Long Shot in a Thick Jungle : Startups in India Talk at Tej Arora Founder

Long Shot in a Thick Jungle :

Startups in India

Talk at

Tej Arora

Founder

Intro Based on experience of http://SmartCrowds.com , building http://BrandAdda.com Its a hi-tech startup, mileage may vary for other categories Product is in public-beta, with virtually no Marketing done yet (another round of development in progress)‏ No better place than a college campus to plant the startup bug... Pass on the infection!! Why are Startups good for the Economy?

Based on experience of http://SmartCrowds.com , building http://BrandAdda.com

Its a hi-tech startup, mileage may vary for other categories

Product is in public-beta, with virtually no Marketing done yet (another round of development in progress)‏

No better place than a college campus to plant the startup bug... Pass on the infection!!

Why are Startups good for the Economy?

Agenda Working in a Startup vs Large firm Before you Start it up Pieces of the Startup puzzle Challenges unique to India Some Learnings Useful Forums Valuable References

Working in a Startup vs Large firm

Before you Start it up

Pieces of the Startup puzzle

Challenges unique to India

Some Learnings

Useful Forums

Valuable References

Working in Startup vs Large firms Startup Make a huge impact on Company's destiny Create Products from scratch (No Legacy!)‏ Complete ownership (product defn, design, architecture, marketing, sales, business dev)‏ Limitless opportunity to constantly Innovate & Learn & Grow More Stock Options (potential Mega $$$$)‏ Small, tightly-knit, motivated team Zero bureaucracy. Things move fast!. Simple Facilities Limited Perks / Benefits Need Drive & Will to put in Looong hours High Risk / High Reward Large Firm Make a minor dent at best Typically bug-fixing, enhancements, or limited development Partial Ownership (typically only QA and dev, sometimes product defn)‏ Opportunity to learn a few things, limited opportunity to innovate Miniscule or non-existent Large, distributed, multi-department teams Fair amount of bureaucracy Superior Facilities Strong Perks / Benefits Easier work-life balance Low Risk / Low Reward

Startup

Make a huge impact on Company's destiny

Create Products from scratch (No Legacy!)‏

Complete ownership (product defn, design, architecture, marketing, sales, business dev)‏

Limitless opportunity to constantly Innovate & Learn & Grow

More Stock Options (potential Mega $$$$)‏

Small, tightly-knit, motivated team

Zero bureaucracy. Things move fast!.

Simple Facilities

Limited Perks / Benefits

Need Drive & Will to put in Looong hours

High Risk / High Reward

Large Firm

Make a minor dent at best

Typically bug-fixing, enhancements, or limited development

Partial Ownership (typically only QA and dev, sometimes product defn)‏

Opportunity to learn a few things, limited opportunity to innovate

Miniscule or non-existent

Large, distributed, multi-department teams

Fair amount of bureaucracy

Superior Facilities

Strong Perks / Benefits

Easier work-life balance

Low Risk / Low Reward

Before Starting it up! Establish purpose (Read Guy Kawasaki's Art of the Start )‏ Why to do a startup? Why NOT to do a startup? http://blog.pmarca.com/2007/06/the_pmarca_guid_1.html Pitch to some close friends you admire/respect If everyone says GO FOR IT!, pitch some more!!, UNTIL you've heard some contrary views If you're STILL gungho about it, you're ready :-)‏

Establish purpose (Read Guy Kawasaki's Art of the Start )‏

Why to do a startup?

Why NOT to do a startup? http://blog.pmarca.com/2007/06/the_pmarca_guid_1.html

Pitch to some close friends you admire/respect

If everyone says GO FOR IT!, pitch some more!!, UNTIL you've heard some contrary views

If you're STILL gungho about it, you're ready :-)‏

Pieces of the Startup Puzzle Idea Technology Product Hiring Team Advisors Funding Personal Network Business climate Legal & Accounting Marketing/Sales Courtesy nanasupergirl@flickr Deficiency in any of these can kill the startup!

Idea

Technology

Product

Hiring

Team

Advisors

Funding

Personal Network

Business climate

Legal & Accounting

Marketing/Sales

The Indian Handicap Hiring for a startup is hard enough anywhere, but India adds a dimension Risk-averse culture (Friends & Family act as gates!)‏ Equity unattractive & ill-understood: No examples of big jackpots out of India Too many Generals & very few Soldiers VC scene is still maturing Few Angel/Seed Investors Preference for Services, BPO, Retail, Education, Domestic Internet/Mobile Internet Audience is tiny Breakout Innovation / Creativity: Ecosystem still developing Need more Open Source participation: excellence for the sake of excellence (e.g. Google, Wordpress)‏ Need more Networks / Forums / Camps / Hacker Meets

Hiring for a startup is hard enough anywhere, but India adds a dimension

Risk-averse culture (Friends & Family act as gates!)‏

Equity unattractive & ill-understood: No examples of big jackpots out of India

Too many Generals & very few Soldiers

VC scene is still maturing

Few Angel/Seed Investors

Preference for Services, BPO, Retail, Education, Domestic Internet/Mobile

Internet Audience is tiny

Breakout Innovation / Creativity: Ecosystem still developing

Need more Open Source participation: excellence for the sake of excellence (e.g. Google, Wordpress)‏

Need more Networks / Forums / Camps / Hacker Meets

Some Learnings Get a partner! Leverage what exists: lots of free / open source assets Blog about your company Keep governance clean When to go to a VC? the less experience the team has, the more traction you need to demonstrate Put some of your own money Get a lot of review & feedback, validation is key Outsourcing: Avoid; If you must, do only a prototype

Get a partner!

