MxMIndia

Tag: entrepreneurs

  • 'India's Angels' starts on Jan 19 and will focus on the investor community which drives entrepreneurship in India

    CNBC-TV18 launches series on VCs, angel investors

    By A Correspondent

     

    Shereen Bhan

    CNBC-TV18 is set to launch ‘India’s Angels’, special TV series on Venture Capitalists, Angel Investors and Seed Funds. The series attempts to bring to the forefront the role of the most critical cog in the entrepreneurial ecosystem. It will focus on the investor community that is responsible for investing funds that fuel and drive the entrepreneurship and start up scenario in our country. With the objective of introducing India to motivating stories, CNBC-TV18’s Executive Editor Shereen Bhan will put together this special series featuring some of India’s most prominent early stage investors.

     

    Angel Investors and Seed Funds are increasingly evolving as the key financiers for startups and early stage enterprises. They are evidently playing a crucial role in revolutionizing the start-up ecology. A shocking revelation proves that 90% of the startups fail to sustain beyond initial years, only due to shortage of funds. So what makes some start ups click? What do the VCs and Angel investors look at before funding? Do VCs get allured with fancy ideas or do they calculate the feasibilities of business matrices?

     

    CNBC-TV18’s ‘India’s Angels’ will try and find answers to some of the above mentioned questions and bring you an insight into the thinking of some renowned startup benefactors. The show is designed in a dynamic manner to comprehend and encourage the prospective entrepreneur pool in India. The special series will capture successful financers, along with the entrepreneurs they have funded.

     

    Find out more about why Google India’s Chief Rajan Anandan, has turned Angel. Why Deep Kalra, Founder of Makemytrip is now backing other entrepreneurs. How Vijay Shekhar Sharma, Founder of One97 Communications has managed to set up a 100 million dollar fund. Also Watch some of India’s best known VC’s like Sanjeev Agarwal of Helion Ventures, Jayant Sinha, Managing Director of Omidyar Network India Advisors, Bharti Jacob, Co-founder of Bangalore based Seedfund, Sasha Mirchandani and Prashant Choksey, Founders of Mumbai Angels on the changes in India’s entrepreneurial ecosystem, their investment and mentoring mantras.

     

    Commenting on the series, Executive Editor Shereen Bhan said, “Startups have gained a lot of momentum, but we are still at a nascent stage. We believe that collectively a lot of work needs to be done to aid and sustain this sunrise sector. We consider the emergence of startup investors as an extremely vital element for the much needed entrepreneurial thrust. India’s Angels is more than just inspiring and we don’t want to just narrate a tale and stop there. We intend to play a constructive role of evangelizing young risk takers, give them the confidence to embark on their entrepreneurial mission.”

     

  • Rajesh Sawhney, Founder, GSF Superangels will be launching GSF Accelerator, a multi-city start-up accelerator, on October 15, 2012. It will help start-up companies that are product oriented and primarily in the mobile, social, local and cloud space by providing them funds in line with global benchmarks.

    GSF Accelerator is for the entrepreneurs and of the entrepreneurs: Rajesh Sawhney

    By A Correspondent

     

    The Indian digital economy is on the upswing but, what is expected to further fuel this growth and the growth of the Indian economy as a whole is the growth of well established startup companies. The irony however is that unlike in the west, it is a huge challenge for aspiring entrepreneurs to start-up in India. A non-supportive government, lack of mentorship and lack of funds or capitals are said to be some of the big roadblocks for aspiring entrepreneurs.  GSF Accelerator, said to be the single largest funding platform for the Indian start-ups, aims to change this by helping start-up companies, particularly those that are product oriented and primarily those into mobile, social, local and cloud.

