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February 2022 marked the start of the tenure of a new managing director and chief executive officer at Punjab National Bank, a critical position in the wake of the bank’s challenges, including a massive instance of fraud and challenges associated with the bank's amalgamation with the United Bank of India and Oriental Bank of Commerce in 2020. With over three decades of experience leading other public sector banks, the new leader embarked on the mission to restore the bank’s 128-year legacy. Faced with the daunting task of restoring the bank’s former reputation and glory, he explored strategies for implementing a comprehensive plan to bring Punjab National Bank back on the track of sustainable growth. Which strategy would reshape the bank’s trajectory and ensure sustainable growth while also reviving the bank's legacy and heritage?

Mamaearth was founded by husband-and-wife duo Varun and Ghazal Alagh in 2016. The core value proposition of Mamaearth's offer focused on toxin-free, safe products based on natural ingredients, which resonated strongly with its target audience. Despite operating in a tough and competitive industry with many large, established global and Indian companies, Mamaearth had been able to build a strong presence in the market and achieve unicorn status in 2022. One remarkable aspect of the firm's growth had been that it was one of the few unicorns that-along with strong top-line growth-had a positive bottom line and had turned profitable in the previous two years. This early success gave founders and investors the confidence to plan their next move, which was to issue an initial public offering (IPO) at a valuation of $3 billion in 2023. But the IPO was planned at a time when there was a marked downturn in funding in the start-up ecosystem. Further, the post-listing performance of some of the other celebrated unicorns had been less than satisfactory, resulting in heavy losses for investors. Therefore, many unicorn firms that had been planning IPOs had deferred their plans. Facing the possibility of such a poor scenario, should Mamaearth move ahead with its IPO, defer in anticipation of a more opportune time, or find alternative means of raising funds?

In this article, the authors argue that too much risk capital supporting innovation goes to apps, gadgets, and digital conveniences, as funders increasingly look for easy, low-risk returns and often lack the know-how to evaluate ventures with more ambitious scientific and technical goals. This needs to change if technology is going to fulfill its promise of a better world for all. Corporate venture capitalists are well positioned to do more to help innovators survive the challenges of scaling.

People in Yemen faced several challenges such as lack of food, water, electricity, or proper hygiene and sanitation. Distressed by the challenges faced by the Yemenis, Iman Hadi (Hadi) set up Friends of the Environment Station (FOES) solar micro-grid station in Abs district in the Hajjah governorate in Yemen backed by the United Nations Development Programme’s (UNDP). In 2021, Hadi planned to scale up her solar project in other rural districts of Yemen where 47 families had no access to electricity. Going forward, she also had ambitious plans to launch a large solar power plant to provide solar electricity to nearly 3,060 households in the Al-Ghadi area in Yemen. How would Hadi scale up her solar project to other districts in Yemen?

In October 2023, FIGS had revolutionized the medical scrubs industry with its fashionable and functional designs, but the venture was at a critical juncture. The digitally native vertical brand (DNVB) had gone public in a successful IPO in 2021 and reached $500 million in revenue in 2022. Investors had dubbed FIGS the "Lululemon of healthcare apparel." However, by 2023, FIGS was facing slowing growth, significant margin pressure, and a radical share price decline, exacerbated by macroeconomic headwinds and increasing competition. In response, CEO Catherine "Trina" Spear, who was also a co-founder, was contemplating three strategic growth initiatives to bolster FIGS' competitive position: expanding international presence, targeting healthcare institutions (a move into B2B), and establishing retail stores. Each avenue of growth held potential. International was a large market opportunity, B2B could unlock a stable new revenue stream, and retail stores offered brand visibility and synergy with the online experience. Spear had to decide whether FIGS's small team should pursue one or more of these opportunities, and, if so, whether to pursue them concurrently or with a phased approach.

People in Yemen faced several challenges such as lack of food, water, electricity, or proper hygiene and sanitation. Distressed by the challenges faced by the Yemenis, Iman Hadi (Hadi) set up Friends of the Environment Station (FOES) solar micro-grid station in Abs district in the Hajjah governorate in Yemen backed by the United Nations Development Programme's (UNDP). In 2021, Hadi planned to scale up her solar project in other rural districts of Yemen where 47 families had no access to electricity. Going forward, she also had ambitious plans to launch a large solar power plant to provide solar electricity to nearly 3,060 households in the Al-Ghadi area in Yemen. How would Hadi scale up her solar project to other districts in Yemen?

This case delves into the entrepreneurial journey of Madhav Krishna and his company, Vahan. Initially focused on providing speech recognition tools for English learning in skilling centers, Vahan undergoes several pivots as a platform for blue-collar employment. The case underscores iterative venture development, learning and pivoting, user-data responsiveness, platform adoption (like WhatsApp), distribution partners for scaling, and the nuances of business-model fit in India's evolving internet landscape in a blue-collar space.

