Enterpreneurs have great biz ideas, but can’t find mentors
For many people who have a great idea but don't have the aggressive attitude required to attract the attention of possible mentors, the startup dream does not take off.
Published: 06th September 2018 02:57 AM | Last Updated: 06th September 2018 03:48 AM | A+A A-
BENGALURU:The city, often listed as one of the startup capitals of the world, sees game-changing business ideas die a slow death on a regular basis as most entrepreneurs do not know where they can find mentors to nurture their initial steps or forums where they can network with other entrepreneurs, a new survey has shown.
According to Samsung, a survey conducted across 1,600 respondents showed that atleast 81% of the entrepreneurs said they had at least one 'game changer' idea or invention which could transform India's work methods; but, at least one out of three respondents also said they did not know a place in the city where they can find mentors.
For many people who have a great idea but don't have the aggressive attitude required to attract the attention of possible mentors, the startup dream does not take off.
The New Indian Express spoke to a few startup founders to understand the ecosystem and how tough it is for new startups to grow. Ashfaq Ahmed, Founder FellowApp, a HR tech startup said, “First-time entrepreneurs start building things without much guidance or being unaware of the startup ecosystem. This is where there is a gap between guides /mentors and budding entrepreneurs. Another reason is not doing proper market research to understand the user personas before working on a solution.”Others say the trick is to get the right team together even before you dream of approaching venture capitalists, angel investors or mentors.
According to Vinayak Thakur, Co-founder, Brownpacket, an online medicine delivery startup, “The first hindrance to getting the ideas into shape is to get the right team to brainstorm about the problem and its solutions. Facing the market challenges like competition, increase in costs are other issues. Generation of revenue after a predicted time is also a concern. Also keeping the team motivated and performing continuous improvement to the product and operations is a key area of concern.”
1,600 respondents showed that at least 81% of the entrepreneurs said they had at least one ‘game changer’ idea or invention which could transform India’s work methods
