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The paper aims to understand the process of transfer of agricultural technology, which comprises incubation of the technology business, valuation, evaluation, licensing and commercialization, to examine various dimensions of the process of technology transfer and the effectiveness of transfer object use criteria, to explore ways of sustaining incubation and commercialization through an autonomous unit responsible for technology transfer, to peruse the role of agribusiness incubators in creating an effective agri-entrepreneurship eco-system and to study the factors that promote or inhibit the sustainability of business incubators in an academic or research institution setting.

An innovative technology for production of liquid bio-fertilizers was developed and nurtured to market levels by Anand Agricultural University (AAU), a State Agricultural University in Gujarat. The technology for production of liquid bio-fertilizers, developed during 2009-2010 to 2013-2014 was licensed to some of the state public and private sector undertakings under the World Bank-financed National Agricultural Innovation Project (NAIP) implemented through Indian Council of Agricultural Research (ICAR). For commercializing the technologies from the University, a Business Planning and Development (BPD) Unit was set up at AAU along the lines of a technology transfer office, under the aegis of NAIP during later part of 2009. The NAIP funding from World Bank for BPD Units ceased in June 2014 with closure of the project. With funding no more available, Rajababu V. Vyas, a research scientist at the Microbiology and Bio-fertilizer Department of the University and Head of the BPD Unit, had serious concerns about the BPD unit’s sustainability, as well as sustaining the process of technology transfer from the University.

Anand Agricultural University (AAU), a state-run university in Gujarat, developed and incubated a technology to produce liquid biofertilizer, licensed the technology and marketed its product through a few state-run and private fertilizer firms. The technology was developed between 2009/2010 and 2013/2014 as part of the National Agricultural Innovation Project of the Indian Council of Agricultural Research with funds from the World Bank. A unit to incubate agri-businesses, referred to as Business Planning and Development Unit (BPDU), was set up in late 2009 to expedite the process of technology transfer from AAU to agribusiness firms. Rajababu V. Vyas, a research scientist at the Microbiology and Bio-fertilizer Department of the university, was concerned about the unit’s sustainability, because funding from the World Bank had ceased from June 2014, and wondered how to sustain the transfer of technology from the laboratory to the field in the light of the data available to him.

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Entrepreneurship

The case presents an ideal platform for discussing the branding strategy, brand elements and the factors that contributed to success of an entrepreneurial venture in the quick-service restaurant (QSR) segment. Further, it enables students to discuss changes that are necessitated as the firm looks for new growth avenues. After working through the case and assignment questions, students will be able to analyze the entrepreneurial journey of a startup in red ocean markets by assessing the factors that contributed to its success; comprehend the importance of branding strategy for small business – choosing/designing of brand elements and selecting the positioning strategy; and assess changes needed in the branding strategy over time and devise strategies for the continued success of the firm.

Kolkata-based QSR chain Wow! Momo was bootstrapped with a meager INR 30,000 in 2008 by two school friends Sagar Daryani and Binod Kumar. It went on to become India’s Wow! Momo very first QSR specializing in momos. By the year 2019, Wow! Momo was dishing out India’s favourite street food, “momos” from 300 outlets across 15 cities. It also claimed to have captured 90% market share in the organized momo business. The startup grew at a CAGR of over 50% between 2015 and 2019 and reported INR 1.19bn revenue in financial year 2019 with an EBITDA of 9.3%. Wow Momo Foods Pvt. Ltd (WMF), the parent company of Wow! Momo, had tasted stupendous success within a short period and set an ambitious goal of achieving revenue of INR 10bn by 2023–2024. Wow! Momo had achieved top of mind recall among the target customers and was also vying for the same share of wallet as formidable international giants such as McDonald’s, Domino’s, Burger King and KFC. However, compared to these large players, Wow! Momo offered a limited menu and a smaller average ticket size. At the same time, Wow! Momo’s market share was also threatened by a host of branded momo players that offered a similar menu and pricing. Both these factors did not argue well for WMF’s mammoth growth objective. Achieving revenue of INR 1.19bn in a matter of just 10 years was no small feat, but reaching targeted INR 10bn in half that time needed a different game plan altogether. The founders clearly needed to rethink their strategies for the next phase of growth. What would be the next growth driver for the company? Should it look for greener pastures outside India? Was it time to diversify the menu and think beyond momos? If so, then should new items be added to existing menu or a new brand be launched altogether? The case maps the journey of two entrepreneurs as they went on to set up a successful QSR chain. It examines their trials and tribulations as well as successful implementation of marketing strategy. It also looks at the dilemmas faced by a startup as it searches for new avenues for growth.

Graduate and postgraduate courses in Management.

Teaching Notes are available for educators only.

CSS 8: Marketing.