Sun. Feb 25th, 2024

XLRI PGDM (GM)

5 February 2024:  The INGENIUM Startup Conclave has successfully concluded, showcasing a dynamic platform that celebrated and recognized innovative leaders and entrepreneurs. The event provided an engaging environment for exploring the journeys of these trailblazers through insightful panel discussions and interactive sessions. It delved into the secrets behind their successes, offering valuable insights into the intricacies of establishing pioneering ventures. Emphasizing the crucial need for organizations to be agile and future-ready in an ever-evolving business landscape, the symposium proved to be a significant and impactful gathering. Start-ups play a vital role in competitive markets with their focus on innovation, and new markets/products. They provide dynamism to markets and offer more efficient ways to enhance consumer welfare. In this backdrop, this conclave is an attempt to bring different stakeholders together on a platform for the exchange of views to create a better understanding of the start-up ecosystem and competition.

Students Poonam Shree, Sugandha Singh, Rohan Khanna and Anukriti Srivastava were Moderators for the session. Also including, Pranav Varma, Oiendrila Mukherjee, Vanshdeep Singh Rathod and Shalini Bhardwaj as host and co-host for the event aalong with Conclave Committee members Yashank Tiwari, Neelesh Gupta, Tushar Batra and Kashyap Kompella.

It started with the Inaugural Address by Prof. Sunil Sarangi, Entrepreneurial Cell, XLRI Jamshedpur. Professor Sarangi addressed the audience and thanked the speakers for taking the time to interact with the students of XLRI. He requested the speakers to share their life stories with the students as he believes that effective change in a student’s mindset comes from inspiring stories. He also thanked the Conclave Committee and the organizing team for organizing Ingenium. During his speech, he encouraged students to ponder over their entrepreneurial concepts. Additionally, he suggested that students engage with others to transform these brilliant ideas into tangible realities.

The first panel featured an insightful discussion titled “Decoding Dhanda: Hacks to make a Profitable Business” with distinguished speakers sharing their expertise. The panel included Pradeep Jadhav, Co-Founder, Thoucentric; Dr. M.A. Maluk Mohamed, Co-Founder, Twin Health; Amrendra Singh, Co-Founder, DeHaat; and Ish Babbar, Co-Founder, InsuranceDekho. In a landscape rich with challenges and opportunities, the entrepreneurial luminaries provided a nuanced perspective on the intricacies of managing a Bootstrap business during a riveting discussion. The panelists articulated the indispensable elements of success, emphasizing a profound understanding of business dynamics, the articulation of a compelling core value proposition, mastery of core unit economics, and the ultimate achievement of profitability. With a keen focus on the entrepreneurial journey, the speakers shared insights into the virtues of self-discovery and the merits accrued through the challenges faced. They underscored the imperative of maintaining a resilient mindset, persevering through adversity, and adapting to rough terrains in the pursuit of establishing and sustaining a startup. The entrepreneurs also acknowledged the necessity for strategic pivots in response to evolving challenges, recognizing that addressing underlying problems may demand multiple course corrections. Furthermore, the panelists collectively emphasized the pivotal role of technology, particularly in the B2B sector, as a transformative force essential for overcoming obstacles and driving business growth. This illuminating discussion provided a wealth of insights for aspiring entrepreneurs navigating the complex intersection of sustainability, innovation, and economic success.

In a captivating second panel exploring “What is the next-gen thinking: Catalyzing the Gen Z & Millennials Thinking in the Indian Startup Ecosystem,” key figures in the startup landscape convened to share their insights. The esteemed speakers included Nishan Kapoor, Founder, Corrit Electric Pvt. Ltd.; Varun Mahna, Co-Founder, PokerDangal; and Abhishek Sharma, Founder, RoboChamps by BrightChamps.

During the insightful event, the discussion unfolded with a reflection on the business endeavours of the speakers. They stressed the critical importance of active involvement throughout the entire lifecycle of a startup. Founders, viewed as crucial aspects by investors, were encouraged to narratively describe their product concisely. The holistic evaluation of a startup, considering the fundamentals of the business model, founders, and customer needs, was highlighted before deciding on funding. The speakers emphasized that, at a certain point, investors require a unique story for investment, emphasizing the practicality of negotiations at the table over theoretical discussions. Drawing distinctions between running a company and creating an investment-ready one, the speakers underlined the importance of understanding the model that aligns the company with investors for success. In the context of India’s vibrant landscape, the discussion concluded with the assertion that those presenting disruptive ideas are poised to seize the financial opportunities available. The data shared during the event underscored the significance of technology penetration in product development for any generation, recognizing the emotional and socially conscious nature of Gen Z and Millennials. It emphasized the importance of setting goals while allowing creative problem-solving for effective management of these generations.

In the latest panel discussion, distinguished speakers illuminated the topic of “Crafting a Brand: Tactics, Narrative and Sustainability.” The insightful dialogue featured thought leaders including Tarun Katial, Founder & CEO, Coto; Bhaktha Keshavachar, Co-Founder & CEO, Chara Technologies; Vaibhav Khandelwal, Co-Founder representing Shadowfax; and Reeju Datta, Co-Founder, Cashfree. The panelists delved into the intricacies of brand development, emphasizing tactics, narrative construction, and sustainability measures. This dynamic exchange of ideas provided a comprehensive exploration of strategies essential for crafting a brand in the contemporary business landscape, drawing from the diverse expertise of the esteemed speakers.

The discussion delved into the intricate dynamics of building a brand in the Indian entrepreneurial landscape. The speakers began by recounting their diverse business endeavours, emphasizing the importance of active involvement throughout a startup’s entire lifecycle. They highlighted the pivotal role of founders in the eyes of investors, stressing the need for a concise narrative description of the product. Investors, they noted, look at a startup holistically, scrutinizing the fundamentals of the business model and its alignment with customer needs. The discussion shed light on the evolution of the investment story and the practicality of negotiations at the table, distinguishing between running a company and creating an investment-ready one. In the vibrant Indian landscape, the speakers concluded that those with disruptive ideas stand to seize the financial opportunities on the table.

The grand event was concluded with a Vote of Thanks by Prof. Sunil Sarangi of XLRI summarizing the whole session & bringing it to a delightful close. The event was organized seamlessly under the able guidance of Prof. Kanagaraj Ayyalusamy & Ms. Anshu Kumari and the entire Conclave Team.

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