TearDown NSRCEL – The May2018 Edition
What could be better for a startup, than a public showcase with critical feedback from an expert panel, and inputs from an audience filled with successful experienced entrepreneurs? The TearDown event powered by NSRCEL IIM is exactly that. The NITI Aayog supported event is meant to ‘tear down’ and ‘dissect’ startups to find solutions to business problems, and provide insights on company growth, product discovery, UI/UX and unit economics. The entrepreneurial fete takes place every month, in which 3 startups are shortlisted from a huge pool of applicants. The May 19th edition of TearDown saw more than 70 startup applications, out of which the lucky three were as follows:
- Airim: A widget for websites that provides FAQs, surveys and search options for customers, enabling them to quickly find the product/information they are looking for.
- Meddiff: A web based platform that provides PACS, RISPACS, and Tele-imaging solutions for medical purposes. The company now wants to dive into the field of AI to generate automated X-Ray scanning test results.
- 99tests: A World leader in crowdsourced platform for Software Testing, Testers and Mobile Devices.
INTRODUCTIONS AND KEYNOTE
The event was kicked off by Mukta who spoke about NSRCEL, followed by Kesava Reddy who talked about TearDown and described it as a ‘no nonsense event’, and truly it was; a serious affair meant exclusively for entrepreneurs. The distinctive keynote was given by one of the panel members, Parag Dhol. He broke down the process of being a successful entrepreneur in a quirky presentation into seven neatly packaged steps. He highlighted the importance of creativity, passion, story telling, decision making, patience, ethics and drive in the journey to entrepreneurial success.
The startups had great product ideas, but each of them were struggling with pain points specific to their enterprise. The panel’s advice was specifically curated to each of their challenges, and at the same time, their suggestions could easily be applied universally to all companies. The panel was brutally honest while giving their detailed thought-out feedback. Each of the three shortlisted startups: Airim, Meddiff and 99tests gave a small presentation and demo in the showcase. The panel, who had already had a private hangout session with the upcoming entrepreneurs, had their inputs ready in hand. Each panel member was a master in a specific business sub-field of Design, Market, Customer, Tech and Investor. The five member panel team included:
- Maansi Sanghi (the CMO of Lavelle Networks)
- Parag Dhol (Managing Director at Investus Capital Partners)
- Yuvraj Loganathan (Director – Platform engineering at Botmetric)
- Ashish Solanki (Founder & Design Director at NetBramha Studios)
- Hrishikesh Kulkarni (Mentor in Residence @ NSRCEL, Director – Product, FreshDesk)
Maansi Sanghi, a strong woman entrepreneur holds a long list of experience with launching and scaling new B2B products. She was an essential part of the panel who shared her insights in the field of marketing. Her revelation on the importance of pinpointing the target audience; clarity in messaging; proper website content placing, were invaluable. Her ultimate tip for startups was that “Startups shouldn’t ignore marketing”. She expressed her opinion for the need of startups to develop a good marketing team in the initial stages of their growth, rather than later. Marketing is vital for the development of startups, and sadly new businesses often fail to realise this.
The TearDown team plans to aid and abet more that a hundred startups in the next 12 months. So if you’re a startup who wants to take off and eliminate business challenges, TearDown is a quintessential arena for you. You can either apply to be ‘torn down’ or register to witness the Hunger Games of the business world.
Read the entire May 19th edition TearDown series for an in depth view on Airim and 99tests, their entrepreneurial journey, and their personal experience with TearDown. Follow TearDown on Twitter for updates and information on future TearDown Events. What to know more about events for startups? Follow NSRCEL’S Twitter account, to be a part of IIMB’s startup hub.