• Strengthen Pune’s creator ecosystem
• Open doors for collaboration among brands, creators & entrepreneurs
• Provide insights from leading industry voices
• Educate & inspire the next generation of digital talent
• Highlight Pune as a rising cultural hub for creators

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NEW DELHI: A first-of-its-kind, MountTech Growth Fund or MGF-Kavachh by former Defence Secretary Dr. Ajay Kumar, along with three co-founders, is specifically tailored to nurture startups that drive advancements in deep-tech and strategic sectors, ensuring the indigenization of critical technologies, products, and services essential for India’s national security and technological leadership.

Dr. Kumar, who has been instrumental in steering many of India’s technology and defense-related policy reforms, now spearheads MGF-Kavachh as its Founder and Chairman.

“India stands at a pivotal moment, with an unparalleled opportunity to leverage its strengths amid evolving global dynamics. MGF-Kavachh aims to catalyze this growth by focusing on local innovation and the indigenization of critical technologies in areas of national importance. MGF-Kavachh will nurture promising start-ups working at the intersection of innovation, space, aerospace, deep technology, and India’s ‘Atmanirbhar’ agenda while solving its strategic needs across sectors like National Security, Defence and Aerospace, and Digital Communications,” stated Dr. Kumar.

Since receiving SEBI approval in January 2024, MGF-Kavachh has swiftly garnered commitments surpassing its planned corpus size of ₹250 crores. The fund has declared its first close at over  100% of its targetted corpus reflecting the strong confidence and interest from investors and institutions in the thesis as well as the MGF-Kavachh team. It will now be using its green-shoe option of another ₹250 crores before its final closure.

An exceptional team backs the fund, with Air Chief Marshal RKS Bhadauria (Rtd.) Vice Admiral SN Ghormade (Rtd.), and Lt. General Dr Anil Kapoor on the Strategy and Oversight Board, among other notable names. The Advisory Council comprises eminent experts and professionals who passionately share MGF-Kavachh’s vision of a “Stronger India Safer World” and includes Smita Purshottam, IFS (Rtd.), Ex Indian Ambassador to Switzerland and Venezuela and Founder of SITARA; Gani Subramaniam, Founding and Managing Partner Yali Capital; Dr. Manan Suri, Prof. IIT Delhi; Binay Kumar Singh, IPS (Rtd.), Ex DGP Chhattisgarh, Ex Intelligence Bureau Veteran; Ravi Singh, a versatile and respected deep tech Investor, Arvind Lakshmikumar, deep tech entrepreneur and founder Tonbo Imaging; Dr. Vinod Agarwal, a renowned semi-conductor expert, tech investor and serial entrepreneur from the Silicon Valley, Dr. Pratyush Kumar – Tech Investor, and Former Head – Boeing South Asia and Vish Sahasranamam – Co-founder of Forge Innovation and Ventures – a leading private incubator of India.

 Former senior telecom industry executive Mr. Raj Sethia is a co-founder and Managing Partner and leads a small but exceptional team of professionals. He brings with him a deep understanding of business, finance, and technology, a rare combination.

The fund’s focus on IP and technology-driven businesses aims to transform India into a hub of strategic and technological excellence in the space, aerospace, and deep-tech sectors. 

“The Fund’s strategy is built on four pillars: rigorous gatekeeping, robust portfolio construction, a unique acceleration platform for its investees, and a razor-sharp execution focus,” expressed Raj Sethia, Founder and Managing Partner at Kavachh.

“Self-reliance in strategic sectors is an existential need for the country and a lucrative opportunity for investors,” shared Suryakant Dalmia, Co-Founder at MGF-Kavachh.

“MGF-Kavachh, with its focus, credibility, and platform, will be the first port-of-call for founders, co-investors, institutions, and eco-system players,”, shared Abhinav Munshi, Co-Founder at Kavachh.

The post Former Defence Secretary Dr. Ajay Kumar’s MGF-Kavachh India’s First VC Fund Announces Its First Close At Over 100% Of Its Targeted Corpus appeared first on NRI News.

In the world of start-ups, managing data is crucial for success. As these young companies grow, the amount and complexity of their data can quickly become overwhelming. That is where a dedicated Customer Relationship Management (CRM) system comes in handy. It helps start-ups streamline their operations, improve customer interactions, and ultimately drive growth. Let’s dive into why a dedicated CRM is essential for optimizing data in a start-up.

