“Vending in India”
Vending machines have never really been all the rage in our country, despite the obvious advantages of such a system. Srinivas Mahesh Reddy believes that the time ripe is for India to embrace the vending machine. His faith in the automated dispenser has led him to pursue its realization through entrepreneurship.
Niriha Security Systems has been promoted by the patent holder Srinivas Mahesh Reddy who says “The Tamper proof vending system proposed here is equipped with the latest state-of the-art electronic circuitry to ensure Maximum Security towards the product being dispensed by using this system, hence protecting the interests of both the vendor and the consumer as well. This unit provides Security to consumer, distributor, and the environment.”
The purpose was not just to bring automated dispenser to the Indian mainstream but “To provide an alternate to water pouches market, (which were banned but is now continuing because of a stay in courts of law) and to stop adulteration in coffee, tea vending machines. This product benefits all commuters, daily wage earners, schools, hospitals etc… This product touches almost all walks of life and helps in conserving energy indirectly
Srinivas speaks of the merits of his machine saying “At present there is no vending system, which works on security for quality, hence no competition on the same lines. But we will have competition with the existing un-organized or organized water sachet manufacturers on the price front. We are interested in giving franchises or technology transfers to existing water bottlers with a royalty of rupee one on every can they sell plus a technology transfer fee. If it’s franchising we will be manufacturing the hardware in house and installing them which shall generate revenue.”
His plans currently require bit of a financial push and Srinivas confesses that he is “Looking for seed capital, angel funds for an equity stake to showcase the product in one district and take it up slowly to a nationwide stage by developing a franchise model.”
Srinivas has had to overcome a barrage of adversity. He recalls his problem of “Getting the product developed in electronic field and sourcing funds for research and development.”
Srinivas says he eventually overcame this “By extensive research in my required field (image processing and optical character recognition) and also avoiding the reflection and refraction of source illumination on object. I have mobilized my own funds to complete the product development stage.”
Srinivas was distraught to realize that his funds were not sufficient, and was crestfallen. He regrets “Believing that I can finish product with the initial staff and hoping funds will last for market launch.”
Undaunted Srinivas carried on and was rewarded for his faith, when a friend gave his idea a timely financial infusion. He owes his tenacity to the “Zeal to prove that I am a winner.”
Srinivas and his idea have but begun to flourish. When we see vending machines in India in a big way we shall all know whose hard work has made it possible. Yourstory wishes Srinivas luck with his venture, and prays that his vending machines will see the light of day.
Srinivas eloquently advises those willing to dream and dare saying “The road to entrepreneurship is tough with disappointments in every corner, but once you stay with it you can see the light in others eyes and the fruits of your tough times”