In recent years, the emergence of start-up enterprises has changed the lives of millions all over the world. India has evolved as a major start-up hub, ranking among the top 5 countries with the largest start-up ecosystems. Being a labor-intensive country with a major proportion of the population in the younger age group, India has witnessed unprecedented rise in fresh, innovative business ventures led by a pool of talented individuals.
However, not all startups are success stories. Some end before they begin while others lose their way in the middle and eventually perish. In India there aren’t many platforms which can provide proper guidance on how exactly to go ahead. Founded on 12th December 2017 and registered on 25th January 2021, Geeky Bucks is a flourishing startup jointly established by three 26-year-olds – Pooja Pal, Avinash Kumar Sharma and Vishal Kumar Verma. It strives to bring about a change in the erratic startup culture in India, creating transparency between founders and investors. The goal is to develop an application that’ll use mathematical calculation to give rating to startups so investors can decide where to invest or the founders of a new startup would get data to improve their startup.
Beginning of an incredible journey
The road to our dreams is long, challenging and unexpected. Prior to the collaboration for Geeky Bucks, the founders Pooja, Avinash and Vishal used to work in the same organization. Having witnessed many failed startups, they believed “We failed due to society’s culture and our own lackadaisical attitude. We don’t get the culture here in India the same as in Silicon Valley in New York. Instead of giving our best shot, we do this half-heartedly on a part time basis.”
The trio thought of creating an app that would provide detailed information and broader understanding of startups, forming a common ground for both founders and investors. This would ensure absolute transparency and steady flow of funds for the startup. Since all three of them hail from middle-class families where the start-up concept is still alien to elders, family support was hard to come by. Undeterred, they went through a year of thorough research before embarking on the journey of setting up Geeky Bucks.
Geeky Bucks: Complete metamorphosis of Indian start-ups
Geeky Bucks is a start-up that intends to indirectly help other start-ups by providing them scores and figures that would fetch them investors for funding. The start-ups are scored on the basis of factors such as
- Founder: Experience and Qualifications
- Difference between current or year of starting
- Growth pattern
- Input Pattern
Here, the scores reflect the start-up potential, the kind of investment needed and areas of improvement.
A glimpse into the future
The journey so far has been nothing short of a rollercoaster ride. When asked about the company’s current growth, the founders said “Exponential growth needs funding and we are looking for funding but we have seen operational exponential growth. Like we were a non-registered group but now we are registered. I would say we haven’t seen exponential growth but growth is very steady and consistent. We are pitching for funding and soon we will launch our app.” While the team is busy working on app development, the target is to reach out to almost 30 million users.
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