The panel consisted of four speakers:
1) Nandita Kanwar – Founder eConcero – A Market Research and Digital Marketing company which began in Aug 2015 with basic aim to help the startup or business understand the concept of Market Validation. They believe one has
to Test, Validate and then only Invest.
2) Renuka Rathode – Product Strategist @ Zebi – Was Founder of Adnest, a customer acquisition and retention platform that generates viral referrals for businesses, using social connections of their customers and advertisement and also aspired to be an online analytics and optimization provider. Moving on worked with VDeliver followed by Strategy and Product Development at Zebi and Co Country Lead for Headstart Mentor Initiative also being a fellow of SLP 2015.
4) Priya Anant – Co-Founder & Director Life Circle Health Services – They provide Home Nursing and Professional Caregiving to chronically ill and bedridden seniors in two cities Hyderabad and Delhi.
Aruna started at a stage when they never knew what Bamboo was all about and during the journey of last eight years they have now built two storey structures with bamboo. Bamboo being under forest restriction and Concurrent List along with working with tribals who live deep inside forest. Logistics and Communication was the major issue and there was not much Market Awareness as it is the concept on which the work is being done rather than the product.
They have been invited by the Kenyan government to develop a business model for their country in this domain.
Priya worked for 15 years in the Healthcare and Research industry being from the Management background. There were deep insights into the healthcare domain from the bottom of the pyramid. Creative freedom was constrained and there was no agility making it difficult to shift in an absolute way.
Entrepreneurship was a good way to think about the challenge in a country where population is aging and migration occurs due to opportunities. There are females coming from remote part with low level of education and have a skill trade but don’t get a fair deal. The company was started in 2013 with a subscription model and has seen three times growth in revenues in last financial year.
So how does the Product Market fit work and why there should be paying customers? These are the questions which a startup should ask themselves because when they are going to Venture Captialist or the firm is looking for acquisition. This learning’s never go down the drain.
eConcero did a Market Research for a budding startup and the results were not encouraging. When the response was shared with them they pivoted the model and from that moment they started doing well.
Delivering quality through resources is a sector wide problem in healthcare. So the team is hired from institutions recognised by Govt. of India and there is a system of feedback for the girls who come to work feel supportive.
VC’s raised a question that what if you get married two years down the line and stop running business. There is no right or wrong answer but the perception has to be changed and talent has to be nurtured to create a thriving ecosystem.