2. 2
Executive Summary
The 'Startup Summit 2016' explained the nitty-gritty of starting a new startup venture in today's
competitive and dynamic environment. The Summit aimed to bring together key stakeholders,
startup accelerators, investors, venture capitalists, mentors and experts with immense
experience coming from distinct areas of entrepreneurial ecosystem.
The summit was divided in four separate sessions all having different topics touching the
nuances of Startup ecosystem in India, the opportunities and challenges ahead for the
entrepreneurs. Following were the four sessions -
● Session 1 - The Great India Startup Vision - Where Next?
● Session 2 - Raising Capital for Startups and MSMEs
● Session 3 - Startup to Scale- Up
● Session 4 - (Workshop) Storytelling for Founders
The essence of discussion in all the sessions was on the existing opportunities for Startups in
the country and how these opportunities can be utilized in a way to get the best of results for
the entrepreneurs. The potential is there in the country, only thing which is required to tap
these potentials constructively so that a better future can be built. The efforts to mold a
'Jugaad' into a full-fledged 'Innovation' or 'Indovation' (as described by one of the speakers) will
require a helping environment where these innovations can be converted into sellable products
or ideas, so that more and more people with entrepreneurial spirit and great ideas don't
hesitate in starting there entrepreneurial journey and help make this country a Startup hub.
3. 3
INTRODUCTION
Creating an ecosystem to promote Startups and spirit of entrepreneurship is critical to boost
private investment into the economy to further increase the pace of economic growth.
According to latest data, startups have already created 80,000 jobs. The Action Plan for startups
unveiled by the Prime Minister is expected to act as a catalyst to permit free and fair
competition for viability and existence of startups.
As per NASSCOM, 2015 report, India ranks third globally in the number of startups that stood at
4,200. They are expected to go beyond 10,000 in numbers by 2020. The promising startup
verticals are Internet of Things (IOT), data analytics, health tech and hyper local e-commerce to
name a few. Indian entrepreneurs have depended on foreign capital for seed funding in the
past. But, the new policy shall create the momentum for the creation of seed capital within the
country. New policy is aimed at promoting bank financing for startup ventures to boost
entrepreneurship and encourage start-ups with job creation.
In this backdrop, the PHD Chamber Startup India Summit 2016 was organized with an intention
to share nuances of starting a business in today's highly competitive and transitional time. The
summit aimed at providing a platform to budding entrepreneurs to listen and interact with
startup incubators / accelerators, angel investors, venture capitalists, mentors and technology
corporations. The Summit also envisaged creating self-reliance and building up of a strong
startup community spirit by promoting entrepreneurship.
4. 4
OBJECTIVES:
The Startup Summit 2016 was organized to attain following objectives-
To bring together various key stakeholders like startup incubators / accelerators, angel
investors, venture capitalists, mentors and technology corporations on a common platform
to deliberate on critical issues pertaining to scaling up the startups
To share the experiences of successful startups with special reference to MSME sectors.
To envisage for creating a self reliant and building up of a strong startup community spirit
by promoting entrepreneurship among the target audience.
PROCEEDINGS:
SESSIONS’ SUMMARY:
Session -1: The Great India Startup Vision- Where Next?
Panel Members:-
Mr. Deepak Pahwa, Chairman, Innovation Committee, PHD Chamber; Group
Chairman, Pahwa Group & MD, Bry-Air (Asia) Pvt. Ltd.
Keynote Address by Mr. Arun Kumar Jha, IES, CEO, Khadi & Village Industries
Commission(KVIC), Ministry of MSME, Govt. of India
Mr. Paritosh Sharma, Head, Channel Partnerships, PayUMoney (Moderator)
Dr. Ajay Data, Founder & CEO, Datainfosys Ltd. & Chairman, Rajasthan Committee,
PHD Chamber
Mr. Romesh Sharma, Founder CEO, SIMPLIFLYERS Solutions
Mr. Ashu Agarwal, Director, BW Accelerate
The summit kick-started with the introductory remarks by Dr. Jatinder Singh, Sr. Secretary PHD
Chamber of Commerce. While giving the preamble of the summit he spoke on incremental and
break through innovations. He talked about nineteen agenda points introduced by government
through which it is making an attempt to encourage startups and motivating youngsters
towards becoming a job-provider rather than a job–seeker. He was quite enthusiastic that this
policy will provide a major boost to mobilize the immense potential of the Indian youth which is
lying untapped and unutilized.
