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On January 3, 2017, the principal investigator at the Biomedical Engineering and Technology Innovation Centre (BETIC), in India's Indian Institute of Technology Bombay was considering the next steps for a newly developed product. BETIC was a multi-disciplinary and multi-institutional translational research and development network in the medical technology sector that acted as a running partner for innovators and entrepreneurs. The core vision of BETIC was to create global success stories of indigenous medical devices by providing systematic guidance and support to innovators developing medical devices. The principal investigator and his team had developed an indigenous and innovative smart stethoscope from the ideation stage to a functional prototype. The next critical challenge was how to commercialize the product and ensure that it could deliver the maximum amount of social impact.

Amazon.com, Inc. (Amazon) India expanded Amazon Food into the food delivery market in March 2021 amid a pandemic and the ensuing lockdown. The move surprised the industry, especially considering that Swiggy and Zomato Ltd. (Zomato), the two key players in the food delivery business, were facing an all-time slump and that restaurants were seeking to move away from aggregators to create their own ordering platform. Zomato and Swiggy, a duopoly in the food service aggregator (FSA) space in the country, had been struggling to keep cash burn low, squeezing delivery-executive commissions, executing mass layoffs, and scaling down profit-draining cloud kitchens. Although the timing of the launch appeared risky, Amazon India's confidence to take on the established players and challenge the status quo stemmed from its size, reach, resources, technological prowess, reliability, trust, and goodwill. In a market scenario where safety and hygiene standards were set to change forever and the odds were stacked against FSAs, the industry and consumers were expecting a tough battle. Amazon had to reassess whether its strengths would be adequate to help it make satisfactory inroads into the industry, confront the obstacles, and overcome the ongoing slump and make good on its decision to be the new entrant when the established players were bearing the brunt of not only the pandemic but also a deeply divided restaurant industry.

Harambe was a non-profit organization whose mission was to build an ecosystem to identify promising young African entrepreneurs and provide them access to training, markets, capital, and support networks. From 2007 to 2021, Harambe had grown to a network of 367 entrepreneurs, known as "Harambeans". They had collectively raised over $800 million in capital, created more than 3,500 jobs, and claimed three of the six African startup unicorns in 2021. There was mounting pressure for Harambe to evolve to take advantage of its momentum, the changing entrepreneurship landscape in Africa, and increasing investor interest. Given this, Okendo Lewis-Gayle, founder and chairman, pondered the next steps for Harambe to maximize its impact in Africa. He considered three options: scale the current non-profit model, pivot to a for-profit venture capital model, or develop a hybrid model with a non-profit and a for-profit investment arm. Another important question was, "How should Harambe define impact?"

In 2018, the founder of Swift Mobility in Nakuru, Kenya, Africa was considering her options for the future of her company, which was a Safaricom Plc dealership. The founder was reflecting on how much her business had progressed in the past ten years and wondering if this was the right time to expand or invest in the company’s future. She had just spoken with the property owner of a potential new store in Mombasa, Kenya, but was also considering other options. In addition to potentially expanding to a new location, the founder could choose to invest further to grow her current operation, or sell the business and exit the highly competitive telecommunications industry in favour of a more moderate lifestyle. Which option would be her best path forward?

Bubble was a software company in the low-code/no-code market, making tools that allowed users without traditional programming backgrounds or technical skills to build software. The case covers cofounder Joshua Haas's engineering background, as he experienced a high demand for coding expertise in the startup community, but a low supply of coders. It then outlines his founding, with cofounder Emmanuel Straschnov, of Bubble in 2012, and their subsequent bootstrapping for six years until 2018, when a well-known tech entrepreneur and angel investor offered them an attractive financing deal. The case covers Bubble's product-led growth, or a singular focus on the product (as opposed to investing in sales and marketing) as a strategy for user acquisition and retention. The case also covers the difficulties of hiring new employees, and Bubble's strategy for building a team.

