1 October 2014 ~ "TAKE NO AS A QUESTION "

Thursday 30 October 2014

With 55,000 registered users, test prep startup Testbook raises an INR 1.5 crore round


With 55,000 registered users, test prep startup Testbook raises an INR 1.5 crore round


Started in January 2014, Testbook provides a variety of mock tests to give student’s preparation a final shape for most of the competitive exams being conducted Online in India like GATE, CAT, SBI PO, SBI CLERK, IBPS PO, etc. The company has announced a fund raise of INR 1.5 crores through LetsVentures and Ah! ventures along with few angel investors from outside. This round was led by a Delhi based investor, Utsav Somani and MD of Carlyle Group, Shankar Narayanan along with other investment bankers, educational professionals, mobile experts and entrepreneurs.
Testbook_Team
Testbook has been founded by 6 IIT Mumbai and Delhi alumni who have been behind the product’s steady growth over the year. We covered them earlier in March when they had around 13,000 registered users primarily for GATE preparation. The company currently claims 55,000 registered users who have solved over 30 lakh questions which suggests that a user on average has solved around 55 questions. The content on Testbook is designed and created by respective exam toppers and faculties with teaching experience in the respective domain.
The service is also completely free at the moment and the team is planning to launch some premium features soon. The current focus and the new funds will mainly be used to improve the product and increase the user base. The product has been spreading via the networks till now and new efforts will now be made to market the product effectively.
Online test preparation is one of the hottest sectors within education right now in India because of a huge addressable market that’ll be willing to pay if a product helps a student clear a test. We had earlier carried this list of online test preparation startups being built from India and the space is heating up. Toppr has raised $2.2 million from SAIF Partners and Helion Ventures, Embibe has raised $4 million from Kalaari and there are a bunch of others players in the fray fighting it out. Metrics like time spent on site, engagement with the questions, and success rates will be important for these startups. It is early days for Testbook and this funding fuel will help them focus more on growth and try to grab a bigger piece of the pie.
Website: Testbook






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Online gadget research and review platform 91mobiles secures $1 million funding from India Quotient & others

Online gadget research and review platform 91mobiles secures $1 million funding from India Quotient & others


Online research and reviews platform for mobile phones and gadgets, 91mobiles has secured around $1 million in its pre-Series A round from a clutch of investors led by India Quotient. The round was also participated by Krishna Motukuri,former CEO of ibibo owned – Tradus.com and Umang Kumar, founder & CEO of Gaadi.
The current round of funding will be used in expanding the team, developing better research tools and content for mobiles & tablets categories. The company also plans to build a similar research experience for other gadget categories like wearables, laptops, cameras, and accessories.
yourstory_91mobiles_InsideArticle
At present, 91mobiles drives gadget sales worth $100 million to retailers listed on the site, and earns affiliate revenue from online gadget retailers like Amazon, Flipkart, eBay, etc. Additionally it also works with most of the leading gadget and telecom brands including Samsung, Micromax, Asus, Dell, Airtel among others to provide advertising and branding solutions to promote their range of products.
“We provide information on the latest happenings and launches in the gadgets space, along with expert reviews on interesting new devices, done by our in-house developed tool – Phone Finder which powers over 100,000 searches every day, and provides an exhaustive listing of all available devices and their key specs. The funding will also used to upgrade the existing mobile site and launch an Android application ,” said Nitin Mathur, Cofounder, 91mobiles
Brainchild of Bharanidharan Viswanathan and Nitin Mathur, 91mobiles was launched in mid 2010.With the initial team of 4-5 member, the platform was reaching to 30,000 users per day, in its first year of launch. Its user-base has doubled every year since then, to reach over 250,000 users currently on a daily basis. 91mobiles has an annual revenue run rate of over $1 million, and is aspiring for 300% to 400% growth in the next two years.
An ISB alumnus, Bharani was earlier the Co-founder & CTO of Accentium Web which was acquired by iBibo. Nitin is a graduate from IIM-Calcutta, and had earlier founded an online loyalty & reward venture, PrivilegeCorner, which was later acquired by corporate gifting company – eYantra.








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Artist entrepreneur Raghava KK launches Flipsicle to rethink the role of creativity in technology


Artist entrepreneur Raghava KK launches Flipsicle to rethink the role of creativity in technology


