The eChai Ventures AI Social was a truly great experience.Yesterday, I had a pleasant time discussing various AI topics. The conversation with folks was enlightening, and I learned more about AI applications. Thank you, Jatin Chaudhary and GVFL Limited, for hosting such a wonderful social gathering.
Where do we all use AI nowadays? Be it in presentations, content creation, scanning interviews, job searches, education, on LinkedIn, reviewing documents, scanning documents, in e-commerce businesses using photography, or applying it to other skills.
The discussion on fantastic use cases was enlightening; there's a saying that a lot can happen over a cup of tea. Such great discussions are not always about showcasing who we are but often about understanding where the world is heading. The interaction with a few folks was great, and I'm looking forward to meeting and connecting with you again soon.
The discussion of AI's beautiful use cases across various domains—be it driving AI Nisarg Pandya, AI-driven interviews Vinit B Yadav, the education sector Niraj Harlalka, or the creation of mobile apps through AI—highlights its transformative power and versatility.
Nowadays, we often see blogs and posts from AI, and you can feel the difference between personally written and AI-generated content. It was also noted that sites using AI-generated content will be penalized, and the day may come when you have to credit your article as being generated by AI as thoroughly pointed out by Dipti Parmar.
Great mission of Ekta Shah founder of Biziverse is to empower Indian MSMEs to become world-class. Also discussion with VIKASH RAJPUROHIT founder of VastraApp, which is Vertical SaaS for the Textile Industry, was truly fruitful.
The clever integration of personal website visibility in the background during a concise two-line pitch adds a personalized touch that blends professional presentation .The commendable speed at which these tasks are executed is truly impressive Jatin Chaudhary.
In In the world of finance, as a qualified CA and CISA-certified professional, I look forward to more such use cases in the field, but along with ensuring data privacy and personal privacy. So, to conclude, AI is a companion, and we should use it wisely, not blindly. It can never replace humans but definitely saves time.
Curious about what went down at the eChai Startup Social with GVFL on March 14, 2024? Get ready to dive into a whirlwind of insights and takeaways straight from our participants themselves.
Mitesh Shethwala
, Founder, Currently
- For Graphics and Videos -
Midjourney, ChatGPT, Adobe AI,
You can use AI to replace lots of operational tasks and be more efficient.
For our edtech business. AI can be a great contributor for learners and content creators both. Apart from the most common use case of creating AI chatbot.
We are planning to utilize AI tools in Content Discovery, Development and Delivery. Which include Voice & Chatbot based content search on our platform, Video Creation, Text Generation & Summarization (Building Synopsis & Flash Cards), Voice Over, Making a lot of Text Learning more fun through animated videos etc.
I don't think we are looking at answers, mostly it's matter of implementation for us.
Nikita A Macquinn
AI for resume scanning and candidate shortlisting
Fresh team & Jobscan
AI solutions for training content build and e-learning content for LMS integration
Also I observed that AI for emotional health and intelligence assessment for hiring of critical roles and leadership is not there
Jimish Kapadia
AI for Startup Deal Evaluation AI for adding one strong point as an evaluation parameter for StartUp Founder
We are into fund raising for the startup and invest in early stage startups Evaluation is a critical aspects for any early stage startups as you have limited financials.
Looking for some innovative AI driven algorithm/parameters to implement in our evaluation process.
Tarjani Shah
We use various tools in our office for graphics, images, and presentations, including ChatGPT-4 and its plugins and DALL-E, as well as Microsoft Copilot. We also utilize software that leverages AI in the backend for tasks like GST reconciliation.
I recently shared a use case and a story titled "A Tale of Technology: AI's Impact on GST" on LinkedIn. You can find it here: https://l1nk.dev/Esd6Z.
Madhukar Sinha and Anand Lunia took us through some interesting insights on how India is evolving 🙌 and the trends coming up.
✅ With single kids and nuclear families in tier 1 cities, the spending of families have changed.
✅ Traditional Markets have matured to become specialised
✅ Online Retail started from Metro cities but #growth comes from Tier 2 & 3.
