CXOToday participated in an exclusive interview with Dr. Sunil Shekhawat, CEO, Sanchiconnect.
- What inspired Dr. Sunil Shekhawat to set up Sanchiconnect and how did it get started?
Answer – The creation of Sanchiconnect stems from my personal experience as a startup founder and later as a participant in a mature ecosystem that offers limited channels to identify and build early partnerships on the business front. Recognizing the ongoing challenges of connecting with investors, especially in deep tech and disruptive technologies, we envisioned Sanchiconnect as a solution to streamline not only the fundraising but also the early GTM process for founders while providing them with access to an exclusive talents. The subsequent validation of the Sanchiconnect concept, as evidenced by the positive feedback from stakeholders (founders, venture funds, corporations, enablers), served as confirmation of the need and relevance of this platform.
- What sets Sanchiconnect apart from other investment networks and accelerators in India?
Answer – We are mainly aligned with 3 principles: Founder First – Whatever we decide to do, it is always designed from the perspective of a startup founder driven by partnership – We strongly believe in partnership rather than competing with the ecosystem outside and trust is a third principle that comes with transparency.
- How does Sanchiconnect select the startups it partners with and what are some of the key criteria you look for?
Answer – We have a thorough selection process that is based on the collective intelligence of experts in the field. We aim to support early-stage startups, especially those involved in building intellectual property or using emerging technologies to solve widespread problems. Our selection criteria include several key factors. First, we assess the uniqueness and potential impact of the startup’s technology or product. We seek innovative solutions that can disrupt existing industries or create new ones.
Second, we consider the team behind the startup. We are looking for founders and teams with strong entrepreneurial drive, deep expertise in their respective fields and passion for their vision. It’s essential for us to partner with people who are committed to building and scaling their business.
Additionally, we assess the market potential and scalability of the startup’s product or service. We are looking for startups that meet a significant market need and have the potential for rapid growth. A clear and compelling business model is also a key aspect we consider during the selection process.
- What challenges do you see facing Indian startups today and how does Sanchiconnect address them?
Answer – There are several challenges facing Indian startups right now, including a lengthy and sometimes irritating fundraising process, difficulty in accessing top-level talent, limited integration into the corporate ecosystem, and a dearth of interconnected service providers , equipped to meet the specific requirements of start-ups. Sanchiconnect proactively addresses these challenges by creating a comprehensive platform that enables deep-tech firms to secure capital through partnerships with a broad network of over 100 investment partners, including venture capitalists, angel networks and investment syndicates. In addition, Sanchiconnect facilitates access to a world-class talent pool and network of service providers adept at addressing the distinctive needs of startups, thereby enabling deep-tech ventures to achieve scalability and achieve success on a global scale.
- How does Sanchiconnect envision the future of the Indian deep tech startup ecosystem?
Ans-Sanchiconnect has a clear vision to foster the growth of Indian deep tech startups, enabling them to achieve global scalability and democratize their visibility and access. Our main goal is to streamline the fundraising process for founders, allowing them to focus more on growing their business. Additionally, we facilitate access to top-level talent and establish valuable connections between startups and enterprise ecosystems, as well as service providers that can meet their specific requirements. With the invaluable support of our investors and an expanding network of startups, Sanchiconnect has dedicated itself to creating an ecosystem that enables startups to not only sustain but thrive in their respective industries.
- What advice would you give to early stage startups looking to partner with Sanchiconnect or other investment networks in India?
Answer – For early stage startups looking for partnerships with Sanchiconnect or other investment networks in India, I would recommend doing a thorough due diligence on the investment networks and their associated partners to ensure a harmonious fit with the startup’s goals and aspirations. It is also essential for startups to craft a compelling pitch and demonstrate consistency in their outreach efforts given the ongoing challenges of fundraising. Establishing robust networks and cultivating meaningful connections within the ecosystem should also be prioritized as a means of increasing the likelihood of achieving desired outcomes and success.
- How has Sanchiconnect evolved since its inception and what are some of its significant achievements so far?
Ans-Sanchiconnect was created to facilitate the global scaling and democratization of deep technology and emerging technology solutions originating from India. Through its efforts, Sanchiconnect has successfully facilitated over 20 co-investment deals within the first 8 months, effectively assisting startups in raising capital. The achievements so far have provided validation for the initial assumptions, further motivating Sanchiconnect to continue building an ecosystem that supports the long-term sustainability of startups.
- In what ways does Sanchiconnect contribute to the success of deep tech founders?
Answer – We provide a platform that facilitates interaction between startup founders, investors and corporates specifically focused on the deep technology space. By organizing these interactions, Sanchiconnect helps founders connect with potential investors and strategic partners who are specifically interested in deep tech startups. This increases the chances of finding suitable financing and partnership opportunities.
Additionally, Sanchiconnect aims to make life easier for deep tech founders by offering various resources and tools. This includes fundraising assistance, access to potential customers, hiring support and tools to boost their go-to-market efforts. By eliminating friction and providing end-to-end support, Sanchiconnect helps founders meet the challenges of building and scaling their deep-tech ventures.
- How Sanchiconnect helps corporates improve their innovation journey?
Ans- Sanchiconnect plays a vital role in helping corporates in their innovation journey. We understand that established companies often face challenges in adapting to the rapidly evolving technology landscape and staying ahead of the competition. Our platform acts as a bridge between these corporations and innovative startups.
We facilitate partnerships and collaborations between corporations and startups, enabling corporations to benefit from innovative ideas and technologies developed by startups. Through our platform, corporations gain access to a curated network of startups that meet their specific needs and goals.
We also provide corporations with strategic guidance and support in implementing innovation initiatives. Our team of experts works closely with corporations to identify their innovation goals and challenges and then helps them navigate the startup ecosystem to find the most suitable partners. We offer customized consulting services, workshops and mentoring to help corporations improve their innovation capabilities.
- How does Sanchiconnect help investors identify and access promising deals early in their journey?
Ans- Sanchiconnect recognizes the importance of early stage investments in startups and the potential for high returns. We support investors in identifying and accessing promising deals through our platform and network.
We provide investors with access to a wide range of selected startups, especially those in the deep technology sector, that have passed our rigorous selection process. Our platform allows investors to discover startups based on their investment preferences, industry focus and growth potential. They can explore detailed profiles including business plans, financials and key metrics to make informed investment decisions.