Business Description:Invention of wheel? revolutionized the way we live! We, at MiSTiC, are set to revolutionize the way Information & collaborative Applications, contemporary drivers of human life, are developed. Even business applications of today are too rigid and inflexible to adapt to ever-changing needs of the business customers? and we are set to change that too!
MiSTiC?s innovations, two technology platforms iPower & WiSA, are set to revolutionize the way we all develop informative, collaborative, and business applications? essentially the today?s web? web 2.0. Endless possibilities? collaborative development, open-source business application development, customized application development, personalization, using Desktop, Web, and Smart Phones!
Currently MiSTiC has created its niche in consulting, packaged solution implementation and software application as Subscription service (SaaS) for the MSME and Large enterprise segments on its own strengths. MiSTiC is in process of expansion through a channel partner program. MiSTiC has customers across the enterprise segments including HDFC Ltd, Welspun Retail, and Tips Industries among others.
Industry:IT/ Internet/ Software
Founded in:2006
Source of idea:
Significant Competitors:SAP, Oracle Applications, Ramco Applications, all enterprise information solution providers
Company Details :
Company Name:MiSTiC Solutions
HeadQuarters:Mumbai
Stage of the company:Several customers or locations
No of Employees (2006):0-5
No of Employees (2007):6-15
Office Locations(2006):0-1
Office Locations(2007):2-5
No of companies promoted:Yes (2)
Profits (2006):1 to 5 lacs
Profits (2007):1 to 5 lacs
>Partnerships:Have a channel partner association with Rincon, Development memberships with Sun and MiSTiC's own channel partner network is under establishment.
Initial Funding:Personal savings
Addl Funding:Personal credit cards
Institutitional Capital:No
Revneue Model:MiSTiC has build solutions on the RADiX platforms ? e.g. Stationery Management Solution for HDFC Ltd, ERP for Tips, Retail Portal for Welspun and many such projects for small, medium and large enterprises. These have been steadily increasing the shares as the two technology platforms have matured and stabilized. We have also developed middleware solution for banks like HDFC, ICICI, Centurion Bank of Punjab for interfacing with CIBIL server for credit verification of loan applications, like 2 wheelers, personal etc.
MiSTiC now has a suite of products being sold off the shelf or as hosted subscription models to enterprise customers which we plan to sell through a channel partner network that has already started generating business for MiSTiC. The choices we offer to our customers are varied and completely customized to meet individual demands of business and commercial requirements.
Revenue options are manifold - Packaged Software Development & Implementation, Channel Partner associations for Product Sales and Implementation Consulting, Technology transfers/licensing and Software as subscriptions, Startup Incubations in the form of ITeS Management, and collaborative Open-source initiative to promote the platform at the same time passing on the benefit to the community and society.
Awards & honors:Presented the concept at Sun PCQuest conference meet in 2006, shortlisted among many contenders.
Promoters Details :
Promoters Name(s):Shirish Chitte
Age:33
HomeTown:Mumbai
Education:Masters
No of companies promoted:Yes (2)
Family Background:First gen entrepreneur
Job:Proprietor at MiSTiC Inc
Ex-Job Description:Management, Consulting
Favorite Book/Movie:Fountainhead/Atlas Shrugged