     

    Rajesh Sawhney

    GSF Accelerator which is perhaps India’s first multi-city start-up accelerator launches on October 15, 2012. It is said to have received backing from 30 leading founders and five venture funds. GSF Accelerator is an initiative by Mr Rajesh Sawhney, Founder, GSF Superangels, a network of 30 leading digital founders and investors. The key advisors to GSF include Mr Naveen Tewari, CEO and Founder, Inmobi, a global mobile platform which is said to have raised $ 200million from Softbank recently; Mr Avnish Bajaj, Founder, Matrix Partners, one of the leading Venture fund; and ex founder of Bazee (acquired by ebay), Mr Saul Klein, Partner at Index Ventures, co-founder of TAG and Seedcamp; and Mr Dave McClure, founder of 500 Startups, one of the leading early stage investor in the Silicon Valley.

     

    The GSF Accelerator initiative is said to have been built around three core values namely, ‘intensity of mentorship’, ‘deep collaboration with the ecosystem’, and ‘creation of a global springboard’ for the next generation of Indian start-ups. This program is designed to create the next wave of product-oriented technology start-ups in the areas of mobile, social, local and cloud.

     

    In conversation with MxMIndia, Mr Sawhney explained, “Our goal is to precisely help these start-ups who are product oriented primarily in mobile, social, local and cloud and provide them the best experience you can give them. I have personally designed 25 workshops which I think are absolutely critical to the early days of startup i.e. for the first one year. We will be providing initial capital which will be the global benchmark i.e. providing US $ 25,000 to 30, 0000 for single digit equity, and we will be in line with that.”

     

    According to Mr Sawhney, in the long run India will see a quantum leap in startup companies, however the problem today is that most of these companies are not being funded at their initial stage, which is very crucial for growth. “We are not providing enough mentorship to young companies and we are not funding them at their initial stage. Although, there are a lot many companies being formed even today, if aspiring entrepreneurs can get the right amount of capital, the right amount of mentoring, then I don’t see why we cannot build great companies in India with global impact. We are seeing huge entrepreneurial activities across cities but, what is really missing in India is the eco-system support.  Therefore GSF Accelerator is for the startups and by the startups and that’s the core of this initiative.”

     

    The GSF Accelerator program will run simultaneously in Delhi, Mumbai and Bengaluru between October- November, 2012, and each location will be hosting four start-ups. Extensive coaching will be provided to each of the 12 GSF start-ups over a period of seven weeks by a mentor pool of over 200 leading co-founders and digital masterminds from across the world. The GSF accelerator start-ups is said to attend 25 intensive and proprietary workshops conducted by global experts.

     

    In addition to this, GSF Accelerator has inducted 10 serial entrepreneurs with deep domain expertise in technology and start-ups as Entrepreneurs-in-Residence (EIR).  It is in the process of announcing three or four more EIRs who will be conducting this workshop and these EIRs will also work as buddy mentors during the seven weeks time i.e. between October and November 2012. “All these EIRs will be attached to one company each to help them steer through the program. All these EIRs have been carefully chosen; they are in their 30s, large tech orientation, many of them have worked in startups, many have established their start ups, etc. so they bring huge knowledge base to this workshop. More importantly they have been selected for their entrepreneurial attitude which we think is very important.”

     

    In a prepared statement Mr Sawhney stated, “12 start-ups will receive initial funding from GSF this year. This is the single largest funding platform for the Indian start-ups. GSF Superangels will provide further funding to a few start-ups at the end of the program. The 12 start-ups will also be showcased at the GSF2012 (The Second Global Superangels Forum) on November 26 and 27, 2012, where 400 leading early stage investors from across the world will meet start-ups.”

     

    When asked about expanding the initiative to newer cities and towns, Mr Sawhney said that while Mumbai, Delhi and Bengaluru are the three big hubs for startup companies, expansion to newer markets is also on the horizons for 2013. “We believe in India the three big hubs for start-ups are Delhi, Mumbai and Bengaluru hence we would be keen to look at other markets only based on our experience this year”, he said.

     

    So, with more start-up companies setting up in India in the near future, what impact will it have not only on the digital economy but, the Indian economy as a whole? “What we are not seeing in India is more innovation and therefore many of the startups are not able to break-through in the overseas market. We are looking for those kinds of stories which have the potential to break through to global audience, so that is the key impact a startup should have. The problem however is that the venture community is not getting enough high quality startup companies. So, I think it will be a very significant effort in the way the startup eco-system gets shaped in India in the coming years,” observed Mr Sawhney.

