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Decoding the rise of Startup acquisition by Corporates

In recent years, an increasing number of large corporations have been buying out successful startups instead of attempting to replicate their success. So, why are corporations opting for acquisitions rather than innovating from scratch? Let’s dive deep into the key factors driving this trend and explore how startups have been able to achieve remarkable success, often faster than their corporate counterparts.

A prime example of startup success is Minimalist, a Jaipur-based premium beauty brand that built a Rs. 100 Crore business in just 8 months, which has influenced Hindustan Unilever’s decision to acquire the startup. This kind of growth in such a short span is a feat that even well-established, resource-rich corporations often find difficult to replicate. But why is this the case? Let’s break it down.

Agility over Complexity

Corporates, with their layers of management, red tape and complex processes, often find it difficult to move quickly. In contrast, startups benefit from their lean and flexible structures, which allow them to pivot, innovate and execute faster.

Startups, by design, have less bureaucracy and can make rapid decisions. Corporates buying startups gain access to this agility, which can help them overcome the delays caused by their more complex internal systems.

When Walmart looked to establish its foothold in the Indian e-commerce market, it decided to speed up the process by acquiring Flipkart, arguably, the country’s largest e-commerce startup. Flipkart’s agile, tech-driven approach enabled Walmart to penetrate quickly into the Indian market and compete quickly with giants like Amazon.

Founder’s Passion

The passion and drive of startup founders are often key to their success. Unlike large corporations where leadership is more divided and often disconnected from day-to-day operations, founders of startups are deeply involved in every aspect of their business. This unyielding commitment to their vision often drives the innovation and growth that sets them apart.

When Steve Jobs returned to Apple in 1997, the company was on the verge of bankruptcy. His return marked the beginning of a transformation powered by his passion for innovation. Jobs’ relentless focus on design and user experience led to the creation of revolutionary products like the iPod, iPhone and iPad. Apple’s success, driven by Jobs’ vision, is a prime example of how a founder’s passion can turn a struggling company into the world’s most valuable brand.

For corporations, acquiring startups with passionate, visionary founders gives them the opportunity to tap into the passion of the founders, which is difficult to cultivate from within.

Mission-Centric Focus

Startups are often driven by a single, clear mission that guides every decision they make. Unlike large corporations, where multiple divisions may have competing priorities, startups are united by the founder’s vision. This stringent focus enables them to remain nimble and fast-moving, which helps them outpace their larger competitors in areas like product development, customer service, and innovation.

Tesla, under Elon Musk’s leadership, is a perfect example of a mission-driven startup. Musk’s vision of creating sustainable energy solutions has been at the core of Tesla’s rapid growth. While other automakers were slow to embrace electric vehicles, Tesla was focused on one goal: revolutionising transportation through innovation in electric cars. This clear, singular mission has made Tesla the leader in electric vehicles, while traditional car manufacturers struggle to catch up.

When a corporation acquires a startup with a strong, clear mission, it gains the ability to drive faster innovation and maintain a laser-sharp focus on its goals.

Team & Motivation

Startups build strong, motivated teams that are deeply committed to the company’s mission and vision. By hiring intelligent and passionate individuals and often offering them ownership through Employee Stock Ownership Plans (ESOPs), startups create a sense of ownership and responsibility that drives employees to work harder and smarter.

In its early days, Google faced the challenge of competing with well-established tech giants to attract and retain top talent. To address this, the company introduced ESOPs, ensuring that employees had a vested interest in Google’s long-term success. Unlike traditional corporate structures, Google fostered a flat hierarchy, empowering even junior employees to take ownership of major projects and contribute meaningfully. One of its most famous policies, the “20% time” policy, encouraged employees to dedicate a portion of their work hours to passion projects, leading to groundbreaking innovations like Gmail, AdSense, and Google Maps. Further, fostering a transparent culture, founders Larry Page and Sergey Brin conducted weekly TGIF meetings, where they openly discussed company progress and future plans, reinforcing trust and alignment among employees. These strategies created a highly motivated, innovation-driven workforce, transforming Google into one of the most influential companies in history.

Corporates, on the other hand, may struggle with employee motivation, especially in large, hierarchical environments where individuals may feel disconnected from the broader mission. By acquiring startups, corporations gain access to highly motivated teams who are often more passionate and driven than employees at larger companies.

Startups are thriving not just because of their innovative ideas, but because they embody the values of agility, passion and mission-focus—qualities that are often difficult for larger corporations to replicate. For corporations, buying out successful startups isn’t just about acquiring products—it’s about gaining access to a culture of innovation, flexibility and passion. So, is buying a startup the shortcut to staying ahead in today’s fast-paced market? It seems that for many corporations, this is the most effective way to maintain competitiveness and drive the kind of innovation that the market demands.

Cracking the Winning D2C Formula: Lessons from India’s Favourite D2C Brands

The Direct-to-Consumer (D2C) model has transformed the retail industry, enabling brands to connect directly with consumers. It has allowed companies to retain control over manufacturing, marketing and distribution, making them more agile and responsive to evolving market trends. The popularity of D2C brands stems from factors like advancements in digital infrastructure, shifts in consumer preferences and the appeal of personalised shopping experiences. Companies like Bombay Shaving Company, boat and Sugar Cosmetics, to name a few, have effectively leveraged this trend to rule the Indian market.

