When AVI Healthcare started manufacturing Infant Care Medical Equipments in April 2011, we had hardly Rs 50,000/- in bank balance and no working capital. AVI was almost unknown. My father just had had an acrimonious breakup with my uncle in his Partnership Company where he had faced big loss. We worked on complete product range with an aim to manufacture low cost, innovative and safe products for premature babies. We focused on product design and were aided by some young and bright engineers.
We developed some innovative products such as TransNANO Transport Incubator, AVIA TransVent Transport Ventilator, Bilipad LED Phototherapy for which we received numerous awards. We received appreciation from various neonatologists for our products. Our company was also featured in NDTV Prime/Profit’s Healthcare segment.
ET’s Power of Ideas was a great learning experience. Our company was selected among the 20 finalists to receive CIIE Funding. Lectures were conducted by eminent faculty and industry person at IIM Ahmedabad which were encouraging. Mentors also gave valuable inputs. Most inspiring part was interaction with some bright minds and getting to know about some innovative ventures selected in Power of Ideas.
Today, we have established ourselves as one of the major player in Neonatal Medical Equipments market. We have grown by more than 500% since then. We have exported our products to more than 15 countries. We have invested in increasing our production capacity by having our own fabrication unit and buying more factory space. We have recently bagged some big Government orders which have enabled our products to be used by Rural Primary Health Centres and Community Health Centres. This has only increased our resolve to contribute the most towards reduction in Infant Mortality in India by manufacturing Innovative products.
For me, SmartRx was a personal ambition to impact lives of immediate family and millions of Indians with chronic conditions such as Diabetes, Hypertension etc. This is my second venture having led a company in the US from inception to 5 million dollars in revenue in the US before it was acquired. So moving back to India, I was sure I will restart my entrepreneurial journey but had lot of apprehensions about doing it from scratch in a new area and environment.
ET Power of Ideas came to the rescue and provided me the right platform. It was a wonderfully organized program. First it put a bunch of smart selected people with great ideas and passion for startups together in a wonderful locale at IIM-A. The program gave a structure to our thinking and plans and helped put together the blueprint for the startup in the shortest possible time.
Being part of the program and recognition helped secure funding from Ventureast Tenet Fund and became crucial for some of the awards we received as a company from GSF, TiE-50 and others.
My advice to all budding entrepreneurs would be that while is a deluge of new startups now, listen to what excites you and commit to that dream and follow it. Use POI to fine tune and put structure around your startup and execution. We all know execution is key and POI mentors and peer group will help a lot in that.
TechnoPurple came into existence with the 2010 edition of The Economic Times Power of Ideas. Out of 16000 companies, TechnoPurple was able to make the cut in top 25 and win Rs. 5 Lakh grant from Department of Science & Technology (DST), Govt of India, & IIM Ahmedabad.
Economic Times Power of Ideas has had a very deep impact on the journey of TechnoPurple. It was something similar to the impact that “Wipers” have on a car on a rainy day. Before Power of Ideas, the vision was blurry, we did not know where to start, what to focus and what to aim for. Writing a Business Plan to participate in Power of Ideas educated us about so many aspects about business like market size, competition analysis and financial projections, and helped us in identifying key differentiators. Training at IIM Ahmedabad was the pinnacle of Power of Ideas. It successfully compresses a 1 year course into 15 days of action packed sessions, educating us about all aspects of entrepreneurship.
After Power of Ideas, we were able to attract right talent, learn delegation, add first set of customers, pivot when business demanded and mostly importantly achieve global scale with minimum investment.
Being a woman is tough and being a woman entrepreneur is tougher in this cut throat male dominated startup eco-system. However, I strongly believe that when a woman sets her heart and strength to achieve something, she can create disruption in every way. My story as the Co-founder of Gray Routes is not just limited to turnover, targets, product, sales and marketing. My journey has been also about self-actualization, about stepping out of the comfort zone, about putting every bit of might and strength into achieving the goal of the company, and in that process, getting liberated from all pre-conceived notions, from what people think about woman entrepreneurs and all kinds of patriarchal perceptions. It is easy to lose your voice sometimes when you are trying to fight it out and carve a place for yourself in the over-crowded startup eco-system. Sometimes, all you need is a little push, a little bit of recognition, a mentor who can help you take decisions and guide you in making your Business Model Canvas and finally the opportunity to pitch and raise funds. ET Power of Ideas 2012 did help me take by first baby step into entrepreneurship.