In May 2018 the Norwegian Government introduced new requirements for emissions-free entry into the Geirangerfjord and Nærøyfjord fjords, a UNESCO World Heritage site, making them the world's first zero-emission zones at sea. For Knut Flakk, CEO and owner of Norway's Flakk Group, it was a watershed moment. Norway and sustainability had a complicated relationship. On the one hand, the country was a pioneer in the use of renewable energy. Almost 90% of the power network ran entirely on clean hydroelectricity and Norwegian policymakers had begun to support electric vehicles as early as 1990. As a result, Norway boasted the highest per capita share of EVs in the world. On the other hand, Norway's huge oil and gas reserves had made the country extremely wealthy. And while many people were now focused on reducing their carbon footprint and being energy-efficient, Knut had a bigger picture in mind, saying "I'm more interested in being climate-positive, with renewable sources. Hydrogen is a zero-emission energy carrier that can be used for boats, trains and planes."

In May 2018 the Norwegian Government introduced new requirements for emissions-free entry into the Geirangerfjord and Nærøyfjord fjords, a UNESCO World Heritage site, making them the world's first zero-emission zones at sea. For Knut Flakk, CEO and owner of Norway's Flakk Group, it was a watershed moment. Norway and sustainability had a complicated relationship. On the one hand, the country was a pioneer in the use of renewable energy. Almost 90% of the power network ran entirely on clean hydroelectricity and Norwegian policymakers had begun to support electric vehicles as early as 1990. As a result, Norway boasted the highest per capita share of EVs in the world. On the other hand, Norway's huge oil and gas reserves had made the country extremely wealthy. And while many people were now focused on reducing their carbon footprint and being energy-efficient, Knut had a bigger picture in mind, saying "I'm more interested in being climate-positive, with renewable sources. Hydrogen is a zero-emission energy carrier that can be used for boats, trains and planes."

STEPN was a one-year-old lifestyle app designed to incentivize routine physical activities like walking, jogging, and running by providing individual financial rewards for participants. The app was part of the move-to-earn (M2E) category of blockchain games. Within a short time, STEPN had established an exceptional track record of both financial performance and enterprise valuation and had achieved unicorn status. However, by January 2023, the Web 3 app was on the verge of being caught in what was known in the world of blockchain games as a death spiral. The prices of its flagship product and its exchange medium were both dropping, and the company's net profits were also in decline. The co-founders needed to determine not only how to head off a death spiral in the short run but also how to sustain the business in the long run.

Fusion energy is evolving from a scientific idea to a commercial possibility, drawing large investments and regulatory discussions; how should the FIA navigate this evolution? The Fusion Industry Association (FIA) is at the forefront of transforming fusion energy from a scientific concept to a booming industry. This shift, marked by significant investments and legislative interest, faces challenges in technology, funding, and regulation. Key topics include fusion's technical background, and the association's role in industry growth. Ongoing debates include questions surrounding continued investment, supply chain issues, technological diversity, and the geopolitics that are a practical part of the global energy landscape.

 For over two decades, Paul Delp, the President of Lansdale Warehouse, had faced a daunting challenge; the Stony Creek rail line, which provided rail service to his warehousing business in Lansdale, Pennsylvania (PA), USA, had suffered from deteriorating track conditions and poor service. These issues resulted in delayed and disrupted shipments, lost customers, increased costs, and a decline in customer satisfaction, causing Delp to fear for the viability of his business. Despite several efforts, Delp had struggled to gain the attention of the two Class I railroad companies that jointly owned the rail line to his facility. With over 60 years of business under his belt, Delp faced one of his most significant challenges yet—finding a solution to keep his business afloat.

In 2022, ToyBox Education Project sought to empower families to grow literacy, numeracy, and wellness starting at home. Based in Winnipeg, Canada, ToyBox Education Project provided an opportunity for students at the undergraduate and graduate level to complete several strategic assessments of a social enterprise within a post-secondary institution. The Faculty of Education at the University of Winnipeg had developed a number of tools to assist caregivers of children between ages two and eight to support their academic (i.e., literacy and numeracy) and social (i.e., wellness) development. The faculty received operational and research funding for three years. However, ToyBox Education Project had to find a financial model for long-term sustainability as well as develop its own capabilities to deliver its products and services.

The bindi brand Pearl Eyeflax was marketed by micro organization Payal Novelty Private Limited (PNPL), based in Bhubaneshwar, India. A bindi had rich traditional importance and was historically a critical part of the attire worn by women in India. However, over time the bindi had evolved to become more of a fashion accessory. With the rise of fusion fashion and growing international popularity of the bindi as a fashion accessory, the director of PNPL had to consider how best to showcase the bindi and devise possible branding and segmentation strategies to help the company reach an ambitious sales target of ₹25 million by 2023. What new segments and positioning strategies could PNPL focus on? What kind of branding strategies would spur growth? And should PNPL position the bindi as a cultural product or a fashion accessory?

