Even as entrepreneurship is growing rapidly in the country with more youngsters entering into business with new ideas, Chandu Nair, Senior Investor and Director of Menterra Ventures, Chennai, has claimed that the country still lacks a strong system for entrepreneurship.
TiE President (Coimbatore Chapter) Karthikeyan welcomed the chief guests and the gathering.
Talking on "Alternate Funding at the Scale Up Series" jointly organised by TiE Coimbatore and CII, Chandu said that lack of proper academic institutions has also been one of the major reasons for not helping in the progress of entrepreneurship in the country.
“Such institutions will help entrepreneurs in terms of going about their business with the right tools and managing their profit or loss effectively,” he said.
Talking about the important aspects to know before approaching an investor, Chandu informed that entrepreneurs should do ample homework about the investor before they approach one.
“The big problem we have right now is, most of the people either do not know who to approach and how to communicate their ideas, value proposition in the best way. Success lies in understanding the basics,” he opined.
He further added that one of the major aspects an investor would look into a new business is the idea and the individual.
Talking about the various types of angel investors, Chandu also stated that entrepreneurs should also be careful about using the funds wisely, importantly keep a track on the cash flow.
“The entrepreneurs should also never work based on assumptions,” added Chandu.
Earlier, Mitul Shah, Senior Director at Alvarez and Marsal, informed the gathering about the various aspects involved in a business including diligence, financial dues, different types of investors and capitols. He also threw light to the audience about how to prepare proposals for investment.
Both the Chief guests stressed on the integrity and discipline the promoters/startups should cultivate in them and not to take the seed/angel investment for granted.
Entrepreneurs, startups from in and around the city participated in the event. The vote of thanks was proposed by Nikhil.J.Vikamsey, Partner , Alpha Capital.
TiE President (Coimbatore Chapter) Karthikeyan welcomed the chief guests and the gathering.
Talking on "Alternate Funding at the Scale Up Series" jointly organised by TiE Coimbatore and CII, Chandu said that lack of proper academic institutions has also been one of the major reasons for not helping in the progress of entrepreneurship in the country.
“Such institutions will help entrepreneurs in terms of going about their business with the right tools and managing their profit or loss effectively,” he said.
Talking about the important aspects to know before approaching an investor, Chandu informed that entrepreneurs should do ample homework about the investor before they approach one.
“The big problem we have right now is, most of the people either do not know who to approach and how to communicate their ideas, value proposition in the best way. Success lies in understanding the basics,” he opined.
He further added that one of the major aspects an investor would look into a new business is the idea and the individual.
Talking about the various types of angel investors, Chandu also stated that entrepreneurs should also be careful about using the funds wisely, importantly keep a track on the cash flow.
“The entrepreneurs should also never work based on assumptions,” added Chandu.
Earlier, Mitul Shah, Senior Director at Alvarez and Marsal, informed the gathering about the various aspects involved in a business including diligence, financial dues, different types of investors and capitols. He also threw light to the audience about how to prepare proposals for investment.
Both the Chief guests stressed on the integrity and discipline the promoters/startups should cultivate in them and not to take the seed/angel investment for granted.
Entrepreneurs, startups from in and around the city participated in the event. The vote of thanks was proposed by Nikhil.J.Vikamsey, Partner , Alpha Capital.