The startup decade has begun and has already revolutionized how we live and learn. India is the third-largest startup ecosystem, and when it comes to education, edtech is here to stay. With enablers like Google Clouds, web-based portals, and user experience driving the world, classrooms are no more limited to four walls, with the world itself becoming a classroom where you can learn anywhere anytime. Delivering education through technology is the new normal.
On the other hand, Logistics is seeing a revolution with players like Shiprocket gaining dominance. A special series, ‘Building It Up with Bertelsmann’, saw the presence of Ashwin Damera – co-founder of Eruditus, Sahil Goel – co-founder and CEO of Shiprocket and Pankaj Makker – MD Bertelsmann India sharing deep insights on challenges and scaling in the startup ecosystem.
A decade ago, what started as an offline venture offering executive education courses is now India’s fourth-largest edtech unicorn offering education across the globe. When asked about how Eruditus evolved, Ashwin shared his vision to make high-quality education accessible and affordable by partnering with elite institutions, some of them being IITs and IIMs. Enrolling students from 80+ countries and delivering education through virtual online programs, the outcome is comparable to classroom learning programs.
Talking about the challenges in building and scaling this enterprise, Ashwin emphasized the difference in markets like India, China, and Latin America. Therefore, the approach for each market should be different. Even India has many different markets, and consequently, it sharpened its capabilities. Secondly, it’s about people, where one needs to find local leadership, and finding the right leadership is half the problem solved.
Venture Capital plays an important role in a successful startup journey. Shedding light on the importance of having a VC with a global presence, Ashwin added that Bertelsmann had backed many compelling companies in the edtech space. Therefore, they were the right partners for them, and in fact, many of the decisions to enter some of the global markets were based on the research provided by Bertelsmann. This signifies the importance of knowledge and experience that VCs with a global presence hold.
Pankaj Makker – MD, Bertelsmann India, was asked about the defining characteristics of Eruditus that made it scale up so well globally. He emphasized that entrepreneurs are most important when it comes to building business. He added that they find some extremely passionate entrepreneurs who want to build an extremely large business that can define their categories. Having that passion and DNA is the first step.
Secondly, it’s the business model – whether it makes sense to have that business model, and in India, whether that business model can transcend different boundaries and become a large global business?
We are witnessing a surge in Direct-to-Customer or D2C brands globally in the logistics space. When asked how Shiprocket’s asset-like business model (being a tech-enabled platform) plays a differentiating role, Sahil focused on the ecosystem around that has evolved, whether its demand generation ecosystem, the cataloging/website creation, or whether shipping or fulfillment ecosystem. This has evolved the D2C markets. Tech is playing a major role in such industries, with Google Clouds gaining prominence.
E-commerce merchant audience previously struggled with managing logistics because the infrastructure side of the supply chain got set up to serve the larger guys like Amazon, Flipkart, etc. Anybody doing a lower number of transactions was at a loss. Shiprocket is trying to simplify the process by connecting hundreds and thousands of retailers with India’s leading networks to help merchants use all types of carrier services to enhance the consumer experience. The only way to do it is not to become actual infrastructure but to become software infrastructure.
One may wonder about the growth opportunities for D2C companies, especially in the logistics and fulfillment space? Pankaj is confident of the fact that D2C is here to stay. In India, it will reach $100 billion GMV, out of which 30-40 will come from D2C. All of their merchants would need many support services like logistics, marketing, website creation, etc., and companies like Shiprocket are only getting started to build that.
With such deep insights into two of the budding and revolutionizing startups, it is eminent that startups are leaving no stones unturned in dominating their segments and becoming global players. With the determination and passion that entrepreneurs possess and the vision they share, the sky’s the limit. Using the right tools becomes equally essential, and one cannot neglect the supremacy of the technological benefits that Google Clouds, AI/UI, etc., deliver.
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