Network to Succeed

Network to Succeed.

Artha Venture Challenge 2014 – Apply

June6

The Artha Venture Challenge is an interesting opportunity for social enterprises – a national challenge seeking to identify and reward up to 15 social ventures in India.

The Artha Venture Challenge is an intensive 12-month program that is designed to social enterprises to raise investment of between INR 30 lakh to 100 lakh (USD $50,000 to $200,000). The AVC makes it easier to attract early stage, patient capital by providing up to INR 30 lakh (USD $50,000) of match funding. AVC works with early stage social enterprises to build a compelling growth story, finding investors, making strategic connections and supporting you as an entrepreneur during the journey.

AVC is looking for up to fifteen ambitious social ventures to grow their enterprises to deliver impact at scale in India. Ventures selected as part of the Artha Venture Challenge cohort will get:
• The exclusive opportunity to apply for INR 30 lakh (USD $50,000) funding if matched by at least the same amount in co-investment
• Exposure to a closed network of impact investors
• Connection to a network of experienced entrepreneurs, specialists and business leaders
• Investment readiness support including pro bono legal services
• Profiled as ‘one to watch’ amongst the top fifteen most high potential social entrepreneurs in India
Enterprises based in India operating in agriculture, energy, water, livelihoods and other sectors that have completed proof of concept and are seeking growth investment are invited to apply. Nominations and applications are open until June 11, 2014.

The enterprise selected as part of the final cohort, will receive tailored access to experienced mentors, connections to a closed group of impact investors, significant media coverage and the opportunity to pitch for USD 50,000 in equity investment if matched by the same amount in co-investment.

Feel free to submit your application by this week. Given your work, I encourage you to review the selection and eligibility criteria in full and take advantage of this unique opportunity.

Should you have any questions regarding this challenge, please feel free to contact us.

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Hiring Opportunities – High Potential Startups

May27

Here is a monthly round up of key startups looking for talent, in case any of the job profiles interest you please follow the link or write into me.

Ennovent

1. Director Expertise:
Job Objective:To develop and manage the successful delivery of Ennovent’s expertise and client deliverables.
Position Type:Full time, home based
Location:Anywhere in India
Application Deadline: 1st June 2014

More Details on this Link.

2. Manager Ennovent Solutions:

Job Objective:To oversee and support the design and delivery of Solutions services
Position Type:Full time, home based
Location:Anywhere in India
Application Deadline:1st June 2014

More Details on this Link.

3. Manager Ennovent Advisory:

Job Objective:To oversee and support the design and delivery of Advisory services
Position Type:Full time, home based
Location:Anywhere in India
Application Deadline:1st June 2014

More Details on this Link.

BANKSMARTS
Business development among new and existing clients, as well as maintaining and developing client relationships in the Banking/ Financial Services industry. Candidate will carry a sales target, initiate client contact, and work with senior management to develop business. As part of business development activities, candidate will be required to make sales calls, write proposals, create and deliver customer sales presentations, and regularly follow-up and resolve client queries, as well as develop relationships and business at existing clients.

Since our solutions are highly-differentiated and expertise-led, candidate needs to be motivated to learn, to develop and demonstrate expertise in Banking operational processes.

For more information, visit: http://www.bank-smarts.com.

TiE Delhi-NCR

Associate Marketing – Associate to do market research and generate sales leads.

Communication Manager – Communication manager with 3 years of experience in content writing, marketing collateral and sponsorship material.

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Breaking Barriers – Empowering You to Go Beyond!

May21

At Breaking Barriers a company I’m currently advising we turn barriers into opportunities for personal growth & empowerment. We work with you, to explore, understand your thoughts, feelings and actions in order to turn blocks into opportunities for growth. We provide a range of services to help clients overcome their limitations and break their barriers to find a way forward.

At Breaking Barriers we are trained in the art of listening and have skills to help you explore your concerns, make sense of complex issues and clear the web of confusion to regain objectivity. We work with our clients as facilitators therefore it’s not suggestions and advices, the journey is about tapping strengths and choosing healthy options and enhancing decision making.

Breaking Barriers works with individuals, corporate houses and educational institutes and provide a wide range of services to enable our clients to overcome their barriers and achieve success in both their personal & professional lives.

For more details on How Breaking Barriers can support you as an individual, corporate or an educational institute please log on too http://breakingbarriers.co.in/.

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TiE Institute Session: Getting Performance Management Right @ 25th April 2014

April22

Managing employee performance at a start-up can be hugely challenging, with employees multi-tasking, making it difficult to set clear performance measures. With rapid growth, metrics change frequently and new goals and responsibilities get added frequently.

