Day 2 of TechSparks 2024 saw a dynamic exchange of ideas, as the visionaries, investors, and founders who are shaping the future of India’s startup ecosystem gathered under one roof to engage in conversations on innovation, technology, and entrepreneurship.
“When you have the spark, take the stage and make sure you are standing in the front,” Shradha Sharma, Founder and CEO of YourStory, had said on Day 1 as she set the tone for the 15th edition of TechSparks Bengaluru.
The second day of the three-day summit kicked off with a conversation with Naveen Tewari, Founder and CEO of India’s first unicorn, InMobi Group, who shared InMobi’s journey from an adtech company to one of the leading content companies today.
He detailed the scope of work in transitioning from a business-to-business (B2B) to a business-to-consumer (B2C) company, and the massive overhaul it demands in an organisation’s DNA.
“I think in the last seven years or so, as we decided to build the consumer platform on top of our enterprise platform, we went through a DNA change,” Tewari said during a fireside chat.
He also highlighted that the key to building long-term enterprises is having a dedicated team, particularly in leadership roles.
Day two also saw the launch of the coveted Tech30 startups list, comprising the up-and-coming powerhouses of the Indian startup ecosystem which YourStory believes are poised to become major players in transforming Bharat 3.0.
Next in the lineup was Baskar Subramanian, Co-founder and CEO of Amagi Media Labs, which has quietly emerged as one of India’s biggest $100 million annual recurring revenue (ARR) success stories. From starting at half a million dollars in 2016, the company today stands at $150 million today.
In a candid conversation with YourStory, Subramanian spoke about AI and how it is going to impact industries in the long run.
“AI is a transformative technology, and it is exactly where the internet was in the 1990s. The technology is at a very early stage in terms of how it is going to impact industries, and I think India has the talent pool to play a very large part in the development of AI.”
The company is also eyeing an IPO in the near future, Subramanian revealed.
We then heard from Phani Kishan Addepalli, Co-founder and CGO, Swiggy and Rohit Kapoor, CEO – Food Marketplace, on the foodtech’s journey to one of the country’s most anticipated IPOs.
Swiggy’s emphasis on always putting consumers at the centre of every decision—even at the cost of taking tough calls—has been the key to its success, according to Addepalli.
“It’s all about being obsessed with the customer. We’d rather not take business than do a bad job,” he asserted.
Ahead of its public offering, Swiggy has been focusing on increasing order values, boosting advertising revenues, and implementing cost-reduction strategies to achieve profitability.
Kapoor mentioned that the IPO-bound company had turned profitable by “driving 200 discrete projects ranging from 5 paisa to 50 paisa value.”
“Swiggy has turned profitable by leveraging discrete projects’ may not be an impactful headline, but it’s the truth,” he added.
The second half of the session had Raj Mohan, Founder-Director of Sustainable Green Initiative, and
Pratyush Kumar Panda, Sectoral expert ESG (CSR and Sustainability), and Founder of Basudev Panda Foundation, talking about ambitious projects, like large-scale tree planting, bridging environmental and community needs further paving the way for a greener, more resilient future.
In a fireside chat with Shradha Sharma, Mohan stressed, “We’ve been talking about a billion customers, billion dollars, unicorns, etc. Why can’t we talk about a billion trees?”
Similarly, Panda believes that change literally needs to start at the grassroots—one tree at a time.
The day drew to a close with UpGrad Co-founder Ronnie Screwvala talking about challenges, mistakes and his learnings on building successful businesses.
Advising other entrepreneurs, he said, “If you look at successful entrepreneurs who have built scalable businesses, it’s clear: what you see is what you get. That sincerity makes a huge difference. Drop your pretences. If you’re sincere, that will come through to your consumers, your team, and your advisors. The entire ecosystem will see you for who you are.”
As Day 2 wraps up, the excitement is set to continue with a star-studded roster of industry heavyweights set to foster conversations on transforming India’s startup ecosystem and nurturing innovation. Keep following the action at the spectacular finale of TechSparks 2024!
