Memories for me by Payioo

#Payioo came into beta testing phase when university semester exams were going on but the dedication for the launch of this app was there.

I still remember that when Mr. Paritosh Vatsal Tripathi (#Paritosh sir) texted me up and said that the app would be soon out for beta  testing and we as the members of E-Cell NIET are the members of testing team for #Payioo and the very next day when I was leaving for my exam and he said come after that transactions are happening. After I was back I went to Incubator there I found Mr. Hitesh Goel (#Hitesh sir) who showed me how the transactions are happening.

After two days of all this. I got a call from Paritosh sir asking me to come to canteen and test the app and the app showing awesome behavior also on “Aircel 2g” is truly commendable by the developer team. The transactions happening in only 36 seconds including the receiving of OTP and the transaction authentication.

On a very serious note I would like to say that the time I spent there was simply awesome. Seeing sir talk to people promoting #Payioo and asking students to go Digital whereas I was testing the layout of the app, finding the glitch,processing errors etc. standing there with sir for hours. The night when Aman, “Abhishek and company”were all there and we talked about the memories of the college hostel are truly cherishable.

Getting a mail from Paritosh sir at 4am about all the errors are fixed and still I could find a small error was the time, and testing the app on NIL balance and still I was  able to find some bugs there in it. It just feels awesome to be there working with the team, knowing your capabilities, your opinions being considered and getting complemented for your work.

A heartfelt thanks to the team for doing such a great work.

 

 

Startups dish out multi- crore salaries with the tools of TALENT !

Hii readers ! here we meet again. Today we are going to talk about the human talent that has turned the startups other way round . A few startups which are hardly few  year old are playing in crores nowdays and the reason is the extra vigilant and smart minds acting behind it.

A crunch of leadership talent is pushing salaries in the startup space skyhigh, with headhunters and companies talking in terms of multi-crore packages that include a major portion in stocks.

“Salaries for top talent at startups have doubled and in some cases even trebled in the last 18 months,” said Sunit Mehra, founder and managing partner, Hunt Partners. Most of these salaries that have gone up from Rs 70 lakh to Rs 1.5 crore to Rs 2-4 crore were pushed up by the cash component alone, he said.
In one such recent appointment, InMobi in August hired an executive in a director-level position from a leading American technology multinational. Other examples include Snapdeal picking up the head of technology from a California-based computer software company, Paytm hiring a former Amazon India executive to head one of its business units and Flipkart hiring from a leading US-based technology major for a leadership position.

 

Policybazaar.com, which has been around for over half-a-dozen years, has recently started dishing out ESOPs to critical talent. Group chief marketing officer Naveen Kukreja, who is also the managing director of Paisabazaar.com, said: “This is a retention tool as the war for key talent is getting fiercer by the day. We have recently started using ESOPs as a retention tool.”
BlueStone, an online jewellery retailer, recently started offering multi-crore salaries to attract and retain talent at leadership roles. “Till about a year or so, we were not paying a multi-crore salary to anyone in the company. But now, we are paying multiple people salaries of this amount,” said CEO and founder Gaurav Singh Kushwaha. “This is in addition to the ESOPs. It’s for the key positions at leadership levels. We are ready to pay whatever it takes to acquire talent.”

-: “The importance of money flows from it being a link between the present and the future ” , J M Keynes.

Why This Is The Best Time Ever To Be An Entrepreneur In India

Prime Minister Narendra Modi in his last ‘Mann Ki Baat’ radio programme in December 2015 has promised to unveil the action plan for ‘Startup India, Standup India!’ on January 16. This could be a reason to cheer for the Indian startup community. We have a promise of difficulties coming to an end when it comes to starting up. In a comparison of per capita GDP, with $7,594 China’s per capita GDP is almost 5 times that of India, which stands at $1,596. However, all that is set to change as the government opens up and adapts to new startup-friendly policies.

We bring you some of the reasons why we believe this would be the right time to start up in India.

1. This year, the total funding in India is about $ 9 Billion, which is more than the GDP of Andaman and Nicobar, Sikkim, Arunachal Pradesh, Mizoram and Manipur combined.
2. India has the ninth largest GDP in the world, with around $2.07 trillion. With over 70 per cent of the population still living in villages, a huge portion of our GDP comes from Tier I and II cities, which means we still have huge potential to be tapped in villages.
3. Indian rail is the largest public sector enterprise in the country. It is also the eighth biggest employer in the world, with over 1.4 people. Inefficient reservations, streamlining the process, catering are still some of the problems which can be looked at as opportunities and can warrant startups of a different scale.
4. Seventeen finance companies received funding in 2015, of over $290 million, making this one of the most funded sectors of last year and also one showing great promise. With relaxed RBI guidelines in relation to payments banks, this is a new avenue for startups to innovate.
5. Rural India is a huge market for startups, and the only way to tap this market is to go local. Going into vernacular languages is one of the best ways to capture this market. Presenting the same solutions, be it hyperlocal or e-commerce or even payments, in a different packaging around local languages will help people in Tier-III and rural areas adopt it. Indian entrepreneurs are at a distinct advantage in comparison to foreign players entering the space and trying the same solutions.
6. According to the World Bank’s Doing Business report, India was ranked 120 in 2008 and has slowed to 132 in 2014. The ranking has improved to 130 in 2016 and is poised to improve further considering a startup-friendly government.
7. In the recent times, many States have come up with startup initiatives, with Karnataka being the first to come up with a startup policy, followed by Andhra Pradesh and Rajasthan. Kerala decided to invest one per cent of its budget for entrepreneurship. West Bengal government has tied up with IIM Calcutta to send training officials to different districts to assist entrepreneurs.
8. According to the World Startup Gnome Project 2015, Bengaluru is the fifth best city in the world to start up. 2015 marked the entry of Flipkart founders Sachin Bansal and Binny Bansal into the Forbes list of billionairs. This year is on the way to making more billionaires in the ecosystem.
9. Due to the vague and varying definitions of the word ‘startup’, it is quite difficult to perfectly mark the contribution of our startups towards the GDP of the country. However, there are chances that with the launch of the national startup policy, we would be able to precisely measure the contribution of startups towards the economy.
10. With greater support from the government, we are going to see more of such startup acquisitions from India, which will further strengthen our technological prowess. Last year also bolstered the attention of traditional businessmen and investors towards the ecosystem, leading to big names like Ratan Tata and TV Mohandas Pai investing in startups.

The Entrepreneurial Booster-Startup India 2016

The Prime Minister of India Mr. Narendra Modi has undoubtedly the best ever anti-dismantling mettle. India’s economy has started hooking into peak and the relationship management skill our Prime Minister is worth whole China’s population applauds.

In hi “Mann Ki Baat” session he has clearly pointed out to put a stupendous Startup Action plan 2016 for India. Surely this is going to be a fathom booster of Entrepreneurial Ecosystem in India. Our country has monitored a 110% increase in the number of startups and had hit a Bull’s eye in the entrepreneurial context. Youngest and brightest minds of India have taken up pledge to solve the India’s real pain points accompanied by several Middle aged group people.