(iStart Rajasthan’s monthly roundup of the ecosystem)
Edition I | June 2019
JAIPUR: After raising pre-series a funding round from Innovana Thinklabs last December, Jaipur-based tyre management startup. Currently, the three-year-old startup that employs over 100 people is managing 50,000 tyres of 55 heavy commercial vehicle fleet owners in eight states offering retreading and refurbishing services to improve their longevity and increase second life. Read More..
The government of Rajasthan’s flagship programme iStart hosted Rajasthan Angel Investor Pitch 2019 where more than 50 select startups pitched to over 100 investors for funding. Hosted at Techno Hub, Angel Investor Pitch 2019 was a collective session where a group of investors sat through the day and addressed 15-20 startups each.Started by the Rajasthan government, iStart, incorporates a single-window platform for startups offering a host of relevant information and benefits to facilitate their entry into the ecosystem.Read More..
The Government of Rajasthan, as part of its flagship iStart Rajasthan programme to foster the startup ecosystem in the state, enabled over 50 startups to pitch to more than 100 investors representing 12 funds. The event took place in Jaipur yesterday at the government’s flagship incubation facility, the Bhamashah Techno Hub.Read More..
The Rajasthan government has disbursed funding to over 30 startups ranging from Rs 1.20 lakh to Rs 20 lakh as a part of the i-Start Rajasthan programme, says a statement released by the department of Information Technology and Communication. “We have incentives for start-ups at every stage of their entrepreneurial journey right from ideation to scaling. More than 30 startups have been made available funds ranging from Rs 1.20 lakh to 20 lakh under the recently launched programme,” said Abhay Kumar, principal secretary, department of Information Technology and Communication, Rajasthan government.Read More..
Indore-based assessment firm National Olympiad Foundation has acquired Jaipur-headquartered ed-tech startup Edurer Knowledge Labs Pvt. Ltd. National Olympiad co-founder and chief executive officer Sandesh Vyas said in a statement the acquisition was a strategic decision as his organisation was working on a learning technology platform for the K-12 educational segment. Vyas added that National Olympiad would also file for patents in the segment. Read More..
WhatsApp, the Facebook-owned messaging service, collaborated with Indian government’s investment promotion agency, Invest India, to invite startups from all over the country for a contest involving prize money of $250,000. Five startups — Medcords, Melzo, Javis, Gramophone and MinionLabs — outshined the rest winning a grant of $50,000 each. Read More..
It's 2019 and we need our bags to be as advanced as our smartphones to meet our evolving needs. Kota-based Rohan Sharma and Nishant Sharma are firm believers that bags need to have more going for them than durability, looks, and basic functionality. “A good bag means meeting requirements of a fast-paced life, which most working people have these days,” says Rohan Sharma, Co-founder and CEO of Zepcross, which makes multi-functional backpacks. Read More..
The Pink City-based Rajasthan Angel Innovators’ Network (RAIN) made its first exits from two startups - Capacita Connect and Hotify Technologies – pocketing returns at 3.5x and 4.5x, respectively. In its five years of journey, RAIN has made early stage investments in 15 startups. “The successful exits will perk up the startup ecosystem as it will not only improve investors’ appetite but will also encourage new ventures to seek seed capital,” said Mahavir Sharma, co-founder and chairman of RAIN. Although Sharma did not disclose the investments made in the two companies, he said RAIN’s ticket size investments range between Rs 10 lakh and 1 crore. Read More..
