NoPaperForms.com NoPaperForms.com Executive Summary eCell Eureka 2010 Describe precisely your product/service/Intellectual property license/process etc. NoPaperForms.

.com is Indias 1st GreenTech startup that offers academic institutions a sustainable alternative for their admissions thus allowing them to completely eliminate paper applications. With our ondemand enrollment management solution, schools and colleges can dynamically create admission forms, publish online and instantly start receiving applications electronically - all in less than 15 minutes, at no cost, without ever calling us and with just a little more complexity than setting up an email account! What are the key benefits that your product/service provides, to address the customer's problem/challenge? We solve the problems of two broad categories of consumers: 1. Academic Institutions: We significantly ease the logistical and financial burden imposed by paperbased admissions - designing and printing thousands of paper forms, distribution, collection, sorting, mailing, data entry etc - and help achieve greater transparency. 2. Applicants: We simplify the job of an applicant who struggles in long queues just to buy or turn in an application form by providing them an easy-to-use online application. How is your product or service different from existing solutions and mention the factor which give you competitive advantage over the rest? Our unfair advantage is that we are truly on-demand. We are to admissions what salesforce.com is to CRM. Not only does the school never have to install any software or hardware but they can also do it themselves without ever calling us. They can sign-up online, follow the simple step-by-step process to create their application form online, setup a payment mechanism using our integrated online payment gateway, publish the form to our cloud server, and, presto, they are ready to start receiving online applications in under 15 minutes! Market Analysis: What is the market in which your company will operate? We will operate purely within academia. Prospective adopters include all academic institutions - schools, colleges, universities, vocational institutions, tutorials and other academic bodies that engage in recruiting students each year via a standard application process. End-users will also include the broad set of applicants including college applicants and parents applying to kindergartens for their toddlers. Identify the segment of the market you can serve or you plan to serve in future. Given India's still growing internet penetration rates, our current target segment includes privately-funded institutions offering primary, secondary and higher education with grassroots-level IT maturity. Our indepth market segmentation analysis revealed that there are roughly 100,000 such institutions across India with a large majority being K-12 schools. The most exciting part is that our market is consistently expanding as more and more institutions are becoming IT-savvy. India has 1million+ schools with over 250

NoPaperForms.com million children enrolled. In the future, we expect to become the market leader in enabling online admissions at institutions across India. Describe the growth rate and recent trends of your market that may represent disruptive changes or opportunities for new players like you? We conducted a recent poll on LinkedIn to gauge the growing interest among schools and colleges to adopt online admissions of the 160 respondents, 95% stated that they were very likely to convert. Their reasons for not converting yet were lack of quality solution providers and high costs. According to a 2008 Goldman Sachs report, the National Knowledge Commission has proposed to quadruple the number of universities by 2016 and increase the number of students educated at the university level from 7% to15%. Around 2.5 million graduates emerge each year from just universities and colleges across India. This indicates the large volume of applications being filed throughout most of urban India. Of the 1 million+ schools, < 1% has adopted online admissions leaving a huge untapped market. Who are your potential and current, direct and indirect competitors in market? NoPaperForms.com does not face any direct competition in the on-demand enrollment management space. However, we could experience indirect competition from companies operating within the broader education vertical. However, most organized players are focused on heavy-set B2B products either in eLearning or integrated campus automation. With our focus on a B2C-marketing methodology, we expect to rapidly solidify our position as a free on-demand online admissions enabler for schools and colleges. How do you anticipate established companies reacting to the introduction of your product/service? Fortunately, there are very few established companies operating in the education vertical. Among those, the focus is on eLearning. As such, we dont expect a serious counter-reaction. At best, we may see a duplication of our model once it has been proven. We believe that with proper planning, we can easily consolidate our position by acquiring most of the early adopters before competitors enter the market. State the entry and exit barriers of your market? Given that this is a software innovation that is difficult to patent, we do not have IP-protection. The greatest entry barrier here is the high switching cost (for schools) to adopt another solution provider. Thus, sustaining our first-mover advantage is the key to discourage future competition. By executing a wellplanned marketing strategy, we plan to solidify our position by capturing a large chunk of the market before competitors can react. Customer Analysis Who is the potential customer/consumer of your product/service? Describe the profile of your first customer. Prospective adopters include all academic institutions - schools, colleges, universities, vocational institutions, tutorials and other academic bodies that engage in recruiting students each year via a standard application process. End-users will also include the broad set of applicants including college applicants and parents applying to kindergartens for their toddlers.

