Stride Ventures’ flagship event, Stride Forward 2024, marked a significant milestone in India’s startup landscape. It brought together industry leaders, innovators, and visionaries to discuss the future of entrepreneurship and investment. The event, a testament to Stride Ventures’ remarkable journey from a single co-working space to a global venture debt leader, showcased the dynamism and potential of India’s burgeoning startup ecosystem.
From Co-working Space to Global Ventures: Stride’s Remarkable Journey
At the heart of the event was the remarkable journey of Stride Ventures itself. Ishpreet Singh Gandhi, Founder of Stride Ventures and StrideOne, reflected on the company’s exponential growth over the past five years. “From a perspective of the last five years, learning briefly has been just trying to innovate as much in an agile manner, get the right people in the journey, co-create this with them, and find a fit which we never envisioned honestly,” Gandhi remarked, encapsulating Stride’s journey from its humble beginnings to its current status as a marquee player in the venture debt space across multiple continents.
Today, the company’s portfolio boasts an impressive 140 companies, including 13+ unicorns, with total investments reaching $650 million.
Powering the Green Revolution: Insights from the Climate Innovation Panel
The Climate Innovation Panel addressed pressing environmental challenges and opportunities in the cleantech sector. The panel, featuring Rajat Verma of Lohum, Neeraj Jain of Solar Square, Pulkit Khurana of Battery Smart, and Vivek Jain from Stride Green, addressed these urgent challenges and opportunities.
The panel delved into India’s unique challenges as the third-largest emitter of greenhouse gasses yet one of the lowest per capita energy consumers. The discussion highlighted the importance of frugal innovation, building trust, and fostering collaborative partnerships to drive the country’s sustainable transition.
Emphasizing the circular economy, Mr. Verma added, “If I can get everyone to raise their hands next time, I think I would have done a good job,” stressing the importance of widespread participation in climate action.
The Fintech Frontier: India’s Digital Financial Revolution
The Fintech Panel, featuring industry stalwarts Zarin Daruwala, Standard Chartered Bank; Jaspal S Bindra, Centrum Group; Sarbvir Singh, Policybazaar and Madhusudanan R, M2P Finance, discussed the evolution of India’s fintech industry.
The panel explored four phases of the digital journey, from early 2000s RTGS to the current era of neo-banking and digital banks. Zarin Daruwala discussed Standard Chartered’s digital initiatives, including open banking and AI-driven hyper-personalization. At the same time, Jaspal S Bindra emphasized the immense untapped opportunity in cross-border payments, the “big opportunity waiting to be unfolded” in Indian fintech. Sarbvir Singh from Policybazaar shared insights on democratizing financial services, with two-thirds of the company’s business coming from outside the top 8 metro cities. Madhusudanan R from M2P Fintech provided a unique perspective on the role of India’s public digital infrastructure in enabling fintech innovations.
The panel underscored the transformative impact of fintech on India’s financial landscape, which is driven by innovation and digital infrastructure. As India’s fintech sector continues to evolve, it holds immense potential to shape the future of global financial services.
The Art of Storytelling in Business
In a captivating session, legendary lyricist and writer Javed Akhtar and Guneet Monga, the film producer behind the Oscar-winning documentary “The Elephant Whisperers,” shared insights on storytelling in business. Drawing parallels between filmmaking and entrepreneurship, Akhtar mused, “Cinema, like life, is about finding the balance between what the heart wants and what the future holds. That’s the beauty of storytelling – capturing both the spirit of the present and the hope for tomorrow.”
His words resonated deeply, encouraging entrepreneurs to balance their creative visions with practical considerations- a crucial skill in the volatile world of startups.
Guneet Monga, known for her risk-taking and path-breaking films, discussed her journey with projects like “The Lunchbox,” showcasing her resilience and passion for the art of storytelling. She highlighted the importance of following one’s dreams, even in the face of naysayers and conventional wisdom.
The panel provided valuable insights for the startup ecosystem, encouraging attendees to find the right balance between their “Dil Chahta hai” (what the heart desires) and the “Kal Ho Na Ho” (uncertainty of the future) mindset.
Leadership Lessons from the Cricket Field
Cricket icon Rahul Dravid shared his experiences transitioning from a batter to a wicketkeeper, drawing parallels with business adaptability. “What fascinated me about the role was just being able to do that little bit extra that would make this team better… I truly believe that people must be able to contribute over and above what they’re expected to do,” Dravid remarked, emphasizing the importance of versatility and team spirit in sports and business.
In discussing his transition from player to coach, Dravid highlighted the need to start anew, recognizing that experience in one area does not always translate seamlessly into another. This humility to relearn and adapt is crucial for growth.
Overall, the panel provided rich insights into the mindset and qualities required for success, not just in cricket but in any team-oriented endeavor. Dravid’s reflections offered valuable lessons on leadership, perseverance, and the spirit of continuous improvement.
