The incubator, which was formed a couple of years ago, incubates startups in the technology space and supports them through the entire journey from ideation to becoming enterprises and even after that. So far the incubator has added more than 30 startups (including the new ones listed below) to its portfolio. Recently, IAN invested in online education startup IndiaCollegeSearch, which is also one of its incubatee companies. Here is a quick look at the startups added since January 2013.
Evomo Research & Advancement: Founded by Abhinav Kumar in 2010, Evomo is building a rural utility vehicle (RUV) called 'Savaaj', which is being built for people and goods movement in rural areas. The product is in alpha stage of prototyping and will be launched by the end of 2013. The startup is based in Ahmedabad, and was earlier incubated at the National Institute of Design in Ahmedabad. Kumar, the founder, is a mechanical engineer and has worked with Sona Koyo Steering Systems and International Center for Automotive Technology in different research and development positions. Along with people and goods transfer, 'Savaaj' can also perform some agricultural functions like pumping water, carrying load, etc.
KumoTeam: Founded by Canada-based entrepreneur Parikshit Chitalkar sometime last year, it is a SaaS-based service that allows companies with field staff to optimise their operations and improve efficiency, tracking and reporting. Its target audience is small and medium enterprises. Chitalkar was earlier working at Search Results as a partner and before that he led 6 Degrees IT as CEO.
Tutoring 'D' Street: A Delhi-based startup, Tutoring 'D' Street is looking at vocational training in commonly used Microsoft application Excel. It provides hands-on training in Excel to professionals and students in both online and offline modes. It was founded in 2010 by founder duo Abhinav Verma and Rajat Singhal. Both of them are former Wall Street investment bankers and have worked with firms like ICICI Venture, Macquarie Group, Merrill Lynch and GE Capital.
Joognu Technologies: The Ahmedabad-based startup was founded by Anirvan Dam in August 2011. Prior to Joognu, Dam worked at companies like Aviva-COFCO Life Insurance Company, Radio Mirchi and Citibank India. The site enables parents to store the journey of their children in their growing up years, which can then be presented to them (children) as a package once they are older. Parents can upload pictures, videos, documents and diary thoughts, etc., which are then stored in a structured storyline format (with the help of a 'Weaver' feature that literally weaves the captured memories) on the site. It has raised Rs 60 lakh ($110,000) in angel funding from Kishor Gokhru (a large sub-broker for Sharekhan) earlier this year.
Damini Artisans: It is an entrepreneurial venture of Parveen Sikkandar, a journalist based out of Chennai. It is an indigenous jewellery and accessories label. The brand retails a wide variety of jewellery ranging from those made of silver and semi precious metals to gold-plated, costume, glass, paper and Thamara silver jewellery made by local artists. Apart from retailing from its own store in Chennai and selling the jewellery online, Damini Artists' stuff is also available at larger retails chains like Landmark and Odyssey.
Buntea & Bubbley: It is a Bangalore-based restaurant that sells beverages like bubble tea and healthy desserts such as frozen yogurt. The company was founded in 2012 by husband-wife duo Prerna Singh and Gautam Singh.
Ed-LogIQ: It is a Gurgaon-based startup that is aimed at helping students choose their career option. It does this by a variety of tests to help students arrive at an informed decision. It runs psychometric tests, brain training games, neuron gyms, guest and video lectures along with 'Project Prodigy', a national level test based on the theory of multiple intelligence rather than the quantitative nature of common IQ tests to direct students to their choice. The company was founded in January 2012 by Abhishek Krishna and Raghu Raaj Shekhar. Both the founders are qualified engineers; while Krishna is an IIT Roorkee alumnus, Shekhar is a BIT Mesra alumnus.
My Solutions My Way: It is an Udaipur-based social venture which aims to make consumers aware of their rights and make providers of faulty goods and services accountable. It is currently only addressing cases related to life insurance and also offers a fee-based professional financial planning service for end-users. It acts as a channel for end-users by forwarding complaints registered by users on its website to the respective companies and attain responded from them. It is founded by Nitin Balchandani, an Udaipur-based professional.
(Edited by Joby Puthuparampil Johnson)