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Four Professional Ways to attract More Investors to back Your Startup Business for Sustainability

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Investment is the considered that backbone for your Startup company . If you have a Startup Idea and You want to  put into practice then the first thing is the financial analysis  and Capital to turn your dream into real  business . Several Entrepreneurs around the world always struggle in attracting more investors  both visible or angel investor to back their Startup Company so that you may not approach the bank for early stimulus  to help support the Startup to pursue the journey of Ups and Dons and finally kissing the Target that is Success .

During , face to face engagement with the Entrepreneurs, we have observed that  Entrepreneurs are self-centred and prefer solo flight regardless of the bumpy road ahead.They do not care about the circumstances popping up all of sudden and making them confused to cope with such situations and look and lean towards banks and the Investor after launch which affects the Small Business Companies very badly and its Silk route towards the Success may be hampered or interrupted in middle by the financial Constraints.

The Following three Professional ways will help you attract more Investors without getting exhausted  .

1.Preparing Professional Business Plan and Clear Idea for Startup 

Many Entrepreneurs approach the investors before the Development of the  Business plan which is right since Investors review the Startup Idea in their own context .They are both curious and Cautious to invest since they are afraid that if they invested in a Startup which may not succeed  then all of their investment goes in waste . It is , therefore ,necessary that  the Entrepreneurs must get the Business Plan Developed  so that they can easily discuss the road map and Budget  of the Startup and Potential to become profitable in long run .

You may conduct research on the Market , Customers and Idea that whether the product or service, you are going to launch ,will get a positive response  . In addition , you may also analyse the Competitors if the project or service is similar to already available . This will help you create the Marketing Brochure that why people avail  your service or buy your product and in what way it is better than already existing services or products in the Market.

2.Engaging your Friends and Relatives for Small Amount for the Idea 

if your Idea is related to an APP or service  then share your Idea with your friends or Related who can support and help in getting the tasks done . It is necessary that you should have clear Plan and having Market value Idea than just Philanthropy measure . Most of your friends may put their money in your  Idea initially and If your Idea worked well , they will maintain their share along with your Own investment . But ,if the Idea fails , your dreams will shattered .

The First and the most important point you should keep in your mind that give a serious thought to your Idea  and consult with the People with insight of running their businesses that whether you Idea is viable or not . Some Startup attract more investors as they grow and establish in the market .

3.Be Credible for  Prospective  Investors and Stead Fast

Being credible is the most important in order to attract more investors since investors do not know the Entrepreneurs personally therefore , they always question the credibility of the Small Business Owners and their Sickness to the Idea and business Plan . If  you present your Idea clearly , giving all details and sureties  for  the safety of investment then you will be  able to attract more investors than Expected .

Present your Idea in Startup event for Prospective Investors in way they may be  thrilled to invest in the Idea if you shared the  Profit targets and working of the Startup . Credibility will help all the Startup owners to attract more investment and it will strengthen the roots of the Startup as they will not need more money in the difficult time or recession .

4.Offer Joint Accounts , Safe Exit ,Profit share  to the Prospective investors

You may offer humbly , the joint Bank Accounts , appointment of a mutually agreed finance and HR Staff so that suspicions may not over shadow  your trust . You should also offer  the investors that they may get their money back if they wanted to quit given the period of investment in which the Company was operation  either in Profit or Loss . The Same will affect the payment .

The financial forecasting, Budget management and Proper accounting Model will greatly impress the prospective investors and they will be ready to put their money in your Idea for long time since they  would be confident they may get their money anytime if the Idea succeeds or fails in long run . They may get the profit share as per their investment percentage. you may offer to have a clean environment by giving them a sense of ownership.

Digital

WHATSAPP Privacy Concerns Affecting Public Data -MOIT&T Pakistan

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Reference to on-going news threads by National Media and social media platforms regarding change in privacy terms & conditions of WhatsApp, Ministry of IT & Telecom is monitoring the current developments and clarifications provided by Facebook Inc. in this regard.

It is brought to notice that subject changes in privacy are applicable on WhatsApp business account only, while regular non-business/ individual profiles/ accounts are not affected.   

MOIT&T would like to emphasize here to all such digital social media platforms including WhatsApp administration to adhere by privacy rights of citizens of Pakistan. In this regard, all such digital platforms need to strengthen their engagements with the Government of Pakistan so that concerns of General Public and businesses can be well addressed by all means.

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SadaPay to launch e-money services in Pakistan after Green Signal from SBP

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SadaPay has announced that it has been granted the in-principle approval by the State Bank of Pakistan (SBP) for an Electronic Money Institution (EMI) license. This approval allows SadaPay to ready its operations for the pilot phase, during which the digital wallet will be available on a limited scale, under supervision of the regulator. 

