A Complete Guide On Startup Funding And Its Stages

A Complete Guide On Startup Funding And Its Stages

What is a Startup?

Innovative ideas give you the wings to fly and reach heights. Who’d know this better than the entrepreneurs of India? They are striving ahead with the motive of making India Atma Nirbhar. Self reliance will open a door to a successful Indian economy and entrepreneurship is the only key to that door.

Today, MSME is one of the most promising sectors of the Indian economy. But what exactly does a startup mean and what does an entrepreneur actually do? A startup is pretty much a self-explanatory term. It means to start your own business or venture with your own unique and innovative idea. The individual with a knack of innovative ideas who wants to turn those ideas into a business venture and commercialise them is known as an entrepreneur. Moreover, entrepreneurship is full of challenges. Ideally, an entrepreneur is the one who fights back the challenges and efficiently solves the problems in the way.

A startup in its initial stages faces numerous challenges. The biggest challenge being the fund raising. The entrepreneurs usually lack the financial resources and are required to fetch it from the sources. A startup needs financial assistance from the very first step. Be it developing the prototype or building the proof of concept, everything requires finances which the entrepreneurs don’t have yet.

What Is Startup Funding?

Lack of capital and a potent business model is the fundamental nature of the startup. A startup, irrespective of its size or niche, requires funding assistance. Funding is the crucial part of turning innovative ideas into reality. A startup venture requires funding assistance to keep functioning at every stage. An idea needs proper execution to turn into a successful startup venture. Executing a plan asks for ample resources which the startup lacks. Then what does it do to meet its financial needs?

That’s when the startup funding comes into the scene. Startup funding is when the financial assistance is provided through external sources to the startups. The sources of such funding can be anywhere between a bank loan to a Venture Capitalist. There are various stages of the startup funding process that a startup goes through in order to avail the funds. Raising funds is not an easy task and “How to startup funding?” is one of the most difficult questions faced by entrepreneurs. There are various stages of startup funding:

  • Pre-Seed Funding/
  • Bootstrapping
  • Seed Funding
  • Series A/ Venture
  • Capital
  • Series B
  • Series C
  • Series D
  • IPO

Startup Funding Stages Explained

There are various types of startup funding as mentioned before. Going through various stages of funding is how the startups can avail different types of startup funding. If you are a budding entrepreneur who is yet to enter the market, hold on. Here we are going to explain the various startup funding stages in brief for you.

Pre-Seed Funding: Pre-Seed funding is the initial stage of funding when the startups require the capital to begin product development. Here, the equities are exchanged for product development. This stage of funding is aimed to help the budding entrepreneurs and mostly the investors here are the close friends and families of the entrepreneurs.

Seed Funding: Seed Funding is when the angel investors engage with the startup businesses during their early stages. This can be either during the formation stage or later on. The product development process must be completed during this stage.This round of funding is aimed to prove that the product is market-fit and ready to roll out.

Series A/ Venture Capital: Series A is also known as venture capital funding. This is one of the first rounds of the venture capital funding process. During this stage the startup is expected to have completed the product development process and should have proven that it is marketable. The startup should have a working business model and must be scalable in nature. The super angel investors or the venture capitalists are the ones who invest in startups during this stage. The stocks are exchanged with the investor during this round.

Series B: This round of funding aims at expansion and further development of the startup venture. Here, the startup is running full fledged and is looking for financial assistance to expand the business. This funding is ideally used to grow the business to the next level after utilising the series A funding for establishing a user base and having a proven track record of running successfully.

Series C: The startups which are already well established and running successfully go for Series C of funding. Here, the funding is aimed at developing new products, market expansion and to acquire other companies. In this round of funding, investments are attracted for an already successful startup. The main aim of the startup is to utilise this funding for scaling as quickly as possible and this might involve acquiring other companies in the process as well. The investors at this stage are in the form of hedge funds, investment banks, private equity firms, etc.

Series D: This stage of funding is where the venture capital firms come into the picture. This stage of funding is for the companies or startups that haven’t gone out in the public yet. At this stage the mergers are highly possible. This round is conducted if the startup was not able to acquire enough funding through Series C of funding.

IPO: This is the stage where the public participation comes in the form of shares purchased by them. IPO stands for Initial Public Offering. Here, a private corporation offers shares to the public in a new stock issuance for the first time. The corporation raises equity capital from public investors directly.

Want To Go For Funding?

Are you a budding entrepreneur who is thinking about beginning your startup venture and don’t know how to go about it? Get on a call with Egniol Services’ expert to receive the best consultancy and assistance for all types of businesses out there. We provide end-to-end services for startups. From assisting a startup to avail conventional funding or government startup funding to completing their branding process, we provide all. Egniol Services is your one stop solution for all your startup needs.
Book an appointment now to begin your fund acquisition process today with Egniol Services.