When e-commerce sector roared in India, one sector that immediately got prospered was the logistics space. As other startups rushed to provide efficient supply chain solutions, last-mile delivery, tracking of shipment, Jaipur based entrepreneur Tikam Jain focused on a thing which makes the whole logistics industry possible – The tyre. He found few problems with Tyre maintenance that needs to be solved, before starting this business he had 13 years of experience in transportation finance and logistics sectors, it gave him an edge over the competition. Tikam learned the economics of logistics and found that the major costs in this sector are associated with tyre maintenance. Then, he did a market study and observed that the problem of tyre maintenance is being addressed by poorly skilled people through non-standard procedures in the market. Tikam envisioned a business opportunity in the logistics sector and formed a company in 2016 with the name of ‘Fleeca’. Tikam says “I was thinking about the safety of the vehicles on Indian roads. The entire load of the vehicle and its movement is dependent on the tyres. I want to improve the condition of the tyres which are plying our goods, and its impact on our environment”. Fleeca developed various innovative solutions like tyre inspection, tyre as a service, etc. for the fleet owners. Being a techie he understood that to make this scalable he needs to incorporate the technology so they predict the upcoming problems in the tyre, they developed some hardware and software tools that use AI and IoT to embed in the tyre in order to capture live data. Meanwhile, they received incubation and funding support from iStart Rajasthan, during the incubation period startup got mentoring support from industry experts and it helped them in improving the Go-To-Market strategy. Fleeca has established 15 centers within the time span of 18 months where they provide all the tyre related services. The startup did numerous meetings with investors and pitched the business idea before closing a pre-series strategic investment with a Jaipur based investor. They utilized this investment to take a leap of growth with more than 60 people in a team with an eye to expand the business pan India
A session conducted by mentors to educate & encourage iStart founders to use Public Relations. Earlier this session was conducted only for Techno Hub Founder, Startups. Objectives of the session Better understanding of PR Strategies to implement PR Tools to use Immediate to-do's after the session Myth busting Queries answered
Knowledge session on “General financial management and compliance for startups” was conducted by banking experts from Kotak Mahindra Bank. This was done as a part of a newly signed partnership between DoIT&C and Kotak Mahindra Bank Limited. The session was conducted at Techno Hub with the following objectives: Management of finances for a startup Understanding financial compliances (taxation, funding compliance etc.) To ensure compliances in case of foreign payments or investments (critical for startups in the IM/EX business and IT services sector) Benefits of the Kotak Mahindra Startup bank account
Better Together Tuesday Mentors arrange a session for all iStart founders on Tuesday of the alternative months. Idea behind this is to build a cohesive startup ecosystem in Rajasthan. Through this session, founders interact, exchange ideas and learn from each other in order to collaborate in the future in their areas of expertise.
To introduce the iStart Rajasthan registered startups with the various digital marketing strategies, tools and techniques, this session on digital marketing strategies was conducted. The speakers, Arushi Goyal and Vilesh Jain represented their company MuskOwl, which is a global IT solution provider firm with its offices located in India, Hong Kong and New York. Apart from the case study activity on Swiggy and Zomato, various basic topics like Digital marketing objectives, Search engine optimization (SEO), Social media Optimization (SMO), Google Ads: Pay per click (PPC), Social media marketing (SMM), etc were discussed in the session. A total of 24 participants from different startups attended the session and the feedbacks received included a list of topics related to digital marketing for which the detailed sessions need to be conducted in future.
The session was conducted with the objective of introducing the iStart Rajasthan registered startups with the various agile tools and methodologies. The speaker, Swarn Singhvi (Certified Agile Coach with 10 years of proven experience and currently based out at Emirates, Dubai) discussed about the many advantages of Agile methodology for project management. It was communicated that Agile methods can help teams manage work more efficiently and do the work more effectively while delivering the highest quality product within the constraints of the budget. The second half of the session was a group activity where the startups built a Smart City Model. Around 27 participants from 14 different startups attended the session. A feedback survey was shared with the seminar attendees later.
