IESA and TiE Bangalore Sign MoU to promote IoT Start-ups  

The world has witnessed several revolutions and periods of innovation and rapid growth that have changed the world as we know it. Throughout the 1800’s the world witnessed the industrial revolution, and then in the late 1990’s we witnessed the IT boom.

Now the world is on the brink of another revolution that promises to transform the way we live. The concept behind ‘ Internet of Things ‘ is astounding and scary at the same time. Imagine a world where every device in the world is connected to the internet and can interact with the environment. We may soon complete our millennial transition from “ The Flintstones” era to “ The Jetsons” era, where everything is automated and a house can take care of itself. 

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With the aim of aiming of making the experience of Digital India come alive, IESA (India Electronics & Semiconductor Association), the trade body representing the Indian ESDM, Electronic System Design and Manufacturing industry has signed a Memorandum of Understanding with The Indus Entrepreneurs (TiE), Bangalore chapter to promote  start-ups and entrepreneurs in fabless semiconductor and electronic products with initial focus on  the IoT  space.

The partnership will address challenges faced by entrepreneurs & businesses developing fabless semiconductor and electronic products

The Indus Entrepreneurs(TiE) is a not for profit network of entrepreneurs that was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 11,000 members in 60 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, their focus is on generating and nurturing our next generation of entrepreneurs.

TiE Bangalore Chapter was established in February 2000 to encourage and grow entrepreneurship in Karnataka. TiE Bangalore has over 125 Charter Members who are all accomplished and successful entrepreneurs and leaders and over 800 members who are either entrepreneurs or aspiring entrepreneurs. It conducts over 100 events, 25 workshops and 12 mentoring clinics in a year. It provides mentoring, education, access to funding, access to accelerators via networking opportunities and regular meet ups. Over 1000 entrepreneurs have been mentored and assisted by TiE Bangalore since its inception.

ESA is the premier trade body representing the Indian Electronic System Design and Manufacturing ESDM industry and has represented it since 2005. It has over 230 members – both domestic and multinational enterprises. IESA is committed towards building global awareness for the Indian ESDM industry and supporting its growth through focused initiatives in developing the ecosystem. This is through publishing credible data, networking events and alliances with other international associations. IESA works closely with the Government as a knowledge partner on the sector, both at the centre and at the state level.

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According to Machina Research data cited at a TiE panel, the global market for IoT in 2020 will be worth about $373 billion in revenue, with $194 billion from hardware and $179 billion from software. India will account for $10-12 billion of this total revenue. IESA and TiE will actively promote the ecosystem with an aim to address the major challenges faced in current ecosystem: Design for Manufacturability (DFM), Testing and Interoperability and Standards and enable the success of the start-ups. They are looking to focus on three main verticals, Energy, logistics and public health.

Commenting on this initiative, Mr. Ashok Chandak, Chairman- IESA and Sr. Director NXP Semiconductors said, “IESA is pledged to make India an ESDM powerhouse and we believe that start-up initiative with focus on IoT will be very crucial step in this direction. Internet of Things (IoT) is a revolutionary phenomenon that offers incredible Innovation opportunities for entrepreneurs to connect the world like never before. We look forward to work with TiE to help overcome key challenges faced by the start-up communities and help realize the Make in India dream.”

Commenting on the alliance, Mr. Naganand Doraswamy, President, TiE-Bangalore said, “TiE is sworn to foster innovation through entrepreneurship nationally and globally. IoT has the power to transform entire segments of Industry like public health, precision farming, surveillance and   logistics. Boosting emerging companies in the IoT space will be vital to the economic growth of the nation. We believe IoT is the next big thing and it will be integral part of every sector/mechanism in no time. We are happy to be working with IESA and will chart a roadmap together to make India empowered digitally.”

As a first step towards enabling the start-up ecosystem, the panel discussions themed “Smart Water, Smart power and the Internet: Public utilities for the city of tomorrow” had also been organized for the evening session. The panel discussion had industry thought leaders and experts’ deep dive into the important issues of growing urban world such as traffic, water and energy and discussions on how IoT can help resolve such problems for the city of tomorrow.