Raghava KK is a very different kind of entrepreneur. He does not have a background in technology and that’s what makes him even more interesting.
Raghava is a household name in the field of art and he is using his talent to create a new kind of startup. Flipsicle was born when Raghava was invited by billionaire-visionary Jeff Bezos to share his vision at a private brain-trust/think-tank event last year. He and his wife Netra, an educator and the brain behind his business success in the art-world, decided to have their fourth baby – Flipsicle.
Flipsicle is a lab that creates products with one vision in mind – to use creativity to engender empathy and to see the world through many eyes. They just launched Flittr at Life is Beautiful. Now he’s in India to launch Flipsicle, backed by prominent investors such as Vishal Gondal, former CEO, Indiagames; Gautam Godhwani, founder of Simply Hired; John Maeda, Design Partner at KPCB; and Neeraj Arora, who manages all things business at WhatsApp.
Raghav was named by CNN as one of the 10 most remarkable people in the world.  As an artist, he has collaborated with the greatest artistic minds of our century, including Paul Simon.  National Geographic inducted him into the Society as an Emerging Explorer for his contribution to bringing together art and technology. He is the Chair of the INK Fellows Program and a mentor-advisor at NuVu Studio, SingularityUniversity.  He was one of the first Indians to speak at TED in Long Beach, CA and is a four-time TED speaker. After bringing tech and science into the art world, he is now taking art to the tech world through Flipsicle
One year into the setup, Raghava has raised a seed round of funding, acquired another startup, pivoted multiple times and gone through the entire cycle. He has acquired an e-commerce company and will be launching Flipsicle in India. YourStory caught up with Raghava as he was getting ready for his trip home:
When you were growing up, what was your view of the world? How has that changed over time?
Growing up in India really exposed me to multiple perspectives. India is an impossible democracy. There are so many worlds that co-exist in India. I was a Hindu boy growing up in a Muslim neighborhood and attending a ChristianJesuitSchool. My world was always made up of multiple realities and multiple perspectives. I was used to growing up in a world where many realities existed side-by-side.
When I started traveling and cartooning as a teenager, I realized that there were even more realities than what I had been exposed to in India. I learned that dads can be moms and moms can have tattoos. I’ve always learned from the world and seen the world as my classroom.
RKK
An example of Raghava’s artwork
Coming to Flipsicle, what is the back story there?
When the iPad first came out, I was the guest of Vinod Khosla and spoke at his conference along with Bill Gates. Ironically, I got an iPad as a gift.
I didn’t know what to do with it, so I gifted it to my son, who was one at the time. He loved it! So my wife Netra and I created an iPad art book for him called Pop-it. Pop-it is about the things children do with their parents. It shakes up the concept of the ideal family and is meant to expose children to multiple perspectives at the earliest stage. The book starts out with a gay couple raising a child. If you shake the iPad, you get a lesbian couple. Shake it again, and you get a heterosexual couple.
This is an effort to bring the concept of perspectives to children at the earliest stage. I launched the project at TED Global in 2011. It won several book awards, including a Kirkus Award for best children’s book of the year and started a bit of a movement. The Shaken Media Collective was started in Toronto around the vision of shaking everything up using perspectives through “shaken storytelling.”
This is where the idea of Flipsicle really started – to shake up everything through perspectives.
What were your first few steps of converting your idea to a reality?
Flipsicle started in a very unique place. It was a private and creative brain-trust/think-tank event organized by Jeff Bezos, where I presented my vision for a new knowledge system that was visual and for seeing the world through perspectives. With the tremendous encouragement from some of the smartest minds in the world, I took a plane straight from that meeting to the Valley and went on a road trip to meet anyone who was willing to meet me. I knocked on the doors of the smartest angel investors I could possibly think of, slept literally in my friend Madhavi’s car, and raised my capital within 10 days.
I came back to India for the birth of my third child, my daughter Jaya, and within 20 days, opened Flipsicle in Times Square, New York. I put my tech team together in a very unique way. After interviewing over 40 potential candidates, I made the decision to only employ founding–level minds and engineers. The only way to make that happen was to make an acquisition. We bought a three-year old company, MerchiiAB, from Sweden.
You mentioned that you moved back from US to Bangalore and then you moved back to NY. Why is that? Doesn’t doing that with your family make it so hard?
For the last decade, both Netra and I have spent a significant amount of time in India and the US. It’s always been important to us that our family is comfortable in both places. We were willing to do anything to make our vision come true. I don’t separate work from life. This is what we believe in and we were willing to do anything to make it happen. Also, I knew for sure that I wanted India to be an important part of the story, but it was difficult to find the specific talent I was looking for. Given my connections in the US through the TED world, I chose to kick-start it here. But I’m back to launch it in India and that’s what matters most to me.
What is your mission and vision for Flipsicle?
We are all naturally visual beings. We respond to images. We need a social network that lets us talk in images. Instagram is about beauty. Facebook is about events that happen in our lives. Flipsicle allows you to talk in pictures.
Our mission and vision are the guideposts by which we run our company. We debated whether we should operate as a non-profit organization. But we believe that businesses can and should be sustainable, responsible and value-adding, while being able to take innovative leaps for ambitious growth.  This means we’re committed to the environment, we safeguard the privacy of our users, and we work hard to be transparent and honest. We also give credit where it is due.
Vision: Our vision is to connect humanity’s photos, to help us become more creative, curious and empathetic.
Mission: Flipsicle empowers us to know one another better by helping us to see the world through each other’s eyes.
What kind of culture are you building for your company?
At Flipsicle, we treat each other like family, which isn’t always easy. Don’t expect political correctness and military protocol here. We have brutal and intense debates on decision and strategies – every disagreement is an opportunity to learn another perspective – but we always try to be kind, respectful and fair to one another, and trust in each other’s good intentions.
That’s why we’re picky about who comes in. We make sure that anyone who joins us has gained the trust of the tribe. We have zero tolerance for gossip and online flaming. We trust that everyone on our team will hold himself or herself accountable and directly resolve any issues of concerns with those involved with integrity and grace.
“Every disagreement is an opportunity to learn another perspective.”
Our health, our hobbies and our personal and family lives enrich us as individuals and help us see the world every day with a renewed energy and freshness. We recognize that every individual comes from a community outside of work and we value and encourage deep roots in the eco-systems that support us. Not only do we encourage learning from each other, we bring in experts and friends from the culture around us.
Magic happens when we chart a course and do whatever it takes to get to our goal – always moving forward, learning from our mistakes, working around constraints and fighting for what we believe in. As a group, we will never do things perfectly – we should be shameless about asking for advice and being accountable to one another, pulling together for decisions we make even when we might individually differ. We take risks and leaps of faith, and are not afraid to admit mistakes or failure – we support one another and move on, stronger.
RKK
Flipsicle team posing for a group picture
How did you choose your co-founders? Having your wife as a co-founder, was it hard to convince your investors about the founding team?
Everyone knew very clearly that the vision was both articulated by Netra and me. The company is not about Netra or me but about the vision. We both work for the vision. Our dedication and obsession with the vision is quite apparent to all who work with us and engage with us. Also, Netra and I have complimentary skills. She has a very good business sense and a sense of grounding and I am more the product visionary. We need both of these to make the company work. I have never achieved anything in my life without Netra’s support. I am honored to have a woman co-founder. She brings a different energy to our company.
How did you convince your team and investors for acquiring companies even before you had a product?
As I mentioned earlier, I wanted to work only with founding level people to build this company – self-driven individuals who know how to build things.
Also, Merchii, the company I acquired, I believe, is extremely valuable. Its job was to rethink the future of e-commerce. In today’s world, online commerce still mimics the real world, like a marketplace. But the Internet is really a market-space. Why do we have to go to the amazon.com to shop? Things should come to you. Merchii’s vision was to build a decentralized e-commerce engine. We thought this would be a perfect fit for us and we also loved the team. We invited them for a hackathon in NYC and we all felt we had to work together. It was not an easy thing to acquire a company. We went through a lot. I am very grateful to my investors and to the founders and investors of Merchii for believing in what we are capable of together.
How was Flittr born? 
Flittr is one of the apps from the Flipsicle family of apps. It focuses on public quests. You get to ask people quest in a public forum and they answer through photos.
Tell us more about your new app, Flipsicle, which you are launching in India next week.
We are launching Flipsicle at the INK Conference. It’s very important for us to be launching at the INK Conference, because my first ever talk about my iPad book happened at INK and it is because of that talk that this startup has really happened. I want to show the power of India in making my vision come true. Lakshmi Pratury, the creator of INK is also very passionate about the vision and is thrilled to launch this at INK for us.







