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A startup financial model can be defined as a numerical representation of a startup’s goals. And the process of building a financial model for a startup is termed as startup financial modelling. It consists of several steps, from gathering the key metrics and assumptions to helping the startups fundraise. A good financial model is a prerequisite for every startup before approaching VCs and HNIs for fundraising. Further, having a good financial model will also help startups build a sustainable financial future.

Importance of startup financial modelling

  • Building a sound financial model helps new entrepreneurs to find out whether they can turn their ideas into a sustainable operating business. 
  • It also helps startups quantify and validate their business plan and business models cost-effectively.
  • It helps startups get an idea about their fund requirement when they are in need of funds and the rate at which the business will possibly scale.
  • Financial modelling shows the actual financial state of a startup and provides the investors with the proper insight into its real-time financial position.

Types of financial model

Most financial models focus on valuation while some other models focus on calculating and predicting risk, the performance of the portfolio, and economic trends that are specific to an industry or region.

Following are the common corporate financial models that are relevant for startups;

  1. Three Statement Model: As the name suggests, this model links three statements, namely income statement, balance sheet and cash flow statement, to integrate them into one dynamically connected financial model using formulas in excel. One of the main purposes of this model is to forecast the financial position of a company as a whole. Often this model is used as a base for other financial models that are more complex such as Discounted Cash Flow Model, Merger Model, Budget Model etc.
  2. Budget Model: Budget Model focuses on the income statement. Usually, this model is prepared by considering the monthly or quarterly figures. This model is mainly used by businesses to compare their current performance with their future financing goals.Sales, expenses, cash flow, equity and asset replacement etc are some of the financial factors considered by this model. Budget model also enables to perform the financial modelling in Financial Planning and Analysis (FP&A) to arrive at a budget for the next few years, usually in the range of one, three and five years. 
  3. Forecasting Model: As the name implies, this model is used to predict the possible outcomes relating to various aspects like demand and supply, sales, consumer behaviour etc. The forecasting model sometimes uses the budget model to compare. After analyzing its output, both models are combined into a single workbook or sometimes they may arise to be entirely different.
  4. Discounted Cash Flow Model: Discounted Cash Flow Method is used to arrive at the present value of an investment/company or cash flow. It is done by correspondingly adjusting future cashflows to the time value of money to reach the present value of an asset  or investment in a business. And this is done by considering multiple factors like inflation, risk and cost of capital to estimate the forecasted free cash flows, which are further discounted back to the present fair value. 
  5. Merger Model (M&A): The merger model determines whether a benefit exists from amalgamation. It represents the analysis of two companies brought together through the M&A process. It determines the possible impact of two companies getting merged or one company taking over another. Two main steps in building a merger model include M&A model inputs, assumptions relating to the model, model analysis and outputs.

Apart from the above five models, other types of the financial model include;

A)Initial Public Offering (IPO) Model: Financial professionals like investment bankers mainly use IPO Model for valuing their business before going public. Based on an assumption regarding how much investors would be willing to pay with regard to a company in contention, this model equates to the company analysis. And valuation as per this model includes an IPO discount to ensure better performance of stocks in the secondary market. 

 B) Leveraged Buyout (LBO )Model: The LBO Model aims to evaluate leveraged buyout transactions, i.e., acquiring a company funded with significant debt. One of the main advantages of this model is that it helps investors assist the transaction and earn risk minimized internal rate of return (IRR). As an advanced form of the financial model, LBO requires debt schedules for doing the modelling. some of the unique elements of an LBO model includes;

  • A higher degree of leverage
  • Multiple portions of debt financing
  • Issuing of preferred shares
  • Management equity compensation
  • Operational improvements targeting the business

C) Sum of the Parts Model (SOPT): As the name implies, this model integrates numerous DCF models by adding them together. In short, SOPT states the process of valuing each segment of a business and correspondingly adding them up to get the total Enterprise Value (EV)or Firm Value. Further, this model can also be used in parallel with other techniques like Discounted Cash Flow modelling and comparable company analysis. This mode is not suitable for all businesses, but it’s very useful for;

  • Companies having different business segments or divisions
  • Companies having distinct assets
  • Conglomerates or holding companies with different companies 

D) Consolidation Model: This model integrates several business models into one single model. A consolidation model combines the financial statements of two or more entities to build a consolidated financial statement. This type of model belongs to reporting model category of the financial model. 

E) Forecasting Model: As the budget model, the forecasting model is also used in FP&A to do a forecast that compares to the budget model. This type of model also belongs to reporting model category of financial modelling.

F) Option Pricing Model: The option Pricing model is part of the pricing model category of financial models. Two main types of option pricing models include binomial trees and Black-Sholes. This model is entirely based on mathematical financial modelling rather than specific standards.

KEY INPUTS TO A STARTUPS FINANCIAL MODEL

Following are the six main inputs to building a sound financial model for a startup;

  1. Revenue: Revenue serves as the first input that goes into a financial plan. For a startup, revenue forecast might be tricky as there have been no sales in the past. The revenue forecast is commonly done by a combination of top-down and bottom-up methods. Forecasting revenue also depends on the business model. But for a SAAS platform, revenue forecasts based on existing customers, new customers and churn rates are much more suitable. 
  2. Cost of goods sold (COGS): COGS includes all costs incurred by a company in delivering its products or services. And this will defer based on the company’s offerings, i.e. if the company sells tangible goods, COGS includes the cost of materials involved in manufacturing the product. But for a service-based company, COGS consists of the personnel costs for the employees delivering the same. Further, for a SAAS company, COGS covers hosting costs, onboarding and customer support costs and online payment costs. COGS forecast might sometimes depend on the business model. Forecasting the same based on a total level like a month might sometimes give more sense. 
  3. Operating expenses (OPEX): The general expenses incurred by a business to run on daily basis are termed as operating expense and include all costs associated with sales and marketing, research and development and general and administrative tasks. And preliminary expenses relating to a startup usually include legal fees, travel costs, costs relating to payroll, IT costs, office supplies insurance, patent cost etc. 
  4. Personnel: Here, an analyst forecasts the number of employees hired along with their respective salaries, payroll taxes and perks provided, if any. To make this step easier, an analyst may split the personnel into different categories like;
    • Direct labour: Includes all employees who are solely engaged in producing goods sold or services delivered.
    • Sales & marketing: It includes employees who are part of the operating expenses of the business, such as sales managers, marketing managers, social media experts, copywriters etc.
    • Research and development: These employees are also part of operating expenses and include R&D managers, software engineers, technicians etc.
    • General and administration: These employees are also part of operating expenses and include back-office and C-level personnel like CEO, CMO, CFO, Secretaries etc.

      Further, to check whether the personnel forecast is realistic, divide projected revenues in a given year by the number of employees for that year. Doing this will give an idea about the company’s revenue per employee and provide a basis for comparison with competitors and other industry leaders.
  5. Investments in assets/ Capital expenditures: Capital expenditures or, in other words, investments in assets account to be the fifth input to a startup’s financial model. It denotes the fund utilization by a company to acquire or improve physical assets, infrastructure, intellectual property, buildings and other equipment. And these are incurred by a company to sustain or enhance the scope of its operations. For startups, such expenses include investments in computers, office equipment, machinery etc.
  6. Financing: Financing is the final input into a startup’s financial model, which includes financing streams such as equity, loans, or subsidies. This is done to know about the possible impact of the company’s funding need by adding different types of funding in different years of mode.

