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SaaSx Chennai Express – Board this Train Now!

I am Amit – running a SaaS venture Interview Mocha, a pre-employment skill testing company. In this blog I am sharing my learning from SaaSx and how it helped me achieve product-market fit and grow my company fast.


As they say, “a startup’s life is a roller coaster with ups and downs”, this ride has not been easy for me either. Just to talk in numbers, in the first 1.5 yrs of our existence, we were able to add only 22 customers and that too mostly from Pune, our home-ground. While in last 6 months, we have been able to add over 100 customers from 11 different countries. Needless to say – SaaSx has played a major role in helping us achieve this. Hence, I would like to share my journey and learnings from SaaSx with the larger community of SaaS people out there.

My SaaSx journey started when Prasanna advised me to visit SaaSx-1 in Chennai and Avinash was kind enough to allow me immediately. I had one more reason to visit Chennai – to meet Krish (my mentor).  I am happy to thank SaaSx, Prasanna Microsoft, Suresh  Kissflow, Krish ChargeBee and Girish Freshdesk who are constantly acting as a source of knowledge and guidance for me.

Interestingly, I found something common about all of them and you know what that something is…They are all from “SaaSx” and they are all from “Chennai” .

So now I can say that “SaaSx Chennai Express” is changing my (Interview Mocha) life completely and moreover this Chennai Express journey is a lot safer than Shahrukh Khan’s Chennai Express as there is no Tanghaballi (villain) here, only heroes :-)  and you still get your sweetheart Meenamma (Success).

Krish has helped us grow our daily leads from 2 to 10 leads a day. Suresh helped me multiply this number by his personal mentorship and playbook on Nuts and Bolts of Marketing & selling SaaS products to US customers from India for First Timers. Girish’s Talks always makes me think – how this poster boy of Indian SaaS knows all my key problems and their solutions. He narrates everything as if he is my personal mentor helping me sharpen my SaaS business skills.

So, here are the key takeaways, learning and some food for thought from my interactions with these SAAS champs:

1. Focus, Focus and Focus.

Focus on customer pain (mother-problem(s) you are solving that customers care about). Focus all your efforts to solve these problems the best way possible.

2. Your Product has to be Superb.

Customer success, Word of mouth and “Mouth of word” are the key for SaaS products and which is not possible without a superb product. Product is the core – keep it in mind.

3. Product Market Fit.

Your product needs to achieve a product market fit for adding customers quickly and scaling further. This is the first good thing that can happen to your start-up. Product/Market Fit is the degree to which a product satisfies a strong market demand. It has been identified as a first step to building a successful venture in which the company meets early adopters, gather feedback and gauges interest.

4. Cold Calling 2.0 doesn’t work.

Cold calling 2.0 won’t suit your economies for B2B companies with less than $ 2,000 annual revenue per customer. Though cold calling 2.0 is a great predictable way for pipeline generation, however it is not suitable to scale when you are charging very less annually.

5. Do not rely only on Email and Chat Support for closures.

Talk to signups/prospects over phone. We are 100% inbound till a person signs up. Talking to users helped us increase engagement with prospects and in turn more closures. Also, you get the insights that your sales team needs to understand.

6. Founders – Change the work timings if you are targeting US.

Analytics do help you understand customers but nothing better than talking to customer themselves. Quicker responses means more business.

7. SEO and Content Marketing are compulsory.

Content is King  & SEO is the way.  One or other traction methods may work, you can refer the list of all traction methods – google “Bullseye framework traction trumps everything”.

8. SaaS is Software as a Service.

Focus highly on support activities and customer success. Get immediate reply policy as a part of company’s DNA. Remember “Fast is Success”.

9. Understand behavior of SOHO, VSB and SMB for sure.

Each customer segment has its typicality and common needs. Understand their pain points, where they hang out over internet, how they buy, what makes them happy. Targeting big deals from enterprises in initial days may not happen. One funny thing, we have a few fortune 500 companies as our customers paying us $49 p.m. these are SaaS enterprises (business units) and not classic enterprises.

10. A/B testing is the way for SaaS companies.

What works and what works better – don’t assume much. Try A/B every now and then.

