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<ul><li>This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history.</li><li>The highest package offered during the drive was ₹ 3.5 lakh per month.</li><li>The average and median stipends offered to students were ₹ 1.41 lakh per month and ₹ 1.5 lakh per month. </li></ul> The Indian Institute of Management, <keyword id="6355192" type="General" weightage="50" keywordseo="lucknow" source="Orion">Lucknow</keyword> (IIM-L) has scored 100 per cent placement in its summer placement drive. The drive -- held for the 38th batch of <keyword id="473399" type="General" weightage="50" keywordseo="post-graduate-programme-in-management" source="Orion">Post Graduate Programme in Management</keyword> and 19th batch of PG Programme in Food and Agri-Business Management -- saw 566 students getting a total of 570 offers. This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history. According to a press release issued by IIM-L, the highest package offered during the drive was ₹ 3.5 lakh per month. The average and median stipends offered to students were ₹1.41 lakh per month and ₹ 1.5 lakh per month, respectively. This is also the highest-ever in IIM-L's history, added the communique. Students secured offers in varied fields -- including consulting, finance, general management, IT &amp; analytics, sales and marketing, operations and retail e-commerce -- from top recruiters across the globe. During the drive, several major companies came to hire IIM-L students for the first time. These included -- Alkem Laboratories, Berger Paints, Bharat Serums &amp; Vaccines, Big Basket, Castrol, CK Birla, DSP Investment Managers, GEF Capital Partners, <keyword id="720079" type="General" weightage="50" keywordseo="ivycap-ventures" source="Orion">IvyCap Ventures</keyword>, <keyword id="1196648" type="General" weightage="50" keywordseo="lincoln-international" source="Orion">Lincoln International</keyword>, L'oreal, Ninjacart, Redseer Consulting, SBI Capital, Sony Pictures, The <keyword id="1855697" type="General" weightage="50" keywordseo="rohatyn-group" source="Orion">Rohatyn Group</keyword>, <keyword id="4053635" type="General" weightage="80" keywordseo="transunion-cibil" source="Orion">Transunion Cibil</keyword>, and <keyword id="5921903" type="General" weightage="80" keywordseo="whiteboard-capital" source="Orion">Whiteboard Capital</keyword>. Meanwhile, several other companies that have recruited from the institute earlier as well also participated in the drive. These included -- Accenture, Aditya Birla Group, Adobe, Alvarez &amp; Marsal, Amazon, Arthur D. Little, Atlassian, <keyword id="6429146" type="General" weightage="80" keywordseo="avendus-capital" source="Orion">Avendus Capital</keyword>, Bain &amp; Company, Boston Consulting Group, Citi Group, Colgate-Palmolive and Deloitte. "Despite the current state of economy, the placement drive was made a huge success by the relentless support of recruiters and placement teams, making it the best placements with more than 185+ recruiters participating in the process," said the IIM-L release SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-dominate-the-india-rich-list-with-the-gap-between-them-the-rest-of-india-inc-being-a-very-large-one/articleshow/94751112.cms">Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-to-declare-iphone-5c-obsolete-by-next-month/articleshow/94750969.cms">Apple to declare iPhone 5c 'obsolete' by next month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/1000-ev-charging-stations-to-be-set-up-in-delhi-in-a-year-govt/articleshow/94742229.cms">1,000 EV charging stations to be set up in Delhi in a year: govt</a>

IIM-L scores 100% placement

<keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, the poster child of the Indian startup ecosystem, was devalued for the seventh time in January 2017, by <keyword id="4205639" type="UNKNOWN" weightage="20" keywordseo="fidelity-partners">Fidelity Partners</keyword>. At a $5.56 billion valuation, Flipkart’s shares were valued at $52.13 in November 2016, down by 36.1 percent from $81.55 per share as of August 2016. The domino effect hit the cab aggregator <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> next with the US-based investment firm <keyword id="4205636" type="UNKNOWN" weightage="20" keywordseo="vanguard-world-fund">Vanguard World Fund</keyword> marking down Ola by over 40 percent. 
 According to their regulatory filing with the <keyword id="108474" type="ORGANIZATION" weightage="20" keywordseo="US-Securities-and-Exchange-Commission">US Securities and Exchange Commission</keyword>, the current valuation for Ola is now $3 billion, with its shares dropping from $311.27 per share in the previous quarter to $182.70 apiece. During their peak, Ola had raised $500 million at a valuation of $5 billion. 
 That’s not all. According to reports, e-commerce giant <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is reportedly looking at raising funds at a lower valuation of $4 billion. At their last fundraising round, they raised $200 million at a valuation of $6.5 billion. 
 
Valuations are normally decided according to a company’s market share, its gross margins, and its rate of growth, among other factors, but is anyone talking about the elephant in the room? Does a number decide a company’s worth or does the mettle lie someplace else? 
 
What’s The Big Deal about Valuations? 
 
While Valuations and devaluations are part of the game, they are a mix of market environment, risk appetite, a fund manager’s biases, hot new trends, fear of missing out, the multiples comparable are commanding, and of course, expected cash flows and margins. 
In 2015, we lauded the entry of Flipkart, Ola and Snapdeal in the Unicorn club. The first quarter of 2015 saw over $1.7 billion funding in start-ups and all we hear now are downturns with reality hitting the magic creatures to the ground and forcing them to compete in a horse race for fund-raising. 
 