Four other supporting elements for a startup’s financial model

  1. Working capital: Working capital is one of the essential elements for a startup as it denotes both efficiency and its short-term financial health. It has a significant effect on the cash flow of a company. If a company’s current asset does not exceed current liabilities, then it can result in bankruptcy. Working capital usually appears on the balance sheet and is calculated based on the number of days the company’s sales and payable are outstanding and the number of days the company holds its inventory before selling it. Thus financial model should essentially include a sheet for calculating the working capital based on revenues, COGS and days outstanding.
  2. Depreciation: Value reduction in a company’s assets is commonly termed as depreciation. It is calculated based on an asset’s value and its useful lifetime. It appears on the P&L and has an impact on the value of assets on the balance sheet.
  3. Taxes: Every company is obliged to pay yearly taxes on its financial results, commonly termed corporate income tax. To include tax carryforwards into financial models, a separate tax scheme is required for the model. 
  4. Valuation: The purpose of every startup building a financial model is for fundraising. And the process mainly includes negotiations with investors regarding the company’s valuation to be invested in. Most startups are valued using Discounted Cashflow Method (DCF). And this method estimates the value of a company based on its future performance. This method best suits for startups because they have not yet realized any historical performance but expect good earnings in the future. But the main downside of this method is that valuation through this method is highly sensitive to the input variables used to calculate the valuation.

How to build a financial model for startups?

There are mainly two approaches to building an effective financial model for a startup, namely;

  • Top-Down Approach: This approach estimates the company’s future performance, starting from market data and working down to revenue. Here an analyst will first determine the total market value of the product and, as much as possible narrow it down to a particular location. And based on the assumption that the product will capture a distinct portion of the target market and further use this estimate to arrive at a sales forecast. Thus in this approach, the forecast is done by considering the market share that the startup is planning to capture within a specific timeframe. And this approach is mainly done by using the TAM SAM and SOM model. TAM SAM SOM model considers market size at three different levels;- 
    1. Total Available Market (TAM) defines the total market demand for the product or service.
    2. Serviceable Available Market (SAM) – Serviceable Available Market is that part of TAM that represents the niche market for the product within the geographical area.
    3. Serviceable Obtainable Market (SOM) – SOM is that part of the market that the business can capture. Thus SOM represents the sales target since it represents the share of the market that the company aims to capture.

      Once the sales target is defined using the TAM SAM SOM model, the next step is to calculate all costs associated with manufacturing and delivering the products or services and all expenses relating to various aspects like sales, marketing, general and administrative tasks for the business to run sustainably. And all these costs should not exceed the revenue targets to arrive at a positive EBITDA. 
  • Bottom-Up Approach: This approach considers business-by-business or sector-by-sector fundamentals, thereby helping an analyst identify the profitable opportunities for a startup and perform its valuation compared to the market.

What are the possible outcomes of a startup’s financial model?

The three main possible outcomes of a startup’s financial model are as follows;

  1. Financial statements: A sound financial model must essentially include a forecast of three financial statements, i.e. the profit & loss statement (P&L), the balance sheet(BS) and the cash flow statement(CF). And these statements are used to communicate the financial information across various stakeholders like banks, investors, governments, and others interested in understanding the financial performance of a firm or startup. P&L gives insights into all incomes and expenses generated by a company over a specific period of time and indicates whether the business is profitable or not. Whereas the balance sheet gives details about everything that the company owns and owes at a specific time. Further, a cash flow statement shows the information on all cash inflows and outflows of a company. It consists of three different parts; Operational cash flow, investment cash flow and financing cash flow. Operational cash flow denotes cash inflow and outflow relating to core business operations. Investment cash flow shows cash flow resulting from investment activity. Whereas financing cash flow means cash changes resulting from financing activities. 
  2. Operational cashflow overview: It is good to forecast the financial statements every year for fundraising. But for the financial management of a company on a daily basis, it is helpful to include operating cash flow for the coming 12 months in the financial model. To create an operational cash flow forecast, list out all categories of cash inflows and outflows, add a starting balance and check what remains at the end of every month.
  3. KPI overview: Another common output of a startup’s financial model typically includes Key Performance Indicators (KPIs) of some companies or KPIs relating to specific sectors. KPI is not only important for investors, but it might also be necessary for company owners. These metrics can track company performance, experiments relating to different acquisition channels, cost structures, business models etc. Further, KPIs can be of different types like KPIs showing sales and profitability, cashflows and raising investments or even KPIs that are specific to a company or industry.

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EBITA

EBITA simply means Earnings Before interest, taxes and amortisation. Investors commonly use this acronym to measure the profitability and efficiency of a company and compare it with companies of similar nature. The term includes all costs associated with the capital assets, i.e. depreciation, by excluding associated financing costs and the amortisation of any intangible assets, making it an accurate metric for measuring a company’s profitability. Further, it can also compare with EBIT (Earnings Before Interest and Taxes )and EBITDA (Earnings Before Interest Taxes Depreciation and Amortisation) to get a better insight into the company’s earnings.

EBITDA

The financial metrics that measure a company’s overall financial health are commonly termed EBITDA or Earnings Before Interest Taxes Depreciation and Amortization  (EBITDA). Often, EBITDA is used as an alternative to other metrics like revenue, earnings, or net income of a business. This metric excludes all expenses associated with debt and adds back interest expenses and taxes to earnings. It can be used to compare the profitability of different companies and industries since it eliminates the effects of financing and capital expenditure. Further, this metric is also used in the valuation process and can be compared to enterprise value and revenue. Currently, EBITDA is widely used by bankers to estimate the debt service coverage ratio (DSCR), a ratio that is explicitly used for business loans to measure the cash flow and ability to pay. Moreover, analysts and investors use EBITDA to get an idea about the company’s actual earnings, and it gives a picture of the company’s total amount in hand for reinvestment or to make payments as dividends.

Components of EBITDA

Earnings: It denotes the amount of money that the company brings in over a certain period of time. The amount of earnings can be determined by simply subtracting the operating expenses from the total revenue.  

Interest: It is simply the cost of servicing a debt. Generally in EBITDA interest is not deducted from eranings. 

Taxes: As the name says EBITDA stads for Earnings Before Interest Tax Depreciation and Amorisation. Therefore tax expenses is not accounted while determining the EBITDA value.  

Depreciation and Amortization: The amount of depreciation and amortization are added back to operating profit to arrive at EBITDA.

What is a good EBITDA?

An EBITDA with a 10% or more margin is generally considered good. This can be understood better with the help of an illustration;

While considering two different companies, namely Company A and Company B, with their EBITDA of $600,000, total revenue of $6,000,000 and an EBITDA of $ 750,000 and total revenue of $9,000,000, respectively. And this indicates that B company demonstrates a higher EBITDA than A company. (8% against 10%). And looking at this data, company B might appear more promising to a potential investor.

FORMULA AND CALCULATION

Usually, EBITDA is calculated by using two formulas, i.e.;

 EBITDA = Net income + Taxes + Interest expense + Depreciation & Amortization

Or

EBITDA = Operating Income + Depreciation & Amortization

EBITDA is estimated by straight forward method simply by considering the information provided in the company’s income statement and balance sheet. The first formula uses the net income to calculate EBITDA by adding back interest and tax expenses. In the second formula operating income is calculated by subtracting daily operating expenses. This method helps the investors to get an idea about the exact earnings of the company by excluding interest and taxes. But it should be noted that EBITDA calculations via two different formulas will provide you with two different results since net income includes line items that might not be included in operating income, such as non-operating income or one time-expenses.

USE CASES OF EBITDA

EBITDA represents the cash flow and gives a quick overview of the total value of a company. Thereby helping the investors to understand whether a company is making a profit or not. Moreover, most private equity firms use these metrics to compare similar companies in a particular industry to understand a company’s performance compared to its competitors.

EBITDA is commonly used in valuation and helps stakeholders, especially investors, understand whether a company is overvalued or undervalued. And such comparisons are essential as different industries exhibit different average ratios. It also reveals the operating profitability of the business. Thus, EBITDA helps investors know the company’s net income even before interest, taxes, or depreciation is accounted for. 

In some cases, EBITDA is very similar to the PE ratio (Price-to-Earnings). But compared to the PE ratio, EBITDA is neutral to capital structure and lowers the risk factors associated with capital investments and other financing variables.

EBITDA is often used in financial modelling to calculate un-levered free cash flow.

EBITDA MARGIN AND HOW TO INTERPRET IT?