✅ Phygital Services coming up like Utsav App, where #technology is used to bridge the digital world with the physical world with the purpose of providing a unique interactive puja experience for the devotees. (Mentioned in Page 86)
Thrilled to share that I had the incredible opportunity to participate as a panelist at the meetup delving into the dynamic world of Product Management!
It was a pleasure to join fellow industry experts Sanjeet Kathuria, Harneet Kaur Chhabra and Sanket Bhatt in a riveting discussion on key practices and strategies shaping the field. The turnout was nothing short of amazing with 50+ product and growth folks and even founders showing up for an engaging evening!
Key Highlights from the discussion:
🎯 Being an advocate for customer empathy is fundamental for translating business needs into actionable insights to drive product growth. 🎯 GTM and product development should go hand in hand with a key focus on adopting early design partners and finding distribution channels that work for your startup. 🎯 Experimentation with product features, pricing and positioning can help unfold unforeseen avenues leading to higher customer engagement and business expansion
🙌 Huge shoutout to the organizers and host Jatin Chaudhary and Darshan Suthar for extending the invitation and for orchestrating such a successful event for the community.
Spent a dynamic Saturday morning with a group of dedicated entrepreneurs with eChai Ventures, exchanging invaluable insights and strategies for startup success. 🙌
We delved into key takeaways crucial for entrepreneurial success: 📈
1. Importance of Product Marketing: Emphasized the pivotal role of product marketing in effectively communicating the value proposition and benefits of your offering to the target audience.
2. Understanding CAC and LTV: Discussed the significance of Customer Acquisition Cost (CAC) and Lifetime Value (LTV) metrics in guiding sustainable growth and profitability strategies.
3. PLG and SLG Strategies: Explored the power of Product-Led Growth (PLG) and Sales-Led Growth (SLG) approaches, highlighting their respective advantages and suitability based on business models.
4. Finding Ideal Customer Profile (ICP): Stressed the necessity of identifying the Ideal Customer Profile (ICP) to optimize marketing efforts and enhance customer acquisition and retention rates.
5. Achieving Product-Market Fit (PMF): Recognized the importance of attaining Product-Market Fit (PMF) to ensure that your product resonates with the needs and preferences of your target market.
6. Importance of User Research: Underlined the critical role of user research in gaining deep insights into customer behavior, preferences, and pain points to inform product development and marketing strategies.
7. Significance of Customer Interaction and Insights: Highlighted the value of ongoing customer interaction and feedback loops in refining products, enhancing user experience, and fostering long-term customer relationships.
Here's to the power of collaboration and hustle! 💼🚀
My recent family visit to Jaipur would have been incomplete without a quick check-in into the start-up ecosystem. A few conversations with Headstarters and a last-minute meet-up with eChai Ventures helped me understand-
1. Jaipur and Rajasthan as a whole believe in business = profit > massive growth 2. Fundraising doesn't take as much precedence as building a sustainable business 3. Some of the most renowned start-ups and businesses like CarDekho Group, Razorpay, DealShare, and even Dexter Ventures have started and been built in Jaipur 4. The community is nascent, close-knit and growing 5. A lot of talent, very good talent is available thanks to the number of colleges and coaching institutes in the region
If you have been to or built-in #Rajasthan, I would love to hear your thoughts. Do tag anyone you would like me to meet the next time I'm in Rajasthan.
Startup Learning Series: Understanding ROFR vs. ROFO
ROFR (Right of First Refusal)
➡️ What is ROFR? The holder has the privilege to match any offer the seller receives before finalizing a deal with a third party. Essentially, they have the right to refuse an initial offer and step in with the same terms.
➡️ Example: Startup A grants an investor a ROFR. If the startup receives a funding/ acquisition offer from Company X, the investor has the first shot at matching that offer before the startup can proceed with Company X.
ROFO (Right of First Offer)
➡️ What is ROFO? Unlike ROFR, this gives the holder the first chance to make an offer before the seller approaches others. The seller is obligated to consider this initial offer before entertaining offers from third parties.
