ENTREPRENEURSHIP

&
NEW VENTURES

Nothing that sends you to the grave with a smile

on your face comes easy..……..
Work hard doing what you love… Find out what
gives you energy and improve on it…
An Entrepreneur
 Businessman Vs. Entrepreneur
• They have many similarities like
– they both provide jobs
– give solutions to consumers and
– help to develop economy
• They are not same. To understand the
difference we need to understand 3 profiles
– What is important for businessman: Money
– Social worker: Solutions for a problem
– Entrepreneurs: Solutions and Money
 Idea
• A businessman can make a business out of an
unoriginal idea:
– Existing business
– Franchise or hot business, where models are all
ready successful
• Entrepreneur is a creator for new idea for his/
Her startup
– Invest money and
– Time for new idea…
 Objective
• Businessman:
– For profit takes calculative risk and work hard to
avoid bankruptcy
• Entrepreneurs are skydivers as the main
objective is
– To pursue their passion and work for making
difference
 Employees
• A businessman is an employer and a manger.
He/ she hire employees for growth of his/her
business.
• Entrepreneur is a leader and mentor and
invite people to help them grow.
 Customers
• Businessman considers customers as Source of
sales and revenues.
• Entrepreneurs follows customers as own life
blood and see customers as a duty of
fulfillment.
 Competitions
• Businessman compete to win against all other
competitors.
• Entrepreneur tries hard to beat himself…as he
considers himself as a challenge and push
his/her own boundary everyday.
 Success
• A businessman defines success as success of
his business and profit
• entrepreneur himself/herself does not define
success, rather He let the history define about
his/her compliments.
 The Entrepreneurial Mind

• Who can be an entrepreneur you ask?

– Anyone who wants to experience the deep, dark
canyons of uncertainty and ambiguity;
– and who wants to walk the breathtaking
highlands of success.
– But caution, do not plan to walk the latter until
you have experienced the former.
– An entrepreneur
 Background
India has a vast population of over 1.21
Billion(2011 Census)
– India has more than 50% of its population
below the age of 25 and more than 65% below
the age of 35.
– It is expected that, in 2020, the average age of
an Indian will be 29 years, compared to 37 for
China and 48 for Japan
It is very difficult to provide
direct employment to such a
vast youth population.
 Need for Entrepreneurship

• Entrepreneurship is a great way to fill

the void and it must be encouraged
not only in metros but also Tier-2 and
Tier-3 cities.
• It also fosters innovation which a
stepping stone to development.
 Achieving Entrepreneurial Greatness
• Treat others as you would want to be treated.
• Share the wealth that is created with all those
who have contributed to it at all levels.
• Give back to the community.
 Characteristics of Entrepreneurs
• Risk bearing
• Source of formal authority
• Innovation; initiative
• Desire for responsibility
• Need for achievement
• Ambition
• Human relations; communication ability;
technical knowledge
• Need for power
• Internal locus of control
MY STORY
 Mukunda Foods
• Food manufacturing and Automation
• 2011, Banglore
• Eshwar Vikas, Sudeep Sabat
• Received Indian Angel Network Funding
• 1000 placed customer
2011 2015
Capital 10 Lakhs 2 Cr
Revenue 0 1-1.2 Cr
Employees 2 30
Customers 1 100
 99tests
• Software
• 2010, Banglore
• Praveen Singh
• 99tests has a tie-up with Rich Interface Society
• Raised a $100,00 in funding
2010 2013
Capital 5 Lakhs $100,000
Revenue 0 52-53L
Employees 1 5
Customers 1 150
 Innovese Technologies
• Software
• 2012, Delhi
• Ankit Gupta, Dhruv Sogani
• Acquired by Networkplay Media in 2013
• Selected among the top 30 entrepreneurs at
Global Entrepreneur awards in 2012