Centralized Data Management

One of the biggest advantages of having a CRM system is centralizing all your data. Many start-ups juggle data across spreadsheets, emails, and various tools. This makes it tough to access and manage information efficiently. A CRM pulls all customer information, interactions, and transactions together. This means everyone in your organization has access to the most up-to-date and accurate data, which makes decision-making and collaboration so much easier.

Better Customer Insights

Understanding your customers is key to building strong relationships, especially for start-ups. A CRM collects and analyses customer data, providing valuable insights into their buying patterns, preferences, and feedback. With this information, start-ups can tailor their marketing strategies, improve customer service, and develop products that meet customer needs. By leveraging CRM data, you can create personalized experiences that foster loyalty and encourage repeat business.

Boosted Efficiency and Productivity

Manually entering data and dealing with scattered information can be incredibly time-consuming and prone to errors. A dedicated CRM automates many routine tasks like data entry, follow-up reminders, and reporting. This automation reduces errors and frees up time for your team to focus on more strategic activities. Plus, CRM systems often come with features like workflow automation and task management, which streamline processes and boost overall productivity. For start-ups with limited resources, these efficiency gains are a game-changer.

Better Sales Management

Managing the sales pipeline is crucial for start-ups aiming for growth. A CRM provides tools for tracking leads, managing opportunities, and monitoring the sales process from prospecting to closing. This visibility allows sales teams to prioritize their efforts, identify bottlenecks, and ensure no opportunities fall through the cracks. Plus, CRM analytics help you forecast sales trends and set realistic targets, making strategic planning much more informed.

Improved Customer Retention

Retaining customers is often more cost-effective than acquiring new ones. A CRM helps maintain strong relationships with existing customers by keeping track of all their interactions, preferences, and history. With this information at your fingertips, you can provide timely and personalized communication, anticipate customer needs, and address issues before they escalate. By fostering positive relationships, a CRM can significantly boost customer satisfaction and retention rates.

Scalable Growth

As start-ups grow, their data management needs become more complex. A dedicated CRM is designed to scale with your business, handling an increasing volume of data and more sophisticated requirements. This scalability ensures you can continue operating efficiently as you expand. Plus, many CRM systems integrate with other business tools and platforms, allowing you to build a cohesive technology stack that supports your evolving needs.

Data-Driven Decision Making

In today’s competitive business environment, making data-driven decisions is essential. A CRM provides the data and analytics needed to understand your performance, identify trends, and make informed decisions. With real-time access to key metrics and reports, you can quickly adapt to changes, optimize your strategies, and stay ahead of the competition.

To sum up, a dedicated CRM system is a must-have tool for start-ups looking to optimize their data and drive growth. By centralizing data, providing valuable insights, enhancing efficiency, and supporting scalable growth, a CRM empowers start-ups to build stronger customer relationships and make informed decisions. In a world where data is a key competitive advantage, investing in a CRM is a strategic move that can set your start-up on the path to long-term success.

The post Why do Start-ups Need A Dedicated CRM To Optimise Data? appeared first on NRI News.

Jai Chechani further highlights that this synergy between startups and educational bodies will result in a more dynamic and responsive educational system, capable of adapting to the rapid pace of technological and market changes. He believes collaboration between startups, the government, and industry is crucial to maximizing the benefits of skilling initiatives, as startups can offer internships, mentorships, and training programs, while the government can facilitate funding and resources.

These insightful perspectives from Jai Chechani set the stage for the upcoming Global Unicorn Summit 2024, scheduled for August 24, 2024, in Bengaluru. The upcoming summit, in partnership with Zee Business and WION, will bring together over 500 industry leaders to delve into crucial topics such as disrupting marketplaces, the fintech revolution, and the transformative potential of Web3, blockchain, and crypto innovations, etc.

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 Moreover, the Credit Guarantee Scheme for MSMEs in manufacturing, leveraging digital footprints for credit assessment, and measures to support MSMEs during stress periods are game changers that will foster innovation, expand access to credit, and sustain entrepreneurial resilience. Enhancements in Mudra Loans, mandatory onboarding on TReDS, and SIDBI branch establishments in MSME clusters will unlock working capital, improve credit access, and extend critical support nationwide.

