Liberty Teller – The Machine That Revolutionises Money

By: Trisha Pande


Founded by Boston fellow and Program Leader, Chris Yim, Liberty Teller is an amazing new organization that works to popularise BitCoin – the virtual currency that is fast dominating markets, using ATMs.

BitCoin is also known as digital currency, and works on the principle of a block chain that records the transactions conducted in BitCoin. It is open-source in nature – meaning that nobody, anywhere owns it exclusively. A voluntary fee is required for one to increase the speed of the transaction process and barring that, the entire usage of BitCoin is absolutely free!


So how does Liberty Teller come into the picture?
Over the past year, Chris Yim and Kyle Powers have placed their BitCoin ATM machines (now being rebranded as LibertyX by the founders and popularly being called LTMs by the people) in four locations in Boston. After placing these machines at MIT and Harvard they were asked to place these in various different locations as well.
By scanning their QR code into the ATM, the user can insert an amount in US dollars into the machine’s slot and acquire the equivalent in BitCoin into their account.
This works wonders in bringing down the amount of time and effort that it takes in converting money into BitCoin. A plastic wallet can be bought by the machine, or a digital wallet can be downloaded from the app stores in order to spend the BitCoin that are purchased.

Although the entire concept is rather confusing for the common man, it is predicted to be a breakthrough in money and payment – and indeed a very big leap, marking the transition from paper money to entirely an entirely digitized form of payment. This is displayed in the increasing number of people that accept BitCoin today – over 60,000 merchants including but not limited to Ebay (UK) and!



ExtraaEdge selected for DMZ Zone Startups Accelerator Program

url.jpgExtraaEdge is an ed-tech product startup from Pune, India that has been selected for the prestigious DMZ Zone Startups Accelerator Program.

Zone Startups is the international footprint of the Toronto-based Ryerson Futures Inc. – the technology accelerator and investment arm of Ryerson University. Zone Startups/India is a collaboration between BSE Institute (a subsidiary of the Bombay Stock Exchange), Ryerson University’s Digital Media Zone (incubator), Ryerson Futures Inc and Simon Fraser University (SFU). Zone Startups is located in the Bombay Stock Exchange tower in Mumbai.Zone Startups offer State of the art work space, Mentorship – Functional, Business Experts & Industry Panel, Market Development & Business Development Support, Networking & Branding opportunities,Funding Opportunity, Access to North American market and Peer-to-Peer mentoring. Co-Founded by SLP Pune fellows Abhishek Ballabh & Sushil MundadaExtraaEdge helps educational institutions acquire, manage & serve their students year on year.
Their key offering is PotentialEDGE – a patent pending sales & marketing cloud platform for educational institutes. This helps to acquire students & increase admissions for educational institutes.
The highlights of the patent pending cloud platform PotentialEDGE are lead generation from social networks like Facebook, LinkedIn using patent pending search engine, lead management from different existing sources, engaging prospective students by showcasing your unique value proposition, communication, notification workflows for effective tracking as well as lead behaviour analysis and finally, actionable metrics to track student leads to closure.
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Delta ID Raises 5 Million

By Pragya Yadav

Yet another Series A financing closes with SLP fellow Salil Prabhakar’s company Delta ID Inc. receiving $5 million from Intel Capital among various other investors. Prabhakar, a graduate from the Indian Institute of Technology went on to do his post-graduation from Michigan State University. He is an experienced Biometrics Professional who also has computer software knowledge. His company Delta ID Inc. focuses on bring secure and convenient biometric authentication to mass-market computing devices. Delta ID is based in Newark, California.

Delta ID’s ActiveIRIS® technology includes patent-pending software to enable iris recognition using simple hardware that can be easily integrated in mainstream applications like mobiles and PC devices. This revolutionary technology is essentially different from other solutions available as it offers fast, convenient, secure and reliable iris recognition to the mass market.  That makes it the industry’s first iris recognition technology.

