DARE - Because Entrepreneurs Do

This is a great time to be in India, especially if you are a budding entrepreneur. India is the second fastest growing economy in the world. The largest population of youth under 25, some 600 million of them, live here.

Supporting ecosystem
Entrepreneurs require a vibrant supporting ecosystem, and it is getting stronger. Angel investment is critical for budding entrepreneurs. In the US, angel funding is almost at par with venture capital. In comparison, Indian entrepreneurs have access to very limited money, mostly from friends and families. Organisations like the Indian Angel Network and Mumbai Angels have emerged, in which a group of individual investors collectively fund selected companies.

Shirish Deodhar Co-founder, InnovizeTech Software

Many global VC firms have an India office, though their investments have not risen since the peak of 2007 due to the global downturn. Successful Indians like Infosys’ N R Narayana Murthy are stepping in with Indian VC firms like Catamaran to fill the breach.

Academic institutes like the Indian Institute of Technology (IIT) Bombay and the Indian Institute of Management (IIM) Ahmedabad have set up incubation centres that provide space, some seed capital, and a supportive environment with the presence of advisors and access to industry veterans and investors.

A number of institutions and online communities are actively engaged in raising awareness about entrepreneurship. One of the oldest and world’s largest non-profit organisations, The Indus Entrepreneurs (TiE), offers many innovative programmes and initiatives. Another India-specific non-profit organisation called National Entrepreneurship Network (NEN) has set itself the goal of launching 2,500 entrepreneurs, who will create a minimum of 500,000 jobs by 2014. Proto.in is another organisation that has been conducting events every six months in various cities. It showcases selected start-ups to investors. Other professional organisations active in promoting entrepreneurship include NASSCOM, the Computer Society of India, and the alumni associations of the IITs and IIMs.

There are less formal communities like the OpenCoffee Clubs and HeadStart Network in various cities. They get entrepreneurs, developers and investors together in informal meetings to chat, network and grow.

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