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Eyes AI, blockchain and virtual reality areas to scale up
Experiential marketing firm NeoNiche Integrated Solutions Pvt. Ltd. has initiated dialogues to partner with new technology start-ups working in the fields of machine learning, artificial intelligence (AI), blockchain and virtual reality to scale up to the next level in its field, according to a top executive. “The future lies with machine learning, artificial intelligence, blockchain and virtual reality,” said Prateek N Kumar, managing director and CEO, NeoNiche Integrated Solutions.
“We clearly see the trend and are scouting for partnerships with start-ups working in these areas,” said Mr. Kumar. “In the next three years, start-ups working in these fields will make a vast difference. A decade ago, there were Tesla, Facebook and Google and the next big start-ups will come from the emerging fields. And our tie-ups will help us to scale up globally and serve our clients better,” Mr. Kumar said. Most of the start-ups working in this area are based out of Germany and the U.S, according to him.
Technology, support
“We are expecting two benefits from the partnerships,” he said. “Firstly, we can gain in terms of technology to have an edge over competitors and as and when these firms enter India, we would provide them marketing support,” said Mr. Kumar.
In the last five years, NeoNiche has been assisting or has assisted more than 100 start-ups in their marketing through a cost-plus profit-sharing arrangement.
“Capital is precious for start-ups and they lack in marketing skills. So, we have been supporting them through our unique billing mechanism. We charge the marketing cost and only if they make profit, we take a part of that,” he said.
“Today, 30% of our revenue comes from start-ups and this ratio is expected to grow to 50% in the next three years when we project a billing revenue of ₹100 crore by 2020 as compared to ₹55 crore in FY18,” Mr. Kumar added.
Started in 2011, the company is already serving 130 large brands, including Google, Amazon, Siemens, Nokia and Gartner in their marketing initiatives. It provides a complete range of marketing services through digital initiatives, contact programmes, activation plans, events and exhibitions. All these are part of experiential marketing, a comparatively new marketing tool that directly engage consumers and encourages them to participate in the brand’s evolution process.