Two Entrepreneur Interviews: Deepak Shenoy of Moneyoga and Girish Saraph of Vegayan Systems

I recently did two interviews with two very different but passionate entrepreneurs: Deepak Shenoy, co-founder of Moneyoga and Dr. Girish Saraph of Vegayan Systems. Over the past year or so I have spent a fair amount of time talking to both of them and have followed their journey as entrepreneurs.

Deepak and I have spoken at length about entrepreneurship, startup environment, Bangalore, etc over the phone, but never got around to meeting over that cup of filter coffee in Bangalore. Blame it on the messy traffic congestion in Bangalore that precluded me from going to his part of town! Deepak is a passionate and seasoned entrepreneur and it was great fun interviewing him. In the interview Deepak made some great points about entrepreneurship in India.

Girish is an academician turned entrepreneur that I met at the TiE Mumbai conference in 2006, where I interviewed him the first time around. He was very excited at having won the TiE_Canaan Challenge for that year and was looking forward to going to INSEAD Singapore to spend 6 weeks there. I remember how Girish patiently and methodically answered all my questions about the software his company was building and gave me the big picture overview that also helped me in getting a better grasp of his company. Methodical is the word that comes to mind when I think of Girish since that trait or character is reflected in the manner in which he has plotted the course for his startup and in the way he did this interview that I did earlier this week.

19 Responses to “Two Entrepreneur Interviews: Deepak Shenoy of Moneyoga and Girish Saraph of Vegayan Systems”

  1. Devender Singh says:

    Dear Freind,

    I understand that starting a company makes pass through lot of legal process and registration . But i hope u will appreciate that it is part of governance process. And dont u think if not instantly on net but smothly next Door CA can get it all done in a months time. Fair enough I think. Though it should be furthe stremlined . We are lot better than what we were few years back.

  2. kamla bhatt says:

    Clarification: What I shared about setting up of comapanies was gathered from talking extensively to entrepreneurs and from my own experience. I tried setting up a company a couple of years ago, and I know of numerous people who have set up companies and know the issues they faced while through the process. One entrepreneur had to wait 6 months to get his paperwork done before he could get VC funding…but he was diligent and thorough and did not any loose ends. The process is still opaque and that leads to quite a few problems and there is nothing wrong in higlighting that. Do talk to entrepreneurs who have set up companies and received funding and they will tell you the unexpected delays and problems they run into when they have allocate share certificates or take care of other paperwork.

    I remember what it was like to set up a company in 1992…anyone remember that time? So, yes compared to 1992 the process has changed quite a bit, but it is not at a point where you can go to one place online, register your company, receive the company seal and tax number and get going all within 48 hours. I wish Rad they had vending machines in the US to dispense all those various tax id numbers etc, it would be so much fun 🙂

    It was both educational and interesting to read the various comments on this thread because it gave me a pretty good insight into how people think 🙂 and how as Amartya Sen pointed out we do love to argue. My, don’t we all love to jump to conclusions, and I am certainly not deleting myself from that group!

    Best of luck to all those who have companies or are looking to set up companies.



  3. vyaas says:

    I too returned from abroad and started a company.
    To register a company and start selling there are a set of procedures. Knowing that you have to obtain a PIN,DIN, PAN, TAN, Sales Tax No, professional tax No etc. took me time. There are also rules to register with RBI etc for receiving and sending money.
    Once you know what is to be done, you have to follow a set of procedures whether in India or abroad it is the same.
    What I agree is these rules are not clearly laid in one place in India. You probably have to meet another entreprenuer and you’ll get all the insights.

    Sometimes we have a slow process, like the server at mca, or getting a corporate credit card (atleast for me).

    But then, you are an entrepenuer, so you have to be extremely patient. Patience and Perseverance are 2 good virtues which I am trying to improve upon.


  4. Vikas
    Just to clarify, I never tried to register a new company
    with the MCA site.

    My experience was with analysing some companies which I
    did for another project. Also, my experience has been
    with turning a provisional DIN into a permanent one;
    this is not to do with the site per se, but dealing with
    the MCA people.

    Having said that, I dont think anyone has a pre-conceived
    mindset about govt. We just go by experience, in fact, we
    give huge benefit of the doubt to the govt.

    For instance, I have very good experience with the Bangalore One bill payment service. I dont complain about
    it at all.

    I have also dealt extensively with the govt. and know
    that when a certain minister wants to pay you, it can
    happen instantly. There is no bureucracy involved at all
    or all delays disappear.

    But I fail to understand why we have to judge govt. by
    a different standard than we judge private companies.
    If I recall right, we have had discussions on this very
    board where we have discussed how Indian private company
    websites have had bad UIs or something to that effect.

    Why dont we judge the MCA website by that standard then,
    but instead there are huge number of guys trying to defend
    eseentially a very pathetic site/UI by all standards of
    the term.


    PS: I agree with you again on the point that speed of
    registration does not have anything to do with the
    success of the venture. Sometimes however, you want to
    register a company fast to beat some other deadline. In
    such a case, these things matter.

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