe. One can soon comprehend that we are nothing; we are insignificant; we are a single speck of dust in the continuum of time. So why be afraid of failure? 
 
Believe in the <keyword id="46426" type="UNKNOWN" weightage="100" keywordseo="Turnaround">turnaround</keyword> I was once fired from one of my own companies. I raised the <keyword id="6357097" type="COMPANY" weightage="80" keywordseo="venture-capital">venture capital</keyword> and we brought on a middle-aged, supposedly experienced guy as <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword>. I was in my twenties. The guy was incompetent and political. He didn’t understand the product, had no vision. We couldn’t figure any of these out until he joined, because he was on a charm offensive until then and I had limited experience of making a hire like this. We thought he could complement my product skills and vision with superior sales skills. 
 
Once he was on board, it started going downhill very quickly and he set out to fire me. I had massive immigration challenges, and had very little negotiating power because I didn’t have a Green Card then. 
 To cut a long story short, I was in <keyword id="76147" type="CITY" weightage="80" keywordseo="BUENOS-AIRES">Buenos Aires</keyword> when he called a Board Meeting on the phone and fired me. And the Board let him. I walked around on the streets of Buenos Aires trying to absorb the blow. 
 
Six months later, they had to fire the CEO. The angel investors offered to fund me again and start another company. I did. 
 
Life went on… Life always goes on. 
 Finally, if you are a woman and a wannapreneur, here’s one sound piece of advice. Be a damn compelling entrepreneur, not just a damn compelling <keyword id="210081" type="POSITION" weightage="100" keywordseo="woman-entrepreneur">woman entrepreneur</keyword>. 
 
Watch this space tomorrow – <keyword id="122850" type="UNKNOWN" weightage="100" keywordseo="power-women">Power Women</keyword> will be back with their intriguing success stories.

Power Women: I
Was Fired From My Own Company & What I Learnt From It

Do you ever wonder what it would be like if we have a <keyword id="6354576" type="CITY" weightage="80" keywordseo="Facebook">Facebook</keyword> for <keyword id="504808" type="ORGANIZATION" weightage="100" keywordseo="Foodies">foodies</keyword>? <keyword id="6354630" type="PERSON" weightage="60" keywordseo="Mark-Zuckerberg">Mark Zuckerberg</keyword> hasn’t started one yet, but an Indian-origin start-up has come up with a social platform for <keyword id="2067882" type="UNKNOWN" weightage="100" keywordseo="Recipe-sharing">recipe sharing</keyword>. Meet <keyword id="2067846" type="COMPANY" weightage="100" keywordseo="Cucumbertown">Cucumbertown</keyword>.com, a delightfully simple <keyword id="2067867" type="UNKNOWN" weightage="100" keywordseo="Recipe-blogging-platform">recipe blogging platform</keyword> that connects <keyword id="2067869" type="UNKNOWN" weightage="100" keywordseo="Amateur-cooks">amateur cooks</keyword> and <keyword id="2067871" type="UNKNOWN" weightage="100" keywordseo="Pro-chefs">pro chefs</keyword> with the foodies of the world. On this fast-growing <keyword id="6354615" type="ORGANIZATION" weightage="100" keywordseo="Social-network">social network</keyword>, users can publish their recipes without the least hassle and browse through the entire repository of <keyword id="2067874" type="UNKNOWN" weightage="100" keywordseo="Gourmet-creations">gourmet creations</keyword> and <keyword id="2067875" type="UNKNOWN" weightage="100" keywordseo="Culinary-delights">culinary delights</keyword>. However, it is the ‘social’ part that puts one’s <keyword id="1527920" type="UNKNOWN" weightage="100" keywordseo="cooking-skills">cooking skills</keyword> to test. There is a rating system used by the Cucumbertown tribe that effectively makes out whether a recipe is good, average or bad. 
 But what intrigues one most on this recipe <keyword id="1188271" type="UNKNOWN" weightage="100" keywordseo="publishing-platform">publishing platform</keyword> is the ease of use. On Cucumbertown, one can write a recipe in a standard format, add images/multimedia and upload everything with a few clicks. Once your ‘post’ is up, the social platform starts buzzing with <keyword id="824939" type="UNKNOWN" weightage="100" keywordseo="opinions">opinions</keyword>, <keyword id="6400508" type="UNKNOWN" weightage="100" keywordseo="Conversations">conversations</keyword> and ‘<keyword id="31407" type="UNKNOWN" weightage="100" keywordseo="craves">craves</keyword>’ (similar to <keyword id="1110433" type="UNKNOWN" weightage="100" keywordseo="Facebook-likes">Facebook Likes</keyword>). You can also follow your favourite cook/s and get customised notifications when content is published by your friends. Well, of course, <keyword id="629729" type="UNKNOWN" weightage="100" keywordseo="Epicurious">Epicurious</keyword> has it all, but Cucumbertown is aiming even higher and wants to be the <keyword id="279713" type="COMPANY" weightage="100" keywordseo="Tumblr">Tumblr</keyword> in <keyword id="2067884" type="UNKNOWN" weightage="100" keywordseo="Cooking-and-food-space">cooking and food space</keyword>. Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs Cucumbertown (www.cucumbertown.com): A team of four co-founders, hailing from three continents (two from <keyword id="6355033" type="COMPANY" weightage="100" keywordseo="Bangalore">Bangalore</keyword>, one from <keyword id="57516" type="COMPANY" weightage="80" keywordseo="Zurich">Zurich</keyword> and one from Pennsylvania). In fact, none of them had met each other during the build-up period. <keyword id="5645" type="POSITION" weightage="80" keywordseo="CEO">CEO</keyword> <keyword id="326430" type="PERSON" weightage="100" keywordseo="Cherian-Thomas">Cherian Thomas</keyword> worked with <keyword id="188699" type="COMPANY" weightage="80" keywordseo="Zynga">Zynga</keyword> before setting up Cucumbertown in 2012. Other three co-founders include <keyword id="238078" type="POSITION" weightage="100" keywordseo="CTO">CTO</keyword> <keyword id="2067847" type="UNKNOWN" weightage="100" keywordseo="Arun-Prabhakar">Arun Prabhakar</keyword> who had earlier worked with several Indian start-ups such as <keyword id="736993" type="COMPANY" weightage="60" keywordseo="taggle">Taggle</keyword> and TutorVista; <keyword id="2067892" type="UNKNOWN" weightage="100" keywordseo="Chris-Lscher">Chris Lüscher</keyword>, founding partner at <keyword id="2067891" type="UNKNOWN" weightage="100" keywordseo="Information-Architects">Information Architects</keyword>, one of the world’s leading design firms, and <keyword id="2067853" type="UNKNOWN" weightage="100" keywordseo="Dan-Hauk">Dan Hauk</keyword>, <keyword id="2067932" type="POSITION" weightage="100" keywordseo="theme-designer">theme designer</keyword> of <keyword id="825836" type="UNKNOWN" weightage="80" keywordseo="Wordpress">WordPress</keyword>, Tumblr and the likes. Dan left the start-up in August 2013, but still helps whenever he can. 
 Although Cherian calls it a labour of love, he is hell-bent on building a <keyword id="2067893" type="UNKNOWN" weightage="100" keywordseo="global-product">global product</keyword>. The Bangalorean has sought world-class talent and built a strong team – one that has a good understanding of the <keyword id="35145" type="UNKNOWN" weightage="100" keywordseo="global-market">global market</keyword> and is totally aware of the challenges to be faced. The start-up currently operates from <keyword id="108002" type="COMPANY" weightage="100" keywordseo="Mountain-View">Mountain View</keyword> (<keyword id="2379" type="CITY" weightage="100" keywordseo="California">California</keyword>) and Bangalore. 
 
