Premium start-ups by alumni of top notch institutes (IIT,BITS-Pilani,IIM etc.)
Premium start-ups by alumni of top notch institutes (IIT,IIM etc.)
Start-ups by alumni of some top-notch institutes have aided business executives in minting money and flourishing their businesses.
We take a glimpse of ten eminent and renowned start-ups by alumni of these institutes:
Country’s elite online retail brand, Flipkart was instituted by an IIT-Delhi alumnus in association with a friend with a meager investment of Rs 4 lakh. In a short span of 6 years the company has acquired a lot of fame. Its cash-on-delivery concept has been followed by numerous e-commerce brands. It is a renowned name in online retail sites.
Exotel was established in February 2010. A single mobile number furnished by the company can be aligned to various cells. It is a comprehensive solution that targets small and medium enterprises.
Grey Orange Robotics
Grey Orange Robotics blossomed from a classroom project. Incepted in 2009, the elite robotics company aids the online retailers in automation of their warehouses. The robots are capable of moving the shelves to a floor assistant. The picked items are moved to the shipping bay where they are sealed for final; transport.
Established by alumni of IIT-B, Reportbee has revitalized the traditional report card into a digital application. It has simplified the work of teachers as the application allows them to inspect the growth of a student or judge the performance on a single sheet.
Bluegape was incepted by two IIT Kanpur graduates with an investment of Rs 2 lakhs. Originally it was started in their hostel rooms and fetched clientele from campus only. Later, the poster making website was taken to a national level. Soon after expansion, besides being a supplier of merchandise, the company also started manufacturing products like:
- Coffee mugs
- Cushion covers
- Laptop skins
Established in 2009, Knowlarity is a cloud telephony association of two IIT alumni. Carrying work experience of McKinsey, they chiefly targeted India’s small and medium enterprises. At present, Knowlarity manages numerous telephony products.
A joint venture of a Wharton graduate and an IIT alumnus, Snapdeal is a top notch provider of daily online deals. Its operations are parallel to those of Groupon. Snapdeal.com charges a share of 35% in every deal. Once a service or a good is delivered, the remaining amount is received by the merchant.
TravelTriangle is an online travel service provider which was instituted by two IIT graduates who were later joined by another friend as a core development maker. They started with a garage in Noida and had a picture in their minds about a model that channelizes the customers with travel agents. Each customer request reaches a minimum of three travel agents operating in the area of consumer. As a result of competition among buyers, customer gets efficient service at a reasonable price. The company is a huge success and is minting money in crores.
RedBus, a joint endeavor of Phanindra Sama and two alumni of BITS Pilani was taken over by the Ibibo Group in June 2013 for Rs 600-700 crore. Originally, it operated on the basis of seat quotas in which the unsold ones had to be returned before the departure of bus. It was later that a ticketing software was introduced which allowed people to directly access the link of the portal.
Incepted in 2011 by two IIM-Ahmedabad graduates, Taxiforsure basically deals in car rentals and taxis. The enterprise has partnered with numerous cab operators both in Bangalore and Delhi in addition to some elite ones like Mega cabs and Cell cabs. The company is quite stable financially and expects to earn profit of Rs 100 crore by the year 2015.
This post was written by Aditya Singhal, managing director of askIITians.