- The first TMSPS was organised at PlankCowork with strategic partnership with Karnataka Digital Economy Mission (KDEM) and A F Plank Accelerator
Bengaluru, NFAPost: The NFA Post successfully organised on Thursday TheNFAPost Monthly Startup Pitch Session (TMSPS) with overwhelming participation of selected VCs from BSC Investment Group, StaticFlow, Malabar Angels and A F Plank Venture and 8 startups amid cautionary note on spending spree of entreprneurs.
Speaking at the event, TheNFAPost Founder and Editor-in-Chief N V Vijayakumar said TMSPS is going to be a monthly pitch session for entrepreneurs to interact with VCs so that their company can be taken to the next orbit of the growth journey.
“TheNFAPost is committed to the growth of startup ecosystem in the country and TMSPS is the right step to take innovation-led entrepreneurship part of mainstream of economic and business activities,” said TheNFAPost Founder and Editor-in-Chief N V Vijayakumar.
Interacting with startups, BSC Investment Group Partner Jay Amaran said there is a need in the country to make startups equip with the necessary fund flow so that their ideas can be materialised without any hassles.
“It is a reality that capital plays an important role along with a great idea of a startup. I belive TMSPS can be a game changer as it brings VCs to the doorsteps of startup entrepreneurs and they take advantage of it,” said BSC Investment Group Partner Jay Amaran.
StaticFlow Partner Ramanathan also highlighted the fact when coming for the pitch session startups should be ready with their ideas.
“It is not only readiness of idea, they should do proper validation of their ideas with a few customers and thus make it market fit. Once there is a team and cash flow to showcase, VC community will be interested in becoming part of their journey,” said StaticFlow Partner Ramanathan.
Expressing his happiness over the event, Malabar Angel Network (MAN) Cofounder Gopalakrishnan expressed that the founders should effectively communicate with VCs with their fund requirements.
“With minimal time-frame they should explain their problem statement, business model, how technology plays an important role in resolving it and how they will spend the fund once it is disbursed. There should be a proper self-evaluation from entrepreneurs and they should show their integrity in ther journey with VCs,” said Malabar Angel Network (MAN) Cofounder Gopalakrishnan.
Accelerate India Foundation Trust Executive Secretary Dr Vittaldas Kamath Cannanure appreciated the new age entrepreneues to resolve problems around them availing technology tools.
“Entrepreneurs should be watchful of the changing landscape of technology and come up with unique solutions which will disrupt the market. Then only they can tide the wave of competition and survive in the market,” said Accelerate India Foundation Trust Executive Secretary Dr Vittaldas Kamath Cannanure.
Speaking on the investment scenario, Malabar Angel Network (MAN) representative Mann Mohan Prasad cautioned the startup not to get into spending spree.
“Now it has become a usual affair that cash burn among startup founders. But if it is not end up in desired result the whole endeavour will become a waste. So running behind a judicious spending at the same time a right mix of top line and bottomline should be there with the founders,” said Malabar Angel Network (MAN).
Delivering his vote of thanks speech, TheNFAPost Managing Director and Business Editor Dr Rajesh Palayil expressed the support extended by the VC community and also startup participants.
“Behind every business innovation there is hardwork of a bunch of people called entrepreneurs. Our nation is indebted to them and TheNFAPost Monthly Startup Pitch Session (TMSPS) is an effort in the right direction to make India future ready. Here, I extend my sincere thanks to our strategic partners Karnataka Digital Economy Mission and AFPlank Accelerator for making this event a grand success. I also, appreciate PlankCowork for providing the infrastructure to conduct the event,” said TheNFAPost Managing Director and Business Editor Dr Rajesh Palayil.