PMMSY A Boost For Fisheries Sector

PMMSY: A Boost For Fisheries Sector 

Fisheries Sector Of India

The fabric of an economy is made with different threads. All these threads contribute their parts to the economy. There are numerous small and big sectors in our country that perform their best to make up a successful economy. Out of these, Fisheries is one of the most promising sectors of the Indian economy.

It has seen major developments over the years and now stands as a significant sector with a contribution of around 1.07 % to the total GDP. This sunrise sector of India is the source of livelihood for more than 16 Million of the Indian population. It mainly comprises marine fisheries and inland fisheries. The Blue Revolution of this sector aims to achieve an increase in fisheries production, and a rise in aquaculture and fisheries resources.

To promote and support this sector, the government has launched PMMSY Scheme. This scheme is all about catalysing the growth and development of the fisheries sector of India. Let’s get to know more about PMMSY.

What is PMMSY?

What is PMMSY

PMMSY full form – Pradhan Mantri Matsya Sampada Yojana is a scheme that aims to bring in the Blue Revolution with sustainable & responsible development. This scheme has been approved by the Union Cabinet which was chaired by Prime Minister Shri Narendra Modi. It broadly has two components – Central Sector Scheme (CS) and Centrally Sponsored Scheme (CSS). The total estimated investment of PMMSY is INR 20,050 Crore. The Pradhan Mantri Matsya Sampada Yojana will be implemented during a period of five years (2020-21 to 2024-25).

PMMSY is implemented by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India. The broader objective of this scheme is to address the gaps in the fisheries value chain by modernising and strengthening it.

Objectives Of PMMSY

The Goals of PMMSY Yojana are divided into three parts – Fish Production & Productivity, Economic Value Addition, Income Enhancement & Employment Generation. The main objective of the scheme is the development of the fisheries and aquaculture sectors.

  • Promote the potential of the fisheries sector with sustainable, responsible, and equitable practices.
  • Increase fish production and its productive capacity through various measures of expansion, intensification, diversification, and productive utilisation of the land and water resources.
  • Modernisation and strengthening of the value chain.
  • Increase the income of the fishers and fish farmers by generating meaningful employment.
  • Boost the fisheries sector’s contribution to Agricultural GVA & exports
  • Making sure of the availability of social, physical, and economic security for fishers and fishing farmers.
  • Strengthening of the fisheries management and regulatory framework.

Benefits of PMMSY

The Pradhan Mantri Matsya Sampada Yojana Registration is beneficial to the targeted sector in numerous ways:

  • The critical gaps in the fisheries sector are getting addressed and worked upon.
  • Enhancing fishing production rate and productivity of all the relevant resources in a
  • sustainable & responsible manner.
  • Making certified quality fish seed and feed accessible.
  • Implementing effective aquatic health management.
  • Betterment of infrastructure – modernisation & strengthening of the value chain.
  • Meaningful direct employment generation and indirect employment opportunities.
  • Making the fisheries sector efficient for competition and raising more investments.
  • Increase in the income of fish farmers and fish workers
  • Ensure social, physical, and economic security for fishermen and fishing farmers.

Eligibility For PMMSY

Eligibility For PMMSY

There are certain criteria for the applicant to be eligible for the PMMSY Subsidy as per the guidelines of the Pradhan Mantri Matsya Sampada Yojana Scheme.

  • Fishers
  • Fish Farmers
  • Fish Vendor and Worker
  • Development Corporation of Fisheries
  • SHG/ JLG in the fisheries sector
  • Fisheries federation
  • Fisheries cooperatives
  • Entrepreneurs and private firm
  • FFPO (Fish Farmers Producer Organisation or Companies)
  • Scheduled Caste/ Scheduled Tribe/ Women/ Differently abled people
  • State Government/ UTC
  • State Fisheries Development Board (SFDB)
  • The Central government and their entities

Want To Apply?

Do you want to avail the PMMSY subsidy? Then begin with the procedure of filling up the PMMSY application form. If you were wondering how to apply for PMMSY Scheme online then let us tell you that it is a systematic procedure for the application that one needs to follow. Moreover, a set of necessary documents is required for the application process.

Looking for help to complete this time-consuming task? Then get in touch with Egniol Services. We provide the best consultancy and assistance services for startups and businesses. Our team of experts provides end-to-end service to avail government grants and funding schemes for your business. Begin your Pradhan Mantri Matsya Sampada Yojana Application Form filling procedure with Egniol Services today.

Innopreneurs Season 9 Is Here Don’t Miss Out Apply Today

Innopreneurs Season 9 Is Here: Don’t Miss Out, Apply Today!

Listen Up, Innovators!

What is innovation? It is the phenomenon of bringing revolutionary ideas to fruition. In simpler words, it refers to bringing in change for the better. Change is inevitable and it is brought in by various mediums or ways. In an economy, entrepreneurs are the innovators. They are the medium of change in an economic setting. There are various driving forces in an economy that encourage and influence the growth of the startup ecosystem.

“Lemon ideas” comes from a similar school of thought. It encourages startups to present their innovative startup ideas and provides them with a platform to ignite the spirit of competitive entrepreneurship. This acts as an encouraging platform for budding entrepreneurs and on top of that provides them with several benefits.