2012 2014
Capital 5 Lakhs 2 Cr
Revenue 0 45 L
Employees 3 5
Customers 0 50 Publishers, 20
Advertising agencies
 VenTec Solutions
• IT/CleanTech
• 2013, Mumbai
• Pratik Lotia, Brijesh Moria, Tejas Oturkar
• Revenue scaled 4× since 2013, selected in the
top 50 innovators of India by FICCI-DST
2013 2014

Capital - -
Revenue 1L 4-5 L
Employees 4 8
Customers 3-4 15-16
 DecideQuick Services
• Analytics
• 2012, Thiruvananthapuram
• Sameer Thapa, Jayasooryan K.V., Karthik Sundarajaoo,
Arjun Satheesh
• Received Angel Funding from Jagadeesh Vijaykumar
• Received TATA first Dot 2013 Judges Choice Award

2012 2015
Capital $100,000
Revenue - -
Employees 3 12
Customers - 5000+
 Sacred Moments
• Corporate gifting/ exports
• 2006, Mumbai
• Prakash Mumdhra
• Customer has grown 25 times
• Bootstrapped with 6 to 8 lakh, turnover of 4
Cr now
2006 2015
Revenue 0 4-5 Cr
Employees 1 7
Customers 20 500
 White Rivers Digital
• Digital Consultancy
• 2012, Mumbai
• Shrenik Gandhi, Nikhil Kothari
• Ranked among top 50 digital marketing
professional by SMO Asia Council and World
Marketing Congress.
2012 2015
Capital bootstrapped
Revenue - -
Employees 3 17
Customers 3-4 25
30+ Enterprise startups from India that
have taken the world by storm
• FreshDesk: An online customer support software and helpdesk solution.
Founded by Girish Mathrubootham, FreshDesk is one of most promising
companies coming from India. Started from Chennai, building for the
world, FreshDesk recently raised a $50 million series E round and is serving
more than 40,000 enterprise customers.
• ChargeBee: Subscription and recurring billing software. Co-founded by Krish
Subramanian from Chennai, ChargeBee got backing from Tiger Global and Accel
Partners worth $5 millionand is processing $100 million for their customers
annually.
• Capillary: Intelligent customer engagement management solutions. Founded by
Aneesh Reddy and Krishna Mehra, Capillary is a seven-year-old company that
has managed to crack the global market. The company has raised $34 million
till now, the most recent of which was a $14 million series B round from
Sequoia Capital and Norwest Venture Partners.
• Peel Works: Cloud-based tool that helps businesses build a smarter sales force
through data analytics. This SaaS venture was started by Sachin Chhabra and
raised a $2 million series A round in July 2014.
• Sapience: Time management and employee performance software. Co-founded
by Shirish Deodhar, Pune-based InnovizeTech Software recently raised INR 45
crores series B roundfrom Orios Venture Partners and other angels. Helping
companies improve time efficiency at work, Sapience sold more than 60,000
licenses in 2013-14 alone.
• Helpshift: A CRM for mobile apps which lets the app users to get in
touch with the developer. Led by Abinash Tripathy, this startup that
went global from Pune raised a $10 million series A round led by Intel
Capital and Visionnaire Ventures.
• Framebench: File reviews online. Founded by Rohit Agarwal and Vineet
Markan as a collaboration platform for designers, the product has
pivoted and found an enterprise play. Backed by Blume Ventures and
earlier going through the iAccelerator program, Framebench wants to
invent a new approach for professionals to share, review and work
together on any file across remote locations.
• Kayako: Helpdesk and customer support software. Founded by Varun
Shoor in 2001, Kayako is a hidden gem that is a global success story
built from Jalandhar. Completely bootstrapped, Kayako has a team in
Jalandhar, New Delhi and London, and its enterprise software is being
used across the world.
• Mindtickle: Sales readiness solution helps get a sales team ready.
Starting as a learning platform, Mindtickle is a Pune-based company
that started in 2011. Since then, it has found a sweet spot with sales
