By guest author Irina Patterson Look around your incubator. Can you identify 10 promising entrepreneurs? Could you use 1M/1M to accelerate them? They will start with the 1M/1M curriculum. Get help with their positioning. They will be guided through customer validation and customer acquisition, get media exposure, and gain access to Silicon Valley decision makers.
By guest authors Irina Patterson and Vandana Upadhyay Irina: You invest not only in technology companies but in companies in other sectors, right? Pravin: Yes. India has many opportunities and challenges; technology adoption is not the best here. There are enough opportunities in different business models on how to do things better and more efficiently.
By guest authors Irina Patterson and Vandana Upadhyay Irina: How many people do you have working in your incubator now? Pravin: We have four outside advisors who work once a month or once a week, with these companies depending on the requirements. We have somebody who understands retail, somebody who understands the Internet, or somebody
By guest authors Irina Patterson and Vandana Upadhyay Irina: How do you find your current deals? Pravin: We have been in the game since 1990. Individually, we are quite well known in the early-stage business. Because we have been around, we have a very good network with investment bankers, and we are very active in
By guest authors Irina Patterson and Vandana Upadhyay Pravin: So, we went with an idea of a $50 million fund. It turned out to be quite easy to raise and within six months we were all ready to go. We had interest from variety of funds. We could have raised more money but we didn’t
By guest authors Irina Patterson and Vandana Upadhyay I am talking to Pravin Gandhi, a founding partner at Seedfund, which is one of the India’s leading early-stage venture capital funds, with operations in Mumbai, Bangalore and New Delhi. Seedfund was founded in 2006 by Bharati Jacob, Mahesh Murthy, and Pravin Gandhi. In 2010, they raised
By guest authors Irina Patterson and Candice Arnold Irina: Where do your revenues come from? Bruce: First of all, we get grants from the university and other folks. We also charge fees to our clients. It’s on a sliding scale. In our first phase, startups pay a modest fee. It increases in Mentored Launch, and then
By guest authors Irina Patterson and Candice Arnold Bruce: Medipacs [one of the incubator’s success stories] is a very low cost, highly reliable infusion pump. The inventor is a man named Mark Banister. Medipacs pumps could be produced at a fraction of the cost of the current pumps available on the market. The pumps could