What is Innopreneurs Season 9?

What is Innopreneurs Season 9

It is a platform where entrepreneurs can compete based on their new innovative startup ideas. It is one of the most awaited and happening startup contests for entrepreneurs in South Asia. It will be spread and running in 6 months across the nations with more than 50 pitching rounds. The top 150 winners with startup ideas will compete in the pre-finale and finale round for the coveted benefits and prizes. The participants can avail of various benefits and get a chance to win several exciting prizes.

The Innopreneurs Idea Contest is where innovators who missed the chance to showcase their most innovative startup ideas in the Startup Contest will get another chance to showcase them. This will also be spread across in 4 months and again more than 50 pitching rounds will be held. This will run parallel to the Startup Contest but will have a separate set of exciting prizes and benefits. The top winners here will get the chance to enter the pre-finale round of the Startup Contest.

Focus Sectors Of Innopreneurs

The contest is open for unique startup ideas from these sectors:

  • Atma Nirbhar Bharat
  • Biotechnology
  • Cloud/ AI / ML / Data Science
  • Hospitality & events/
  • Tourism
  • Social Impact
  • Ed Tech / NEP
  • Environment & Sustainability
  • D2C / E-Commerce / Retail
  • Web 3.0
  • Energy
  • Manufacturing
  • Healthcare
  • Services
  • Finance
  • Agriculture
  • Others

Eligibility For Innopreneurs

New business startup ideas that fulfil the following criteria are eligible for application:

  • Must have a passion for innovation and bringing change to the startup economy
  • Must be at the Idea stage, POC stage, or MVP stage
  • The applicant must be above the age of 18 years. Thus, opening the door for young minds

Along with this, the applicant must have a business summary and basic startup details or presentation

Benefits Of Innopreneurs

There are several exciting prizes and benefits for the best startup ideas that participate in Innopreneur Season 9 as follows:

  • 15K USD worth of prizes
  • 1.5K USD of cash prizes dedicated to the Idea Contest
  • 1 Million USD of Funding Available
  • Mentoring and guidance
  • Incubation support

Apply Before It’s Too Late!

Startup or Prototype/MVP based on innovative and unique startup ideas must make the most out of this opportunity. Lemon Ideas has been helping startups since 2014. It recently announced the 9th Season of the Innopreneurs Contest for business startup ideas that have a unique and innovative touch to them.

If you think you have the most innovative startup ideas then Startup Contest is the platform for you. Avail of the benefits and get a chance to win exciting prizes. Along with that, your startup gets the chance to network and receive guidance from industry mentors too. Whereas, if you just have unique startup ideas then participate in the Idea Contest to win amazing prizes. Here you also get a chance to enter the pre-finale stage of the Startup Contest if you stand in the top winners’ line.

Apply now before it’s too late! The last date to apply is 6th January 2022. So make haste and get in touch with Egniol Services to begin your application process. Our team of experts provides your startup with the best services possible. We, at Egniol Services, strive to provide you with comprehensive services. Consult today, you don’t want to miss out on this contest!

AVISHKAR (AGRI-BUSINESS INCUBATION PROGRAM)

AVISHKAR (AGRI-BUSINESS INCUBATION PROGRAM) UNDER RKVY-RAFTAAR

One of the most prominent programmes run by the Indian government is the Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation (RKVY-RAFTAAR). Building an Agripreneurship & Agri-Business ecosystem in the country, providing funding for aspiring Agristartups, and encouraging a system of business incubation are all ways this initiative hopes to develop infrastructure in the Agriculture and Allied industries.

Under the RKVY Raftaar – Startup Agri-Business Incubation Program, promising businesses with a minimum viable product (MVP) based on innovative solutions/processes/products/services/business models in the agriculture and related industry would receive financial assistance of up to Rs. 25 lakhs. The candidate incubatees would receive funding based on their actual needs and the assessment/evaluation of their business plans by the programme selection committee, whose decision in this regard would be final.

The incubates will be able to get their products, services, business platforms, etc. out into the market and scale up their operations more quickly, increasing the likelihood of their success. Because of this assistance, they will be better able to secure funding from angel investors and venture capitalists, as well as loans from commercial banks and other financial institutions, which will allow them to expand their business operations.

Objectives of Avishkar Scheme:

  • To ensure that deserving incubatees receive timely financing and incubation support.
  • To facilitate the transition of the minimal viable product (MVP) into a commercial state and to expand the product and business.
  • To provide a platform for speedier testing and adjustment of their techniques or minimal viable product (MVP) based on creative solutions/ processes/ products/ services/ business models, etc. in preparation for scaling up.

Eligibility Criteria For Avishkar Scheme:

  • The applicant must be a legal entity registered in India.
  • The applicant must be an Indian startup per DIPP notice. This assistance is not intended for Indian subsidiaries of MNCs and international firms.
  • A once-supported startup is ineligible to apply for further rounds of seed funding.