My co-founder and I went into the world’s largest platform for startups in 2012, and we weren’t even a startup! It was just me, my partner and the barebone concept for what later turned out to be a market defining mobile app. We looked at the competition and there were 10+ year old profitable companies and patented solutions, and despite all odds we made it to the Top 75 finalists. The 10 day workshop was super-exciting where each day we improved our startup “idea" using tools like Business Model Canvas and Creative design. Sunil Handa and Sanjeev Bikhchandani’s talks gave us a level of clarity about angel funding and when to seek VC funds, if at all. Since the contest, we’ve quit our day jobs, ventured full time, developed patent-pending technology that matches Google in transportation technology, and acquired 350+ clients like P&G, GSK, HUL, have achieved profitability in last mile software solutions, with an employee strength of over 100, and over 6000+ delivery men on our open marketplace platform, including the world famous Dabbawalas, who placed their exclusive trust in our vernacular-friendly delivery technology to rearm them for the modern day hyperlocal businesses. This platform has allowed us to attain leadership at an industry level, a national level, at an International level in RAE Fellowship, and most importantly, at a personal level, truly convincing us about the Power in our Ideas.
The journey of The Fluid Motion began almost 8 years ago. Tech enthusiasts Raghav and Abhinav Aggarwal were still students, with Raghav in his second year of college and Abhinav in high school. Both of them had plans to embark on a financial and business education path (which they did succeed in – Raghav has finished his CFA and Abhinav has done his CA).
However, their strong passion for engineering ensured that they embark on a fast-track in the field of cutting edge software technology. The self-taught coders started off by building India’s first anti-exam paper leakage platform, www.exampapersonline.com and then went on to build highly scalable learning management platforms for schools and colleges across India.
One night, while watching Minority Report, an idea struck them. They wanted to bring the future of technology to the present. They started working on Gesture technology, which allows a person to control electronic devices from a distance with just the use of hand gestures. However, the resultant product, although a true technical marvel, was finding difficulty in breaking sales.
In 2012, they were selected for the 10 day workshop at IIM Ahmedabad through ET’s Power of Ideas program. The talks and discussions helped them realize what they were missing – a recognizable brand. “A great product does not sell itself. Businesses and enterprises buy returns on investments,” says Abhinav. They doubled their efforts in marketing and branding, and finally broke out of the mould. After a couple of high profile deployments, enquiries started to flow in. “The exceptional connectivity that POI gave us, also helped us leverage that network to grow our business,” says Raghav.
During their journey, Raghav got into IIM Ahmedabad and Abhinav got into ISB Hyderabad for their respective MBAs. However, both of them decided to drop out the programs, as they felt that POI had already equipped them with the necessary tools and acumen required to build a scalable, tech forward and high impact business.
Today, their brand, the Fluid Motion boasts, of a high flying clientele, including Vodafone, Rolls Royce, Deloitte, Toyota, Reliance, Hero Motocorp, Intel and Microsoft. Their swanky office at Indiabulls Finance centre holds over 40 employees. Both Intel and Microsoft have voted them as one of world’s top gesture platforms. This year, they will be completing deployments across 25 countries, including UK and Europe. Inspired by sci-fi movies, the brothers have now also ventured into artificial intelligence. This highly innovative start-up has achieved incredible success and continues to bring “wow” products to the tech marketplace.
Ever since I was a kid, I have been motivated to solve my own problems. This attitude led me to founding this company to make learning experiences better for students like me who are a misfit for the traditional education system. When I started, I knew so little but I was determined to create real impact and make a difference in lives of people
I started up in college in early 2011 as a final year mechanical engineering student. My team and I started off with a different hardware based business but had to pivot to the current form of being a curated marketplace for classes and activities. However, we had to shut it down and let the team go, it’s one of the lowest point in my life. But, that same experience became a big learning and led us to the current venture which has been a major hit in itself. Our failure at one point led us to another problem that we are highly equipped to solve today. I guess this is what entrepreneurship is about where you are always learning from the best as well as worst moments.
The Economic Times Power of Ideas program was the stepping stone which made us believe that we are among the big league startups of India. It helps us gaining the confidence to just do it, there is nothing more, nothing less. As we incepted our startup and participated in Power of Ideas, I learned at every moment of mentorship program while meeting some phenomenal entrepreneurs, interacted with great mentors and pitched to a power packed judges. It gave us a great exposure to young entrepreneurs like us.