Despite these advantages, D2C brands face notable challenges. The market’s intense competition requires brands to stand out through unique offerings and memorable customer experiences. Supply chain management poses another hurdle, particularly for smaller brands struggling with logistics and inventory. Additionally, in the absence of a built-in audience like established retailers, D2C brands often need to spend more on marketing and advertising to build brand awareness and acquire customers. Overcoming these obstacles requires strategic planning and innovative solutions to sustain and forge growth in a rather crowded marketplace.

In order to succeed, D2C brands must take a holistic approach—one that integrates smart marketing strategies, a data-driven approach and strategic partnerships, among others. In the following sections, we explore key solutions that can enable D2C brands to overcome challenges and succeed in a rapidly evolving market, citing a few strategic decisions that have helped leading brands establish their dominance in the D2C space.

 

Differentiation and Storytelling

D2C brands must offer unique products that resonate with their target audience in a crowded market. Clearly defining and communicating the unique value proposition, whether in materials, product design or cause, are extremely important. A meticulously crafted story incorporating the company’s well-defined values, unique origins and USPs can set a D2C brand apart from the rest.

A prime example of a D2C brand excelling in this area is Paper Boat. Known as, arguably, India’s first commercial traditional drinks brand, Paper Boat jostled its way into the crowded FMCG space to emerge as a leader in the non-alcoholic beverage segment by dint of its unique value proposition that combines the charm and purity of traditional Indian drinks with the convenience of modern packaging. Its iconic brand narrative has created a legacy that instantly strikes a chord with consumers, evoking a strong sense of nostalgia around traditional Indian drinks. At the core of its storytelling is the emphasis on “Indian roots” and “authenticity.” The brand’s narrative revolves around bringing back forgotten recipes from across India, making the drinks a way for consumers to reconnect with their heritage while enjoying the convenience of a ready-to-drink product. This narrative has been perfectly backed by unique packaging that exhibits the brand’s focus on bringing back the childhood memories of its consumers.

 

Optimising Supply Chain

D2C companies have to handle numerous supply chain challenges, including demand forecasting, inventory management and last-mile delivery inefficiencies. To ensure sustainable growth, investing in technology to optimise and streamline supply chain processes is essential.

Licious is a great example that has optimised its supply chain to deliver fresh meat and seafood directly to consumers. The company has built a robust, end-to-end cold chain infrastructure that ensures freshness and quality from sourcing to delivery.  While it manages the entire process, including sourcing, processing, storage and last-mile delivery, the company leverages advanced technology, such as IoT systems and AI-driven algorithms to track inventory in real-time and accurately predict customer demand.

Notably, its predictive algorithms have reduced wastage from a staggering 40% to just 3%, demonstrating unparalleled efficiency in a rather challenging sector. Processes have been automated, right from demand planning and procurement to manufacturing and logistics planning, which has effectively streamlined the entire supply chain, making it more scalable. Additionally, the company uses geocoding APIs and Google Maps to enhance logistics, streamline farm pickups, calculate accurate delivery times and optimise courier routes for efficient delivery operations.

 

Smart Digital Marketing Strategies

Investing in digital marketing is essential for D2C brands looking to grow and scale. A well-rounded strategy should encompass various elements such as Search Engine Optimisation (to make brand discovery easier), well-thought-out content marketing (to build trust and showcase the brand’s expertise) and targeted social media advertising (to drive traffic and boost conversion rates). Additionally, collaborating with influencers can amplify brand visibility, helping reach a wider audience and validate authenticity. The right combination of these strategies can significantly increase brand awareness, drive sales and forge a loyal customer base.

For example, mCaffeine has brewed a winning formula in the beauty market with its caffeine-infused, toxin-free and eco-friendly skincare products, carving a unique niche in the crowded beauty market. Social media marketing has been the heart of their marketing strategy, meticulously blending quirky content, user-generated content, influencer partnerships and paid advertising. Discussing mCaffeine’s marketing strategy is incomplete without mentioning their impactful campaigns like #GetHighOnGoodness (emphasising sustainability and ethical product choices), #SkinCaffeine (enlightening consumers on caffeine’s skin benefits through collaboration with influencers), #HairCaffeine (promoting caffeine-infused haircare through video tutorials) and #mCaffeineSquad (community-building campaign encouraging consumers to share their mCaffeine experiences) that have helped the brand successfully reach out to and inspire a younger, trend-conscious audience who value premium, vegan and cruelty-free products.

 

Data-driven Decisions

For D2C brands, leveraging customer data is essential for making informed decisions in driving growth. By analysing buying patterns, preferences and behaviour, brands can create targeted marketing campaigns, ensuring that the message resonates with specific audiences. Personalised recommendations based on data also improve customer experience and enhance customer loyalty.

Zivame, the popular Indian lingerie brand, uses a data-driven approach to solve the biggest gap in the bra category – finding the right fit. It has devised a proprietary product called FITcode, which collects basic information from customers to identify their body type and fit. Using data science algorithms, Zivame matches customers to its already existing profiles and recommends suitable products. Additionally, the brand has effectively leveraged data science to optimise its supply chain, trying to create an accurate plan for stocking and managing products that ensure customers find what they need.

 

Community Building

Community building is crucial for D2C brands as it fosters loyalty, trust and engagement. By creating a sense of belongingness, brands encourage repeat customers who feel connected to the brand’s values. Active communities provide direct feedback, amplify reach through word-of-mouth and generate user content, which boosts credibility and marketing efforts. Further, engaging customers through events, co-creation and storytelling can consolidate brand identity.