It is difficult to give individualized attention to employees and track their work activities. That said, managing performance is absolutely critical. With limited resources of startups, you want maximum bang for the buck. In large companies, under performers may disrupt goal attainment for their specific areas. But in a start up, an under performer could throw the entire company off track.

Start-ups battle with key questions on a daily basis related to performance management:
-How do I arrive at building the right scorecard for my organization?
-How do I effectively define the goals and objectives using tools like MBO etc?
-How do I build a high performance culture which incentives and rewards high performers?
-How can I using the performance management framework as a tool align resources, systems & employees to strategic objectives & priorities?
-How do I share feedback more effectively with employees which can reinforce the right behaviors and enhances motivation.

In an attempt to answer some of the above questions TiE institute is conducting an interactive session on the “Getting Performance Management Right”. The session will give you a comprehensive sense of the tools and frameworks for performance management.

The session will be conducted by a very experienced panel of entrepreneurs & experts such as Jyotirmoy Bose, CEO-White Spaces Consulting, Vivek Kapoor, Co-Founder, Dineout & Navyoug Mohnot, CEO, QAI. They will share practical tips and insights for entrepreneurs from their own experiences on how to use and implement effective performance management tools for organizations.

About the Speakers:
Jyotirmoy Bose
Jyoti has over 25 years of diverse exposure across Manufacturing, Financial Services, Information Technology, Consulting & Media industries. Jyoti brings strong conceptual & hands-on experience in enhancing organizational effectiveness, productivity and profitability for mid-sized companies. Jyoti also sits on the Board of a few IT Product & Service companies.

Vivek Kapoor
As one of the Co-founders of dineout, Vivek Kapoor heads the Operations and Sales team of a table reservation website that provides fantastic discounts for FREE, since its inception in 2012. Before embarking on a new venture in e commerce, he has spent a considerable amount of time offshore. He joined the Merchant Navy when he was 18 years old as a Cadet for two years with Vships. Post clearing his 2nd Mates for Foreign Going Vessels, he joined British Petroleum. His skills and expertise in Maritime Operations, International Shipping, Sailing, Ports etc. made him cap the safest ship award in the fleet during his tenure at BP shipping as a Safety Officer. Also, having sailed for almost 30 months as a 2nd Officer, he has been applauded with a Chief Officers Certificate of Competency from DG Shipping, India.

Navyug Mohnot, CEO, QAI Global
Navyug Mohnot is an alumnus of the Indian Institute of Technology, Delhi. After his B.Tech from IIT, he went to the US on a fellowship, to do a PhD from the University of Rochester. He returned to India and set up QAI India to evangelize the concepts of Process and Quality. Over the years, QAI has pioneered the deployment of best practices in the area of Operational Excellence. Navyug has been awarded the IIT Alumni Award for “Outstanding Contribution to National Development”. In a survey by Dataquest, the leading IT trade press publication, he was recognized as 1 of the 50 leaders who have shaped and are shaping the Indian IT industry.

Program:
Date: 25th April 2014
Registration: 2:30 pm to 3:00 pm
Session: 3:00 pm to 6:00 pm
Venue:
Casurina Hall, India Habitat Centre, Lodhi Road, New Delhi
Fees:
TiE Members: Rs 400/-
Non TiE Members: Rs 800/-
Register Here- https://s01.123signup.com/servlet/SignUp?P=15226241911427880400&PG=1522624182300

posted under Ecosystem, Events | Comments Off

GSF Accelerator:1st Global Accelerator Program: Applications Open!!

April4

GSF now goes global with the launch of GSF Global Accelerator, a first-in-the-world cross-border accelerator program. 12 high-tech startups will be selected for the program: 8 from India and the rest through our strategic alliance partners in South East Asia, Eastern Europe and North America. These startups will join us on a journey of 13 weeks through India, Singapore, Silicon Valley, New York, Toronto and Boston. Its objectives:

Thirteen week program starts on May 5, 2014 and will run across:
Delhi & Bangalore: May 5 – May 31, 2014
Singapore: Jun 1 – Jun 7, 2014
San Francisco: Jun 9 – Jul 10, 2014
Toronto: Jul 12 – Jul 20, 2014
New York: Jul 21 – Jul 29, 2014
Boston: Jul 30 – Aug 1, 2014

Weekly agenda for each city during the 13 week program:
Mentor Office Hours – Tuesday
Three mentors come in for 2-3 hours each for one on one interaction with a few startups.

