Cyber Journal 24, December 09, 2015
As pointed out by Harvard Business School’s Professor Gautam Ahuja, companies invent “idea” before inventing successful products or services based on that idea.
But, this idea would convert into successful service or product only if the entrepreneur behind the same gets appropriate funding, mentoring, and guidance. This is what 111 Startups helps tech entrepreneurs to deal with.
To put it in simple words, if you have a great idea and wish to develop the same, you can connect 111 Startups for guidance, mentoring, funding, and even co-working space. The community aims to empower 111 start-ups in next five years.
In order to know more about the initiative, Nitten Gokhaley recently interacted with Vikrant Bhujbalrao, the Chief Evangelist from the team 111 Startups. Here are some extracts from their interaction.
What is 111 Startups’ aim?
Poor business planning, lack of funding, and too much competition are some of the threats faced by start-ups.
111 Startups aims to bring change in society by inspiring innovations and great ideas that can not only impact the society, but (change) the whole world.
Can you share more details about your team please?
Our team consists of investors, successful entrepreneurs, and technocrats who are willing to contribute in startup ecosystem.
Sunil Peswani (Executive Chairman of Pesh Group), Nitin Lahoti (Co-Founder and Director at Mobisoft Infotech), Vikrant Bhujbalrao (Chief Evangelist; Success Connector, Life Coach and Motivator) Ravi Waghmare (Co-founder and COO at Mobisoft Infotech), Rashmi Peswani (Technical Director at Pesh Group), Pritam Barhate (Head Technology Innovation at Mobisoft Infotech), Ritesh Patil (Co-Founder of Mobisoft Infotech, and the Director of Delivery) are some of the key people.
From right- Vikrant Bhujbalrao, Sunil Peswani, Nitin Lahoti, and Ravi Waghmare
(Team 111 Startups)
Government is expected to release its framework for start-ups this month. What are your expectations from the same?
Government is doing its job well. It’s time for us to do our job to the best. Expectations kill surprises. Let Govt surprise the whole startup community at large, and I am sure they will.
Government also aims to mentor start-ups and create links between mentors and universities, educational institutions in the country. Do you think that the existing bureaucracy and Government machinery is capable, educated enough to perform these tasks for creating start-up friendly environment?
Yes. Govt has the intellectual force, resources and more importantly ‘will’ to create start-ups friendly environment.
It is obvious that people would start approaching your community with their ideas. Do you have any action plan as far as selecting projects is concerned? Do you plan to look at various projects from their ROI prospective?
We have our action plan in place. Our core purpose is to help startups by anything and everything. We believe, it always starts with ‘Giving’ first! Our intent is to ‘Give First’ in empowering start-ups. When we support start-ups, our real ROI is in the satisfaction we get in helping the entrepreneurs (the world changers).
Apart from your core activities, are you guys also into any other voluntary initiatives for helping start-ups to promote their ideas and help them to reach more people?
Yes. We have an e-magazine called ‘Spark’. It features inspiring and interesting stories about start-ups from Pune. Entrepreneurs get the opportunity to promote their start-ups for free, and they can also share their success stories, highlight issues that they face in their business, and give suggestions to other young entrepreneurs.
How are you different from other communities that offer similar help?
Reports suggest that around 90 percent of start-ups in India cannot even manage to survive for three years. We believe that an “idea” has the power to change the world provided if it is implemented at right time, by passionate team, with thorough planning, validation and evaluation. Also, it requires good support system of investors and mentors to scale-up.
We empower startups through guidance, mentoring, funding and co-working. We, help to launch the MVP before launching the product. This keeps us one step ahead of others.
Are you willing to welcome investors, mentors from outside your community who wish to be part of your community?
Yes. We are absolutely in process to build this community to its infinity and invite interested mentors and investors who wish to support startups
Interested startups, mentors, and investors can connect with 111 startups at www.111startups.com. Or email us: firstname.lastname@example.org
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