Nike has successfully created online communities through its apps like Nike Run Club and Nike Training Club, where users can track progress, join challenges and connect with fellow enthusiasts. This has allowed the athletic footwear and apparel brand to engage with customers beyond just selling products, fostering a sense of community around fitness. Additionally, the brand’s regular events, marathons and training sessions have been effectively ensuring persistent engagement with the community.

 

Collaboration and Partnership

Collaboration and partnership could be game-changers for emerging D2C brands. By partnering with larger companies, D2C brands can steamroll supply chain inefficiencies, reach broader audiences, tap new markets and gain credibility.

For instance, Soulflower, a D2C skincare and essential oils brand, partnered with Nykaa to create exclusive combo kits sold on Nykaa’s platform. This collaboration boosted the visibility of Soulflower through Nykaa’s extensive audience while adding unique products to Nykaa’s portfolio.

While shared marketing campaigns and co-branding are popular options, the sky is the limit when it comes to creative thinking to devise need-specific collaboration opportunities. In an interesting insight, Sagar Daryani, the founder of ‘Wow! Momo’, during an IIMCIP-organised event, shared how a budding D2C spice brand can scale its reach and popularity by first exploring collaboration opportunities with HoReCa to build recognition and then leveraging this popularity to strengthen its D2C model. “You can become a D2C brand by going B2B,” he said.

Ultimately, the long-term success of D2C brands depends on their ability to balance innovation with customer-centric approaches and effective partnerships. By continuously refining strategies, embracing technology and engaging with the communities, these brands can navigate the complexities of the market while driving sustainable growth. As the D2C space evolves, the ones who master these dynamics will lead the next wave of retail transformation.

Best Practices that can transform Mobility Startups

For entrepreneurs and innovators in the mobility sector, few experiences are as enriching as a firsthand visit to an industry leader’s manufacturing facility. Recently, the winners of Maruti Suzuki NURTURE Cohort 2.0 had an invaluable opportunity to visit the Maruti Suzuki India Limited (MSIL) Manesar Plant – one of the largest and most advanced automotive manufacturing facilities in India. The visit offered first-hand insights into state-of-the-art manufacturing practices, lean production processes, automation in vehicle assembly and Maruti Suzuki’s approach to sustainability and workforce development. Following is an elaboration of the experiences and the key learnings picked up by the entrepreneurs during the visit.

 

Advanced Manufacturing Processes: Setting Industry Standards

The Manesar plant exemplifies cutting-edge manufacturing and thoroughly streamlined processes. The visiting entrepreneurs were introduced to Maruti Suzuki’s just-in-time (JIT) production system, which minimises inventory costs, reduces inventory costs and maximises efficiency by ensuring that the parts arrive exactly when needed.

Key learnings:

– Efficiency through Lean Manufacturing: Adopting lean principles can drastically reduce production costs, improve turnaround times and minimise waste, which can be the deciding factors for the success of any mobility startup.

-Automation for Precision: A high level of automation ensures precision, consistency and superior vehicle quality by minimising human error conspicuously.

 

Sustainable Manufacturing Practices

Maruti Suzuki’s Manesar plant exemplifies its commitment to sustainability with water recycling, zero-waste-to-landfill systems and solar energy usage, reflecting the company’s dedication to green manufacturing and reducing environmental impact.

Key learnings:

-Green Manufacturing: Sustainability is not just a corporate responsibility but provides a competitive advantage as well. Startups that incorporate eco-friendly practices from the beginning—such as using renewable energy or recycling materials—can appeal to environmentally conscious consumers and investors.

-Resource Optimisation: Meticulous management of resources through thoughtful means like water recycling and energy-efficient equipment can effectively reduce wastage.

 

The Role of Automation and Industry 4.0

The Manesar plant utilises robotics and automation across welding, assembly and quality control, embodying Industry 4.0 principles. Data analytics further helps enhance operational efficiency, product quality and maintenance.

Key learnings:

-Embrace Industry 4.0: The future of manufacturing is data-driven. By integrating IoT and AI-driven predictive maintenance, startups can improve efficiency, prevent costly downtimes and maintain high product quality standards.

-Flexible Automation: Maruti Suzuki’s use of robots extends beyond repetitive tasks, with some programmed to adapt to different vehicle models, demonstrating the flexibility of automation. This highlights the potential of adaptable automation to optimise operations across diverse product lines.

 

Workforce Development and Training

Maruti Suzuki’s Manesar plant invests in its workforce through dedicated training centres, ensuring employees are regularly skilled, reskilled and upskilled to stay updated with new technologies and processes.

Key learnings:

-Invest in People: In any high-tech production environment, a skilled and adaptable workforce is essential. Entrepreneurs should focus on building a knowledgeable and versatile team that can keep up with technological advancements.

-Encourage Lifelong Learning: With the pace of innovation in mobility accelerating, fostering a culture of continuous learning can help employees stay relevant and contribute meaningfully to a startup’s growth.

 

Quality Control and Assurance

Maruti Suzuki’s Manesar plant prioritises quality control at every stage, with automated systems inspecting components to ensure defect-free products, upholding the company’s reputation for reliability.

Key learnings:

-Prioritise Quality Control: In a competitive market, quality can be a decisive factor for customers. Entrepreneurs must establish rigorous quality checks from the outset to meet consumer expectations and build trust.

