G V Ravishankar, Managing Director, Sequoia Capital busted a few VC funding myths. He mentioned that there are quite a few investors for early stage companies who are practically entrepreneurs behind the entrepreneurs.  He provided a useful answer to the question, “What checklist should a startup look at before approaching a VC for funding?” Leaving your old job to run your new venture, investing your own money, selling some of your ideas/products, hiring others, or laying out a clear value proposition could be some of the ways employed to convince those listening to your idea.” He left the audience with a couple of questions that entrepreneurs should ask themselves, “What market problem are you trying to solve? Why are you solving it(beyond personal gain)?”

Jayaram Pillai, Managing Director, National Instruments(India, Russia, Arabia) said that NI encourages entrepreneurial engineers seeking support and tools. National Instruments builds products for engineers and scientists and considers providing support to engineers. “We provide engineers with support and tools to build products. In India, these tools are expensive but we provide them to entrepreneurs so that something of value is built using their help.” His advice to the entrepreneurs and future entrepreneurs in the room - people are important, so hiring right, is key to your organizational growth.

Vimal Abraham from IBM India emphasized the need for startups with global ambitions and those that are trying to solve real-world problems. “We at IBM are looking for partners to build a smarter planet” he highlighted. He went on to explain how IBM can support entrepreneurs in the early areas of evolution – highlighting product, people, promotions, and financing as some of these areas. “What market problem are you solving? You don’t have to solve the whole problem yourself. Partner with key players at an early stage and build on existing frameworks,” he advised entrepreneurs.

Phanindra Sama, founder of redBus, felt that it is important to depend on the problem you are trying to solve, wait to find someone who is interested in what you are doing, and then gain access to resources, mentors and investors. “Hiring the right people is important as well as challenging”, he added. “Just be yourself”, was his parting note to the entrepreneurs in the room.

For more insights from the panel discussion at TechSparks 2011 Hyderabad Regional RoundTable, please check out the #tsparks twitter stream here.

- Jessie Ruth

Narendra went on to explain that applications are currently driving consumption by fuelling how we communicate, socialize, learn, entertain, create and share experiences, do business, and transact with money. ‘Localized applications are key to emerging economies,’ he posited. Currently most applications focus on the lifestyle aspect of consumers as opposed to the livelihood aspect.

Intel provides one architectural framework supporting many devices, but sharing a common framework. The benefits of this framework are seen when considering the available form factor of devices, the changing definition of the TV(TVs are growing bigger but the amount of time spent on smaller screens is growing as well), the reinvention of the PC(though there’s a range of options, quality time is also spent on the large screen as well). His advice to developers, “Don’t be biased towards the smaller screen. Think of users and build for them.” Making an app scalable across different devices and screen sizes would help succeed in roping in all available users.

Developers can choose from multiple OS options as they are all supported by Intel. He reiterated, “Apps are transforming us. They are impacting our lifestyle. You are mirroring your lifestyle on your phone.” Intel offers the Intel AppUp developer program, tools, guides & essential resources to developers. “We are an ecosystem player,” Narendra stated.

“Apps should go from 4-40 inches,” he mentioned emphasizing the need to keep in mind diverse devices and platforms. The sensory infrastructure of devices in terms of context, motion, location should also be kept in mind and taken advantage of. Speaking to the aspect of user experience, he said, “There is a perception formed when someone sees an app. Build capabilities with that in mind.” His parting note was “make the moolah”, since distribution mechanisms are expanding.

Narendra’s talk was truly inspirational and informative for entrepreneurs and developers at TechSparks Hyderabad.

If you are an app developer or an entrepreneur in mobile/netbook app space, Intel & YourStory.in’s TechSparks 2011 App4India is a must consider for you!

- Jessie Ruth

Along with batch-mates from BITS Pilani, he initially considered venturing into redBus as a part-time job. “Business was not on our mind,” Phanindra mentioned. Since none of them had a web technology background, they started by reading up and figuring out the space themselves and using their common sense mostly. “We wanted to do something to solve this problem, and our educational background has given us the analytical skills required,” he offered.

