Successful Startups and Established Entrepreneurs Share their Experience
Silicon Valley based Spinta Global Accelerator successfully launched its operations in Singapore on September 7. It was an evening of lively discussions followed by networking with an audience of 80 plus people from the entrepreneurial ecosystem including start-ups, successful entrepreneurs, mentors and investors. The Singapore launch, which was held at The Hub, was the last in the series of SpintaRise Roadshow events over the last one month in the Asia region with successful chapter launches in the cities of Bangalore & Mumbai in India and Bangkok.
The event was kicked off by Ketki Sen, partner & co-founder of Spinta, based in Singapore: “Technology is democratizing the world, putting tools of innovation and creation in the hands of the many. Fortune today favors those who can innovate and create new products, services, and business models. The reality also is that nine out of ten start-ups fail. With the benefit of experience to date, what can be done to change that statistic to a more winning one…For more in the entrepreneurial ecosystem and one that will benefit society at large.
Today’s evening is to have exactly that discussion. What is the start-up experience to date, what are the gaps and how can an accelerator like Spinta help improve the odds of success and help take more of your ideas to fruition. IF it takes a village to raise a child, it takes an entrepreneurial ecosystem to raise a business.”
The evening saw some inspirational speeches from esteemed speakers like Suresh V Shankar, Founder Crayon Data (a successful entrepreneur, a disruptive thinker, and a pioneer in the field of analytics and big data), Charlie Ang (successful entrepreneur and consultant in the space of innovation) and Zafar Anjum (author, Startup Capitals). These discussions brought out the resilience required for a start-up akin to bamboo trees to see the light of day, how the entrepreneurial eco-system is evolving and needs to evolve further to channelize that resilience into more success stories.
Prashant Parekh (CEO and Founder of Spinta), a seasoned entrepreneur based in Silicon Valley, presented how Spinta’s unique Katalyst™ process, which was unveiled at an earlier event in Santa Clara, US, helps plug in the gaps in the entrepreneurial system. He walked the audience through the 3 steps of this Katalyst™ process viz Kindle: evaluates and nurtures the initial spark, SpeedUp: refines, validates and finalizes a ‘Minimal Viable Product’, and Breakthrough: wins customers, establishes credibility and creates market value. The model acts like a force multiplier, providing 360 degree assistance to pilot-test their Minimum Viable Product with real-world customers.
Prashant Parekh, Founder of Spinta Global Accelerator explained, “We are here to offer comprehensive support to deserving start-ups to help build successful businesses out of their nascent yet bright business ideas. We believe that a structured approach is not suited for entrepreneurship, which is in itself an unstructured phenomenon. Entrepreneurship can’t be taught by putting people into a classroom for three months. Also, each startup has unique needs and hence require one-on-one mentorship as well as a different mentor at different phases of their life cycle, sometimes someone who is a marketing expert and sometime who is a product management expert or sometimes who is an expert in particular technology. The biggest value proposition that we bring to the table is to provide creation of Minimum Viable Product (MVP). Accelerated creation of MVP is critical for minimizing risks for any startup and contributes tremendously towards a path to success. It is a non-trivial task. Also there is a shortage of technical resources with product creation mindset, skill and we fill that gap by creating MVP. We have a 400 people technology team in India with expertise in mobility, analytics well as backend databases and portals and cloud computing. We can provide product management help as well as program and project management. This is a crucial need for many startups and no accelerator that we know of provides this help, We have already successfully helped a number of companies accelerated by us build their MVP”.
Ketki Sen, Founder, Spinta Singapore presented Peerbuds, a company successfully accelerated by Spinta from the ideation (Kindle) stage with an online learning platform that democratizes & uberizes the education marketplace.
Two selected startups named Finzipp (with a Roboadvisory solution) and MindBodyAdvisor (an online marketplace for wellness) were given a platform to express their business ideas. The event was also attended by Spinta’s mentors based in Singapore, Sanchit Sanga, Vishwesh Iyer and Nisha Mullati and by Miten Mehta, Founder, Spinta based in India.
Miten Mehta, Co-Founder of Spinta Global Accelerator said “The effect we have on others is the most valuable currency there is – and will ever be. And so entrepreneurs need to be passionate about their start-up beyond technology or business model or value creation, to a level higher where making a positive difference becomes the very essence and purpose of life and the start-up as the platform to achieve it. As Spinta Global Mentor Board member we always strive to instill this spirit in our entrepreneurs and start-ups”
Founded in March 2015, Spinta Global Accelerator is a boutique startup accelerator based out of Silicon Valley, USA. Apart from Silicon Valley, it is also present at Columbia, Maryland (US), Pune and Nagpur (India), Singapore, and Bangkok (Thailand). We aim to help experienced as well as budding entrepreneurs to enhance their business ideas with our domain expertise, resources and technological prowess. In our partnership with talented and dedicated entrepreneurs, we become the force multiplier in developing their innovative ideas for market success.
Have an awesome business idea to showcase in the event? Mail us at startup@Spintaccel.com
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