‘He rainmade you. A guy says if you pay him, he can make it rain. You pay him. If and when it rains, he takes the credit. If and when it doesn’t, he finds reasons for you to pay him more. Clay Davis rainmade you.’
Maurice ‘Maury’ Levy, The Wire
We all have dreams, some are possible dreams, some are plausible dreams, and some are probable dreams. Most of the funding goes to the probable dreams. Machine Dalal is a serious venture. We want to build this into a transformative company, so we are building this into a transformative company. Only the speed is slow and growth is low. But nothing money can’t fix.
So, one must raise the funds.
I have been in a software business for as long as I can remember but I am not too much of a fundraising bloke. Although I am a trained economist who manages an excellent team of data scientists and analysts, so I am sure once I get to building a growth model, and apply DCF (discounted cash flow), NPV (Net Present Value), et al. We should be up to it. I will also share that information as well. If it helps, it helps.
I am not a fundraising expert, I think I have mentioned that before, and before I continue my journey of what I am doing and what you should probably be doing as well, if you non-networked Indian, living in India and trying to raise funds in India.
Here is a short list of organizations, people and media outlets that will almost never help you.
1. TiE India Angels
They are event organizers for most part. There is nothing wrong with being an event organizer. There is also nothing wrong with attending events. But if you feel you are going to make any major breakthrough over there, you would be sorely disappointed.
It is too noisy, too crowded, and too vague.
2. VCCIRCLE
VCCIRCLE is again one of those shovel manufacturers of gold rush guys. They run courses and classes, almost everything is either not your domain or you would be able to find free help once you need it.
They have smaller events with higher fees and would discuss everything that comes after you have raised funds, not before.
In fact, some of their speakers (who would be leaders running funded businesses) would deride you for attending the event and not concentrating on your business.
3. Not Taking Names but those guys
All those assholes who ask you to follow your passion. The reason I am not taking names is because I will write about them later and name each of those who have totally destroyed my YouTube viewing experience.
‘Your idea of the start-up is either a serious business or an expensive hobby.’
Do not bet your life savings, career, job, or time on it if you feel it can’t be the former and you cannot afford for it to be the latter.
Failures are okay. Delusions are not. Only one makes us human. So, stay human.
4. YourStory and idiot awards
If you see a news article in YourStory then someone paid for it. Do not pay for news. Do not pay for rewards.
PR is important for those who want to build reputation or preserve theirs. You have neither. Your unnetworked Indian entrepreneur who is trying to raise funds. Do not be a sucker to such devices, the investors see it coming from miles ahead.
1 and 2, I have first-hand experience of. Since I also have a software business, I am regularly inundated with those no-name magazine awards. For YourStory, I had a conversation, and they pitched their rates.
I feel it takes great wisdom in knowing what not to do, and there I have saved your time, energy, and money.
There are certain fundamentals to fundraising and I feel they do not change much. First of all, your idea should translate into sound business and you as the leader should have a proper narrative to support it.
You should be able to define your market and support your hypothesis with good sound math. Everyone goes wrong there. Especially those IIT/ IIM / IVY Leaguers. Not because they are full of hubris, but because that is the nature of business that is predicated upon future events, and future my friends is promised to no one.
Good night and Good Luck and remember that those who don’t believe in magic shall never find it. Until next time……