-Leverage Technology for Quality Assurance: Automating quality control tasks minimises errors, speeds up production and maintains consistency. By integrating smart quality assurance tools, startups can achieve higher standards and lower production costs.

 

Logistics and Supply Chain Management

Maruti Suzuki’s Manesar plant boasts top-class logistics and supply chain management, integrating seamlessly with suppliers and vendors and enabling rapid communication and just-in-time inventory management. This sophisticated supply chain setup helps minimise disruptions, reduce warehousing costs and ensure a steady material flow.

Key learnings:

-Efficient Supply Chain Design: A well-coordinated supply chain is essential for high-output manufacturing. Entrepreneurs should focus on establishing close relationships with suppliers and investing in robust inventory management systems.

-Adaptability: The ability to adapt supply chain processes based on demand and supplier dynamics emphasises the importance of flexibility. Mobility startups must design supply chains that can swiftly adjust to market changes or disruptions.

 

R&D and Innovation

Maruti Suzuki invests heavily in research and development, resulting in innovation in vehicle design, fuel efficiency and electric mobility. This ensures that the company remains competitive and responsive to consumer needs.  keeping it competitive. Entrepreneurs in the mobility sector are encouraged to prioritize R&D for long-

Key learnings:

-Prioritise R&D Investment: Innovation-driven R&D is key to staying competitive in the mobility space, particularly as trends shift towards electric and autonomous vehicles.

-Consumer-Centric Approach: For startups, building products that solve real customer problems is fundamental to success.

Celebrating a Decade of Innovation, Inclusivity and Impact

In 2014, a vision was set into motion to transform India’s entrepreneurial landscape, and today, as IIM Calcutta Innovation Park (IIMCIP) celebrates its 10-year milestone, the impact of that vision is undeniably clear. As a DST-recognised Technology Business Incubator under the aegis of the Indian Institute of Management Calcutta, IIMCIP has been at the forefront of nurturing innovation, empowering entrepreneurs and driving social change in the country.

 

Nurturing Innovations & Startups

From its inception, IIMCIP has been dedicated to fostering startups that not only bring innovative ideas to life but also create tangible societal impact. Over the past decade, the incubator has supported over 1000 startups across 23 states, providing critical business guidance, funding and access to networks that have enabled these startups to thrive in a competitive landscape. 108 startups have received seed funding totalling Rs. 27 Crores. The external funding tally stands at over Rs. 1900 Crores and a combined portfolio valuation exceeding Rs. 7300 Crores.

 

Empowering the Entrepreneurial Ecosystem

IIMCIP’s influence extends far beyond individual startups, emerging as a trusted partner in fostering a culture of entrepreneurship in the country. By partnering with state governments as a Knowledge Partner for their startup initiatives, IIMCIP has been instrumental in creating environments where entrepreneurship can flourish.

Initiatives like the Egiye Bangla startup contest with Zee Bangla and the Smart Fifty reality show with NDTV 24×7 played a big role in popularising entrepreneurship, inspiring countless individuals to pursue their business ideas. Additionally, IIMCIP’s collaboration with the North Eastern Council to launch the North East Entrepreneurship Development Programme has supported 270 startups from the eight states of Northeast India, further expanding its footprint and impact.

 

Championing Women Entrepreneurship

A cornerstone of IIMCIP’s mission has been its unwavering support for women entrepreneurs, particularly in rural areas. The NRETP Incubator Program, in collaboration with the National Rural Livelihoods Mission, is a testament to this commitment. This initiative has incubated 450 women-owned enterprises across Assam, Bihar and West Bengal, creating new opportunities and driving economic empowerment in rural communities.

IIMCIP’s partnership with the Pernod Ricard India Foundation further corroborates its dedication to women entrepreneurship, providing funding and business guidance to 17 women-owned startups.

 

Forging Strong Partnerships for the Future

IIMCIP’s journey has been marked by strategic collaborations with both international agencies and corporates, each adding a new dimension to its impact. Whether it’s the partnership with Tata Sons for the Tata Social Enterprise Challenge, the alliance with Balmer Lawrie to accelerate startup growth, the collaboration with JICA to support revenue-stage startups from Northeast India, the involvement with Villgro to boost the growth of for-profit social enterprises, or the association with PRIF to promote inclusivity in entrepreneurship, these partnerships have been crucial in bolstering IIMCIP’s resolve to drive impactful innovations and shape the nation’s entrepreneurial landscape.

 

As IIMCIP marks a decade of fostering innovation, empowering entrepreneurs, and driving social impact, its journey is far from over. The next chapter promises to be even more exciting as the incubator continues to build on its successes, forge new partnerships and support the next generation of entrepreneurs who will drive India’s growth and development.

IIMCIP’s strategic workshop boosts leadership for rural transformation in Tamil Nadu

Given the hands-on experience of successfully driving a rural incubation program for the states of Assam, Bihar and West Bengal as part of the NRLM-led NRETP Incubator Program, IIM Calcutta Innovation Park has picked up the baton to pass on the learnings and best practices for supporting rural entrepreneurs to the enablers who are in a position to play crucial roles in supporting enterprises within the rural landscape of the country. Taking the first step towards realising the objective, IIMCIP designed a 4-month capacity building program for the officials from the Tamil Nadu Rural Transformation Project (TNRTP). This strategic program, designed in collaboration with the Government of Tamil Nadu, sought to equip officials with the necessary skills, tools and insights to drive meaningful economic change in rural communities.

