Artificial Intelligence- The next revolution

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Although Artificial Intelligence was there decades ago, this is only now that it has started gaining pace and is flourishing like anything. And no industry has remained untouched from the artificial intelligence. From one’s mobile, i.e. Siri, Cortana, to the E-class in students’ college/school, almost everything is working on AI. At present, AI is being used by the big business tycoons and some of the bigger platforms such as Facebook, Google, Microsoft, and IBM. In recent years, this field has gained much ground because of the ease with which AI can crunch vast amounts of unstructured and structured data and by the enhancements in software and hardware. One such Indian AI startup founded in 2016, is Artivatic Data Labs, which to make the most out of this opportunity established their startup and till now, has got funds amounting to a total of $350,000.

But it is also true that “with great position comes great responsibility”, so here also handling an AI startup is not at all a cake walk and there are some problems that people may come across while running their startup.

Some of the issues which may be faced by AI startups are:

  • firstly, the funding problem because of the use of cutting-edge technology a considerable amount of money will be required, so one of the best means to solve this problem is by crowdfunding.
  • The other problem can be regarding the technical know-how as in a country like India not everyone is an adept in AI, so it is hard to find such a person, so appointing an adept for this job is very important.
  • A wrong training to the AI can have a devastating effect as it may change the desired outcome. Thus, the AI should be provided with the best practice in the initial stages so that it can be more precise and accurate.

Experts and veterans believe that AI will bring about the next revolution after the industrial, computer and internet ones. There is an excellent opportunity in sectors such as automobiles and health care considering the doctor to patient ratio. So it is quite clear that with so much scope in the near future, there is a high profit in this sector as it will also reduce the labour cost.

By  Ishaan goyal

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HealthTech Startups – What, why, How?

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What are they?

These are companies that provide a wide range of services in the healthcare sector such as something as small as medicine delivery to something complex such as providing solutions to unhealthy lifestyles.

 

Why are they needed?

Indian healthcare sector is very disorganized and medical facilities are unevenly distributed, especially in rural areas. The national average ratio of doctors to patients is 1:1674 against the WHO norm of 1:1000, the cost of treatment varies from place to place; for example -average expenditure per hospitalization in 2014 ranged from Rs. 18,327 in Chandigarh to Rs. 32,503 in Goa. The low medical awareness and weak health infrastructure have created the need for such technology-based systems.

 

How are they faring in India?

The future of health tech is looking great as the Indian Healthcare Market is expected to be worth $280 billion by 2020, as per a Deloitte 2016 report. According to Sergio Pimenta, global head if industry manufacturing, agribusiness, and services at the World Bank Group institution, the International Finance Corporation are planning to invest in many startups in India. This health tech boom can revolutionize the quality of healthcare in India.

Some Prominent Startups:-

 

Lybrate

It allows users to choose and consult more than 90000+ verified doctors. Customers can have a one on one interaction with doctors. Patient information can easily be managed through the platform.

 

Medibox Technologies

It digitally enables pharmacies to place online bulk orders on medical suppliers. Additionally, manufacturers can carry out brand campaigns through launches, offers, and schemes.

 

Medika Bazaar

It is an online medical marketplace for healthcare needs. Consumers can compare prices, features of medical equipment and wellness products for purchase. There exists an option to buy refurbished equipment on the portal.

 

BookMEDS

The start-up is an online pharmacy where users can medicine delivered for free within four hours. Users can search according to product categories like orthopedic, homecare, Ayurvedic etc. At present, it works with 351 pharmacies. The medicines are dispensed only by the pharmacies that use their system.

 

– By Sashank  Bhargava

Why choose a Travel start-up?

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There are a lot of wanderlusts in the world and people are ready to pay a handsome amount of money for it. So it is apparent that the scope of travel startups is extensive and ever expanding, keeping in view the number of travellers and travel sites which are increasing day by day. And it has become more profitable in the last years because of the presence of active social media platforms and increase in per capita income. Oyo which was founded by Ritesh Aggrawal has now become the hub of travellers although it faced some funding problems in the initial years, in 2016, Japanese giant invested $90 million in it.