This case follows the situation arising from the unprecedented circumstances of COVID-19, which forced the Eastern Mindfulness company to transition the business from physical to virtual interactions. Mr. Alok Taunk had successfully started Eastern Mindfulness, which offered interactive and engaging seminars, online courses, and mobile applications (MindFeed) that addressed holistic wellness, performance, and self-development. However, because of the unprecedented circumstances of COVID-19, Mr. Taunk had to cancel all his bookings and return to the clients any advances.

Target Malaria, a non-profit research consortium, is exploring the application of CRISPR-Cas9 gene editing technology to combat malaria in Sub-Saharan Africa. Its approach uses gene drives, a revolutionary tool, to suppress the population of malaria-carrying mosquitoes. Although gene drives are 5-10 years from being tested in the wild, Target Malaria's strategy of staged implementation has been driven by a thoughtful, highly regulated, and long pathway. The case describes the complexity and technical intricacies of gene drive technology, the stakeholder and community engagement process, ecological and ethical risks with releasing genetically modified organisms into the wild, and the regulatory structure. Since a gene drive has the potential to alter not just a single organism but an entire species, the case raises critical questions central to the deployment of transformative technologies in public health: How can the global community govern technologies when their effects transcend national borders? What are the potential long-term ecological impacts, and how can they be mitigated? How do you balance risks and benefits of a technology like gene drives, given that malaria kills hundreds of thousands of people (mostly children) every year?

In early 2022, Courtney McColgan, founder and CEO of Runa, a human resources and payroll Software-as-a-Service platform, faced an unexpected tech market downturn. Founded in 2018, Runa catered to small and medium-sized businesses in Mexico, offering an affordable and easy-to-use cloud-based solution. McColgan, a serial entrepreneur from Southern California, firmly believed the platform could disrupt Mexico's vast industry, and become a billion-dollar business. After an initial period of rapid growth during its first 18 months of operations, and amidst hiring a new executive team, Runa's growth began to falter as attracting new clients became increasingly hard, and customer acquisition costs increased. In August 2021, Runa raised more funds amidst an unprecedented expansion in venture capital investment in Latin America, and it deployed additional marketing strategies and developed new products to entice customers. However, by early 2022, the venture scenario grew gloomier, and tech companies began to take cautionary measures. How should Runa adapt to a potentially more limited funding scenario and perhaps even less favorable growth prospects in the short run? Would dramatic structural and strategic changes be needed? Or should McColgan consider shutting down her business and create a new venture?

For over two decades, Paul Delp, the President of Lansdale Warehouse, had faced a daunting challenge; the Stony Creek rail line, which provided rail service to his warehousing business in Lansdale, Pennsylvania (PA), USA, had suffered from deteriorating track conditions and poor service. These issues resulted in delayed and disrupted shipments, lost customers, increased costs, and a decline in customer satisfaction, causing Delp to fear for the viability of his business. Despite several efforts, Delp had struggled to gain the attention of the two Class I railroad companies that jointly owned the rail line to his facility. With over 60 years of business under his belt, Delp faced one of his most significant challenges yet-finding a solution to keep his business afloat.

In 2022, ToyBox Education Project sought to empower families to grow literacy, numeracy, and wellness starting at home. Based in Winnipeg, Canada, ToyBox Education Project provided an opportunity for students at the undergraduate and graduate level to complete several strategic assessments of a social enterprise within a post-secondary institution. The Faculty of Education at the University of Winnipeg had developed a number of tools to assist caregivers of children between ages two and eight to support their academic (i.e., literacy and numeracy) and social (i.e., wellness) development. The faculty received operational and research funding for three years. However, ToyBox Education Project had to find a financial model for long-term sustainability as well as develop its own capabilities to deliver its products and services.

The bindi brand Pearl Eyeflax was marketed by micro organization Payal Novelty Private Limited (PNPL), based in Bhubaneshwar, India. A bindi had rich traditional importance and was historically a critical part of the attire worn by women in India. However, over time the bindi had evolved to become more of a fashion accessory. With the rise of fusion fashion and growing international popularity of the bindi as a fashion accessory, the director of PNPL had to consider how best to showcase the bindi and devise possible branding and segmentation strategies to help the company reach an ambitious sales target of ₹25 million by 2023. What new segments and positioning strategies could PNPL focus on? What kind of branding strategies would spur growth? And should PNPL position the bindi as a cultural product or a fashion accessory?