The Passionate Entrepreneurs of the Year 2025.pdf

INDIA
SULAKSHAN
Parameswaran
Turning Exceptional Taste into an Everyday Experience
From Idea to Execution
A Step-by-Step Guide to
Starng Your Own Business
From Local to Global
Scaling Your Start-Up
The Power of Adaptability
How Entrepreneurs Can Thrive
in a Changing Market
Sulakshan Parameswaran
Director,
Superb Formulations
Private Limited
The
PASSIONATE
of
the Year
2025

www.businessmindsmedia.in
Don’t watch the
clock, do what it
does. Keep going.

Editor's
Perspective
very day, fresh ideas sprout like
E
seeds, each one ﬁlled with
promise and potential. Most of
these ideas wither before they even have
the chance to take root, lost in the shuﬄe
of daily life, overshadowed by the next
big thought. But occasionally, an idea
deﬁes the odds, pushing its way through
the noise and capturing the attention of
those who matter. What sets these ideas
apart? It's not just about timing or
luck—it's about the persistence to push
through challenges, the courage to
innovate, and the unwavering belief in a
vision that can change the status quo.
These are the ideas that build legacies.
In this special edition of The Passionate
Entrepreneurs of the Year 2025, we celebrate
those who have turned their dreams into
action, carving out paths where others saw
only barriers. This edition is a tribute to the
grit, creativity, and boldness of entrepreneurs
who are reshaping industries, challenging
norms, and paving the way for future
generations. We've curated the stories of
some of the most remarkable innovators,
whose journeys remind us that passion is the
fuel that drives great change.
Looking ahead, the future of
entrepreneurship is not about predicting what
comes next—it's about the power of
possibility. The next great idea is already out
there, waiting for someone with the courage
to take a chance on it. Entrepreneurs will
continue to be the heartbeat of innovation,
driven by curiosity, purpose, and a relentless
desire to make the world a better place. The
journey of entrepreneurship may not always
be easy, but it's a journey worth taking, for it
is in the pursuit of something bigger than
ourselves that we ﬁnd true fulﬁllment.
Abhishek Roy
- Managing Editor
INDIA
MANAGING EDITOR
Abhishek Roy
ART & DESIGN HEAD
Rohit Sutar
BUSINESS DEVELOPMENT MANAGER
Raviraj Khankhure
EXECUTIVES
Nisha Salunke
MARKETING MANAGER
Nikita Khaladkar
TECHNICAL HEAD
Sam Fernandez
DIGITAL MARKETING MANAGER
Amit Singh
CIRCULATION MANAGER
Rohan Agrawal
ACCOUNTANT
Melina D’souza
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CREDITS
A Tribute to the
Grit, Creativity, and
Boldness
BM
I N D I A

Parameswaran
Turning Exceptional Taste into
an Everyday Experience
06
TABLE OF CONTENT
Kunal Sharma
Creating Spaces that Elevate
Human Experiences
Shivam Khanna
Writing a New Chapter in Indian Design
Swapan Rajdev
Designing Conversations That Matter
From Idea to Execution
A Step-by-Step Guide to Starting
Your Own Business
From Local to Global
Scaling Your Start-Up
The Power of Adaptability
How Entrepreneurs Can Thrive
in a Changing Market
24
34
44
20
30
40
Profiles
Articles
Cover Story

Parameswaran
Turning Exceptional Taste into
an Everyday Experience
Sulakshan Parameswaran
Director,
Superb Formulations Private Limited
S
t
o
r
y
C
o
v
e
r
I wanted to create something
that made great ﬂavors truly
accessible—whether you are a
home baker or running a food
startup. That's how Ossoro was
born.
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remium ﬂavors have always
P
held a certain mystique,
complex, concentrated, crafted
to perfection. They're the invisible
ingredients behind unforgettable bites
and sips, the silent collaborators in the
success of celebrated dishes. Yet for all
their power, they've often felt out of
reach. Reserved for the hands of large-
scale manufacturers or behind the
guarded walls of industrial suppliers,
these intricate notes rarely made their
way to the hands of home bakers, indie
café owners, or culinary creators
working outside the spotlight.
Try ﬁnding a bold pistachio essence
that doesn't taste synthetic. Or a pure
vanilla that doesn't cost a small
What inspired Sulakshan
Parameswaran to venture into the
world of ﬂavors, extracts, and essential
oils was deeply rooted in his
upbringing. Having grown up in a
family that ran a modest, home-
adjacent business in the early 2000s, he
was constantly surrounded by the scent
of spices and aroma chemicals that
were used to create simple yet
powerful essences. Although he may
not have realized it at the time, these
early experiences played a signiﬁcant
role in shaping his deep understanding
of sensory craftsmanship.
In 2007, the family business
transitioned from a small setup to a
fully operational factory. Witnessing
fortune. For the longest time, the
market told small-scale creators: settle.
Settle for diluted. Settle for generic.
Settle for what's available, not what's
ideal.
That's where Sulakshan
Parameswaran decided to step
in—not with a loud disruption, but
with a quiet, precise revolution.
Drawing from a childhood immersed
in the scent of spice-laden oils and a
family-run ﬂavor business, he didn't
just build Ossoro Flavours and
Superb Formulations. He redesigned
access.
From Spice-Laced Childhoods to
Flavor-Filled Futures
The Passionate Entrepreneur of the Year 2025
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this transformation ﬁrsthand,
Sulakshan saw the vast potential of
what they had built over the years.
After completing his MBA and
spending over ﬁve years in the
corporate sector, he stood at a pivotal
juncture in his career. While the
corporate world oﬀered him valuable
exposure and experience, he felt a
strong pull toward the world he had
grown up in. Choosing to follow his
passion, he decided to join the world of
ﬂavors, embarking on a journey that
was not just professional but deeply
personal. For Sulakshan, this path has
been one of rediscovery—of family
heritage, of passion, and of the
profound connection between nature
and human senses.
The journey of founding Ossoro
Flavours began with Sulakshan
identifying a clear and growing need in
the Indian market. He observed a rising
wave of homebakers and small-scale
food entrepreneurs who were eager to
experiment with unique ﬂavors but
lacked access to high-quality products.
This gap inspired him to reimagine
how ﬂavor solutions could be made
available and accessible.
With a vision to change the game,
Sulakshan and his team launched
Ossoro with a focus on retail-friendly
30ml packs that maintained the same
high concentration and quality as their
commercial-grade oﬀerings. To further
enhance usability, they introduced
bottles with inbuilt droppers—ensuring
accurate dosing and ease of use,
particularly for home kitchens.
From the outset, Sulakshan's goal was
both simple and ambitious: to make
premium ﬂavors available to everyone.
Today, Ossoro oﬀers an expansive
range of ﬂavors—from timeless
classics to bold, exotic
varieties—available across both online
ﬂavors that are celebrated for their
authenticity, purity, and consistency.
The brand operates with a clear
philosophy: great ﬂavors begin with
great ingredients.
Superb Formulations also stands out
for its steadfast commitment to
integrity. Sulakshan is clear that the
company does not cut corners. Each
product is built to deliver both
performance and value, oﬀering
premium-grade formulations without
the hefty price tag—an approach that
resonates with both emerging brands
and seasoned manufacturers.
Agility is another deﬁning trait. The
company ensures fast lead times for
dispatch and delivery, making it a
reliable partner for businesses working
with tight production schedules. Their
R&D capabilities are equally
responsive. Whether a client requires a
brand-new ﬂavor or a tweak to an
existing one, the team at Superb
Formulations is known for its swift and
collaborative development process.
platforms and oﬄine retail channels.
The brand has established a strong
presence on major e-commerce
marketplaces and continues to expand
into brick-and-mortar retail stores.
Whether it's a 10ml bottle for a home
baker or a 20-litre drum for large-scale
production, Ossoro caters to all needs.