The primary objective of the capacity-building workshop was to enhance the ability of TNRTP officials to effectively manage and implement rural development programs. Through a focus on leadership and management development, the program aimed to prepare officials to design and execute initiatives that drive tangible change in rural communities. By the end of the training, participants gained the confidence and skills needed to address complex challenges, mobilise resources and meet program objectives with greater efficiency.

 

Capacity enhancement through bootcamps

The Capacity Enhancement Workshop was conducted in three distinct bootcamps, held across three batches over three days, from May to September. Each batch was led by its respective facilitators, viz., V. Babu, S. Muruganantham and Jagan Kumar L. Each bootcamp was tailored to different groups of officials, followed by a final session specifically designed for senior executives. For the bootcamps, the participants were trained in essential components for empowering rural entrepreneurs, like leadership, market access and value chain development. From understanding rural business models, the MSME sector and practical insights into rural development, to mastering the intricacies of legal compliance and financial management, TNRTP officials gained comprehensive insights that have built their capacity to enhance rural livelihoods through entrepreneurship and innovation. Experts to lead the sessions were Divvay Chaddha and Nitish Mawkin from Singhania & Co., while Rakesh Singh from S. Sanghi & Co. and Debapratim Das, the IIMCIP CFO took charge of the sessions on financial management.

A significant aspect of the program was its emphasis on market-driven strategies to promote rural enterprises. Officials were trained in value chain enhancement, enabling rural entrepreneurs to connect with broader markets, increase competitiveness and achieve better economic outcomes. This market-oriented approach aimed to improve the viability and profitability of rural businesses, directly contributing to enhanced livelihoods.

 

Hands-on learning and real-world impact

One of the hallmarks of IIMCIP’s approach is its emphasis on experiential learning. The workshop didn’t just focus on theoretical knowledge—it immersed participants in the realities of rural entrepreneurship. Officials had the unique opportunity to directly interact with entrepreneurs and explore real-life case studies. This hands-on experience allowed officials to apply the theoretical knowledge gained during the workshop to real-world scenarios, deepening their understanding of the dynamics of rural entrepreneurship. The final phase of the program culminated in team presentations, where officials showcased their strategies for rural enterprises. The most innovative and impactful team was awarded for their presentation.

 

Boosting competencies for sustainable rural transformation

At the heart of IIMCIP’s initiative is the belief that capacity building is key to long-term rural transformation. The workshop introduced innovative tools and methodologies to help officials address key issues related to rural entrepreneurship, livelihood creation and sustainable development. Participants were introduced to methods for streamlining processes, improving communication, and leveraging data for more informed decision-making.

Furthermore, the program placed a strong emphasis on mentorship. IIMCIP’s mentors, including Dr. Subhrangshu Sanyal (CEO), Debapratim Das (CFO), Suman Mukhopadhyay, Gaurav Kapoor (CBO), Prof. C.D. Mitra, Kaustav Majumdar, Dr. Bikash Chandra Mondal and Saumitra Dutta, trained officials towards guiding rural entrepreneurs through challenges, fostering innovation and ensuring the long-term sustainability of grassroots-level enterprises.

The capacity enhancement program was further strengthened by the involvement of Ms. S. Divyadharshini, IAS, CEO of TNRTP and Managing Director of the Tamil Nadu State Rural Livelihoods Mission (TNSRLM), whose presence underscored the significance and impact of the initiative.

IIMCIP’s Capacity Enhancement Workshop for TNRTP officials represents a bold step forward in rural development, with a clear focus on creating a lasting impact. As IIMCIP continues to champion rural innovation and entrepreneurship, programs like this are expected to create agents of change who will lead the way in fostering sustainable rural economies towards achieving the goal of a Viksit Bharat.

The 12th Edition of Tata Social Enterprise Challenge wraps up with new milestones and promises

The 12th edition of the Tata Social Enterprise Challenge (TSEC) at IIM Calcutta has marked another significant milestone in promoting social entrepreneurship in India. This year’s edition introduced innovative features, expanded its reach, and created new categories that opened doors for a broader range of entrepreneurial talent. The event, which concluded in September 2024, set new benchmarks for future editions and continued its mission of nurturing social enterprises that address critical societal issues.

 

The event unfolded over three dynamic days, offering a mix of mentoring, training, and pitching opportunities. It began with a bootcamp that offered rigorous training to the Top 50 startups. The day began with a specialised workshop by Dr. Ringo Rajagopal, CEO, uMobi Solutions Corp and Visiting Faculty at IIM Calcutta. It was followed by one-on-one mentoring sessions with prominent mentors from IIM Calcutta Innovation Park, like Debapratim Das, CFO, IIMCIP; Suman Mukhopadhyay, Mentor, IIMCIP; Namami Ghosh, Head of Incubation, IIMCIP; Pankaj Baruah, Head of Portfolio Management, IIMCIP; Dr. Ringo Rajagopal, CEO, uMobi Solutions Corp.; and Gaurav Kapoor, CBO, IIMCIP. The mentoring allowed the participants to enhance their pitches and boost their chances of success in the competition.

