Hardik Kedia

You decided to study at IE because you felt that you shared values with the institution.

Yes. Some of those values include entrepreneurship as one of the main values because IE is all about shaping entrepreneurs. I could feel the entrepreneurial spirit every day at IE, whether it was in the classroom, with the professors, in the clubs, or any other activities that happened on a day-to-day basis. That drive and enthusiasm were always present.

How would you define your experience at IE in one word?

I would say it is “fulfilling.” By the end of the day, when I completed my program, I felt so content about what I had achieved. It had been a very overwhelming experience, but I feel very satisfied and fulfilled with the experience overall.

What is your favorite memory from your time at IE?

I did this project at IE where we made a 60ft wall of neon signs in different languages for the cafeteria. We reached out to the architect of the IE tower and proposed the idea of having greetings in different languages to promote inclusivity. When people from different nationalities see their language represented, they feel included and connected. The university was very happy with the idea, and it was well-received. Many professors and friends thanked me because it moved them emotionally to see their culture represented. That must be my best memory yet.

What is the one thing you wish you knew when you were a student at? IE.

I wasn’t really good at managing my time. It was a very sharp learning curve for me, to multitask and manage my time and to prioritize things. I think as students, we are always trying to do everything and all at once. I think I should have set my priorities straight and know that it's okay to sometimes miss out on things. I should have known that beforehand, it's okay to lose out on certain things or miss out something because you really can't do everything right. I think now I've sort of realized it, but studying at IE I was not really sure about that.

Can you tell us about the challenges that you faced after you graduated? And how did the program help you overcome these challenges?

One of the main challenges was that I always thought that I should do everything, that everything must come from me as a founder. I used to think that I should manage the operation, the finance, the social media marketing, everything would require my input. But again, I learned the hard way that I needed to hire people, a good team to allocate tasks and assign responsibilities so that I can focus more on scaling the brand, and do so faster, because when we try to do all things ourselves things take a lot of time. The thing that would take me six months, nowadays I can do in a week or even a day. Building a good team was one of the main challenges, finding that group of people who share the vision, strongly believe in the brand, and would work for us with that intention.

As a founder, you have to be a good leader, a good listener, and a great team player. And I think that I have mastered that part, and I give the credit to IE because that's where I learned the importance of leadership, teamwork, and management. It was during the Capstone Project when I really learned how to work in a team. It helped me become a good team player, and only the best team players get the chance to become great leaders. It's impossible to run a company and have a group of people who would really want to work with each other and for your company's vision without strong foundational values. I think I built these values at IE.

What's the story behind Neon Attack?

We wanted a neon sign for ourselves while renovating our house. Back in 2020, no one was making neon signs, so it became a DIY project. After a lot of trials and errors, we finally made the product, and it turned out so good that we thought we could bring it to the market. We turned this into a business idea launching a small Instagram store: we posted our products and made stories about them, and we saw good organic traction. This led to converting the project into a full-fledged business with good branding, identity, and a website. That's how Neon Attack started.

Can you walk us through your experience on Shark Tank? What motivated you to apply, and how did you prepare your pitch?

I was a big fan of Shark Tank USA and watched it regularly. Watching the show, my family and I used to discuss what we would say to the sharks and create scenarios in our heads. By the third season, we realized we were ready as a brand. We had achieved a certain scale and revenue, and we had evolved a lot. The application process was long and involved multiple rounds of interviews and auditions, traveling to different cities to pitch our product. It took almost six months, but finally, we got the chance to walk into the tank and pitch in front of the sharks.

Whenever we try to do something, we give our 100% effort and energy. We knew that we had to create the most beautiful setup, we had to have a perfect pitch, and we knew we needed to secure the funding, there wasn't another option. And it really worked out for us because we got the sharks we wanted.

It was a killer pitch, and the staging was well orchestrated with the neon signs lighting up in the right moment to add a dramatic effect to the pitch. 

What was the most challenging aspects of facing the sharks, and how did you play it out to overcome these challenges?

Our biggest challenge was that we had never raised funds before, this was our first investment round. So we had no clarity on what investors seeks from a business. The sharks have a reputation, and they are very specific about certain things. We had to do our bit of research to understand what exactly was that each one of the investors was looking for in a startup. And we had to make our pitch in a way that would reflect the brand values but also resonate with the founders, so they can also feel that this business is investable, can grow exponentially, and give them a return above what they're expecting.

We had been a bootstrapped startup. Other businesses going to the show have already raised funds, or they have reached out to multiple investors in the past. They know what investors want, or how to tackle a specific objection. But for us, it was the first time. So, no matter how much you prepare, you never know enough. That was the biggest challenge for us.

With Shark Tank--I believe most people don't know this about the show--they just show 15 minutes on TV, right? But you are there on stage for at least 90 minutes. In our case, it was almost 120 minutes pitching in front of the sharks, but everything is edited, and they only show 15 minutes. The reality is much bigger, right? And it's a live shooting. You don't get any cuts; you don't get any breaks. It's back-to-back questions and answering all these questions is the biggest challenge.

Another challenge is the valuation and the deal. We went in for a 25-crore valuation (US$ 3 million approximately) and we got that valuation, and it's rare in Shark Tank that you get the deal you asked for. That was incredible, and was also one of the biggest challenges, convincing the investors that your business is worth that much money and to raise funds on that specific valuation.

Your pitch during the show was impressive, and you certainly did a magnificent negotiation round to secure the offer that you were looking for. Could you share some pitching and negotiation tips to young entrepreneurs looking for their first round of investment?

One thing that I suggest is doing enough research. Get to know the investors, you must know what each investor wants from this deal. You must know about their personal life, their professional life, you need to know everything about that investor. I think the biggest mistakes startups are doing is that they're always trying to build the pitch around the product, and they're always trying to push the product and the business to the face of the investor. But that never works. I think when you know exactly how that investor works and what they want, you can draft your pitch deck accordingly so that the business resonates with them.