What inspired the venture: Pure passion. A die-hard foodie who loves to <keyword id="9230" type="PERSON" weightage="100" keywordseo="Cook">cook</keyword>, Cherian has always wanted to blog about cooking, but it turned out to be a cumbersome process. Creating a blog, <keyword id="97496" type="PERSON" weightage="100" keywordseo="Writing">writing</keyword> &amp; uploading recipes and putting up images/videos on the site require a lot of technical knowledge. That’s when he realised how difficult it must be for cooks and chefs who may not be tech savvy. “So I decided to build a user-friendly platform, contacted the best guys to help me out and here we are,” reflects Cherian. 
 
What’s the pitch: Cucumbertown aims to be the ‘Tumblr’ for cooking and food space. It offers an attractive alternative to posting recipes and food-related content on WordPress, Tumblr, <keyword id="58677" type="UNKNOWN" weightage="100" keywordseo="Blogger">Blogger</keyword> and so on. The start-up provides an easy-to-use interface for publishing recipes – so that even an amateur cook can gain traction online and wow readers by sharing his/her culinary creations. “We all know what blogging has done to content publishing. Cucumbertown can do the same in cooking &amp; food space, and leverage the potential of <keyword id="1175407" type="UNKNOWN" weightage="100" keywordseo="Internet-commerce">Internet commerce</keyword> in the process,” the CEO says. 
 
How it works: Cucumbertown is to cooking what Tumblr is to blogging and keeping things easy is the start-up’s USP. One can log in via Facebook or create a new account before using the site. Once there, you can publish recipes, upload images and search the <keyword id="2067873" type="UNKNOWN" weightage="100" keywordseo="Recipe-database">recipe database</keyword> by cook, cuisine, course, <keyword id="493272" type="UNKNOWN" weightage="100" keywordseo="Ingredient">ingredient</keyword>, <keyword id="2067917" type="UNKNOWN" weightage="100" keywordseo="Cooking-time">cooking time</keyword> and <keyword id="2067918" type="UNKNOWN" weightage="100" keywordseo="Difficulty-level">difficulty level</keyword>. Search results can be listed based on relevance, popularity or comments. Publishing on the site is especially easy as Cucumbertown provides a plethora of tools, including a <keyword id="2067859" type="UNKNOWN" weightage="100" keywordseo="recipe-editor">recipe editor</keyword>. Moreover, if a recipe is already up, you can post a different version, showing your culinary creativity. 
 