Master Classes/Workshops – Wednesday
One workshop of 2 hours with an expert to deep dive into specific topic

Ecosystem Outreach – Thursday
11am-1pm at a large Tech Company | 2-4 pm at a fast growing Startup
430pm – 6:30 pm discussion or informal mixer an Angel Group or Venture Capital firm

Friday – Monday Startups work on their products or go out on independent meetings

Demo Days
GSF Global program will return to each city for a demo day at the end of the program to showcase startups to investors and industry leaders of that city.

GSF Global Mentors
Accomplished entrepreneurs, corporate executives, academics, VCs, Angel Investors, together with experts in areas like growth hacking, design and digital marketing from organizations like:
Facebook, WhatsApp, YouTube, LinkedIn, Zynga, Evernote, Sequoia Capital, Greylock Partners, Canaan Partners, Accel, SoftBank, Y-Comninator, 500 startups, Intuit, Lyft, Spotify, InMobi, Nokia, MIT University, Stanford university

Applications accepted here: http://www.gsfindia.com/apply/ last date to apply 10th April 2014

posted under Accelerator, Accelerator/Incubator, Ecosystem | Comments Off

Going Beyond Business – Foundation to Successful Entrepreneurship Part 1.

March9

In over 12 years of experience with start-ups either working directly in one or being part of entrepreneurship accelerator organizations like TiE & Ennovent. I have observed for successful entrepreneurship while the technical elements like business model, market opportunity and product-market fit are important – what essentially does get looked over by most entrepreneurs and founding teams is the behavioral aspects and attitudes of the entrepreneur or the founding team.

With this background I wanted to cover couple of key aspects over a small series from my observations on founding team mindsets, their vision for the enterprise and in turn their behaviors which actually drive the business and leads to scale.

In this post my focus is going to be on the VISION of the enterprise and more importantly of the founding team. My observation on vision is not so much about what the organization or start-up will be and what impact it will have the typical jargon we see on vision statements but more on “WHY DO YOU WANT TO DO THIS” this is a question that the lead entrepreneur and the core team have to ask themselves not only before plunging but also in the journey.

Even sitting on the other side of the table in running an investor group we are now constantly asking entrepreneurs on:-

- What made them take the plunge and start this venture?
- Why they would give up something equally if not more lucrative to plunge towards entrepreneurship?

Typical responses I have seen on why I want to be an entrepreneur range from “I want to be my own Boss” to “I want to make lots of money” or “I want to be famous like Richard Branson”.

Other more mature responses are “I want to create meaning” or “create a large scale impact” or “leave a legacy”. While there is absolutely nothing wrong with these motivations and drivers and has lead to success – for long term success it’s very important for entrepreneurs to be clear as to why they want to do this. I’m not talking of about the vision of the enterprise or the business models or the product/service offering what I’m referring to is more fundamental – WHY SHOULD I START A VENTURE & CAN I SEE MYSELF IN IT FOR THE NEXT 10 YEARS?

Entrepreneurship is a marathon and not a sprint before we plunge we should think around:-

FUNDAMENTAL:
- What I’m really passionate about, what turns me on is it temporary or permanent?
- Can I commit between 5-10 years to do this venture day in day out?
- Can I accept failure not just if the venture fails but when thinks don’t work out in day to day operations?
- Will I be fine if things don;t go as planned and more importantly at the necessary speed?
- Can I put skin in the game – capital, resources and whatever else is required to see the venture through? Essentially close my back door?

TACTICAL:
- Is there size able number of customers who would be willing to pay for the solution?
- Do I have the write team/expertise to pull it through?
- Is the market opportunity large enough?
- Is my service/product offering a more of a can have or a must have for the customer?
- Is there a real differential in my offering can it lead to creating of entry barriers.

So before you plunge in or have already plunge in think as to why you started, what was your vision and what changed along the course :)

posted under Entrepreneurial Spirit, Leadership | Comments Off

Round Up for 2013 – Venture Capital in India – The Summit Push – Alok Mittal

December23

Its always great to see Alok’s perspective given that he is one of foremost and respected VCs in India. His perspectives on the trends to look out for in the year 2014 serves as an interesting touch bearer for the start-up ecosystem.

Largely his points revolved around taking global product innovations coming out of the Indian market see more such innovations at http://productnation.in/. He also spoke about mobile application startups – given the large base of mobile consumers in India, and the nature of India as a mobile-first market, innovation in mobile applications could also lead to global leaders in the space. From an ecosystem point of view the strong performance of Indian startups on the exit front. 2013 marked a watershed moment as far as exits of technology venture backed companies such as Justdial, Redbus, GlobalLogic and Prizm.