Phanindra went on to explain that they currently have three products – BOSS for bus operators that provides the easy access to bus information and seat inventory, redbus.in which acts as a consumer facing travel agency, and Seat Seller which provides information to travel agents. “Each product fuels the other and growing one product also results in growth of the others,” he added. They have call centers, a website and franchisees in Mumbai and with this they have taken a ‘highly fragmented bus industry’ and shaped it by aggregating information and centralizing it.

Phanindra also went on to point out the opportunity that they see as a business. The bus industry is a $2.5 billion unorganized business. redBus currently sells around 220 million tickets/year(contract carriage buses). The market is growing at 35-40% p.a. Other factors in favour of this growth are better roads, increased urbanisation leading to an increased need for travel,  and scalability (with the lack of a need for railway tracks/airports).

What makes work exciting for Phanindra and his team is the contribution and the ability to full fill a need. “Launching redBus.in has created a level playing field in the bus industry due to its unprecedented distribution with one main distribution network, providing access to nearly 40,000 travel agents across the country”, he says. They are able to research and help bus operators start new routes which goes on to help increase the market size. The technology aspect enables the supply demand match by helping both bus operators and customers. When trains are canceled, they are able to see the requirement and reorganize routes/buses.

Their business enjoys a huge network effect and they enjoy high trust from bus operators since they stuck to standard commissions and didn’t ask for an increase based on increased volumes. Staying format independent by ensuring an online presence, having call centers as well as franchisees ensures that they fit in as an organized travel company in India. They are also excited about BOSS installations in Bangladesh and Malaysia.

We at YourStory.in are humbled by entrepreneurs like Phanindra Sama who focus solely on solving major market problems.

- Jessie Ruth

Nitin openly and honestly shared his entrepreneurial past and brought the audience up to speed on how launching MartJack was a blend of the founders’ backgrounds in web business as well as retail. MartJack helps retailers get leads and gets them started on their e-commerce initiatives. With it, they have built an ecosystem of partners and then started multi-channel initiatives(involving payment gateways/logistical transport services/online marketing), focused on growth through exchange, and removed the common barriers that keep Indian retailers from setting up shops online.

“Retailers stick to ROI tools,” he said and went on to explain how MartJack offered retailers exactly that. He spoke about the two distinct buying patterns of Indians. Indians either shop for products sold by big brands or purchase local products and typically visit a fixed set of online properties. There is a clear gap between retail inventory and end users. Creating this multi-channel digital commerce platform has been a positive step in the direction of addressing this gap profitably.

Later, he talked about the benefits of hosting their platform on AWS cloud.

Please know more about this technology venture and their products by visiting their website http://www.ereasoning.com/

- Jessie Ruth

App4India 2011

Are you a developer? Would you like your app to make a splash at the national level? Would you like your app to be recognized by Intel as one of the best in India? Would you like to win Rs.50,000?  If Yes is your answer to all these questions, then App4India is your stairway to success!

How does one participate in the App4India contest?

If you have an app ready or under development such that it will be out by August 2011, simply fill up this form. The top 10 apps selected by Intel & YourStory.in will be showcased during the grand finale of TechSparks 2011 at Bangalore on the 19th of August 2011 along with the winner of the Rs.50,000 App4India prize!

Am I eligible to take part in the App4India contest?

All developers based out of India aged 18 years old and above who have apps that are ready or will be ready by 10th August 2011 are eligible to contest. There are no restrictions on the platform on which the app is based or the category under which it falls. Yes, any app under the sun can win!

What is the criteria for selection at App4India?

The App4India winners will be selected based on utility, user experience, novelty, engagement strength and the ability to monetize.

What do you get?