Claim to fame: Traction and global reach-out. The company claims it is one of the fastest growing food <keyword id="50752" type="UNKNOWN" weightage="80" keywordseo="Networks">networks</keyword>, with users from around 40 countries. And right now, it is eyeing further expansion in the US and Europe. Interestingly, Cucumbertown is one of the heavily funded pre-revenue start-ups and has raised money from the same <keyword id="6359051" type="COMPANY" weightage="100" keywordseo="investors">investors</keyword> who had funded companies such as Facebook, <keyword id="6354616" type="CITY" weightage="60" keywordseo="Twitter">Twitter</keyword>, Zynga and <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword>. Till date, the start-up has raised $300K in <keyword id="948731" type="UNKNOWN" weightage="100" keywordseo="seed-funding">seed funding</keyword>. Its key investors include <keyword id="1452668" type="COMPANY" weightage="100" keywordseo="500-Startups">500 Startups</keyword>, <keyword id="2067923" type="UNKNOWN" weightage="100" keywordseo="Naval-Ravikant">Naval Ravikant</keyword> of <keyword id="1922133" type="UNKNOWN" weightage="100" keywordseo="AngelList">AngelList</keyword>, <keyword id="2067926" type="UNKNOWN" weightage="100" keywordseo="Farmville-co-creator">Farmville co-creator</keyword> <keyword id="2067925" type="UNKNOWN" weightage="100" keywordseo="Sizhao-Zao-Yang">Sizhao Zao Yang</keyword>, <keyword id="2067927" type="UNKNOWN" weightage="100" keywordseo="Maneesh-Arora">Maneesh Arora</keyword> of <keyword id="1734576" type="UNKNOWN" weightage="100" keywordseo="MightyText">MightyText</keyword>, <keyword id="2067860" type="UNKNOWN" weightage="80" keywordseo="Richard-Chen">Richard Chen</keyword> (ex-Google PM), <keyword id="2067928" type="UNKNOWN" weightage="100" keywordseo="Sonique-Player-co-creator">Sonique Player co-creator</keyword> <keyword id="2067848" type="UNKNOWN" weightage="80" keywordseo="Tabreez-Verjee">Tabreez Verjee</keyword> and <keyword id="2067850" type="UNKNOWN" weightage="80" keywordseo="Mokriya">Mokriya</keyword> founder-CEO <keyword id="2067849" type="UNKNOWN" weightage="80" keywordseo="Sunil-Kanderi">Sunil Kanderi</keyword>, among others. 
 
Show me the money: As an early consumer Web start-up that emulates <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword>, Cucumbertown is yet to have a solid monetisation model. “In fact, we will look at revenue generation in 3-4 years from now,” says Cherian. “We are now following a similar model that Twitter, Facebook and others pursued, which means we are currently focusing on how the product evolves and gets accepted in the global market. That’s what our investors also want – once the product gets the final shape, money will come in,” he adds. 
 
Cucumbertown has immense growth potential though, as the food and cooking space is getting bigger month on month. For instance, in November last year, 41% Americans visited such websites, up 2 million in terms of unique visitors from October 2013. These numbers won’t go down all of a sudden and the start-up can expect more traction when it starts expanding this year. 
 
Biggest challenge: Scaling to <keyword id="6409094" type="COMPANY" weightage="100" keywordseo="International-Markets">international markets</keyword>, especially non-English markets like <keyword id="87" type="COUNTRY" weightage="80" keywordseo="Germany">Germany</keyword>, while maintaining content and image quality. “We are a small team building a very big product. So we are not thinking about break-even or revenues at this point. The <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> we raised would last for a while. Meanwhile, we must ensure that our users have the <keyword id="2067933" type="UNKNOWN" weightage="100" keywordseo="best-publishing-tools">best publishing tools</keyword>. That way, they will keep coming back to us and the <keyword id="1413000" type="UNKNOWN" weightage="100" keywordseo="User-base">user base</keyword> will grow manifold,” explains Cherian. 
 
A word for wannapreneurs: If you have the passion, go for it. And don’t let failures discourage you. In India, shutting down your business may seem like a disaster, but things are quite different across the globe and especially in Silicon Valley. So many people have failed here, but they have found the courage and the means to start up all over again. Both our entrepreneurs and investors should grow a robust <keyword id="170907" type="UNKNOWN" weightage="100" keywordseo="risk-appetite">risk appetite</keyword> and must have <keyword id="2067937" type="UNKNOWN" weightage="100" keywordseo="Risk-tolerance">risk tolerance</keyword>. Moreover, we should give our ventures adequate time, so that they can generate value in the long run.

This Social Network Presents Amateur
Cooks & Pro Chefs; Wants To Be A Tumblr For Foodies