The iStart team conducted a 20 minutes on ‘iStart Rajasthan Program Awareness’ session at the Business Conclave “UDHYAM – 19” on 28th of April 2019 at UCCI, organized by BNI (Business Network Internaitonal), Udaipur, where they had talks delivered by Eminent Speakers, conducted Master classes and Open 1-2-1 forums and also gave an opportunity to the BNI members to showcase their products and have that extra visibility among the business fraternity of BNI across India. The event was visited by approx. 300+ visitors in one single day and was announced and publicized largely across all regions of India and abroad. The objective of the session was to introduce and educate the members of BNI visiting from across the country and the other audiences about the iStart program and get connected to the budding entrepreneurs who are looking for any kind of support from the Government and business owners in the BNI network, who could be called for knowledge sharing or conducting workshops at iStart Nest Udaipur on various topics with regards to entrepreneurship. The various benefits and facilities provided by the program upon registration were discussed. The session covered various topics like importance of Qrate scorecard, Incubator Registration, VC / Investor Connect, Funding benefits, Rajasthan Stack, Direct Interaction of Startups with Government through the platform, Associated Partners and how iStart Rajasthan Program can be beneficial for the members of BNI.
iStart Nest With more than 80 registered and 13 incubated startups, iStart Nest, Kota has registered remarkable progress in last 15 months. These startups represent sectors like IT, F&B, Health, EdTech, Media, Lifestyle, Utility Services etc. With continuous support from iStart platform e.g. mentoring, funding etc. the incubated startups have covered their journey from Idea/Prototype to traction and generated employment for more than 150 locals of Kota in the last one year. Recent visit of principal secretary (DOIT&C) Mr. Abhay Kumar Singh and District Collector (Kota), Mr. Mukutanand Agarwal has boosted the morale of the startups as he also interacted with the budding entrepreneurs. His reassurance to provide more and better support to startups in the city made them quite confident.
With continuous support from iStart platform e.g. mentoring, funding etc. the incubated startups have covered their journey from Idea/Prototype to traction and generated employment for more than 150 locals of Kota in the last one year. Recent visit of principal secretary (DOIT&C) Mr. Abhay Kumar Singh and District Collector (Kota), Mr. Mukutanand Agarwal has boosted the morale of the startups as he also interacted with the budding entrepreneurs. His reassurance to provide more and better support to startups in the city made them quite confident.
iStart Rajasthan organized Pitch Clinic, an exclusive investor connect and mentoring program for the startups in New Delhi on 03 March 2019. Select startups of iStart Rajasthan went under a rigorous mentorship and facilitation to grow their businesses and also stabilize the same to scale further. This event aimed at making them aware of the fundability of their startup and the roadblocks to funding through a constructive feedback mechanism. The event saw participation from 5 angel investors and 11 founding teams from iStart program comprising of total 19 members across the teams.
The Department of Tourism, Government of Rajasthan, Ministry of Tourism, Government of India and Federation of Indian Chambers of Commerce and Industry (FICCI) organised The Great India Travel Bazaar in April 2019. iStart Rajasthan was invited to showcase the prowess and capabilities of it’s startups from tourism sector. The event received participation from over 280 foreign tour operators and 270 Indian Exhibitors. 8 tourism sector startups from iStart Rajasthan participated in the event and networked with number of buyers as well as larger tour operators from across the globel.
GensusEdutainers, with the support of iStart Rajasthan, organized their flagship national startup festival, “Startup Chaupal”, on the 11 of May 2019 at Jaipur. The fest offered startups, budding entrepreneurs, venture capitalists, incubators, investors and other stakeholders of the startup ecosystem with the opportunity to come together on a common platform, interact, collaborate and network. The event also comprised of a series of activities for the benefit of startups such aspanel discussions, speed dating sessions with investors, workshops and an event for startups to showcase their ideas.
The Global Centre for Entrepreneurship and Commerce and Neerja Modi School, in collaboration with iStart Rajasthan, organized the fourth edition of the ‘Jaipur Student Entrepreneurship Fest’ on 11 May 2019 at Jaipur. The event aimed at creating greater awareness about entrepreneurship amongst the student community of the country and comprised of interactive sessions with top industry leaders and entrepreneurship focused competitions such as B-Plan, B-Quiz, Ad-Mad etc.
