Bootstrap Hyderabad September Meet September 25, 2006Posted by rajAT in bootstrap, entrepreneur, hyderabad, startup.
Bootstrap Hyderabad’s september meet was a big hit. The house was packed.
Mohit has blogged the event here. The pics from the meet are below.
Vishal gave really useful suggestions. ( in pic Vishal, Mangesh, Mohit, Mallaya)
People listening intently to Vishal here ( in pic Anand, Siva Prasad, Rajiv, Amit )
More crowd listening to Vishal ( in pic RK, Vijay)
Anand suggesting that next time we can use big office of pennywise. .
Ritesh Prasad kicked Adobe and is fellow bootstrapper now.
Gyaan sharing going on.
Meeting just rocked. Eagerly waiting for the October meet.
Day 1: TiE ISB Connect 2006 September 24, 2006Posted by rajAT in entrepreneur, entrepreneurship, hyderabad, tieisb connect, venture capital.
Barcamp Hyderabad 2 in Times of India July 28, 2006Posted by rajAT in barcamp, barcamphyderabad, barcamphyderabad2, hyderabad, india.
Article was published in Education Times supplement of Times of India on 24th July.
Can Hyderabad be the next valley @ Barcamp Hyderabad 2 July 16, 2006Posted by rajAT in barcamp, barcamphyderabad, barcamphyderabad2, entrepreneur, hyderabad, startup.
The grand finale of the day was the discussion – “Is mobile the missing link that will make Hyderbad the next Startup Valley”.
Well the motivation for the topic was that people in India are going to leapfrog to mobile phones. There are 100 million mobile phones in India at the moment. So many people have experienced digital content for the first time on the mobile phone. These are the few reasons that indicate that this be a hot area in India for next 5-10 years. The next google in India will be a mobile startup and not an internet based business.
So through this discussion the aim was to find out the pain points that entrepreneurs face when they start a company in this area.
We invited Mr. Kiranbir Nag (VP-SVB India Advisors), Ms Anuradha Acharya ( Founder / CEO of Ocimum Biosolutions ), Mr Ja Chaudhary ( President, TiE Hyderabad), Mr. Devendra Surana ( Surana Industries) and Prof Vishal Garg ( IIIT – H) to brainstorm on the topic.
Professor Vishal Garg made some points like in India nobody wants to pay money for the software. Software for mobile is sells at very low prices and that doesn’t make it a good business proposition. He quoted couple of personal experiences where he has completed the POC for mobile but the client backed out at the last moment.
Mr. Kiranbir Nag suggested the budding entrepreneurs to stop thinking from the technical perspective and start thinking from business perspective. He gave some thumb rules that an entrepreneur should ask himself when he starts doing something. Whose paint point I am solving ? Is it a cancer or a headache ? If it is a cancer then great but if it is headache then the technological solution should be out of the world. He also gave couple of other very useful tips to the entrepreneurs. I guess he was carrying a cheque book in his pocket .
Mr. Devendra Surana said that in India people doesn’t respect IP. The ideas are not valued and people try to copy them or de-engineer them if you show something new to someone. Ms Anuradha also shared some of her experiences reflecting the same attitude here.
Mr. Ja Chaudhary announced that TiE-ISB connect is a great forum to present early stage ideas. He also highlighted the various initiatives that TiE has taken in past to promote entrepreneurship. Mr. Farhan who is also a TiE charter member than shared a very interesting story of how Teleonto technologies got funded. I will cover that fully in some other post.
The crowd also participated very enthusiastically.
Pre Barcamp Meet June 22, 2006Posted by rajAT in barcamp, barcamphyderabad, hyderabad.
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There is a Pre Barcamp Meet this Saturday – 24th June
Time – 11 AM
Venue – Cafe Coffee Day – Jubilee Hills ( Opp. to Barista )
All are invited.
Lets drum that place
Risk Capital in India June 20, 2006Posted by rajAT in bangalore, entrepreneur, entrepreneurship, hyderabad, IIIT, iit, india, isb, startup, tie, vc, venture capital.
Rafiq Dossani from Stanford and Asawari Desai from TiE has written a report on what is holding the growth of risk capital in India [Via Venturewoods]. Below are some of excerpts from the report and my supporting thoughts on it.
Over 90% of the money invested by VC firms is in late state ventures. And the remaining More than 90% of the money invested in VC firms in India ventures lie in the category of late stage funding. The rest of the funding also goes into the firms who are replicating proven business models. Hence, the risk capital as such is totally absent in India. There are multiple reasons for such a scenario -
1. Domestic Risk capital providers who are skilled at risk assessment and portfolio diversification lack technical skills and market awareness.
This is very true. Most of the HNI (High Networth Individuals) one will find here will be from IT/ ITES industries who will have little or no clue about what is latest in the industry. Some of them who might be able to dish out the names of hottest startups like Riya, Skype (now eBay), Flikr (now Yahoo) etc. but they won't have clear idea as in why they are hot.
