Rishi Kulkarni is a serial entrepreneur with more than 15 years of startup experience. Currently, he is the CEO and co-founder of Revvsales, a business document management system. Prior to this, he founded a pluggable video infrastructure company called 1Click which was acquired by Freshworks inc .He shares his experiences with the startup community as he talks about the importance of customer discovery and customer development in a startup journey.

Rishi believes startup is a Marathon and not a Sprint and that building a great long-lasting company takes time. It is very important to know who your customers are and why they would want your product. During the customer discovery process, the objective is to drill down into the problems. Rishi emphasized on clearly defining a problem statement and thereby identifying ways for a possible solution. Knowing your strengths is critical as that would help engage with the right customer segment by aligning your strengths with their problems. Hence, reducing costly mistakes and helping to focus MVP development and customer acquisition, he added.

Next step is to conduct surveys using various platforms like LinkedIn, review sites, communities and groups, Twitter polls, paid interviews and industry events with the people who you believe could be your potential customers. These surveys are very effective and low in cost. Subsequently, request for a follow-up brief call/meeting with survey respondents. He advised the startups to use mind mapping tool to compile feedback and re-asses product-market fit. Is the information sufficient for you to move forward? If not, you may want to conduct iteration by redefining your problem/solution.

Outlining the above steps, Rishi concludes, customer discovery is very effective at an early stage but it is equally important while scaling your business or during pivoting your strategies in challenging times. You should always keep learning about potential market and customers. The customer discovery and development process help organizations minimize initial cash burn and conserve morale and energy of the organization. This process helps in fine-tuning business model and customer value proposition.

Rishi Kulkarni |CEO, Co-founder-Revvsales

https://revv.so

Topic- Increasing sales, growing revenue and thriving during the pandemic

Avinash is a serial entrepreneur, an INK fellow, was named Business World “40 under 40 achievers” and “Game changer under 30” by Indian Express. His current venture, Aware is a mindfulness meditation startup – helping users practice mindfulness. Prior to this, Avinash founded zoojoo.be, a habit formation platform. Avinash shares his startup advice regarding survival tactics and best market-driven practices that will help navigate your startup through a crisis.

Avinash advised startups to focus on finding solutions to the problems caused by the pandemic. He believes this is the time to focus more on a market-driven strategy than investing time to develop or modify the product.

Avinash recommends startups to “stock up” on sales prospects. Startups should get aggressive with their lead generation at this challenging time. If there was ever a time for lead nurturing and acquisition, it is now. Devote extra time, efforts and resources to prospecting and lead generation.

Coronavirus has catalyzed digital transformation across the globe. Attending webinars and other virtual events are proving very instrumental in creating leads for Avinash’s business. He highly recommends to all startups to participate in their industry-specific webinars for doubling their lead generations.

Additionally, look for ways to re-organize a part of your team for cold calling, which will help in lead generation. You may accomplish this by assessing your team members skills and capabilities. Hence, enabling the leadership team to focus more on the strategies and deal closure.

Lead generation at this time is not only important for future growth, but it will also help your company survive during and post COVID period, he added.

Avinash Saurabh| Founder – Aware

https://awaremeditationapp.com

The post Taming Adversity appeared first on NSRCEL.

In today’s startup ecosystem, founders face a marketing landscape that has fundamentally changed. Traditional tactics are no longer sufficient in a world where user behavior is shaped more by emotion, culture, and community than by logic or pricing alone.

In the first episode of the Founder Framework Masterclass, a learning series hosted by NSRCEL in collaboration with WeWork Labs, Professor Ashis Mishra(Marketing Area, IIM Bangalore) and Rahul Subramanian, Co-founder and CMO of BoldCare, explored what it really takes to build relevance in today’s consumer ecosystem.

What emerged was a focused discussion on entrepreneurial marketing: a strategic, lean, and user-centric approach that every early-stage founder canapply – regardless of industry or scale.

What Sets Entrepreneurial Marketing Apart

Unlike established firms, startups cannot rely on brand recall, legacy distribution, or large advertising budgets. Their strength lies in speed, creativity, and direct access to users.

Entrepreneurial marketing is not just a scaled-down version of conventional marketing; it’s an entirely different mindset. Founders must:

• Solve a specific, real problem instead of chasing broad awareness
• Focus on long-term relationships, not just short-term conversions
• Prioritize flexibility over fixed plans or scaled operations

Where traditional marketing seeks to dominate markets, entrepreneurial marketing seeks to resonate with the right users. This distinction influences everything from messaging and content to channel strategy and brand voice.

Moving from Competitor-Focus to Customer-Focus

Many businesses claim to be customer-centric, but their strategies are often driven by competitors’ actions. Entrepreneurial marketing flips this logic.

The masterclass emphasized that customer-centric businesses don’t stop at meeting benchmarks. Instead, they aim to deliver outcomes that matter to users, even if they fall outside standard industry practices.

Startups that truly embrace this approach place customer satisfaction, trust, and experience at the center of their decision-making, not as a by-product of growth. This principle becomes especially important in early stages when brand trust is still being earned.

Why Customer Personas Matter

Founders often make marketing decisions based on assumptions or aggregate trends. But in early-stage contexts, specificity is more powerful than generalization.