<a href="http://www.businessinsider.in/heres-how-uber-is-letting-you-earn-from-its-platform-uberdost/articleshow/57083396.cms">ALSO READ: Here's how Uber is letting you earn from its platform 'UberDost'</a> 
 
While there were muffled concerns of profitability and unit economics, the dynamics took a harder turn when in the middle of 2016 the world economic dynamics shifted. 
 
Suddenly, the pouring funding started slowing down, news of firing rounds, internal tiffs, and investor involvement began to cloud the startup skyline. 
 
Now the lauded valuations started to seem bloated and overhyped, and the cost-cutting started and it doesn’t seem to end. 
 
 
 
 
The secret is in the Business Model 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>, while digging deeper into factors ailing the startup ecosystem in India, realized that business models had to be one of the core ingredients to a startup’s success or failure. So, we got in touch with key players, notable investors and successful companies that had a say in the functions of the industry. 
 
What clearly emerged was that there were mainly three business models that most start-ups and unicorns, followed in India- 
 
1) Cut prices to gain industry share and chase profit later 
2) Set up person-to-person exchanges 
3) On-Demand Model 
 
Now we break down the models to see why Indian start-ups think they’d work and why they haven’t succeeded yet. 
 
Investors’ Point of View 
 <keyword id="262067" type="PERSON" weightage="20" keywordseo="Mahesh-Murthy">Mahesh Murthy</keyword>, Co-Partner, Seedfund, one of India’s most vocal investors told us what’s wrong with the Indian startup ecosystem,”The problem is that we are idolizing businesses that are not ‘New’. There is nothing elusive or different about the companies we look up to, they are just copycats.’’ 
 Seedfund, which is an early stage VC firm has invested in companies like Redbus.in, Chumbak, Carwale, and Voonik. “Real businesses need little or no marketing. The cost of acquiring a customer shouldn’t be higher than your investment in your product which is what is happening right now’’<keyword id="20148" type="PERSON" weightage="20" keywordseo="murthy">Murthy</keyword> comments on the viability of the business models of India’s best-known <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>. 
 “Innovation for the sake of innovation is useless. Most consumers prefer the companies that are competitors to Flipkart, Snapdeal, and Ola and that speaks volumes. We are just looking for great service coupled with great value for money and <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword> and Uber give us that while the other companies don’t hit the mark while getting celebrity endorsements with full-page ads.’’ 
 “Rule Number 1 of business: Never lose money. Rule Number 2: Don’t forget Rule Number 1,” said <keyword id="71133" type="PERSON" weightage="20" keywordseo="Warren-Buffet">Warren Buffet</keyword>, probably the most popular investor in the world. 
 <keyword id="542474" type="PERSON" weightage="20" keywordseo="Reid-Hoffman">Reid Hoffman</keyword> from <keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> and now a VC says that as a VC, you should be able to put your money into a startup and walk away from your investment and at the most, you are best placed to understand a sector if you have built a business in it or at the very least, worked in it. For Indian start-ups, we see the opposite happening with Flipkart who recently appointed <keyword id="6379357" type="UNKNOWN" weightage="20" keywordseo="Kalyan-Krishnamurthy">Kalyan Krishnamurthy</keyword> as CEO, who is an ex-employee at Flipkart’s key investor, Tiger Global. 
 
What is a business model? 
 
A business model explains which consumer pain a startup chooses to relieve, why your solution works better than competing ones and how big a wedge a company can drive between what customers are willing to pay and the costs. 
 
Breaking down the Business Models 
 
There are broadly the following business models at play when it comes to start-ups that hold the public eye in India: 
 
1. Cut prices to gain an industry share and chase profit later: Target a huge market and sell a product at the lowest price with fast delivery and great service. As the company grows, expand the product line, negotiate volume discounts with suppliers, invest in technology, customer response time and cut waste from the operations. Then deliver the lower costs to customers in the form of lower prices. 
 
This was Amazon’s model which is still one of the fastest growing companies in India and the world. Although it was founded back in 1994, Amazon didn’t actually make a profit until 2001. Amazon has some profitable projects, but the money made from them is typically used as investments to fund other Amazon businesses and ventures. The company invests its profits in new lines of businesses and uses them to expand. In short, Amazon seems to value growth over profits. 
 
 
 
​ <keyword id="8589" type="PERSON" weightage="20" keywordseo="padmaja">Padmaja</keyword> <keyword id="980938" type="PERSON" weightage="20" keywordseo="Ruparel">Ruparel</keyword>, President, Indian Angel Network doesn’t believe in this model simply because she thinks that Indian consumers are flighty, “There is a constant need to lure the consumer to stick with you which is tricky when you’re not the only player in the market. Your focus here is on how quickly you can grow the market and not on your business strategy.’’ Ruparel believes in investing in a much more stable business model, “We are old-fashioned for sure as our focus is on businesses building a top-line and a bottom-line. We ascertain a business by unit economics and even though the cycle might be slightly longer, B2B start-ups create a sustainable business.” 
 
“The consumer is surely attuned to buying online which was their aim, but only some players will remain in this market. Consolidation is inevitable as loss-making businesses can’t stay afloat for long, but only time will tell who will remain the top dogs here,’’says Padmaja when asked about the future for consumer-centric start-ups. 
 