Erik Reid, vice president of Intel’s Mobile and Communication group, commented stating that biometric technology will increasingly become a part of how people interact with personal computing and mobile devices. Also, that Delta ID is a part of a key initiative of intel to eliminate the hassle of passwords and Intel intends to support and accelerate the adoption of iris recognition. The funding by Intel Capital, which is a global investment and M&A organization, has raised Delta ID’s total capital to $6.1 million. Funding will help the company meet rapidly growing demand for its products from some of the world’s largest and most prominent device makers.





Pragya Yadav is part of our talented team of Marketing Interns.

She is a second year student of Lady Shri Ram College for Women, University of Delhi, is currently pursuing Economics. She has an enthusiastic and a passionate footballer and has represented her school, state and college at various tournaments from the past 5 years. In spite of being a resident of Delhi she loves to explore the city through the lens of a traveler. She’s a project executive at Enactus in her college. Enactus is a worldwide community of students and business leaders who enable progress for themselves and the community through entrepreneurial- based projects that empower people to transform opportunities into real sustainable models. On weekends, she volunteers with Becoming I where she’s a project coordinator and she teaches underprivileged kids sports.

The costs of expansion for an SaaS company!

By Pragya Yadav

Recently, I came across an article titled, “Why you need just about $3,000,000 to build your first real sales and marketing team” by Jason M Lemkin, a trusted advisor at SaaStr. Saastr is a social community of 1000+ SaaS founders and executives and almost 1,000,000 viewers a month dedicated to sharing best learnings, insights and practices around building and scaling SaaS business from nothing, to Initial Traction, to Initial Scale, and beyond. The blog delves into the negative impacts of not expanding as inflow of investment rises.

For entrepreneurs who have received the initial traction of about $1.5-2 million and have an at least 100% year on year growth rate it means that the product’s consumer base and revenue is compounding and that a brand is being established. Hence, it is time to grow bigger. Not expanding and not hiring a specialized and experienced marketing team stunts the growth of the company and works against it. A $2.5-3 million fund is required for this team which can be potentially funded by cash flow. Despite the fact that expenses rise substantially, revenue is added per share. The cost may sound intimidating and unachievable, but if you are operating within the given model which is prematurely sales driven, not hiring means you are losing precious time. Provided you don’t respond you could still achieve a target of $3-5 million ARR (Accounting Return Revenue) which will lead to the deceleration in the growth of the firm. Leaving it at a point where it cant do without a $10million ARR. Which would be an absolute shame in a recurring revenue business where you are charging ahead to Initial scales and beyond as it leaves you with a mediocre team and a missed opportunity to grow faster.

Hence, expanding the revenue team actually proves to be an accretive investment even though it comes at an expense at least $2.5-3 million. This is ascertained by the fact that a specialized marketing team will bring in additional revenues provided they are truly great.

Though there are many dilemmas regarding expansion that might cause us to cautiously tread the path recommended by Lemkin. Firstly, we need to consider whether our competitors are expanding or not. Also, whether or not we can finance the expansion internally. An expansion is most desirable when we are willing to play a less hands-on role in the operations and are able to offset at least the administrative costs per unit.



Vavia: Connecting the dots to success!

By Pragya Yadav

A 26% equity stake in Vavia Technologies has been acquired by Spice Digital, a subsidiary of the tech firm Spice Mobility. Financial details of the deal weren’t disclosed. Vavia Technologies is a Bangalore-based information technology startup founded by Alan D’ Souza, an SLP Bangalore fellow. Alan is an entrepreneur passionate about building innovative products for mobile and web. He specializes in Digital Marketing, Web applications, E-commerce and Mobile Apps. “Vavia will develop web based products and solutions which will benefit customers of both the companies,” Spice Digital said. For Spice Mobility, this deal is another step to diversify its presence as a mobile internet firm against its core business of selling mobile handsets.

The Journey

It started out in 2008 from a small hostel dormitory-Vavia is now a team fully equipped with the right resources and infrastructure to take-up projects that deliver long-lasting returns to its clients. Vavia is a mobility and internet solutions provider company. With an extensive portfolio spanning infotainment, messaging and other content rich mobile solutions, Vavia enables telecom companies to enhance customer experience and accelerate revenue growth. They are known for their exclusivity and contemporaneity.