The pattern of Funding Support and Release of Funds For Avishkar Scheme:

To ensure incubatee/private involvement in the programme, the incubatee will bear 15 percent of the proportional project cost. The remaining 85 percent of the project’s proportionate cost up to a maximum of INR 25/- lakhs will be covered by the RKVY-RAFTAAR scheme, which will be released in three instalments as detailed below:

  • After the signing of the agreement between the Incubator/RABI and the incubatee, the first instalment of 40% of the approved project for seed funding will be released.
  • The second instalment of 40% will be released to the incubatee upon the recommendation of the Incubation Committee based on their performance and achievement of milestones, as well as upon the use of 40% of the previously released amount and receipt of a provisional UC for 80% of the previously released funds.
  • The third instalment of 20% will be released to the incubatee upon the recommendation of the KRISHIK- Agri Business, UAS, Dharwad Incubator Committee, based on the incubatee’s performance and achievement of milestones, as well as the utilisation of 80% of the previously released amount and receipt of provisional UC for 80% of the previously released funds.

Broad Activities to be supported under Grant-in-aid Funding For Avishkar Scheme:

This Avishkar Programme would support the costs associated with the following activities:

  • Product Refinement/Testing and Trials/ Test Marketing/ Marketing launch
  • Expenses on data generation/data acquisition for ideas working on IT side/AI side
  • Fees for IP issues/one time technology licensing fees
  • Manpower for day to day operations
  • Day to day operational expenses like electricity bill, incubation charges etc.
  • Any other area/activity as deemed necessary and recommended by KRISHIK- UAS, Dharwad Agri Business Incubator Incubation Committee.

Focus Areas For Avishkar Scheme:

Fous Sector for Avishkar
  • Organic Farming
  • Precision Farming
  • Agricultural Supply Chain
  • Agricultural Biotechnology
  • Post Harvest & Food Technology
  • Food Processing
  • IoT, ICT and AI in Agriculture
  • Natural Resource Management
  • Animal Husbandry, Dairying
  • Agri-Input tools and technologies
  • Farm Mechanisation
  • Agriculture Engineering
  • Agri Ext Education
  • Waste to Wealth, Secondary Agriculture
  • Agri Clinics & Farm Health services

Egniol’s objective is to create India’s largest MSME and startup ecosystem. In order to accomplish this, Egniol offers comprehensive solutions for the broadest spectrum of government benefits, management consulting, training, and mentorship for MSMEs & Startups. We are here to provide consultation and direction for a variety of initiatives and services. Get in touch with us for more information.

8 Government Schemes That Aim To Support Women Entrepreneurs

8 Government Schemes That Aim To Boost Women Entrepreneurship In India

Government Supports Business Women Of India

A country runs on two wheels: equality and equity. Equality of opportunity and Equity in terms of the distribution of resources. Everyone should get an equal chance to win in life and perform their best as per their skills and abilities. Hence, in this run, resources must be divided in such a manner that the marginalised, needy and vulnerable get the bigger share, to begin from the same starting point as others who already have enough resources with them. It brings them to the same starting line and only then the race is fair and just. 

Women have always been on this side of the line. They deserve equal opportunities and chances. The government focuses on ensuring that women get the resources they need to make the most out of the opportunities they get. They need support and nurturing from the government to strengthen their ideas and expand their business. The government launches special schemes and policies to catalyse the ventures of women entrepreneurs in India. The schemes and policies are curated keeping the problems faced by women entrepreneurs in mind. Let us look at some of the government policies and schemes which are specially launched for Indian women entrepreneurs.

Government Schemes for Women Entrepreneurs

Women entrepreneurship in India is not a cakewalk. The government is constantly working on building a women-friendly business environment in the country with various measures. More and more women are encouraged to begin their startup ventures based on their innovative ideas to build their niche. This spirit of women entrepreneurship is supported by the government with the following startup schemes and policies:

Mudra Yojana Scheme
This scheme is for women who want to begin with or expand their small businesses. This scheme is highly beneficial as they can apply for a loan for beginning their small ventures like salons, stitching/tailoring business, tuition, etc. without requiring the collateral/guarantor for the loan. Mudra loan for women ranges between Rs. 50,000 to Rs. 10 Lakhs. There are several categories into which this amount is divided.

Dena Shakti Scheme
Dena Shakti Scheme provides loans of up to Rs. 20 Lakhs for women entrepreneurs from the sectors of Partnership firm business, Retail stores, Manufacturing sector, Microcredit organisations, Housing, Agriculture, and Education. It also provides a 0.25% concession on the interest rate.

Mahila Udyam Nidhi Scheme
This scheme is in alliance with Punjab National Bank & SIDBI for women entrepreneurs who want to set up a new small-scale business. Loans of up to Rs.10 Lakhs which shall be repaid in 10 years are offered under this scheme. The rate of interest depends on the market trends of the rates.

