“Indore boasts a vibrant food culture and is often referred to as the food capital of India. The city’s streets, like Chappan and Sarafa, are teeming with small food joints that contribute to the lively food business industry. The competition in Indore’s food sector is known for being ruthless and cutthroat, making it a testing ground for any food business,” he says.
He adds that surviving and thriving in this environment is considered a significant achievement, showcasing the resilience and appeal of the offerings. With that thought, Small Industries Development Bank of India (SIDBI), in association with The Economic Times, is starting a series of events nationwide that will bring together micro, small & medium enterprises (MSMEs), policymakers and ecosystem enablers. The Conclave is kicking off in Indore on January 9, 2024.
To register click for the Indore conclave, click here.
Dubey and his co-founder Anand Nayak had to strategically play their cards right to drive a thriving business. The duo started the company in 2016 with their first ever food item being Chocolate Chai. Dubey explains that given their primary target audience was students, and being students themselves, they particularly chose locations such as Bhawarkuwa and Geeta Bhawan for their initial outlets.
“These areas were known for their vibrant student-run markets. Starting with an affordable pricing strategy at just Rs 7.00, we recognised the potential to cater to the student population, which is significant in Indore due to the presence of prestigious institutions like IITs and IIMs,” he says.Several such examples highlight the diversity and popularity of small food businesses in Indore, ranging from street food vendors to specialised eateries. The CEO also points out that while Indore has a rich tradition of traditional food businesses, there is a noticeable trend towards embracing technology in the food sector.
“A new wave of food tech startups is emerging, and these ventures are wider than the traditional brick-and-mortar model. Instead, they are leveraging the online space to reach a wider audience.
These innovative food tech startups are reshaping how people experience and access food in Indore. Whether through online delivery platforms, virtual kitchens, or unique digital solutions, these startups are adapting to the changing consumer preferences and the digital landscape,” he says.
This shift certainly reflects a dynamic evolution in the food industry in Indore, where entrepreneurs are exploring innovative ways to connect with their customers and enhance their overall dining experience.
The ET SIDBI MSME Conclave aims to connect such entrepreneurs and small businesses and help them scale. The objective is to catalyse the next wave of growth opportunities, foster knowledge exchange, enable networking and help to tackle challenges for sustainable growth in Indian MSMEs.