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Twitter and IBM announce landmark partnership to help companies make smarter decisions

Twitter and IBM announce landmark partnership to help companies make smarter decisions


Twitter and IBM today announced a landmark partnership that will help transform how businesses and institutions understand their customers, markets and trends – and inform every business decision. This alliance will let enterprises incorporate Twitter data into their decision-making through an established set of IBM tools, solutions and consulting services.
Twitter-IBM-Partnership
The collaboration will focus on three areas:
1.       Integration of Twitter data with IBM analytics services on the cloud: IBM plans to offer Twitter data as part of select cloud-based services, including IBM Watson Analytics, a new cognitive service in the palm of your hand that brings intuitive visualization and predictive capabilities to business users; and a cloud-based data refinery service that enables application developers to embed data services in applications. Entrepreneurs and software developers will also be able to integrate Twitter data into new cloud services they are building with IBM’s Watson Developer Cloud or IBM Bluemix platform-as-a-service.
2.       New data-intensive capabilities for the enterprise: IBM and Twitter will deliver a set of enterprise applications to help improve business decisions across industries and professions. The first joint solution will integrate Twitter data with IBM ExperienceOne customer engagement solutions, allowing sales, marketing, and customer service professionals to map sentiment and behavior to better engage and support their customers.
3.       Specialized enterprise consulting: IBM Global Business Services professionals will have access to Twitter data to enrich consulting services for clients across business. Additionally, IBM and Twitter will collaborate to develop unique solutions for specific industries such as banking, consumer products, retail, and travel and transportation. The partnership will draw upon the skills of tens of thousands of IBM Global Business Services consultants and application professionals including consultants from the industry’s only integrated Strategy and Analytics practice, and IBM Interactive Experience, the world’s largest digital agency.
Ginni Rometty, IBM Chairman, President and CEO said,
Twitter provides a powerful new lens through which to look at the world – as both a platform for hundreds of millions of consumers and business professionals, and as a synthesizer of trends. This partnership, drawing on IBM’s leading cloud-based analytics platform, will help clients enrich business decisions with an entirely new class of data. This is the latest example of how IBM is reimagining work.
With the development of new solutions to improve business decisions across industries and professions, IBM and Twitter will be able to enrich existing enterprise data streams to improve business decisions. For example, the integration of social data with enterprise data can help accelerate product development by predicting long-term trends or drive real-time demand forecasting based on real-time situations like weather patterns.
Dick Costolo, Twitter CEO  said,
When it comes to enterprise transformation, IBM is an undisputed global leader in enabling companies to take advantage of emerging technologies and platforms. This important partnership with IBM will change the way business decisions are made – from identifying emerging market opportunities to better engaging clients, partners and employees.
This announcement has been years in the making. Twitter’s data efforts started when they first made their public data available for analysis. Since then, the social networking giant has made great progress in getting social data into the hands of decision makers. Their acquisition of Gnip earlier this year was an important milestone because it gave them an enterprise-grade platform that delivers more than 15 billion social activities per day to a vibrant ecosystem of customers and partners who are innovating using this data.
Chris Moody, Vice President of Twitter Data Strategy commented,
IBM brings a unique combination of cloud-based analytics solutions and a global services team that can help companies utilize this truly unique data. Companies have had successes with Twitter data – from manufacturers more effectively managing inventory to consumer electronic companies doing rapid product development. This partnership with IBM will allow faster innovation across a broader range of use cases at scale.







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How SmartPocket is looking to make the future a wallet-less affair

