Ambuja Neotia Incubation Private Limited (ANIPL) (ANIPL): A LEADING STARTUP INCUBATOR AND ACCELERATOR
Every year a multitude of startups are born, but not all survive the complexities of the market. Do you know why? The lack of required support and mentorship during the initial phase is an apt answer. Neotec Hub is a Startup Incubator & Accelerator from the Ambuja Neotia Group with the vision of Converting Dreams of young entrepreneurs, who are operating in the tech domain with a focus in healthcare, hospitality, education and real estate. Its current cohort consists of Startups working in Fintech, IoT, Biotech, EduTech, AI and DeepTech domains.The three pillars of Neotec Hub are, Sanjay Sarda-Director of ANIPL and President Corporate Strategy, Ambuja Neotia Group, Parthiv Neotia- Director ANIPL, and Surojit Roy- Head of Operations. Innovative Zone team caught up with Sanjay Sarda to have some in-depth insights of the organization. Here are some excerpts from this interaction:
CAN YOU BRIEF US ABOUT THE COMPANY AND ITS OFFERINGS?
Neotec Hub based at Kolkata is one of the leading Incubation & Acceleration Hub in Eastern India from the house of Ambuja Neotia, which is one of the most respected business groups in the country, having businesses for more than two decades in domains of Realty, Hospitality, Healthcare and Education. We incubate Startups with early revenue, either hardware or application services in our Incubation Programme who have already developed a prototype or MVP and have some market traction.
We engage with them taking equity stakes and provide end-to-end mentoring on their product positioning, fine tuning of their go-to-market strategy, business connects & investor connects and help them to take their business to the Pre Series A level.
We provide the required seed fund based on the business plan drawn up and facilitate any additional bridge funding from the external market as and when needed. We also have a structured Acceleration Programme, wherein we take minor equity stakes for mentoring and help them to raise funds from the market and through our network of angel investors, HNIs, VCs and PEs against a success fee and gradually equip the Startups in their growth journey to reach Series A stage, wherein we would like to normally take an exit.
HOW DID YOU START? SHARE WITH US YOUR INCEPTION SAGA
We started in 2017. We felt that the Start-Up Ecosystem which was buzzing in other parts of the country, needs to be activated in Eastern India too and as a responsible Corporate, we should take this initiative to support young entrepreneurs Convert Dreams. Thus, the idea of Neotec Hub, to create an entire Ecosystem in Kolkata was born.
We found out that the primary reasons why startups fail are not because the idea is not Innovative, Scalable or Sustainable and also not because of the Team being incapable or lacking passion & drive. Most Startups fail due to the inability to do the Go-to-Market, loss of bandwidth from the crucial focus on Product/Market to the efforts on somehow arranging funds for a hand-to-mouth existence, lack of proper Mentoring and the absence of a supporting Ecosystem. We designed our Incubation & Acceleration Programs to address these specific points and help young entrepreneurs in converting their Dreams.
This gave the Group the impetus and inspiration to change the lives of numerous young and ignited minds who were thriving with ideas but were not getting the right platform and ecosystem to develop their ideas into a Startup venture. Neotec Hub provides the necessary Ecosystem where Start-Ups, Academia, Corporates, Govt. Bodies, Investors – all come together to help in making the journey of young entrepreneurs, a truly successful one.
The business verticals of the Ambuja Neotia Group also helped in providing test beds to the various business ideas and product prototype that were presented during the inception of the Incubation Hub and the Business Leaders from the Group became mentors to the startup companies. Apart from the Group Mentors, a group of renowned Corporate Honchos with experience of working in the Startup Ecosystem were inducted into the Mentor’s Team.
TALK ABOUT YOUR CLIENTELE
Today Neotec has about 25 enrolled startups out of which about 14 of them are in the Steady Revenue stage month on month.
All Start-Ups are innovative, impactful, scalable, sustainable business ventures, driven by technology, in areas of Smart Mobility, Data Analytics, Health Tech, Edutech, Fintech, IoT and Robotics.
In 2 years Neotec has incubated Startups from multifaceted technology domains from EdTech, IoT & Analytics, Robotics, Animation, e-Commerce, Funeral Rites Care to FinTech, HealthTech, Hospitality and Smart Mobility.