The concept of a customer persona; a detailed profile of your ideal customer based on demographics, motivations, pain points, and behavioral patterns helps startups stay focused.

BoldCare’s early strategy reflected this. Rather than build for a generic consumer segment, the team identified a specific user group with a distinct need: men seeking discreet, stigma-free care around sexual wellness. That clarity shaped their product design, packaging, support model, and even the tone of communication.

Founders can build similar clarity by spending time understanding the user context: not just who they are, but what they fear, aspire to, and need reassurance about.

The Strategic Role of Content

Marketing is no longer only about visibility – it is about trust. And trust is built through non-transactional value.

The session highlighted the importance of content as a long-term equitybuilding tool. Founders were encouraged to ask: What can we teach, explain, or demystify for our users, without asking them to buy right away?

Examples like Zerodha’s educational content strategy show how startups can lead with value, rather than offers. In BoldCare’s case, clear, respectful, and stigma-free language in their communication played a vital role in building early credibility.

For startups in emerging or sensitive categories, content often becomes the first (and sometimes only) brand touchpoint. Making it thoughtful and useful is non-negotiable.

How BoldCare Built for Trust in a Taboo Market

BoldCare’s approach to launching in the sexual wellness space was guided by discretion, empathy, and user education. Rather than lead with aggressive marketing, the team focused on building an ecosystem of care.

Key elements included:

• Offering free doctor consultations alongside product bundles
• Enabling anonymous support through platforms like WhatsApp
• Using clean design and neutral packaging to ensure privacy
• Avoiding exaggerated claims or overpromising outcomes

The company positioned itself not just as a product seller, but as a health and confidence enabler. This approach helped reduce user hesitation, encourage repeat behavior, and deepen brand trust; outcomes that paid long-term dividends.

Iteration as the Core Marketing Engine

A recurring theme in the session was the value of continuous iteration. Startups are rarely right the first time, especially when it comes to messaging, positioning, or channel selection.

BoldCare’s marketing evolved through a series of adjustments. They changed their pricing, tested different creatives, switched formats (from Ayurvedic to prescription products), and experimented with influencers, ads, and content formats.

The underlying principle was simple: data should guide every pivot. Engagement metrics, click-through rates, page scrolls, and user feedback were all used to optimize for conversion and clarity.

For founders, iteration should not be viewed as a correction – it is a permanent part of entrepreneurial marketing.

A Framework for Measuring Marketing Success

Rather than track only revenue, the speakers advocated for a staged approach to marketing metrics, often referred to as the funnel model:

• Traffic & Reach: Website visits, impressions, and awareness metrics
• Engagement: Time spent, content shares, scroll depth, click-through rates
• Conversion: Cart adds, sign-ups, purchases, or app downloads
• Retention & ROI: Repeat purchases, customer lifetime value (LTV), ROAS

Founders were cautioned against measuring success purely through revenue or ROI too early in the funnel. If users aren’t engaging meaningfully with content or the product, long-term conversion will remain elusive.

This model also enables prioritization. For example, if conversion is low despite high engagement, the product positioning or CTA may need reworking

BoldCare’s Approach to Resource-Led Marketing

Operating in a niche with limited budgets, BoldCare applied performancefocused strategies to make every rupee count.

Their early priorities included:

• Identifying creatives with the highest ROAS (return on ad spend)
• Streamlining ad channels based on user behavior
• Simplifying messaging to maximize clarity and reduce drop-offs
• Improving post-purchase experience to drive LTV and retention

Rather than spreading efforts across multiple channels, they doubled down where results were visible. This lean approach allowed them to build momentum with fewer experiments and greater focus.

Emotional Trust as a Competitive Advantage

In categories with stigma or social discomfort, emotional trust becomes the strongest moat.

BoldCare’s goal was not just to treat a condition, but to create an environment where users felt seen, respected, and supported. Their product was only part of the solution; the rest came from the experience: the reassurance of doctor access, the clarity of FAQs, and the subtlety of communication.

Founders were encouraged to think beyond features and benefits, and instead ask: What kind of emotional experience are we designing? Because in saturated markets, how your product makes someone feel is often more important than what it does.

Marketing as Meaningful Storytelling

The session closed with a focus on storytelling; not as a campaign technique, but as the core of modern marketing.

The strongest brands don’t sell features. They sell beliefs, aspirations, and identities. They evolve with their users and create continuity between product, purpose, and presence.

Startups that align their story with the lived experiences of their users; honestly, consistently, and with nuance – build reputations that advertising budgets can’t replicate.

In early-stage ventures, your story is often your strongest differentiator. It deserves clarity, investment, and strategic intent.

The post Building Relevance, Not Just Reach: Insights on Entrepreneurial Marketing appeared first on NSRCEL.

Earlier this year, seven founders from NSRCEL’s community were featured in the Forbes 30 Under 30 list, and we brought four of them together for a candid, deeply personal conversation. From campus side-projects to companies impacting thousands, their stories had a little bit of everything: uncertainty, hard decisions, a few lucky breaks, and a lot of persistence. Here are the moments and mindsets that stuck with us.

Start with the problem that won’t leave you alone:

Each founder on the panel started with a clear pain point. Not a product, not a pitch deck – but a problem that refused to be ignored.

