How To
How To Get Funding For Startups
Brilliant ideas solving everyday problems can make any person very rich very fast. One of the most appealing characteristics of entrepreneurship is the opportunity to become millionaires and billionaires. However, not everything is this easy. One of the first hurdles any startup faces is the issue of raising seed funding for the company in order to better develop the product. While a few entrepreneurs try to self fund their company, that may not be a viable option for everyone.
Today, let’s take a look at some ways to raise funds for startups.
Master Business Plan
One of the main components an investor will consider is not just the viability of your product but your overall business plan. A good business plan includes contingency plans, alternative sources, detailed market research, product specifications, production, marketing and distribution strategies among other things. In order to get investors to trust your idea and company, chalk out a business plan that demonstrates a measurable strategy to accomplish your goals and objectives. Include your five year and ten year plan for your company. It shows that you are in it for the long run and won’t flake in the middle. A master business plan works multiple ways. It can be used to get investors and even consider alternative sources.
Crowdfunding
One of the newer ways for startups to raise funds has been through crowdfunding. Using a legitimate crowdfunding platform, entrepreneurs can put up a detailed description of the product, the goals of the business, what are the plans to make a profit and how much funds they require. Investors and other interested people can then give money if they like the idea. Crowdfunding, in simpler terms, is similar to taking a loan, donation, contribution or investment from more than one person at the same time. Crowdfunding also helps in generating interest in the product and may also attract venture capital investment down the line. Some of the most popular crowdfunding platforms are Kickstarter, Fundlined, GoFundMe and Onevest.
Angel Investors
Angel Investors are individual investors with surplus cash and a lot of interest in innovations and good ideas. A lot of Angel investors are also interested in mentoring startups and offer their services along with their money. Tech giants like Google and Yahoo along with ecommerce giant Alibaba started off with Angel investors. In exchange for their investments sometimes angel investors also look for an equity stake in the company. Famous TV show Shark Tank is a good example. Angel investors such as Mark Cuban, Lori Greiner and Kevin O’Leary among others review entrepreneur and their products investing in those who show promise in return for equity or profits. However, angel investors invest lesser amounts when compared to a venture capitalist.
Venture Capital firms
In a booming startup ecosystem like India, international venture capital firms such as SoftBank, Alibaba, Naspers and others are always on the lookout for the next Apple or Flipkart. These firms are professionally managed funds who invest in companies that have huge potential. While they place big bets on startups and business in exchange for an equity stake, they generally exit the company when there is an IPO or acquisition. The downside to venture funding is that these companies are more keen on recovering their investments.
Networking
The most effective means to get funding is by meeting the right people and creating a network. Networking is especially essential for entrepreneurs and founders who don’t have have a proven track record and are not famous. Referrals mean a lot in the startup industry and knowing the right person can get you an invite into the most elite networks.
While meeting with potential investors, remember to keep the pitch, simple, short and to the point. Don’t make it about the numbers, but make it a story with a happy ending. Once investors like the initial pitch, then involve the numbers, the contingency plans and all other essentials.
What’s your startup funding story? Write to us at [email protected] or leave us a comment below. If you have any tips for all aspiring entrepreneurs, we are waiting to hear from you!
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Google has introduced a new AI-powered feature for its Files by Google app, allowing users to easily interact with PDF documents. The “Ask about this PDF” feature, powered by Gemini, enables users to ask questions about the document’s content directly within the app.
How it Works
Access
The feature is available in the updated Files by Google app (version 16.0.5 and above). Users can download the latest version from the Google Play Store to access this functionality.
Functionality
Users can simply tap the “Ask about this PDF” button while viewing a document. This prompts the app to allow users to ask questions regarding the PDF content, such as:
- Summaries of sections
- Clarifications on specific paragraphs
- Details about tables and charts
AI Interaction
The app leverages the power of Gemini AI to provide accurate and informative answers based on the content of the PDF. This interaction enhances user engagement by making it easier to extract relevant information without manually scrolling through lengthy documents.
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AI-generated responses are displayed as an overlay, enabling users to view both the original PDF and the AI-generated answers simultaneously. This feature streamlines the process of obtaining information from PDFs, making it particularly useful for students and professionals who frequently work with such documents.
