Pranay Prem, Co-Founder, IRET. Photo: Gitanjali DiwakarIf you wish to become the next Brad Delson, Richie Sambora or Rex Vijayan, then here is your chance to buy your very own indigenous stompbox or pedal.
IRET , a Kochi based startup has ventured out into the movie music accessories and services. The company manufactures stompbox, popularly used by those who play the electric guitar. A startup company that had commenced operations in 2011, IRET has now gained popularity across the Indian market. It is also referred to as Indian’s first Acoustic Technology startup.
What are stompboxes?
Pranay talks about the stompbox and of the various products of IRET. Video: Gitanjali Diwakar
Tracing the tale
The firm is co-founded by three friends from college – Pranay Prem, Rethin Sylvester and Ashwin. The trio had graduated from the Toc H College of Engineering in 2013. Soon after, Pranay and Ashwin had begun working in reputed firms, while Rethin remained hopeful about the job scenario. Rethin, who is also a guitarist, wanted to make a stompbox and make a living doing so.
The team at IRET (left to right) Sreelal Raghunathan (Marketing Head), Ashwin A.M (COO), Pranay Prem (CFO), Collins Samuel (Industrial design) and Rethin Silvester (CEO).At first Pranay seemed hesitant and so was Ashwin. "I was hesitant at first, as I have no prior experience running a business. Besides, I was working at a reputed firm too," said Pranay. It was not long before everything had 'just happened.'
Having specialised in the field of Electronics and Communication, the team of IRET were able to put together the component of India's first indigenous stompbox. The team currently function from a manufacturing unit situated in Kalamassery and have several orders for the product from across the country including north-east India. At present, there are 10 employees at the firm including the three co-founders. They have also expanded their business to Bangalore and will gradually do so in Chennai as well.
What is unique about the IRET stompbox?
The product has been tested by many reputed guitarists in India. In comparison to those manufactured abroad, experts say that this product is as effective if not better than those manufactured abroad. The USP (Unique Selling Point) of the product however is the price. While most stompboxes are sold at a starting price of approximately Rs. 9000, the IRET stompboxes vary from Rs. 3000-Rs. 4000. The product is also available online on Amazon and Snapdeal.
IRET sells nine varieties of stompboxes. Of which, Absolution is the most popular of the lot. Absolution is an overdrive stompbox, i.e it helps to produce 'clean sounds' at a moderate volume. They also produce a variety of distortion pedals too. These pedals help in the creation of distorted sounds at higher volumes.
The scope of the product in Kerala
Co-Founder Pranay Prem said that this product has a lot of scope in the Kerala market. "Every college in the state has band. This product does appear to have a lot of scope," said Pranay.
The company has entered the online market as well and have tied up with online retailers like Amazon and Snapdeal. IRET's facebook page has helped the firm to expand their clientale to a large extent as well.
The experience with StartUp Village
As the Co-founder of the company, Pranay seems rather delighted with the experience so far. He said that the startup village has been very supportive of their business. IRET had, as a matter of fact, been allotted a sum of money of three lakhs by the StartUp Village during the initial stages of their establishment.
Of which, Rs. 1 lakh was used to set up their manufacturing unit in Kalamassery. "I am actually applying all that I have learnt. Whereas, most of my friends are stuck in front of their computers doing the most monotonous tasks. I, on the other hand, am applying all that I have learnt, running my own business and I am happy."
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