TIE Chandigarh organized first ever TiECON in Chandigarh, an event co-hosted by STPI (Software Technology Park of India). The one day event saw 40 distinguished speakers, startup founders, CEOs, seasoned professionals, 500-plus delegates and 30 plus exhibitors. The prime motive of organizing this event was to build exciting startup ecosystem in Tier 2 cities and it hit the bull’s eye by giving a common platform to young entrepreneurs where they could learn, explore and exhibit business skills.
The event held on February 19 included full day conference, STPI award show, business networking and speaking sessions. YoKart, an ecommerce solution developed by FATbit Technologies won ‘product of the year award’, for which various apps, tools and platforms from this zone contested and faced the jury. All the contenders presented their product to the jury in a meeting held two days prior to TiECON Chandigarh. The panel of judges including experts from Infosys & STPI conducted an interaction session after each presentation that aimed to unearth value of every product.
YoKart won the honor on the grounds of helping entrepreneurs face three challenges, viz; commercial issues, technical reliability and post-sales support. The product won out on striking progress made within one year of its launch. As bared by the presenters, YoKart reached the breakeven point interestingly before it was formally launched. . Developed with 4000 man-hours, this multivendor system received enough orders in the pre-marketing phase itself, which gave it a commendable start and aided for the future growth.
According to Manish Bhalla, CEO FATbit, “It definitely feels great to see YoKart ascending at a striking speed, though it was envisaged based on a number of analysis done by our team. We studied various business models for a couple of years and noticed the dominance of businesses acting as marketplace/aggregators in the ecommerce world. Viewing this global trend of eCommerce and mCommerce being ruled by businesses like Uber, Amazon and Taskabbit, developing marketplace-portal for different categories was quite logical to us. YoKart is the first one of them; the other industry focused solutions are at the verge of launch. What’s compelling about these marketplace portals is that they accomplish the task of empowering startups quite meticulously by offering young entrepreneurs the power to try their business ideas with reasonable investment in technology. Most of our solutions are ready to launch, which reduces the time required by startups to test their ideas in the real battleground;this is another leading factor why YoKart has received this compelling acknowledgement”.
On being asked about what’s next for YoKart, he said that contributing to strengthening startups ecosystem by bringing technology into the hands of future startups and small, medium sized businesses at a very affordable cost is the ultimate goal. “Better if we lead the category for offering value and making a difference to various startup journeys globally”, he concluded.
The Indus Entrepreneurs (TiE) is a non-profit organization that is active globally and is acknowledged for nurturing startups by giving entrepreneurs a podium to network, learn, grow and find mentors. TiECONs, the annual flagship event of TiE aim at educating budding business generation about everything from launch to growth and success. TiECON Chandigarh was a similar initiative to build a startup environment and foster technology innovation in Tier 2 cities of India. As announced at the conclusion of event, a bigger and more inspiring TiECON Chandigarh has already been planned for 2017 somewhere in February.