5. 5
The welcome address was delivered by
Mr. Deepak Pahwa, Chairman of Innovation
Committee, PHD Chamber and Group
Chairman of Pahwa Group & MD of Bry-Air
(Asia) Pvt. Ltd. He suggested that an
organization must do SWOT analysis and
make an elaborate analysis of its failures to
improve its strategic plans. In order to
establish a healthy business environment one
needs to think in innovative manners which
can be done by scanning the business
environment intelligently. He expressed a lot
of satisfaction on how the youth of today is
progressing. He compared his own genre with today’s and clearly stated that they are much
more hungry for success and want to achieve a lot. He cautioned the delegates that failures are
an integral part of any journey and business is no exception to it. Failure is not an issue but
getting demotivated by it is a matter of concern. He also elaborated on various obstacles that a
startup faces like government approvals, competition, capital raising, etc.
He advised, “FAILURE MUST BE SEEN PROPERLY AND TAKEN IN STRIDE”.
The keynote address was given by Mr. Arun
Kumar Jha, IES, CEO of Khadi & Village
Industries Commission (KVIC), Ministry of
MSME, Govt. of India. According to him, a
startup requires an idea, capital and funding,
innovation which can actually help to make
the presence felt in the market. He was of
the opinion that to be successful, one needs
to challenge one self, and challenge the
present state of norms. He also shared his
experiences of working at KVIC. He was very
excited to share the details about solar
charkha.
With demand of KVIC products on gradual increasing trajectory and the Government’s
supportive policies towards promotion of Khadi products within and outside India, the
Commission has set a target of hiking its market share to a level of 5% in next 2-3 years with its
participation, involvement and partnership spirits with evolving disruptive innovations for the
sector’s betterment, said Mr. Jha.
6. 6
“KVIC which falls under the jurisdiction of Ministry of MSME is also at the advanced stage for
finalizing incentives and sops for startups in the MSME segment to share their ideas and
technological innovations so that this segment of the Indian economy transforms to the
intended level as it is one of the backbones of the Indian economy”, said Mr. Jha pointing out
that the government is likely to notify these from April 2016.
This session was kick started by session moderator Mr. Paritosh Sharma, Head, Channel
Partnerships, PayUMoney. He started by asking a common question to all the panel members
present over there.
What are the top 3 key future ideas or innovations that the panel members are bullish about?
Dr. Ajay Data, Founder & CEO of Datainfosys Ltd. & Chairman, PHD Chamber, Rajasthan
Committee, told that in case he has to select top three then first is IOT. It allows the objects
that we use every day like microwave, air conditioner, gas, and car would talk to each other. For
example
1. We can instruct our devices to do things for us.
2. IP version 6 which is getting rolled out and will allow almost every single object on earth to
get IP address and they will able to communicate, that means the trees too can communicate.
3. Future homes build by Microsoft. It does not have any locks or remotes, it works almost by
the odor of the body, it opens only when the owner comes. Its walls and perfume changes
when someone enters the room according to the person. It is like innovation is changing our
life.
7. 7
In response to the same question, Mr.
Deepak Pahwa emphasized lot of changes
that are taking place in technology. For
example, Automobiles have gone a lot of
changes from the time they came into
existence till now and we are reaching a point
where the technology is integrating the
Enablers to where we will have a driverless
car. The things that one don’t feel or
understand today are two great things that
are happening behind the scene which can dramatically change our lives. A lot is happening on
the material side. The other thing is that in future there will be an acute shortage of
mathematicians because everything around us will be based on algorithms.
Mr. Romesh Sharma, Founder CEO,
SIMPLIFLYERS Solutions was pretty bullish in
terms of development and understanding
and the reach for the financial sector.
According to him, there is a lot to be done as
people don’t know what is being held at the
banks and other financial institutions. They
only know what is being told by the media.
There is a huge understanding and scope for
the young generation in the financial sector. Secondly, he was bullish about health care,
according to him still 2/3rd
of the world’s population can’t have what they need and all progress
is nothing if we can’t afford proper health. There is a huge scope for this generation to take the
health care to the next level. And the thirdly, he would go for education. In this sector what has
been done in last 5000 years could be done and should be done in next 5 years.
Mr. Ashu Agarwal, Director, BW Accelerate
shared that opportunity is everywhere; we
just need to build a lot of depth. He told that
for at last two years he is looking at the
business models which are focusing on
distributions and believes that the product
economy will pick up in the next two years,
what we just need is distribution play which is
going to keep the consumers engaged and
interacting which will eventually translate into
a lot of product consumption.
