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Insights By Accel

Episode 

19

Building a B2B Marketplace for India

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We continue with our discussion on building for India in the #INSIGHTSpodcast series and in this episode, we focus on selling to manufacturing SMEs. To talk about this important topic, we have Narayan, Co-founder of Power2SME, a “buying club” for SMEs. Narayan is a serial entrepreneur and before starting Power2SME, he was the founder & CEO of Denave, India’s largest technology powered sales enabling services company. Previously he held various leadership positions in companies like Oracle and Microsoft.

Building a B2B Marketplace for India

On this podcast, we discuss the need for a “buying club” for the Indian SMEs, the role of credit in the economy, the life of a few and inescapable market effects:

Identifying a value proposition that can scale
- Solving the right problems — choosing a problem which is a real pain point for customers
- Importance of aligning with the interests of all players in the ecosystem

Building out the marketplace
- Building out a marketplace for large sellers and small buyers
- How is the market structured, and the quality of supply in India
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Onboarding small unorganized players onto an organized marketplace
- Turning Skeptics to believers — getting your first large seller to take you seriously

Working capital for SMEs
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Challenges with getting credit for SMEs and the challenges for banks to — underwrite and service SMEs
- Why is working capital a big issue for SMEs? Potential for innovation
- Taking on risk with NBFCs to enable credit for SMEs
- The ILFS, liquidity crunch and how the credit system operates

Lessons learnt from running a startup
- The ups and downs of running a startup — dealing with market effects
- Effects of policy and regulation on business and SME
- Diversification of portfolio of customers and lenders
- Advice for startup founders — the importance of building a strong leadership and mentorship network

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Download Pitch Deck

We’re looking for the next generation of successful Indian marketplaces. If you’re an early-stage marketplace founder, apply now here or learn more about the #DecodingMarketplaces Startup Hunt.

We’d love to hear about your experiences with marketplaces. Let us share our learnings and build a better and stronger ecosystem. Write to us at seedtoscale@accel.com to be a part of the Accel family.

Jennifer Phan
Co-founder and CEO, Passionfroot

We’re building Passionfroot 1, an operating system for creators to manage their business.

We’re based in Europe and raised our $ 3.4m pre-seed round from Creandum and US angels such as Vlad (Webflow) and creators like Ali Abdaal.As we’re creating a new category and as the creator economy is global and mostly online, we’re building from Day 1 a global company and product that helps creators monetize around the world.

This brings a lot of complexities especially in terms of payments and taxes as our early users are based both in Europe and the US and deal with cross-border transactions.What are Do’s and Dont’s for European startups who have a global ambition and build products for a global customer base from Day 1. Anything you would do differently?

Krish Subramanian
Co-founder, Chargebee

Thanks @pjbouten! Love how you’ve thought about incrementally shaping a category with a focus on product and service, and only then thinking about getting the message out there vs the other way around.

And totally agree on the distinctions and overlaps both self-serve and enterprise motions share.

Community/Editorial, Relay

Thanks, PJ, for taking the time to address questions from the great vantage of shaping Showpad into a global, enterprise SaaS brand!


Interested in authoring a guest article or narrating your start-up journey for SeedToScale?
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