Loading ...Paul Graham has an interesting approach for seed funding. Maybe there is something we can learn and adapt. Some of us in Band of Angels may like to launch a Y Combinator . To do a proper launch will take some time.
This post is just a test check to see what prospective entrepreneurs in India think of Paul Graham essays and the Y combinator approach.
A few things I found interesting
1. YC looks for ideas and entrepreneurs and not business plans. It helps incorporate companies and get the entrepreneurs ready to get funding if required from angels/ VC’s
2. YC does not invest much. Maximum it has invested in a company is $24,000. It takes upto 5-7% of the company
3. YC seems to cater to entrepreneurs who have fire in their belly, good ideas and the ability to execute rapidly. They also need to be first time entrepreneurs who need help with getting started.
4. YC is not an incubator. All founders have to be in a sort of boot camp for 90 days but they work out of wherever they live.
I am in Delhi for just a few days in Sep/Oct so will investigate launching a Y combinator type play in India in November if I find enough interest.
“Y combinator of India”
We are laying foundation of Y Combinator in india through our new venture “venturesprings.com” .
Venturesprings.com-is essentially a entrepreneurs network of india.We aim to evolve finally as “Y combinator” of india.Still we (self and akshay surve www.akshaysurve.com ) believe in not reinventing the wheel.So, if some body is already working on same lines we would be happy to join.
What I can contribute is small fund to the tune of 5-10 lakhs .If some angel investor would like to assume a role of mentor to help us decide for investing in startups,it would be great.
Readers your obvious question would be “why i am trying to be philanthropist”.Well i started with a travel portal but it died because of lack of seed fund.And all my efforts in drain.That is my motivation.
Vikas Shah
vikaschandrashah@yahoo.com