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2021-08-24 17:11:45 #FactsNumbersStats Open / Comment

2021-08-24 16:00:07 ​#BusinessEducation

Idea building strategy

The strategic canvas is both a diagnostic tool and a strategy building tool. It reflects the current state of affairs in a known market space. This allows you to understand where competitors are investing, what are the characteristics of products that are competing in the industry, what are the service, delivery, and what competing offers customers are getting in the market.

Consider a diagram using the example of the US wine industry, in which seven key factors are distinguished:
• cost of a bottle of wine;
• noble type of packaging;
• indirect marketing;
• quality of wine aging;
• prestige of the winery and its history;
• richness and refinement of the taste of wine;
• assortment of wines

This is the basic structure of the US wine industry. Now let's move on to the vertical axis of the strategic canvas. A high indicator means that in the area of ​​this factor the company offers its customers more and makes larger investments in the development of this area. The value curve, the main component of the strategy canvas, is a graphical display of the relative performance of a company, taking into account the factors of competition in the industry.

In the case of the wine industry, by posting premium wine brands on the strategic canvas, we find that, from a market perspective, they all have the same strategies. They offer high prices and create a high level of competition.

Inexpensive wines also have nearly the same strategic profiles. The price of these wines is low, as is the supply for all key competitive factors. Moreover, the value curves for premium and inexpensive wines are almost the same, differing only in the height of the supply level.

To steer a company on a trajectory of strong profit growth in such an environment, it is not enough to match the competition. Extensive consumer research is also unlikely to pave the way. Consumers find it hard to imagine how an uncompetitive market space can be created.

To fundamentally change the strategic canvas of an industry, it is necessary to move from customers to non-customers in the industry. Why isn't someone interested in your product? What can you offer?

In the US wine industry, traditional wineries have focused on providing more prestige and quality wine for the money.

However, Australian winery Casella Wines has set a new challenge: how to create a fun unconventional wine that everyone can drink. What for? After examining the consumption of alternative drinks - beer, spirits and ready-made cocktails - which sold three times as much as wine in the United States, the firm found that the bulk of American adults considered wine "bullshit." It seemed to them something alien and pretentious. With this information, Casella Wines tackled the second basic kind of analysis: the four-action model.

We will present this model in the next article. Open / Comment

2021-08-23 23:09:22 For the next #PitchYourIdea webinar, our experts selected ideas from following users.

@Red4L, @justme_nolawi, @Adoniyas7635, @Sagar_010, @Boanergeme, @amantokee, @Babe_Saleh_Mahfoud, @VilasLandge, @Oyxmonkey, @ClickBee_admin

Please vote!

PS. Participation in our competition is possible only with Telegram username. Open / Comment

2021-08-23 20:34:43 ​#BusinessEducation

The difference between a winner and a loser is the strategy of forming an idea.

Value innovation is the optimal strategy. Instead of focusing all your efforts on fighting the competition, you make competition unnecessary. Research has shown that the difference between winners and losers is not state-of-the-art technology or “time to market”. Value innovation is achieved only when a company combines innovation with practicality, price and cost. If that fails, technology innovators and market pioneers lay eggs, which are then hatched by other companies.

Traditionally, it is believed that a company can either create great value for consumers at high costs, or create reasonable value but at low costs. The choice between differentiation and low costs is considered. The adherents of our strategy set the task of achieving both at the same time.

Consider Cirque du Soleil. During the company's debut, other circuses were engaged in comparing themselves to competitors and tweaking traditional circus programs. To do this, they tried to attract the most famous clowns and lion tamers. The result is an increase in costs that does not bring an increase in income.

Cirque du Soleil came up with the best solution to the problem - creating a more fun and engaging circus. He brought people circus fun, intellectual depth and treasures of theatrical artistry. Having broken the market boundaries of theater and circus, Cirque du Soleil attracted not only children, but also adults, theater lovers. This led to the creation of a new market space.

Previously, no one asked the question of the relevance of traditional views. The participation of animals in the performances generated more and more public discontent. The costs of keeping animals were also high. The whole attraction of the circus came down to the marquee, clowns and classic circus acts.