➡️ Example: Startup B gives an investor a ROFO. If the startup decides to sell a portion of its shares, the investor gets the opportunity to present an offer first before the startup explores other options.
Which is more beneficial for Startups?
➡️ ROFO: This can be advantageous for startups aiming to maintain control and nurture strategic partnerships. It provides a structured process for selling shares and ensures that existing stakeholders are considered first.
➡️ ROFR: Startups looking for flexibility might prefer ROFR. It allows them to explore various offers and potentially secure a better deal.
Which is more beneficial for Investors?
➡️ ROFR: Investors seeking security and the ability to protect their investment may lean towards ROFR.
➡️ ROFO: Investors looking for proactive involvement and a first-mover advantage may find ROFO more appealing. It allows them to set the initial terms and potentially secure a deal before others come into play.
Considerations for both Parties
➡️ Negotiation Power: ROFO gives negotiating power to the holder by allowing them to set the initial terms.
➡️ Flexibility: ROFR provides flexibility for sellers to explore various offers before committing.
➡️ Relationship Dynamics: Both agreements impact the dynamics between startups and investors, requiring a careful understanding of the long-term vision and goals.
Conclusion
➡️ The choice between ROFR and ROFO depends on the specific needs and goals of the startup and the investor involved.
➡️ It's not a one-size-fits-all scenario, and understanding the nuances is crucial for creating mutually beneficial agreements.
Thank you for the honour to be a #speaker at eChai's marketing event at Urban Vault in Bengaluru to talk about right market strategies for startups, smbs.
he room was quite full with close to 50 budding entrepreneurs from various age groups, states of india, and countries..majority being in their 20s to 30s.
The session was for 2 hours but went for 3.5 hours with 1.5 hours for questions and answers. These were the various questions asked:
Here are the list of questions in the meantime for each of us to answer:
1) What do you see are the new paradigm strategies of marketing 2) How has <your company> experienced the shift over the last few years or in 2024 and beyond. 3) What are the changes you have been experiencing and how are you responding to those changes? 4) What is the preferred future you see for entrepreneurs 5) What advice do you have for aspiring entrepreneurs and experienced entrepreneurs 6) What is a non negotiable for you moving forward? Plus there were around 20 plus questions from 1 to 1 discussion with entrepreneurs during the Q&A session.
Loved it thoroughly that echai is giving the #platform to entrepreneurs to come forward and learn through communities...good to see 4 #womeninbusiness#womenentrepreneurs there.
Many people asked me if I can mentor them or help them with marketing strategies. The answer is yes, of course.
People who expressed interests for follow up sessions, or for mentoring please book as you need it. Sharing the link based on popular requests: https://lnkd.in/gnkmHQcN
In 2020, I hosted a fire side chat with Mukesh Bansal, Co-Founder, Myntra and CureFit about brief history of Myntra, CureFit and his insights from building an iconic indian startup as part of The Red Bricks Summit by IIM Ahmedabad.
Mukesh is a technology entrepreneur with almost two decades of experience working with high tech consumer internet companies. After B.Tech in Computer Science from IIT Kanpur and working across engineering, product management, and leadership roles for four different early-stage tech startups in the Bay Area, he founded Myntra in 2007 which became India's largest online fashion retailer.
Mukesh co-founded Cure.fit in April 2016. Since then, the company has raised a total of $400 million of funding and acquired Cult, 1000Yoga, and Fitness First. Bansal, through Cure.fit, has been instrumental in changing the landscape of India's health and fitness industry.
You can check out the live recording of our conversation below.
Had an amazing time on the eChai's panel discussion last weekend about D2C startups, alongside Sanil Jain of 'The Better Shop' and Aayush Poddar of 'The Messy Corner'. 🚀
One of the highlights of the event was the exceptional quality of questions from the audience. 💡
Drawing from my own experiences, I was able to contribute to the discussion by sharing insights from my journey of building Clapper 🎬, and working with SUGAR Cosmetics.