<keyword id="2085190" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-stores">Online grocery stores</keyword> are gaining popularity in India due to sheer convenience, ease of shopping and a fast-growing market. Globally, <keyword id="2085193" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-retail">online grocery retail</keyword> is growing nearly 7 times faster than on-ground formats and the <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword> may soon catch up. For one, the <keyword id="156795" type="UNKNOWN" weightage="100" keywordseo="indian-retail-industry">Indian retail industry</keyword> is estimated to be worth over $500 billion (one of the world’s top 5 markets) and 30-40% of the businesses will be in the online retail space over the next 7 years., This presents a great opportunity for any form of e-tailing, especially the <keyword id="2085203" type="UNKNOWN" weightage="100" keywordseo="E-grocery-space">e-grocery space</keyword>. 
 As of now, <keyword id="2085207" type="UNKNOWN" weightage="100" keywordseo="Grocery-e-tailing-in-India">grocery e-tailing in India</keyword> is a largely unorganised space and poses a big challenge in terms of stiff <keyword id="2085206" type="UNKNOWN" weightage="100" keywordseo="Entry-barriers">entry barriers</keyword>. The traditional methods of inventory and <keyword id="2085212" type="UNKNOWN" weightage="100" keywordseo="Logistics-management">logistics management</keyword> call for intense cash-burning – a business condition most of the bootstrapped Indian start-ups fail to meet. Moreover, a <keyword id="2085209" type="UNKNOWN" weightage="100" keywordseo="Series-A-funding-crunch">Series A funding crunch</keyword> also compelled companies like Mumbai-based <keyword id="2048780" type="UNKNOWN" weightage="100" keywordseo="ShopVeg">ShopVeg</keyword> to shut down operations. Therefore, when another Mumbai-based start-up decided to start grocery e-tailing in the same year, things were not looking too exciting for the newcomer. But 22 months later, <keyword id="2009014" type="UNKNOWN" weightage="100" keywordseo="LocalBanya-com">LocalBanya.com</keyword> has managed to set up Mumbai’s first online supermarket and also raised <keyword id="6793689" type="UNKNOWN" weightage="100" keywordseo="Series-A-funding">Series A funding</keyword> for the next level of expansion. 
 Although there were predecessors that attempted various models of grocery retail in the digital space and failed, <keyword id="2047523" type="UNKNOWN" weightage="100" keywordseo="LocalBanya">LocalBanya</keyword> has adapted a <keyword id="2085214" type="UNKNOWN" weightage="100" keywordseo="Lean-business-model">lean business model</keyword> that relies on a convenient mix of <keyword id="96173" type="PERSON" weightage="100" keywordseo="warehousing">warehousing</keyword> and <keyword id="512818" type="UNKNOWN" weightage="100" keywordseo="cash-and-carry">cash-and-carry</keyword>. This has reduced the start-up’s dependence on capital-intensive operations and enabled it to put in place a thoroughly efficient <keyword id="118965" type="PERSON" weightage="100" keywordseo="Supply-chain">supply chain</keyword>. In addition, the company has adopted some unique measures to take <keyword id="2085217" type="UNKNOWN" weightage="100" keywordseo="Customer-convenience">customer convenience</keyword> to the next level. Want to know more about LocalBanya and how it works? Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs LocalBanya (www.localbanya.com): A team of three co-founders – <keyword id="2085179" type="UNKNOWN" weightage="100" keywordseo="Karan-Mehrotra">Karan Mehrotra</keyword> (<keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword>), <keyword id="2085180" type="UNKNOWN" weightage="100" keywordseo="Rashi-Choudhary">Rashi Choudhary</keyword> (COO) and <keyword id="1251820" type="PERSON" weightage="100" keywordseo="Amit-Naik">Amit Naik</keyword> (<keyword id="238078" type="POSITION" weightage="100" keywordseo="CTO">CTO</keyword>). Karan is the brain behind LocalBanya and set up the entire infrastructure with just 14 employees. He is a <keyword id="163598" type="POSITION" weightage="60" keywordseo="computer-engineer">computer engineer</keyword> and prior to starting up, worked for his family business as a distributor for <keyword id="123278" type="UNKNOWN" weightage="100" keywordseo="FMCG-firms">FMCG firms</keyword>. He has 11 years of work experience in varied fields – from turning around a chain of restaurants to setting up metal fabrication plants to building a food distribution network. 
 Amit holds an MBA from IIM-Lucknow and he is also a Six Sigma Black Belt from the American Society for Quality. He had six years of top tier experience in ad-tech and earlier worked for <keyword id="1076906" type="ORGANIZATION" weightage="80" keywordseo="Directi">Directi</keyword> and <keyword id="45475" type="CITY" weightage="80" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword>. Rashi holds a Global MBA from <keyword id="1433263" type="UNKNOWN" weightage="60" keywordseo="SP-Jain-School-of-Global-Management">SP Jain School of Global Management</keyword> and brings four years of experience in <keyword id="6553136" type="UNKNOWN" weightage="100" keywordseo="retailing">retailing</keyword>, consulting and <keyword id="169305" type="ORGANIZATION" weightage="100" keywordseo="customer-service">customer service</keyword>. Prior to joining LocalBanya, she worked with the <keyword id="244481" type="COMPANY" weightage="60" keywordseo="Raymond-Group">Raymond Group</keyword>. 
 The trio had been working on the concept for some time and the site went live in May 2012. LocalBanya is now in beta and the e-grocer has over 130 employees operating across Mumbai, Thane and <keyword id="57321" type="PERSON" weightage="100" keywordseo="Navi-Mumbai">Navi Mumbai</keyword>. 
 
What inspired the venture: The desire to go one step ahead of your <keyword id="2085220" type="UNKNOWN" weightage="100" keywordseo="Local-grocer">local grocer</keyword> who accepts orders on phone. “Apparently, it was convenient but there was something lacking. You can’t browse the inventory when ordering on phone; the choices are not many (after all, a kirana or <keyword id="2085221" type="UNKNOWN" weightage="100" keywordseo="Mom-and-pop-store">mom-and-pop store</keyword> won’t keep exotic or imported items as those are a bit expensive) and finally, there’s no organised system (accountable, responsible and prompt),” says Karan. So up came LocalBanya, an online supermarket selling around 12,000 products across 17 categories and adding more every day. 
 
What’s the pitch: LocalBanya.com is an <keyword id="2085223" type="UNKNOWN" weightage="100" keywordseo="Online-convenience-store">online convenience store</keyword> dedicated to YOU (customers). The e-grocer offers high quality products and hassle-free delivery that save time, energy and money. “If you are <keyword id="62452" type="UNKNOWN" weightage="100" keywordseo="grocery-shopping">grocery shopping</keyword> 4-5 times a month or looking for something special, imagine the kind of supermarket trips you have to make and how you have to run from shop to shop,” points out Karan. “But having the entire bulk procured for you and delivered to your place, at the time you want it, would make things extremely convenient and lure the customers,” he adds. Karan, however, feels that the industry is huge enough to allow kirana stores, large-format retailers and e-retailers to survive and grow in the same marketplace. 
 