8. 8
Mr. Paritosh Sharma’s two thoughts for future startups were, one was STRESS and the other
was TRUST. According to him these both are incredibly phenomenal business models. For
example Patanjali; a company which started from pharmacy is basically a mix of trust and
relieving the customers of stress. Similar to this India specifically as a country can contribute a
lot because it has that background of Sanskrit and technology that is required. Mixing both we
can create a great business model which can be rolled out as a startup.
Session-2: Raising Capital for Start-up & MSMEs:
Panel Members:-
Mr. V K Mishra, Director, Lakshmi Energy and Foods Ltd.
Ms. Ritu Marya, Editor-in-Chief, Entrepreneur, Franchise India Media
Mr. Alok Gupta, Director, Graphisads
Mr. Ambarish Gupta, CEO, Founder, Knowlarity Communications
Mr. Harsimran Julka, Associate Editor, Tech in Asia (India) (Moderator)
This session started with request to participants of introducing themselves by the moderator of
the session, Mr Harsimran Julka, Associate Editor of Tech in Asia (India). The deliberations went
as follows:
9. 9
Ms. Ritu Marya, Editor-in-Chief, Entrepreneur, Franchise India Media deliberated on starong
mentorship for startups and strategies to raise funding.
Mr. Alok Gupta, Director of Graphisides is a second generation entrepreneur. He stressed that
no one can become an entrepreneur by seeing other it has to be inbuilt. One should have
passion to be an entrepreneur, to do something, to achieve something. Entrepreneurship is not
sweat equity rather it is blood equity. Every investor looks for quick and stable returns, no one
here is to burn money.
Mr. V K Mishra, Director of Lakshmi Energy and Foods Ltd., said that funding is very important
for a company. One has to satisfy equity share holders and bankers. The expectations of foreign
investors are too high and they do not care about the revenue model and revenue stream,
therefore sometimes satisfying an investor can be a challenge for an entrepreneur. When using
investor money you have to run your company according them one has to be cautious as they
can wound up losing entire control of company. Service provided should be near perfect and
the customer should be treated well. Bootstrap rule should be followed by the new startups.
Mr. Ambrish Gupta, the CEO and founder of
Knowlarity communications, expressed that
it is very important to choose a right co-
founder. According to him building up a great
company requires building up a great
credibility with the stake holders. Credibility
is the most important thing, however money
allows you to make a lot of mistakes and not
die. Managing stakeholders is very
important. Usually people try to first build
the product and then sell it to the customer. He suggested that it should be the other way
round; one should first try to sell first then build the product that will make sure that you
remain very customer centric right from the beginning.
According to Mr. Alok Gupta, business organizations put lot of emphasis on advertisement in
the initial phase of their existence itself. It is not advisable because it’s eventually how you treat
the customer, will bring him back to the company. But if it’s not then that customer is gone for
ever. It is said that one good customer brings seven customers along but one bad customer
takes away 21 customers from you. At the end of the day if your service to your customers is
good then you are sure to succeed.
Ms. Ritu Marya further added value to the discussion by saying that there are a lot of startups
that don’t have a revenue model when they start. They don’t know where they are going to
make money from and that is totally against the rule of sustainability. Pivoting is one of the
10. 10
most important things today which startups should be doing in order to reach that
sustainability. A customer is the best marketer one can get and digital is becoming a huge
market these days and it’s the easiest way to get into marketing.
Session-3: Startup to Scale Up:
Panel Members:-
Opening remarks by Mr. Anil Khaitan, Vice President, PHD Chamber
Mr. Anshul Dureja, CEO, Creating Values (Moderator)
Prof. Bibhu Biswal, DIC, Cluster Innovation Centre, Delhi University
Mr. Sandeep Singh, Co-founder, Freecultr
Mr. Nitin Bajaj, Founder & CEO, SponsifyMe
Mr. Rahul Garg, CEO, Moglix
Mr. Rana Atheya, Founder, DogSpot
Mr. Dhiraj Jain, Director, Deyor Inns Private Limited
Mr. Amit Pandey, COO, Inc. 42
The third session of the Startup Summit 2016 started with the opening remarks of Mr. Anil
Khaitan, Vice President, PHD Chamber, where he welcomed all the speakers, delegates and
students from different colleges. Mr. Khaitan started by defining Scale Up as to reaching to the
peak of a mountain. He stressed on the need of supporting and creating an ecosystem for
entrepreneurs so that there can be an environment for them to prosper. He talked about the
PHD Chamber's role and activities which have been taken up to promote the entrepreneurial
spirit in people.