For Akshita, founder of Sama, it was the frustrating experience of legal disputes in India. “We’re the land of Aadhaar and UPI,” she said. “Why aren’t we applying tech to the justice system?” She and her co-founder started Sama while still in law school, long before there was a market study or a revenue model. The motivation was simple: to serve people better.

Similarly, Anil, who leads the Young Tinker Foundation, began with a deeply personal question: Why did students from my village have so few opportunities in STEM?

He began teaching kids in a tin shed. Years later, his students are winning global NASA challenges and building drones. It didn’t begin with scale. It began with empathy. “If not me, then who?” Anil said. “And if not now, then when?”

Sometimes, one visit changes everything

For Bhanushree, founder of a space-saving furniture brand – Wallter Systems, the turning point came unexpectedly. She dropped by NSRCEL to meet a friend. One conversation later, she walked away thinking, Why am I holding myself back?

Within a week, she quit her job and committed to the venture. She hadn’t studied business. Her first pitch deck was made at NSRCEL. She swept her own office floors in the early days. But she figured it out. “Once you jump into the ocean, there’s no coming back. You’ll swim.”

College is not a detour – it can be your launchpad.

For Khet, founder of ClaimBuddy, the startup began while he was still a student at IIM Bangalore. While everyone around him prepped for consulting interviews, he was working on a platform to simplify health insurance claims.

“I didn’t want to look back and think what if,” he said.

I didn’t want to look back and think what if,” he said. Khet used the ecosystem around him – professors, peers, mentors, and turned a campus project into a full-fledged startup. ClaimBuddy now works with 400+ hospitals and has helped over 50,000 patients navigate claims faster.

“We didn’t just get advice. We got our first check through our professor.”

Traction doesn’t wait for a fancy office

What’s clear across every founder story is that they didn’t wait to be “ready.” They started by doing things manually. By asking users for feedback. By making mistakes, fixing them, and showing up again.

Akshita shared how Sama’s first dispute resolution model launched in Bihar, and then scaled to cities like Mumbai and Delhi based on demand. Khet pitched with a pre-seed round even before graduating. Anil started without even registering a nonprofit, just to test if his idea had legs.

None of them had everything figured out. But they built as they went. The startup path isn’t glamorous. But the wins are real. The Forbes list wasn’t the goal for any of them. But when it came, it felt like a real moment.

“Entrepreneurship doesn’t always feel glamorous,” Akshita said. “So when something like this happens, it’s a reminder that we’re doing something worthwhile.”

For some, it opened up new doors – like getting calls back from potential partners who had ghosted them earlier. For others, it gave their teams a boost of pride. For all of them, it was a moment to pause, celebrate, and then get back to the grind.

Because startups don’t stop. They just evolve.

What happens when you scale from community

All five founders credited the role of having a support system – mentors, incubation programs, or just people to bounce ideas off when things got hard.

The NSRCEL ecosystem showed up in different ways: a conversation that gave someone the courage to quit, a structured program that helped sharpen a business model, a network that led to early customers, hires, or investors

Bhanushree shared that NSRCEL helped her move from zero to one, and then again from one to ten. Khet spoke about how the SRV (Student-Run Venture) model gave them credibility when approaching investors. Akshita spoke about how having a community that believed in her helped her navigate the emotional ups and downs.

“You don’t need to have all the answers,” one of them said. “But you do need people who’ll ask the right questions.”

On leadership, pressure, and staying grounded. The transition from founder to leader is real, and messy. It doesn’t happen overnight.

“When we started, we did everything,” said Bhanushree. “I’ve swept my own office. Taken all the calls. Packed products. Everything.”

You don’t wake up one day knowing how to lead a team. You grow into it. They spoke about staying close to their company’s core, even when the temptation to scale fast showed up. About hiring when you’re stretched too thin. And about how roles evolve as teams grow – from doing the work to enabling others to do their best work.

There’s no fixed rulebook, but there are values. Aligning with those values helps attract the right team and helps you stay sane when things get overwhelming.

There’s no one way to build a startup

One of the most refreshing parts of the session was how openly they spoke about pivots. No one’s first idea was their final one. Khet’s pitch deck changed completely over five years. Anil pivoted from a tin-shed school to a techenabled learning model. Bhanushree went from a personal problem to a furniture brand used across metros.

Their advice? Don’t get attached to how you do it. Stay obsessed with why you’re doing it. And if you’re unsure where to begin, start with a question. One that bothers you enough to lose sleep over.

Their next chapters

Each founder is now entering a new phase. Akshita’s focused on scaling Sama deeper into BFSI segments and building out their community of 3,000+ legal professionals.

Bhanushree is expanding her brand’s B2B footprint by partnering with interior design firms.

Anil is working toward impacting 10 lakh students across rural India by 2027. Khet is continuing to scale his hospital network and simplifying claims at scale.

None of them are slowing down. They’re just getting started!

Final thoughts for founders reading this

If you’re building something, whether from campus, your childhood home, or a coworking space – know this:

You don’t need to have all the answers. You need to start. The journey will surprise you. People will come along who see what you’re building and want to be part of it. Some days will feel like a win. Others will test you more than you thought possible.But if you’re solving something real and you care deeply about it, you’ll keep going. And that’s what makes all the difference.

But if you’re solving something real and you care deeply about it, you’ll keep going. And that’s what makes all the difference.