Cirque du Soleil has kept the clowns, but their humor has become more subtle and light. The tent has become comfortable. Acrobatic and other exciting performances began to play a lesser role. Cirque du Soleil introduced a storyline, and with it intellectual richness, artistic music and dance, a variety of productions. Similar to Broadway shows, every Cirque du Soleil show has a suitable musical accompaniment.

Cirque du Soleil has managed to create more sophisticated performances. Moreover, the performances became diverse, people started going to the circus more often. As a result, the best that is in the circus and in the theater was proposed, and all other elements are minimized or reduced to zero. By ditching many of the more expensive parts of the circus, the company has been able to dramatically reduce its costs. Cirque du Soleil has taken a strategic step by bringing its ticket prices closer to theatrical ones. The price of tickets was several times higher than the usual circus ones, but at the same time the prices turned out to be attractive for adult spectators. This is how we arrived at the value innovation strategy. People were willing to pay for the offered price.

Cost reduction occurs due to the elimination and reduction of the factors for which there is competition in a particular industry. Costs become even lower over time due to economies of scale due to high sales volumes generated by ideal value. Standard companies have a predefined industry structure, they compete within the established framework. The new circus, on the other hand, went beyond and created a space in which there are no competitors. Open / Comment

2021-08-23 13:26:34 ​#StartupNews

Indian AI startups raised $836.3 million in 2020, the largest funding outlay in the last seven years at a 9.7% year-on-year growth. The same year, Indian government increased the outlay for Digital India to $477 million to boost AI, IoT, big data, cybersecurity, machine learning and robotics. As a result, India’s AI ecosystem is seeing explosive growth with a lot of inventive startups entering the space.

Introducing the Top 10 Startups of 2021 in India.

Myelin Foundry
The startup helps transform industry outcomes by building artificial intelligence algorithms on video, voice and sensor data.
Myelin Foundry helps enterprises leverage the power of advanced neural compute in the shopfloor, automating decisions on reliability, availability and maintainability of plant equipment.

Nextbillion AI
The startup’s northstar is to build the world’s most easy-to-use, cost-effective and advanced hyperlocal AI solutions.
Nextbillion AI is a mapping platform for enterprises. Nextbillion AI helps enterprises address all the map-related requirements– last-mile optimisation, navigation, managing road restrictions, and finding the best-suited route for vehicles.

Wysa
The startup has developed an AI-powered chatbot that leverages evidence-based cognitive-behavioral techniques to make the user feel heard.
The solution has powered 100 million conversations. Regular users have shown a 40 percent improvement in self-reported symptoms of depression, the startup has claimed.

Emotix
The startup has developed a companion robot Miko to help parents keep their children occupied.
The startup leverages AI, robotics, and Internet of Things to identify moods, initiate conversations and learn from its surroundings to engage with a child. Miko does so by using computer vision to identify, remember and recollect known faces and objects.

Ziptrax Cleantech
The startup leverages AI-based engine and IoT enabled hardware to make lithium batteries last for up to 40 percent longer.
Ziptrax Cleantech has developed a digital platform to collect used batteries. Post collection, it puts the batteries through rigorous tests and quality checks. Then machine learning algorithms are used to segregate and regroup cells, and finally use AI to repurpose these discarded Li-ion batteries.

Yellow
It offers an omni-channel conversational AI tool to automate customer experiences for enterprises.
Yellow's client list includes the likes of Sephora, MG Motors, Bharat Petroleum, and FoodPanda. The startup’s chat and voice-based bots are available in 100-plus languages, and across 35-plus channels like web, Whatsapp, Instagram, in-app, IVR and contact center.

Qure
Qure is on a mission to use AI to make healthcare more accessible and affordable. It combines the strength of deep learning with clinical, scientific and regulatory knowledge to design real-world solutions.
The startup uses AI algorithms for medical imaging. It uses deep learning to analyse abnormalities on X-rays, CT Scans and MRIs. The startup’s products are powered by NVIDIA, AWS, Azure and Intel.

LogiNext
LogiNext is a transportation and automation startup. LogiNext offers logistics data analytics, warehouse management and asset tracking services. It’s AI-powered logistics management software tracks the workforce in real-time, enabling enterprises and businesses to plan and manage their dispatch schedule and delivery routes.