11. Tools help.

Start exploiting Mixpanel, Intercom, Moz etc.  being a SaaS player, trust and adopt SaaS.  These tools are helping us a lot in reaching, understanding and communicating with customers.

I consider the above points as extremely important for any SaaS business. I strongly recommend becoming a part of SaaSx community, if you are a SaaS startup in India. Chennai Express passengers/ drivers (Prasanna, Krish, Suresh, Girish, Avlesh, Paras, Avinash and many more) are easy to strike a conversation with, ask any question and receive immediate valuable responses.

Recently, I attended SaaSx-2 and acquired a new set of learnings. But I’ll wait to write on those learnings till I execute them successfully. And yes, looking forward to add 500 more customers before I board SaaSx-3 :-)

Thanks SaaSx Chennai Express. Wishing All the Best to all Indian SaaS Start-ups!

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SaaSx2 – The Afterword

SaaSx2 just got over last week, and we’ve been talking to several people who attended about what they liked, what they didn’t, and what they might want more of when we plan SaaSx3.

We have the ratings from the attendees and also several testimonials that we pored through to get these up for you.

Fireside Chat 1 : Aneesh with Ahi & Asha Fireside Chat 2 : Girish with Sumanth Onething Series by Shekhar Kirani Unconference by Dorai Thodla Key Note by Hiten Shah Food and Venue
4.25 4.56 4.02 4.03 3.59 4.23

Positive: I thought it was one of the most relevant events for SaaS startups in India and probably the best one. It was unbelievable how experienced entrepreneurs and VCs were sharing everything from trade secrets to actual numbers. While the main event was great, I am a big fan of the RTs and the Funding RT was very very valuable. I can’t stress that enough. Looking forward to SaaSX3. I know it will be bigger but I hope iSpirt will be able to maintain the quality, personalization, and energy of the event. I found Shekhar Kirani, Karthik (Blume), Girish, Suresh, and Arvind’s inputs far far more valuable and actionable. No wonder iSpirt calls it ‘Playbook’. I think this is what differentiates iSpirt and SaaSX from the all noise on the web. Real SaaS insights for early stage startups. ~Gautam – Scanova

Excellent event. Very well laid out with something of companies at different stages of growth. Enough time and opportunity to engage, network and discuss with participants which often is not the case. Kudos to all experienced and matured entrepreneurs who were gave a very rare peek into their journey with concrete data. Already looking forward to next round of sassyness with more fellow entreprenuers ~Rohan – Evok Analytics

This was one of the best events orchestrated by iSpirt. 10x improvement over the last SaaSx which in itself was very good. Each event and the overall agenda seem to have been very well thought through and I am sure a lot of planning went into it. For me the best part of the agenda was the fireside chat with Girish – simply superb and thanks Girish, for sharing things so openly, things that you would have otherwise never shared. Kudos to the iSpirt team for putting together this very well curated event. Kudos to all the speakers and participants for their dedicated effort and time they put in and who genuinely seem to care about the product ecosystem in general and the SaaS one in particular ~Sanjay Shah – Zapty

A very good event with product centric crowd. The openness with which the speakers put forward their experiences and shared their knowledge was nothing short of exemplary. Great Event. Great People. Hoping for similar event in Bangalore! ~Rishav – RazorPay

 


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Product Market Fit – Pre Event playbook by @Avlesh @WebEngage & Arvind Kumar, @attunetech

The morning of the SaaSx2 event saw a great pre-event playbook at the Attune Tech’s Office.

Playbook by Avlesh

Avlesh from WebEngage, Arvind from Attune Tech. and Suresh from KiSSFLOW came together to host the session and anchor the round table.

With a casual round of introductions, Suresh kickstarted the entire roundtable discussion with a question:

Who is your ideal user?

Identifying the ideal user for your product is the key to your entire product. Is it a product for developers? Is it for CEOs? Is it for mobile users? Is it for users of spreadsheets?

Once you identify your user, identify the ‘buying title’ and the ‘influencing title’. The ‘buying title’ would be the shot-caller whereas the ‘influencing title’ would play a major role in influencing the shot-caller to buy your product.

Sometimes, if your on-boarding process is straightforward, you can sidestep your segment. Figure out what’s happening, is your product gaining traction, etc., And then iterate your product.