Another thing that I would want them to know is that investors always vote on founders more than on business. Your personality and your core values as a founder, and what you want to really do with your business have to come across in your pitch. If you are not able to really connect with the investor, they will not invest in you on the basis of your business. No matter whether your business is doing millions of dollars in revenue or has a really good brand; at the end of the day what investors really look for are great founders.

In hindsight, is there anything you would have done differently in your Shark Tank pitch or negotiation?

Honestly, no. I'm a person who feels very strongly that everything happens for a reason. So even when something doesn't turn out the way I expect it to be, I always strongly feel that there has to be some reason for that to happen or not happen.

How will you use the investment that you secured on the show?

The plan that we have right now is starting the international expansion. We have already identified some key markets, such as the Middle East, specifically Dubai and Saudi Arabia, then we have United Kingdom and United States. Our US website will be live very soon. International expansion is something that we are bidding very aggressively on. The second thing is investing on new product innovation. We were the first brand in India to launch an iP67 rated waterproof neon sign, which you can use outdoors. And we were innovators with our trademarked product called Fluoro, which offers a color-changing technology. A lot of money gets invested on research and development. We are also focusing on building a strong team, so a lot of the money is allocated to hiring good talent.

For aspiring entrepreneurs considering applying to Shark Tank, what advice would you give them based on your experience?

Don't just apply for the sake of going to the show, because I know for a lot of brands it's not always favorable to just go there for funding, because sometimes what can happen is that they get a negative experience and not get funding just because they were not ready. Sharks have a reputation of being very aggressive, you need to have answers to every question they make. Only when you feel that you're very confident about your business, you know the market, you know your product, and you’re confident about your sales numbers, I think then you are ready to apply to Shark Tank. And don't just apply, go all-in like we did. Try to make it creatively, try to make it in an attractive way. At the end of the day, it's a TV show, right? Your product, your pitch has to come across as a commercial. And remember that you are not just pitching your product, you're also pitching yourself as a founder, that also needs to come across to the sharks and to the audience. The sharks are just five people, but there are millions of people who are going to watch you and your product on their television or their mobile screens. 

Are entrepreneurs born or made?

I think they are made with the experiences they have achieved over time. When I was pursuing my primary education, I was not thinking of entrepreneurship as something that I would do, I wanted to become a doctor. But then, the sort of experiences that I gained over time—and these can be very small experiences that you gain over time since your childhood, by your personal education and by you work in different jobs—that sum of experiences shaped me to become an entrepreneur. And then there's also my work experience. I had got some learnings about the business world from working in different roles, but there was a point in my life when I realized that I wanted to become an entrepreneur.

Neon Attack’s LED neon signs consume 80% less energy than traditional neon gas signs. With Neon Attack, you have proven that it is possible to be environmentally responsible through ingenuity and innovation, even in a well-established industry like the illuminated signage sector. 

How can entrepreneurs align their business vision with a higher purpose so they can foster positive change, not only in their industry but also in their communities?

This is a very strong foundational point for us. We want to do everything in a sustainable manner, sustainability has been one of our core values. As a person, I am very conscious about sustainability and I always try to make a small impact in my day-to-day life or try to reduce my carbon footprint, so the whole idea came very naturally to my business. When we found out that this industry was undergoing a transition, with traditional neon gas signs that consume so much power being replaced with this new technology that is much more power-efficient, it came naturally to us. And it's not just from a product standpoint; as a business, you will have to make certain changes in your business, whether it's your positioning, your branding, or your packaging, there are different areas where you can contribute in the day-to-day lives of the customer to reduce their own carbon footprint, because nowadays customers are becoming very conscious about their decisions, they know if a brand is actually sustainable and is contributing towards the ecological impact that they have; and I think it's not just a marketing gimmick that brands can play. In reality, real contributions have to be made because customers are very smart, you can never fool them.

We also try to offset our carbon footprint. Let's say you try to use certain products which are not very environmentally friendly. Or, in our case, the neon still consume some electricity, right? So, another thing we can do is advise our customers to do is offset their carbon footprint by planting trees. All these activities we can do not just for marketing buzz, but also because as a founder or as a person, you strongly believe in this idea.

How is the Hardik of today different from the Hardik who graduated from IE?

When I graduated, I used to not delegate the tasks. I used to be someone who thinks that everything should be done by me and all of that. But now, I have matured a lot in terms of how I should work as a CEO, and I think I should not think I have a very different perspective on things. Now I am a much stronger team player.

We always close our interviews with this question: If you had a billboard that you could display to the world, what would you write on it? In your case, we’re going to change it a little bit and ask you: if you have a neon sign, one big enough to show to the entire world, what would you write on it?

Amazing! Of course it can’t be a billboard for me (chuckles.) It has to be a neon sign, an outdoor neon sign big enough which everyone can see.

I am a person who never gives up. And I think, although it’s very cliche, it would say: "Never give up." In the past, a lot of my ideas I couldn’t implement. I wasn't very confident; I wasn't always this person that I am today. I used to give up on a lot of things which I shouldn't have. Neon Attack would have not started if I was also giving up on this idea, and many, many people I know, friends and family, don't even start something because they are very scared to even take the first step; but also many people I know dare to take the first step, and whenever they face a single challenge they just give up, and they just don't continue to pursue their purpose. In our case, no matter how many challenges have come up, I have decided not to give up. So, my neon sign would say "Never Give Up." And it would also be a constant reminder for me to not give up.

And it would be changing colors all the time?

Yes, for sure. It'd be built with our Fluoro technology and have many colors!

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