Visionaries Speak: Insights on Business Building and Investment
The keynote sessions provided a masterclass in investment philosophies. Sanjeev Bikhchandani of Info Edge challenged conventional wisdom with his approach to the Total Addressable Market (TAM), stating, “I don’t do TAM. TAM will take care of itself over time.” This unconventional view encouraged entrepreneurs to focus on creating value rather than chasing market size.
Complementing this, Sunil K. Munjal of Hero Enterprise emphasized the importance of organizational culture. “We look for founders who have a conservative outlook on strategy but a very aggressive outlook on operations,” he shared, highlighting the delicate balance between prudence and ambition that defines successful startups.
Together, they showcased how blending innovation with strong ethical foundations can lead to resilient and successful businesses in India. Their discussion underscored the importance of visionary thinking and a commitment to integrity and social responsibility.
India’s New-Age Entrepreneurs: Capturing Global Opportunities & Empowering Local Value Chains
The Stride 2024 event brought together a panel of industry luminaries to discuss the evolution and growth of the Indian startup ecosystem. The panel featured Vishal Mahadevia, Asia Private Equity and Global Financial Services, Warburg Pincus; Rajiv Memani, EY India; Udai Dhawan, Affirma Capital and Ishpreet Singh Gandhi, Stride ventures and StrideOne
Vishal Mahadevia highlighted the positive sentiment among investors, stating, “Everyone is looking towards India,” and that recent policy changes, such as removing the angel tax, have been “game-changers.” He expressed the firm’s confidence in India’s growth potential, revealing, “We’re going to invest 10,000 crores in India this year alone.”
Rajiv Memani emphasized the opportunities for Indian startups to go global, particularly in the services sector, while stressing the need to simplify the compliance burden for entrepreneurs. He observed, “I think right now the way it appears to me is they’re maximizing there, and they’re also looking for those who are successful, they’re looking at lateral opportunities in the space,” pointing to the government’s proactive stance in nurturing the startup ecosystem.
Udai Dhawan shared his views on the improving exit landscape, with the public markets becoming more accessible and providing better liquidity options. Ishpreet Singh Gandhi, the Founder of Stride Ventures, highlighted the increasing focus on profitability and governance among new-age businesses, leading to a shift from revenue multiples to profitability multiples in valuation discussions.
The panel discussion provided a comprehensive overview of India’s economic climate and prospects, underscoring the surge in investment activity, the supportive policy environment, and the evolving landscape of exits and valuations in the thriving startup ecosystem.
Navigating Modern Consumer Behaviors in the Evolving Ecosystem
The final panel at the Stride 2024 event brought together a diverse group of entrepreneurs and investors, including Apoorva Sharma from Stride Ventures, Kaushik Mukherjee from Sugar Cosmetics, Rohit Bansal from Titan Capital and Snapdeal, Shivam Tripathi from NewMe, and Amit Lakhotia from Park+
Apoorva Sharma, the only woman managing partner in the venture debt space in India, highlighted Stride Ventures’ growth and achievements, reflecting on her pioneering journey. Kaushik Mukherjee of Sugar Cosmetics discussed their innovative approach to breaking into the crowded beauty market by focusing on direct communication with a younger demographic.
Rohit Bansal of Titan Capital and Snapdeal shared insights on their long-term investment strategy, emphasizing the importance of identifying trends early and building sustainable businesses. Shivam Tripathi of NewMe spoke about staying ahead of fast fashion trends by leveraging data and maintaining a flexible supply chain. Amit Lakhotia of Park+ explained the company’s journey from being a parking app to a comprehensive car management platform, highlighting people’s emotional connection with their vehicles.
The panelists offered valuable perspectives on navigating the evolving consumer landscape, underscoring the need for innovative approaches, data-driven decision-making, and a deep understanding of customer behavior and preferences.
Beyond Business: A Cultural Crescendo
Amidst the serious discussions and business insights, Stride Forward 2024 didn’t forget the importance of culture in India’s identity. Performances by the Shillong Choir and a stirring rendition of “Chak De India” added a vibrant, emotional dimension to the event. These cultural elements were a powerful reminder of India’s rich heritage and the diverse tapestry that fuels its innovation engine.
Striding Forward into a Promising Future
As Stride Forward 2024 drew close, the event left participants with optimism and purpose. The discussions, ranging from climate innovation and the fintech revolution to storytelling and sports leadership, underscored the multifaceted nature of India’s growth story. Through this landmark event, Stride Ventures reaffirmed its commitment to fostering innovation, supporting entrepreneurs, and contributing to India’s journey towards becoming a global economic powerhouse.
In the words of Ishpreet Singh Gandhi, “We keep on speaking about small businesses having credit Gaps, and the figure keeps on getting enormous every year with the GDP expansion, but very few people try to customize products in an agile manner to understand what the business wants.” This sentiment was a commitment to understanding, adapting, and innovating to meet the evolving needs of India’s dynamic business landscape.
As the curtains fell on Stride Forward 2024, it was clear that the event had not just celebrated past achievements but also laid a roadmap for the future – a future where India’s startups continue to break barriers, innovate fearlessly, and make a global impact.
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Stride Forward 2024: Celebrating Innovation and Entrepreneurship in India’s Startup Ecosystem