The post What It Takes to Build Something Real: Lessons from NSRCEL’s Forbes 30 Under 30 Founders appeared first on NSRCEL.

In Episode 2 of the Founder Framework Masterclass, hosted by NSRCEL, IIM Bangalore in collaboration with WeWork Labs, this theme was explored in depth through a focused session on capital efficiency. The discussion was led by Professor Sabarinathan G, a retired professor in the Finance area at IIM Bangalore, and Rakesh Thakur, Group CFO at boAt Lifestyle.

The objective was to move beyond theory and bring founders face-to-face with operational insights that drive sustainable scale.

Understanding Capital Efficiency in the Startup Context

Capital efficiency refers to the ratio between capital employed and the value created from that capital, whether in the form of revenue, profit, or long-term asset creation. In the context of startups, particularly those in their early stages, capital efficiency reflects how well founders use limited funds to validate assumptions, reach product-market fit, and prepare for scale.

This is especially important for startups that cannot afford extended cash burn or rely on constant capital infusion. As access to funding becomes more selective, the ability to demonstrate operational control and financial discipline is no longer a later-stage concern – it is an early-stage necessity.

From Revenue Growth to Financial Resilience

One of the most important insights from the session was that high revenue growth does not automatically translate to financial health. In the case of boAt, the company experienced strong year-on-year growth, yet significant capital was tied up in working capital and internal liabilities.

This misalignment between growth and liquidity is not unusual in fast-scaling startups. Rapid top-line expansion often masks underlying inefficiencies – in inventory, receivables, and cash conversion cycles. Without corrective action, these inefficiencies compound over time, eventually impacting valuation, investor confidence, and even day-to-day operations.

Startups must therefore ask a critical question early in their journey: Are we structured to sustain the scale we are pursuing?

Applying Capital Efficiency at the Operational Level

The session highlighted several changes implemented at boAt that helped improve capital efficiency. These measures were grounded in basic financial hygiene and were not dependent on advanced technologies or large teams. Key practices included:

• Shortening inventory cycles by improving SKU-level analysis and aligning procurement with real-time demand
• Implementing ABC inventory segmentation to prioritize high-velocity SKUs and reduce cash tied up in slower-moving products
• Introducing channel financing and bill discounting to accelerate receivables and improve liquidity without raising debt
• Establishing weekly cash flow monitoring using straightforward tools like Excel to track inflows, outflows, and burn

The key takeaway for founders is that capital efficiency does not necessarily require external expertise or tools. It starts with internal discipline and a willingness to reassess assumptions about how capital is deployed across the business.

The Role of Founders in Financial Decision-Making

An important insight shared during the session was that capital efficiency is not a finance team’s responsibility alone. In early-stage companies, founders play a direct role in shaping the financial trajectory of the business.

This includes making decisions about:

• When to invest in marketing versus improving margins
• How to allocate funds across core and experimental initiatives
• Whether to prioritize short-term cash flow or long-term asset development
• How to structure payment cycles with suppliers and partners

Each of these decisions has downstream effects on the company’s ability to manage cash, access working capital, and attract investment. Founders who adopt a strategic view of capital, not just as funding, but as a finite resource, are better equipped to manage uncertainty and scale sustainably.

Investor Expectations Are Evolving

The session also addressed how investors perceive capital efficiency. Contrary to common assumptions, investors are not only looking for exponential growth. Increasingly, they are evaluating how startups manage internal resources, whether founders understand their financial levers, and if the company is positioned to operate with minimal external dependency.

In boAt’s case, Rakesh (Group CFO, boAt Lifestyle) shared that investors encouraged a focus on internal systems, balance sheet clarity, and operational resilience before scaling further. This highlights a broader trend: financial discipline is not a post-funding concern, it is a prerequisite for scalable growth.

Startups that are capital-efficient signal readiness, maturity, and lower execution risk; all of which increase their attractiveness in competitive funding environments.

Practical Steps for Early-Stage Founders

Founders in the early stages of company building often operate without CFOs or formal finance teams. However, there are a few key actions that any founder can implement to embed capital efficiency into daily decision-making:

1. Implement Weekly Cash Flow Tracking

Create a basic but consistent system, on Excel or Google Sheets, to monitor key cash movements. Include cash burn, receivables, vendor payments, and short-term liabilities.

2. Understand Unit Economics

At a minimum, founders should calculate Customer Acquisition Cost (CAC), Gross Margin, Contribution Margin, and Customer Lifetime Value (LTV). These indicators inform marketing decisions, pricing, and channel strategies.

3. Evaluate Working Capital Policies

Look for opportunities to negotiate supplier payment terms, offer earlypayment incentives to distributors, and reduce time spent holding inventory

4. Focus on Process Consistency

Establish structured workflows for invoicing, vendor payments, and financial reporting, even if they are manual. Ad hoc processes result in confusion and inefficiencies as the company scales.

By taking these steps, startups can build the foundation for a financially resilient business, without needing to wait for a dedicated finance team.

Why Capital Efficiency Matters Now More Than Ever

In the current macroeconomic environment, where funding cycles are longer and investor scrutiny is higher, capital efficiency is no longer optional. It provides a buffer during uncertain times and enables more strategic decisionmaking.