How it works: As of now, LocalBanya is targeting the <keyword id="6756404" type="UNKNOWN" weightage="100" keywordseo="urban-population">urban population</keyword> and the customer base varies from <keyword id="2085227" type="UNKNOWN" weightage="100" keywordseo="Single-professionals">single professionals</keyword>, <keyword id="632195" type="UNKNOWN" weightage="100" keywordseo="working-couples">working couples</keyword>, <keyword id="168112" type="UNKNOWN" weightage="100" keywordseo="Nuclear-families">nuclear families</keyword> and <keyword id="3216" type="ORGANIZATION" weightage="100" keywordseo="students">students</keyword> fending for themselves to <keyword id="1400200" type="UNKNOWN" weightage="100" keywordseo="new-mothers">new mothers</keyword>, <keyword id="20566" type="UNKNOWN" weightage="100" keywordseo="senior-citizens">senior citizens</keyword> and even <keyword id="2085229" type="UNKNOWN" weightage="100" keywordseo="Large-families">large families</keyword>. 
 “People come to us for a wide selection of goods (otherwise, they will have to visit 2-3 stores to make a purchase), convenience and great pricing. We deliver that convenience with exceptional levels of customer service, <keyword id="2085230" type="UNKNOWN" weightage="100" keywordseo="Preferred-delivery-times">preferred delivery times</keyword>, same-day deliveries, fresh produce and efficient &amp; reliable suppliers. We also take product suggestions from our customers and ensure that the products are online in a fortnight,” details the LocalBanya team. The <keyword id="2085232" type="UNKNOWN" weightage="100" keywordseo="Procurement-model">procurement model</keyword> includes a convenient mix of warehousing and just-in-time (<keyword id="377986" type="ORGANIZATION" weightage="100" keywordseo="JIT">JIT</keyword>) deliveries from a host of suppliers including <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword> companies, cash-and-carry outlets and other distributors. 
 Shopping for groceries on the LocalBanya platform is also kept simple. You just have to register or connect through Facebook before browsing the categories and the products. Once you make the purchase, the order is processed and ready for delivery within 6 hours. Delivery is done as per your time slot selection. The company offers 6 slots (of 2 hours each), from 7 in the morning until midnight, and one can choose any of those. Customers also enjoy <keyword id="2085234" type="UNKNOWN" weightage="100" keywordseo="Banya-Points-rewards-programme">Banya Points rewards programme</keyword> and these points are redeemed for cash discounts on every purchase. 
 
Claim to fame: <keyword id="900658" type="UNKNOWN" weightage="100" keywordseo="traction">Traction</keyword> and <keyword id="232730" type="POSITION" weightage="100" keywordseo="business-model">business model</keyword>. The start-up claims that it currently reaches over 10,000 homes a month and delivers 500-plus orders a day. Interestingly, nearly one-third of its orders are from <keyword id="1189616" type="UNKNOWN" weightage="100" keywordseo="institutional-clients">institutional clients</keyword> while senior citizens and <keyword id="58225" type="ORGANIZATION" weightage="100" keywordseo="NRIs">NRIs</keyword> constitute over 16% of the customer base. But what matters most is the <keyword id="2085235" type="UNKNOWN" weightage="100" keywordseo="Lean-infrastructure">lean infrastructure</keyword> set-up for reducing asset liabilities. 
 
Show me the money: Since its <keyword id="85080" type="ENTERTAINMENT" weightage="100" keywordseo="Inception">inception</keyword> in May 2012, LocalBanya has done around Rs 15 crore in gross revenues. The start-up is projected to grow 40% month on month over the next 15-18 months and eyes <keyword id="486782" type="UNKNOWN" weightage="100" keywordseo="break-even">break-even</keyword> in the existing markets (Mumbai, Thane and Navi Mumbai) by June this year. 
 LocalBanya was initially bootstrapped, but has already raised two rounds of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword>. It is now in talks with investors to raise a Series B round by March 2014. In January this year, the start-up secured an undisclosed amount in Series A funding from <keyword id="2009015" type="UNKNOWN" weightage="80" keywordseo="Karmvir-Avant-Group">Karmvir Avant Group</keyword>, a real estate developer in Mumbai. Earlier, it had raised funding from <keyword id="2085241" type="UNKNOWN" weightage="100" keywordseo="Times-Groups-Brand-Capital-Springboard">Times Group’s Brand Capital Springboard</keyword> platform. “The Series A round will last us for a year and help fuel our growth at a faster rate as we scale up operations, hiring and marketing. We are also looking to start operations in a new city within a quarter,” says Karan. 
 
Biggest challenge: Competition abounds in online grocery retail space but containing cash-burning is most crucial when it comes to inventory, supply chain and logistics. Streamlining the supply chain and <keyword id="2085210" type="UNKNOWN" weightage="100" keywordseo="Inventory-management">inventory management</keyword> is an uphill task but a lean procurement set-up, use of <keyword id="2085238" type="UNKNOWN" weightage="100" keywordseo="Leased-delivery-vehicles">leased delivery vehicles</keyword>, <keyword id="2085242" type="UNKNOWN" weightage="100" keywordseo="In-house-delivery-personnel">in-house delivery personnel</keyword> (for ease of management) and a well-structured <keyword id="2085243" type="UNKNOWN" weightage="100" keywordseo="Region-mapping">region mapping</keyword> that enables effective coverage of the city have helped the start-up cut down on costs. 
 
Five takeaways: In nearly 2 years of operation, LocalBanya has seen some interesting trends in <keyword id="2085200" type="UNKNOWN" weightage="100" keywordseo="Online-grocery-shopping">online grocery shopping</keyword> behaviour and Karan &amp; his team want to share it with the budding wannapreneurs and all our readers. So here we go: 
 
59% of the transactions on the site are done by women. 
 
Senior citizens are a sizeable 14% of the customer base due to the convenience of online retail. 
 
