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As a startup or small business, staying on top of the latest technology trends is crucial for growth and success. SaaS (Software as a Service) tools are essential for startups and small businesses as they provide cost-effective and scalable solutions for various business needs. Startups typically have limited resources and need to be mindful of their spending. SaaS products often have lower up-front costs and subscription-based pricing, which can be more manageable for startups. Additionally, SaaS tools are cloud-based and can be accessed from anywhere, which is helpful for startups that may have employees working remotely or in different locations.

SaaS tools also offer scalability and flexibility, allowing startups to manage their usage as their needs change easily. This is important for startups as they grow and their business needs evolve; SaaS tools can adapt and grow with them.

This blog will cover the top 10 latest SaaS products launched in the market that startups can leverage for their growth.

1.) Hyperswitch

SaaS product hyperswitch

The first on the list is one of the tops on the product hunt list. Hyperswitch is a payment solution platform that lets you connect with multiple payment processors with a single API and access the entire payment ecosystem. It’s an open-source payment switch that improves payment success rates and reduces payment costs, ops & dev efforts. Hyperswitch supports all primary payment methods and connectors, and its unified payments interface supports more than 135 currencies.

Some of the significant features:

  • No-Code Integration with more than 100 Processors
  • Complete control & automation of payments flow
  • Easy-to-write rules to manage Routing
  • It lets you manage 200+ payments methods the CRUD way

Hyperswitch offers a free tier for Startups.

2.) Traw

SaaS product Traw page design

Traw is the first ever replayable whiteboard communication software built especially for remote teams and collaborations. With Traw, you save and replay everything from meetings, including audio recordings, and it lets you enhance your discussion with visuals.

With traw you can:

  • Collaborate with team members in various ways.
  • Use Templates to complete repetitive tasks quickly and easily.
  • Record your work in real-time and team meetings with visuals.

Pricing

Free version available; Paid starts from $8 per month

3.) YourChamp

SaaS product YourChamp login page design

YourChamp lets you make a digital business card that shows your cumulative social reach. With YourChamp, you connect all your prominent social media accounts to a single dashboard and show your collective social reach. It also helps you build credibility by inviting fans from all social media networks into one profile. YourChamp is a free tool and requires no payment info to use.

4.) Luru

SaaS product LuRu login page design

Luru is a productivity tool that lets you update CRM software more quickly. This is the fastest way to access CRM from anywhere on the web, and it brings the CRM to communication & team collaboration platforms like Slack, Zoom, Google Meet, Email or anywhere on the web.

With Luru, you can:

  • Automate your sales process on Slack
  • Take notes from inside Zoom and Google Meet
  • Create meeting playbooks that guide you through the calls.
  • Update your CRM in seconds
  • Create action items for yourself and your team quickly

Pricing

The free version is available; Paid version starts at $439 per month.

5.) Bardeen

SaaS product Bardeen home page design

The fifth one on the list is Bardeen. Bardeen is an automation tool that lets you automate repetitive manual tasks without code right from your browser. With the help of Bardeen, you can perform tons of automation across Sales, Marketing, Product development, data research and many more use cases. Bardeen offers hundreds of pre-built playbooks and audiobooks. They also provide tons of integrations and even let you develop your own. Bardeen is currently available as a chrome extension which you can download from the chrome web store. They have also won awards and were featured on the top products in the Product hunt platform.

Pricing

Free version available; Pro version under development

6.) Racoon

SaaS product racoon signup page design

Racoon is one of the latest email marketing tools that emerged in the market. This email marketing tool is built especially for startups and small businesses. Racoon is powered by Acelle and Amazon SES and is connected to SMTP Service. With this SaaS product, you can send unlimited emails with unlimited campaigns and contacts.

Pricing

The free version is available; Paid version starts from $250 per month.

7.) Yotako

SaaS product Yotako login page design

Yotako is a design tool that lets you automatically publish your Figma and Abode XD designs as WordPress websites and themes without code. With Yotak, you can design different versions of your websites and update WordPress and themes with the plugin. It’s a free tool and comes as separate plugins for Figma and Adobe XD, and they also provide ready-made templates to get started with.

Pricing

The free version is available; Paid version starts from $39 per month.

8.) Hubalz

SaaS product Hubalz login page design

Hubalz is a web analytics solution that helps businesses reach their marketing goals faster by providing actionable insights that matter to make better decisions. The tool gives you a complete understanding of your customers across devices and platforms and helps improve marketing ROI.

With Hubalz, you can:

  • Track customer behaviour
  • Capture visitor sessions
  • Get a visual representation of your visitor engagement using the heatmap
  • Define key behaviours of visitors
  • Detailed analysis of conversion funnel
  • Make data-driven decisions for your website using instant AI-powered highlights feature

Pricing

Starts from $12 per month

9.) Fuelfinance

SaaS product FuelFinance login page design

Fuelfinance is a cloud-based SaaS product for the financial department for startups. It handles all your finance, including accounting, P&L, CF, Financial projections, Unit economics and Plan/fundamental analysis. Fuelfinance handles all your spreadsheets, graphs and automation for you. They provide powerful dashboards and financial services for SaaS, E-commerce, Construction, and Professional Services.

Pricing

Starts from $1399 per month

10.) GoCharlie.ai

SaaS product GoCharlie home page

Gocharlie is an AI tool that can help you with social media, content creation, image & art generation and more. Charlie is a lifesaver for content marketers as it can save a lot of their time by creating blog content and captions for them. This great AI tool has 50+ use cases. Try it for yourself.

With Gocharlie, you can;

  • Generate original blog content
  • Create engaging social media Ads and captions
  • Repurpose content
  • Turn texts into images and arts

Pricing

The free version is available; Paid version starts at $39 per month.

Bonus

Startups can use Product discovery platforms to discover the latest launched software for different industries and tasks.

1.) Product Hunt

Product Hunt is a platform for discovering new products, typically focused on technology and startup companies. This is a popular destination for product-loving enthusiasts to share and geek out about the latest mobile apps, websites, hardware projects, and tech creations. Users can submit and vote on products, and discussions about the effects occur on the site’s forum.

2.) Indie Hackers

Indie Hackers is a website and community for entrepreneurs who build and run their businesses, typically in technology. It is a platform for people to share their stories, strategies, and insights about starting and growing their own companies. Individuals use Indie Hackers to build and launch their products, and you can browse tons of products and even create your project with Indie Hackers.

