TiE Pune’s Nurture Accelerator Turns 10
If ideas without execution are just hallucinations, then for start-ups execution without nurturing is a shot in the dark? Too many mistakes? Too much time taken to learn from such mistakes? Money? Business, like a living being, needs to be nurtured. Just plain desire and passion though very powerful cannot always grow a business to success. Nurturing your business is vital
In 2013 TiE Pune launched its Nurture program to help start-ups accelerate their stages of growth to success. A program was designed by successful entrepreneurs who built it by their own experience of running their own businesses. A program that gives 39% success against the accepted norm of 10% worldwide. As we launch the tenth edition of our TiE Pune Nurture Accelerator Program, we speak to a few start-ups who tell us why they enrolled for this program and ask mentors, what’s in it for them? What are they getting out of helping start-ups become successful?
The Mentees – Why Have They Joined?
Disha Khandelwal, founder, 2WheelR – to expand networks and build connections for my business
I found out about this program and I think it is very interesting. It has a structure and different modules from which there is a lot to learn. The great thing is that you can learn from the gurus as well as peers at Nurture. I am looking at expanding my networks and building connections for my business.
Kunal Jadhav, co-founder, Fablette Motion – to learn how to run our business better
I came to know about TiE Pune’s Nurture through my friend’s father. And I expect that I will learn more about my business, which basically is advertising. Our business focuses more on the creativity of people, and our understanding of the workings of a business may not be up to the mark. So, I think this program can help us learn how to run our business better and how to scale up. Also, I want to build networks that I could possibly leverage when required.
Rupal Mehta: Founder & CEO, Med Marvel Technologies – to understand the domestic market, go-to-market strategy and funding.
I was a software engineer working in the US. I came back to India and happened to attend some medical conferences where I figured out the problem. And then devised a solution. This is our solution that can help a doctor to accurately pinpoint where the problem in the brain is. In cases where surgery is a solution to epilepsy, the margin of error to gauge where in the brain the surgery must be done is 50%!!
All this is fine, but I need to learn and understand the nuances of the domestic market. How to position our product, what should be our go-to-market strategy? Also, we need funding. I expect to learn what’s best for our business and how to go about raising money.
Ajit Patil, Founder, RIVOT – to learn and know if we are doing it right
We started our business five years ago, but I think our pace has been slow. This is because, in Tier 2 cities like Belagavi, it is not easy to get access to information that a start-up founder requires, be it domain expertise, (in my case about batteries, motors) or other such knowledge. In such cities, there is no availability of knowledge except accounting. So, we have to depend on the internet for information. But questions remain. Are we running our business with the right arsenal? This kind of info I think I can get from mentors at Nurture who have experience of a decade or more running their businesses in our domain. Also, I’d like to know if we need any course corrections? What are the compliances for EVs? And the big money question. We have put in all our money in this business. Is it the right decision? Or do we get outside funding? I am looking forward to learning about all such things that I am currently struggling with.
The Mentors? Why Are They Doing It?
Jitendra Tanna, founder, Eternus Solutions – giving money is easier than giving your time and sharing experience
The reason I help start-ups by sharing my experience and knowledge is that I do not want them to make the mistakes I did. As a software services company, we managed to get the Govt. as our client. But a few years down the line, I realized that we were not cut out for that kind of work. And to change course it took us three years. Three years of valuable time and money. When you become a successful business, you want to give back to society – the Maslow’s triangle? And I think giving money is the easiest thing to do. Giving your time and sharing your experiences and knowledge are far more expensive. If a start-up can avoid making the mistakes I made, I feel happy.
Advait Kurlekar, founder, Upohan – it’s not just a give-give. It’s also a get-get. I get so many fresh perspectives from start-ups
What Give? I feel it’s a two-way street. I share my experiences and knowledge and get to learn so many things from start-up founders. Furthermore, I love the way these young people think. They fascinate me. And I think it is important for any individual to be exposed to new ideas, ways of doing things. It keeps your mind fit. When I hear about using new technologies in fields that at least I could not even think of, I am simply amazed. I think my being a mentor is not a give-give. It’s a give and get. Many a time I get more than I give. So, I am grateful that TiE offers me this space where an old man shares his experience in exchange for a ride into the future. I have the start-up community to thank for it!
Darshana Jain, founder, Snapper Future Tech – I changed my marketing tools on account of my interaction with a start-up.
I am a mentor for two reasons. One is when I started my company this kind of service was simply not available. As a result there were many mistakes we made. If we had access to mentoring, then perhaps the course would have been different. The other reason I do mentor is that I get to learn so much from young entrepreneurs. It’s not as if a mentor only gives – of her experience and knowledge. I feel I have received much more than I have given whilst mentoring. In fact, I changed my marketing strategy because of my interactions and learnings from one mentee. A mentor too gets to learn a lot from mentees.