Bulwark CyberX, an iStart Rajasthan registered startup, conducted a workshop on Cyber Security awareness at Techno Hub, Jaipur on 11 May 2019. The seminar aimed at helping startups and other participants gain an in-depth understanding about the different types of cyber threats and attacks faced by them and the various steps that ought to be taken up to protect online information, secure email and social media accounts, identify fake and phishing content and protect personal computers and mobile phones. Speakers at the event included Siddharth Gupta from Bulwark and cyber security expert lawyer Nisheeth Dixit who enthralled the audience by providing practical examples of the different issues discussed. The seminar witnessed participation from 21 startups, students and industrialists.
The Rural Energy Startup summit was conducted by Startup Oasis and CIIE - IIM Ahmedabad in partnership with Department of Science and Technology - Government of Rajasthan, iStart Rajasthan, Bask Research Foundation and AIC-JKLU Foundation, as culmination of the three month long Rural Energy Accelerator program. The summit offered key stakeholders of the energy domain a unique platform to discuss and conduct deliberations on the finest practices being followed and the challenges being faced in ensuring that rural India has access to clean energy and the steps that need to be undertaken to formulate an effective ecosystem that ensures last-mile distribution and harnessing of clean energy solutions through the startup fraternity. It witnessed participation of top decision makers from Government, academia and the corporate world and also offered a platform to startups for showcasing innovations on energy, meeting and deliberating with policymakers, networking and learning and sharing the best practices and industry needs. 3 startups under the iStart program working in the rural energy space, were given the opportunity to participate in this exclusive event.
iStart Rajasthan, in partnership with Confederation of Indian Industry (CII) and IIT Delhi Alumni Association, organized the Rajasthan Digitech Summit 2019 on 21 June 2019. The summit was conducted on the theme “Transforming Enterprises into Smart & Intelligent Businesses”, and focused upon how innovative technologies such as Internet of Things, Artificial Intelligence, Machine Learning, Nanotechnology, 5G, Robotics, Drones etc. could be leveraged by startups and other enterprises to bring about a fundamental transformation in their functioning. Over 25 startups from the iStart program were given the opportunity to participate in this unique gathering of top decision makers from the government, leading academicians, industry leaders and startup founders under one roof. Select startups under the iStart program were also allocated a shared booth space and 3 startups under the program – Fleeca India, Hyrefox Consultants and Medcords - set up a dedicated stall for exhibiting their products and services.
|Dcoder||Deep Tech||Selected in global accelerator Techstars and raised USD 120K in funding. Also shortlisted by investors while pitching at Techstars' Demo Day in Bangalore.|
|Hiretale||Professional Services (HR/Recruitment)||Secured hiring contract wistrong major firms, amounting to over INR 2 Lacs of monstrongly revenue.|
|InClick||SaaS (Social Media Analytics)||Has seen 200% growstrong in revenues and client- base|
|MedDelivery||Healstrongtech (B2B SCM)||Raised external angel investment from noted business personalities in Rajasstrongan. Has expanded business 3 times since raising stronge money. Has also successfully set up its own warehouse and operations.|
|Namaste Gaon||Consumer Tech (Digital Media)||Founders are college students who have now expanded strongeir regional news website to entire Udaipur. strongey started wistrong just two municipalities.|
|Ratnatraya||Professional Services (Virtual CA)||Has successfully expanded his client base from just Jaipur to Kolkata and Bangalore. Is also in stronge process of signing term sheet for angel investment wistrong a Dubai-based investor.|
|Rentroomi||Consumer Tech (Hospitality)||Successfully tied up wistrong major players in stronge hospitality industry, including Oyo Rooms and Nestaway.|
|Mr n Mrs PET||RetailsTech and FoodTech Accelerator||Mr n Mrs Pet is a curated marketplace of breeders and pet service providers, where breeders list pets like dogs, cats, and small pets. It connects genuine pet lovers to provide pet services like dog hostels, dog walking, dog training, and dog grooming services.|
|My Biz Catalyst||Marketing Automation||My Biz Catalyst provides marketing solutions- lead generation and target marketing with services like target market research, marketing automation, lead generation and sales enablement.|
|Medcords||Healthcare ecosystem on Cloud platform||WhatsApp awarded $50,000 to this startup|
|Eminent Dynamics||Consumer Tech (Connected Devices)||Secured contract wistrong Rajasstrongan Election commission for State elections and recently concluded national elections. Presently in talks for a white label solution for a renowned technology brand.|
TiE- Delhi NCR chapter and Biotechnology Industry Research Assistance Council (‘BIRAC’), in collaboration with iStart Rajasthan, organized an Entrepreneurship Conclave at the Techno Hub, Jaipur on 27 th February, 2019. The objective of the conclave was to inspire and empower young entrepreneurs with hands on knowledge and expertise to transform their entrepreneurial dreams into successful business ventures. The conclave comprised of highly enlightening sessions on entrepreneurship, the transitional journey from a university environment to the real world, the different mechanisms of startup funding and the legal compliances that entrepreneurs need to be aware of.