WotNot
WotNot is a B2C no-code chatbot platform and livechat solution. It allows enterprises to build and create powerful chatbots to engage visitors and enhance customer experience in real-time and across multiple channels. The startup helps enterprises solve business challenges including generating leads, booking appointments, and scaling customer support.

Ishitva Robotic Systems
The startup designs and builds waste sorting plants and solutions using Industry 4.0 technologies. It uses AI, ML and IoT to segregate waste and recover recyclables. Open / Comment

2021-08-22 21:03:57 #Successtory

Uber was created in 2009 as a concept and a side project, and now has a capitalization of $ 120 billion. How did a company without a single taxi take over the transportation world?

Travis Kalanick and Garrett Camp founded Uber in March 2009. In 2008, Camp lived in San Francisco, which was notorious for the disgusting quality of taxi services.

At that time, many Americans were already using iPhones, which have built-in GPS chips and accelerometers. As an engineer, Camp saw the power of smartphones as a way to make ordering a taxi comfortable. But then it remained a concept.

In December 2008, Garrett and Travis participated in the LeWeb digital conference in Paris, where, due to snowfall, they were unable to order a taxi. It was then that the friends started talking about the project. Kalanick suggested that we do without our own taxi company: it is enough to allow drivers to download the application and work on a free schedule as independent agents. The service could earn on a small percentage of the cost of travel. Kalanick's proposal brought the birth of Uber closer and became his first significant contribution to the development of the future startup.

Due to the abundance of main work, it was only in January 2010 that Camp and Kalanick arranged the first field trials. Everything went well - there were many failures, but overall the service worked.

On May 31, 2010, the official launch of the UberCab and UberCab Driver applications took place - on that day they appeared in the App Store. The very first customers who came from Camp, Kalanick and Graves' twitter quickly fell in love with the service and began to actively recommend it to their friends.

People were fascinated by the opportunity to call a representative car with one tap, and then monitor its approach on the map in real-time and not bother with cash.

Investors appreciated the rapidly growing popularity of UberCab. Already in October 2010, the service received $ 1.25 million. By the end of 2010, a version of the Uber application for Android was released. After that CEO started a public demonstration in Paris.

Then Uber unexpectedly headed for the mass market. The logic was simple: the more people can use the service, the more often drivers will install the application for themselves. This will ensure the growth of competition between taxi drivers, which, in turn, will reduce the cost of services and shorten the time of car delivery.

From that moment on, Uber's expansion into new markets began to resemble an epidemic. The service was launched in a number of countries in Europe, Asia and Africa (including India and Russia) and by the end of the summer of 2014 it was already operating in 205 cities.

By December 2014, the company's value soared to $ 40 billion, and the following year, Kalanick and Camp were included in the Forbes list of billionaires.

Competitors also emerged with popularity, but the company faced the most serious opposition in China - and lost it. Local startups Didi Dache and Kuaidi Dache merged into Didi Chuxing. To counter this regional giant, Uber had to spend up to $ 1 billion a year. The company gave up.

And although during the development of the company, they repeatedly tried to expel the company from the market, accusing it of theft, sexism and even murder, when an self-driving car hit a woman. But the company has always found a way out and improved.

In December 2018, Uber filed for an IPO. Against this background, Uber's valuation soared from $ 76 billion to $ 120 billion, which exceeds the capitalization of General Motors, Ford and Fiat Chrysler combined.

Today Uber is the largest startup in the United States and one of the most highly rated in the world. The company has 20 thousand employees and 3 million drivers cooperating with it. The service operates in more than 600 cities - with its help 15 million trips are made daily. Both Uber founders are still on its board of directors, with Garrett Camp's fortune estimated at $ 4.6 billion and Travis Kalanick at $ 5.8 billion. Open / Comment

2021-08-22 14:53:31 #BusinessEducation

Survivor bias. Why ask for advice from those who have failed?

An example of the "cost" of a survivor bias and successfully overcoming this mistake is the work of the Hungarian mathematician Abraham Wald, who worked for the American army during World War II.

The command assigned Wald the task of analyzing bullet holes and shrapnel on American planes and propose a booking method so that pilots and planes would not die.