Startups that internalize this mindset are better positioned to:

• Extend runway without diluting early equity
• Respond to financial shocks without disrupting operations
• Make deliberate trade-offs between speed and sustainability
• Build investor trust through transparency and discipline

Ultimately, capital efficiency is not about constraint; it is about clarity. It allows founders to scale with control, build lasting value, and focus their efforts where they have the highest return.

The post Run Lean, Grow Strong: Capital Efficiency for Founders appeared first on NSRCEL.

At a recent NSRCEL session, we hosted Mohammad Zeeshan, co-founder and CEO of MyCaptain, for a conversation with student founders who are just getting started. What followed was a mix of practical insight, humble storytelling, and brutally honest takes on what it means to start up while still in college. If you’ve ever thought, “I have an idea, but where do I even begin?” – this is for you.

It all started with a conversation. During his second year of college, Zeeshan and a few friends sat around cramming for an exam none of them particularly cared about. One wanted to be an astronomer. Another dreamed of filmmaking. A third was exploring economics. But like many students, they were all studying for the same engineering paper – just because it was expected. That one conversation sparked something.

They didn’t immediately think, let’s build a startup. What they did think was: Why don’t we create something that helps students explore careers they’re actually curious about? So they started a print magazine.

And it flopped.

But it also forced them to listen, learn, and rework their idea. That print magazine eventually became a small online mentorship community. That community turned into structured sessions. The sessions grew into a platform. And that platform became MyCaptain.

Why college is a great time to start up: Zeeshan is clear about this – college gives you more freedom than you realise. You have time, flexibility, and (most importantly) people. Friends become teammates. Classmates become beta users. Professors and seniors become sounding boards.

“You don’t have to wait until you’ve graduated to start something real,” he said. “Your future co-founder is probably in your college group chat. You just haven’t pitched them yet.”

And even if your first idea doesn’t take off, college gives you room to try again.

Because when you don’t have fixed costs, investor expectations, or performance reviews to worry about, you’re free to focus on the most important thing: figuring out whether the problem you care about is worth solving.

Don’t wait for perfect. Start small, then listen

The early version of MyCaptain didn’t have a dashboard or app. It ran on WhatsApp.

Learners were onboarded manually. Mentors were sourced from Zeeshan’s network. Content was built week by week. What kept them going was feedback – real, frequent, often critical, always useful. Every version they built led to clearer insights. And every mistake helped shape the next move.

“You don’t need a five-year plan. You need your next five users,” he said. “And you need to talk to them like they’re your co-founders.”

What matters more than money

There’s a common myth among student founders that you need capital to start building. Zeeshan disagrees. Before raising any funding, MyCaptain had already crossed ₹5 lakh in monthly revenue. They focused on creating value, getting people to come back, and letting that traction speak for itself.

“I’ve seen startups shut down after raising crores,” he said. “And I’ve seen scrappy teams scale real businesses without any funding.”

What matters more than money is momentum. If you’re seeing consistent growth, even if small – you’re doing something right.

And if not? You’re in the best phase of your life to go back, tweak, and try again.

The role of structure and support

For over a year before they were formally incubated, Zeeshan and his team made monthly trips from Chennai to NSRCEL in Bangalore. Just to sit across the table from a mentor, talk about progress, and hear what wasn’t working. Those conversations gave their journey shape. They didn’t get all the answers, but they left with better questions. That rhythm, of reflecting, testing, reviewing – became a habit.

In hindsight, that’s what most student-led ventures need. It’s not about skipping steps. It’s about having a system that keeps you grounded as you figure things out. Whether that support comes from your college’s entrepreneurship cell, an incubator, alumni network, or even a WhatsApp group of founders – structure helps you stay the course.

Building your first team isn’t about resumes

At some point, Zeeshan had to make a big decision: ask the team to skip placements and go all in. He didn’t promise them a salary. He promised them a shot. And five of them said yes. That early team built the foundation – running operations, building content, doing sales calls, answering support queries, often in the same day.

“No one had years of experience. But they were willing to learn, and they believed in the mission. That’s what mattered,” Zeeshan said.

So if you’re looking to build a team in college, don’t look for titles. Look for people who are curious, dependable, and ready to show up when things get hard.

So… what do you even build?

Zeeshan shared a simple framework for student founders unsure of where to begin. Start by listing five industries or spaces you care about. Think through the people involved; students, small businesses, teachers, delivery workers, whoever it is.

Then, talk to them. Ask what frustrates them. What slows them down. What makes them go looking for a better way. Talk to 100 people, and patterns will emerge. That’s how you find the one problem you won’t mind obsessing over for the next few years.

Because building a startup isn’t about chasing trends. It’s about staying committed to a problem, even after the buzz fades.

A few parting thoughts for student founders

One of the biggest myths around startups is that you need to have everything figured out. The truth? You won’t. And you don’t need to.

If you have:

• A real problem you care about
• A few users who are willing to try your solution
• A team that’s scrappy and focused
• Then you already have more than most.

Zeeshan closed the session with something simple, but important: “There’s no one path. You don’t need to do what everyone else is doing. You just need to do the work, stay curious, and keep moving.”

And if you’re doing that from your hostel room? You’re exactly where you need to be.

The post From Hostel Rooms to a Million Users: What Student Founders Can Learn from MyCaptain’s Journey appeared first on NSRCEL.