Conclusion

SaaS products can be a game changer for startups and small businesses looking to streamline their operations and improve their bottom line. The options are endless, from cloud-based project management tools to financial management software. These tools can help startups save time and money while improving their productivity and efficiency. However, it’s always essential to evaluate the specific needs of your startup and choose the right products to help you achieve your goals and reach new heights.

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What is a Startup Ecosystem?

Startup ecosystems are networks of resources intended to foster innovations through startups. It is designed to aid the growth of startups in earlier periods of growth. These ecosystems provide startups access to mentorship, office space, and investment options, enabling them to connect with other business sectors.

In a startup ecosystem, multiple types of organizations interact as a system to create new startup companies by interacting with people and startups in their various stages.

About Kerala Startup Ecosystem

Kerala Startup Mission is the government’s significant entrepreneurship development and incubation agency. In between 2016 and 2022, the state’s original incipiency ecosystem witnessed a smash in capital flux. The main reason for this is the state is home to some of the most promising Indian startups. The startups like CareStack, Open( innovated in Kerala), and Survey Sparrow are among those.

The entrepreneurial ecosystem in Kerala

An entrepreneurial ecosystem consists of interdependent actors and relationships that catalyze new venture creation and growth. The Global Startup Ecosystem Report of 2022 named the Kerala Startup Mission (KSUM) Asia’s best performer for promoting talents. As a result of the government mission, 200 startups were successfully funded in 2022 out of 900 eligible innovators. Communities like Silicon Valley, Boston, Tel Aviv, London, Boulder, and Berlin took decades to become robust entrepreneurial ecosystems. However, it is easy for such ecosystems to grow anywhere today. In the modern economy, every community has the opportunity to become a thriving ecosystem.

Kerala Startup Funding

$551 Mn raised by the local startup ecosystem since 2014.

Fintech & SaaS emerged as crucial sectors for startup investmentsA total venture capital infusion of $551 Mn across 110 funding deals with Fintech and SaaS (enterprise tech) startups remaining at the forefront of raising venture capital. Together, these sectors account for 66%, or $364 Mn, of the total investments worth $551 Mn received by Kerala-based startups since 2015.

State of Kerala startup ecosystem 2022

Key Highlights of Kerala Startup Ecosystem

The main highlights of the Kerala Startup Ecosystem are:

  • More than 30 aspiring entrepreneurs.
  • Above $551 Mn total venture capital inflow since 2014.
  • Above 40K employment created by local startups.
  • Above $101 Mn fund of funds established by the state government.
  • Above 4K startups
  • About $2.8Mn innovation grant provided by State government
  • Number of active incubators in the State-63
  • The number of IEDCs/mini incubators operating in the state is above 375
  • Kerala startup ecosystem Asia and global ranking 

Kerala Startup Ecosystem Asia and Global ranking 

Kerala’s startup ecosystem has ranked top in Affordable Talent in Global Startup Ecosystem Report (GSER) in Asia in 2022. 

Kerala is also ranked 4th in the GSER global ranking , based on the research driven by Startup Genome, world’s leading policy advisory and research firm. 

Startup Enabler Ecosystem in Kerala

Kerala is ahead of other startup hubs in the country regarding the scope of investment and growth for Indian hardware startups, which lapped up nearly one per cent of the total capital raised by Indian startups between 2014 and H1 2022.

However, hardware product/service-focused startups in Kerala have raised $15.2 million, or approximately 3%, of the total $551 Mn increase since 2014. This is much higher than the leading startup ecosystems in the country, such as Bengaluru (0.03%), Delhi-NCR (0.92%), and Mumbai (1%).

Investor Backings

Kerala’s startup ecosystem offers plenty of funding opportunities for early stage startups. KSUM introduced a few schemes,including Innovation Grant and Seed Fund Support, which offers working capital without equity dilution which allows startups and entrepreneurs across the early stage ecosystem to build and launch their products without requiring private capital. 
Kerala’s startup ecosystem houses more than 160 Unique investors. Out of total active investors in Kerala, angels and accelerators and incubators who come under early stage investors account for 48%. Early stage investments indicate the presence of a robust investment inflow that propels the early stage entrepreneurial ecosystem.

Key Development Indicators

  • The GSDP (Gross State Domestic Product) is valued at $115 billion. 
  • Highest literacy rate in India at 94%. 
  • 92% Literacy Rate Among Women, which is highest in India.
  • 1st in procurement of affordable talents by Global Startup Ecosystem Report 2022
  • 30 Million plus Internet Subscribers In Kerala
  • More than $2k Per Capita Income, which is 56% higher than the National Average. 

What is Kerala Startup Mission ( KSUM) ?

KSUM, founded in 2006, is the Kerala government’s nodal agency for the state’s entrepreneurship development and incubation activities for welfare of Kerala’s startup ecosystem.

How KSUM is providing an opportunity in the Startup Ecosystem

Kerala Startup Mission was founded with a goal to create the infrastructure and ecosystem required to support high-end technology-based startup businesses. Now, the organization has been able to build a vibrant startup ecosystem allowing Tech entrepreneurs to pursue their dreams by providing them complete support in the startup life cycle. 

Under Kerala Startup Mission:

  • 3,900 startups were registered
  • 6 lakh plus square feet of incubation space were provided
  • 67 incubators & 370 mini incubators provided
  • Future technologies lab, IOT labs, MIT Super Fab lab to promote digital fabrication and 22 fablabs including mini fablabs were distributed across different districts.

KSUM has worked hard over the years to strengthen the start-up environment in the state. In the last 5 years, KSM has awarded innovation grants to 550 ideas out of 2000 shortlisted startups. 

KSUM disbursed grants worth Rs 6.9 crore to 170 startups in 2021-22. 

Rise of Kerala Startup Ecosystem

Over 4k startups were launched in Kerala between 2016 and 2021. 95% of the startups in Kerala were launched in 2016 or afterwards.

As one of the most literate states they also have well interlinked schools & colleges, incubators, government institutions and startups to build a well orchestrated startup ecosystem. 

Kerala has set an ambitious goal of creating 15k startups over the next five years with the help of various government initiatives. The state is also looking to set up a dedicated venture capital fund for startups. Kerala has also opened a launch pad program for startups from across the world to come to the state and explore the market. 
Kerala Startup Mission (KSUM) launched Seeding Kerala, an investor summit, showcasing opportunities to invest in startups from Kerala. At the latest Seeding Kerala Summit, investments of $10.6 million were announced. 46 investors participated in the invite-only summit.