Cash Prize of Rs.50,000

Chance to sell out of Intel AppUp Store

National Recognition

PR and Strong Visibility

Excited? Then, why wait! Please fill the form here to participate. All the best! We look forward to your participation.

Write to chandan@yourstory.in or varsha@yourstory.in for any further details.

• I am a TamBram, so probably there has not been a entrepreneur in my family for 100 generations.”
• He first started “AskMe” in 1989. Ran out of money in the first two years – too many meetings in 5-star hotels, and too many high-quality, high-salary employees. And since he was the sole breadwinner of his family, he had to go do something else to earn money. So, JustDial really started in 1996.
• This incarnation of JustDial did not repeat the mistakes of AskMe – so the first office was tiny – 300 sq. ft., and did not move to a bigger place unless absolutely necessary. Rented everything possible, including chairs, tables, computers, and even LAN network cables.
• Focused on many small customers (instead of a few large customers). And took money in advance. Helped with cash-flow (because there was little VC money in India at that time, and none at all for a new business model.)
• When the dotcom bust of 2000 happened, most internet based companies collapsed, but JustDial was only minimally affected, because they had been conservative about betting on the internet.
• Decided to bet big on voice enable local search and marketing around 2002.
• Met a VC, who told them that he wasn’t interested in their existing business, but would fund them if they converted to a BPO. This convinced them to not pursue VCs any more. This remained true until 2006, at which point a VC approached them, heard their story and signed a term sheet the next day.
• They finally launched the web-based version in 2007. Lost of internal conflicts about whether to do this – because of the fear that the internet business would cannibalize the voice based business. Interestingly, their internet business grew like a hockey stick, and at the same time the voice-based business continued to grow at the same rate as before.
• Rode the telecom penetration and internet penetration wave on the way to fantastic growth.
• It appears that further growth in metros is not possible because the market is already saturated. But, India is not just a metro-based market. JustDial will go to all the small cities.
• The JustDial WAP site is growing at a tremendous pace.
• Apps (Android/iPhone/Blackberry) are being launched next month
• Throughout the journey, there have been naysayers. The second time he re-started JustDial, everyone told him that it was a bad idea to re-start a failed business. When they launched the web-based version, people told them that they were not a tech company, and would fail in this segment. Now the same story is repeating with their app-based business that they’re launching in the US market. (What they’re seeing that “human assisted search” is finding a lot of takers in that market – where talking to actual humans is rare.)
• JustDial.com has the largest number of reviews and ratings in the world – 2.5 million. The secret sauce? Most people don’t actually go online and give reviews. Most online review sites have paid staff generating “reviews”. JustDial calls their voice customers back for ratings/reviews and then uploads them to their site.
• It’s difficult to give one-line advice to entrepreneurs. But here’s an attempt: Remember, entrepreneurship is different. It’s not like a regular job. It’s a calling. So don’t do it unless you have it in you. It has to come from inside. Not because someone told you. Or copying someone else. And remember, there will be lots of failures. And learn from them. Don’t do minor, incremental things that copy someone else’s idea. Do something disruptive. Don’t do coupons.

JustDial is a great India success story! We at YourStory.in hope Entrepreneurs like Mani inspire many such stories coming out of India in the next few years.Update by TechSparks Pune Outreach Partner, Navin Kabra, Founder of Pune Tech

Probir Roy, founder of Paymate

Sachin Kelkar, Head of Intel Software Partner Program

Shailesh Lakhani, from Sequoia Capital

Kris Nair, Partner, Opdrage Venture Partners

VSS Mani, Founder of JustDial

There where various questions and answers – I’ve tried to capture some of the more interesting quotes:

(Shailesh) It should not be easy to raise money. Lots of people who ask for money don’t deserve it. At early stages, people invest based on the people and not on the idea, because the idea isn’t really worth anything. And that’s the job of angel investors. Angels are slowly increasing in India.

