Anand Mahindra's visionary approach to incubating innovation and creating value

At the recent FirstCry IPO listing, Mr. Anand Mahindra, Chairman of the Mahindra Group, delivered an inspiring speech where he spoke about the Group's commitment to fostering entrepreneurship and innovation. With a strategic investment in FirstCry through Mahindra Partners, Mr. Mahindra highlighted the significance of cultivating a startup mentality within a large corporation to drive new business growth and create substantial value.

In his speech, Mr. Anand Mahindra shared the remarkable journey of Mahindra Partners, established in 2010 with the aim of nurturing new-age businesses and embracing a culture of entrepreneurship within the Mahindra Group. This initiative marked a bold step towards exploring how large conglomerates can incubate and develop innovative ventures.

Led by Zhooben Bhiwandiwala and Parag Shah, Mahindra Partners was instrumental in transforming various Mahindra ventures, including Mahindra Logistics and Mahindra Accelo, and creating successful new-age companies like Susten. The team's entrepreneurial spirit and relentless focus on value creation have been key to these achievements.

He outlined the company's initial foray into the baby products market with Mom & Me, a direct competitor to Supam’s venture. Recognising the intense competition, Mahindra Partners acquired Baby Oye, soon after, aiming to consolidate its market position.

Impressed by Supam's entrepreneurial acumen and vision, Zhooben suggested a strategic shift. He advocated for a merger with FirstCry, believing it would be more advantageous to collaborate with Supam rather than continue to compete. This decision elevated Mahindra to the position of the largest shareholder in FirstCry.

Mr. Mahindra concluded his remarks by congratulating Supam and his team on their extraordinary achievements, emphasising the immense value they had created for Mahindra, the industry, and India as a whole.