The Nalanda Symposium is a monthly online lecture series showcasing scholars from diverse disciplines who share their research, insights, and expertise.
Gaurav Somwanshi’s (Co-Founder & CEO, EmerTech Innovations, MBA, IIM Lucknow) lecture detailed his journey in education and startups, beginning with his MBA from IIM Lucknow. His experiences include teaching, founding an NGO, and launching an ed-tech startup, which ultimately failed but taught him vital lessons about market validation and funding cycles. As a consultant for the Chhattisgarh government, he digitized over 160 government schemes and implemented blockchain technology for land records and direct benefit transfers, enhancing transparency and reducing inefficiencies.
- The journey from MBA to startup founder — including a failed ed-tech venture
- How blockchain transformed governance in Chhattisgarh’s public schemes
- Using QR codes and supply chain digitization to empower farmers
- Why entrepreneurs must align solutions with real-world problems
- The importance of adaptability, collaboration and understanding funding cycles
Building with Blockchain: Startups, Failures and Real-World Impact
Blockchain for Governance and Agriculture
Gaurav highlighted the use of blockchain to address challenges like fraudulent accounts and inefficient data sharing among government departments, conducting hackathons and collaborating with international experts to promote its adoption. He also worked with Sahyadri Farms to develop QR code systems for supply chain transparency, digitized cotton supply chains, and created financial tools for farmers.
Resilience, Advocacy and the Entrepreneurial Mindset
Despite facing financial and operational challenges, including the departure of co-founders, Gaurav restarted his ventures by forming new partnerships and exploring blockchain applications in areas like solar panel traceability. He actively engaged in outreach and advocacy, conducting global workshops to raise awareness about blockchain and IoT, and authored articles and books in regional languages to make technology more accessible.
Lessons for Aspiring Entrepreneurs
His core messages for entrepreneurs emphasize the importance of aligning solutions with real-world problems, being adaptable in the face of challenges, and applying technology equitably. Gaurav encourages continuous learning to keep pace with emerging technologies and stresses the value of collaborative solution-building with domain experts to ensure long-term impact. Understanding market dynamics and funding cycles is crucial for sustaining innovation.