The paving stones

Some common problems which are being faced by these startups such as expansion, fierce competition, low-profit margins, geo-diversity etc. and these problems arise because of a lot of travellers and on the same time lot of travel startups offering the tour at competitive prices.

Every problem has a solution

  • Having a global presence can be the best way to counter the problem of expansion, which would make it easier to acquire and attract more customers.
  • Concerning the stiff competition, offering some special packages may help in defeating the close competitors.
  • Although there is a problem of low-profit-margin in this startup field, it can be countered by keeping the operational costs as low as possible by utilising technology and automation.
  • To not to fall behind and to combat lack of options, diversifying the available options by offering people more opportunities to explore will help in countering the problem of geo-diversity.
  • The technical backend has to be well maintained and updated.

Expand the profits

Firstly owning an advertising agency may help cut down the costs. Other ideas include having a workforce who specialise in creating the website, logo creation, providing the road maps, statistics, and accounting and also by establishing own flight search engines and more.  

Having these solutions at fingertips then the startup will be able to cope up with this competition which is prevailing in the travel industry. Keeping track of the trends using data aggregated internally and from the web as well, will result in improving the travel business as it will not get affected by the challenges.

 

By Ishaan goyal

Entrepreneur of the Month – Cher Wang

Every month, a new entrepreneur, a new inspiration

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The technological world has always been dominated by men. But one woman stood against all odds and emerged victoriously. As our Entrepreneur of the Month, we bring to you Cher Wang – the co-founder of integrated chipset maker VIA and HTC Corporation, which manufactures one out of every six smartphones sold in the US. Her journey from being a little girl with dreams to a woman with vision, inspires people all over the world to venture into entrepreneurship.

 

In the news!

Cher is focusing on developing emerging technologies to help HTC realize its vision of “Vive Reality”, which will allow the users to interact with one another in VR and AR environments in a natural manner. As of early 2018, HTC owned more than 3,000 VR-use content items developed by Viveport and Steam, helping it take the lead over its peers in the global VR market.

The combined efforts of Viveport and Steam along with HTC turned the VIVE into reality. The development of virtual reality has laid a solid foundation for HTC to expand its reach into augmented reality, artificial intelligence, 5G, Internet of Things and blockchain.

 

Know thy entrepreneur

Cher Wang grew up in a business-oriented family, her father being the founder of  Formosa plastics and a business tycoon. She studied from The College Preparatory School in Oakland, California and pursued a bachelor’s degree from the University of California, Berkeley in 1981. However, because of her endless love for piano, she wanted to pursue music full time but she gave that up and chose economics instead which made all the difference.

She founded VIA technologies in 1987, which went on to become the world’s largest independent manufacturer of motherboard chipsets. She also founded the ‘quietly brilliant’ HTC in 1997, initially a manufacturer of notebook computers. It designed some of the world’s first touch and wireless handheld devices. Since then the brand has committed itself to smartphone manufacturing.

Despite being such an accomplished person, she prefers to stay out of the public spotlight. Philanthropy has always been her larger side.  Wang has made several contributions towards setting up charitable colleges and has also made significant donations to University of California, Berkeley, Tsinghua University in Beijing and many more.

With her innovation, determination and an aggressive business mindset, she has inspired people with her social responsibility. She has been the proverbial pebble in the pond that creates the ripple of change.

 

Doing an Internship – Why it can be the best decision of your life?

In any walk of life, nothing can substitute experience. No good grades, no certificates, and definitely not the degrees can take the place of the work that you have done hands-on. Every employer these days expects the fresh graduates to have at least some experience in the corporate space, having picked up the work ethos and professionalism.

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From the very beginning of your post-school years, you may have seen a number of students working rigorously towards enhancing their skills by gaining ‘experience’ in the form of internships and volunteer experiences, which in turn make them more competitive in the job market.

