innovations
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State of Innovation in India: 2009
A year ago, I wrote about the State of Innovation in India, keying off an article I had written 10 years previously. Rather than wait another 10 years, ReadWriteWeb has decided to make this an annual review. This time, we have restricted ourselves to web technology. We are looking for breakout innovation, companies creating and getting traction with technology that will change and create markets.
Cashnxt: Low-Cost Banking for the Rural Poor
A couple of entrepreneurs out of Kerala, India, are re-envisioning the way that banking is done. Anish Achuthan (26) and Rameena Rabeedin (28), have developed a branchless network consisting of low-cost ATMs, Smart Teller Machines, E-POS terminals, and a mobile banking gateway that lets you perform transactions using your cell phone. The end result of their efforts brings modern banking technologies to semi-urban and rural markets where traditional banks are unwilling or unable to set up ATMs.
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