Building Clapper, has given me a unique perspective on engaging with a young and dynamic audience. Understanding their preferences and constantly innovating to meet their needs has been key to our success. 💪
Whereas working with SUGAR Cosmetics has helped to understand the significance of branding and marketing in the beauty and personal care sector.
I hope that the insights shared during the session will inspire others to embark on their own journey. 🙏
First off, 🙌 Huge thanks to Aanchal Verma for the incredible LinkedIn post summarizing the event.
📝 Your attention to detail and the key points covered are nothing short of phenomenal.
👏 It's members like you who make these discussions even more impactful and enjoyable.
👥 Being on the panel with such insightful individuals was truly an honor!
🌐 The perspectives shared were not only eye-opening but also invaluable. As a panelist, I walked away with exceptional insights that will undoubtedly shape the way our team approaches working with the government.
🤝 Kudos to Sachin Bhavsar of Goa Myles and my fellow panelist Dhruv Chopra for inspiring this positive change towards government!
😄Hats off to Angana Chatterjee for bringing the perfect blend of humor and insight to our discussion! 🤣
🙏 Gratitude overflowing for eChai Ventures that provided an amazing platform to connect and collaborate! 🌐✨
✨Lastly, a huge shoutout to my biggest cheerleader Kanhai Porecha! Here's to the one who believes in me even when I doubt myself. 🥂
💡 I hope my contributions added value to the discussion, and it's heartening to witness connections being forged over this social platform.
🤝 Let's keep the conversation going! 🗣️
🔍 Looking forward to staying connected with all of you.
🌐 Feel free to reach out via LinkedIn DM if you have any questions, thoughts, or just want to continue the conversation. 📬
🚀 Here's to more insightful discussions, valuable connections, and positive transformations! 🌟 Let's make a difference together!
At Ahmedabad University's eChai meetup, hosted by the university's incubation center, I had the privilege of engaging with a panel of entrepreneurs who had appeared on Shark Tank India.
They candidly shared insights into their experiences on the show, revealing the realities behind the scenes, the impact of the exposure, and the invaluable feedback they received from the sharks. Additionally, they delved into their ongoing challenges and future plans for their ventures.
Their narratives of resilience and determination in overcoming obstacles were truly captivating.
The distinguished panelists included Raj Shah Co-Founder of WeHear; Payal Pathak and Soham Payal Pathak Co-Founders of The Simply Salad; Nayan Shah Co-Founder of Maisha Lifestyle; and @illesh sharma Founder of Same Notification.
Here are few notable takeaways from the discussion:
Establishing quality control in franchise models poses significant challenges in the Indian market.
Providing personalized attention during the startup phase nurtures enduring customer loyalty.
A distinct and recognizable brand identity is paramount for customer recall and loyalty.
Startups with high cash burn rates face heightened scrutiny in today's business landscape.
Crafting relatable content on platforms like Instagram enhances brand appeal and desirability.
Exceeding customer expectations is pivotal for young startups to foster loyalty and growth.
Transparency and authentic storytelling serve as cornerstones for building trust with both customers and partners.
Early recruitment of talented individuals drives both organizational growth and employee commitment.
Cultivating a robust professional network is essential, even if immediate benefits may not be apparent.
Maintaining humility and perseverance proves instrumental during challenging phases of business.
I extend my gratitude for the opportunity to participate in these enriching events and to connect with these inspiring entrepreneurs.
Special acknowledgment goes to Jatin Chaudhary from eChai Ventures for orchestrating such impactful conferences that unite our startup community.
> 1 million Applications Received across India 🇮🇳 > Only 1 Lakh Shortlisted > Only 800 Startups selected for Personal Interview > Only 200 pitches are selected to 'Present in front of Sharks' for Shoot at Film City.
Recently I got an opportunity to meet Pitchers at Shark Tank India at eChai meetup.
It was truly enlightening and inspiring, offering valuable insights and perspectives that will undoubtedly benefit me both personally and professionally.