NoPaperForms.com We have three beta customers St. Xaviers College (Mumbai), T.A. Pai Management Institute (Manipal), and Institute for Technology and Management (ITM). Further, we have built a focus group of 15 institutions across India that have partnered with us to help build and test the system. This includes notable universities such as IGNOU (New Delhi) and Ecole Hoteliere (Lavasa). Where are your target customers located? While our customers are dispersed across India, our initial target customers are located in Tier 1 and Tier 2 cities. How will you reach your customers? State all the methods of your Sales Strategy. We have initiated a phased-marketing approach using creative and low-cost marketing strategies. In phase-I, we intend to source customers that are typically early adopters who are active on the internet using what we call inbound marketing. This includes a combination of search-engine marketing, social media, content-based marketing and public relations. Further, we are planning to partner with various affiliates across India to promote internet banner ads on leading websites to attract these early adopters. We do not expect to engage in direct or interruptive sales, instead, creating awareness and attracting prospective adopters to us. This would lead to a low acquisition costs and higher conversion rates. Business System Description How will the product/service be developed (possible plan to build the product or implementing the service to check the feasibility option), manufactured, marketed and sold? The product has already been developed and is being tested by our focus group institutions. So far, we have received an average rating of 4.5 / 5 stars from these schools. We expect to go live on November 1 st and will continually revise and add newer features to engage our customers. Through market research, polls and initial brand awareness activities, we have identified 68 schools and colleges that are very likely to convert before the end of this year. We will primarily use inbound marketing methods to attract and retain early adopters after which we will gradually move toward a mix of print and non-conventional advertising options. How will your business generate profit? Describe your Revenue Mechanism? Though we are setup on the premise of social entrepreneurship and are giving it away free to schools/colleges, we still are very much a for-profit startup. We will make money in the following ways: 1. Processing Fee: Every student who applies online to our partner institutions will pay a small online surcharge. A part of that fee will go to the payment gateway and the rest will be our revenue. 2. Advertisements: We have identified some very creative ways to allow companies to advertise to the student population. For instance, every application form will require a CAPTCHA code that the student has to fill in before submitting. Instead of garbage words, we will actually display 1 to 3 word ad that the student has to type into the box. What better recall, the company actually gets to have the student enter

NoPaperForms.com their name in the box! This is just an example of our non-obtrusive advertising strategy, and will carry a premium price tag for companies looking to partner with us for the obvious reasons. Does your business create measurable social and/or environmental benefits? If possible quantify these benefits. Describe how this will add value to your business proposition. Our startup was founded on a social premise sustainable admissions. By encouraging more and more schools to go online, we are reducing the use of paper. Our first customer, St. Xaviers College, has now gone 100% online eliminating printing nearly 20,000 paper applications this can have a huge environmental impact when explosively adopted across schools in India. We take this a few steps forward by getting Green-Certified where we offset the carbon emissions from our servers by purchasing renewable energy credits. Summarize projections for revenue, cost and return on investment (RoI projections). We have projected revenues of Rs. 2 crores in the first year of operations, increasing annually at over 100% given that we operate on a subscription model. Costs are expected to remain fairly stable at around Rs. 50 lakhs annually until we scale-up our marketing efforts. Our projections indicate a broad range of 5x-10x return for investors looking to exit within a span of 3 to 5 years. What are your major short-term goals? We plan to continue expanding our customer base and work alongside partner institutions to continually revise and refine our product so it better satisfies customer needs. Finance Analysis How much capital do you require for starting up? How do you plan to obtain it? Describe both external as well as internal sources. We have been operational for a few months now and are ready to launch the first version of our product on November 1st. Start-up operating capital is estimated at Rs. 50 lakhs annually and we have raised approximately Rs. 1 crore from angel investors. We expect to self-sustain on cash-flows as early as 2012. However, additional capital infusion will be required mid-2012 to expand our geographic foot-print and escalate marketing efforts to capture larger market share. What is the expected average cost of sales to sell your product? Since we operate on an on-demand model, we have zero marginal costs. As such, our cost of sales is mainly server-related and is expected to fairly negligible in the broad scale of operations. What are your major out-of-pocket expenses? How much do you estimate these will be for years 1-3? Marketing and salaries are greatest out-of-pocket expenses at this time. We have a team of 13 employees to sustain and expect total operating expenses at Rs. 50 lakhs annually in the first year. What else do you want from prospective investors? Whats the strategy for providing the return to the investor?

NoPaperForms.com We seek Series A round of capital to expand our marketing efforts and reach a broader audience. The return to the investors will be in Class B Preferred Stock and expected to be in the same order of scaling. Team Give details of your team members, their roles, special qualifications and experience relevant to the business plan. Vishal B. Shah, CEO & Founder MBA (Cornell University), Certified Public Accountant Vishal started his career at Deloitte & Touch in its Atlanta office and led numerous engagements in the IT/Telecom industry for several years. Prior to founding NoPaperForms.com, he led the information systems/forensic audit team at CompuCredit Corporation. Nitesh Damani, Co-Founder & Angel Investor FMB (S.P. Jain) Nitesh is a Director at Sugal & Damani Group, a multi-million dollar conglomerate with its flagship operations in the Lotteries & Gaming industry. He is responsible for the group's lottery business in Western India and is the lead investor in NoPaperForms.com. Ami Damani, VP Sales & Customer Happiness MBA, BA (Economics) Ami has extensive experience in sales, marketing and relationship management. Her portfolio spans corporations such as American Express and HDFC Bank where she led client relations and business development teams. Manish Suvarna, VP - Web Application Development B.Sc., Computer Science Manish has over 10 years of experience leading diverse web-development projects for global clients including startups and mid-size businesses. In his immediate role prior to joining NoPaperForms, Manish was involved in establishing a development center in Pondicherry and grew it from a team of 2 to 60 developers while efficiently managing development projects. Describe any team gaps or openings that you would like to fill in your team. We would want to have a Chief Operating Officer and a VP in Marketing. While we have a strong 13member team of developers, marketers and creative designers, a dynamic technologically-driven person would be a great addition to help us scale-up operations. Further, an experienced marketing head would help us boost our branding efforts.