 In essence, this budget lays down a robust roadmap for MSMEs, propelling us toward the vision of ‘Viksit Bharat’. We at Firefly Fire Pumps are excited to align our efforts with these initiatives, fostering an environment where MSMEs can thrive and contribute significantly to India’s economic renaissance.”

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Human Capital Optimization

As a startup, every resource counts, making it essential to ensure that employee productivity is optimized to the fullest. To maximize the impact of human capital, it is crucial to efficiently delegate tasks and maintain a centralized view of what everyone in the organization is doing. Startups can also leverage data-driven approaches to optimize their sales force and capture the highest possible revenues. This involves customer segmentation, workload mapping, and task automation. In the fast-paced and resource-constrained environment of a startup, every employee’s contribution counts.

Data-Driven Decision Making

Another area that has gone unnoticed by many startups, resulting in a loss of potential revenues, is data-driven decision-making. Most startups rely heavily on intuition instead of using the wealth of information available while making key decisions about their business. Many startups also collect data but don’t know how to use it effectively to guide decision-making. Startups can rely on trusted third-party software to better manage costs while also using the data that is readily available to them. This can be seen as an investment, but a necessary one. According to the Big Data and Artificial Intelligence survey conducted in 2019 by NewVantage Partners, 92% of leading businesses are investing in big data and AI initiatives to drive innovation. By developing robust data models for analyzing customer potential, buying behavior, and market trends, startups can make better choices concerning target segments, pricing policies, and resource allocation.

CRM Integration for Enhanced Customer Engagement-  

Another way a startup can increase its income is by taking advantage of advanced Customer Relationship Management (CRM) strategies. CRM is a business strategy that manages a company’s interactions with current and potential customers. For startups, CRM is crucial because it helps them understand and profile their customers better. It enables startups to tailor their marketing efforts, sales strategies, and customer service to meet the specific needs and preferences of their target audience. By leveraging CRM, startups can gain a 360-degree view of customers, personalize marketing and sales, improve customer service, enhance sales forecasting, and streamline operations. CRM simplifies customer interaction and provides important data insights, enabling startups to streamline sales activities, improve client engagement, and generate untapped opportunities for revenue growth.

Supply Chain Optimization

Another hidden avenue of profit maximization for startups is the optimization of their supply chain. Inefficient management of the supply chain can lead to stock-outs, late deliveries, and increased costs which impact directly revenue. Startups must carry out a thorough analysis of their supply chain, identify bottleneck areas, and implement measures to enhance efficiencies such as just-in-time inventory management, supplier diversification, and process automation among others. Through optimizing its supply chain, a startup will cut down on costs, develop better customer relationships, and ultimately boost its revenues.

Sourcing and Procurement

How start-ups source or procure materials, services or other resources could make a significant difference in their incomes. Poor sourcing practices may result in higher costs and poor quality products being delivered late thus eating into profitability margins. New businesses should carefully evaluate their sourcing strategies using data analytics and market intelligence tools to find out about the most economical and dependable suppliers. By doing this, start-ups can optimize their sourcing processes and decrease operational expenses thus improving overall financial performance.

Pricing and Monetization

The last thing that needs to be considered by a start-up is the way it prices its products or services. Many startups face the challenge of striking a balance between pricing that attracts customers and pricing that maximizes the potential for revenue generation. Startups can leverage data analytics and specialized tools to develop sophisticated pricing strategies. By analyzing customer data, startups can gain insights into willingness to pay, price sensitivity, and perceived value. Web analytics and surveys provide behavioral data to segment customers and tailor pricing. Pricing optimization software can analyze sales, trends, and factors to recommend the optimal approach.

To sum up, while startups focus on traditional revenue optimization strategies, many hidden areas affect their financial viability in large measures. Start-ups can generate growth in revenues and long-term sustainability through human capital optimization, data-driven decision-making, CRM integration, supply chain efficiency sourcing and procurement, and pricing and monetization.

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Tally MSME Honours is an annual initiative to recognize businesses and entrepreneurs for their contribution to the economic advancement of the nation. The honors recognize and celebrate the diversity and the positive impact of MSMEs through their best practices at the grassroots level. A platform to reckon with which is also being supported by several renowned organizations, this year the initiative reached the length & breadth of the country and honored businesses from remote and smaller regions like Unnao, Agartala, Vapi, and Asansol amongst others. This is a true testament to MSME Honours being an inclusive recognition platform to ensure that the real impact makers across the tiers of cities, segments, and the unsung heroes driving the economy are celebrated. These honors are given out once a year on the occasion of International MSME Day and apply to all types of businesses with a turnover of fewer than 250 crores and a valid GSTIN.