> Chetan Kanani - A Visionary Businessman > Adil Qadri - Great gunda of his Niche > Mohit Gadhiya - Calm and Visionary Entrepreneur > Anand Nahar & Amrit Nahar - Concrete combo of Fun and Finance and Food > @𝐑𝐚𝐣 bhai 𝐭𝐚𝐭𝐡𝐚𝐬𝐭𝐮𝐥𝐢𝐯𝐞 - Senior most one and Authentic person
𝐓𝐨𝐩 5 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐌𝐞𝐞𝐭 𝐮𝐩
1️⃣ Focus on expertise, not just interface 2️⃣ Mind set is everything so be a part of Community and attend the Training Sessions of your niche 3️⃣ Entrepreneurs have vision not only Growth Plans 4️⃣ Don't be good, Be great at Business Finance Numbers 5️⃣ Be authentic all the time
Here are some key takeaways that resonated with me:
Considering Co-founders:
Jimish Kapadia sir shed light on the importance of considering co-founders from a VC perspective. While going solo isn't necessarily a problem, having a co-founder can significantly enhance credibility, especially if the product or idea is promising.
Fundraising Essentials:
Pankhil Baunthiyal emphasized the need to address three fundamental questions before diving into fundraising: When to raise funds, how to raise them, & how much to raise. These questions are crucial for strategic planning and negotiation, particularly in early-stage startups.
In addition to the invaluable insights gained, networking with fellow founders like Aryan Hinge from @Denner was truly enlightening. These interactions underscored the importance of building meaningful connections within the startup ecosystem.
Looking forward to sharing more insights from these enriching experiences and continuing to learn and grow alongside this incredible community!
around thinking about MVPs and what it took him to build Superblog ai. and also from
Amit Chavan
.
The highlights from my notes say:
- B2C is hard. Sigh. - Build stuff for yourself, solve your own problem. - Do primary research by looking over trends. - Consumer behavior change revolves around three axes: Energy, time, and money. - Your first set of customers will come from your Alpha and beta users. - Your organic channels could be from either of these: - SEO - Build in public - Word of mouth - Good PMs follow revenue/business. - Sales is getting the cheque in hand.
- SEO in the future might take a different form, could evolve into chat engine optimization.
And got connected to a few interesting folks as well.
"I felt like the Formula 1 car driving in the rain knowing that the guy coming at the back is going to have a great time" shared Mithun Sacheti, Founder of CaratLane - A Tanishq Partnership
In my day's dose of podcasts, it was wonderful to hear an entrepreneur being born out of a family business, one that built in what wasn't a sunrise sector yet still a category creator - jewellery! Mithun not only set the path for start-ups in the space but paved the way for everything operations from negotiating the need for it with courier companies to convince the need for it to the banks and even had to explain the concept of online cross-border buying and selling of jewellery to the government, keeping it all ready for the ones to follow.
Some aspects that stayed with me-
- Relationships and your network: The importance of building relationships leading to mentorship backed by one's capability. He mentioned two core ones with Srinivasa Gopalan and how he got Raakesh Jhunjhunwala to listen to him while he got his numbers up after the insights Raakesh Jhunjhunwala shared (listen for more context- it's worth it)
- Partnerships led growth: Partnering with Cartoon Network to introduce a range of products for the 0-5yrs old and also working closely on introducing products with themes like Doremon and Harry Potter exponentially increased their TAM (total addressable market)
The Titan Company Limited partnership is one that went through its course, it gave both brands enough leverage to grow. #Founders, if you want to hear your heart drop for a few minutes, listen to the Titan-Caratlane story shared in the first 30 minutes of the podcast
- Reverse due diligence: The team travelled across the country and even to the US to understand their potential investors. While VCs have a stringent DD (due diligence) process, the founders knew they had to be aware of who they were getting onboard
- Holocracy: Roles > Titles ( What's in a name right? It's more about what you do) and that's exactly what the CaratLane - A Tanishq Partnership spirit was. Your work defines your role, not your title.
