Focus on raising citizen awareness, increasing digital consumption, a tech-savvy mindset, and a maturing tech ecosystem are contributing to the evolving India story. As a result, there is a growing need to coordinate and connect the dots between various stakeholders working on newer innovations to address business complexity, talent needs, and the country’s global outlook.
Setting this tone, the 18th edition of Deloitte's TechFast50 2023 event announced a Community Action Plan (CAP) to create a series of knowledge-driven sessions to foster collaboration and nurture ideas that can scale and propel India’s transformation.
CAP involves the participation of founders, industry leaders, academia, and the alumni network to exchange knowledge-sharing experiences and use cases. Further tech leaders can secure support for governance guidance, and go-to-market outreach of offerings together throughout the year.
Celebrating path-breaking innovations, the cohort honored outstanding achievements of emerging tech companies in India that have witnessed remarkable growth amidst challenging funding environments and the country’s evolving business landscape.
Speaking about the initiative, Peeyush Vaish, Partner and TMT Industry Leader, Deloitte India, said “At Deloitte, we are committed to celebrating and collaborating to bring the “bold, bespoke, and bright” ideas, to the forefront. We aim to nurture, educate, and join hands with the tech ecosystem, and foster their exceptional passion, innovation, and technological advancement to rewrite the India narrative.”
"A notable 300 nominations received this year is a testament to the growing relevance and maturity of the emerging technologies that need a direction and boost as most founders start well but do not focus on building a solid risk governance policy-led framework. Our community action plan is aligned to guide tech leaders in their growth path," Vaish added.
Addressing the technology integration across smaller Indian cities, he remarked, "While Bengaluru, Delhi NCR, and Mumbai emerged as major hubs for many winners, the notable surge in technology adoption within tier-2 cities, such as Thiruvananthapuram, Bhubaneswar, and Jaipur signals a wider geographical influence, showcasing the expanding reach of technology innovation beyond metropolitan areas."
In a strategic move to acknowledge the transformative journey of tech founders and their ubiquitous influence, this year’s selection therefore reflected a comprehensive evaluation process.
This year, the prestigious “Fast 5” category focussed on outstanding performers across various sectors, featuring notable achievers, such as FarMart Service Pvt. Ltd, Mensa Brand Technologies Pvt. Ltd, Redcliffe Lifetech Pvt. Ltd, Saveo Healthtech Pvt Ltd, and KiranaKart Technologies Pvt. Ltd. (Zepto).
Dr. Charan Gurumurthy, Head, of Tata Semiconductor Assembly Test (TSAT), was the guest of honour at the event. The distinguished jury comprised Anoop Menon, Principal – Investments, Chiratae Ventures; Kritika Murugesan, Director, NASSCOM; Anzy Mohammed, Chief Operating Officer, SAP Labs India; and Manoj Kohli, Advisor, Deloitte India. An exclusive masterclass with the jury members was also held, addressing queries on how to welcome investors, refine ideas, anticipate risks, and equip participants with dynamic governance frameworks.
Other key enhancements to the TechFast50 awards included:
- A qualitative emphasis: A pioneering qualitative evaluation process supplements the traditional assessment of quantitative revenue growth metrics, enriching the assessment with a deeper understanding of the unique narratives behind each success story.
- Jury engagement: The selection process was meticulously recrafted, guided by an esteemed jury of industry leaders, adding an extra layer of expertise to recognize and honor outstanding achievements.
- Diverse recognition: To promote inclusivity and acknowledge the diverse impact of technology across sectors, the awards ceremony featured 15 categories, including Sustainability Tech, MarTech, FarmTech, MedTech, HealthTech, FinTech, Manufacturing Tech, and People Tech.