The first round of Startup Weekend events in India came to a close in March. Startup Weekend Delhi was held at the American Center from March 4th till March 6th 2011 and Startup Weekend Bangalore was held from March 11th till March 13th 2011 at Microsoft’s Signature building.
September 2nd 2011 marked the beginning of the next round of Startup Weekend events across India. Startup Weekend Hyderabad was held at ISB from the 2nd – 4th of September. This was the first SW held in Hyderabad and we honestly didn’t know what to expect. We had only sold 25 tickets in the first 2 months that ticket sales were open. In the last three days before the Friday night pitches, we sold over 50
I’ve seen lots and lots of “me too” ideas and quite a few “hohum” ideas. There are some decent ideas with very little depth prior to SW. Startup events in India need to be about team formation, experience building and experimentation. Between these three events, Startup Weekend has kicked off 39 teams of entrepreneurs, techies, designers, and business people. Granted, out of these 39 teams, probably not even four will survive more than a year but that’s not the point. The point is that these 175 or so people, will be better entrepreneurs the next time around.
I believe these three events did something that no other event in India has done so far. It showed people that they CAN execute their ideas in a very short span of time. With complete strangers, in most cases, they can put together a business case and build a prototype to showcase to potential investors.
In a few cases, teams from Startup Weekend in India have had discussions with investors directly as a result of Startup Weekend. One of the biggest pain points for many entrepreneurs in India has been funding and Startup Weekend in India has helped ease this pain point in a small but important way.
Startup Weekend has also shown investors that entrepreneurs, techies, designers can do some really interesting things in a short period of time if all the ingredients are there. Its created potential deal flow for early stage investors starved for investable ideas teams. Already, Startup Weekend clones are popping up across India.
The confidence and the energy that people have displayed at Startup Weekend in Delhi, Bangalore and Hyderabad has been quite contagious. Techies were pushed to deliver minimum viable products and marketers and business people were forced to come up with viable plans in a very short time span. In just a weekend, many people were able to successfully deliver business cases and prototypes. Having done so has shown them that they CAN, in fact, put together teams of the right people and deliver. Being able to find cofounders that can execute has given people the confidence needed to take their ideas from Startup Weekend and pursue them.
Another very important factor was the presence of great mentors that spent considerable amounts of time with the business, techie and design members of each team, helping them develop various aspects of their ideas and the technology being employed. Many of the mentors present have exhibited interest in helping future teams in the same way. Even some panelists have shown interest in being mentors and working with the various teams throughout the next Startup Weekends in India. However, some mentors and panelists have also been disappointed by the lack of depth in the ideas Read More…