Find out what emerged when the Geeks met #Dilliwallas #GOAP

It was a usual Thursday morning, chaos at the Mathura Road, but once you got on to the 91SpringBoard office, you could feel the aroma of the paints, etc in the new office which is beautifully done and very colourful. Few guys were sipping their early morning coffee and some interactions by entrepreneurs and some folks who usually give gyaan to them:). Few minutes and you could see the geeks walking in, interacting the dilliwallas and then also trying to figure out a space where they can settle down.
Yatin from MoonLighting kicked of the session and the Geeks introduced themselves to the #dilliwallas. We had around 50-60 startups from dilli who were here to meet with the Geeks….some of the best startups in NCR were present and we had the Bangalore Product guy – Sharad Sharma who was there to set the ball rolling. He started his talk on how entrepreneurship is happening in the small cities of rural India, software products are being made in this New India. Delhi, Mumbai and Bangalore are seeming to be focusing on fixed templates, whereas the rural India’s innovation are more creative disruptions and they seem to be focusing on problems and therefore providing solutions to these problems. The guys in the smaller cities and rural areas are keeping a more open mind and are more willing to weather the storm and be persistent with product.

Don’t be dismissive of Small cities or Rural India, in the next 3-5 yrs the best start ups would be from here. A Revolution is happening in India similar to the mobile revolution – that is to do with the software as a service. Service being used by wide variety of segments from a big multinational to a small business. It is happening at a price point that will fit each and every need that is out there. India’s future is dependent on its small scale sector transforming itself and becoming competitive over time which is  based on three things –  The democratization of productivity which is happening of the mobile phones, democratization of  best practices which is going to happen in the software as a service and the third thing is building trust networks. This Revolution needs to be taken to the next level among ourselves by using the open source method which will help the industry to go forward. Creating communities of entrepreneurs to help solve the problems of fellow entrepreneurs. The Entrepreneur needs to give back to this community during the process of being successful and not only at the time of being successful. Sharad Co–founder iSPIRT seems to say what Mahatma Gandhi said of India at just before Independence —India does not live in its big cities but in the smaller cities and villages

Dave from 500 Startups takes centre stage and describes what they do by making a lot of small investments in tune of about $ 1-5 Million. The aim is not to own more than the 5% of the bigger companies. They know most companies may not see the entire life cycle therefore they do their do diligence well and invest quickly. The First tranch is the huge risk but the future investments are based on what they do with that money. Engaging with Communities of specialists in design, data and distribution which act as Elders or Mentors to these companies  help them grow. Usually the Distribution / Marketing aspect is the main factor which helps companies being successful.

Concepts of Marketing have changed dramatically compared to change in programming in the last 20 years. Therefore it is important to get the Marketing right. Entrepreneurs need to focus more on Marketing than on the programming. It is very important need to know the customer acquisition cost vis-visa-vie customer revenue being generated and the cost of financing the project for how long. Concentrate on the Indian Market, it will be easier to do business in an environment which you know of rather than a new international market of which you don’t know anything of. Things may not be that settled yet, but it will be in the next 3-5 yrs. Imagine if you are able to build now focusing on India and by the time support services improve, payment channels ease say in the next 3-5 years you as an entrepreneur will be able to go in for the kill. The Fruit will be ripe for plucking. Message : Look Inward and build slowly. Wait for the Time its just round the corner.

The Stage was set after two very insigntful speeches about what is yet to come. Kunal Bajaj then lead a B2B Space Panel Discussion with Ambarish Gupta from Knowlarity, Ketan Kapur of Mettl and Paras Chopra from Wingify  1)    How do you find the right person? Panel: The team was brought together through references and own networks. 2)    How do you market to customers? Panel – Start early, Be Focused and be Disciplined. 3)    How have you raised funds and raised capital? Panel – Raising debt in US much easier than in India. In India the process is Angel Money. But is important to know what your burn money is MOM enabling you pitch it right and get it.  Kunal then lead B2C Space Panel  Discussion with Aloke from Ixigo, Kavin Mittal from HIKE Mobile app, Rajat from SocialAppsHQ.

  • How do you find the right people and keep them engaged?
    Panel – The Challenge is to make people understand what a startup is. The Initial hiring was done through references and interactions through likeminded people. 
  • How do you market to customers and build Brands?
    Panel – Give swops on getting referrals to new clients. Understand your market clearly and go micro and specific.
  • How have you raised funds and raised capital?
    Panel – Raising debt and funds in US much easier than in India. In India to raise funds traction in business is very important. 

By the time the Panel finished answering the questions there was a group of over 55-60 people eagerly waiting to interact with them and the Geeks.