INDIA SUPER ECOTECH POWER

India is in the midst of a remarkable transformation that has captivated the world. Its emphasis on advanced manufacturing, digitalization, capital formation, life science, and technological enterprise has enabled it to be at the forefront of the global revolution.

The 16th edition of its flagship conference – TiEcon Mumbai, was held on the 2nd of June 2023 at the prestigious Jio World Convention Centre. BKC, Mumbai, organized and arranged by TiE Mumbai, the theme being centered around the topic “Unboxing India 3-0 – Anti fragile | Conscious| Innovating”.

Attended by more than 3000 entrepreneurs, the conference was a highly successful event, featuring keynote speakers who discussed strategies to accelerate growth, promote intelligent engagement, foster informed decision-making, and foster sustainable business building strategies.

The conference was attended by approximately 45+ of India’s most prominent Unicorns, and the primary focus of the event was the India’s $10T GDP and the emergence of 850+ soonicorns. The conference provided an opportunity to gain insight into their journey, the emergence of Indian decacorns, the G20 opportunities, the unit economics and profitability of Amrit Kaal in Ushering, as well as new horizons such as AgriTech and HealthTech; Climate Action; FinTech and Smart Living; and Innovate for India.

The traditional inaugural ceremony was attended by the esteemed founders and board of directors of TIE India.

The summit featured a variety of panels, workshops, and masterclasses dedicated to the development of high-growth and innovative products. Additionally, 140+ specially curated startups expos were present to showcase their products. The summit provided an opportunity for networking and engagement between experts, speakers, and attendees. The content of the summit was extensive and contributed to the development of a better understanding.

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.”

India is a global hub for innovation, and is projected to become a $5 trillion economy by the year 2027. It is also emerging as a knowledge and talent hub, boasting the third largest network of climate tech organizations in the world. Start Ups are at the forefront of India’s Digital Transformation.

The conference was a gathering of business, academia, and civil society leaders to explore ways to construct an India that is resistant to fragility. Speakers addressed a variety of topics, such as how to construct an economy that is more resilient to shocks and pressures, how to construct an inclusive society that provides opportunities for all, how to foster innovation and entrepreneurship, and how to protect the environment.

TiE Mumbai’s President-Elect, Apoorva Sharma, highlighted the importance of customer centricity, innovative thinking, and the use of technology, data and artificial intelligence to gain a competitive advantage. Sharma stated, “Successful entrepreneurship is a marathon and not a sprint. VCs are looking to invest in founders who are passionate and have a differentiated product/service with expertise.”

India is a leader in innovation and is on track to be a $5 trillion business by 2027. It has the third-largest network of climate tech companies in the world. Startups are key to India’s digital transformation, and Generation AI is expected to revolutionize productivity and shake up digital businesses on a huge scale.

The event not only focused on entrepreneurship and innovation but also highlighted the social impact and sustainability of social ventures. The event featured a variety of startups and initiatives that sought to address pressing societal issues, such as access to healthcare, climate change, education inequality, and more. By highlighting the social impact of these ventures, attendees were encouraged to reflect on their own ventures and to collaborate to bring about positive change.

The event focused on the Indian startup ecosystem, which is one of the driving forces behind India’s digital transformation. Leaders presented their perspectives on the need for new businesses to leverage technology and AI to provide superior customer experiences, the importance of sustainability for growth, the importance of product and service innovation for venture capital fundraising, and the potential of Mumbai as India’s next startup hub.

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.

Mr. Shaleen Sinha – Head BCG Growth Tech India, BCG India launched the comprehensive report “Era of resilient Growth?” and below are few of the highlights –

Global and Indian macroeconomic and funding environment:

While overall funding has decreased in past few years, there is some level of recency bias, as funding levels still comparable to 2019/20.

Importantly funding still at brisk levels in seed/early stages, this coupled with record levels of dry powder imply money available for new startups.

Specifically, India comparatively doing well, with higher share of APAC investments.

