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Showing posts from December, 2012

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

Simplicity Vs Complexity

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Advantages of simplicity to larger companies The demand for simplicity is growing in many parts of the world and there are reasons why a large firm may also benefit by being simple. Some of the benefits are mentioned below: Customers are demanding simplicity: Any company, be it a large MNC or a local store has to provide what the consumers demand. The customers are now demanding simple products that serve the purpose. 65 percent of Americans complain that they are overwhelmed with the technology driven complex products. Change in the lifestyle of consumers: More and more people around the world are downshifting their lifestyles. Some are doing it by choice some unwillingly. This change in lifestyle makes it important for the large companies to give simple solution to keep serving this audience. Over-engineered products cost a lot of R&D and time: In a time of scarcity, companies can no longer afford to invest lavishly in R&D to come up with complex products. S

The Art of Simplicity

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Jugaad Innovators are not in the business of coming up with cool features that appeal to customers’ wants, rather Jugaad innovators aim to make and deliver a good enough solution with limited functionality rather than one with a dazzling array of features. More pics here For instance, to address the high cost of electricity in Filipino slums, Illac Diaz invented the Isang Litrong Liwanag which literally means “A Liter of Light”. He made the eco-friendly solar bottle bulb. The solar bottle bulb (commonly known as SLB) is simply a recycled plastic bottle filled with bleach-treated water. The bottle is then fitted snugly into a hole in the corrugated roof of makeshift homes in shanty towns. A SLB produces more light than a conventional window might let in and it has no running cost or maintenance cost to it. Diaz’s invention is a simple invention which serves the purpose. Nokia employs ethographers who spends long period of time living with their target audience and understa

Keep it Simple

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This article brings us to the 4th Principle that is, Keep it simple. Dr. Sathya Jeganathan is a pediatrician in Chengalpattu Government Medical College, a rural hospital in South India. She was getting troubled by the low mortality rate of the infants in her hospital. Of each 1000 babies that were born, 39 died in the first four weeks of life. The case was similar across the entire country. Roughly 2.6 crore children were born each year. Out of which 12 lakh died during the 1st month of their birth. The solution was in the west in form of incubators. She tried to import few for her hospital, but the setup itself coasted her lot of money, had high maintenance cost and it required a well trained staff to operate. It was a solution, but for the rich west only. It could not be implemented in the rural India. Undeterred, she tried to do some Jugaad thinking. She decided to design her own incubator, one that was simple, inexpensive and easy to use. She teamed up with neonatal nurses an