How SmartPocket is looking to make the future a wallet-less affair

“Luck is when preparation meets opportunity,” said Roman philosopher Seneca. For 28 year old Mayank Shah that opportunity came knocking when he realized that his boss at Goldman Sachs harboured dreams of starting up, just like him. “Coffee breaks invariably turned into conversations on how technology was turning the world on its head, and the itch to play a bigger part in the tech revolution grew stronger.” Together they embarked on the adventure of a lifetime when they left the corporate world and started up with SmartPocket- a virtual wallet app that ‘disrupts wallets by making them faster and lighter.’ Mayank believes that in five years, thanks to SmartPocket, no one will need to carry wallets or ‘the zillion plastic cards.’
SmartPocket – A Loyalty Wallet
In a candid chat rife with timeless advice for entrepreneurs, Mayank tells YourStory why SmartPocket is both his wife and his extra-marital affair, the dark side of starting up, how his ‘overnight success story’ is a very long night and what is making the government of Karnataka take young start ups seriously.
You once said that while starting up, “The idea was the easy part.” What was the hardest?
There are two things that are extremely hard. Getting a product market fit, and to keeping the faith when things are going south.
We spent 6 months beta testing. Even before we launched the product, we kept going out with iterations which kept invalidating some of our assumptions. But after constant feedback and 6-8 iterations of product cycles, we have managed to get a good product market fit and our user base is growing at over 200% month on month. This is a constant cycle of building a business, frustrating at times but very rewarding.
We currently have 4 large Indian retailers including Puma and brands from Aditya Birla group and are currently on boarding a very large multi-retail brand. But this was not easy. I have spent hours waiting outside offices, people ignoring my calls, people deferring decisions (I once had a client who met me weekly for 6 months and didn’t convert) and getting quite a few rejections. This can take a pound of pound flesh and hurts emotionally. At these times, one questions one’s path, life and everything; the answer is not 42, but it’s just keeping the faith and keep going. It helps to have great co-founder and team behind you.
Was there a particular incident or event that sparked the idea for SmartPocket?
So my co-founder Kiran Shastri was my boss in my previous life at Goldman Sachs. We were working on personal finance idea last year which we figured could only be a niche play. At that point we decided to shut it down as we wanted to play in much larger and scalable market.
SmartPocket
During this time Kiran went to get a photo copy of his PAN card, and struggled with paying change. This got us thinking, with smart phones becoming ubiquitous in India why couldn’t phones function as a wallet. On delving further we discovered people are discarding loyalty cards, don’t know how to optimize spends on their credit cards and are carrying photocopies rather original DL, pan card, Aadhar cards because they are afraid of pain it takes to get them re-issued if one loses them.
This is when we built out SmartPocket. Now just by registering your phone number not only do you get digital version of your loyalty cards but also can track points accumulated on them. It tells you about offers running on your credit card and helps you save money; SmartPocket also lets you carry scanned digital versions of your ID card. Now no more running to photocopier’s for a PAN card copy. When you need Id proof just email or print from SmartPocket.
In a news profile NDTV wrote that your success was the inspiration for the Karnataka government to launch the Hackcelerator. Being at the helm of a multi-million dollar company at 28, yours is the kind of ‘overnight’ success that mainstream media likes to fetishize. What is the real experience like? How different is it from the glossy version that is usually propagated?
Firstly I wouldn’t necessarily call ourselves successful yet. While we have had some great early wins, but in Frost’s words we have “Miles to go before we sleep”.
Popular media tends to make starting up look very sexy, starting up is far from being a joy ride. The ‘overnight’ success you talk about took us 16 months and in that sense it was a very long night.
Starting-up can mean 70 hour work weeks, no social life, lots of stress and uncertainty, fear of failure, lot of rejections and a frugal life. (I used cycle 100km a week to save on fuel. Nothing like my previous life where I had weekends off to take my sports bike to race track for a spin). In a start-up zone life gets real and fast.
Kiran Shastri, Mayank  Shah
Kiran Shastri, Mayank Shah
But it’s not as bad as I make it sound. Start ups give you satisfaction of creating of something that doesn’t yet exist, this gives a sense of true power and control.  Starting up is a high, but contrary to popular belief, it doesn’t come from large valuations but from mass acceptance of one’s ideas and execution. No entrepreneur goes to sleep feeling happy that my company can be valued at millions, but if a user walks up to him and says your product is awesome, you will see him beaming for the rest of the week.
Also I doubt if GOK is building out a Hackcelerator after seeing us. They have seen multiple start-ups do really well and are seeing them bring in lot of revenue and create jobs, and success of Silicon Valley has reached government offices. I think this has inspired them to help the start-up eco-system.
Right now are you solely focused on taking SmartPocket to the next level or are there different ideas for other ventures you are exploring?
SmartPocket is both my wife and the extra-marital affair on the side. I am completely focussed on it, but within SmartPocket we are looking to expand our footprint to newer segments. We are looking at making customer engagement work for local businesses and are working with some players to prove our model.
How did you secure funding for SmartPocket? What was the initial capital required?
Thanks to our decently long corporate careers, we are comfortably bootstrapped. While we have seen investor interest, we made a conscious decision of not raising capital. We were focused on refining our product and building out a team. We have literally started to raise an angel round this week and are now talking to investors.
From starting up in your student days to now, what were some of the hardest challenges and failures you’ve had to deal with?
I have been programming since I was 12, so the computer science degree from RVCE was a breeze. I went to work straight out of college to Goldman Sachs, and while it was very hard work, I had great bosses, colleagues and awesome work culture which made life very smooth. The hardest challenges I have faced have been at SmartPocket.
I started selling our product to clients even before we had written a single line of code. Selling a dream which is just on paper was hard. One would hear people eloquently list out why SmartPocket wouldn’t work. Thankfully one of them now is a happy customer.
The other challenge was building a team. When we started hiring we heard from a lot of people, everyone wants to associate with the sexiness of start-ups but they still wanted us to match their corporate salaries. At early stages that isn’t feasible, one needs to understand start-ups are high risk-high reward game. You need to buy to the larger vision of what the company is building and make sacrifices now for deferred gratification. This culture doesn’t exist yet. Again we got lucky and managed to hire some very smart people.
Looking back, is there anything you wish you had done differently?
Well so many things. I am sure that given we’re just starting, that list is going to grow further.
We should have run our product-market fit iterations more rapidly. Our initial feedback net wasn’t wide enough. While I started selling even before the product was in place, the product development took place in a bit of isolation. We should have taken different approaches to prototype testing. There are many learnings with respect to building the team.
Let’s talk next year and “Mayank and Kiran’s book of mistakes” will certainly have more entries, but we’ll be wiser, having learnt from those.
What do you want your life to look like in five years’ time?
In five years’ time, I’d hope to be basking in SmartPocket success story glow! So to that extent, it will be SmartPocket’s five years that I’ll want to talk about.
In five years, we’d want our user base to hit nine digit figures and more, be operating in all major markets globally and have most large businesses using SmartPocket to front their loyalty programs. More importantly we want to be the preferred platform for local businesses to digitally engage and provide services to their customers. That we think is a massive market to make millions of such businesses mobile.
What does the future look like for SmartPocket?
We are focused on getting more customers right now, along with building the full product suite. Being a customer facing platform, we hope to have millions of users on SmartPocket talking to their favourite brands and local businesses, using the app to save money, hold cards and basically replace their wallets with SmartPocket for most of the needs.
We also believe that this is a global opportunity, not just Indian. So we do hope to take SmartPocket to other geographies.
Check out SmartPocket here







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Lean patenting strategy Part 2 – Where to file a patent to have an upper hand?

