Ekraft : Daksh Pandya
Q1.How would you describe ekraft in under 50 words?
Ekraft is an innovative Generation Next technology company crafting tech-enabled products and solutions for the new-age global "always-connected" consumer.
Q2.Who is the team behind your venture?
Ekraft was founded by Daksh Pandya, an innovator and first generation technology entrepreneur with 10+ years of experience in Entrepreneurship. He has successfully founded and exited multiple startups in his young career. He is backed by a young team of hardworking dedicated and intelligent engineers with diverse experiences.
Q3.What projects do you have in the pipeline?
There are currently multiple projects in the pipeline. Some are patent pending while others have filed for appropriate trademarks/patents. To name a few - 1) Smart Chess Board will revolutionize the analytics behind the game of Chess. 2) Digidice - digital convergence for the global board gaming industry; etc. And various exciting new games are on Play Store!
Q4.How long did it take you to build company?
Company was founded in 2012. Slowly and steadily built it into Bootstrapped mode.
Q5.What is the biggest hurdle you have faced or are still facing?
The single biggest hurdle that we are facing - which is particularly unique to our business in India - is to increase the speed of scaling our business. India is a unique country where most consumer businesses strive on volume, while value per customer is typically the lowest in the world simply because of the paying capacity of consumers in India. In this environment, the risk of scaling the venture at a rapid pace may lead to depletion of your capital and a resultant significant stress on Cash flows which could eventually lead to the shut down of your business. On the other hand, if you are too slow in scaling then you will see other competitors catch up and take your market share away. As a result, you are always in that situation where you have to take few difficult decisions.
Q6.If you could only give one piece of advice, what would it be?
Plan Less, Execute More.
Q7.What is your one tip for aspiring entrepreneurs?
Don't run a business to chase and raise funds. Worry about and chase your first 100 Paying Customers!
Q8.What was technically the most challenging part of developing a product?
The journey of the product from the prototype to final product is a tough one, and in many cases you see it fails to reach its desired destination. When we manufactured DigidiceTM our innovative product, there were many instances when we could not see the light at the end of the tunnel and we had to make a call whether we should continue spending more time and effort on it. These decisions and timely iterations can either make or break your product.
Q9.How much time do you spend working on eKraft on an average day?
I live, breath, eat and drink Ekraft! You can say for whatever time I am not sleeping, I'm spending on Ekraft.
Q10.What’s the most interesting tech article you’ve read this year?
Wouldn't single out any article, but it is very interesting to see the rapid evolution in technology especially to see what the tech giants are working on, For example, project jacquard by Google, Oculus Rift by Facebook and power wall by Tesla - the scale and pace of technology evolution has just gone up rapidly over the last 4-5 years.
Q11.Who do you see as your target audience?
Our Target Audience is today's global consumer who is more tech savvy, who is always "connected" through the digital world and also likes to experiment with new Gadgets & Apps.