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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What is Jugaad?

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A potter named Mansukh Prajapati who stays in a remote village called Ramkrishna Nagar of Kutch, Gujarat has transformed his weaknesses into an invention. He stays in a desert city which does not have enough electricity and a certain deficit of water. Using his years of experience of being a potter, Mr. Prajapati was able to make a refrigerator out of terracotta which does not require electricity and costs only Rs. 2000. It is called “Mitti Cool”. All it requires for Mitti Cool it to pour drinking water from the top and it keeps the water as well as the contents of the refrigerator cool.

After initial orders Prajapati started mass producing Mitti Cool. He taught local women how to make it and hired them to work in his factory. Mitti Cool is an idea born out of adverse circumstances, shows how a resilient mindset can transform scarcity into opportunity. Today Mitti Cool is used across the country and exported as well. Get more details on www.mitticool.in. Prajapati and his invention is the perfect example of Jugaad Innovation.

What is Jugaad?
Jugaad is a colloquial Hindi word that roughly translates as ‘an innovative fix’. An improvised solution born from ingenuity and cleverness. Jugaad is nothing but a way of thinking and acting in response to challenges. It is the art of indentifying an opportunity in the most adverse circumstances and resourcefully improvising solutions using simple means.

Rather than dismissing jugaad as the poor man’s approach to innovation, Indian companies like Future Group, Yes Bank, Tata Motors, Suzlon, etc. have tried to cultivate the Jugaad mindset among their workforce.

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