The journey to net zero will require a strong focus on innovation and R&D. The next crucial aspect is developing new business models around these innovations. These innovations will fall in the realm of creating the best technologies for allowing businesses to minimise carbon emissions. The focus should be on a broad canvas encompassing solar power, carbon capture/ neutrality, renewable resources, vehicle end-of-life solutions, e-mobility and business models in sustainable last-mile supply, interconnected intelligent logistics for sustainability, and storage technologies. 

The scale of the climate problem and the vast array of the climate tech canvas presents a promising opportunity for India to venture into climate entrepreneurship. This new approach can bring a paradigm shift in our traditional methods of tackling climate change. Climate entrepreneurship, with its focus on innovative technologies that reduce GHG emissions through software, hardware, data analytics, and value chain optimization, offers a beacon of hope for a sustainable society and a direct impact on SDGs. 

According to the Climate Policy Initiative, India will require USD 10.1 trillion to achieve the net zero target by 2070. However, from 2017 to 2021, climate technology startups in India received merely USD 1 billion in funding, a drop in the ocean considering the demand. 

Table 1: Investment volumes in Climate tech, number of transactions and median deal size in the years 2020, 2021 and 2022: 

Table 2: Investment in climate tech according to different sectors:

The above table highlights two aspects: a substantial increase in climate funding in the last few years. However, climate tech startups have received a mere 9% of the total budget, and only 17% can convert from seed-stage financing to Series A funding. It is far below the global average of 29%.  The data underlines a need for the necessary support for the climate tech startups in India to survive and thrive. There is a need to focus on climate tech startups to unleash the potential of Indian climate tech startups to achieve net zero by 2070. 

Two aspects are crucial for a startup to be successful. First, access to the risk capital to enable businesses to cross the Valley of Death. Second, the provision of alpha-level returns for early investors. In this light,  two crucial levers identified by the Inter-Ministerial Committee on Low Carbon Technologies report, NITI Aayog, are pertinent—the creation of the National Decarbonisation Fund and R & D Collaborations. Creating a national-level fund will pave the way for the transition towards a low-carbon pathway. The report further emphasises the creation of a dedicated R&D fund supported by the government and the industry. The fund will help in two aspects: first, nurturing innovative technologies and improving the commercial viability of these technologies. It is a crucial recommendation, and implementing it will help address the funding scenario in the climate tech space. 

Creation of a Conducive Ecosystem

Funding is crucial to ensuring innovative startups receive the necessary support. However, linkages with academia, access to the right mentors, industry connections, and government support are equally important. The Industrial players can act as facilitators and can create innovative approaches to develop engagement with emerging innovations. Academia can act as a catalyst to tap into novel markets and innovative climate technologies and support wild dreams. Academia can help emerging startups access labs, inaccessible equipment, and other product and prototype testing resources. The government can provide the necessary regulatory environment and policy stimulus. In a nutshell, it is the role of government, industry, and academia to create a conducive environment for startups to thrive. Such an ecosystem can ensure India’s status as a global leader in green innovation. 

There are thousands of talented youths with innovative ideas across the length and breadth of India. The need of the hour is to tap the talent as soon as possible and provide them with the necessary support! It will ensure India usher as the climate tech hub of the world. 

Akshay Joshi, Program Manager, NSRCEL

The post Driving Sustainability through innovation in the Indian Startup Ecosystem appeared first on NSRCEL.

When Cunomial Technologies was founded five years ago, it was more than just the birth of a software company—it was the beginning of a mission to empower institutions with cutting-edge, cloud-native solutions. From its humble roots, driven by the vision of a New York University alumna, Cunomial has grown into a powerhouse of innovation. Today, the company boasts a team of experts from prestigious institutions like INSEAD, IITs, and IIMs, creating products that redefine institutional efficiency and innovation. 

Innovation Meets Purpose 

At Cunomial, innovation isn’t just a buzzword; it’s a way of life. Their product lineup, including flagship offerings like Accubate (Innovation Management Software) and Tanzent (Job Fair Software), showcases this ethos. These tools are designed to address real-world challenges, whether by fostering creativity within organizations or simplifying mass hiring. For instance, Tanzent has transformed the hiring landscape by enabling virtual and physical career fairs that connect job seekers and employers at unprecedented scales. In the last two job fairs alone, Tanzent facilitated connections for 1 lakh candidates and 700 companies, resulting in over 10,000 offer letters. 

A Commitment to Collaboration 

Cunomial’s journey has been defined by collaboration, not just internally but with over 200 institutional clients, including Accenture, KPMG, HDFC Bank, and prestigious academic institutions like IISc, IIMs, and IITs. These partnerships are built on trust, exceptional service, and the ability to customize solutions to unique client needs, creating lasting impact and interdependence. 

From Labs to Leadership 

The journey of Cunomial’s founder is as inspiring as the company itself. Armed with corporate experience at Goldman Sachs and research credentials from Cold Spring Harbor Laboratories, Sonali Jha, the founder saw technology’s potential to solve inefficiencies and gaps. A Harvard award for a product case challenge became the catalyst for her entrepreneurial journey. . “Innovation has always been at the heart of what I do,” Sonali says, reflecting on her transition from publishing genetic sequencing papers in Nature and Science to leading a tech revolution in India. 