The EBITDA margin is a profitability ratio that measures a company’s earnings before interest, tax, depreciation, and amortisation as a percentage of its total revenue. And there are mainly two types of EBITDA- Higher EBITDA margin and Lower EBITDA margin. A higher EBITDA margin is considered more favourable because companies with higher EBITDA margins produce a higher profit. 

Higher EBITDA margin: Higher EBITDA margin is considered more favourable because companies with higher EBITDA margins are producing a higher amount of profit. 

Lower EBITDA margin: Lower EBITDA margin implies the presence of an underlying weakness in the company’s business model, like ineffectiveness in sales & marketing, targeting the wrong market, etc.

STEPS TO CALCULATE THE EDIBITA MARGIN

The following steps should be followed to arrive at the EBITDA margin;

  1. To begin with, the revenue, cost of goods sold (COGS), and operating expense from the income statement are gathered.
  2. Then consider the depreciation and amortisation (D&A) from the cash flow statement and any other non-cash add-backs. 
  3. Determine the operating income by subtracting COGS and operating expenses and adding back D & A.
  4. Finally, divide the EBITDA value by the corresponding revenue figure, and the resulting figure is your EBITDA margin for each company.

WHY IS IT IMPORTANT TO CALCULATE THE EBITDA MARGIN?

Calculating EBITDA margin helps companies to;

Compare against its historical results, i.e., the previous model’s profitability trends.

It helps to compare a company’s performance with competitors in similar industries or relatively similar industries.

IS EBITDA THE SAME AS GROSS PROFIT?

Gross profit and EBITDA are not the same. Gross profit denotes the amount of profit a company makes after subtracting the cost associated with making its product or offering its services to its customers. In contrast, EBITDA shows a company’s profitability after deducting interest, taxes, depreciation, and amortisation. Thus EBITDA and gross profit are not the same since it measures the company’s profitability by exempting different items or cost.

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A business plan template is a standardised document that helps a business planner to write a detailed business plan. A viable business plan must cover the following topics: introduction, executive summary, company description, and marketing plan. And for writing this, a business planner can use a good business plan template to create a well-organised business plan as per the client’s requirement.

A good business plan template must have the following ten key elements;

A well-designed business plan not only helps to articulate a strategy for starting a business and to pitch the right kind of investors but also shows the clients that we spend considerable time thinking about the potential issues the business might face and also ask them detailed questions surrounding economics and fundamentals of the client’s business model in order to provide valuable suggestions and feedbacks. Thus it’s understood that a well-written business plan is critical for any startup in the event of fundraising.

 While writing a one-pager is almost a layman’s cup of tea, but when it comes to technical writing, it requires deeper knowledge about the subject and needs to follow a specific writing format. A good content writer must essentially be a good wordsmith. Content writing is definitely not a layman thing; it demands good writing skills to achieve required goals and to influence the target audience. While understanding the target audience is essential for all types of writing, but things might be different when it comes to technical writing. And influencing the target audience is never an easy task. Because knowing your audience determines what information you present, how you present it, and also how you structure your entire writing. The possible audience for a business plan might be micro Venture Capitalists and HNIs (High net-worth individuals). Currently, startups in our country are highly in need of qualified technical wordsmiths for them to pitch the kind of investors. And Scaalex, as a team of highly driven domain experts, takes no chance to compromise on the quality of our deliverables. Till now we have closely worked with 270+ startups by helping them in the event of fundraising. As domain experts, we stand out for in-depth market research, thereby helping the new entrepreneurs in designing a good business plan. If you think you are one among the startups who lack adequate market insights, we are here to attain you with exceptional execution and fundraising results.

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What is Business Plan

A business plan is a standardised written document outlining the company’s organisational, financial, and operating framework. A good business plan gives potential investors the right insights into the company’s current state and how it becomes an investment opportunity in the future. A good business plan is a prerequisite for any startup to begin with and to attract more investors. In short, a business plan conveys the business goals, both short-term and long-term, strategies used to achieve this goal, the problems and the competition that a business might face and ways to overcome them, the overall organisational structure, marketing and positioning strategy and the amount of fund required by the company to sustain for a long run.

For most startups business plan serves as a dual-purpose document used internally and externally.

Importance of a business plan

  • • To set KPIs and benchmarks: Having a good business plan helps the company frame its goals and benchmarks more precisely by aligning with its long-term vision and strategy.
  • Decision Making: A viable business plan help entrepreneurs to make critical decisions regarding its core strategies and helps them understand how those decisions will impact the overall business.
  • Roadmap Planning: A good business plan describes what the business intends to be doing overtime through a detailed description of the customer, market, competitors, and current and future strategies.
  • Funding: Prospective investors and banks require the startups to prepare a detailed business plan for them to understand and decide whether the business has the potential to earn profits in the long run or not.
  • Partnership and alliances: A good business plan also helps in the smooth execution of the planned business models and enter into collaboration with the desired partners by explaining to them the roles and future vision of the company.

Types of business plan

  • Standard Business Plan: Standard business plan covers details like the mission, vision, financial statistics and the target audience, which is usually comprehensible for all parties like products vendors, VCs and investors, finance firms or even internal business members. One of the actual merits of this kind of business plan is that it describes the expenses in detail along with the information regarding profit and loss, cash flow and projected balance sheet.
  • Growth Business Plan: A growth plan gives insights into the proposed strategy, execution mechanism, various parameters and metrics to aid assessment and the necessary statistics and numbers. A well-defined strategy finds solutions to the identified problem, the target audience and how to approach them. Whereas an execution plan states the methodology to implement the strategy by elaborating each step of the process in detail. Metrics measure the current performance against the set benchmarks. Finally, the plan also includes reliable statistics, charts and tables to convince the investors of the projected growth.
  • Lean Business Plan: Lean plan is an optimised version of a standardised business plan and shares similarities with a growth plan. This kind of plan usually includes components like;
  • Strategy: This phase states what the company wants to achieve and how it will achieve it. Working in line with sound strategy helps the management from unnecessary waste of time and effort.
  • Tactics: Tactics are measures taken to make the strategy result in maximum efficiency
  • Assumptions, metrics and schedule: Assumptions without benchmarks are meaningless. And benchmark comes through the use of established milestones and metrics. Further, to ensure that things go as planned, it’s essential to follow the proper schedule.
  • Forecast: Financial forecast relating to sales, revenue and expenditures must be entirely accurate. And making basic predictions plays a crucial role in adding credibility to the business plan.
  • Reviewing: Once the business plan is completed, quality time be invested in reviewing the documents. There should be 3-4 rounds of iterations required to increase the efficiency of the business plan.
  • Internal Business Plan: Internal plan is similar to a lean strategy, but it delivers results within the organisation. It is not made available to investors or any other external entity; it is specific to the employees.
  • Operations Business Plan: This kind of plan defines the company’s annual operations by mentioning the deadlines and requirements for the financial year. Operations plans also highlight the KPIs (Key Performance Indicators) and KPAs (Key Performance Area) for employee evaluation, along with the milestones to be achieved.
  • Feasibility Business Plan: As the name suggests, it determines whether the proposed product or service will be feasible or not in the future. It also determines the potential investors, intended demographics and the recommendations required for the business to be ongoing.
  • OnePage Business Plan: A one-page business plan will be concise, defining the milestones, objectives, and actual numbers summarised within a page.
  • Strategic Business Plan: The strategic plan overlooks the financial description and focuses more on the strategy and tactics to achieve the objectives.
  • Contingency Business Plan: The contingency plan details the alternate course of action if the primary strategy fails because the probability of facing a loss is the same, just as the chance of being profitable.
  • Startup Business Plan: Often considered as a version of the lean plan, a startup plan is prepared by new businesses to attract VCs and investors.

