If you keep digging, there is light at the end of the tunnel, says Ritesh Agarwal at RBETA 2024

RBETA 2024: At the Republic Business Emerging Tech Awards (RBETA) 2024, Ritesh Agarwal, the founder and CEO of OYO Rooms, shared his journey and insights with an enthusiastic audience of entrepreneurs and startup enthusiasts. The event, known for celebrating innovation and entrepreneurship, felt like home to Agarwal, who stressed the spirit of entrepreneurship pervading the gathering.

Reflecting on his decade-long journey in the startup ecosystem, Agarwal highlighted three unique factors that have contributed to his impact. "I was lucky to be born in this generation in India, where people's aspirations have grown over the years. So, if you are a 19-year-old or a 25-year-old who wants to start a company with no money in the pocket, it's okay," he encouraged.

In a lighter moment, Agarwal quipped, “Abhi mauka mil gaya hai to ab chhodhenge nahi, ab dat ke lage rahenge,” expressing his relentless determination once given an opportunity.

He shared that his immersion into the startup culture began when he moved to a new city. "Second is nativity is a bliss. When I came to a new city, everyone was starting a company, which made me feel that this is easy, so I got into it," Agarwal recalled.

Dispelling common myths about entrepreneurship, Agarwal stated, "When you start a company, there is a myth that no one is your boss, but this is not the truth. Everyone is your boss, be it your customers or your partners."

Agarwal credited his father, who worked in road construction, for instilling in him a tenacious work ethic. "My father used to tell me that if you keep digging, there is light at the end of the tunnel. That is why I never gave up," he shared.

Acknowledging the role of his team, Agarwal said, "I was lucky to find great colleagues and partners. A combination of my ability to learn from the value system, a growing economy, and the people around me is essential."

Looking ahead, Agarwal identified real opportunities in the media sector. He noted the significant growth in OYO's international revenue, stating, "Five years ago, we received zero revenue from overseas."

The RBETA 2024 event underscored the dynamic and supportive environment of the Indian startup ecosystem, with Agarwal's journey serving as a testament to the potential and resilience of young entrepreneurs.