The third day of the India International Science Festival (IISF) 2023 has signaled an advancement in fostering innovation and entrepreneurship. The Startup, Technology, and Innovation B2B Meet has hosted interactive knowledge workshops, catering to upcoming and budding entrepreneurs, providing a platform for knowledge exchange, collaboration, and growth.
IISF, a collaborative effort between the Ministry of Science and Technology, Ministry of Earth Sciences, Department of Space, and Department of Atomic Energy, in partnership with Vijnana Bharati, aims to make the world of science accessible to all. The festival celebrates science, engaging the general populace in an enjoyable and entertaining manner, contributing to health, prosperity, and a meaningful life.
Through innovative programs and initiatives, IISF fosters opportunities for people and the scientific community, both nationally and internationally, to collaborate and advance scientific pursuits for the betterment of India and humanity.
The interactive workshops delved into crucial aspects of startup development, focusing on key areas such as the startup canvas, problem identification, value proposition, differentiation, go-to-market strategy, and fundraising. Attended by various national and international delegates, including incubators, business strategists, and management representatives from multinational corporations and universities, the event showcased a diverse pool of experiences and learnings.
In the workshop titled ‘Startup Canvas: Steps for Startup Success’, Dhruv Gupta, CEO of iTIC, IIT Hyderabad, and Saurabh Jain, Founder of Fun2Do Labs, shared their insights as panelists. Moderated by Ashish Jain, Founder, CEO of The Startup Board, the session emphasized the celebration of failures and the importance of teamwork for startup success. Jain focused on the three critical steps for startup success, that is, product, people, and purchasing power, highlighting the significance of utility for startups.
The workshop on ‘Identifying Problems and Value for Customer (Value Proposition and Differentiation),’ moderated by Sachin Arya, CEO of PIEDS, BITS Pilani, featured panelists Satish Pandey, Chief Customer Officer at Siemens India & Country Head for Siemens Sri Lanka and Maldives; Nikhil Agarwal, CEO of SIIC, IIT Kanpur; and Radhika Meenakshi Shankar, Founder of Wise Owl Consulting.
The session stressed the importance of ‘Get Out Of The Building’ (GOOTB) to understand customers’ expectations, wants, and needs. It encouraged entrepreneurs to look at features, competition, and market dynamics to build a strong value proposition.
The workshop on ‘Go-to-Market Strategy’ extended its scope with insights from foreign universities. Professor Le Thai Phong, Dean of Faculty of Business Administration at Foreign Trade University, Vietnam, compared the Indian and Vietnamese startup ecosystems. B Gopalkrishnan, Former Head of Samunnati Startup Initiative at Samunnati Foundation, discussed product setup and sales strategies for rural areas.
Siva Ramamoorthi, a Management Consultant, highlighted key elements for startup success, emphasizing the role of sales executives and the EBANT strategy for lead qualification. The session, moderated by Ashutosh Pastor, Senior Manager & Head-Incubation FITT, IIT Delhi, concluded with the importance of capturing consumer personas for effective market understanding.
In the final session on ‘How to Pitch and Raise Funds,’ moderated by Nikhil Agarwal, Pradeep Yuvaraj, MD of Prezantim Strategy, and N Dhanushkodi, Management Consultant, shared valuable insights. Pradeep Yuvaraj stressed the importance of storytelling in fundraising, illustrating the concept through creative storytelling. Mr Dhanushkodi elaborated on traditional fundraising methods for budding entrepreneurs.
The culmination of these workshops sets the stage for the Startup-Investor Meet on Day 4 of IISF 2023. This meet will provide entrepreneurs with the opportunity to pitch their ideas to participating investors, leveraging the strategies and insights gained from the preceding workshops.
Notable companies such as Arc Robotics, Nishkam, Myways.ai, EV Urjaa, Aumsat, Liqsure, and more are expected to participate, contributing to the collaborative spirit of innovation and entrepreneurship at the event. The IISF 2023 Startup, Technology, and Innovation B2B Meet showcase a collective effort to empower and inspire the next generation of entrepreneurs.