     

  • Fever 104 FM and Reliance Commercial Finance has launched Fever iDream, which will give budding entrepreneurs an opportunity to earn Rs 25 lakh

    Fever 104 FM & Reliance Commercial Finance launch iDream

    By A Correspondent

     

    Fever 104 FM and Reliance Commercial Finance has launched Fever iDream, which will give budding entrepreneurs an opportunity to earn Rs 25 lakh. Fever 104 FM, which is said to reach over 15 million listeners across key metros, aims to provide a platform that will enable people to realise their business aspirations.

     

    Launched on September 3, 2012, Fever iDream is a campaign that gives listeners a chance to present a great business idea. The best idea will earn Rs 25 lakh as seed capital to pursue their own venture. Reliance Commercial Finance will sponsor the funding and will give an opportunity to listeners to make their dreams of starting their own SME business come true.

     

    All the listeners have to do is log onto www.fever.fm/idream, fill in basic details and submit their business idea. The jury members will evaluate the submitted ideas and shortlist the ten best ideas from each of the four cities – Mumbai, Delhi, Kolkata and Bangalore. From these 40 contestants, four finalists will further get shortlisted and awarded Rs 2 lakh each. The final round will be broadcast on TV (Bloomberg TV India) where the best deserving candidate will earn Rs 25 lakh.

     

    The jury includes Vivek Khanna, Business Head – Mint, K V Srinivasan – CEO, Reliance commercial finance and Harshad Jain – Business Head, Fever 104 FM. They bring with them years of operational and strategic experience and will be involved in identifying the brightest business idea.

     

    Mr Jain said, “Fever iDream is the first such radio innovation where common people can fulfil their business aspirations and become their own boss. The concept is aimed towards helping budding entrepreneurs who have the capability but lack funds. Reliance Commercial Finance and Fever iDream can change lives and I am sure it will be a huge success”.

     

    Mr Srinivasan said, “There is an entrepreneur in all of us. However there are only a few who dare to dream big, who want to start their own venture, and who have the ability to make it. Radio is a mobile medium and offers cost-effective reach. Moreover we have UTV Bloomberg as the broadcast partner. Together, we want to reach out to a large number of entrepreneurial people and enable the most deserving to live his/her ambition.”

     

  • With Taproot selling 51 percent stake to a transnational advertising agency less than four years after it was set up, we spoke to a cross-section of people in the know, on when is the time right for an entrepreneur to sell out

    TAPROOT! | What would make an entrepreneur sell?

    By Ananya Saha

     

    Some create to sell. Some create to keep. Why would an entrepreneur who has created, built up and nurtured a company, wish to sell it? And given that the reasons are good, what then is a good time for this sell-out?

     

    PV Sahad, Editor of VCCircle, a news website dedicated to covering private equity, venture capital investments and M&A in India, said, “The right time to sell a business depends entirely on the objective of the management or the entrepreneur.”

     

    Mr Sahad added, “Usually, the companies are sold off when the markets are high or if there are suitable buyers for the company. The suitable buyers knock on the doors when the company is at the peak performance stage. This is when a buyer looks at the company and makes a good offer.”

     

    Prof Kavil Ramachandran of ISB Hyderabad opined, “There are various reasons why a company sells out. One, when the entrepreneur gets excited by something more challenging and wishes to move away from something he has established and toiled over. The entrepreneur and/or management might wish to sell out when the Return on Investment (ROI) and Return on Time and Investment (ROTI) for the effort put in seem good in terms of the valuation.”

     

    One more reason could be that the management of the company feels that the pressures of growing the company further are beyond their current means, and the entrepreneur starts to feel that someone else might be able to do a better job, added Prof Ramachandran.

     

    Mahendra Swarup

    Mahendra Swarup, President, Indian Venture Capital and Private Equity Association (IVCA), said that the reason to sell out depends vastly on the outlook of the entrepreneur. “If one’s company is heavily invested or has raised money through IPO, then the compulsion to exit the business is much more.” According to him little or less equity rights with the entrepreneur is also one reason when the companies prefer to sell out.

