Posts archive for June, 2021

INTERNET OF THINGS (IoT), CLOUD STORAGE, CLOUD COMPUTING, ADDICTIVE MANUFACTURING, SMART FACTORY are some of the minute glimpses of the magnanimous world of Industry 4.0 . As Industry 4.0 unfolds, computers are connected and communicate with one another to ultimately make decisions without human involvement. A combination of cyber-physical systems, the Internet of Things, and the Internet of Systems make Industry 4.0 possible and the smart factory a reality.

In the recent past, the venture building and incubation industry witnessed some massive investments in these platforms. Mentioned below are just a few of them:

Flutura– Investment of $10.6 million during 2012- IoT based big data analytics solutions provider

Altizon – Investment of $13.8 million during 2013- Provider of industrial IoT platform for manufacturing applications

Losant– Investment of $15 million during 2015 – Provides a cloud-based platform for IoT application development

The above mentions are just the tipping point of the fundraises these companies and their likes have done.

And let us not forget to give a standing ovation mention to the “swift behemoth” from the industry Microsoft Azure. A platform to build, deploy and manage applications in the cloud, with a client base that includes Adobe, Maersk, HP, Reckitt Benckiser, Mercedes Benz, etc.

Industry 4.0

We are currently witnessing a major shift as we are a part of the Big Bang era of the ongoing Industry 4.0 revolution. It was identified as the most transformative period post the Industrial Revolution that took place during 1760 and 1820 and 1840. The revolution created the transition from hand production methods to machine production. Considered as perhaps the strongest ever as our very idea of being has taken a turn. Is it towards betterment? Let us see!

What is making Industry 4.0 possible?

A whole new technology of connecting and making computers communicate with each other via an involvement. Added with a combination of cyber-physical systems, the Internet of Things (IoT), and Internet of Systems (IoS). Which is the reason behind the smooth success of Industry 4.0 and the advent of Smart Factory.

Benefits of Industry 4.0

Industry 3.0 was a disruptive and massive revolution when computers were launched to uplift the technical advancement in manufacturing and processing. However, Industry 4.0 goes several notches higher. Connecting computers to one another for data analysis and maintenance was one thing. What was just a mere glimpse of this disruptiveness during Industry 3.0, the transformation was more than it was anticipated. Without the involvement of humans, communication is happening between computers for important decision-making processes to pull out data and increase the manufacturing capability and efficiency of the machines.

Industry 4.0 – Bringing revolution via technologies for traditional manufacturing

Smart Factory- Manufacturing and distribution are witnessing a whole new transformation due to the rise of Industry 4.0. Traditional factories with large manufacturing units handled by human involvement and monitoring warehouses have turned into a simple concept of Smart Factories. Embedded software, robotics, AI, IoT, and cloud computing are some of the highlights of Smart Factories that assists in higher productivity along with enhanced quality. In a recent IBM survey, 34% of companies said they are adopting AI technology, up from 14% a year ago. Manufacturing powered by AI can rise up to 30% revenue improvements and a 15% reduction of unused components.

Addictive Manufacturing –It is made possible by the transition from analog to digital processes, another massive technological advancement. It uses data computer-aided-design (CAD) software or 3D object scanner to route hardware to sediment material, layer upon layer, in precise geometric shapes. It further aids material to create an object in a customized manner.

The Cloud – Companies that are heavily into production-related projects share their data more across sites. Some futuristic thinking companies who are following the pace of the revolution, are implementing machine data and analytics to the cloud which is further enabling more statistics-led facilities for manufacturing systems.

Internet of Things – The embedded system of computing is enriching the devices by allowing them to communicate and interact with one another. It further enables response in real and quick time, as it decentralizes analytics and decision-making of the machine. IoT is the key component of Smart Factory. The machines at the factory floor, embedded with high-powered sensitive sensors feature an IP address which allows the machine to connect to one another.

5G + Edge Computing

When the Founder and Chairman of the World Economic Forum, Klaus Schwab, mentioned Industry 4.0 during 2016, little did we know anything about the upcoming wave of 5G networks! The introduction of 5G has drastically brought down the response times to sub-seconds. This revolution has created a J curve like speed to communication to sensors and actuators, and the result is swifter results. Since transmission of data across the network is no longer broadcasted, it becomes simpler to compute the huge statistics from global sources to scale up operations.

Companies with huge manufacturing units are utilizing and adopting these technologies as they are aware of the potential of Industry 4.0. Offering a mild benefit of the doubt as the revolution is still at its evolving stage. We need to wait and watch how this massive shift disrupts human living and thought patterns that exist for ages.

Amongst the many disruptors who are creating a wave in this revolution, who are here to create and leave some worthwhile imprint we introduce to you,

DATOMS 

A unified and highly scalable IoT platform offering seamless integration of devices, protocols, and software. They are solving the IoT implementation challenges for enterprises. That in turn is reducing the dependencies of various departments. Simplifying communication complexities of the process, manufacturing, and discrete industries.

DATOMS adds sense to the data captured using advanced analytics techniques thus reducing dependencies and simplifying complexities.

Their IoT solutions for the manufacturing industries ensure that these facilities find better ways to enhance their productivity and decrease downtime through predictive maintenance. Moreover in the vertical of process manufacturing, they assist to attain excellence across operations by deploying smart devices to compile critical data to transform the data into valuable insights.

Further to this, DATOMS is offering solutions for the environment and asset monitoring- Optimizing solutions for smart cities and heavy industries while providing for integrated compliance monitoring.