(Mani) Focus on doing the best with you already have. Focus on existing customers and keep them happy. Don’t focus on what you could do if you had money. Forget the fancy stuff. Align the interests of your early employees with the interests of the company. So they should see that if the company does well, they do well.

(Mani) Don’t wait for a miracle to happen. Don’t wait for an angel to appear. Just focus on ensuring that your tomorrow is better than today. Focus on a small, core set of customers, and keep them happy. They will become your evangelists, they’ll get you more customers, and they’ll help you get investors.

(Shailesh) In deciding whether to invest in a company, we look at the size of the potential market, and a good (strong, intelligent, thoughtful) team.

(Probir) Entrepreneurs look for new business models. MBAs help administrate existing business models. Know the difference!

(Probir) Chances of you getting VC funding in India are low. So keep looking for alternative funding models.

(Mani) Timing is very important. We had a brilliant idea (JustDial) in 1989, and even had money. But it failed because it was way before its time. Analyze carefully whether your idea is before its time.

Brilliant question from audience. An entrepreneur (from SpotMyGadget) just got up and asked this question (without waiting for permission of the moderator): “How shameless should an entrepreneur be when approaching clients/etc?” Answer, from Mani was – as shameless as possible. But remember to deliver a good/relevant product in the end.

It was power packed session, indeed. To attend the next two TechSparks Round Tables in Hyderabad and Chennai, click here.

Updated by TechSparks, Pune Outreach Partner, Navin Kabra, Pune Tech

The four panelists – Vijay Shekhar Sharma of one97, Mohit Bhatnagar of Sequoia, Vivek Agarwal of English Edge (Liqvid), and Rita Soni of Nasscom Foundation – could be Page 3 celebrities on any day, as one of the audience member put it. Vijay gave an account of his experience of a techie sales vs professional sales. The professional sales guy closed a deal that was in favor of his startup whereas he as a sales guy lost to the customer’s demands. Mohit Bhatnagar’s wisdom was valuable. In his experience, he found that two-member founder teams were most successful. Vivek said startegy is all about making decisions and finding your niche – what you can do and what you cannot do. Rita Soni drew a connection to the social entrepreneurial opportunities that now have gotten bigger with a slew of funding opportunities.

Vijay said, “if you are facing a lot of hardship, probably you are doing it right.” For one go-to-market strategy, Vivek replied, it is about identifying your niche. He also quoted Steve Jobs in stating just get your product out into the market and then improve it on customer feedback instead of perfecting it at the lab level. Mohit felt that startups should focus on cash flow as cash is king. It is crucial for the survival of the startups. He also added that there is sometimes negative pressure on the investors to invest money on companies. So investors are having a lot of money to invest and it is that the pitch has to be right. Many factors determine success of a pitch – the presentation on that day, the investor’s mindset, etc.

Fielding questions from the audience, the panel members gave answers that were sparking interest and insightful in depth. Answering on sector-specific questions, Vijay wanted the entrepreneur to write to him in detail. Rahul Sharma repeated his earlier philosophy of finding what the customer wants and fulfilling their needs for success at the marketplace. The Q&A session stretched and panel members were available even after the session to interact with the entrepreneurs. As @diademtech put it, it was an afternoon well spent for the entrepreneurs.

There were 10 bloggers who live tweeted the event along with participants and other enthusiasts from other parts of the country. #tsparks was trending for close to three hours nationally. For all the wisdom of the panel, just have a look at the Twitter stream: http://twitter.com/#!/search/%23tsparks

Photo credit: @mgirotra

–Venkatesh Krishnamoorthy, chief evangelist

TechSparks, YourStory flagship event to recognize product technology innovation, is coming to Delhi on 7th May. The event is supported by Sequoia Capital, Google and CNBC TV 18 Young Turks. YourStory presents the TechSparks Twitter Contest: Just tweet with the hashtag #tsparks and the link http://www.techsparks.in and 2 randomly chosen tweets win gift vouchers from Oxford Book Store worth INR 1,000 each which can be redeemed to buy Books, Music, Movies, Games, Gifts from Oxford Bookstores Main Branches or on their website.

