Fortune India 40 Under 40: Embracing India’s entrepreneurial spirit

India’s brightest young entrepreneurs gathered for the ninth Fortune India 40 Under 40 Awards in Mumbai on August 30, where innovation and resilience took centrestage. The event celebrated trailblazers from diverse fields and featured discussions on the dynamics between legacy and first-time entrepreneurs, starting up again, and the vast opportunities within India’s thriving ecosystem. From pivoting business models to reinventing family legacies, the insights shared were as inspiring as the awardees.

Legacy next-gen versus First-time founders

The first panel highlighted the distinct, yet crucial challenges and opportunities faced by legacy next-gen and first-time entrepreneurs.

First-time founder Suraj Saharan of Delhivery shared how the company pivoted from food delivery to e-commerce logistics, seizing a market gap. Rishabh Shroff of age-old Cyril Amarchand Mangaldas, on the other hand, highlighted the constant need for reinvention in legacy businesses. Meanwhile, Pranav Kapoor of Pkapo Fragrances, emphasised the importance of failure in driving growth, particularly in the D2C space.

“If you don’t adapt and if you don’t change, how does it sustain in the future? You don’t have the option to fail multiple times,” Kapoor said.

The panel also touched on the evolving landscape for entrepreneurs in India. Abhishek Chakraborty of DTDC Express reflected on the difficulties startups faced in the past, noting how premiumisation helped his business stand out. Ankush Grover of Rebel Foods discussed how they innovated with dark kitchens, despite initial scepticism.

Starting-up Again

During the second panel discussion which was themed on "Starting Up Again," emphasising the importance of having a clear vision and strong motivation before re-entering entrepreneurship, Chaitanya Ramalingegowda, co-founder of Wakefit highlighted the value of relationships and continuous learning

“Relations are built not because you want something out of them. They are built because it's the right thing to do,” said Chaitanya from Wakefit.

Adding to this, Anmol Singh Jaggi, CEO of Gensol Engineering, emphasised the importance of building complementary teams to drive success in a new venture.

“For example, if I am a great zero to one guy, I want more people who think 1-10. If I have good fundraising capabilities, I want people stronger with operations,” said Jaggi.

Vivek Biyani of Broadway and Keshav Reddy of Equal shared their experiences of transitioning from established family businesses to new startups, underscoring the challenges and excitement of starting afresh.

Another panellist Sakshi Chopra of Peak XV Partners expressed enthusiasm for working with second-time founders, stressing that failure can be a powerful teacher.

The India Opportunity

In his fireside chat with Shashwat Goenka, K.V. Kamath highlighted India’s vast opportunities for young entrepreneurs and urged them to focus on the Indian market amid global uncertainties.

Having held leadership roles in top financial institutions, Kamath also warned about the risks of debt, advocating for a cautious approach with a focus on equity as the primary funding source.

“Debt is a double-edged sword. When the going is good, it can generate high returns, but in case of reverse, you can fall on the sharp side of it,” he said.

The ninth Fortune India 40 Under 40 Awards showcased vibrant discussions and inspiring energy, celebrating the entrepreneurial spirit of India’s most dynamic founders and trailblazers.