As Indian startups navigate an increasingly competitive landscape in 2024, there is a growing emphasis on sustainable growth and a balanced approach to scaling businesses.
Entrepreneurs are expected to demonstrate more mature strategies, focusing not just on rapid expansion but also on achieving long-term profitability. This shift reflects a broader trend towards sustainable practices and prudent financial management, signaling a maturation in the startup ecosystem where enduring success is prioritised over short-term gains.
Sustainable Growth Over Hyper-Growth
Varun Madan of Salad Days emphasised the importance of prioritising sustainable growth over the pursuit of rapid, hyper-growth. He acknowledged that while funding can address many business challenges, it is not a panacea for all problems.
"We have seen how the funding environment fluctuates and how different sectors gain and lose attention. During this time, I chose not to focus on hyper-growth. Money solves a lot of problems, but not all," Madan explained. He advocates for a slow and steady approach, believing that sustainable growth should be the primary focus in today’s economy.
Financing Transition To Sustainable Technologies
Dev Arora, Co-founder and CEO of Alt Mobility, highlighted the significant capital required to scale technologies that combat climate change. "The problem we are solving is access to finance, especially for hardware related to climate change. Whether it’s solar assets or electric vehicles, there is a considerable capital investment needed for these technologies to scale," Arora noted. His insights underscore the critical role of financing in driving the transition to a sustainable future, where the need for substantial investment cannot be overlooked.
Creating Real Value In Traditional Industries
Ankit Jaipuria of Zyod, a tech-enabled apparel manufacturing company, brought attention to the importance of having long-term goals and creating tangible value for customers. "You have to be clear about the actual value your solution is providing and the change it brings to the lives of customers and the ecosystem," Jaipuria said. He emphasised that understanding and solving real pain points is the cornerstone of building a successful company in a traditional industry like apparel manufacturing, which demands hard work and perseverance.
Nutraceuticals: A Growing Industry With Strong Foundations
Amol Sehgal, Co-founder of Physiovits, discussed the rapid growth of the nutraceuticals industry, particularly in the realms of healthcare, wellness, and skincare. "Nutraceuticals were projected to grow to USD 27 million by 2027-28, but we have already crossed that number," Sehgal revealed. He stressed the importance of a strong regulatory framework and thorough research in this sector, especially in the wake of the COVID-19 pandemic, which has heightened awareness of health and wellness. Sehgal’s insights highlight the lucrative opportunities in the nutraceuticals industry, which is already outpacing expectations.
Experts emphasis on the importance of balancing growth with sustainability, the need for significant investment in climate technologies, and the critical role of long-term value creation in traditional industries. As these entrepreneurs demonstrated, while the paths to success may vary across sectors, the focus on building a solid foundation and addressing real-world challenges remains a common thread in the journey of scaling businesses in today’s economy.
In a panel discussion titled "The Era Of Indicorns: Scaling Gazelles For Market," leading entrepreneurs from various industries shared their perspectives on the challenges and strategies of scaling businesses in today’s dynamic market environment. The panel, chaired by Priyanka Sachdeva, Founder and CEO of Core and Pure, featured insights from Varun Madan, Founder and CEO of Salad Days; Dev Arora, Co-founder and CEO of Alt Mobility; Ankit Jaipuria, Co-founder of Zyod; and Amol Sehgal, Co-founder of Physiovits.