2. Early-stage entrepreneurs, though skilled at cost-control and technology, lack market awareness, product development skills, global standards of professional and ethical behavior and team building skills.
a. Some of the entrepreneurs here will simply try to replicate what has been done in US without understanding the whole idea in depth.
b. Early startups will not have discipline which is essential to certain extent.
c. The ideas that they are chasing can get changed very radically because some other quick opportunity will knock their door. Mostly in services side.
3. Inadequate pipeline of angel/university/state funded seed-stage firms.
Univeristy funding or support is happenning at few IITs (Bombay, Chennai) very actively. Now IIIT-H has also started supporting startups. But a wider penetration will take a lot lot more time.
You cannot create a vibrant entrepreneur community in pockets. If Stanford students were crucial in creating Sillicon valley than students from other universities have also played a very important role. All top 100 univs in US have an active Incubation cells. This imbibes a spirit of entrepreneurship in the students right from the beginning.
4. Seed and early-stage entrepreneurs’ professional networks consist primarily of a few strong personal connections and brokers. A wider network of professional associates, incubators and prior-stage financiers, is largely absent.
TiE is the only entrepreneurship network in India. It has chapters all over India, but TiE Bangalore is the most active one. Recently it launched TiE-EAP which is great foot forward. ISB in Hyderabad is also trying to build the same along with TiE Hyderabad and IIIT-H.
At grassroots alot is happenning now days. All Tier 1 IT hubs (Delhi, Hyderabad, Chennai, Bangalore, Mumbai, Pune) have successfully organized Barcamps which were hugely successful. A small step but can go a long way as it gives a platform to the like minded to come and meet.
5. Underdeveloped equity markets for listing early-stage firms.
All big internet companies in India get themselves listed at NASDAQ or NYSE. This shows that Indian investor is not ready for the new age companies.
6. Shortage of complementary capital, such as debt capital.
Organized debt markets in India doesn't exist. One can get debt from improper channels at very high rate of interest. Mr. Finance minister are you listening.
7. The business environment discourages sophisticated standards of – corporate governance.
8.University-Industry partnership was an alien concept 5 years back. Corporate India is still trying to discover how such alliances can affect its topline.
9.Domestic consumption of IT is not very high. When labor is cheap why bother about IT. This is the mantra at most of the organizations.
10. Bureaucratic, regulatory, legal and tax hurdles affects smallers VC firms and angel investors. Need of the hour is such firms and not big ones. Read my views on it here.
Well this all means we have long way to go. And we will go .
MoMo rings into India June 20, 2006Posted by rajAT in bangalore, hyderabad, india, mobile monday.
Full DNA page can be viewed here.
PS: Mobile Monday Hyderabad will be announced at Barcamp on 15th.
VC delegation visiting IIIT Hyderabad June 19, 2006Posted by rajAT in entrepreneur, hyderabad, IIIT, india, vc, venture capital.
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A VC delegation is visiting IIIT-H campus today. few of the names I came to know are-
Mr Gordon Campbell founded and operated a number of Silicon Valley technology companies. He established Techfarm, Inc. and Techfarm Ventures as models for partnering start-ups, creating cutting-edge technologies, with seasoned managerial and financial experience.
Mr. Lauro has 25 years of engineering, operating and venture capital investing experience in the IT, electronics and semiconductor sectors. Prior to joining Techfarm in 2005, he was Managing Director at Wasserstein Venture Capital.
Laura Onopchenko joined Techfarm in July 1998 from 3Dfx Interactive where she was the director of investor relations and business development. During her tenure at 3Dfx, she positioned the company, to the institutional investment community for an initial public offering and a successful secondary.
Sateesh Andra is a seasoned entrepreneur and executive. Sateesh co-founded Euclid in 2000, a leading provider of IT Management Software that enables Global 2000 companies to align IT spending with business priorities. He has launched an India focussed Angel Fund. He is based out of Hyderabad.
Hyderabad Bloggers Meet June 7, 2006Posted by rajAT in blog, bloggers, hyderabad, india, meetup.
It was a initial kickoff meet.
We are planning a bigger meet somewhere around June end.
So all you hyderabadi bloggers drop a comment.
Also watch this space.
A meet up will be announced soon.
Hyderbad Metroblogging May 30, 2006Posted by rajAT in andhra pradesh, city blog, hyderabad, india, metblog, metblogs, metroblogging.
Great news. Hyderabad Metro blog is live now.
Metroblogging is the largest and fastest growing network of city-specific blogs on the Web, with almost 50 active sites. From San Francisco to Bangkok, from Karachi to Toronto, Metblogs are a hyper-local look at what's going on in the city. Our hand-picked core of regional bloggers give each site a new perspective on daily life; less calendar listings, more friendly advice. With Metblogs, you can read about life and times in your neighborhood, your favorite places to visit, places where you've never been, or get a feel for them all with the daily "best of" blog on the hub at metroblogging.com.
Sean has reported that with the launch of Hyderabad, there are 4 metblogs in India, making it the most metbloged country outside of the US, followed by Pakistan and Canada both with 3 cities. Other metblogs in India are Banglore, Chennai, Mumbai. Kolkata and Delhi are missing. I think kolkata is on a strike and delhi is busy shopping .
Btw, all you hyderabadis out there if you want to contribute you can apply here.