It helps people organize knowledge at a personal level as well as collaboratively, save time spent on web research and to network for knowledge.”
“www.kreeo.com is our open web free platform for individuals and we offer the same technology to organizations along with related services as - Kreeo Enterprise.”
Sumeet also detailed how broad their scope of deployment is. Their open web solution can help build a global collective intelligence ecosystem dealing with issues like e-governance, climate change and other similar issues. Kreeo’s collective intelligence framework can be seamlessly extended to build business process improvement, customer interaction and other related ecosystems for academic institutions, government agencies and NGOs alike. He says “As we grow we will enable easy exchange and collaboration of knowledge inside and across ecosystems.
He also explained the concepts behind their business model saying “Conventionally technology companies have been either “enterprise products/service” or “consumer web” but today the lines are diminishing between the two models. Our business model by design is a combination of the two as it will enable us to extend higher value to our customers and enable us to deliver innovative knowledge solutions.”
“Besides the business model our technology, knowledge framework and delivery model are our key differentiators over competition.”
“While we develop critical mass on Kreeo open web, we sell “Kreeo” as an enterprise product with a host of services that customers can pick and choose. We also offer customized Kreeo solutions for unique business situations. To ensure scalability and organizational requirements, we also offer a pay per drink kind of model where organizations can pick up certain features depending on the need. An advertising revenue model for “Kreeo Open Web” is also in the offing.”
Yourstory was also let in on their expansion plans. Sumeet said “Near and medium term revenue focus remains on enterprise solutions and we plan to expand our reach through a global network of partnerships with organizations and business associates. We have developed the capability to install and maintain Kreeo enterprise implementations remotely and we can rollout Kreeo out-of-box within a week.” By 2010 Sumeet plans to “turn adversity to opportunity and establish “Kreeo” as a global brand and be self reliant.” The young entrepreneur has also won the Tenth Annual IBM Lotus Awards 2003-4 (formerly known as the Lotus Beacon Awards) for best Knowledge and Content Management Solution for a KM Portal and Collaboration Solution that he designed for Indian Oil.
The concepts/strategy are sound and so are his credentials but what about the human behind the machine? We asked Sumeet if he had any specific reason for choosing entrepreneurship, he replied “I always felt I needed something bigger to realize my full potential and that I wanted to make a larger difference. I always had the entrepreneurship bug and always knew I would be one someday, I tried many times and dropped it many times but finally made it and I pray it is for a lifetime.”
His biggest challenge was to create the technology with minimal fund/resources . To overcome that he first learned half a dozen new technologies and created a part of the technology himself, then mentored a few fresh engineers to create a team that could develop the rest of the product. Sumeet says “An error doesn’t become a mistake unless you refuse to correct it. Being an amateur you cannot avoid making errors, I always try to learn and evolve and keep moving forward towards the goal.”
He considers himself fortunate to have friends and family who showed faith in him. He raised his initial capital of INR 20 lacs from his father and a few friends. Sumeet explained the course they took after they came into business, he says “We just came out with our beta release in Jan 09 and started pitching it to various organizations. Since then despite the downturn we have been getting very encouraging responses from enterprise customers and are currently engaged in many implementations.In approx 3 months of sales effort we have been able to get a variety of customers that demonstrates multiple monetization possibilities of our technology.”
Sumeet also consider the versatility of the product to be his biggest trump card and achievement. He says “Kreeo has created enough buzz; we have been appreciated by people globally. Our entire footprint on web has been created by users and various media/bloggers who have covered us.”
Sumeet also believes in staying at the crease and playing through the toughest times. He believes in that and says “The one who gives up cannot be an entrepreneur. One of my mentors said this to me when I met him after taking the plunge Always believe that success is mandatory and do whatever it takes."
He has faith in his positive attitude, and bears a strong conviction that “Kreeo” is a viable business idea. He explains his goal in entrepreneurship saying “my passion is to create an Indian software product company that is exemplary.” He exhorts budding entrepreneurs with his own credo for success saying “Keep the market and customer in focus. Keep improving and evolving. Stay the course!”
We wish this talented young entrepreneur all the best and hope he takes the technology in India to new heights.