NOVEMBER 20199existence, a startup usually requires the right set of people to validate its business model and help it devise an appropriate market strategy. Considering that every business is different from the other, it then becomes imperative to enlist the aid of the correct business advisory service and find experienced organizations to help promote, facilitate, and execute its investments. However, being a part of an integrated startup ecosystem should ideally mean much more than simply being advised on strategy and fundraising. As I see it, the success of any nascent startup would largely depend on the collaborations it makes, be it with other entrepreneurs, investors, partners, advisors or simply fellow enthusiasts. Having a shared workspace, or at least a place to interact with a large number of people with diverse experiences from within the same broad sector, would help any startup gain a sense of the bigger picture and a whole new perspective. The ability to have this space is something I believe would take away the loneliness from the uphill climb of founding a new venture. All startup founders must initially focus on three imperatives: product, process, and people. Now, each of these elements can be enriched if they are developed within a community, or a startup activity hub, replete with experienced people from different walks of life, having variegated insights into the entire process. No flower can blossom in a vacuum, and a similar statement can be said to apply to a new business. To thrive, it must regularly interact with other startups at varying stages of growth, that have gone through a similar journey themselves. Likewise, it is essential to observe the processes of incubation and acceleration that is likely to occur within such an ecosystem to glean knowledge and understanding from all of them.While all of this might suggest that startups can only flourish in a physical workspace that accommodates a community of innovators and proven leaders, I do believe that the online community also has a crucial role to play. It may not always be feasible for interested entrepreneurs to access a physical location and reach out to the experts. For them, it would be particularly useful to have a community forum ready to walk them through their doubts, and guide them on all aspects of founding a startup. This would potentially involve online databases to find and reach out to investors that fit their business model, and mentors who already have relevant experience in the space. For the Indian startup community to soar to new heights, I believe we are in desperate need of an integrated ecosystem that will help startups find all the answers in the same place, instead of cluelessly hurtling in the dark. Nothing great is ever born of isolation, and banding together might be the best option for Indian startups to reach the next level. After all, as any Game of Thrones fan would know, "the lone wolf dies but the pack survives", and this pack could definitely be poised on the brink of success, if it plays its cards right! All startup founders must initially focus on three imperatives: product, process, and peopleVinay Nair, Managing Partner
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