Udyogini Scheme
This scheme is for rural women who want to begin their businesses but have nothing at all, to begin with. It is implemented by the Women Development Corporation under the Government of India. This scheme is specially designed for women who come from comparatively poor and struggling backgrounds with the annual income of the household being below Rs. 1.5 Lakhs. Women Entrepreneurs can avail of loans of up to rs. 3 Lakhs at an extremely low rate of interest.

Synd Mahila Shakti Scheme
This scheme is introduced by the Syndicate bank with the objective to help and support women entrepreneurs to develop their businesses with financial assistance. It provides business loans for working capital or to expand the business. Loans of up to Rs. 5 crores are provided with a concession on the interest rate.

Cent Kalyani Scheme
Women Entrepreneurs who want to expand their SMEs can avail of loans of up to Rs. 100 Lakhs sanctioned under this scheme launched by the Central Bank of India. The loans are sanctioned without any requirement for collaterals or processing fees.

Bhartiya Mahila Bank Business Loan
This scheme is a part of the State Bank of India (SBI) which aims at providing help to women entrepreneurs with the development of their already existing businesses and economic empowerment to become financially independent. Loans are provided for working capital or business expansion with a lucrative interest rate. An applicant can also avail of grants of up to Rs. 1 Crore without the need for collateral under CGTMSE.

Startup India Certificate for Entrepreneurs
Under the “Startup India, Stand-up India“ project, the government of India launched the Startup India Certificate for Entrepreneurs in the year of 2015. This startup India scheme for women has numerous benefits for the budding entrepreneurs of the country and aims at providing the support and impetus needed for the startup sector of the country.

Women Are The Future

Women Are The Future for Women Entrepreneurs

The current status of women entrepreneurship in India is far better than what it was a few years back. Women entrepreneurs are giving a new direction to the startup ecosystem of the country. In the upcoming times, we are about to see women of the nation take over the market with their innovative ideas. Women make up about over 14% of business owners now.

The government startup schemes and measures to support women with their ventures have proved quite successful so far. Schemes like Women Enterprise Development are assisting these women-led businesses financially and helping them expand their business into successful ventures. Even those women entrepreneurs who have nothing but innovative ideas, to begin with, are supported and provided with the necessary assistance to take the first step of their startup journey.

Apply For Assistance Now

Women Entrepreneurs must avail these opportunities and take the first step towards their successful business venture. It’s your time to shine bright with your innovative ideas and become financially independent. If you are a budding entrepreneur with no other support or guidance then you need to consult experts to understand how to expand your business.

Starting a business comes with various documentation and paperwork. Be it incorporating your company or applying for schemes to avail the funds. At Egniol Services, we help entrepreneurs achieve their startup goals. We provide business consultancy and complete assistance for all your business needs. We help startups to apply for government grants and funding schemes with all the necessary documentation and paperwork. Our team of expert professionals guides and coordinates with you throughout the application procedure. Get in touch to know more.

TReDS For MSMEs a Complete Guide

TReDS For MSMEs: A Complete Guide

MSMEs Of India

“A strong economy is the source of national strength”-Yoshida Suga. Economic growth is the foundation of national growth. It is the key to the development and prosperity of a country. The primary focus of any country should always be economic growth to strive toward the direction of development and prosperity. Hence, the government focuses on economic growth and injects impetus as and when needed. 

The government frequently launches grants and funding schemes for the sector which needs additional support and nurturing for growth and development. These schemes provide much-needed support in various forms. They are curated keeping the challenges in mind. One such impetus is the TReDS scheme, conceptualised to solve the problem of fund availability for the MSMEs. Let us begin with understanding TReDS better.

What is TReDS?

What is TReDS

First things first, the full form of TReDS is Trade Receivable Discounting System. It is an online platform launched for MSMEs. It allows the MSMEs to systemize and manage the trade receivables/discounting bills. It enables the availability of short term financing. This aims to solve the issue of unpaid invoices and discounting bills management. 

This online platform launched by the RBI in 2018, helps the MSMEs to avail discounting on their bills and invoices. It is curated for faster payment and cutting down the annual interest payouts for SMEs. TReDS basically aims to become a credit extender (where discount = interest paid to the financier) and allows lenders to fund the trade receivables. The broader objective of the scheme is to ease out the credit or discount availing process on Trade Receivables for the MSMEs. It is a payment system that is authorised under the PSS Act. 

Features of TReDS

TReDS basically solves the problem of lack of available funds, inadequate cash flow that hampers day-to-day operations, negative impact on the business, and credit score getting affected resulting in difficulties for credit obtaining ahead. 

  • A common platform for MSME sellers, corporate buyers, and banks
  • Online transactions
  • Easy access to funds
  • Ensured data flow with a standardized process.
  • Competitive discount rates
  • Working capital is accessible between 24 to 72 hours
  • Shorter cash cycles
  • Collateral is not required for bill discounting service

TReDS Registration Benefits

  • Proper tracking of cash flow for buyers
  • Smooth and error free payment cycles for buyers
  • Less paperwork and money required for buyers
  • Vendors will be able to acquire receipt of funds
  • Access to a broader market for the financer
  • Instrument qualification is ensured
  • Operational cost is reduced

Eligibility For TReDS

Eligibility For TReDS

Who can participate in the TReDS? The answer is 

  • Corporates, Government Departments, PSUs, and other entities that want to participate as a buyer.
  • For financiers – banks, NBFC Factors and RBI-permitted financial institutions and
  • Only MSMEs can participate as a seller.

