India Startup Scenario
VCs Feed India’s Startups
RedHerring has an interesting article giving an overview of tech startups in India.
... the IITs, IIMs, and other Indian universities are trying to incubate brilliant ideas within their own campuses and turn them into successful commercial ventures.
...
The institutes already have a number of success stories to showcase: among them fledgling companies Midas Communications, AirTight Networks, Herald Logic, and Powai Labs. But these companies remain exceptions, not the rule. Like their counterparts in China early-stage companies in India are being drip-fed or starved altogether of cash.
Now read these stats:
In all of India—a country with lots of buzz around tech, the scope to absorb new technologies domestically, and a large talent pool of engineers—the report notes that only six startup-stage and 13 early-stage companies received any venture capital at all in 2004—and that totaled just $126 million. And nearly one in three of those investments went to Indo-U.S. companies like July Systems, inSilica, and Nevis Networks.
I think creating an Ecosystem is the most important part - an ecosystem that guides young lads take the path of entrepreneurship and simultaneously build valuable companies.
7 Comments:
Hi Sunil,
You are abssolutely right about the ecosystem part. The good thing is that I'm beginning to see some improvements.
You might want to check out my recent blog post on "new seed funds" being launched to address the funding gaps for tech startups
Hi
Inidian startup coverage sites are here
Thanks
Prashanth
http://cdprashanth.blogspot.com/2007/12/indian-startup-coverage.html
Like to share about my site www.progressiveidea.com going to be launched soon.
About ProgressiveIdea
ProgressiveIdea(www.progressiveidea.com) is launching a unique concept for consumers to share the profit of our company online. In return, we need your precious time and efforts to transform ProgressiveIdea into a money making and information source for all of us. ProgressiveIdea success entirely depends on the individuals who will become part of the next big revolution in e-commerce.
? Earn money on every advertisement you receive.
? Know about the latest offers and discounts in your town, state or country.
? Maximize your earnings by referring ProgressiveIdea to your friends.
Have you heard about an interesting new place online?
KyaYaar is the new, fun way to share reviews and opinions about everything.
Write a Review about your Fav place...
Discuss about anything and everything with your friends,
share your opinions and find what friends think about it...
A Place for your social gathering...
A Place for you to manage your friends and recommendation your friends have about places and products
OR
Express your creativity through poetry or short stories!
Check it out...
http://kyayaar.com/member/signup.html
Hi, I wanted to share about our new launch. Please drop in and let us know your valuable feedback.
LAUNCH NEWS
MyWebERA providing platform for uploading user generated contents on Painting, Animation & Online Game
Chennai, August 15, 2008 – Chennai based startup MyWebERA has launched three different websites for painters, animators and game developers, namely www.paintersera.com, www.animatorsera.com and www.gamersera.com. Build on three different themes, the three websites provide platform to individuals to upload their own created contents, which could be rated and commented by other users. The content owner even can sell it through MWE at their desired price. Users can also compete for the best creation of the month, when the creations get highly rated by users.
At MyWebERA, we believe that the world is moving towards a virtual era where people communicate, know each other, express talent and get popular over-night by virtue of their talent.
PaintersERA
At PaintersERA, painters across the globe are invited to Interact in their own world of Painting. PaintersERA offers users to post their own creation(s), compete for "Painting of the Month"; users can win attractive rewards and appreciations once their painting gets highly rated by other viewers. They can also View-Rate-Comment others' creations and can sell their paintings online, with their desired price. They can interact with painters across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
AnimatorsERA
At AnimatorsERA, animators across the globe are invited to interact in their own world of animation. AnimatorsERA offers users to post their own creation(s), compete for "Animation of the Month"; users can win attractive rewards and appreciations once their animation gets highly rated by other viewers. They can also View-Rate-Comment others' creations and can sell their animation work online, with their desired price. They can interact with animators across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
GamersERA
At GamersERA, gamers and game developers across the globe are invited to Interact in their own world of Gaming.
GamersERA offers users to post their own creation(s), compete for "Game of the Month"; users can win attractive rewards and appreciations once their game gets highly rated by other viewers. They can also View-
Rate-Comment others' creations and can sell their designed games online, with their desired price. They can interact with game developers and gamers across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
How to upload creations:
ü Register yourself with MyWebERA & get your login-id / password.
ü Create your own profile.
ü Upload your creations.
- In case of painting, if it is on paper, courier that to our address, we will scan and upload.
- If you are uploading "Other's" creation, please do mention that in the form while uploading.
