NASSCOM encourages initiatives like PROTO on entrepruneur space !

Yesterday I was at Delhi participating and presenting PROTO at the NASSCOM workshop on Startups chaired by Prat Amoghe and Anal Jain. It was a very closed group of 40 members from different companies (basically startups) who were there to understand the process of how to take a startup right from the founders idea to angel/ seed funding, Series A investment and then Series B Investment. According tothe regional director of NASSCOM, which has started this sort of initiative to groom startups at a macro level the results at bangalore and Pune have been very positive for entrepreneurial growth. In PUNE PROTO was again represented by Rajesh on a bid to create same awareness for the event.

The Objective of PROTO to attend this event was basically multi pronged in these directions

  • To garner adequate visibility for the event among the startups and to create an awareness among the companies in and around Delhi and NCR about the opportunities on PROTO.

  • To set positive tone on PROTO and to effect support and endorsement of NASSCOM for the event.

  • Possibly to evangelise PROTO among the VC’s community attending the workshop and garner participation

Some of the startup companies that have evinced interest in participating at The SE were Labnetworx, Virtual wire, Tyroo, Zoomtra, Circuit Sutra . Interestingly there was only two firms from the VC side IDG Ventures represented by Hemir Doshi and TIE Delhi represented by their Associate director Digbijoy Shukla.

We met the regional director of NASSCOM Ms. Sucharitra Eashwar, Mr. Avinash Raghava , Senior Manager of NASSCOM Delhi and Naveen from NASSCOM who had invited PROTO to this workshop in the first place. The good news is that from my interaction with the regional director, she is all excited to support event like PROTO that is in the tone of promoting a very positive environment for Entreprunuership in India. My recommendations would be that we need to take this further by inviting a more active prescence of NASSCOM on the event which will help in strengthening the relationship further.

Prat Amoghe’s workshop on what are the essentials that need to be incorporated on a business plan was very extensive and detailed. Workshops that provide such hands on approach to startup companies will provide a lot of leverage to companies to position their value proposition in a much better light with the venture capitalist. His emphasis was that startups typically need to cover the following points in all its completeness for a impressive proposition

• Company & Mission
• Team and advisors
• Market
• Market Opportunity
• Company product offering
• Product details
• Competitive analysis and differentiator
• Customer prospect validation – quotes
• Go to market plan
• Company status and milestones
• Financing objectives – use of proceeds , team growth plans
• Financial projections

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