How to get the Initial Stage Funding ?
As budding entrepreneurs and small business owners, most of us have indulged in the thought of How to get the Initial Stage Funding and try to take the business to the next level. And thus, in the August 2015 edition of Startup Saturday Delhi event, we decided to simplify the mysteries of Initial Stage funding.
The theme was set and a number of enthusiastic budding entrepreneurs flocked down to Ghalib Auditorium on 8 Aug 2015, eager to discover the best-kept-secrets of securing initial stage funding.
We had Mr. Anirudh Suri, Founder & MD of India Internet Fund, to kick start the proceedings. In his characteristic ease and quick-wit, he briefed the gathering about the biggest mistakes entrepreneurs make while fund raising. Approaching investors only when you are ready to fund raise, lacking enough knowledge about your market space, lying or manipulating the numbers and being unprofessional at meetings are some of the biggest blunders entrepreneurs make while pitching.
Our next speaker came with an endearing smile. Mr. Arpit Aggarwal, Principal, Blume Ventures talked about the best practices to keep in mind while pitching the idea to investors. He stressed upon the selecting the investor very carefully prior to approaching. He also provided valuable insights from the perspective of an investor, mentioning some of the key qualities he looks for while attending numerous fundraising pitches. Some of the noteworthy points are: have a solid team, show your undying commitment to starting up and use a strong referral to approach the investors. The session concluded with an enthusiastic Q&A.
Mr. Sandro Stephen, Head – North and South India Operations, India Angel Network, graced the event as the ultimate speaker for the evening. He came prepared with his crucial pointers on how investors want to be pitched. He urged all aspiring entrepreneurs to be prepared with Entry Barriers and the USP / Differentiator of their product. Besides, he also suggested everyone to demonstrate scalability, customer endorsements and the team behind the startup for being successful at fundraising.
Other key highlights of the evening included a lightning pitch by the founders of SeedX, Mr Vamshi Guthikonda. He briefed upon the role SeedX play in helping startups secure their initial stage funding. Moreover, Sonal Gupta and Rajarshi Guha presented a strong story behind creating Navrang – the colors of India, offering authentic Indian handloom. The audience watched with rapt attention as Team Pheonix Drones headed by Pranav Kalra who is a Class X student, demonstrated a working model of Drone – meant to keep a check on the increasing air pollution levels of the city.
The invigorating evening cleared the room for some hyperactive networking session. Taking a leaf back home from the event, several budding entrepreneurs fervently pitched their ideas to the investors, while enjoying light snacks.