Govt's T-HUB was a huge support, but start-ups should get some tax exemptions: CodeCrux
Govt's T-HUB was a huge support, but start-ups should get some tax exemptions: CodeCruxHyderabad, Oct 14 (KNN) CodeCrux has recently emerged to be a worldwide provider of full-fledged spectrum of Creative Design, Web and Mobile app Development and API Services and has been riding on the ladder of success. Delivering many projects for clients across the globe, the start-up is spreading its web of success across many countries including USA, UK, Europe, Australia, Germany as well as India.
In a conversation with Shyam Mohan, the Co-Founder of CodeCrux, KNN got enlightened about the complications they had to face while constructing their business.
Shyam told us during the interview that he along with Dinesh Yadav, Deepak Vig, who are the other two co-founders of Codexcrux, was working in a start-up together where they met and decided to work on a trading software.
“We met 5 years back as colleagues. While working, we realised one thing, that trading was difficult to understand. We gradually developed a keen interest into making easy-to-use trading software, preferably for layman use. That is how we laid the foundation for CodeCrux,” said Shyam.
CodeCrux, with the current manpower of 10 employees, provides diversified services that include web and mobile app design and development, e-commerce, internet marketing, API development, back-end server side programming and cloud service set-up.
The journey from ideation till execution was not easy for the founders. They were all new to the business world and had no clue about setting up a company.
“We talked to many experienced entrepreneurs to be sure about our plans with CodeCrux,” the founder said adding, “We also took the help from the consultants to move ahead with our business. Although now we are an established Private Limited Company, but we being Professional coders, initially had to through a lot to set up CodeCrux.”
As inferred from talking to the founder, raising CodeCrux was indeed a big deal for them.
Cash flow is one of the most important aspects of starting a business. The founders of CodeCrux were familiar with it and thus they followed a planned approach to attain funds for the start-up.
“We divided our entire team into fragments. One of the fragments was completely devoted to develop services and raising funds.” The entrepreneur said. This planned approach worked out for them as they managed to Iay the focus entirely on cash flow which according to the entrepreneur was essential.
Graduating from IIT Hyderabad, the founders started the business in 2014. “We have observed a massive upsurge in the SME sector in India. Many enterprises can be seen emerging these days in different sectors. The trend is growing slowly, signalling the growth of SMEs in India,” uttered the entrepreneur.
Although, the recently launched products by CodeCrux, Leefstay and Exploreout, seem to have gained popularity and are running successfully, the founder declared his plans to launch two more products - postfridays.com and goos.in - in the coming years.
“We are surely going to develop and enhance our existing models along with working on our new products,” disclosed the founder.
The founder holds the view that government is quite supportive when it comes to promoting and developing the emerging start-ups in the country.
Being based in Hyderabad, the founder himself acclaimed support from T-HUB, which is an effort by the Telangana government to promote SMEs. T-Hub is a unique public/private partnership between the government of Telangana and the three of India’s premier academic institutes in order to encourage and fuel more start-up success stories in India.
“The T-HUB collaboration by the government can invoke a spark among the other state governments to take initiatives in supporting the newly emerging enterprises in India. T-HUB has proved to be a big hand in our success,” said Shyam Mohan.
“I also believe that the start-ups should be exempted off the taxes to some extent for a given duration,” he concluded. (KNN/ J)