Set in early 2021, this case is about Kino Biotech, a Singapore-based company producing health and beauty products, most notably its flagship brand, Kinohimitsu. Its operations and distribution have expanded globally, especially to Malaysia, Indonesia, and China. In April 2018, Kino Biotech launched a spin-off company called Kinofy to leverage its cross-border commerce license and digital business experience of operating in China. Kinofy provides consulting solutions to Singapore and international companies that want to enter China. Kinofy is also pivotal in building a cross-border e-commerce platform where the collective intelligence can be accumulated when more Singapore and international firms enrol. By following the journey of Kino Biotech and Kinofy from their start and through several critical transformations across three decades, this case enables a rich discussion on how firms manage strategic change, internationalisation, and digital transformation.

Neons Fashion LLP was the entrepreneurial venture of Arthi Ramalingam after she completed her MBA. Arthi had been interested in jewellery since childhood and decided to focus on the design, manufacturing and retailing of fashion and costume jewellery items under the brand name of Eternz through different sales channels like exhibitions, retail stores, own website and as an independent seller on e-commerce marketplaces. She initially started selling on Amazon marketplace through a third party, Cloudtail India Pvt. Ltd and later sold through other e-commerce marketplace operators like Flipkart, Jabong and FirstCry. As her business grew, Arthi planned to add the kids' shoes category and decided to participate in the Bangalore Fashion Week to build the Eternz brand. However, in November 2016, Cloudtail terminated her contract, which played havoc with the sales and profitability of her start-up. Neons Fashion LLP (A) provides details of how independent sellers are at the mercy of marketplace operators and ends with the need to review the choices of sales channels for different categories like fashion garments and fashion accessories and for the upcoming launch of kids' shoes.

Neons Fashion LLP was the entrepreneurial venture of Arthi Ramalingam after she completed her MBA. Arthi had been interested in jewellery since childhood and decided to focus on the design, manufacturing and retailing of fashion and costume jewellery items under the brand name of Eternz through different sales channels like exhibitions, retail stores, own website and as an independent seller on e-commerce marketplaces. She initially started selling on Amazon marketplace through a third party, Cloudtail India Pvt. Ltd and later sold through other e-commerce marketplace operators like Flipkart, Jabong and FirstCry. As her business grew, Arthi planned to add the kids' shoes category and decided to participate in the Bangalore Fashion Week to build the Eternz brand. However, in November 2016, Cloudtail terminated her contract, which played havoc with the sales and profitability of her start-up. Neons Fashion LLP (B) describes the events after the Bangalore Fashion Week that ultimately led to the closure of business.

The chief executive officer of Zoomcar, an Indian car-rental company, had recognized that the costs of vehicle ownership were high for many individuals who needed vehicles only sporadically. The venture capital-funded, entrepreneur-driven business had launched in 2013, gone through three changes in its business model between 2016 and 2019, and identified a gap in the market with adequate demand to be fulfilled. Having adjusted its business model twice to circumvent the issue of supply, in 2020 it believed that it had identified the perfect product-market fit that would solve consumers’ concerns over owning versus hiring vehicles. The business's shared-mobility model would allow customers to reduce the total cost of vehicle ownership by offering their vehicles for short-term hires to other users on the Zoomcar platform. Now, it needed to resolve three issues: First, how could it get more cars on the platform? Second, even if it had the cars, how could it get people to adapt to a shared-mobility ecosystem? Third, how could it manage all of this while maintaining viable unit economics and ensuring long-term profitability?

Droom Technology Private Limited (Droom), a used-automobile marketplace platform based in India, had identified a big-ticket item with an average selling price of ₹200,000–₹600,000 and harnessed its innovative technology to build an online ecosystem. In doing so, it had stayed clear of inventory management by following a marketplace model like that used by Flipkart Internet Private Ltd. and Amazon.com, Inc. in India, bringing all participants—including used-vehicle dealers, individual buyers and sellers, and financiers—into the online marketplace. Subsequently, Droom created functional, monetary, time, and psychic values for its customers through its various automobile inspection, valuation, records search, insurance, and other services. Droom went from having a single revenue source to having six independent revenue sources through its subsidiaries, which each offered a unique combination of values and collectively created a tough barrier for competitors to penetrate. By April 2020, the start-up had enjoyed some success, but looking to increase its growth, it faced some questions: Was it offering too much for too little? Was its pricing justified by the value offered? Were its performance metrics commensurate with the value provided? Finally, what strategy would successfully shift Droom from a hybrid to a completely online model ready for listing on the Nasdaq exchange?