Vavia had also previously partnered with Spice Digital to launch its SMS-based search engine txtBrowser which is said to have crossed 300 million queries from 4 million global users. It is the world’s most preferred SMS search engine.  Other items on their portfolio include an anonymous social network app called Confess which is available for Android supporting smartphones. It allows users to share ‘secret’ communications within their connections and groups without revealing identities. Vavia also operates an anonymous chat platform called ChatHunt.

Today, they are recognized for one of the fastest deliveries. Alan believes, ‘Follow your heart and the dots will connect’. This, he says, has been the mantra for his success. “This has really inspired me and this is what keeps me going. I keep following my heart with the hope that one day all dots would connect.”







Pragya is part of our talented team of Marketing Interns.

She is a second year student at Lady Shri Ram College for Women, University of Delhi, is currently pursuing Economics. She has an enthusiastic and a passionate footballer and has represented her school, state and college at various tournaments from the past 5 years. In spite of being a resident of Delhi she loves to explore the city through the lens of a traveler. She’s a project executive at Enactus in her college. Enactus is a worldwide community of students and business leaders who enable progress for themselves and the community through entrepreneurial- based projects that empower people to transform opportunities into real sustainable models. On weekends, she volunteers with Becoming I where she’s a project coordinator and she teaches underprivileged kids sports.

SLP Session 5 – ‘Ideas don’t build businesses, people do.’

Fellow Blog by Rajesh Menon

The best ideas in the world are worth a dime if you don’t have a requisite team to help you carry the idea forward. Over the past 24 odd years that I have been working both as a business manager and as an entrepreneur, I have had enough experience to fully understand this up close and personal.

All the successes that I have had in these 24 years, I can directly attribute to the fact that I had a team that helped me achieve what I wanted to achieve and all the failures that I have had has been a result of my failure in building a good team. I have had my fair share of co-founder conflicts that have resulted in business ventures shutting down.And I have had recalcitrant team workers with whom I have had severe working relationship problems that have resulted in projects gone awry. Despite my 24 years of work experience, I still find myself struggling everyday when it comes to the team building.

Which is why I went to the last Startup Leadership Program (SLP) class with a great deal of hope of learning and better understanding from others who have had better or worse experiences than me. The Startup Leadership Program is a 6-month world class program. The class held across 12 chapters globally is run by entrepreneurs for entrepreneurs. What can be a more potent combination than learning from other entrepreneurs?

My own class has some 26 odd entrepreneurs from varied domains and industry and at varied start up stages. The boundless energy, enthusiasm and faith that collects every alternative Saturday in one room is itself worth as much as the exposure it gives. My two class CEO’s who had been designated to help us better understand the critical aspect of Team Building and Co-Founder Conflict were themselves two young start up professionals. There was Manish Hans , an undoubtedly design/ UX geek and the beautiful Nilika Krishna who runs a start up recruiting firm. As Class CEO’s they were responsible for putting together the session for the rest of us.

The session had a total of 6 guest speakers- entrepreneurs themselves who were to walk everyone through their experiences.

Gaurav & Abhinav sharing their entrepreneurial journey

The first two  speaker were Abhinav Singh and Gaurav Abrol of Cogent E-Services a 6000 strong Voice led BPO that they had kickstarted some 10 years ago . The two co-founders shared some interesting in-sights into how the company was formed and more importantly how despite the strong growth and dynamic environmental pressures they managed to survive, change track and continue to grow through their own experiences in co-founder conflict and team building. One important take out for entrepreneurs reading this was the fact that early on the team had deciding on clearly marked out responsibilities for the management team which helped in avoiding management conflict at later stages.

Saurabh accepting a token of thanks from Nilika the Class CEO

After them came the session withSaurabh Arora the founder and CEO of Airwoot. Airwoot. The young founder took the class through an interesting pyschographic test called the Jung Typology Test.  The test essentially helps plotting personality traits which one has and can be used by entrepreneurs as a tool to determine their own personality traits and how these traits interact with other key stakeholders which goes a long way in removing conflicting situations.