A sizeable 2.1% of transactions are done by NRIs to have groceries delivered to their relatives in Mumbai. 
 
Institutional clients including restaurants, corporate houses, co-operative societies and any other organisation requiring groceries in bulk have seen the advantage of e-grocery and 29% of the business comes from these channels. 
 
Around 11% of LocalBanya’s deliveries are done during the 10 pm-12 midnight slot. And the last trend brings us back to the convenience factor. How many e-grocers or physical retail stores in India would be doing that in a bid to break out of the pack?

This E-grocery Start-up Uses A Lean Model For Its Online Supermarket; In Talks To Raise Series B
Funding

Do you have a little extra cash that you want to spend for a good <keyword id="22752" type="PERSON" weightage="100" keywordseo="cause">cause</keyword>? Have you always wanted to help a cause but didn’t know where to put your money? Or do you own a company that focuses on corporate social responsibility and wants to make sustainable <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword>? One way of doing it is to donate the money, but there’s a small snag. The money you spend is gone for good – it can’t be used multiple times to help more people. But how about helping people as many times as you want, using the same capital you have spent in the beginning? And getting the entire amount back in monthly repayments? Call it sustainable giving or crowd lending, this kind of financial model enables you to do all these and one <keyword id="6404679" type="UNKNOWN" weightage="100" keywordseo="start-up">start-up</keyword> is leveraging it to enhance life at the <keyword id="140518" type="UNKNOWN" weightage="100" keywordseo="bottom-of-the-pyramid">bottom of the pyramid</keyword>. 
 Welcome to <keyword id="2108864" type="UNKNOWN" weightage="100" keywordseo="Milaap-Social-Ventures">Milaap Social Ventures</keyword>, a social enterprise operating from Bangalore and <keyword id="6356662" type="COUNTRY" weightage="100" keywordseo="Singapore">Singapore</keyword>, which has developed an online crowd-funding platform to help the unbanked and the <keyword id="2108896" type="UNKNOWN" weightage="100" keywordseo="Underprivileged-masses">underprivileged masses</keyword> in <keyword id="3658" type="COUNTRY" weightage="100" keywordseo="India">India</keyword>. Simply put, <keyword id="6734688" type="UNKNOWN" weightage="100" keywordseo="Milaap">Milaap</keyword> (it means ‘connecting together’ in Hindi) offers an RBI-approved micro-lending platform that allows the organisation to receive ‘loans’ from all over the world. Although <keyword id="2108903" type="UNKNOWN" weightage="100" keywordseo="Individual-lenders">individual lenders</keyword> don’t get ‘financial returns’ on their investments (after all, you are putting in your money for a ‘good cause’), they get the principal back after the stipulated period. They can then re-deploy the money to help another person/project or cash out their principal. This helps create a <keyword id="2108904" type="UNKNOWN" weightage="100" keywordseo="Continuous-funding-cycle">continuous funding cycle</keyword>, more effective and sustainable than one-time donations. Want to know more about how Milaap is connecting the haves and the have-nots in a bid to help implement life-enhancing projects? Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs Milaap (milaap.org): A team of three co-founders – <keyword id="1270675" type="PERSON" weightage="100" keywordseo="Sourabh-Sharma">Sourabh Sharma</keyword> (<keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword>), <keyword id="2108870" type="PERSON" weightage="100" keywordseo="Anoj-Viswanathan">Anoj Viswanathan</keyword> and <keyword id="2108865" type="UNKNOWN" weightage="100" keywordseo="Mayukh-Choudary">Mayukh Choudary</keyword>. Sourabh, a graduate from the <keyword id="87108" type="ORGANIZATION" weightage="60" keywordseo="National-University-of-Singapore">National University of Singapore</keyword>, started his first company, a mobile app start-up, straight out of college and ran it for more than two years. Next, he had a stint with corporate houses but soon joined hands with the other two co-founders to start Milaap. 
 Anoj holds a degree in Engineering from the National University of Singapore and he is also a StartingBloc Fellow (2010). Prior to co-founding Milaap, he had worked with SKS <keyword id="113684" type="COMPANY" weightage="100" keywordseo="microfinance">Microfinance</keyword> and focused on the energy and water services space. Earlier, he had been at <keyword id="2108863" type="UNKNOWN" weightage="60" keywordseo="ReEx-Capital-Asia">ReEx Capital Asia</keyword>, a cleantech investment boutique in Singapore, and served as a fellow at D.light Design. He is also a founder member of the <keyword id="2108877" type="UNKNOWN" weightage="60" keywordseo="Microfinance-Society-in-Singapore">Microfinance Society in Singapore</keyword> and leads the Milaap team in India. 
 Mayukh is an <keyword id="198748" type="POSITION" weightage="60" keywordseo="electrical-engineer">electrical engineer</keyword> from IIT Madras and holds a PGDM from IIM Lucknow. He specialises in building technology-enabled financing models and worked as a <keyword id="2108874" type="UNKNOWN" weightage="60" keywordseo="financial-risk-consultant-in-Dubai">financial risk consultant in Dubai</keyword> before starting up Milaap. 
 
