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Here is an excerpt from BW Disrupt's conversation with GrowthJockey Founder and CEO Ashutosh Kumar.
Building ventures, especially tailored for large enterprises, demands expertise in scouting strategic opportunities in future businesses aligned with the enterprise's goals and aspirations. This requires specialised capabilities to navigate the entire 0-100 journey effectively. GrowthJockey integrates deep technological expertise with ambitious entrepreneurial spirit to drive innovation at a substantial scale. Utilising its expertise in design thinking, digital technologies, strategic consulting and business operations, GrowthJockey has established a unique position for itself. The firm’s approach is supported by its evolving incubation playbook that ensures delivering comprehensive solutions tailored to the unique needs of each venture, thereby enabling corporate startups to grow exponentially right from the day of their inception.
“Our structured growth roadmap—from developing MVPs, POC, PMF to rapid scaling—ensures precise execution at every phase,” says GrowthJockey Founder and CEO Ashutosh Kumar. “GrowthJockey’s intellsys.ai serves as a strategic AI infrastructure designed to harness digital data and empower companies to operate within a dynamic environment using real-time insights.”
From Trumigo to Dailybloom IBS and Lectrix, ventures incubated by GrowthJockey testifies how tech-first transformational approaches can do wonders for corporate startups. The company has incubated more than 25+ ventures and is paving the way for an evolved, flourishing and dynamic ecosystem for corporate startups across the globe. These incubated ventures belong to Fortune 500+ companies and are operational across industrial domains including EVs, BFSI, Consumer Electronics and D2C. “The success story of SleepyHug is the talk of the town,” says Kumar, “Our incubated ventures are achieving 100 crores of Annual Recurring Revenue (ARR) in the first year, demonstrating the prowess of holistic solutions offered by us.”
As far as growth plans for FY 24-25 and beyond are concerned, the company has set the target of ramping the annual incubation rate from existing 10 ventures to 50 ventures. They are also intensifying efforts to expand its intellsys tech accelerators and AI Modules to unlock the pace and scale of its ventures. Additionally, the aim of GrowthJockey is to expand its presence globally by launching operations in key markets such as the US, Dubai and Singapore. “In sum, our focus at GrowthJockey is to deepen venture-building capabilities and position ourselves as the preferred partner for both established companies and corporate startups and be recognised as a leader in building disruptive businesses,” Kumar envisions.
GrowthJockey’s revenue model comprises various streams reflecting the diverse offerings of our company. It generates revenue through institutional incubation, strategic growth partnerships, and intellsys.ai, its AI infrastructure platform. Additionally, GrowthJockey’s involvement in venture building includes equity stakes in corporate startups, and generating revenue through strategic exits.
In terms of growth, GrowthJockey is expanding its venture portfolio by incubating approximately 50 ventures annually, focusing on existing and additional industries, and expanding overseas. “We are also aggressively investing in talent acquisition, aiming to grow our team size to 300 to 400 this year,” he highlights. “Furthermore, we are doubling down on our investment in proprietary technology capabilities, particularly in ‘tech-accelerator product modules’ and AI division within intellsys.
“At GrowthJockey, technology isn't merely a tool; it's the cornerstone of our venture-building philosophy,” Kumar underscores. “Our revolutionary approach to setting up and running successful businesses revolves around in-depth comprehension of our client’s journey from 0 to 100. We understand that building a new venture requires a specialised playbook covering every facet of venture incubation, from inception to scaling” he adds.
GrowthJockey’s venture architects possess an innate ability to identify opportunities and develop scalable solutions by integrating technology seamlessly into every stage. With a focus on technology-enabled, digital-first ventures, the company combines profound expertise in tech, product development, go-to-market strategies, growth and business operations with unparalleled agility.
Unlike conventional methods where large enterprises struggle with coordinating multiple agencies and consulting partners, leading to a loss of synergy, GrowthJockey has built core capabilities of incubation in design, tech, product, GTM, P&L and business operation to ensure a streamlined process. “Our integrated approach ensures meticulous execution from ideation to MVP, POC, and PMF within a controlled environment,” he underlines. “By consolidating tech innovation, agile methodologies, and top-tier talent, we have built a formidable ecosystem that drives transformative solutions in venture incubation and digital transformation, helping us redefine success in the corporate startup landscape.”
“In the realm of business evolution, the distinction between a venture architect and a digital marketing agency lies in their fundamental roles and approaches,” Kumar dwells. A venture architect typically focuses on building and growing new ventures from the ground up. They are involved in various aspects of the venture's development, including ideation, strategy, business model design, product development, and scaling. Their goal is to create sustainable and successful businesses. On the other hand, a digital marketing agency primarily specialises in marketing and advertising services, especially in the digital realm. “While digital marketing agencies may contribute to the growth of a venture by increasing its visibility and attracting customers, their scope is generally narrower compared to that of a venture architect,” he stresses.
Digital marketing agencies operate within defined rules and established frameworks, focusing on promoting existing products or services through various online channels. Conversely, venture incubators are “Design & Build” specific, scouting strategic opportunities for their Enterprise partners, and building ventures right from ideation to the decent scale. This requires deep entrepreneurial domain expertise, along with abilities to think, design and build the product and business with a clear future vision in the dynamic world. “Once PMF has been achieved, the role of Digital Agency comes into play to drive the growth of the venture through various digital initiatives where the strategic GTM is defined and anchored by the Venture architect,” Kumar Concludes.
