Even that infamous Bengaluru evening downpour, which led to an even more infamous Bengaluru traffic snarl, couldn’t stop the tenth edition of the Economic Times Startup Awards (ETSA) from becoming the most rocking one yet.
Graduating from sneakers to tan leather shoes and from t-shirts to shirts, the ETSA 2024 was the passing out parade for a generation of startup entrepreneurs, with the next gen – duly clad in their t-shirts and sneakers – ready to take over the disruptor tag.
With a whole pride of startups at the cusp of introduction to the public markets or having listed, conversations weren’t so much about the next round of funding and the quantum of runway left, but about the execution needed to go global.
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Peeyush Bansal, founder of Lenskart that bagged top honours at the ETSA, was clear about what needs to be done next. “We need to change the orbit we’re operating in. We have to change our equation in terms of creating impact globally, like Microsoft or Google. We are so awed by global brands…the same needs to happen to Indian brands globally.”
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It was a message that resonated. Vidit Aatrey, cofounder and CEO of Meesho, said, “Today, the panel was talking about what it takes for the ecosystem to move forward, shifting from just becoming profitable to aspiring to build global companies – something a lot of people can benchmark.”Chaitanya Ramalingegowda, cofounder at Wakefit, agreed. “The discussions were not about survival, fundraising, or valuation. It was about the next 5 years, 10 years, going global. This was a very good change,” he said.
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The next gen is restless to get the job done.
No one excluded that confidence more than Zepto founder Aadit Palicha who said, “There is no market size excuse, no capital excuse. It is only execution. We have to build truly exceptional internet companies in India. Companies that generate hundreds of millions of dollars in free cash flow.”
Numero Uno
GV Ravishankar, managing director of Peak XV Partners, was unequivocal in pointing out that the ETSA was the undisputed unmissable evening for the ecosystem. “I’ve never missed this event. I’m always here because I think it’s the best congregation of the brightest and the best in the industry.”
As Ritesh Banglani, partner at Stellaris Venture Partners, put it succinctly, “ETSA is the Met Gala of the startup social calendar – the one evening a year founders and VCs congregate to toast our industry. Everyone is there because everyone else is there. Just walking around in the lobby, I met long lost friends from other cities and other decades.”
“Conversation topics ranged from upcoming IPOs, Indian family offices’ demand for private stocks, unseasonal Bangalore rains and the availability of motorcycle spare parts,” he added.
Explains why even the quintessential Gurgaon startup poster boy, Zomato founder Deepinder Goyal, who hasn’t dropped by Bengaluru since 2017, couldn’t resist the lure of the tenth edition of ETSA.
True to the ETSA entrepreneurial spirit, Unacademy founder Gaurav Munjal wanted to squeeze those extra few minutes of work, deciding to drop in at the awards, run quickly to his office, and then come back in a jiffy. “The office is just five minutes away,” he smiled.
That is what this evening was all about – tenacity and ambition. Afterall, as TC Meenakshisundaram, founder of Chiratae Ventures, said, “This is a celebration of the startup ecosystem.”