THE SILICON VALLEY START UP CITY
Learning from the Silicon Start up City Bangalore
It was an event that witnessed 3500 dignitaries coming in and about a 150 start up companies from all over the country. There were various guest talks from eminent personalities of the business world and few discussion panels. The event is a must go to those interested to start their own venture. The views presented are not personal.
Entrepreneur funda:-
The six point take away from mind tree founder
v Entrepreneurship is about institution building
v Entrepreneurship is about relentless optimism
v Entrepreneurship is not about not committing mistakes(In short making mistakes is allowed)
v Never fear from the big boys. You will definitely have your own advantages.
v As an entrepreneurship risk taking is very important.
v .. As an entrepreneur do what you are good at doing. Never do everything of your own. You will definitely put on more value to what you are good at.
Create performance based teams. An MBA degree is not at all a pre requisite for starting on your company. The problems that you are going to face can be cracked like any normal math problem. You can definitely find the right kind of people to join your team if you are truly committed to last as a successful institution.
VC funda:-
No VC or an angel investor will ever ever ever ever invest in your venture unless you have put some meat in the game. Go for funding only after you have exhausted the finances from yourself, the 3F’s (family, friends, and fools). Always show that you can do something and show the confidence levels of the teams. When you go to the VC for funding see that you don’t sell your idea. Instead go for a conversation with him. See if he is the right person to be in the game. Don’t be just a sales person. It is always important to address the VC what he wants to listen. If he wants the financials don’t make him wait till slide 23 or so. Show him then and there. Remember money is not the limit for getting venture capital. Even 100 crores are very easy if you can prove that you are the right person.
Innovation funda:-
No inspiration no innovation. Innovator is one who understands the facts, feelings , trends , problems of the consumers and then goes about making it suitable for him in services, delivery, marketing and of course the product. Innovation is just not about technology. Innovation is a money making venture.
One in 50 ideas becomes a business. 1 in 20 gets money. And one in 20 is 1-bn above in the market. So facing difficulties in this field is very common. Never get scared of failure, take more risks to grow more. In short odds are substantially high and so the difficulties are also very high. This is a very audacious field and once you get into it just be hooked because you have taken the best decision.