The second day was all about the pitch presentations. Startups presented their ideas to esteemed panels of judges, with a focus on innovation, scalability and social impact. The panels featured a distinguished lineup of industry experts and entrepreneurs, including T N Hari, Executive Chairman, STEER World and Member of the Board, IIMCIP; Mr. Ankur Shah, AVP, Patni Capital; Dr. Ringo Rajagopal; Foram Nagori, Head CSR, Tata Power; Anuj Sharma, Founder, Alsisar Impact; Uday Chatterjee, Director, TiE Dehradun; Deepak Daftari, Founder, E-Siksha & Ex-President, TiE Kolkata; Debraj Kundu, TCS, Sub ISU Head, CBG Retail UK & EU; K Chandran, MD & CEO, Campus Angel Network and Member of the Board, IIMCIP; Rachana Chandrashekhar, Upaya Social Venture; and Gaurav Shah, Founder, ISDM (TBC).

The top 10 startups advanced to the final day’s summit, while others benefited from a funding strategy workshop led by Debapratim Das. The workshop covered critical aspects of securing funding and scaling a social venture, giving participants the tools to navigate their entrepreneurial journeys.

On the final day, the top startups competed for prestigious awards and recognition, pitching their ideas to a distinguished panel comprising senior members of the Tata Group and IIM Calcutta Innovation Park like Ajay Jain, Member of the Board, IIM Calcutta & IIMCIP; Dr. Subhrangshu Sanyal, CEO, IIMCIP; K Neelakantan, Partner, Ankur Capital; Hari Balasubramanian, Member, Indian Angel Network; Chako Thomas, Head, Tata Sustainability Group; Manojit Sengupta, TCS, Digital Customer Experience Head; and Sourav Roy, Chief (Corporate Social Responsibility), Tata Steel Foundation.

 

The TSEC Summit

The program’s final day concluded with a grand Summit, bringing together more than 500 startup founders, industry leaders, seasoned entrepreneurs and students.

Peppered with insightful panel discussions, the Summit featured an interesting discourse on the “Challenges & Opportunities of Social Entrepreneurs” by IIMCIP-incubated startups and social entrepreneurs, Ekta Jaju, Founder of Onganic and Prarthana Kaul, Cofounder of GiftAbled. Another discussion, “Social Entrepreneurship: Challenges & Exploring Opportunities,” featured experts like Hari Balasubramanian and K Neelakantan. These discussions provided actionable advice and a rich networking opportunity for the attendees.

The competition culminated in the announcement of this year’s winners. Backyard Creators, founded by Raman R. and Lakshmanan R., took home the top prize, while Navmarg Research and Innovation and Padmaseetha Technologies were declared first and second runners-up, respectively. Alphaion received the seed fund award for its innovative efforts, marking a promising future for the startup.

 

New additions

One of the standout additions this year was the Tata Steel Thematic Prize, designed to recognise startups tackling challenges across five key themes. These included environmental sustainability, health and wellness, waste management, manufacturing for social good, and water and sanitation. Each theme highlighted the importance of targeted solutions for some of the world’s most pressing concerns. Startups such as UGreen Technology in environment and climate action, CareNX Innovations (Fetosense) in health and wellness, Aarug Reusable Pads in manufacturing and social good, Royal Bengal Greentech in waste management and recycling and Vaidic Srijan in water and sanitation emerged as exemplary innovators in their respective fields.

The introduction of the TSEC Young Innovators Challenge was a thoughtful addition, providing a platform for young entrepreneurs from West Bengal to present their innovative ideas. Teams like Ayudyog from Jadavpur University, AvionX Aerospace from Adamas University and Jamabavantha from Heritage Institute of Technology showcased their creativity and problem-solving skills. The inclusion of students and young professionals reinforced TSEC’s commitment to fostering the next generation of social entrepreneurs.

 

The 12th edition of TSEC reaffirmed its role as a catalyst for social change, offering a platform for entrepreneurs to address crucial societal issues. With every edition, the Tata Social Enterprise Challenge continues to evolve, solidifying its commitment to fostering impactful social enterprises that contribute to a more equitable and sustainable world.

4th edition of IIMCIP’s startup networking meet CONNECT.X receives an enthusiastic response in Guwahati

IIM Calcutta Innovation Park, in collaboration with the Ministry of Electronics and Information Technology (MeitY), organised the fourth edition of Assam’s biggest startup networking meet, CONNECT.X, in Guwahati on September 24, 2024.

Designed to bring key stakeholders in the startup ecosystem under one roof for idea sharing, learning, networking and meaningful collaborations, the latest edition of the program saw the participation of around 120 startup founders, seasoned entrepreneurs, investors and leading representatives from corporates, PSUs, incubators and media houses in the region.

A major highlight was a keynote session by Pratap TP, founder of QwikCilver Solutions, the world’s first end-to-end gift card provider, where he shared his journey of building the startup and its successful exit after being acquired by Pine Labs for over $100 million. “Never say never—you never know when opportunities will come,” he remarked.

In addition, a panel discussion was conducted, focused on the importance of adopting emerging technologies to help startups stay relevant and competitive. Dr. Ringo Rajagopal, CEO of the US-based technology management solutions company, uMobi Solutions, and Nilotpal Boruah, co-founder of Assam-based technology startup, TechVariable, highlighted the need to align a company’s vision with technology adoption, rather than forcing trends like artificial intelligence and machine learning without purpose.

