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Business Wire India - Multimedia: Digest for September 28, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

YourStory's flagship event and India's premier startup conference TechSparks recently concluded its successful 14th edition in Bengaluru. Held across three days from September 21-23 at Taj Yeshwantpur, Bengaluru, it brought together India's brightest minds and visionary leaders who are turning the nation into a global tech powerhouse. More than 200 expert speakers and 5,000 attendees were part of the event.
 
"India is on a roll towards a Techade," Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar, said at the event.
 
Speaking to YourStory Founder and CEO Shradha Sharma, the MoS also announced a proposal by the government to launch a Digital India Fund to encourage domestic capital investment into Indian startups.
 
The minister also revealed that India has signed a Memoranda of Understanding with nine countries for access to the DPI developed indigenously as part of the India Stack. Twenty more countries have expressed interest in accessing the DPI through open source to digitise the lives of their citizens, he revealed.
 
"I have never seen this kind of appetite in the world to consume Indian tech and innovation—it is an inflection point for India. People are recognising what young Indians are capable of," the minister said.
 
Sameer Nigam, Founder and CEO of fintech major PhonePe, joined Chandrasekhar and Shradha Sharma, Founder and CEO of YourStory, to launch PhonePe's app store—Indus Appstore.
 
About 41 apps—including Dream11, ShareChat, CoinDCX, and Mamaearth—have already signed up with the Android app store.
 
"The annual fee for developers on the Indus OS app store will not be exploitative. I would rather go after the 97% Android market than the remaining iPhone market," Nigam explained.
 
After a power-packed keynote on the third day of TechSparks 2023, Priyank Kharge, Minister, IT, BT and Rural Development and Panchayat Raj, Government of Karnataka, shared a slew of initiatives that the state government has put in place to elevate its startup ecosystem at TechSparks.
 
Commenting on the semiconductor industry, Kharge said the next semiconductor revolution in Asia will take place in Karnataka, and not just Bengaluru.
 
The state of Karnataka has been propelling startups for years, he said. In December, the Karnataka cabinet approved a state startup policy for 2022-27, which aims to stimulate the growth of 25,000 startups by 2027.
 
In a candid chat, Alakh Pandey, Founder and CEO of PhysicsWallah, discussed what's in store for edtech after the present patch of turbulence. Deep-diving into the use of AI in edtech, Pandey said, "No one has really used AI at scale in edtech. It will be great if we can do that. We have the scale. We won't have to train AI on OpenAI—we will train it on PhysicsWallah's own datasets."
 
Seasoned investor Gopal Srinivasan, Chairman of TVS Capital Funds Ltd., discussed the much-talked-about funding winter in India, saying, "India is going to be far ahead of what people are predicting based on a single number called GDP; I am not worried about the funding winter."
 
Small Industries Development Bank of India (SIDBI) also proposed setting up a Rs 5,000 crore Fund of Funds for Startups (FFS). The FFS will invest in early-stage companies, especially in deeptech, said Sivasubramanian Ramann, Chairman and Managing Director of SIDBI.
 
"I do not see any reason why the bright minds of India should not come back from the US because there is a lot of capital getting raised here," he said in a conversation with the YourStory founder at TechSparks 2023.
 
In another shot in the arm for the Indian EV sector, Vamsi Gaddam, Founder of Atum and Atumobile, unveiled his solar-powered EV bike at TechSparks. Talking about his solar EV scooter at TechSparks 2023, Gaddam, who started out with creating solar rooftops–and beating Tesla to the patent for it, said 95% of the bike, including the battery and motor, has been 'Made in India'.
 
On the mainstage, Urban Company also relaunched the second version of its Native Water filter called M2. According to the company, the candles in the filter need to be changed only once in two years. The water filter is connected to an app that tracks the health of the candles, and a service request is automatically scheduled the moment the water quality goes below a certain standard.
 
India's largest startup-tech event, TechSparks 2023, ended with a bang with superstar entrepreneur Nithin Kamath, Founder and CEO of Zerodha and Rainmatter Fund, who spilled the beans about the passion that drives product and business building.
 
