It’s time to consider the city’s startup ecosystem. We party big tonight and ring in the New Year with hope, love and happiness, but in the entrepreneurial world there are harsh realities that Pune startup founders and local business families have to grapple with in the new year. I have. With numerous IPOs, M&A and 2022 funding rounds, Pune has shown individual success and brilliance, but at the same time, the city has failed to collectively position itself as a ‘brand’ in the last decade. , raised serious doubts as to whether we could survive. Ahead in the race. If ‘Brand Pune’ has to beat the start-up hubs of Bengaluru and Delhi, stakeholders should work together to set up local venture his capital firms, increase networking opportunities and generate startup leadership talent. there is.
overview
According to Amit Chitale, a business leader who has been keeping a close eye on Pune’s startup ecosystem, “There are three broad types of startups in Pune. Those who will soon become visible due to the far-future strategies of large organizations and will soon be on the radar from an M&A standpoint. Not looking to exit, building big players in their respective domains and establishing their position, these could be the catalyst for the next wave of entrepreneurs, they are very long term for Pune and the industry. It has a bright future and is seeing good traction around the world.”
“The third category is the surviving and sustaining startups. But they don’t seem to cause much commotion.They are following the traditional company formation approach,” Amit added.
Bhavik Vasa, founder of GetVantage, a revenue-based funding platform that has funded over 10 startups from Pune, is rapidly evolving as a startup hub, with more to come in the coming years. feels home to IPO-bound companies.
“The state’s startup policy is favorable for both founders and investors,” says Bhavik.
Mahaveer Muttha, Startup Mentor and Google Developer Group Pune Organizer, said: One of the best places to stay in the country, he is one of the best places to stay in the country. It is becoming the first choice for founders. In Pune he has over 3,000 registered businesses, hundreds of which have raised his $1 million funding to date. Eight of his 108 unicorn companies in the country are from Pune, with many startups trying to become unicorns. ”
leadership talent
Sandeep Saxena, Vice President (Revenue) of drivebuddy AI, said: There are few such examples in Pune, so it is not on par with Bangalore or Delhi. The city’s third-generation entrepreneurs are risk-averse and carry cultural baggage, creating traditional businesses. Cities such as Indore, Noida and Ahmedabad that were behind Pune could soon overtake us and push us out of the top five. ”
CII Young Indians Yuva Pune Chair Bharat Oswal said: This is a central problem in the existing educational ecosystem. Our focus must shift more towards creating an ecosystem that forces students to think, experiment and fail quickly. Entrepreneurship is built if you can create the right culture of problem solving, keep it in sync with what the industry demands, and ultimately turn it into a potential business opportunity. ”
Cultural Center
Business Growth Strategist Vishal Kulkarni said: Of all startups registered in Maharashtra, 64% are registered in Mumbai and Pune alone. While analyzing the successes and failures of Pune startups, I must admit that a good, well-funded product was supposed to work as a ‘winning formula’, but unfortunately, the business Very few startups manage to scale. ”
“A great product that is well-funded is the bright side of the coin, and a lack of focus on proper ‘building a culture’ is the dark side. Organizational culture is the foundation for successful startup scaling. For new-age entrepreneurs to successfully scale their companies, they must shift their focus from an individual-driven organizational approach to a process-driven organization. ”
Cultural values for entrepreneurship
Successful Exit Entrepreneur Satish Patil said: Pune startups have been vocal about their ‘core values’, but creating a strong culture is a journey, not a destination. Continuous focus, investment, and iteration are required to see progress in the field. One key area to focus on is prioritizing diversity, equity and inclusion (DEI). DEI is both an integral aspect of corporate value and a contributor to corporate performance. Research shows that companies with racial, gender and ethnic diversity are more profitable than their peers. Hopefully in 2023 he will see more sustained efforts in the DEI sector Pune He startup ecosystem. ”
Satish emphasizes the importance of “relationship intelligence” for startups that want to scale, stating: People are now relying on people they knew before the pandemic, yet relying on their virtual network skills to get work done. This networking is supported by relationship intelligence – insights into your team’s network, business relationships, and customer interactions. ”
scale up
Nikita Vora, a digital marketing trainer with a particular focus on solo female entrepreneurs, said: While working closely with the entrepreneurial community in Pune, we observe some common mistakes startup founders make. These include failing to define a clear target market, lacking a robust marketing plan, underestimating the importance of customer feedback, and failing to adapt to changing market conditions. ”
“Marketing automation streamlines marketing tasks, improves customer engagement, accelerates lead generation, and personalizes marketing efforts by segmenting audiences and targeting specific groups with customized messages and content. It helps strengthen,” added Nikita.
Upcoming Trends: Web3, Blockchain Startups
Seracle co-founder Shrikant Bhalerao said: You need a well-developed talent pool to find talented and experienced people who can help your business develop and grow. Supporting the development of industry-specific talent by investing in educational programs such as hackathons, coding boot camps, and other forms of skill development is essential. ”
“Additionally, access to funding is also a pressing issue. Pune is still relatively new and uncharted territory for most investors and venture capitalists, so funding may take time. can be addressed through collaborative efforts such as establishing incubators and accelerators for start-ups to create spaces where talent can be attracted and nurtured, providing access to mentors, grants and other financial resources. ,” said Shrikant.