Aligning Metrics – The key

This is when Avlesh (Webengage) (he was lost in the land of Chennai, damn the cabbie) joined the discussion. He stated a very crucial point, that sometimes entrepreneurs forget during their journey of building their product.

“Try aligning your product to your users’ metrics” was a great insight from him.

If you’re launching a second product, run it by your current customers.

Try answering these questions:

What’s that one thing that your user can relate to? What does he/she get out of this? What are you improving for them?

These are very practical and a data-driven points to consider before taking that step forward towards your market fit.

Instant Gratification -Connecting the dots

Arvind, connected these points to the psychological concept of ‘Instant Gratification’.  What pain point are you trying to address? What’s that ‘wow’ moment they get when they start using your product? Something as simple as what they do everyday and how you can help them do it differently. If users get an immediate result from your product, they would be hooked to it.

Stickiness. The sole determiner.

Suresh mentioned a very simple but powerful point to elucidate product market fit.

“People who like your product will help you in scaling your product. But people who love your product will be your early adopters. Will be your referrers. Will be your evangelists. And they will help you achieve your product’s market fit!”

He also spoke about how product fit is not necessarily a price fit but much more than that. If users love your product, they really wouldn’t mind shelling out some extra money to buy it.

If you had noticed, all these points have something to do with user engagement.

Users see. Users love. Users buy. Users stick on.

Product Market Fit: The process

Product Market Fit isn’t a destination you aim to reach, but it’s a continuous journey.

Here are a few pointers to follow before you set out to find your fit.

  • Understand your market.
  • Estimate the market size.
  • Don’t go after a broad range of things. You can’t be everything for everybody.
  • Identify your segment. Your niche. That sweet-spot!
  • Then, iterate your product. Strip/add features to suit the market.

Mohit from Jombay, who had some thoughtful points to add on to the entire discussion, mentioned about how it’s important to know what to focus on! Positioning your product is a prerequisite in obtaining a market fit.

Are we there yet?

When do you know your product has obtained a market fit? To understand the answer, ask this question. Are more strangers paying for your product? (not just your mom’s friends or cousin’s colleagues). Are you solving your users’ problem?

Sean Ellis answers this beautifully, in his blog.

“I’ve tried to make the concept less abstract by offering a specific metric for determining product/market fit. I ask existing users of a product how they would feel if they could no longer use the product. In my experience, achieving product/market fit requires at least 40% of users saying they would be “very disappointed” without your product. Admittedly this threshold is a bit arbitrary, but I defined it after comparing results across nearly 100 startups. Those that struggle for traction are always under 40%, while most that gain strong traction exceed 40%.”

Takeaways

Some quick points to sum up my takeaways from the session:

  • Product market Fit isn’t a destination, it’s a journey.
  • Understand your market.
  • Know your customers.
  • It’s not about the product. It’s about how you position it.
  • Keep your product sticky.
  • Align your products to your users’ metrics.

Avlesh’s sense of humor, Arvind’s sarcasm and Suresh’s guffaws helped maintain a lively atmosphere for the discussion 🙂 It was a great session overall with some brilliant takeaways from all of them.

Guest Post contributed by Anusha Murthy, ChargeBee

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SaaS is the new black – and it has found a place in Chennai

At SaaSx 2015, Girish Mathrubhootham, CEO of cloud-based customer support software Freshdesk and popularly known as the Rajnikanth (think an acting, singing James Bond) of India’s Software as a Service (SaaS) scene, did the unthinkable. He revealed the entire spreadsheet of internal data-based metrics that he presented to his investors in 2011. All the media people were asked to put away their weapons and, at first, I was a little disappointed that I wouldn’t be able to share any of those numbers. Soon, however, I realized that they weren’t even important.

After Girish’s investors took a look at his numbers – and, honestly, at the time, they were not all that impressive – they decided to email his clients with a feedback survey. The response was overwhelmingly positive, with 96 percent of Freshdesk’s customers expressing approval of the product. “We didn’t even expect that,” explains Girish. “The only other feedback we got was customers expressing their desire to see us expand our product into different areas.”