India’s perspective: “E-commerce companies like Snapdeal and Flipkart are following a similar model to that of Amazon in India. The difference is that Amazon can afford to lose money in India as it is profitable in other markets. The former players are just playing in India where they’re losing money trying to compete with Amazon,” comments Mahesh Murthy. 
 
2. Set up person-to-person exchanges: A house owner in a town has a huge house that has idle rooms that aren’t occupied. The young professionals living in the city need accommodation in different towns to work flexibly but they don’t want to own a house or live in expensive hotels. It seems to be working for <keyword id="719382" type="COMPANY" weightage="20" keywordseo="Airbnb">Airbnb</keyword> which doesn’t own any inventory and millions of people have taken advantage of these services, and Airbnb now has a market value estimated at $30 billion—roughly the same size as the <keyword id="183920" type="CITY" weightage="20" keywordseo="Marriott-International">Marriott International</keyword> hotel chain. 
 
Vikram Gupta, CEO, IvyCap Ventures, “India is not a mature market where you can write off $100 million checks to companies that are spearheaded by college graduates or in some cases, dropouts. The entire ecosystem is disturbed as new companies were getting funding at overhyped valuations. The market has started to finally stabilize and we see investors going back to the revenue as a yardstick for company’s growth instead of the GMV. The businesses are coming back to realistic valuations and while they might have money left in the bank, they are looking to reduce their cash burn rate.” 
 
 
 
India’s perspective: Companies like <keyword id="2808667" type="UNKNOWN" weightage="20" keywordseo="OYO">OYO</keyword> are trying to work with small hotels and guesthouses and have even leased their own properties but the burn-rate is consistent. With simplifying its business model and focusing on one aspect; people sharing their homes with people and minimal revamping, Airbnb has revolutionized how the world sees hotel accommodation forever. 
 
3. On-Demand Model: Smartphones have driven transformational shifts in how we consume goods and services, and many consumers have become acclimated to purchasing at the press of a button. The on-demand model allows a startup to leverage new technology while utilizing existing infrastructures. Another benefit lies in the use of freelance labor with its obvious advantages in cost cutting. 
 
Uber is a great example of the sharing economy where they connect the supply to the demand of taxis without investing in their own fleet. 
 
India’s perspective: <keyword id="6362049" type="UNKNOWN" weightage="20" keywordseo="Ola-Cabs">Ola Cabs</keyword> is Uber’s biggest competitor in India and while both companies burn a lot of money trying to lure customers to get into a taxi, Uber is currently the world’s most valuable startup at $69 billion. 
 
<a href="http://www.businessinsider.in/online-cab-players-in-2016-completed-nearly-half-a-billion-rides-with-250-y-o-y-growth-in-india/articleshow/57273938.cms">ALSO READ: Online cab players in 2016 completed nearly half a billion rides with 250% y-o-y growth in India</a> 
 
Winner Speak 
 V. Krishnan, Co-founder, and Director of <keyword id="1675768" type="UNKNOWN" weightage="20" keywordseo="Justdial-Ltd">JustDial Ltd</keyword> who likes to call his company an ‘18-year old startup’ says that for a successful business you don’t need an extraordinary idea, “The problem with start-ups today is that they don’t focus on profitability. To create a profitable business, you need extraordinary execution, not an idea. Giving money to people to use your services doesn’t make sense. The Indian customers are not loyal to brands, but to offers. Our goal was to create a world-class business and a world-class company.’’ 
 
For the first ten years of JustDial’s existence, the company didn’t raise any funding. The company ran on a shoe-string budget and used its own money to survive. In 2006, when internet penetration and broadband gained traction in India, the company was ready with its fully functional website to complement its telecom services. From 2-3% internet users to now 85% internet users, the company has grown to 200 Cr web searches annually, without any cashback or incentives. The company is probably one of the rarely profitable internet companies in the country today. 
 
<a href="http://www.businessinsider.in/65-of-start-ups-feel-indian-startup-eco-system-may-be-in-a-tech-bubble-report/articleshow/57205211.cms">ALSO READ: 65% of start-ups feel Indian startup eco-system may be in a tech bubble: Report</a> 
 
“The core business of start-ups isn’t ready but there is marketing happening. India is going to be giving you a lot of opportunities. Everyone wants to create a company, raise a great valuation and sell it off to do something bigger; the attitude is wrong," he signs off. 
​ 
Business Insider got in touch with Flipkart, Ola, Snapdeal, and Uber for this story but the companies chose to not comment on the same. 
 
​ 
 
Business Insider’s Take 
 
While popular Indian start-ups struggle to survive without additional funding coming in, we see some internet companies like JustDial and BookMyShow staying afloat, without investor-intervention. 
 
When it comes to businesses and business models, investors and successful companies agree that the tried and tested works; build a business with a strong product that you can alter as technology develops. The business of losing money can only take you so far if you don’t put it to good use. 
 
There’s a difference between investment into a product and burning money, and the start-ups better realize that before they get acquired or relinquished by the players who created the game that they’re set to lose. 
 
The market is big enough for companies that create value for customers not just for start-ups that create customers; the difference is everything. 
 