 

The importance of doing internships in college years is indisputable. Here are five main ways that you will benefit immensely by doing an internship:

 

  1. Learn Professionalism

In the current scenario of employment worldwide, getting hold of a good job isn’t a cakewalk. You know it. Being an ardent student in class, a topper and your teachers; favourite is not going to bring your dream job at your doorstep – you know there are a thousand other people who are exactly like that, and there’s no way you stand out. Standing out, however, is important.

“You will have to step out to stand out”

An internship gives you the hands-on experience of any work environment. You get to tackle numerous problems in real time. There will be tasks and duties for you with a specific inexorable deadline. In the process of completing the duties successfully you will beat off various complications, work hard  and get more professional. Won’t all of this actually make you stand out?

  1. Enhance Your Resume

Interviewers don’t take a minute to skim out your CV, until & unless it has something which grasps their attention. The logic is simple – recruiters want the best returns on the investment that they make by hiring an employe, and a candidate with a prior work experience will surely be at the top of their priority. That is why they prefer students who have got great internship experience over those who have not.

Do some productive internships and then it’s your chance to enhance your resume. Include your internships and list down the the skills acquired, tasks thrown to you, your contribution to that company, your result matrices and everything else about your internship (bragging, eh?). This will be a great attraction in your resume, and will surely interest the interviewers.

 

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  1. Build a Network

We live in a global village, and you never know who can be of help at what time, especially in the corporate world. Your list of internships helps you here as well. In your internships  you will get to meet new and amazing people, sometimes get introduced to really big people, and you get a chance to make it to their good books.

“it’s not about what you know, it’s about whom you know”.

While this one statement may not make a lot of sense to you, but this is how the jobs market works. When you know good people, you have already showcased your good work to them through an internship, it is highly likely that you will never be having a hard time finding a job. Many a times, a company you intern with, gives you a pre-placement offer, and you are up for a very bright future, just on the back of decision you made – to do an internship!!

 

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  1. Test Your Career Plan

Well, a vast majority of undergraduates are not sure of their career plan up until the last year, when they actually find themselves in the middle of a job – many times a job that they hate! A profession may seem exciting at first sight, but it can later on turn into something that you are not at all passionate about.

Internships come as amazing opportunities to have a brief stint in each of the fields that you just might want to work in, in the future (remember, that bucket list?!). This will also help you to analyse if a specific field is something you could see yourself doing full time in future. Do internships – a lot of them, in a lot of different fields. In this process, your priorities might get completely jumbled, a desire to switch your current career path might arise, which is all for the best. Any decision that you take further, will have a component of experience in it – and that will make all the difference.

 

  1. The Finances Involved

While this may be the last thing to worry about for college goers (as per our parents), but we know, that we vouch for that financial freedom. After all, money matters. Many of the internships these days are paid, offering respectable amounts as monthly stipends. That way, internships give you an amazing opportunity give some financial backing to yourself, and have a life! In fact, it’s not even just about the money, but having money in hand also teaches you a lot of things – financial management, spendings, investments and savings! Can you imagine going through all of that learning, that too at a young age, in your college  – any other way?

Internships are one of the best ways to learn everything that you are unable to, while sitting in the lectures. The importance of internships is such, that even the government is making internships mandatory for getting degrees.

So, what are you waiting for? Grab an internship this summer, give your all to it, and we bet you won’t regret that experience.

 

Wait! Looking for an internship this summer? We have internship’s for all! Attend Panjab University’s Intern Fair on 21st-22nd April at Chandigarh. For more info visit our Facebook Page and register here.

GET HIRED THIS SUMMER!

 

Government Schemes for Entrepreneurs

The Government of India has undertaken several initiatives, policies and schemes to promote a culture of innovation and entrepreneurship in the country. These aim to tap into the potential of the citizens and innovate, raise entrepreneurs and create jobs.

