ABHIGYATA-

Library Club

presents

Newsletter-

ABHIVYAKTI

Tough times never last, but tough people do. – Dr. Robert Schuller

1. Startups- Meaning

and Challenges

2.Abhivaad- Debate

competition

3.Popular releases of

2017 and best sellers of

2017

STARTUPS

In recent years, the Indian startup ecosystem has taken off and has matured. Driven by factors such as availability of funding, consolidation activities by a number of firms, evolving technology space and a burgeoning demand within the domestic market has led to the emergence of startups.

Currently a clear definition of a ‘Startup’ does not exist in the Indian context due to the subjectivity and complexity involved. Considering various parameters pertaining to any business such as the stage of their lifecycle, the amount and level of funding achieved, the amount of revenue generated, the area of operations, etc, some conceptual definitions are available in the public domain.

A startup is defined as a business that:

• Engages in development, production or distribution of new products, processes or services

• New and existence for not more than five years

• Revenue of up to INR 25 cr.

• Not formed through splitting or restructuring

• Formed through splitting or restructuring

A startup business is defined as an organisation: • Incorporated for three years or less • At a funding stage of Series B or less • An entrepreneurial venture/a partnership or a temporary business organisation

Challenges to startups:

Culture and Awareness

• The Indian culture has conditioned people to look down upon failure. For failures, opinions do come by but encouragement rarely so. Entrepreneurship is often about failing and learning from those failures and starting all over again. People need to start accepting failures and allow second chances • Most common questions for anyone to become an entrepreneur - What to do: problem related to creating a business idea, finding business opportunity or having a vision - Why to do: issues related to reward/incentive analysis, risk evaluation or any other benefits - How to do: issues related to legalities and requirements such as clearances, licenses, approvals required. Issues related to resource availability including finances, technology and manpower supply • Most people think that having a domain name, setting up a website, moving to social media are complex, costly and time consuming • People are conscious about risk and rewards, and India is referred to as a price sensitive market • People at large are unaware about how can they contribute to economic growth, generate employment, contribute to social development

Social Issues

• Mentorship/Guidance: Most founders of failed startups feel that the lack of proper guidance and mentorship is a major reason behind their failure. An important factor behind failures and slow growth of some organisations is the lack of quality mentorship, especially in terms of industry knowledge/support • Market structure: Indian markets are largely unorganised and fragmented that create a roadblock for a startupto succeed • Consumer behaviour: Behaviour of Indian consumer changes in every 30-50km that makes it really difficult for a startup to create business or market strategy for their products or services. Most startups generally get stuck in stagnancy and gradually shut down • Location: An important problem faced by startups is related to location of their business. India is a place of varied culture and taste and thus every product might not be welcomed equally in every region

Technology

• Technology infrastructure - Appropriate IT-infrastructure has become a need for Indian businesses given the growing number of consumers online - It is absolutely vital for new startups to train their employees for handling critical customer information such as that of credit card numbers and related data• Cyber security - Most startups have a B2B business model. This is where cyber risk may rise as they are not aware of potential risks that might exist for their startup business - No back-up plan to keep the startup company running when an accident destroys some key equipment in their data centre

Operational finance

• Most startups are self/family funded with limited workforce which makes it difficult to maintain records both financial and operational

• Flawed business models and lack of innovative revenue strategies have led to the failure of many startupsand they are forced to shut down operations

• Overcoming unnecessary business steps to manage business operations

Funding/Capital Deficiencies

• Capital and access to capital has been a perennial problem for startups• Government and private sector investors have set aside funds through investment channels but they are not

available for all forms of business. The biggest problem for such organisations has been to attract investors and gain their trust with regard to their mode of operations

• In the initial phase of operations, startups do not get funding from banks given no credit history of the firm. In addition, there is limited number of credit rating firms for small and medium sized enterprise

• Despite having raised good investments, startups struggle to survive the competition. Startups are unable to mitigate the gap between burn rate and revenue.

Cash flow management

• Effective cash management is an important factor to achieve objectives both short term and long term. Cash is still a preferred option for payments owing to the fact that electronic payment has not achieved complete penetration to Tier 2 and Tier 3 cities

• Gap between burn rate and revenue: Given rising competition from peers both from big as well as small, it becomes imperative for startups to scale up the business and require external funding for the sustainability/growth in the market

• Evolution on the basis of funding: Mega funding and mega announcements have become a thing of the past, post consolidation on a large scale across the sector over the alst few years. Both the investor and the entrepreneur are now more consciously focussing on innovation, capital efficiency and client/customer satisfaction, a view which is bound to impact the funding scenario hence-forth

Sustainability Issues

• The level of knowledge that business advisers have about ecological issues and their willingness to discuss this with their clients is important in creating business venture • Lack of information - provision of more information directly to business founders could help in the adoption of more sustainable business practices • Not aware of potential that might exist for their startup business • Role of public funding in promoting sustainable enterprises is often overlooked

Following is a list of startups to be watched for in 2017 for India:

▪ Faircent- Peer to Peer market lending place- By Rajat Gandhi and Vinay Mathews▪ Staqu- Al driven solution for retailers- By Atul Rai and Abhishek Sharma▪ Fresh to home – Online fish-meat delievery – By Shah Kadavil▪ ID FOODS-Packaged ready-to-cook idli/dosa batter, chappatis- By P C Musthafa, Samsudeen T K, Abdul Nazer, Jafar