A session on Cyber Security in a Hyper Connected and Data Driven World was conducted by NASSCOM, in collaboration with iStart Rajasthan at Techno Hub, Jaipur. Through this highly informative and enriching session, participant startups were provided with an overview of the importance of cyber security in daily life, the various means through which cyber security attacks take place and the different mechanisms of mitigating any such threats in future.
A Chief Human Resource Officer session on Compensation trends for 2019 was conducted by NASSCOM, in collaboration with iStart Rajasthan at the Techno Hub, Jaipur on 24 May 2019. The session was undertaken by Sreemoyee Gupta, ITeS and Telecom industry leader, Mercer India. In the session, participant startups were provided with an in-depth insight on the future of work and the global workforce, the impact of these changes on employees and their rewards and the various mechanisms through which organizations could excel at managing their human capital during this period of rapid change.
To help startups craft the right investor pitch, iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 29 May 2019 at Techno Hub, Jaipur by Vishwas Shringi, a Carnegie Mellon and IIT Madras graduate, and CEO and Founder of Voylla. In the session, the speaker spoke about his experiences of raising capital and highlighted the importance of showcasing fund utilization plans and making the investor visualize his/her return on investment. The far-reaching consequences of conducting market research, consistently analyzing customer buying behavior and taking feedback from the customers was also stressed upon and underscored through practical examples from Voylla.
iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 30 May 2019 at Techno Hub, Jaipur by Anurag Jain to assist select startups to improve their pitch decks. Jain, is an IIT Delhi alumni and COO and Co-founder of GirnarSoft (CarDekho). In the session, Mr. Jain highlighted the significance of clearly showcasing the value proposition and traction achieved by a startup and also advised participant startups to conduct a detailed background research on the investor prior to the pitching event itself, to be able to pitch in a manner more relevant to the investor.
iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 30 May 2019 at Techno Hub, Jaipur by Ajit Sharma to help startups communicate their ideas more effectively to investors by effectively utilizing the different techniques of non-verbal communication. Sharma is an international public speaking and communications coach and a TEDx senior global ambassador in India since 2012, and is widely acknowledged in the industry for his human-centered engaging style and focus on authentic story-telling, compelling presentations and effective public speaking. The celebrity mentor, through examples, highlighted how the right body language – in the form of facial expressions, hand gestures, body postures, tone, etc. could be used to capture the attention of the investors and communicate the message more powerfully.
