Tag: coronavirus India

IIT Madras tackling coronavirus by developing innovative solutions through startups

IIT Madras is battling the Covid 19 situation with the help of innovative solutions through incubated startups

India continues to battle Coronavirus by staying in and skipping the outdoors. During this time, many warriors out there have been doing their bit to ensure that each one of us. In the Covid situation, IIT Madras researchers have been developing face shields, N95 masks as well as IVRS (interactive voice response systems) to battle the pandemic which has wreaked havoc globally.

A startup Antariksh incubated by IIT Madras has now developed a smart bin system called as “AirBin” which helps in monitoring the level of waste accumulation through cell phones. Startups from IIT Madras have also collaborated with the Government of Tamil Nadu and launched the IVRS so as to help in reporting the number of covid 19 cases in the south Indian state.

The response system also provides real time advisory along with telling if the user should take any precautionary measures on the basis of symptoms, travel history as well as other shared information. This initiative has been launched as a part of the Aarogya Setu app. This has helped in filling the gap of reporting of cases through the country

Another IIT Madras startup, another IIT Madras startup has developed 25000 masks as well as other protective gear for doctors as well as other medical professionals. Across several IITs, there are more than 200 active research projects to battle Coronavirus fright from sanitizers to cheaper testing kits.

 

First COVID-19, and now WeWork is giving hard time to Indian startups

COVID-19 pandemic have shaken up the global economy and young Indian startups is no exception. They are going through very hard time right now. Several young Indian startups are now facing a death knell due to contractual technicalities and indifference from co-working major WeWork.

COVID-19 pandemic has wreaked havoc over the global economy. The worst sufferers are young Indian startups who have been going through quite a hard time. There are many young Indian startups which have been facing several issues because to contractual technicalities and indifference from WeWork.

Just about a few weeks and a global pandemic that the strategy became a deterrent for customers and a also becoming a big liability where the company has no scope for any further setbacks. Most of WeWork offices are open, however, there are hardly people coming in than before.

WeWork customers are required to pay 30% of the rent during the lockdown period which was started on March 25, 2020. This does not mean that customers are getting a discount of 70% in the rent but WeWork is offering to give a credit equivalent of 70% to their existing contracts. Therefore, customers will continue paying the entire amount of monthly rent despite not using the co-working space. After the lockdown ends and things stablize, WeWork will add the extra days to their contracts which is equal to 70% of the rent for the days its offices remain shut.

With all the current loss in the business for the startups, WeWork is adding to the hard time and taking rent despite the offices are closed. If this continues, many of the startups will face a huge loss and in the verge of closing.