Cheat Sheet: Success Hacks for Deeptech Startups

Want to start/starting/running a deeptech startup? Want to learn from what deeptech startups did RIGHT, and what they did WRONG. Here is a cheat sheet compiled by deeply studying 10 deeptech and AI startups in India - this is your go-to cheat sheet for success.

(Count of +: How important; * This needs your attention)

#1 Be an EARLY mover, but with PROPER technology evaluation. +

• Test if solution is technically FEASIBLE
• Check if the ECOSYSTEM is ready
• Stress-test BUSINESS MODEL
• Be BOLD to be the first-mover*

#2 Develop DEEP understanding of the PROBLEM +++

• Spend time CLOSE to the problem
• Hear CUSTOMER VOICE to understand problem, but find the solution yourself *
• DONT get enamoured by cool tech alone!
• Build tech ALIGNED to problem statement 

#3 Build a NARROW use case with a LARGE addressable market ++++

• Avoid solving niche, complex problems without BIG MARKET *
• Technology is commodity many-a-times, find BROAD use cases
• Think through and discover the right MARKET at the start
• Take a PRODUCT led approach, not services *
• Good to have healthy sales-product TENSION

#4 Pilot, persist and market +++

• PILOTS are important to streamline product and model *
• Discover PRICE through customer adoption
• Figure objective ROI for customers
• Do PERSISTENT SALES than just product dev*
• International market needs FOUNDER RELOCATION
• FIGHT lack of indian company credibility in deeptech

#5 Get Smart and patient investors with deep pockets ++

• Find investors with deep POCKETS but with PATIENCE*
• Find SMART investors connected to the ecosystem
• Hardware startups will need DOUBLE the effort to raise

#6 Deep tech needs deep, diverse talent

• Important to have COMPLEMENTARY SKILLS in founders*
• Proper EVALUTION of talent is key
• Build MULTIDISCIPLINARY teams

Number of + represent how often ‘a learning’ occured in this book, Futurepreneurs

* signifies the most important (high frequency) principle for a given learning

This check list has been taken from the book 'Futurepreneurs: 10 Deeptech and AI startups redefining tech in India - stories and lessons' written by Nistha Tripathi and Varun Agggarwal.

Please refer to the book for more details about each 'Success Hack'. Refer to the chapter, Afterthoughts.