Pitch the Rich sessions at IIT Delhi

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.

About the Author

Amit Grover, founder of AHAtaxis.com, is an IIT Delhi and IIM Indore alumnus, having more than 12 years of industry experience. He started Nurture Talent Academy, and earlier worked with Infosys, Asian Paints, Onida and Mumbai Angels. He regularly blogs on www.amitgrover.co.in. AHA Taxis, his recent venture, offers one way outstation travel across India.

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