Globally, India has the third largest number of start-ups. One of the essential step towards promoting entrepreneurship and self reliance among the youth is Startup India program. But still have you ever thought that where are we lacking behind?
Is it really propelling innovative solutions and creating employment? If not, what is missing?
The need of hour is that whenever an idea is generated, the implementation of that idea is necessary to make it working and the implementation requires an implementer, so here for the first time we bring you the person who gives a kick start to your start up idea.
Dr. Praveen Tiwari is EXCLUSIVELY speaking to Ajay Muttreja, Strategy Advisor & Mentor (Start-ups) about his expert guidance for the upcoming startups.
The right timing for Start up
One always wanted to know whether it is a right time to start something of your own or what is the current scenario of the market? To which Ajay Muttreja feels that India is at the cusp of evolving into its true potential of entrepreneurship. Startup ecosystem and culture of accepting failures is evolving slowly. In fact the craze for entrepreneurship and startups has influenced the rural areas as well.
“In the next 12 months, I anticipate few lakh new smaller startups will jump in this ecosystem. At least 30% will emerge from semi urban and rural areas.” –Ajay Muttreja
When asked about his definition for innovation and startups.
“Turning a novel or useful idea into a ‘solution’ that adds value from customer’s perspective is ‘Innovation’. It should have a viable business model.” –Ajay Muttreja
No more Capital trouble
Generally the new entrepreneurs mostly face the trouble for funding, but our Start-up mentor through his advises makes it easy to generate funds.
“In my opinion most new startups start exploring funding from investors at a very early stage age. If the startup has Unique Technology Advantage with secret sauce to continuously innovate (and create barriers for competition), there is no shortage of funds for this startup.” –Ajay Muttreja
Ajay also mentioned that the key essential for startups is to focus on ‘Customers Voice & Feedback’ and get acceptability of the innovation by getting few customers.
Big funding agencies:
VC’s ( Foreign & Indian)
Indian Family Investment Funds
PE’s
International Agencies including WB, USAID, DFID
Central & State Government bodies ( e.g. TDB of DST, BIRAC)
Banks ( e.g. YES, AXIS)
MNC’s ( e.g. Intel,
Facebook)
Indian Corporates
“I am associated with many of them. New startups can initially get funding for their business from Family & Friends besides Angel Networks (e.g. IAN, Tie). These big funding agencies should be approached only after they have acquired customers and there is clarity of repeat business with sustained revenue growth.” –Ajay Muttreja
Strategy Designing
Ajay Muttreja suggested for the brainstorming sessions with your own self for a perfect design of strategy of your startup, he further mentioned that one needs to be honest with intrapersonal in order to develop a robust ‘Road map and they are:
What is the problem that you are trying to solve?
What are your observations?
What do you see your potential user is doing?
What are they saying?
What do you infer that they are thinking?
What do you infer they are feeling?
How real is the problem being solved by you?
What is your solution?
How is your solution better than others?
If you have not found any other solution to this problem, please share where and how did you search for existing solutions and others being developed?
Is it worth solving this problem?
Is the solution worthy enough to be taken forward?
What investments are required for it?
What will be the returns:
– to the user
– to you
– to the investors,
– to Government
THE BIG MISTAKES A STARTUP DOES-
Rigid on their idea, don’t continuously alter their offering
Under-estimate the importance of ‘Right Hire’ and ‘Dedicated Mentors’
Weak road map for business sustainability and scalability
Tips for budding entrepreneur
– Passion to sell
– Positive Attitude
– Good listener ( and absorb like a sponge)
– Flexible to change quickly
– Attract & hire better talent and treat them as partners
-Before capturing a big market, capture a small one
– Work together in teams
Copying is not cheating
“There is nothing wrong in copying selectively and intelligently, Chinese companies started with similar approach and are now focusing largely on innovation and global market adoption.” –Ajay Muttreja
Today India has more than 40,000 startups with good eco-system and boom of consumerism and digital explosion. In the next 2 years, we will see few breakthrough inventions in India to meet big demand for unmet markets in India, Africa and other developing economies.
Government programs Boon or Ban?
Over 500 Initiatives of Central Government and many state governments are there, many of them are exceptionally impactful, but Ajay feels that they are still lacking somewhere.
“It should be further penetrated to smaller towns and rural areas. We should learn from mistakes and success stories. I can surely help in bringing my learning’s and insights as I have been fortunate to work with many of them.” –Ajay Muttreja
Implementer’s Helping Hand
For Startups kick start
Globally, India has the third largest number of start-ups. One of the essential step towards promoting entrepreneurship and self reliance among the youth is Startup India program. But still have you ever thought that where are we lacking behind?