Essentials of a good business plan

A business plan is essential for attracting investors and fundraising, but it also helps companies articulate their mission vision and plot their growth trajectory. As such, a business plan cannot be just a bulleted list; it needs to be a serious business document with the following size elements:

  • Executive summary: Executive summary should contain a brief overview of the entire business plan. This section is critical in a business plan because it decides whether the stakeholders will continue reading the project or not. It gives a brief overview of the business idea, the target market, goals, competition, USP, the overall team and the financial outlook for the business.
  • Company Description & Synopsis: This part of the business plan explains the company’s mission, philosophy, goals, industry and its legal structure, USP, i.e. the problem the company is solving for its customers and the solution which makes it stand out of the competition.
  • Market Overview: This section explains the current market scenario of the whole industry, covering aspects like the size of the market, trends, customers needs, competitor details Etc. with reliable facts and figures needed to substantiate the overall market scenario.
  • Customer Analysis: Customer analysis gives details regarding customers like customer demographics, geographics, psychographics, needs, wants, desires and buying habits Etc.
  • Product/Service Overview: This section gives a detailed overview of the product and services offered by the company.
  • Business Model: The business model gives an overview of how the company approach the market and how the approach is viable.
  • Revenue Model: It explains how the company is planning to make revenue through its business model by stating the expenses and revenue sources.
  • Competitive Analysis: It explains who are the competitors and their USPs and the strategies used by the company to tackle the competition.
  • Marketing Plan: This part explains how the company uses the above details in formulating and executing the marketing strategies. This part is crucial since it describes how the company plans to reach out to its customers and stand out from the competitors.
  • Management Team: Gives details of all board members, their qualifications, experience, and designations.
  • Funding & financials: It is the final and the essential part of a business plan, especially for startups, since it states the cost of the execution of the business plan. It also includes all short-term and long-term financial requirements, funding goals, and how the investors can help the company achieve them.

How does Scaalex come into the picture?

Most startups fail to raise funds from investors because new entrepreneurs don’t know how to execute the right numbers in financial models to validate that they are worth investing. Further, they are destined to struggle without proper market research, financial plan, business model and so on.

Scaalex is a team of highly driven domain experts and financial consultants. We closely worked with 270+ startups to build the financial projectionsvaluation report, business plan, and funding advisory. We stand for an expert team in-depth market search and also understand the expectations of new entrepreneurs. If you are one among the startups who lack adequate financial insights, reach out to us to attain exceptional execution and fundraising results!

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Online payments have become a part of our daily transactions in no time. India has Leading fintech companies who are provide payment gateway for startups. The payment gateway is a software that authorizes you to conduct an online transaction through different payment modes like debit card, credit card, UPI, net banking. It acts as a technology partner between the customer and merchant, ensuring that confidential information such as credit card numbers entered on an e-commerce website is passed securely and promptly from the customer to the acquiring bank via the merchant. However a payment gateway service can be provided by banks directly or a payment gateway for startups as a service provider authorised by a bank. Thus they manages fraud and protects merchants from insufficient funds, expired cards, exceeding credit limits. The key players involved in the payment process includes the following:

  • Merchant: Merchant sells goods and services to the customers.
  • Customer: A customer or cardholder accesses the product or service offered by the merchant.
  • Issuing bank: Issuing bank is the customer’s bank that issues debit or credit on behalf of card schemes (visa or MasterCard).
  • Acquirer(Acquiring bank): It is the financial institution that maintains the merchant’s bank account.

Following are the Leading payment gateway for startups in India

1. Instamojo:

Instamojo is one of the most significant on-demand payment gateway for startups & retailers, and user-friendly dashboards started in 2012. It is a free payment gateway in India with no maintenance cost. It is super easy to set up for startups to sell and collect payments online across mobile and web without the requirement of any physical network. Any seller with a bank account can register at Instamojo and start selling digital goods and get paid. The bank account, phone number, and PAN card remain the only requirements. It reduces the gap between buyer and seller, thereby helping startups to find the right customers. You can download the Instamojo app via the play store on your android devices.

2. CC Avenue:

CC Avenue is one of the best preffered payment gateway for startups because it supports almost all banks and payment options. The company started in 2001, allowing customers to use major credit cards such as Visa, MasterCard, Diners Club, Amex. It has 200 +  payment options like Analytics, Audit, Multiple Currency Processing. It’s highly reliable, comes inbuilt with a dashboard and real-time analytics. With CC Avenue, you can get admission to services in the leading worldwide marketplace as it supports 27 major currencies. High-volume E-Commerce websites like Snapdeal, Myntra, Naukri uses it.

3. PayU:

PayU is fast to set up, allows you to upload documents directly onto their site for the verification process, and you can go live exceptionally quickly. When it comes to PayU, you will be offered different pricing packages. Each package has other characteristics such as store card features, IVR payment, Multi-currency gateway, payment analytics. PayU India rebranded both its products-PayU enterprise and PayU money to establish them as transparent independent businesses. Now, PayUbiz is used by large companies such as Snapdeal. PayUMoney is designed for small businesses and startups and comes with a wallet service, email invoice feature, a free website, and doesn’t require any technical knowledge. The platform is integrated with some of the top e-commerce players of the country, like Snapdeal and Jabong. 

4. DirecPay:

DirecPay is one of the most integrated payment gateways having simple registration and multiple payment options. It enables accepting payments through cash, cheques, demand draft, and online payments through different payment modes such as debit cards, credit cards, and internet banking. Our services offered Indian merchants access to this platform quickly and conveniently who conducted online business and contributed to a massive market for retailers desiring to sell online. Mainly, PolicyBazaar, Indiatimes, Google India, Paytm uses DirecPay.

5. Cashfree:

Cashfree is one of the cheapest payment gateways. It supports businesses to collect and distribute payments through different payment methods, including Visa, MasterCard, Rupay, UPI, IMPS, NEFT, PayTM & other wallets, Pay Later, and various EMI options. It offers the lowest TDR in India and has the fastest settlement cycle of 24 hours to 48 hours.  Cashfree is among the best free payment gateway for a website in India as it helps to analyze your website’s designation and offers pop-up, iframe, flawless sign-out methods. Moreover, it can also work as an International Payment Gateway.

6. RazorPay:

RazorPay is one of the topmost payment gateway for startups, founded in 2013 with headquarters in Bangalore. It’s super easy to set up and has a simple interface. One can easily collect domestic and international payments and access all payment modes like credit cards, debit cards, net banking, UPI, wallets. It also facilitates end-to-end money movement easier. Another attractive feature about RazorPay is sending customized emails to subscribers, reminding them about future payments or failed transactions. Further, it automates bank transfers, shares invoices, and provides working capital loans for its users.

7. Paypal:

Paypal is a globally recognized and trusted payment gateway. It can undoubtedly be the first choice for startups that expect a large number of international payments. Customers can use PayPal to transfer money to and from a bank account, get the working capital loans, receive payments. It is easy to request and send payments on the platform and allows customers to generate invoices and receipts. It also enables clients to pay in whatever method they want, like debit card, credit card, PayPal, PayPal Credit. Paypal facilitates phone transactions and also helps to integrate with social media accounts.

8. Stripe:

Stripe is a comprehensive payment platform that efficiently works with subscription businesses, brick-and-mortar stores, E-commerce websites, even virtual marketplaces. It facilitates transactions in more local currencies. It also has an isolated infrastructure for storing, transmitting, and decrypting. Stripe boasts of strict security and compliance, so clients need not stress over fraudulent transactions. This gateway makes it conceivable with its AES encryption. There are no setup fees, monthly fees, or hidden fees for using Stripe. It accepts SEPA Debit, SOFORT, iDEAL, and AliPay. Stripe can help you to reach customers all over the world.

9. Payoneer:

Payoneer is a payment gateway that allows you to receive mass payments from marketplaces and customers all around the globe. It is a swift,  secure, and cheap gateway that gives all the solutions for startups. It gives you an option of automatic fund transfer to your bank account at competitive rates. Compared to other gateways, Payoneer charges lower transaction fees. It supports around 200 countries and 150 local currencies. Once you get your funds from Payoneer, you can channel your funds to your bank account and withdraw them in your local currency.

