Home improvement has emerged as the most significant trend across market segments, the key drivers being heightened concerns of safety & hygiene and the work-from-home imperative. And the industry is inviting start-ups to disrupt the home improvement business.
The Indian home improvement (also referred to as home and living) market is estimated at $25 – $28 billion, with furniture accounting for about 50 per cent. Nodal foreign investment agency Invest India valued the Indian furniture market at $17.4 billion in FY21. It predicts it will reach $37.7 billion by 2026, growing at double-digit CAGR of 13.37% during 2020-2026 on the back of robust housing demand and steady urbanisation.
The category is vast, offering opportunities across multiple segments from paints and finishes to furniture, tiles, fittings and many other products.
The industry presents an immense opportunity for start-ups and innovators to develop and deploy innovative solutions, both as standalone businesses or in partnership with existing players. This may include, but not restricted to, areas like manufacturing, contracting, retail, customer experience, logistics, communication, or skill development. All aspects of the business need to be innovated so that overall industry can grow faster.
Livspace, Homelane, Finemake, Prolance, Design Café, Onsite, Trezi, etc are among the funded start-ups that have achieved success in their efforts to transform the business.
India Kitchen Congress is the annual conference for the modular kitchen, cabinetry and the larger home improvement industry. This flagship event is attended by over 200 delegates representing the entire industry. At IKC start-ups can get feedback from captains of the industry, get insights from other start-ups who’ve already been there, and get discovered by potential investors.
So if you are a start-up or innovator with a solution for the industry, apply for the program and get an opportunity to present at the India Kitchen Congress (IKC) 2023, to be held on April 6 at Delhi.
Register yourself on Start-up India and apply here – https://lnkd.in/ducE4MnS