Why is Paytm India's Top Startup?

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Paytm was launched in 2010 as an Indian start up. The original service of Paytm was to help users to make their bill payments and recharge mobile phones, while earning reward point. In this post we will see the reason why Paytm is considerd the top indian startup and get more details about this startup. What is Paytm? Paytm was founded by Vijay Shekhar Sharma, in Noida with an initial investment of $2 million. Paytm's parent company One97 Communications which is also owned by Vijay Shekhar Sharma was started in 2000 and operates into multiple fields. Who owns Paytm? Paytm has been backed by Jack Maa's Alibaba and Ratan Tata of the infamous TATA Group. Although partially owned by Chinese company Alibaba, Paytm remains an Indian company with majority of stake holders being Indians (primarily Ratan Tata and Vijay Shekhar Sharma himself.  What got Paytm the required boost? Paytm added a lot of features in 2013 and moved from a mobile and DTH recharge service to an online payment pl
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Re-Implementing Jugaad at 3M

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Faced with the adversity of declining revenue and brand reputation, George Buckley, who replaced McNerney as CEO in 2005, focused on reviving 3M’s risk-tolerant Jugaad culture. Buckley began rolling back Six Sigma initiatives and reinstituted the 15% programme, giving engineers more flexibility and freedom to pursue radical ideas without fear of retribution.


Buckley acknowledges, “Perhaps one of the mistakes that we made as a company – it’s one of the dangers of Six Sigma is that when you value the sameness more than you value creativity, I think you potentially undermine the heart and soul of a company like 3M.”

Buckley had to move fast as several of 3M’s products were becoming outmoded or increasingly commoditized. A great reality made 3M’s leadership realize that while the company was great at engineering products, it had to get better at designing them in an appealing fashion. Sensing an opportunity in this situation of adversity, 3M decided to broaden its traditional Jugaad mindset to include not only great technical performance but also great design.

To drive that transformation, 3M hired Mauro Porcini as head of global strategic design. The flamboyant and passionate 37-year-old Italian, who reports directly to the head of R&D for 3M’s Consumer & Office Business, runs a large team that is attempting to make both 3M’s existing and new products more visually appealing without sacrificing their technical performance.



Customers are no longer just buying products; they are seeking new experiences that delight them. They want to establish an emotional bond with the products they buy, even if it is an ordinary household item or office product.

Porcini says: “3M used to be known as a company of ‘maverick engineers’, now we also want to be famous for housing ‘maverick designers’.”Ajay Nanavati, Managing Director of 3M India, wants to increase the revenues by 40% in next 5 years by launching a slew of low-cost but high-quality products designed from scratch in India and targeted at India’s tire 2 cities and rural India.

3M seems to have found a sticky growth formula fit for the post-industrial economy. A survey conducted by Booz & Company with global executives, 3M ranked as the third most innovative firm in the world, right after Apple and Google.

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