Want To Apply?

A digital portal like TReDS enables easier access to funds in advance against trade receivables for the MSMEs. As a result, the liquidity needs are met easily and businesses are managed in a better way. All this is possible because of a faster TReDS MSME payment platform that gives quick access to the funds.

Now that you know about the various benefits of the scheme, you must consider moving ahead with your TReDS registration process. You need someone who knows the answer to the “What is TReDS registration and how to go about it?” question. At Egniol Services, we help startups to receive their growth goals by providing the best consultancy services. Our team of experts will assist you throughout the application process with all the necessary documentation and paperwork. Begin your application process today with Egniol. Contact us to know more.

B2B Business Owners! Get Sales Support Service To Sky Rocket Your Sales

B2B Business Owners! Get Sales Support Service To Sky Rocket Your Sales.

Business Is The New Audience

The most important question that you could ask yourself for your business would be – “Who is my target audience?” Knowing your audience better is the key to running a successful business venture. All businesses have different end goals. Some may be selling to retail customers while others may have other big businesses as their customers. You need to decide in which jargon your business fits on the basis of your audience and end goal. This helps you to reach out to your audience in a strategic manner with a customised marketing approach.

What is B2B? Businesses that have other businesses as their audience are known as B2B. B2B stands for Business to Business, which means the transaction is happening between businesses where one of them might be a wholesaler while the other is a manufacturer or both the parties involved may be a wholesaler and a retailer. Hence, the marketing would be targeted toward other businesses. The advertising activities should be such that they should engage and catch the attention of other businesses. B2B sales marketing strategy mostly involves traditional marketing techniques. You need an expert to serve you with sales support here because B2B marketing is not as easy as it seems.

What is Sales Support Service?

What is Sales Support Service in B2B

The term sales support service consists of three words, let’s understand the meaning of each word then. The “sales” part here refers to the advertising activities involved in order to sell the product/services and achieve the sales target. The “support” part is where the external help comes in the form of various “services” offered by expert marketing agencies. The marketing agency provided much-needed support for the execution and strategy curation of the marketing activities.

There are various business support service practices involved in the process of B2B marketing. You can avail of various services like Whatsapp Broadcast Support, IVR, Data support, and many more. Let’s understand these services in detail.

Sales Support Services That Your Business Needs

  • WhatsApp Broadcast Support – broadcast service is used to spread the word of the brand to a large number of prospects/audiences at the same time. This still keeps the name of other recipients private. On top of that, you can manage the conversation between the prospect and the brand all by yourself.
  • Data Support – Data support is provided to gain insights that help your business get a better hold of the market. Such data helps you elevate your B2B business and optimise your marketing efforts. Businesses that are in a competitive market benefit the most from this service.
  • IVR – IVR stands for Interactive Voice Response. This is an automated calling service that enables a voice response system for businesses to create a data pool of your customers. This service helps you crack quality call leads for sales. Thus providing sales support to the businesses.
  • Auto Dialer Support – An automated dialer service is one of the most effective ways to reach out to your prospects without needing much resources. This service efficiently delivers your message to the customer and even connects the customer with respective representatives if needed. This is a smooth way to enhance your audience engagement and achieve your sales targets.
  • Digital Marketing – Digital marketing helps you create a digital presence on the platforms which are relevant to your business. This creates an online marketplace for your business and targets the right audience by implementing the best practices.
  • Skilled Manpower Support – This service provides the business with skilled and experienced manpower for the efficient functioning of the business. It adds an expert quality touch to your execution process.
  • E-commerce Support – The E-commerce business model is gaining popularity these days. It allows you to commercialise your business online on the platforms where your target audience is present. There are several e-commerce platforms that allow businesses to showcase their products and services.

Benefits of Sales Support Services

There are several benefits of onboarding a marketing expert for business support service on your team who understands the intricacies and technicalities of market and advertising. Here are just a few of them :

  • Cost Effective
    A B2B marketing agency serves you with the best results for much lesser than what it would cost you to hire an in-house marketing team. It also has an added cutting of the hiring and training process for your in-house team. You get a ready expert team without all the extra expenses that are wasted on employee benefits and periodic salary payments. You just pay for what you want.
  • High-Quality Leads
    Joining hands with a B2B marketing agency means receiving quality leads and meeting your sales target effortlessly. The conversion rate shoots up with a marketing agency on your side.
  • Expert’s touch
    There is always a difference between an expert doing a job and others doing that same job. The added benefit of their skills and vast knowledge applied in the curation process of your marketing strategy is what we are talking about. The expert’s touch always makes your marketing activities stand out from the crowd.
  • Stay Adaptable
    You are capable of switching between different campaigns or running two different campaigns simultaneously. You become more flexible and adaptive to the needs of the market. It allows you to modify your marketing plan according to the changing nature of the business and the market.
  • Stay Sustainable
    Your business will save up a lot of revenue by not having a full-time in-house marketing team that keeps sucking at your budget at every month’s end. You can put that saved resource in the developmental cracks of your business and strengthen the business.

