Entrepreneurial Journey of Madhavi Shankar, the Co-Founder, and CEO of SpaceBasic, Inc.

    “As a Woman Entrepreneur, I Believe, It’s My Duty To Give Back… We Adhere to Equal Opportunities.” – said the Co-Founder & CEO of SpaceBasic, Inc. Madhavi Shankar about her contribution towards global women’s employment.

    Business Upside [BU]: How Did You Get Your Idea or Concept to Establish Spacebasic, Inc.?

    Madhavi Shankar [MS]: From the experience I had in Australia as an international student and drawing a comparison to my experience in India, I was inclined to build something in the education space. I returned to India in 2017 with the goal of solving a REAL problem, which customers would pay for upfront. With rigorous due diligence, we discovered that student housing communities within schools and colleges follow archaic manual processes to carry out day-to-day tasks like verbal security permissions for students, handwritten data management, and more. These manual processes were labor-intensive, plagued with problems, and especially could not ensure the safety and security of students. This pattern persisted across big and small colleges.

    We knew there had to be a better way! We zeroed in on this problem and, with SpaceBasic, solved it with technology today.

    [BU]: What was Your Mission at the Outset?

    [MS]: My mission is to solve a REAL problem in the education space.

    [BU]: How do You Market Your Business, and Which Method has Been Most Successful?

    [MS]: We are a B2B SaaS business. We have a direct sales team meeting universities. Referrals for us have been an effective way to reach new customers.

    [BU]: What was Your Experience in the Initial Days of Your Entrepreneurial Journey?

    [MS]: I had to overcome the usual first-time founder challenges of finding early adopters and scaling the business from there onwards.

    [BU]: What are Some of the Most Important Lessons that Have Influenced Your Work?


    • Find a mentor
    • Due -diligence is a must – Stay connected with customers to solve a real problem
    • Resilience – Don’t give up

    [BU]: Share Your Contribution Towards Global Women’s Employment and Equal Opportunities?

    [MS]: As a woman entrepreneur, I believe, it’s my duty to give back. As a policy at SpaceBasic we adhere to equal opportunities. We are a part of Pledge1%. Org, where we pledge 1% of our profits towards educating women every year. We have also partnered with NGOs where we fund higher education for girl students every year.

     [BU]: What were the Biggest Roadblocks or Challenges You had When You First Started in the Profession, and How Did You Overcome Them?

    [MS]: I had to overcome the usual first-time founder challenges of finding early adopters and scaling the business from there onwards.

     [BU]: What has Been Your Most Satisfying Moment in Business?

    [MS]: The most satisfying moment in business is the ability to simplify our customers’ daily life on campus.

    [BU]: What is the Next Goal You Wish to Accomplish?

    [MS]: We want to digitize a Million students and staff campus experiences with SpaceBasic.

    [BU]: How Would You Define Success?

    [MS]: Business success is achieving the milestones we have set, and personal success for me is being able to do what I love every day.

    Also Read: Swati Sinha, Founder & CEO of Savanna HR, Shares Her Entrepreneurial Journey

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    Josie Patra
    Josie Patra is a veteran writer with 21 years of experience. She comes with multiple degrees in literature, computer applications, multimedia design, and management. She delves into a plethora of niches and offers expert guidance on finances, stock market, budgeting, marketing strategies, and such other domains. Josie has also authored books on management, productivity, and digital marketing strategies.

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