TiE India is having its flagship event TiECon later this week.
Am chairing the same, and must tell you there are some very good speakers coming there!
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The VCs new found love to INDIA resembles the California Goldrush.
The always come in droves and leave in droves.
Hi Alok,
Good that u r chairing the event. Take time out to update us of what transpired there.
There are some interesting companies in India, but the problem is they get bogged down in the VC Funding maze.
I personally have been into these and when we have a single person behind the venture, they ask for a team; ( Dell has one main guy, Oralce, Microsoft, google all have 1-2 main souls who started the venture and slowly others joined), when we have one client, they want more clients; when we have revenues, they want product/service/intellectual IP revenues; when we have a team, they want a core passionate promoter, etc ( Most of these VCs are conservative Investment bankers) who don the role of VCs without enough domain knowledge or vision to see the opportunities and fail to think out of the box( Alok,No flames please).
There are good VCs and bad ones just like there are good entrepreneurs and bad ones too.
Having met few of them in India and in US for various funding plans of ours, we are now comfortable going without their money and making our own mark in US IT space after 5 years.
So what started as a seed stage, has moved to first stage, second stage and is now in late stage and if we had banked on VCs, it would have been in ZERO stage.
My best advise is mentoring and incubating a company even without giving money would be a good boost to the promoters as more than money, they need the advise, contacts, business execution plans global tie-ups which the VCs could easily part with.
Alok, when u chair the event and look at the participating companies at TIECON, please try to look at this angle.
I find the INDIACO model good for India
(www.indiaco.com)