16 Feb 2018, 09:31 — 9 min read
Munish Jindal is a serial entrepreneur who is looking to start a sustainable revolution in the Indian mobility space with his company HoverRobotix. His products, propelled by Artificial Intelligence (AI), include hover boards and self-balancing bikes; and his vision is to ensure that every Indian family has a product from his company in their garage in the coming years. With sustainability increasingly becoming an area of interest for governments and businesses alike, Munish might be well-placed to be at the centre of a revolution in the mobility sector in India. His hoverboards are eco-friendly, easy to use, and are expected to be accepted by people across all age groups. As an entrepreneur, he believes in self-funding his enterprises. A dedicated worker, Jindal lives by the motto of “We rise by uplifting others”.
In conversation with GlobalLinker (GL) Munish Jindal (MJ) shares the story of his business.
GL: Tell us about your business?
MJ: ‘HoverRobotix’ brought the concept of personal mobility, and introduced hoverboards to India. To give form to a concept out of science fiction, make it happen and then make it reach the masses, is a significant achievement. HoverRobotix manufactures artificially intelligent hoverboards, robotrons and mobilitybots that add a unique spin to daily commuting. Commuting was never this much fun. Apart from taking care of your transportation needs, it also caters to your inner child bursting with excitement about the prospect of zooming around on a hoverboard or a two wheel self balancing electric scooter.
Anyone from the age range of 5 years to 60 years can ride it, as it can take maximum weight of 125 kgs with maximum speed up to 20 kmph. You can ride it on any surface - roads, speed bumps, parks, grass, sand, interlocking tiles. It’s almost an all-terrain two wheel automobile-grade robot, run on rechargeable lithium-ion batteries. It can even go uphill, on ramps, inclines as well as down slopes. HoverRobotix has conducted fashion shows on hoverboards, organised cricket matches as well. Even golfers are falling in love with HoverRobotix, as they love riding down the fairways on hoverboards.
GL: What are the challenges you have faced in establishing your business?
There are three different kinds of challenges I have faced in establishing my business - product challenges, dealing with uncertainty and loneliness.
When it comes to product challenges, there is a lack of awareness of this new mode mobility and resistance against innovation. Raising awareness is a battle.
Dealing with uncertainty is a huge issue. How long will your business exist? How profitable will your business be? Will the customers like your product? Will you be able to give yourself a steady flow of funds? Dealing with this volatility is one of the hardest parts of establishing a new venture. As an entrepreneur, I believe in funding my own venture and I do not believe in obtaining investments. Therefore, HoverRobotix is a self-funded startup and throughout it will always remain self-funded. I have never pitched the idea to the investors or to venture capitalists. I reached break-even in the first month itself, then bootstrapped the startup myself. Today, HoverRobotix is all set on a growth trajectory.
Lastly, loneliness is a factor as an entrepreneur. Being an entrepreneur is a singular position, so you won’t have teammates to rely on. You’ll be working long hours, so you won’t see your family as often. And your employees will be forced to remain at a bit of a distance.
GL: Do you believe that the ‘ease of doing business’ in India has improved?
MJ: The ease of doing business in India has improved a lot, but there is still room for improvement. So, I wouldn't necessarily classify it as an easy place to do business yet when compared with the international arena. But India is in the right direction to become a global business hub very soon. Compared to a few years ago, things have improved a lot; but to be a successful an entrepreneur you need to be consistent in in your efforts and struggle.
GL: What is the USP of your business?
MJ: Artificial Intelligence is our USP. So, what does artificial intelligence have to do with human race? Everything! Our lives are increasingly getting built around artificial intelligence. HoverRobotix got established with the vision of bringing the human race closer to the artificial intelligence of the robotics world, and by providing a sustainable future to the upcoming generation through a green mode of transportation i.e. “hoverboards”. The hoverboards from HoverRobotix are eco-friendly and run on “no cost”.
GL: What are some of the milestones of your business?
MJ: HoverRobotix is the official golfing mobility partner of Imperial Golf Estate designed by legendary champion Jack Nicklaus. HoverRobotix has been honoured & awarded by IIT (Indian Institute of Technology), NIT (National Institute of Technology), PU (Panjab University), CICU (Chamber of Industrial & Commercial Undertakings), and many more. With a total of 37 awards, this makes it the number one brand in India within its class.
GL: What role do you feel GlobalLinker plays in connecting & assisting SMEs?
MJ: I believe in GlobalLinker. I feel it is doing amazing work. I personally know how challenging it is to run an organisation; and GlobalLinker functions in multiple domains and that too for an incredible cause. GlobalLinker is undertaking numerous projects and activities for taking entrepreneurship to the next level, and I personally value that a lot. I appreciate the enormous effort put in by the team towards the advancement of SMEs and helping them create their brand in the market.
GL: What is your big business dream?
MJ: The big business dream is to spark a revolution that takes Hoverboards to the extent that it is used as a personal mobility tool by each Indian family. HoverRobotix is committed to provide an eco-friendly and sustainable alternative with its balancing electric robots, robobots, robotrons and hoverboards.
GL: What is your message to aspiring entrepreneurs?
MJ: One must be persistent, passionate and patient in your work. The only way to do great work is to do what you love and love what you do. Have a vision. While many people have business ideas, it’s important to have a long-term vision. Spend wisely. This is perhaps the most important piece of advice I can give you, as lack of funding is a primary barrier for young entrepreneurs looking to start a business.
Sacrifice, as working for yourself means fully embracing the concept of delayed gratification. We don't like to wait. We don't want to resist a smaller immediate reward today for a larger or more enduring reward years down the line. But that's not how business works. A good business is built over time (most take years, not just a few months). You have to be prepared to put in the time, effort, and money and to sacrifice your wants—whether it's updating your wardrobe, furnishing your house, splurging on a nice meals, or accepting those social invitations. Sacrifice doesn't feel good, but it is part of the journey. One should never be in a rush, be patience, and build your empire brick by brick; creating wonders take years, it does not happen overnight.
Last but not the least, we rise by uplifting others. So, do something for others for nothing in return.
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Posted byGlobalLinker Staff
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