- ENDS -
About MWE
"MyWebERA" is the unique destination for Painters, Animators, Gamers and Game Developers. First in its category, MWE (MyWebERA) provides a platform where EVERY ONE IS WELCOME. MyWebERA helps users to bring down people with same creative interest in a single place, irrespective of their location & diversities also provides a platform to showcase their talent to the world, even a small kid or anyone from distant village/town gets the change to showcase their talent. MWE also encourages users to communicate & know like-minded creators / innovators across the globe through blogging in the website. Users can View-Rate-Comment on others' works and get rewards for their own creation when it is highly rated by other users. You can learn more about MWE by visiting www.mywebera.com
For media inquiries, please mail at: sg@mywebera.com
Hi, I wanted to share about our new launch. Please drop in and let us know your valuable feedback.
LAUNCH NEWS
MyWebERA providing platform for uploading user generated contents on Painting, Animation & Online Game
Chennai, August 15, 2008 – Chennai based startup MyWebERA has launched three different websites for painters, animators and game developers, namely www.paintersera.com, www.animatorsera.com and www.gamersera.com. Build on three different themes, the three websites provide platform to individuals to upload their own created contents, which could be rated and commented by other users. The content owner even can sell it through MWE at their desired price. Users can also compete for the best creation of the month, when the creations get highly rated by users.
At MyWebERA, we believe that the world is moving towards a virtual era where people communicate, know each other, express talent and get popular over-night by virtue of their talent.
PaintersERA
At PaintersERA, painters across the globe are invited to Interact in their own world of Painting. PaintersERA offers users to post their own creation(s), compete for "Painting of the Month"; users can win attractive rewards and appreciations once their painting gets highly rated by other viewers. They can also View-Rate-Comment others' creations and can sell their paintings online, with their desired price. They can interact with painters across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
AnimatorsERA
At AnimatorsERA, animators across the globe are invited to interact in their own world of animation. AnimatorsERA offers users to post their own creation(s), compete for "Animation of the Month"; users can win attractive rewards and appreciations once their animation gets highly rated by other viewers. They can also View-Rate-Comment others' creations and can sell their animation work online, with their desired price. They can interact with animators across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
GamersERA
At GamersERA, gamers and game developers across the globe are invited to Interact in their own world of Gaming.
GamersERA offers users to post their own creation(s), compete for "Game of the Month"; users can win attractive rewards and appreciations once their game gets highly rated by other viewers. They can also View-
Rate-Comment others' creations and can sell their designed games online, with their desired price. They can interact with game developers and gamers across the globe & gain more exposure to their like-minded talents and can contribute to blogs, create community and share their imaginations.
How to upload creations:
ü Register yourself with MyWebERA & get your login-id / password.
ü Create your own profile.
ü Upload your creations.
- In case of painting, if it is on paper, courier that to our address, we will scan and upload.
- If you are uploading "Other's" creation, please do mention that in the form while uploading.
- ENDS -
About MWE
"MyWebERA" is the unique destination for Painters, Animators, Gamers and Game Developers. First in its category, MWE (MyWebERA) provides a platform where EVERY ONE IS WELCOME. MyWebERA helps users to bring down people with same creative interest in a single place, irrespective of their location & diversities also provides a platform to showcase their talent to the world, even a small kid or anyone from distant village/town gets the change to showcase their talent. MWE also encourages users to communicate & know like-minded creators / innovators across the globe through blogging in the website. Users can View-Rate-Comment on others' works and get rewards for their own creation when it is highly rated by other users. You can learn more about MWE by visiting www.mywebera.com
For media inquiries, please mail at: sg@mywebera.com
Innovative Recruitment methodologies - Introducing theHiringtool - India's first B2B Recruitment marketplace
Innovation is very important and considering the market downturn, companies in India and abroad are looking to innovate to be more efficient, re-organizing aesthetically and continuously finding ways to cut down costs, overheads and liabilities.
While the conventional models like Job Portals and placement vendors have proven to be effective, the Recruitment industry in India has matured over the years. There is always a constant need for small, medium and large corporates to continuously improvise on their talent acquisition sources since the conventional ones become more redundant, off-the-track and expensive.
Some organizations realized the folly of the conventional models and identified alternate sources like Campus Hiring, Buddy Referrals(Employee-referrals), Internal Job Rotations, however, they could only manage upto 30% of their hiring needs via these sources. Hence, in spite of the cost-advantage attached with these sources, they couldn’t prove to be the only sources that organizations could rely upon.
Bridging this gap, many “new-age” Web 2,0 interfaces cropped up in the last year or so.
These models claimed to combine the power of career networking (social networking portals like Orkut, Ryze and Facebook) and portals that allowed groups and forums based a large plethora of subjects ranging from J2EE to Project Management(like yahoo groups, google and msn groups etc.) These sources did manage to generate Passive candidates at certain quarters – skills, experience et al, but hardly replaced the conventional sources of recruitment.
The industry saw the advent of referral recruitment models. Again, these models have largely been unsuccessful in catching the pulse of the Indian recruitment industry. Many have failed to live upto the ideology and hype of referral recruitment. Some of them have actually been glorified RPO units in guise of Referral recruitment.
