There has been a lot of brouha about Start up in india . The start up in the current times means starting a business with some tech involvement and trying to do things in a different manner and thereby disrupting the whole eco system . My observation is that india has been a land of entrepreneur , entrepreneur by compulsion . Most of the entrepreneur in india are because they had to do something to feed there family and do not have that many opportunities.That's why we see all the Paan Shops , street food vendors etc etc . With the glamorization of 'Start Up' culture we see a tonne of youngster jumping the bandwagon . You see an idea being discussed in every corridor of Engg/MBA school to alleys of software/consulting companies .
You see youngster leaving the regular job and taking a plunge to create the next 'Housing','Tinyowl','peppertap','roadrunner','paytm','Uber for X' etc etc . Most of the Techpreneur ,which I have come across, are very passionate and are ready to take the risk . There passion and energy is highly infectious . They are ready to take on the world and work against the odd ..Whether leaving the comfortable and cushy jobs or living in office cum home set up with bare necessities or in some cases even borrowing money from friends.Most of these entrepreneur are from typical middle class background and are ready to take on the world, have'nt seen this type of passion earlier . You go to any meet up and will find a tonne of them . When ever they spot a 'Hero' of the current disposition , read VC's and founder of top 20 funded start up , they are awe stuck and are re-energised. VC's are the 'Ganesha' of the new Eco System , This job was never that high coveted till the current wave. The amount of linkedin request they get is humongous . Nothing wrong in that but what ails in the current system is that a majority of current start ups are making their business plan based on
VC's are putting in risk capital and that too somebody else's money so they need to cover their asses but in turn to safeguard their investment they should work more as partners rather than just investors infact they can add much more value by hand holding the entrepreneur , on the contrary in a tonne pf cases they usually drop the entrepreneur high and dry . It become all the more important in the current scenario since this space of techno-economy is in a very nascent stage & not many people have solid background of business matrix This has led to mushrooming a lot of hustlers ,Guys with scheme to manage these matrix - Be it app downloads , fake order booking , AD mob frauds etc . Thus the VC getting fooled by these type of tricks is quite high , entrepreneur and VC's have to be smart enough to not fall for these honey traps and harm the whole system.
My take is that the entrepreneurship in india is at its peak , we need to harness that energy and need experienced people to help them achieve the same . If we falter than we might not be get the desired results which we can achieve by harnessing this energy . VC should start getting more involved in the investee company and get more entrepreneur on board of the investment team and provide thought leadership as well as mentorships to its investee companies .I have personally seen that the moment one gets institutional money , the major energy of the founder is channelised in managing the investors and his reporting templates .
Focus should be more on creating businesses rather than individuals .What we are seeing is that brand Bansal's , Sharma's,Aggarwal's etc have become bigger than the businesses.Media also has a very important role ,it should also stop evaluating a success by the amount of fund raised by the companies but needs to focus more on products and differentiated services which a company is providing . This will help in doing the requisite changes in the eco-system.
There is too much entropy in the system right now . A shake up is already taking place. Things are going to be pretty exciting in next couple of years and some serious business disruptions are going to happen .We have the talent/energy/market to think & create a Silicon Valley in india ,all we need is create the right Eco system to celebrate innovation and failure.
You see youngster leaving the regular job and taking a plunge to create the next 'Housing','Tinyowl','peppertap','roadrunner','paytm','Uber for X' etc etc . Most of the Techpreneur ,which I have come across, are very passionate and are ready to take the risk . There passion and energy is highly infectious . They are ready to take on the world and work against the odd ..Whether leaving the comfortable and cushy jobs or living in office cum home set up with bare necessities or in some cases even borrowing money from friends.Most of these entrepreneur are from typical middle class background and are ready to take on the world, have'nt seen this type of passion earlier . You go to any meet up and will find a tonne of them . When ever they spot a 'Hero' of the current disposition , read VC's and founder of top 20 funded start up , they are awe stuck and are re-energised. VC's are the 'Ganesha' of the new Eco System , This job was never that high coveted till the current wave. The amount of linkedin request they get is humongous . Nothing wrong in that but what ails in the current system is that a majority of current start ups are making their business plan based on
- What is the current flavor of the month
- What is the equivalent in US
VC's are putting in risk capital and that too somebody else's money so they need to cover their asses but in turn to safeguard their investment they should work more as partners rather than just investors infact they can add much more value by hand holding the entrepreneur , on the contrary in a tonne pf cases they usually drop the entrepreneur high and dry . It become all the more important in the current scenario since this space of techno-economy is in a very nascent stage & not many people have solid background of business matrix This has led to mushrooming a lot of hustlers ,Guys with scheme to manage these matrix - Be it app downloads , fake order booking , AD mob frauds etc . Thus the VC getting fooled by these type of tricks is quite high , entrepreneur and VC's have to be smart enough to not fall for these honey traps and harm the whole system.
My take is that the entrepreneurship in india is at its peak , we need to harness that energy and need experienced people to help them achieve the same . If we falter than we might not be get the desired results which we can achieve by harnessing this energy . VC should start getting more involved in the investee company and get more entrepreneur on board of the investment team and provide thought leadership as well as mentorships to its investee companies .I have personally seen that the moment one gets institutional money , the major energy of the founder is channelised in managing the investors and his reporting templates .
Focus should be more on creating businesses rather than individuals .What we are seeing is that brand Bansal's , Sharma's,Aggarwal's etc have become bigger than the businesses.Media also has a very important role ,it should also stop evaluating a success by the amount of fund raised by the companies but needs to focus more on products and differentiated services which a company is providing . This will help in doing the requisite changes in the eco-system.
There is too much entropy in the system right now . A shake up is already taking place. Things are going to be pretty exciting in next couple of years and some serious business disruptions are going to happen .We have the talent/energy/market to think & create a Silicon Valley in india ,all we need is create the right Eco system to celebrate innovation and failure.