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Meet AI & Partners, Startups of the Year 2024 Nominee

AI & Partners has been nominated in HackerNoon's annual Startups of The Year awards in London, United Kingdom.
AI & Partners specializes in guiding companies through compliance with tailored solutions that fit their needs, focusing on AI governance and accountability.
Key milestones of AI & Partners include securing partnerships with IBM, SAP, and Salesforce, launching the EU AI Act Impact Assessment service, and expanding their client base across multiple sectors.
AI & Partners aims to gain visibility, connect with potential clients, and strengthen their presence in the AI regulatory space through participation in Startups of The Year.

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AllTopStartups

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Navigating the PMP Exam: Tips for Canadian Students

The PMP exam in Canada can be challenging, but with the right strategies, you can succeed.
Understanding the exam format and creating a study plan are crucial for success.
Utilize high-quality resources like PMP courses and online platforms for structured learning.
Practice with sample questions, join study groups, and focus on the PMBOK Guide for better preparation.

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Economic Times

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B2B ecommerce firm ElasticRun narrows losses by 42% in FY24; revenue drops 49%

ElasticRun, a business-to-business (B2B) ecommerce platform, decreased its net losses by 42% to Rs 359.6 crore in FY24, down from Rs 619 crore the previous year, as its revenue scale declined.
The revenue from operations declined by 48.6% to Rs 2,434.8 crore in FY24, compared to Rs 4,738.02 crore in FY23.
CEO Sandeep Deshmukh said that ElasticRun shifted its strategy to focus on high-margin local and regional brands in FY24, which drove improved profitability metrics.
ElasticRun’s high-margin portfolio now comprises over 90% of its sales, with this group achieving nearly three times the take rate compared to the previous year's assortment.
The company's total expenses also fell to Rs 2,904.3 crore in FY24 from Rs 5,452.7 crore in FY23.
ElasticRun is expanding into quick commerce by building its own multitenant quick commerce network. The network will enable direct-to-consumer (D2C) and other commerce players to offer rapid delivery options.
The platform operates approximately 800 dark stores across India, which support its B2B operations as well as last-mile deliveries, with the flexibility to be repurposed for the quick commerce needs of D2C brands.
Besides its core business, the company has launched its software-as-a-service (SaaS) platform to enable ecommerce and D2C brands to manage order origination and delivery.
ElasticRun last raised $330 million in funding, led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management, with participation from Chimera, InnoVen Capital, and Prosus Ventures.
The move toward profitability and support for regional brands comes as the B2B ecommerce sector in India experiences a shift amid the quick commerce wave.

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Yourstory

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Flipkart Internet reports nearly 21% rise in FY24 revenue, cuts down losses

Flipkart Internet reports nearly 21% rise in FY24 revenue.
Net loss for FY24 decreases by 41% to Rs 2,358 crore.
Expenses rise to Rs 20,627.4 crore due to various factors.
Flipkart India Ltd reports a 26.4% rise in revenue for FY24.

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ISN

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Flipkart’s marketplace business revenue grows 21% to Rs 17,907 crore in FY24, Is it profitable now?

Flipkart's marketplace business revenue grew by 21% to Rs 17,907 crore in FY24.
The company managed to reduce its losses by 41%, from Rs 4,028 crore to Rs 2,358 crore.
Flipkart's advertising revenue surged to nearly Rs 5,000 crore, indicating the success of its ad business.
To meet the demand for quick deliveries, Flipkart introduced the 'Flipkart Minutes' quick commerce service.

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Hackernoon

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Meet CherryOnTech, Startups of the Year 2024 Nominee

CherryOnTech has been nominated in HackerNoon's annual Startups of The Year awards in Vancouver, Canada.
CherryOnTech is transforming professional development through tech squads, where underrepresented genders gain hands-on experience in tech fields.
Key signs of CherryOnTech's success include growing participation, high retention and referrals, and positive feedback from participants.
CherryOnTech has achieved milestones such as forming tech squads, welcoming participants, mentors, guest speakers, and completing live projects.

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Hackernoon

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How I Saved $10,000 on Product Research with an AI Megaprompt

An AI-powered megaprompt helped change the way the author approached research for a product, providing insights into the customers' needs and areas for improvement.
The use of megaprompt can help startups, product managers and marketers to save time and money by analysing consumer behaviour and suggesting ways to enhance communication.
The AI-powered megaprompt delivers customer segments, 'Jobs to Be Done,' triggers and motivations, product ideas, and communication strategy to improve the product.
The megaprompt helped the author save $10,000 in research and find solutions by cutting research time by 80%, with quick answers through Claude utility.
The interview process and discovery analysis segment looks for the situations, emotional and psychological drivers, experience mapping, and the critical trigger moments to seek solutions.
The next phase is the research synthesis that focuses on identifying the jobs-to-be-done (JTBD) and emotional and social jobs to segment the customers based on their JTBDs, trigger moments, and challenges.
The third phase is product development, where practical product recommendations and communication strategies get developed to solve the primary JTBD for each segment, supporting secondary needs, and identify the potential obstacles and strategies to overcome them.
The final phase, validation, competitive landscape, and next steps, help ensure the findings are robust and competitive edge and suggest practical steps for implementation and product evolution.
Speed is essential in today's market, and the AI megaprompt is a useful research tool for anyone who needs to understand their customers quickly and efficiently.
Approximate rate for the saving is mentioned to be 10,000$.

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ISN

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Fintech unicorn Slice completes merger with North East small finance bank

Fintech unicorn Slice has completed its merger with North East Small Finance Bank (NESFB), following clearance from the National Company Law Tribunal (NCLT).
The merger allows Slice to integrate its digital financial services with NESFB's banking operations, providing an expanded range of financial products.
The combined entity will focus on enhancing financial inclusion in Northeast India, where NESFB has an established presence.
Slice aims to leverage the merger to strengthen its financial position, improve risk management, and set high standards in digital banking.

