Author Archive for Vijay Anand

TSC Resident Grant Awarded to Two Resident Graduates

Published by Vijay Anand on December 8, 2011 in General.
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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?

Published by Vijay Anand on December 6, 2011 in Ecosystem and News/ Events.
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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?’

The Startup Centre : Call for Residents. Batch 3, Now Open.

Published by Vijay Anand on October 27, 2011 in Ecosystem.
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You are Brilliant. You have an Idea. What next?

The TSC Resident Programme, is a six month programme, targetted at entrepreneurs (first time and experienced) with an awesome idea to help them go from idea/concept to a Market validated Product v1.0. You also get to work out of The Startup Centre, and get to work with an amazing set of entrepreneurs, who share a similar journey.

 Application Form 

Here’s What You Can Expect to Get out of the Programme…

Continue reading ‘The Startup Centre : Call for Residents. Batch 3, Now Open.’

The Startup Centre Resident Programme Batch 2. Application Deadline Soon Approaching.

Published by Vijay Anand on August 13, 2011 in Ecosystem.
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The Intent of the Resident programme is to help transform your vision into a viable product with Product-Market validation, over a 3 to 6 month period. The teams go through a cycle of Prototype Building, Customer Development, Product-Market Fit Process and to the beginnings of the Business Model Cycle

Here’s What You Can Expect to Get out of the Programme

3-6 Months
The Resident programme lasts for upto 6 months—enough time for your team to build the first version of the product and get the market validation done. By the end of the programme, you’ll be ready with a product that people want, and are willing to pay money for.

Cost and Criteria
We take only teams which are very early on with their idea into this Programme. Ideally Founding teams, which are 1-3 member in size is what the focus is on. Teams are expected to pay a nominal sum for the duration of the Programme (Rs.7500 per month for Single Founder, Rs.10,000 for Two founder teams and Rs. 12,000 for Three founder Teams) to show seriousness and commitment towards the building out of their idea/concept.

Note: We do have partners who will be open to sponsoring teams which do not have the financial means to back this requirement.

The Space
We provide the furnished office space and bandwidth (internet and guidance) for the duration of the programme. This is a collaborative space for all Teams in the program, providing a forum for mutual support, idea sharing and tech talks. We expect all the teams to be in Chennai during this time. [ Tour of The Startup Centre, Chennai ]

Skills Training
All the Teams will have access to the Startup Centre Classes. This program covers all business topics relevant to an emerging business, from business model definition to market segmentation and pricing strategies. The sessions will take place on a rolling basis and Teams can participate in all modules or only those areas where they would like to build up more skills specific to the stage of their product development and enterprise.

The Mentor Base
For the duration of the Programme, members of The Startup Centre will be available to interact with on a regular basis to guide you. Teams will have regular access to our extensive network of business and technology experts, many of whom are rather experienced entrepreneurs in the Indian Landscape. Our Mentor Base is extensive, so we are confident that we can connect you with an expert for any coaching needs, be it marketing, finance or product development-related.

The Stack
An Average Product Startup goes through 2.5 iterations before they get their product right. How do we cut down on that iteration as much as possible? The right tools. Through our partnerships we are able to provide the teams in the Resident and Accelerator Programme, the best stack that is out there, to ensure that they are equipped to the best in churning out the first product. Some of the partners mentioned are here (Announcements on some major partners soon)

Visibility
All great stories need a platform for advertising their success. Association with the Startup Centre and resulting awareness at our networking events, blog posts, and press releases will provide Teams with reach to the next level.

Accelerator Programme
The Resident Programme becomes a means for both The Startup Centre and the Teams to engage to try out the support that is provided for High potential Entrepreneurs. The Accelerator Programme that is due to launch in November, and subsequent rounds will have first preference for selected candidates of the Resident Programme, given the experience of having worked together.

The Resident Grant
The Startup Centre has Partnered with Lightspeed Venture Partners to give one of the Outstanding teams, Starting from the Batch of September 2011, a Grant of Rs. 5,00,000 (Approx $10,000). The Criteria for selecting the company will align with the goals of the Resident Programme - a team, which can build out their product and have that initial customer development process done, to move into the next stage of Enterprise building. No Strings attached. Seriously.

Deadline: August 31st. Have you Applied Yet?