One of the aspects Sulakshan is
particularly proud of is the brand's
commitment to customization. He
understands that innovation in the food
and beverage industry often requires
tailor-made solutions, and Ossoro has
made it a priority to accommodate
bespoke requests—even in small
batches. This ﬂexibility and customer-
centric mindset have been key factors
in Ossoro's growth from a niche
concept to a trusted name embraced by
homebakers, chefs, and industrial
manufacturers alike.
For Sulakshan, the journey so far has
been exciting and fulﬁlling—but as he
sees it, this is just the beginning.
Where Every Drop Tells a Story of
Integrity
When asked what sets Superb
Formulations apart in the competitive
ﬂavor manufacturing industry,
Sulakshan emphasizes the company's
unwavering dedication to purity,
accessibility, and
craftsmanship—values that have
remained central to its identity as an
MSME. While many players in the
industry focus on scale and mass
production, Sulakshan has steered
Superb Formulations to prioritize
quality at every step.
A key diﬀerentiator, according to
Sulakshan, is their strict sourcing
policy. Only high-quality, traceable
raw materials make the cut, resulting in
Sulakshan is especially proud of the
company's approach to inclusivity. By
eliminating minimum order quantities
for ﬁrst-time buyers, Superb
Formulations has empowered countless
homegrown brands, startups, and small
At the core of Superb Formulations lies
the Japanese philosophy of
Kodawari—a relentless pursuit of
perfection. Sulakshan explains that this
mindset informs every formulation the
company produces. The goal is always
to get as close as possible to the natural
source, both in aroma and in
functionality. It's this meticulous
attention to detail, combined with an
enduring passion for excellence, that
has helped Superb Formulations carve
out its distinct space in a highly
competitive market.
distributors to grow without the
pressure of large initial investments.
This open-door policy has helped
democratize access to high-quality
ﬂavor solutions.
For me, ﬂavor is a form of
integrity. It has to be honest,
consistent, and built from
good ingredients. That's the
core of what we do.
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The Alchemy of Intuition and
Innovation
When reﬂecting on how he balances
the artistry and scientiﬁc precision
involved in creating unique ﬂavors,
Sulakshan compares the process to that
of a chef crafting a signature dish. For
him, ﬂavor development is a
harmonious blend of creativity,
balance, and technical expertise. While
the science—particularly organic
chemistry—provides the structural
foundation, Sulakshan emphasizes that
equal importance must be given to the
organoleptic elements: the aroma,
mouthfeel, and the emotional
resonance a ﬂavor can evoke. It's about
creating an essence that feels complete
and meaningful.
Interestingly, Sulakshan does not come
from a traditional science background.
His entry into ﬂavor formulation was
guided more by curiosity and intuition
than academic training. This outsider
perspective, he believes, became one
of his greatest strengths. It allowed him
to see ﬂavor development not just as a
technical process, but as a form of
sensory storytelling—an opportunity to
create something that could stir
feelings or memories, not just satisfy a
formula.
Over the years, Sulakshan has
cultivated a deep respect for the
scientiﬁc aspects of ﬂavor creation, but
he continues to champion the creative
and intuitive dimensions. For him,
innovation happens when both realms
work together—when molecular
precision meets artistic intention.
However, he is quick to point out that
science and creativity are just two parts
of the equation. Commercial viability
plays a critical role as well. Sulakshan
and his team work closely with
customers to understand how each
ﬂavor will be used—the application,
the dosage, heat stability, shelf life, and
ultimately, the value it oﬀers to the end
user. These practical considerations are
carefully integrated into every
formulation to ensure the ﬁnal product
is not only distinctive and technically
sound, but also eﬀective and
economical in real-world conditions.
It's this thoughtful blend of curiosity,
scientiﬁc understanding, creativity, and
close customer collaboration that
Sulakshan believes enables Superb
Formulations to develop ﬂavors that
truly stand out in a crowded market.
Mastering Complexity Across Taste
Territories
According to Sulakshan, developing
ﬂavors across diverse industries—such
as bakery, beverages, and
pharmaceuticals—presents a unique set
of challenges that requires a nuanced
and highly adaptable approach. While
the foundational principles of ﬂavor
products designed for either human or
veterinary use. Each use case comes
with its own technical demands,
including solubility, dosage form
compatibility, and regulatory
compliance. The team approaches each
formulation with precision, ensuring
that the ﬂavor solution not only tastes
good but also serves a speciﬁc
functional and technical purpose.
Across all industries, Sulakshan
emphasizes the importance of listening
carefully to the client's needs and
asking the right questions. For him, the
goal goes beyond crafting a great-
tasting ﬂavor—it's about ensuring that
each formulation performs reliably
within the customer's speciﬁc
environment and adds value from both
a sensory and functional standpoint.
The Craft Behind Every Drop of
Flavor
Sulakshan describes ﬂavor
manufacturing as a meticulous blend of
art and science, with several critical
parameters shaping the creation of
high-quality, consistent products. At
the heart of the process lies raw
material selection—a factor he
considers absolutely fundamental.
According to Sulakshan, the aroma
ingredients used in a formulation
directly impact the ﬁnal outcome, as
each raw material brings its own
distinctive characteristics to the ﬂavor.
This is why his team places a strong
emphasis on sourcing innovative and
high-performance ingredients,
continuously researching and testing
new options to elevate existing
proﬁles.
To maintain consistency, rigorous
quality control checks are conducted
on all incoming materials. These
checks assess purity, potency, and
overall consistency, ensuring that every
batch meets the company's high
creation remain consistent, the
variables within each segment demand
customization and a deep
understanding of application-speciﬁc
requirements.
In the bakery industry, Sulakshan
explains that one of the biggest
challenges lies in the quality and nature
of the raw materials used by clients. A
ﬂavor might behave very diﬀerently
depending on whether a recipe uses
real butter or cost-eﬀective alternatives
like margarine or vegetable oil. Butter
tends to enhance and elevate ﬂavor
proﬁles, whereas substitutes often mute
them. Recognizing that many
commercial bakeries prioritize
aﬀordability, Sulakshan and his team at
Superb Formulations design ﬂavors
that maintain consistency and appeal
regardless of ingredient
quality—ensuring that every end
product delivers a desirable and
reliable taste experience.
When it comes to beverages,
Sulakshan highlights stability and
compatibility as critical hurdles.
Factors such as pH level, TDS (total
dissolved solids), the speciﬁc types of
acids used for proﬁle enhancement,
and sugar content all inﬂuence how a
ﬂavor behaves and integrates. A
formulation that works perfectly in one
setup might fail in another if these
conditions change. To overcome this,
his team invests signiﬁcant time in
understanding the beverage matrix in
detail before recommending or
tailoring a ﬂavor solution, ensuring that
performance is both stable and
satisfying.
The pharmaceutical sector, Sulakshan
notes, adds another layer of
complexity. Here, ﬂavors often serve a
dual purpose: to improve palatability
or to mask unpleasant tastes and odors.
The applications vary widely—ranging
from liquid syrups and powders to
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internal standards. Any deviation in
quality, Sulakshan notes, could
compromise the integrity of the ﬁnal
product.
Once the raw materials are approved,
the next phase—processing—begins.
Sulakshan compares this step to
operating a highly specialized kitchen,
where precision is key. Developing a
ﬂavor involves understanding the
behavior of various aroma chemicals
and skillfully combining them in
speciﬁc ratios to craft a desired sensory
experience. These aroma ingredients
are blended with food-grade solvents
to form the ﬂavoring essence. Much
like following a recipe, the formulation
safety system. It wasn't just a change in
structure—it was a transformation in
philosophy. From that point onward,
the company prioritized developing
policies and infrastructure that could
meet, and even exceed, both national
and international quality and regulatory
standards.
Recognizing that global trust hinges on
rigorous systems, Sulakshan led the
overhaul of their processes, facilities,
and protocols. One of the most
signiﬁcant milestones in this journey
was achieving compliance with FSSC
22000—one of the world's most
respected food safety management
system standards. This certiﬁcation
aligned Superb Formulations with
globally recognized best practices in
food manufacturing.
