In Conversation with Pratik and Raj of Neuron Energy

⁠How do you define success?

Raj and Pratik: For Neuron Energy, business success is defined by product sector acceptance and market validation. Sustained employment growth also marks success, whilst staying efficient and PAT positive. Personally, achieving 70-80% of set goals across operations, customer testimonials, and other domains signifies accomplishment. Adaptability and continuous growth are key indicators of success, ensuring we meet market demands while striving for excellence in our endeavours.

What piece of advice that you wish you could have gotten when starting out that you would impart to budding entrepreneurs?

Raj and Pratik: The most critical advice for entrepreneurs is to acknowledge and embrace the inevitable turbulence. Founders must persist with their vision, understanding that the journey will deviate from expectations. Regularly revisiting and realigning goals is essential to adapt to evolving circumstances. This adaptability is key to long-term success in the ever-changing landscape of business.

Describe the major highs or lows of your journey in the early stages.

Raj and Pratik: We did encounter significant number of lows in the early stages of building the company. The lows coincided with covid outbreak and hence the challenges increased significantly. Challenges included supply chain issues, freight issues, random increase in commodity pricing, product failure due to lack of quality suppliers available, Government regulations and inventory management. However, along with the significant lows we did see random highs due to product acceptance and ever-growing order book. The tail winds in the EV Industry ensured we were never depressed about the lows that we faced and we remained persuasive. Our short terms goals ensured there was enough to rejoice about our growth.

Share a memorable success story from the early days that made you feel extremely proud and accomplished.

Raj and Pratik: Neuron initially started with Golf Cart Lead Acid batteries. Neuron tied up with Trielectric in Chennai which was one of the largest sellers of golf carts in India. This association propelled Neuron to cross 10% Market Share in Golf Cart battery segment in India.

Can you recall a significant setback or failure you faced?

Raj and Pratik: We were one of the market leaders in electric rickshaw lead acid battery segment. We had a contract manufacturing partner based out of Haryana. The manufacturer being a foreign entity had to shut down due to covid restrictions and was unable to open the factory due to visa restrictions as most employees of the manufacturer could not come back. The lack of supply ensured Neuron sales order could not be fulfilled. We pivoted to lithium ion in the rickshaw and tried to grow the company. This pivot ensured our growth rate doesn’t get impacted due to segment closure.

Looking back, what has been the most rewarding part of your entrepreneurial journey? How does it make you feel now?

Raj and Pratik: The most rewarding part of the journey has been building a company that provides a platform for wonderful talent. We could build   a company or business which others some value in.

What do you do when you are not at work?

Pratik: When I'm not at work, I enjoy playing golf and watching movies. These activities help me relax and unwind.

What inspired you to start your entrepreneurial journey? How did you feel about the idea initially?

Pratik: I have always been fascinated about building a business from very early days. Being a part of business family ensured I was exposed to many dinner table conversations about Business and nuances of Business. This initial curiosity later met with my educational experience in Illinois, USA. I have always felt excited about starting a company and build on the idea significantly. The idea EV batteries were met with many challenges as it is a new age business with requirement of having in depth knowledge of many aspects of the business.

What kind of impact do you plan to create with Neuron energy?

Raj and Pratik: The impact we aim to create with Neuron Energy is multifaceted. Primarily, through our offering, since we are already in the climateTech space, we strive to significantly reduce carbon emissions and pollution. Additionally, as we grow, our business model evolution and employment opportunities will further contribute to positive environmental and economic outcomes.