The Startup Centre : SAIF Partners announces Sponsoring one Resident. Deadline Fast Approaching…

Published by Vijay Anand on April 20, 2011 in General.
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I quite remember having discussions around Early Stage startups a few years back - not that much has changed since then - but it all came down to essentially realizing that we unfortunately do not have enough great ideas spawning out of our ecosystem. I believe that statement has to end with a “YET”. There is very little support in terms of entities and groups that can garner that momentum that events build up, into something creative and productive, and to aid that early entrepreneur through the stages of building that first prototype and Product.

The resident Programme in a lot of ways, was framed keeping that in mind. A six month programme where you are in the company of 15 such amazing founders, day-in and day out building out your dream. Nothing gets better than that.

We’ve been pleasantly surprised by the applications we have been receiving. We are infact getting quite a few applications from out of Chennai, that we are trying to put together a list of affordable places to stay in Chennai, around the centre, should these teams get selected. There are definitely signs of an amazing resident programme coming together here.

So we’ve got Four more days to go, and another week or so of hard work for us at TSC to go through all the applications, and schedule interviews, meets and calls with those of you who’ve applied. We are slotting teams early in the calendar, and on the order of submission. So, the earlier you apply, the earlier you get a meeting, and the verdict. Make use of it.

Announcing the Sponsorship Programme:

Remember how I was mentioning how we all have cribbed that there arent enough early stage companies in India? Well, while we are taking the lead, we are quite proud and honored to have folks supporting that cause. SAIF Partners (http://www.sbaif.com/) has committed to sponsor one resident team for the entire duration of the programme (that’s the complete six months). I know not everyone who has wanted to start out, also has had the luxury to save up to cover the costs of the Programme - as much as we’ve kept it to the bare minimum we can afford the infrastructure at. But here’s an excellent opportunity if that was the only thing stopping you. (There is an added section on the Application Form, a few details to be added IF and ONLY if you want to be considered for the programme. Please note that the chances are rather low, given the demand, so in an effort to be helpful, only apply if you really need it)

Make use of it, before its too late. Applications are open at http://rapply.thestartupcentre.com

Look forward to hearing from you soon. We are really rooting for the early stage entrepreneur, and we are looking forward to the day when we no longer have to agree to the obvious with the YET at the end for optimism, but it will be a blatant reality.

On behalf of The Startup Centre,
Vijay Anand

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Kickstarting “The Startup Centre”

Published by Vijay Anand on March 22, 2011 in Ecosystem.
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I’ve been a raving lunatic about this, for almost the past eight months, talking to various folks in the ecosystem, listening, iterating and evolving and still realizing that there is enough evidence to point to the need of an existence of an entrepreneur-centric early stage hub and accelerator. The Startup Centre is an effort towards that.

The premise is that, today while there are close to 50+ incubation centres in the country, most of them are not fully functional, and the few that do are so because of the folks who drive it - not because of the facilities it offers. Secondly, it has a tendency to attract folks who do require a lot of handholding. And from our experience almost 90% of the kickass startups we bumped into, during our Proto.in days were out there in the wild. The question then was, as to how to support these entrepreneurs - accelerate - in any meaningful way.

Secondly, we also realize that the Indian startup landscape is all about events. We go from one event to another, and the meagre efforts that we do in terms of ecosystem building are all limited to the web, and that hasnt quite taken off.  My thought process goes back to how open source communities are built - with that live IRC channel - where people can drop by anytime to continue the conversation and to get help. TSC is an offline equivalent of that in a way.

We are planning to launch in a few cities. We are kickstarting the effort in Chennai - we’ve gotten a 2500sq ft office out of Alsa Mall, which will be home to most of the startup related events in Chennai, and will also become a hub to access resources etc. There is also a membership model for founding teams (only) to work out of - launching in May.  Entrepreneurship can be a bit lonely quitting that job and starting off and this could be a way to tacke that.

None of this would be possible without the amazing support that the community at large has been showing. We technically go live this weekend - by one of the first initiatives to build prototypes out of ideas folks might be having with our event - in50Hrs - More at http://in50hrs.thestartupcentre.com

Looking forward to what lies ahead.

PS: There is a plan for an accelerator in TSC, scheduled to launch in the June/July timeframe.

Is Micro-Funding a New Trend to Come?

Published by Vijay Anand on August 27, 2009 in Musings.
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A lot of folks seem to be very curious as to what I am working on, since my stepping back from Proto.in. Well, quite a bit actually and on some rather serious stuff. Serious as cash, infact. One of the major concerns that has been on my mind is the scarcity of capital in this market.