(Graphics: All figures in INR crores for the financial year 2015- 2016. Source: <a href="http://www.livemint.com/Companies/vtqiTC9VgJgnUfOAH2QdiL/Flipkart-still-Indias-top-startup.html">Mint Research</a>) 
 
**For Oyo, the result is from Apr-Dec 2015. 
*BookMyShow is the only company mentioned that has profits.

BI Investigation: Business models akin to Amazon and
Uber’s aren’t working for Indian startups

One of the biggest <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">Venture Capital</keyword> Firms <keyword id="720079" type="ORGANIZATION" weightage="100" keywordseo="IvyCap-Ventures">IvyCap Ventures</keyword>, through a new wing called <keyword id="3119261" type="UNKNOWN" weightage="100" keywordseo="IvyCamp">IvyCamp</keyword>, is trying to engage with IITs, IIMs, BITs and ISB as well as industry experts at multiple levels to foster a startup ecosystem in India. 
 
It is connecting alumni across educational institutions to build a network of mentors, investors, and experts, but at the same time also making connections to ensure the guidance and money are pouring into the right startups and innovations arising out of the campuses. For this, the company has been going to Indian B-schools for the past few years now, trying to make relationships with incubators here and helping startups or innovations (from colleges as well as outside) find the right match and resources. 
 
So basically, the potential ideas or entrepreneurs are linked to IvyCamp's startups/investors/mentors network or corporations so that innovations from campuses are more visible, they can be commercialized and startups can leap onto the next level. 
 While on a tour to <keyword id="60501" type="COMPANY" weightage="100" keywordseo="IIM-Bangalore">IIM Bangalore</keyword>, we interviewed the Vice President of IvyCamp who is driving this objective in India and globally: 
 
 
 
Here are some more insights from the interview on IvyCamp's work so far: 
 
Holding Events On Campus 
 
Adhiraj Banerjee told Business Insider - "We are doing continuous events at IITs and IIMs and now we are headed to couple of other institutions as well. The idea here is to give the right direction to early stage entrepreneurs who need lot of mentoring in basic areas like how to build your B-plan, how to do your valuation and a sounding board for them." 
 
Setting up incubators 
 
As a part of their objective to help young innovators and entrepreneurs, IvyCamp is conducting education programmes with colleges and also setting up its own incubators. 
 
"Just in the last two weeks, we have signed 14 incubators. We are setting incubators in Uttar Pradesh and Karnataka and the idea is to not restrict the ecosystem to just the campuses. That means we will be doing the exact same things we are doing in colleges outside as well like pitch events, mentor events, education programmes etc," said Adhiraj. 
 
Tie-up with <keyword id="3558756" type="UNKNOWN" weightage="100" keywordseo="nasscom-10k-startups-programme">Nasscom 10k Startups Programme</keyword> 
 
IvyCamp felt the success of IoT startups coming out of India needed a consolidated boost. Adhiraj said – “This tie-up was therefore done to evangelize IoT and to help startups in this space in India get access to manufacturing units, connect with the industry who may use their applications and also connect them to the foreign governments.” 
 
Efforts to bring angel investors onboard 
 
Another way IvyCamp is trying to help startups is by roping in angel investors along with IvyCap Ventures investing in IvyCamp startups. 
“Sometimes we find startups during events or through our outreach programmes which we can be invested in. We have invested in two such startups recently and we are looking to increase that by bringing higher number of investors on the platform.” 
 
It seems like B-school students who wish to become entrepreneurs now have a big reason to smile!

VC Firm IvyCap is going into IITs, IIMs and ISB to fund startups.
Yes, Christmas just came early this year

Some of the biggest names from the startup ecosystem are in the <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Bangalore&amp;sortorder=effectivedate">IIM Bangalore</a> campus today, either giving speeches in the auditoriums or judging competitions and providing mentorships within closed doors to startups and students from across the country, as the ninth edition of their National Annual <keyword id="107737" type="ORGANIZATION" weightage="40" keywordseo="Entrepreneurship">Entrepreneurship</keyword> Summit ‘Eximius’ kickstarts. 
 
The summit themed ‘The Time Is Now’ has names like P Chidambaram, Kunal Kapoor, Devdutt Patnaik among others associated with it, and this extravagant show has been put up by The Entrepreneurship and Innovation Cell in association with the NS Raghavan Centre for Entrepreneurial Learning at <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Bangalore&amp;sortorder=effectivedate">IIMB</a>. 
 One look at the array of events shows that like every year, this year too Eximius USP of holding the event is to get the biggies under one roof and encourage students from across the country with failed start-ups or who aspire to have startups, to be able to meet investors like <keyword id="720079" type="ORGANIZATION" weightage="40" keywordseo="IvyCap-Ventures">IvyCap Ventures</keyword> and Shark Tank during competitions or mentorship sessions. The exchange of ideas will enable these students to be better prepared before they take on the entrepreneurship journey. The competitions will have participants solving a range of problems faced by start-ups and entrepreneurs in marketing, operations, finance, sustainability and fund-raising. Several online and on-the-spot events such as quizzes and simulation games mark the event. 
 
