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Focusing On Long-term Objectives Critical To Prepare For Post-COVID World

Given the massive changes that happened in the entrepreneurial ecosystem, founders of few major startups opine major strategic changes that need to be made in order to sustain and win in the post-COVID world.

Vivek Tiwari, Founder & CEO, Medikabazaar has said about the challenges that entrepreneurs are facing: “Raising capital in today’s time is very difficult. What investors are looking at is more in the line of long-term objectives – whether businesses can sustain themselves.” Undeniably, the temporary focus has shifted to sustain in this pandemic period and look for the long term of prospects.   

Sharing his advice on what entrepreneur needs to do, Aditya Prakash Gupta, Partner – GEMs – Today, said, “One of the advices I am giving is to reassess your business. It is only with the best of the best investors is going forward. Don’t spend any penny that is essential for preserving your growth.” On a similar note, Radhesh Kanumary, Managing Partner – Arka Venture Labs, who acknowledged that the last six months their company has been on an accelerated phase, stated, “First advice we have given to all portfolio companies is to ensure that you have at least nine months of a runaway.” 

Also, for the start-ups who have the potential to scale their businesses need to look for funding. Monika Malhotra, MD, MBD Group, who has been in traditional publishing for more than 60 years and forayed into digital space was since 2007, shared, “We will be going for a first round of funding in twelve months because we will be needing the scaling up.” In fact, she has announced, “We are launching our app on 14th of September, which has content for all grades, classes, boards.” Malhotra added that the app is going to be available at affordable prices. Reportedly, her businesses were the first to bring augmented reality in education space for the K-12 group.   

Mahendra Swarup, Founder & MD, Venture Gurukool said, “We as a group of venture capitalists or mentors should have the ability to change the founders but not change the basic premise of the business which we have invested. He added, “We as a group of venture capitalists or mentors should have the ability to change the founders but not change the basic premise of the business which we have invested. “It is not so much about winning, but it is about keeping yourself solvent. If you are keeping yourself solvent, you are winning,” Swarup said.   

The above speakers were speaking at the recently held virtual sixth Young Entrepreneurs Summit & Awards 2020 by BW Businessworld.  

Vivek Tiwari, Founder & CEO, Medikabazaar has said about the challenges that entrepreneurs are facing: “Raising capital in today’s time is very difficult. What investors are looking at is more in the line of long-term objectives – whether businesses can sustain themselves.” Undeniably, the temporary focus has shifted to sustain in this pandemic period and look for the long term of prospects.   

Sharing his advice on what entrepreneur needs to do, Aditya Prakash Gupta, Partner – GEMs – Today, said, “One of the advice I am giving is to reassess your business. It is only with the best of the best investors is going forward. Don’t spend any penny that is essential for preserving your growth.” On a similar note, Radhesh Kanumary, Managing Partner – Arka Venture Labs, who acknowledged that the last six months their company has been on an accelerated phase, stated, “First advice we have given to all portfolio companies is to ensure that you have at least nine months of a runaway.” 

Also, for the start-ups who have the potential to scale their businesses need to look for funding. Monika Malhotra, MD, MBD Group, who has been in traditional publishing for more than 60 years and forayed into digital space was since 2007, shared, “We will be going for a first round of funding in twelve months because we will be needing the scaling up.” In fact, she has announced, “We are launching our app on 14th of September, which has content for all grades, classes, boards.” Malhotra added that the app is going to be available at affordable prices. Reportedly, her businesses were the first to bring augmented reality in education space for the K-12 group.   

Mahendra Swarup, Founder & MD, Venture Gurukool said, “We as a group of venture capitalists or mentors should have the ability to change the founders but not change the basic premise of the business which we have invested. He added, “We as a group of venture capitalists or mentors should have the ability to change the founders but not change the basic premise of the business which we have invested. “It is not so much about winning, but it is about keeping yourself solvent. If you are keeping yourself solvent, you are winning,” Swarup said.   

The above speakers were speaking at the recently held virtual sixth Young Entrepreneurs Summit & Awards 2020 by BW Businessworld.  



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