Helping India accelerate towards transforming
the economic pyramid into an economic diamond.
Innomon business model is to create a core set of portfolio of intellectual properties that can be used as the building blocks of a startup idea. We at present focus on Blockchain Technology.
We co-create the MVP (Minimum Viable Product) leveraging upon our core IP (Intellectual Property)
building blocks. The startup has the option to buy back the IPR (Intellectual Property Rights)
of the MVP at a pre-negotiated rates or assign us a fixed percentage of shares in lieu
Till the time the startup does not buy back the MVP, it pays us a “rent” on the property on per transaction or revenue share basis.
To comply with the Indian laws, we have created a LLP (Limited Liability Partnership). We have created an innovative model for the partners to have a vote on how the IPR are created. Below are the excerpts from the LLP agreement.
The Profit sharing ratio of the incoming partner will be in computed through a Ricardian Smart Contract as defined in Ricardian.org. There will be multiple Ricardian Smart Contracts, corresponding to the Intellectual Property Development and Management pools. The partners can choose to place their contribution in any of these Intellectual Property Development and Management pools, (hereby IPR Pools). Each such IPR Pools will have separate accounts organized as Business Units. The partners share will be proportionate to his contribution towards the IPR Pools.
All the partners hereto shall have the rights, title and interest in all the assets and properties in the proportion of their Contribution into the individual IPR Pools.
Our vision is to create sustainable enterprises that have a potential to transform the economic pyramid into a diamond shape economy.
Blockchain Technology is also called Internet of Value. It empowers two or more entities to transact over the Internet, without a need for an intermediary.
In the coming next two decades, blockchain will be as ubiquitous as Internet today. Business models of the marketplace aggregators like Amazon, eBay, Flipkart, OLA, Uber, AirBnB will be obsoleted. Capital aggregators like Investment Bankers and Venture Capital Funds will also become redundant. A truly sharing economy will take these aggregators’ place.
The wealth distribution will be more fair and middlemen NOT adding value will be defunct.Thus as
India is approaching a Digitally empowered society, Blockchain technology can greatly help
transform the Indian economic Pyramid into a Diamond shaped economy.
As per Hans Rosling’s statistical analysis India’s GDP will overtake that of USA in the mid of the year 2048.
Innomon business model arose from our startup mentoring at government funded incubators and early stage investing experience.
At one end of the spectrum we saw the incubators loose as many idea stage startups walked away with the IP (Intellectual Property), destroying the seed money received from the incubator funds.
On the other end, there were entrepreneurs who build successful businesses ended up having 1% equity in the very company they built. This phenomenon is also sometimes interpreted as one of the symptoms of the “Digital Colonization” in the startup world.
So, while we wanted to invest in pre-idea and idea stage startups, we did not wish to be
victims of the runaway founders; nor did we wanted the founders to end up with less that 51%
at the point of our exit.
Thus we innovated our monetization model, described above.
Innomon was incorporated in India, under the Indian Limited Liability Partnership Act, 2008 on
10-Aug-2017; with designated partners as Ashish Banerjee and Sanjeev Singh.
MCA LLP ID: AAK-2856
Ashish Banerjee is a hands on programmer with 30+ software industry experience. He served at
Oracle and Sun Microsystems for 9 years. At Oracle he was Director at the STAr (Solutions &
Technology Architecture) team responsible for IoT (Internet of Thing) across Asia and Pacific.
He has 19+ years of entrepreneurship experience.
He mentors startups at JSS STEP Incubator and IIM Lucknow Incubator
Sanjeev Singh is a veteran entrepreneur and an enthusiastic agriculturist. He started his first venture in early 1980's, braving the license Raj, setting up India's first carbonless printing press. He loves to travel off road into hills and deserts.
Rahul has 20+ years of experience in Sales and Marketing with record of significant accomplishments and contributions. He has extensive experience of Solution Sales and major Account management with organisations like GTL, Orange Business Services, Oracle and SAP. Rahul is also a Ph D in management sciences.