It made me smile to hear this last bit when Mithun Sacheti shared with Karthik B. Reddy that the Power of compounding = Sleep peacefully!
The debut of Lightcone Podcast, a podcast series by Y Combinator.
Kicking off with "The Truth About Building AI Startups Today," this series brings you up close with the thoughts and insights of YC's own Gary, Jared Harge, and Diana.
In the first episode of the Lightcone Podcast, YC Group Partners dig into everything they have learned working with the top founders building AI startups today. They share the ideas that are working particularly well, mistakes to avoid, and take a look at the competitive landscape among the current AI giants.
Whether you're just curious about AI or deep into planning your next big venture, this is something you won't want to miss.
🚀Key Takeaways from eChai Ventures Sales Strategy Meet Up (I Moderated) at Ideas to Impacts Hub! But That's Just the Tip of the Iceberg!
What an energy-charged 2.5 hours we had yesterday (Saturday, Feb 10th’24)! As your moderator, I was blown away by the depth of knowledge and practical tips shared by our Panelist.
⭐️ Mastering Lost Deals: Suvikas Bhandari ji urged us to analyze even with high conversation rates, as the "why" behind lost cases holds the key to future wins.
📚Salesperson's Bookshelf: Get inspired and boost your negotiation skills with "Never Split the Difference: Negotiating As If Your Life Depended On It. Book by Christopher Voss and Tahl Raz”, and "The Art of War - Book by Sun Tzu”, recommended by Suvikas ji.
⭐️Scaling Your Sales Dream Team: Shyam HN shared a framework for building a high-performing sales development team, including adapting outreach channels to target personas and optimizing for results.
⭐️Building Trust, Closing Deals: Supriya’s insights on handling objections with intelligence and honesty resonated deeply, emphasizing the importance of trust in the sales journey. She also stressed prompt communication, responding within 24-48 hours and keeping prospects informed.
But that's just the tip of the iceberg! This post only scratches the surface of the valuable knowledge shared during the session.
Yesterday, I had the privilege of attending an exhilarating session at the eChai's Startup Growth Networking Meetup, hosted by the dynamic Jatin Chaudhary at the prestigious IIMA Ventures, Ahmedabad.
Our panelists, each a trailblazer in their domain, shared their unique journeys and invaluable insights:
Zaiba Sarang from iThink Logistics is revolutionizing the logistics sector by significantly reducing product return ratios - a game-changer for brands.
Aditya Shah from Because demonstrated how they're helping brands carve their unique voice in a crowded market.
Vishakha Shah from Venus Logistics shared her experiences in the distinct US logistics market, creating substantial waves in the industry.
Sushil Agrawal's initiative, Saarthi Pedagogy, is impacting over 10 lakh students across India, revolutionizing the educational landscape.
The energy was palpable as young entrepreneurs eagerly engaged with the panelists, seeking wisdom on multitasking and effective management as founders.
Ziaba's anecdotes about customer feedback enhancing their product, Sushil's insights on fundraising, Aditya's take on cultivating a growth-oriented work culture, and Vishakha's candid sharing of the challenges faced by female entrepreneurs, added layers of depth to the discussion.
Kudos to Jatin Chaudhary for his relentless efforts and consistency in creating this one-of-a-kind platform that not only connects but inspires and empowers the startup community.
The eChai Preferred Business Partners program enables businesses more visibility within the eChai Network through an annual subscription.
About eChai Business Partner Program:
Key benefits:
Listing on preferred eChai Business Partners page (1 year duration)
Engagement at relevant in-person eChai Meetups (~4 meetups/year)
Feature on eChai.Ventures
eChai Ventures is a friendly global startup network that hosts engaging Startup Growth meetups in 10+ Countries and enables cross-border collaborations.
You can reach out to Jatin Chaudhary, Co-Founder, eChai Ventures over WhatsApp or over email at [email protected] to explore more about it.
Mitesh Shethwala
Aditya Shah
Shalin Parikh
Nikita A Macquinn
Jimish Kapadia
Tarjani Shah
Sai Krishna
Amit Chavan