Women Entrepreneurs have played a pivotal role in our Cohort and we have 10 women entrepreneurs in our cohort
who are very successful and are doing exceedingly well.
HOW DO YOU KEEP UP THE PACE WITH THE CHANGING MARKET TRENDS?
We stay tuned to the Ecosystem through our various partners – be it Investor Networks or Academic Institutions or Govt. Bodies or our Outreach partners, Corporates, other Incubators & Accelerators in India and abroad. We are fully aware on real time basis of any changes in current market trends. Time and again the Funding interest changes- depending on a successful Fund Raise by a top VC/PE fund and this sets the flavor for some weeks or months.
DO YOU BELIEVE R&D IS ESSENTIAL FOR THE GROWTH OF THE COMPANY?
The Young entrepreneurs working with us are our R&D. So unlike the normal process of working on some selected idea from time to time by a dedicated Department incurring huge resources & cost, we are able to do R&D on multiple ideas simultaneously at fraction of the cost.
HOW NECESSARY DO YOU FEEL IS IT TO KEEP YOUR EMPLOYEES CONTENT, HOW DO YOU ENSURE IT?
Employee engagement is key to our Values. We believe in creating a friendly, casual, open, fair & transparent environment, where there is mutual trust & respect and camaraderie of a common purpose. Empathy & meritocracy are key to our principles of engagement. The Startups of our Cohort have access to the Cafeteria, Gym, Swimming Pool, Music Academy, Tennis Courts, and we believe in creating an atmosphere where there is improved Quality of life and the true potential of the team is unleashed.
HOW YOUR COMPANY HAS COPED WITH THE LATEST TECHNOLOGY?
In various domains that more than 25 companies are working with us, we find the latest technologies being used to drive the business ventures – be in Big Data Analysis, IOT, Data Analytics, Genomics, and Smart City Solutions.
We regularly participate in Events of NASSCOM, T-Hub, Facebook, and Google in which new trends in technology are showcased.
We have a Representative Office in Tel-Aviv. Israel, as we know is the Centre of Technological Innovation and we are having direct access to understand the latest technology in the domains that we are interested in.
WHAT MILESTONES AND ACHIEVEMENTS DO THE COMPANY BOAST OF?
- We have been able to do an Outreach with more than 700 Start-Ups and give them advice/guidance on their business idea/strategy/ go-to-market etc. From this deal flow, our present cohort of 25 Start-Ups has emerged and they are progressing successfully in their journey. We have provided seed funding to many of these companies in order to create their runway for taking them to the next level.
- Neotec has raised external funding for 2 of its promising Startups – BookingJini (Bhubaneshwar) and Tech Siksha (Mumbai) for cumulative INR. 4 Cr+ from Angel investors.
SOME START UP SUCCESS STORIES:
- Neotec Hub has featured in the CEO Magazine as the Company of the Year, in the Incubator Category. • In the Times Innovation Challenge on 21st Nov, 40 Startups from over 1300 applications were shortlisted. Out of the short-listed, 4 of our incubatees- One Wallet Hub, Cleair, Innovus Global and BioGenick qualified for the Grand Finale along with 5 other startups.
BOOKINGJINI
- Awarded as a top 30 Start up by NASSCOM.
- Awarded as a Top 40 Start up by Indian Express.
VYOMA INNOVUS GLOBAL PVT LTD
- Nominated within Top 30 of ‘MoveHack 2018’, NITI Aayog’s global mobility hackathon in India.
- Developed the Utsav 2019 Durga Puja Parikrama App for Kolkata Police.
- Bangladesh Police implemented Smart Phone Based App on Traffic Challan and Digital Portal.
ZESUGO TECHNOLOGIES PRIVATE LIMITED
- Top 5 finalists from Kolkata at Nasscom’s Thrive 30
- Top 30 startups in eastern India by Nasscom Product Conclave 2017, Kolkata.
- Selected among top-10 Women in FinTech Startups and pitching at the F10 Demo Night at Fintegrate Zone #FZ19.
- Winner in the Final of Times Innovation Challenge, wherein 40 Startups from over 1300 applications were shortlisted.
