Innovation and entrepreneurship presentation.pdf

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2. START UP
•The start up refers to a company in the first
stage of operation. Start ups are founded by
one or more entrepreneurs who want to
develop a product or service for which they
believe there is demand.

3. BOAT
•BoAt is a fashionable, wearable brand that primarily sells
audio-related and other electronic products. The brand’s
categories include headphones, earphones, speakers, car
accessories, smart watches, power banks and more. Well, you
must be wondering how a wearable brand relates to a boat.
The founders believe that listening to music using these
products transports the user to a different zone of peace and
calm, like a boat journey that takes you from land to water.
Hence, the brand is named BoAt, with the tagline “Plug into
Nirvana”.

4. FOUNDERS AND TEAM
•Sameer Mehta and Aman
gupta are the co founders
of boat

5. START UP STORY
•Aman Gupta’s extraordinary journey from his birth and upbringing in Delhi to
founding the immensely popular lifestyle audio brand boAt is a testament to his
tenacity and entrepreneurial spirit. Initially urged by his father to pursue a career as a
chartered accountant, Aman harbored a strong ambition to start his own business.
Before achieving success with boAt, he ventured into five other businesses, all of
which faced failure.
•By 2020, boAt’s product categories had expanded to serve over 800,000 clients, a
remarkable accomplishment considering its humble beginnings. Aman Gupta’s
perseverance and commitment to learning from the past have played a crucial role
in transforming boAt into the prosperous success story it is today.

6. BUSINESS GROWTH AND STRATEGY
•BoAt’s business model is robust. With
the following These strategies that have
led to its growth and made it one of the
most popular brands, especially among
youth
•• The target customers
•BoAt’s core values
•Sales channels
•• BoAt’s cost and revenue

7. CHALLENGES FACED
•In its early stages, boAt faced formidable challenges, especially in convincing
Chinese contract manufacturers to produce in small quantities. A crucial juncture
arose as the dedicated boAt team, immersed in product and packaging design,
implored manufacturers with a commitment for larger orders in the future: “Please
support us now, we will order more later.”
•The logistical intricacies unfolded as products were shipped to the Indian company,
maintaining minimal inventory, and Amazon took charge of distribution. Prior to
the official launch of its brand in 2016, boAt served as a distributor for the
international audio brand House of Marley from 2014 to 2016. boAt’s early
narrative was defined by bootstrap funding, approximately Rs 30 lakh from the
founders, and the resilience to surmount financial challenges.

8. GROWTH
•boAt has experienced phenomenal growth by strategically
placing its products in leading retail outlets, including
Croma, Myntra, Amazon, Paytm, and Flipkart. The
remarkable growth of the brand is evidence of the
reliable, high-caliber performance of boAt products,
drawing in a large consumer base. boAt has gathered
800,000+ customers within a short span of 4 years as of
July 2022.
•It claims to add one boAthead to its family within every 3
minutes that pass, as per reporting of July 2022. The
company sells four units every minute and over 6,000
units each day as of May 2022. It is the 5
th
largest
wearables brand globally, as per news report of December,
2020.

9. FUTURE PLANS
•One of the main reasons for boAt’s success is that they are
aware of the trend of customers buying earbuds together with
new smartphones. This is in line with a larger trend in the
business, where big phone manufacturers collaborate
strategically with audio providers to offer bundled prices that
deter independent purchases. Co-founder of boAt Aman Gupta
claims that changing market dynamics are reflected in this
bundling technique. boAt has a strategic positioning that
focuses on providing fashionable yet reasonably priced products
for Indian consumers in order to address the growing demand
for technology gadgets. While considering a public listing in
India, there are no immediate IPO plans in the next couple of
years after deferring its IPO plans

10. CONCLUSION
•boAt has made a huge name for itself in the last 4 years. It’s reputation and
popularity was bolstered after the appearance of one of its co-founders,
Aman Gupta, on Shark Tank India season 1. On the marketing, pricing and
styling front, the company has left no stone unturned in outsmarting the
existing competition. The impact has been such that renowned brands like
JBL had to cut down on its prices in order to stay relevant in the industry.
The future of the company looks quite promising, courtesy of a dedicated
R&D team, millions in funding and the zeal to stay appealing to the youth.
Notably, Aman Gupta’s present net worth is INR 10,500 crore.

11. THANK
YOU