How can inventors find entrepreneurs to merge talents and finance new projects

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How can inventors find entrepreneurs to merge talents and finance new projects
21 Aug 2021
7 min read

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The Indian start-up scenario has turned vibrant in recent years with total venture investment reaching from 2005 to 2010 being touted to be around INR 1,11,700 crore.#ThinkWithNiche.

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The 8th Annual Report on Indian Risk Capital and Personal Equity on startups stated that the average yearly rate of increase in the investment flow during the phase had been on the brink of 42 per cent while quite 10,000 start-ups had received funding.

But the image isn't that rosy as far as funding cares. the typical annual rise in the number of funded start-ups within the last decade in India has been 16 per cent, a figure far away from being satisfactory.

The percentage of worldwide start-ups that are ready to effectively raise capital in healthcare, grocery, smart home, and residential improvement are 41, 52, and 36 per cent respectively. The corresponding figures in India are dismal at 5, 10, and 11 per cent respectively.

Why is it that only a couple of entrepreneurs get funded? Is it that only those few business ideas are ok to succeed?

For a logical explanation to the present deadlock, Entrepreneur India came in touch with Raghav Kanoria, founder and partner at Neo leap Business Ventures LLP, and cofounder at Calcutta Angels Network.

Being a lively member of the Angel and Investment Community within the country, Kanoria shared his insights on finding means to deal with these issues that would also significantly improve the exchange of viable, creative ideas within the country and have a dramatic impact on our economy.

“Venture capitalists and angel investors are flooded with pitches and hardly have time to satisfy everyone. Besides, first-time entrepreneurs also got to explore opportunities with around 50 funding agencies before closing on one. As an entrepreneur, it's important to spot a variety of agents, who could take interest in your idea. the brilliant side is, today a number of resources exist to help you discover the simplest investors,” Kanoria acknowledged.

According to him the foremost important job for start-ups and investors is to seek out the proper ‘match’. “Ideally an individual with domain expertise within the sector should be the lead investor. However, investors will always look for entrepreneurs who show readiness to spend their money and have 'skin within the game',” Kanoria added, recommending some useful tips for fixing meetings with the proper people.

Association With Accelerators

"Accelerators can assist you to find mentors and with the assistance of their network, they're going to connect you to the right investors. Tons of accelerators curate start-ups then pitch for them to relevant investors in their angel group," he said.

Through E-cells Of Universities

At the initial stage, e-cells of schools and other educational institutions provide support to students to find the right investors through their alumni. E-cells of schools are connected to the relevant alumni base. for instance, IIM -Calcutta has a lively Alumni Outreach Program for an equivalent.

Through Conferences/Hackathons

Angel networks, company-run conferences, business competitions, and hackathons are often arranged where investors are called in, he said and added that a starter can search for opportunities or hear about them only by participating in such events. Such occasion’s function gateway to potential investors and also help in future networking. “If not funding, your idea is going to be heard and may receive suggestions for way forward in getting funds,” he opined.

Through Chambers of Commerce

It is an honest start to be registered with chambers of commerce and make use of their platform to seek out investors. Chambers of Commerce like FICCI, CII, ASSOCHAM, NASSCOM, etc. hold tons of events, seminars, and symposiums where start-ups can meet potential investors.