The next guest on the anvil was Amrita Das from HCL Technologies one of the largest IT firms in India. Amita brought to the table a large organization perspective to hiring people and motivating them. Useful information to keep at the back of the mind when you’re trying to take your company to Level Nxt.!

Saandeep holding fort on goal setting for leaders

The last guest on floor was another professionals turned entrepreneur, Saandeep Tyagi, who after decades of corporate life kicked it all to start his professional coaching firm focused on team building and leadership training. Saandeep enthralled the assembled entrepreneurs by showing goal setting should be done in the overall context of leadership.

As someone who has spent nearly 25 years working and the last 8 odd years as an entrepreneur, the sessions were useful. As entrepreneurs we often go through life thinking that we know it all and in the process we often make mistakes, which we regret deeply. Some of my ventures that I had gone into with others failed largely due to the conflicts that emerged within the management team. In hindsight I would have possibly acted differently and possibly avoided the failure.

But as they say, failure is something you learn from and move ahead. As an entrepreneur failures are part and parcel of being in business and the important thing is to get up, brush off your clothes and start something fresh again.


SLP London – Full Day Workshop

On the 1st of November at the Rainmaking Loft in St Katherine’s docks, the SLP 2015 London fellows met for a full-day workshop with the support of fellows from previous-year programme (Zoe Peden, Juan Guerra, Kumaran Veluppillai, Hugo Macedo) and mentors (Steven Hess SLP Advisor, Jason Kieles, Adrian Kingwell, Will Bagnall).
SLP Pune chapter fellow Girish V Kulkarni joined us for the session on his way to the Web Summit in Dublin.
The fellows dedicated the morning practicing pitching and delivering their stories about their startups in 3 minutes followed by a Q&A session. The fellows and guests were invited to vote on the pitch performance and the project presentation. The votes were commented at the end of the session. Guests provided feedback. Rob Hall, the founder of, won the competition and received a price: the new book “Value Proposition Design” dedicated by Dr Alex Osterwalder himself!
In the afternoon, following homework done on the subject to prepare the session, the fellows worked in three groups on their business model using the BM canvas with the help of mentors.
The workshop was concluded with a wrap-up speech by Kumaran Veluppillai (SLP 2013) who provided his own experience on business model generation and lean methodology. He also explained how to regularly come back to the business model methodology to support the startup development.
The session concluded with a social event: drinks at the Dicken’s Inn in the beautiful place of St Katherine’s docks.

Healthcare Entrepreneur of the Year 2014, Runner Up – Baljit Singh

By Aashna Chauhan

Baljit Singh, SLP Bangalore fellow and  founder and CEO of mTatva, has been awarded the “Healthcare Entrepreneur of the Year 2014″ Runner up by Doc N Doc & Gammex Saviour Awards 2014 in Delhi.

The awards ceremony, an initiative of healthcare magazine Doc N Doc, saw over 50 awards being bestowed across several categories, covering hospitals, doctors, pharmaceutical companies, researchers, innovators, international personalities, campaigns and social development initiatives. The winners were decided on the basis of the votes cast by Doc N Doc readers who voted robustly and indiscriminatingly, making the competition close in most categories.

mTatva is a startup that digitises prescriptions which allows the doctor to devote an extra two minutes to the patient. Started by IIT Delhi graduate Baljit Singh, mTatva is a healthcare company that combines medical expertise with communications technology to ensure that patients have access to quality medical care at their fingertips. Baljit Singh, founder and CEO of mTatva, worked for eleven years in multiple big companies as well as start-ups in the IT area, technology and management and business roles. Then in January 2013 he quit his job and founded mTatva. The company got formally incorporated in April 2013.

