NAME OF THE COMPANY — GARUDA Pvt.Ltd

ABOUT:

GARUDA is a startup dedicated to the armed forces of India. Our main idea is to bridge the gap in drone technology which India currently faces as compared to its western counterparts and also to make India Atmanirbhar (Self-Reliant) in drone technologies. The problem we saw that even after 73 years of independence and In spite of having the best brains in the world ,India still heavily depends upon other countries for defense equipment(s). So to tackle the problem here are we with our first and most ambitious startup GARUDA.

MARKET DEMAND:

There is no doubt that market demand of military as well as commercial drones is ever increasing. In fact the market demand for military drones (UAV) is expected to grow from $12.1 billion in 2018 to $26.8 billion in 2025,at a CAGR of 12%. Moreover the ever increasing use of unmanned aerial vehicles in various military applications such as mapping, surveying, combat operations is also a factor which is leading to the growth of drones industry in India and also across the globe.

REVELANT PRODUCTS IN MARKET:

Currently there are many other companies in this market like Northrop Grumman corp., Boeing company, Israel Aerospace Industries, Lockheed Martin Corporation but how we are unique is that :

  1. Since our main and primary customer will the Government of India and also our products will be made in India , our products will be far more cheaper than the ones which are being imported.
  2. Also a unique thing about our startup is that since we will strictly adhere to the policy of “MAKE IN INDIA” our startup will help in creating many direct as well as indirect jobs.

TARGET CUSTOMERS:

The process of determining the target customers for a new product differs from the process used in a more established product. Also determining the target customers requires a more qualitative approach.

Since our startup is defense oriented startup, our target customer initially will be the Government of India and also some foreign countries ( subject to permission from GOI)

The dealings between us and the government will be strictly confidential .It is as simple as that.

Required Knowledge:

  1. Research and Development:

It took a lot of time and countless hours to look further and without a proper R&D it would be not possible to even start our project. 70% of the funds received will be allocated to R&D wing.

We also took a clear look into the companies which are currently in the field. We analyzed their drawbacks their way of handling the business and checked whether we are not following the same mistakes.

We have also planned to partner with DRDO and ISRO, which would be really helpful for us in the long run in the business.

2. HARDWARE REQUIRED:

Drones are complex fusion of software, hardware and physical mechanics. There are thousands of working components in a drones, but the main ones are as follows:

BODY:

The body of a drone consists of wings, rotors, arms and fuselage. The power of the drone is generally supplied by batteries and fuel and sometimes even solar power.

SENSORS:

Proprioceptive sensors: They measure and give the values of speed, load, battery voltage etc.

Exteroceptive sensors: They are required to gather information from the drones environment, for example light intensity, amplitude, distance etc.

ACTUATORS:

They are the components which are used to convert energy into mechanical or are used to control a mechanism or system. They receive their energy from a energy source such as electricity , hydraulic pressure and are activated by control signals such as voltage , pressure, etc. They are found in many UAV’s and hence are a internal and important part of it.

3. SOFTWARE:

The most complex part of the drone will be its software. In layman’s terms, its the brain of the drone. The drone software is designed to tell it where to go and what to do. There are various layers of software in a drone, and all these layers should work simultaneously and seamlessly. The combination of all the layers of software is called an Autopilot.

While we at GARUDA Pvt Ltd, initially will use open source code stacks for testing and R&D but will eventually develop our own software.

SOLUTION:

Following the given 5 steps would surely help us in our endeavours.

BUDGET:

One of the most important part of the startup is the budget. Making a budget helps in the growth of the business. The budget keeps track of the expenses and allocates funds towards essential resources. Additionally, it enables us to plan the future based on campaign goals.

Our estimated total budget is about $50,000. This is the total budget which will be further divided into 4 sub categories, which are R&D, Software development, marketing and unexpected costs.

R&D- Out of the total budget, 50% will be allocated to this department. This department will also be our topmost priority.

Software Development- This department will receive 25% of the total budget.

Marketing- Marketing will help us to build our first impression of our company like . This department will also help us to receive more funds. 20% of the total budget will be allocated to this department.

Unexpected costs- These are the hidden costs that will come in the course of time. Sometimes things doesn’t work out or sometimes takes more time than projected. Therefore we have decided to to reserve some funds for expenditure that may come unexpectedly.

PRODUCT PRICING:

The pricing of our product cannot be determined beforehand , but we will have 2 way strategy to price our product-

  1. Know our total costs- This will include all our direct costs, as well as the money spent on research and development of the product. This will also include variable costs. All these costs add together to produce a figure.
  2. Understanding market- Understanding the market is one of the key aspects of pricing a product. This will decide how much our target customers are willing to pay and how much our competitors are charging.

MARKETING PLAN:

Marketing comes into play after the completion of our product. We are developing our own website in that regard.

Also we will be focusing on promoting our product on social as well as electronic media. We have also collaborated with our friends at BENNETT UNIVERSITY and DEI as well as IIT BOMBAY to devise and formulate a marketing strategy.

RISK ANALYSIS:

We are aware of the fact that our startup is a risky venture as manufacturing military equipment in itself is very hectic task and require a lot of patience as well as testing. But we are committed and compassionate towards our goal and risk is nothing when compared to it.

Milestone and Timeline:

We have not fixed any particular timeline as we know the nature of our work very well. It requires dedication and also a lot of time.

Our ultimate goal is to become global leaders in drone manufacturing and make our nation proud.