Roundtable Recap: March 31 – Microsoft’s $100,000 India Startup Challenge Grant

At this week’s One Million by One Million roundtable, we announced our collaboration with Microsoft around a $100,000 grant that they are offering to four Indian entrepreneurs as follows: A $40,000 grant each to two entrepreneurs, one in mobility and one in cloud computing; and a $10,000 grant to two entrepreneurs, also one in each of those two categories.

1M/1M will be working with Microsoft in helping entrepreneurs prepare for these grants. I will be traveling in India in April, and doing live roundtables in three cities: Chennai (April 9), Mumbai (April 16), and Pune (April 17). Girish Joshi from Microsoft will be attending the roundtables, and scouting companies for the grants with me. I will be reporting back on the companies we see on this column from the road.

At today’s session, first up, Ramkumar RS from Chennai, India, presented Mango DVM, an innovative solution to turn vendors of illegal, grey market music to legal distributors using a combination of mobile apps and media server technology. Ramkumar has made certain pricing model and delivery model assumptions that are yet to be validated. We brainstormed about the risks of those assumptions. However, only the market can tell to what extent those assumptions will hold true.

Next Jigar Doshi, also from Chennai, India, pitched 3gSimplified, in effect, a comparative shopping solution for mobile plans, which are apparently quite complex in the Indian market. As for business model, Jigar wants to sell services like refilling cards.

3gSimplified is a very early concept that has just launched, and the market feedback will be rolling in over the next few months. Our discussion today was around prioritization of the next few critical steps around customer acquisition and validation.

Then Balaganesh S., from Chennai, India, as well, discussed Report Bee, a data visualization solution for schools around report cards and student performance. Report Bee has two paying customers, and we discussed segmentation issues around where to focus for the early market penetration strategy. Clearly, affluent schools that can afford to buy technology, and also parents who have access to computers would be the best early adopters.

Janardhan Swahar from Salem, India, presented Swayam Foods, a health food company that is focused on the Indian palette across snacks, quick-to-prepare items, etc. The company has distribution through about 50 retailers in Chennai, and is looking for ways to market their product through online channels. We discussed guerilla PR, product reviews through blogs, as well as SEO, blogs, and social media marketing.

Last up, Rahul Mishra from Bangalore, India, pitched Promedik, a “decision support system” for physicians. I wasn’t convinced about the assumptions of the business – there are too many gaps and flawed assumptions around the source and the cost of the data upon which the product is built. I advised Rahul to study Epocrates as a model. I believe, trying to offer a reference manual may be better than trying to offer a decision support system, which is a much more complex value proposition that requires expert systems to implement.

Before I end, let me also point you to an interview we’re running on my blog with Naval Ravikant, founder of AngelList, which you may find enlightening.

Also, some of you have asked me questions about the 1M/1M Premium Curriculum, which I have addressed on the blog.

Next week, the 1M/1M roundtable will focus on entrepreneurs in East Asia, Australia and New Zealand. You can register for the next roundtable here.

You can also listen to the recording of today’s roundtable here and select the business you like best through a poll on the 1M/1M Facebook page. Recordings of previous roundtables are all available here.

 