I am absolutely with the camp that believes that if there are quality companies, then capital will find its way. But we also know as part of most of our risk mitigation strategies, making a leap into a market with no safety net or partners makes it a really serious gamble - even for some of the most well-versed entrepreneur to tread in. I strongly believe that unless we enable some capital to flow, we are not going to see much of a difference in the number of quality startups that spring up, and inevitably the number of startups that get funded/get recognized, and the number that make an exit. This cycle, as you know is recursive.

So What have I been obcessing about? I’m focusin on three aspects and I think all three aspects are crucial.

  1. The mechanisms for loans from banks to become accessible for startups/SMEs
  2. An effort to bring together the Angel Investment Community, educate them and help them engage in an effective manner
  3. An effort to fix the “broken VC Model”

The First and Second are fairly straightforward and I promise to come back to you with some better news soon. But this is primarily about the third one.

I think the third one warrants a closer look for a simple reason. People have been claiming as long as for the better part of the decade that the VC model is broken and there seems to be no heed to that warning. Whats worse is that given that India couldnt be farther away from whats happening in the Silicon Valley in terms of similarities, the model is a force-fit one (There are some better models in Israel, Singapore etc). If you’d understand how a VC firm works, its primarily a specialized bank which runs on a management fee and bonus paid with the return on the investment. The overheads of running such a team is so high, that the only viable way for most firms to operate is to increase the fund size, which sets the ball rolling on them getting into a soup not able to invest in early stage no more, and the next thing you know they are either full-fledged in growth stage, or are in growth stage and are disillusioned about being an early stage investment firm. Suddenly working for a VC firm or being one doesnt seem so glamorous, does it? :)

What we need in India is essentially a firm which is capable of dispensing funds as low as 50 Lakhs to a crore (I am consciously keeping figures in INR to make it a point that we arent in dollar land and the rules and requirements are different here) - which can operate at lower costs, and can also manage a sizeable portfolio.
Continue reading ‘Is Micro-Funding a New Trend to Come?’

The Tweetie Helpline | @start24×7

Published by Vijay Anand on July 22, 2009 in Ecosystem.
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So, We have been kinda noticing this trend. Forums are great, and with the present rate at which the startup community seems to be growing, there is more and more a need to be real-time. We felt it, just by the way we were interacting with people on twitter, but there was certainly a need to do more.As of today, the Indian startup community has a helpline. @start24×7 Continue reading ‘The Tweetie Helpline | @start24×7′

Who Owns The Company?

Published by Vijay Anand on June 17, 2009 in General and Musings.
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Once in a blue moon, this situation repeats itself. The board of a company along with the stake holders and investors are pushing the entrepreneur towards a direction and he/she is really not liking it, and tries the ownership card. “This is my company, and I do have the best in mind for it”. Nobody usually reacts to those words, but technically one could throw you out for making statements like that. I’ll start with who doesn’t own a company - Its the entrepreneur.

Whoever sold you the romanticism that being an entrepreneur meant being your own boss, was clearly lying. You really never escape the chain of command and reporting structure so easily - not in a civilized society. So Its no wonder that things don’t span out as they say. As an employee you might be accountable to your boss, but as an entrepreneur you are accountable to all of your clients, stakeholders and employees. And every one of them holds you responsible to have the answers and do your best - that’s no different from being an employee times ten. Think about it.

So here’s two things you must know. It is crucial to understand this because this sets the context to understand a whole lot of things that happen through the course of the company.
Continue reading ‘Who Owns The Company?’

Brad Feld, On the Ecosystem.

Published by Vijay Anand on March 19, 2009 in Ecosystem and General.
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Came across this blog post by Brad Feld, on his observations between VCs and Entrepreneurs and the so-called Ecosystem to speak of.  It’s kinda an interesting read.

Brad Feld on VCs, Entrepreneurs and the Ecosystem.
Some of the highlights:

I’ve long believed that the entrepreneurs are the motive force behind all entrepreneurial ecosystems – not the VCs, the other service providers, the government, or anyone else

I regularly hear people – including very smart and experienced ones – assert other things such as overstating the importance of the presence of VCs to the entrepreneurial ecosystem.

VC’s play a role in all of this, but it’s one that I regularly feel is dramatically overstated, misrepresented (including by many VCs) and misunderstood.  We provide different resources and value than lawyers, accountants, investment bankers, and PR and marketing firms, but we are still simply one of the inputs into the entrepreneur ecosystem.