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WeWork – The Story Of The Real Estate Unicorn Startup

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The concept of coworking spaces took off throughout the world as a business model.  However, this concept was pioneered by WeWork. Coworking spaces offer plug and play ready to move office spaces to companies and startups which need an office infrastructure.  Startups can directly move into a furnished office space which has all the amenities needed to run their operations.

The beginning of WeWork

WeWork was founded by Adam Neumann and Miguel McKelvey.  Prior to the founding of WeWork, Adam Neumann and Miguel McKelvey established an eco friendly coworking space company called GreenDesk in 2008.  Upon selling the business, they began WeWork in 2010. The United States Of America was going through an economic crisis at the time, which saw companies and businesses shutting down due to poor economic landscape.  The founders realised empty office buildings could be offered as working spaces for freelancers and startups and created a business model to connect them. This led to the opening of the first WeWork lab in SoHo, Manhattan.

Growth of WeWork

WeWork aims to be a startup incubator with the goal of encouraging collaboration amongst members whose business ideas are not fully developed.  After the success of their first offices in SoHo, they opened up at four more locations in two years. They focused on creating a community rather than sustainability and this attracted more members.  Customers are often referred to as members of WeWork. This led to the Company attracting an investment of $ 17 million from Benchmark, which pushed Wework to grow more. More funding was attracted from the likes of J.P. Morgan Chase and Co., the Goldman Sachs Group and the Wellington Group.  WeWork opened their first international office in 2014 in London, U.K. They diversified their revenue stream by offering furnished micro apartments with every utility.

Controversies

The Company has been plagued with multiple controversies, mainly due to Adam Nuemann’s extravagant lifestyle and indulgences.  Neumann courted controversy for smoking marijuana during the entire journey from the United States of America to Israel, prompting the jet provider to cancel his return flight, stranding him in Israel.  There were multiple allegations of sexual harassment and lawsuits filed against former executives. WeWork was supposed to file for an IPO but pulled back out, because of the major investor Softbank’s loss of confidence in Adam Neumann.  Softbank paid Neumann one billion dollars for him to resign as CEO because they lost confidence in his leadership abilities.

The Company is currently under management restructuring by bringing in people to guide the course towards better governing policies.  WeWork paved the way for startups or growing companies to be a part of a community to develop their ideas and grow their businesses. It is also important to note that while the concept itself was revolutionary with many startups adopting the same model, this unicorn failed to capitalize on its success due to poor decisions, bad management and lavish unchecked spending.

 

Entrepreneur Stories

Inside T-Hub: India’s Launchpad for Innovation and Entrepreneurship

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Aerial view of T Hub Hyderabad

Imagine a building that’s not just a structure but a buzzing ecosystem. A space where startups, corporations, universities, and investors come together to create the future. This isn’t science fiction; it’s T-Hub, India’s largest innovation hub, and it’s rewriting the rules of entrepreneurship.

T-Hub isn’t just about workspaces. It’s a launchpad for ambitious dreams. They’ve empowered over 2,000 startups, turning ideas into thriving businesses. Think funding woes? T-Hub’s got your back, connecting entrepreneurs with angel investors and government grants. Need a mentor to guide you through the rough patches? T-Hub boasts a network of 2,000 mentors ready to share their wisdom.

T-Hub’s vision extends beyond startups. Here’s a glimpse into what makes T-Hub special:

  • From Seed to Scale: Whether you’re a budding entrepreneur with a bright idea or a scaling startup ready to take on the world, T-Hub has programs to support you. From the “seed-accelerator stage” Lab32 program to the “early-stage technology startups” RubriX program, T-Hub provides the tools and guidance needed to thrive.
  • Corporate Muscle: Innovation isn’t just for startups. T-Hub bridges the gap between startups and established corporations like Facebook, Uber, and Boeing. This collaboration allows startups to tap into corporate expertise and resources, while corporations benefit from the agility and fresh perspectives that startups bring.
  • Funding Powerhouse: T-Hub is more than just an idea incubator; it is also a reality maker. Through initiatives like T-Angel and the Digital India Scaleup Program, T-Hub connects startups with high-net-worth individuals, angel investors, and government funding sources.
  • Global Ambitions: Thinking Beyond Borders? T-Hub has you covered. With partnerships across the globe, from the UK government to La Trobe University, T-Hub helps Indian startups access international markets and provides foreign startups with a foothold in India.

And it doesn’t stop there. T-Hub 2.0, their new colossal campus, is a testament to their ambition. This behemoth is not just the world’s largest technology incubator; it’s a microcosm of innovation itself. Universities find a home here, churning out future tech leaders. Foreign partnerships open doors to international markets for Indian startups. It’s a melting pot of ideas, cultures, and expertise, all focused on creating a brighter tomorrow.