T K & Noushad T A▪ FRESHMENU-Online food delivery- By Rashmi Daga▪ CAPITAL FLOAT- Digital financing platform for SMEs- By Gaurav Hinduja and Sashank Rishyasringa▪ UNBXD- Product discovery services for ecommerce companies- By Pavan Sondur and Prashant Kumar▪ HEALTHIFYME- Lifestyle tracking platform- By Tushar Vashisht, Mathew Cherian & Sachin Shenoy▪ FLYROBE- Designer clothing rental- By Pranay Surana, Shreya Mishra & Tushar Saxena▪ TRIPOTO- Online community for travellers to share stories and itineraries- By Anirudh Gupta and Michael Lyngdoh▪ PEELWORKS- Big data analytics for trade-By Nidhi Ramachandran and Sachin Chhabra▪ NOWFLOATS- Platform to get local businesses online- By Jasminder Singh Gulati, Nitin Jain, Ronak Kumar

Samantray & Neeraj Sabharwal▪ FAREYE- Logistics management software- By Gaurav Srivastava, Gautam Kumar, and Kushal Nahata▪ FINOMENA- Facilitates loans for young professionals- By Abhishek Garg and Riddhi Mittal▪ CANVASFLIP- Prototyping and testing platform- By Vipul Mishra and Manish Jha▪ PINE LABS- Payments solutions for credit/debit cards, loyalty programmes- By Lokvir Kapoor▪ MYRA- Online pharmacy- By Anirudh Coontoor and Faizan Aziz

ABHIVAAD- Debate

Competition

The competition followed PUBLIC FORUM format of debating which combines aspects of both policy debate and

Lincoln-Douglas debate. The competition received a healthy response from the student managers which made the

event a successful one.

The event was graced by Dr Naval Lawande and Dr Swati Vispute along with Mrs. Vaibhavi Zende mam . All the

participants presented their point of view regarding the topic and were sensitive towards the topics. Every participant

waswell versed with the topic and abide by the rules and format of the debate.

Article 21 of the Constitution of India states that “No person shall be deprived of his life or personal liberty except

according to procedure established by law”. After reading the Article 21, it has been interpreted that the term ‘life’

includes all those aspects of life which go to make a man’s life meaningful, complete and worth living.

The proverbial Hindi saying of even walls having ears has never rung truer. The principle of the world today can be: whatever you may do, the world will get to know before you realize, ask a certain Tiger Woods about it.

In the earlier times in India, the law would give protection only from physical dangers such as trespass from which the Right to Property emerged to secure his house and cattle. This was considered to be the Right to Life. As the ever changing common law grew to accommodate the problems faced by the people,it was realized that not only was physical security required, but also securityof the spiritual self as well as of his feelings, intellect was required. Now the Right to Life has expanded in its scope and comprises the rightto be let alone the right to liberty secures the exercise of extensive civil privileges; and the term “property” has grown to comprise every form ofpossession — intangible, as well as tangible.

The strategy adopted by the Supreme Court with a view to expand the ambit of Art. 21 and to imply certain right there from, has been to interpretArt.21 along with international charters on Human Rights.

The Court has implied the right of privacy from Art.21 by interpreting it in conformity with Art.12 of the Universal Declaration on Human Rights and Art.17 of the International Covenant on Civil and Political Rights, 1966. Both of these international documents provide for the right of privacy.

Right to privacy is not enumerated as a Fundamental Right in the Constitution of India. The scope of this right first came up for consideration in Kharak Singh’s Case which was concerned with the validity of certain regulations that permitted surveillance of suspects.

International Concepts of PrivacyArticle 12 of Universal Declaration of Human Rights (1948) states that “No one shall be subjected to arbitrary interference with his privacy,family, home or correspondence nor to attack upon his honour and reputation. Everyone has the right to protection of the lawagainst such interference or attacks.”

Article 17 of International Covenant of Civil and Political Rights (to which India is a party) states “No one shall be subjected toarbitrary or unlawful interference with his privacy, family, home and correspondence, nor to unlawful attacks on his honour and reputation”

Article 8 of European Convention on Human Rights states “Everyone has the right to respect for his private and family life, his home and his correspondence; there shall be no interference by a public authority except such as is in accordance with law and is necessary in a democratic society in the interests of national security, public safety or the economic well-being of the country, for the protection of health or morals or for the protection of the rights and freedoms of others.”

Winners of ABHIVAAD –Debate Competition 1st PRIZE: TARIQ AZIZ MBA 2017-192nd PRIZE: SUBHAM CHARAN MBA 2017-19

Popular Releases of 2017 and

Best Sellers of 2017

Popular Releases of 2017

❖ I do what I do- Raghuram Rajan❖ Godman to tycoon- Priyanka, Pathak-Narain❖ Sita – Amish❖ When I hit you- Meena Kandasamy❖ The trials of Apollo- Rick Riordan❖ Lone fox dancing- Ruskin Bond❖ Lord of shadows- Cassandra Clare❖ The Alterant- Deepak Karamungikar

Best Sellers of 2017

❖ Origin- Dan Brown❖ The Sun and her flowers- Rupi Kaur❖ Sleeping beauties- Owen King❖ Killing England: The brutal struggle for American Independence- Bill O’ Reilly❖ What happened- Hillary Rodham Clinton❖ A life beyond amazing: 9 decisions that will transform your life today- David Jeremiah❖ The art and sole of blade runner 2049- Tanya Lapointe❖ When breath becomes air- Paul Kalanithi❖ The Whistler- John Grisham❖ The last mile- David Baldacci❖ Crisis of character- Gary J. Bayrne

The Team-

Faculty Incharge- Ms Dipali More

Senior Coordinators-

Deepali Baunthiyal

Priyanka Kumari

Rajdeep Gill

Junior Coordinators-

Manisha Khemani

Dinesh Singh Udavat