mTatva’s HealthPIE helps hospitals save on costs, acquire patients and increase revenue. HealthPIE is a patient information and empowerment system that sends SMS reminders to patients about taking medicines, going for follow ups and also, decodes handwritten doctors prescriptions to digital copies.Once a patient has consulted a doctor, mTatva’s customised hardware takes 5-10 seconds to take a picture of the prescription. Post this, it is uploaded on the cloud, then it is decoded using HealthPIE. Once decoded, a final check is done manually by mTatva.HealthPIE then provides every patient registered with the system a unique ID and password to access medical records, appointments and other details on the cloud.

mTatva believes in Adherence.Awareness. Access. It serves 328,000+ patients everyday and has touched more than 1,019,000+ lives. This is a startup with a vision and it is sure to grow into something even better.

Sources :

Aashna Chauhan is part of SLP’s talented team of Marketing Interns.

She is pursuing B.Com Honours from Lady Shri Ram College for Women, Delhi University. She is an aspiring entrepreneur and believes that her internship is preparing her well. She is inspired by Warren Buffet and hopes to meet him one day. If she were to describe herself in one word, it would be sincere. Aashna loves travelling to different countries and exploring their diverse yet fascinating cultures.

Xiaomi Shoots Ahead Into the World of Internet TV

By Pragya Yadav

Chinese tech giant,  Xiaomi Technology Co Ltd., announced on Tuesday that it will be spending $1 billion to expand its internet TV content. They’re all set to launch a TV unit that includes their Xiaomi TV as well as a set top box. They have hired Chen Tong, a former executive at the Chinese internet firm Sina Corp. He intends to take over the TV business and make it more diverse and exciting, as reported by their official blog. Chen was quoted at a press conference saying, “We want to repeat the success of Xiaomi’s hardware integration model in the television industry.” Xiaomi is moving into a market that’s estimated to be worth $3 billion where it will be competing with big local companies like the Alibaba Group, Tencent among various others most of who have increased their investments in internet TV. Xiaomi didn’t provide further details, but mentioned that it could invest further in internet TV in the future. Xiaomi is a privately owned Chinese tech company that was started in 2010 and is now the world’s third largest smartphones maker.

Lei Jun, founder of Xiaomi and China’s 23rd richest man according to Forbes, believes that high-technology doesn’t need to cost a fortune. The company is best known for its budget smartphones and tablets which has a multitude of users all over the world. Their rapid market growth and savvy marketing means that it won’t be long before Xiaomi (“little rice” in Mandarin Chinese) starts making a big footprint in the US smartphone market. They are already making a reasonable dent in the sales of Samsung in China.  They have sold 18 million handsets in 2013 in China only. Xiaomi’s smartphones are typically made available in batches of 200,000 to 300,000 on its website only and sell out in a very short period of time sometimes even an hour. They have been accused of limiting supplies to inflate demand but have dismissed all such claims insisting it gauges consumer reaction before rolling out handsets in order to maintain their low prices. They have brought together extremely talented people from the most established companies from all over the world like Google, Microsoft, Yahoo among many others. These individuals have been handpicked by Lei Jen who aspires to take on Apple. They are moving towards establishing themselves further and diversifying with the mantra: “Always believe that something wonderful is about to happen”.


Pragya Yadav is part of our talented team of Marketing Interns.

She is a second year student of Lady Shri Ram College for Women, University of Delhi, is currently pursuing Economics. She has an enthusiastic and a passionate footballer and has represented her school, state and college at various tournaments from the past 5 years. In spite of being a resident of Delhi she loves to explore the city through the lens of a traveler. She’s a project executive at Enactus in her college. Enactus is a worldwide community of students and business leaders who enable progress for themselves and the community through entrepreneurial- based projects that empower people to transform opportunities into real sustainable models. On weekends, she volunteers with Becoming I, where she’s a project coordinator and she teaches underprivileged kids sports.

Merxius, a technology innovation company, wins Aegis Graham Bell Award, 2014, for Innovation in Augmented Reality

By: Trisha Pande

Our very own dynamic SLP fellow and Co-Program leader from the Hyderabad chapter, Vaishali Neotia, has made the entire SLP community proud. Her startup, Merxius, has just won the prestigious Aegis Graham Bell Award 2014 in the category ‘Innovation in Augmented Reality’!

