24 Mar, 2023
Mint

Startup ICON Summit & Awards 2023

India Racing Towards 250 Unicorns

Introduction

India Racing Towards 250 Unicorns

Being the world’s sixth-biggest economy, India has the 3rd largest start-up ecosystem and unicorn community, with more than 84,400 start-ups in 656 districts from 30 States and 7 Union Territories of India. Despite slow funding, India produced 21 new Unicorns in 2022, 3X more than China, the world’s second-largest start-up ecosystem. In the period from 2015 to 2022, there have been a 15X increase in the total funding of start-ups(almost double). Growing at a massive rate, the registration of new start-ups will grow at an annual rate of 25% during 2022-27. (Economic Survey 2021-22)

Much ink has been spilt on embracing the figures, but less attention has been paid to the real odds of thriving in the highly competitive environment. No doubt, India has been witnessing a surge in the number of unicorns and the pace at which they are created. Despite this accelerated activity, the start-ups still lag in achieving successful late-stage outcomes due to gaps in technology, funding, scaling, and more. Even though conditions are improving, the challenges facing India’s start-up ecosystem remain pertinent.

The new leaders are - ICONS, turning into UNICORNS. The year ahead demands the need for a different path to light that upends convention and crafts a new vision for the future. The commitment now is to develop a culture of innovation and entrepreneurship in every nook and corner of India.

The second edition of Mint Startup ICON Awards 2023 is an opportunity for start-ups to augment their brand share amongst such investor communities. Foray towards heightened recognition for their innovation and position themselves as India's start-up ICON.

Build your tomorrow here!

Agenda

1:30 PM onwards
  • 1:30 PM – 2:30 PM

    Lunch with Networking

  • 2:30 PM – 2:35 PM

    Welcome by Mint

  • 2:35 PM – 2:50 PM

    Opening Keynote by Guest Speaker

  • 2:50 PM – 3:10 PM

    Keynote Address: India: A Global Start-Up Hub

    At 75, India is entirely on a different beast with a hunger for high aspirations, growth, and capabilities to not just achieve; but exceed expectations. If you look at the last 6 years journey:  India’s the #3 largest start-up ecosystem in the world and one of the largest digital hubs in the world.  India accounts for 45% of the global GCCs. The year 2021 was the Year of Unicorns for India, with 43 start-ups and a $1 billion valuation. The number of start-ups has grown manifold since 2016, from a mere 417 to 86,851 in 2022. This number will rise dramatically. By 2025, the nation will have 250 unicorns.

    Currently, India is among the top-five easiest places to start a business. By 2030, India will be the most sought-after economy in the world because of the founders of today. To achieve this dream, start-ups are gaining access to new markets and modernizing domestic industries. Getting engaged with the global start-up ecosystem through international forums, G2G partnerships, and global events. The prime aim is to showcase potential opportunities in the Indian market, increase capital flow, enable cross-border learning, and promote ease of doing business. Policymakers, regulatory sandboxes, business leaders, and academics will contribute to India’s start-up ecosystem advancement in the coming years.

  • 3:10 PM – 3:25 PM

    Fireside Chat 1: The Ideal Toolkit for Making of a Super Brand

    As the start-up ecosystem is getting matured, entrepreneurship is getting stronger, and investors are gaining confidence- there’s a lot to ponder upon as the start-ups steer their way through various challenges along the road to success. However, the distinct path to strive economically and technologically revolves around a core strategic approach: Network, Scale, Product, and Innovation 1. Network-  A common saying: “Invest in people, not businesses.” 2. Scale- Respond quickly to market changes, and deliver value to customers. 3. Product- Focus on R&D, engineering, and product management. 4. Innovation- Continuous technological advancements to get an edge over the competition.

    How does this approach help new players follow in the footsteps of the big champions? What unique challenges will these four strategic plays solve?

  • 3:25 PM – 3:50 PM

    Panel Discussion 1: Technological Leap: Drivers, Challenges & Pillars

    Innovations such as cloud, AI, edge computing, the interconnectivity of IoT smart devices, and remote operations have accelerated the primary characteristics that define the digital era: granularity, speed, and scale. However, the flip side of this coin tells a different story of a huge technological gap. With the rising complexity of IT systems and the inception of a broad range of new technologies, start-ups and enterprises are undergoing challenges such as multi-jurisdictional security, data governance, capacity building, resources management, revenue-based issues, etc., as they try to survive in the modern competitive business landscape. Technology modernization also demands knowledge of how to transition from existing traditional systems to flexible, seamless ones. Given the scale of the challenge, low-cost, high-impact solutions are required to cover the technological gaps.

    The ask is- how will organizations dedicate the energy, focus, and resources to continually closing or leapfrogging the technological gaps? How can tech-start-ups help them win the most important battlegrounds?

  • 3:50 PM – 4:05 PM

    Networking Break

  • 4:05 PM – 4:20 PM

    Fireside Chat 2: Learn, Unlearn, Relearn - Mantra to Curb Talent Attrition

    The attrition rate in India surged to 20.3% in the first half of 2022 from 6% in 2020, as per statistics. Companies must rethink their ways of working to formulate new strategies, otherwise talent retention and attrition may become one of their greatest hurdles, due to brutal competition for employees with top skills from tech players and others. Capability building is a proven approach to future-proof success, growth, and sustainability. For a dynamic ecosystem like India, capacity building and development is key to achieving a more inclusive start-up ecosystem.

