Mumbai: The job hunt for Pune’s budding startups has been tough.
Its been nearly two years since the start of the city’s job market and the city is still waiting for the first batch of candidates to land their dream jobs.
Many startups are struggling to find people willing to work on their projects.
Some of them, like the one of mobile payment startup Paytm, are still looking for candidates.
Others, like Laptopshare, are in a tough spot.
In February, Laptopshare was forced to shut down due to an unpaid internship.
This was only the latest in a string of failures that have seen startups struggle to find a work-able talent pool in the city.
“The startup industry is still in the early days of hiring talent,” says Suresh Chaudhary, the founder and managing director of the MNC firm Kalaipur.
But the challenges facing startups in Mumbai are not unique to Maharashtra.
Since the start.
of 2017, at least 10 startups have shut down in the country.
Of these, four were founded in the past year alone, including a number of young-startups that had not made it far from the stage of raising seed capital.
It was not until 2016, that an entrepreneur, Kalyan Singh, had a chance to venture out from his college to Mumbai.
He was so moved by the city that he went to the startup incubator YMCA Mumbai and was awarded a $1 million grant to start a new startup.
Now, he has another startup, which he plans to launch soon.
Like many startups, Kalaiphash, which started as a mobile payments company in Mumbai, was shut down after failing to make its funding rounds.
It was one of many in Mumbai that failed in the capital of an established startup hub.
A team from Mumbai’s Pune University, led by Rakesh Sood, also decided to go it alone.
“We didn’t have any money.
So, we went to YMCT and pitched a few ideas.
But we failed in our first pitch,” says Rakeshe Sood.
We were lucky to have a team like that, he adds.
So, the idea of founding his own company, Kalingaipur, was born.
When the company first launched in Mumbai in September 2017, it had no financial backing and was only a couple of employees.
But over the past two years, the company has built its brand and made it one of the most valued startups in the sector.
Kalingaiphash is now in the process of raising $10 million from investors including Kalaippur.
The company has also started a social media campaign and is hiring engineers to work with the team.
After its initial success, the startup team decided to set up its own incubator.
This meant that the team was able to focus on hiring talent from Mumbai, instead of going to Bangalore and Delhi for hiring talent.
The success of the company was so impressive that, in December 2017, Kalalapur joined forces with YMCC Mumbai to create the first incubator in the region.
With the help of Kalaiddas team, the team started working on creating a platform that would help the startups with their business planning.
The platform is called Startup Mumbai, and it will allow the startups to raise funding from angel investors.
At the moment, the platform has over 20 companies in its portfolio and is valued at Rs. 1,100 crore ($1.1 billion).