Tuesday, December 14, 2010

Ideas @ IIT Mumbai Eureka 2010

Wow!! Young Indian r bubbling with Gr8 Ideas. Exciting FUTURE

What I learned ; 

1) About site www.foursquare.com
2) How Japanese Magnetic Rail Works?
3) Robotics & School Syllabus

What I Shared:

1) Dont rush for VC Money. Act Frugal and manage with money from known circle.Reasons: Entrepreneurs get flexibiity and dont sale cheap.
2) Take idea to next level. Atleast some prototype or some market traction.
3)  Have some road map to follow, it should be as detailed as possible.
4) Have team with complementary skills and allocate area of accountability.
5) Have simple business model of present problem area. Initial complexity may prove non starter.

Ideas are in plenty , Making it happen is the real challenge. 
All the best to all entrepreneurs and people with gr8 ideas for Making it Happen.

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