Need The Support For Your Sales?

A B2B Business in India must hire an agency for sales support and services to expand their business and achieve their desired sales target. B2B marketing is a complex phenomenon that requires experience and in-depth knowledge. Hence, a B2B Business in India must hire an agency for sales support and services to expand their business and achieve their desired sales target. 

Egniol Services provides the best consultation services and assistance for all types of businesses out there! If you are a B2B Business owner who is looking for sales support services then you must get in touch with experts of Egniol Services today. Receive excellent advice to expand your business with Egniol by your side. Here is our first advice for you – “Make the right choices for your business, choose Egniol”.

Here’s What MSMEs Need To Know About SIDBI

Here’s What MSMEs Need To Know About SIDBI

MSMEs Of India

Huge achievements are built on the foundation of constant small changes in. A country’s economy is a dynamic of such big and small consistent changes. Various sectors strive to contribute their best share to the country’s GDP. Some of them are performing better than the rest. The others need aid and support to function at their optimal level. Apart from this, India is also progressing in the direction of becoming a self reliant country. Hence, the primary focus of the government is providing support to such innovative initiatives from smaller sectors that are on the lines of becoming self reliant. 

Micro, Small, and Medium Enterprises is one of the most promising sectors of the country. The Government frequently launches initiatives to aid this budding sector with financial assistance. SIDBI is one such initiative to help develop the MSME sector better. Let us understand SIDBI better and know about its various features.

What is SIDBI?

What is SIDBI

First things first, here is the SIDBI full form – Small   Industries Development Bank of India is established as a subsidiary entity of IDBI (Industrial Development Bank of India). It aims at providing much needed financial support to the MSME sector of India. It works along with other institutions to enable support for the targeted sector. It provides support in the form of direct and indirect lending. 

It helps the MSMEs with fund acquisition, market entry, product development, and commercialization. There are several SIDBI schemes and financial services for the small scale industries. The broader aim of SIDBI is to promote an increment of cash flow in the MSME market. It will also enhance the global performance of MSMEs.

Objectives of SIDBI

As you know the main aim of SIDBI is to strengthen the MSME sector, now let us look at the overall objectives of SIDBI.

  • Promote development in the MSME sector.
  • Enhance customer service and better functioning
  • Better management
  • Smooth coordination with the several institutions which are part of the process
  • Providing loans according to the unique needs of the MSMEs as financial assistance.
  • Increase the credit flow
  • Helping with the upgradation of technology
  • Encourage innovative ideas that can generate employment opportunities

Functions of SIDBI

  • Loan provision and financial assistance for MSMEs
  • Expansion of marketing mediums for small businesses
  • Refinancing loans that are lent by the PLIs to small scale industries
  • Support sustainable development and energy conservation in the MSME sector
  • Enabling technological upgradation for implementation of modernisation
  • Increasing the credit flow
  • Provision of loans through various financial institutions
  • Ensuring financial health across the industry
  • Provides Venture funding offer
  • Promoting employment generating activities

SIDBI Schemes

There are several schemes offered under SIDBI for direct loans to MSMEs. Let’s take a quick glance at these schemes:

  • SIDBI Make In India Soft Loan Fund for Micro, Small & Medium Enterprises (SMILE)
  • Loans under Partnership with OEM
  • Smile Equipment Finance (SEF)
  • Working Capital
  • Loan for Purchase of Equipment for Enterprise’s Development (SPEED)
  • SIDBI Trade Finance Scheme (STFS)
  • SPEED PLUS
  • Top-up Loan for Immediate Purposes (TULIP)
  • SIDBI – Retail Loan Scheme For Trade Finance (RLS)
  • SIDBI Term-loan Assistance for Rooftop Solar PV Plants (STAR)
  • SIDBI Assistance to Facilitate Emergency Response Against Coronavirus Plus (SAFE PLUS)
  • SIDBI Assistance to Facilitate Emergency Response Against Coronavirus (SAFE)

Benefits of SIDBI

Benefits of SIDBI

SIDBI provides assistance to MSMEs in numerous ways. It has a holistic approach to supporting and strengthening this sector. Here are some of the benefits of SIDBI schemes for entrepreneurs:

  • Customised Credits – Loans which are customised as per the need of the business. Funding businesses in the right way is the goal of SIDBI.
  • Lower Interest rates – SIDBI offers loans at attractive rates to the MSMEs since it is coordinated with several other banks and financial institutions.
  • A holistic approach – SIDBI provides overall support along with guidance and direction along with financial assistance.
  • No need for Collateral for Funding – Up to Rs. 1 Crore of Loans can be availed by the businesses from SIDBI without having to submit any type of collateral.
  • Transparent Procedure – the complete loan process and even the rate structure are transparent. There are no hidden charges implied in this process.

