The Great Indian Startup — Wisdom Traps
Patriotic Trap — We really would like to back the entrepreneur solving the problems unique to India. Err……it is not about the problems faced by 60–70% of Indian rural agriculture economy. Had that been the case we would have funded “Desta Global” like companies and not all those fashion shopping sites. Do you know how convenient it was to order the PET food during our stay in US?!!!! Also be aware, there are hardly any entrepreneurs in India who have been successful in solving the true Indian problems. They are called NGOs
Innovation Trap — We really would like to back entrepreneur creating innovative technologies. Err……Sorry we are not talking about you building quantum computers or products for cancer cure. Do you know that we could order a Taxi Ride on Mobile phone? Have you ever heard —” Imitation is the sincerest form of flattery”. We truly believe in that. After all, incremental innovation entails the lowest risk.
Technology Trap — We back entrepreneurs creating technological solutions. Shh... we do not mean creating a true technology product. Could you use excel sheet and ensure Pizza delivery or manage large number of people on the ground? There you go!
Team Trap — We back entrepreneurs with unique insights gained through experience. Err…who said that education is necessary for doing business? Though we back only IIT/IIM grads it should not really matter. Are you young enough to take that Pizza to a customer? You would really learn about customer service.