It was impossible to apply full booking - the plane turned out to be too heavy. It was necessary either to book those places where the bullets hit, or those places where there was no damage. Wald's opponents suggested booking damaged places.

Wald said that aircraft with such damage were able to return, while aircraft with damage elsewhere could not. Wald's point of view prevailed. The planes were booked where the returned vehicles had no damage. As a result, the number of surviving aircraft increased significantly. According to some reports, Wald thus saved the lives of about 30% of American pilots.

Survivor bias distorts our perceptions in business too. We read the biographies of famous businessmen and admire the way they dealt with the challenges that arose along the way. Only these problems were solved. What about those who couldn't solve theirs?

These are the cases that should be dealt with for your startup. No one examines the mistakes of those who have failed. They are simply not taken into account, thrown out of statistics, and therefore mistakes are repeated over and over again, killing new startups.

To avoid cognitive bias, study this particular question. Find people you know who have not been able to build their business. Go through the financial statements of failed companies. Find out what may interfere with your case, and think about ways out of the situation in advance. Open / Comment

2021-08-22 11:00:53 #StartUpTrends

In what area to develop in order to get funding for sure?

We regularly hear about the fact that venture capital companies receive excellent funding and break all records. Over the past four years, the amount of investment has quadrupled. But in which areas are the largest investments being made? Let's consider.

AI and machine learning

In 2020, investments in this area amounted to $ 73 billion. The amount of data for processing is growing, and therefore smart mechanisms that can process it quickly and accurately are required. AI is used in many areas which generate large profits, and therefore investors are not stingy. AI can help automate vehicles, reduce energy consumption, ensure customer focus and safety.

Quantum computing

Some of the quantum companies have already managed to grow to a value above $ 1 billion in 2021. Among them are PsiQuantum, IonQ, ArQit. The creation of quantum computers is required to increase the speed of computation by several orders of magnitude. With such technologies, science, medicine and many other promising areas will reach a new level. The startup PsiQuantum alone received $ 450 million for the development of a quantum computer, the main task of which will be the development of new drugs and solving optimization problems.

Cybersecurity

In 2021, there are more than 36 billion devices in use that can be used for cyberattacks. Savings and company data are stored electronically, and therefore many large entrepreneurs are willing to invest millions in security. The success of many platforms depends on how well the client's capital is preserved. Precedents of attacks on which companies lose billions are systematically emerging. Because of this, cryptography and cyber resilience technologies are popular.

Biotechnology

The COVID-19 pandemic has shown how important it is for us to manufacture disease-fighting methods, which is why the demand for biotechnology has skyrocketed in 2020. Already this year, the first startups worth $ 10 billion appeared. Intellia, which developed the CRISPR / Cas-9 genome editing system, raised $ 690 million in July this year. The technology makes it possible to deal with the cure of cancer, genetic diseases and much more.

Foodtech and agrotech

75% of investments in this area were attracted by the so-called “meat in a test tube”. Investors are interested in the issue of producing alternative sources of protein. As you know, a healthy human existence without proteins is impossible, and therefore the topic will always be relevant. At the moment, the production of such meat is very expensive, but the development of technology can solve this issue. There are also projects that allow robotizing land cultivation and harvesting.

Energy

The world is concerned about the ecological situation of the planet, and therefore an active transition to alternative and renewable energy sources is underway. Plug Power, a company that develops the use of hydrogen as an energy source, has risen in price by 10 times. Hydrogen aircraft startup ZeroAvia has raised $ 13 million in funding.

Transport

The drone market reached $ 50 billion in 2020 and continues to grow. In the first half of 2021, startups raised $ 4 billion. The most promising areas are unmanned aerial vehicles, autonomous control systems, infrastructure development projects and the development of robots. Air taxi startup Joby Aviation has already received more than $ 700 million. The taxi is an electric helicopter with 6 propellers, which can reach speeds of up to 320 km / h and fly 240 km without recharging. Commercial transportation is planned for 2024. Open / Comment

2021-08-22 09:50:45 ​#FactsNumbersStats

Global Exit Trends Statistics

The startup market is growing rapidly. We have compiled exit statistics so that you can see for yourself. Open / Comment