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Medium
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Medium as a Platform for Writers:
- Medium is a platform that provides writers a space to share their thoughts, stories, and information.
- One of Medium's standout features is its user-friendly interface, making the writing process easy for both seasoned writers and beginners.
- The platform handles everything from hosting to article layout, eliminating the need for a separate blog or website.
- Medium provides writers with a wide reach and potential audience, making it a go-to platform for those seeking creative expression and visibility.
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Yourstory
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Biotech sector in India valued at $150B, says BIRAC MD
- India's biotechnology sector is valued at $150 billion, according to BIRAC MD, Dr Jitendra Kumar.
- India has significant untapped potential in innovation and product development in the biotech sector.
- BIRAC is promoting academic conversion into enterprise and nurturing startups to bridge the gap in innovative products.
- India lags behind in research and development spending, investing only 0.8% of its GDP compared to countries like the US and China.
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Medium
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The Software Sidequest #1 — Getting serious and carving out time
- The author set a goal to work on their projects every morning before going to work.
- This routine has helped them consistently invest time into their projects during the week.
- They have worked approximately 10 to 15 hours on their projects over the last two weeks.
- The author has made progress on their darts tracking app called 'Dartenbank' during this time.
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Inc42
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The Link Between Intelligent Shipping Automation & Profitability
- For businesses to access scalability and unlock profitability, AI and ML-driven solutions are the future for competitive optimisation
- Hopscotch relied on Clickpost to incorporate an optimised automated carrier allocation module into their B2C operations to reduce shipping costs while ensuring the delivery experience they are renowned for, remained unscathed
- With over 17,000 companies fighting for dominance in the fashion & apparel sector, newer brands are often willing to let profits bleed in their quest to conquer the market and challenge established players
- Returns from a lapse of expected delivery dates and sub-par carrier allocation translate to expensive logistics that can cause high shipping costs
- Hopscotch has partnered with ClickPost for intelligent data-science-based expected delivery date prediction. This innovative functionality pairs business goals with real-time carrier data capture and selection. The date derived from this process is broken down by delivery location and chosen carrier and is -90% accurate
- Logistics remains the heart of any business, and many organisations still use Excel spreadsheets and multiple courier websites to create and track their shipments. The resulting inefficient allocation, non-delivery reports and return-to-origin translate to negative customer feedback
- To evaluate the maximum possible reduction in shipping costs while ensuring other key performance areas improved remained constant, ClickPost established algorithms and weightages based on the brand’s priorities and strategy
- The best possible combination yielded a reduction in non-delivery and return-to-origin rates while saving on shipping costs
- AI and ML-driven solutions are capable of arriving at a logical, unbiased result and automation is an added bonus that can help brands reshuffle employees to customer-facing and product-centric teams
- The future is now, and it is time to embrace tech-powered workflows to improve brand perception in the market and help businesses scale quicker while saving costs
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Yourstory
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Jobs, sports, parenting: test your business creativity with Edition 158 of our weekly quiz!
- Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills
- In this 158th edition of the quiz, real-life entrepreneurs' challenges are presented for participants to suggest solutions
- Challenges include addressing the gap between university curriculum and industry expectations, tackling complex processes for healthcare professionals, solving challenges in finding sports facilities, identifying entrepreneurial opportunities in twin parenting, and transforming storytelling about rural development
- Real-life entrepreneurs have provided their solutions, such as providing practical knowledge through online learning platforms, guiding healthcare professionals towards their desired career paths, creating a sports tech platform for easy access to sports facilities, creating a community for twin parents and offering related products, and empowering women in rural areas through mobile journalism and digital literacy
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Inc42
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How BBPS Is Revolutionising Indian Fintech Infrastructure
- The Reserve Bank of India (RBI) has mandated that all credit card bill payments be routed through BBPS, positioning it at the forefront of India’s digital payment landscape.
- BBPS is a comprehensive platform that centralises bill payments for various services, offering a single interoperable system for customers to manage everything from electricity to water bills.
- In addition, BBPS is a fast-emerging tool in the loan repayment sector, offering convenience to those who prefer to handle their payments manually.
- BBPS exemplifies the transformative potential of a well-structured fintech infrastructure, serving as a model for other Fintech initiatives.
- TSPs play an instrumental role in ensuring the seamless operation and success of BBPS, providing the necessary infrastructure and technical expertise to facilitate secure and scalable transactions.
- One of the immediate challenges of BBPS is potential disruption for current users.
- The Union Budget 2024 highlights the Indian government’s commitment to strengthening the fintech infrastructure.
- BBPS shows how important robust systems are for improving digital payments, making payments smoother and safer for users.
- The global fintech sector is expected to grow nearly three times faster than traditional banking from 2023 to 2028.
