In Conversation with Raj Kumar

“I believe that women entrepreneurs are empathetic and strive to achieve social good through their businesses. That is what drives me to help them achieve their goals by using skills that I have,” says Raj Kumar, Advisor & Mentor at STEP.

Raj feels that female entrepreneurship is lagging due to a lack of opportunities and systematic bias. He thinks that gender parity is a must for the overall development of a country.

Raj Kumar is a Business professional working in the Impact Investments space with experience in business development, fundraising for impact startups, corporate banking, the credit assessment, relationship management, and portfolio management.

An Inspiring Professional Journey

After a degree in Computer Engineering, Rajkumar joined TCS for a year as a software developer. He then shifted to work as a scientist at ISRO where he worked for almost four years. He was a part of the celebrated MARS Mission.

“It was an exhilarating experience, as we had to work hard to meet deadlines. I also met many interesting people and learned a lot,” he adds, nostalgically.

He left ISRO to pursue his post-graduation at IIM, Lucknow.

“The two years at IIM were well-spent in making great connections,” he says.

Post IIM, he worked at an agri-tech startup in Bangalore and then joined the IndusInd Bank as an Impact Financing associate.

Raj now works full-time at Yunus Social Business,a business fund started by Nobel Prize Laureate Prof. Mohd.Yunus. He also works with a couple of impact funds. He is also working with various startups, and his varied experiences make him a befitting advisor.

“The transitions happened as a part of my journey as I love to learn new things. My diverse experiences define me and have evolved my thinking process,” he adds.

Advice to social entrepreneurs

Raj is working in the Impact Investments space and shared his insights for social entrepreneurs to attract Impact Investors. 

• Impact goals should be measurable, realistic, and clear-cut.
• Integration of the cause with the commercial business model is a must.
• The Business model must be sustainable.
• The skills of management and founders must be complementary.
• The team should have the calibre to execute the project.

Identifying the right product-market-fit to scale businesses

“Entrepreneurs need to do their homework before starting their businesses,” Rajkumar asserts. His tips to entrepreneurs are:

• Before starting, entrepreneurs must identify suitable targets, stakeholders, and a business model for their startup.
• To earn revenues, they must define the value proposition of each of their stakeholders.
• The product or service must be designed to meet the needs of the stakeholders.
• A well-defined marketing strategy that caters to different customer segments is a prerequisite.
• Optimal use of resources and time is necessary.

Experience as a mentor and advisor at STEP

Raj has been a mentor and advisor at STEP since its inception. He also plays a vital role in the selection of applications for the cohort.

“The selection process is difficult as we have to choose very few startups out of hundreds of applications,” he says.

Raj has been a part of the journey of many of the founders he has mentored.

He was also a part of the jury at the WINGS Challenge organised by STEP.

Talking about the event, Raj says, “I was impressed with the bright and innovative participants. It was a laudable event by STEP.“

Advice to Women Entrepreneurs

Raj advises founders to have a firm belief in their ideas. “Some ideas may not work in the beginning. Keep going and do not quit,” he advises.

He believes that empathy is vital for entrepreneurs.

“If an entrepreneur is unable to understand the problems of his employees and customers, or does not integrate them in the revenue and profitability model, their organization might not sustain in the years to come,” he adds.

Raj has worked with various agri-tech startups. He advises agri-tech founders to follow a mix of physical and technology models.

“A totally tech-based model might not work in the rural areas,” he says.

While working in this segment, entrepreneurs must be prepared to deal with the Government ecosystem, as it is very active in the rural areas.

Raj Kumar, the person

Raj Kumar is a soft-spoken and empathetic person. He loves reading. ”Gut” by Giulia Enders is his favourite book. Raj prefers hills and rivers to beaches. He wants to visit Germany, shortly. A quote that is the mantra of his life is “Your determination defines you. Keep it unwavering, and you can achieve anything.”