gbs 2024: snapdeal co-founder kunal bahl shares insights on early startup challenges
At the ET NOW Global Business Summit 2024, Kunal Bahl, co-founder of Snapdeal and Titan Capital, shed light on the early days of venturing into the turbulent startup environment. Reflecting on the inception of their business in 2007, Bahl highlighted that the term “startup” wasn’t widely known, and the concept gained national recognition only after Prime Minister Modi’s launch of Startup India.
During those early years, domestic capital was scarce, and only five venture capital firms existed. Bahl reminisced about their journey into investing, recalling a pivotal moment in December 2007 when they made their first investment of Rs 30 lakhs in Ola, a fledgling startup. He emphasized their ethos of supporting founders by being the first to invest and committing for an extended period.
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Namita Thapar, CEO of Emcure Pharmaceuticals, shared her motivation to start investing in startups. Coming from a family of first-generation entrepreneurs, Thapar expressed a desire to give back to the entrepreneurial ecosystem. Her excitement about participating in Shark Tank India and the belief that staying connected with the startup ecosystem was essential for relevance further fueled her decision. Thapar recognised technology as the key solution to address critical challenges in the pharmaceutical sector, specifically targeting issues of awareness, access, and affordability.
Mukesh Bansal, Founder of Cure.Fit and Myntra, provided insights into his perspective as a founder actively involved in running a fund and making personal investments. With 25 years of startup experience, Bansal acknowledged witnessing five cycles of market changes since the late 1990s. He found joy in the process of building outstanding products and expressed optimism about the evolving dynamics of the market.
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About ET Now Global Business SummitThe Times Group presents the ET Now Global Business Summit as a distinguished platform that has in the past hosted an illustrious array of personalities, both from India and around the world.
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