Compilation of news from startup world :
AKTU to set up Lucknow chapter of Startup Accelerator India
Dr APJ Abdul Kalam Technical University (AKTU) will set up the Lucknow chapter of Startup Accelerator India (SAI) to promote startups and to incubate innovative ideas among students, its vice-chancellor Vinay Pathak announced on Tuesday. The decision was announced at the inaugural session of the two-day Dr APJ Abdul Kalam Memorial International Youth Conference jointly organised by Kalam Centre and AKTU in Lucknow, a day before the Missile Man’s first death anniversary on July 27. The university will sign a memorandum of understanding with Startup Accelerator India under Anand Govindaluri, managing director and chief executive of Singapore-based Govin Capital. Lucknow will be the third chapter of SAI and will fund startups in healthcare in general, big data and EdTech as well as social entrepreneurs. It is already supporting two such initiatives in Visakhapatnam and Pune.
Why there are so many me-too startups in India
Does the Indian startup universe have a clone problem? The short answer is, yes, it does. The more nuanced answer is it may not necessarily be a problem. Sure, it’s easy to get cynical about the umpteenth e-commerce portal with dollar signs in its eyes and pretty much the same old assortment on its site. It’s also too easy to point out that almost every much lauded startup today has a global forebear. Some of whom are even present and currently slugging it out in India.
Housing.com’s Nikhil Rungta explains why Indian tech startups fail as compared to their global counterparts
There was a time when flight tickets were a booklet and the only way to get them was through an agent or by travelling to the airport. Today, we do it from the comfort of our homes or offices, or even on the go, in fact I don’t even know too many people who use or know of an agent! So, how did we get here? The short answer to that question is – technology. However, this is not something new, through the ages, technology has been defined and redefined several times, there was a point when the steam engine was considered cutting edge technology! Today it is more subtle and sits in the palm of our hands. Yes, we are talking the technologies that are being cultivated to make our lives easier and to address several problems we face. All this is happening at a break-neck speed in the proverbial ‘garages’ across the world with the adoption of Valley or Valley-like culture. Uber, Airbnb, WhatsApp and Truecaller are some of the prime examples of what technology can achieve. While Truecaller with a handful of employees has created one of the largest global database of mobiles and telephones, WhatsApp with 55 employees got bought by Facebook for a whopping $19 billion. And on the other hand, Airbnb and Uber have become one of the world’s largest hospitality chains and transport operators respectively, without owning a single property or car!
Indian hyperlocal market decoded.
One of the hottest categories that emerged in the startup domain in last one year is Hyperlocal. The copious rise of Internet users, surge of payment options, increase in geo-location aware devices and increased demand for insta-delivery, have paved the way for hyperlocal businesses in India. While the term seems to have come to prominence in 2015, it’s not at all a new concept. A committee of citizens formed in a specific locality to conduct community activity, or keep them clean, is a hyperlocal concept. In Mumbai, Advance Local Management (ALM is initiated in 1998 with 658 ALMs in all 24 wards of Mumbai.) is a crude form of hyperlocal, so are the Municipalities and Panchayats examples of hyperlocal governance. The concept of Hyperlocal in business emerged later around 2010 when startups like Zomato, Ola, Meru realised the potential of on-demand service. Although the concept of hyperlocal service emerged with these startups, the recognition as a market came with entrepreneurs recognising the consumer goods and service market. Startups like Grofers, Faasos and TinyOwl received million dollar fundings in February 2015, this facilitated the rise of what we would call in 2016 a Hyperlocal Bubble. Indian Startup Ecosystem was already in a spree. Deals were high so was the ticket size, and an emerging niche sector like hyperlocal, became investor’s playground. H1 2015 to H2 2015 observed a phenomenal jump of almost 500% in Total Deal Value and 50% increment in Number of Deals. Around 81% of total hyperlocal startups that secured funding were funded in 2015, in addition to that 180 (around 50% of total number of hyperlocal startups in India) were launched.
Disrupt Asia, the first of its kind event held in the country in which the startup ecosystem of Sri Lanka
Disrupt Asia, the first of its kind event held in the country in which the startup ecosystem of Sri Lanka Asia, the first of its kind event held in the country in which the startup ecosystem of Sri Lanka will gather in one gracious occasion. This includes investors, mentors, Government agencies, media and of course the startups. The event will take place on the 28th of July 2016 at the Hilton Colombo The event was supported and organized by the ICT Agency of Sri Lanka in partnership with Edulink International Campus,Angel Labs,Crowd Island,Lankan Angel network,StartUp -Sri Lanka,Seven Media,Readme.Takas.lk,Arimac and Shoutout. The recent growth of the startup scene and entrepreneurial community in Sri Lanka is incredibly exciting. It means economic progress and more jobs available for Sri Lankans. Sri Lanka is now ranked 73rd in the world on the Human Development Index, higher than India at 135 and China at 91. Among the people of the island, this change has manifested itself in many different ways.
How care apps for the elderly could disrupt tech’s obsession with youth
When Alan’s wife, Toby, was diagnosed with Parkinson’s four years ago, the retired geophysicist turned to a not-for-profit in Palo Alto, California – called Avenidas Village – for guidance. Through Avenidas, Alan learned about several online platforms that connect individuals who need home care with workers who provide it. Now, once a week, Alan opens his Windows PC and logs onto the website of a company called Honor, which lets him summon a “CarePro” the way you would call an Uber. These “nice young women”, usually nursing students, look after Toby while Alan goes to attend a lecture or to rehearse with one of several chamber music groups, for which he plays violin.
eKincare, a Healthcare Tech Startup, Selected by Swiss Re for its First Ever Global Accelerator Program
Hyderabad based, eKincare, a healthcare tech start-up, today announced their selection into the first batch of InsurTech accelerator programme – a global fintech accelerator programme being conducted by Swiss Re, a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. As part of the accelerator programme, eKincare will have access to the global expertise and insights from Swiss Re, mentors from the industry, and technical enablement to work on challenging global insurance problems. At the end of sixteen weeks, eKincare will present their learnings and achievements to Swiss Re’s global leadership, ecosystem partners and potential investors. Voted among the World’s top 100 digital health companies by the prestigious journal of mHealth, eKincare is an end to end wellness platform that integrates medical records, healthcare services and leverages predictive analytics to design wellness initiatives & reduce healthcare costs. Three technology themes identified for the programme include, Internet of things (home, industrial, health and motor), Systems of engagement (innovative distribution channels and models, digital assistants/ Robo advisors etc.) and Smart analytics (application of deep learning and machine learning across insurance value chain). Kiran Kalakuntla, CEO, eKincare said, “It’s a proud moment for us at eKincare to have been chosen for the global accelerator programme by the prestigious, Swiss Re. This is a great platform for us to assess new ideas and solutions that addresses the global insurance challenges and enable us with technical capabilities to tackle the problem.”