Eximius is featuring at least 150 start-ups and in over 30 events, and Business Insider is in the campus to cover some of the best sessions. Here’s a sneak peek into what is unfolding at the <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Bangalore&amp;sortorder=effectivedate">IIM-B</a> campus: 
 
Speaker List: Eximius 2016 will host eminent speakers including P Chidambaram (former Finance Minister of India); Duvvuri Subbarao (former RBI Governor); Dr Jacob Crasta (Prime Minister's SME Council); Dr P Namperumalsamy (Padma Shree Awardee, Chairman, Aravind Eye Care); Dr <keyword id="160324" type="PERSON" weightage="40" keywordseo="Devdutt-Pattanaik">Devdutt Pattanaik</keyword> (bestselling author); Shradha Sharma (Co-founder YourStory); Sujayath Ali (Co-founder CEO Voonik); Kunal Kapoor (actor and co-founder Ketto.Org); Mukesh Singh (co-founder &amp; CEO Zopnow); Piyush Mishra (actor) and Anshu Gupta (founder Goonj). 
 
Flagship events 
Bzzwings: Bzzwings, the business plan contest, encourages individuals to conceptualise, ideate and take the plunge. Winning teams will get incubation at IIMB’s NSRCEL. Prizes worth Rs. 40 lakh will be given away in this contest. 
 
Fast Forward: Fast Forward is targeted at business ideas built around information technology that can impact millions and start a revolution. It offers exclusive mentorship to selected teams. The winners of Fast Forward will get prizes worth Rs. 2.5 lakh. 
 
The Other Incentive: The event is aimed at promoting and supporting social entrepreneurship. This is for ideas where revenues and bottom-line profits are hygiene factors and social impact is the key measure of success. The event is being organised in association with Villgro, a leading social incubator. Social entrepreneurs could win an incubation opportunity of up to Rs. 65 lakh from Villgro and prizes worth Rs. 80,000. 
 
The Game of Clicks: The event bridges the gap between students and start-ups. In this marketing challenge, teams compete in real-time for digital marketing. It gives students the opportunity to collaborate with start-ups to develop their marketing strategies. Each student team works closely with a start-up to develop and implement its digital marketing strategy over a period of three weeks. The winning teams get a chance to win prizes worth Rs. 50,000. 
 
Wipro Earthian Sustainability Quiz: Governments, organisations and leaders across the world are thinking about sustainability. Eximius 2016 will present the Earthian Sustainability Quiz in association with Wipro, based on sustainability and the environment. Prizes worth Rs. 1.1 lakh are to be won. 
 
Bootcamp Kiosk: Early stage start-ups can showcase their business models and company goals at the Startup Bootcamp. The bootcamp will give start-up founders the chance to demonstrate their vision to a captive student community of future business leaders and entrepreneurs. Additionally, start-up founders will get a chance to imbibe key lessons from industry veterans and investors. 
 
Workshops: This year the bootcamp workshops will be conducted by <a href="http://www.businessinsider.in/searchresult.cms?query=IBM&amp;sortorder=effectivedate">IBM</a>, Greg Maron (co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Zoomcar&amp;sortorder=effectivedate">Zoomcar</a>) and HeadStart Network, India’s leading community for start-ups. The workshops will cover diverse themes such as innovative business models, leveraging start-up ecosystems, start-up marketing, scaling and building an empowered venture. 
 
<a href="https://s3-us-west-2.amazonaws.com/insideiim/wp-content/uploads/2016/03/26020014/IIM-Bangalore.jpg">Image Source</a>

IIM Bangalore unveils 'Eximius' with some of the biggest names from the startup industry

IvyCap Ventures arm <keyword id="3119261" type="UNKNOWN" weightage="100" keywordseo="IvyCamp">Ivycamp</keyword> has tied up with a business incubator of <keyword id="61708" type="COMPANY" weightage="100" keywordseo="IIT-Bombay">IIT Bombay</keyword> -- Society for Innovation and <keyword id="107737" type="ORGANIZATION" weightage="100" keywordseo="Entrepreneurship">Entrepreneurship</keyword> -- for mentorship and funding ventures from the western region. 

	The collaboration will organise joint workshops for over 2,000 start-ups from Mumbai in 2016 and ventures identified under this initiative will also be provided funds from a corpus of Rs 60 crore by IvyCap Ventures, a statement today said. 
 

	It added that IvyCamp will connect industry participants to students and entrepreneurs to provide guidance on formulating and strengthening business models. 
 

	"One of the key activities under this partnership will be to host an annual IIT-IIM Entrepreneurship and Innovation Conclave. The conclave will be held in Mumbai in April 2016," the statement read.

	 
	One of the key activities under this partnership will be to host an annual IIT-IIM Entrepreneurship and Innovation Conclave. The conclave will be held in Mumbai during April 2016 to engage the Community across India's premier Educational Institutions focused on growing innovation and entrepreneurship, to promote Alumni engagement, and to launch new features of the technology based platform. 
 

	IvyCamp is India's first unified technology based platform for innovation and entrepreneurship. Its parent - IvyCap Ventures is raising its second fund of Rs 600 crs. IvyCap has raised and deployed Rs 250 crore in its maiden fund last year. Speaking on the occasion, Dr. Anju Gupta, Co-founder and President of IvyCamp said, "We are happy to partner with SINE as this will not only support entrepreneurs but actually build knowledge networks across student and the global alumni network of IIT Bombay. 
	 
