Archive for December, 2011

TSC Resident Grant Awarded to Two Resident Graduates

LightSpeed Ventures (http://www.lightspeedvp.com/) is awarding a Grant of 2.5L Each for two of the graduates of the TSC Resident Programme. Over the past six months two teams have graduated successfully, building teams, building that initial social proof and model, and already eliciting interest in fund raising.Out of the Collaboration between The Startup Centre and Lightspeed Ventures, there is a grant of 2.5L being provided for these two teams.

They are already off on their way. The Grant should help these teams to push forward on making a dent in the universe.

Cost of the Resident Programme for six months for two founding team members : Rs. 60,000

TSC Resident Grant: Rs. 2.5L (Approx $5000)

The Experience, Mentorship and Getting them through the valley of death: Priceless.

More about the TSC Resident Programme at http://www.thestartupcentre.com/resident

Isn’t it about time You Gave your Idea a Chance?


The Third Edition of In50hrs is here. December 9 – 11, 2011

In50Hrs is a Weekend Hackathon where people with Ideas, Developers, and Designers get together to give life to ideas and have working prototypes before the weekend is out, present it to a room full of like-minded folks, and perhaps pave the way for the beginning of a new product.

How often have you pondered on ideas, but are a bit scared to quit your day job to pursue it? Or to find a team and see if the machinery and chemistry between you works well? Or a student with amazing ideas, but scared to sit out of placements? Well, an in50hrs weekend is a risk-free way to figure if there are legs to that idea, and if at all its worth taking a leap over it.

The Third Edition of the event is slated to be on the dates of 9th – 11th December in Chennai.

If you already are aware of What In50hrs is about, Click on Register to save yourself a seat.

If you’d like to know more, then there are a few things you can do:

  • Visit the Site on Getting Started
  • Read the rules of the Event
  • Pitch The Idea. Find one to work on.
  • Videos from in50hrs Past Demo [Youtube]
  • Write to us if you have any specific questions
  • Find a Partner to work with you, People to bunk with (if you are an out of towner) by Tweeting out with the hashtag #in50hrs

Registration URL: http://in50hrs.doattend.com

Continue reading ‘Isn’t it about time You Gave your Idea a Chance?’

Angel Investors’ Roundtable

Canaan hosted an angel investor roundtable on sidelines of Nasscom Emerge event in Bangalore last month. Key observations:

  • Financing pyramid and implications: It seems that angels perceive an increasing cycle to get to next round of (VC) financing.This is increasing the load on angel investors, as well as potentially increasing the risk. Some angel investors are beginning to look at “high velocity” as a key parameter for investing in startups – this refers to startups which can fail fast, or scale rapidly.
  • Mentoring skills: There was a distinct feeling that quality of mentoring needs to be improved. There might be an opportunity to put in place structured mentoring training to enable some of this. Besides the process skills around mentoring, domain expertise and go-to-market assistance were outlined as key areas. Finally, “VC literacy” of angel investors and mentors is an important area to focus on.
  • Startup selection: In terms of domains, it was pointed out that SMB adoption in India is still slow and might not be a fertile ground for fast growth startups. In terms of entrepreneurs, angels/mentors tended to prefer younger, malleable entrepreneurs with high energy. Note that this could be a selection bias in the group, because we have separately heard about preference for experienced entrepreneurs with solid execution track record.
  • In terms of ecosystem enabler, key areas that were highlighted were customer meets, angel liquidity initiatives, availability of working capital, and marketing/pr resources/platforms specifically for startups.

What do entrepreneurs feel about angel ecosystem and what would make more startups succeed?