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Narayana Business School Fuels Startup Growth: What We Learned At Genesis 2023 and Idea Roast, Top Tips For Indian Startups

Narayana Business School is on a mission to nurture the next generation of startup entrepreneurs through its innovative and impactful events. Recently, NBS hosted two significant and highly anticipated events in discussion with some of the top startups in India: Genesis 2023 and Idea Roast event, both designed to provide practical insights, constructive feedback, and essential guidance to burgeoning startups. These events brought together industry leaders, seasoned entrepreneurs, and ambitious new startups in India, creating a dynamic platform for growth, learning, and networking.

India’s startup ecosystem is experiencing a significant positive momentum, marked by robust growth and substantial investments. As of 2023, India ranks as the third largest startup ecosystem globally, boasting over 99,000 startups and 107 unicorns valued at $30 billion. This impressive growth is driven by several factors, including supportive government policies, increased ease of doing business, and a thriving network of incubators and accelerators.

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In the first quarter of 2023, Indian startups attracted over $2 billion in venture capital investments across 183 deals, highlighting a strong investor confidence despite global economic uncertainties

Genesis 2023, an annual hallmark event at NBS, provided an inspirational platform for budding entrepreneurs. This year’s theme was “Insights and Journeys from Startup Founders.” The event featured entrepreneurs Jitendra Lakhwani, Nikita Mahesh, and Faraz, who shared their unique experiences and lessons learned from their entrepreneurial journeys.

Jatin Chaudhary, the co-founder of eChai Ventures, has significantly influenced the global startup community through his visionary leadership and strategic initiatives. Founded in Ahmedabad, eChai Ventures has grown remarkably, establishing active chapters in over 25 cities across 10 countries.

Jatin’s vision for eChai Ventures focuses on fostering a collaborative environment where startups can thrive through engaging growth meetups and cross-border collaborations. Under his leadership, eChai Ventures hosts regular events that bring together entrepreneurs, investors, and industry experts, creating a dynamic platform for sharing knowledge and building meaningful connections.

Jitendra Lakhwani: Jitendra Lakhwani, an engineer turned MBA graduate, began his career with IBM. Despite early setbacks, his sincere dedication and hard work paved the way for his success. He now heads a leading IT company, underscoring the importance of leveraging early experiences for significant growth. Jitendra highlighted how sincerity and perseverance are crucial in the entrepreneurial journey. He emphasized the value of a solid foundation and the need for continuous learning and adaptability.

Nikita Mahesh: Nikita Mahesh, a law graduate who transitioned into logistics, shared her remarkable journey from a legal professional to a successful entrepreneur. She founded a niche company specializing in ceramic tiles and sanitary ware, leveraging the geographic advantage of Morbi, a major tile-producing hub in India. Nikita’s company, which operates in 13 cities and is completely bootstrapped, stands as a testament to her strategic vision and determination. She emphasized the importance of understanding market needs and adapting to changes to achieve success.

Faraz: Faraz, with a background in BBA and MBA, stressed the significance of building genuine, long-term relationships over transactional ones. His company, which operates in multiple countries including India, the US, UK, Canada, and Australia, showcases the value of meaningful networks and continuous learning. Faraz encouraged aspiring entrepreneurs to focus on cultivating relationships that are based on trust and mutual respect, as these are instrumental in long-term success. 

Narayana Business School partnered with Idea Roast to host a landmark event focused on “Navigating GTM (Go-To-Market) Metrics. The format of the event was designed to enable brimming startups to come 1v1 with industry pioneers where entrepreneurs, investors, or industry experts provide constructive feedback and criticism on startup pitch decks, ideas, or products.

The event, modelled after the popular Shark Tank format, the idea was to conduct an event which helps in providing startups an opportunity to present their innovative business ideas to a panel of esteemed jury members. The jury included:

  • Nachiket Patel – Co-Founder And VP – Operations At Digicorp, Board member at GESIA IT
  • Mithilesh Chudgar – Virtual CEO, Performance Coach – Business Growth Specialist
  • Chirag Barot – Consultant at IT services/products
  • Dr Shivangi Shukla – Associate Professor – Narayana Business School

The entire event was moderated by Mr. Vishal Tiwari – VP growth and Strategy – Narayana Business School. Adding to the event’s prestige, special guest Ananya Maloo, the founder of Nuutjob, brought her unique perspective and experience in the startup ecosystem in the firechat session.

The event kicked off with an introduction of the jury members and the special guest. Each startup pitcher was given 20 minutes to present their innovative ideas and products. The Q&A session that followed involved questions from the jury members, providing the startups with valuable feedback and insights.

After the Q&A session, the event took a break for networking, allowing the startups to connect with the jury members and other attendees. The panel discussion that followed focused on the theme of “Unveiling the Myths and Facts behind GTM Metrics.” The discussion was led by the jury members and the special guest, providing attendees with a deeper understanding of the importance of Go-to-Market (GTM) metrics in the startup world.

The discussion concluded with the jury providing final feedback on the startups, highlighting key strengths and areas for improvement. An open floor Q&A session allowed all participants to engage with the jury and speakers, ask questions, and go in-depth into the discussed topics.

“We are thrilled to have collaborated with Idea Roast on this event,” said Vishal Tiwari, VP Growth and Strategy at Narayana Business School. “Our goal is to provide our students with the best possible learning experience, and events like this help us achieve that. We are grateful to Idea Roast for their support and look forward to future collaborations.”

Narayana Business School has a long history of collaborating with industries and organizations to provide its students with real-world learning experiences. The institution was the first postgraduate college in West India to collaborate with EY for its quantitative finance program, further solidifying its commitment to providing its students with the best possible education.

Genuine Relationships:

  • Build meaningful and long-term relationships rather than focusing on short-term gains.
  • Genuine connections can lead to unexpected opportunities and collaborations.

Continuous Learning:

  • Stay adaptable and keep learning to stay ahead in the dynamic startup environment.
  • Embrace new technologies and methodologies to improve business operations.

Leveraging Geographic Advantages:

  • Utilize local advantages to create a niche in the market.
  • Understanding the local industry and customer behavior can provide a competitive edge.

Family Influence:

  • Family backgrounds and early experiences can significantly shape entrepreneurial thinking.
  • Encourage family discussions about business and market trends to nurture future entrepreneurs.

Resilience and Adaptability:

  • Be prepared to face and overcome challenges.
  • Adaptability and resilience are key to sustaining and growing a business.

Narayana Business School’s Genesis 2023 and Idea Roast was a deliberate and successful effort to call all great startup founders under one roof and take lessons from startups that scaled up. By providing a platform for practical insights, constructive feedback, and essential guidance, these events have empowered aspiring entrepreneurs to navigate the complexities of the startup landscape effectively. The collaboration between industry leaders, seasoned entrepreneurs, and ambitious startups has fostered a vibrant ecosystem of innovation and growth.

As the Indian startup ecosystem thrives amid supportive government policies and strong economic growth, platforms like Genesis 2023 and Idea Roast are crucial in shaping the future of entrepreneurship in India. With a focus on continuous learning, meaningful relationships, and strategic adaptability, Indian startups are well-positioned to achieve sustained success and drive economic progress.

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