10 Jan 2020

Startup NEWS, Jan 10, 2020

1.’Technology is an enabler that helps in the optimization of costs, and isn’t a job stealer’

  • Technology is an enabler that makes data available at a single touch and helps in cost optimization, collaborations and governance, experts said at a closed-door roundtable meeting.
  • Experts said a lot of help from financial services will be needed to achieve the $5-trillion target for the Indian economy by 2025.
  • However, the biggest challenge for technology remains in maintaining data security and to avoid a breach of privacy, said the CXOs.

2.CCI’s Self-Regulation Relief For Ecommerce Upsets Traders’ Bodies.

  • The competition commission of India (CCI) encouraged ecommerce companies including Amazon and Flipkart this week to use self-regulation to solve issues of search rigging, reviews, deep discounting, fake goods and to uphold seller interests.
  • The All-India Mobile Retailer Association (AIMRA) and the Confederation of All India Traders (CAIT) are discontent with CCI’s new policy and demand stricter action.
  • As per an ET report, the two groups are likely to meet union minister for commerce Piyush Goyal next week.

3.India’s Fashion Tech Startup Bigthinx Takes Its Walkabout 3D Avatar To Milan

  • Bigthinx’s neural networks create a personalised 3D virtual avatar from 2D images for businesses and consumers.
  • The deeptech fashion startup is looking to enter the healthcare and gaming sectors in the future to expand beyond fashion.
  • Bengaluru-based Bigthinx recently got selected as part of Prada’s maiden fashion tech accelerator.

4.Paypal India Sees Losses Grow Faster Despite 2.5X Surge In Revenue

  • In the burgeoning digital payments industry of India, the global payments player Paypal is investing heavily to grab a piece of the market.The company,
  • however, is facing a tough time in India, batting with the likes of Paytm, Google Pay, Amazon Pay, PhonePe and other online payments services.
  • For the financial year ending March 31, 2019, Paypal India reportedly faced 3.5X surge in losses despite 2.5X growth in revenue. At the same time, the company’s expenses grew 1.53X, which proved costly.

5.How this Nagpur-based couple built an ecommerce platform for decoration services. 

  • Decornt is an online marketplace for users to purchase the necessary materials for decoration and catering purposes.
  • Having been raised in a small town named Chhindwara in Madhya Pradesh, Lagan Saluja and Kamal Saluja, the founders of Decornt, noticed that businessmen in the decoration and tents industry spent a lot of time travelling to other cities to procure the necessary materials.
  • Lagan says, “Some goods and materials are not easily available in our location as they are in larger towns and cities. There was a dearth of a platform that could bring these two together.
About Philomathes Jigyasu

Philomathes (pronounced as fillo-MAY-thus) is a fictional character at VAYUZ (https://www.vayuz.com), who is on a never ending journey called “LEARNING”. In a way, Philomathes embodies VAYUZ - Way of life, which is if you are not learning then you are not breathing. The word Philomathes, comes from the Greek roots philo and philein meaning "to love" and the Greek roots mathos (MAH-thos) and mathesis (muh-THAYSIS) meaning “learning”. Philomathes through his Blogs and Vlogs (Video Blogs) will share his experience, learnings and thoughts. In his tryst to learn and understand, he would also seek answers to questions. So if you would like to join him in this incredible journey called “ life” then feel free to write to him on philomathes.jigyasu@vayuz.com. Always remember, knowledge is all around us, we just need to keep our guards down and senses on.

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