Adding a new freshness to the event was an experience-sharing session by Nayanjyoti Saikia, winner of MasterChef India S7, who detailed his journey of discovering his culinary passion at a young age, his trial-and-error experiences with a patisserie venture, and how MasterChef India became a turning point leading to the launch of his fine-dine venture, Roohani. His journey of identifying his calling, overcoming hurdles, learning from mistakes and evolving continuously as an entrepreneur resonated with the startup founders attending the event.

Other prominent attendees included Himanshu Acharya, Head of New Business Development at Mitsubishi Corporation India; Dr. Geetima Das Krishna, Head, NE – Invest India; Krishna Hazarika Rao, DGM (PR), Oil India Ltd.; veteran journalist and author Mrinal Talukdar; Zaveer Zaman, AGM (Investments), NEDFi Venture Capital Ltd.; Atreyee Borooah Thekedath, Founder of Web.com (India); and Jahnabi Phookan, Founder of Jungle Travels India, among others.

New and emerging startup founders expressed their excitement about finally having a one-of-a-kind platform in the region to connect with prominent figures from the startup ecosystem, learn from their vast experience and gain valuable exposure.

Over its four editions, CONNECT.X has gained a strong reputation for facilitating collaboration and exposure, particularly for emerging entrepreneurs in the region. IIMCIP launched CONNECT.X in 2022 after recognising the importance of networking and exposure for fostering the growth of Assam’s startup ecosystem. The aim has been to build a supportive community of stakeholders to drive the region’s startup ecosystem forward.

MeitY TIDE 2.0 Northeast Techathon – X4 celebrates promising startup ideas from Northeast India

The MeitY TIDE 2.0 Northeast Techathon – X4, Northeast India’s largest hunt for ICT-based business ideas, organised by IIM Calcutta Innovation Park, in collaboration with the Ministry of Electronics and Information Technology, was successfully concluded recently, covering five states in Northeast India. Spanning the states of Assam, Meghalaya, Arunachal Pradesh, Mizoram and Nagaland from August 29 to September 20, 2024, the idea hunt series aimed to identify, nurture and celebrate innovative ideas, while equipping entrepreneurs with essential skills and mentorship.

Each state hosted a two-day event, beginning with a workshop by IIM Calcutta Innovation Park (IIMCIP) focused on effective pitching techniques, which helped the participants sharpen their presentation skills in preparation for the final pitching session on Day 2. Additionally, local startup founders from each hosting state shared their entrepreneurial journeys, providing inspiration and valuable insights to the participants

On Day 2, participants pitched their ideas to a distinguished jury, which selected three winners from each state. The events blended learning, motivation and competition, culminating in the discovery of some of the most promising startups in Northeast India.

The Techathon showcased impressive talent across the region. In Assam, the event held at Gauhati University Institute of Science and Technology on August 30 and 31, saw Hatk Media LLP, Stemcorp Dynamics LLP and Gentledental.ai emerge as the winners. The subsequent event in Assam at Jorhat Engineering College on September 19 and 20 recognised Outplayed, AgroNexa and Telescope Records as winners.

Arunachal Pradesh’s event at Rajiv Gandhi University on August 29 and 30 awarded Paradise on Wheels, InstaLaw and Ninur Farms AI. In Nagaland, the YouthNet Incubation Centre hosted participants on September 9 and 10, where Earthian Ki, Kiphire Mart and Splinxify (Coders Hope) walked away as winners. Meghalaya’s PRIME Hub in Shillong held its event on September 4 and 5, with Dejame Creacion, Iewduh Techz and Recycle Bazzar taking the winning spotlight. In Mizoram, the Mizoram Startup Hub celebrated Hinside, Style n Pose and 3D Printing Solution as winners on September 12 and 13.

The MeitY TIDE 2.0 Northeast Techathon series has been playing a remarkable role in fostering the growth of the entrepreneurial ecosystem across the Northeast, providing a vital platform for bright minds to showcase their ideas and gain essential guidance. The response received by the program is a testament to the region’s potential for innovation and entrepreneurship.

IIMC-TIC Launch

IIM Calcutta unveils “IIMCIP Technology and Innovation Council”, a new tech incubation arm to benefit East & Northeast India

The Indian Institute of Management Calcutta has announced the establishment of the IIMCIP Technology and Innovation Council (IIMC-TIC), a new Section 8 company under IIM Calcutta Innovation Park! The landmark announcement was made during a launch event held at the IIM Calcutta campus on June 22, 2024, in the presence of eminent figures like the Chairman – IIM Calcutta Board of Governors, Director – IIM Calcutta, Chairman and Board members of IIM Calcutta Innovation Park and Padma Shri awardee Prof. Ashok Jhunjhunwala, the proposed Chairman of the Board, IIMC-TIC.

The vision of IIMC-TIC is to foster innovation, push technology-driven growth and promote inclusive development across East and North-East India. The Council’s primary mission is to catalyse innovation and entrepreneurship while ensuring that the benefits reach all sections of society through a human-centric approach.

IIMC-TIC’s key activities would focus on:

  • – Fostering a technology-driven entrepreneurship culture among students through academic partnerships in East and North-East India,
  • – Catalysing ‘Build Clubs’ and technology communities within the academia to encourage creativity and nurture innovation,
  • – Facilitating industry-academia collaborations to address industry challenges,
  • – Supporting the development and commercialisation of deep tech solutions,
  • – Leveraging regional strengths to drive impactful innovation to address key developmental challenges, and
  • – Providing policy-level inputs to enhance the technology-led entrepreneurship ecosystem in East and Northeast India.