Yes, People from any city can participate, we will follow the hashtag #tsparks and will choose 2 random winners on May 5th 5PM IST. The more tweets you post more are your chances of winning. The body of the tweet can be anything related to TechSparks – everything from “check out #tsparks http://www.techsparks.in” to “TechSparks is the hunt for the best Indian product tech startups #tsparks http://www.techsparks.in”.

NOTE: To be eligible the tweet must have the link http://www.techsparks.in and the hashtag #tsparks

Some sample tweets :

The search for the hottest product tech startups in India : #tsparks http://www.techsparks.in

TechSparks coming to #delhi #tsparks http://www.techsparks.in

Google supports TechSparks #tsparks http://www.techsparks.in

Sequoia partners with YourStory for TechSparks #tsparks http://www.techsparks.in

1. Nobody working with Yourstory and its partners shall be eligible to participate
2. Organiser reserves all rights to make change(s) and/ or amendment(s) to the existing Rules, at its sole discretion, without any prior notice.
3. The outcome of the selection and/or the decision made by Yourstory regarding selection shall be final and binding on the Nominee(s) and in no event shall the Nominee(s) dispute the decision made by Your story and/or its employees in connection to the awards and/or otherwise.
4. The Nominee(s) of the awards agree that he/she shall indemnify and keep indemnified and hold harmless Yourstory, its employees, officers, contractors or any other person in relation to any injury/damage/harm/loss suffered by him/her, in any manner whatsoever in connection with the awards and shall also not file in person and/or through any family member and/or any third party applications, criminal and/or civil proceedings in any courts or forum in India against Yourstory to claim any damages and/ or reliefs and/ or otherwise.
5. The terms of these Rules shall be construed in accordance with the laws of India and in case of any dispute or any other matter arising in reference to the awards and/ or otherwise shall be referred to a sole arbitrator to be appointed by Yourstory and shall be governed by the provisions of Arbitration and Conciliation Act, 1996, amended from time to time. The venue for arbitration shall be Mumbai and the same shall be conducted in English language. The costs, charges and expenses in connection to arbitration shall be solely borne by the Nominee(s) disputing the same.
6. TechSparks is the the flagship brand of YourStory and in no way shall it be represented other then what is available on this website

EnglishEdge, is a unique English learning programme; a product committed to serve the learning needs of a global communicator. Foreseeing a shift in learning trends, it follows the unique “Blended Learning” concept, which is a judicious mix of instructor – led and computer – based learning. Coupled with cutting-edge technology and rich multimedia, Blended Learning makes EnglishEdge the most comprehensive English language training programme available in the market.BBC Active, University of Cambridge, Orient Blackswan, Delta & Harper Collins are strategic partners, have made significant contribution to EnglishEdge. It comes as no surprise then, that it has been winning wide-spread recognition for its efficacy.

EnglishEdge has been regularly recognized by various awards from NASSCOM, Deloitte etc. LIQVID’s ranking in the Top 100 Small Business of the Year 2010 has been a recent feather in the cap. EnglishEdge are the preferred offshore vendor for Hewlett Packard(HP), USA and have executed several prestigious projects for organizations like Motorola, IBM, Hughes, American Express, BBC Learning, Harcourt, and Oracle. Some of our valued EnglishEdge customers are Allahabad University, Haryana Agricultural University, CRPF Academy, IIHMR, Indian Military Academy, TechnoIndia, Spice, HCL, Career Launcher, Jetking, Frankfinn, ICA, IIJT, ICOFP, ICFe, NIFA India, VLCC, to name a few.

With a product which is again gaining dominance in the English learning market, Vivek is the expert Panelist at TechSparks 2011 Delhi Round table. Hear Vivek talk about what it takes to startup and scale a tech venture.

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