This segment is a part in the series : Roundtable Recap
. March 25 – A Mixed Bag Of Advice . April 1 – Bootstrapping Tips . April 8 – A Focus On E-Commerce . April 15 – Small Is OK; The Goal Is Profitability . April 22 – The Original Runners . April 29 – Finding The Right Direction . May 6 – Defining Value Proposition . May 20 – Validation, Validation, Validation . May 27 – Is The Venture Worth Your Time? . June 3 – Defining Market Segments . June 10 – Efficient Targeting . June 17 – Online Education Startups . June 24 – Three Startups That Can Hit One Million Dollars . July 1 - Get Your Pricing Model Validated . July 8 - The EJ Methodology . July 15 - A Market Of Late Adopters . July 22 - Bootstrap Using Services . July 29 - Startups In Malaysia . August 5 - Paying Customers =>Validation =>Valuation . August 19 - Niche E-Commerce Is Great For Bootstrapping . August 26 - 85%-90% Of Search Traffic Comes From Organic Search . September 2 - Find High Velocity Channels . September 9 - Open Opportunities In Cloud Computing And Rural BPO . September 16 – 5 Cloud Computing Opportunities for Entrepreneurs . September 23 - Do Not Spray And Pray . September 30 - Investors Don't Fund Broad Ideas . October 7 - Try To Get At Least $2M Pre-Money In Seed Round Valuation . October 14 - Professional Investors Do Not Invest In $20 Million Markets . October 21 - Bootstrapping Comes In Many Flavors . October 28 – Convert Potential Competitors To Partners . November 4 - Premium Lounge Sneak Preview . November 11 - African Tech Entrepreneurs Emerging . November 18 - Not Coming To The Rescue Of Victory . December 2 - Niche Marketplace Businesses Can Be Interesting . December 9 - Where Should You Raise Money? . December 16 - Top 10 Tech Trends To Watch . January 6 - Top 10 Vertical and Social Web Trends For The Decade . January 13 - Top 10 Online Advertising Trends For The Decade . January 20 - Personalization Remains An Open Problem . January 27 - Non-Dilutive Financing Through Revenue Sharing . February 3 - Indian Entrepreneurs Are Maturing . February 10 - When Keywords Are Competitive . February 17 - Indian Company Plugs Gap In Google’s Enterprise Solution . February 24 - VCs, Angels, Incubators, Accelerators – What Are You Doing With Your Rejects? . March 3 - Spotlight On The Northwest . March 10 - Spotlight On India . March 17 - Spotlight On Latin And Central America . March 24 - 75th Session Spotlights The Midwest . March 31 - Microsoft’s $100,000 India Startup Challenge Grant . April 6 - 1M/1M Announces Important Partnership With MAD Incubator, Malaysia . April 9 - 1M/1M Announces Partnership With TiE Chennai . April 16 - 1M/1M Partners With Indian Angel Network Incubator . April 17 - High-Octane Energy In Pune . April 21- Incubators Are Reaching Out To 1M/1M . April 28 - Guerrilla P.R. & SEO Most Profitable Customer Acquisition Strategies . May 5 - Ownership Matters . May 12 - Two Really Cool Companies . May 19, Making Money From Blogs . May 26 - Twitter, LinkedIn - Why Not Affiliates? . June 2 - 1M/1M And Incubators - What We Have Learned . June 9 - Silicon Valley . June 16 - Exciting Companies Lined Up For Microsoft Startup Grant Finals . June 23 - New Assessment Tool For Entrepreneurs . June 30 - Continued International Participation . July 21 - Crowd Sourced Funding Exchanges - An Emerging Trend . July 28 - Investors And Incubators Need To Look At Pre-Incubation . August 4 - How Do You Bootstrap Freemium Ventures? . August 11 - Menlo Park And The Silicon Valley Renaissance . August 25 - How To Use Twitter For Lead Generation . September 1 - Fall Call To Action . September 8 - A View Into Israeli Start-ups . September 15 - Do Your Homework First . September 22 - How Do You Catalyze A Region’s Entrepreneurship? . September 29 - From Poland To Argentina . October 6 - Dedicated To Steve Jobs, Reinforcing Mission To Restructure Capitalism . October 13 - FREE Is Not A Business Model . October 20 - Non-profits And For-profits . October 27 - Check Out Stanzr . November 3 - VCs Are Not Always Right . November 17 - Business Schools And Early Stage Entrepreneurship . December 1 - 1M/1M Premium Company Freshdesk Wins Funding From Accel Partners . December 8 - Three Open Opportunities For 2012 . December 15 - Web 3.0 And Social Dancing; Romania Emerging . December 22 - Free Apps, Ad-Supported Business Models => Dangerous! . January 5 - ERP Galore . January 12-13 - Spotlight On IIT Kharagpur, India . January 19 - Are Media Sites Fundable? . January 26th - Spotlight On Jacksonville, Florida . February 2 - YCombinator vs. 1M/1M . February 9 - Are You Fundable? . February 16 - What’s Happening In Turkey? . February 23 - Microsoft Israel To Offer 1M/1M Scholarships . March 1 - Strategy Gaps Need To Be Plugged . March 12 - Winners Of Microsoft Israel Scholarships . March 15 - Spotlight On 3 Day Startup Tel-Aviv . April 3 - Rendezvous In Bangalore . April 12 - More From Indian Entrepreneurs . April 19 - Tyranny Of The TAM . April 26 - A Rare Women-Only Session . May 3 - Some Wonderful Opportunities With Corporate Partners . May 10 - BlueSnap-Elance Contest Applications Deadline This Weekend . May 22 - Winners Of TechHub-A&N Media Battle Of The Startups Contest In London Win 1M/1M Scholarships