Slow success often feels like nothing is happening. People around you might think you’re stuck, but the truth is different. You believe in your idea, and you shine when the time is right. History has shown that many startups fail due to poor financial decisions and weak management. In the startup world, knowing when to raise money and how to avoid debt traps is crucial.

The Gujarati mindset sees debt as a last resort. Ankit Mehta, CEO of Ideaforge, works with the same belief. Today, we take inspiration from Ideaforge’s journey. A startup growing for over 20 years. A Start-up proving that patience, planning, and persistence lead to success. From a dream of building hovercrafts that float over water to developing UAVs and drones for India’s defense. This is how Ankit Mehta’s long-term vision shaped IdeaForge into what it is today.

Early Beginnings

Ankit was born and raised in Mumbai with a mind full of curiosity. Young and driven by dreams, he joined IIT Bombay in 2000. From his early college days, building things made him excited. He pursued a dual degree (B.Tech. and M.Tech.) in Mechanical Engineering, choosing to specialize in Computer Aided Design and Automation.

College life brought him together with like-minded dreamers. He met Ashish Bhatt while preparing for a competition. Together, they represented India at ROBOCON’2005 in Beijing, China. These IIT days shaped their minds for the challenges ahead.

Building the Dream

After graduating in 2005, Ankit focused on IdeaForge’s long-term goals. Like every startup, funding was their biggest challenge. To manage this, Ankit joined a sales and marketing consultation firm in Pune.

After initial struggles, they launched IdeaForge with early investments and government grants. The core team included Rahul Singh and Ashish Bhatt. While Ankit was 25, both Rahul and Ashish were still completing their degrees.

Starting up meant living a simple life. In interviews, Ankit often talks about their modest lifestyle choices. Back in 2007, India had almost no presence in drone technology. The country relied heavily on importing UAV technologies from other nations. Getting external help seemed impossible, so the team had to figure everything out themselves.

Milestones & Turning Points 

The initial days were difficult but always motivating. Even after no funding and financial challenges in their startup, they never lost sight of their long-term vision. The team built data loggers and portable chargers to earn enough. So that they can work on their vision.

Their breakthrough came in 2007-08 when the team developed their first quadcopter drone. With no supporting technology available, they crafted prototype blades from hand-cut carbon steel. The year 2009 brought unexpected recognition. Their drone appeared in the movie ‘3 Idiots’. It marked a proud moment for IdeaForge.

Working with limited resources didn’t stop them from setting records. In 2009, they created the world’s smallest autopilot weighing under 10 grams. This beat the global record of 16 grams, though unofficially. More importantly, this indigenous achievement caught the attention of India’s defense sector. Soon, they are supplying their UAV technology to DRDO (Defense Research and Development Organisation).

Understanding the Responsibility

Sometimes life shifts your purpose from doing what you love to serving a bigger cause. For IdeaForge, this moment came with the tragic 26/11 Mumbai incident. This event made Ankit realize his deeper responsibility towards India.

During those terrifying hours, Ankit understood how their technology could help save lives. Their drones could help security forces assess the situation better, potentially reducing casualties.

This realization transformed their mission into something bigger than themselves. Today, their technology serves India’s defense system, military, and police forces. Their drones help in disaster management too, proving that innovation can protect and save lives.

What’s next?

When you do the right thing, people start to believe in you and join the cause. In 2017, tech giant Qualcomm partnered with them to enhance UAV’s payload capabilities.

By 2022, IdeaForge was already in monopoly in India’s UAV market, capturing 50% of the market. Their patient approach to long-term goals started to show results in 2023. The company launched its IPO, which turned into a massive success story. The public offering was oversubscribed 106 times, raising 567 Crores.

The Journey Continues 

Even after all these years, success hasn’t clouded Ankit’s long-term vision. Today, IdeaForge serves India at multiple levels. In 2024, the Economic Times recognized Ankit as one of India’s top Entrepreneurs under 40. He now contributes as a member of India’s drone task force and AI task force. This position didn’t come overnight but took years of dedicated work.

Lessons from Ankit’s Journey

After studying and analyzing Ankit Mehta’s journey, we can learn some valuable lessons. Here are some key takeaways…

• Believing in yourself is important. People’s discouraging words disappoint us, influencing us to doubt our plans. The idea is to move forward with what you trust. If you are doing it right, you will be successful.
• Start with self-funding before seeking outside investment. IdeaForge’s approach shows the value of being self-reliant. Avoiding debt through careful planning gives you more control over your startup’s future.
• Lastly, never lose sight of what you are building. It might take months or maybe years sometimes, but working through it is essential.

Everyone’s journey offers different lessons to different people. These were some takeaways from Ankit Mehta’s story. What did you learn from the journey of IdeaForge’s CEO and Co-founder? Share your thoughts below – we’d love to hear your perspective.

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