- India’s digital payments sector grew at a CAGR of about 50% from 2015–16 to 2019–20, reflecting the rapid adoption and innovation in this space.
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Yourstory
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Professional-grade algorithms empower retail investors, marking the next frontier in India's investing landscape
- Algorithms are becoming increasingly important in the retail investment landscape in India, empowering individual investors with professional-grade tools.
- Algorithms are sets of step-by-step instructions designed to process vast amounts of data and make unbiased and data-driven decisions.
- Retail investors can benefit from algorithms by making better-informed decisions, executing trades quickly, and managing risk more effectively.
- Algorithmic investing offers advantages such as speed and efficiency, back-testing, risk management, diversification, and accessibility.
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VIE Stories
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Shubh Muhurat to Buy Gold – Days & Timing 2024
- Gold is considered a valuable metal and purchasing it is related to the belief of wealth, prosperity and good fortune in India.
- Buying Gold during a Shubh muhurat is believed to enhance its auspiciousness and brings wealth and prosperity into homes.
- Auspicious days like Akshaya Tritiya or Pushyami/Pushya Nakshatra are believed to bestow good luck and fortune on those who purchase Gold.
- Makar Sankranti, Ugadi and Gudi Padwa, Akshaya Tritiya, Navratri, and Dhanteras are some of the most auspicious days for purchasing gold.
- Purchasing Gold on Makar Sankranti is believed to bring prosperity and luck as it symbolizes the end of winter and the beginning of longer hot days.
- Buying gold on Ugadi and Gudi Padwa is considered to attract blessings and success throughout the year, representing prosperity, good fortune and the hope of a new beginning.
- Navratri is a great time to invest in gold to attract wealth and prosperity into homes, with Dhanteras being the best day for buying Gold.
- It is advised not to engage in any auspicious work or buy gold during Rahu Kaal timings.
- Some of the most auspicious days for purchasing gold are Makar Sankranti, Akshaya Tritiya, Dhanteras, Navratri, and Pushya Nakshatra.
- Monday, Tuesday, Thursday, and Sunday are known as the best days to buy Gold in a week, while Amavasya and Saturday are considered inauspicious for purchasing it.
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TechBullion
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Fintech Startups: Disruptive Technology Reshaping Global Financial Services
- Fintech startups are using technology to offer innovative ways for people and businesses to manage their finances.
- Mobile apps, artificial intelligence, and blockchain have made financial services more accessible and user-friendly.
- Robo-advisors, budgeting apps, and credit monitoring services are some of the fintech tools empowering individuals to take control of their finances.
- Fintech companies are disrupting traditional banking methods through digital payment systems, innovative lending options, and community banking.
- The integration of IT and outsourcing is crucial for fintech development, enabling companies to offer better services and improve efficiency.
- Fintech is particularly popular among younger people who prefer user-friendly platforms, while trust is essential for fintech adoption.
- Fintech startups have made a significant impact across the globe, with varying impacts on different regions, including in developing economies.
- Fintech and insurtech are merging, leading to innovative AI-driven insurance solutions that focus on data analytics to manage risk in customer-centric models.
- Open banking allows consumers to share their financial data with different companies, leading to better services and more choices.
- Traditional banks must adapt to these changes or risk becoming obsolete. The future of finance looks bright thanks to the creativity and innovation of fintech companies.
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Inc42
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Rebel Foods’ EatSure Gambit
- Indian cloud kitchen unicorn Rebel Foods is set to go against Zomato and Swiggy via an IPO, while Temasek Holdings reportedly makes a play for a significant stake in Rebel Foods. The firm’s smart food court model, launched in Pune in 2023 and soon to be under the EatSure banner, is what sets it apart from other cloud kitchens: pre-order food for take-away and order food from different outlets for home deliveries. This could expand EatSure's food court format and branded outlets for a dine-in experience. A differentiator for Rebel Foods is the launch of REbel Launcher, which allows established brands to leverage the company's expertise in this field by offering supply chain support and full-stack technology solutions, without having to invest in infrastructure to launch delivery-only kitchens.
- Rebel Foods operates over 450 kitchens in 75 cities, and is also in the Middle East, North Africa, Indonesia, and the UK. Uphill battles ahead include building brand awareness for in-house brand EatSure compared with competitors such as Jubilant Foodworks owner of the Domino’s franchise in India and McDonald’s owner Westlife Foodworks.
- Also announced this week, Jio Platforms' bottom line saw a YoY shot of 25% and Temasek will acquire a controlling stake in Lendingkart with INR 252 Cr (USD 33.4 Mn), while Karnataka is planning to add fees for transactions on aggregator platforms.
