Infiniteworx endeavours to provide digital services to the unorganised sector in India. Bijoy Banerjee, CEO of infiniteworx, spoke to BE’s Ankita Chakraborty about his platform and how he plans to use it to empower the unorganised sector.
Q. What is infiniteworx?
A. Infiniteworx is India’s only technology company, which is working towards the socio-economic upliftment of the unorganised sector. Our basic premise is to bring the entire segment of the unorganised sector within the ambit of digital India. If the unorganised sector, which contributes a large portion of the GDP, continues to stay away from the digital mission then the vision of digital India cannot be realised. So, as a technology company, we aim at innovating technology driven solutions for a variety of needs originating from the unroganised sector. We believe that such technological solutions will enable them to do their business in a more competent, productive, and efficient manner.
Q. Could you give us some examples of your work?
A. It is true that we cannot cater to the entire unorganised sector at one go. So, to begin with, we have taken up Indian retail, health (not healthcare), enquiry, entertainment, and education. An example is myretailuber. This is a solution tailor-made for the unorganised sector in the retail space. The Indian retail space is worth about $650 billion and out of that, only about 3% to 4% is the online channels and about 5% to 6% comprises of the shopping malls. The remaining 90% is actually serviced by the unorganised sector which is contributing around $600 billion to the Indian economy. Today, through our innovation, many locality shops are available online. Customers can hence order online and the order would be received by the shop. Myretailuber will organise the delivery. Customers can pay online. Cash on delivery is also available or the amount can be added to a customer’s notebook.
Similarly in the health segment, we have come up with mydietworx that enables the users to follow a health conscious diet. We also have a technology driven solution for the enquiry segment. That is myskilworx.
Q. What were your initial struggles?
A. Anil Pagar, the Founder Chairman and MD of infiniteworx, and I have been associated with the IT industry for quite some time. We understand the value of innovations and also understand that there is a dearth of that in India. As far as the challenges are concerned, the first and foremost challenge is obviously to stay original.
Q. What are your expansion plans?
A. Within this fiscal, we will have at least 15 offices in this a country that will be spread across all the major cities. By 2019, we aim to reach 1 to 3 crore shops through our retail solution.
Q. Any advice for young entrepreneurs?
A. The first one will be to think of an idea which will solve a real problem. Secondly, if you do not have a passion for anything, do not do it. Money is an outcome. But if you want to come up with something fresh but don’t have funding, secure the funding and use it judiciously for the growth of your business.