Availability
Gemini Advanced Required
The “Ask about this PDF” feature is currently exclusive to users of Gemini Advanced, a subscription service that provides enhanced capabilities of Google’s AI tools.
Limited to Files by Google
At present, this feature is available only within the Files by Google app. However, there are expectations that similar functionalities may be integrated into other Google applications in the future, such as Google Drive.
Future Outlook
This new feature demonstrates Google’s commitment to integrating AI seamlessly into its products and services. By enhancing the user experience with innovative tools like “Ask about this PDF,” Google aims to improve productivity and accessibility for its users.
Expansion Plans
Given the positive reception of this feature, it is likely that Google will explore expanding Gemini’s capabilities across other platforms and applications, potentially offering similar functionalities for various document types and formats.
Conclusion
Google’s introduction of the “Ask about this PDF” feature in its Files by Google app marks a significant advancement in how users interact with digital documents. By leveraging Gemini AI, Google is not only enhancing productivity but also making information retrieval more efficient and user-friendly. As AI continues to evolve, features like these are expected to play a crucial role in transforming digital workflows across various sectors.
WhatsApp is revolutionizing how users handle voice messages with the introduction of its new Voice Note Transcription feature. Designed to cater to diverse user needs, this update ensures that you never miss out on voice messages, even in situations where listening isn’t an option—be it a noisy environment, an important meeting, or simply when audio isn’t convenient.
What Is Voice Note Transcription?
The Voice Note Transcription feature converts voice messages into text, allowing users to read the content instead of listening. This thoughtful solution addresses scenarios where audio playback may not be practical. With this addition, WhatsApp enhances communication efficiency, helping users stay connected regardless of their circumstances.
How Does It Work?
Using the transcription feature is straightforward:
- Enable the Feature: Navigate to Settings > Chats > Voice Message Transcripts to enable or disable the feature and select your preferred transcription language.
- Transcribing a Voice Note: Once activated, long-press the voice message you’ve received and tap ‘Transcribe’. The app will instantly generate a text version of the audio message for you to read at your convenience.
This process is handled entirely on your device, ensuring that the voice messages remain private. Neither WhatsApp nor external servers have access to the content, maintaining the platform’s commitment to privacy.
Privacy and Security
In line with WhatsApp’s dedication to user security, the transcription process is executed locally on the device. This ensures that your voice messages are never sent to external servers, and even WhatsApp itself cannot access them. By integrating this feature while preserving its robust end-to-end encryption, WhatsApp continues to prioritize user trust.
Key Privacy Features
- Local Processing: Transcripts are generated entirely on-device, ensuring that no one else—not even WhatsApp—can access your personal messages.
- End-to-End Encryption: The feature maintains WhatsApp’s strong privacy standards, ensuring that only the sender and recipient can access their voice messages.
Global Rollout and Language Support
The Voice Note Transcription feature is rolling out globally over the coming weeks. Initially, it supports selected languages such as English, Spanish, Portuguese, Russian, and Hindi. WhatsApp has confirmed plans to expand its language offerings soon, ensuring wider accessibility for users worldwide.
Why This Feature is a Game-Changer
This new addition addresses a common pain point for WhatsApp users: handling voice messages when audio playback isn’t feasible. Whether you’re in a crowded space, attending a quiet event, or dealing with a lengthy voice note, the transcription feature provides a convenient alternative.
Benefits of Voice Note Transcription
- Multitasking Convenience: Users can skim through voice messages while juggling other responsibilities without needing headphones.
- Accessibility Improvement: The feature enhances accessibility for individuals with hearing impairments or those who prefer text-based communication over audio.
- Enhanced Communication: Merging the personal touch of voice communication with the convenience of text allows for more flexible interactions.
Conclusion
By introducing the Voice Note Transcription feature, WhatsApp continues to innovate and enhance its platform. This tool exemplifies how technology can adapt to diverse user needs while maintaining security and privacy. Keep an eye on your app settings—this feature is rolling out soon and is set to make staying connected easier than ever. As WhatsApp expands its capabilities, users can look forward to a more personalized and efficient messaging experience that caters to their evolving communication preferences.
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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes
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