Stay tuned for more details and an in depth article about the panel discussion.

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How Katiyabaaz is championing the plight of the ‘Powerless’

As far as vigilante superheroes go, Loha Singh is utterly unique. For starters he is real. He didn’t need to don mask and a cape and play a comic book inspired crusader whose heroics are aided with special effects. Every single day he endangers his life connecting wires with his bare hands so that the underprivileged bastions of Kanpur city can get access to electricity. When filmmakers Fahad Mustafa and Deepti Kakkar approached him to play himself in their documentary, he agreed even though he says, “I thought I will end up in jail for Katiyabbaz.”

Katiyabaaz is a documentary like no other. For one, it has an item number. Indie filmmakers Fahad Mustafa and Deepti Kakkar bootstrapped mightily to bring their vision to life and they are determined that the film will be seen by mainstream Bollywood audiences. The film revolves around the power crisis affecting Indian society- forty crore people live without electricity. But it is also a story with heart and soul. For that reason it is smashing through barriers of genres through Bollywood, entertaining while it educates and gives us a wonderful homegrown Robin Hood to cheer for in Loha Singh.

YourStory speaks to Fahad Mustafa about the challenges of bootstrapping a film, fusing fiction and reality to make a documentary that everyone will watch, why this particular issue is so close to his heart and the amazing reaction Katiyabaaz is getting from audiences all over the world.

What real life event sparked the idea for Katiyabaaz?

I was born in Kanpur but grew up outside the country. During that time the memories of the city stayed with me. If you have been to a small Indian city like Kanpur you see these wires dangerously crisscrossing over your head and you know there is a story going on there. Years later when I came back to India and visited it, I found hardly anything had changed. This was interesting because in between my trips, Delhi had changed drastically. But Kanpur remained in an inexplicable time warp. This was fascinating and initially the film was going to be about Kanpur. Electricity was simply a motif in the story. But during the creative process it took on a life of its own, a narrative device to which you could connect various things, and we decided to go with the flow.

How did you and Deepti Kakkar come to collaborate on this project?

Fahad Mustafa & Deepti Kakkar

Deepti and I have been together for the last ten years. She is from Ghaziabad and so closely identified with the theme of Katiyabaaz as well. We started making films together in Delhi when we were undergraduate students in St. Stephen’s college. Then we moved to Vienna, worked with the UN and were involved with many other things. But we kept making films together and founded a production company called Globalistan Films. So this has always been a joint passion for the both of us.

Loha Singh is such a unique protagonist. Was he an actor to begin with or did you rope him in for this film specifically?

No he is not an actor at all. He is what he does in the movie. He is a Katiyabaaz (In Hindi katiya means a wire. A katiyabaaz is someone who steals electricity through illegal wiring). We found him and he agreed to come in front of the camera and show us what he does and why he does it. He is a very intriguing fellow.

How did you secure funding for the film?

The initial seed money came from an award that we had won. Then we collected funds from nine different countries including Netherlands, Korea, Austria, Sweden and Canada. There were film grants that were available. We got into co-production with a US based company. The budget was around 1.5 crore and we cobbled it together somehow.

What were some of the biggest restraints in terms of budget and resources and how did you overcome them?

The big problem was always the budget. We wanted to make the film in a certain way. We wanted to involve the Indian audience deep within the film- have songs, interesting narrative devices, etc. The production values themselves involve a certain amount of investment.

The problem was that nobody in India wanted to fund a documentary, even when the subject is so critical to today’s society. We started the production and the budget kept growing. We kept chasing the money while we were making the film. There would be situations where we would get twenty thousand dollars from somewhere and realize that now we could rent a train. And then we had to finish shooting that within a week. So yes, the biggest challenge was balancing production with direction.

What all film festivals have you travelled with Katiyabaaz? What has the experience been like?