By far, the most popular career networking source for passive candidates - is LinkedIn which essentially is a US based model but has managed to catch a relatively small portion of the passive candidate market in India and other globally labor-oriented markets outside USA.
But owing to it’ adaptability and price-tag, it’s not the most effective tool that can replace the burgeoning talent crunch (of course, now the figures are down and out post-recession and US sub-prime crisis).
So, considering all of above, we can only gather as much as confidence that Conventional models still rule the roost as far as the Indian Recruitment Industry goes.
That leaves us to cite the mention of a free recruitment B2B marketplace that has had a fair amount of success in the USA and is largely untapped in the Indian context.
In India, this open B2B marketplace is introduced by two budding entrepreneurs with their venture - theHiringtool - an excellent eBusiness, web 2.0 interface that connects Employers with a large network of placement consultants.
theHiringtool has been launched in India, keeping in mind the Indian Recruitment & Staffing business, hence in it's concept, strategy and adaptability, it is a
Unique model.
How does the system work?
Step 1 - Employers post their jobs for free and attach a Placement Fee (Varies from 8.33% - 12.5% or more)
Step 2 - Recruiters search job listings they are keen to work on and get associated with Employer. theHiringtool introduces the consultant/s to the Employer via the system.
Step 3 - Candidates are submitted and reviewed by the employer
Step 4 - Shortlisted candidates are interviewed by the employer
Step 5 - The hire is made, and the recruiter gets paid via theHiringtool!
Value Adds -
For Employers -
-> Every candidate received is pre-screened by an experienced recruiter. These recruiters compete to fill jobs, resulting in faster fill rates and higher quality and Passive candidates.
->Registration is absolutely FREE.
->Free Access theHiringtool's nationwide network of professional recruiters. Hence, no geographical restraint in getting quality submissions even from vendors in different locations but with access to local database.
->Employers can Set standard fees and find willing Consultants who can work on their terms.
->They pay only for successful hires and receive 100% money back guarantee in the event of a candidate leaving services in a given time(varies from client to client)
->Using the theHiringtool Automated Interview Process is free. What's more no more multiple folders to be maintained on Desktop/Outlook. With touch of a button,
reports, analysis on candidate/vendor is made available via the system.
->The system helps track job orders and progress made on them. From shortlisting, to interviewing, to final joining and eventual financial transaction - everything is automated! In short, a complete FREE Vendor Management system.
For Consultants -
-> They get to Work with best clients in India.
-> No cold calling/ tedious business development follow-ups, simply search jobs, associate and start recruiting on theHiringtool!
-> theHiringtool handles all billing administration, Payment Collection for them. No need to do any paperwork like raising an Invoice, following up for payments etc.
theHiringtool takes care of all backend.
-> Free branding on theHiringtool, 100s of clients access theHiringtool who have access to a vendor’s company literature and expertise.
-> A complete Candidate Management system – Candidates can be recycled for same-type jobs. No repeat submissions.
FAQs
1) Who is their competition and what is their biggest strength compared to competition?
theHiringtool has no direct competition. In the e-recruitment space, there are job boards(naukri, monster etc) – employers and consultants go to jobboards to find candidates and spend time reviewing resumes and qualifying them as well as coordinating interviews; referral based recruiting (reffster,yellojobs, techtribe etc.)- these sites try to leverage the power of personal connecton to make hiring recommendations. The problem with this model is that people are not in the business of placing their friends plus the rewards that are offered are not enough for someone to make a living; and, there are social networking sites (linkedin).
Their strongest strength is the streamlined third party recruitment process which gives the employers access to the largest collection of placement consultant and for the consultants, they provide qualified job order and streamlined payment process on both ends.
2) What is their long term vision with Hiring Tool?
To create a talent trading platform like a stock exchange so all third party recruitment is being routed through theHiringTool
3) What is Hiring Tool's revenue model?
Their revenue model is a percentage split of the placement fees and subscription model providing with enterprise level management of the application.
4) What technologies do they use?
They are built using .net/asp and ms-sql and their Product is constantly evolving to suit the market needs - both from Employer and Vendor perspective.
5) Final message: Trying is Believing!
Rather than seeing TheHiringtool as Competition, Vendors and Employers should look at this unique model as a Consortium. A consortium that would enable the Vendors to create an effective marketplace and give way to an innovative recruitment model.
In the present scenario, each vendor has limited market share in terms of Employer acquisition, with TheHiringtool, vendors will increase this marketshare multifold!
Imagine, how much it can help Vendors to utilize and optimize their pool of candidates! Same candidates could be recycled for so many jobs across industry verticals on theHiringtool.
Similarly, for Employers this open marketplace has the potential for organizing not only their Vendor Management but also optimizing their Talent Acquisition process.
-Amit Anand
Head Marketing and Operations
theHiringtool
www.thehiringtool.com
Email - amit@thehiringtool.com
Post a Comment
<< Home