Lean patenting strategy Part 2 – Where to file a patent to have an upper hand?


patentsPatents provide geographical rights to the owner, i.e., a patent is valid only in the country it is applied for. But what if your aspiration is to be a global player? Would you end up filing in each and every country to meet your aspirations? Do all the biggies follow the same path? To answer these questions, we are furthering our series of lean strategies to suggest the optimal strategies involved in narrowing down the countries in which you may aim to seek protection.
The basic factors on which the patent filing strategies depends on are:
  1. Your locations for head office, sales office, manufacturing, servicing, associates and partners, etc.
  2. Your competitor’s location for head office, sales office, manufacturing, servicing, associates and partners, etc.
  3. Where your client base is located? How is the payment capacity of the client base? Does your client base have volumes?
  4. Is it a base technology or an incremental technology for which you are looking out for a patent filing strategy?
  5. Is the subject matter of your technology a patentable subject matter in the country of target?
  6. How is the Political or Economic dynamics in a particular country and how it may change over the next 5-10 years? The current political system may not even allow establishing your business in a particular country, which may be due to various legal regulations.  For example, Facebook is still waiting to make its social platform functional in China. Also, future changes in political or economic dynamics may change your client base, your competitors locations and possibly even your locations
  7. Do you think Facebook is the most popular social network in Japan or Korea?  OR is Google a popular search engine in Russia? Well, thing again!. Another barrier which comes into picture here are the language and social barriers. In Japan, Korea and Russia, the first preferable language of communication is the mother tongue, so global players such as Facebook and Google have a real challenge in entering these markets. So, if your business also has few language and social constraints, you may want to keep these aspects in mind
  8. If your business deals with web based technologies, are you targeting the right countries which have reasonable internet coverage? In which countries are your servers based?
This list of strategies is certainly not an exhaustive list, but this list covers most of the possible aspects that needs to be considered when choosing where to file a patent. It also depends on the kind of business/product, the growth strategies, the target countries, etc., to decide as to which one of these factors would have more weightage than the others. The importance of these factors may change based on each case, and therefore these factors can be used to matrix out your own personalized strategy keeping in mind your company goals.
Here is a hypothetical scenario which highlights the importance of some of these strategies. Let us say a company has an IT hardware manufacturing unit in china but supplies these products worldwide. Keeping in mind that China is a manufacturing hub for IT hardware products; the best bet for the company would be to file for a patent in china. This helps them stop their competition at the origin itself. There may be a chance that the competitors may relocate their manufacturing units but this will cause them to lose cost benefits in comparison to the costs in china.
With respect to client base, a major thing to prioritize is whether the volume of the client is of more importance, or if the payment capacity of the client is more important. Based on this the right countries may be targeted. If volume is of more priority, then countries such as India and china can be targeted. If paying capacity is more essential then countries such as USA, Europe and Japan may be targeted.
Another example which would fit the present world scenario is if a company works on a cure for the Ebola virus. Hypothetically speaking, if a US Research & Development company decides to work on a cure for the Ebola virus, what strategies would they use to protect their technology? It is known that the virus is quarantined and is restricted to Africa only, hence, the main client base, or demand for the cure lies in Africa. Even though the manufacturing of the cure can be done in USA itself using a US manufacturing partner, however an African manufacturing partner may be a better option.  This is due to cost reasons as the manufacturing cost from a US manufacturer will be substantially higher to match up to the payment the capacity of an African buyer. At the same time, another more important aspect would be that of transporting this technology to Africa. Therefore it may make sense to file for a patent in USA to protect the invention at your location, but may be more viable to file in Africa, or other third world countries which may have an outburst of the Ebola virus, or where more cost-effective manufacturing partners are available.
The list of most targeted countries to apply for a patent is generated only after a through analysis based on some of the above mentioned strategies. These strategies not only help you in your business growth, but will also help you ensure that your scope of protection is well thought-out. The right strategy  for one of your main products may not be the right strategy for another product. So keep in mind this is a fundamental base of strategies using which you can base your own strategies.
About the authors:
This post is co-authored by Gaurav Singhal and Ananya Dhuddu. Gaurav is the Director and Principal IP Attorney at Patracode Services Pvt Ltd. A B. Tech in Computer Science, LLB from IIT-Kharagpur and Masters in Business Laws from National Laws School of India University, Gaurav has been working in the IPR field since many years.  Ananya Dhuddu is an Intellectual Property Analyst at Patracode Services Pvt. Ltd. She is a Life Sciences graduate from Pennsylvania State University, USA. She holds a PG Diploma in Medical Law and Ethics from National Law School of India University, Bangalore and a PG Diploma in Intellectual Property Rights and Patent Management from GIIP, Bangalore.







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What’s up at Blume Ventures and what does their portfolio have to say about them?

What’s up at Blume Ventures and what does their portfolio have to say about them?


blume_logoBlume is an angel and seed venture fund that backs startups with both funding as well as active mentoring and support. Blume typically funds startups through multiple rounds, leading up to larger institutional rounds like Series A and B from Venture Capital firms. Founded by Karthik Reddy and Sanjay Nath, Blume has invested in more than 100 companies and is of the most active early stage funds in terms investing quickly and disseminating information useful for the ecosystem (blog). Blume regularly comes out with quarterly reports with views and trends from the startup space. It has now come out with a video wherein the Blume’s portfolio founders are talking about Blume. This is a healthy way for  fund to stay in context and also gives out the message of accessibility. Scroll down to watch the video and we also got in touch with Blume for a few quick Q&A’s:
YS: How is the startup ecosystem looking at the moment? Are startups being able to raise their next rounds?
Blume: The investment landscape has certainly started looking up over last few months. Having a new proactive government has certainly helped in lifting the sentiments. This year has been particularly good for our companies with many of their either having closed their Series A/B funding or in process.
YS: What is Blume’s focus at the moment?
Blume: At this point of time, we are focusing on helping our companies go to the next level both in terms of scale of operations and next rounds of funding. We are also in process of raising a Fund II and are not making any new investments. (read an indepth article about the same)
YS: What stage is Blume in in the fund cycle?
Blume: The Fund 1 has been fully deployed. The raise for Fund 2 has begun. So, we are devoting all our energies in taking our companies to the next level. The Fund 1 still has about 5 years of its life left. We are hopeful with time we will see many successful exits.
YS: Some advice to entrepreneurs approaching Blume.
Blume: As I wrote earlier, we are not making any new investments. Still if you want to get in touch, the best way to get access to Blume is by asking one of our 125 founders to refer. Having worked with us for 1-3 years, they know our preferences very well.