The startup is founded by American serial entrepreneur Brandon Timinsky, who ventured to Pakistan after his last startup in the US was acquired. Over the last year, Timinsky has assembled a team of banking veterans, liaised with the regulatory authorities, and built the foundation for a “digital first” financial institution in Pakistan. Dr. Waqar Masood Khan, Pakistan’s former Finance Secretary, has joined SadaPay as Chairman of the Board.

Pakistan is now the 5th most populous country in the world, with over 76 million 3G/4G subscribers and nearly 1 million new smartphones users coming online every month. In light of the COVID-19 pandemic, internet adoption is only accelerating and more people turn to digital solutions for everyday payments. This presents a tremendous opportunity for SadaPay not only in Pakistan, but also a number of other regional markets that the team hopes to expand to. 

“Sada” translates to “simple” in both Urdu and Arabic. SadaPay’s mission is to do away with the cost and complexities of traditional banking through their simplified digital-first experience. SadaPay offers a smartphone-based digital wallet accompanied by a free Mastercard debit card.

As soon as a SadaPay account is activated, a virtual debit card is provisioned for immediate use. Also, users can perform free and instant transfers to any bank in Pakistan, and withdraw cash from all of the 14,500+ domestic ATMs with no fees (3x per month). Furthermore, users can also load their account with cash at any of 30,000+ retail locations across the country.  

Speaking about the news on the approval, Brandon stated “It’s really amazing to see how committed the State Bank of Pakistan is to adapting to changes in consumer behavior and advances in technology. In the last few months alone, we’ve witnessed tremendous progress by SBP with the release of a number of new regulations that are certain to make an incredible impact on Pakistan’s economy by catalyzing the digitization of its financial system. We’re also very grateful for the support we’ve received from the Bank of Punjab and Mastercard, which will certainly spur our journey towards rapidly expanding financial inclusion in the country”

BRANDON TIMINSKY, FOUNDER OF SADAPAY

Speaking on the occasion, Dr. Waqar said “The role the Central Bank is playing in laying the foundations of a broad-based and user friendly digital payment system in Pakistan is laudable. These efforts have gained momentum since last July. Pakistan would soon be a leading country in digitizing its payment system and SadaPay would play a prominent role to achieve this goal”.

DR. WAQAR MASOOD KHAN, CHAIRMAN OF SADAPAY

Early access to SadaPay will be available for those who have signed up for the waitlist through the website; www.sadapay.pk. SadaPay also has a very feedback-centric approach to their product development roadmap, and they’re also welcoming suggestions via email, hello@sadapay.pk.

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Covid-19

Techtools : Apple and Google want to turn your phone into a Covid-tracking machine

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Just when you were wondering why the world’s biggest tech companies weren’t doing more to fight the coronavirus pandemic, Apple and Google made a big announcement: They are joining forces to build an opt-in contact-tracing tool using Bluetooth technology that could help public health officials track the spread of Covid-19, the disease caused by the novel coronavirus. The new tool brings with it not only hope for a quicker end to the pandemic, but also a host of privacy and security concerns.

The contact-tracing tool Apple and Google want to create would have your smartphone log when you’ve come into close contact with other people. If one of those people later reports Covid-19 symptoms to a public health authority, your phone would send you an alert. It works a bit like exchanging contact information with everyone you meet, except everything is designed to be anonymous and automatic.

Instead of contact info, your smartphone will periodically exchange anonymized tracing keys with nearby devices. Both devices maintain a list of the keys they’ve collected on a cloud server, and when one person reports an infection, they have the option of sending an alert to people they’ve recently been in contact with. That alert will share information for what those people should do next.

Those are the broad strokes of what’s sure to be a very complex public-health-focused surveillance system. It represents an unprecedented partnership between two competing tech giants, one that could forever change the way our devices talk to each other.

(Apple and Google say that the new contact-tracing tool will work between iPhones and Android phones.) The Bluetooth-based approach also draws on beacon technology that’s already in use in retail environments — and is already a concern for privacy advocates. Understanding the privacy and security implications of this new coronavirus contact-tracing technology will take time, but based on what we know now, the tool will start rolling out soon.

How it’s built

An important thing to understand about this system is that Apple and Google aren’t doing this by themselves. The two companies are building a set of tools, known as an application programming interface (API), that lets iOS and Android apps communicate with each other.

In the first phase of the tool’s release, which will start around mid-May, Google and Apple will release the APIs so that public health authorities can then build apps that will be publicly available in the Apple App Store and Google Play Store. People can choose to download those apps — and again, these apps will let iPhones and Android phones talk to each other.