What inspired the venture: A sabbatical that changed life. In 2008, Anoj took some time off to be with SKS Microfinance and worked on a project to provide solar lanterns on credit in a few tribal villages in <keyword id="6357961" type="CITY" weightage="100" keywordseo="Odisha">Odisha</keyword>. There he met Mayukh who was then working with the solar lantern-maker D.lightdesign. While on this project, Anoj noticed how <keyword id="6621346" type="UNKNOWN" weightage="100" keywordseo="Small-loans">small loans</keyword> impacted life in a big way, especially at the bottom of the pyramid, and the idea of Milaap came to his mind. Developing a crowd-funding platform to connect India’s underprivileged with prosperous individuals and <keyword id="2108906" type="UNKNOWN" weightage="100" keywordseo="Institutional-lenders">institutional lenders</keyword> across the globe seemed the right way to go about it. Anoj, who knew Sourabh from 2006 when he interned at his previous start-up Microappli, got him and Mayukh together to give shape to the idea of Milaap, which finally went live in June 2010. 
 
What’s the pitch: <keyword id="2108919" type="UNKNOWN" weightage="100" keywordseo="Lend-a-little">Lend a little</keyword>, <keyword id="2108920" type="UNKNOWN" weightage="100" keywordseo="change-a-lot">change a lot</keyword> – that’s Milaap’s motto and it has started happening. “India has a large pool of people who don’t have access to traditional banking, but they do require <keyword id="2108923" type="UNKNOWN" weightage="100" keywordseo="Funds-for-self-employment">funds for self-employment</keyword> and developmental initiatives. So we are leveraging the global reach of the <keyword id="6357247" type="PERSON" weightage="100" keywordseo="Internet">Internet</keyword> and trying to ensure that people – either individually or through their <keyword id="23045" type="UNKNOWN" weightage="100" keywordseo="social-networks">social networks</keyword> – can raise and lend capital to the millions who are unbanked and underprivileged,” says Sourabh. 
 Milaap is currently targeting over 700 million Indians who are mostly living in the rural &amp; semi-urban areas and unable to access formal sources of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword>. According to the social enterprise, less than 5% of them are able to procure reasonably priced, life-improving loans for their small businesses, vocational training or other essential household assets, and that’s where the ‘loans’ raised by Milaap come in . 
 
How it works: At Milaap, the work is done in two stages. One part is <keyword id="2108932" type="UNKNOWN" weightage="100" keywordseo="Shortlisting-borrowers">shortlisting borrowers</keyword> and publishing their profiles/projects on Milaap.org for crowd funding. Second part is deployment of the loans, monitoring their usage and ensuring timely repayments. Understandably, the second part is more cumbersome and requires a lot of offline work. Milaap has already tied up with 20-plus carefully selected ‘field partners’ (chosen from a wide range of <keyword id="164768" type="UNKNOWN" weightage="100" keywordseo="Microfinance-institutions">microfinance institutions</keyword> or <keyword id="113682" type="ORGANIZATION" weightage="100" keywordseo="MFIs">MFIs</keyword>, <keyword id="1417942" type="UNKNOWN" weightage="100" keywordseo="Social-Businesses">social businesses</keyword>, <keyword id="2108940" type="UNKNOWN" weightage="100" keywordseo="Vocational-training-institutions">vocational training institutions</keyword>, etc.,) to identify the most deserving candidates/projects for loans. Once they are selected, each <keyword id="2108943" type="UNKNOWN" weightage="100" keywordseo="Borrowers-profile">borrower’s profile</keyword> is uploaded on the site, along with the fund raised till date and the amount still required for completing the loan. 
 Lending online is quite simple, though. Browse through the profiles to choose a borrower or select one from an impact area that you feel strongly about. You can also use various parameters such as cause, <keyword id="6379164" type="ORGANIZATION" weightage="100" keywordseo="LOCATION">location</keyword>, <keyword id="2108946" type="UNKNOWN" weightage="100" keywordseo="Project-urgency">project urgency</keyword>, <keyword id="2108948" type="UNKNOWN" weightage="100" keywordseo="Repayment-period">repayment period</keyword>, women-centric projects to fine-tune your <keyword id="2108951" type="UNKNOWN" weightage="100" keywordseo="Borrower-search">borrower search</keyword>. After the loan payment is made online, Milaap disburses the amount to the concerned <keyword id="2108956" type="UNKNOWN" weightage="100" keywordseo="Field-partner">field partner</keyword> and the end-borrower gets it from the field partner. When repayment is done (end-borrower – field partner – Milaap), ‘credits’ are accumulated in your Milaap account. When the loan is fully repaid, you can either withdraw the money or roll it into another project. As for diehard do-gooders, there are even more options to <keyword id="2108961" type="UNKNOWN" weightage="100" keywordseo="Start-fundraising">start fundraising</keyword> for the projects you prefer. 
 
Claim to fame: The concept and the build-up. According to the co-founders, crowd-funding is still a niche concept in the country but it is gaining traction gradually. Till date, Milaap has raised and disbursed over Rs 8.4 crore in 8,633 loans, impacting more than 46,393 people across 11 states in India. These loans are essentially raised to fulfil a wide range of <keyword id="2108963" type="UNKNOWN" weightage="100" keywordseo="Developmental-requirements">developmental requirements</keyword> including <keyword id="566897" type="ORGANIZATION" weightage="100" keywordseo="basic-education">basic education</keyword> &amp; vocational training, <keyword id="572926" type="COMPANY" weightage="100" keywordseo="seed-capital">seed capital</keyword> for small businesses, <keyword id="2109008" type="UNKNOWN" weightage="100" keywordseo="Access-to-clean-water">access to clean water</keyword> &amp; <keyword id="49770" type="UNKNOWN" weightage="100" keywordseo="Sanitation">sanitation</keyword>, and <keyword id="2109012" type="UNKNOWN" weightage="100" keywordseo="Safe-lighting">safe lighting</keyword>. Moreover, Milaap boasts 100% repayment of loans till now, indeed a rare feat when banks and big <keyword id="34503" type="COMPANY" weightage="100" keywordseo="financial-institutions">financial institutions</keyword> (<keyword id="4776620" type="CITY" weightage="100" keywordseo="FIs">FIs</keyword>) are suffering from the rise in bad loans. 
 The organisation is also focusing on <keyword id="2109025" type="UNKNOWN" weightage="100" keywordseo="Pan-India-expansion">pan-India expansion</keyword>. “Earlier, we were mostly operating in states like <keyword id="20154" type="ORGANIZATION" weightage="80" keywordseo="tamil-nadu">Tamil Nadu</keyword> and <keyword id="13126" type="COMPANY" weightage="100" keywordseo="Maharashtra">Maharashtra</keyword>. But now we are scaling up our operations and growing in states like Odisha, <keyword id="65591" type="CITY" weightage="100" keywordseo="Mizoram">Mizoram</keyword> and even Gujarat,” notes Sourabh. 
 