Mr. Anil Khaitan also talked about
Government of India's initiative 'STARTUP
INDIA, STAND UP INDIA' and described that a
Startup can only Stand Up, when the founders
have the ability and vision to Scale it Up. He
described the importance of having a focus
towards the goal like 'ARJUN had his AIM only
at the Bird's Eye'. Having the focus only on the
vision people can 'Scale Up' there any venture
to new heights.
Mr. Anshul Dureja, CEO, Creating Values, stressed on the need of having focus towards the
vision in order to achieve the success. He discussed the fact to be 'effective' and 'efficient' in
order to get the focus only on relevant things.
11. 11
All the speakers talked in length about the challenges in Scaling Up the Startup, the intent to
take risk, shared the experiences of their journey so far on the entrepreneurial path. All shared
one common problem they all faced when they decided to go for a Startup, convincing their
parents about it. It was a lesson for all as one's a person pass on this hurdle he can go ahead to
challenge the risks of being an entrepreneur.
The highlights of the session can be put up in top quotes by the speakers –
Mr Sandeep Singh, Co-Founder, Freecultr, shared that to be successful in true sense one needs
to go against the tide. He should have the guts to do so. He told new concepts are not readily
accepted but if one has a passion towards its idea then nothing can stop.
Mr. Rahul Garg, CEO, Moglix and Mr. Nitin Bajaj, CEO and Founder, Sponsify Me suggested that
one should stick to the basics, because survival is the first challenge for any Startup. Don't lose
focus at any point of time or in any circumstance and be practical in the approach of dealing
with the challenges. Learn to say NO to irrelevant things and people as they can hinder the
success journey of your startup at any point of time.
Mr. Dhiraj Jain, Director, Deyor Inns Private Limited advised the new entrants that they should
get their fundamentals rights. He also cautioned them to have a clear idea about their vision
before they jump to start new venture. He gave a valuable input by telling that each one should
try to create value by virtue of your work and by no other short-cut means.
Prof. Bibhu Biswal, DIC, Innovation Centre, Delhi University shared his experience that he has
got while dealing with the students. He shared that many a times proper research is not
undertaken which results in the failure of the startups. He laid a lot of emphasis on conducting
proper research before starting up anything in order to scale it up. Initially, one should not be
after the money as it is the secondary thing what is more important is one’s vision and the
quality of work.
The essence of the whole session can be put
up in few words, as all the speakers right
from the start stressed on having the focus
and vision to achieve the success. As an
entrepreneur a person sell the vision, the
path to reaching to that vision can be difficult
but one need to have the intent to stick to
their fundamentals regardless of the
circumstances and get things done the way
they want.
12. 12
Session-4 (Workshop): Storytelling for Founders:
Speakers:-
Mr. Paritosh Sharma, Head, Channel Partnerships, PayUMoney.
Mr. Rahuel Stone, Co-Founder and Head Marketing & Strategy, Tenovia.
The fourth and the last session of the
Startup Summit was started by Mr.
Paritosh Sharma where he shared his
experience of entrepreneurial endeavors
so far and the idea and importance behind
the concept of storytelling. He described
in order make one’s story successful one
needs to have good character to build the
story, perfect timing and scenario for the
story to fit in the characters and a reason
good enough that people believe to it. He
said that in the current scenario the most powerful currency in the world is 'TRUST'. One needs
to build that TRUST with people so that one is able to gain credibility amongst people. Give
utmost importance to human relations because the business relation is HUMAN- TO- HUMAN.
The customer will be a MAN or WOMAN, so it's important the communication for the customer
should not be complicated, it must be clear and concise. Later, he highlighted the power of
imagination. According to him, it is a powerful tool and with the right execution anyone can get
the desired result. He suggested leaving space for interpretation and allowing people to create
their own meaning because that's the way they are going to come back to you in order to get
the clear meaning of their interpretation from you.
The next story was told by Mr. Rahuel Stone.
He talked in length about the evolving
system of 'e-commerce' and how people with
a Startup vision can gain from the already
established ecosystem of the 'e-commerce'.
He described 'e-commerce' as the big future
platform for Indian Startups. He said instead
of trying to establish a new 'flipkart' or
'amazon' people should try to grab the
opportunities provided by these 'e-
commerce' platforms, 100 billion of
opportunities are on the other side of these
platforms which can be tapped to achieve greater success.
13. 13
EXHIBITION:
Parallel to the Summit , there were an expo designed
as one stop for meeting technology suppliers, co-
branding alliances and opportunities to find new
customer base. This has provided opportunities to
the companies who are in phase of expansion and
growth to showcase their business solutions and get
prospective dealers and distributors.