To help startups develop the right entrepreneurial mindset and to ensure that they remain motivated even during testing times, iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 30 May 2019 at Techno Hub, Jaipur by Dr. Jayshree Periwal. Dr. Periwal, is the Founder and Director of Jayshree Periwal Schools and is widely regarded as the woman responsible for revolutionizing the education system of Rajasthan. In the session, Dr. Periwal enthralled the audience by recounting her entrepreneurship journey of the past 15 years from teaching a single student in her garage to having over 8000 students in 6 different schools. She spoke about the importance of “thinking big”, no matter what others around you may say and the various strategies that a startup could adopt to ensure low levels of attrition and high level of dedication and commitment of the staff.
iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 31 May 2019 at Techno Hub, Jaipur by Kumar Anubhav to assist startups in refining their pitch decks and pitching strategies. Anubhav is a Delhi College of Engineering graduate and founder of NotOnMap, a Himachal Pradesh based sustainable tourism startup which recently received a 2,50,000 euros grant from the digital travel platform Booking.com. NotOnMap was the only startup from India, and one amongst only 10 sustainable tourism startups worldwide who received such scaling grants as part of the 2 million euros "2019 Booking Booster accelerator programme. In the session, Anubhav highlighted the importance of keeping the pitch deck simple, developing a story around the startup and ensuring that the attention of the investor is on the speaker at all times. To give the startups present an understanding of how a good pitch would look like, the speaker also gave a 6 minute presentation of NotOnMap’s award winning pitch at Booking.com’s accelerator program as well.
iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce and Industry, jointly organized a celebrity mentor session on 31 May 2019 at Techno Hub, Jaipur by Navdeep Shrivastava to help startups improve their customer and user experience. Shrivastava is a customer experience specialist having over six years of relevant experience with a number of global multi-nationals such as MTX Group Inc., Appirio, Vodafone etc. The session revolved around the four critical steps - understanding the customer, creating a customer journey map, developing an emotional connection with the customer and capturing feedback, required to be undertaken by a startup for creating a successful customer experience strategy.
Chief minister Ashok Gehlot on Saturday said that the state government will encourage job creation for youth, women professionals, sportspersons and new startups in the state budget. The chief minister also said that participation of every section of the society is important for inclusive development of state. “The state government would take suggestions from all sections to prepare a budget which would be comprehensive, balanced and inclusive.” Read More
WhatsApp India on Tuesday handed cheques for $50,000 each to the five winners of a grand startup challenge it had organised with Startup India, the government's flagship initiative. The five startups were selected from 10 firms that had been shortlisted to pitch to a jury of venture capitalists and entrepreneurs on Tuesday. These were selected based on their ability to solve real problems faced by Indians using technology and innovative thinking. Read More
Global software giant Microsoft reiterated its commitment to the startup ecosystem in India with the strengthening of its two flagship programmes – M12 and Microsoft for Startups. M12 is the venture capital arm of Microsoft, which was launched in 2016, and it made its presence in India in January this year, while Microsoft for Startups helps these young companies to become enterprise ready. Read More
From companies building palm-sized satellites to those aiming to propel satellites into space using cleaner fuels, a new wave of space technology startups are mushrooming in India, catching the attention of investors keen to join the space race. Bengaluru-based Bellatrix Aerospace, which wants to propel satellites into orbit using electric and non-toxic chemical thrusters, has raised $3 million from a group of investors, co-founder Yashas Karanam told Reuters. Read More
India is experiencing one of the best times ever, needed to boost the startup ecosystem further. Be it government’s initiatives, policy amendments, desired investments, availability of skilled talent pool, state of the art technology etc. everything seems to be playing its role quite efficiently. For the past ten years startups in India have created an ecosystem with 40,000 plus startups and more than $ 13.82 billion in funding (both equity and debt in 2018),which cannot be ignored. It is also noticeable that in recent times, growth of funding to startups has gone beyond the major hubs like Delhi/NCR, Bengaluru, Mumbai to the cities like Pune, Jaipur, Ahmedabad, Bhubaneshwar etc.
The year started on a positive note, with Jaipur-based CarDekho bringing $110 million up in a Series C round from existing investors Sequoia India, Hillhouse Capital, Alphabet's development speculation arm Capital G and Axis Bank. The venture esteems CarDekho at $400-500 million. CarDekho intends to utilize the fund to focus on its used-car segment and insurance and financing business.
