Ideation Of Ideas - Giving Rise To Unicorns In India

S Mohini Ratna
Editor, VARINDIA

It is all about the ideas playing the game…..
 

Your knowledge and ideas are communicated through a programming language that is API (Application Programming Interface). API is a software intermediary that allows two applications to talk to each other. In other words, an API is the messenger that delivers your request to the provider that you’re requesting it from and then delivers the response back to you. API enables the interaction between data pipelines, applications and devices that is essential to any online business infrastructure. The role of business analysis and business intelligence can’t be avoided.
 

Every piece of software built today either uses an API or is an API. It has become an essential element in today’s digital economy—and that means the API growth rate is increasing at an explosive pace. API integration platforms allow businesses to communicate information between multiple APIs. For example, a business may have an e-commerce API set up, an internal operations API, as well as a marketing API. The information from all of these APIs can be integrated using an API integration management platform. There are millions of APIs available as on date. However, selection of the best API to suit your needs is the foundation of the business strategy.
 

Developers are now much more productive than they were before when they had to write a lot of codes from scratch. With an API they don’t have to reinvent the wheel every time they write a new program. Instead, they can focus on the unique proposition of their applications while outsourcing all of the commodity functionality to APIs. Hence, API integration platforms are a huge productivity booster.
 

There are various API integration platforms available that allows you to create a new API from an existing integration. API integration platforms allow you to create new APIs with the click of a button, saving your time and money while allowing you to get the most out of your existing technological investments.

AI-based APIs are the fastest-growing category specifically around areas like facial recognition and text analysis. Machine learning adoption has exploded recently, driven in part by the rise of cloud computing, which has made high performance computing, network and storage more accessible to all businesses.

It helps the birth of start-ups. It keeps polishing and giving the finishing touch to offer services to either the existing technology and solutions or supporting the human need. Some of the biggest factors, venture investors are looking for in startups are uniform across the board for any technology vertical. However, there are some factors that are unique in 2021, namely due to the pandemic.

At the same time, scalability will always be one of the most important factors for those looking to invest in a successful startup. When there are opportunities for growth, startups should be ready to capitalize on them immediately. Investors are also looking for startups that can continue to improve their products without the need for substantial capital investment.

Another most important thing is the investors are looking into a solid business plan. They want assurance that there is a real, widespread problem that the product solves. Investors also want to see financial reports and projections of revenue growth backed up by market analysis.

Most social networking platforms, online video platforms, large e-Commerce sites, search engines, companies into cyber security and other services have some sort of recommendation engine system based on machine learning algorithms. The movies and shows that people like on Netflix, the content that people like or share on Facebook, the hashtags and likes on Twitter, the products consumers buy or view on Amazon, the queries users type in Google Search are all fed back into these sites' machine learning models to make better and more accurate recommendations. Like this , various attack methods, including fooling a model into incorrectly classifying an input, obtaining information about the data that was used to train a model.

IT fuels the growth of start-up companies and subsequently achieves the status of the so-called unicorn (A company worth billion dollars). However, many start-ups in the country are diluting their stakes to the investors for the future growth as they are shortage of funds. As a Result, the founders and co-founders are now left with minimum share holdings and the board has to take further calls on any growth and investment in the company.

In the year 2021 we have seen the Eleven Indian companies that have achieved the status of Unicorn and they are Digit, Innovaccer, Infra.Market, Five Star, Meesho, Cred, Pharmeasy, Groww, ShareChat, Gupshup and Chargebee. These companies are able to achieve this status because of their disruptive ideas and helping the industry and verticals to grow. Currently, India is home to 48 unicorns - startups with valuation of over USD 1 billion. To facilitate the growth of startups, the Indian government had announced the 'Startup India, Stand-up India' initiative. As on December 23, 2020, the Indian government has recognised a total of 41,061 startups and 4.7 lakh jobs have been reported by more than 39,000 startups.

Startups have the potential to be the engine of growth in the long run. The Indian start-up ecosystem has been progressing well, despite the COVID-19 pandemic. However, potential threats are emerging from the manipulation of API and algorithms, especially those used by social networks hold broad societal implications. It is widely understood that algorithmic manipulation has led to entirely false stories, conspiracy theories, and genuine news pieces with altered figures, statistics, or online polls being circulated as real news.

And this number is likely to increase in coming years with technology to play a big role.