Last week, I attended the Entrepreneurship Summit at Indian Institute of Technology, Delhi. It was a homecoming of sorts (I am an alumnus, 2001 passout) after 10 years. Some things never change – wind tunnel, Dogra Hall, seminar Hall, Ex Hall (exhibition hall) are still as pristine as I left them!
Coming to the event, all in all it was average. The startup showcase at the ex-hall had lots of empty stalls. Most of the events were delayed. The plus points were a nice talk by Ashish Gupta of Helion Venture – good to see a VC call a spade a spade! From the investor’s side, I have found myself at a loss of words while saying no to entrepreneurs (though its an art I have mastered now over 3 years).
Pitch the Rich session was fine – the funda behind this being entrepreneurs pitching to rich people (thats not me!). A couple of companies have done well and may make the grade of Mumbai Angels as they have a great team and great concept running for them (admission for nursery kids, apps for iPhone). On the other hand, a couple of professionals may not even start, and I was surprised they are pitching to investors without knowing when they want to start or what their funding requirement is. I have never seen an entrepreneur get investments by saying they will start if they get the funding – investors prefer commitment over choice. All the best to the young guys anyways.
Lets hope for a better event next year.