We started at the Berlin Film Festival in February 2013. Then we went to Tribeca, Rio de Janeiro, Melbourne, Dubai and Copenhagen. In fact, I was invited to be on the jury in Copenhagen. The experience has been phenomenal. We got great responses. The first time we screened, there were eighteen hundred people in the auditorium and they gave us a standing ovation. In Germany we were compared to some of the Oscar winning films of last year. Overall we are thrilled with the reaction we have received from the world over.

How far do you think Katiyabaaz has been successful in raising the critical awareness about the issues that it highlights?

It is heart-warming to see the discussion it is generating not only among the mainstream audiences but also among policy makers. Uttar Pradesh Chief Minister Akhilesh Yadav declared that every power corporation employee must see the film. In Maharashtra the Aurangabad Electricity Association is doing targeted screenings of the film in areas where electricity theft is the highest. There is a joint initiative between the Ford Foundation and the World Bank to do a lot of policy related screening and panel discussions of the movie around the world.

This is such a huge crisis that is affecting the country. Forty crore people are without electricity. What we discovered while making the film is that it is only during elections that people talk about this. Otherwise it is conveniently forgotten. It is about time that we, as a society and a political economy, took a step back and decided how we are going to address this issue. In terms of getting the conversation started and the dialogue going, Katiyabaaz has made a big difference.

How did you draw a line between fiction and reality while making the movie?

There is a very clear line between the two in the film. What is more relevant in terms of the narrative is truth and reality. The whole thing is real and presented as it happens. We have used fictional devices to enhance the emotive connect. Both fiction and documentary forms borrow from each other a lot, especially in recent times. We don’t see a big difference between the two forms. At the end of the day, it is what the best way to tell a story is.

Do you see the success of Katiyabaaz paving the way for more ventures like this where responsible film making and entertainment go hand in hand?

Absolutely. We hope that the theatrical release of Katitabaaz creates a market for films like this and not just lose out to content because certain films are marketed at certain audiences for only “entertainment”. We don’t even know what that means.

How did Vikram Aditya Motwane and Anurag Kashyap come on board?

We were screening for the industry in Mumbai and Vikram saw the film. He immediately jumped on board. It was amazing how someone like him committed to our film so quickly. Then we showed the film to Anurag. His father was with an electricity company at some point, so this was quite personal for him too.

So where does katiyabaaz Loha Singh go from here? Is he planning to branch out into acting with his new-found fame?

The sad reality of Loha Singh’s life is that not much is going to change. He is a product of a certain set of circumstances and unless those change for him, and millions of other people in Kanpur, he is going to go through life with a lot of frustration. We reach out to him whenever we can, but we cannot take responsibility of another person’s life. He was a celebrity to begin with in Kanpur, thanks to his electrical wizardry. Hopefully he can get out of that state in life someday.

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How Xiaomi prices its high-end phones at low prices: a short lesson in the Economics of Pricing

On June 6, 2010,  eight partners came together to co-found a software startup that would create a new custom ROM based on Android. The startup wanted to create an easy-to-use interface that could provide added functionality to Android. The strong team was led by a CEO who had had successful exits in the past. Lei Jun who founded Joyo.com in 2000, which was later acquired by Amazon in 2004, also held positions at Kingsoft, leading the company to its IPO on the Hong Kong stock exchange.

Jun launched the startup’s firmware, called MIUI, in August, 2010 and soon realized that his company had to build hardware to go with the MIUI experience. The first handset was launched in August next year – the Mi One, a top spec phone with a great price way ahead of its time. Since then a lot many things have changed for Xiaomi. For one, the 4-year-old ‘startup’ has beaten Samsung to become the largest smartphone maker in the largest handset market of the world – China.

In the second quarter of 2014, Xiaomi shipped more than 15 million of its devices, compared to 13.2 million of Samsung. The firm that terms itself a ‘mobile internet company’ rather than a ‘handset manufacturer’, shipped 18.7 million devices in 2013 and is already on its way to an ambitious target of 60 million devices this year. Within four years of its inception, Xiaomi has gone from being a startup to a $10 billion upstart and has every smartphone-maker in its cross-hairs, as it keeps undercutting on price and sells high-end specs at low prices.

