The Start-Up bubble across the world is getting bigger with each passing day. India is one of the biggest competitors in the race as well with booming tech start-ups. Apart from the big cities, the start-up trend has moved to smaller towns and innovative ideas are cropping up in small cities as well.
India has seen the addition of over a 1000 tech-startups in 2017 (As reported by NASSCOM). However, what exactly is a tech start-up? A Startup that uses tech, sells tech or employs tech for its functionality? Is it a company that develops hardware and/or software products? Most people confuse a tech company with an IT and/or Electronics company.
The definition of a tech start-up is rather simpler than that. A Technology Startup is one that uses innovative approaches to scientific principles to solve a problem. Any scientific product or service provider may be classified as a tech company.
India has seen the inception of 5,200 tech startups till date. This makes it one of the strongest startup ecosystems in the world. To be precise, the third largest. 2017 has been no stranger. Let’s delve into some of the most innovative tech startups that were started this year in India.
UnoCoin is India’s leading Bitcoin wallet. Bet you didn’t know that there even existed a Bitcoin Wallet. The founders have cashed in on the Bitcoin hype by building an easy to use wallet for the Bitcoin and Blockchain transactions. Users can buy, sell, store, use, send and accept Bitcoins. Kind of like Paytm for your Bitcoin. One of its most interesting and captivating features is the ‘Systematic Buying Plan.’ It allows the user to buy Bitcoins in a periodic fashion for as little as Rs 50. That too, without transaction fees. Now, something like that can make someone as broke as me invest in Bitcoins very easily.
It is a data science and artificial intelligence company that allows existing companies to become artificially intelligent. While the founding team of experts from Data Science is strong, the company left no stone unturned in providing artificially intelligent services to other businesses that are looking to become more autonomous. Euler Systems strengthens existing experts from industry with their virtual assistants. As of now, the company provides virtual trader assistants, virtual revenue managers, virtual stock selection assistants and more.
farMart acts as an aggregation platform for farming equipment. It is a technology platform that allows farmers to lend as well as borrow their farming equipment for that extra cash. Access to this wide variety of agricultural machinery can be requested through their mobile app or their call center. The company’s registered algorithm directs a request to the nearest available resource and then delivery and payment are taken care of by the company itself.
Flux Auto is building self-driving technology for trucks. Interestingly, this is state-of-the-art, cost-effective and externally-installable. Their propriety product uses a system of cameras and sensors to compete with existing LIDAR (Light Detection & Ranging) technology. Thus implementing a sensing system without the high costs. Subsequently, the tech promises to implement AI algorithms for better routing and better fuel efficiency. In addition to this, it will also help in predicting and preventing accidents.
A healthcare-technology amalgamation start-up, Innoflaps is dedicated to helping children with autism, ADHD, Down syndrome, hearing impairment, speech and language development, stammering and tinnitus. So, the company has developed four home-based medical devices that are portable, battery-operated and easy-to-use. These are Speechifi (speech and language development), Speakfluent (stammering), Tinnitus Relief (Tinnitus) and Group Speech Therapy School Solution. Without a doubt, commendable work!
A biotechnological venture, Miklens is aimed at replacing chemical based agricultural supplements. It manufactures bio-based agricultural products that are pest-specific. Importantly, these do not harm the other beneficial organisms present in the agricultural ecosystem. These products designed using microbes are eco-friendly as well as cost-effective. Therefore, it gives a tough competition to the chemical counterparts.
An elegant solution to customer care needs: Chatbot. So, Morph.ai is an artificial intelligence based B2B SaaS company (Software as a Service). It makes use of personalized chatbot as their product. Their platform allows businesses to create their own chatbots. Consequently, it allows for better customer interaction by personalized interaction, single follow-up channel and instant engagement. As a result of better customer interaction there are greater sales. More importantly, there is better customer retention and thus, profits.
This is a unique, non-invasive and cheap method for detection of breast cancer. Niramai uses it’s patented and custom software ‘Thermalytix’. This uses thermal image processing and machine learning algorithms to identify potential malignancies. This is a safe and portable option. Most importantly, the solution comes with its own hardware, software, training, and certification, as well as support and maintenance. Founded by two women, it is a leap forward in breast cancer diagnosis and treatment.
Now this one is super fun! Preksh Innovations have created an AR/VR based platform for retail online shopping. What that means is, their patented software enables users to virtually walk through shopping aisles and pick up all the items they need. Consequently, each item is tagged within the software. Thus, allowing the back-end of the software to create the inventory. Therefore, a shopping experience without having to step out of your home.
Ware is a dynamic platform for using warehouse storage spaces as a tap-able service. It aims to integrate and systemize the existing warehouse spaces within India that are un-ordered and require third party interaction. Hence, the platform will allow users to rent and to let their warehouses as per requirement. Therefore, revolutionising the concept of storage spaces from a commodity to a service.
While these are just a few of the interesting tech start-ups emerging in India, there are thousands more out there. However, this is just India. Globally, the number of ideas flooding the scene is mind-boggling, and so are the ideas! As long as human potential is at its peak, we might just be fortunate enough to witness great things.