VEDIC MATHS FORUM
- Gaurav Tekriwal was awarded The INDIAFRICA Fellowship by the Ministry of External Affairs of India in 2014.
- Awarded by Hon. Governor of West Bengal Shri K.N. Tripathi for contribution to Vedic Mathematics in 2016.
CALNESTOR KNOWLEDGE SOLUTIONS PVT. LTD.
- Appreciated as “Top 50 Startups in Eastern India” under Y4BIZ Program, by U.S. Consulate General in association with University of Texas, Global Entrepreneurship Summit.
- Recognized as “Top 5 Startups” under ICC Startup Pad 2018 Program, by Indian Chamber of Commerce.
ORDUINO LABS
- Awarded as the “Company of the year” in IoT category for the year 2017 by CIO Review magazine.
- Awarded as the top 10 VTS provider for the year 2017 by Silicon India magazine. • Awarded by NASSCOM as one of the Thrive 30 Company.
- Won 3rd prize at Odisha MSME trade fair.
- Won 3rd prize at IIA, Hyderabad.
- Selected by “T-Hub” to represent Telangana Govt. in world Geospatial Forum.
SLICK ACCOUNT
Featured on “SiliconIndia Startup City” magazine as “STARTUP OF THE YEAR 2017”.
Received “40 under 40” award from Indian Express in 2018.
KORNERSTONE ANALYTICS
Adjudged as one of the Top 5 startups in a national event called ‘Thrive 30’.
SINHA ROBOTICS
Two-times awardee, NASA & National Space Society Space Settlement Design Competition.
India Representative at RoboFest International ‘16 Budding Achiever, Bihar Leadership Festival.
RESOLZ
Selected in Top 15 in Youth-for-Business (Y4BIZ-2018) jointly organized Banglanatak.com and US consulate.
BIOGENICK
Biogenick Life selected as one of the most promising start-ups at NASSCOM 10000 Startups.
Adjudged as one of the Top 5 startups in the Final of Times Innovation Challenge, wherein 40 Startups from over 1300 applications were shortlisted.
CLEAIR
2nd runner up in the Final of Times Innovation Challenge, wherein 40 Startups from over 1300 applications were shortlisted.
SHARE WITH US YOUR COMPANY’S FUTURE PROSPECTS.
- We would like to take more DeepTech companies in our Cohort.
- We find that the greatest weakness of the Start-Ups is their lack of ability to sell. We have plans to help them overcome this.
- We will start working on our AIF – Category 2.
- We plan to take Exit from at least one of our Incubated & Funded Start-Ups at min 10x valuation.
- Agritech & Rural health tech are our future focus areas for Joint Ventures from Israel.
HOW ARE YOU GIVING BACK TO SOCIETY?
All the companies in our cohort impact society directly by their products/services. We provide the necessary amenities to the people in need.
FOR SCHOOL CHILDREN – Robotics kits, Edutech packages, developing English language as a skill.
FOR MOBILITY: Wheelchair taxis, traffic management solutions.
FOR HEALTH & WELLBEING: Healthtech platform, elderly care, biogenetics.
FOR ENVIRONMENT: Funeral services, Pollution Data Analytics, Renewable energy, vehicle on-board diagnostics.
LASTLY, IS THERE A MESSAGE YOU WOULD LIKE TO GIVE TO INNOVATIVE ZONE READERS?
The message to all Innovative Zone readers is that whatever be our definition of Success, we cannot achieve this without a complete balance of our priorities between Career, Health and Relationships (Family & Friends). If we neglect any one of these 3, it will cause us so much distress & despair that our attempt to get our Success will become futile.
We might have thus got this Success but we will then realise that Success is not Happiness. True happiness comes in not receiving but in Giving. So we need to constantly find ways in which we can add value, by which we can touch lives. For this, we need to continuously upgrade ourselves in hard & soft skills so that our sphere of value-addition always expands. The moment we stop reinventing ourselves, our capacity to contribute diminishes and we are dead.
In this journey of value-addition, we will be building relations. The real yardstick of our being complete is in the Relationships we developed, the number of lives we touched, in our lifetime. This is a credit balance worth living for.
