The venture world always seems to be driven by transactions — here’s a little bit on the ideological plane of venture investing. Interesting read…
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Alok, I agree with Kumar.When mentors/advisors become board members then why do VC’s stress on the experience of founders.Also,doesn’t a less experienced founder from a good educational background comes with a greater belief in himself and in his idea.Given that he choses entrepreneurship over a regular job in the early stage of a career doesn’t it shows his confidence and risk taking ability.He can compensate his less experience by his passion for the job and hard work.
Regards,
Anshul
Alok,
Experience is good but can’t knowledge be a substitute for that.I consider knowledge can be gained from thorough understanding/study of the market and business but for gaining experience one needs to spend good number of years working in same field.So don’t you think that looking for experience in founder members defintely puts some constraint on their funding possibilities.When mentors/advisors can properly be used for taking practical insights then why do founders need to have experience.Why can’t sufficient understading and knowledge be sufficient criteria for evaluating their credibility?
Thanks
Kumar
ksetu@yahoo.co.in
Hi Alok,
thanks for your instant response.
If there is a missing link in the team, can BOA help through mentoring?
Regards, Bala
Bala, as I have clarified at the same place — coming from a reputed educational institute helps the story, but cant substitute for experience. In fact, for a seed deal, I would think that relevant experience is far more valuable than the institute (if one has to choose).
Hi Alok,
nice article in Business line. this raises some serious queries.
You have mentioned that for seed stage,” right quality of team is must”
Do you mean to say that we need guys from IIT, IIM as part of our team or from elite institutes?
Or do you mean that professionals with relevant experience in the kind of business we are thinking?
by all means im going to submit my plan to you…
Regards, Bala