Valuable insights for entrepreneurs, both existing and potential ones, emerged at the book launch of ‘Start Ups! Finding Funding’ by Mehul Darooka and Vikas Kumar at the Sumant Moolgaokar auditorium, MCCIA Towers.Written as a compilation of funding experiences of twenty successful entrepreneurs, the book highlights innovative ways in which enterprises have found the resources to keep running.
While institutional funding of startups is still at a nascent stage in India, the entrepreneurial spirit is strong, and the means that have been profiled in this book show how a good idea backed by hard work and a pragmatic approach can attract support and resources from a wide network of benefactors.
Shri Anant Sardeshmukh, Director General of the MCCIA, Chief Guest on the occasion, spoke abou the importance of the examples mentioned in ‘Start Ups! Finding Funding’ in the context of the hurdles encountered by SMEs in the path of institutional funding, particularly from banks. He welcomed the publication of such a book in Pune, a hub of small and medium enterprises.
Smt. Sunanda Mehta, Resident Editor of the Indian Express, Pune spoke as Guest of Honour and praised the practical examples that had been mentioned in the book. She said that young entrepreneurs often started with ideas that needed to be tempered by experience and the challenge of circumstances. Such a book would give even youthful potential entrepreneurs good ideas and advice, she said.
Mr. Anand Lunia, venture capitalist and Guest of Honour, spoke of his unenviable task of having to say ‘No’ to ninety per cent of the proposals that came before him. It was important for budding entrepreneurs to explore all available ways of funding before approaching VC, he said. Besides, he pointed out that companies that received large amounts of capital from VC invariably tended to use up the money and lose their competitive edge in business, giving his and author Vikas Kumar’s own example from a different stage in their careers.
The event was attended by a wide and appreciative audience and Vivek Gupta, who was compere on the occasion, moderated the Q&A session with the authors and dignitaries. Ms. Pooja Kumar of SME Joinup, presenters of the book, welcomed the gathering.
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