Top Growing Sectors

Fintech and SaaS ( Enterprise tech) emerged as the top startup sectors in Kerala, with 66% of the investments being made into the two sectors. 

40% of the funded startups in Kerala came from the SaaS sector

Subsector strengths

Advanced Manufacturing & Robotics

Thanks to its support facilities including a network of 22 fablabs, 20 IoT labs, and MSME Cluster spread across the state, Kerala has become one of the ideal base for advanced manufacturing and robotic companies. The Electronics manufacturing and industrial clusters of the state  help startups to scale their manufacturing activities. 

Artificial Intelligence, Big Data & Analytics

  • Kerala became the first Indian state to introduce coding into the curriculum from Class I onwards. 
  • Digital University Kerala launched a training program called Capacity Building in Responsible Artificial Intelligence and Data Analytics for the Police Department in 2022.
  • Agrima Infotech ,an enterprise business unit of Deep Tech company incubated by Kerala Startup Mission was acquired by online grocery Bigbasket.

Blockchain

Kerala University of Digital Sciences, Innovation and Technology, under Government of Kerala, started an initiative, Kerala Blockchain Academy to provide Blockchain training, research, and consultancy. 

An offshore delivery center is being set up in Kochi by UAE based Blockchain startup Kingspin Technology Services as a part of its expansion. 

Top Startups

Entry

Entry is a learning app for jobs in India. In 2017, Mohammed Hisamuddin and Rahul Ramesh founded it. Mainly for job seekers, this delivers learning resources in any local language. This also gives mock/adaptive tests, flashcards, video courses etc.

They raised about $1.4M from Good Capital, Boston-based edtech accelerators like LearnLaunch and a group of investors. The pandemic impact and the lockout increased their user base to 3M, with 90k paid subscribers.

The success of Entri comes from the realization that online learning concepts become highly effective when done in one’s native language. Entry is undoubtedly one of the most promising and top startups in Kerala.

NavAlt Solar

The energy needed for the transportation of water is quite large. Solar ferries are the main practical answer to this problem but they are costly. To fill the gap between cost and efficiency, NavAlt Solar & Electric Boats built India’s first affordable solar ferrie. It is the world’s most cost-effective one.

Sandith Thandasherry a naval architect with deep knowledge and experience, is behind this boat manufacturing and solar energy startup industry, NavAlt. At first, they needed something to work for them as per the plans. Constant cash flow, government regulations, and technology problems they faced provided them with learning opportunities.

As a result, the Kerala government has finally introduced solar boats to its waters, and the Maharashtra government has followed suit. Recently the company has emerged as one of the top startups in Kerala.

Genrobotics

Four young engineers, Vimal Govind MK, Arun George, Nikhil NP, and Rashid Bin Abdulla Khan, took their love for science and Iron Man has to lead to a new stage with Genrobotics and Bandicoot. It is about a Manhole monitoring system. They have decided to end the deaths of sewers and clean up utility holes with Bandicoot, a spider-shaped robot created by their startup company Genrobotics.

Bandicoot uses machine language and artificial intelligence to calculate the unclogging required. Thus in 45 minutes, it can finish work that would take 3-4 hours to complete if done manually. 

It raised about Rupees 2.5 crore in a pre-Series investment headed by Unicorn Ventures (India). It is now one among the top startups in Kerala.

SurveySparrow

Shihab Muhammed introduced the idea for SurveySparrow, a client experience platform, because he set it up himself, putting off checks. After all, the unimaginative questionnaires failed to engage him. This led to SurveySparrow, a better forum for statements that’s further engaging, with advanced check completion rates of 40.

The platform has an erected- robotization system that allows associations to produce and partake in mobile-first checks through SMS or WhatsApp. Generators can manage client experience checks, hand palpitation checks, and request feedback checks with a Conversational stoner Interface.

SurveySparrow has raised$1.4 million in seed backing from Prime Venture mates and is indeed one of the top startups in Kerala.

Inntot Technologies

Music, prints, and pictures can now stream via a home network. Presently, colourful companies in this sector serve millions of people worldwide.

The retail price of digital media receivers increases as new capabilities are added. The company also provides services in consumer electronics and IoT.

The total Funding Amount is Rs 150 Cr in the first funding & plans to raise Rs 400 Cr in the second round.

CareStack

CareStack is a pall-grounded dental practice operation, patient commerce, and data analytics software. It allows guests to manage all primary operations of their practice through one straightforward platform, with completely integrated modules for scheduling, clinical, billing, patient engagement, and business administration.u6

CareStack is a Florida and Thiruvananthapuram- grounded dental care incipiency. CareStack raised$ 28 million in 2019, and with this fundraiser, it has raised an aggregate of$ 60 million. As percrunchbase.com, the total funded quantum so far is$74.1 Million. The good news is that Carestack has given exit to 12 of its early-stage investors. This demonstrates the progressive growth of the incipInntot comes next in the list of top Kerala startups. It is mainly about cost-effective next-generation digital media receivers by Prashanth Thankappan & Rajith Nair.

EyeROV

With its bitsy, ever-controlled drone, Kochi- grounded incipiency EyeROV makes it to the top startups in Kerala list for offering data-driven reporting and ease of use in marine examinations.

E-commerce or entertainment has nothing to do with marine robotics, which you hear about only sometimes. Besides tackle, EyeROV creates a data analytics and visualization platform. This is to partake every minute information from aquatic checks by its guest’s possessors of underwater. Through its intuitive platform and AI and machine literacy, EyeROV can make faster and more influential decisions. Total funding Amount of EyeROV is about $70K.

Payback

Payback comes next in the list of Top 10 startups in Kerala. It’s a Fintech establishment that assists businesses in taking better care of their workers by refunding charges simply and accessible online. Workers can make payments using a mobile port and a card handed by the company. Also all costs are proved and so workers can save plutocrats on levies.

Authors Nicky Jacob, Ricky Jacob, Vivek Vinod

Sastra Robotics

Sastra Robotics is a Robotics company in the top ten list of startups in Kerala by Aronin P, Akhil A, and Achu Wilson.

Dedicated to developing innovative robotic technologies and results, it’s an early stage robotics organization. The company is in favour of people and robots coinciding. They also seek and admit backing from colourful exploraebtion institutions to further advance their progress. The company was innovated in 2012 . And became one of the top ten startups in the Startup Village incubation centre in 2012.

