Behind the Forbes 30 Under 30 recognition of Nishita and Nikita Baliarsingh lies a narrative of perseverance, learning, and the critical support systems that shaped their entrepreneurial journey with Nexus Power.
Nishita and Nikita Baliarsingh, twin sisters and co-founders of Nexus Power, were featured on the Forbes India 30 Under 30 list in 2021, a recognition that marks a significant milestone in their entrepreneurial journey. However, the narrative they present emphasizes that this accolade is merely the tip of the iceberg, obscuring years of mistakes, failed experiments, and the learning curve that accompanied their startup’s development.
“A lot of things are invisible. Our mistakes, wounds and decision-making errors are probably invisible because those are not things we talk about very often. What comes out on LinkedIn or in the media is very polished when you read about us online,” said Nishita, reflecting on the sanitized stories often shared in professional circles.
The Baliarsingh sisters attribute their success not only to their efforts but also to the collective support from various stakeholders throughout their journey. “There have been times when things have gone really down and we needed someone else to help us get back on track,” Nikita shared, highlighting the significance of motivation, capital, and community support during challenging phases.
Early Foundations at SAI International School
Long before their inclusion in Forbes’ prestigious list, Nishita and Nikita were students at SAI International School in Bhubaneswar, where they were encouraged to take on responsibilities from a young age. Their early involvement in organizing school activities, such as the UNWIND platform—a venue for students to showcase their talents—provided them with invaluable management experience.
“Being called into proper conference rooms and having professional discussions at 13 or 14 also gave us a different level of confidence,” Nishita noted. This early leadership exposure was further reinforced by the impactful mentorship of their school chairman, Bijaya Kumar Sahoo, who recognized their potential and encouraged them to strive for improvement.
“When someone shows that much faith in you, you want to live up to that trust,” Nikita recalled, emphasizing the profound influence of supportive mentors in their lives.
Transition from Electric Vehicles to Battery Technology
Initially, the sisters aspired to build electric vehicles around 2017-2018. However, as they delved deeper into the technical aspects, they encountered the more significant challenge of battery development. “We started with the idea of making electric vehicles. But when we started working on it, we realised that the difficult part was the battery,” Nikita explained.
This realization led them to pivot their focus to battery technology, ultimately founding Nexus Power in 2019. They began researching battery cells and exploring innovative materials, including biomaterials derived from industrial and agricultural waste, to enhance battery performance.
Self-Education Amidst Challenges
Despite their management backgrounds, the Baliarsingh sisters faced a steep learning curve in the scientific realm necessary for their deep-tech startup. “We were management graduates. We had studied commerce in Classes 11 and 12 and then business management, so understanding scientific journals, the names of equipment, processes and chemicals was probably the toughest part when we started,” Nishita recounted.
To bridge this knowledge gap, they undertook extensive technical courses during the COVID-19 pandemic, dedicating six to seven months to learning and building a team of researchers with significant expertise. “We had to build ourselves technically as well, because we needed to understand what the team was doing and be able to guide them,” Nikita added.
Innovative Experimentation: The ‘Rajma-Chhole’ Breakthrough
The inception of Nexus Power was marked not by a singular breakthrough moment, but rather by a series of experiments conducted during the pandemic lockdown. One notable experiment involved synthesizing electrodes from common legumes, resulting in a stable 5V output. This pivotal finding instilled confidence in the sisters that their innovative chemistry could serve as the foundation for a viable deep-tech enterprise.
Despite this success, the path was fraught with setbacks. The Baliarsingh sisters recounted a challenging period where their material synthesis and cell manufacturing teams were at odds due to inconsistent results. Ultimately, they discovered that a third-party binder was the root cause of the issues. “Both teams were right, but there was a third-party problem that had created the mess,” Nishita clarified. The sisters emphasized the importance of learning from failures, stating, “When you’re doing R&D, how can you not get things wrong?”
Navigating Ongoing Challenges as Entrepreneurs
The journey of Nexus Power is ongoing, with numerous challenges still ahead, including certification, licensing, and adapting to rapid advancements in battery technology. As the sisters continue to navigate the complexities of co-founding a company, they acknowledge that their partnership has not been without conflict. “We have probably fought more during our working years than we did as children,” Nishita admitted. However, they have also leveraged their differences—one sister being more visionary and the other more strategic—to effectively divide responsibilities.
For both Nishita and Nikita, the Forbes recognition symbolizes the culmination of their hard work and persistence, but they stress that it does not encompass the entirety of their journey. The true narrative includes the mentors who believed in them, the initial electric vehicle dream that redirected them to batteries, the scientific knowledge they had to acquire, the myriad of failed experiments, and the unwavering support from their community.
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