Entrepreneurs are the lifeblood of any nation’s economy. With uninhibited thinking, they turn seemingly weird ideas into business plans. India is rapidly emerging as the hub of entrepreneurial activities, as could be gauged by flourishing startups. The country is home to over 85 unicorns and the valuation, estimated at $87.89 billion recently, is set to grow.
But mere entrepreneurial zeal isn’t sufficient to sustain a business. An engaging business meet was organised on February 3, 2023, in Ahmedabad, by a global start-up network, e-Chai Venture, and DevX Venture Fund. During the event, emerging entrepreneurs concurred that unwavering focus, building innovative products, finding the right mentors and investors, and sustaining the priceless capital called health are the key ingredients for startup founders.
This national television reality show called ‘Shark Tank India’ witnessed a confluence of entrepreneurs who shared their stories about business challenges and lessons learned from failed ventures.
Jatin Chaudhary, the co-founder of e-Chai, told the Vibes of India, “I was struggling as a student. I thought I didn’t have enough support. In 2009, there was a buzz about entrepreneurship, and that’s how we started e-Chai. What we do has massive potential.”
The co-founder of Nuutjob, Ananya Maloo, shared her experiences as a female entrepreneur. She said that apart from investments, businesses need the right mentoring too. “The key is to realise who can make your business fly,” she said, adding that Gujarat was a flourishing ground for entrepreneurs.
Jignesh Vasavada, the founder of Tathastulive.com, discussed the importance of researching while starting a business. He provided valuable insights on staying focused, building ready-to-go compelling products, and how to keep your eyes on the prize.
The range of different ideas was on display, with a mother and son duo, Payal Pathak and Soham Pathak, sharing the vision of their company called The Simply Salad, dedicated to a healthy lifestyle. And how about a napping pod, with all the comforts like a zero-gravity seat, meditation music, ventilated seat, oxygen therapy, and body massage rolled into one? Jainam Mehta, the founder of UrbanNaps, has a vision to take sleeping naps products, one of their kind, to the international market.
A caveat. Business founders, consumed by their passion to create something new, often become victims of burnout. Shani Pandya, the founder of Imagine Powertree, revealed the mistakes he made, the struggles he faced especially during partnership failures, and the loss of invaluable resources owing to resignation. This took a toll on his health, an often-ignored aspect.
The event ended with an illuminating Q&A session. Reflections that should hold them in good stead in their entrepreneurial journey.