1M/1M Kicks Off Partnership With TiE Chennai

Menlo Park, CA – April 14, 2011: The One Million by One Million (1M/1M) initiative is announcing a partnership with TiE Chennai that developed out of Sramana Mitra’s presentation during TiE Chennai’s Startup Super Day on April 9, 2011. The goal of the 1M/1M movement, inspired by Sramana Mitra’s vision to democratize capitalism, is to help a million entrepreneurs each reach $1 million in revenue and beyond by 2020. TiE Chennai is the local chapter of The Indus Entrepreneurs (TiE), whose mission is to foster entrepreneurship globally through mentoring, networking, and education.

Together 1M/1M and TiE Chennai can provide wider resources and deeper support to the entrepreneurial ecosystem in Chennai. TiE Chennai will now be the premier partner of 1M/1M in India, both online and offline. TiE Chennai will also now offer a special discount to its members for the 1M/1M premium program. This program offers entrepreneurs on-demand educational, business development and incubation resources and strategy discussions with Mitra for an annual membership fee of $1,000. TiE Chennai members will receive a 25% discount on membership until June 16, 2011, and a 15% discount thereafter. 1M/1M is headquartered in Silicon Valley and offers its members a strong channel into the Valley, as well as a crisp encapsulation of the Valley’s methodology.
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A 1M/1M Ambassador’s Journey

Venkatesh Krishnamoorthy shares on his blog how he became part of a global network of entrepreneurs leading up to Sramana Mitra’s recent visit to Chennai, India, here.

YourStory.in Shares Highlights Of Sramana Mitra’s TiE Chennai Event

On Saturday, April 9, 2011, Sramana Mitra delivered the keynote address and held an in-person roundtable for entrepreneurs at TiE Chennai’s Startup Super Day. YourStory.in shares the highlights of the day here.

Sramana will be participating in similar 1M/1M events in India this weekend. You can learn more about the event in Mumbai on Saturday, April 16, here, and the event in Pune on Sunday, April 17, here.

1Mby1M Deal Radar 2011: VirtuOz, Emeryville, California, And Paris, France

The February 2011 victory of IBM’s Watson, a “question-answer computer,” over two human competitors in the popular trivia game show “Jeopardy” was a milestone in artificial intelligence that caught the attention of scientists and the general public alike. Today’s Deal Radar company, VirtuOz, points to Watson’s humanlike reasoning capabilities as a testament to the viability of natural language processing (NLP) for commercial applications. VirtuOz provides intelligent virtual agents (IVAs) for customer service and sales to large and mid-market enterprises. The agents are designed to be an online channel for improved access to customer service and a high-quality user experience that avoid the high costs associated with traditional customer service channels such as search and human agents. >>>

1M/1M Announces Partnership With MAD Incubator, Malaysia

Menlo Park, CA – April 6, 2011: The One Million by One Million (1M/1M) initiative and MAD Incubator are announcing a partnership to help foster innovation and entrepreneurship in Malaysia. The goal of the 1M/1M initiative, set up by Sramana Mitra, is to help a million entrepreneurs each reach $1 million in revenue and beyond. MAD Incubator works with community and government stakeholders to accelerate technopreneurship development and innovation in Malaysia by helping entrepreneurs build sustainable technology businesses.

With a shared vision, 1M/1M and MAD Incubator can provide wider resources and deeper support to the entrepreneurial ecosystem in Malaysia. MAD Incubator will now be the premiere partner of 1M/1M for incubators in Malaysia, both online and offline. MAD Incubator will now be an official reseller partner of the 1M/1M premium program, which offers entrepreneurs on-demand educational, business development and incubation resources and strategy consulting with Mitra for an annual membership fee of $1000. 1M/1M is headquartered in Silicon Valley and offers its members a strong channel into the Valley, as well as a crisp encapsulation of the Valley’s methodology.
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Seed Capital From Angel Investors: AngelList Founder Naval Ravikant (Part 9)

Sramana Mitra: These are interesting analogies, using the different schools. You know, even at these schools, the rejection numbers are very high.

Naval Ravikant: They have to be.

SM: Of 500 deals, maybe five or 10 get accepted.

NR: Yes, I heard Y Combinator had 3,000 applications.

SM: If you look at the Google search for the term Y Combinator, every month 33,000 people are searching for it.

NR: It is definitely a hit. >>>

Seed Capital From Angel Investors: AngelList Founder Naval Ravikant (Part 8)

Naval Ravikant: The combination of inexperienced investors with first-time entrepreneurs is not good. I am going to show you something else just to get my point across very clearly. Let me show you how many investors have applied to get in who haven’t even been processed. So, you see this page [on your computer], right?

Sramana Mitra: Yes.

NR: There are about 20 to 30 people on this page. There are 57 of these pages. >>>

1M/1M: How We Will Interface With AngelList

In our recently concluded interview series with AngelList cofounder Naval Ravikant, we discussed how AngelList and 1M/1M will be interfacing. Below, I am synthesizing the discussion.

AngelList gets more than 7,000 deals a year at this point, and this is sure to increase over time. According to Naval, more than 95% of these deals are not ready for funding. At 1M/1M, we focus on very early stage entrepreneurs, and whether you want to apply to AngelList or to an incubator like Y Combinator, TechStars, or DreamIt, we focus on getting you to the point where your chances of success are significantly higher.

So, let’s review what AngelList is looking for.

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