Sunday, March 3

Youngest entrepreneurs of India

Inspiring Schoolpreneurs

Youngsters are increasingly realizing that entrepreneurship is an important tool for country’s economic and industrial development. Though not in a fast pace, but entrepreneurship is certainly spreading its wings incrementally. Entrepreneurship didn’t exists few years ago, but at this point of time, school students know about it and are willing to experiment with their ideas.

Name: Arjun Santhosh Kumar

Age: 15 years

Class: 10th grade

Designation: Founder & CEO, LateraLogics

Arjun Santhosh Kumar, a 10th-grade student of Velammal Vidhyshram in Chennai, is the Founder & CEO of his company LateraLogics, a technology company which focuses on custom apps development, web development and consulting. Fascinated with science and technology, Kumar developed two award-winning apps, namely Ez School Bus Locator and iSafeGuard, at a tender age of 13.

Kumar’s inventions helped him win global recognition. He emerged as the winner of the coveted Massachusetts Institute of Technology (MIT)’s App Inventor Contest in December 2013. “My dream is to establish LateraLogics as one of the most innovative and successful companies in the world. I draw inspiration from many great people like Steve Jobs and Pranav Mistry.

The inspiration/idea behind starting LateraLogics was how mobile phone apps are being used nowadays to solve critical issues and the immense possibilities they carry to make life easier.

Ez School Bus Locator is an innovative Android phone app that helps parents view the location (live) of their kid’s school bus on a map and know when the school bus will reach home. On the other hand, iSafeGuard is a women and teen safety mobile app developed keeping in mind the growing instances of eve teasing and crime against young girls and women in today’s world.

At present, Kumar is working on a robotics app and plans to create an intelligent personal assistant application that can help people respond to everyday situations in more engaging ways.

Talking about the revenue model, Kumar shares, “Currently, the mobile apps are freely available, but I am working on a subscription-based (white-labelled) model to sell these apps commercially (in addition to the free version) to schools and organisations. The pricing for the subscription is yet to be decided.”

Name: Shravan and Sanjay Kumaran

Age: 15 and 13 years respectively

Class: 11th and 9th grade

Designation: Co-Founder & President (Shravan) and Co-Founder & CEO (Sanjay), GoDimensions

Another such aspiring young entrepreneurs are Shravan and Sanjay Kumaran. Shravan Kumaran – a 15 year old boy studying in 11th grade and his brother Sanjay Kumaran – a 13 year old boy studying in 9th grade at Vael’s Billabong High International School in Chennai, are the youngest mobile application programmers in India.

The duo has co-founded a company called GoDimensions, a technology company with focus on developing simple solutions for the digital world. Shravan is Co-Founder & President, and Sanjay is Co-Founder & CEO of the company.

They have developed seven mobile applications that are available on Apple’s App Store.  They have also created three apps for Google’s Android Play store. As per Sanjay and Shravan, these applications have got more than 60,000 downloads all together from more than 60 different countries. They draw inspiration from Steve Jobs for his user interface and Bill Gates for his marketing strategy.

“Our interests in computer started at a very early when we started to make presentations at school. The school and teachers encouraged us to do more, sensing our keen interest in computers.  At home, we started learning QBasic, then animation and gradually moved on to programming apps. Our dream to start a company that builds new gen mobile applications led us to develop application for Apple iPhone & Apple iPad,” state Shravan and Sanjay.

Speaking about their vision and goals, the duo state that they want their apps to run on 50 per cent of the smart phones in the world and want to donate 15 per cent of their total profits in charity.

Name: Sreelakshmi Suresh

Age: 17

Class: 12th grade

Designation: Founder & CEO, eDesign Technologies

Entrepreneurship seems to run in the genes of these school students. Sreelakshmi Suresh, the youngest web designer girl and CEO in the world and winner of numerous national and international awards, embarked into entrepreneurship at an age of 10 by establishing her own venture named eDesign Technologies. eDesign is a website designing company offering services like website design, web development, SEO and logo designing.

Suresh has already designed and developed more than 100 websites for various institutions and organisations including Bar Council of Kerala, Angels International, EHP India, Mammas Passion, and others. She is studying in 12th class at Presentation Higher Secondary School, Kozhikode.

“Computer is my best friend from my early childhood. When I heard about a boy who developed a website and my parents told me that I too can do like that, I stepped into the world of web designing. When I was 3 years old, I used to draw pictures using MS Paint program in Computer. I gradually learned typing alphabets and started studying web designing. In 4th class, I was entrusted with the work of developing a website for my school,” says Sreelakshmi.

When asked about the revenue model, she replies, “Charges for designing websites depends upon the time required for completing the work. For a simple website with 4 to 5 pages, including domain reign and hosting, we charge Rs 6000. For other works, charges are calculated on per hour basis. Last year, my target was 50 websites and I achieved the target. This year, it’s doubled and I am confident to achieve my goal.”

Investors’ Perspective

Talking about the schoolpreneurs, investors are of the view that it doesn’t matter whether an entrepreneur is a school student, an experienced or a matured professional, what all matters is the business idea.

“If the idea of any venture is innovative, it will definitely attract investors.Today, lot of students are aggressively choosing entrepreneurship as their career because it has become easier for them to access capital, mentoring and advice which help them learn how to do business,” explains Prajakt Raut, Founder, The Hub for Startups.

The society is now accepting entrepreneurship and pushing their children to choose entrepreneurship as a career. The future is awesomely bright as lot of college students aspire to become entrepreneurs, especially from tier-2 and tier-3 colleges, Raut adds further.

Fact source