Empowering Institutions, Driving Transformation 

A recurring theme in Cunomial’s story is its dedication to creating simple, cloud-native solutions that institutions can adopt without heavy infrastructure investments. This approach has enabled organizations to focus on their core missions while leaving the tech-heavy lifting to Cunomial. Products like Accubate don’t just manage innovation—they build networks of creativity, laying the groundwork for an interconnected innovation ecosystem. 

Breaking Barriers as a Female Founder 

As a female founder in a male-dominated tech space, the challenges were unique. “Confidence and clear communication were my tools,” the founder shares. By building a results-driven culture and an inclusive team, she has created a thriving organization that values diverse voices and ideas. Recognition as a finalist in Globant’s Women That Build Awards and being listed among the Top 50 Founders in Women In Cloud WICxTop100 underscores her commitment to breaking glass ceilings. 

“Being recognized as a Guinness World Record setter with Women in Cloud for vision boarding has been a significant milestone in my professional journey. This acknowledgment, alongside other accomplished leaders, reflects our dedication to harnessing technology for societal impact and inclusive growth.” adds Sonali. 

Celebrating Milestones 

For Cunomial, a venture from the Goldman Sachs 10,000 Women Program at NSRCEL, accomplishments go beyond its impressive client roster. Over the past year, the company has won multiple awards, including being the winner of the SelectUSA Tech APAC Pitching Event, receiving the Emerging Stars Startup Award from the Bangalore Chamber of Industry & Commerce, and earning the Creator of New Marketplace Award from MeiTy, NASSCOM, and UN Women. Tanzent has been recognized by HDFC Bank and the National Skill Development Corporation. Being one of only three startups globally invited to meet Microsoft CEO Satya Nadella was a defining moment, highlighting the company’s global impact. 

Lessons for Aspiring Entrepreneurs 

For those dreaming of launching their ventures, Cunomial’s founder offers timeless advice. Resilience is key—embrace setbacks as opportunities to grow. Building a passionate team is invaluable, as people drive the vision forward. Focusing on innovation and creating real-world impact is essential for lasting success. Above all, she emphasizes the importance of creating solutions that help others generate value. “When your product empowers your customers, success becomes a shared journey.” 

Looking Ahead 

As Cunomial scales new heights, its focus remains clear: delivering adaptable, impactful solutions while nurturing strong partnerships. With its scalable business model and commitment to innovation, the company is set to lead digital transformation for years to come. 

From a dream nurtured at NYU to a company that’s reshaping industries, Cunomial stands as a testament to the power of vision, collaboration, and relentless innovation. 

Looking to discover more of such stories? Click here to discover stories of growth and tap into the insights at NSRCEL

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The idea for Hala Mobility took root during Dr. Srikanth Reddy‘s time as a PhD student at Universidad Politécnica de Madrid (UPM). While deeply immersed in his thesis on “Multimodal Shared Mobility and Its Implications on Urban Planning and Smart Cities,” Dr. Srikanth became acutely aware of the growing challenges urban environments face—rising congestion, pollution, and the pressing need for sustainable transportation solutions. 

His research journey was marked by a keen exploration of how integrated mobility solutions could transform urban landscapes. Dr. Srikanth’s academic work delved into the potential of technology to revolutionize transportation, making it more efficient, accessible, and environmentally friendly. The thesis highlighted how multimodal shared mobility could play a pivotal role in reducing carbon footprints and enhancing the quality of urban life. This realization and his passion for sustainability and innovation sparked the idea for Hala Mobility. He envisioned a platform that provided convenient and affordable e-transportation options and leveraged cutting-edge technology to create a positive environmental impact. 

Inspired by the potential for transformative change, Srikanth embarked on his entrepreneurial journey, founding Hala Mobility in 2020. His vision was clear—to revolutionize transportation in India by promoting the use of electric vehicles and implementing a free-floating vehicle-sharing model. 

Since its inception, the platform has experienced rapid growth, expanding from 100 fleets in a city in 2020 to 3,000 fleets in 6 cities by 2024, with plans to further scale to 200,000 fleets across 99 cities by 2030.  

Hala Mobility has partnerships with various stakeholders in the e-mobility ecosystem, including OEMs, fleet operators, battery-as-a-service providers, charging point operators and financers/lenders/insurers. The company’s key features include predictive maintenance, optimized vehicle allocation, and tailored customer solutions to enhance uptime and reduce operational costs.  

Hala Mobility caters to diverse consumer segments, including gig workers, offline commerce, at-home services, consumer services, and urban commuters offering customized subscription plans based on their range requirements and monthly incomes. The company’s vision is to create a circular economy for mobility by leveraging leasing, predictive analytics, and repurposing.  

The rapid growth of Hala Mobility is a testament to the increasing adoption of EVs in India, with the overall share rising to 6.38% in 2023 from 1.75% in 2021, across sectors like 2W, 3W, PV, and CV.  

