Select the Right Investors Rather than a High-Value Proposition

Eyeware unicorn Lenskart’s co-founder Peyush Bansal talks about the importance of startups selecting the right investors rather than a high-value proposition.

Indian Brands Can Build Globally
India's high caliber of engineering talent gives it a significant natural advantage in manufacturing. Besides, India’s varied tropical climate makes it a low-cost solution to the world's environmental challenges.

It wasn't necessarily that we lacked opportunities in India; rather, we were driven by a vision to address the global problem. To make Indian companies global, investors' support is crucial, and they must be open and honest. Instead of spending a lot of time listening and analyzing the competition, we can concentrate on returning to the customers who wish to live high-quality lives. Dealing with safety is crucial for that reason. We shall remain anchored, even though we achieve a great profit.

Where does an Indian brand have the right to win globally, and where brands have failed?
When discussing the brand, two important things must be taken into account. Firstly, we should not focus on high-value propositions at the beginning. Second is the ecosystem. We have to take into account the long-term impacts of varying cultures, including the notion that some individuals may not be as industrious as those in India. People are not putting in as much effort as seen in India. When we try to introduce the positive elements of hard work into those cultures, we face challenges and a lack of acceptance from those communities. If possible, integrate with the locals and the environment; you might feel let down if you don't achieve the same level of effort. Thus, you will need to navigate around certain regional limitations.

Fundraising Design
We don’t have any opportunity to design

fundraising. I have always believed that selecting the right partners is more important for a survival mission. A partner who believes in you and can trust you—in good times and bad times—is the partner who stays long-term with you. I never say a partner is good or bad. It is just like any marriage; we have to face all the stages of life. When we were getting the partners at every stage of the business, we were very clear that we were not here for the next meeting. We are here for the next couple of years. When we get an RDR segment, they can stay in the company for many years. Many startups get high-quality partners, but not for the long term. I see the same problem in the Indian ecosystem. What matters is the transformation that you should be ready to accept.

Precision-Driven Manufacturing and Technology
In precision-driven manufacturing, there is a lot of science and IP in the environment. India is going to be one of the biggest countries being challenged by environmental issues. I believe there are a lot of technological opportunities to address this. Because of our ecosystem of engineering and optimization, we are ten times more adept at manufacturing than other nations. Thus, I believe that many entrepreneurs are still looking for opportunities to take on the challenge. However, anything you sense in the consumer sphere is present in India. India's industrial sector has an inherent advantage, but progress won't occur suddenly, and we need to put a lot of effort into making it happen.

Architects produce medical solutions and medical digital transformations by designing niche equipment

Hardest Challenging for Manufacturing Startups in India
There are challenges in India because of the diversity, but we have an opportunity to solve the problem because most of these problems have a solution. If we take the example of the medical ecosystem, the number of people who do not have access to high-quality medical care is countable. Architects produce medical solutions and medical digital transformations by designing niche equipment. So we have talent and people to take up the challenge and solve the problem.