Connecting entrepreneurs to investors: EFactor's Nitesh Chandra

EFactor, the professional networking  site for the entrepreneurial  community, provides resources that every  small business owner  needs: funding, knowledge, gain revenue and  save  cost.

EFactor organized  its  first offline event in India on importance  of  funding  for  investors on 5th of May 2012 in Bandra, Mumbai. Every business idea and promising start-up needs funding to take it to the next level. And to understand funding more clearly, EFactor created an opportunity for people to learn, directly from angel investors and successful entrepreneurs what is needed to receive funding for start-up. The panel consisted of three speakers - Mr. Bhavish Aggarwal, Co Founder and CEO, OLA cabs, Mr. Naveen Honagudi, Associate, Kae Capital and Apoorv Ranjan Sharma, Executive Vice President, Venture Nursery along with the moderator Mr. Kris Nair, a Serial Entrepreneur, Angel Investor and a Venture Capitalist.

 

The  event commenced  with Bhavish  Aggarwal  Cofounder and CEO OlaCabs ;talking about the basics  of  funding. He also shared  his  personal experience in raising  funds  when he was starting up his own business. Bhavish  said “Funding  is  like  marriage in which you  have to decide who, when and how ,only that you  do  not have an option of divorce.”He  further elaborated how we can meet investors  through  start-up  events, references  and  even through  college networks ; as he did." He explained that the basic principle is to sell  yourself to the investor.He also elaborated on how OLA  has  changed the way urban India travels.They  do  quality  checks, provide inhouse  training for  trips which enriches the whole travelling experience for  consumers.

 

Later, Navin Honagudi,  from  Kae Capital   spoke  about the  importance  of  funding. Capital is required to fast-track  a company. He explained how the  first  two and  half year period is crucial and how all the  investment  has  to be made or exhausted within that period. He presented  a venture capitalist point of view to the  whole  funding  process  and  explained what VCs  look out  for in young entrepreneurs.

 

He  also  provided  tips  like; set your milestone for the next nine month period, have fractions for your  product ,as an entrepreneur stretch as long as you can forr aising funds.

 

He  also  gave insights  into  the investment  industry by pointing out the differences between the companies  in  the United States  and  those in India. He  added that Indian companies are more suited  to mass consumer needs.

 

Apoorv Sharma, Executive Vice President, Venture said that are a lot of angel networks  in India and emphasized  that the entrepreneur’s main focus  should be on facilitating or building value for the company.

 

Speaking about the whole  idea of the event, Nitesh Chandra, Country Manager, EFactor said, "One of the key objectives of EFactor is to provide a platform for entrepreneurs and businesses to connect with relevant/ interested investors and partners to help them succeed. At the same time, the process by which start ups reach a stage where they become interesting to invest in needs to be demystified as it helps the entire entrepreneurial chain. The whole idea was to simplify  the whole funding  process  and help entrepreneurs  achieve insight into the same and going   by  the  feedback the event received we would be glad  to  organize  more  events  like  these  in  the  near  future.”

 

What followed was an interactive panel discussion  with these experts who have carved  a niche  for themselves  in  their own sectors. There was  a question  and  answer  session  in which young  entrepreneurs asked  queries concerning  them  about investment  and  funding. Kris Nair, Serial Entrepreneur served as a moderator as he helped the entrepreneurs seek appropriate redressal of their queries and also provided information  useful  to  them.

 

The  event saw participation of enthusiastic entrepreneurs eager to understand  the nuances of funding along with other angel investors and venture capitalists.