In what could be considered as a moment of immense pride for the state of Kerala and the entire Indian Startup ecosystem, Kerala-based hyperlocal e-commerce firm Buyfie is one of the 30 startups to be chosen from all around the world for the highly prestigious and popular acceleration programme, in2Korea, according to PTI.
Launched by the Korean government to lure foreign startups to the Asian country, In2Korea is run by Korea’s National IT Industry Promotion Agency (NIPA) and South Korea’s Ministry of Science and ICT (MSIT).
The selected startups don’t have to part away with any equity and are given mentorship, office space in a startup campus in Pangyo near Gangnam and assistance in obtaining a Korean Startup Visa as soon as possible.
According to the press release, Buyfie found a place in the chosen 30 because of its minimum viable product (MVP). Incorporated in 2016 as Axen Software Pvt Ltd in Technopark, Buyfie is a labour of hard work of three brothers, Praveen S S Pranav S S and Prabin S S.
Buyfie is an e-commerce company designed to become the market leader in online shopping from local stores. Considering the fact that even in today’s internet savvy age internet proliferation in local retailers daily business is very low, Buyfie founders created a solution to help out the local retailers.
The startup provides a complete e-commerce platform for local stores to sell their “products” means goods or services with payment gateway integration, customer care, logistics management (if needed), business analytics and digital marketing support. It is available on both web and mobile devices.
According to the startup’s website, they started Buyfie with a compelling Vision “To be India’s Largest hyper-local online e-commerce company reaching out to 75% of India’s population by 2020.” The website also reads that their ultimate aim is to enable rural India to access technology.
The Kerala-based startup is incubated under Startup Dreams, a social sector initiative by the Scheduled Castes Development Department in association with the Kerala Startup Mission.
in2Korea’s chosen 30 will get mentored by other entrepreneurs who have established and run businesses in South Korea. Additionally, they will also get a direct access to Korean legal, financial and human resources experts who can help startups incorporate their businesses in Korea.