Internet Is Definitely Here To Stay

Amit Patni

Co-founder and Chairman,
Nirvana Venture

When technologies like 3G and 4G come in, it takes few years to really make a mark in the market. This is one of the challenges that need to be addressed. The other challenge is that India is a very fragmented market. Lot of E-Commerce companies have started in the recent past and we will see some of the companies being merged into it or acquiring it. Hence, we have to back the right people because at the end of the day we need to build teams which will make global products. It is very important that we have a global reach.

Advice to Entrepreneurs
Entrepreneurs today, lack the right VC backing. Getting the funds is one aspect but getting the right VC who understands the state and advises correctly is more important. Entrepreneurs have to understand that they have to build the right business model which is very clear in terms how they are going to play it in the next couple of years. They often think of a short term approach which does not help. So, it is important to look at one’s long term goal and how to build valuable products.

My advice to the entrepreneurs would be to have a strong team from the very beginning. They should be focused on the business plan they present to the VC because they often try doing multiple things which is not correct. Clarity and focus plays an important role here.

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