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 digitization 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:

Right strategy to win (Right markets and agility, high degree of customer obsession, M&A as a strategic tool)

Rhythmic engine (Focus on efficiencies, margins and supply chain)

Agile Organization and intentional culture

Managing and raising capital; as also stakeholder management

Some key macro trends important for Indian startups- specific highlights on Climate and Sustainability:

India has taken a net zero target by 2070

Climate and Sustainability- remains another opportunity for startups

With multiple challenges, 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 report shows that India’s funding landscape has been relatively stable, even though the economy has been facing some challenges. India has more investments in Asia-Pacific compared to other markets.

The report identified a number of macro trends that are essential for Indian startups, including the development of generic Artificial Intelligence (AI) and the development of Climate and Sustainability (C&S). In the AI sector, the report predicted a significant shift in consumer segments such as Gaming, Video, and Edtech, with competition between established players and newer players intensifying as B2B opportunities arise. Additionally, the report identified climate and sustainability as other areas of potential growth for Indian startups, with the country having the third largest eco-system of Climate Technology Organisations. The focus areas for the future are expected to be Electric Mobility, Clean Energy Transition, Carbon Technology, and Waste to Value.

Ranu Vohra, President – TiE Mumbai said “At TiE we aim to provide entrepreneurs with the tool kit they need to create scalable, robust businesses. The BCG report plays a pivotal role in that direction. It presents details on the large addressable markets and defines the food chain for each of these. Entrepreneurs can use this information to direct their capital towards what might create most impact in the next few years. We, at TiE hope that startups will create solutions addressing these opportunities and market sets, whether it’s in Generative AI or EV tech. We further hope TiEcon Mumbai 2023 will provide entrepreneurs the templates for thriving in the current environment and contribute further towards further accelerating India’s growth.”

The last session of the summit, was the most deadly and scary, alarming by Srikanth Velamakanni Co-founder & CEO, Fractal AI, on Gen AI: Unfolding the Pandora’s Box and was followed by a chat with Nishith Desai – Founder NIshith Deesai Assoc.

With AI becoming increasingly prevalent in everyday business and life, this panel is dedicated to exploring the potential of Gen AI.

‘Humans who don’t use AI will be replaced…’, “The next 20 years in AI is going to be fun” says Srikanth Velamakanni – Co-founder, Group Chief Executive and Executive Vice-chairman of FRACTAL Analytics. It is his unique perspective and mission to power every human decision in the enterprise and to use the power of AI.

ChatGPT, a viral “ask me anything” chatbot created by OpenAI, is widely regarded as a pivotal moment in the short history of Artificial Intelligence (AI). It marks the first time that AI is accessible to the average person through a smartphone.

Srikanth highlighted, “The AI bandwagon is unstoppable. The influx of technology talent, large-scale computing capabilities and a wide range of applications are expected to speed up and broaden the applied AI environment in the foreseeable future.”

The above is a poem created by CHATGP for NISHITH DESAI ASSOCIATES.

Mukund Pandey MD – Enterprise – Cisco Systems presented a very bullish potential for the Indian TEch & Startup ecosystem – Accelerating India 3/0 with Digital Transformation.

IT expenditure in India is projected to increase by 0.5% in 2023 to a total of USD 110.3 billion, which is an increase of USD 109.7 billion from 2022. Globally, IT expenditure is projected to reach USD 4.5 trillion by 2023, a 2.4% increase from 2022, which is lower than the 5.1% growth predicted in the preceding quarter, according to latest forecast. Competition for talent is making it difficult for Chief Information Officers (CIOs) to recruit experienced IT personnel, thus hindering growth for businesses that are unable to expand without the necessary personnel, according to the report.

Digital transformation is accelerating at a faster rate than ever before, with more than half a billion new applications expected to be created worldwide in the next three years. The current pandemic has resulted in the transformation of every business organization into a technology entity, resulting in the worldwide development of an ever-increasing number of applications, with the vast majority of those applications being developed on a low-code framework.

