Business Name: KludeOn
Founders: Meera Panchal and Akash Singh
KludeOn is a life utility app, a platform where everyday problems are solved by creating a solution space. There will be many uses to this, for example if you were to have flat tyre, you would take an image or input audio/text and the system would immediately identify the problem and tell you either how to solve it using real time information provided by other people or provide information from the web.
What inspired you to start your own business/project?
What has always driven us to work, is being able to create something that could make a positive impact in the world. The desire stemmed from growing in the technology era and witnessing how it has shaped our lives and continues to do so. Challenges have also been appealing from a young age for both of us and growing up reading about the smartest people in the world we developed the desire to want to build an environment in which we can be surrounded by them and working with them to create a new tool for the next generation.
What was your biggest fear about starting your business and how have you overcome it?
Social anxiety – Both of us had social anxiety for different reasons; the fear of being judged as an entrepreneur. You have to put yourself out there and be ready for criticism, as well as public speaking. In only a few months of starting, we have had to pitch and speak to large groups of known and unknown people – practice and preparation have been the best tools to over come social anxiety.
What are you most proud of? – e.g. personal milestones, awards, sales, awareness increase, positive feedback.
The people we have become and the qualities we have developed through all our challenges. To have shared our vision to a post doctorate and have him want to join our team to build our system.
How does your business differ from others? What’s your USP (unique selling point)?
“We’re combining two advance technologies of image recognition and big data for machine learning and look at defects in images to solve everyday problems – it is a new use of two technologies as well as the opposite of the concept ‘search”
How did you come up with your business name and branding imagery?
We read an article on psychology where it stated a name with a K is attractive to the human mind and then Akash had a dream where he came up with the word Klude, we later then added the ‘On’. We also wanted to use a word that doesn’t exist to give it a meaning such as Google.
How have you promoted or marketed your business?
We are currently in early stage marketing, we are creating a YouTube channel where we will be recording our daily activities as entrepreneurs. This will become a platform to promote our company and bring awareness and insight to what a start up is like.
How did you raise funds for your business/project?
Currently we’re bootstrapping, however we’re entering lots of competitions where there are non equity cash prizes awarded. We are also applying for an accelerator programme in Silicon Valley called Y-Combinator, where they offer $120k.
Looking back, what would you have done differently with your business/project?
- Look more vigorously for the tech person.
- Work at a faster pace.
- Bottom line- be more resourceful.
Where do you want to be in 5 years?
- Been through a series of funding rounding.
- Established in the largest markets in the world e.g. India and China.
- Serving over 20 million users.
- Have a great team built.
How has/did University support you in developing and growing your business/project?
We only sought the help of our university recently before then we were working independently with our mentor. It has however, been very helpful since we joined the university entrepreneur team. Especially the weekend away, we got to meet a lot of interesting people and start ups at different stages. Having monthly meetups has also been very beneficial as we now have a deadline to meet before the competition, and this helps us keep track of our deliverables.
Why do you believe enterprise skills are important? Please give us a brief quote.
“As a start up you’re everything, therefore you need to be resourceful in order to accelerate at a pace which is unnaturally fast, if you lack the skills it will be 5 years and nothing would have moved forward from your initial idea”
KludeOn are currently participating in the NACUE Varsity pitch and need your support.
Please click here to cast your votes.