Their commitment, however, did not
stop there. The company has since
secured multiple certiﬁcations that
reinforce its standing in both export
and domestic markets. These include
FDA compliance for international
exports, ISO 22000, GMP (Good
Manufacturing Practices), GHP (Good
Hygienic Practices), HACCP (Hazard
Analysis and Critical Control Points),
and Halal certiﬁcation. For the Indian
market, Superb Formulations remains
fully compliant with FSSAI
regulations, ensuring all products meet
legal and safety requirements locally.
Sulakshan also emphasizes the
importance of accountability. The
company's facilities undergo routine
audits by independent third-party
agencies—an essential component of
their quality assurance program. These
audits not only validate internal
practices but also serve as a continuous
improvement mechanism, ensuring
food safety and hygiene standards are
never compromised.
process demands accuracy and an
intuitive understanding of how
ingredients interact.
The processing techniques vary
depending on the form and application
of the ﬁnal product. For instance,
creating powder-based ﬂavors involves
a diﬀerent method compared to
emulsions, yet the underlying goal
remains the same: to produce stable,
eﬀective, and high-quality ﬂavor
solutions.
For Sulakshan, each step in the
process—from sourcing to formulation
to quality control—is essential in
crafting ﬂavors that are not only
technically sound but also rich in
sensory appeal. It is this careful
interplay of scientiﬁc discipline and
creative intuition that deﬁnes the
success of every product that leaves the
Superb Formulations lab.
Raising the Bar for Global Flavor
Safety
Sulakshan explains that a pivotal shift
occurred in 2015 when Superb
Formulations transitioned from a
proprietorship to a private limited
company. This restructuring marked a
renewed and intensiﬁed focus on
building a robust, sustainable food
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Through this multi-layered approach to
compliance—covering everything from
certiﬁcations to ongoing
audits—Sulakshan has positioned
Superb Formulations as a company
that delivers not only on ﬂavor but also
on safety, trust, and global consistency.
Crafting Flavors with Soul and
Science
Innovation is at the heart of everything
Ossoro does, and with over 300 ﬂavors
in its growing portfolio, the company's
mission has always been to push the
boundaries of ﬂavor formulation.
According to Sulakshan, their
approach is inspired by two Japanese
philosophies: Kodawari and Kaizen.
Kodawari reﬂects their dedication to
craftsmanship and the pursuit of
perfection—striving to replicate
nature's aroma and taste as
authentically as possible. Kaizen
embodies their commitment to
continuous improvement, encouraging
the team to keep evolving and never
settle for mediocrity.
This philosophy is brought to life
through heavy investment in research,
global food trend analysis, and
ingredient innovation. The R&D team
at Ossoro delves deep into the worlds
of organic chemistry, aroma
compounds, and advanced extraction
and distillation methods. This allows
them to isolate newer and rarer
ingredients, lending a distinctive edge
to each ﬂavor developed.
What truly distinguishes Ossoro is its
customer-centric approach. While
many larger companies impose high
minimum order quantities (MOQs) for
bespoke ﬂavors, Ossoro makes its
extensive ﬂavor library—including
customized options—accessible even
in small volumes. This ﬂexibility
enables them to support everyone from
that its formulations are application-
friendly, stable, and oﬀered in
convenient pack sizes.
Sulakshan emphasizes that Ossoro's
ability to respond swiftly and
thoughtfully to changing
preferences—without compromising
on quality or creativity—is what helps
the brand remain relevant and trusted
in a dynamic industry.
The Flavor of Fulﬁllment
Reﬂecting on his journey, Sulakshan
shares that one of the most rewarding
moments has been watching the
Ossoro brand evolve from a simple
idea into a respected name across India
and international markets. Building
something from the ground up and
earning the trust of a diverse customer
base—from passionate home bakers to
innovative food and beverage
companies—has been an incredibly
fulﬁlling experience.
What stands out most to him is the
validation that comes from repeat
customers and long-term partnerships.
It's this trust that fuels the team's daily
motivation and reinforces their core
commitment: food safety and quality
are non-negotiable, regardless of the
scale or complexity of the product.
For Sulakshan, the ultimate reward lies
in knowing that Ossoro's ﬂavors have
played a part in someone else's
success. Whether it's a baker perfecting
their signature cake or a startup
launching a standout product with
Ossoro's ﬂavor at its core—those
moments, he says, are what make the
entire journey worthwhile.
Unlocking the Secret to Flavor
For aspiring entrepreneurs looking to
enter the ﬂavor and fragrance industry,
the most valuable advice from Ossoro's
home bakers and boutique brands to
large-scale manufacturers with equal
attention and creativity.
Each new ﬂavor is developed with
precision, balancing science and
artistry. Ossoro considers performance,
dosage, stability, and sensory impact to
ensure every creation is not only
ﬂavorful but also functional and
reliable across applications.
Sensing the Shift
Sulakshan observes that consumer
behavior in the ﬂavor industry is
shifting rapidly, driven by a heightened
awareness of food ingredients and their
origins. Today's consumers—especially
startups and niche brands—are more
discerning, often seeking bold, natural,
and clean-label ﬂavor proﬁles that
align with their brand values.
There has been a rise in demand from
innovative product segments such as
kombucha, functional beverages,
protein snacks, cloud kitchens, and
nutraceuticals. These businesses
require high-impact, often all-natural
ﬂavors that are tailored to their brand
identities and health-conscious
consumers.
Ossoro has made it a priority to stay
closely in tune with these trends. The
team collaborates closely with
emerging businesses to develop
customized ﬂavor solutions—ranging
from premium natural extracts and
fusion notes to unique ﬂavor
combinations that are rarely found in
the market.
Homegrown trends also play a major
role. The popularity of the home-
baking movement has driven demand
for ﬂavors like Biscoﬀ, Pina Colada,
and Indian fusions such as Rasmalai
and Gulab Jamun. Ossoro not only
embraces these trends but also ensures
journey is to remain deeply curious and
committed to continuous learning. The
industry is nuanced, blending science
with art to craft experiences that
engage both the senses and emotions.
It's crucial to grasp not only the
chemistry behind aromas but also how
they can evoke speciﬁc feelings or
enhance experiences.
Aspiring entrepreneurs should invest
time in understanding raw materials,
formulation techniques, food safety
standards, and regulatory
frameworks—these foundational
elements are key to building long-term
credibility. The pace of change in the
market demands adaptability, as
consumer trends evolve rapidly, and
nimbleness is essential.
While the scale of the industry may
seem daunting, opportunities for
innovation abound. By focusing on
craftsmanship and serving underserved
segments—such as small businesses
and niche product creators who
prioritize personalization over mass
production—entrepreneurs can carve
out their own space. Above all,
maintaining quality and integrity is
paramount; it's the consistency and
attention to detail that set standout
entrepreneurs apart.
Ossoro's Ambitious Path Forward
Ossoro's vision for the future is to
grow into a globally recognized name
synonymous with quality, innovation,
and accessibility in the ﬂavor and
fragrance sector. With a strong focus
on expanding their global footprint
through strategic exports and
partnerships, Ossoro plans to further
solidify its presence in the Indian
market while leading the movement
toward clean-label, natural ﬂavors.
Research and development will remain
a core investment as the company
explores new frontiers in natural
extractions, sustainable sourcing, and
clean-label ingredients. These
advancements will ensure that Ossoro
not only meets performance standards
but also contributes to a more
environmentally and ethically
responsible industry.
Ossoro's commitment to democratizing
access to premium ﬂavors is key to
their vision. They aim to provide small
businesses, home bakers, and niche
creators the same high-quality products
and customization options that larger
manufacturers enjoy. Speed, ﬂexibility,
and personalized service will continue
to be cornerstones of their approach,
allowing them to inspire creativity and
elevate experiences for customers
across the globe.
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I N D I A
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IF YOU WANT TO FLY,
GIVE UP EVERYTHING THAT
WEIGHS YOU DOWN.
