kolkata march 2012
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How to build an Entrepreneurship Pipeline in KolkataTRANSCRIPT
Building Kolkata’s Entrepreneurship
PipelineSramana Mitra
Founder, One Million by One Million1M Entrepreneurs x $1M+ Revenue by 2020
http://1Mby1M.com
Entrepreneurship is a Darwinian Numbers Game
High Infant Entrepreneur Mortality600,000 companies go out of business every year in the
USBut, 600,000 business startup every year as well
99% of Entrepreneurs who seek Financing get
rejectedYes, even in Silicon Valley
Why?Not enough Validation
Not enough TAMInadequate TeamPoor Positioning
etc.
But, Silicon Valley has a HUGE Pipeline
US too. 600,000 businesses starting up each year.
Even with 10% failure, enough succeed.
Kolkata has a Minimal PipelineHow can we get 1000 startups going in
Kolkata rapidly?
By Aligning with Trends
So far, Kolkata has missed every one of them
Recap of Trends
IT Services Outsourcing to Fortune 500 / Global 2000 (started in the eighties, gained momentum through the nineties; ongoing)
Recap of Trends
IT Services Outsourcing to Mid-Sized Enterprises (picked up in the late nineties; ongoing)
Recap of Trends
Outsourced Product Development (Post 2000 recession; ongoing)
Current Trend
IT Products and Services for Small Businesses
Easy to Market Through Online Channels
Case Study: Zoho
•Has taken on Salesforce.com in CRM software
•Trend: Affordable SaaS
•$100M+ company now
Case Study: Freshdesk
•1M/1M Premium Company
•Affordable SaaS for Customer Service for Small Businesses
•$1M Financing from Accel Partners
Services
•Numerous small companies that sell their services through oDesk, eLance, etc.
Market Size
•$100B+ Market Opportunity
•Can support 1000s of companies
Kolkata Needs To Catch This One
And build an entrepreneurship pipeline
Case StudiesSome opportunities and examples
based on needs observed within 1M/1M
YouTube Marketing
Example: 1M/1M YouTube Channel, Cartoons, Videos Content + Marketing Services
Spruce Media: Facebook Media
Buying & AnalyticsProduct + Services
Analytics: Core Competency
WPromote: SEO, PPC
Kolkata has companies, expertise in this space
Could become a core competencyBuild new technology. Example: BloomReach
Wildfire: Social Media Campaigns
Product + Services
Minimum Viable Product (MVP) Development
Mobile, Social, Online AppsExample: XMinds from Kerala
Software Development Services
Other Needs: Writing, Design, Web Research, Lead Gen, Data Entry,
Email Campaigns, Email & Chat Support
Small businesses need numerous outsourced services to maintain a lean but effective growth model
Can Generate a Million Jobs by
2020Highly labor intensive businessesPerfect for lower-end Outsourcing
1M/1M: Virtual Incubator
We also have needs for products / services within the network
1M/1M Core Focus on Scalable, Effective Mentoring
Mentoring = (Curriculum + Strategy Consulting)
Silicon Valley Methodology and Insider Network
Methodology, Curriculum, Mentoring, Consulting,
Biz Dev, Financing, Media Access
1M/1M Will Help You With Business
Strategy & Execution
Sramana MitraFounder, One Million by One Million
1M Entrepreneurs x $1M+ Revenue by 2020http://1Mby1M.com
Skype Irina_patterson