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But how does Xiaomi do it? Is it losing money on every device it sells? Or does it have an innovative strategy of its own?

The pricing conundrum and a wee bit of Economics

Pricing is probably one of the most difficult parameters to optimize, for any company. It’d seem simple enough – just sell the product for more than what it costs. But price is determined by several other factors like branding, positioning, marketing, and many times more important than most – psychology.

For example, if you want to price your products at a premium, the product needs to have a unique positioning, in terms of USP of the product or a never-before-seen innovation. You can then employ the WTMWB pricing strategy – What The Market Will Bear, and try to sell at premium prices as fast as possible before the competition get s on to your USP and tries to undercut you. This strategy works best with ‘Early Adopters’ as these are the set of people who are not very price-sensitive and look to get their hands on new, innovative technologies.

The GPMT strategy in pricing

GPMT or Gross Profit Margin Target is what the companies usually look at when trying to set prices. In simple terms, it is the gross profit margin that they need to pay back their expenses and generate positive net income and cash flow.

Mathematically, GPMT = (Price of the product – Cost of the goods and services being sold) / Price of the product

In a typical, manufacturer-distributor-retailer model, the manufacturer aims for a GPMT of 50%, that is it wants to sell the product at twice the cost price. The latter two look at a GPM of 10-15% and 30-50% respectively.

By now it should be easy to understand that when you are buying a product, you are paying not just for the cost of the material, manpower etc involved in it, but also the profit margin (quite obvious) and the costs incurred in marketing, brand positioning and advertising.

A typical smartphone maker puts its products on shelves of thousands of its retail stores across geographies which incur staff, real-estate and maintenance costs. This of course on top of the extravagant spending that goes into grabbing the eyeballs of customers, advertisements – print, digital, banners, hoardings, TV ads etc.

Now imagine a manufacturer that takes out several parts from the above equation. It doesn’t believe in traditional advertising, shuns the concept of retail stores and chains and decided to do all its selling online. Don’t you see how that would lead to a significant amount of reduction in the ‘Cost price’? Well, among several other things, this is exactly what Xiaomi does.

The Pricing strategy employed by Xiaomi

To start off with Xiaomi sells its products online only, through ecommerce. This ensures that it doesn’t have to worry about the costs of warehousing and distribution.

“We are an e-commerce company. We live on the internet. We are selling exclusively through e-commerce. And the price there can be much lower, because the price on e-commerce is essentially fulfillment and shipping cost,” explains Hugo Barra, VP Global, Xiaomi while exclusively speaking with YourStory.

Xiaomi also shuns traditional models of advertising and depends solely on Social Media marketing and word-of-mouth.

“We don’t invest in traditional marketing. We live on the social media which is a lot less expensive to us,” adds Barra.

Apart from this, Xiaomi cuts cost at every stage. It sources components itself and deals with these sellers with a different strategy. Xiaomi also bets on ‘Moore’s Law’. Unlike other bigger players who discontinue their models after 6-8 months in the market, Xiaomi sells it products for upto 18-20 months after launch. This means that, in accordance with Moore, the price of the individual components have gone down while the price of the phone remains constant throughout.

But the most important thing to note is that Xiaomi is a ‘mobile internet company’. It is looking to make money, not on its hardware, but by selling apps, games and special Android themes and Internet services on top of its custom MIUI – a pricing strategy very well-adopted by the e-commerce behemoth Amazon.

In the past too, many Chinese handset players have entered the market with low-priced phones. But with low prices tagged along the low quality as well, giving the Chinese market a bad name. Xiaomi and Barra set the tone right by bringing high-end quality with affordable prices.