Mykare

Making healthcare more straightforward and accessible is what Mykare’s then for Senu Sam and his two mates, Rahmatulla and Joash, revolutionized healthcare assiduity and innovated Mykare in the early epidemic period of 2020. Mykare provides easy and accessible results for surgical care for cases by allowing them to admit an end-end frame, starting from planning the surgery and consulting the right croakers to ordering drugs and booking lab tests or reviews for checks. With a fast-growing network of 10 metropolises so soon, Mykare Health is turning out to be one of the top startups in Kerala with a vision.

Zappyhire

Zappyhire’s is a reclamation platform that relies fully on artificial intelligence. This reclamation mate allows you to speed up your processes through reclamation robotization and data intelligence. Innovated by Deepu Xavier and Jyothis KS in 2018, Zappyhire has relatively fleetly taken over gift accession problems! With features ranging from an aspirant tracking system, a capsule parser, AI assessments and a recruiting chatbot, Zappyhire takes retaining to the coming position. They entered a total backing quantum of$494.3 K in their last seed backing round in 2021. With a beginner customer base of further than 4000, Zappyhire is another well-known incipiency in Kerala!

Promoting Women entrepreneurs

Focus on Women in Startup Ecosystem

Only 11% of startups in Kerala have a female founder. KSUM will run activities in emerging technology at the school & college level to create a pool of girls with skill sets that can leverage by existing and upcoming startups. They will also provide awareness in entrepreneurship at a lower level.

Also specialized incubators & sector-based accelerators will built with inclusive women space to support women founders/ entrepreneurs. 

More participation of women as speakers will ensure in the events of the ecosystem. This will even out the diversity and create role models to motivate. 

Schemes For Women Entrepreneurs

  • Soft Loan Scheme (Up to INR 15 Lakh)
  • Seed Fund (Up to INR 15 Lakh)
  • Technology commercialization support (Up to INR 10 Lakh)
  • Soft Loan Against Purchase Order (Up to INR 15 Lakh)

Upcoming Programmes By Kerala

Innovators Premiers League

KSUM has set up an an initiative, Innovators Premier League 2.0 with the mission to bring out the

best talents from the Kerala Innovation Hubs. Innovators Premier League 2.0 aims to bring awareness and sensitisation of IEDC & its activities among students, build a competitive & entrepreneurial mindset among innovators, and create a pipeline of startups. 

Rink Technology Conclave

The technology conclave aims to bring together Research innovations in the rink platform under a common roof to exhibit their products. It creates a platform for researchers to network with startups, technocrats, mentors, corporates, industries, government officials and investors.

Moreover this will give an opportunity for them to understand more about cutting-edge research products  developed in the country’s premier research institutions. 

Huddle Global

Huddle Global is one of the most coveted events in Tech Startup Ecosystem in India and offers a platform for start-ups to showcase their products and interact with Tech and industry leaders, on ways to move ahead in the ever growing tech world.

Organized by the Kerala Startup Mission (KSUM), the event features keynote sessions, leadership talks, tech talks, start-up demo, and other business-oriented activities. 

Seeding Kerala

Seeding Kerala is a unique annual event that brings together the HNI network of kerala and investors around India to showcase opportunities to invest in best startups from the state and other parts of India. The event has been organized by Kerala Startup Mission (KSUM) since 2016.

Seeding Kerala is designed with the intent of:

  • Seeding investors in the Kerala startup ecosystem
  • Seeding a startup investment culture among the HNIs in the state.
  • To educate and empower potential investors and HNIs from the state to create an Angel Investor Community in the State. 

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What is Cryptocurrency insurance?

Crypto insurance secures the losses associated with cyber security breaches. Most cryptocurrency transactions contribute at least some Insurance to secure digital assets against losses from security breaches and theft. In short, Cryptocurrency insurance covers investors and exchanges against funds lost due to theft to a limited extent.

Why Does Crypto need Insurance?

It’s a fact that crypto agencies can’t handle all the risk by themselves, and they need to transfer some of it to an insurance provider who provides them assurance. Insurance is vital for cryptocurrency companies as they require all the assistance to protect their digital assets.

A report detailing cryptocurrency insurance states that about $1.3 billion was stolen from exchanges since the first Bitcoin block was mined back in 2009. As per the report an average of $2.7 million of assets was stolen daily in the year 2018. And so, Insurance is highly essential in reducing the risk for those who wish to hold digital assets.

There is endless potential for the transaction of vast amounts of Cryptocurrency immediately, as misappropriation is incredibly easy. Concerning money, one has to steal it, and there are limitations on how much cash one can withdraw. Besides that, it is possible to trace money too.

Considering Crypto, a potential thief must drudge into a crypto buyer’s critical details and digitally transfer the amount they wish straight into their anonymous account. 

Regarding the best crypto-insurance provider, you must figure that out for yourself. Check the company that offers a range of insurance protection and products.

How Does It Work?

Usually, investors who own conventional securities, such as bonds or stocks, will always have insurance backing from either the government or private insurance agencies. However, crypto investors do not automatically have those same protections.

That’s where crypto insurance provides cryptocurrency owners with protection for their investments.

There is a rise in demand for this type of Insurance, especially while considering events like burglary. However, the main problem for insurers is the approval process when solid risk judgements become problematic due to a shortage of cohesive restrictions within crypto-insurance management. Some advanced and recent startups are more proactive in this area, but the remaining still need to be.

So, if the industry is still developing and unstable, the need for the safeguards of Cryptocurrency is highly essential.

Which type of Businesses requires Cryptocurrency Insurance?

A business needs insurance to protect its assets and financial interests from unpredicted events that could jeopardize its future, and crypto companies are no different. Here are some examples of blockchain and crypto companies :

  • Cryptocurrency trading
  • Performing crypto custody (guarding third-party assets)
  • Managing cryptocurrency assets
  • Provide a payment remittance platform

If your crypto business belongs to any of these categories or another blockchain-related area, consider looking for the right coverages for your company. 

The Risks that Cryptocurrency Companies Face

The nature of Cryptocurrency shows that main risks these companies face are related to the online platform. As a digital currency, Cryptocurrency does not have a physical form, and all transactions, investments, and payments occur online.

