Angel Investors in India

2 03 2009

If you are an entrepreneur and looking for some Angel Funding, the below is a list of Angel Investors in India:

Indian Angel Network
Accel Partners
Ojas Ventures
SeedFund
Axon Ventures
Mercatus Capital
Epiphany Ventures
Garage Again

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HeadStart – Compute 2009

14 12 2008

HeadStart has been our annual event for showcasing Startup Talents in the country. We started organizing the annual event since 2008, along with ACM (Association for Computing Machinery) Bangalore Chapter.

Why HeadStart and ACM?

HeadStart is a community of Entrepreneurs, Investors, Industry Professionals and Evangelists. We came together to contribute back to the community which has brought us to this level and given us lives.

ACM is a focused group which concentrates on future of technology and how it fits into today’s world.

As an Entrepreneur, it is very important for us to understand the Business Model, writing the Business Plan, speaking to Venture Capitalists and Angel Investors, bringing the product/service to the end user, legalities in building your organization, employee management and last but not the least – the future of your innovation.

You have a cutting edge idea and you are excited about it. You speak to various stakeholders and lo! you idea has hit everyone. What next? You are starting up your baby. That’s great news. One important and key aspect you need to consider is what is the future? Today, we see many Insurance companies advertising –For your retirement solutions and your child educational / child future plans, do contact us. In the same way, you need to understand the future of technology to ensure safety and security to your baby (your enterprise) and yourself. We feel safe when we have life insurance and few plans for our children, but we ignore our tomorrow.

Yesterday, I met an aspiring entrepreneur and he invited me to be his Devil’s advocate (I am not going into details of his idea or our conversation with due respects to him). He shared his idea with me and I honestly did not see a tomorrow in that. I did not see a strong bonding of the idea with the stakeholders. But he is passionate. Passionate about the idea and his tomorrow. I am sure he would succeed in what he is doing, but definitely few of my questions have kept his bells ringing.

During HeadStart – Compute 2008, we had two eminent personalities from GE to speak on the future of Database. The two scientists shared their research information on how the future of Database would change. This is what is needed for an Entrepreneur.

A classic example of not looking into the future is the Y2K. Many organizations realized and started working on this issue a bit late in the 90’s. What if these organizations had the guidance to think about this earlier during their startup stage? Things would have been different. If everyone took the necessary precaution, I am sure there would not have been many people who would have got job’s in the west during late 90’s.

HeadStart and Compute are dedicated to create the perfect ecosystem for Entrepreneurs. If you recollect the Project Triangle, then it is very easy to relate to what we do. We do exactly the same – Ensuring for a healthy startup focusing on the key parameters – Technology, Capital and Eco-System.

HS Model

Be there on the January 09-10, 2009 and participate to help create the ecosystem for Startup’s.





Startup Saturday 1/2/3 – 2008

14 04 2008

After a long time, I am back in action with my blogging. However, I am back with some real good information which could definitely help you if you are looking at understanding and being part of Entrepreneurship eco-system in India, especially , in Bangalore.

As you are already aware of KickStart, our initiative to support Entrepreneurship and its activities, I will not dig deep into them; but would highlight our new activity – Startup Saturday.

SS

Our main motive behind this activity, is to provide a platform for entrepreneurs and entrepreneur wanna-be’s to come together and discuss various aspects of entrepreneurship. I know I am being a bit vague here, but I can assure you of what I wrote. We wanted to have this as a monthly event and started of the activity in February 2008. Startup Saturday happens on second Saturday of every month at the Indian Institute of Management campus in Bangalore. This is completely supported by NSRCEL, the incubation center of IIM B. Along with discussion, we provide a platform for entrepreneur’s to showcase their innovation to fellow entrepreneurs. Total time allocated for this event is 3 Hours.

We had 3 Startup Saturday’s till date and below is a summary of each of the Saturdays. I could not attend the second one, and hence will not speak about it much 😦

Startup Saturday – Feb 16, 2008

This has been our first SS and we have been a bit tensed with the number of attendees who would turn up. We did no great marketing for this event, just used all mailing lists we have been part of. We invited Prateek and Nitya of Muziboo to speak of their experiences and it was very nice of them to accept our invitation and be part of the first event (knowing the uncertainties of attendees and the organization of the event).