On the Chinese market and being called the ‘Apple of China’

Xiaomi has been time and again called the ‘Apple of China’. The fact that Lei Jun launches the phone in typical Steve Jobs-esque manner and attire doesn’t help refute the cause. But ask anyone from the Xiaomi team on their comparison with Apple and they will start off with their admiration for the Cupertino-based phone maker.

“Apple is one of the most extraordinary that the world has ever seen, and will continue to be for a long time. On that account one would say that being compared to Apple is a great thing,” Barra starts off.

Barra goes on to differentiate Xiaomi, though.

The reality is that we are a lot more and a different kind of company. You could say that Xiaomi is like bits and pieces of Google, and Apple, and Amazon. We have the Software engineering horsepower of a Google, the design ambitions of an Apple and the e-commerce platform and customer service focus of an Amazon.

Barra believes that the smartphone industry from China has already left a significant legacy over the last couple of years. Talking about products from China, Barra mentions Oppo, OnePlusOne and Huawei who have come out with world-class products.

“Looking at these products no one can say that they are less interesting or less appealing than products coming out of Korea, Japan or the US,” he summarizes.

‘Apple of China’ or not, one thing is for sure that Xiaomi has made significant strides into whichever markets it has entered in a relatively short period of just four years.

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How to interpret what your recruiter means

How to interpret what your recruiter means

It is not just the candidates who are found wanting on the honesty quotient. Often, it is the recruiters too. Their motivations, though, are vastly different. Recruiters, like most of us, dislike having to say ‘No’ or ‘You are rejected’ to eager job seekers. Struggling against tight deadlines, they don’t have the time or the motivation to keep everyone updated. By decoding recruiter speak, you can reduce uncertainty and respond appropriately.

STAGE 1: CONNECTING

“Consider you for future vacancies”

When a recruiter says that there is no suitable vacancy, he means it. He adds your resume to the database and forgets you along with the hundred others who apply. When a vacancy turns up, he finds you in the database and also looks for candidates from other sources.

RESPONSE: Can you help the recruiter by referring suitable candidates for the current assignment? Keep track of news about your target firm and remain connected with the recruiter through professional networking sites to seize opportunities quickly.

“Salary depends on interview and experience”

The recruiter has little say on your salary since he is merely a facilitator. However, salary bands are usually fixed and the recruiter believes that you are in the target range and may accept an offer after negotiation.

RESPONSE: If you have rigid salary expectations, make it clear at the beginning. Better still, avoid salary discussions till you have had a chance to sell yourself to the hiring manager. Meanwhile, conduct thorough research on standard salaries for that position.

“Got your reference from somebody”

Some recruiters may lie if they believe that candidates are more open when told that they have been referred by someone instead of being told that they are found through a job portal, networking site or a company page.

RESPONSE: This does not affect your chances of getting the job. If it is a concern, clean up your online profiles.

“We have a great working culture”

This is standard marketing speak. Neither the recruiter nor you can accurately evaluate this.

RESPONSE: Ignore what the recruiter says. Ask around in the industry to find out whether the attrition rates are lower than industry averages, thus indicating a contented bunch of people at work.

STAGE 2 DELAYING “Interviews are still on”

This is usually true, but can mean different things. Either the firm will wait till all shortlisted people are interviewed, or they are not completely sure about any candidate, including you. They would like to search some more.

RESPONSE: This is an excellent time to share additional relevant information with the recruiter like your latest sales breakthrough or the employee of the quarter award you received. Also, ask if there are any specific concerns regarding you and address them.

“Awaiting a reply from the hirer”

Sometimes another candidate has been selected and they are negotiating to see if he will accept the offer. If their first choice drops out of the race, you may be in the reckoning as their second or third choice.
Keep your job search on while you wait for the cards to play out. If you get an alternate offer, let your recruiter know that you have a deadline and will move on.RESPONSE: Keep your job search on while you wait for the cards to play out. If you get an alternate offer, let your recruiter know that you have a deadline and will move on.