The tool’s second phase will roll out over the next several months. Apple and Google plan to build contact-tracing functionality into the operating systems of the phones themselves, which might sound a little tricky for folks who worry about being tracked without their consent. As the New York Times points out, by building the tool directly into the operating system, Apple and Google effectively ensure that the contact-tracing system can run 24 hours a day, rather than only when a particular app is open.

“This is a more robust solution than an API and would allow more individuals to participate, if they choose to opt in, as well as enable interaction with a broader ecosystem of apps and government health authorities,” the companies said in a press release. “Privacy, transparency, and consent are of utmost importance in this effort, and we look forward to building this functionality in consultation with interested stakeholders.”

To protect users’ privacy, Apple and Google say they will build this system while keeping people’s identities anonymous throughout the process. That’s because the companies say they won’t build a database of who has Covid-19 and whom they’ve been in contact with. Instead, they’ll store that information in temporary, anonymous cryptographic keys that refresh every 15 minutes. Meanwhile, all participation in contact tracing will be opt-in, and both companies say they plan to release regular reports on the program’s progress.

Apple and Google released technical specifications and other details about the project in press releases on Friday morning. Though it will take some time to sift through these details, the tool’s announcement has definitely caught the attention of privacy experts, who broadly seem hopeful about the anonymized, decentralized nature of what Apple and Google are building.

How it works, in theory

Which brings us back to how the tool might actually work. In their announcement, Apple and Google mapped out a hypothetical scenario that does a good job of explaining the broad strokes of the contact-tracing process. It involves two people named Alice and Bob.

Alice and Bob meet each other for the first time while sitting on a bench for a brief conversation. Because they’ve installed the new Apple and Google technology, their phones exchange anonymized tracing keys (think of these as contact info files with a unique identifier instead of a person’s contact info). These keys indicate that Alice and Bob have been in contact, and because they’ve opted in to the Apple and Google contact tracing system, this exchanging of keys happens automatically.

A few days later, Bob finds out he’s positively diagnosed with Covid-19, and he updates an app with that information. With Bob’s consent, the app then sends an alert to everyone with whom Bob exchanged keys in the last 14 days. Alice is one of these folks, so she gets a notification that she’s been in contact with someone who has Covid-19. The notification also includes information about what Alice should do next, like go get tested herself.

As captivating as these drawings are, they represent a complex marriage of technology and design. That doesn’t mean that the contact-tracing system can’t work as advertised, but there are, so far, an unknown number of caveats that will come with its potential success.

How privacy matters

In announcing this new initiative, both Apple and Google have stressed that users have to consent to participate in contact tracing, that the apps won’t collect personally identifiable information, and that people who test positive aren’t identified to anyone else. Still, organizations such as the American Civil Liberties Union (ACLU) have raised privacy concerns about such contact-tracing systems — which are already being widely used in other countries such as South Korea, China, and Singapore.

“To their credit, Apple and Google have announced an approach that appears to mitigate the worst privacy and centralization risks, but there is still room for improvement,” Jennifer Granick, ACLU surveillance and cybersecurity counsel, wrote in a public statement on Friday. “We will remain vigilant moving forward to make sure any contract tracing app remains voluntary and decentralized, and used only for public health purposes and only for the duration of this pandemic.”

And that’s another looming question: Just how long will Apple and Google leave these contact-tracing tools embedded in their mobile operating systems? After all, if this technology can be used to track who you’ve been in contact with, it seems possible that it could also be coopted for commercial purposes or even for government surveillance. As Bennett Cyphers, staff technologist at the Electronic Frontier Foundation, said to Recode, “We don’t want anything to be built into the OS that’s going to be turned on forever.”

There are also questions about the accuracy of Bluetooth. Some have worried that Bluetooth could yield false positive matches, though it’s not yet clear exactly how Apple and Google will implement the proximity features of Bluetooth LE technology. Others have raised concerns about the location accuracy of contact-tracing mobile apps in general. Furthermore, for the tool to be most effective, a plurality of people must opt in to using it. The big test of this project’s success will be how widespread the adoption of this contact-tracing tool becomes, and if that will be enough to impact the course of this pandemic’s trajectory significantly.

There’s still a lot we don’t know about how the Apple-Google tool will work in practice. We’ll learn more in the weeks to come, after the companies roll out the APIs and public health authorities start releasing contact-tracing apps. But regardless of potential drawbacks, this tool represents one of the most ambitious private-public partnerships in recent history. It’s the beginning of a new future where tech companies are injecting their resources into a public health crisis, not only leveraging their power in a tremendous way but also raising questions about how this power will change society for years to come.

Via_Vox

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