There were around 25 people who joined us to share our passion. The room is full and the atmosphere is exciting on this warm Saturday morning.

Here is a summary of their experiences…

Muziboo is an online music community with more than 1200 registered members and 1000+ music uploads.

Features of Muziboo

  • You can join for free
  • Upload your music
  • Tag yourself and your music
  • Comment music
  • Create, join, write on music groups

Growth Plan

  • To be 10,000 users by end of 2008
  • More channels for consumers
  • “One stop huddle” for music

Competitors
None as on date
Soundclick, Esnips come close

Few questions asked by audience…
Do you want to build Muziboo as a brand/comapny?
Prateek – Brand.

How many are writing code for you?
Prateek – Only me. Have been using Ruby on rails.

Can I just listen to music and not signup?
Prateek – Definitely.

How much did you sunk in till date?
Prateek – Less than Rs. 40,000.

How are you marketing?
Started with Orkut. Searched with “music” and scrapped each of them individually.

What amount of traffic is from search engines?
Prateek – Around 30%-35%.

Do you want to start your own Radio channel?
Prateek – Yes.

Prateek – We are also working on creating an online music composition tool which will help musicians to record online and upload.
Even though I did not sign-up to submit my music composition 🙂 I like the concept and I on behalf of KickStart team wish Prateek and Nitya all the very best in their endeavor. If you have not yet visited Musiboo, it is time you go and have a taste of good music.

Startup Saturday – March 09, 2008

As I mentioned earlier, I missed this event, but I know that it has been an exciting one and there were close to 50 participants this time – a whooping 100% increase 🙂

Startup Saturday – April 12, 2008

This has been more streamlined. We had the SS website up and made this a wiki which will help people to register if they were coming to the event. We had 91 registrations on the site and close to 50 attended the event.

Ms. Dhanya Menon, a startup legal expert and partner at ALMT Legal, Bangalore accepted to speak on Term Sheet. Here are some notes I made during her talk.

What is a Term Sheet?
Term sheet is an ‘indicative’ document.

What is ‘indicative’?
Indicating the terms and conditions of the venture.

From an entrepreneur’s perspective, a term sheet is very important – I will not go to any other investor, discussing about investments in the organization.
One needs to be very clear about the terms and conditions in the term sheet, and without one, no investor would invest without a term sheet sign-off.

While there is a term sheet signed off between investor and entrepreneur and in-between (with in the time lines), if the entrepreneur goes to another investor and signs a new term sheet, the first investor has all rights to sue the entrepreneur.

Clauses
1.Breach of Contract (Exclusivity)
2.Confidentiality
3.Drop-debt fields (What ever expenses investor have incurred in this contract, the entrepreneur needs to repay)
4.Public Announcements
5.Term Promoters
6.Size of funding (try to mention money in INR)
7.Valuation

What is the typical timelines in term-sheet.
Between 3 – 6 months.

Promoters
Only people who run the organiation on a day-to-day basis should be calld ‘promoters’.

Right of first refusal (RoFR)
Right of first offer (RoFO)
Series B investment should not happen immediately. Focus should be on business. The investor can make the clause for series B funding.

What are definitive documents?
Share subscription document
Employment agreement

Anti-Dilution
This is not good from investors perspective.

PS: I know that my above notes are not very information, however, I will work towards getting more structured information and post more information on Term Sheet as I learn about it more in detail.

Along with her knowledge sharing session, we had a demo of Storzz by Chandan Maruti, CEO of the startup. Storrz is an on-line mall. Yes, I used the term “mall”. Even though there are many differences in a real mall and a virtual mall, this mall gives you the flexibility of serious shopping. If you are looking for a particular product and looking for its rating in the market and customer feedback, this is the place to go.

Storrz is created as a platform for opening a virtual mall. If you have a business, and want to sell on-line without any hazels of creating an online shop, Storrz is the place to go.

You will be surprised with what is available on Storrz – From vegetables to groceries to Camcorders and Digital Cameras and with price comparison along with customer feedback. Check out the site and experience for yourself.

If you want to keep yourself updated about KickStart activities, please do sign up for our mailing list and I am sure you would benefit from it.