10. Authorize.net:

Authorize.net is the leading payment gateway that consists of the most simplified payment process, enabling you to accept electronic and credit card payments quickly and efficiently anytime and everywhere. It comes with a free setup and low monthly gateway fees. It supports recurring billing, timely services to its clients, and many payment types like Visa, MasterCard, Amex, JCB. Authorize.net’s other services include simple checkout options, account updater, advanced fraud detection, customer information manager, online invoicing.

Since e-commerce is growing speedily in India, the selection of a good payment gateway is mandatory. Almost all startups have moved over to online payment options to reach out to the global market and make online transactions quick and easy for their customers. A good payment gateway can help to protect your consumers from any safety breaches and ensure a secure transfer of funds from the payment website.  Depending on the number of transactions, security of your site, and pricing, you can choose a gateway that’s best for your startup.

Before starting a new business, you need to organize many things, and having a startup checklist during this time would be fully useful. Our startup checklist blog discusses six major checklists to consider while launching a startup.

If you have any doubts regarding how to start a new venture, Contact us. We look forward to hearing from you!

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CRM stands for Customer Relationship Management. It is one of the first tools that every startup implements to grow to the next level. CRM refers to the combination of business software, strategies, and processes that helps to build long-lasting relationships between companies and it’s customers. This software ensures that every step of the interaction with customers goes evenly and efficiently to increase overall sales, customer service, and profitability. Some of the CRM features include customer data storage at one place, recording service issues, identifying sales opportunities, managing marketing campaigns. Good CRM software gives a better way to manage external relationships. Here are some best CRM’s for startups:-

1. Keap:

Keap, formerly known as Infusionsoft, is a web-based platform used by startups to focus on what and how to grow sales in business. Started back in 2001, the software integrates with 2500+ apps and also combines CRM, sales, and marketing in one platform without disruption. It helps track marketing pipelines and customer journeys, converts leads into customers, and automates repetitive tasks such as follow-ups, calendar booking, invoicing and payments, and more. Keap implemented its mobile app to capture every communication in one place and add details in every call and text. A 14-day free trial is available for Grow and Pro plans.

2. HUBSPOT:

Hubspot is an easy-to-use, scalable CRM software created to improve inbound marketing and sales, and business growth in all stages. The tool is entirely free so that you can get it without the overhead. The paid version comes with more stable features of CRM. It enables you to manage social media presence and content, track leads, company activities, and profiles, streamline sales funnels, record customer interaction across channels and other digital activities. It integrates with Zapier to share information across Slack, Google sheets, Facebook lead ads, etc. Hubspot offers a discount of up to 90% for eligible startup ventures.

3. STREAK:

Streak is the perfect CRM software for startups since every startup uses G-suite for sending emails, documents, etc. It directly integrates with Gmail so that users can access their work inbox and other tools at all times. Adding, editing, collaborating is as simple as a spreadsheet. It keeps track of leads, close deals, resumes, projects, and tasks to feature completion, schedule and send mass emails, and helps to maintain a business relationship with its partners. Streak offers a personal version free for individual use.

4. SALESFORCE:

Salesforce is the most widely used CRM software by startups that aims to connect companies and customers. It allows multiple features such as quick lead searches, tracking customer details in one place, forecasting sales management, excellent customer services, etc. Over 1,50,000 companies use this software, making a shared view of every customer. It integrates with powerful tools such as Outlook, Zapier and third-party platforms such as Facebook and Google.

5. NUTSHELL:

Nutshell is a sneaky and affordable CRM that offers the most advanced sales automation platform to integrate dozens of popular business software applications. It is a CRM tool that is simple enough for any team and sophisticated enough for any business. It helps sales teams of all sizes optimize their efforts and focus more on building relationships. With Nutshell, sales reps don’t have to worry about dropping a lead or not knowing which one to focus on. In addition to that, Nutshell also offers sales process and collaboration tools, email sync with Gmail and outlook.

6. ZOHO CRM:

Zoho CRM is easy to use with a simple user interface targeted at startups, including social media features, automation, etc. With Zoho CRM, startups can attract and retain customers, distribute personal invitations and undertake Customer Relationship Management at scale. The good thing about Zoho CRM is that it is the best budget-friendly CRM software out there that integrates with Facebook, Twitter, and google+ for reaching out and engaging customers at the right time. It allows users to effectively coordinate prospect information and offers marketing features to track visitors, lead scoring, sales signals.

7. PIPEDRIVE:

Pipedrive is one of the easy-to-use CRM software for startups. It is a flexible and result-oriented CRM designed to help startups get organized. The key idea behind Pipedrive is the sales pipeline. It focuses on the sales pipeline and activities you need to do next to move your leads through it. Pipedrive customizes data fields and workflow for distinct business processes. Pipedrive can access it 24* 7 from anywhere using any web browser or mobile apps. It provides users with excellent team collaboration and lead management. Further, pipeline CRM is well-known for being a simple, clean CRM and ideal for international business companies as it is available in a range of primary and minor currencies.

8. AGILE CRM:

Agile CRM is a full-featured sales CRM that offers its free version to up to 10 users. Startups can easily attach documents to companies, contacts, deals, and email in-app. It also allows social media integrations to publish and respond to post on social channels. Additionally, users can track website visitors to analyze customer behavior and providing them deals and offers according to their requirements. This CRM software integrates marketing automation, contact management, email, and real-time alerts, etc. Agile CRM will automate all upcoming voice calls and follow-ups by sticking an appointment calendar online.

9. INSIGHTLY:

Insightly is a cloud-based, user-friendly CRM platform for tracking contacts, projects, documents in a single interface. It offers excellent categorization and filtering of data and customizable reporting, which means Insightly provides customization options for structuring and assessing customers’ data and records, including capturing customized data, display, and validation. It integrates easily with other leading business systems such as Gmail, Outlook, Mailchimp, Evernote. Users can access Insightly on other platforms such as IOS, Android.

10. COPPER:

Copper is formerly known as ProsperWorks CRM. It is an easy-to-use and comprehensive CRM tool for startups that need a better way to manage leads and grow customer relationships. It integrates with Gmail and other Google apps. You can see information from all your email threads, past interaction all in one place. Copper reminds you to reach out to contacts and follow up deals. It also gains absolute data protection and security control through regular user access review, data encryption, vulnerability testing, etc.

One of the biggest challenges for startups is growth. CRM for startups is considered a powerful tool that caters to the particular needs of companies in the early stages of development. Hence, the importance of maintaining CRM is not an easier thing to neglect because, without customers, the startups will not make money and cannot exist. Get in touch with us for any query regarding the best CRM for startups. We will be ready to help at the earliest.

There are few free tools to smooth out the workflow process more efficiently. 12 major free tools for startup help you to know more about free tools that help you.

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The food sector never goes out of style as everybody needs to eat multiple times a day. It has always been a booming industry for innovation. Certainly this lively space that attracts passionate entrepreneurs to discover new ideas and build successful brands. The food startups in India are trying to attract customer’s hearts literally through their bellies. However, food startups in India should build technological processes to create innovative food products and ensure delicious and nutritious food. Here are the few best food startups in India:

1. FreshMenu:

Rashmi Daga (CEO) founded FreshMenu in 2014 with its headquarters in Bangalore. A delivery service provider made with the finest ingredients, namely farm fresh vegetables, fresh dairy, and meat products, and without trying to do re-heated and assembled food. It aims to deliver fresh food, including breakfast platters, burgers, sandwiches, wraps, Thalis, Continental dishes, Biriyani, dessert. The startup has raised USD 24 M in funds from investors. Currently, FreshMenu operates in Mumbai, Bangalore, New Delhi, and Gurgaon. They used to change their menu daily and deliver freshly prepared meals in just 45 mins at the customer’s doorstep.