Incorporated in 2008, CarDekho works as an online car search platform for both used and new vehicles. It also extends its services by offering expert reviews, price comparisons etc. This Jaipur based startup partners with car makers, dealers, financers, insurance companies etc.
(*data sources: Economics Times, Your Story, Inc42 & ENTRACKER)
Problem Backdrop: Optimizing Production Time
The manufacturing facility has 10 industrial stitching machines used to manufacturing adventure sports merchandises. The first order was of 1000 units of backpacks to be delivered in two batches over a period of 30 days. The total time required to complete the production was 800 hours, while they had only 240 man hours. Optimizing the gross processing and production time of setup and machine was required.
Optimize the operational flow of the manufacturing process by scheduling job work on earmarked parameters like:
Access available facility at the shop floor
Total jobs in system for streamlining
Setup operation time for each machine
Time of completing all job which was ascertained using Johnson’s Rule
The manufacturing process of unit job was broken step wise into identical processes to establish a routine work flow at each node; Development of PERT chart to analyze and represent the tasks involved and using the Critical Path Method (CPM) to identify the critical path and activities vital in completing the project in time.
Supervisor Capacity Building
Orientation workshop was undertaken for the supervisors to make them understand the PERT schedule and CPM critical activities for achieving time bound project delivery.
Just-in-Time inventory management system was setup to optimize capital involvement in raw material stocking.
iStart Nest team at Kota assigned as dedicated mentors to the startup as part of iStart Rajasthan program undertook the following initiatives to support startup in optimizing shop floor production process for improving operational efficiency:
Chalk out plan through PERT & CPM
JIT & Last In First Out (LIFO) inventory management
Ascertaining Average Order Quantity (AOQ) and Lead Time (LT) calculation for optimum supply chain.
Resultants & Impact:
Reduced machining time - 800 hours to 240 hours
Release of access capital - Stuck in over stock
Skills Building - Capacity building of manpower
Timely Delivery - Timely order delivery
Improved Efficiency - Standardized process improved overall job work scheduling mechanism.
In order to bridge the gap between startups seeking funds and investors, iStart Rajasthan, in collaboration with the Rajasthan chapter of PHD Chamber of Commerce & Industry, jointly organized the Rajasthan Angel Investor Pitch 2019 on 03 June at Techno Hub, Jaipur. The event was aimed at connecting startups registered under the iStart Rajasthan program with angel and High Net-worth Individual (HNI) investors from across the country.
The Rajasthan Angel Investor Pitch 2019 witnessed participation from over 100 investors from various organizations such as IvyCamp Ventures, Rajasthan Angel Innovators Network (RAIN), Metacube, NASSCOM, Rajasthan Venture Capital Fund (RVCF), Startup Oasis, Startup Buddy, Apex Bank, Axis Bank, HDFC Bank, Business Network International (BNI) etc. Over 165 startups applied for participating in the event, of which 50 startups were shortlisted for pitching in front of investors on the date of the event. To help the selected startups in refining their pitch-decks and investor pitches, iStart Rajasthan also conducted a celebrity mentor series prior to the pitching event on 03 June 2019 where a number of renowned entrepreneurs and industry leaders were invited to interact with the selected startups and guide them towards success in the event. The event was sponsored by Rajasthan Knowledge Corporation Limited (‘RKCL’) and was exclusively covered by Inc42 and YourStory as media and event partners respectively.
Post the pitching sessions, the iStart Rajasthan team organized a closing ceremony which was graced by Dr. Krishna Kant Pathak, Commissioner, Industries Department, Government of Rajasthan and K. Ganapathy Subramanian, CEO of RVCF. Overall, the event achieved a tremendous response from the investors as iStart Rajasthan received 107 expressions of interest from the investors for investing in the participating startups.