HT NxT 2021 Day 2 highlights: 5 entrepreneurs talk about startup challenges

Dr Arjun Dang said after Covid, people are now coming forward for regular checking and screening. “ It is a positive that the power of preventive screening through regular lab test has been taken note of,” Dr Dang said. 

"Since last year it has been a roller-coaster ride after the outbreak of the pandemic. A lot of learning, relearning was required. We hope the situation is under control now and there will be no surge of covid infections in future," Dr Arjun Dang said.

Both the speakers said this is the best time for startups in India. "There has been no better time than this. Ask yourself if you are ready for the challenge because this is something you have not done before," Ashwini Asokan said.

"Anytime is good time to start if you have belief. It starts with a philanthrophic mindset as I feel that money is not everything in startups. So many startups fail. It's really about enjoying every day and solving the problem," Geeta Manjunath said.

Talking about handling startups, Ashwini Asokan said it is hard as one has to wear many hats. "Parenting is way easier than handling startups. You have to manage people. There are many challenges and tackling all these involves suspension of disbelief," Ashwini Asokan said.

The experience is humbling as all ego goes away. "You were in charge of a situation but now you are seeking help from other people. An entrepreneur alone on the road is just a salesperson," Dr Manjunath said.

When a person leaves a job and starts on his or her own, it is a complete new journey. There is no brand. "I had to bring in a lot of confidence in myself. A lot of learning and unlearning is involved because you are used to some kind of process. And then getting the trust of the doctors was the first step for NIRAMAI," Dr Manjunath said.

Ashwini Asokan had a design degree and passion for dance. Geeta Manjunath, on the other hand, had a secure job. But both of them ended up being entrepreneurs in the sector of artificial intelligence.

"You will become successful when you will be able to take decisions independently. Take inputs from the investors, but don't be too dependent on them," Naveen said.

Fearlessness, focus on people, a metric of expenditure are something  new startups must keep in mind. "Burning money is not good in the beginning. The cash to valuation ratio is very high in such a case. One should monitor this. There are so many startups in the country but has this number translated to the upliftment of the society?" Naveen said.

Recollecting his upbringing in UP, at theIIT campus, Naveen said that he was surrounded by a very academic atmosphere. "I did realise that I wanted to all of this into an application as I thought this was what India was lacking. That was always lingering on my mind. I did not know how to go about it as at that time all big things were done by the Tatas and Birlas," he said.

Startups, business organisations must reflect on why people are coming to work for them. Accordingly, they have to redefine their culture and values. "Apart from people, everything else is a commodity. Even strategy is a commodity. We focussed on giving people autonomy," Naveen said.

This is the phase which a company must go through to come out stronger. Sometimes companies do not come out stronger and that's unfortunate, Naveen Tewari said.

Entrepreneurship is all about being crazy, innovative and not about the method, Naveen Tewari says sharing about his journey. There were very few examples to look up to at that time as most of the global businesses were based out of the United States.