"Building a business takes a lot of time. You can use artificial means to grow a tree but a forest takes time—it takes persistence…You can build a good valuation quickly, but a value-driven business is a different game and needs a lot of hard work."
 
"I keep thinking about $70 billion that has flowed into Indian startups for funding. 90% of the value creation happened outside of India," Kamath said. "Can a country become rich inclusively if the success and the wealth of the country is being created elsewhere?" he quipped.
 
Last but not the least, YourStory unveiled the Tech30 list for 2023 - its annual list of young and promising startups with high potential to define the spirit of entrepreneurship in The Great Indian Techade.
 
Day Three of TechSparks also concluded the Tech30 Pitch Fest with Verdant Impact, VisualDub and Sivi emerging as the top three picks by the jury while NAAM App, Assert AI, and Verdant Impact emerged as the audience favourites.
Business Wire India

The world of e-commerce is witnessing a transformative wave, and at the forefront of this revolution stands Baapstore, the leading dropshipping platform for millions of online sellers. As more individuals and businesses venture into the digital marketplace, the age-old barriers to entry are crumbling, thanks to the innovative approach of dropshipping.

Understanding the Dropshipping Business Model

The traditional eCommerce model often requires significant investments in inventory, warehousing, and logistics. Assume that one wants to start an e-commerce business, he would need to have a minimum investment of INR 700,000 (7lacs) just to source the products and catalogue it. With India's current per capita national income standing at INR 172,000, this kind of capital makes it difficult for most of the population to start their business. This not only locks the capital but also presents risks in the form of unsold products and storage costs.

Enter dropshipping, a revolutionary business model that breaks these barriers.

In the dropshipping model, online sellers partner with dropship suppliers who stock the products. The sellers, in turn, list these products on their e-commerce platforms and market them to consumers. When a customer places an order, it's shipped directly from the dropship supplier to the customer's doorstep. This model eliminates the need for inventory and significantly reduces financial risk allowing sellers to focus on sales and profits.

Baapstore's 5G Dropshipping: A Game-Changer in Indian e-commerce

Baapstore's 5G Dropshipping Platform takes the dropshipping model to new heights with its five unbeatable guarantees:
 
  • Guarantee 1: Largest Collections of Dropshipping Products: Baapstore boasts an astonishing selection of over 150,000 products, encompassing 7000+ SKUs across 15+ diverse categories. It's the largest assortment of dropshipping products one can find anywhere.
  • Guarantee 2: 50% Lower Than Wholesale Price Even for Single Product: Baapstore promises that all their inventory are available at 50% lower than wholesale prices, even for single shipments. This gives freedom to set high margins for sellers. For example, a product that costs 800rs at retail price would be available with Baapstore at just merely 200 rs allowing sellers to have up to 400% profit margin.
  • Guarantee 3: Lowest Shipping Cost of Flat 49rs: Indian online sellers spend around 15% of total order value on shipping expenses. Baapstore offers a flat 49rs shipping fee irrespective of the order weight, value, or distance. Assume this, one can sell multiple products worth 20,000rs, weighing 15kgs and ship between Kashmir to Kanyakumari for a flat 49rs only. Baapstore challenges no other player- big or small, can operate at this cost.
  • Guarantee 4: Automated Websites: Baapstore doesn't stop at just dropshipping. They provide sellers with an advanced website that automates stock and order syncing, eliminating any and every kind of manual work. The websites come with mobile responsiveness which makes it easier for end customers to buy directly from their smartphones.
  • Guarantee 5: Strong Marketing Support: Baapstore's resellers can use some strong integrated marketing tools including affiliate marketing tool, along with a free digital marketing course, and one surprise element. Baapstore did not reveal the surprise element as it's strictly meant only for their resellers.
     
With these guarantees, Baapstore assures that their resellers do not need any other partner or need to spend on anything else since Baapstore provides everything required for a successful e-commerce business in-house.

