Covid-19 — Unsettling Times, What Next in Startup World — TIE session
On 28th March 2020, The Indus Entrepreneurs (TIE) Mumbai organized a panel discussion with the heads of Chiratae Ventures, Inventus Capital, Jungle Ventures & Nexus Venture Partners moderated by Sanjay Mehta of 100x VC. I am sharing my notes from the very insightful meeting that contained great lessons for all entrepreneurs not just startups.
What happened ? This is a huge macro systemic shock. A multi-axis, long term global downturn. Certain business model changes are permanent. Certain sectors like transportation are hit very hard. The flight of capital to safe harbor has accelerated. Trillions of Dollars of market value has been lost. Every business is in a churn. New investments will pause for a few months though a few major investors and private equity players will open new credit lines. However, there is enough dry powder capital available.
Here is some wide-ranging advice offered in tidbit size under some broad categories:
Survival : Stay in the game. Move from a growth plan to a survival one. Take thoughtful decisions. Do a quick stress test for your business — now is the time to dispassionately focus on fundamentals. Triage your actionable strategies. You may need to pivot much faster. Roll up your sleeves. Help your customers.
