06Feb

Google Launchpad for Indian Startups

Todd-Crosland-Startup-Google-LaunchpadGoogle recently tested its startup mentorship program in Israel and is now shifting its focus to Indian startups. Due to the developing interest in Indian startups, Google has decided to implement its startup program, Launchpad, in India. Monday was the start of the first of four weeks long programs. So far, Launchpad has a shortlist of 20 startups and 1,450 venture capitalists to fund the projects. Most of these companies are in the education and healthcare industries Representatives from Google and other companies will mentor and coach developing startups looking to grow.

This will be beneficial for Google for investment purposes in the future as well as emerging itself in the bolstering digital economy in India. Google Ventures has already invested in a real estate customer support tool, Commonfloor and Freshdesk.

Launchpad is set to mentor close to 100 companies in India. Launchpad started in Israel three years ago, and is currently in 20 different cities around the world. As the digital economy grows, so does Google because companies spend money on Google to obtain a larger customer base. Last year, Google increased online advertising spent by e-commerce companies by 47% year-on-year.

All companies that Google aids in their startup program will be consolidated under Launchpad. Google’s Launchpad is seen as a platform to train developers on how to turn their product into a startup company. While most of Launchpad’s activities will be focused in Bengaluru, Google’s startup mentorship program plans to situate itself in 50 different cities all over India.

Google is not the only company entering India’s digital economy. A couple of months ago, Microsoft launched their business accelerator program Microsoft Ventures in India. From 2013, venture capital funding in India is up 261% or $3.86 billion. Venture capital companies form all over the world are intrigued by India’s bolstering digital economy, as Japan’s Softbank plans to invest $10 billion in India’s startup industry.

06Aug

Crowdfunding Tips for Startup Entrepreneurs

Todd Crosland CrowdfundingA recent article in crowdfund insider discussed different rules for crowdfunding success. Crowdfunding is a relatively new method for startups to build capital where the general public can invest in a company and gain equity. This method of funding developed so that entrepreneurs could reach a wider audience to raise money in the early stages of development. Crowdfund insider lays out six rules that a startup entrepreneur should be aware of if they decide to use the crowdfunding method for further support.

The first rule is to engage in the investor community. Entrepreneurs need to be present and easily reachable through social media. Research shows that entrepreneurs who are socially active in the investor community are able to attract more investors.

The next rule is every entrepreneur needs to have proof of concept. Having an idea will not obtain any entrepreneurs any investment. They have to have some sort of advancement in their product to prove that the product can be turned into a business. Whether it is sales numbers, awards, or partners signed on, there needs to be something more than just an idea to add to the credibility of the product.

Rule number three is to value your company at a price that isn’t too greedy or too humble. Investors pay attention to the entrepreneur’s valuation to evaluate the kind of entrepreneur that they are. The valuation acts as a self-imposed forecast to how their business will scale.

Next on the list is passion. An entrepreneur must be passionate about the product that they are putting forth. This will show that they are willing to work hard and put the effort into making their company successful. Passion also helps build a strong employee base as passion becomes contagious.

A unique selling proposition is one of the first aspects of a company that an investor looks at. The entrepreneur needs a clear vision as to how the company will succeed and deliver that message in a clear and succinct manner.

Last but not least, if an entrepreneur want’s to gain attention in the crowdfunding community, they need to have a video to tell their company and product story. The video acts as a resume and cover letter for a job; it is the first entry point to an investor. This is where the entrepreneur can clearly display their product, lay out their business plan, and pitch their vision. This is also the platform where entrepreneurs will show their personality and passion for the company as investors watch and make a preliminary judgment.

You can read these tips in more detail from the article itself posted here.