- Buddha
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S
tarting your own business can be
both an exciting and daunting
experience. While many are
motivated by the prospect of
independence and ﬁnancial success,
transforming a business idea into a
thriving enterprise requires careful
planning, strategic execution, and
continuous eﬀort. In this guide, we will
walk through the essential steps from
concept to launch, equipping you with
the tools you need to turn your
entrepreneurial dreams into reality.
1. Start with a Clear Idea
The ﬁrst step in launching a business is
identifying the idea itself. The most
2. Market Research: Validate Your
Idea
Market research is an essential step to
ensure that your business idea has
potential. Conduct surveys, focus
groups, and interviews to understand
your target market's needs, preferences,
and behaviors. This will help you
conﬁrm whether your idea is viable
and if people are willing to pay for the
product or service you are oﬀering.
Additionally, research your
competition. Who are your direct
competitors, and what are their
strengths and weaknesses? This
successful businesses often stem from
solving a problem or fulﬁlling a need.
Ask yourself: What gap in the market
exists? What can you oﬀer that others
cannot? You might have a passion or a
hobby that can be turned into a
business, or you may have noticed a
speciﬁc demand or pain point that
hasn't been addressed yet.
Once you have your idea, take time to
reﬁne it. Deﬁne what makes your
business unique, why it will succeed,
and how it will stand out from the
competition. This clarity will serve as
the foundation for everything that
follows.
analysis will help you identify
opportunities for diﬀerentiation and
reﬁne your business model.
3. Create a Business Plan
A business plan is a roadmap for your
venture. It outlines your goals, target
market, value proposition, sales and
marketing strategies, funding
requirements, and ﬁnancial projections.
A well-constructed business plan not
only helps you clarify your business
vision but also serves as a crucial tool
for attracting investors or securing
ﬁnancing.
Key sections of a business plan
include:
•Executive Summary: A brief
overview of the business, its
mission, and goals.
•Business Description: An in-
depth explanation of your business
idea and the market need.
•Market Research: Insights into
your target audience and
competitive landscape.
•Sales and Marketing Strategy:
How you plan to acquire and
retain customers.
•Financial Plan: Your revenue
model, projected income,
expenses, and proﬁt.
A Step-by-Step
Guide to
Starting Your Own
Business
From Idea to Execution
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A clear business plan demonstrates
your commitment and readiness to take
on the challenges of entrepreneurship.
4. Choose a Business Structure
Choosing the right business structure is
crucial as it impacts taxes, liability, and
the management of your business.
Common structures include:
•Sole Proprietorship: A simple
structure where one individual
owns and operates the business.
•Partnership: A business owned
by two or more individuals who
share responsibilities and proﬁts.
•Limited Liability Company
(LLC): A hybrid structure that
provides liability protection while
allowing for ﬂexibility in
management.
•Corporation: A more complex
structure that separates ownership
and management, oﬀering liability
protection but with more
regulatory requirements.
Each structure has its pros and cons, so
it's essential to consult with legal and
ﬁnancial professionals to select the
right one for your needs.
ﬁnancing options—whether it's
personal savings, loans, or investments
from friends and family, or venture
capital. Prepare ﬁnancial projections to
gauge the feasibility of your business
and plan for long-term growth.
7. Build Your Brand Identity
Your brand is the personality of your
business. It's how customers perceive
you, and it plays a critical role in how
they connect with your products or
services. Start by developing a logo,
choosing your brand colors, and
creating a consistent message across
your marketing materials.
Your brand identity should reﬂect your
business values and resonate with your
target audience. Remember that your
brand is more than just a logo—it's the
emotional connection people have with
your business, from the customer
service experience to the product
quality.
8. Launch Your Marketing Strategy
Now that your business is oﬃcially
registered and your ﬁnances are in
5. Register Your Business
Once you have chosen a structure, it's
time to register your business with the
appropriate government authorities.
This typically involves:
• Choosing and registering a
business name.
• Applying for any necessary
permits or licenses.
• Filing for an Employer
Identiﬁcation Number (EIN) for
tax purposes.
Registering your business ensures you
are operating legally and is a crucial
step in gaining the trust of customers,
suppliers, and partners.
6. Set Up Your Finances
Proper ﬁnancial management is a
cornerstone of any successful business.
Set up a business bank account to keep
personal and business ﬁnances
separate. Additionally, establish a
reliable accounting system to track
income, expenses, taxes, and proﬁts.
Determine your startup costs, including
product development, marketing,
equipment, and staﬃng. Consider your
10. Monitor, Adapt, and Grow
Starting a business doesn't end with the
launch—it's just the beginning. As your
business progresses, constantly
monitor your performance, track
customer feedback, and make
adjustments where necessary. Be open
to pivoting if certain strategies aren't
working, and continually adapt your
approach to market demands.
To grow your business, look for
opportunities to scale. This may
involve expanding your product
oﬀerings, entering new markets, or
improving operational eﬃciency.
Conclusion
Turning your idea into a successful
business is a rewarding journey that
requires determination, resilience, and
careful planning. By following these
steps—from validating your idea
through research to launching your
marketing eﬀorts and beyond—you
can increase your chances of building a
sustainable, proﬁtable business. Every
challenge along the way will teach you
valuable lessons, and every success
will bring you one step closer to
achieving your entrepreneurial vision.
place, it's time to put your marketing
plan into action. Whether through
social media, email marketing, search
engine optimization (SEO), or
traditional advertising, creating a
strong presence for your business is
crucial for attracting customers.
Start by identifying where your target
audience spends time and tailor your
marketing strategies accordingly. You
should also consider content
creation—blogging, videos, and
infographics can help you engage with
potential customers and build
credibility.
9. Launch Your Business
After months of planning, it's time to
launch your business! Organize a
launch event, whether physical or
virtual, to introduce your products or
services to the public. This event
should create buzz and draw attention
to your business. You can oﬀer special
promotions, discounts, or giveaways to
generate excitement and encourage
people to try your oﬀerings.
Remember, the ﬁrst few weeks or
months may be slow, but persistence
and ongoing customer engagement will
help you build momentum. Keep
reﬁning your product based on
customer feedback, stay active in
marketing eﬀorts, and don't be afraid to
iterate on your business model as you
grow.
BM
I N D I A
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space isn't just where we live
A
or work; it's where we grow,
create, and experience life.
The ideal interior design goes beyond
aesthetic appeal—it shapes how we
feel, how we think, and how we
engage with the world around us. It's
the perfect blend of functionality and
beauty, where every corner, every
material, and every light choice
contributes to a sense of belonging,
comfort, and possibility. This
transformation is not just about
decoration; it's about creating
environments that elevate human
experiences, spark creativity, and
improve well-being.
The magic happens when technology
enters the equation. The role of design
today is no longer conﬁned to a simple
vision on paper. It gives clients the
freedom to experience spaces in ways
that were once unimaginable, making
decisions with greater conﬁdence,
seeing results faster, and ensuring that
their ﬁnal space is nothing short of
perfect.
At the forefront of this transformation
stands Kunal Sharma, a visionary
whose ability to combine the artistry of
design with the power of technology
As the Co-founder and Director of
Mexus Education, Kunal quickly
proved his mettle as an entrepreneur.
Starting the venture right after college,
he was instrumental in turning Mexus
Education into one of India's largest
educational enterprises. With a
footprint across around twenty
thousand schools, Mexus reached over
a million students. This achievement
exempliﬁed Kunal's ability to create
scalable, impactful businesses that
could make a diﬀerence on a national
scale. His leadership at Mexus not only
showcased his business acumen but
also highlighted his capacity to lead in
sectors that drive societal
transformation.
has redeﬁned what's possible in the
interior design industry.
Kunal Sharma, the Founder and CEO
of Flipspaces, is a remarkable
entrepreneur whose passion for
technology and business has allowed
him to redeﬁne industries and set new
benchmarks for success. He is a leader
who blends creativity, strategic
thinking, and a deep understanding of
technology to shape and lead
businesses that impact both the
commercial and retail spaces. His
journey as a serial entrepreneur and his
focus on innovative solutions have
made him a signiﬁcant ﬁgure in the
tech and design industries.
