Exploring the Potential of HYPERCONNECTED START-UP NETWORKS
Hyperconnected ecosystems are reshaping the start-up landscape in India by fostering collaboration, innovation, and scalability. These ecosystems leverage technology to connect entrepreneurs, investors, mentors, and support organisations seamlessly, transcending geographical barriers. Start-ups benefit from access to a diverse pool of talent, resources, and market insights, driving rapid experimentation and iteration. Businesses are increasingly recognising the significance of hyperconnected ecosystems in enhancing productivity levels and fostering greater engagement among users. A recent round-table titled, titled ‘Hyperconnected Ecosystems for Start-ups: A Path to Higher Productivity and User Engagement’ organised jointly by Outlook Business and Tata Communications, highlighted the transformative potential of connectivity. The event which took place in Jio World at BKC, Mumbai on March 14, 2024, stressed on how interconnected systems are revolutionising the start-up landscape. The distinguished attendees shared insights shaping the start-up landscape.
Pratik Jain, GM Sales, Tata Communications
“At Tata Communications, our core focus lies in ensuring seamless connectivity for individuals amidst their daily activities. Each person has unique personas and requirements, which became even more apparent during the COVID-19 pandemic, revolutionising the way we work. With the freedom to work from anywhere, our challenge is to ensure that individuals remain connected, productive, and content. To address this challenge, Tata Communications has strategically developed infrastructure tailored to these needs. We pride ourselves not on being merely a product-oriented company, but rather on being solution-driven. Leveraging this approach, we strive to fuel growth and deliver innovative solutions to our clients.”
Jeetendra Upadhyay, GM Technology, Tata Communications
“Enabling seamless connections between IoT devices enhances both B2C and B2B experiences. Prioritising user experience and site persona is crucial, as LAN bandwidth may be insufficient and app prioritisation lacks control. Collaboration and location prioritisation are key, ensuring hyperconnected ecosystems justify ROI.”
Amit Ray, Chief Information Officer, Reliance Digital Retail Limited
“Significant human intervention exists, necessitating technology to assess product availability. Key is guiding customers through informed decisions by analysing their inputs, providing tailored options. Leveraging technology in this process is essential for efficiency and personalised service.”
Vivek Katyayan, Head of Credit & Operations, Kissht
“There is a need to develop various customer journey dashboards spanning regulated touch points. By maintaining operational efficiency, a holistic overview is sustained, negating the constant need for data retrieval. These dashboards ensure continuous access to relevant data, streamlining operations effectively.”
Sudhakar Sharma, Sr. Vice President, Wellness Forever Medicare Pvt Ltd
“Technology aids in streamlining various processes, from inventory management to customer assistance, including wellness counseling. Pharmacists can share relevant data with customers, promoting awareness and empowerment. With vast SKU varieties, technology mitigates the risk of dispensing errors, ensuring accurate transactions and enhanced consumer safety.”
Devendra Dariya, CPO, Coverstack (Coverfox Insurance)
“As an insurance market aggregator and partner, we rigorously monitor data integrity to ensure regulatory compliance. Frequent changes pose challenges, yet our platform, devoid of constant tech interventions, minimises costs. Outsourcing exploration is vital, leveraging analytics to optimise expenses such as call center charges can lead to enhanced operational efficiency.”
Subhadeep Kundu, Head - Digital Engineering, Auxilo Finserve Private Limited
“Infrastructure is key, relying on vendor knowledge for tech insights and vision, even for applications. Global vendors can be costly, so startups’ security plans are crucial. Engaging with these start-ups presents valuable opportunities for interaction and collaboration in this rapidly evolving landscape.”
Kapil Kapoor, CTO, Credable
“In meeting evolving customer needs, companies need to prioritise partners with flexible tech integrations, aligned with API design and cloud capabilities. Ensuring portability across multiple clouds is crucial, alongside prioritising security. Flexibility is key; avoiding lock-in enables adaptability to changing landscapes and customer demands.”
Nishit Saurav, Head, C.S. Engineering, LogiNext
“In multiple delivery markets, data plays a pivotal role from supplier to manufacturer to delivery. Real-time data is essential, with opportunities for data reuse. Capitalising on data reuse is crucial, especially as channels continue to expand rapidly.”
Aman Bapna, Director of Engineering, Kuku FM
“We face the challenge of relying on data touch-points over physical ones. Analyzing and attributing data is crucial, involving content creators in problem-solving remotely. Understanding and deriving insights from data is paramount, especially in binary outcomes. Innovation and multiple fallbacks aid in uniquely addressing every issue, while timely feedback fosters growth and iterative improvements.”
Kapil Kini, Business Head & VP Alliances, FlexiLoans.com
“In the era of fintech, rapid customer service is important, heavily reliant on technology. Secured loans entail high risk, necessitating thorough fraud checks before disbursement. Each loan requires meticulous documentation verification for compliance. While turnaround time (TAT) is crucial, it must not compromise mandatory checks.”
Vaibhav Parekh, Business Head, API Holdings
“In the warehouse, technology minimizes time wastage. In the era of rapid commerce, medicine delivery must be under 4 hours, with most orders chronic. Agility is crucial for acquiring new customers. Robust tech infrastructure, including a unified cloud system, is vital. Service differentiation is key, facilitated by tech-driven market acceleration.”
Kavitha Chowdhary Iyer, Head Process and Transaction Monitoring, BillDesk
“Managing transaction complexity entails collaboration with various banks and merchants, each with distinct processes. Data validation adds to agility demands, straining IT teams. Centralising operations is vital for efficiency. Ensuring adherence to timelines is crucial to avoid penalties, emphasising the importance of streamlined transaction flow and reporting.”
Akbar Mohammed, Head Innovation AI Engineering, Fractal
“Increasing data volume prompts system integration strategies. Manufacturing seeks waste reduction solutions. Healthcare gathers data from doctors, requiring regulatory buy-in. Finance industry secrecy challenges necessitate problem-solving. Effective data processing is vital across sectors to address diverse touch points, including patient care and regulatory compliance.”
Ankur Goel, Founding Member & COO, Epigamia
“From FMCG to ad companies, technology now takes center stage. While traditionally reliant on manual processes, today’s emphasis is on data utilisation for realtime insights. While not always at the forefront, integrating technology proves advantageous, especially in leveraging data across value chains for scalability.”
In conclusion, Hyperconnected ecosystems revolutionize start-ups, nurturing their development, creativity, and cooperation. Enterprises embracing connectivity, strategic data management, and robust security measures excel in this dynamic environment, propelling forward with innovation and resilience.