‘It hit us hard:’ S’pore Poly duo, 18, on how they lost nearly all their ice bath startup’s funds but bounced back

At just the age of 18, Tian Le Binod Gurung and Vikhil Dilipkumar Mahtani have successfully launched 2047sg, a wellness brand offering ice baths and saunas for sale and for rent at events.

But that’s not to say the journey has been without challenges.

At one point, they invested S$10,000, which was nearly all of the funds they had earned and saved for their business, into a new project which eventually fell through.

It took place in September 2025, just a few months after 2047sg officially launched in June and was the biggest crisis they faced for their fledgling business.

They had intended to launch a lifestyle club on top of a restaurant at Cecil Street, with plans to set up their ice bath and bring in other partners.

Over the course of three months, they discussed plans with the owner and spent nearly all of their company’s funds to buy equipment and prepare the space.

“We had talks with other partners to bring in coffee vendors and aqua yoga vendors. There were many, many meetings, almost every day, to brainstorm and get it down to the final details,” Binod said.

After repeated rounds of proposals and approvals, the project was ultimately unable to proceed.

“It was a very difficult time for us. It was a huge opportunity, and the owner was kind enough to take us under his wing as our mentor. When everything fell through, it hit us hard - both financially and mentally,” Vikhil said.

To make things worse, this happened during the poly school term when their final assignments were coming up.

“Balancing everything was tough”, Vikhil shared.

This didn’t stop the two ambitious students from Singapore Polytechnic’s (SP) School of Business, now in Year 2, however.

Binod and Vikhil persevered through their failures to recoup their losses and have successfully broken even in their business.

The pair sat down with Mothership to share how they have always aspired to be entrepreneurs and how their time at SP helped them build their business.

What inspired them to start their own business in the first place?

Growing up, Vikhil enjoyed watching YouTube clips of “Shark Tank” every night.

The American business reality television series fed his fascination with the mechanics of business and entrepreneurship.

So much so that he even started his own side business reselling shoes on Carousell.

On the other side of the island, Binod grew up watching his entrepreneur mother sell Nepalese food as a side hustle.

Like Vikhil, he also spent his childhood watching YouTube videos on topics like finance and psychology — areas that helped him understand people better.

Both young boys dreamt of becoming successful entrepreneurs.

Why ice baths in particular?

Both of them are student-athletes, Binod said, explaining that they often got injured playing sports and were looking for recovery tools for their burned-out bodies.

Binod plays rugby, while Vikhil used to play football and is now involved in powerlifting. The two also gym together as part of their routine.

While searching for options, they found that ice baths and saunas were trending overseas and decided to give them a try.

When they realised such facilities weren’t easily accessible in Singapore, they bought a tub for themselves to experiment.

The inquisitive pair soon spotted a market gap - and built a business idea around it.

“That's when we decided: let's start a business where we supply these tools for people like ourselves, especially with the growing trend in the fitness scene,” Binod said.

The initial single tub they bought themselves was all they used to start the business – they took product pictures of it and took orders on a pre-order basis.

From there, they reinvested their profits and bought more products.

“We didn’t put in extra cash or get investors. We started with one machine, and every profit we made went straight back into building the business,” Binod said.

What’s in their name and what are the benefits of ice baths?

2047sg refers to “twenty-four seven” - a wordplay on 24/7 - reflecting their belief in training resilience consistently, twenty-four hours a day, seven days a week.

When I asked what’s so good about ice baths, Binod and Vikhil replied that there are both physical and mental benefits.

According to Binod, doing an ice bath decreases cortisol, reduces inflammation and speeds up muscle recovery. Mentally, it also trains resilience because “getting into the ice bath is difficult — but you push yourself because of the benefits”, he added.

From a physiological perspective, cold exposure causes the blood vessels to constrict, reducing swelling and inflammation after intense physical activity.

Several studies also indicate it can lessen delayed-onset muscle soreness, especially after high-intensity training.

In addition, short periods of cold exposure have also been linked to increases in norepinephrine and dopamine, hormones associated with alertness, improved mood, and sharper focus.

The pair noted however, that the science is nuanced.

While ice baths can support recovery and enhance overall well-being, some research suggests that frequent cold immersion immediately after strength training may reduce muscle growth.