“Position is on hold”

Sometimes employers figure out that there is a budget constraint or that there is no urgency to fill a vacancy. At other times, this simply means that you were not selected for the position and the recruiter is extremely uncomfortable in conveying the bad news to you.

RESPONSE: In either case, you are unlikely to make any headway. Let the recruiter know that you will be interested if it opens up again.

STAGE 3 DISCONNECTING

“You will hear from us”

This is usually followed by a complete silence from the recruiter’s end. This could simply mean that the employer is having trouble deciding on the best candidate. On many occasions, a recruiter turns silent when you are no longer in the reckoning for the role.

RESPONSE: Follow up with a call to the recruiter. Ask if he can share a deadline for the decision to be made. If not, follow up subsequently on e-mail to signal your interest in the role.

“The job description has changed”

For new and untested roles, employers often learn a lot during the interview process and thus make mid-course changes to the job profile. At other times, employers are not happy with the candidates they speak to and tweak the profile to attract a fresh set of applicants.

RESPONSE: You have not been selected for the role that was available when you applied. Indicate your availability in case the role comes up again; continue with your job search.

“We filled it internally”

This may be true or may indicate that someone else was selected. This statement is the nicest way for the recruiter to close communication and avoid unpleasantness.

RESPONSE : Thank the recruiter for the clarity and carry on with your job search.

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Five campus hiring miscommunications

Five campus hiring miscommunications

“Location preferences will be noted”

You will be asked to fill a form with your top three location preferences. However, you will be staffed only where there is a business requirement. Your choice is not the top priority. Ask for a location guarantee if it is critical.

“Your salary will be…”

The salary promised to you is likely to be the cost to company, which will include gratuity and PF, medical insurance, travel reimbursements, performance-linked bonus, even training costs. Ask what your actual monthly cash in hand is likely to be.

“You will get a bonus”

Your bonus could be a sign-on bonus, a retention bonus or even a guaranteed bonus, all of which come with a payback clause in case you decide to quit early. Performance bonus may depend on both your own as well as that of the team or company.

“You have a job offer from us”

But not necessarily a job. Many job offers come with a deadline for acceptance, deadline for joining, and are subject to background verifications coming clear. Miss out on deadlines at your own peril.

“Everyone is hired at the same level”

This is a false impression students carry. Most firms, if asked, are willing to give due credit to work experience, additional qualifications, and also offer special incentives to get the right person. Always explore and negotiate.

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5 risks one must take for a successful career

5 risks one must take for a successful career

Risks are an investable part of a successful career. Unless you take certain risks you cannot be successful. Many successful leaders/entrepreneurs have spoken about why one needs to face their fears and take more chances for a successful career. 

Career decisions are the most crucial decisions of one’s life and most of these decisions involve risk-taking. We tend to view risk-taking negatively but some risks do pay-off in the long run. Asif Upadhye, chief fun officer, Never Grow Up, lists some of them for our readers:

Be the first to step up: Take initiative. Be the one person people can depend on. Make your enthusiasm contagious. Rise to the occasion because luck favors the one who takes the first step into unchartered waters.

Step out of your comfort zone: You pick a job. They pick you. Then, you are given a role that defines you. You toil day and night to become the best in your area. You understand everything about your department but very little about how other supporting departments work. Therein lies your downfall. No one will want to promote a fish in a pond, who does not have an idea of how the ocean operates. Go out there and learn something new.

Unlearn, relearn: It’s fast, efficient and optimal. The patterns are set and why would you want to unsettle things that are running smoothly? Why look at a new perspective? We’d say, why not? What if someone has a better, faster or cheaper way of getting the same job done? This would lead to an improved level of success. Unseen opportunities often come when you take the risk to relearn and unlearn.

Have a voice: Don’t play it safe. If you are in a meeting and your boss asks for an opinion, don’t be afraid about making a mistake or being cross-questioned. A lot of times people shy away from responding wondering how others will react to their ideas. Remember, no successful person achieved greatness by sitting on the bench. What if your boss actually ends up liking the idea?

