We simply want to create an integrated and comprehensive ecosystem
Published on : Thursday 22-09-2022
Arjun N, Founder and CEO, SolutionBuggy.
What inspired you to start this project aimed at the manufacturing segment?
Although there are a few boutique consulting agencies, there is no independent platform to cater to the MSMEs in manufacturing. This is exactly where we sensed the opportunity and launched SolutionBuggy, which is a unique platform. We noticed that registration of MSMEs in the manufacturing sector is growing with a 20% CAGR, and so we came up with our cutting-edge AI-powered platform that enables industries and consultants to collaborate and work on projects together.
Even as the sector is thriving, manufacturing in India has not achieved its full potential. What are the restraining factors?
Power shortages, skilling and upskilling gaps, and land acquisition difficulties are some of the most significant challenges that India faces as a manufacturing hub.
There is a need for greater availability of power to realise the dream of becoming a manufacturing hub. India is running short of power with a deficit of 5%.
Also, with stringent land acquisition laws and inflexible labour regulations, it has become challenging for the country to attract investors in the manufacturing sector.
Furthermore, skilling and upskilling resources are needed on a large scale to ensure sufficient manpower requirements are met for mega industrial projects.
How have things changed post 2014 after the Make in India policy was promoted aggressively with various follow-up measures including the PLI Scheme?
Make in India and the Production-Linked Incentive (PLI) were essential stepping-stones to developing India as an effective, fair, and resilient manufacturing hub pursuant to the Aatmanirbhar Bharat Abhiyan. Make in India aims to encourage investment, foster creativity, improve skill development, protect intellectual property, and construct the best manufacturing infrastructure possible in the country. The PLI scheme, as its name implies, aims to offer businesses rewards for further sales of goods produced domestically. The government's ‘Make in India’ initiative has boosted manufacturing, and investments in electronics, healthcare, and other sectors are already paying off. This will contribute to India's reputation as one of the world's leading producers of high-quality goods.
Against this backdrop (above three questions), what is SolutionBuggy aiming to achieve?
We simply want to create an integrated and comprehensive ecosystem for manufacturing MSMEs in the country. Our mission is to provide domain expertise to small and medium-scale enterprises in the manufacturing industry to help them address their challenges and grow.
How are you planning to close the gaps (assuming these are highlighted in the previous answer) to enable the SMEs?
Although there are a few boutique consulting agencies, there is no independent platform to cater to the SMEs in manufacturing. This is exactly where we sensed the opportunity and launched SolutionBuggy to close the gaps. We noticed that registration of SMEs in the manufacturing sector is growing with a 20% CAGR, and so we came up with our cutting-edge AI-powered platform that enables industries and consultants to collaborate and work on projects together.
What are the opportunities and enabling factors that are now favourable to a ‘big push’ for scaling up?
The manufacturing sector is one of the major contributors to the gross domestic product (GDP) of India. In terms of the percentage contribution, manufacturing accounts for around 30% of the total GDP of our country, which is pegged at around $3 trillion. The relevance of the sector is crucial not only from the perspective of its contribution to the GDP but also from the viewpoint of employment generation. Importantly, the quality of the employment generated by the manufacturing sector is way better than that delivered by the service sector. This explains the focus of the policymakers on enhancing the prospects for the manufacturing sector, as this will provide a much-needed boost to the overall growth and sustainability of the Indian economy.
In terms of absolute numbers, the size of the manufacturing sector in India is approximately $900 billion. Any uptick in the manufacturing sector bodes well for the agriculture and service sectors too, thanks to the multiplier impact activities in the manufacturing sector have on primary and tertiary sectors. This multiplier effect, in turn, spurs the economy by reviving the growth of sectors across the business domains. Furthermore, given that India has the potential to become a global manufacturing hub, contributing $500 billion to the global economy by 2030, manufacturing ranks high among the three sectors of the Indian economy.
How has SolutionBuggy performed since inception, and how do you see the future growth happening?
Incepted in 2016, SolutionBuggy is now India's largest manufacturing consulting platform dedicated to small and medium-sized businesses. Our cutting-edge, AI-powered platform enables industries and consultants to collaborate and work on projects together. Through our dedicated project management module and network of expert consultants, we assist the manufacturing industry in addressing technical and business challenges. We also assist new entrepreneurs who want to enter the manufacturing industry by overseeing the entire project's execution.
As of today, we have successfully completed over 2,500 consulting projects and mapped 10,000+ experts across various industries across the country. Being from India's start-up capital and witnessing the emergence of platforms and aggregators (ranging from food delivery to AC repair to travel to everything in the B2C domain), I felt it was in our best interests to bring in technology and a unified platform for the SME manufacturing sector. The primary idea behind the platform is to help MSMEs connect with the right experts to address the challenges facing the manufacturing sector. We also added a slew of new features to the platform in response to customer feedback.
Although we have a large digital presence, the platform is also looking to expand its offices in the Middle East, South East Asia and Germany. We are seeing good traction on projects from these countries. We understand that awareness is the key in MSMEs and have already taken up the challenge of having knowledge sessions and webinars which try to upskill the MSMEs, both new and existing ones. We also intend to take up acceleration programmes for MSMEs and first-generation entrepreneurs.
Arjun N is the Founder & CEO of Solution Buggy responsible for the overall company operations, new initiatives and strategy. His extensive experience in research and development, networking and consulting has driven the progression of the brand. He started his professional journey with IIT Madras and developed a new product for quality control for heat treatment process in manufacturing industries. For the next 5 years, he was establishing his business by travelling to lengths and breadth of the country. He met top industry leaders in the manufacturing domain ranging from Bosch, Maruti, L&T, HAL, DRDO and 100+ SME industries. He started networking in multiple exhibitions, seminars and events, and understood that there is a huge gap in the MSME manufacturing industry with respect to technology adoption, accessing subject matter experts, and also convenience of hiring an expert in the 21st Century which still remained confined to close networks only.
Solution Buggy is India's largest manufacturing consulting platform, bringing together industries and consultants. A platform based on AI allows industries and consultants to collaborate and work on projects. The platform is unique in that it allows industries to post their requirements/problems and find relevant experts. SolutionBuggy also assists new entrepreneurs looking to enter the manufacturing sector by managing the project from start to finish.