TiEcon Mumbai 2023, brilliantly showcased revolutionary ideas & impactful solutions to build an Anti-Fragile and Sustainable India
TiEcon Mumbai 2023, brilliantly
showcased revolutionary ideas & impactful solutions to build an
Anti-Fragile and Sustainable India
Mumbai, 09 June 2023: The 16th Edition of TiEcon Mumbai, organised by TiE
Mumbai at Jio Convention Centre, BKC culminated on an enthusiastic note with a
call to build an Anti-Fragile and Sustainable India. It kick-started with
marquee speakers focusing on ways to accelerate growth, drive more intelligent
engagement, make conscious choices and methods to empower sustainable business
building ideas.
Speaking at the summit, Ranu Vohra, President- TiE
Mumbai said, “It was great to see the energy of the startup eco system at
work at TiECon 2023. There were lively debates on Mumbai’s roadmap to becoming
the startup hub, Gen AI and its role in India and the opportunities, thus
created. The session on funding availability held out promise that as the
startups become “anti-fragile” and focus on unit economics and profitability we
should see a renewed increase in funding possibilities. The highly anticipated
BCG report on the ecosystem was very well received and spoke about the inherent
changes including cultural changes required to bring about sustainability in
the startup ecosystem. We are overwhelmed by the positive feedback from
entrepreneurs (there were 3000+ attendees) and on behalf of the Board and Past
TiE Mumbai Presidents want to thank the community which participated
wholeheartedly.”
Apoorva Sharma, President Elect, TiE Mumbai said, “India is a land of opportunity and hope, a
place where dreams can come true. But as the country rapidly urbanizes, it is
also becoming a place of transition. Successful Entrepreneurship is a marathon and not a
sprint. Startups need to have a customer centric approach, must learn to think
differently and leverage Tech – Data & AI for a competitive edge. VCs are
looking to invest in founders who are passionate and have a differentiated
product/ service with expertise.”
India is at a focal point of innovation. The country
is all set to reach a $ 5 Trillion economy by 2027. India is rising as the
knowledge and talent capital of the world having the 3rd largest ecosystem of
climate Tech Organizations. Start Ups
are a key driver of this Digital Transformation of India. Generation AI is
slated to deliver breakthrough productivity gains and is a paradigm shift in
computing creating massive disruption in Digital businesses.
A comprehensive report “Era of resilient Growth?” was
also launched by BCG at the summit. Some highlights of the report are stated below –
- Global and
Indian macroeconomic and funding environment:
Ø While overall funding has
decreased in past few years, there is some level of recency bias, as funding
levels still comparable to 2019/20.
Ø Importantly funding still at brisk
levels in seed/early stages, this coupled with record levels of dry powder
imply money available for new startups.
Ø Specifically,
India comparatively doing well, with higher share of APAC investments.
Ø Importantly, very clear trend
towards investors favouring either profitable companies or with clearer path to
profitability.
Ø On India opportunity: With an expected
$ 7 Tn economy by 2030, multiple sectors will open up for startups with very
sizeable TAM. Identified > 20 segments across B2B and B2C where large
opportunities exist for new crop of startups to emerge. Specifically, in B2B
with increased focus of enterprises on digitisation of supply chains and
distribution, multiple potential opportunities are likely to open up across
different models like marketplaces, SaaS, product or IOT companies.
·
How to think
about building resilient startups in the current environment- 4 ways to think
about resilient companies:
Ø Right strategy to win (Right markets
and agility, high degree of customer obsession, M&A as a strategic tool)
Ø Rhythmic engine (Focus on
efficiencies, margins and supply chain)
Ø Agile Organization and intentional
culture
Ø Managing and raising capital; as
also stakeholder management
- Some key
macro trends important for Indian startups- specific highlights on Gen AI
and Climate and Sustainability
Ø Gen AI: Significant
potential for transformative changes across large parts of value chains of many
sectors. Many consumer segments like gaming, video, edtech etc will
fundamentally change beyond what we are seeing today. Also, many opportunities
will open up on B2B side where there will be competition between incumbents and
potentially newer players.
Ø
Climate and
Sustainability- remains another opportunity for startups.
o India has taken a net zero target by
2070.
o More than 190 Bn+ of VC funding
across the globe with more than 85 unicorns
o While multiple challenges, Indian
ecosystem has been developing. India now the 3rd largest ecosystem of Climate
Tech Orgs. Major focus across Electric mobility, clean energy transitions,
carbon tech and Waste to value.
The conference brought together leaders from business,
academia, and civil society to discuss how to build an anti-fragile India. The
speakers discussed a range of topics, including ways to build a more resilient
economy that can withstand shocks and stresses, means to create a more
inclusive society that gives everyone a chance to succeed, how to promote
innovation and entrepreneurship and ways protect the environment.
Some key takeaways from the conference were that India
has the potential to be an anti-fragile nation. Each one of us has a role to
play in building an anti-fragile India. The key to building an anti-fragile
India is to focus on resilience, inclusivity, innovation, and environmental
protection. The conference had meaningful dialogues around ESG, net zero, green
hydrogen etc leading the pathway to tech related startups. It was impressed
that by working together, we can build a more resilient, inclusive, innovative,
and sustainable India.
TiECon'23 also comprised of 140+ specifically curated
startups expo which showcased their products to demonstrate innovation in
India. There were power packed panel discussions, insightful workshops,
masterclasses on building high and growth products. The Summit provided an
important platform for collaboration and engagement. The summit had diverse set
of experts, speakers and high level of participation. It was rich in content
and valuable in creating the better understanding.
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