Binoy Prabhakar: Dad, Editor & Aviation Geek
A new platform focused solely on the Indian aviation industry? With a population over a billion and a non-stop domestic travel market, the demand to deliver timely and actionable information on the aviation sector is evident. From the executive suite to the rural traveler, a new B2B as well as consumer platform could be the next niche news start-up to emerge from India.
Armed with this idea and a dream, Binoy Prabhakar is now part of a select cohort of journalists and budding entrepreneurs immersed in a one-semester intensive studying journalism and building out their respective ventures.
After nearly two decades in financial journalism, Binoy is seeking change. Not necessarily a change of career, but a change in skill set. A native of Kerala, India, the young father has found his way to New York City as a Tow-Knight Fellow, based at CUNY’s Graduate School of Journalism.
Being based in New Delhi as a senior editor with The Economic Times, India’s largest and most circulated daily business newspaper, Binoy has covered general business, politics and aviation for more than 16 years. Having built an expansive network and relationships with the global players in the aviation industry, both in and outside of India, he is now hoping to launch a new digital platform dedicated solely to India’s burgeoning aviation industry.
“I am essentially looking to create a niche news portal devoted to Indian aviation sector,” he said in an interview. “It will be packed with news, information, data and trends.”
Binoy believes the future of journalism will be about how publications provide “utility and value” to readers. “It won’t be just news and information, he explains. “There is a glut of that.”
So his venture will look to serve a niche audience, but a large one at that thanks to the existence of the flying public, aviation professionals, enthusiasts, airlines, private jets etc, that has been largely underserved by the mainstream media.
So just how big is India’s aviation sector? The emerging market topped nearly 100 million domestic passengers flown in 2016 and India’ largest airline has ordered a record 400 new A-320’s (a narrow-body planes for short-haul flights). In addition, India is slated is be the third largest aviation market in the world by 2020. So the long-view story aside, Binoy has discovered a very niche and specific opportunity that not only serves the sector, but the traveling public. Indian aviation’s growth potential is huge and with this in mind, his idea, dubbed “REDE” was born. And New York City is where he intends to nurture it.
“It’s important to keep learning,” he explains. “I work in print journalism and know I really need to build on my digital skills. Not just for my new venture, but for the day-to-day work. Journalism had changed a lot and I am really seeking to develop a new foundation in digital.”
He sees New York City as fertile ground to test, prototype and even launch an idea. With his wife and daughter back home, his semester abroad is one he hopes to capitalize on in every way possible. From learning new trends in journalism, fine-tuning his idea and gaining a more solid understanding of basic entrepreneurship skills, Binoy is ready to embrace the city and all it has to offer. “This city is the perfect place to talk out loud about an idea. The energy here is inspiring and of course the learning experience can’t be beat.”
As a Tow-Knight Fellow, Binoy has hopes of being exposed to new journalism tools, networking within the digital ecosphere in the city and gauging initial feedback on his “idea”. As a journalist immersed in one specific area and sector, he feels a strong need to broaden his scope along with his skills set. Basic business tools are key for him, he says.
“As a senior editor working on one thing most of the time, I see value in getting fresh perspectives and learning new things. I of course want my new venture to succeed, so listening and learning will be important as I forge this new path.”
