The afternoon might have been warm, but the evening when the brains behind India’s finest startups trade hoodies for linen jackets, was effortlessly cool, Bengaluru cool. The 11th edition of The Economic Times Startup Awards (ETSA) was part high-decibel celebration, part deep reflection.
Well, deeptech reflection, to be precise. This was the evening that a bunch of emerging technologies and those who work to weave disruption—and businesses—out of them took front and centre. From the minister to the money bags, the buzz was about quantum computing, space tech, genetic engineering and other assorted stuff from geek heaven. Having met a bunch of deeptech startups in the city, Piyush Goyal, the minister of commerce and industry, said his engagement with them was “truly an eye-opener”. He added: “I heard of some wonderful work being done on quantum computing, applied artificial intelligence modules and platforms, and cybersecurity is now catching flavour.”
That sentiment was clear and present across the audience, too. So much so that one investor was overheard remarking how deals in deeptech have become tougher to pull off since the elite of the VC universe—PeakXV, Accel, etc.—have pivoted big time into investing in these companies. When they were not talking about deeptech, folks were in animated conversation about the extremely grown-up business of going public.
Rohit Bansal, cofounder, Titan Capital was ecstatic to see the continued appetite for startup IPOs. “As an investor, it is absolutely heart-warming to see the kind of IPOs happening in India. Today, there are dozens of companies that have listed in India, and their great listings reflect the tremendous appetite that both retail and institutional investors have for participating in these IPOs. I’m truly excited and bullish.” With all eyes squarely on the Lenskart IPO at the moment, varied views on valuations were exchanged. Some deemed their market cap too high, others found it fair.
On his part, Lenskart CEO Peyush Bansal, sporting a wide smile and twinkling eyes, had this wry take on the widely differing views on his valuation. “When I was at Microsoft, in my mid-year review, the manager said that I handle criticism really well. That was the only positive thing she had written in the appraisal.” Bansal was incidentally the first of the startup bigwigs to arrive at The Leela Palace for the event.
India Quotient founding partner Anand Lunia said he believes continuing to build while in the public eye helps entrepreneurs build better. “Going public early is better. It's okay to build in public. It is fine. If you look at Zomato, they were able to grow Blinkit practically after going public. It is a good thing.”
While on the topic of good things, for the generation that built India’s digital dream, ETSA is akin to an annual reunion. For the new kids on the block, it is the place where their next-big-thing ideas find champions and allies. The buzzier India’s startup ecosystem gets, the livelier ET’s jamboree becomes.
As Mayank Kumar, cofounder, BorderPlus says, “If you track the evolution of the ET Startup Awards, you can actually see how the startup ecosystem itself has evolved.”
Meanwhile, Rajan Anandan, managing director, Peak XV Partners, was going gaga over the ever-improving quality of founders. “All I can say is that every year keeps getting better in India. As a firm, we feel fortunate to be investors in India and to partner with such extraordinary founders.”
Wafting through the crowd, one could overhear a variety of topics, ranging from innovative uses of AI that the kids of some of the founders and VCs were teaching them to that perennial favourite—the state of Bengaluru traffic and how to solve it. Hopefully one of those in attendance could use the former to solve the latter and make life smoother for the next generation of founders.
ETSA has, over the years, been the venue for many a new connection, and this year too plenty of phones got bumped around as people exchanged numbers, firming up plans to meet up over coffee or beer.
Well, deeptech reflection, to be precise. This was the evening that a bunch of emerging technologies and those who work to weave disruption—and businesses—out of them took front and centre. From the minister to the money bags, the buzz was about quantum computing, space tech, genetic engineering and other assorted stuff from geek heaven. Having met a bunch of deeptech startups in the city, Piyush Goyal, the minister of commerce and industry, said his engagement with them was “truly an eye-opener”. He added: “I heard of some wonderful work being done on quantum computing, applied artificial intelligence modules and platforms, and cybersecurity is now catching flavour.”
That sentiment was clear and present across the audience, too. So much so that one investor was overheard remarking how deals in deeptech have become tougher to pull off since the elite of the VC universe—PeakXV, Accel, etc.—have pivoted big time into investing in these companies. When they were not talking about deeptech, folks were in animated conversation about the extremely grown-up business of going public.
Rohit Bansal, cofounder, Titan Capital was ecstatic to see the continued appetite for startup IPOs. “As an investor, it is absolutely heart-warming to see the kind of IPOs happening in India. Today, there are dozens of companies that have listed in India, and their great listings reflect the tremendous appetite that both retail and institutional investors have for participating in these IPOs. I’m truly excited and bullish.” With all eyes squarely on the Lenskart IPO at the moment, varied views on valuations were exchanged. Some deemed their market cap too high, others found it fair.
On his part, Lenskart CEO Peyush Bansal, sporting a wide smile and twinkling eyes, had this wry take on the widely differing views on his valuation. “When I was at Microsoft, in my mid-year review, the manager said that I handle criticism really well. That was the only positive thing she had written in the appraisal.” Bansal was incidentally the first of the startup bigwigs to arrive at The Leela Palace for the event.
India Quotient founding partner Anand Lunia said he believes continuing to build while in the public eye helps entrepreneurs build better. “Going public early is better. It's okay to build in public. It is fine. If you look at Zomato, they were able to grow Blinkit practically after going public. It is a good thing.”
While on the topic of good things, for the generation that built India’s digital dream, ETSA is akin to an annual reunion. For the new kids on the block, it is the place where their next-big-thing ideas find champions and allies. The buzzier India’s startup ecosystem gets, the livelier ET’s jamboree becomes.
As Mayank Kumar, cofounder, BorderPlus says, “If you track the evolution of the ET Startup Awards, you can actually see how the startup ecosystem itself has evolved.”
Meanwhile, Rajan Anandan, managing director, Peak XV Partners, was going gaga over the ever-improving quality of founders. “All I can say is that every year keeps getting better in India. As a firm, we feel fortunate to be investors in India and to partner with such extraordinary founders.”
Wafting through the crowd, one could overhear a variety of topics, ranging from innovative uses of AI that the kids of some of the founders and VCs were teaching them to that perennial favourite—the state of Bengaluru traffic and how to solve it. Hopefully one of those in attendance could use the former to solve the latter and make life smoother for the next generation of founders.
ETSA has, over the years, been the venue for many a new connection, and this year too plenty of phones got bumped around as people exchanged numbers, firming up plans to meet up over coffee or beer.
