The catch is that those applying have to pay extra if they want the convenience of the online route. Most institutions charge for the paper application forms they distribute; the portal charges an additional 4.9 per cent - or Rs 30 whichever is higher - per form filled online.
...Anil Joshi at venture capital firm Mumbai Angels, however, points out that Shah's business model has no intellectual property attached to the product and can be easily copied by competitors. Shah believes the institutions he has signed on will not leave him in a hurry. "Getting them to even listen to you is difficult," he says. "Once I am already in with a free product, it will be five times tougher for someone to replace me."
NoPaperForms is also working on a business-to-consumer platform to engage Facebook-savvy students and spread its brand virally. This platform will let students post updates and share information. If the model scales, as Shah expects it to, the possibilities for it are endless.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at email@example.com