Entrepreneurial Spirit at the
Forefront
Kunal's professional journey began
with a solid educational foundation. He
graduated from the prestigious IIT
Bombay, one of India's top institutions,
where he honed his problem-solving
skills and technical knowledge.
However, rather than pursuing a
traditional corporate path, Kunal chose
the entrepreneurial route, a decision
that would shape his future and the
future of multiple industries.
I believe that great
design doesn't just
change how a space
looks—it changes
how it works, how
people feel in it, how
business gets done
inside it.
Kunal
SharmaSharmaSharma
Creating Spaces that Elevate
Human Experiences
Kunal Sharma
Founder and CEO
Flipspaces
The Passionate Entrepreneurs of the Year 2025
www.businessmindsmedia.in024 www.businessmindsmedia.in025

The Birth of Flipspaces
Kunal's transition from the education
sector to the tech-enabled design and
build sector was a natural evolution of
his entrepreneurial journey. In 2017, he
founded Flipspaces, a global tech-led
design and build brand that aims to
transform the way commercial and
retail spaces are discovered, designed,
At the core of Flipspaces is its
proprietary Virtual Reality (VR)
technology, which allows clients to
virtually walk through and visualize
their spaces in 3D before any physical
work begins. This ability to see designs
come to life before execution is a
game-changer, oﬀering an
unprecedented level of customization
and delivered. What sets Flipspaces
apart is its unique integration of
technology into the entire process of
interior design, product supply, and
project management. This innovation
allows Flipspaces to deliver an
unmatched customer experience and
create value in ways that traditional
interior design companies cannot.
and conﬁdence to clients. Flipspaces
also empowers clients to shop products
online, making the entire journey of
space creation more eﬃcient and
seamless. The integration of
technology into these processes is what
positions Flipspaces as a leader in the
design and build industry.
Empowering Businesses through
Technology
Flipspaces goes beyond being just an
interior design company. It serves as a
technology backbone for businesses in
various sectors such as real estate,
furniture, and architecture. The
company oﬀers customized SaaS
products for real estate builders, broker
partners, furniture and furnishing
brands, and retailers. These products
enable businesses to scale and grow by
leveraging the technology and tools
Flipspaces has developed. Whether it's
helping builders design a better space,
oﬀering a curated range of products, or
streamlining project management,
Flipspaces provides end-to-end
solutions that enhance operational
eﬃciency and customer satisfaction.
One of the standout features of
Flipspaces is its bespoke product
supply service. The company oﬀers an
immersive product visualization
experience that allows clients to view
products in real-life 3D environments
What we do at Flipspaces is
more than interior design.
We're in the business of
spatial
storytelling—helping
brands and businesses
bring their identity to life
through the spaces they
occupy.
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before making any purchase decisions.
This is particularly valuable in interior
design, where clients want to see how
diﬀerent elements will look together in
their space. By combining this
technology with a vast catalog of over
200,000 products, Flipspaces ensures
that customers have access to a wide
excellence and sustainability. As the
company's CEO, he has been dedicated
to creating a robust network of skilled
service partners who can deliver
projects at scale. Through technology,
Flipspaces has revolutionized the way
contracting is managed, ensuring that
the process from empanelment to
project execution is eﬃcient and
seamless. By leveraging a tech-
powered process for skill development,
induction, and day-to-day
management, Flipspaces has built a
scalable and sustainable operation that
can meet the growing demands of the
interior design and build industry.
Another key aspect of Flipspaces'
business model is its focus on project
management. The company uses
advanced project management
technology to automate complex
processes, such as cost control,
scheduling, procurement, and risk
assessment. This technology ensures
that projects are delivered on time,
range of options that suit every style,
theme, and budget.
Building Sustainable and Scalable
Operations
Kunal's leadership at Flipspaces is
deﬁned by his emphasis on operational
within budget, and to the highest
standards. By empowering project
managers with the right tools,
Flipspaces is able to streamline its
operations and deliver a superior
customer experience.
A Multifaceted Entrepreneur
Despite his busy professional life,
Kunal Sharma is a man of many
talents. His entrepreneurial spirit is
complemented by a strong creative
streak. Outside of work, Kunal is a
singer-songwriter, a theatre artist, a
playwright, and a poet. His passion for
creativity enriches his professional
endeavors, allowing him to think
outside the box and bring fresh
perspectives to the business world. It's
clear that Kunal ﬁnds joy not only in
entrepreneurship but also in the arts,
using his creative pursuits to fuel his
drive and innovation in his
professional life.
His love for technology,
entrepreneurship, and design is
matched only by his zest for life. Kunal
believes in the power of building
enterprises that make a diﬀerence, and
his ability to combine business and
technology has led to the creation of
Flipspaces, a company that is poised to
revolutionize the interior design and
build industry.
Medals of Merit
Kunal's remarkable achievements as a
serial entrepreneur have earned him
widespread recognition. He has been a
panelist and keynote speaker at several
entrepreneurship and educational
forums, where his insights have
inspired other aspiring entrepreneurs.
His work at Flipspaces has also
garnered various accolades, further
cementing his reputation as a forward-
thinking leader who is shaping the
future of business.
design and build solutions to more
markets around the world. His vision is
to make Flipspaces a household name
in the interior design industry, known
for its ability to provide customized,
tech-powered solutions that delight
clients and transform spaces.
In conclusion, Kunal Sharma is not just
an entrepreneur; he is a visionary
leader who has successfully combined
his technical expertise, business
acumen, and creative spirit to build
Flipspaces into a game-changing
company. His journey—from his days
as a co-founder of Mexus Education to
his current role as the CEO of
Flipspaces—serves as an inspiration to
anyone looking to make an impact in
the world of business and technology.
Additionally, Kunal has been a guest
lecturer on entrepreneurship at IIT
Bombay and Ruia College in Mumbai,
where he shares his knowledge and
experiences with the next generation of
entrepreneurs. This commitment to
mentoring and guiding young minds
reﬂects his belief in the power of
education and the importance of
nurturing talent.
The Future of Flipspaces
With Kunal Sharma at the helm,
Flipspaces is well-positioned to
continue its growth and innovation in
the interior design and build industry.
His leadership philosophy—centered
around customer-centricity, innovation,
and operational excellence—has
already driven the company to new
heights. As technology continues to
evolve, Kunal is committed to
integrating new innovations into
Flipspaces' oﬀerings to ensure that the
company stays ahead of the curve.
In the years to come, Kunal aims to
further expand Flipspaces' global
presence, bringing its tech-enabled
BM
I N D I A
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he journey from launching a
T
local start-up to scaling it
globally is one of the most
challenging yet rewarding milestones
for entrepreneurs. While local success
can be gratifying, taking your business
to the global stage presents an entirely
new set of complexities, opportunities,
and risks. However, with the right
strategy, mindset, and resources, your
start-up can evolve into a global
enterprise. In this article, we'll break
down the critical steps to scale your
business from local to global.
1. Master the Local Market First
Before even considering global
expansion, it's crucial to have a solid
understanding of your local market. A
successful start-up has a proven
product-market ﬁt, a loyal customer
base, and well-deﬁned operational
processes. Mastering these components
provides a strong foundation for
scaling.
Start by focusing on reﬁning your
product or service, building a strong
brand identity, and establishing
eﬃcient systems. This local success
will be your springboard for taking
your business to new markets. Your
local market experience will provide
key insights into what works and what
doesn't—insights that will prove
invaluable when expanding
internationally.
3. Conduct Thorough Market
Research
Expanding globally requires a deep
understanding of the target markets.
This means moving beyond surface-
level assumptions about international
demand and diving into comprehensive
market research. Start by identifying
which countries or regions oﬀer the
most potential for your business.
