I always enjoy attending a TiE event because of high quality of speakers and great opportunity to network. The interactions always put me on a different paradigm.. The discussions with budding and thriving entrepreneurs are always exhilarating because an entrepreneur is my hero…
DFJ-TiE event was no different.. There were joint winners for the seed funding of USD75K each from DFJ. The presentation by Mr. Raju on the key take aways of the business plan contest was great. A summary of them are
Chase a large market Niche doesn’t interest a VC. If the idea targets a larger market, then there is a luxury to commit mistakes and get away
Team is the king Most of the VCs bet money not on ideas but on teams. Good teams make a bad idea work and bad teams make a good idea fail
Innovation is the key Another call center or another software services firm mayn’t attract VC’s interest and money
Entrepreneurs@Bangalore Inspite of infrastructure woes, Venture ecosystem is building around Bangalore. Out of the business plans selected after first round, nearly 70% came from Bangalore startups
Plans are World class Business plans from India Venture Challenge are as good as any where in the World. Best part was when he said Stanford class rooms suck before ISB classrooms:-)
At the event I also had the opportunity to meet Nag and his team from Vimta Labs, Ajay from ITVidya and Thyagarajan and his team from IIIT. Overall its a great event and I returned home more educated.
