We see a lot of times people wanting to buy unique products from abroad drop the idea because of the hassles involved in paying customs and duties which itself costs 50% more than the product price listed on the website. But we easily accept such products as gifts from our friends residing abroad. Why? Because we don’t want to take any effort and need everything to be delivered at our homes.
Opportunity:
Looking to eliminate this problem Teja Reddy founder of Tectotron has decided to tie up with startups around the world along with Indian startups to introduce their innovative products to the Indian market and make it accessible for customers without having to worry about the customs shipping etc. In the process Tectotron has become the India’s first online store for innovative tech gadgets.
We see a lot of Indian startups despite coming up with great products don’t make profits because they don’t have the muscle power in terms of marketing spend to reach out to their target segment. Tectotron helps such startups to list their products on tectotron.com and help market their product and also does the delivery. It has already tied up with Delhivery. It is committing a delivery period of 1 day in Hyderabad and 2 days all over India.
Business model:
Tectotron keeps the inventory of all the products shortlisted from the interaction with more than 150 startups. Tectotron aims to connect Indian startups to market outside India as well to enhance their business.
Tectotron would be seeking for new revenue models once it establishes it selves as the hub for innovative products
Competition:
This startup is a new entrant in this space as there are players like amazon, Flipkart, Snapdeal trying to be everything to everyone. Its mission is to be everything to the technology enthusiasts and make a mark in this niche segment. This startup has a first mover advantage as the market is dominated by generalists
Recognition from the government:
CEO Teja Reddy presenting the idea to the Government of Telangana
Some of its products like pocket scanner and drinkmate have received appreciation from government of Andhra Pradesh and Delhi which shows the difference tectotron (tectotron.com) wants to make in the lives of the people through its selection of truly innovative products.
Team Tectotron:
Teja Reddy: MBA from Hult International Business School, Naresh : IIM A -2016 Batch pass out B.Tech – Jawaharlal Nehru technological University Hyderabad, Sairam Gandham : 12 years experience in Supply Chain. This article is written by Naresh. Read more about Indian Startups.
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