Building The Largest Online Bus Ticketing Company in India: redBus.in Co-founder and CEO Phanindra Sama (Part 4)

Sramana: After you had talked with bus operators and travel agents, what was your next step?

Phanindra Sama: I thought about the problem and then how to create the solution. On the software side, I knew there would be various different types of people accessing the system and it had to be done by a third party. >>>

Building The Largest Online Bus Ticketing Company in India: redBus.in Co-founder and CEO Phanindra Sama (Part 3)

Sramana: You identified a significant number of problems in bus travel. Which problem did you think was the biggest?

Phanindra Sama: The biggest problem of all was that people could not buy return tickets. Every time I arranged a bus to visit my parents I had to call them and have them book a return ticket so that I knew I could get back. >>>

Building The Largest Online Bus Ticketing Company in India: redBus.in Co-founder and CEO Phanindra Sama (Part 2)

Sramana: What led you to leave a job that you loved at TI to start redBus?

Phanindra Sama: One holiday in 2005 I planned my trip home to see my parents very late because I had been busy with work. I was very accustomed to traveling by bus, and I used to take several buses in order to get home to see my parents. >>>

Building The Largest Online Bus Ticketing Company in India: redBus.in Co-founder and CEO Phanindra Sama (Part 1)

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Phanindra Sama, otherwise known as Phani, is the co-founder and CEO of redBus. redBus is India’s largest bus ticketing company and a Forbes Top 5 Startup in 2010. Phani has a BE in electrical engineering from Birla Institute of Technology and Science. Prior to founding redBus, he worked as a design engineer at ST Microelectronics and as a senior design engineer at Texas Instruments in Bangalore.

Sramana: Phani, let’s start with your personal story.

Phanindra Sama: I was always good with technical studies and was especially good mechanically. I got into BITS Pilani (Birla Institute of Technology and Science), and I studied electronics because I always wanted to be an electronics engineer. I was always fascinated with electrons flowing through a wire and making a light glow or a fan turn. It was fascinating to me. I used to have a tool kit and repair small electronics. >>>

Business Incubators: The Morpheus (Part 7)

By guest authors Praveen Karoshi and Prashant Sachdev

Portfolio Companies’ Experiences

[In this final installment, Prashant talks with three entrepreneurs who have worked with The Morpheus.]

In conversation with Lifemojo founder Namit Nangia

Prashant: When and how did you start with The Morpheus?

Namit: Lifemojo was born about two years ago, and we enrolled with The Morpheus fairly early in their journey.

Prashant: What are the key areas that The Morpheus helped you with and that you were impressed with?

Namit: During the active engagement period, which was around six months, the Morpheus team worked closely with us and imparted critical mentoring, brainstorming product ideas and strategy, practical gyaan (knowledge) sessions, networking with stakeholders and customers, and all-important finance management. >>>

Business Incubators: The Morpheus (Part 6)

By guest authors Praveen Karoshi and Prashant Sachdev

Prashant: If you have to assign a monetary number to the full range of services that incubator provides, how much would it be per company?

Nandini: Less than $100,000.

Prashant: Can you share revenue numbers of companies before and after incubation? >>>

Business Incubators: The Morpheus (Part 5)

By guest authors Praveen Karoshi and Prashant Sachdev

Prashant: Let’s get into the details of the four-month program you mentioned earlier. Once you accept the company for the BAP, what are your next steps?

Nandini: We do not follow a fixed curriculum. The engagement is customized and specific to each company. We spend an average of ten to fifteen hours a week to help the startup achieve its milestones. These milestones are based on the business requirement as defined by the founding team and The Morpheus team at the start of the engagement. A startup has to work on only two things – build and sell, and we help startups achieve this. Also related is the fact that the company should start making revenues as fast as it can and we help achieve it. >>>

Business Incubators: The Morpheus (Part 4)

By guest authors Praveen Karoshi and Prashant Sachdev

Prashant: Out of all pitches you receive, how many deserve a closer look?

Nandini: We go through all of them, and based on past data, I can say that we have an initial interaction with at least 50% of them. Sometimes, it will be a great founder but a wrong idea – that can be changed.

Prashant: Do you hold regular meetings where selected entrepreneurs have a chance to present? If so, how often? >>>