Thirdly, 2013 reversed the policy tide to assist the flow of foreign direct investment in India. From relaxation of FDI limits to rationalization of GAAR, and from IPO facilitation to allowance of preferential clauses for investors, the silent wave of reforms in the latter half of 2013 has started to undo the damage that the regulatory arrogance of 2011/2012 had initiated.

I definitely agree with Alok and I believe the other major aspect is around the angel investing ecosystem which is definitely showing signs of maturity with several new angel networks, angel funds and more importantly angel investments closing. Overall there does not seem to be a better time to be an entrepreneur since both the micro and macro environments are riding on a friendly tide :)

Read Alok’s full article here – http://www.venturewoods.org/2013/12/venture-capital-in-india-the-summit-push/

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Ennovent Impact Investment Holding and Ankur Capital invest in Assam based eye care company, ERC Eye Care Pvt. Ltd through the Ennovent Circle

December17

Very happy to share that Ennovent Impact Investment Holding and Ankur Capital along with Ennovent Circle members, Beyond Capital Fund and Sadeesh Raghavan closed an angel investment round in Assam-based eye care company, ERC Eye Care Pvt. Ltd (ERC) today.

The investment in ERC is the second investment made by Ennovent’s Impact Investment Holding and also the third deal facilitated by the Ennovent Circle – an exclusive group that collaborates to accelerate innovations for low-income markets – since it’s launch in April 2012.

According to the World Health Organization, 18.8% of Indians suffering from cataracts belong to the state of Assam. Founded by Guwahati based ophthalmologist, Dr. Parveez Ubed, ERC provides affordable, quality eye care to underserved communities in North East India through a hub and spoke model with vision centre’s, satellite clinics and a hub hospital. ERC also offers primary medical services such as optical retail, pharmacy and consultation services.

ERC’s current setup includes 3 vision centers in Jorhat and nearby areas. The company also runs camps to reach out to smaller villages where setting up centres is not economically viable. For its work, ERC has won several awards including Mahindra Spark the Rise and Eureka of IIT Mumbai amongst others.

With this investment, ERC aims to expand their operations and provide affordable, accessible and inclusive eye care across the various districts of Northeast India.

“This investment will enable ERC to not only expand the number of vision centres we operate currently but also to launch our first hub hospital. We also hope to further scale ERC’s IT systems, telemedicine facilities and quality standards”, says Dr. Ubed.

Speaking about the investment, Saurabh Lahoti, Director – Finance at Ennovent says, “ERC delivers strong value by leveraging the hub and spoke model to deliver quality eye care services at a cost lower than the opportunity cost of travelling to a nearby district for similar services.”

The Northeastern states of India have the highest prevalence of blindness in the country. In Assam, ERC is making an impact by keeping its capital and operating expenditures low; thereby enabling the company to providing affordable eye care, especially in the remote villages that have hitherto not had access to such services.

Ennovent Circle member and angel investor, Sadeesh Raghavan, further adds, “ERC with its portfolio of eye care services is backed by a passionate team and will impart a huge social impact in Assam where limited healthcare infrastructure, especially for eye care exists. The Ennovent Circle has done a tremendous job in matching high potential sustainable enterprises working in low-income markets such as ERC with like-minded angel and institutional impact investors.”

More on Ennovent at www.ennovent.com

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Virtual CFO For Start-ups – CFO Connect

December9

As start-ups we face several challenges related to finance & accounts right from inability to get correct financial information to take informed decisions/understanding business viability. Or spending too much time resolving / figuring out finance and accounting issues and battling with poor cash flow management.

The answer lies in Virtual CFO Services which is a part time CFO having substantial corporate finance experience who guides a start up’s finance function at a flexible/affordable cost.

•The vCFO trains and manages your finance department employees to efficiently handle day-to-day activities. He will also addresses non-day-to-day issues (these vary based on the client’s individual needs).

For example:Developing financial analysis/MIS to better understand results and to make better decisions
Identifying, tracking, and analyzing key performance indicators (KPI), improving efficiency and reducing costs.Helping other department heads be more effective by providing more and better information and analysis and establishing performance metrices.Contributing to the strategic planning process; new products/business roll out, acquisitions, funding; creating financial projections, pricing Evaluating, modifying, or creating systems, policies and procedures where needed

Engagement Model: Depending upon the requirement, the vCFO will spend anywhere from half a day a week to 2/3 days a week with client organization
•For NCR based clients vCFO will be physically present at client office to interact with client teams
•For non NCR clients a combination of remote management and periodic on site visits will be made
•Though vCFO is physically present at client office for an agreed period of time, he is on call at other times thus ensuring “round the clock” availability
•For a group of companies a shared services model can be considered.
•Fee charged is based on time to be spent

Value proposition for Virtual CFO is really their team as highlighted below.