Anybody Can Become An Online Seller with This Indian Innovation
 
  • Baapstore's 5G Dropshipping platform caters to people from various backgrounds like Digital Marketing, IT Sector, Non-IT employees, Housewives, and Students who are getting online setting up their dream business. This creates a positive environment for millions of first-generation entrepreneurs boosting the country's economy.
  • While 5G Dropshipping is purely an Indian idea, Baapstore is completely built in India and handled by Indian team without any foreign interference which makes it an original Indian innovation. This aligns well with our country's ambitious 'Make in India' policy.
     
In conclusion, the dropshipping revolution is in full swing, and Baapstore's 5G Dropshipping Platform is changing the entire e-commerce game. Dropship sellers make more profits than traditional sellers which makes many to adopt dropshipping method. The barriers to entry in e-commerce are totally destroyed, and the opportunities have never been greater.

Vintage Cars Make a Pit Stop at CRED's Office

Wednesday 27 September 2023 11:53 AM UTC+00
Business Wire India

Bengaluru, a city that continually shifts gears, has been buzzing at the sight of a fleet of vintage cars parked outside the headquarters of the fintech startup.

It's no secret that the city has a vibrant car culture, where smartphone cameras eagerly come to life at the mere sighting of a Porsche cruising down the street. One couldn't have missed the 1961 Jaguar E-type - a flat floor roadster with a 3.8L engine or the 1966 Mustang, a first-generation Mustang with a V8 engine, parked outside CRED's Indiranagar HQ. BMW Z4 & 650i, Mustang GTR, Lamborghini Gallardo and Porsche Panamera raced on the streets of Mumbai.
 
Netizens across Twitter and Instagram have begun speculating and connecting dots- there are stunning luxury cars racing in the streets of Mumbai and rustic, vintage cars parked outside CRED's Indiranagar office in Bengaluru; What exactly is up CRED's sleeve this time? Members are vying for these cars to be some rewards against coins- and the full story will be revealed on September 28th. For now, the mystery remains unsolved, and with each passing minute, the curiosity accelerates.
 
As people await for the mystery to unfold, the excitement of netizens can be best described through Founder Kunal Shah's tweet itself: Fast and Curious.
 
For more information, keep an eye out on the CRED app - https://cred.club/.
Business Wire India

D2C Mall, the Offline Marketplace for D2C Brands started by D2C Ecommerce, has entered into a strategic collaboration with Shiv Naresh, Trenz and Indigifts. Through this collaboration, D2C Mall aims to expand its offerings in the athleisure and gifts segment which includes tracksuits, sports equipment, footwear, activewear, and smart festival gifts. The young startup had recently acquired leading lifestyle electronics brand 'HiLife from Hungama'.
 
Shiv Naresh Announces Strategic Collaboration with D2C Mall to Accelerate in India's Thriving Athleisure Market
Shiv Naresh Sports, a prominent player in India's sportswear industry, is thrilled to unveil a strategic collaboration with D2C Mall, a leading e-commerce platform. This strategic partnership is poised to capitalize on the flourishing athleisure market in India, which has experienced remarkable growth in recent years, in line with global trends in fitness, wellness, and fashion. As urbanization continues to rise and sedentary lifestyles become more prevalent, there is a growing emphasis on health and fitness among consumers, making athleisure the perfect choice for comfortable and adaptable clothing. India's fitness and wellness industry has experienced significant growth, with more people participating in activities such as yoga, gym workouts, running, and various forms of exercise, further fueling the demand for athleisure products.
 
Commenting on this collaboration, Mr. Shiv Prakash Singh, Managing Director of Shiv Naresh Sports, stated, "This partnership with D2C Mall represents a strategic win-win move for Shiv Naresh, as it will attract more customers, bolster our market presence, and drive increased sales. We are excited to bring our high-quality athleisure products to a broader audience and continue to contribute to the growth of the athleisure market in India."
 