A few of India’s efforts at promoting entrepreneurship and innovation are:

  1.  Startup India: Headed by the Department of Industrial Policy & Promotion (DIPP), Startup India promotes entrepreneurship by mentoring and nurturing start-ups. Their aim is to build a network and an environment where start-ups can grow, through provision of start-up learning programs, smoother patent filing, funding programs, tax benefits, and setting up incubators, research parks, as well as start-up centres in cities across the country. They provide funding support through a “Fund of Funds” amounting to INR 10,000 crores.
  2. Atal Innovation Mission (AIM): Established within the National Institution for Transforming India (NITI), AIM is a platform for the promotion of innovation hubs, challenges, start-up businesses and other self-employment activities, particularly in technology driven areas. AIM provides incubation facilities, Atal Incubation Centres (AICs), in order to build start-ups into sustainable enterprises. These AICs provide access to experts, seed capital, mentors and trainings to nurture start-ups. AIM will provide a grant-in-aid of INR 10Cr to each AIC for a maximum of five years, after which they are expected to become self sustainable. 
  3. Technology Business Incubators(TBI): An institutional mechanism under the NSTEDB- National Science and Technology Entrepreneurship Development Board, aiming to foster entrepreneurial spirit, facilitate technological enterprises and commercialize tech related R&D. They provide mentorship, training, business planning support and specialized services to tech based start-ups. The TBIs are funded for 5 years and then are encouraged to become independent.
  4. Innovation and Entrepreneurship Development Centre (IEDC): Another mechanism under the NSTEDB, seeking to encourage tech based start-ups by promoting innovation in students. They provide suitable mentorship, opportunities for growth through projects, competitions and interactive sessions with professionals. They also aim to facilitate E-cells in colleges to improve student involvement in the start-up world. Moreover, they provide a limited, non recurring financial assistance, up to maximum of INR 25 Lakhs.
  5. National Institute for Entrepreneurship and Small Business Development: NIESBUD is an organisation engaged in training, consultancy, research and cluster interventions in order to promote entrepreneurship. They set up activities for promoters, trainers, and entrepreneurs and accelerate entrepreneurial development and business management. They also provide a national/international forum for exchange of ideas & expressions.
  6. SIDBI Innovation & Incubation Centre (SIIC) at IIT Kanpur: This was set up in collaboration with Small Industries Development Bank of India (SIDBI) which is an apex bank to provide financial assistance under different schemes, to meet credit needs of small entrepreneurs or business organizations. It offers incubation facilities and services to prospective entrepreneurs and encourages them to convert their ideas into commercially viable products. They have a thriving ecosystem, with eight incubation centres, mentor and funding support, and student run e-cells, which provide networking opportunities.

The start-up culture is now gaining popularity in the country. With the government showing support and encouraging innovation with these start-up centric schemes and initiatives, the start-up ecosystem is expected to thrive like never before. 

BY 

SHALEEN AHUJA

                       

Autographs of Famous Entrepreneurs | Social Media

Signature is also a little piece of art that reflects your creativity and uniqueness and well there’s no doubt that most innovative minds are those people who founded, developed and now lead the Social Media platforms! So let’s see what does their signatures mean.

 The Social Media

Jack Dorsey, Twitter’s CEO, has a signature which is not his official business signature. The fully legible letters reveal his open straightforward approach to communication, and the lack of surname demonstrates his relaxed nature.

The great minds of top social networking platform has there own uniqueness, specially Mark Zuckerberg, ironically for the CEO of Facebook, his initial-based signature suggests highly private person. However, each letter is capitalized, revealing reams of confidence and a healthy sense of self-esteem.

Now let’s move to the personalities who focuses on the ‘Broader Picture’, Kevin Systrom (Instagram). The large capital letters dominate Kevin’s signature, and betrayer hint of arrogance. The missing dot over the letter ‘i’ reveals that Kevin prefers to look at a broader picture rather than focusing on minute details.

And in the end to complete the streak we have, Reid Hoffman ( LinkedIn), the extreme upward slant of Reid’s signature demonstrates a fierce ambition, and a tendency to plan for the future. The slashed dot over the ‘i’ betrays his impatient nature, and suggest his spends much of this time on the go.

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We hope you liked our series of Autographs of Famous Entrepreneurs! Leave a suggestion and do let us know if you want us to cover any topic!

Author: Simmy Singh