The fact that customers wanted to see Freshdesk expand was important for both the company and its investors. As its progress revealed, the most dynamic feature of a SaaS product is its ability to acquire and reacquire the same customers by offering insightful new features. And, while the transient nature of software products means that differentiation can be difficult to maintain, Girish went on to explain that capturing the market was all about moving in at the right time. “Of course, best practices are easily copied and hard to retain – that’s why I’m only revealing our numbers from 2011-2012,” he joked.

SaaSx 2015, held in Chennai, Tamil Nadu, the self-proclaimed SaaS capital of India, was full of similar insights. People visited from all over the country, the furthest having traveled over 800 miles from Ahmedabad. Those in India’s startup capital, Bangalore – this includes yours truly – traveled over 6 hours and 300 miles on a bus through the winding Western Ghats to reach its neighboring state of Tamil Nadu. Despite an early start, energy was high on the road to the conference – the 34 entrepreneurs on the Microsoft Ventures-organized bus managed to conduct an ice-breaking session without falling over during the turbulent bus ride.

“My biggest virtue as an entrepreneur was patience. And, my biggest mistake… it was probably patience,” quipped one young CEO.

Read more about the SaaS Leap of Faith, SaaS circles are all about community, a blog post contributed by Meghna Rao from TechInAsia

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Are you in India/SaaS, and not at #SaaSx2? You missed transparent mind-blowing insights

SaaSx event is a meetup organized by a bunch of SaaS entrepreneurs for all SaaS entrepreneurs in India. SaaSx Chennai event enables SaaS start-up founders to learn and share tribal knowledge from SaaS (software-as-a-service) start-ups in various stages of the evolutionary ladder.  Every participant registered for the event and was vetted for fitness with theme of the event. (Do events really have qualifying criteria for participants beyond collecting money?)

A good number of us going from Bangalore to Chennai climbed SaaSy bus early in the morning. For everyone who climbed the bus, our learning started in SaSSy bus from Bangalore to Chennai. Entrepreneurs got comfortable with each other quickly and most seem to be in the mind-set described by Yamini “Running a company becomes a lonely job after a point. Super excited to meet other co-founders”.

After crossing to Tamil Nadu, we had breakfast and climbed back to bus. This followed with ice-breaker session where everyone self-introduced themselves and shared 2 things that worked for them and 2 things that did not work for them. Sharing brought the journey to end in Chennai. Some attended private roundtables, followed by lunch, SaaSX2 event started. FireSide Chat was kick-started with Aneesh Reddy of Capillary Technologies on ““The Nuances of Enterprise SaaS” by Ahi and Asha Satapathy.

  • Lonely initial start-up days when it was not cool to work on start-ups. That was okay and they got time to work focused.
  • Shared their approach to balance developing a product and customization needs of customers, how they make decision whether to do customization or not and when to actually execute customization.
  • Shared the challenge to collect money from customers after delivering service and the approach they took to streamline the same. For delays with large enterprise customers, one needs to evaluate whether it makes sense to follow with customer for smaller payments.
  • Shared being lucky not to take hard calls of firing people in India. He thinks firing makes it very difficult to hire senior people at some point of time.

Asha made Aneesh to share personal life tips by asking his advice to young entrepreneur’s to find life partner, which Aneesh coolly as “If you are entrepreneur or plan to be one, marry daughter of business man. She would be able to relate to you as she is already used to relate to her father”. The Next FireSide Chat was started by Sumanth Raghavendra with the man who has mapped SaaS growth from seed funding to Series B and beyond. Yes, Girish Mathrubootham. Earlier he welcomed us sharing his inspiration from thalaivar (leader) Rajinikanth, Tamil film actor. For me, Girish story is very similar to Rajinikanth movies, film world made real in software world.

Girish set context of his learnings and insights might contradict with Aneesh by sharing the difference between order ticket sizes in their individual business. Some of insights shared were

  • Focus should not be just about features in product, but any user must get value in 20 minutes without help from anyone.
  • B2B SaaS is never a winner takes it all market. There will always be a set of 2 to 3 credible players.
  • Decision to spend $40K money earned through Microsoft Hackathon to explore different marketing channels and evaluate their effectiveness. Required courage to spend on marketing against conventional wisdom of boot-strapped start-up booking the money for other purposes.
  • When customer land on the website, product experience starts right at that moment. The customer needs to like what he sees and when he signs, he needs to get value out of the website. If customer ends up saying atleast a vow, there is more probability that the customer might spend time in the next 30 days evaluating your products.