After participating in the Incubation Program for Mobility Startups at NSRCEL, Hala Mobility experienced substantial growth and development. Post-incubation, they achieved significant milestones in fleet expansion, geographic growth to 3 new cities, a 30% increase in monthly revenue, and the launch of new features in their Gen-AI platform. The program helped them foster an innovative mindset, improve product development processes, and refine their business model for scalability. It also enabled them to establish valuable connections with industry leaders, technology partners, potential investors, and government bodies.  
Incubation Program for Mobility Startups is helping early-stage startups in MVP/ Paid pilot to scale up stage working on technology-based innovations that can be applied in the Automobile and Mobility sectors. The program’s content is tailored to meet the individual needs of each startup participating in the program. The startups receive guidance on regulations, workshop interactions, shared learning and extensive business growth opportunities. In addition, startups will be getting exclusive access to domain experts from Maruti Suzuki, IIMB resources and investor connects in the mobility space. At the end of the program, select startups get an opportunity to do a Paid POC with Maruti Suzuki.

Hala Mobility’s innovative approach to addressing the high TCO for riders and gig workers, combined with its partnerships and technology-driven features, positions it as a key player in India’s e-mobility transformation. 

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This was the exact situation Zaiba and her co-founders Vipul Yadav, Bharat Karotra, Paresh Parmar and Nikul Dodiya found themselves years ago. Their e-commerce startup often suffered because of inefficient logistics options. Larger logistics companies prioritized established giants, leaving smaller players like them with limited options and sky-high costs. 

But instead of letting frustration win, Zaiba and her team decided to take matters into their own hands. And in 2017, iThink Logistics was born – a tech-enabled platform designed to be the ultimate shipping partner for D2C brands. iThink Logistics eliminates the need for brands to manage accounts with various logistics companies. It acts as a single point of contact, offering access to a vast network of courier partners. Features like automated order confirmation through WhatsApp and last-mile delivery solutions ensure a smooth customer experience. iThink Logistics offers a 6-step NDR (Non-Delivery Report) process, reducing RTOs (Return to Origin) by 10-15%.  

Providing easy courier selection, store integration, reduced RTO, better cash flow, improved decision-making, and a dedicated account manager –Zaiba and her team is empowering e-commerce sellers with international shipping, creative dashboards, and marketplace integrations.  

In 2019, the Goldman Sachs 10,000 Women proved to be a turning point for Zaiba, a program at NSRCEL. As the only female co-founder, she had the opportunity to attend the program and translate the learnings for the entire team. The program’s focus on crafting a comprehensive business growth plan (BGP) equipped them with a clear roadmap and actionable steps for future success.  Additionally, the program connected Zaiba with invaluable mentors, such as Mr. KV Ramakrishna, who provided crucial guidance in areas like fundraising, where Zaiba, lacking a traditional business background, previously felt less confident. The company has experienced significant growth, scaling from a revenue of around 15-20 CR in 2019 to 100 CR in the last financial year. Zaiba was also one of the top five founders who was invited for the Goldman Sachs Fellowship program in New York City.  

This success story is further fueled by their ongoing participation in programs like the Goldman Sachs 10,000 Women Finance for Growth, which is providing crucial support in their current Series A fundraising efforts.

iThink Logistics has successfully delivered over 30 million shipments, boasts a wide service network covering 180+ countries and delivers to more than 26,000 pincodes across the country. With their commitment to continuous improvement and dedication to empowering D2C brands, they are paving the way for a smoother, faster, and more efficient shipping experience for all.

The post From Startup to 100 Crore Success: How iThink Logistics Makes E-Commerce Shipping Efficient and Easy? appeared first on NSRCEL.

Meet Anuja, the founder of Circles of Safety, a startup of Women Startup Program at NSRCEL on a mission to ensure every child grows up in a world where safety and knowledge go hand in hand. Anuja’s initiatives encompass a range of interventions, each aimed at cultivating a culture of safety and awareness. Consider the “Safer, Smarter Me” program, tailored for adolescents from grades five to twelve. Through interactive workshops and open discussions, Anuja and her team address typically taboo topics like puberty, healthy relationships, consent, and more, creating a supportive environment for students to express their questions and concerns.  

Anuja and her team also partner with early childhood centres to empower their educators and counsellors in nurturing body literacy among children from an early age. This crucial effort is poised to dismantle toxic cycles and pave the way for an inclusive, respectful world for future generations.  

Moreover, Anuja emphasizes the pivotal role of parents and teachers in the journey toward child safety. Through carefully designed teacher training sessions, parent orientation programs, and awareness campaigns, Anuja and her team ensure that the entire community is equipped to support and nurture children in their growth. Through its various workshops Circles of Safety has worked with about 13,000 children and 9000 adults, including parents.  

Anuja’s passion for child safety is deeply rooted in her journey as a survivor of child sexual abuse. Motivated by a desire to break the cycle of shame and silence, she embarked on a mission to empower children and equip them with the tools to recognize and report abuse. 

Navigating the transition from a passion project to a sustainable business has been a journey fraught with challenges. Anuja’s journey with NSRCEL’s Women Startup Program provided her with a structured framework to objectively evaluate her business idea and with sheer perseverance and adaptability, she transformed her venture into a viable entity, embracing a philosophy of gradual and sustainable growth guided by customer needs. 

Anuja’s impact extends beyond geographical boundaries, with collaborations spanning cities like Bangalore, Chennai, and beyond. Through a collaborative model focused on lasting outcomes, Circles of Safety has touched the lives of thousands of children and adults, fostering a culture of safety, awareness, and empowerment. 

To learn more about this startup head over to https://www.circlesofsafety.com/ 

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