The next Startup Saturday is scheduled for 10 May 2008. However, on 19/20 April we have BarCamp Bangalore 6 coming up. So, stay tuned and be there.





HeadStart 2009

29 01 2008

HeadStart 2009 is going to be organized on the 9 / 10 /11 January 2009.  Details will be published at the earliest to provide you with ample time for the preparation.

If you are an aspiring entrepreneur, entrepreneur, student, industry leader or an academician, you need to be there. Please visit HeadStart for more updates and join Friends of KickStart mailing list to receive updates regularly.





HeadStart – Testimonials

21 01 2008

During the closing session of HeadStart, there were loads of comments which came in from participants present there. I am not going to write them here, but will consolidate and get them at a later stage. Also, we have received few emails personally. This is the first time we organized this and these feedbacks motivate us to do more. If you have any feedback regarding our “need for improvement” do not hesitate to send us and we will try to work on them. If you would like to keep hearing from us, please subscribe to friends-of-kickstart.





HeadStart Day 3 – Afternoon Session

20 01 2008

Afternoon session started with Mr Deepak Srinivasan‘s thoughts on Product Management.

Role of a Product Manager:

  • Owns the business plan of the product.
  • Has a 360 degree view of the prodcut
  • THE go to resource for all questions, decisions
  • Directs Life cycle, Engagements
  • Is the “CEO Jr.” of the prodcut.
  • Creates
    • Spots the opportunity
    • Sells the plan
  • Manages
    • Life Cycle
    • Socialization
    • Executive Board
  • Coordinates
    • Finance
    • HR
    • Sales
    • Development
  • Directs
    • Program Management
    • Product Marketing
    • Internal Evangelization
    • Business Development
  • Product Requirements Document
  • Market Requirements Definition
  • Role in Innovation
    • Socialize – Meet people and talk to them
    • Gather – Listen, Find, Stimulate and Conveive
    • Culture – Receptivity, Recognize and Rejection
  • Hiring
    • Engaged
    • Passionate
    • Reflective
    • Gatherer
    • Hunter
    • Visualizer
    • Communicator
    • Integrity
    • Rule Breaker
    • Leader
  • Product Management 2.0
  • Markets have changed forever
    • A segment of One
    • A Million Segments
    • All need addressing
  • Delivery has changed forever
    • Real-time
    • Re-usable
    • Re-combinant
  • Real-time PM
    • Strategy
    • Delivery
    • Operational
  • Startups
    • Help replicate thinking
    • Helps reduce I/O, improves productivity
    • Engineering delight
    • Independent voice to Shareholders, Board
    • Greatly improves chances of success
  • Grow up
    • PMs most often manage people that outrank them or dont report to them.
    • CEO, Executive team should communicate and reinforce the universality of the role.
    • Share the role and introduce the PM to your Board of Directors.
    • Have project, program management and product marketing report into PM.
  • So you reap..
    • Its never 2 early, its habit forming – that’s good
    • Retrofitting a PM culture is often impossible
    • PM’s make some of the best founders, CEO’s
    • You owe it to your business, your shareholders.

Deepak recommends Crossing the Chasm for understanding how to sell to customers.

You can write to Deepak at deepak {AT} mobiance {dot} com

Cost based funding and Startup Culture – Ashwin Masheh, MapUnity

  • Recipe for Success 🙂
    • Don’t have any money
    • Want to retain autonomy/control
    • Want to survive, even prosper
    • Want to work with large firms and develop scale
    • Want to attract talented people at affordable pay
  • Problem with selling
    • Pre-conceived ideas of rich/poop and their needs
    • Cash cow syndrome
    • Low impact, as a startup
    • Financial uncertainty
    • Cultural implications
  • Technology Ecosystem
    • Offline workbench
      • Client-side software that can allow data to be created offline, and synced with online platform data.
    • Independent, domai-specific APIs
      • OpenLayers-based application interface allows other software developers to build on top of the Mapunity platform. Custom APIs for specific domains – traffic, shopping, health, etc – will also be developed
    • Geo-search and indexing
      • Hierarchical as well as spatial searches possible, as is searching across databases and communities hosted on single platform.
  • GIS Telecom synergies
    • Call origin Mapping
    • Mobile data collection and query
    • Device-linked software development
  • Other focus areas of MapUnity
    • energy hub
    • mapmedia GIS
    • e-City
    • udhavi
    • relief GIS

This concludes the 2 day HeadStart for 2008. Look for more updates on http://www.HeadStart.in and http://www.KickStart.in

Do write to me (hari {AT} kickstart {dot} in) or leave a comment on any of these posts if you want to get in touch with our team.





