Prashant Rana, Co-Founder at PraGaut Technologies
Great Companies: How did you get your idea or concept for the business?
Prashant Rana: Technology has always fascinated me as it has changed the way we look and experience the everyday. In hopes of contributing to this rapidly expanding world of technology and our constant interaction with industry people working in their respective fields that we realised the lacunas in the Indian market. It was through this deliberation that we realised the need to develop remote safety monitoring devices (Telecom), process automation systems (Automobile and Manufacturing), machine monitoring (Automobile and Manufacturing) and control that were cost effective and affordable for the customer, thereby, making technology accessible to a wider audience and creating a safe, secure and efficient work environment that is a just a click away. It was because of this approach that we have clients across diverse sectors.
Great Companies: What are the various Services provided by PraGaut Technologies
Prashant Rana: Web Development, Mobile Development and IoT
Great Companies: What makes PraGaut Technologies different from hundreds of other similar service providers?
Prashant Rana :
Our emphasis on the importance to invest in research and development sets us apart. Despite, the company finding it hard to make ends meet, we heavily invest in R&D because it is our firm belief that this is the way forward. Innovation is only possible with a strong inclination towards research as building something from scratch not only requires the ability to think out of the box and visualize, but also create synchronisation between software and hardware components.
Every year we spend around 15-20% of our revenue on research and development.
Great Companies: What are the struggles and challenges you face?
Prashant Rana: Development of products that are based on technological innovation require lot of effort and money. Understanding the core of technology and its implementation in the development of the product is a very difficult task and requires an ecosystem of support that we are missing. Paucity of funds is a major hindrance in making the product market ready and an obstacle in continuing research and development that is crucial for the technological growth.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for PraGaut Technologies?
Prashant Rana : For the future we hope to be more immersed in research and development for the innovation of technologies that make life hassle free by providing solutions for the day to day problems. We have built a software product for process automation in manufacturing companies, IoT based product for machine monitoring and control and prototypes of safety monitoring devices and Alexa based home automation system. From here, 5 years down the line we strive to increase our range and reach of both products and clients, aiming to finally capitalize on the market.
Currently we are present in two cities and we are expanding our network to outside India as the products we have developed or developing can be implemented globally.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
Prashant Rana: Invest in technology and use it to solve problem.