Story of DATOMS – Founded by Amiya Kumar Samantaray, Kishan Kumar Patel, Akanksha Priyadarshini, Ashish Sahoo, and Nataraj Sahoo in 2015, the company is going strong with more than 50 + employees. Through their share of ups and downs, they have been able to transform from the humble beginnings of Phoenix Robotix to the impact of DATOMS in the last 4.5 years.  Their client base is something that very few entrants in the market can dream of. It includes the likes Tata Steel, SAIL, Jindal Steel & Power, JSW, Aditya Birla, ONGC, NALCO, NTPC, and many more.

To know more about their transformation heavy story, do visit: DATOMS

Ecosystem Partners of Datoms– ICLEI, TARU, Honeywell Technologies, Green Enviro, Larsen & Toubro, Quantela, trinity IoT, envea, ACETECH, and ADAGE

Supported by – Startup Odisha, Intel, Department of Science & Technology, IIM Ahmedabad, Startup India, FTBI, National Institute of Technology- Rourkela, and STPI.

A lot has changed in marketing since the conception of the Internet. Today, people are relying on the internet to promote their brand or business. In a world where people have access to information with just a click, it has become hard to capture a customer’s attention. So how do you get people’s attention anymore? This is where attention marketing gets into the picture. So what’s attention marketing all about? Attention marketing is a marketing concept that is all about capturing and engaging an audience’s attention, which is limited.

Do you know what the most valuable commodity is today?

No, it is not crypto, not gold either, not data or anything tangible. The most valuable commodity today is ‘ATTENTION’!

Attention Marketing

Yes, you read that right!

As a matter of fact, we all realize now that the cost of acquiring consumer attention has increased dramatically (seven- to nine-fold) in the past two decades.

It might not be surprising to hear that our collective attention span has been narrowing tremendously. Therefore, ‘attention marketing‘ is perhaps the most important aspect of marketing today!

Have you looked at it this way and does your team have an attention marketing strategy?

With the bulk of marketing, lead generation, and communication happening digitally and via social channels, consumers are now being bombarded with multiple information at the same time from thousands of brands. Some of which they have probably opted for, some of which has been targeted at them specifically and maybe some that are following them back by re-targeting them.

Unfortunately, it has become much more important and challenging to grab a customer’s attention today.

It all started with great content and writing and moved to fantastic artwork and creatives. Then to engaging in storytelling with the right medium – videos, animation, and GIFs. And now even to memes, that too with events that are being deliberately created in order to gain virality.

Similarly, the whole concept of ‘influencer marketing‘ stems from this idea of getting the customer to stop and pay attention to the people he or she follows, looks up to, or listens to for advice. The reason this works is simple – it gets ATTENTION!

Well, this is just the beginning. This space will undergo much more development and ideation. And I believe, soon the most important person in the room will be the ‘Chief Attention Officer’!

 Some basic and broad tips to keep in mind when you apply Attention Marketing for your brand: 

1) Clarity and simplicity supersede everything. You barely get any initial attention time and that is the sweet spot to the customer stop.

2) You should avoid 0vertly prominent branding.

3) Try to create a positive emotional feeling like joy immediately.

4) Build an emotional roller coaster if storytelling is what you are using

5) Surprise your customers, but don’t shock them

6) Target audiences that will share your message

7) Be unique. Try not to copy.

Tell us what you think in the comment section below, we should add to this list and what strategies you are using towards gaining Attention!

Article by:

Suraj JunejaCo-Founder & Chief Ideator - FreeFlow

According to most people, starting a startup is easy but sustaining it is difficult. This is true when it comes to entrepreneurs who are very less aware of the legal side of it. They fear the regulations and compliances as they do not know what steps to follow. And aren’t aware of the consequences of non-compliance. As per Neeyamo, the average cost that organizations experience for non-compliance problems is $14.82 million, 45% increase since 2011. Let’s dive into the risks that follow with non-compliance.

Often, the criticism falls on the government. The reason being, the government compliances are way too many and way too complex in the Indian ecosystem. Startups become one of the biggest defaulters of these compliances.

Startups get stuck in the conundrum where they have to comply with the compliances. Since there is no one to guide them, so professionals charge a decent fee as the founders need to focus on the business.

Few general non-compliance:

1. Incorrect/NO Tax Deducted at Source (TDS) deposit
2. NO,/Delayed GST Compliances
3. Books of Accounts are not maintained
4. Documentary proof of transaction is not available

These things seem to be small. However, the immediate answer that comes to our mind is, the startups can pay the fine/late fees and interests etc. and it is okay even if they delay.

Yes, the government might spare them, but the current/future investors do not.

Investors tend to treat these kind of situations as a red flag to the whole system and a lot of Startup Funding fall off in the Due Diligence stage.

Investors do not like utilizing their investment to pay fines or interests. Instead, they want them to utilize it to grow the business. Similarly, non-compliance also becomes a shadow of doubt in the investor’s mind that, maybe, the founders are not serious.

So, what should a startup do to avoid non-compliance?

1. Ask friends for guidance
2. Keeping all bills/invoices or any confidential document with them. Even if disorganized, they should have a habit of preserving them.
3. You can hire A freelance accountant or outsource their compliance to startup-friendly professionals. (Professionals often provide such start-up packages)
4. Keeping themselves educated with the basics of compliances.
5. Always do all the transactions from the bank account. Avoid cash transactions at all times.

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