team training and is building on its strong gamification foundation.
• Unmetric: Social media analytics firm. Based in Chennai and New York,
Unmetric raised its $5.5 million series B round in 2013 and currently
boasts of having processed more than 150,000,000 pieces of micro
content over six social networks for 25,000+ brands from 30+ sectors.
• Zoho: Software for various business needs. Founded by Sridhar Vembu, Zoho is
a bootstrapped company with revenues estimated at a whopping $100 million.
Zoho is one of the few enterprise companies that has been able to keep up with
the times and has managed to become a global brand.
• FusionCharts: JavaScript charts for web, mobile and apps. Another gem of a
company built from Kolkata, Fusion Charts was started more than 15 years ago
by Pallav Nadhani who was only 17 back then. The company came is as an
alternative for Excel and has managed to create a niche market. FusionCharts is
also bootstrapped.
• Mobstac: iBeacon proximity marketing and analytics platform. Co-founded by
Sharath Potharaju, Mobstac started out as a product that helped brands
leverage mobile commerce and this was the model till they raised a $2 million
series B round from Accel Partners and Cisco. After this, they found a more
targeted area and are focusing on the iBeacon technology.
• Druva: Enterprise end point data protection and governance. Founded back in
2008 by Milind Borate, Jaspreet Singh and Ramani Kothandaraman, Druva has
attracted more than $65 million in funding and 3000+ enterprise customers
globally.
• CloudByte: Storage for shared , multi-application environment. Founded in
2011 by a team of senior technology professionals, Greg Goelz is the CEO of the
CloudByte and the company has raised more than $6 million in funding till now.
It boasts of clients like Sony, Citrix, netmagic, Apptivo, etc.
• Webengage: Onsite customer engagement suite. Founded by Avlesh Singh
and Ankit Utreja, Webengage is backed by angels like Rajan Anandan and
it later raised an INR 2.5 crore round from Blume Ventures and GTI Capital.
Based in Mumbai with a presence in New York, Webengage is used by
thousands of enterprise customers.
• Wingify: Pioneers of A/B testing, it is now entering the field of testing and
optimization. Wingify is a bootstrapped startup that created a space for
itself in the A/B testing arena with more than 3700 customers at the
moment. Founded by Paras Chopra from New Delhi, Wingify is a
storehouse of knowledge around A/B testing.
• SignEasy: Electronic signatures. Founded by Sunil Patro, SignEasy helps
companies and people expedite business transactions and workflows by
eliminating the need for printing, faxing, scanning and overnight shipping
involved with paperwork. Used by companies in more than 150 countries,
SignEasy has more than 50,000 paying customers.
• Ozonetel: Hosted contact center & IVR services for businesses. Based out
of Bangalore, co-founded by Chaitanya C., Ozonetel is a bootstrapped
venture that expect to hit an ARR (annual run rate) of $5 million this year.
Look at Ozonetel's last year in review here.
• Exotel: Cloud telephony service provider. Based in Bengaluru, founded by
Shivakumar Ganesan, Exotel raised a $500k round in 2012 and since then
has been growing on the back of paying customers which include the likes
of redBus, Ola and UrbanLadder.
• Knowlarity: Cloud telephony and cloud handling solutions. Founded by
Ambarish Gupta, Knowlarity is based in New Delhi and has managed to
acquire clients the world over. In July 2014, Knowlarity raised a $16
million series B round.
• Germin8: Social media analytics platform. Since the launch of its first
product- Explic8- in 2012, Germin8 has leveraged its proprietary
technology platform and algorithms. Since then, it has grown to acquire