The KVIC is charged with the planning,
promotion, organization and implementation of
programs for the development of Khadi and
other village industries in the rural areas in
coordination with other agencies engaged in
rural development wherever necessary.
Its functions also comprise building up of a
reserve of raw materials and implements for
supply to producers, creation of common service
facilities for processing of raw materials as semi-
finished goods and provisions of facilities for
marketing of KVI products apart from
organization of training of artisans engaged in
these industries and encouragement of co-
operative efforts amongst them. To promote the
sale and marketing of khadi and/or products of
village industries or handicrafts, the KVIC may
forge linkages with established marketing
agencies wherever feasible and necessary.
The DUCIC Technology Business Incubator
(MSME) was established with MoMSME Support
Grant for Technology Entrepreneurship in 2014
to encourage Entrepreneurs/Incubates to try
out their innovative ideas (processes and/or
products) at the laboratory or workshop stage
and beyond, to carry forward the idea from its
mere conception to know-how and then to do
how stage.
14. 14
GROUP PHOTOGRAPH WITH FOREIGN DELEGATES
Recommendations
Finding mentors who can hand-hold when stuck.
Opportunities -Availability of a large start-up ecosystem (startup village, incubators, idea
pitching workshops).
DIPP to be a single window coordinator.
Definition of the word startup has to be more liberal.
Industry chambers can hand-hold in the early stage of start-up
Creating a single window for helping budding innovators
Rules and regulations should be simple, clear and lesser in number.
Approvals should be fast and immediate with specified deadlines.
15. 15
Ecosystem should be developed which includes setting up of platforms where
individuals willing to be an entrepreneur may go and seek information, guidance,
mentoring, financing etc.
Big corporate houses can keep a provision of funding the new start-ups.
Industry chambers, federations, confederations should owe the responsibility to
provide inputs in terms of not only technical expertise but also of providing seed capital
to budding entrepreneurs.
Educational institutes should not only add but also lay emphasis on programmes related
to entrepreneurship to motivate the students to start their own ventures.
Press release for Start-up Summit
KVIC IN FOR ENHANCING ITS MARKET SHARE TO 5% IN NEXT 2-3 YEARS, SAYS IT’S CEO
AT PHD CHAMBER STARTUPS SUMMIT-2016
Khadi & Village Industries Commission (KVIC) which currently handles a business
turnover of about Rs.30,000 crores has set for itself a modest target of increasing its
market share in KVIC promoted products from existing 1% to 5% in next 2-3 years,
given their market demand in view of enhanced quality of KVIC products, according to
its CEO, Mr. Arun Kumar Jha.
Addressing a Startup Summit-2016 under aegis of PHD Chamber of Commerce and
Industry here today, Mr. Jha said, “the problem that the KVIC is presently grappling with
is on supply side and not on demand factor and it one of the reasons that the KVIC has
been concentrating on is its production facilities across the country through the help of
all its supply chain agencies”.
With demand of KVIC products on gradual increasing trajectory and the government’s
supportive policies towards promotion of khadi products within and outside India, the
Commission has set a target of hiking its market share to a level of 5% in next 2-3 years
with its participation, involvement and partnership spirits with evolving disruptive
innovations for the sector’s betterment, said Mr. Jha.
16. 16
“KVIC which falls under the jurisdiction of Ministry of MSME is also at the advanced
stage for finalizing incentives and sops for start-ups in the MSME segment to share their
ideas and technological innovations so that this segment of the Indian economy
transforms to the intended level as it is one of the backbones of the Indian economy”,
said Mr. Jha pointing out that the government is likely to notify these from April 2016.
The Startup Summit-2016 organized here by the PHD Chamber of Commerce and
Industry had participation from evolving start-ups such as Mr. Paritosh Sharma, Head,
Channel Partnerships, PayUMoney; Dr. Ajay Data, Founder & CEO, Datainfosys Ltd. &
Chairman, Rajasthan Committee, PHD Chamber; Mr. Romesh Sharma, Founder CEO,
SIMPLIFLYERS Solutions; Mr. Ashu Agarwal, Director, BW Accelerate among others.
The Summit was chaired by Mr. Deepak Pahwa, Chairman, Innovation Committee, PHD
Chamber in which the vote of thanks was delivered by Dr. Jatinder Singh, Sr. Secretary,
PHD Chamber.
For further details please visit the website:
http://www.indiastart-up.com
