(June 11, 2024) When Microsoft flew Akshat Saraf and his Mexican classmate Jorge Garduño to their headquarters in Seattle as part of the Microsoft Imagine Cup recently — they fully expected it to be an eventful week in their lives. But it turned out to be much more than that.
Not only did they get to attend MS build, where they met with the global developer community, they attended keynotes by the likes of Satya Nadella and Sam Altman. What more, they even received a pat on their backs by Satya Nadella. “We met Satya backstage right before his keynote. He wished us the best of luck and said he was very impressed by our work before patting us on the back. It was an incredible experience that we will cherish forever,” smiles Akshat Saraf, an MBA student of Saïd Business School, University of Oxford, UK, in a chat with Global Indian.
Akshat and Jorge were declared runners-up in the recently concluded Microsoft Imagine Cup, a global competition that encourages students to create AI-based solutions to real-world challenges. More than 1,500 startups entered the competition, in which Akshat and his MBA classmate’s innovative AI startup, JRE reached the top three.
Akshat and Jorge, co-founders, JRE, at the Microsoft Imagine Cup
Microsoft Imagine Cup
Akshat and Jorge first entered another competition, the “Oxbridge AI Challenge”, where AI startups from Oxford and Cambridge come and pitch their ideas. After being one of the winners of this challenge, they were fast-tracked to the Imagine Cup due to their partnership with Oxbridge AI.
“The Imagine Cup was a huge time commitment and an incredible learning experience for us, filled with multiple mentor calls, expert guidance, and product improvement over the course of four months,” says Akshat, who also got an immense amount of pitching experience through it, which made the team much stronger.
The Imagine Cup was an eliminator-style competition, and Akshat and Jorge had to bring their A-game every round. “When we got the news that we had reached the world championship and were amongst the top 3 out of over 1500 startups that applied, we were over the moon and in utter disbelief,” says Akshat.
As World Finalists and runner-ups of the Imagine Cup, the dynamic duo received an equity-free grant of $50,000 from Microsoft, which they have fully deployed towards bootstrapping their company.
At the MS headquarters, Seattle
At Microsoft headquarters in Seattle, Akshat and his classmate met with experts in the field, learnt about the exciting new tech they are working on in the campus and also got to be on the Ms Build keynote stage in front of thousands of people. “It consisted of multiple rounds, with the semifinal round consisting of 18 people and us achieving the top 3,” says the 28 year old.
Beyond the semi-final stage, they not only had expert mentors from within Microsoft but also industry experts that they specifically reached out to in order to give them a well-rounded start-up even beyond the competition. “We put in immense amounts of work in building not only our product but also the pitch, viability, financial projects, etc. This was a once-in-a-lifetime opportunity.”
Together, they competed against incredible companies amongst some of the brightest minds in the world.
JRE
JRE is a startup co-founded by Akshat and Jorge along with another AI expert based in Mexico Elí Cuéllar. They use their proprietary AI and plug-and-play hardware-software combo to make steel production more profitable and sustainable.
“Our AI model detects anomalies in the steel manufacturing process, giving way to massive reductions in reprocessing costs and wasted yield,” explains Akshat. Through the system, they have created bespoke models for each manufacturer, making it a perfect custom fit for their respective plants and style of operations.
“We (Akshat and Jorge) met at the University of Oxford and were the only two people out of a cohort of 340 who were associated with steel. We immediately hit it off and decided to build something amazing together to make an impact on steel.”
They spent months working and created a solution that is a win-win for the pockets of steel manufacturers while also being great for the environment. Akshat says the product is ready for deployment, and they are in talks with large manufacturers to launch it.
Inspired by businessmen
Born in Hyderabad, Telangana, Akshat completed his schooling from Oakridge International School, Hyderabad in 2013. He then went to Indiana University Bloomington for Bsc in Management.