     

    The companies usually try and scale up their business with the money that an investor (for a stake sale) brings in, or it the entrepreneur wishes to exit the business altogether.

     

    Mr Swarup added that a good time to sell company is also dependent on the entrepreneur. “They can sell when the company is doing well, or is actually not doing well. But usually, companies are sold when the entrepreneur has an alternative scheme of things that can be a new investment horizon or venture.”

     

    Sanjeev Bhikchandani

    Sanjeev Bhikchandani, founder and executive vice-chairman of Naukri.com, said, “There are no general answers to when is a good time to sell a company. The motive to sell depends solely on the goals and objectives of the entrepreneur. If they wish to make a quick buck, they might scale up and sell. If they wish to create a huge company, they might not. The time is decided by the motive of the entrepreneur.”

     

  • Young Turks showcases 24 young entrepreneurs who have made a mark in the society with their innovative thinking and entrepreneurial spirit

    Divya Bhaskar celebrates spirit of Gujarat enterprise with ‘Young Turks’

    By A Correspondent

     

    Divya Bhaskar celebrated the efforts of the young entrepreneurs of Gujarat with the release of a coffee table book – Young Turks – acknowledging the efforts of emerging entrepreneurs in Gujarat. The book aims to motivate audience with the success stories of these entrepreneurs and their never say die attitude, which has helped them to overcome the hurdles and achieve their goals. ‘Young Turks’ is a salute to the young achievers.

     

    Young Turks showcases 24 young entrepreneurs who have made a mark in the society with their innovative thinking and entrepreneurial spirit across fields like Animation, Real estate, Training, Information Technology and so on. The book encapsulates the journey of an entrepreneur. It salutes their indomitable spirit and vision for sustained growth which has contributed to progress of Gujarat’s redefining industry.

     

    Commenting on the release Mr Saras Sethi, State CEO said: “It is aimed to motivate the emerging entrepreneurs with examples of success. Most of these emerging entrepreneurs defy the age factor and have made their mark at very young age with hard work and innovative thinking.”

     

  • Not everyone has the mental toughness required to face up the uncertainties and challenges of a start-up; Vijay Singh lists the traits that get one there.

    The Anchor: 6 must-have traits for entrepreneurs

    By Vijay Singh

     

    There is a newfound zeal these days for being an entrepreneur, and a number of folks are chucking away the securities & comforts of “salary on the 1st” and venturing into the unknown.

     

    Entrepreneurs are the best thing that can happen to a society, economy and country. Entrepreneurs create value out of nothing, create opportunities and fuel overall growth, and they need to be deeply respected for it.

     

    However being an entrepreneur is the toughest job in the world. There are no cushions; no soft landings and the failure rates are very high.

     

    In an environment where most won’t make it, while luck might play a huge role, there are other traits that I believe an entrepreneur must have to break through:

     

    #1 Imagination: A good entrepreneur sees not just the big picture but well beyond the picture. He / she needs to imagine ideas that will create solutions to obvious and everyday problems.

     

    #2 Foolishness: Now made famous by Mr Jobs’ speech, foolishness is a virtue that is a must have, to pursue a dream that others don’t see, understand or give a damn about.

     

    #3 Stubbornness: An entrepreneur lives in a lonely and often unkind world – especially in the early years. There are, more that you need, armchair advisors and critiques that would question the validity everything starting from the macro business environment, to the business model, to scalability, to ability, to sustainability. The entrepreneur needs to stay the course with persistence.

     

    #4 Willingness to evolve: While staying the course, it is important to learn from mistakes and spot opportunities along the way and evolve into a better idea. It is my view, however, that one should stay true to the original & pure DNA of the idea and not drift at every opportunity (or failure) that pops up, as there would be plenty of both.

     

    #5 Team: As an entrepreneur one you get into every aspect of the business, however, to do justice to the organization that you are going to create bring in specialized talent for specific roles and ensure they are better than you at that task.