In between sessions, I loved the concepts of #onething at conference where entrepreneurs are asked to share one thing as response to a quick round of questions. Here are few fresh in my mind.

      • #onething “Simplify and communicate “helped team to scale was awesome #communication among team members. The context was the presence of start-up team across multiple geographies.
      • #onething “Should we change focus from Minimal-Viable-Product (MVP) to Billable-Viable-Product(BVP) ?” No money flowing is opinion but cash on table is fact. The Value of BVP: After 30 days of trial, will we get revenue on day 31?
      • Today internet earnings are migrating from advertising to commerce. With more commerce happening, product information is core to the future of brands and market.
      • Choice of Cloud in 2008 enabled us to establish India ecosystem for health management /diagnostics technology products and created a whole new SMB market of SaaS offerings.

Dorai moderated Unconference session. The session started with narrowing down to 3 topics based on audience preference of topics. It just happened that first topic “Inside Sales for SaaS products” took most of the time. It was nice to see exchange of folks with challenges asking questions and folks who cracked challenges sharing their insights. It was nice to see Suresh and Girish stepping up to share their inputs for most of the questions. May be this is exactly how real knowledge sharing should happen.

iSPIRT continues its focus to encourage learning and sharing among entrepreneurs as support for their journeys and here is second event in 2015 to demonstrate their commitment. Here are my thoughts after the event

  • Each questions of entrepreneur’s comes from real world challenges. The answers are not in text book and the answers have to come from real world experiences and are not available in textbooks or class rooms.
  • Learning from SaaS start-ups is tight connected with the context where SaaS start-up operates. Without context of the start-up, insights are of little or no help to entrepreneurs, as learning of SaaS start-up in first context contradicts with the learning of SaaS start-up in second context.
  • No one tried to create good impression. All were open to share their mistakes and what they learnt in the rough way. Indirectly saying that “Failure is first step towards success”.

Here are #bigMistake heard from Bangalore entrepreneurs in #SaaSyBus

  • Sold to friends & thought we were good, product ended up weak. Should’ve sold to toughest customers 1st to make prod strong
  • Hired for start-up experience and skills. Should have hired for attitude and culture fit.
  • Build the product along with sales. First few paying large customer got pissed off and jumped away.
  • Following templates for success does not work. Need to find your own path and your own means to succeed.
  • Took a lot of money from investors and became complacent. Will bootstrap next time.
  • Build a product for a market that was 2small. Now moved to a bigger market and trying hard.
  • Corporate experiences and start-up life are poled apart. Do not worry about other, competitors.
  • Being too passionate when things get hot. Need to step back and take a hard dispassionate look and face reality.
  • Trying to hardsell. Now we just do demos, show the value, if they see the value they will buy.
  • Selling operational cost efficiencies in a fast market does not work.
  • Customer say wants, not need. Product roadmap cannot be based on customer inputs, must come from deep within.
  • Delaying product launch to polish it. Need to launch fast and get market feedback and face reality.

Guest Post by G. Srinivasan

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SaaSx2 rocked :-)

I have read about startup founders who don’t (or stopped) attend events – justifiably so. In ecosystems where there is now an entire industry of events springing up (i.e. it feels to me that some people’s startup in itself is all about organizing events), it becomes very difficult to separate the wheat from the shaft. Overall, value gets diluted in a bid to make profit. SaaSx2 is in its own class by all standards, hey, not because profit wasn’t the motive, but purely because of the value delivered. I couldn’t have asked for more.

Saasy

The journey to SaaSx2 started at the Microsoft Ventures office in Bangalore at around 5:16am. All roads lead to Chennai. For the first time, I decided to take a bus ride longer than 3 hours in India. I couldn’t look away from the opportunity to take a bus ride with fellow entrepreneurs. I thought it’ll be fun; and yeah, it was. To ensure we didn’t sleep, Prasanna of Microsoft Ventures made all of us do a quick introduction. All entrepreneurs got a chance to introduce themselves, their startup, why they launched, lessons learned so far and what they intend to learn at SaaSx2.IMG_20151007_160446

SaaSx2 exposed SaaS entrepreneurs to insights and strategies to capture several segments of the market. From targeting “Elephants” (i.e. big clients) to chasing “Rabbits” (small clients), SaaSx2 had all startups covered. You just have to pick the context that applies to you. From Aneesh’s (cofounder and CEO of Capillary Technologies) fire side chat to Girish’s (Founder and CEO of Freshdesk) session and then to Hiten Shah’s closing session, growth tips were just flying around everywhere in the hall. Badass all through. The panellists were real, the “one thing” sessions were direct and insightful. Emm, my secret admiration for the founder of FreshDesk, “Girish Mathrubootham” just rose to another level.

