Met Gala: ET Startup Awards 2024 | Globality is the main theme of the Met Gala startup calendar

As the night progressed, the entire ecosystem agreed on one thing – this was the best edition of ETSA yet.

Even that infamous evening downpour in Bengaluru, which led to even more infamous traffic jams in Bengaluru, couldn’t stop the tenth edition of the Economic Times Startup Awards (ETSA) from becoming the most exciting yet.

Moving from sneakers to brown leather shoes, from t-shirts to shirts, ETSA 2024 was a passing out parade for a generation of start-up entrepreneurs, and the next generation – appropriately dressed in t-shirts and sneakers – was poised to take over the disruption tag.

With all the pride of startups standing on the verge of entering public markets or listing on a stock exchange, the talks were not about the next round of financing and the amount of runway available, but about the need to implement global activities.

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Peeyush Bansal, founder of Lenskart, who won top honors at ETSA, was clear on what needs to be done next. “We need to change the orbit in which we operate. We need to change our equation in terms of impact on a global scale, just like Microsoft and Google. We are very impressed with global brands… the same must happen to Indian brands around the world.”

It was a message that resonated widely. Vidit Aatrey, co-founder and CEO of Meesho, said: “Today, the panel talked about what it takes for the ecosystem to grow and move from mere profitability to aspirations to create global companies – something many people can relate to.” Chaitanya Ramalingegowda, co-founder of Wakefit, agreed. “The discussions were not about survival, fundraising or valuation. That was about the next 5, 10 years in terms of global development. This is a very good change,” he said.

Read also: ET Startup Awards 2024 | The warm-up decade is over and the clock is ticking for the real game

The next generation can’t wait to do their part.

No one ruled out this confidence more than Zepto founder Aadit Palicha, who said: “There is no market size excuse and no capital excuse. It’s just an execution. We need to build truly exceptional online businesses in India. Companies generating hundreds of millions of dollars in free cash flow.”

Uno’s number

GV Ravishankar, Managing Director, Peak XV Partners, clearly indicated that ETSA is undoubtedly an unmissable evening for the ecosystem. “I have never missed this event. I’m always here because I think it’s the best gathering of the brightest and best in the industry.”

As Ritesh Banglani, partner at Stellaris Venture Partners, succinctly put it: “ETSA is the Met Gala of the startup social calendar – the one evening of the year where founders and VCs gather to toast our industry. Everyone is there because everyone is there. Just walking around the lobby, I met long-lost friends from other cities and other decades.

“Topics of discussion included the upcoming IPO, Indian family offices’ demand for private equity, unseasonal rains in Bengaluru and availability of motorcycle spare parts,” he added.

This explains why even Gurgaon’s typical startup poster boy, Zomato founder Deepinder Goyal, who hasn’t visited Bengaluru since 2017, couldn’t resist the lure of the tenth edition of ETSA.

In keeping with ETSA’s entrepreneurial spirit, Unacademy founder Gaurav Munjal, wanting to squeeze in those few extra minutes at work, decided to drop by the awards ceremony, rush to his office, and return a moment later. “The office is only five minutes away,” he smiled.

That’s what this evening was about – perseverance and ambition. After all, as TC Meenakshisundaram, founder of Chiratae Ventures, said: “It is a celebration of the startup ecosystem.”