Anurag Gupta
Anurag is a financial management professional and has wide experience with global multinational companies. He has previously held senior management positions with the American Express and Colt Telcom in Asia. He has expertise in ERP systems, transaction processing, outsourcing and financial services. He has successfully set up and managed large scale back office operations and is an expert in the area.

Ashwini Dewan
A veteran in the field of corporate finance, Ashwini has more than two decades of experience in the corporate sector. His forte is in providing organisations with strategic inputs on enhanced financial discipline, legal and statutory compliance, risk mitigation and financial controls. Ashwini has led finance, accounts, audit and commercial functions in range of companies including Price Water House, Xansa, Venture Infotek and Parsec Technologies.

Bhavna Thakur
Bhavna is a commerce graduate and a Chartered Accountant with over 12 years of experience. She is an All India rank holder and has worked with multi-national companies in the past e.g. Glaxo Smith Kline consumer healthcare limited, Genpact as Senior Manager Quality and Jubliant Energy Limited. She is a good communicator and has handled assignments related to Finance Operations, Financial Planning, and reporting and Tax matters. She has an eye for numbers and has the natural ability to evoke confidence in her.

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Companies Act 2013 – Impact on Private Equity and Venture Capital Funds

December4

The recently enacted Companies Act, 2013 (the New Act) is a landmark piece of legislation
and likely to have far reaching consequences on all companies incorporated in India. The
erstwhile Companies Act, 1956 was in existence for well over fifty years and was lately seeming
quite ineffective at handling present day challenges of a growing industry and the complexities associated with the growing stakeholders’ interest.

The New Act promises to substantively raise the bar on governance and in comprehensive
form purports to deal with some very relevant themes. On the flip side, it appears to be quite
pervasive and thrusts greater responsibility and obligation on the Board of Directors and
the Management in Indian companies.

Amity Innovation incubator, Amity Campus, Noida.Companies Act 2013 is Organizing a special session on Thursday, 12th December 2013 from 3.00 – 6.00 pm. Impact on Private Equity and Venture Capital Funds and their portfolio companies’ through the following six themes:

• Rigour on ‘Increased Reporting Framework’
• Emphasis on ‘Investor protection’
• ‘Easing Restructuring’ of companies
• ‘Onerous Responsibility’ on Board
• Higher ‘Auditor Accountability’ Independent Director, Audit Committee, KMP
• Push on ‘Inclusive Agenda’ (CSR)

For more details, please contact Ms. Dolly Goklaney at 91 9810929984 or dgoklaney@aii.amity.edu.

posted under Events | Comments Off
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This is a forum for entrepreneurs and professionals to connect, learn and grow with each other. The objective of this blog is to give you access to relevant resources, business opportunities and networking opportunities to enhance your entrepreneurial and professional lives.

About Author:

Digbijoy has a wide ranging experience across diverse sectors, initially started his career in education marketing with reputed educational institutes and then subsequently joined the advertising and events industry to execute several projects including a state election campaign for a national party, conceptualizing and running a restaurant chain in Delhi and several other projects.

He joined the Delhi chapter of The Indus Entrepreneurs (TiE Delhi), where he worked for over 3 years and drove various key initiatives like mentoring, deal flow, marketing, sponsorships etc and left his last position as Associate Director of the chapter in 2008 to pursue his entrepreneurial ambitions. He subsequently joined techTribe- India largest Career Networking platform where he served as director strategic relations and drove unique initiatives and partnerships for building and sustaining community engagement. Post techTribe he co founded an online supplemental education start-up – TenMarks Education INC. which was acquired by Amazon.com in October 2013.

Post TenMarks he lead Ennovent India as its country director which is an innovation accelerator. Ennovent provide services to accelerate innovations for sustainability in low-income markets in developing countries. It specializes in helping clients discover enterprises with novel solutions, develop business models to start-up enterprises, provide finance by facilitating early-stage investments and grow operations to scale profit and impact. Since 2008, Ennovent has worked with over 4,800 Network members, 15 Circle members and 10 Solution clients to accelerate over 80 innovations in 10 countries.

Currently Digbijoy Co-leads the Startup Program for Amazon Internet Services Pvt Ltd enabling the best startups leverage the power of cloud.

Lets Connect:-
Email: digbijoys@gmail.com
Linkedin: http://in.linkedin.com/in/digbijoy
Twitter: http://twitter.com/digbijoy

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