That’s why the most risk for crypto companies is the risk of a cyberattack. Cybercriminals target crypto companies because Cryptocurrency is extremely hard to trace once they start transactions around. Even if a company has highly robust cybersecurity measures, hackers are continually searching for improved ways to attack, and their activities are becoming highly sophisticated.

Social engineering

It is a common way for hackers to get into your network. They pose as a genuine and trustworthy source and may trick any of your employees by giving them free entry to their accounts or the internal system. Social engineering attacks are a small threat to online safety, and the only way to block them is to educate employees to recognize them. Once hackers access your systems, nothing stops them from stealing your coins. It may take days to find out the breach and the damages caused by them.

Hackers may also decide to take access to your data hostage. It is possible for them to take your credentials or confidential information of clients and request ransom payment in Cryptocurrency to release the data back to you.

Omissions

If you are providing services related business or are in the service-providing business, you risk making a professional mistake or omission. For example, if you request your client to invest coins in the wrong fund and, in return, lose money, you can expect them to sue you for bad advice.Indeed, these risks are not particular to only cryptocurrency business, but their risk profile is unique because of their sole nature. 

Many insurers are ready to take some risk from crypto companies recently and provide them with adequate cryptocurrency insurance policies.

Why Does Crypto Insurance matter?

Well, for beginners, no matter how much cryptocurrency inventors have been avoiding regulation, governments and regulatory authorities will make an impact at a particular point. How this insurance works relies entirely on individual organizations prepared to take on underwriting and Insurance of the existing digital assets. Some crypto insurance companies are building the crypto-economy – a more fair, accessible, efficient, and transparent financial system enabled by Crypto.

And they’re not taking this lightly! They have about 73 million verified users and 10,000 institutions, and 185,000 ecosystem partners operating or living in over 100 countries. Moreover, they have approximately $255 billion in assets on their platform.

The form of legal tender used to acquire the digital asset becomes part of the risk portfolio that insurers will assess when deciding whether to underwrite and take on an insurance policy. So ultimately, insurers will be looking for greater regulatory clarity in the coming years before extending coverage further for more competitive pricing points. They will have to get there relatively quickly too. 

Digital assets are hardly a new phenomenon, and if we’re going to include Crypto under that umbrella term. Then insurers and bankers will have to get in on the action if they want to participate in a market that will only grow and become even more lucrative.

What Crypto Insurance Doesn’t Cover?

This is highly dependent on the insurer, but usually, the policy will only cover direct hardware loss and damage and the exchange of Cryptocurrency to a third party. Additionally, it won’t protect against disruption or failure of the blockchain underlying the asset. 

Crypto Insurance Financing

It should remember that the сryptocurrency transactions consist mainly of startup businesses, and it’s simply not big enough to support revenue for the insurance industry yet. The fascinating fact about the safe storage of these coins is that while some users are held in hot storage — i.e., in locations provided by the internet, many other users are disconnected from the repository from the internet. And therefore, no one can ascertain their insurance status. 

Can we purchase cryptocurrency insurance for ourselves?

It’s true, although it’s more complex than answering with one word. Due to the relative immaturity of the cryptocurrency market, most crypto assets still need to insure.

There is a greater likelihood that exchanges that trade cryptocurrencies will hold the most significant section of the cryptocurrency insurance market than individual traders. You must check directly with that platform to determine whether you are covered as a crypto purchaser when selling on a particular platform.

But what about private crypto insurance for individuals? While some companies are evolving to offer private crypto-insurance, their levels and extent differ immensely.

Better to start small. Build your portfolio skillfully and patiently using credible exchange. Also don’t be sucked into “too good to be true” promotional deposits that promise huge profits.

FAQ

Can I insure my Cryptocurrency?

You can have insurance protection through the crypto exchange you use to buy and hold your crypto assets. But one should note that not all deals offer insurance coverage, and the type of insurance policy also varies from one exchange to the other.

Does Insurance cover crypto theft?

An indemnity is provided for losses incurred as a result of cryptocurrency theft. If your hot wallets were hacked, a crime insurance policy would reimburse you for the loss of digital assets. Theft and fraud are common in the digital field, and so the area of the cryptocurrency industry is not spared.

Is it possible to recover stolen Crypto?

Yes, A crypto assets recovery service can help you recover your crypto assets. The recovery of crypto assets is indeed possible. However, it can be problematic in the absence of correct information. So you need to know every detail to recover your lost/stolen crypto assets.

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2022 is coming to an end, and the Business & Tech world witnessed a lot of changes, ups and downs
this year. Topics and major events like Cryptocurrency, Artificial Intelligence and its impacts,
Inflation and layoffs dominated 2022. In this blog, we take a look back at the major business & tech highlights that defined 2022, the impact it made and
things to look forward to in 2023.

INFLATION

What is Inflation?

In simple terms, Inflation means the gradual loss of purchasing power reflected when the prices of
goods and services increase in an economy over a period of time.
Inflation is measured by the percentage change in the Consumer Price Index (CPI), the price index of
the average purchased consumer goods and services.

Inflation 2022

Almost half of countries worldwide are witnessing inflation rates of more than 10% this year, with
five reaching triple figures. Zimbabwe has the highest inflation rate in the world, standing at 269%.
Ukraine emerged as the country with the highest inflation rate in Europe due to war disruption.
Speaking of Ukraine War, according to Mark Zandi, Chief Economist of Moody’s Analytics, the
Russian invasion of Ukraine was also one of the leading causes of high inflation.

What are the Common Causes of Inflation?

Some of the common causes of Inflation are increase in Money Supply, Government spending, Cost
production and decrease in supply of money, decrease in the demand for goods and services
etc.

LAYOFFS

Undoubtedly 2022 witnessed a staggering number of layoffs from startups. More than 50 startups laid off close to
around eighteen thousand employees this year, and these startups include 12 unicorns Unacademy,
BYJU’s, OYO, Ola, Meesho, MPL, Chargebee, Cars24, LEAD, Innovaccer, Udaan and Vedantu.
The Indian startup ecosystem also wasn’t in a smooth ride as the funding was significantly lower
compared to 2021.

Why do layoffs happen? What are some of the common reasons?