Shiv Naresh has recently launched TRENZ, a curated extraordinary range of footwear and apparel products. The collaboration will showcase the new Athleisure brand TRENZ footwear and apparel collections in D2C Mall stores. TRENZ is positioned to elevate the game in life and sports, and has sports style inspired range of apparel and footwear. This collaboration between Shiv Naresh Sports, TRENZ and D2C Mall aims to tap into the surging demand for athleisure in India, catering to the evolving preferences of consumers seeking fashion-forward, comfortable, and versatile clothing options.
 
Indigifts.in and D2C Mall Unite to Illuminate the INR 75,000 Crore Festival Gifting Market
In a monumental stride towards promoting the 'Made in India' ethos, Indigifts.in, the foremost indigenous gifting brand, has entered into a strategic alliance with D2C Mall, collectively setting their sights on the lucrative INR 75,000 Crore festival gifting market. Festival gifting captures a significant 30% of Indian Gifts Industry valued at INR 2,50,000 Crores, according to TechSCI Research. This collaboration promises to redefine the landscape of festival gifting in India and bolster the nation's commitment to fostering homegrown innovation.

Commenting on this transformative alliance, Mr. Nitin Jain, CEO of Indigifts.in, expressed his enthusiasm: "Indigifts.in operates through its e-commerce platform, where we serve the people of the new India, individuals who embody 'Swag Bhi, Sanskar Bhi!' We empower them to express themselves on various gifting occasions while staying rooted in their culture and traditions. This collaboration with D2C Mall is a strategic win-win, as it promises to attract a broader customer base, expand our brand's footprint, and elevate our sales to new heights. The partnership between Indigifts.in and D2C Mall is not merely a business venture; it is a testament to the commitment towards promoting the 'Made in India' spirit."
 
Indigifts.in, the torchbearer of India's gifting spirit, has carved a niche for itself with its extensive range of festival and emotion-based gifting products. Their diverse product lineup includes personalized gifts, home decor items, fashion accessories, custom-made creations, and much more. As these two titans of the gifting industry join forces, India can look forward to a brighter, more meaningful festival season, where every gift is not just a present but a reflection of the nation's rich heritage and innovation.
 
Commenting on the collaboration announcement, Mr. Manish Gupta, CEO and Founder, D2C Mall shared, "Shiv Naresh promises of delivering exceptional sports products at affordable prices aligns very well with D2C Ecommerce's vision of providing Aspirational products at Affordable prices. Indigifts.in offers a diverse array of gifting products, including personalized gifts, home decor items, fashion accessories, custom-made products, and more. Collaborating with Shiv Naresh, Trenz and Indigifts will be a strategic move as it will allow us to tap into each other's strengths and expand product offerings to our customer base."
 
The collaboration will be in line with "store-in-store" concept. A section of the D2C Mall stores will be exclusively dedicated to the Shiv Naresh, Trenz and Indigifts products. This allows customers to experience a wider range of products in one place. Joint marketing campaigns and promotions will be run promoting the D2C brands, and the D2C Mall stores.
 
D2C Ecommerce is expanding its reach and entering offline channels and is offering a Multi-D2C Brand Franchise Partnership Program - D2C Mall, that is designed to help aspiring entrepreneurs build a successful business in their own region. Franchise partners will have access to the proven business model, multi-category product bouquet to sell, celebrity content, expert training, and on-going support. Selected Franchise partners will get a chance to meet and greet with the celebrities, during the inauguration launch event of respective franchises.
Business Wire India

 
  • Broadcasting local sounds and ideas from around the world.
  • Moving music culture forward together.
 
Ballantine's Glassware and long-term partner Boiler Room continue their pledge to create a safer and more inclusive music culture through their global event series Boiler Room x Ballantine's Glassware True Music Studios. The platform is set to make its debut in India, landing in Gurgaon/Delhi NCR (28th – 29th September) and Mumbai (3rd October – 6th October) for a series of shows highlighting local artists at the forefront of the Indian music scene, in collaboration with iconic musicians Prabh Deep and Karan Kanchan.
 
