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.

Meeting Young Entrepreneurs @ IIT Mumbai

Entrepreneurship Cell at IIT Mumbai has invited me at their Mentoring Session on 11th Dec.

Getting in to IIT is a Dream come True. Few lacs appears and few thousand qualify. Great sense of achievement. (Unlike CA Course, entry here is difficult where as in CA course exit is difficult.)

However getting in to the IIT (Or IIM) is the beginning or the first step. Life begins when U r out of the Inys. What U do with IIT degrees matters. One CAUTION when one is from IIT, HUGE EeeeGooo. (Naturally)

Technology matters but!!!!! in the world of entrepreneurship again it is the FIRST qualifier. Success depends on Marketing and Financial Results technology brings. If not then Technology has no valve. Microsoft , a successful technology company but more than that smart marketing company with fantastic financial results.

IITians many a time believe and focus so much on technology that they ignore importance of the other 2 important business functions.  If U r in JOB then fine , other expertise are available with the company but when U r acting as an entrepreneur, one need to not only learn and acquire marketing and financial talents but also respect the importance of the same.

Technology plus Marketing Plus Finance plus Social Impact makes a successful enterprise. Look forward to meet many young IITians and come back with much more insights to share. Cheers.