Website: Blume Ventures







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Infosys announces promotions for 4,000 staff in October


Infosys announces promotions for 4,000 staff in Octoberimage


Infosys has given promotions to 4,000 employees in October, as the company continues with its efforts to retain key staff and improve employee morale. With this, it has promoted about 12% of its 1,65,000 employees since the current financial year began in April.
The Bangalore-based software exporter has promoted staff across sales, delivery and business-enabling functions and in all markets. “We announced a quarterly promotion system earlier this year. In August, 5,000 employees across sales, delivery and business-enabling functions across geographies were promoted,” said a company spokeswoman. “With the promotions we did at the beginning of this month, over 19,000 employees have been promoted since April 2014.”
The latest was the fourth round of promotions by the company, with about 10,000 employees getting better roles in April and June. Then, in his first week as the chief executive of Infosys, Vishal Sikka approved 5,000 promotions. This year’s once-a-quarter round of promotions also marks a shift from the longstanding practice at Infosys of giving elevations once a year.
Until now, Infosys’ attempts of engaging with employees at different levels – including promotions, offering 100% variable bonus payouts and Sikka’s crowdsourcing initiative called murmurations – have not shown any improvement in attrition numbers. Infosys reported an attrition rate of 19.5% at the end of the first quarter, and more than 20% in the second quarter through September. At rival Wipro, the rate was under 17% at the end of the second quarter.
However, some experts say these measures would start helping the company from the current quarter. “For a company of the scale of Infosys, any measures take a little time to reflect,” said an analyst at a Mumbai based brokerage. “I believe the company should start reporting lower (attrition) numbers from the December quarter.”
Infosys itself remains confident that it should be able to bring down the rates closer to 14y% in the coming months. “Given the amount of emphasis we place on training, we will be comfortable if attrition is 13-15%,” chief operating officer UB Pravin Rao said earlier this month when Infosys declared its second-quarter numbers.







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5 strategies to tackle the ‘biggest weakness’ interview question


5 strategies to tackle the ‘biggest weakness’ interview question


Screen-Shot-2014-09-18-at-11.23.32-AMManash K Baruah, general manager-corporate HR, STEER Engineering talks about interesting strategies that candidates can explore to answer one of the most tricky interview questions of stating their ‘biggest weakness’
When asked to state the biggest weakness during a job interview, even seasoned jobseekers often wince. The reason being, this is a tricky question to navigate. A wrongly put answer might even disqualify a candidate from being considered for the job role
In a recent interaction, Manash K Baruah, general manager-corporate HR, STEER Engineering shared interesting strategies for candidates to tackle this question.
  • Do not have any weakness
While framing this answer, refrain from presenting yourself as a ‘perfectionist’. Nobody is perfect. You know it and so does the interviewer. They wouldn’t ask this question if they didn’t expect you to answer it. If you say you do not have any weakness, employers might assume that you are exaggerating to get the job or that you are simply not self-aware enough.
  • An exaggerated strength
Talk about an exaggerated strength and put an interesting twist to it. An example of this is, ‘My initiative is so strong that sometimes I take on too many projects at a time.’ This answer starts with a key area that employers are looking out for, which is the ability to take initiatives, but at the same time you are acknowledging that you do have a weakness.
Although you might consider this acknowledgement too honest, it works because it proves you’re being honest. Plus, employers are looking at hiring multi-taskers who can do more with less.
  • Refer to a less-important weakness
All weaknesses are not created equal. Some will go further in determining whether or not you get hired. One of the ways to answer this question is by focusing on something that is not a core skill required for the said position.
For example, as a graphic designer, your presentation skills may not be very important for the position itself. However, admitting that you’ve been working on upgrading your writing skills can be viewed by employers as a sign of self-improvement and can go very well with them.
  • A positive spin to drawbacks
Do not offer an answer that shows a lack of motivation. If you state that you are lazy or a procrastinator, red flags will immediately go up with the employers.
Every cloud does have a silver lining and in this case, if you look carefully, every negative trait has a positive aspect to it. That being the case, you can always answer the question by putting a positive spin to your negative trait.
For example, if you are not a very detail-oriented person, you could say, “I have always been a ‘big picture’ thinker and have to admit that I sometimes miss the smaller details. That is why I always have somebody on my team who is detail-oriented.”
  • Improving past weaknesses
Rather than demonstrating how you are learning to deal with your weakness, why not share with the employer how you overcame a previous weakness? For example, talk about instances such as how public speaking used to send chills down your spine in your younger years? Maybe a drama class or a communications class allowed you to overcome your fear of speaking in front of a large number of people.







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Thumb rules for a perfect job description


Thumb rules for a perfect job description


plan-resized-600-med_With burgeoning competition to hire top talent, writing a ‘standout’ jobdescription is an essential step towards attracting the right candidates…
Over the years, guidelines on what to include in jobdescriptions (JD) have evolved. However, there is a need to look at it again and modify it to attract today’s social media generation. This workforce has accessibility to endless information at their fingertips. They are constantly using the internet, browsing various sites at a time, checking their social media pages, emails and even searching jobs on the go. Thus, there is a need to have a crisp job description which is specific, neither too descriptive nor too vague and with simple and clear language to appeal to this generation.
Satya D Sinha, CEO, MANCER Consulting shares how one can write the right jobdescription to effectively communicate the company’s available positions and the requirements for applicants, at the same time conveying the ethos of the company.
Job title: Create a jobtitle for the position you are looking to fill. The job title should accurately indicate the employee role; reflecting the industry standards and the organisation’s culture. A brief overview of the job role and key responsibilities should be included.
KRAs: All essential functions and key deliverables of the position should be enlisted. Be specific and concise in order to give the candidate a clear idea of the work expectations from the organisation. Include technical and domain related aspects of the position as well as the organisation’s expectations from the role.
Skills: Summarise all qualifications and skills that are imperative for the position, along with the preferred ones. List the level of skill, experience, qualifications and technical and non-technical capabilities demanded by the job.
Organisational overview: Add a brief overview about the organisation. It should encompass the company’s mission, goals, industry and headquarters, location and also brief description of the culture and vision of the organisation.
Relevant details: Include all the essential details on where the position will be located, the type of employment (full-time/part-time/internship). Also, include a brief regarding the level of authority attached to the advertised role.
Compensation: The salary package and benefits such as medical, reimbursements, cab service etc can be included in the jobdescription, if your organisation wants to disclose it.
Contact information: Provide the recruiter’s contact information, so that in case of any doubt or query, the potential applicants can reach out to the person directly.
Besides aiding in getting the relevant talent, a good job description also helps to hold the employee accountable for delivering all aspects of the role mentioned in the JD. This helps to minimise confrontations, confusions and doubts on the employee as well as the employer’s part.
Apeksha Kaushik, TimesJobs.com Bureau