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Medium
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A Step-by-Step Guide to Early Customer Interviews: Validating Your Product Idea
- Early Customer Interviews (ECIs) are exploratory conversations with potential customers to understand their thoughts on a problem you're solving.
- ECIs provide qualitative data to guide your product journey by understanding customer needs and behaviors.
- Prepare by holding hypotheses loosely and crafting a well-structured interview script focusing on past experiences.
- Summarize findings after conducting interviews to refine your understanding of the problem and potential solutions.
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Medium
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AI: Where to Invest?
- Investing in AI still remains a grey area for venture capitalists. Sequoia Capital shows a graphic with a big blank space, leaving the question unanswered. The Information's article, 78 Artificial Intelligence Startups That Could Be for Sale This Year, suggests the mood away from investing in late entrants or features is in full swing. However, one use case to invest in AI that feels certain is evaluating venture-backed companies. This does not use the Language Modelling Method (LLM) but rather combines heuristics created by and scored by humans with machine-learning pipelines.
- SignalRank's platform is a prime example of this. It captures human attributes and quantitatively analyses investor behaviour and decisions rather than focusing on company-level data or financial fundamentals. It takes human factors into account and combines them with machine learning in order to selective private market assets.
- Focusing on investors who play 'multiple hands across multiple tables' allows the model to aggregate consistent human judgement over time. Qualitative human attributes are turned into structured data, which the SignalRank algorithm uses to create objective signals.
- Once listed, the SignalRank index will be available to retail buyers also, with the minimum purchase being a single share. As money flows into the index, it is used to support partners' pro-rata in the next set of companies. The goal is to have an index of around 200 companies at scale, constantly refreshed through exits and new investments.
- Investing in AI for enterprise apps, angel and seed investing is still a question facing investors. But investing in AI to evaluate venture-backed companies is becoming more popular. Heuristics created by and scored by humans is combined with machine-learning pipelines in order to selectively choose private market assets. As this model becomes a combination of human insight and machine learning precision, private market assets will become more accessible to accredited and retail buyers alike.
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Yourstory
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351
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GoM proposes GST exemption on health insurance policies
- Term life insurance policies and senior citizens' health insurance premiums are likely to be exempted from GST.
- GST on health insurance with coverage up to Rs 5 lakh will be exempted for individuals, excluding senior citizens.
- 18% GST will continue to be levied on health insurance coverage exceeding Rs 5 lakh.
- The GST Council will make the final decision on GST exemption for health and life insurance premiums, along with rate rationalization, in its next meeting.
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Medium
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Maximize Your Startup Capital with Government-Backed Financing
- Last year, around 8,000 businesses in Canada utilized Canadian small business loans to secure financing.
- Government loans in Canada provide vital financial assistance to businesses through guaranteed underwriting of loan terms and conditions.
- The government acts as a cosigner, guaranteeing a significant portion of borrowing to financial institutions.
- The Canada Small Business Financing Program (CSBFP) offers loans of up to $350,000 for equipment, leasehold improvements, and working capital costs.
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VIE Stories
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40
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boAt Company India’s largest wearable brand Growth Net worth and Business Model & Strategy and Future Plan
- BoAt is an audio equipment and electronic gadgets manufacturer founded in 2016 by Aman Gupta and Sameer Mehta in Haryana, India.
- The country’s electronic hardware output climbed from Rs. 4.43 trillion in FY19 to Rs. 5.47 trillion in FY20. India’s demand for electronic devices is estimated to exceed $400 billion by FY24.
- BoAt's business model is entirely focused on what their customers want and is based on a D2C model that ensures its products are affordable and durable.
- BoAt's revenue from operations was Rs 1511.7 Cr, while its other income was Rs 19.57 Cr in FY2021, making it one of the fastest-growing electronic and audio companies in India.
- BoAt is the largest wearable brand in India providing affordable, durable, and fashionable electronic gadgets and audio-centric devices such as wireless speakers, earbuds, wired and wireless headphones, earphones, and many other technological accessories.
- BoAt aims to help Indians obtain all high-quality technology equipment by producing more and more items and strengthening its position as a leader in the electronic gadgets industry.
- Aman Gupta, the co-founder of BoAt, formed the company and journeyed from being a CA to an entrepreneur, struggling with a challenging journey with a Rs 10,500 crore-worth company.
- Most of the BoAt's products are made in China with third-party manufacturers, which caused the company to face many issues in importing products from China due to the India-China dispute and COVID-19.
- Under the PLI scheme, BoAt has recently set up a 50:50 joint venture with Dixon Technologies to manufacture some BoAt products in India.
- The consumer digital economy in India is estimated to reach US$ 800 billion by 2030, up from US$ 85-90 billion in CY20, causing an increase in online purchasing.
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