To achieve the mission of creating a large-scale socio-economic impact leveraging technology and innovation, IIM Calcutta (IIM Calcutta Innovation Park) will actively seek strategic partnerships with top technology institutions in India and abroad. It has already joined hands with the IIT Madras Incubation Cell, which is one of the best technology innovation centres in the country. This collaboration represents a confluence of intellectual prowess and innovation excellence and is poised to create a powerful synergy leveraging the business acumen of IIMCIP and the technological expertise of IIT Madras Incubation Cell. Padma Shri awardee Prof. Ashok Jhunjhunwala, a luminary in the realm of technology and innovation and a visionary leader has agreed to preside as the Chairman of the Board of the IIMCIP Technology and Innovation Council (IIMC-TIC). Under his leadership, IIMC-TIC is poised to launch groundbreaking initiatives to revolutionise the innovation and entrepreneurship ecosystem, particularly in East and Northeast India. 

Northeast Startup Summit, organized by the North Eastern Council and IIM Calcutta Innovation Park, draws the attention of celebrated figures from the startup world

The North Eastern Council, in association with IIM Calcutta Innovation Park, organised the “Northeast Startup Summit” on the 29th of January, 2024, at Hotel Vivanta, Guwahati, bringing much-needed exposure to the startup ecosystem of the region. Serving as the culmination of the incubation program for the initial cohort of 270 startups under the North East Entrepreneurship Development Programme, a joint initiative by the North Eastern Council and IIM Calcutta Innovation Park as the Implementation Partner, the Summit stood out as the largest of its kind in the area.

The primary goal of the Summit was to showcase and celebrate the evolution of the startup ecosystem in Northeast India while providing a platform for innovative minds to connect, collaborate and gain exposure. The event witnessed a footfall of over 500 startup founders from Northeast India, ecosystem enablers, celebrated entrepreneurs, corporate leaders and some of the top-notch investors in the country.

The event was graced by the Secretary of the North Eastern Council, K. Moses Chalai, IAS, who was accompanied by Som Kamei, IPoS, Planning Advisor, North Eastern Council and M.C Omi, Ningshen, IRS, NECBDC. The Chairman and Managing Director of NEDFi, PVSLN Murty was also present at the Summit, offering his valuable insights on funding and encouraging the emerging startups of the region.

Addressing the gathering, the NEC Secretary conveyed his satisfaction with the results of the North East Entrepreneurship Development Programme. “I am happy to see the 270 startups selected for the program benefiting from the guidance and mentorship provided by IIM Calcutta Innovation Park,” he remarked. He further assured the startups of comprehensive support and emphasised their crucial role in driving the economic transformation of the region.

The Summit garnered significant exposure for the fast-evolving startup ecosystem of the region as numerous reputed figures from India’s startup ecosystem participated in the event. Notable attendees included Sagar Daryani, Founder & CEO, Wow! Momo; Pratap TP, Founder, QwikCilver Solutions; Shradha Sharma, Founder & CEO, YourStory Media; Vikram Gupta, Founder & Managing Partner, IvyCap Ventures; Hari Balasubramanian, Member, Indian Angel Network; Anuj Sharma, Founder, ALSiSAR IMPACT; and Anil Chhikara, Head – Global Strategy, Marwari Catalysts, to name a few.

A key highlight of the mega event was an eclectic exhibition by over 80 startups from across the eight states of Northeast India, serving as a testament to the unique products and innovations emerging from the vibrant region.

While the visiting investors expressed interest in a number of startups from the region, the celebrated entrepreneurs were overwhelmed by the sheer variety and diversity of the products displayed by the startups at the exhibition.

“It feels fantastic to be here. The warmth, passion and the kind of innovation on display are just amazing. We are a consumer-dominated country. Given the kind of consumer products that I have seen here, I think many of them have the potential to scale nationally. I believe Northeast India is the future of our country,” said Sagar Daryani.

Shradha Sharma, the founder of YourStory, shared a similar sentiment about the quality of innovation in Northeast India. “I am truly impressed by the passion of the entrepreneurs here, and the array of products is mindboggling! From a delightful assortment of handloom and handicrafts to cutting-edge innovations in drones, 3D and robotics – the region has it all! The startups from Northeast India have it all to be successful. They just need some support in building a good network and securing market linkages,” she said.

In an insightful reflection on the program’s achievements, Dr. Subhrangshu Sanyal, the CEO of IIM Calcutta Innovation Park, shed light on its success.  “Over the past nine months, the 270 startups from Northeast India underwent intensive mentoring, resulting in significant strides. A considerable portion of these startups garnered positive responses from the market, with many witnessing a doubling of their revenue and some successfully securing funding. This Summit is a celebration of the success stories of these Northeast Indian startups. These success stories are now going to go pan-India and I think this is the success of this initiative,” said Dr. Sanyal.

In a significant announcement, the IIM Calcutta Innovation Park extended investment letters of intent to 9 startups incubated under the North East Entrepreneurship Development Programme. This move is anticipated to greatly enhance the investment landscape of the region, potentially attracting subsequent funding from venture capitalists at the national level.

Over the past five years, the startup ecosystem in Northeast India has experienced significant advancement, as reflected in the impressive performance of the Northeastern states in DPIIT’s States’ Startup Ranking. Initiatives such as the Northeast Startup Summit are crucial catalysts for garnering visibility and offering entrepreneurs valuable networking opportunities.