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

The Art of Simplicity


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.

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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 understanding their needs and requirements. One of the outcomes of this practice of Nokia was the Nokia 1100. The cell phone came with a torch light because the ethographers saw that a lot of people used the bright screen as source of light. Nokia 1100 has sold 25 crore units around the planet, making it the best selling phone ever.

To create simple products that solve the purpose, large companies usually take their high end offerings and strip them down to the masses. This method usually fails, because the products are primarily designed to cater to a different set of people and then modified to be used by another set of people.

In October 2011 Aakash tablet was launched. It was promoted as ‘the world’s cheapest tablet’. For a cost of Rs. 3000 and a further subsidized cost of Rs. 1750 for students, Aakash came with a simplified user interface and preinstalled with educational material. Aakash clearly cannot match the computing power of the front running tablets like iPad, Nexus and Surface because it is meant for a different target audience.

Jugaad Innovators not only infuse simplicity in their products but in the way they interact with their customers too. From understanding needs of the consumers before designing the products to giving after sales services, Jugaad innovators keep it simple. We saw earlier how SELCO provided solar lighting to over 125,000 Indian village homes by relying on a vast network of grassroot entrepreneurs who became the distributors and service station providers.

Jugaad Innovations are simple but not simplistic. There is an important distinction between the two. Jugaad Innovators do not simplify problem or give a simple partial solution to the problem. Instead, Jugaad Innovators often embrace complexity but mask it with a simple user interface for the customers.
For instance, in Kenya, there runs a simple system of information distribution via SMS called Ushahidi. People can text message information about earthquakes, hurricanes and similar cataclysmic events to a centrally located server. The server then distributes the information to the masses.

Sounds simple and easy to use, but there is a complex that runs in the backend that compiles data from thousands of people, draws sense out of the messages and sends them back to the ones who would be benefited by the information.

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