customers globally and raised $3 million from Kalaari Capital.
• Covacsis: Big data analytics for manufacturing firms. Founded by Tarun
Mishra and Abhijeet Mhatre in 2009, Covacsis is a Mumbai-based
company that has conceptualized, designed and implemented the
Intelligent Plant Framework (IPF) targeting manufacturing industries. The
company has raised INR 2.45 crores from Reliance Industries and Cisco.
• Logistimo: Mobile supply chain tools. Founded by Anup, Akkihal,
Logistimo is a logistics & supply chain software for rural emerging
markets.
• Seclore: Information security and rights management. Founded by Vishal
Gupta, Seclore is a security software company that raised $6 million in
2013 from Helion Venture Partners and Ventureast. The team has grown
more than 20 times over the last three years and currently employs more
than 100 people.
• Ezetap: Making payments easier. Co-founded by Abhijit Bose and backed by
AngelPrime, Ezetap is building products to solve the payments issue. The
company raised $8 million series B round in February 2014, and with a team
of more than 100, Ezetap has more than 20,000 devices being used across
India, South East Asia and Africa.
• Tyto: Founded by ex-ThoughWorks professional V Narayan Raman, Tyto's
Sahi Pro is a tool focused on automation of testing web applications.
Bootstrapped and a global company, the team completed their 5 years in
December with 350+ customers using Sahi Pro. Read their complete story.
• Zapstitch: Syncs data between e-commerce store & accounting software.
Founded by Satya Devarakonda, the Bengaluru-based company raised an
angel round in early 2014. Zapstitch is currently being used by more than
1200 online stores.
• CoCubes: Assessment and campus hiring platform. Co-founded by Harpreet
Grover and Vibhore Goyal, CoCubes is used by more than 450 corporate
and 2600 colleges. CoCubes is backed by Ojas Venture Partners and other
angels.
• Contify: Competitive intelligence for enterprise and teams. Founded by
Mohit Bhakuni, Contify's intelligence platform is used by enterprises to
supercharge their competitive strategy, special projects, outreach programs,
and deliver more value to clients.
• Whatfix: Helps companies build interactive ‘How-to’ guides. Founded by
Khadim Batti and Vara Kumar, whatfix pivoted to current enterprise model
and has since raised a $1 million round from Helion Venture Partners.
• Wooqer: A platform for increasing team and individual productivity. With
100+ clients and 100k users in total, Wooqer is a bootstrapped
company that has a platform designed to drive communication &
engagement across large closed groups (companies, forums etc).
• Simplify360: A Bangalore based social media analytics company which was
started back in 2009 by Bhupendra Khanal. It was in news about a year ago
when Adope, WPP, etc. were rumoured to buy out the company
but Simplify360 stood strong. With a string of top notch clients like Hero,
Infosys, HDFC, Ogilvy and many more, Simplify360 is a strong contender in
the global social media analytics space.
• KNOLSKAPE: Experiential learning solutions for businesses. Founded by
Rajiv Jayaraman in 2008, KNOLSKAPE has grown to build competency
in immersive gamification and simulation software focusing on talent
transformation. The company is tying up with some high profile HR
management companies and also have a significant presence in countries
like Singapore, Malaysia and Philippines.
Core attributes of an Entrepreneur
• Commitment and determination
• Leadership
• Opportunity obsession
• Tolerance of Risk, Ambiguity and Uncertainty
• Creativity, Self reliance and adaptability
• Motivation to excel
 Desirable attributes
• Intelligence
• Creativity and innovation
• Energy, health and emotional stability
• Values
• Capacity to inspire
 Who is the entrepreneur
Creativity and
Innovation

