I had a lot of fun attending Startup weekend in Bangalore this weekend. This is my second time attending it and it has just gotten better. Quick note : the COO of Startup weekend AdamStelle was present at the event, which did boost the moral of the teams. Ideas where generally thoroughly polished and the enthusiasm and energy was better than last time around. I guess that is partly due to the venue not having some of the fun amenities that it had last time.
I constantly keep telling most entrepreneurs two generic rules.
- Solve a problem , don’t build a product based on an idea : Sometimes ideas are great, but if they are not solutions they might not have a market. Water beds were great ideas , but their market is all buy dead.
- Work on building a business ,not just a start up : This one is fairly simple. Very few startups will ever have the ability to burn through cash for years before going positive in their books. So you don’t want to fall into that trap. If you plan to build a startup , build it with a business model in mind. Revenues will only raise your validations. It also validates that you have build a solution to a problem which others are ready to pay for.
Some startups I liked & had some great interaction with :
Reporter Source : Tried to solve a real pain point, presentation was great with people actually validation the need. Yes revenue generation would be hard but not impossible. They won third price.
Farm to Mom : These guys had an interesting idea of creating an eBay like site for consumers to directly engage with farmers. There was another team Smart Farms which was trying to do something similar but was more of a middle man. The biggest challenge in perishable goods is that they rot, literally. So any startup entering this market would actually need to build an efficient & fast supply chain where food can also be stored to prevent rotting.
JustCodeIt : An interesting idea , which has the potential to disrupt the training & recruitment sector. Had a pretty long chat with a few guys from the team. Having worked in an e-learning startup sometime back I had followed the sector closely.
TourBox : Brilliant demo and execution.
Will be attending SW Delhi next which I would probably love more as it’s a mobile specific event and I <3 Mobile .