Digital Insight

Published on April 24th, 2013 | by Saurabh Pandey

How a Start-up is Boosting the Indian Economy in a Small Way!

About 4 million young people graduate every year in India .(This includes engineering graduates), which makes us a nation with one of the largest pool of talented and skilled population in the world.

However almost 75% of this population is underemployed and unemployed

If we take last 5 years data- we can fathom that at least 15m youths are underemployed or not employed due to various reasons

Most of these underemployed or unemployed graduates are female homemakers- ladies who married and never worked or stopped working after marriage.

Also, appreciate the fact that a large chunk of our underemployed population is underemployed because of a lack of right fitment.

Now, all these graduates have a right to monetize their talent or monetize what they love to do.

We all can look back in our homes and in our neighborhoods and can find many acquaintances who can teach maths well, or who can make chocolates, or who have a great voice, or are good mimicry artists, or can paint well….the list is endless.

The fact is that these people are:

1. Not professionals in what they like to do

2. Suffer from lack of confidence in monetizing their abilities, talents or skills

3. Don’t know where can they monetize their talent

There is clearly a need of a platform which can allow people to offer any talent in the form of a job quickly, and allow it to get sold across India without face-to-face meeting and automatic transfer of money.

We know that such an initiative we can make the quality of life of a woman and her household better. We can make a difference in the perception of independence that she has, and overall make a happy, independent woman population.

Also, globally people are realizing 2 things:
1. People are now comfortable asking for help because they know that they cannot do everything themselves. They are willing to pay for the help . So working couples are willing to pay for a nanny, Moms are willing to pay for assistance in completing a school project which they alone cannot help complete, Young women are open to beauty tips and people are open to sharing accommodation while traveling if that saves money.

2. People are increasingly leveraging their talent , time and resources to earn more or to become more independent. For e.g. people are willing to rent out their personal cars when they are not using it, they are willing to spare one room to vacationers, or give one hour of their time everyday monetizing their talent or hobby. For e.g. a language student may want to help someone looking for short term translation work in return for small compensation.

Internet and technology coupled with the changing mindset of people has given rise to something called a -‘Shared Economy’, where people use their spare resources to become more efficient or earn more.

With these thoughts in mind we started focused on India and to be used by at least 15 million youths of country immediately who would want to monetize what they love to do. There are many million Indians who would like to purchase these services and be more efficient as well. I think it’s apt to dream that our small start-up can boost the Indian economy , today in a small way, tomorrow in a big way.

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