Technology broke into our lives and changed it forever. Sometimes you want to go to the window and enlarge part of the picture by spreading your fingers, or scroll a paper book by analogy with the electronic one. Did this happen to you? For some, this is an occasion to praise or scold progress, and for an Indian entrepreneur, this situation became the reason for creating a company worth $ 2 million.
Technology: evil or good?
Shet is the founder and CEO of Skillmatics, an educational gaming business designed to reduce children's technology dependence.
The young businessman started the company in 2016 after he caught his three-year-old nephew, who could not understand how to open a children's book. "Hmm, but this is a real problem and a great market niche!" he thought.
Three years after this, Sheta became the first Indian brand to receive resounding success. His company's products are featured in Hamleys Children's Stores around the world.
Market definition
To start the project, a consultation with parents in Indian Mumbai was needed. It turned out that many have a similar problem.
Groping a niche, the young businessman quit his job at the Boston Consulting Group and invested $ 50,000, which he saved. The development of a number of games for early learning has begun, designed to switch the experience of children from digital applications back to games in reality.
As the founder of the company admits, he needed 6 months of work with his parents to develop solutions to exclude the impact of technology on children.
So, working with product designers in the United States, Shet came up with a number of great games for children aged three to six: reusable Write and Erase kits in industries such as mathematics, science, languages, and logic.
“Young children learn best through repetition. We knew that we needed to create reusable games, so we came up with the concept of “Write and Erase,” said the founder of the Indian company.
Thoughts globally
With a line of eight products, Skillmatics has begun selling online. Within six months of launching in July 2017, the educational game from India became Amazon's # 1 product.
As the author admits, they almost did not spend on marketing in this story. Everything happened by itself.
A successful start was only a stage in Shet's global plan to create a famous international brand from India. Entering the world level was crucial for the creator. He even abandoned the $ 750,000 investment in the project, as the investor wanted to focus only on the Indian market.
Skillmatics aims to conquer the markets of America and Europe. The company's products are now available in 15 countries around the world through its own website and online markets. Products are also available in retail stores (there are more than 3,000) thanks to cooperation with the international network of Hamley.
A startup from India received $ 1.5 million through the acceleration program Sequoia India. Thus, in total, the business idea attracted about $ 2 million (130 million rubles).
The secret of success from India
Skillmatics founder advises focusing on practice. Instead of getting an MBA degree, it is better to pay attention to real work experience.
Among the mandatory qualities of a businessman, he distinguishes firmness and perseverance. Not a single trip is a direct line: even the best companies were often close to bankruptcy. The main thing is not to panic and go to the intended goal.