The chief executive officer of Zoomcar, an Indian car-rental company, had recognized that the costs of vehicle ownership were high for many individuals who needed vehicles only sporadically. The venture capital-funded, entrepreneur-driven business had launched in 2013, gone through three changes in its business model between 2016 and 2019, and identified a gap in the market with adequate demand to be fulfilled. Having adjusted its business model twice to circumvent the issue of supply, in 2020 it believed that it had identified the perfect product-market fit that would solve consumers' concerns over owning versus hiring vehicles. The business's shared-mobility model would allow customers to reduce the total cost of vehicle ownership by offering their vehicles for short-term hires to other users on the Zoomcar platform. Now, it needed to resolve three issues: First, how could it get more cars on the platform? Second, even if it had the cars, how could it get people to adapt to a shared-mobility ecosystem? Third, how could it manage all of this while maintaining viable unit economics and ensuring long-term profitability?

In 2018, the founder of Swift Mobility in Nakuru, Kenya, Africa was considering her options for the future of her company, which was a Safaricom Plc dealership. The founder was reflecting on how much her business had progressed in the past ten years and wondering if this was the right time to expand or invest in the company's future. She had just spoken with the property owner of a potential new store in Mombasa, Kenya, but was also considering other options. In addition to potentially expanding to a new location, the founder could choose to invest further to grow her current operation, or sell the business and exit the highly competitive telecommunications industry in favour of a more moderate lifestyle. Which option would be her best path forward?

Droom Technology Private Limited (Droom), a used-automobile marketplace platform based in India, had identified a big-ticket item with an average selling price of ₹200,000-₹600,000 and harnessed its innovative technology to build an online ecosystem. In doing so, it had stayed clear of inventory management by following a marketplace model like that used by Flipkart Internet Private Ltd. and Amazon.com, Inc. in India, bringing all participants-including used-vehicle dealers, individual buyers and sellers, and financiers-into the online marketplace. Subsequently, Droom created functional, monetary, time, and psychic values for its customers through its various automobile inspection, valuation, records search, insurance, and other services. Droom went from having a single revenue source to having six independent revenue sources through its subsidiaries, which each offered a unique combination of values and collectively created a tough barrier for competitors to penetrate. By April 2020, the start-up had enjoyed some success, but looking to increase its growth, it faced some questions: Was it offering too much for too little? Was its pricing justified by the value offered? Were its performance metrics commensurate with the value provided? Finally, what strategy would successfully shift Droom from a hybrid to a completely online model ready for listing on the Nasdaq exchange?

The subscription box e-commerce industry has experienced tremendous growth over the last 5 years. Given the growing size of the industry, this business model warrants the close attention of firms currently offering subscription services as well as companies considering entering this industry. This article presents a detailed overview of the subscription box industry and proposes a framework - the four Cs - for understanding subscription offerings. It identifies challenges and opportunities facing this industry, and it provides managers with guidance in the form of five tenets on how to navigate the subscription box economy.

