Speaker Paresh Gupta Tells You About Today’s Event ‘How To Get Funding For Startup’
- IWB Post
- July 15, 2015
Are you all set to attend today’s event hosted by Entrepreneur Cafe along with Jaipur Women Blog and Headstart called ‘How To Get Funding For Your Startup – Event For Women Entrepreneurs’? It is a free to attend event for every Jaipur women who –
– have brilliant business ideas that need sponsoring.
– are aspiring entrepreneurs.
– are established entrepreneurs who have mentoring suggestions for budding entrepreneurs.
– are students seeking guidance.
The speaker is Jaipur based Chartered Accountant Paresh Gupta – CEO MyCareerArchitects, Co-Founder Neos Angels, Meetbigwig, country lead for Headstart Network. He will be speaking on how women entrepreneurs can get funds to start or expand their business.
But before you listen to this wizard live, how about a quick rendezvous with him? Below is our small interview with Paresh talking about today’s event and theory of fundraising:
JWB: What the event is going to be about?
Paresh Gupta: The event is planned to be an exclusive event to promote women entrepreneurship and helping them with the basic ideas of financing, funding and starting their own business. The idea would also be to make them aware of the entire startup ecosystem available around them.
JWB: How do you decide whether a person is capable of starting a business?
Paresh Gupta: My first take is on the enthusiasm and energy. If a person has the zeal to do something different, he/she is going to rock sooner or later. From a generic standpoint I feel entrepreneurship is not only a career choice but a complete lifestyle. People who are different, radical, think out of the box and are clearly focused on what they wish to achieve are my favorites. To start a business you should be willing to face criticism, fight, be “sensibly greedy” and willing to put on multiple hats at the same time.
JWB: Do you think, to get funding women need to have a business with unique idea?
Paresh Gupta: I don’t believe funding is based on how unique the idea is. Most businesses are either inspired by something or an improvisation of something already done. Funding is not based on ideas but on the execution. I feel even if the idea is an old one, if it is executed well and differently it would still attract a lot of funding. Also, women are better when it comes to creativity and ideas so that should not be a problem anyway.
JWB: Talk about market opportunities for women?
Paresh Gupta: Teams with female founders always stand out in most forums. I have seen females doing amazingly well in design based businesses or those involving HR relations. They are superb at understanding people, hospitality, designing, finance, jewelry, education and much more. I always feel it is easier for females to get the first client meeting as compared to males and this is the biggest opportunity, what can you ask for! To be a successful, men and women should come together to make a complete team rather than working in isolation.
JWB: How important is it for new entrepreneurs to understand the heavy and difficult equity and investment terms?
Paresh Gupta: Bankers like me have this serious problem of using jargons to maintain our value! To be honest jargons are fairly simple if understood properly. For e.g. what we call “angel fund” is nothing but the first money that somebody gives you to start your business or a “bear hug” is nothing but a support given by an investor when your business is in trouble. Business is definitely about money so everyone should know it; be it a housewife or a career woman or any entrepreneur. It is much simpler than learning php, html5 and java programming, leaving the rest for experts like us.
JWB: How prepared does the audience come for your workshop ‘How To Get Funding For Your Startup’?
Paresh Gupta: I am amazed at the knowledge people have in terms of what is happening in the market related to funding etc but unfortunately most of it is half baked and not structured. It sometimes takes time to explain the concepts because half knowledge is always dangerous. The process of unlearning is longer than learning new things but that’s a good challenge to have.
JWB: If women are applying for a bank loan and it’s all easy for them, why do they need to attend the event?
Paresh Gupta: I wish it was all easy. Most bank loans would require mortgage and guarantees and if you were that rich already why would you need a loan anyway! Also it is not always appropriate to get loan funding as you may not have steady income flow to repay the debt. Startup funding is about all forms of finance and also how to use it efficiently along with returns to stakeholders. If it was this simple we would not have spent so many years learning our stuff.
JWB: How big is the issue of funding, especially in the case of women entrepreneurs?
Paresh Gupta: The issue is as big as any venture funding. I can’t distinguish between funding for women or men. No investor would pump in money looking at the gender of the business owner. I do feel government support is available but that is not for everyone and its quantum is too low for and decent size business. Funding is about business returns and what you can generate out of that investment. Investors are only money biased, not gender biased.
JWB: Does Jaipur have good investors?
Paresh Gupta: My answer is both yes and no. In terms of money, I do feel we have lot of rich investors who are keen to invest and they have all the means to invest. On the flip side, most investors in Jaipur come from family business background with a traditional mindset. Although, things are changing; but yes they have to come a long way to catch up with world standards. I am glad atleast there are now 2-3 good investor networks in Jaipur and the scene is heating up.
JWB: Will any existing investors participate in the round?
Paresh Gupta: Yes, I represent Neos Angels and Mentors Network and my colleagues would also be there in the event. We look at early stage startups and support them in raising funds, mentorship and guidance and work very closely with early stage startups to bring them to a minimum viable business model.
JWB: Share any successful story of a woman entrepreneur?
Paresh Gupta: There are lots of them. If you are asking for Jaipur women entrepreneurs, let’s start with Rachna Ghiya who is hosting this event to people like Alka Batra who owns Aegis HR consulting to Sheenu Jhanwar who runs Apex Hospital or Aparna Bhatnagar working on Green n Goods or Priyanka Chugh who owns EkTaara fashion brand or Kritika Parwal who owns Tomato Co. The list is endless and every entrepreneur is a story in itself which is always awesome. If you listen to their stories the way I have, you would be inspired to start something tomorrow.
Wow, we are excited to meet these women entrepreneurs from Jaipur. Make sure to attend the event today and learn about entrepreneurship from these experts. To book your seat, register here. There is NO FEE applicable and any woman can attend it!
Time: 4:30-5:30 pm
Venue: Red Fox Hotel, Jaipur
For more information, contact Rachna Ghiya at +91-9829494287 or firstname.lastname@example.org. She is City Mayor – Jaipur, EntrepreneurCafe.org.