Leverage what exists: lots of free / open source assets

Blog about your company

Keep governance clean

When to go to a VC?

the less experience the team has, the more traction you need to demonstrate

Put some of your own money

Get a lot of review & feedback, validation is key

Outsourcing: Avoid; If you must, do only a prototype

Useful Networks / Forums TiE (The Indus Entrepreneurs)‏ ( http://tie.org) ‏ Mentoring Sessions Workshops Access to those with Gyan, Money, & Connections Proto.in ( http://proto.in ) Headstart.in ( http://headstart.in ) NEN Online ( http://nenonline.org ) LinkedIN ( http://linkedin.com ) Startup Sites / Blogs Pluggd.in ( http://pluggd.in ) WATBlog ( http://WATBlog.com ) VentureWoods ( http://venturewoods.org ) Incubation Cells / Centers

TiE (The Indus Entrepreneurs)‏ ( http://tie.org) ‏

Mentoring Sessions

Workshops

Access to those with Gyan, Money, & Connections

Proto.in ( http://proto.in )

Headstart.in ( http://headstart.in )

NEN Online ( http://nenonline.org )

LinkedIN ( http://linkedin.com )

Startup Sites / Blogs

Pluggd.in ( http://pluggd.in )

WATBlog ( http://WATBlog.com )

VentureWoods ( http://venturewoods.org )

Incubation Cells / Centers

References Marc Andreesen's Blog has a 9-part series on startups http://blog.pmarca.com/2007/06/the_pmarca_guid_1.html (Why not to do a startup)‏ http://blog.pmarca.com/2007/06/the_pmarca_guid_2.html (When the VCs say no)‏ http://blog.pmarca.com/2007/06/the-pmarca-gu-1.html http://blog.pmarca.com/2007/06/the-pmarca-gu-2.html http://blog.pmarca.com/2007/06/the-pmarca-gu-3.html http://blog.pmarca.com/2007/07/the-pmarca-guid.html http://blog.pmarca.com/2007/07/why-a-startups-.html http://blog.pmarca.com/2007/08/the-pmarca-guid.html http://blog.pmarca.com/2007/08/the-pmarca-gu-1.html http://www.sequoiacap.com/ideas : Elements of sustainable companies http://www.svpg.com : Great Advice on creating successful Products The art of the start by Guy Kawasaki The High Performance Entrepreneur by Subroto Bagchi Do a Google Search for some names: Paul Graham, Marc Andreesen, etc

Marc Andreesen's Blog has a 9-part series on startups

http://blog.pmarca.com/2007/06/the_pmarca_guid_1.html (Why not to do a startup)‏

http://blog.pmarca.com/2007/06/the_pmarca_guid_2.html (When the VCs say no)‏

http://blog.pmarca.com/2007/06/the-pmarca-gu-1.html

http://blog.pmarca.com/2007/06/the-pmarca-gu-2.html

http://blog.pmarca.com/2007/06/the-pmarca-gu-3.html

http://blog.pmarca.com/2007/07/the-pmarca-guid.html

http://blog.pmarca.com/2007/07/why-a-startups-.html

http://blog.pmarca.com/2007/08/the-pmarca-guid.html

http://blog.pmarca.com/2007/08/the-pmarca-gu-1.html

http://www.sequoiacap.com/ideas : Elements of sustainable companies

http://www.svpg.com : Great Advice on creating successful Products

The art of the start by Guy Kawasaki

The High Performance Entrepreneur by Subroto Bagchi

Do a Google Search for some names: Paul Graham, Marc Andreesen, etc

VISION, DRIVE, PERSISTENCE, NETWORKING Administration Idea / Product Technology / Platform Strategy Team Coordination Deployment Usability Flexibiity Backup Facility Legal Finance Incorporation Internet, Power, Cost, Distance, Hardware, Furniture Terms of Svc, Privacy Policy, Stock Plan, Funding, Contracts, Employment Agreement Confidentiality Agreement IP Protection Name Logo Stationery Process Accounts Budgeting Filings Payroll, Funding Equity Plan Pitch /Biz Plan VC, Angels Mgmt Business Development Marketing Partnerships Sales Team Building Affordability Team Composition Campus Relations Tests& Interviews PR Events Blogging Press Research News, Blogs Journals, Publications Board of Advisors & Directors Life of an Entrepreneur ** ** Professional part only Team Motivation

Finally! QUESTIONS? The Startup World Needs YOU!