Consider factors like local demand for
your product, cultural diﬀerences,
economic conditions, legal
requirements, and competition.
Market research will help you:
•Identify ideal markets: Some
markets might be more receptive
to your business model than
others.
•Understand local consumer
behavior: Customer preferences
can vary signiﬁcantly across
borders. Local customs, tastes, and
purchasing habits must be factored
into your product oﬀerings.
•Evaluate competition: Assess
who the key players are in the
target markets and how you can
diﬀerentiate your business.
By conducting thorough research, you
can avoid costly mistakes and ﬁne-tune
your global strategy.
2. Understand When and Why to
Scale
Not every start-up is ready to scale,
and it's vital to assess your readiness
before committing to global growth.
Scaling too soon can lead to disastrous
results, whereas waiting too long might
cause you to miss opportunities.
Here are some signs your start-up may
be ready for global expansion:
•Proven product-market ﬁt:
You've found a consistent
customer base, and the demand for
your product or service is
growing.
•Sustainable revenue streams:
Your business is generating
enough revenue to fund expansion
eﬀorts without compromising its
operational needs.
•Scalable operations: Your
business systems, processes, and
team are equipped to handle
increased demand without
sacriﬁcing quality.
•Strong brand identity: You have
a recognizable and appealing
brand that can translate to new
markets.
Having a clear sense of timing is
essential—knowing when your
business is ready to scale and when it
isn't will help ensure long-term
success.
Scaling Your
Start-Up
From Local to Global
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4. Adapt Your Product and
Marketing Strategy
One of the key challenges in scaling
globally is adapting your product to
meet the needs and preferences of
diﬀerent markets. What works in one
country may not be suitable for another
due to cultural, social, or economic
diﬀerences.
This step involves:
•Localization: Adapt your product
or service to ﬁt the local culture,
language, and preferences. This
could mean translating your
website and marketing materials,
modifying your product features,
or even changing packaging
designs to resonate with local
tastes.
•Pricing strategy: What's
aﬀordable in your home market
may be out of reach for customers
in other countries. Tailor your
pricing strategy to reﬂect local
purchasing power and competitors'
pricing.
•Marketing adjustments: Global
expansion requires localized
marketing campaigns. From social
media advertising to content
creation, your marketing strategies
need to speak directly to your new
audience while remaining
consistent with your brand
message.
In some cases, you might need to
create entirely new oﬀerings for
diﬀerent markets. The more you tailor
your approach, the better your chances
of connecting with international
customers.
5. Build an International Team
One of the cornerstones of scaling
globally is building a strong
international team. If you're expanding
•Expanding market reach: Digital
marketing strategies such as SEO,
content marketing, and social
media advertising can help you
reach a global audience without a
physical presence in every market.
•Maintaining communication:
Communication tools like Slack,
Zoom, and project management
software help keep teams
connected regardless of time
zones.
Leveraging the right technology allows
you to scale faster, more eﬃciently,
and with fewer resource constraints.
Conclusion
Scaling from a local start-up to a
global business is a monumental
challenge that requires strategic
planning, local insight, and the ability
to adapt to diverse markets. By
focusing on market research, product
adaptation, building a strong team, and
leveraging technology, entrepreneurs
can successfully scale their start-ups
beyond borders. While the road to
global expansion is not without its
hurdles, the rewards—both ﬁnancial
and personal—can be immense for
those who navigate the process
thoughtfully and strategically.
into regions with cultural, language,
and operational diﬀerences, local
expertise becomes invaluable.
This could mean:
•Hiring local talent: Having team
members who understand the local
market, culture, and business
landscape is essential for smooth
operations and better customer
engagement.
•Developing cross-cultural
competencies: As your team
expands globally, fostering an
understanding of cultural
diﬀerences and practices will be
crucial to maintaining cohesion
and eﬀective communication.
•Outsourcing: In some cases,
outsourcing certain functions like
customer service or digital
marketing to local ﬁrms can help
you gain a foothold in new
markets without needing a full-
time presence in the country.
An international team ensures that your
business remains adaptable and aligned
with local market needs while staying
true to your global vision.
6. Leverage Technology for Global
Growth
Technology is one of the biggest
enablers of global expansion. From
cloud computing and e-commerce
platforms to digital marketing and
customer relationship management
(CRM) tools, modern technology
allows businesses to scale more
eﬃciently and eﬀectively.
Technology helps by:
•Streamlining operations:
Automating tasks such as
inventory management, order
processing, and customer support
can save time and reduce human
error.
BM
I N D I A
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here's a quiet kind of brilliance
T
in design that doesn't clamor
for attention. It's in the clean
lines of a well-cut silhouette, the tactile
comfort of quality materials, the
functionality that feels almost intuitive.
Such design doesn't age—it evolves
with the person who uses it.
This philosophy ﬁnds its perfect
expression in eské, a modern design
house rooted in Indian craftsmanship
and shaped by global perspectives. At
the heart of it is Shivam Khanna, a
founder who believes in creating a
movement. With a heritage in leather
craftsmanship and a sharp eye for
detail, Shivam has reimagined what
modern Indian luxury can look like
From Legacy to Leadership
Born into a family steeped in leather
craftsmanship, Shivam was no stranger
to the art of making. His childhood was
colored by factory ﬂoors, skilled
artisans, and the unique aroma of
treated leather—an experience that
shaped both his aesthetic sensibility
and his understanding of quality. But
rather than follow a conventional path,
he set out to explore the world.
eské's design philosophy is clean,
timeless, and practical. Whether it's
handbags, briefcases, wallets, or
footwear, every product balances
minimalism with thoughtful details.
The color palettes are intentionally
muted, the silhouettes elegant, and the
ﬁnishes ﬂawless—because eské isn't
just making things to be used, but
pieces to be loved.
The brand's aesthetic doesn't scream
for attention. Instead, it draws you in
quietly—like a good book or a classic
ﬁlm. It's the kind of luxury that ages
well, becoming more personal and
intimate with time.
Quiet Luxury Meets Loud Impact
What makes eské truly unique is its
unwavering commitment to conscious
creation. At a time when fashion often
celebrates excess, eské embraces “less
is more.” The brand doesn't produce
Studying Accounting and Finance at
the University of Illinois Urbana-
Champaign, Shivam gained a global
perspective on business and branding.
Yet, even miles away from home, the
seed of an idea kept growing. He
returned to India equipped not only
with education, but with a desire to
give Indian craftsmanship the global
recognition it deserved.
Why eské? A Question That Sparked
a Revolution
Back in India, Shivam joined the
family's export business, which was
manufacturing leather goods for some
of the world's top luxury brands. This
exposure highlighted a striking truth:
India was creating luxury, but the
credit rarely came home.
eské was born from that question of
“why not us?” Why couldn't an Indian
brand be globally revered? Why
couldn't homegrown artisans get the
recognition they deserved? With these
thoughts, Shivam launched eské—a
brand rooted in authenticity, guided by
ethics, and driven by design.
The Design Language of the New
Luxury
Shivam Khanna
Writing a New Chapter in Indian Design
Shivam Khanna
eské
I want the
world to
see India
not just as
a maker of
goods, but
as a creator
of culture.
The Passionate Entrepreneurs of the Year 2025
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for the sake of seasons or sales—it
creates when there's a real reason to.
This approach isn't just
environmentally responsible; it's
emotionally intelligent. Consumers
today crave meaning, and eské answers
with integrity. The brand oﬀers a
lifetime warranty, encouraging
mindful consumption and showcasing
conﬁdence in its enduring quality.
Empowering the Hands Behind the
Craft
While Shivam may be the face of the
brand, the soul of eské lies in the hands
of its artisans. Each product is a
collaboration between visionary design
This model not only ensures
consistency in quality, but also allows
the brand to innovate quickly without
compromising on values. From
sourcing to stitching, everything
happens under one
ecosystem—streamlined, eﬃcient, and
ethical.
