TechSparks Winning Formula for Startups FINAL
Tech Sparks 2015: The Winning Formula for Startups
Rated as India’s premier startup conference and showcase, TechSparks15 kicks off in Bangalore this week in a much larger avatar than its last version. And the very first day excitement is a simple indication of why the world is looking at this platform for some groundbreaking tech sparks.
Here is the “Winning Formula for Startups” from the India’s Best Hackathon Battleground
Great Product+ Strong Character of Founders + Inspiring Work Culture
All the industry mentors & investors stressed the importance of founding team’s determination & passion along with the work culture as the strong pillars along with a great product to build a long lasting company.
Here are some of the best insights on
What Investors Want: 3 key ingredients
You cannot fake it; you have to be really passionate about your product and the journey of building a company or else don’t even expect any serious chance of investment. Shailendra from Sequoia India explained this perfectly “Investors sense the potential of startup through the entrepreneur passion”
- Ability to sell to customer & not to investors
One of take away was the fact that the founding team needs to build some customer traction and actual sales transactions before they get started to approach investor.
But never try to do “selling” with Investors, they are there to be get impressed by your storytelling & not the hard sell pitch. And once again the Sequoia guys were bang on to summarize this “We dig authenticity in entrepreneurs. We don’t want to feel that we are being sold to”.
- Building Work Culture is as important as building a product
Yes you heard it right; Culture plays a pivot role in turning your workplace into a serious professional company and is rated very high for any chance of a startup success. That was a message very clear from industry veterans to all startups.
In fact Srikanth Karnakota from Microsoft India rated this is top requisite “Single most important thing is culture”
Flipkart’s Niket Desai sums up the same “No matter what happens, build a strong team, build friendships”
Hope all you daydreamers would find some inspiration from this piece.
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