For that reason, the timing and frequency of ice baths should be tailored to a person’s individual goals.

Starting 2047sg by using what they had learnt in poly

The ambitious youths admitted they didn’t have a formal business plan when they kick-started the commercial gig in November 2024.

They dove straight into researching for suppliers, narrowing down from 147 options “all across the world” to a few shortlisted ones.

The pair shared that they were confident about their business mainly because of what they had learned in poly.

For example, they used Google Trends — a tool they learned in class — to check for popular searches in Singapore.

Ice baths turned out to be one of the trending searches, which strengthened their conviction in the business.

Beyond Google Trends, many tools the two learned in class translated directly into real-world business decisions, they shared.

This includes the Business Model Canvas (BMC), a practical framework they learned in order to pitch to potential investors and partners, which helped them clearly articulate 2047sg’s value proposition, cost structure, revenue streams, and customer segments.

Binod also shared that a module, “Business Essentials Through Action (BETA)”, which they took in their first year, gave them first-hand experience in running a start-up.

“It's basically a year one core module where all business students have to take and you actually have to start a real business. The School of Business gives a budget of S$1,000 seed money to each team, and we set up departments like sales, marketing and production etc.. Everyone has a role, so you’re essentially running a mini start-up from day one,” he said.

Both Binod and Vikhil said their own group projects in BETA helped them learn practical, real-life skills in running a business.

“It taught me risk management, leading a big group and teamwork, and a lot of practical skills, like live selling and negotiations,” Binod said.

He admitted that for first-time business students, being outside of poly selling to people was “a very scary experience”.

Both recognised that what they have learned in poly will help with their business and have always been diligent in attending their classes to always learn and pick up new skills.

Staying resilient, adapting and moving on from their loss

Both Vikhil and Binod admitted that they felt defeated when their lifestyle club project fell through.

However, the experience also reinforced the importance of staying resilient and continuing to prioritise their studies, they added.

“No matter how tired and exhausted we were, we knew we had to keep pushing and do our best to manage our academic commitments alongside everything else,” Binod said.

As for the equipment they bought, they repurposed it for other events and tried their best to recoup their losses.

Binod pointed out:

“I'll say the biggest lesson that we learned from this is definitely resilience, 100 per cent. And we just learned that in business, no matter how good it seems, anything can happen at any time.

The best thing to do is to be responsible, adaptable, bounce back fast and not dwell on what has already happened.”

He also struck a reflective note, adding, “It was a very meaningful experience and I wouldn’t change a thing.”

Supportive staff at SP

The two also expressed gratitude to the teaching staff who supported their business.

One of the School of Business lecturers, Andy Leong, gave them advice and often used their business as an example when teaching concepts in class, they shared.

Another lecturer, Esther Leung, also gave them opportunities to promote their business, such as recommending them for this interview.

The pair also presented their business during a Wellness Day event in SP, where they shared more about their products and the benefits of ice baths.

Hear more from them at SP’s Open House

Binod and Vikhil’s journey with 2047sg is just one example of how SP students have turned ideas into real-world impact.

It is also an instance of how SP’s School of Business has provided a sandbox environment for students to experiment, make mistakes and try new ideas in a safe environment.

Guided by SP's School of Business’ Act, Reflect, Transform (A.R.T) pedagogy, the two took the courage to start (Act), learnt from setbacks (Reflect), and grew a sustainable business (Transform).

Catch Binod and Vikhil at their booth on Jan. 10 during the upcoming Open House at SP where they'll share their journey with prospective students. Their story will also be featured at the Diploma in Business Administration counselling room.

Happening from Jan. 8 to 10, 2026, prospective students can explore the diverse courses and future pathways available at SP and how SP shapes individuals to be more than just typical learners, ready for real challenges, opportunities and real impact.

You can also expect to speak with lecturers from diverse backgrounds and current students about their poly experiences, and receive exclusive SP merchandise, such as t-shirts, stickers and bags, at the Plaza.

You can also attend SP Discovery Evening 2026 on Jan. 9, which features two concurrent talks designed for parents and students.

Interested? You can register here to confirm your attendance for either of the talks!

Top photos courtesy of 2047sg and Singapore Polytechnic