Some common reasons why companies lay off employees include:
1.) Financial difficulties: When companies go through a financial crisis or face bankruptcy, they
usually lay off employees to reduce costs and try to stay afloat.
2.) Changes in market demand: If the products or services offered by the company are no longer in
high demand, it may lay off employees to reduce excess capacity.
3.) Restructuring: Laying off employees as part of a restructuring effort to streamline operations,
improve efficiency, or shift focus to new products or markets.
4.) Mergers and Acquisitions: When two companies merge or when one company (acquirer)
takeover another company (Target), layoffs happen to avoid duplication of roles and functions.
5.) Outsourcing: Outsourcing is also one of the reasons for layoffs, where in some cases, companies
lay off employees and contract out certain functions and focus areas to 3rd parties.

Take a look at our Layoff tracker of India for the year 2022: 

RESIGNATION

2022 saw a record number of employees quitting their jobs for several reasons, including career
changes, bad workplace experience, slashed salaries, overtime shifts, etc.
Also known as the great resignation, the voluntary mass resignation of employees has been a
significant concern for employers this year and soon affected India too.
The great resignation started in USA two years back, followed by a few other countries, eventually
finding its way to India. It all began when companies brought new rules to the workplace after the
COVID-19 pandemic. It brought drastic changes in the workplace, which negatively affected the
employees leading them to take the hard decision.

What are the leading causes of great resignation?

1.) Overtime Shifts
2.) Slashed Salaries
3.) Restriction of leaves
4.) Extended work hours
5.) Employees choosing work-life balance over Salary
6.) Toxic Work Culture
7.) Increased scope in freelance and Work From Home jobs.

BUSINESS SUSTAINABLITIY

Reducing the impact of its activities on the environment and society has become a top
priority for companies this year. Consumers and investors are considering sustainability when
investing their time and money in companies.
Brands are turning towards technologies that adapt to the planet’s needs and help achieve
business sustainability. For instance, according to a survey, some of the common
sustainability initiatives brands invest in 2021 and 2022 are tracking emissions, improving
manufacturing efficiency, solutions for recycling products etc. 

Take a look:

Statistic: Leading sustainability initiatives brands are investing in worldwide in 2021 and 2022 | Statista
Find more statistics at Statista


What is business sustainability?

Business sustainability is a company’s ability to do business without negatively impacting
the environment, community, or society
 but simultaneously meeting the needs of the
present.

By adopting sustainable practices like using eco-friendly products, energy-efficient
equipment, recycling materials, installing solar panels, etc., they not only can reduce their
environmental impact but also improve their reputation, increase customer loyalty, and
reduce costs in the long run.

CRYPTOCURRENCY

What is cryptocurrency?

Cryptocurrency is a virtual currency that uses decentralized technology to secure financial
transactions without central authority or a financial institution. Moreover Cryptocurrency uses cryptography
for security and a crypto wallet to securely store, send, and receive cryptocurrency.

The Ups and Downs of Cryptocurrency in 2022

The cryptocurrency was filled with ups and downs this year. The fall of the FTX cryptocurrency
exchange, price fluctuations, regulatory challenges, Crypto scams and thefts contributed to the crash
of significant cryptocurrencies this year.
Crypto Highlights in 2022:

Credit:Tripple A
  • According to Singapore-based blockchain firm TripleA, the global crypto users went over 320 million users in 2022. 
  • India ranks second worldwide regarding the highest number of crypto holders, with the USA on top with 46 million crypto holders. Source 
  • 2022 was the biggest year for digital-asset heists as crypto hackers stole more than $3 billion worth of cryptos.
  • One of the world’s largest cryptocurrency exchanges, FTX, shocked the crypto world and investors when they filed for bankruptcy.
  • The two most popular and largest cryptocurrencies, Bitcoin and Ethereum, lost around two-thirds of their value in 2022. Other popular cryptocurrencies also saw a decline in value.

ARTIFICIAL INTELLIGENCE

Artificial Intelligence by definition:
It is the ability of a machine or computer system to perform tasks such as learning, problem-solving, and decision-making, which usually requires human intelligence.
In simple words, Artificial intelligence is the simulation of human intelligence processes by
computer systems. 

How do businesses use Artificial Intelligence?

Definitely Artificial Intelligence has greatly impacted business this year, with companies of various
sectors implementing AI to automate tasks and increase efficiency. 
Also Artificial intelligence (AI) is used by businesses in various ways, like Automation, Predictive
Analysis, Marketing & Sales, Customer service, Cybersecurity etc.

How Businesses Used Artificial Intelligence in 2022

Credit:   Mckinsey & Company

AI in 2022 has promised endless opportunities and growth for businesses in the coming
future. Also the usage of AI capabilities in organizations has doubled from 2018 to 2022, with Natural
language generation, Deep learning, and Robotic process automation on top. 

In the Finance industry, some of the main AI capabilities used this year were Trading,
Personalized banking, and Fraud prevention.
Many AI-based trading platforms and Apps have emerged this year, leading to a massive
demand for these platforms. AI is also helping in personalized banking by improving
customer relationships, creating a financial plan, understanding the risk factors of specific
policies etc. Subsequently fraud prevention has been the main AI capability used by banks and fintech,
helping detect suspicious user behaviour and spending habits.   
Marketing also is one of those industries that was hugely impacted by AI, especially this
year. Marketing agencies and companies have already invested a lot of money in AI.
Marketing automation, Sales, CRM, Customer profiling, and even SEO have benefitted from
Artificial Intelligence.

Some of the main trends of artificial intelligence in marketing for 2022 are:

AI-Powered Content:

Many AI content generation tools have emerged this year for digital
marketers and SEO professionals to create website content.

Market segmentation and Targeting:

AI that segments audience using algorithms, user behaviour, and other metrics helping marketers create personalized and targeted ads.

Marketing automation:

 Some of the commonly performed automated tasks like email and
chatbot automation, audience segmentation have saved a lot of time for marketers. Marketing
automation also helps in managing campaigns across channels and auto-scheduling messages.

Data Analysis and Insights:

AI can collect different data types, gain smart insights and help marketers make better campaign decisions too.

Artificial Intelligence in Logistics:
Automated warehouses were robots, and automated vehicles carry out the transportation of
goods. Companies are manufacturing fully automated warehouse replacing humans with
hundreds of robots, reducing overall costs.   

Automobile:
Automobile company Tesla has already produced self-driving cars a few years back. Subsequently 2022
has seen more companies coming forward to produce autonomous vehicles and a lot of
autonomous vehicle startups. 
 