    But, the ask is—what is the well-designed structural program to promote productive behavior & skills? How can capability building power successful transformation and at the same time manage talent retention and attrition?

  • 4:20 PM – 4:45 PM

    Panel Discussion 2: Diversity Divide --A Roadblock in Building Strong Start-up Ecosystem

    India is a highly diverse country having a population of 1.423 billion, including over 600 million middle class. While on one slide, India is admired for its distinct cultures, languages, ethnicities, and religions, on the flip side, it is known for its huge market potential. However, considering the smaller de facto size of the Indian market, this can be deceptive and can lead to misjudging the market and customer—which, in turn, leads to start-up failure.

    Not just this, there is also a massive gap for geographically distant start-ups to attract customers. Making it difficult for Tier II or Tier III start-ups to expand their operations in large metropolitan areas. The reason isn't just a lack of financial resources but also the absence of the right skills, cutting-edge technology, talent, resources, and know-how to maintain. The ask is— How can we bridge the diversity gap and develop a detail-oriented understanding of customers & their needs?

    How can we help start-ups develop, thrive, and become a part of a scalable ecosystem?

  • 4:45 PM – 5:00 PM

    Networking Break

  • 5:00 PM – 5:15 PM

    Keynote: Master Directives: New Policies to Boost Start-ups in India

    The Indian start-up ecosphere is one of the fastest developing and the third largest in the world. The segment’s growth has gathered momentum over the past few years; the credit goes to the countless government steps taken to open up the economy, enhance ease-of-doing business, and make India more competitive on a global playing field. Policymakers have cautiously crafted blueprints to create a conducive environment for start-ups to explore new routes without ambiguity. Consider the compliance reduction policies to encourage a robust entrepreneurial spirit. The government has simplified various digital processes, standard operating procedures, and approvals & clearances. Tax compliance is also a crucial enabler in creating a globally recognized innovation ecosystem in India.

    Given increasing focus and support from policymakers, how will start-ups demonstrate their potential to become unicorns? How will they enable seamless and continuous engagement with all their stakeholders?

  • 5:15 PM – 5:30 PM

    Fireside Chat Deep Tech: Paving India's Trillion-Dollar Economy Roadmap

    Deep tech start-ups are making their presence felt across various industries. In the last decade India’s deep tech sphere has expanded 53 % and is at par with that in developed markets like the US, Europe, and China. Our country has over 3,000 deep-tech start-ups, housing new-age innovations like AI, IoT, machine learning, big data, robotics, etc. Besides the organic growth of the ecosystem, deep-tech start-ups are now being employed by companies to extend their businesses on the path of digital transformation. As the ongoing growth of the Indian start-up ecosystem is powered by the continuous emerging technologies, companies would need to reassess their roadmaps for adopting deep tech.

    The ask is- Why start-ups should bet heavily on its deep tech ecosystem? Given that the horizon seems fertile, how can Indian start-up ecosystem become global leaders in the deep tech sphere? 

  • 5:30 PM – 5:55 PM

    Panel Discussion 3: Indian Start-ups--Is Funding Winter a Reality or Myth?

    The epic momentum of 2021 slowed down in 2022; from $4.7 billion raised in January 2022 to $1.3 billion in November. The cost of capital has escalated, and investors have become more cautious to deploy capital as they were earlier.

    Is it real? Will it end the dreams of the start-ups?  Will it force start-ups to brace for another 12-18 months before capital flow ease? What are the best practices in a drought?

  • 5:55 PM – 6:15 PM

    Networking Break

  • 7:00 PM – Onwards

    Awards & Gala Dinner

Jury 2023

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Nupur Garg

Founder, WinPE
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Jai Rupani

Chief Investment Officer, Dinesh Hinduja Family Office
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Shanti Mohan

Founder, LetsVenture
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Kunal Bahl

Co-Founder, Snapdeal and Titan Capital
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Satish Chander

Partner, True North
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Shivani Bhasin Sachdeva

Founder & CEO, India Alternatives

Speakers 2023

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Aanchal Saini

CEO & Founder, Flyrobe & RENT IT BAE
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Prashant Pitti

Co-Founder, EaseMyTrip.com
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Kanika Tekriwal

Founder and CEO, JetSetGo Aviation Pvt. Ltd.
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Kunal Bahl

Co-Founder, Snapdeal and Titan Capital
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Sanjeev Bikhchandani

Founder and Executive Vice Chairman, Info Edge
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Ghazal Alagh

Co-Founder & Chief Innovation Officer, Honasa Consumer Pvt Limited (MamaEarth)
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Karthik Prabhakar

Managing Partner, PeerCapital
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Nupur Garg

Founder, WinPE
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Sankalp Agarwal

Co-Founder & CEO, TravelTriangle
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Sonali Jindal

Co-Founder and COO, Ring/ Kishtt
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Vipul Sharma

Founder & CEO, Chqbook
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Dr. Garima Sawhney

Co-Founder, Pristyn Care

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