Startup Roundup March 7, 2016

What to Do Before Launching a Startup – Fortune

A startup’s journey from initial idea to successful execution is more often than not a long and circuitous path. And when something happens that moves a startup from business idea to successful business reality—when a startup ceases to be a startup and finds a repeatable and scalable business model (to paraphrase serial entrepreneur Steve Blank)—it usually occurs after repeated trial and error of building a product, service, or solution that solves a problem. 


This Startup Failed In Year One And Is Now Doing Over $6M In Sales Per Year – Forbes

On January 19th Kyle Porter, CEO of SalesLoft, a sales technology startup out of Atlanta came to chat with the Building The Sales Machine community here in New York City about the challenges of building company as it relates to culture, values and building the sales organization. Kyle and the SalesLoft story is compelling because the business was pretty much a failure in the first year. But now, they are an 80 person company and grew sales by 1000% in 2015. Moreover, they went from $1M to $6M run rate in the past 5 quarters and was rated the #1 Best Place to Work in Atlanta. 


Tech Mahindra to launch startup garage for in-house entrepreneurs – The Economic Times

In a first for a corporate entity, Tech MahindraBSE -2.10 % is all set to create a ‘startup garage’ for its in-house entrepreneurs.

“Within our set-up, we have a number of companies that is working already. But we are about to launch a garage soon …ours will be the first corporate garage for the startups,” TechM chief strategy officer and head of the ‘growth factories’ initiative Jagdish Mitra told PTI recently.


25 quotes from Indian startup journeys

From unicorns to the Union Budget, witness the memorable journey of Indian entrepreneurship in these excerpts and stories! StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week (see the previous post here). Share these 25 gems and insights from the week of February 28 – March 5 with your colleagues and networks, and check back to the original articles for more insights! 


How A Hudson Valley Startup Helps Farmers Flourish And Workers Eat Their Veggies – Forbes

When Donna Williams, a former investment banker, got laid off from a food industry startup after the financial crisis, she figured it was time to start her own company. “I started to fish around for some ideas, and I was now very educated in the food space,” she told me.

In the meantime, in 2010, Williams landed a consulting project for the Greene County Industrial Development Agency in New York’s Hudson Valley to assess the feasibility of starting an  incubator program for new agricultural ventures. As Williams dug into the problems facing the region’s many small farmers, she soon saw an entrepreneurial  opportunity of her own.

“What I walked away with is that there is a huge demand for local food and a lot of people that want to start farming. But in my opinion there wasn’t a scalable distribution system for small farms,” said Williams, 52. 


Todd Sampson invests in social media start-up Visual Amplifiers

Qantas and Fairfax Media director Todd Sampson plans to financially back a new tech start-up after taking on his third board role with a company that matches high-profile consumer brands with Instagram “influencers”.

Mr Sampson, the non-executive chairman of advertising agency Leo Burnett, said it will be an easy decision to invest some of his own money in Visual Amplifiers (Vamp) given his enthusiasm for a product that disrupts the traditional advertising model.

“I love the changes that are happening in the digital space, I love the way its knocking our structures down and I want to be a part of that,” Mr Sampson said in an interview. “I will certainly be a shareholder. If you believe in something it’s important to be a part of it.” 


Does the Indian start-up ecosystem prevent women from turning entrepreneurs? | Latest News & Updates at Daily News & Analysis

With just nine per cent of India’s over 4,200 start-ups being founded by women, is there an inherent gender bias at play? In the run-up to International Women’s Day, Gargi Gupta examines the societal and economical hurdles that stand in the way of women becoming entrepreneurs. 


Cybercriminals eye Indian startups to steal consumer data: BugsBounty.com – The Economic Times

Cybercriminals are looking to exploit vulnerabilities in the IT infrastructure of Indian startups to steal customer data, including passwords and financial details, a report said.

According to a report by UK-based data security firm BugsBounty.com, 72 out of the 100 major startups it analysed were “negligent” in implementing and maintaining reasonable security practices and procedures.


Startups Are Personal Part V: No Entrepreneur Is An Island – Forbes

As we continue our lessons learned series (co-authored by me and Traklight’s Mike Willee), we move from cost-cutting measures to mentoring, an area that shouldn’t skimp or skip. I recently attended an event in Vancouver, Canada, that honored mentors for women entrepreneurs. Upon chatting with the women business owners at my table, I realized that the willingness to seek help was a common theme.

When you start your business, you’re full of ideas and ambitions about what you want to do with your company. But if you’re a first-time entrepreneur, you may be short on real world experience when it comes to running a business. Given how many pitfalls there are in the business world, it can be a lifesaver to have a mentor who listens to your ideas and offers guidance. Thanks to that person’s wisdom and experience, you can potentially avoid mistakes. 


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