The startup crazy has officially taken over India. Although entrepreneurship is no strange concept to Indian businesses, the idea of the Silicon Valley-type startup founder is a relatively new fad. The idea of angel investors, fund raising, cool technological advancements and startup meetups have taken over the urban regions of India and the world.
But do you know what is missing from the equation? Good ideas. There is a reason why a company that makes juice pressers worth $700 raised $120 million and shut down the moment one smart reporter realised all you needed to do to save yourself all that money was press the juice by hand. The infamous company, Juicero, shut down last October after this stunning realisation.
That’s why, when you first hear about a company disrupting the mattress industry, you tend to be skeptical. Why do we need to remake the bed? We’ve had it good for decades, so clearly this company is destined to die very soon. Yet, talking to Kabir Siddiq, CEO and founder at SleepyCat, is extremely optimistic. And with good reason.
His little manufacturing and online distribution company have done something spectacular; they’ve actually managed to reinvent the mattress. Based out of Kolkata, they’ve delivered new-age mattresses across the country with little to no marketing budget. And they’ve done it by raking in profits from day one; despite regularly donating their product to homeless shelters and other organisations that can’t afford it.
You can also listen to this interview as a podcast here.