Shubham Patil from Genesis Tech Engineers Pvt Ltd is honored in the ‘New Gen Icon’ category. The company specializes in MEP (Mechanical, Electrical, Piping) system design for a diverse range of industries, including semiconductor infrastructure, energy sector power plants, solar infrastructure, transportation, space, and chemical-oil-gas designs. Genesis Tech Engineers provides MEP design validations, ensuring compliance with engineering standards and local government policies. The company also offers comprehensive project management solutions, aiming to deliver projects within agreed timelines. Their Special Project R&D Department focuses on innovation and automation, tackling complex engineering challenges.

Kavita Chakraborty from Konnect Consultancy Services Pvt Ltd is honored in the ‘Wonder Woman’ category. The company delivers comprehensive financial services—bookkeeping, taxation, and payroll—primarily to the export sector. Utilizing both online and traditional sales channels, the firm has achieved steady growth, expanding its client base and enhancing customer satisfaction.

Celebrated across four zones (East, West, North, and South) of the country, the honors were given across 5 categories:

• Wonder Woman: Recognizing women who have overcome challenges to establish thriving businesses, inspiring others in the process.
• Business Maestro: Celebrating seasoned professionals whose expertise and resilience serve as guiding beacons for aspiring entrepreneurs, laying the groundwork for enduring success.
• New Gen Icon: Highlighting startups as dynamic leaders in the business landscape, pioneering fresh solutions to age-old challenges, and carving out new paths for growth.
• Tech Transformer: Honoring businesses at the forefront of technological advancement, leveraging digital tools to drive efficiency and effectiveness in their operations.
• Champion of Cause: Acknowledging champions who prioritize the global well-being of MSMEs, making significant contributions towards fostering a more sustainable and inclusive business environment.

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MUMBAI: Udyog Plus, a B2B platform from Aditya Birla Finance Limited (“ABFL”), the lending subsidiary of Aditya Birla Capital Limited (“ABCL”), is capitalizing on its growth trend. Within nine months of its launch, the platform has attracted over 8 lakh users, highlighting its strong acceptance in the MSME sector.  ABFL has played a major role in facilitating access to finance in two minutes for MSMEs.

Udyog Plus has facilitated loan disbursements exceeding ₹500 crore, with the Aditya Birla Group (ABG) ecosystem contributing about two-thirds of this amount. The platform manages an AUM of around ₹250 crore, serving various lending needs, including unsecured business loans, merchant loans, supply chain finance, and working capital solutions. Additionally, many customers use Udyog Plus to access insurance solutions along with loans.

ABFL is expanding Udyog Plus within the ABG ecosystem and reaching a broader MSME audience. The platform has partnered with major ecosystems such as e-commerce and digital platforms, business management platforms, and Digital Public Infrastructure like OCEN and ONDC. These partnerships enhance the platform’s offerings and reach.

Udyog Plus also provides value-added services such as business networking, digital commerce, and applications for accounting and payroll, helping MSMEs streamline their operations. The platform, including its mobile app, offers a complete digital journey from underwriting to collections, ensuring a seamless financing experience.

As Udyog Plus continues to expand, ABFL remains committed to delivering sustainable returns and enhancing its capacity to serve MSMEs. This growth aligns with the increasing credit disbursement trend to micro, small, and medium-sized enterprises.

Recently, it has been observed that the MSME sector in India is experiencing a credit boom, with credit to micro and small enterprises growing by 18.6% to ₹19.64 lakh crore in April 2024 compared to the previous year. Similarly, credit to medium-sized organizations also jumped by 16.5% during the same period.

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As a highlight of the event, Avaali also unveiled its Velocious Invoice Portal, powered by UiPath, designed to help businesses reduce Accounts Payable process cycle times and enhance process visibility. Speaking about the success of the event, Srividya Kannan, Founder-Director at Avaali said, “Automation has become the key to unlocking operational efficiency and competitive differentiation. And when it comes to automation, UIPath solutions stand out as one of the most compelling options for enterprises.“

Nitin Kotian, Regional Vice President, Partner/GSI, India & Asia South, UiPath said, “Automation is the compass that helps organizations navigate the complexities of digital transformation with ease. By leveraging AI-powered automation to streamline processes, boost efficiency, and enhance customer experiences, businesses can achieve better business outcomes and gain a competitive advantage.“

The Velocious Invoice Portal was met with great enthusiasm as it is designed to help businesses reduce Accounts Payable process cycle times and enhance process visibility. The roadshows have cemented Avaali’s dominant voice in the conversation on digital transformation for businesses. Avaali is committed to helping organizations on their automation journey and will continue to host more roadshows in the future. With the help of UiPath, Avaali is confident that it can provide the best solutions to help businesses achieve their digital transformation goals.