	(Impact credit: BCCL)

IvyCap arm, IIT-B biz incubator in pact for funding ventures

<ul><li><keyword id="3119261" type="PERSON" weightage="20" keywordseo="IvyCamp">Ivycamp</keyword>, the incubation arm of Ivycap ventures, has 5000 IIT/IIM alumni on board and 4000 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword>. </li><li>They are working with corporates to help them find the right startups to work with. </li><li>Ivycamp has worked with the likes of Airbus, Yes Bank, HDFC Bank, Sonata and more.</li></ul>In India, the startup craze was led by the graduates of IITs and IIMs. Investors too got on a call with you easier to speak funding if you were an IIT or IIM alum. Even today, stories of IIT graduates building a new startup are quite common. And this became the premise of IvyCamp, a platform from Ivycap ventures which helps startups connect with investors and corporates, leveraging the IIT, IIM alumni network. Vikram Gupta and Anju Gupta, friends from IIT Delhi, once got talking about the effective alumni networks abroad especially in the Bay Area. They launched IvyCap ventures in 2011 with an aim to be driven by IIT alumni and one of its key investors too was the IIT alumni trust. In 2014, IvyCamp was launched which served as a platform to connect alumni, startup founders and corporates for investments, mentorship and partnership. “A lot of the alumni were approaching us as to how they could be more involved in the Indian startup ecosystem. We wanted to create an engagement platform that could leverage this vast alumni network,” said Gupta. Today, they have 5000 alums on board, 4000 startups and a global mentor and investor network. Two years ago, they started working with corporates. “Airbus approached us to work with them for their accelerator because we had the domain expertise to evaluate startups,” said Gupta. And that became another goldmine of projects, for corporates lined up for more and more accelerator programs and associations. IvyCamp recently partnered with HDFC Life to launch a program called Futurance, to create business opportunities in insurance. Over the years, the perspective of both startups and corporates have changed. Gupta said that startups have evolved and are no longer restricting their interests with investors and VC funds. They are now more eager to work with corporates to get the brand name, domain expertise and access to customers. On the other side, corporates too face many problems. “They have an R&amp;D arm but it doesn’t work as fast as the startup. They are realising that there is no readymade fixed solutions to the challenges and they will have to work with startups to get tailormade solutions,” said Gupta.

This IIT and IIM alumni-backed fund is now pushing corporates to invest in and mentor Indian startups

<ul><li><keyword id="255703" type="General" weightage="100" keywordseo="bluestone" source="Orion">BlueStone</keyword> is looking forward to opening its third manufacturing unit in <keyword id="6354779" type="General" weightage="80" keywordseo="jaipur" source="Orion">Jaipur</keyword> and will be looking forward to hiring 400 employees over the next 3-4 months.</li><li>The <keyword id="727556" type="General" weightage="20" keywordseo="jewellery-retailer" source="Orion">jewellery retailer</keyword> is rapidly scaling operations across the country with new warehouses and stores coming up in many cities.</li><li>Till date, the company has raised $70.1 million in external funding.</li></ul>BlueStone, a Bengaluru-based <keyword id="13123234" type="General" weightage="20" keywordseo="online-jewellery-platform" source="Orion">online jewellery platform</keyword>, is planning to open its third manufacturing unit in Jaipur and will be looking forward to hiring 400 employees over the next 3-4 months. As part of the expansion plan, the jewellery retailer will be hiring across various domains like production, warehouse, logistics and design functions for their <keyword id="3386928" type="General" weightage="20" keywordseo="new-manufacturing-unit" source="Orion">new manufacturing unit</keyword> in Jaipur. The existing two other manufacturing units of the company are located in Mumbai with a total work area of 12,000 square feet (sq. ft) and with an employee count of around 500. BlueStone is rapidly scaling operations across the country with new warehouses and stores coming up in many cities, catering to the growing demand. The new manufacturing unit will help the brand meet the rising demand for its products. “With the launch of our new manufacturing unit in Jaipur, we have expanded our production capacity three-fold, which is required to meet the scale at which we operate at present, having opened 68 new stores over the last 2 years and with plans to open more in the months ahead,” said Gaurav Singh Kushwaha, founder and chief executive officer (CEO) of BlueStone.com. Kushwaha further said, “We intend to double the size and capacity of the new manufacturing unit in about a year from now with the premise having an additional 20,000 sq ft of space that could be utilised. Our customers will stand to benefit from reduced production timelines and good air connectivity from Jaipur, resulting in quicker deliveries.” In 2020, the jewellery retailer raised a series E round funding of ₹14.73 crore from its existing investors Accel, IIFL Seed Ventures Fund, Kalaari Capital, Iron Pillar Fund, Ivycap Ventures and Saama Capital. Till date the company has raised $70.1 million in external funding. Founded by Vidya Nataraj and Kushwaha in 2011, BlueStone claims to ship in-house designed jewellery across 25,000 pin codes in the country and internationally to the US, Canada, UK and Australia. It also has 65 physical stores in over 22 cities, including Bengaluru, Chennai, Mumbai, Hyderabad and New Delhi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/meet-santishree-dhulipudi-pandit-the-first-female-vice-chancellor-of-jawaharlal-nehru-university/slidelist/89409341.cms">Meet Santishree Dhulipudi Pandit, the first female vice-chancellor of Jawaharlal Nehru University</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/sundar-pichai-pegs-googles-web3-ambitions-to-the-cloud/articleshow/89409184.cms">Sundar Pichai pegs Google’s Web3 ambitions to the cloud</a>