“Indiana university was a huge culture shock for me. I moved there at the age of 17, my first time in the USA, and it was extremely daunting at first. However, it taught me a lot about being self-reliant, independent, and brave,” says Akshat, who completed his undergrad in 2017.
From a very young age, he was inspired by businessmen. Although interested in many things, he always had a calling for entrepreneurship and the business world. “I always knew business was what I wanted to do, along with creating lasting value,” says Akshat, who did his Executive Masters – PGPMFAB (family business) from Indian School of Business (ISB) in 2022-23 followed by MBA at the University of Oxford, which he will be completing in September this year.
At Radha TMT
Prior toBefore he left the country for his Executive Masters, Akshat was actively involved in his family business, which runs under the banner of Radha TMT, as the company’s Director. He worked there for six years before coming out for the MBA. “I helped scale growth through sales, launching completely new brands such as rhino 600+, our flagship premium product. I also did a 360° revamp across the sales and marketing divisions,” he says.
For the initial two years, he studied each aspect of production and plant operations. This allowed him to understand the recipe fully, before he went further on to tweak the sales and marketing recipe post expansions. “My involvement in Radha stretched beyond just operations and sales, first at an executive level, and later at a more strategic level.”
Networking
Academically, Akshat has always done well. “I was on the Dean’s List for multiple semesters during my undergrad, graduated with honours distinction deans list from ISB, and so far been faring very well at Oxford as well,” he smiles.
However, the main value he extracted through his studies post high school has been centered around networking, which give him as much pride as his grades. “It’s about the hands you shake, not the grades you make,” he says, quoting a guest speaker, who made the remark during a session during Akshat’s undergrad.
At Oxford
“Oxford has been phenomenal – unlike anything I have ever experienced,” says Akshat. He describes Oxford as a Harry Potter-type city, in which one is constantly around immense intelligence. He says the overall ecosystem around the university is phenomenal, to say the least.
He feels it is also extremely challenging, as the cohort is extremely talented, diverse, and accomplished. “About 97% of our cohort consists of international students, representing 70 countries from across the world. This diversity brings an incredible variety of cultures, thought processes, and ways of doing tasks,” says the proud Oxonian.
In the pipeline
“This is a very exciting time for us as founders. We wish to continue to explore the potential of AI to the fullest extent in manufacturing, especially in steel manufacturing,” says Akshat, who hopes to deploy JRE systems in every steel manufacturing plant that exists whilst also developing new products that help him continue to create a sizable impact on the steel industry.
His vision is to continue creating improvements in both the commercial and sustainability spheres of manufacturing, truly embodying our motto – People, Planet, Profit. “I have a pretty packed schedule currently, working on JRE and attending the last semester of classes at Oxford.”
Fitness forward
Akshay has been a black belt martial artist in multiple forms. He started training due to a severe orthopaedic issue he faced as a kid when a doctor told him he wouldn’t be able to walk past his teenage years. “Martial arts changed my life, not only from a fitness standpoint but also from a mental aspect. It instilled a lot of focus, resilience, and willpower in me, thanks to the guidance of my sensei, Mr Farzaan Merchant,” says Akshat, who even completed a half marathon a few months ago.
Akshat makes sure he doesn’t miss his workouts, and particularly enjoys running and lifting weights. “Besides this, I spend time with my wife and my friends, and I also try to attend as many of the 1000 activities that are constantly happening around the vibrant student community at Oxford,” smiles the youngster.
He listens to audiobooks frequently and among his favourites is ‘Can’t Hurt Me’ by David Goggins. “That is more than just a book; it is basically a mental gym developing the muscles of willpower and a never-give-up attitude,” he says. For inspiration, he likes to watch his favourite Hindi movie “Guru,” loosely based on the life of industrialist Dhirubhai Ambani.
Giving back
Akshat has always been passionate about the cause of education for the underprivileged. He worked with an organisation called ‘Teach for Change’ starting as a volunteer and then serving on their advisory board till last year.
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So so proud of u