Estacha Innovation Incubator

We Invest in the Companies of Tomorrow

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Best Business Lessons to be Learnt From Mr Ratan Tata

Ratan Naval Tata is an Indian industrialist, philanthropist, and former chairman of Tata Sons, born on 28th  December 1937. He was also chairman of Tata Group, & is well known for his business ethics and philanthropy. He is the great-grandson of Jamsetji Tata, the founder of Tata Group.

In 2008 and 2000, Padam Vibhushan and Padam Bhushan were awarded to him for his contributions to trade and industry, respectively. Known for his vision and ability to lead and innovate, he led the predominantly India-based Tata Group’s global foray. The 78-year-old started his career with the Tata Group in 1961, leading the company from a market cap of $1.5 billion to a market cap of $100 billion. For leaders all over the world, the legendary scion has been an inspiration.

Become a Visionary & Work Till You Realize It

Tata Group was barely doing any business outside India when Ratan Tata joined the Group. While he was opposed by many, he insisted that the firm had to go global. Half of Tata’s profits today come from overseas. Tata acquired brands such as Tetley, Jaguar Land Rover, and Taj Boston under his leadership. This shows that you should always stick to a vision and should keep working till you achieve it. Read more

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How Start up Companies Can Benefit from Business Incubators

During their start-up time, when they are most vulnerable, business incubator cultivate entrepreneurial companies by providing them with guidance and help. To meet the needs of new projects, they provide a variety of business development services. The reason for setting up incubators lies in their ability to increase new ventures’ initiation, survival, and development. Estacha Innovation Incubator is the best business incubator

Estacha Innovation Incubator is the best business incubator in Odisha, it is located in Bhubaneswar the capital city. It has great expertise and experience in the field, and has taken many companies from start-up level to established, successful companies. In India, there are very few incubators, the Science and Technology Department estimates that there are about 50 incubators in the nation. Most incubators have been promoted by an educational institute in India.

The following can be listed as benefits of Business Incubators

Offering space on flexible terms

Business incubators, give space to entrepreneurs, on flexible terms. Short-term leases are given and at a very brief notice, the new venture will vacate premises. Also, the security deposit paid by the entrepreneur is much less than the standards established by the developers of commercial real estate. Read more

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Cyberattacks on Small Businesses Is on Rise: How to Defend Your Business

Small companies, especially with many workers now working from home, are a prime target for hackers. Small business owners, largely because of their lack of cyber security, are still a target for hackers. Phishing, brute-force attacks and ransomware are just some of the risks that small business owners face from cyber security. In remote working environments, small business owners are forced to adopt strategies to protect their networks.

For hackers who can be a simpler target than remote employees? Small companies remain a prime target for cybersecurity attacks because working at home is the new standard amid the COVID-19 pandemic.

This makes sense, because, many small businesses do not have a lot of money to spend on protecting their networks, nor are they prepared to switch too abruptly to a remote working area.

Small business owners need to protect their networks, make sure they are safe while using third-party apps, and avoid the wrong thing from being clicked by their remote employees. A herculean task, but an important one, is defence. It can be expensive and time-consuming to recover from a cyberattack. Several tiny businesses do not thrive. The first line of defence is to remain one step ahead of hackers. That comes from knowing the risks of cybersecurity. Below listed are types of cybersecurity attacks.

Phishing emails, texts & Malware

In the business world, phishing e-mails, in which hackers attempt to trick users into clicking on links, have long been a concern. During the pandemic, it has gotten even worse, as the bad guys peddle, bogus COVID-19 remedies, examinations, and access to vaccines. It was getting so bad that, at the end of December, the U.S. The Health and Human Services Department warned the public about pandemic-related fraud schemes. Read more

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5 Principles Entrepreneurs Need to Follow for Success

This idea translates into waiting for the right chance and taking the moment when the opportunity comes at the same time. The goal here is to ensure that entrepreneurs have the appropriate foundation in place to capitalise on the opportunity and must also have an idea and a business plan that will generate opportunities if they find it difficult to get the venture going. This means that entrepreneurs must both produce and seize opportunities as they occur. Entrepreneurs need to obey some universal concepts that serve as guides and beacons for their success. These five principles will serve as markers for both aspiring as well as existing entrepreneurs.

1. Money Making Should not be the only goal

It is important to commit to the ideal of entrepreneurship and to explore new business models and new ways and paradigms of business transactions. In other words, entrepreneurs shouldn’t be in a rush to make money from the word go and realise what business is all about instead. For example, instead of chasing dead-end leads, it is easier to come up with a game-changing concept, which means that entrepreneurs must be willing to be in the game for a long time.

2. Find the right opportunity

This idea translates into waiting for the right chance and taking the moment when the opportunity comes at the same time. The goal here is to ensure that entrepreneurs have the appropriate foundation in place to capitalise on the opportunity and must also have an idea and a business plan that will generate opportunities if they find it difficult to get the venture going. This means that entrepreneurs must both produce and seize opportunities as they occur.

3. Actions speak louder than words

Any conversation and no execution will lead the new venture nowhere, and it is, therefore, necessary for entrepreneurs to ensure that they obey the conversation and deliver on their promises. Having a game-changing concept and a fantastic team in place is not enough unless the entrepreneur learns the art of execution. The entrepreneur must be a leader who knows the essence of execution and walks the speak. If you think you have a brilliant idea and are implementing it well with the right team, even though common wisdom suggests you are doing it wrong, you need to persist and keep going. Read more

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Important Aspects of Startup Business Plan

An entrepreneur who is looking for funds to help launch a new undertaking needs a business plan. It is all about what you are going to do in business and how you are going to do it, simply stated it is drafting your business strategy. 

Business plans are drafted by entrepreneurs who are seeking investment from investors. Many, many great enterprises had their roots on paper, in the form of a strategy that was used to persuade investors to bring in the money they needed to get them moving.

A business plan conveys your business goals, the tactics you will use to accomplish them, future challenges your business will face and solutions to overcome them.It will also reflect your company’s organizational structure (including titles and responsibilities), and ultimately, the amount of money needed to fund your venture and keep it running until it breaks even. Learn more

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Incentives for Startups from Government of India

Startups in India are becoming very popular. The government has initiated and extended support to Startup India. Many advantages are given to entrepreneurs who set up start-ups to foster growth and support the Indian economy. Let us look at those benefits.

1.     Reduction of Cost:

The government offers lists of patent and trademark facilitators. Including a quick review of patents at lower fees, they can provide high-quality intellectual property rights services. All facilitator fees will be charged by the government and the start-up will only pay the statutory fees. They will experience an 80% reduction in patent filing costs. Know more