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The program has seen adoption from local shop owners across various categories, including Apparel, Home and kitchen, Health and Personal Care, Electronics, Books and toys, and more. Pune, in particular, is at the forefront of this transformation, with local shop owners embracing the initiative across various categories, including Kitchen, Apparel, Grocery, Electronics, Inverter Batteries, Home, Furniture, and more.

The ‘Local Shops on Amazon’ program has become a thriving platform, boasting an extensive network of more than 300,000 brick-and-mortar retailers and neighborhood shops spanning 344 cities. This impressive presence encompasses not only major metropolises but also tier 2 and tier 3 cities. Notably, this includes a robust contingent of 35,000+ stores from the vibrant state of Maharashtra, with a widespread presence in key cities like Mumbai, Pune, Thane, Nagpur, Satara, and Nasik.

The program brings the advantages of e-commerce to offline retailers and neighborhood stores, allowing them to reach customers far and wide while preserving the essence of local businesses. Customers can now discover products from trusted and beloved neighborhood stores within Pune from the comfort of their homes, thanks to this program. Local shops are transitioning into digital stores, and sellers have the flexibility to serve customers beyond their immediate vicinity, either through their existing delivery mechanisms or by partnering with identified courier services.

Santosh Mane, the proud owner of ‘Captooe,’ a renowned footwear store located in Pune, Maharashtra, is among the 35,000+ offline retailers and neighborhood stores from Maharashtra that have registered as sellers on the ‘Local Shops on Amazon’ program. This initiative brings the advantages of e-commerce to offline retailers and neighborhood stores, supplementing their existing foot traffic with a strong digital presence on Amazon.in, thus expanding their reach.

The decision to embrace the online marketplace proved to be a game-changer, yielding positive results. Santosh expressed his deep satisfaction with Amazon’s extensive range of management and product suggestion tools, which played a pivotal role in guiding his product selection and devising effective strategies for his account. This strategic approach resulted in significant improvements in visibility and sales, not just within Pune but throughout Maharashtra, a feat previously deemed unattainable. Over the course of 1.5 years with Amazon, he witnessed an impressive 60% growth in his overall volume, particularly in men’s and women’s footwear.

Abhishek Jain, Head, of Local Shops, Amazon India, said, “I am truly inspired by the remarkable transformation happening in Pune through the ‘Local Shops on Amazon’ program. It’s not just a program; it’s a testament to the entrepreneurial spirit of local shop owners, who have embraced this initiative and witnessed exceptional growth. Their journey from offline to online, powered by Amazon’s tools and support, is a testament to the endless possibilities of digital commerce.“

With the Indian festive season around the corner, there is a huge opportunity for local shop owners to grow their business online as there will be a surge in demand for festive and related products. In the recently concluded Amazon Prime Day 2023, Small and Medium Businesses (SMB) saw strong sales as SMBs on Amazon.in received 20 orders every second, and over 90,000 SMB sellers received orders from Prime members across 19,000+ pin codes in India. By taking advantage of the increased demand, traffic, and special offers, MSMEs can boost their sales and reach new customers.

Amazon’s ‘Local Shops on Amazon’ program has become a game-changer for local shop owners in Maharashtra, allowing them to embrace digital entrepreneurship and reach customers far and wide. With the festive season around the corner, the program presents a huge opportunity for local shop owners to grow their business online and tap into a broader customer base.

Amazon in Maharashtra

• Total Sellers (Maharashtra): 1.6 lakh+  
• Total Local Shops Sellers (Maharashtra): 35,000
• Number of Fulfillment Centers: 14 with more than 6 million cubic feet of storage space
• Number of Sortation Centres: 6 with more than 516,000 sq. ft. of processing area
• Number of Service Partner Delivery Stations: Close to 200
• Number of ‘I Have Space’ stores: Close to 3000

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