Is it really propelling innovative solutions and creating employment? If not, what is missing?
The need of hour is that whenever an idea is generated, the implementation of that idea is necessary to make it working and the implementation requires an implementer, so here for the first time we bring you the person who gives a kick start to your start up idea.
Dr. Praveen Tiwari is EXCLUSIVELY speaking to Ajay Muttreja, Strategy Advisor & Mentor (Start-ups) about his expert guidance for the upcoming startups.
The right timing for Start up
One always wanted to know whether it is a right time to start something of your own or what is the current scenario of the market? To which Ajay Muttreja feels that India is at the cusp of evolving into its true potential of entrepreneurship. Startup ecosystem and culture of accepting failures is evolving slowly. In fact the craze for entrepreneurship and startups has influenced the rural areas as well.
“In the next 12 months, I anticipate few lakh new smaller startups will jump in this ecosystem. At least 30% will emerge from semi urban and rural areas.” –Ajay Muttreja
When asked about his definition for innovation and startups.
“Turning a novel or useful idea into a ‘solution’ that adds value from customer’s perspective is ‘Innovation’. It should have a viable business model.” –Ajay Muttreja
No more Capital trouble
Generally the new entrepreneurs mostly face the trouble for funding, but our Start-up mentor through his advises makes it easy to generate funds.
“In my opinion most new startups start exploring funding from investors at a very early stage age. If the startup has Unique Technology Advantage with secret sauce to continuously innovate (and create barriers for competition), there is no shortage of funds for this startup.” –Ajay Muttreja
Ajay also mentioned that the key essential for startups is to focus on ‘Customers Voice & Feedback’ and get acceptability of the innovation by getting few customers.
Big funding agencies:
VC’s ( Foreign & Indian)
Indian Family Investment Funds
PE’s
International Agencies including WB, USAID, DFID
Central & State Government bodies ( e.g. TDB of DST, BIRAC)
Banks ( e.g. YES, AXIS)
MNC’s ( e.g. Intel,
Facebook)
Indian Corporates
“I am associated with many of them. New startups can initially get funding for their business from Family & Friends besides Angel Networks (e.g. IAN, Tie). These big funding agencies should be approached only after they have acquired customers and there is clarity of repeat business with sustained revenue growth.” –Ajay Muttreja
Strategy Designing
Ajay Muttreja suggested for the brainstorming sessions with your own self for a perfect design of strategy of your startup, he further mentioned that one needs to be honest with intrapersonal in order to develop a robust ‘Road map and they are:
What is the problem that you are trying to solve?
What are your observations?
What do you see your potential user is doing?
What are they saying?
What do you infer that they are thinking?
What do you infer they are feeling?
How real is the problem being solved by you?
What is your solution?
How is your solution better than others?
If you have not found any other solution to this problem, please share where and how did you search for existing solutions and others being developed?
Is it worth solving this problem?
Is the solution worthy enough to be taken forward?
What investments are required for it?
What will be the returns:
– to the user
– to you
– to the investors,
– to Government
THE BIG MISTAKES A STARTUP DOES-
Rigid on their idea, don’t continuously alter their offering
Under-estimate the importance of ‘Right Hire’ and ‘Dedicated Mentors’
Weak road map for business sustainability and scalability
Tips for budding entrepreneur
– Passion to sell
– Positive Attitude
– Good listener ( and absorb like a sponge)
– Flexible to change quickly
– Attract & hire better talent and treat them as partners
-Before capturing a big market, capture a small one
– Work together in teams
Copying is not cheating
“There is nothing wrong in copying selectively and intelligently, Chinese companies started with similar approach and are now focusing largely on innovation and global market adoption.” –Ajay Muttreja
Today India has more than 40,000 startups with good eco-system and boom of consumerism and digital explosion. In the next 2 years, we will see few breakthrough inventions in India to meet big demand for unmet markets in India, Africa and other developing economies.
Government programs Boon or Ban?
Over 500 Initiatives of Central Government and many state governments are there, many of them are exceptionally impactful, but Ajay feels that they are still lacking somewhere.
“It should be further penetrated to smaller towns and rural areas. We should learn from mistakes and success stories. I can surely help in bringing my learning’s and insights as I have been fortunate to work with many of them.” –Ajay Muttreja
Implementer’s Helping Hand
For Startups kick start