YS: What are the facilities and services for startups at Sandbox Startups? It’s more about focusing on the business and the work at hand. It is a different way of running the business. Our place is more like an entrepreneur school. They believe in their idea and keep working towards it. They are just not worried about other things. I really believe that India needs the Entrepreneur-in-Residence model.Ī typical saying in Silicon Valley is that startups start in garages. Entrepreneurs-in-Residence as a thought is more empowering it helps entrepreneurs learn from each other and watch each other grow. The EIR programme started in 2008 to help first-time entrepreneurs make their dreams come true. We started this place with the concept of Entrepreneurs-in-Residence (EIR). There have been cases here when even after creating separate spaces for incubatees, they want to be with others because of the vibrancy of the place. When something is not working for them, they join others this creates a new life in the ecosystem. The entrepreneurs here get inspired by each other and work together to achieve something unique. The most important thing is that we have peer entrepreneurs who form the real secret sauce. We would like to have more and more people play the game. We want to facilitate the process of playing the game. We don’t want to be in the process of selecting winners or losers. We are even fine with individuals who have no ideas but are passionate about solving problems and want to explore. NJ: We are sector-agnostic and do not make any judgement on ideas. YS: What are your selection criteria for startups? They are away from all the distractions and clutter. In contrast, the entrepreneurs here can focus and concentrate on their work. I believe that bigger metros are creating noise and clutter that is distracting entrepreneurs. Most startups are misguided by various terms like Right Time, Right Place, and Right Person Hockey-stick curve S-curve and so on.Įven if it happens, you will only come to know about it in hindsight. People are mostly distracted and they are in a hurry to reach somewhere. In a city like Bengaluru, there are too many disturbances and noises. NJ: The entrepreneurial culture here is different from what you see in other bigger cities. YS: How is the entrepreneurial culture at Sandbox different from others? If we can create two or three more examples of “big” success stories, it will help others to think big and achieve more. In addition to mentorship, we need enterprise benchmarking. We need more conviction and belief that a Rs 1,000 crore business can be built we need to think big.
If they reach Rs 5 crore revenue, they are happy and comfortable. The problem with budding entrepreneurs in India is that their vision to scale is limited. This is all about local problems and providing solutions for them. Buses are an integral part of our travel plans, and Redbus was the first to grasp this local opportunity and turn it into a successful venture, which others are following. In the West, they only speak about hotels and flights when they speak about travel plans, whereas in India the scenario is different. RedBus, founded by Phanindra Sama is a prime example of this. We have to look into our challenges with a new perspective and work according to our needs. India is an open economy it’s not like China. India is a young economy and we need to create awareness among youth about startups.Īnother aspect is that we should promote a variety of ideas and not just similar kinds of ideas. People come here with the belief that they can start making money in a month or so, which is not the case. We should create more exposure to the startup ecosystem. NJ: In India, there’s a perceptible buzz around startups. YS: What are the key challenges faced by startups in India and how would you bridge the gap? Your peers who are in the same boat can help you tackle your needs much better. Inspiration is important, but just pure inspirational talks won’t suffice.
0 kommentar(er)
