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Evaluating startups : An Employee Perspective

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Ankur Gupta has experience working at three startups over the past 13 years: 1) Egurucool (1999-2000) where he learned about startups and venture capital as a campus sales representative. 2) Vegayan Systems (2006-2008) which won the TiE Canaan Entrepreneurial award in 2006 and the Intel India Pioneer Challenge in 2007, and was funded by DFJ and an angel investor. 3) Thinklabs (2008-2010) which was funded by SeedFund and was on the verge of raising a Series A round of $3-5 million. He has also helped organize startup events in India like Proto.in Mumbai Edition and

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Startup ExperienceAnkur GuptaEgurucool (1999-2000)Campus Sales Representative (Temp Summer Job while at college)Learned about startups, VC etc …Vegayan Systems (2006-2008)TiE Canaan Entrepreneurial Winner 2006Intel India Pioneer Challenge Winner 2007Funded by DFJ and Angel Investor RakeshMathurThinklabs (2008-2010)Funded By SeedFundOn verge of raising Series A for 3-5 Million USD.Startup Ecosystem (2006-2011)Helped organize Proto.in Mumbai Edition,Organized CodeCamp Mumbai,Organized Barcamp Mumbai 2.Reading blogs with focus on Indian Startup Ecosystem since college days.
Different ThingsMotivate Different People At Different Points in Time
What Matters to you ?1. $$$,2. Public praise or recognition,3. Impact of your work on society,4. Respect from your friends, family for where you are employed ?,5. Working on a difficult problem / domain, 6. Respect as viable part of organization,7. Amazing Mentor whom you admire or an awesome team to work with,8. Comfortable surroundings aka office space and perks provided,9. Large role / responsibility,10. Your weird thoughts here …………
Who or What is a Startup ?Is every new business a startup?Do service companies qualify as startups ?Do new business with low entry level barrier qualify as startup ?My DefinitionA recently (2-3 years) founded business with 1-100 employees that intrinsically excites you and can have a positive impact on lives of millions or potentially change the market dynamics is a startup.
Stages of a StartupExecutionInvestment / VC Rounds$$$Employee Headcount
ExecutionIdea Stage aka Business plan in placeBusiness Registration or Legal entity in placeEnd Product ReadyEarly Customer Execution Sustainable growth quarter on quarter
Investment / VC Rounds Seed InvestmentEarly Stage InvestmentSeries A, B, C, DIPO
$$$Burn Rate > RevenueBurn Rate == RevenueBurn Rate < Revenue
Employee Headcount1-1010-3030-100100-300300+
Must Ask QuestionsSalaryDo you have any revenue at this point of time ?Are you break even ? (If answer to the above two questions are in negative. )Your funding would last for how many months ?Can I expect to get salary on time ?ESOPsDoes your ESOP Plan meet Regulatory compliance ?What’s the size of the ESOP Pool ? How much am I getting and when will it be fully vested ?FoundersWhy did you start this company ? What do you want to achieve ?
Heart vs. MindFollow you heart but apply your mind to understand what it’s that you are in for ?Passion doesn’t understand logic sometimes,In most startups success doesn’t come despite the best of intentions, hard work and efforts,They say it takes approx 10 years for a Indian startup to really make it BIG. Keeping your Heart and Mind aligned to hang into the ride.
Startups Can beRewardingFunThrillingLearning experienceDo your research before else it can bePain RegretLost Time
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Evaluating startups : An Employee Perspective

  • 1. Startup ExperienceAnkur GuptaEgurucool (1999-2000)Campus Sales Representative (Temp Summer Job while at college)Learned about startups, VC etc …Vegayan Systems (2006-2008)TiE Canaan Entrepreneurial Winner 2006Intel India Pioneer Challenge Winner 2007Funded by DFJ and Angel Investor RakeshMathurThinklabs (2008-2010)Funded By SeedFundOn verge of raising Series A for 3-5 Million USD.Startup Ecosystem (2006-2011)Helped organize Proto.in Mumbai Edition,Organized CodeCamp Mumbai,Organized Barcamp Mumbai 2.Reading blogs with focus on Indian Startup Ecosystem since college days.
  • 2. Different ThingsMotivate Different People At Different Points in Time
  • 3. What Matters to you ?1. $$$,2. Public praise or recognition,3. Impact of your work on society,4. Respect from your friends, family for where you are employed ?,5. Working on a difficult problem / domain, 6. Respect as viable part of organization,7. Amazing Mentor whom you admire or an awesome team to work with,8. Comfortable surroundings aka office space and perks provided,9. Large role / responsibility,10. Your weird thoughts here …………
  • 4. Who or What is a Startup ?Is every new business a startup?Do service companies qualify as startups ?Do new business with low entry level barrier qualify as startup ?My DefinitionA recently (2-3 years) founded business with 1-100 employees that intrinsically excites you and can have a positive impact on lives of millions or potentially change the market dynamics is a startup.
  • 5. Stages of a StartupExecutionInvestment / VC Rounds$$$Employee Headcount
  • 6. ExecutionIdea Stage aka Business plan in placeBusiness Registration or Legal entity in placeEnd Product ReadyEarly Customer Execution Sustainable growth quarter on quarter
  • 7. Investment / VC Rounds Seed InvestmentEarly Stage InvestmentSeries A, B, C, DIPO
  • 8. $$$Burn Rate > RevenueBurn Rate == RevenueBurn Rate < Revenue
  • 10. Must Ask QuestionsSalaryDo you have any revenue at this point of time ?Are you break even ? (If answer to the above two questions are in negative. )Your funding would last for how many months ?Can I expect to get salary on time ?ESOPsDoes your ESOP Plan meet Regulatory compliance ?What’s the size of the ESOP Pool ? How much am I getting and when will it be fully vested ?FoundersWhy did you start this company ? What do you want to achieve ?
  • 11. Heart vs. MindFollow you heart but apply your mind to understand what it’s that you are in for ?Passion doesn’t understand logic sometimes,In most startups success doesn’t come despite the best of intentions, hard work and efforts,They say it takes approx 10 years for a Indian startup to really make it BIG. Keeping your Heart and Mind aligned to hang into the ride.
  • 12. Startups Can beRewardingFunThrillingLearning experienceDo your research before else it can bePain RegretLost Time