     

    #6 Passion for the idea:  Take up your entrepreneurial journey for the right reasons – the reason being absolute belief and passion for the idea that you have imagined. If one feels deep down that the passion has started to drain, that is the green light to quit and maybe take up a lucrative 9-to-5 assignment.

     

    Not everyone has the mental toughness required to face up the uncertainties and challenges associated with a start-up; however, it is my belief that everyone with a real passion for an idea will acquire that toughness over time and they should jump in.

     

    Professionally let me assure you there is nothing more fulfilling that to create something of value – out of nothing.

     

    Vijay Singh is the CEO & Managing Director, AaramShop, and can be followed on Twitter @vijaysingh.

     

  • Raj Gopal Iyer's tips for setting up shop – and excelling at it.

    The Anchor: 5 skills you need to be a successful entrepreneur

    By Raj Gopal Iyer

     

    #1 Plan, stay organized and focused:

    It’s important to be absolutely planned with regard to the various aspects of the business. The more you plan, the better. Creating an effective organization with systems and processes are the key to success. The entrepreneur should be focused on the objective.

     

    #2 Be customer-centric:

    The customer is king. Happy customers will make an entrepreneur successful, for sure.

     

    #3 Have nerves of steel:

    This is an absolute necessity for being a successful entrepreneur. An entrepreneur is faced with many challenges, he/she needs to have strong will power to face them and succeed.

     

    #4 Hire the right people:

    People are extremely key to the success of an organization. A successful entrepreneur is someone who has the right people to manage the business.

     

    #5 Enjoy what you do:

    Finally, a successful entrepreneur is someone who enjoys what he/she’s doing. He/she should have the passion for it. Success will naturally follow!

     

    Raj Gopal Iyer is the CEO, Blue Ocean Media & Consulting.

  • India’s biggest Business Reality Show The Pitch is back, as BloombergUTV invites entrepreneurs to enter Season 2, with the potential to get funding up to Rs 5 crore.

    The Pitch returns to Indian TV

    By A Correspondent

    BloombergUTV, India’s premier business channel, today announced Season 2.0 of The Pitch – India’s Biggest Business Reality Show. The channel is inviting potential entrepreneurs with sound business ideas to send in their entries through www.yourmoneysite.com/thepitch. Surviving a gruelling series of tasks given by India’s biggest business leaders, the winner stands to receive a funding up to Rs 5 crore to execute their business plan.

    The Pitch aims to identify, evaluate and encourage potential entrepreneurs who not only have the most deserving business ideas, but also possess the critical skills required to execute those ideas successfully. Following the nationwide call-for-entries, a jury comprising of highly renowned professionals will shortlist the participants who will be called to make their elevator pitches in Mumbai. The jury and angel investors will closely evaluate these shortlisted aspirants not only on the merit of their business pitches, but also on their individual brilliance and identify the finalists who will appear on Season 2 of The Pitch.

    Mr Deepak Lamba, Business Head, BloombergUTV said, “Through this show, BloombergUTV continues to strengthen its commitment to enrich the business news viewing experience. We encourage the spirit of entrepreneurship in the country and the response to Season 1 of The Pitch goes to prove that there is no dearth of ideas in the country. We will not only identify the next big business idea but also the most deserving entrepreneur who has the right balance of all the necessary elements required to succeed out there.”

    To enhance the experience of The Pitch, BloombergUTV has established strategic partnerships, each adding a distinct value to the proposition. The Centre for Innovation, Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A); The National Entrepreneurship Network (NEN), LinkedIn are among several organizations and communities who have joined this unique platform to promote entrepreneurship in the country.

    This season of The Pitch is presented by Samsung Electronics and will see participants benefiting from the multiple features and utilities of the Samsung Galaxy Tab 750, from using the wireless keyboard to prepare for their documents to presenting directly from their tabs and of course receiving their tasks.

    Aspirants can send in their entries through www.yourmoneysite.com/thepitch or SMS PITCH to 59995 | ZipDial 022 33010050 for more information. The Pitch is scheduled to air exclusively on BloombergUTV from November 2011.