- Akshay Dekate | 2014 | E&TC
- Shailesh Srivastava | 2013 | CS
Company Name: KontextData Technologies Pvt. Ltd.
Product Name: Kontext
Year Founded: December 2015
Briefly about the startup:
Kontext is an IoT platform and we make mobile engagement easy with or without apps. We enable very small interactions with things that you never consider using an app for. A dog collar can let you find its owner, a bus stop could tell you when the next bus is coming, renting a bike or getting a mall map. Using our solution your smart devices understands its proximity to nearby locations and identify objects. Our vision is to build real-world operating system, making the world around us a richer and more informative place by simply putting information - ‘ where you need it, when you need it’ .
Industry: IoT and Mobile advertising
It started with a personal experience. Continuous research helped us to learn that not only does our smartphone lacks real world context and micro-location awareness , but it also lacks of contextual triggers in physical world i.e. Interaction on demand and a medium to interact with small little things around us and makes us depend on apps for each and every interaction in physical world irrespective of whether it is small or big. Also, we found that business owners lack quantitative location data and the way to engage with their customers in real time.
Selection Criteria for Business domain:
As mentioned, lack of contextual triggers in physical world i.e. Interaction on demand and a medium to interact with small little things around us and makes us depend on apps for each and every interaction in physical world irrespective of whether it is small or big. Coming to selecting Ad network industry, currently all the Ad networks like Google, Xaxis, InMobi, Tyroo are online-to-online Ad serving wherein the advertiser as well as publishers are online. Now, according to studies the click through ration in online Ads is less that 15%. So, there is gap present in this domain wherein more robust and better predictive analysis is required to serve Ads which can be done by collecting data from offline physical world and using them online for pre-targeting and re-targeting the users. Hence, we selected this domain for our tech.
Success factor associated with venture:
We are a 5 month start up right now. Having said that following are our success until now:
- Selected as top 5 early stage startups by ISB, Hyderabad at ISB Digital Summit, 2016
- Part of AIM SmartCity Accelerator, a Microsoft Ventures Partner backed by ISB, Hyderabad, Bharat Dalmia group and Holostik. Selected among 7 start-ups from over 800 startups. (http://aimsmartcity.com/)
Any special training , platforms , circles helped you to begin your journey. Please mention special names in today's context which will be useful for Alma Mater.
We would say, staying updated and connected with the eco-system is the key as well as motivating factor for anyone to begin his/her entrepreneurial journey. Websites like Hacker News, Product Hunt, TechCrunch, YourStory, Kickstarter, Indiegogo are awesome way to stay connected with what is happening in the eco-system. Also, there are various groups like TiE, Pune meetups, India Angel network etc which gives you that extra push and courage to go extra mile and start your journey. We would say there are still lot of problems out there which are ignored and taken for granted for which if one curate a proper solution it can turn in a billion dollar idea. Simple examples for such are Uber, Ola and Airbnb.
Role of A I T in cultivating the seed of Entrepreneurial spirit :
AIT is a great place to be, especially if you are looking for doing something different apart from your regular college studies. The biggest reason for it is the kind of environment it provides you from day 1. Other things which college helped us are to build good communications skills and self confidence which are must if you want to be a founder at any point of your life. Other are gaining sense of responsibility with what we are doing in our lives, helping its student in developing good managerial skills and awesome network with the esteem alumni network AIT posses.