INVENTOR ENTREPRENEUR

PROMOTER MANAGER,
ADMINISTRATOR

General management skills, business know-how and network

 Myths about Entrepreneurs
1. Entrepreneurs are born
2. Anyone can start business
3. Entrepreneurs are gamblers
4. Entrepreneurs are their own bosses and independent
5. Entrepreneurs work harder and longer than managers in big
companies
6. Entrepreneurs experience a great deal of stress and pay a
high price
7. Start a business and fail and you will never raise money again
8. Money is the most important startup ingredient
9. Entrepreneurs should be young and dynamic
10. If an Entrepreneur is talented, success comes in a year or 2
11. Any Entrepreneur with a good idea can raise venture capital
12. Entrepreneurs are lone wolves and can't work with others…
 Evolution of the Concept
• Entrepreneurs were thought of as Frenchmen who
undertook to lead military expeditions (early 16th
centaury)
• By 1700 AD it included contractors who undertook
to build the infrastructure for military
• In parallel French economist used word
entrepreneur to describe people who bore risk and
uncertainty in order to make innovations.
 Evolution of the Concept
• Richard Cantillon “entrepreneurs are agent who
buys means of production at certain prices in
order to combine them into a new product”.
• Joseph Schumpeter “innovator, who develops
untried technology.”1934
• McClelland “ an entrepreneur is an energetic,
moderate risk-taker; 1961
• Peter Drucker “an entrepreneur maximizes
opportunities.
 Functions
• Risk measurement and Risk taking
• Innovate/create/discover
• Analyze the opportunities
• Strategize for the venture
• Develop a business plan
• Acquire the resources
• Organize and start the venture
• Develop and grow the venture
• Delegate, direct and lead the firm
• Supervise and control
 Types of entrepreneurs
• Socio cultural classification
• Motivational classification
• Entrepreneurial experience classification
• Technical experience classification
 Socio cultural classification

• Immigrant entrepreneurs
• Ethnic entrepreneurs
• Minority entrepreneurs
• Women entrepreneurs
 Motivational classification

• Family Business entrepreneurs

• First generation entrepreneurs
– Self actualize entrepreneurs
– Discontented entrepreneurs
 Entrepreneurial experience
classification
• The “Research” technical entrepreneurs
• The “producer” technical entrepreneurs
• The “user” technical entrepreneurs
• The “opportunist” technical entrepreneurs
 Technical experience classification

• Novice entrepreneurs
• Habitual entrepreneurs
– Serial entrepreneurs
– Portfolio entrepreneurs
 Intrapreneur
• Intrapreneurship is defined as
entrepreneurship within an already existing
organization. It is also referred to as corporate
entrepreneurship.
• Dr. Pawan Goenka : Scorpio (Mahindra and
Manhindra)
 Intrapreneur
• Creates new venture
• Innovates products/services
• Innovates processes
• Proactive
• Risk-taking
• Renews organizations
• Competitively aggressive
Concept of Entrepreneurship

Modern Entrepreneurship
Thought
1803- Jean Baptiste Say
1934- Joseph Schumpeter
1961- David McClelland
1964- Peter Drucker
1985- Gifford Pinchot

Ancient and Medieval roots of

entrepreneurship
1725- Richard Cantillon
AD 1500-1700- Middle and Far East Asia
AD 1300-1500- China
AD 1000-1500- Europe-Tax Farming
AD 500-1000- Europe
50 BC- Ancient Rome
Development of Entrepreneurship
 Stages in Entrepreneurial Process

Genesis of Conduct Detailed Write a

Launch the
Business Preliminary feasibility Business
Venture
ides Feasibility analysis Plan
 Entrepreneurship- Its Barriers
• Macroeconomic environment
• Legal and regulatory environment
• Corruption and unfair competition
• Financial obstacles
• Tax Burden
• Challenges in attracting talent
• Difficult to source raw material
• Expensive to access proprietary technology
 Presentations
• Nature and Development of Entrepreneurship-
Global and Indian perspectives: Marketing
Discipline
• Gender issues in Entrepreneurship: HR Discipline
• The dynamic role of small Business/Industry in
economic development: Finance Discipline
• Innovation and Entrepreneurship: Operations
Discipline
 Legal Framework
The legal aspects of entrepreneurship from the
following fields of law will be covered:-
• Intellectual Property
• Product Liability and Safety
• Labour
• Contract
• Corporate
• Taxation