Wednesday 25 April 2012

Venture Lab Bangalore Meet-Up

This last Sunday, the Venture Lab Bangalore met for a discussion session at Cafe Coffee Day, Lido Complex, MG Road. I was fortunate enough to have been picked up by Hari Rastogi (COO of Laptopwaale.com), a Serial Entrepreneur (yes.! He is in his 3rd Venture now). During the drive to the venue, we had a lot of discussions on the current situation of e-commerce Start-ups in India.
At the venue, I met some really good and passionate people. There were 11 of us with backgrounds ranging from Hi-Tech ones to Bio-technologists. Each one had a passion to make a difference to his own life and to the world. We started of with introducing ourselves to each other.
There were a lot of Start-up ideas presented and we brainstormed each one. It was amazing to see how people from diverse backgrounds brought new perspective to problems of the society. Hari started of with sharing his experiences of having been part of 3 Start-ups. We understood the Operations, Margins and Technicalities of an e-commerce venture. The main focus of his talk was the Venture Capitalist association with Start-ups. He shared his experiences with VCs, their expectations, Pros and Cons of having a VC backing one's Start-up. For Example, there was an instance when Hari made a presentation to a VC and VC was ready to support his B-plan but under the condition that Hari will have to work only on that project and leave all other stuff like Mentorship, B-School teaching. Hari made a choice not to leave that stuff and he did not get VC backing, however, he found some other investor interested in his B-plan.
Overall, it was an amazing experience for me, more particularly so because I am not from a business background. I had to learn so much from Hari and his experiences on real business intricacies. The Lessons learnt so far,
1. VC backing can change the face of business by giving enough cushion to Start-ups. Example: Flipkart
2. e-commerce market in India is still nascent. Opportunities are huge.
3. Every good idea cannot be implemented as and when it comes. Hari gave an example of a project which he considered long back but could not work on because of lack of reach of Internet in India. He has now started working on it.
4. Research is the key to success. Research as much possible to know the entire scenario of your Business idea.

Lastly, here is a talk about the "Secret History of Silicon Valley". The talk given by Steve Blank focuses on the history that created Silicon Valley. The fact to observe is that how innovations changed the world. As they say in Economics, Innovation is the driver of sustainable growth. After watching this, I was left INSPIRED..!!!

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