Today, the startup sector in India seems to be bleeding due to business disruptions caused by the Covid pandemic.
Subhashis Kar, Founder & CEO, Techbooze
Covid-19 is the biggest challenge that India’s nascent tech startup ecosystem has faced, says Subhashis Kar, founder and CEO of Techbooze Consultancy Services, an open forum, service-based enterprise that acts as a bridge between startups and investors, filling the information gap between the two sides. It facilitates 360-degree support for startup funding— analysing the current position of the startup, creating investment plans, pitch decks, go-to-market strategy, and a lot more. Kar talks to Sudhir Chowdhary on his venture’s strategy to support startups during this difficult phase.Excerpts:
What is your broad strategy to support startups? Techbooze Consultancy is an open forum and a service-based enterprise, headquartered in India with operations across the globe. Our mission is to improve the quality and standard of the startup ecosystem and provide professional services, by creating a forum based on working with trust. We are facilitating investment rounds for both established and newly emerging companies while offering 360-degree support for start-up funding—right from understanding the current stage of a startup, whether it needs seed round or angel funding; creating investment plans, pitch decks, go-to-market strategy, and a lot more.
Today, the startup sector in India seems to be bleeding due to business disruptions caused by the Covid pandemic. We have been witnessing a massive decline in revenues. Most of the startups have halted operations temporarily or permanently, according to a recent survey by Nasscom.
In these trying times, Techbooze is investing heavily in the Indian startup ecosystem post the recent capital raise by its global investors. With the latest funding, we will be disrupting the traditional functioning of the startups. We are investing in startups from any domain—there is no specific inclination towards a vertical, the only criterion is its business model —profitability and scalability. Some good seed-stage startups are out there who lack the right guidance and resources.
What kind of startups are you supporting during this pandemic situation? We operate across 53 nations. We have been successful in funding over 150 startups across the globe. During the pandemic situation, we are not only nurturing startups in India but across the world as well. We are supporting them in all of their stages while offering 360-degree support for startup funding. The latest funding is for Byju’s, Playco, Ynsect and others.
The government is putting a lot of emphasis on startups and localised innovation today. How do you see this? When you have support from the government, it becomes easier for investors to pitch in. It brings massive trust and builds confidence in the ecosystem. But when we see the other part, say regulations or compliance, it acts as a hindrance resulting in businesses suffering exponentially. With support, it becomes easy for the investors to invest resulting in a flourishing business. The Startup India campaign and easing of investment norms by RBI recently has opened up avenues for global investors to invest in India.
What kinds of challenges are being faced by tech startups in India? When it comes to challenges, the list seems to be endless but the big challenges are—financial resources/investment prospects, regulations, supporting infrastructure, market awareness, inadequacy of the talent pool, right mentor, lack of marketing strategies.