2. Box 8:

Anshul Gupta and Amit Raj (IIT graduates) founded the Mumbai-based startup named- Box eight in 2012 as a small outlet in a corporate cafeteria. They prepare and deliver hot desi meals in wholesome boxes under 40 minutes at pocket-friendly prices. It offers desi-mixed food varieties like all-in-one meals, desi openers, biriyani, desserts, steak meals, salads, sandwiches, curries, paratha wraps, and more. They too offer meals late in the night till 1 am. Box 8 provides an online platform to browse through menus and place orders for delivery. It serves almost 22,000 meals across 100+ outlets in Mumbai, Pune, Bangalore, and Gurgaon.

3. Faasos:

Founded by Jaydeep Barman and Kallol Banerjee in 2004 and later incorporated in 2011. Faasos (also called food on demand) is an online food ordering industry owned by Rebel Foods. It operates in more than 15 major cities in India, with its headquarters at Pune. The company aims to provide a wide range of food items such as wraps, rolls, Frankies, rice bowls, meals, desserts, snacks. They take online orders and gets them delivered in no time. Certainly this food startup is a perfect example food chain that went from online to offline. Food aggregators like Zomato, Swiggy, FoodPanda are the direct competitors of Faasos.

4. Dine out:

Founded in 2012 by Ankit Mehrotra, Vivek Kapoor, Sahil Jain, and Nikhil Bakshi, Dineout is the largest dining platform headquartered at NewDelhi. The features include discovering safe and hygienic restaurants, get great discounts and offers, home delivery and takeaway, hassle-free reservations, pay restaurant bills to earn cashback. It has more than 2.5 M diners/month, listing over 35,000 restaurants in Delhi, Mumbai, Pune, Hyderabad, Kolkata, Chennai, Ahmedabad, and Bangalore.

5. Biriyani By Kilo:

In 2015, Kaushik Roy and Vishal Jindal started Biriyani By Kilo (BBK) with Gurugram as its headquarters. As the name suggests, it prepares and delivers biriyanis to the masses, and the varieties of biriyani include Hyderabadi biriyani, Lucknow biriyani, Kolkata biriyani. Biriyani is made using natural traditional dum style. Further, it provides a celebration menu, curries, kebabs, Metta, beverages, and drinks with authentic taste and flavors. It has received excellent responses from its customers since its inception.

6. Zomato:

Pankaj Chaddah and Deepinder Goyal founded Zomato in 2008, with headquarters located in Gurgaon (Haryana). It is a multinational restaurant discovery website and an online food ordering app available in 10 different languages. Zomato is the first food tech unicorn in India that connects customers, restaurant partners, and delivery partners to fulfill their multiple needs. Customers use this app to search and discover nearby restaurants, online ordering, table reservations. They provide industry-based marketing tools to restaurant partners to acquire more customers and also transparent job opportunities to delivery partners. It is focused on offering better food for more people before dining out. Also, the company has received funding of over USD 600 M from investors.

7. Swiggy:

Sriharsha Majety, Nandan Reddy, and Rahul Jaimini founded Swiggy in 2014, with headquarter’s located in Bangalore. It is one of the best food ordering and delivery companies in India. The delivery is super fast and provides free delivery on huge orders. Still food delivered is fresh and online, which makes it stand apart. Although Customers can also track their orders in real-time – It takes around 40,000 orders per day. Additionally The company name of Swiggy is Bundle Technologies Private Limited. Zomato, TinyOwl, Foodpanda are the core competitors of this company.

8. Swadhika foods:

Swarnamugi R Karthik founded Swadhika Foods in the year 2015, with its headquarters located in Chennai. Surely they are one of the leading suppliers and exporter of fine quality frozen cut fruits and vegetables and frozen ready-to-eat/cook foods, offering customised packing delivery according to International Standards and facilitates modern research and development. Because the products are 100% natural and free from preservatives and synthetic colors certainly they stand out. The startup also represents product innovation, quality, freshness, and commitment to excellence and focuses on building a good relationship with customers based on theirs needs.

9. Hunger Box:

Hunger Box is Bangalore headquartered company founded by Sandipan Mitra and Uttam Kumar in 2016. It is a full-stack B2B and F&B (Food and Beverage) company that brings together food vendors, the company, and its employees in a single platform. It offers safe and healthy office food and cafeteria management for corporate employees. Thereafter 6,00,000 orders are processed every day among 23 cities. Also the company provides a customized platform for users to see the live food menu, order food, pay through digital modes and send feedback.

10. Dumdurrust:

The journey began in 2012, when they got convinced about the fact that wherever an Indian goes, the taste of India follows. Building up on this food habit embedded in our DNA, they started the journey with studying the Indian food culture throughly. In dumdurrust, it is an honest effort to create the history with authenticity and bring the best taste to your table. The journey is never ending and research and experiments are always ongoing. Every item in our menu is backed with legacy and curated with passion.

The Chef Souvik, with 25 years of experience, is an Indian cuisine expert followed by European & Tex Mex, was associated with many National and International food chains heading the product development domain. His creativity and passion for experimentation, along with his curiosity to play with flavours has created diversified menu across different palettes. Certainly Souvik believes that cooking is an art and curiosity is the force driving it. Dumdurrust has decided to design the Biryani & Curries using the Dum Process in Clay pots to offer the authenticity, they call it the “Dum Durrust” way.

Certainly Food startups India have revolutionised the way Indians consume food. Significantly people are constantly making good food choices that are tasty, healthy, and helps them stay fit. Undoubtedly people including a better lifestyle are also a part the food startups and so they flourishing at the same time. An entrepreneur may lack critical insights and knowledge to execute business results.

Therefore book a slot with our experts to discuss your startup ideas. Scaalex has working with food startups in India and founders to validate Business Idea, Financial Modelling, Business Plan and Investment Advisory to scale up the startup. We ensure you get insightful consultation and validations with our domain experts.

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The Capital of India, Delhi, is a city of people having contented hearts and lively nature. Being one of the favorite places of new businesses in the country, Delhi has a blend of small and enormous companies. Delhi has more than 1,500 leading startups that grow successfully and provide satisfaction to its customers. In this article, you will get to know about the best startups in Delhi.

1. Snapdeal:

Snapdeal is an e-commerce-based company founded by Kunal Bahl and Rohit Bansal in 2010. Firstly it started as an offline coupon business and then expanded as an online marketplace in 2011. The company offers multi-category products relating to men’s and women’s fashion, mobiles, tablets, computers, books, beauty products, sports and fitness products,  daily needs, real estate, and many more.  However it has a network of 3 lakh + sellers covering 6000+ cities and towns in India. They connect millions of buyers and sellers in a single platform by providing their favorite products with amazing discounts and offers and quick product delivery at customer’s doorsteps. Eventually Ali baba, Ratan Tata, SoftBank, Venture Partners, Black Rock, Intel Capital are some of the top investors of Snapdeal. Snapdeal app is available for Android and Apple users.

2. ixamBee:

The Delhi startup named ixamBee was started by Chandraprakash Joshi in 2017 and later joined by Arunima Sinha and Sandeep Singh. He believed that big cities and towns have greater access to learning solutions for competitive exams (banking and insurance exams, RRB, SSC, MAT, railways.), but similarly in case of small villages . So he decided to design an ed-tech platform especially for students living in remote areas. It conducts test series and free mock tests using text messages, audio clips, and video formats. All the study materials are designed and prepared by educational experts, ensuring better results in the most optimized manner. Likewise it allows students to interact with their experts in clearing doubts and seamlessly provide exam-related tips and tricks.

3. Awfis:

Amit Ramani founded Awfis in 2015. It is a fully tech-based platform that supplies co-working spaces to startups, corporates, freelancers based on their office space, city, location, preferences. Users can book private cabins, Wifi, desk, printing, meeting rooms and order them through web/mobile app. Likewise it offers a well-equipped business environment where people can interact and share their ideas. The company currently operates in Bangalore, Mumbai, Hyderabad, Kolkata, Pune, Gurgaon, New Delhi.