HeadStart Day 3 – Morning Session

20 01 2008

Here we are; the last day of HeadStart 2008. The morning session started with key note presentation by Dr Peter Hofstee, Chief Scientist, IBM Research at Almaden Research Center, USA on Cell Broadband Engine.

Srini Vudayagiri LightSpeed VenturePartners

  • The largest Venture Capital is Bombay Stock Exchange (BSE) with $1.2 Trillion in portfolio
  • Create a value for Stakeholders is the key in Entrepreneurship
With wireless sleep technology, people in my dreams can sent email to people in your dreams 🙂
  • Screening Ideas: 5 Questions
    • What important customer problem can you solve?
    • How are you going to do it?
    • How many customers are there that are willing to buy from you?
    • Why can only you provide the solution?
    • How can you defent against others?
  • Identify stakeholders – Who are they?
    • Do i want to become famous or do I want to be rich?
  • Identify Consumers
    • Consumers for Mobile space today in India are majorly in ABCD (Aaya, Bhai, Carpenter & Driver) consumer segment.
  • Funding Partner
    • Startup costs
    • Marginal costs
  • Capital / Financial Markets
    • M&A options for growth
    • Exists
    • Scarcity value: education/retail
    • Liquidity – local/global
  • How many Digital Signage companies got funded in India in last 5 Yrs? – 6 Companies
  • Employees
    • Talent Pool / quantity
    • Perceived positioning of sector
    • Compensation
  • Regulators
  • Analysis of Business Ideas
    • Truly new, novel and innovative ideas < 3%-4%
    • Rest 96% are Enhancement to existing ideas
  • Few thoughts of Srini
    • Most businesses fail in les than 2 years
    • Less than 1% of the business plans submitted to VCs get funded
    • Failures are PLANNED by lack of planning
    • VC funding does not mean me the business is path breaking/disruptive.

You can write to Srini with any questions/project proposals – srini {AT} lightspeedvp {dot} com

Startup Funding – Ganapathy Subramaniam, myDuniya

  • Entrepreneurship
    • Possessed by a Grand Vision
    • Market driven approaches
      • Products for a upcoming market
      • New ways of addressing an existing market innovative delivery
    • Capability Driven approach
      • Build a compelling busines model
  • Funding sources
    • Seed Investors (Friends, Family, Angel Networks, Early Stage VCs , Corporates, Incubators, Customer, Partners)
    • Venture Capitalists
    • Special funding programs (TDB etc)
  • An important aspect of checking your business plan is going to Seed Investors.
  • VCs Checklist
    • Vision Congruence
    • Large and growing opportunity?
    • Tam fully committed to the cause?
    • Experience relevant and sufficient?
    • Can the business model be validated?
    • Is it scalable and defensible?
    • Are the risks acceptable?
    • How can the risks be mitigated / eliminated?
  • VC Interaction Challenges
    • Small no. of deals get transacted per partner/firm/industry
    • Getting to reach/deserved attention is tough
      • Art of getting introduced
      • Elevator pitch
    • Research/Reference/Focus
    • Selling the idea to the partner/firm
  • VC Engagement Cycle
    • 3-9 Months for fund raising
    • No/interesting in a week
    • Multiple intensive interactions
    • Progress to Term sheet in 4-10 weeks
    • Closing in addition
  • Valuation
    • Rule of thumb/comparables
    • Competition/market factors drives prices
    • Serial entrepreneurs get a healthy premium
    • Alighment of interest and balance of motivation
    • Valuation + Conditions!

With this, the morning session concluded. Its lunch time. In thepost-lunch session, we have Product Management by Deepak Srinivasan and Cost based funding & culture in startup’s by Ashwin Mahesh. So, stay tuned.