The Aegis Graham Bell Award is a prestigious award conferred to innovation in the fields of Telecom, Internet, Media and Edutainment. It is awarded by the Aegis School of Business with support of COAI (Cellular Operators Association of India), TCOE (Telecom Centre of Excellence) and Deloitte as knowledge Partners. The award has previously gone to many notable companies like Airtel, Idea, Lava, Spice, Uninor, NIIT and many others.

When asked what it meant to win this award, Vaishali replied “Winning this award is a huge honour and we consider it a big achievement. After two gruelling rounds, the jury chose our product MARMO over other already established and large companies’ innovations. It is almost a case of David vs. Goliath and it is a huge boost of confidence. This will spur us on in creating more innovative products.”

Vaishali Neotia, the Young and Inspiring Entrepreneur:

In 2010, Vaishali graduated from the Osmania University with a Bachelor’s degree in Electrical and Electronics engineering, proceeded to attend the Indian School of Business in 2013 for the 10,000 women entrepreneurs program and then, the Ignite program by the Stanford University Graduate School of Business in 2014. She currently dexterously manages Merxius by overlooking business development, operations, client relationship management and even HR responsibilities.

On being asked to give advice to budding young woman engineers and entrepreneurs (or they could do both as exemplified by Vaishali), she said that “ it is important to realise there is more to life than following a fixed tried and tested path. Graduate, get a job, get married – this is great but you can do more. If you want to travel, do an offbeat internship or be an entrepreneur – just do it. Someone clever once said – people judge you by the extent of their potential. If someone says its impossible, it is for them, not you.”

On marriage and entrepreneurship she says “For a lot of women, marriage is something to be viewed as a be all and end all. If you make your 20s a race against time, trying to fit in a job and travelling and whatever else you can before you get married, then you lose out on entrepreneurship. It requires patience and struggle and most importantly TIME, which women find they don’t seem to have. Let marriage be a part of life that happens along with everything else, and not a goal. This will help open up so many opportunities and avenues. For this social mindset to change, the change begins with you.”

Vaishali firmly believes that women can do it all, and this is an impressive ideology to look up to.

Meet Merxius, the Revolutionary in Augmented Reality:
logo.pngMerxius (mer-she-us) is a technology innovation company based out of Hyderabad. They create innovative products using Augmented Reality, Virtual Reality, Interactive & Web technologies. They create products suited for defence, healthcare and marketing sectors.

Merxius has been innovating since 2011. They had humble beginnings as a web app development company building viral apps on Facebook. In 2012, they started work on Augmented Reality and soon won the Best Startup Award at eINDIA 2012. Since then, they have gone strength to strength adding Interactive technology and Virtual Reality to their repertoire in 2013 and 2014 respectively. The Hindu also had an article about them which you can read right here, as well as an extensive article by TechAloo.

Their latest AR product – MARMO – has been awarded for Innovation in Augmented Reality at the Aegis Graham Bell Awards. MARMO is an industrial Augmented Reality framework that aids in machine maintenance and operation. It runs on various devices including tablets and the Google Glass and other head mounted displays.

Merxius believes in the vision of India as a technology and innovation powerhouse. They want to take the ‘make in india’ concept to a whole new level.

Do visit their website to know more and encourage this exciting young company by liking their Facebook page.

Trisha is part of SLP’s talented team of Marketing Interns. 

She is a first year Sociology student at Lady Shri Ram College for Women by day and a dreamer by night. She takes an active interest in participating in activities pertaining to writing and researching. Books constitute a very integral part of her life, and she prefers reading about diverse subjects. Currently, she enjoys reading about the condition of women in the Middle Eastern countries because the vast difference in global cultures enthrals her. She is a correspondent for her college magazine and occasionally does content writing for different societies like NSS. Animals spark her interest, and she volunteers at the Friendicoes shelter. She enjoys interacting with her fellow interns and spitballing ideas.