Sramana Mitra: What are the open problems where you would encourage new entrepreneurs to start companies?
Feyzi Fatehi: One question I ask people is, in your opinion, how many open source applications are legitimate and are legitimately accepted by the Fortune 1,000? How many open source solutions are now used in the Fortune 1,000 that are out there?
Sramana Mitra: Probably 10,000.
Feyzi Fatehi: I don’t know the answer. The answer would have been 200. I did some research. There are about 1,500. These are the ones that have commercial support behind them. Do you know how many of the 1,500 are SaaS?
Sramana Mitra: No.
Feyzi Fatehi: There are about a dozen to two dozen. The question is, if it’s easy to turn a software into SaaS – and these are open source solutions – why not turn it into SaaS and go to market and sell your SaaS company for millions of dollars?
We’ve asked that question to a lot of entrepreneurs. The answer is because it’s really difficult to transform a software into SaaS like Salesforce.com. People want to make money. As opposed to raising money and building your product design, development, and QA, just take an existing solution that is not SaaS and make SaaS.
With the invention of Corent, this problem is fixed. Any entrepreneurial person who likes a specific area, we’ll transform it within a day or two. Take one and either run with it as generic open source or customize it for a specific industry or region. All of a sudden, we’ll make you a CEO of a SaaS company within a matter of few weeks.
Sramana Mitra: You’re selling me on your value proposition. I asked you a question about open problems in the industry.
Feyzi Fatehi: We just started a new initiative called open SaaS initiative. That’s brand new. We haven’t shared the details with a lot of people. The proposition is a lot of people are struggling to get funding for their companies. CEOs are struggling to find the right CTOs.
We eliminate all the pain and agony for people who have an entrepreneurial mind and for people who want to become entrepreneurs in the SaaS industry. We eliminate all that and we just hand you a fully proven SaaS solution. All you have to do is market and sell it in the market.
Sramana Mitra: People are not getting funding not because they can’t build software; it’s because they can’t get customers and can’t achieve product-market fit. My question is what is an open problem in your industry?
Feyzi Fatehi: You said it’s hard to get customers. Customers are already there using the open source solution. They’re in pain. They’re waiting for someone to offer SaaS to them. All they have to do is announce that they have a SaaS solution to convert thousands of users of the open source solutions. We are offering it for free to entrepreneurs.