Online jewellery platform BlueStone to hire 400 people in the next 3-4 months

Bengaluru- and California-based tech firm <keyword id="3125256" type="General" weightage="20" keywordseo="bidgely" source="Orion">Bidgely</keyword> on Thursday said it has raised $26 million (about ₹190.8 crore) in funding led by Moore Strategic Ventures. The round also saw participation from Accurant International as well as existing investors like Future Energy Ventures, Georgian and Constellation Technology Ventures, a statement said. The SaaS (Software-as-a-service) startup had raised ₹15 crore from IvyCap Ventures in March this year. The US-headquartered company has raised a total of $77 million in funding to date. The company offers artificial intelligence (AI)-based solutions to electricity distribution companies to enable them to serve their customers better as well as modernise their grid operations. "As India's extensive smart meter penetration continues, this new investment enables Bidgely to provide tailored solutions that support the country's biggest utility needs: electricity theft prevention, grid stability and electric vehicle (EV) accommodation," the statement said. Working with a leading private Indian electricity distribution company (Discom), Bidgely has demonstrated the acute ability to detect non-technical losses through disaggregated smart meter data, it added. It, however, did not disclose the name of the customer. Bidgely is targeting multiple use cases, including AI-based short-term load forecasting, analytics-based customer indexing and asset predictive maintenance to solve multiple challenges for Discoms, the statement said. "Bidgely's Silicon Valley roots and strong engineering arm in India play not only to our strength of providing AI technology to established markets like North America and Europe but also to our ability to address key issues in emerging markets," Bidgely CEO Abhay Gupta said. He added that India's energy landscape, specifically, is evolving rapidly, and the company's work around theft detection and grid stabilisation goes to the heart of problems that cost the utility industry billions of dollars a year. Bidgely pioneered load disaggregation, holds 17 patents for its technology and partners with nearly 40 global utilities and energy retailers to glean valuable customer energy insights, using data from smart meters already installed in the home. It processes more than two billion energy data points a day. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/stock-market/news/telecom-auto-tata-group-and-other-top-stocks-to-watch-out-for-on-september-16/articleshow/86250470.cms">Airtel, Vodafone Idea, Tata group and other top stocks to watch out for on September 16</a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">Indian government dials M for moratorium – Airtel, Vodafone Idea get a four-year relief on AGR dues</a>

Investors' interest in Indian SaaS continues as Bidgely bags $26 million from US-based firms

Mumbai, Jan 13 () Global investor Goldman Sachs-backed online beauty and personal care platform Purplle.com on Monday said it has raised USD 8 million (around Rs 56 crore) from Belgium-based investment firm Verlinvest in series-C funding round.
 This new fundraising follows the USD 30 million capital infused by few investors including the US-based Goldman Sachs, IvyCap Ventures, Blume Ventures and JSW Ventures in December 2019.
 "The funding from Verlinvest will be utilised to further strengthen Purplle's supply chain, innovation and technology capabilities as well as for brand building," Purplle.com said in a statement.
 Verlinvest has over 1.6 billion euro of assets under management and its Indian portfolio includes brands such as BYJU'S, Sula Wines, Epigamia, Veeba Foods and Future Consumer.
 "This investment aligns with our intent of creating a sustainable multi-decade enterprise," Purplle.com co-founder and CEO Manish Taneja said.
 Launched in 2012, the company had raised USD 10 million over the past six years.
 Verlinvest India Head of Investments Arjun Anand said, "We believe consumer preferences are changing rapidly with online penetration in this space and Purplle has great momentum to delight Indian consumers."
 IndigoEdge acted as the exclusive financial advisor to Purplle.com in the fund raise, the release said. PSK HRS

Online personal care platform Purplle.com raises USD 8 million in funding

<ul><li><keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> India recently concluded the second cohort of it's Artificial intelligence accelerator program. </li><li>The three <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> are <keyword id="3269198" type="PERSON" weightage="20" keywordseo="FTCash">ftcash</keyword>, <keyword id="8356701" type="UNKNOWN" weightage="20" keywordseo="marut-drones">Marut Drones</keyword> and <keyword id="3634797" type="PERSON" weightage="20" keywordseo="innerhour">Innerhour</keyword>. </li><li>They will now receive a month-long mentorship from Facebook on go to market strategies. </li></ul>Facebook India recently concluded the second round of it's Artificial intelligence accelerator program. The program which was in partnership with Telangana government's <keyword id="6354480" type="UNKNOWN" weightage="20" keywordseo="t-hub">T-Hub</keyword> saw three finalists who will further receive mentorship from Facebook on go-to-market strategies. The three startups are ftcash, Marut Drones and Innerhour – who will receive “further support for a month of Go-to-Market strategies to increase funnel conversion rates, picking up the sales model, taking product to the entire market, and building company,” said Facebook. “We are thrilled to play a key role in India’s start-up ecosystem, being a catalyst for future growth, using the potential of emerging technologies like AI, to solve the major problems India is facing today,” said Manish Chopra, director and head of partnerships at Facebook India. ftcash ftcash is a financial services company which helps micro-merchants and small businesses with digital payments and loans. The startup was founded in 2015 by Vaibhav Lodha. In May 2019, the startup had raised series A funding of ₹50 crores from global non-profit Accion, Dutch development bank FMO and IvyCap Ventures. But the startup is not new to awards and accomplishments. ftcash was also awarded by Prince William and Kate Middleton as a winner at the UK Trade and Investment – Great Tech Initiative. Marut Drones The Hyderabad-based startup is working on a ground level problem. With its AI powered computer vision, the startup identifies mosquito infestation and hyacinth growth in urban ponds. Using drones, it then sprays repellents in the infected areas. It also recently partnered with Hyderabad’s municipal corporation. The startup founded by Prem Kumar Vislawath in 2019, had earlier received an award from Nasscom – the emerging Technology Award for Drones and AI for Mosquito eradication and disease prediction for malaria and dengue. Innerhour Innerhour has an emotional health app, where with its psychological tools and services it helps in fighting the stigma and lack of access of qualified professionals in the mental health space. It was founded by psychiatrists Dr Amit Malik and Dr Shefali Batra. It had raised ₹3 crore in 2017.