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How to be ready for lateral hiring to build your career


How to be ready for lateral hiring to build your career


shooting_range“Building your career within the company you are currently working in is a less stressful option than joining a new organization. This is the new paradigm that the mid-management is re-discovering today in the technology space,” saysArpita Choudhary, Skills Development Head, HanDel Technologis Ltd, a company that got funded recently.
Gone are the days when employees thought the only way to build careers was to switch jobs. Prolonged cautious hiring and a greater focus on getting the employee to stay with the company for atleast two to three years has ensured this change in trend.
“When you join a new organisation it takes a while before you can settle in, while with lateral hiring you are already aware of the company culture and several key people with whom you need to interact, making the switch more smoother and faster,” says  Shubahshree Seshna, CEO, System Specfx Pvt Ltd, a speciality IT Training firm. “This was how people built their careers before the IT boom started the frenzy of job switching. And those with about seven to ten years experience are re-discovering this advantage today.”
So what must one be aware of when looking to change jobs laterally?
Timesjobs takes a look at a few key points:
Alignment with company goals: “There are two things one must keep in mind when looking for career options within the existing company: how your lateral shift can benefit the company and what you bring to the table,” says Choudhary. “If you are able to align yourself suitably to address these two issues, your shift will be smooth and swift.”
Focusing on this also gives a perspective of the kind of work, attitude and personality you bring that is well in tune with what the company expects for the role you seek. “It is important to understand this because at the end of the day, you are part of the company and the progress of the company affects you indirectly or directly,” says Seshna.
Evaluating oneself clearly: “This is one basic thing that needs to be done, without underestimating or overestimating oneself, “says Seshna. “You need to conduct yourself in such a way that the management feels you are ready for the job and have several requisite skills that can be honed upon in the new area of work.”
Dispensable-factor at current location: What this means is that in case you cannot take leave without the work process facing snags at your current place of work, it can be a looked upon as a key deterrent.
“Work and conduct yourself in such a way that even if you are gone for a week everything will not come to a standstill,” says Choudhary. “If you are indispensable where you are, the chances are your boss will not let you go, and the senior management will back him. So your best chances are in being a team player. Do regular evaluation of work not just with your superiors but also with co-workers and other team managers, well in advance to ensure you reach this.”
Building and maintaining relationships
“Working in a silo is a definite no no,” says Choudhary. “To grow within an organisation you need to be aware of where the requirements are (or can be) and align yourself accordingly. For this building relationships is a definite must, across the organisation.”
Kanchana Dwarakanath, Timesjobs.com Bureau
Kanchana Dwarakanath is an integrated communications professional with diverse experience in journalism & Marketing Communications. Her current focus areas include real estate, infrastructure, urban management and the skill development market







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Foods that don't let you slim down

Foods that don't let you slim down


Foods that don\'t let you slim down
Foods that stop you from slimming down (Thinkstock photos/Getty Images)

Your diet staples could be sabotaging your efforts to slim down and denying you vitamins and minerals

Those low-fat, low-taste alternatives passed off as 'health foods' could, in fact, be costing you your health. It's easy to be misled with labels such as 'high fiber', and 'natural'. In reality, many so called 'healthy' foods contain high levels of fat, sugar and salt. Reading the ingredient list and nutrition facts column could help you choose the right items. Here's a round up of the things you consider good that may actually be bad:

Honey
You think honey is healthier and more natural than sugar? You are wrong. Both contain similarly high levels of glucose. Because honey is denser, one tablespoon actually contains more calories than the same sized spoonful of granulated sugar. Eat too much honey and you'll gain just as much weight as you will gorging on other sweet stuff.

Low-fat salad dressing
Scientists at Iowa State University, US, have found that low-fat dressing cancels out the goodness in salad. Conversely, using olive oil, or a little butter, boosted vitamin intake because fat helps your body absorb nutrients from vegetables more efficiently.

Breakfast cereals
Studies show that people who eat cereal for breakfast tend to be slimmer than those who don't — but only if they're opting for a healthy brand. Choose the wrong box and you may as well start your day with a slice of cake, as some cereals are high in sugar and fat. The main ones to watch out for are your flavoured, chocolate and sugar-coated or frosted kids' ones. So always read the label. Not that you need to skip the cereal aisle altogether — experts agree that tucking into a bowl of porridge or any other wholegrain cereal is actually healthy. Naturally low in calories and high in fibre, these will help keep you fuller for longer and ward off midmorning snacking.

Skimmed milk
Although guzzling whole milk has been demonised as a health no-no in recent years, research shows that it could be a better choice than its skimmed counterpart.

Whole milk only contains around 4 per cent fat per 100ml as opposed to the 20 per cent plus deemed to be in the 'high fat' category. Skimmed milk contains 0.1 per cent fat. So switching from whole to skimmed milk won't make a huge difference.

Skimmed milk is less nutritious because cream contains fatsoluble vitamins A, D, E and K. Research reveals that full-fat milk boosts metabolism and help you burn more calories, while also lowering the risk of heart disease.

Raw vegetables
Cooking is believed to kill the vitamins and minerals, but studies have found the opposite. While cooking may destroy some (but not all) vitamin C, the process boosts the uptake of disease-fighting nutrients — antioxidants. A 2008 study found that vegetables such as carrots, spinach, mushrooms, asparagus, cabbage and peppers supply more antioxidants when cooked than when eaten raw. This is because cooking breaks down vegetables' thick cell walls, making it easier for the body to absorb the nutrients they contain. Steaming is best, then gentle boiling. Frying preserves the least vitamins and minerals.

Diet drinks
They seem like a straightforward way for soft drink lovers to cut calories but experts think diet drinks could actually scupper weight loss. While the artificial sweeteners in such drinks can convince the taste buds they're consuming sugar, the brain can't be tricked so easily. When it's denied the calories it's expecting, your body goes on a calorie hunt, making you feel hungry and eat more. Which is why consuming diet drinks can make people more likely to pile on weight, than reduce it.

Microsoft adds Mac-like trackpad gestures to Windows 10


Microsoft adds Mac-like trackpad gestures to Windows 10



Microsoft adds Mac-like trackpad gestures to Windows 10
Microsoft is about to level the playing field with new Windows 10 gestures that improve desktop navigation.