Healthcare:
Obviously AI is being used in healthcare for diagnosis and treatment, drug discovery, patient care,
clinical decision support, etc. and has shown a lot of potential in transforming many aspects
of healthcare, improving its efficiency and effectiveness. Moreover the algorithms and systems that help in
chronic ailments detection and treatment and personalized healthcare have already become a
reality.

NFT

What is exactly is NFT? How does it work?

Non-Fungible token (NFT) is a digital/virtual asset built on decentralized blockchain
technology and represents ownership of a unique item or asset.
NFTs became popular earlier this year, and users often used it to represent ownership of
digital assets, such as art, music, videos, and collectables. NFT provides a secure, verifiable
way to prove ownership of digital assets. Celebrities around the world in different industries
used NFTs to sell their digital artworks and collectables for millions of dollars, and some
musicians released their music as NFTs.
The Downfall of NFT and Its Causes.
NFT started declining soon after the crypto crash in May – June 2022. According to source,
Dune Analytics, the trading volume dropped from a record high of $17 billion in January to
$466 million in September.

What Caused the collapse?

  • As mentioned above, the crypto crash was one of the first and foremost reasons for the NFT collapse. The May crash affected the NFTs, too, wiping out billions of dollars from the market.
  • NFT scams – The marketplace is also filled with individuals selling fake and ridiculously priced NFTs, stealing the work of others and representing it as their own.
  • The industry’s failure to innovate beyond using an NFT as a profile picture on social media prevented new users from entering the market.
  • No clear use cases for NFTs in the real world – NFT works well for digital arts, but the same cannot be said about digital assets. What are you going to do with a bunch of digital assets like clothes or sneakers?
  • NFT is basically for the rich to become richer. Lack of diversity and inclusivity in the NFT marketplace, with many sales being dominated by a small group of wealthy collectors.


These are some of the main reasons for the downfall of NFTs. There are also other reasons,
like high transaction fees, Environmental consequences.

METAVERSE

What is Metaverse?

Metaverse, in simple terms, is a virtual shared space where people can interact with each
other and with digital objects and experiences in a way that is similar to the real world.
It is a shared immersive word created by converging virtually enhanced physical reality and
physically persistent virtual space, including the sum of all virtual worlds, augmented reality,
and the internet. Metaverse is facilitated by the use of virtual reality and augmented reality
headsets.
However the Metaverse concept emerged in late 2021 and dominated the internet landscape
throughout 2022.


Metaverse And Its Future

The Metaverse is considered as the next evolution of the internet, where people can access
information, communicate with each other, participate in immersive experiences and interact
with digital objects and environments.
When it comes to business, Metaverse can potentially shape the future of companies in the:

Virtual Meetings/Events: The Metaverse could become a platform for virtual meetings and
events, allowing businesses to hold meetings and conferences in virtual offices where
attendees can enjoy a high-quality and similarly engaging experience.

Virtual retail: The Metaverse can take e-commerce to a different level by providing a new
platform for e-commerce businesses to create immersive shopping experiences and sell
products and services to customers.


Virtual real estate: The Metaverse could become a platform for virtual real estate, with
businesses buying and selling virtual properties and using them for various purposes, such as
virtual offices, training facilities, and event spaces.

Virtual training and education: The Metaverse can provide interactive and immersive
learning experiences through virtual training and education to employees and customers.

CHATGPT

ChatGPT was launched by OpenAI in November this year and became hugely popular among
tech industries for its amazing capabilities and Conversational style responses to queries.
ChatGPT took the internet by storm because of its ability to accomplish various tasks and
answer any questions put forward by the users.

What is ChatGPT?

ChatGPT is an AI Chatbot developed by OpenAI that uses Natural language processing
(NPL) to generate human-like responses to queries
. It can write and debug codes, answer
questions, solve mathematical problems, write detailed essays etc.
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What are some amazing capabilities of ChatGPT?

  • Write and debug Codes- ChatGPT can write codes for your websites or Apps and debug them too.
  • Mathematical Calculations- It can do mathematical calculations and solve problems.
  • Write essays and articles: It can write detailed essays and articles based on any topic you give
  • Personal Assistance Tasks- ChatGPT can even be your AI assistant and do tasks like sending emails, suggesting ideas, creating diet plans etc.
  • Create a marketing plan- Ask it to create a marketing plan or a strategy for you; ChatGPT will come up with one in just a matter of seconds.

Other amazing ways the internet uses ChatGPT are by generating AI prompts, explaining complex concepts in simple words, SEO tasks, etc.

ChatGPT received positive responses from the tech world, but it is important to note that it also has a few limitations, which the creators mentioned. ChatGPT can create a lot of impact not just in the tech world but also in other domains like marketing in the future. The AI tool is currently free to use, so make sure you try the tool out before it gets monetized.

SOCIAL MEDIA

Social Media in 2022

The Social Media landscape is everchanging, and 2022 was no different. A lot of new trends
emerged in 2022 across several social media platforms. 


 Short form videos

Instagram reels and short videos on other platforms are still the most preferred and engaging
format in 2022, with influencers and brands prioritizing it in their social media strategy.
Because of the high engagement rate, almost all major platforms have their own short video
format. 
 

Brand Invest More in Social Commerce
 

Buying and selling products or services on social media platforms is called Social Commerce.
More than 70% of brands have already committed to social commerce, including small
businesses and enterprises. People purchasing products and services from social media have
seen huge numbers this year and are expected to grow next years, inspiring the major social
networks to invest in social commerce.

Livestream shopping

The livestream shopping e-commerce trend is becoming quite popular on social media. One
of its reasons was the ongoing pandemic that fueled its growth since brick-and-mortar
shopping wasn’t as available as before. Apparel and fashion, Beauty, and Consumer
electronics are the top categories in Livestream shopping. Livestream shopping is already
hugely popular in China.
The way Livestream works is that brands and influencers go live through an app, describe the
model and its features, and test various products for their audiences. People who watch these
live shows get to share any concerns they might have regarding the product and have the
option to purchase the products from the platform itself.
Livestream is very effective because it creates a sense of urgency among the audience,
tempting them to buy the products immediately. Several leading e-commerce platforms have

already started working on this feature, with Amazon recently rolling out a Livestream
shopping feature in the US.