4. Chaayos:

Nitin Saluja and Raghav Verma initiated Chaayos start up in 2012, based on the online delivery of tea service. As its central theme is based on “Experiments with Chai” , Chaayos is specially meant for all “Chai freaks” . Similarly it offers almost 25 tea varieties such as Pahadi chai, Irani chai, camomile , and Moroccan mint tea(International tea). The company focuses on providing a cup of delicious tea at a reasonable price, straight to your desk. It currently operates in Mumbai, Noida, Delhi, and Gurgaon.

 5. Revfin:

Sameer Agarwal founded a finTech named Revfin in 2018. In fact the aim is to create the most advanced digital platform, providing two types of loans: Regular personal loans and Revloan. A regular personal loan is taken for various personal uses and repaid in installments meanwhile Revloan is applied for a considerable loan amount and can repay from anywhere or anytime according to the user’s convenience. They can select the loan that suits their need, and the best part is that they can get money in their account within minutes using the digital application process.

6. 3Hcare:

In 2016, Ruchi Gupta, Dr. Gurdeep Singh Ratra, and Dr. Ravindra Pal Singh Malhotra founded a Delhi-based startup named 3Hcare to provide the best healthcare services. Currently, it offers two types of services:- Diagnostics and Plan my surgery (patients can plan their surgeries with best-in-class surgeons at a feasible cost). Patients can log into the website and discover diagnostics clinics and hospitals quickly. The company has raised angel funding of INR 65, used to develop IT infrastructure and other services within 11 months of opening its company.

7. Lenskart:

Lenskart was the leading start up eyewear company founded by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi in 2010. Eventually it offers high-quality eyewear (for men, women, and kids according to their eye power), contact lenses, sunglasses, computer glasses at affordable prices. Ray-ban, Johnson & Johnson, Oakley, Tag Heuer, Bausch & Lomb are some of the eyewear brands provided by them. It also extends the services of free eye check-ups and frame trials at the customer’s home/office. The company aims to access eyewear without the need of retailers for a clearer vision of every Indian.

8. GoldSeat:

GoldSeat is a media-tech platform founded by Gaurav Kapahi and Nishchal Khetarpal in 2016. It presents offline entertainment to long-distance bus travelers in two ways: free high-speed Wi-fi to passengers till the last mile and a vast collection of movies (200+ movies) by either downloading the GoldSeat app on their mobile phones or through GoldSeat screen installed in the bus. Also it offers a service line called GoldLiv that ensures passenger’s safety, control, and live features through cameras. The app currently operates in states like Haryana, Uttarkhand, Uttar Pradesh, Gujarat, Rajasthan, Karnataka.

9. Ship Rocket:

Ship Rocket is India’s best e-commerce shipping company founded by Saahil Goal, Gautum Kapoor, and Vishesh Khurana in 2012. It’s a platform where customers can upload orders in bulk from the best courier company, track orders, and get delivery of their products faster and at the lowest shipping rates. It connects e-retailers, logistics companies, and customers in a single panel to create a better shipping experience. It enables International shipping with best-in-class support and reduce shipping errors.  The company integrates with 17 courier partners (including Blue Dart, Ecom Express, XpressBees, FedEx, Delhivery) and delivers to 2,20 countries having 35,000 orders on a daily basis. Warehousing and packing services are the other benefits provided by them.

10. Green Cure Wellness:

Sanchit Garg founded Green cure wellness in 2015, which produces herbal personal and healthcare products (for eye care, skincare, respiratory care, pain relief, better sleep) formulated by German Scientists and Ayurveda experts. They ensure whether the products are helpful for Indians and are of International quality. The products are safe and effective in the first use itself as it contains scientifically proven ingredients free from paraben, mineral oil, paraffin, synthetic colors, PPG, PEG, EDTA, EO.

Delhi has rapidly grown as a startup hub in India. The Delhi startups, as mentioned above, are running seamlessly and creating a market presence over the years. Are you starting a new business? Why not get the assistance of professional experts? Scaalex is an ideal startup funding and consulting platform with a full-fledged team of domain strategists, funding advisory, and financial experts.  Let’s get connected to experience better results.

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Launching a startup can be an expensive endeavour. Some of its expenses include registering the domain and business name, getting a server, research expenses, business plan. Finding the right tools can be tricky, especially when time and resources are limited. One such way is by taking advantage of free startup tools whenever possible. Here are 12 free tools that can help you.

1. Trello:

Internal communication, project collaboration, and management are vital for every successful startup. You can get all these things in one place using Trello. It is a leading online SAAS that allows users to visually organize their tasks and manage their work effectively with team members. Similarly Trello tells you what work to do, which work is in process, and how many jobs are already done. Moreover, it offers other features like posting regular business updates, redesigning websites, working on complex projects with many participants, and many more.

2. Hootsuite:

Hootsuite is the most popular social media marketing tool for startups. It is used to manage multiple social media profiles from just one dashboard and helps you to save time and update. It makes scheduling, managing, and reporting social media content more accessible. Further, it facilitates user interaction by responding to every incoming message directed at multiple social media channels like Twitter, Facebook, LinkedIn in a single stream. To gain more new customers and stay competitive in the market, it is essential to stay connected with social media. So Hootsuite is a must-have.

3. MailChimp:

MailChimp is an all-in-one marketing campaign tool used to create sign-up forms and campaigns, landing pages, Facebook and Instagram ads. Its user interface is easy to use, which allows sending almost 12,000 emails to 20,000 subscribers. Moreover its features include easy personalization, retargeting, impressive templates, making the software a good option for startups. Nevertheless, it let you learn more about your audience, target them precisely so that you can build a good relationship with them. 

4. Canva:

A startup needs to create graphics for its website, blogs, and social media in most cases. It’s when Canva comes into the picture. Canva is a graphic design platform that holds around a million fonts, photos, and icons. It enables the creation of visual content convenient, faster, and better. With the accessible version of canvas, uploading, adding, and creating photos is an easier task. Using drag and drop functionality and layout, users can choose thousands of templates and create impressive business cards, presentations, graphics, reports, resumes, wallpaper, and many more.

5. Zoom:

The Covid 19 situation has forced many companies to allow their employees to work from home. There are a lot of apps available out there which can help you with video calls. But the best among them is Zoom. Zoom is a reliable cloud-based video communication app. The main features include unlimited one-on-one meetings, screen sharing, recording, and hosting video conferences (up to 100 participants for 40 minutes). Anyone can access this platform as it is well-suited with Mac, Windows, Android, IOS.

6. Zapier:

Zapier is a tool used to integrate web apps and automate the most crucial business processes. It connects over 3,000 popular apps like Slack, Convertkit, Google docs without coding. It creates an infinite number of workflows. Zapier can use it to connect information between 2 or more app that you use without coding. Instead of copy-paste option, you can create Zapier workflow (Zaps) to do work automatically, saving time and effort. Startups can take advantage of thousands of free automation provided by Zapier.

7. Calendly:

Without proper management, scheduling events, meetings, conference calls seems to be a headache for everyone. Here comes the need for Calendly, which is free and convenient. It’s a free scheduling app that keeps track of everything based on your availability. With this tool, you can decide when you’re available to take calls during the week and set daily meeting limits. One of the best part of this tool is that it integrates with other apps such as Gmail, Hubspot, Paypal, and so many more.

8. Google analytics:

Google Analytics is one of the best free SEO tools for startups. The web analytics service offered by Google tracks website traffic and helps you establish a highly ranked website. With Google Analytics, it is easy to figure out where your traffic is coming out and how your app users and site engage with your content. Since Analytics works with Google advertising and publisher products, startups can connect their insights to reach out right customers to know more about their customers. 

9. Wave:

Most startups and small businesses use free accounting software named Wave. This software enables you to manage the financial aspects of your business. It also helps to create and send professional invoices with advanced features like automatic payments and recurring billing. Everything is automated, so it saves a lot of time and effort involved in these procedures. Instead of hiring an entrepreneur, startups can use Wave to track their expenses more easily. This app is also available in the mobile version so that you can quickly view all your invoices and receipts.