Show me the money: While a borrower gets the entire sum offered by the lender, Milaap charges its field partners a 5% fee on the loans disbursed through them, to cover its operating costs. Its field partners, in turn, charge affordable interest from the end-borrower to meet their operating costs. Milaap also makes sure that all fees are disclosed upfront. 
 
Unlike many other ventures in this space, this social enterprise is a for-profit concern, but has not reached break-even yet. However, it has found some solid backers and already raised $1.1 million in Series A venture funding in May 2013. The money raised is being utilised for developing the online platform further and scaling up operations. “We want the number of lenders to go up to 100,000 in the next 18 months. That is the tipping point from where we can gather momentum and look at break-even,” adds Sourabh. 
 The <keyword id="2026013" type="UNKNOWN" weightage="100" keywordseo="Series-A-round">Series A round</keyword> was led by Singapore-based <keyword id="969909" type="ORGANIZATION" weightage="80" keywordseo="Jungle-Ventures">Jungle Ventures</keyword>, an early-stage investment firm and an approved <keyword id="2109042" type="UNKNOWN" weightage="100" keywordseo="Technology-incubator">technology incubator</keyword> under the <keyword id="2109044" type="ORGANIZATION" weightage="100" keywordseo="Singapore-National-Research-Foundation">Singapore National Research Foundation</keyword>’s Technology Incubation Scheme. Other investors included <keyword id="2109045" type="UNKNOWN" weightage="100" keywordseo="Toivo-Annus">Toivo Annus</keyword> (<keyword id="170488" type="POSITION" weightage="100" keywordseo="co-founder">co-founder</keyword> of <keyword id="6377887" type="COMPANY" weightage="60" keywordseo="Skype">Skype</keyword>), <keyword id="2072941" type="UNKNOWN" weightage="100" keywordseo="LionRock-Capital">Lionrock Capital</keyword> (a Singapore-based <keyword id="2109046" type="UNKNOWN" weightage="100" keywordseo="Family-investment-office">family investment office</keyword>), <keyword id="2108869" type="PERSON" weightage="80" keywordseo="Jayesh-Parekh">Jayesh Parekh</keyword> (Co-Founder, Sony Entertainment Television) as well as existing investor, <keyword id="1509738" type="ORGANIZATION" weightage="80" keywordseo="Unitus-Seed-Fund">Unitus Seed Fund</keyword>. The company is looking to raise a Series B round worth $3-5 million in the second half of CY2014. 
 Earlier, between August 2010 and January 2012, Milaap raised $250,000 in seed investment from Unitus Seed Fund, <keyword id="211897" type="COMPANY" weightage="60" keywordseo="First-Light-Ventures">First Light Ventures</keyword>, <keyword id="198636" type="PERSON" weightage="80" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> (Founder, <keyword id="338385" type="COMPANY" weightage="60" keywordseo="One97">One97</keyword>) and <keyword id="2108867" type="UNKNOWN" weightage="80" keywordseo="Rajiv-Madhok">Rajiv Madhok</keyword> (Founder, <keyword id="312199" type="ENTERTAINMENT" weightage="60" keywordseo="Oorja">Oorja</keyword>). 
 Interestingly, only 40% of the total lending amount comes from individual lenders (mostly from India, Singapore, the US and <keyword id="6356687" type="COUNTRY" weightage="100" keywordseo="canada">Canada</keyword>) while 60% funding comes from institutional lenders, social funding and even family offices. But unlike <keyword id="2109229" type="UNKNOWN" weightage="100" keywordseo="Small-lenders">small lenders</keyword>, large institutional and <keyword id="2109230" type="UNKNOWN" weightage="100" keywordseo="HNI-lenders">HNI lenders</keyword> get 3-4% return on their loans. 
 
Biggest challenge: There is competition from a few sites like <keyword id="1658892" type="UNKNOWN" weightage="100" keywordseo="Kiva">Kiva</keyword> or Wishberry, but it is still a niche space and <keyword id="2109065" type="UNKNOWN" weightage="100" keywordseo="Discoverability">discoverability</keyword> is the main challenge now, feels Sourabh. “We need to do more marketing and promotion to let people know such a platform exists. That will help us get more lenders on board, more field partners and subsequently, help more and more people get life-changing access to capital,” he says. 
 
A word for wannapreneurs: Take the plunge and do it. ‘Now’ is always a good time to do it – so don’t hesitate. I always feel that the risk part is overrated in entrepreneurship. You actually need the experience before you can succeed. So start early and make sure that you get the kind of experience you need for long-term success. Your first initiative may not be all that great but at least, you would have learnt from all your mistakes. Try fast and fail fast before you can succeed.

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