AI in Social media


AI is taking over social media, too, as many AI-powered features are emerging on several
social media platforms.
AI tools like ChatGPT and Jasper are helping content creators and influencers curate content
and strategy ideas, while AI art tools like Midjourney are used to create stunning visuals for
social media.
We will see more of AI in the coming years, and it indeed will create a lot of impact on social
media.

tech

Get started

You must have heard about the ChatGPT Artificial Intelligence tool that accomplishes various tasks commanded by users. Let’s dig deep into it and see what ChatGPT exactly is and what it can do. 

So, what is this ChatGPT that got everyone excited? 

ChatGPT is a Natural Language Processing AI chatbot that can chat with you, answer questions, create content, write code and debug, take tests, manipulate data, explain and tutor. It is developed by OpenAI and is the improved version of GPT-3. 

This prototype model interacts conversationally, making it possible for it to answer follow-up questions, challenge incorrect premises, admit its mistakes, and reject inappropriate requests from users.

Who created ChatGPT? 

OpenAi created ChatGPT, an artificial intelligence research company co-founded by Elon musk. ChatGPT was launched in November 2022. 

What all tasks can ChatGPT do, and what are its main features? 

ChatGPT can do tasks like writing essays, answering questions, explaining concepts, taking challenges put up by users, making workout plans, automate manual tasks. It can even generate codes for you to build websites or Apps from scratch. It doesn’t mean they will build a Facebook clone for you. 

Here are some of the amazing tasks that ChatGPT does:

1.) Write Essays and Blogs

You can command to generate an article or a blog about a topic of your choice, and it will create one for you in seconds. Since ChatGPT is a natural language processing AI tool with full context awareness, the article it generates is natural and human-like. 

2.) Answers Questions

ChatGPT will have an answer to any questions you ask about literally any topic. Ask it to tell a bedtime story for kids, ask it about diet plans or explain any topic in simple words; ChatGPT will do it for you. 

Do keep in mind that it will refuse inappropriate requests and harmful instructions. 

3.) Explain Complex Concepts

You can ask it to explain complex concepts like you are a 5-year-old, and it will come up with the easiest explanations. Just make sure to add “explain like I’m 5” to your question.

We asked ChatGPT to explain some common concepts in simple words, and the results were amazing. 

4.) Helps write code and debug it

Source: Chatgpt 

ChatGPT can generate code to build websites and apps from scratch and even help to debug. Users with no coding background created Twitter bots with the help of this amazing AI tool. 

5.) Generate AI Prompts

Twitter Link :

Chatgpt can generate AI Art prompts, and users use it in Mid journey to create stunning AI Arts. 

Here are some of the arts generated using ChatGPT concept ideas:

6.) Track your fitness and Create Diet Plans

Twitter Link:

 You can create a workout and meal plans, ask for suggestions on calorie intake, and make a grocery list on the top of ChatGPT. It can also create a specific plan according to your requirements and goals, whether Workout or Calorie targets.

7.) Personal Assistance service

Chatgpt can also be your assistance. It lets you automate manual tasks like writing and sending emails and messages, getting quick queries, suggesting ideas, sending WhatsApp messages using third-party libraries etc. and much more. 

8.) Create a Marketing/SEO Plan

The AI can even create a marketing or SEO plan for you. Any marketer would take hours to develop a decent marketing or SEO plan, and this AI did it in a few minutes. It can even give you content ideas and keyword lists and generate metadata for your websites. 

But it’s unclear how good these plans are or whether they can replace marketers. Too early to tell. But AI will change marketing and SEO forever. 

Which company owns ChatGPT?

Chatgpt is developed and owned by OpenAI. 

 

Who is benefitting most from this AI tool?

Most of them are programmers and people from tech backgrounds who are making maximum use of this tool as they can generate and debug codes, automate tasks, create bots and more. Even marketers and Content writers are getting their tasks done in minutes which generally takes them hours, like creating content, performing keyword research, making marketing plans etc. 

Is ChatGPT free?

Currently, ChatGPT is in a research phase and is free to the public to get the user’s feedback and learn about its strengths and weaknesses.

Chatgpt for SEO & Things you should know about it. 

SEO marketers are already using the AI tool to create SEO strategies, perform keyword research, curate blog topic ideas, and even create content for the website. 

But is it advisable to use content created by AI?

According to the Search Engine Journal, Google has spent years researching and developing algorithms that can detect AI-generated content. 

Also, Google has clarified that AI-generated content violates Google’s guidelines.  

What is the best way to use ChatGPT or any AI for SEO?

Since autogenerated content generation using AI violates google guidelines, the best way to use AI for SEO is for research and analysis purposes. You can use it for keyword research, generating ideas for your blog, or getting SEO strategies and marketing plans. 

What does ChatGPT mean for programmers?

Developers have benefitted the most from this tool. They are saving their time by using ChatGPT to write code for them, and one of the most useful parts is to help find and debug flaws in your code which is a timesaver for programmers. It also can write code in any programming language you tell. 

People with non-programming knowledge are using it to write codes to build websites and apps independently. 

With the introduction of ChatGPT, it’s clear that this AI will have a lot of impact on the programming industry and will change it forever. 

Limitations of ChatGPT

OpenAI has mentioned the limitations of ChatGPT on its official website.   

Here are some limitations users pointed out in ChatGPT:

Giving inaccurate and wrong answers

Programming Community Stack Overflow has banned ChatGPT, saying that the average rate of getting the right answers is low and answers generated from ChatGPT and posting it to their site can harm them. 

Users have also pointed out some inaccuracies in mathematical explanations. 

Problem of Bias

Users have also pointed out bias issues in the AI bot, saying it generates discriminatory results. This is something OpenAI should address and work on in the coming future. 

What is the difference between ChatGPT and Google? 

First of all, Google is a search engine, and whatever content we see on google is written and published by human beings, and Google indexes all these contents and ranks the one that it thinks is best for users. 

Meanwhile, ChatGPT is an AI chatbot trained on data and provides information based on the data that is trained into it and cannot access the internet like a search engine. ChatGPT generates original results using Artificial Intelligence, not by indexing information from the internet.  

Can ChatGPT replace google? 

No. ChatGPT won’t replace google; it’s not made for that purpose. The purpose of ChatGPT is to provide accurate and useful information based on the data being trained into it. 

Here’s how ChatGPT has responded to whether it will replace google. 

Conclusion

It’s clear that ChatGPT will create a lot of impact in the coming future and will make work a lot easier for people working in different fields. 

But they do come with some limitations, as mentioned by OpenAI, and it’s a matter of time until they work on solving them and making them better tool than it already is.