This also allows eské to remain agile in
a dynamic market, blending the agility
and masterful craftsmanship. These
artisans aren't just workers—they're
partners in creation.
Under Shivam's leadership, eské
ensures fair wages, digniﬁed working
conditions, and genuine respect for
traditional skills. It's not about mass
production; it's about meaningful
employment and preserving a craft
that's been passed down for
generations.
Structure that Supports Innovation
eské operates on a vertically
integrated model, giving it full control
over its production and supply chain.
of a startup with the precision of a
legacy manufacturer.
Tech-Forward but Tradition-First
While eské draws from ancient
craftsmanship, it embraces modern
technology in its operations. Shivam
has made it a point to leverage digital
platforms, data analytics, and e-
commerce to expand the brand's reach
without losing its personal touch. The
brand's direct-to-consumer approach
fosters transparent dialogue, allowing
eské to truly listen to its audience.
And that's what sets eské apart: a rare
balance of heritage and innovation,
its “why”: to honor craftsmanship,
promote slow fashion, and give
Indian design a global voice.
The Man Behind the Mission
While eské has its own distinct
identity, Shivam Khanna's ﬁngerprints
are everywhere—from the ethos of the
brand to the curve of a bag's handle.
His leadership style is grounded in
clarity, compassion, and conviction.
He doesn't chase trends or compete in
crowded spaces. Instead, he carves
thoughtful paths forward.
Shivam is deeply engaged with every
aspect of the business, but he leads by
enabling rather than controlling. His is
not the loud, performative leadership
we often see; it's a quiet force—one
that inspires by example, not ego.
Redeﬁning What Success Looks Like
For Shivam, success isn't measured by
how many units eské sells. It's
measured by how many lives the brand
touches, how many artisans are
uplifted, how many consumers feel
emotionally connected to their
purchases.
He envisions a future where Indian
luxury is not an anomaly, but an
aspiration. Where brands like eské
aren't the exception, but the standard.
Where “Made in India” stands for
mindful, meaningful, and magniﬁcent.
What Lies Ahead
eské's journey is just getting started.
Shivam and his team are steadily
expanding their footprint—both
digitally and physically—with an eye
on entering global markets that
appreciate subtle sophistication. New
product categories, collaborations, and
experiences are on the horizon, but
always with intention, not impulse.
The future is bright, not because eské
chases the spotlight, but because it
shines from within.
function and ﬂair, commerce and
conscience.
Building a Brand That Speaks
Values
eské isn't just a business—it's a brand
with values. Every decision—from
packaging materials to pricing
models—is weighed against its core
principles of responsibility, quality, and
empathy. The brand doesn't shout
sustainability; it lives it quietly,
consistently.
Whether it's choosing suppliers,
developing new designs, or telling
brand stories, eské always returns to
Design, for me, is not
about decoration—it's
about purpose. Every
curve, every stitch has to
earn its place.
BM
I N D I A
www.businessmindsmedia.in036 www.businessmindsmedia.in037

Entrepreneurship is living a few years of
your life like most people won’t, so you
can spend the rest of your life like most
people can’t

n today's fast-paced, ever-evolving
I
business world, adaptability has
become one of the most crucial
traits for entrepreneurs. The market is
constantly shifting due to technological
advancements, consumer behavior
changes, economic ﬂuctuations, and
global disruptions like the COVID-19
pandemic. To thrive in such an
unpredictable environment,
entrepreneurs must embrace
adaptability—not just as a survival tool
but as a means to capitalize on new
opportunities and achieve sustainable
growth.
This article explores the importance of
adaptability in entrepreneurship and
provides actionable insights on how
entrepreneurs can harness this power to
thrive in a changing market.
1. Understanding Adaptability in
Entrepreneurship
At its core, adaptability refers to an
entrepreneur's ability to adjust
strategies, products, services, and
business models in response to
changing market conditions. It
involves being ﬂexible and open to
change, whether it's shifting consumer
demands, emerging technologies, or
unforeseen external factors.
tools or innovate through
technology risk being left behind.
From automation to artiﬁcial
intelligence (AI), technological
shifts have disrupted entire
industries, forcing entrepreneurs to
pivot and incorporate new
solutions.
•Economic and Regulatory
Changes: Changes in government
regulations, economic conditions,
and global events like the COVID-
19 pandemic can dramatically
alter the business landscape.
Entrepreneurs who can quickly
adjust their strategies in response
to such changes are more likely to
weather economic storms and
capitalize on new opportunities.
•Competition: The competitive
landscape is more intense than
ever. New startups are emerging
constantly, and established players
are constantly innovating.
Entrepreneurs must be adaptable
to stay ahead of competitors and
diﬀerentiate their businesses.
3. Practical Ways Entrepreneurs
Can Build Adaptability
While adaptability is an inherent trait
for some, it can also be developed over
time with the right strategies. Here are
a few practical ways entrepreneurs can
build and strengthen their adaptability:
Entrepreneurs who are adaptable don't
cling to outdated methods or resist
change; instead, they view change as
an opportunity to innovate, learn, and
stay relevant. This mindset is essential
for navigating the complexities of
modern business, where agility is often
the diﬀerence between success and
failure.
2. Why Adaptability Is Essential in a
Changing Market
A dynamic market presents numerous
challenges and opportunities. Whether
it's a sudden economic downturn, a
new competitor entering the space, or a
global crisis, entrepreneurs must
respond swiftly and eﬃciently. Here
are a few reasons why adaptability is
essential:
•Customer Expectations Are
Constantly Evolving: Consumer
preferences are not static, and
businesses must remain attuned to
these shifts. For instance, in the
digital age, customers expect
convenience, speed, and
personalized experiences.
Entrepreneurs must adapt their
oﬀerings to meet these ever-
changing demands.
•Technological Advancements:
Technology is advancing at an
unprecedented rate. Companies
that fail to adopt the latest tech
How
Entrepreneurs
Can Thrive in a
Changing Market
The Power of Adaptability
www.businessmindsmedia.in040 www.businessmindsmedia.in041

•Plan for Uncertainty: Build
contingency plans to prepare for
market disruptions. While you
can't predict the future, having a
roadmap in place for potential
challenges allows you to act
quickly and eﬃciently when
things go wrong. Consider
scenarios like economic
downturns or sudden shifts in
consumer demand and create
strategies for each.
Conclusion
In a world where change is the only
constant, adaptability is the key to
entrepreneurial success. By cultivating
the right mindset, staying informed,
and proactively embracing change,
entrepreneurs can not only survive but
thrive in an ever-changing market.
Adaptability empowers entrepreneurs
to innovate, connect with customers,
and build resilient businesses that can
endure and succeed in the face of
uncertainty. In the end, those who are
adaptable are the ones who will lead
the way into the future.
•Focus on Customer Feedback:
Regularly engage with your
customers to understand their
needs, pain points, and desires.
This feedback is invaluable in
helping you adapt your products,
services, or business model.
Whether it's through surveys,
social media, or customer service
interactions, staying in tune with
your customer base enables you to
respond eﬀectively to changes.
•Invest in Technology and
Innovation: Keep up with
technological advancements that
could improve your business
operations or enhance your
product oﬀerings. Whether it's
adopting new software tools,
embracing automation, or
exploring digital marketing
strategies, investing in innovation
allows you to stay competitive and
adaptable.
•Build a Flexible Business Model:
A rigid business model can limit
your ability to adapt to changing
circumstances. Focus on building
ﬂexibility into your operations by
exploring multiple revenue
streams or oﬀering products and
services that can evolve over time.
•Cultivate a Growth Mindset:
Encourage a culture of
adaptability within your team by
fostering a growth mindset. This
means emphasizing the
importance of learning from
mistakes, embracing challenges,
and continuously improving. A
growth-oriented team will be
better equipped to handle market
changes and innovate when
needed.
•Monitor Industry Trends: Stay
informed about developments in
your industry. Whether it's
regulatory changes, technological
innovations, or consumer trends,
keeping up-to-date allows you to
anticipate changes rather than
react to them. Subscribe to
industry newsletters, attend
conferences, and follow thought
leaders to stay ahead of the curve.