Boiler Room x Ballantine's Glassware True Music Studios champions diversity and inclusivity in music through a series of events that bring together communities to showcase and celebrate local sounds, scenes, and cultures. Ballantine's Glassware True Music Studios arrived in India earlier this year, with an aim to recognize young artists across trending music genres, empower them to find their voice in the music industry through mentorship and workshops, and give them a platform to unleash their true potential. Further to its groundbreaking initiatives, the platform, in collaboration with Boiler Room, is set to celebrate the next wave of seminal talent emerging in India.
 
Delhi NCR (Gurgaon) – 28th – 29th September
 
True Music Studios will be landing in Delhi NCR (Gurgaon) for India's first Boiler Room x Ballantine's Glassware True Music Studios, in collaboration with Prabh Deep. Hailing from the capital, Prabh is an MC gifted with a unique voice that contains traces of the traditional Punjabi folk singers at the forefront of Delhi NCR's (Gurgaon) hip-hop scene. Over the course of two days, True Music Studios will showcase a run of events focused on the local sounds and scenes including:
 
'In Conversation With..' – Hosted by Mae Mariyam Thomas, the in-depth conversation will connect audiences with Delhi NCR's (Gurgaon) key players including collaborator Prabh Deep, and rap icon KR$NA.
 
'Party Broadcast' - Curated by our collaborator Prabh Deep, the party broadcast showcases the full spectrum of Indian club music, from cutting edge street chronicles of Prabh Deep, groundbreaking Indian bass music of Nucleya, dubplate specials of BFR Sound System and hotly tipped newcomers Reble, Nash and Sijya.
 
Mumbai – 3rd – 6th October
 
Following the events in Gurgaon (Delhi NCR), Boiler Room x Ballantine's Glassware True Music Studios will be heading to Mumbai with Karan Kanchan, a trap and bass music producer heavily inspired by Japanese classical music. Through his work with seminal Mumbai rap collective Gully Gang, and his own Neckwreck Crew events, Kanchan has established his place as one of the most in-demand producers in the Indian scene. Across four days, True Music Studios will showcase a series of events including:
 
'In Conversation With..'– Hosted by Mae Mariyam Thomas joining us again in Mumbai for an in-depth conversation which will connect audiences with some of the artists at the forefront of Mumbai's music industry including collaborator Karan Kanchan, pop maestro Ritviz, and singer-songwriter Ankur Tiwari.
 
'Party Broadcast' - Curated by our collaborator Karan Kanchan, the party broadcast will bring together the cutting-edge artists at the heart of Mumbai's music scene for a high energy show including Karan Kanchan & Friends, Seedhe Maut, Kayan, Swadesi, BamBoy, Insowmya, and OG Shez.
 
Community Party – Teaming up with Krunk, India's longest-running events agency and a central pillar of Mumbai nightlife, the Community Party will showcase a collection of Mumbai's stars of tomorrow including Kiss Nuka, Alo Wala, Dreamstates, Rasa, Rafiki, Benkii, Chrms, OX7GEN and Noni-Mouse.
 
Tom Elton, Head of Culture and Partnerships at Ballantine's says, "Now nine years into our partnership with Boiler Room, we're committed to continuing our journey through True Music Studios, a platform designed to move local music culture forward. Our motto 'a friend to all humankind' has been on the crest of every bottle for over 100 years; True Music's home has, and always will be, the metaphorical dancefloor – and we're striving to make sure that is place where everyone feels part of the experience."
 
Kartik Mohindra, Chief Marketing Officer, Pernod Ricard India said, "I am thrilled to announce that Ballantine's Glassware True Music Studios' groundbreaking partnership with Boiler Room is finally making its debut in India. This collaboration furthers our commitment to push boundaries, celebrate the power of self-expression through music and inspire the youth to stay true to themselves. Together with Boiler Room, we aim to create unforgettable moments that resonate with the vibrant spirit of India, where tradition meets innovation. We can't wait to share this unique experience with the Indian audience."
 
Ballantine's has been a long-time champion of underrepresented music communities, celebrating local talent through its True Music platform and partnership with Boiler Room. Over the last nine years, we have supported over 800 artists, across 100+ events, in 20+ countries.
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