T-Hub’s story is far from over. They’re aiming to empower a staggering 20,000 startups in the next five years. With their focus on internationalization and capacity building, they’re poised to become a global hub for innovation. So, if you’re an entrepreneur with a dream, T-Hub might just be the launchpad that takes you to the stars.

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Emerging Startup Stories

Discover Kheyti, The Startup Changing The Lives of Farmers In India

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Farming has been an integral part of India’s history and culture for ages. It’s been the foundation of the Indian economy, supporting millions of people with food and jobs. Crops and agriculture hold immense importance in Indian society, not just in terms of money, but also in terms of culture, community, and spirituality.

Farming is a way of life for many people in India, but it can be a difficult and unpredictable business and farmers face a number of challenges, from erratic weather patterns to low market prices for their crops. Kheyti is a social enterprise founded in 2015 by Saumya, Kaushik Kappagantula, and Sathya Raghu. The organisation provides sustainable solutions to small farmers in India, helping them overcome challenges and improve their lives.

Kheyti’s flagship product is the “Greenhouse-in-a-Box,” a low-cost modular greenhouse that allows farmers to grow high-value crops year-round, even in unfavourable weather conditions. operates on a subscription-based model, where farmers can purchase a “Greenhouse-in-a-Box” kit or sign up for crop advisory services on a monthly or annual basis. Kheyti.com also earns revenue by connecting farmers with markets and buyers, taking a small commission on sales. They work to keep the costs low by partnering with local manufacturers to produce their products and leveraging tech to provide personalised crop advisory services at scale.

They also provide crop advisory services to farmers, offering personalised advice on crop selection, planting, and management. In total, The company has helped over 6,000 small farmers increase their incomes by an average of 300%. You call them small farmers, Kheyti calls them Smart farmers!

While there are other companies in India that offer similar solutions to small farmers, Kheyti stands out for its focus on sustainability, innovation, and community involvement. It works closely with farmers to develop tailored solutions that meet their needs while focusing on sustainable farming practices. Through its efforts, Kheyti has improved soil health, reduced water usage, and increased yields of various crops.

Looking ahead, Kheyti plans to expand its reach to more farmers in India and beyond and aims to continue developing new products and services that can help small farmers overcome the challenges they face. With its commitment to sustainability and innovation, The visionaries at Kheyti claim it has the potential to transform the agricultural sector and contribute to a more equitable future for all.

Imagine the joy and hope Kheyti brings to struggling farmers in India. With Kheyti’s help, over 6,000 small farmers have transformed their lives, becoming Smart farmers who handle challenges and succeed. With sustainable solutions, Kheyti is not only revolutionising agriculture but also spreading hope for a brighter future.

 

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Emerging Startup Stories

Suki: This Startup Wants To Transform Healthcare With Its Artificial Intelligence Tool

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Suki: This Startup Wants To Transform Healthcare With Its Artificial Intelligence Tool

We live in a rapidly transforming era where humanity is making exponential leaps in technology.  Thirty years ago, no one would have believed you could talk to an online voice assistant to create tasks and get things done.  Ten years ago, no one would have believed humanity would land robots on Mars.  Technology truly has improved the quality of living of every human who owns a smartphone and has access to an internet connection.  Voice assistants are slowly replacing manual tasks and making lives easier and efficient.  Siri, Alexa, Google Voice Assistant are just some of the widely used artificial intelligence based tools which are employed on a daily basis.  Artificial intelligence, which is hailed as the technology of the future is now slowly making its way into much more complex domains like self driving vehicles, quantum computing and also health care.

Suki, a United States of America based startup founded by Punit Soni, developed their own voice assistant which runs on artificial intelligence to simplify healthcare for doctors and other healthcare professionals.  In simple terms, Suki is akin to Siri for doctors.  While you could order a pizza or schedule an appointment on Siri, doctors could modify, edit and add health records of their patients.  Suki is a powerful tool to help doctors with documentation of health records which often take hours of their (doctors) time.  

Suki currently focuses on documentation but has the potential to expand its usage to data queries, ordering, prescribing and billing.  According to a white paper published by Suki, using its technology increases the time a doctor spends with a patient by 12% by cutting note taking time by 76%.  The time which is saved also brings in a financial benefit of $30,000 more in revenue a year on average for doctors.  

Suki raised a $ 20 million Series B round from Flare Capital Partners, First Round Capital, and Venrock, doubling its total funding to $ 40 million since its 2017 launch.  Suki is also looking to expand its reach in India and has decided to establish Bangalore as their base of operations.  India holds a lot of potential for Suki considering the amount of manual work which goes into almost any sector.  

It would be interesting to watch how Suki and other similar AI based startups would transform healthcare across the world.

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