IMG_20151007_154711

In a buzz word dominating industry, it’s easy to get swamp in grammar instead of reality. So, instead of just using those fancy words like “disrupt”, “pivot”, “grow”, each of the panellists actually went deeply into how to do all of those. From sharing real numbers to walking us through the journey, they couldn’t have delivered more value than that.

At the unconference, entrepreneurs shared some of the issues they have and asked the audience for help. Talk about entrepreneurs seeking help from fellow entrepreneurs.

No sycophancy. No bullshitting. No flattery. SaaSx2 had a floorless execution and is an example of how startup events should be. iSpirt has raised the bar. Beat yourself if you didn’t attend. Rice, Soup Very Plenty (RSVP) – Did I mention that food and beer was all in surplus? Ah, emm, thanks to FreshDesk for the dinner.

IMG_20151007_223214

And thanks to the point man himself, the man who I think prefers to be at the background, Avinash Raghava :-).

Looking forward to SaaSx3.

Guest Post by Oluwatobi Soyombo, 1Plify. 

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#SaaSx2 is here – The premier event for SaaS companies looking to scale

When SaaS was discovered by India, a group of young people saw its potential and built incredible businesses around it.

These were the originals, the first SaaS hackers.

We brought a few of them together in March this year, under the banner of SaaSx1, so other SaaS entrepreneurs could learn from them, and don’t have to commit the same mistakes all over again. The idea was that the learning would allow the new, driven breed to leverage experience when building innovative companies. As we said then, the knowledge needed to grow SaaS business from zero to $10k to $100k to $1m in MRR is rare, and the only people who can tell you something about it are the people who have done so already.

The super successful event ensured that we kept getting mails asking us to do another, and soon.

But the quality of the first event ensured that we had to wait and work to put together speakers of the same calibre again, so SaaSx could become a premier event in the ecosystem.

And so here we are.

saaSxWith #SaaSx2, and in the same place where it began – the newest kid of the startup ecosystem, Chennai. The event now returns with a leaner, meaner program that aims at ensuring that people ask the questions they want answers to, and take away specific action items they can immediately implement. This season will also debut an extended networking session, thus ensuring that everyone’s ideas have equal space in the ether, and the information shared and gained benefits everyone in the ecosystem.

Each one of the elements of the program has been tweaked keeping in mind last year’s experience, and the several Playbook RTs and meetups we have facilitated over the last few years. The speakers this year include Girish(Freshdesk), Aneesh Reddy(Capillary), Few SaaS startups and the tentative program is as follows.

Time Session Title
1030 to 1300hrs Pre-Event Playbook – “What it takes to Fund SaaS companies”
1030 to 1300hrs Pre-Event Playbook – “Are you ready to hit the growth pedal’ MVP”
1300-1400hrs Registrations & Lunch Networking
1400-1415hrs Introduce & Welcome #SaaSx2
1415-1515hrs Fireside Chat – “Assembling a Commando Team in the early days”
1515-1535hrs 3 SaaS Founders talks about “One Thing” talk for 5 min each
1535-1635hrs Fireside Chat – “The Nuances of Enterprise SaaS”
1635-1700hrs 3 SaaS Founders talks about “One Thing” talk for 5 min each
1700-1830hrs Group Event
1830-1850hrs SaaS Landscape report to be launched by Signalhill/iSPIRT
1850-1905hrs SaaS Guide to be launched
1905-2000hrs Keynote Address
2000hrs onwards Entertainment – Standup comedy, Networking Cocktails & Dinner

We will keep you updated over this as and when we have information, and please don’t hesitate to reach out to us if you need any sort of assistance or have questions you need answered.