Rappi Inc. (Rappi) was an on-demand delivery mobile application (app) that allowed users in Latin America to shop online for groceries, meals, and other products and have these delivered to them. It also provided various other services, such as cash withdrawals and dog walking. Rappi was founded in 2015, and in less than five years, it had evolved from operating in improvised headquarters in a parking lot in Bogotá to becoming a member of an exclusive club of technological start-ups valued at more than US$3.5 billion.<br><br>In 2021, although the situation was highly favourable for Rappi, it still faced major challenges to consolidate as a technology firm that would make life easier for its users. The question for Rappi now was how to continue its growth path in order to become the leading super app for Latin America.<br><br><br>Enrique Ramírez R. and Andrés Gonzalez R. are affiliated with Universidad ICESI.<br>

The Berlin-based start-up, Lytt, was founded in late 2019 with the aim of offering employees a means to speak up about misconduct at work through a digital assistant, which enabled them to communicate difficult topics safely and anonymously. Lytt wanted to help companies understand their working climate and sustainably promote their employees’ satisfaction and health. In August 2020, the owners of Lytt had to develop the right go-to-market strategy, keeping in mind the potential impact of the COVID-19 pandemic on their decisions.

HSBC Commercial Banking was a key business for HSBC Holdings plc, contributing one-third of the bank’s profit in 2019. In 2016, the regional head of Commercial Banking, Asia Pacific, began initiating a series of open innovation programs in Hong Kong. The programs aimed to embrace collaboration in the innovation and technology ecosystem to co-create value for Commercial Banking’s small and medium-sized customers.<br><br>Now, in 2020, the regional head of Commercial Banking and his innovation team leader were discussing their innovation initiatives. They reviewed what they had achieved in the last four years. What value had they created for not just the small- and medium-sized customers but also the ecosystem stakeholders? What challenges had they met, and how well had they resolved these? Had the proper culture and talents been in place to meet these challenges? Had they measured the performance of the team properly to keep their colleagues motivated about sustainable innovation? They also explored a few critical areas for future growth. The regional head of Commercial Banking wondered what more they could do in Hong Kong, and how they could replicate the success they had achieved in Hong Kong in other emerging markets in Asia.

Bühler Group, a Swiss multinational processing technology provider, started by selling machines for processing grains and later transitioned into selling food processing solutions. A family-owned business in the fifth generation, Bühler's high-end milling, grinding, sorting, and die-casting machines and its process engineering and services expertise were respected by the world's largest players in the food, feed, and automotive industries. The firm's purpose was formalized in 2010 under the slogan 'Innovations for a Better World.' With the establishment of its purpose, the firm began to transform itself from a quiet technology leader to a vocal advocate for innovation, education, and sustainability in its industry, a substantial challenge for a privately held Swiss company with CHF 3 billion ($3.2 bn) revenue. Though Bühler had nurtured its long-term partnerships with customers, the firm struggled to bring about a deeper embrace of sustainability across its customers' value chains, which it considered necessary. In 2016, the firm introduced the Bühler Networking Days conference as a platform to facilitate a dialogue on innovation, sustainability, and education in the industry. The event aimed to change the firm's one-on-one interactions with customers into a public and multilateral engagement. While planning the Networking Days 2022 conference, the firm's leadership wondered how they could use the forum to inspire others in the industry to commit to concrete outcomes. Besides, had Bühler done enough to embed sustainability in its internal and external innovation ecosystem? How should the firm measure impact and see whether the efforts made so far were simply incremental or collectively enough for Bühler to be a truly purpose-led firm?

MAYA Capital co-founders Lara Lemann and Monica Saggioro raised $41.5 million through a series of closings for their early-stage Latin American venture capital fund. The two women had met for the first time in mid-2016 when Lemann was contemplating scaling her angel investing experience by structuring a fund, and Saggioro was about to start her MBA program at Harvard Business School. After founding MAYA in 2018, the pair built an investment portfolio in sector-agnostic investments across the region, providing startup founders with an on-demand, hands-on management support approach. MAYA also initiated a series of creative efforts to help develop its venture ecosystem and to source opportunities. By 2021, Lemann and Saggioro had invested approximately $21 million in 28 companies, with several completing subsequent follow-on rounds of financing to support their growth. By then, Latin America´s VC market size had more than doubled since MAYA´s inception, with escalating competition among local players. Lemann and Saggioro faced several important decisions: When should they raise another fund? How large should the next fund be? Should they alter their investment strategy? And as MAYA expanded its portfolio, would they be able to sustain their hands-on management support strategy?