What Are You Waiting For?

Budding entrepreneurs must make the most out of SIDBI! You can’t miss this opportunity to avail funding for your business at such attractive rates. To top it off, there are numerous other benefits that your business can enjoy along with the acquired credit. Now, are you wondering how to go about it?

Apply for SIDBI with Egniol Services today. We provide the best consultancy and assistance for startups. Our team of experts, helps you with the procedure of availing grants and funding Government schemes with all the necessary documentation. Contact Egniol Services today, to begin the application process. 

Healthcare Innovators Apply For Aarogyam Challenge Now!

Healthcare Innovators Apply For Aarogyam Challenge Now!

The Healthcare Sector Of India

A strong healthcare system is the backbone of a healthy nation. It strengthens the economy by improving the general health status. This enables individuals and families to contribute to national growth without any burden or health liability. The Pandemic was a shock wave to the entire economy. It has thrown light on the importance of the healthcare sector in the country and made it evident that it is the key to a better lifestyle for everyone. 

The health sector of India is witnessing a massive surge of entrepreneurial ventures. Innovation and new ideas are much needed for the growth of the health sector in India. Hence, the government is supporting such entrepreneurial ventures with grants and funding schemes. The budding healthcare startups are about to receive encouragement in the form of schemes and challenges that will help them with the post initial stage of the startup journey. Aarogyam is an accelerator and challenge on the same lines. Let us understand what Aarogyam is all about.

What is Aarogyam?

What is Aarogyam

Aarogyam is an accelerator and challenge for healthcare startups in India which are beyond the MVP stage. The challenge aims to recognize the potential future healthcare startups that are already past the initial stage of ideation. It focuses on concrete projects that have a prototype of their product/service and have already entered the market. The challenge is supported by the Atal Innovation Mission and organised by the AICGUSEC.

The broader aim of the challenge is to inculcate innovation, accessibility, and affordability into the healthcare sector. This is a drive to make healthcare better and affordable for all the strata of society. The ageing population and a steep decline in birth rates as well as increased healthcare expenditure calls for insightful actions in the concerned sector.

Targeted Areas

The BIG scheme mainly aims to foster and nurture the entrepreneurial spirit to transform innovative ideas commercially. This is aimed at enabling the biotech startup economy to be competent enough for global competition. The bigger purpose of this scheme is to act as an impetus for the formation of enterprises.

Targeted Sectors

This challenge is focused on certain areas of the healthcare sector, namely:

  • Device and Diagnostics
  • AI & ML in healthcare
  • Robotics
  • Point of Care devices
  • Wearables
  • Telemedicine & Telecommunication
  • Skills for Healthcare Workers
  • Food & Nutrition
  • Medical Tourism
  • Health Insurance

Benefits Of The Challenge

The challenge basically aims at benefitting budding healthcare startup ventures. The several benefits of the challenge are as follows

  • Financial Grant of up to Rs. 5 Lakhs
  • Investment of up to Rs. 50 Lakhs
  • Bootcamp
  • Incubation
  • Mentoring & Coaching
  • Coworking & Infrastructure
  • IPR/ Patent Facilitation
  • Investor Connects
  • Networking
  • Cloud Credits

Eligibility

There are certain criteria that the applicant of the Aarogyam challenge must have to be eligible for the same. The applicant should have Innovative Solutions in Healthcare/ Healthtech Sector, the startup must be DIPP recognized and apart from that the startup must be beyond the MVP stage/ with a demonstrable PoC.

Apply Now!

AICGUSEC organised the Aarogyam challenge which has announced its last date to accept applications from innovators. This is the call for all the entrepreneurs with innovative ideas that are converted past the MVP stage. If you are a healthcare startup owner then you must apply for the challenge before it’s too late!

The last date to apply for the challenge is 24th December 2022. That’s just around the corner, right? Don’t worry, we at Egniol Services are here to help innovative startups like yours avail the benefits of Government grants and schemes. Consult the experts of Egniol today to apply for the Aarogyam challenge now. Healthcare startups, you don’t want to miss out on this one!

Apply For BIRAC Grant 2022

The BIG 21st Call for Biotechnology Ignition Grant is out for all the innovators! It aims at igniting new ideas and supporting budding entrepreneurs with excellent potential. Do you have an innovative idea with a strong motive and a vision to provide for the gap of an unmet need? Then you can be one of the BIRAC startups! 

Apply for the BIRAC grant 2022 to avail yourself of the support and mentoring from the Government. Contact Egniol Services at the earliest in order to begin your application process. Egniol Services provides consultation and complete assistance for startups to apply for Government grants and funding schemes. Our team of experts, helps you with all the necessary documentation and guides you through the procedure of application. To apply for BIRAC grant, get in touch with our experts today.