Facebook India to mentor makers of mosquito-killing drone, emotion health app and a digi financer

Losses of top three Indian e-commerce players, <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=amazon+india&amp;sortorder=effectivedate">Amazon</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a> are rising like never before and this due to intense competition. 
 
The combined losses of the three<a href="http://www.businessinsider.in/searchresult.cms?query=indian+ecommerce&amp;sortorder=effectivedate"> e-commerce</a> companies stand at whopping Rs 11,754 crore and believe it or not, this is nearly equal to the annual budget of the <a href="http://www.businessinsider.in/searchresult.cms?query=ISRO&amp;sortorder=effectivedate">Indian Space Research Organisation</a> (ISRO). 
 
With this much money, ISRO can send 24 Missions to Mars. 
 In 2015-16, losses increased due to expansion and competition. The companies also spent money on advertising, discounts, seasonal sales, etc. For 2015-16, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> posted losses of Rs 2,960 crore, <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> Rs 5,223 crore and <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> Rs 3,571 crore. 
 
"Only two sets of people are winning this e-commerce battle. First are the delivery companies and the second, digital marketing companies like Google and Facebook. As the saying goes, in the gold rush the only people who make money are the pickaxe sellers," a founder and an expert commentator of a leading consultancy told ET on the condition of anonymity. 
 
Now, the game has changed and there is focus on getting more customers on board. The biggest tool of customer acquisition/retention is advertising and despite mounting losses, the advertising budget of the ecommerce players is only ballooning. In November, Snapdeal announced an overhauling exercise and committed close to Rs 200 crore for the same. Amazon India increased its ad budget to Rs 946 crore in 2016 from Rs 766 crore in 2015. 
 
"There is no place for five to six companies with the same model to exist in India. They are all slugging it out by giving greater discounts, which is only resulting in making bigger losses for them. Amazon has got deep pockets and Indian companies like Flipkart and Snapdeal need to depend on other strategies to fight it," Mohandas Pai, Chairman, Manipal Global Education Services and Aarin Capita, told ET. 
 
The colossal loss figure may take us back to the debate of e-commerce bubble. 
 
"India is probably the only market in the world where we are seeing so many players. Most of the other markets have just one player. But, eventually, it could come down to two players - Amazon and one more. Funding becomes crucial here. Amazon does not have to go from boardroom to boardroom with PowerPoint presentations when they are running out of money, whereas a player like Flipkart will have to keep convincing investors. So that is one major advantage that Amazon has. And that has been the primary reason they have not been distracted by valuations and mark downs, etc. In my view, that has been a major distraction for Flipkart," Vikram Gupta, founder and managing partner, IvyCap Ventures, told ET. 
 
As per experts, the three players should give push to retain and get more customers on board as well as venture in new product categories. 
 
"Unless you reach a particular point in a particular product category where people come to you mostly without going elsewhere, there is always a risk that customers could shift to another source, say if they get small discounts elsewhere. If Flipkart wants to be profitable over the next, say two years, all they have to do is to decide what products they need to stop investing too much on. Their revenues will probably come down for some time, but they could hit profits as well - that is if this is what they decide to do. Those profits at least will then give you a clear picture of what kind of value they can create from there," asserts Gupta.

You Searched For "ivycap ventures" and got 11 results

IIM-L scores 100% placement

IANS

BI Investigation: Business models akin to Amazon and Uber’s aren’t working for Indian startups

Tanya Dubey

VC Firm IvyCap is going into IITs, IIMs and ISB to fund startups. Yes, Christmas just came early this year

Anushree Singh

IIM Bangalore unveils 'Eximius' with some of the biggest names from the startup industry

Anushree Singh

IvyCap arm, IIT-B biz incubator in pact for funding ventures

BI India Bureau

This IIT and IIM alumni-backed fund is now pushing corporates to invest in and mentor Indian startups

Sanchita Dash

Online jewellery platform BlueStone to hire 400 people in the next 3-4 months

Vaamanaa Sethi

Investors' interest in Indian SaaS continues as Bidgely bags $26 million from US-based firms

PTI

Online personal care platform Purplle.com raises USD 8 million in funding

PTI

Facebook India to mentor makers of mosquito-killing drone, emotion health app and a digi financer

Sanchita Dash

Combined losses of Flipkart, Amazon and Snapdeal stand at Rs 11, 754 crore; it is the annual budget of Indian space agency

BI India Bureau

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