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Three cheers for startups that manage this! I attended a talk given by the Hyderabad Angels some time ago and found their outlook to be very strange. "We only
by kislayverma 14y ago
Three cheers for startups that manage this!
I attended a talk given by the Hyderabad Angels some time ago and found their outlook to be very strange. "We only fund companies with a proven and existing source of revenue. We don't fund ideas. We are here to sponsor growth of an established idea."
For angels level investors to take this line was very strange for me. It is likely due to this that mostly clones are getting funded in India.
- kamaal 14y agoThere is a different angle to look into when it comes to these problems. A while back the Karnataka state government had set up a fund to help start up's grow. It turns out most of the money was taken by NGO's, and the answers for justifying that was given as charity work. Not only did the money go into the wrong hands. It turns out most NGO's who took the money were not even actual NGO's. Most were simply trusts set up to park money for tax evasion. Such things are very common. There is a degree of risk involved in funding such ventures in India. Unfortunately that risk is not that businesses may fail. But that some one might be taking money from you without even having a business. It might just be a phoney venture set up to take investor money and run. Therefore investors wish to do some check on how serious you are before funding you.
- crimsonzagar 14y agoYou lost it at this point: > Therefore investors wish to do some check on how serious you are before funding you.