Ever wish your Windows trackpad could perform the same shortcut gestures as the ones your colleagues perform on their Macs? Microsoft is about to level the playing field with new Windows 10 gestures that improve desktop navigation.

New gestures include three-finger swipes that control how you view content. A downward swipe will take you back to the desktop from any window you're working within. A swipe left or right lets you scroll through apps, and an upward swipe will bring you to the Windows 10 task view.

Windows 10 users will also gain access to improved Snap controls for multi-monitor displays. The improved Snap functionality will enable you to swipe three fingers upward and to the inside edge of your multi-screen setup to resize app windows.

Windows 10 features

The new swipe features, which have yet to be rolled out, are just a few of the many upgrades Microsoft made to its Windows operating system.

New features like, improved Windows Explorer, universal apps and a revamped start menu are among the improvements we noticed comparing Windows 8 to Windows 10.







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Facebook's $21.8 billion acquisition lost $138 million last year


Facebook's $21.8 billion acquisition lost $138 million last year



Facebook's $21.8 billion acquisition lost $138 million last year
WhatsApp reported a meager $10.2 million in revenue last year, according to a filing with the Securities and Exchange Commission.

There was never any doubt that Facebook's acquisition of WhatsApp — now valued at $21.8 billion — was about gaining users before profits. And still, a new regulatory filing lays bare the profound unprofitability of the messaging service for which Facebook traded a full tenth of its market value.

WhatsApp reported a meager $10.2 million in revenue last year, according to a filing with the Securities and Exchange Commission. The money presumably came from charging some users $1 a year to use the mobile application, which lets users share text messages and images, since WhatsApp does not allow advertising.

To generate that revenue, WhatsApp spent heavily across the board. Research and development at the startup, which employed just 55 people at the time it was sold, totaled $77 million, a figure that includes some salaries. General and administrative costs amounted to $18.6 million. In total, WhatsApp spent about $149 million last year, resulting in a net loss of $138 million. That far exceeds the net loss reported in 2012, a relatively modest $55 million.

For this, Facebook offered $4 billion in cash and $12 billion in stock, with the company's founders eligible for an additional $3 billion in restricted stock. But as Facebook's own stock has continued to rise, so has the value of the deal. The final tally came in at $21.8 billion.

Of course, Facebook can afford to spend lavishly. Since announcing its acquisition of WhatsApp, Facebook stock has risen 20%, giving it a market value of $208 billion. Investors appear unfazed by founder Mark Zuckerberg's willingness to make huge bets on money-losing companies, instead trusting Silicon Valley logic over conventional measures of corporate worth.

And acquiring WhatsApp was never about making money for Facebook, at least not yet. Instead, Zuckerberg was enticed by the company's swift accumulation of 450 million users at the time of purchase. "Services in the world that have 1 billion people using them are all incredibly valuable," Zuckerberg said on a conference call at the time of the deal, anticipating further growth.

WhatsApp's audience may indeed be valuable to Zuckerberg. But at this rate, it will take a couple of millennia for the company to make back its purchase price. Using one common measure by which deals are assessed, Facebook may have set a new record of sorts. Based on the data in the new filing, Zuckerberg's company paid about 2,000 times annual revenues for WhatsApp.







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Bangalore startup iViz acquired by US company


Bangalore startup iViz acquired by US company



Bangalore startup iViz acquired by US company

BANGALORE/NEW DELHI: US-based software security firm Cigital has acquired Bangalore-based iViz Security. The companies did not disclose the size of the transaction.

Venture capital firm IDG Ventures-backed iViz Security is a provider of cloud-based application security testing. "iViz has been growing steadily," said co-founder Bikash Barai. "We grew by 57% last year and we achieved cash flow breakeven in late 2012. However, in order to realize our vision of being one of the top three players in our segment, we needed to grow at a much faster pace. Cigital has complementary market reach and technologies that can help iViz to realize its dream," he said.

IITians Barai and Nilanjan De founded the company in 2006. It's now a 60-member team, providing on-demand scheduling of tests with a comprehensive analytics dashboard to view test results and gauge each organization's security posture.

Post the acquisition, iViz will become a wholly-owned subsidiary of Cigital. Barai will continue as its CEO and he will join the Cigital Board, while De will drive technology development. iViz has around 500 customers including ING, Flipkart and NSDL, with 70% of revenues coming from the US and Europe.







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Microsoft Office 365 users to get free, unlimited cloud storage


Microsoft Office 365 users to get free, unlimited cloud storage



Microsoft Office 365 users to get free, unlimited cloud storage
Microsoft will now offer unlimited storage for OneDrive and OneDrive for business users that subscribe to Office 365.

Office 365 users will never have to worry about storage limits again. Microsoft will now offer unlimited storage for OneDrive and OneDrive for business users that subscribe to Office 365.

Microsoft will begin rolling out the limitless cloud storage option to all Office 365 Home, Personal, and University customers starting today. You can register to be put on a waiting list as the new option rolls out to the mass market during the next several months.

This is a major coup for Windows and Lumia phone users. Now, you can snap as many photographs as you like, upload them to OneDrive and never have to worry about running out of space.

The competition

iCloud users receive 5GB of free storage, up to 20GB of storage space for $0.99 per month, and 1TB of space for $19.99 per month. To put that into perspective, you can hold about 2,325 iPhone pics in your iCloud storage if you store nothing else. After that you'll have to pay a buck a month.

Google offers 15GB of free storage or approximately 6,975 photos. 100GB of Google storage will run you $1.99 and 1TB of storage will cost $9.99.

Of course, all of this free storage requires a subscription to Office 365, which isn't free. Office 365 business plans start at $5 per month. Office 365 for personal use starts at $6.99 per month.

The tea leaves

Microsoft has been steadily lowering cloud storage prices for the past year.

In June, it increased OneDrive storage plans from 7GB to 15GB. In addition, all versions of Office 365 were given 1TB of OneDrive storage per user for no additional cost.

Last month, OneDrive began supporting the uploading of files up to 10GB from Windows and Mac desktop apps. This brought the service up to Dropbox's industry leading capacity and surpassed Google Drive's 5GB upload limit.







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