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getting funding for your business – venture capitalists , names and where to find them .
Before you get into pitching for your company / business to prospective investors, you need to be ready with three things:
An elevator pitch – you imagine that you meet this investor in an elevator, you have 10 – 20 seconds to introduce yourself, your company, the business need and the estimated profitability.
A 2 minute, behind the “restaurant napkin” calculation of the profitability, cost and the estimated selling product of your service and projected market share
Once you had these two cleared, the detailed plan starts – Marketing , Advertising , Staffing , Increasing sales , capturing the market share – this comes later , but you need to prepare for it.
Here are some venture capitalist funds , find them on (no particular order)
- catamaran.in (NR Narayan Murthy, co-founder of Infosys)
- Family Offices of other Infosys founders, Wipro Founders
- More at : https://inc42.com/resources/top-47-active-venture-capital-firms-india-startups/
- Flipkart founders ( Sachin and Binny Bansal )
- Ratan Tata (Tanishq , Ola , online furniture company )
- Alibaba ( Jack Ma and others founders – they have invested in PayTm, amongst others )
As of May 2020 , the flavours of investments are ( in no particular order )
• Fin Tech – Financial Technology – banks in your phone
• Ed Tech – Education Technology – education in your phone
• Med Tech- Medicine Technology – delivering medicines at home
• AI – Artificial Intelligence
• Smart Cities
• Machine Learning
Have a team – Team means that you have people with varied, complimenting skill sets that all move together towards a common goal.
Make sure the goal is clearly specified in the form of a VISION and Mission Statement .
TEAM means Together Everyone Achieves More .
Please make sure that the free flow of ideas is encouraged and brainstorming is a regular thing. Have short and sweet meetings .. have a solid agenda for the meeting ..
Amazon, for a lot of the initial years, was not profitable.
But in all the years, Jeff Bezos used to say, we are in it for the long haul, to capture market share
Not all investors are this patient.