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Sucess story of young tech entrepreneurs

by Chetna Vasishth

This article is a transcript of a videoChetChat sharing an Entrepreneur Success Story with Raghav Aggarwal and Abhinav Aggarwal of TruTech Webs talking about how they started off, the challenges they faced, dropping out of B-School, the pros and cons of India as an environment, their hiring strategy, some of their exciting projects, advice for students wanting to become entrepreneurs. In this Entrepreneur documentary you will find an example of youth entrepreneurship with successful business ideas, two young successful business entrepreneurs, who are now famous entrepreneurs, having won several awards including the Forbes 30 under 30. They are top entrepreneurs and college dropouts who share some secrets about their success story at their startup

1. How they started out

  1. They were always interested in technology and had witnessed the dot com boom and bust in their school years
  2. They started with exam papers online which gave them entrepreneur motivation
  3. Later they moved to TruTech Webs with solutions for schools and Fluid Motion with Gesture technology and Artificial Intelligence
  4. They kept doing research on new technologies

2. Drop Out

  1. Raghav Aggarwal dropped out of IIM Ahmedabad and Abhinav Aggawal did not take up his ISB Hyderabad admission
  2. They felt that the ‘hard-knock’ school of life teaches you more than a formal education

3. Their Projects

  1. They are creating experiences for Banks where the screen greets the customer and can be proactive in suggesting products.
  2. Bank of the future or Branch of the Future
  3. The decision making of the AI is driven by the back end
  4. The retail landscape is changing
  5. Organisations are being more data smart now

4. Challenges of a Start-up

  1. People were not aware of the concept initially
  2. Now conversations around AI have become more meaningful
  3. Credibility of the promoters is a key factor
  4. They were trying to work a model where they could earn revenue and also build credibility

5. Advice to Entrepreneurs

  1. Follow your passion
  2. Failing fast – moving quickly – not aiming for too much perfection on the first attempt
  3. Start Young
  4. Contingency plans
  5. Being adaptable – be ready to change your business model within the first few months
  6. Articulation – ability to communicate their ideas

6. India as an environment for a Start-Up

  1. Indian college students have more time and flexibility to work on a start-up while still in college.
  2. The challenge in India is around structure
  3. Customers are still expecting someone older
  4. India is still evolving as a market. The customers are me-too customers, not many of them are ready to take pioneering decisions
  5. Indian customers are price conscious and experimental

7. Hiring Strategy

  1. They look for passion in the people they recruit
  2. High scores indicate hard work and intelligence
  3. Your projects and how you took them to completion indicate passion
  4. Freshers are also hired
  5. Some rounds are technical
  6. They have several rounds – have a Rubik’s cube round where they are seeing how quickly they learn
  7. Aptitude tests
  8. They look for strong core concepts or thought process of programming rather than knowledge of the language
  9. A Bot takes one round
  10. The final round is a personal interview with one of the founders

Mathematical skills and programming concept oriented assessment

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