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Hackernoon

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Meet DevStacks, Startups of the Year 2024 Nominee

DevStacks has been nominated for the Startups of the Year award, providing a self-configuring, full-fledged development environment.
It offers standard tooling such as IDEs, terminals, and file managers, and its unique cloud-based desktop interface allows users to multitask, collaborate efficiently from any device.
DevStacks was created by a two-person team focused on building groundbreaking cloud management tech before realizing it could help solve a problem that unprivileged people have in accessing a proper computer.
DevStacks achieved its product-market fit through direct communication with the target audience and ongoing validation.
DevStack’s original vision was to create a cloud-based software development platform that would function seamlessly on any device, from desktop to mobile.
The project’s current priorities are informed by the experiences and challenges of our prospect users, and future feedback from users will likely play a crucial role in shaping future updates.
DevStacks milestones include began startup incubation, a first public demo to over 70,000 people, and developing the MVP of the tech in just over two years.
The creators of DevStacks learned the benefits of working with start-ups include learning to navigate the most common pitfalls and pushing out updates more frequently.
DevStacks is more than just a tool, it is a solution to a widespread problem that many aspiring developers face.
Their hope is that many others will recognize the potential of DevStacks, enabling anyone, anywhere to become a Software Developer.

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Hackernoon

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Startups of The Year: Meet the Web3 Industry

The Startups of The Year 2024 highlights outstanding companies across 100 industries, covering the Web3 category including Blockchain, DeFi and Decentralization.
Web3 is focused on creating a decentralized, user-centric internet powered by blockchain technology.
Startups within the Web3 industry are tackling long-standing social issues like inequality, censorship, and data privacy.
HackerNoon provides comprehensive coverage of the Web3 industry, including Blockchain, Cryptocurrency, DApps, DeFi, and more.
HackerNoon also offers the ability to use NFTs as your profile picture so you can be the Web3 you that you always wanted to be!
The Web3 industry includes various verticals, such as Decentralized Finance (DeFi), community-driven governance through decentralized autonomous organizations (DAOs), smart contracts, tokenization, and interoperability.
HackerNoon allows you to connect your Web3 wallet to your HackerNoon account and also mint your namespace to carve out a personal .hackernoon DID just for you.
The winners of Startups of The Year will get a free interview on HackerNoon and an Evergreen Tech Company News page.
Nominate and vote for your favorite Web3 companies on the provided link.
HackerNoon's Startups of The Year is a branding opportunity unlike any other. HackerNoon has curated startup-friendly packages to solve your marketing challenges.

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Inc42

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ideaForge Slips Into The Red, Posts INR 13.7 Cr Loss In Q2

Drone manufacturer ideaForge reported a net loss of INR 13.7 Cr in Q2, compared to a net profit of INR 89.20 Lakh in the same period last year.
Operating revenue increased by about 56.52% to INR 37.1 Cr in Q2, but declined about 57% from the previous quarter.
ideaForge also reported an EBITDA loss of INR 10 Cr in Q2 FY25, compared to an EBITDA of INR 7 Cr in the previous year.
Despite the loss, ideaForge CEO remains optimistic, citing the company's initiatives including new patents and paid PoCs for Drone-as-a-Service (DaaS) for enterprise customers.

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ISN

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B2B unicorn Udaan raises Rs 300 crore debt funding from leading investors

B2B e-commerce platform Udaan has raised approximately Rs 300 crore in debt funding from investors including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital.
The funding will help Udaan consolidate its market presence and execute strategic growth initiatives.
Udaan plans to expand its market reach through a Micro-Market strategy, targeting smaller regional markets to grow its network of small and medium-sized businesses (SMBs) across India.
The funding will also support Udaan's efforts to optimize operations, improve delivery, and enhance profitability, with reported progress towards achieving sustainable growth.

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Medium

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Quitting to Start

The author always loved starting and building new things from scratch, and coming from a background of not having much, she had to be resourceful and figure things out on her own.
After leaving her software development agency, she went on to help at her family's car dealership and quickly learned and loved the business.
However, even though the job paid well, she was working 24/7/365 for someone else and it took a toll on her. She yearned to put that same level of attention into her own business, Sideline Design.
Without a solid plan, the author knew she needed to leave eventually but had a fire inside her to do her own thing.
When she finally quit and was told she would never make as much money as she did there and that this was as good as it would get for her, it only fueled her even more.
The author is now pursuing her passion for entrepreneurship and encourages others to do the same.

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Medium

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“Success in business starts with a single step. Take it! ‍♂️”

Taking the first step towards business success is the commitment to change and embrace new opportunities that bring you closer to your goals.
Successful entrepreneurs took small actions that led to massive success in the future.
Common fears that entrepreneurs come across while initiating new businesses include the fear of failure, rejection, and the unknown.
To overcome these fears, entrepreneurs can strategize by beginning small, visualizing success, and finding accountability partners.
Choosing the right first step by starting with your strengths, setting micro-goals, and aligning it with your long-term vision is critical.
After taking the first step, developing a robust business plan, adapting to change, and avoiding overextending efforts are crucial for continued success.
Setting long-term goals, building a support network, continuous learning and growth, and embracing experimentation and innovation can lead to the path of success.
The article explores inspiring real-life stories of successful entrepreneurs like Jeff Bezos, Sara Blakely, and Elon Musk who took small actions that led to monumental success.
Success in business requires taking a single, often simple step towards change, with a clear vision, goal, and plan.
Each step forward brings one closer to their goals, and entrepreneurs must embrace risk, adapt to change, and strive for continued learning and innovation.

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Medium

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