10. Freshdesk:

Freshdesk is an online platform for intuitive and collaborative customer service with intelligent automation features. It offers 30 days free trial for startups without having to enter the credit details. With Freshdesk, it’s easier to solve customer’s problems from ticketing and phone to messaging apps and social media. Further, it enables companies of all sizes to connect and deliver customer experience across all traditional and digital support channels.  Its top features include email ticketing, social ticketing, Ticket dispatch, Ticket trend report,  team collaboration.

11. Aha:

Aha is free roadmap software used to build excellent strategies for developing your business. Since startups are lean and tight on cash during their early stages, Aha provides a clear product vision and strategy, product collaboration, define business goals, and requirements to achieve it. It is specifically dfor startups to allocate budget and track ROI to those areas they need the most. Additionally, it facilitates initiatives to get into action simply and quickly.

12. Slack:

Slack is top of mind for many startups. It is a messaging tool where teams can communicate via direct messaging and dedicated channels throughout the workday. With Slack, you can make quick phone or video calls with few clicks of the mouse, share files through Slack’s file integration, ensures data security, and access the screen sharing feature directly through its platform. It also promotes office culture among remote workers. The tool integrates with several apps like Google Docs, Dropbox, Zapier, and salesforce. In short, Slack covers most of the things your startup needs to function correctly.

As a new venture, there is much to get done and consider. Free tools help them to smooth out the workflow process more efficiently. Use them wisely to quickly drive your startups to develop and grow better in the future. If you seek any doubts regarding tools for startups, talk to our experts and find out which tool is right for you and your business.

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India is one of the countries which is having many medical start ups with advance healthcare facilities. The Indian government is very well performing to achieve a good milestone in front of the world. High-class medical staff with state-of-the-art infrastructure and medical equipment. The government aims to increase the healthcare spending to 2.5% of the GDP by the end of its 12th 5year plan to 3% by 2022. Much of this is through public-private partnerships and using tech to increase the reach and multitude of healthcare services.

Healthcare is possibly the most diverse sector with startups that focus on telemedicine and online pharmacy. Also it includes personal health management, fitness & wellness.Moreover it provides facilities like home healthcare, medical devices, diagnostics, biotech R&D, biopharma, and genomics. For this reason there are about 3000+ medical startups in India which makes the country a leading medical advanced country. 

Some of the leading medicare startups 

LiveHealth

It is a startup that was founded in 2013 in Pune .LiveHealth functions as a Management information system mainly for health care providers. From collecting samples, managing patient records, diagnosing them, and generating reports, to billing and inventory Live Health is processing very fast .As now they use AI for each step to make smarter and strong. Using AI technology it process a large number of medical records and ERP exchanges. LiveHealth soon plans to help doctors and patients make informed decisions.

Pharmeasy

Pharmeasy is Indians leading health care delivery platform. It assists patients to connect with nearby drug store and diagnostic centers. Also enable them to order medicines, healthcare products, and diagnostic tests. Also the organization intends to improve the supply chain in the pharmaceutical items by digitizing the process. This Mumbai-based startup has incorporated in the year 2015.

CureFit

Curefit is a health and fitness company offering digital and offline experiences across fitness, nutrition, and mental well-being. Mukesh Bansal is the co-founder of CureFit. It was found in the year 2016. Presently Cure.fit has raised over $170 million in its first two years of operations. Curefit is a kind of health fitness tracker where it gives all the information about the workouts and the food we should have.Similarly under CureFit there are many subsidiaries which related to the fitness of the individuals like cultlive, eatfit, carefit, mindfit,  and sports fitness they have introduced cultfit which made them complete health and fitness company.

Lybrate

Lybrate is a medical start up where it shows the nearby doctors and will able to get the doctors to support instantly. This is a Delhi-based startup founded in 2013. It helps patients communicate with a network of doctors. In order to eliminate the practice of chemists and pharmacists prescribing wrong medicines to patients, Lybrate has over 1,00,000 doctors across different specializations connected with its service, providing instant support to patients over the phone or through appointments.

Niramani

Niramai uses Artificial Intelligence for pain-free breast cancer screening. Detecting breast cancer in its early stage at its beginning phase, Niramai’s screening gadget can identify tumors multiple times less than what a clinical test can get. Moreover the startup uses AI and huge information examination over thermography pictures to develop reliable and low-cost diagnostic methods. This is a medical start-up that set up in 2016 in bengaluru. Niramai is among the leading startups using tech to fight cancer.

Practo

Practo is Bengaluru based leading medical start up platform that was founded in 2007  that connects millions of patients with thousands of healthcare providers .Also it helps people make better healthcare decisions. It provides a platform that helps consumers with all their healthcare requirements .It mainly includes finding the healthcare provider to booking an appointment, online doctor consultation, getting their tests done, and even ordering medicines. Practo also makes software products that help healthcare providers ranging from clinics to hospitals digitize and deliver more efficient and higher quality healthcare to millions of patients.

Murgency

Murgency provides emergency medical service with the help of the app well qualified medical, safety, rescue, and assistance professionals will be giving guidance for the patience. It does the functions of aggregator that bring together various emergency services doctors and other medical attendants also they take care of paramedics, ambulances, and first aid support all in one platform.  On the other hand, clients can call for emergency medical response and assistance just with a single click on the mobile application Up until this point, the application has reacted to more than 3,00,000 emergencies, helping patients during critical hours.

Portea medicals

Firstly Portea Medical, the medical startup was set up by Meena Ganesh and Krishnan Ganesh at Bengaluru. The company offers in-home medical services administrations including physiotherapy, doctor consultation, nursing trained attendant service, medical equipment, and lab tests. Subsequently Portea has headquarter in Bengaluru and serves clients across 16 urban areas in India. Portea has partnered with healthcare providers, including 50 hospitals. This make  Portea one of India’s leading healthcare company.

Advancells

Advancells is a company on Regenerative Medicine therapeutic applications that focus mainly on research works. Being one of the pioneer Stem Cell Companies in India, this startup initiative was taken in the year 2013. Advancells’s technology is capable of treating various problems like diabetes, Parkinson’s, Alzheimer’s, joint inflammation, stroke, and heart sicknesses. Similarly with a team mostly consisting of scientists, Advancells processes the bone marrow/adipose tissue from a patient and separates the stem cells. This Noida based startup has started in 2013 by an entrepreneur Vipul Jain

Forus Health

Forus Health is focusing on curing preventable blindness and make screening for common eye problems affordable. There are 40 million individuals who are blind globally, and from that15 million live in India. The high rate of blindness in India is because of a mix of some issues, yet for the most part because of mostly due to limited access to eye care facilities, high cost of treatment, surgery, and lack of awareness. With more than 1,300 establishments across 26 countries, the Bengaluru-based startup has affected more than 2 million lives positively. Their most advanced innovation targets identifying Retinopathy of rashness (ROP), a sickness that prompts visual deficiency among premature children, due to excess oxygen or the effect of drugs used to save them.

Adresshealth

Adresshelth provides primary pediatric healthcare services to schoolchildren. children undergo screening for vision, dental health, hearing,anthropometry, alongside a complete medical examination. AddressHealth is today, India’s largest school health provider. This is a startup that set up in the year 2010(Bengaluru). AddressHealth utilizes tech at each progression to make medical care holistic and affordable for children. The startup has likewise planned educational programs for understudies to ingrain sound practices, both mental and physical, in their early stages.

These are some of the leading Indian medical care startups

The medical startup in India is very much leading. Startups also create a good amount of revenue. During the pandemic, about 4800+ health tech startups have come out with the cutting edge technology to fight these situations such as epidermic as well as pandemic. Indian medical care startups have very sophisticated technologies to understand the problems and act according to the needs of the patients or customers. By 2025 India will be the country with the highest amount of healthcare startups and good technologies.Finding the right tools for launching a start up can be tricky, especially when time and resources are little..Also it is important to make a correct plan that fit your business for high profitability.