The 11th Edition of TiE Lumis Awards
This year we entered a whole new decade with the 11th year of the TiE Lumis Entrepreneurial Excellence Awards. These awards were conceptualised to support and encourage entrepreneurs in their journey. The #TiELumisAward’s hall of fame has some epic startups that we could recognise young in their journey, and its great to see them be such clear market leaders — Oyo Rooms, MakeMyTrip, VLCC, Knowlarity, The Beer Cafe, 1MG to name a few.
We scout for entrepreneurs who have the passion and aggression to move ahead in spite of rejections and failures. Those who are out there to solve large complex problems at scale. Entrepreneurs who possess risk-taking abilities and show the willingness to explore uncharted or big markets, coupled with the ability to scale with minimum resources. Even though it has been over a decade since commencement of these awards, each year we feel like we are starting completely fresh with some really great entrepreneurs that India has to offer.
We received an overwhelming number of about 500 entries from startups all over the country. All these entries were evaluated on various parameters such as impact, planning and execution, comparative positioning to the competitors, differentiators, value proposition etc. The list was befittingly narrowed down to the top 20, out of which five startups were given the much-coveted opportunity to pitch to a final jury comprising of an interesting blend of notable leaders from varied industries.
The Closed Door sessions are something we really cherish, as we get to spend good time with each of the finalists and really understand how their product is built to solve large complex problems. This year’s final jury had an exciting mix of leaders who had varied entrepreneurial and leadership experience. The three hour session allowed all finalists to present their strategies followed with an intimate Q&A session with the jury.
Amarjit Batra — Managing Director at Spotify India
Rajiv Nair— Managing Director at Mentor Graphics India
Sreedhar Prasad — Partner at Kalaari Capital
Nishant Rao — Board Advisor at Various Indian VCs (Accel, Sequioa,etc)
Sandeep Sinha — Co-founder & Managing Partner at Lumis
The jury picked the following winners (in no specific order) — CAYA Constructs, Goals 101 & Cyclops Medtech. All these startups are solving some unique problems at scale. It was really interesting to see these entrepreneurs so passionate about translating that impact on ground. The fire to go that extra mile was evident at the Closed Door Jury sessions.
CAYA Constructs
CAYA Constructs provides social innovation at scale. They have launched four patented products to improve access to sanitation and services that address value chain gaps in last 2 years. CAYA’s products help provide a closed door toilet experience to over 10 lakh people daily.
CAYA uses decentralised pre-cast technology to develop robust community, public, household toilets & on-site sanitation units. 80% of the toilets are built in the factory, resulting in standardised quality products. They are then shipped by road, and installed on site.
Co-founders Navneet Garg and Ashish Gupta worked together at Vestergaard. Navneet’s last position was COO — Water Business. Navneet focused on innovative solutions for providing clean drinking water, controlling malaria, diarrhoea, TB & HIV.
“Our toilets help reduce cost, are environmentally friendly, and removes the need for specialised equipment or skilled manpower at the site. Where there is no sewage network, toilets are connected to a on-site sanitation units which treat the waste before discharging it. CAYA offers services like operation and maintenance and IEC for sustained use of the sanitation facilities”, Navneet, Cofounder CAYA Constructs
Goals 101
Goals101 Data Solutions Pvt. Ltd. is a Big Data and Fin-Technology Company that is revolutionising the way Retail banks engage with their clients to make every engagement “Personalised, Automated & Delightful”.
Their proprietary “Alpha Big Data platform” helps banks across Asia, Africa & Middle East to become both contextual and real time and solve multiple ‘customer state issues’ for increasing revenue, reducing bad debt, growing NPS and ensuring delight.
Goals 101 has deep understanding of banking problems and solves these by applying our proprietary ML / AI algorithms via deep data pipes to the Bank’s Big Data covering hundreds of vectors including transaction behaviour, demographics, real time location, interest maps and many more. They combine this with true E-2-E Robotic Process Automation, new age client engagement formats and real time reporting tools.
Visham Sikand, Founder and Group Managing Director of Goals 101- is an ex-banker and HBS Alumni, this is Visham’s 3rd successful entrepreneurial venture, with his previous company Indian Health Organisation being acquired by Aetna Inc. Visham is a two time TiE Lumis awardee (Goals101 2018 & IHO 2012).
Raghu Mohapatra, Co-Founder and Group COO of Goals 101 was a Global retail banker for 16 years with Standard Chartered Bank where he managed a multitude of global roles including Digital Banking and Distribution Strategy covering 35 countries.
“We know that granular segmentation is of no use without granular offers to appeal to every cell of the taste grid. For this, we source and provide exclusive offers across Top 500 and Hyper local brands to engage the Bank’s customers as per their preferences of category, channel and content. Our platform pulls together all key levers into one single integrated virtuous cycle of real time engagement covering Big Data algorithms across multiple use cases, automated out of the box banking client journeys, brand offers and reports. We take no Personally Identifiable Information at all and PCI-DSS, ISO 27001 and SOC-2 compliant”, Raghu, Co-Founder and Group COO of Goals 101 Data Solutions Pvt. Ltd.
Cyclops Medtech
Cyclops MedTech is working extensively on clinical and wearable diagnostic rehabilitation products for neuro-vestibular disorders using eye tracking technology.
They create highly innovative and cost effective medical technology and devices which can dramatically expand the diagnosis horizon and thereby aid in faster and better cure. Cyclops is working on a suite of products across the entire balance spectrum and are also doing a lot of research on eye tracking and it’s application to diagnose various medical conditions.
Niranjan Subbarao, Cofounder, Cyclops Medtech is a serial entrepreneur who started his journey back in 2001 post his MBA. After having gained significant exposure in the medical ecosystem, Niranjan co-founded Cyclops in 2015.
“For us the USP of Cyclops Medtech is that our products are portable form factor, optimised for OPD and don’t need for dedicated physical infrastructure.
We work on building automated eye tracking algorithms with high accuracy levels. Our innovative design approach captures direct images of the pupil instead of reflected images. We aim at featuring rich and yet affordable technology”, Niranjan Subbarao, Cofounder Cyclops Medtech.
We are glad to have had the knowledge and intuition to be able to recognise the immense potential these entrepreneurs had when they were just embarking on their journey. We are fortunate enough to have had the support of our jury members, who helped us to identify these extraordinary entrepreneurs. We are also grateful for the endless support from TiE-Delhi who have helped us every step of the way in building the TiE Lumis Entrepreneurial awards in to the most respected entrepreneurial awards in the country.
Team @LumisPartners
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