Fail and be good at it: Accept that by following the above steps you may occasionally fail. Don’t let the fear of people judging you or the act of failure deter you from reaching your true potential. Success won’t fall into your lap, you have to pursue it. We learn from our risks and those lessons take us onto a better, brighter path.

Besides these risks, there are some risk factors also which one must understand for a successful career. These include:

Compensation: While the pay package could be hefty, there are chances the role may not match the job description and there will disappointment later.

Future of the organisation: The candidates need to do a research to gauge the future of the organisation in the related industry. Understanding and studying the balance sheet is the key to reducing the risk.

Boss and colleagues: While this is a proven fact that employers leave bosses and not the organisation, one should take up this risk provided the job is good.

(With inputs from Salil Desai, director-Human Resources, Sofitel Mumbai BKC)

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Multinational Vs Start-up – Which is better?

Multinational Vs Start-up – Which is better?

8 key factors to consider while choosing between a start-up and an MNC…

Gone are the days, when having a job offer from an MNC was the ‘ultimate’ opportunity. In the age of entrepreneurship, start-ups have become the coolest place to work, from top to bottom. The situation gets confusing when one has to evaluate a job option between an MNC and a start-up, as both offer unique advantages. It is rather tough to choose relatively unknown firms over well known MNC brands.

To make the right choice, one should evaluate both options on parameters such as work environment, job security, exposure and job role. Sathyanarayana TK, vice president- human resource, Robert Bosch Engineering and Business Solutions Limited shares 8 key factors to consider while choosing a job between a start-up and an MNC.

1. Greater Exposure and Freedom to Deal with a Dynamic Environment: Start-ups have relatively leaner approach to situations and processes. This has a bearing on SPEED, speed to reach out, speed in decision making and finding solutions. The factor of ‘Freedom @ work’ is also higher, as things are less formal and not very rigid inter-functional boundaries. One handles additional roles and takes on higher responsibilities thereby widening ones experience and exposure. The ability to work in a volatile environment and be networked in frugal structures goes a long way in learning to deal with dynamic situations that generally exist in a start-up.

2. Developing Overview: The advantage of a start-up is that you can see the product, end to end, from the conceptualisation phase to delivery to post delivery. So, the individual gets an opportunity to develop a better perspective and overview.

3. HR Systems: The way start-ups and MNCs manage their human resources are also very different. Attraction and retention policies vary in two areas. While MNCs look at volume hiring, start-ups do specific/niche skill hiring. Selection, integration and development processes also differ accordingly. Opportunities for formal learning and job rotations tend to be higher in an MNC.

4. Mature Processes: MNCs always have the advantage of established brand image, well developed networks across regions, mature policies and processes, stable organisation structures – be it people or business. It is usually uniform and adapted to the specific country where it is located. MNCs also have specific orientation on societal benefits, environmental concerns apart from key financial indicators. All these aspects bring a degree of stability and predictability as compared to a start-up.

5. Facilities: MNCs generally offer better infrastructure like gyms, cafeterias and ample technology resources whereas in a start-up these facilities may be restricted. While start-ups may encourage young professionals to be more creative, the lack of access to technology may be a hurdle.

6. Rewards & Recognition: The employee at a start-up takes up higher risks which are linked to a potential to earn higher rewards via a bonus or a variable pay program. There is an opportunity to achieve higher recognition in a shorter span of time.

7. Honing Skills: Dealing with a larger level of responsibility, quick pace of decision making and the pressure to perform could also lead to a sharpening of skills in a relatively lesser time in start-ups.

8. Sense of Belonging: Along with quicker recognition, the smaller size of a start-up also leads to feeling connected within the organisation and having a sense of belonging.

The good news for us in India is that there are large MNCs that offer excellent careers and there are many start-ups with innovative ideas for products and services along with solid business strategies.

Looking at the large number of opportunities, one should first assess their strengths and interests and review the advantages and disadvantages. This would help them choose the organisation that best fits their personal and professional aspirations.

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