At Cisco for Startups, we understand the importance of collaboration and strive to help startups reach their full potential. Our deep tech business-to-business (B2B) startup accelerator provides cutting-edge technology solutions, as well as industry-leading mentorship programs, that are always beneficial to startups who are committed to Transforming Tomorrow Together.

Cisco LaunchPad focuses on enterprise technology, the Internet of Things (IoT) and digitalization, as well as futuristic technology, with a focus on twelve industry verticals: healthcare, retail and agri; manufacturing and warehousing; surveillance and asset tracking; transportation; security; collaboration; emerging tech; edtech; enterprise technology; and energy and utilities.

Malaki was established by two enterprising brothers, Ashish and Mohit, who are part of a family with more than sixty years of combined experience and knowledge in food and beverage. The brothers decided to take a bold step and produce premium and innovative drinks in India. The company offers a wide variety of products, ranging from 24-carat gold-flavoured water to alkaline-rich beverages, to Spiced Ginger Ale. Additionally, the company offers sparkling water sourced from the Himalayan region, as well as coffee tonic sourced from Coorg, Kerala. They were exhibiting their fine products and I was lucky to taste the coffee tonic, a superb refreshing drink.

Indians have shifted their preferences to healthier options and in-home drinking. Consumer tastes and preferences have evolved significantly over the past five years, with consumers discarding traditional colas and opting for new age beverages that offer a balance between taste, quality and caloric content.

Malaki is renowned for its commitment to using only the highest quality ingredients in its products. This is exemplified by the use of high-quality quinine in its tonic waters, and natural ginger in its ginger ale range, both of which are authentic Indian flavors that have made Malaki a popular choice among beverage aficionados.

Somewhathingsbrewing’s resourceful collection of innovative coffee making equipment can be used at camping on the mountaintop, in the office and in the kitchen to make good coffee available to you wherever you are. A well-stocked library of coffee knowledge can satisfy your caffeine-addicted nature. Develop your knowledge through our exciting coffee-consultations.

Indiranagar, located in the heart of Bengaluru’s food and coffee district, will be the home of some of the most renowned coffee brands in the world. This 3,500 square foot space will feature carefully selected coffee zones for visitors to experience the various stages of coffee production, from brewing, roasting, and grinding. This expansive space will serve as a colossus for all coffee equipment and products, as well as training and conversations that foster a closer relationship between the coffee community.

Somewhathings Brewing offers an exceptional selection a range of handcrafted coffee equipment, unparalleled coffee knowledge, and exceptional coffee connections all in one convenient location.

“Our retail store will also be a second home for home brewers and coffee enthusiasts to delve deeper and discover nuanced aspects of this temperamental beverage. With this launch, we aim at staying true to the name that ‘Something’ will always be ‘Brewing’ here. We hope to take this experience across the length and breadth of the country and grow the coffee tribe in India,” Abhinav Mathur, CEO, Something’s Brewing.

Our motivation for embarking on this captivating culinary journey is straightforward. After reading ‘Stay hungry, stay foolish’, the foodie in us and the bibliophile in us were compelled to choose our motive, remark founders Soumyadeep and Gayatri Gogate. We believe that it is much simpler to remain foolish than to remain hungry. After all, what else would one expect from a foodie? Spice Story brings to you a range of authentic and curated flavors of Indian Chutneys from different regions of India.

Chutneys have long been a staple of Indian cuisine, providing a unique and flavorful accompaniment to any dish. Depending on the region and cultural preferences, one can find a wide range of chutneys to choose from, ranging from sweet and sour to spicy, hot and sour, and hot and sweet.

Pascati is among only a handful of chocolate makers, that controls the Dark chocolate artistry with the bean, every step of this art of chocolate making, and these were the most exotic heavenly chocolates, I tasted.

The process of roasting, cracking, winnowing, conching and tempering carefully controlled cacao beans from carefully selected plantations in Kerala is undertaken to ensure that each batch is of the highest quality and produces flavours that are worthy of indulgence. As a result of our commitment to the highest quality ingredients and sustainable sourcing, we have become India’s first certified organic & fair trade chocolate maker.

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