INNOVATION SPECIAL.....10 TOPMOST INNOVATIVE COMPANIES IN INDIA

10 TOPMOST INNOVATIVE COMPANIES IN INDIA

01 JioSaavn

For localizing music streaming, including original content

RANKED 28 OVERALL JioSaavn is an Indian music streaming service that distributes Bollywood, English, and Indian regional music. The service, which offers more than 40 million tracks in 15 languages for 38 million active users,  was founded in 2007 and merged with Telco giant Reliance Jio in 2018. It’s now wooing the Telco’s 272 million high-speed mobile customers. Inspired by Netflix, the company also creates original content with independent artists through its own music label, which it promotes on the platform. Already, the company has had several top-three hits on the iTunes India charts—a rare accomplishment for songs that don’t come from a Bollywood movie soundtrack.

02 Oyo

For expanding its hotel options to appeal to business travelers

 India’s largest hospitality company is Oyo, an Airbnb-esque network of properties that include free Wi-Fi, free breakfast, white linens, and other hotel features for a fraction of the cost of a normal hotel. The platform also includes on-demand booking and virtual check-in and checkout. Oyo saw a gap in India’s budget hotel offerings and has since used tech to make them a more viable option to tourists and visitors. So far, Oyo has partnered with 8,500 hotels and 70,000 rooms in more than 230 cities, while closing major funding rounds led by backer SoftBank. Oyo has also launched a higher-end brand called Townhouse, which is geared toward millennials with the goal of creating a community hotspot, a cafe, and a merchandise store experience all in one. The company also partnered with MakeMyTrip, India's largest online travel agency, to make its booking experience even more seamless.

03 Saathi

For transforming banana fibers into biodegradable sanitary pads

Saathi has developed a 100% biodegradable and compostable sanitary pad made from banana fiber, one of the most absorbent natural fibers in abundance in India. The pads degrade within six months of disposal, 1200 times faster than conventional pads, and eliminate the need for incineration, reducing CO2 production. The company claims to eliminate 60 kg of pad waste, per woman, in her lifetime.

04 RupeeCoin

For redefining new credit scores for the unbanked and giving them access to microlending

RupeeCoin uses big data and AI to redefine credit scores for the poor by looking at thousands of data points including geolocation, behavior, websites, social media profiles, and search data that are analyzed for creditworthiness. The scores can enable access to capital and peer-to-peer micro lending.

05 Ola

For helping Indians access public transport using technology

Bangalore-based transport company Ola has expanded to a network of more than 1 million vehicles--cabs and autorickshaws--across 169 cities. In 2018 it acquired Ridlr, an Indian public transport and ticketing app that lets users access real-time information about different transit systems and helps them book tickets digitally. 

06 Chakr Innovation

For reducing diesel emissions by converting soot into inks and paints

Chakr Innovation uses technology to reduce emissions from diesel generators and bring down air pollution levels. The company’s core product, Chakr Shield, captures diesel soot from generators and converts it into inks and paints.

07 ShareChat

For bringing the next billion onto social media

ShareChat is a social media network bringing rural Indians to social media. What started as a niche site for people to communicate in their local dialects could now become the first true domestic social media giant in India due to their popular broadcast chat feature, which allows users on mobile phones to broadcast conversations and commentary about any topic they wish. 

08 Swiggy

For finding types of food unavailable locally and delivering them

Before meal delivery service Swiggy came onto the scene, Indian customers rarely ordered food to their homes due to unreliable delivery. By managing their own fleet of delivery people rather than relying on restaurants to deliver food themselves, the company was able to create a market where there hadn't been one before. Swiggy also created "Swiggy Access"--a program where they identified cuisines that are lacking in certain areas and created dark kitchens or cloud kitchens by inviting some of their best restaurant partners to open them in the area.

09 Chai Point

For introducing a Starbucks-like model to chai and serving corporations with a new cloud-based platform

Chai Point is changing the way Indians buy and consume their most popular beverage, chai. The company adopted a Starbucks model selling it in stores, and caters to corporations with a cloud-based beverage service called BoxC, an IoT-enabled automatic chai dispenser.

10 Dream11

For turning cricket and kabbadi into fantasy sports

Dream11 was founded to address the fact that  there were no fantasy sports leagues dedicated to Indian sports such as kabbadi and cricket (most fantasy sports apps focus on sports popular in the West, like soccer or football). International Council of Cricket (ICC) has signed a deal with Dream11, India's biggest sports gaming platform, to make it its "Official Fantasy Game Partner" till 2023.

https://www.fastcompany.com/most-innovative-companies/2019/