BM
I N D I A
www.businessmindsmedia.in042 www.businessmindsmedia.in043

hen it comes to choices,
W
today's customers don't
just have more—they have
everything. Products are a swipe away,
comparisons are instant, and brand
loyalty is one bad experience from
disappearing. Add in a maze of
channels—apps, websites, voice
assistants, social DMs—and
expectations get higher, sharper, and
more unforgiving. Every moment
counts. Every reply matters. And yet,
so many brands are still playing catch-
up, trying to connect the dots in a
fragmented experience. The truth is:
it's hard. Customers want immediate
answers, not automated apologies.
That's exactly why Haptik was built.
Founded with the belief that intelligent
conversations can simplify decisions,
Haptik delivers AI-powered virtual
assistants tailored to your industry,
making it easier for customers to get
what they need, when and where they
need it. Whether through voice or text,
app or widget, it's about oﬀering
clarity, not clutter. Behind this
movement is Swapan Rajdev, a
product visionary who saw the
potential of conversational AI long
before it became a buzzword. This is
the story of how he turned that vision
idea emerged from a simple need:
improving how businesses interact
with their customers through digital
assistants. Under his leadership, Haptik
evolved into India's largest
conversational AI platform, handling
billions of messages and helping
brands deliver eﬃcient and empathetic
support.
Rajdev's vision extended beyond
automating repetitive tasks—he aimed
to create intelligent systems capable of
human-like understanding, enabling
businesses to resolve queries while
delivering personalized experiences.
into India's largest platform for
customer engagement.
Swapan Rajdev's journey into
technology began with curiosity and a
desire to solve meaningful problems
through innovation. An alumnus of the
University of Illinois Urbana-
Champaign (UIUC), he honed his
skills in computer science, setting the
foundation for a career that would
blend technical expertise with
entrepreneurial ambition. During his
time at UIUC, Rajdev developed a
knack for product building,
exempliﬁed by his creation of Snake
Classic, an iOS application that
climbed to the #4 spot on the App
Store in 2009. Remarkably, this was
accomplished while he was working
full-time at Accenture, reﬂecting his
ability to balance execution and
experimentation—hallmarks that
would later deﬁne his leadership.
The Birth of Haptik
In 2013, well before chatbots became
widely adopted or large language
models were commonplace, Swapan
co-founded Haptik, a conversational AI
platform designed to automate
customer support and engagement. The
Haptik's solutions seamlessly
integrated into voice and text interfaces
across multiple industries, from e-
commerce and telecom to travel and
insurance.
Product, People, and Performance
Swapan played a central role in scaling
Haptik from a startup into a globally
respected enterprise partner. As CTO
and co-founder, he led the product,
engineering, research, and go-to-
market functions, growing a team of
over 300 professionals. His focus on
scalable infrastructure, robust data
The goal was to
create intelligent
systems that feel less
like tech and more
like help that's
actually helpful.
Swapan
Rajdev
Designing Conversations
That Matter
Swapan Rajdev
Co-founder & CTO
Haptik
The Passionate Entrepreneurs of the Year 2025
www.businessmindsmedia.in044 www.businessmindsmedia.in045

handling, and contextual AI allowed
Haptik to support over 1 billion
monthly conversations, servicing 500+
enterprise clients and more than 10,000
small businesses.
Under his leadership, the platform
became known for its multi-turn
conversational capabilities, AI-
to precision and adaptability made
Haptik a key partner for companies
looking to enhance customer
experience while optimizing costs.
A Milestone Acquisition and
Industry Recognition
In 2019, Haptik reached a deﬁning
milestone when it was acquired by
Reliance Jio for $100 million, a
testament to its value and potential.
This acquisition gave Haptik a broader
platform to serve millions of users
across India and beyond. Under the
Reliance umbrella, the company scaled
further, integrating into key digital
services and playing a critical role in
the conglomerate's digital
transformation eﬀorts.
Swapan's work has not gone unnoticed.
He was honored as one of MIT
Technology Review's Top Innovators
Under 35, and received the Young
Alumni Achievement Award from
powered voice assistants, and seamless
omnichannel deployment, delivering
always-on, context-aware support in
over 100 languages. Haptik's
technology didn't just respond to
customer questions—it understood
intent, retained context, and handled
complex queries without reverting to
rigid decision trees. This commitment
UIUC. These accolades recognize not
just his entrepreneurial success, but
also his contributions to advancing
applied AI in enterprise settings.
Investing in the Next Generation
Beyond building companies, Swapan
Rajdev is deeply invested in supporting
the next generation of tech
entrepreneurs. As an angel investor, he
backs high-potential startups focused
on AI, developer tools, and enterprise
software. His portfolio includes
companies such as TurboML, Portkey,
Gumlet, Cloudanix, and Replit—each
of which reﬂects his belief in practical,
scalable technology that empowers
users.
Swapan's involvement often goes
beyond capital. He mentors founders,
helps shape product strategy, and
shares insights from his own
journey—particularly around scaling
AI-ﬁrst cultures, product-market ﬁt,
and team building. His philosophy is
grounded in learning by doing and
fostering resilience through
experimentation.
A Philosophy Rooted in Impact and
Scalability
At the heart of Swapan's work is a
consistent drive to create solutions that
are both impactful and scalable. With
Haptik, the focus wasn't just on
automating support, but on enhancing
customer satisfaction through smart
design and real-time responsiveness.
Whether through voice-based virtual
assistants, data-rich performance
dashboards, or multilingual support
systems, every product feature was
built to deliver measurable value.
Haptik's solutions are deployed across
industries and used by household
brands like Samsung, KFC, Tata
Group, Coca-Cola, Zurich Insurance,
Whether it's a virtual assistant
resolving a customer issue in seconds
or an AI-powered dashboard surfacing
product insights, Rajdev is focused on
building tools that are useful, usable,
and sustainable. His approach
combines technical rigor with product
intuition, always looking for ways to
turn emerging technologies into
products that solve real business
problems.
A Legacy of Thoughtful Innovation
Swapan Rajdev's contributions to AI
and technology go beyond accolades or
successful exits. He represents a new
generation of leaders who combine
technical depth with strategic thinking,
and who are committed to building
with purpose. His story—from a side
project at Accenture to leading India's
most prominent AI platform—is a
reminder that transformative ideas can
emerge from curiosity, grit, and a
relentless focus on impact.
As he continues to advise startups,
invest in promising ventures, and
explore the next frontier of AI, Swapan
remains a builder at heart, passionate
about crafting intelligent systems that
improve how people live, work, and
connect.
and OYO Rooms. These companies
rely on Haptik to deliver 24/7 support,
reduce human intervention where
appropriate, and increase customer
engagement. Key features such as
intent detection, self-serve automation,
and SOP compliance tracking make the
platform indispensable for modern
enterprises.
Building Responsible AI Systems
Swapan is equally focused on ensuring
that AI systems are responsible, safe,
and well-governed. Haptik's AI agents
are developed with strict guardrails to
ensure that outputs remain accurate,
brand-safe, and aligned with enterprise
standards. These guardrails are
especially important in sectors like
ﬁnance and healthcare, where
misinformation can have serious
consequences.
The company's commitment to ethical
AI also includes optimizing the use of
unstructured data, enabling systems to
handle nuanced questions while
avoiding generic or oﬀ-topic
responses. This ability to process
complexity while maintaining clarity is
one of the platform's deﬁning
strengths.
The Future of AI and Conversational
Interfaces
As large language models and
generative AI reshape the technology
landscape, Swapan remains at the
forefront of exploring how these tools
can augment human capabilities rather
than replace them. He believes the
future of AI lies in systems that
enhance workﬂows, personalize
experiences, and deliver intelligent
automation without compromising
quality or trust.
BM
I N D I A
www.businessmindsmedia.in046 www.businessmindsmedia.in047

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