Startup Scoop - Edition 9

About E-Cell MIT??

Welcome to the Entrepreneurship Cell of MIT Manipal! We aim to help students develop a culture of innovation and entrepreneurship, providing them with the resources and support that will enable them to transform their ideas into viable businesses.

Flying Electronics: Revolutionizing the Drone Industry?

In today's world of advanced technology, where innovation constantly pushes boundaries, there's one name that stands out: Flying Electronics . Imagine a place where the sky isn't just empty space above us, but a playground for thrilling aerial adventures. That's what Flying Electronics offers—a haven for drone enthusiasts worldwide.

Priyanshu Vats , an electronics and communication engineer from Manipal Institute of Technology founded Flying Electronics in 2022, a venture that's making waves in the world of FPV (First-Person View) racing drones and is also incubated at MIT‘s Innovation Centre.

From selling over 500 drones to securing the first runner-up position in Pitch Tank and being appointed as the official drone partner of Revels 2024, Flying Electronics has made a significant mark in the industry. Flying electronics was invited to participate in a 3-day National Startup Mahakumbh event at Bharat Mandapam, New Delhi, which was the largest-ever Startup event in India.

At Flying Electronics, you'll find an impressive collection of cutting-edge FPV drones, from sleek DJI models to custom quadcopter parts. It's not just a marketplace; it's a community of like-minded individuals who share a passion for flight.

US monthly inflation slows, consumer spending surges, reveals data

Prices in the United States went up a little, with the increase being driven by services outside of housing costs that slowed down significantly. So far so good for a potential June interest rate cut by the central bank. Although yearly inflation stood at 2.5%, the PCE price index rose 0.3%, slightly slower than predicted.

Nevertheless, Federal Reserve board members are very careful in their comments on this matter as one of them, Governor Christopher Waller even advised a “measured approach”.

The rate at which core inflation changed was quite small, and it is worth noting that its impact on the country’s economy cannot be overstated; consumer spending is therefore key.

Is Hatti Kaapi the new Starbucks?

Forget flat whites and venti macchiatos, a challenger has emerged! Hatti Kaapi, a homegrown hero with a mission to globally revolutionize filter coffee, is brewing up a storm for just 8 rupees from your pocket??

Founded by US Mahendar in Karnataka's heartland, they're serving up a cup of tradition with a twist, taking on the coffee giants one delicious sip at a time. ?

Hatti Kaapi's focus on traditional brewing methods and potentially lower prices have been a recipe for its success! They've brewed up a significant chunk of the filter coffee market, jumping from a revenue of just 7Cr in FY11 to a staggering annual recurring revenue (ARR) of 100Cr. That's a cup overflowing with achievement!

In a recent interview India’s minister of commerce and industry Piyush Goyal said “We’ll make sure we give Starbucks a run for their money”. So could India’s filter coffee swing it out of the park with this new found recognition and a push from the government?

GIFT City: Where Dreams Shape India's Economic Future

Imagine a bustling cityscape nestled in the heart of Gandhinagar, Gujarat – Gujarat International Finance Tec-City (GIFT). It's more than just a cluster of buildings; it's a vibrant community shaping India's economic destiny.

At its core lies the International Financial Services Centre (IFSC), a bustling hub where dreams take flight and global commerce thrives. GIFT's strategic location beckons investments, propelling Gujarat's economy forward and elevating India's global standing.

Behind GIFT's success are passionate individuals dedicated to upholding transparency and integrity, fostering an environment where businesses not only survive but flourish. But GIFT is more than just a financial hub; it's a champion of sustainability. Through innovative eco-friendly initiatives, it's paving the way for a greener, more sustainable future.

As GIFT evolves, it remains a guiding light, shaping India's economic journey and creating opportunities for generations to come.

Book Suggestion:
 
The unusual billionaires: Authored by Saurabh Mukherjea, the book delves into the stories of nine extraordinary companies, challenging conventional business wisdom. A must-read for those seeking inspiration and fresh perspectives on entrepreneurship in India.        

Highlight Section:

Will Devin AI Replace Coding Jobs?

We at E-Cell MIT decided to take valuable insights from Professor Alapati Vittaleswar and our very own executive in the technical department, Ayushi Wadhwa .

Let’s see what they have to say:

Professor Alapati Vittaleswar’s Testimonial:

"I believe that AI should be used to solve complex business problems but should be implemented carefully alongside human expertise, which is irreplaceable.

From E-Cell's perspective, a new project could involve creating an AI tool in the IT field. This tool would help identify suitable business opportunities for potential entrepreneurs based on their technical and financial background."

Ayushi Wadhwa’s Testimonial:

Devin AI is a groundbreaking autonomous software engineer with advanced skills like coding, debugging, and problem-solving, which can create and improve apps and even enhance its own AI models.

Devin AI will likely lead to a demand for highly skilled developers who use AI tools effectively thereby enriching the software industry by creating more opportunities.

So, instead of worrying about how new technologies like Devin AI might affect us, its time to adapt to the upcoming technologies and keep upskilling ourselves because “Change is the only constant”.

Farms Get Smarter with AI Crop Tool

Tech giant AWS is teaming up with developers to create a new tool that uses artificial intelligence (AI) to help farmers manage their crops. This is a big step towards using AI on farms, potentially making them more efficient and eco-friendly.

The tool might analyze things like soil conditions and weather to suggest the best places and times to plant. It could even predict crop yields, helping farmers plan ahead. AI could also keep an eye on crops using drones or sensors, spotting problems like pests or disease early on. This allows farmers to take action before things get out of hand.

This is just the beginning for AI in agriculture. This new tool has the potential to make farms smarter and more productive.

Subko Coffee Raises $10M in Series B Led by Nikhil Kamath

Subko, the artisanal coffee roaster and bakery extraordinaire, just secured $10 million in funding, led by Nikhil Kamath, Zerodha's co-founder.

With this funding, Subko's valuation hits $34 million. Funds will strengthen their team, enhance tech experiences, fuel R&D for product design, and boost farm-level infrastructure for specialty coffee and cacao beans.

Subko's retail empire spans flagship stores and quirky pop-up mini models, totaling 12 touchpoints, including four flagships. In the bustling arena of coffee and cocoa start-ups, Subko stands tall, ready to take on competitors like Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co.

What is the term for a unique advantage that differentiates a business from its competitors????

Answer : Differentiation

What is the process of turning an idea or invention into a marketable product or?service?

Answer : Commercialization

And that's a wrap, folks! ???? But fear not, the entrepreneurial journey never truly ends—it evolves!

Keep your eyes peeled for more electrifying updates and insights. ???

Stay wired for the latest tips, resources, and innovation straight from E-Cell MIT to keep you riding the startup wave.????????

Fuel your hunger, fuel your productivity! ???? Until our next rendezvous, sending you all the entrepreneurial vibes and love from E-Cell, MIT. ???

Keep pioneering!

With love from Varshney, Vivek, Bhavesh, Shrihar, Preyanshi, Prakhar and Sneha.??

Have a good day!