Bootstrappers Guide to VC Hunt
Loading ...It is like proposing to 20 women and you have no idea whether you’ll get lucky. This is one reason why budding entrepreneurs prefer funding their own dreams rather than chasing VC (venture capital) funds.
The innovators and VC firms discussed, debated and deliberated on VC funding versus bootstrapping at the Nasscom Product Conclave and Expo 2009 on Wednesday.
According to Swami Manohar, founder and MD of internet and mobile company Limberlink Technologies, bootstrapping is the way to start up one’s business, but VCs become a part of your dream venture when companies are looking to scale up.
Srikant Rao, president and CEO of Affordable Business Solutions, said one has to be a megalomaniac of sorts to get into bootstrapping since corporate red tape stifles opportunities for young turks.
Also, the fear of losing control over one’s baby is one of the reasons why many entrepreneurs hesitate to be VC-funded. But according to Ashish Gupta, managing partner of Helion Advisors, “VCs do not want control. They help you to aim better.” He added that one should always have strong independent members on board who can bring in practicality to the table.
Juggling between products and services-related business is not a task that even the best juggler can do with aplomb. Term loans from banks are not easily available for starting new ventures. Entrepreneurs have to draw up action plans for smooth exits of VCs.
Media Coverage: DNA Bangalore
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