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President of Mumbai Angels, Friend of Entrepreneurs: Anil Joshi

By on Jan 2, 2014 in Startup Gang | 13 comments

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Anil JoshiIf you are a startup in India, you have certainly heard of Mumbai Angels. And if you have heard of Mumbai Angels, you have certainly heard of its president Anil Joshi. Anil is a familiar figure in entrepreneurship events, conferences, forums, ecells, and the like. As the operations head of Mumbai Angels, he supervises the screening of well over 100 business plans a month. I have known Anil for 3 years now and am envious of his unending store of energy. At the inception of StartUp Gang, Anil Joshi shared his thoughts about his work and about the startup ecosystem.

The Real Challenge Is Identifying Good Ventures to Invest In
If you have identified the right ventures, all the other pieces fall into place. And that is a challenge. The selection process to go from a thousand business plans in a year to a handful that Mumbai Angels’ members actually fund requires a lot of effort.

I Have Witnessed the Startup Space Expanding in India
So many incubators and accelerators have sprung up in India that today aspiring entrepreneurs have a good shot at raising money and getting supported. The environment has turned to be quite conducive to setting up your own enterprise in India. This has substantially increased the size of the deal pipe for us at Mumbai Angels, but the real big positive is for the people who are turning entrepreneurs today.

There Could Be a Serious Mismatch Between Expectations and Outcomes in the Ecosystem
Many participants have jumped into the startup gold rush. We have seen incubators, accelerators, and other similar enterprises jumping into the fray and deploying their efforts and resources. If things go well and their investments bear fruit, everyone will be happy. But if that does not happen, the expectation mismatch may cause several shops to shut.

Successful Entrepreneurs Articulate the Problem and the Market for their Solution
Having seen such a huge volume of entrepreneurs applying for funding at Mumbai Angels, I have started developing a sense of what seems to work. The entrepreneurs who are most likely to succeed are the ones that basically can clearly articulate:

  1. the problem or the gap that they are trying to address.
  2. the market for their solution
  3. their strength in executing the proposed business plan.

If the entrepreneur can do that with clarity and passion, it is a good sign.

Several Winners in the Startup Space
There are many interesting stories of great outcomes in the startup space. Some of them are: Inmobi, Apalya, Reverse Logistics, Myntra, and Serial Innovation. In addition there is a lot of good news arising at Mumbai Angels that may not yet be in the public domain. At Mumbai Angels we are pretty positive about early stage entrepreneurship, and keenly look forward to many more successes.

Anil Joshi is the President of Mumbai Angels (Twitter), and can be reached on LinkedIn or Twitter.

13 Comments

  1. Raj Kapoor

    September 3, 2013

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    I know Mr Anil for last one year. I am also witnessed of his tiredless energy, understanding about start-ups and business development / relation management skills. Salute sir…

    • Ajeet Khurana

      September 8, 2013

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      Agreed, Raj-ji. Of course, I look forward to sharing your background and contribution to the small business space with my community here. I will contact you later this month about featuring you on StartUpGang. :)

    • Ajeet Khurana

      September 4, 2013

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      The day is not far Sandeep. After I introduce the greatest entrepreneurship gurus to you, I will start features startups. That is where you come in. Make sure to keep reading and we will get you on board :)

  2. S. Puri

    September 4, 2013

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    As you have said, many participants have indeed jumped into the startup gold rush. Please enlist certain parameters for budding entrepreneurs to help them select the right mentor/ investor, just like you have enlisted what you look for in the former category. It would be interesting to discuss the other side of the story as well.

    • Ajit Singh

      September 15, 2013

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      @S. Puri As far as I understand entrepreneurship, whenever you have to chose a mentor or investor for your entrepreneur project, try to find someone who can understand the importance of your project i.e. he should be able to understand that what does your project mean to you and how much it is important to you…
      He should not be someone who wants to invest in your project only for profit and after some time he starts asking you only about the profit or things related to it..
      I understand that if he is investing in project then he would like to earn profit but he should also be able to visualize and understand the aim that you want to achieve…

  3. Armeet Narang

    September 16, 2013

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    What you’ve said about Mumbai Angels and about Mr. Anil Joshi is brilliant. Though, what I feel is that you cannot only judge a start up by the amount of returns or the fruits they bear. Yes, that is definitely a plus point, but not all businesses are that lucky. When anybody starts up a business, in his/her mind the thought is of seizing the opportunity. Their primary motive may not match the motive of the public for now, but later on the public may realize the importance of such a business. Also I just have one question- On what parameters do you judge a business plan excluding its feasibility and viability?

  4. Sayan Ganguly

    September 18, 2013

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    What I believe is, a start-up should never limit its thinking to profitability, feasibility and other materialistic domains regarding its own model, but should focus on the reach and the impact it is able to make on the market. A start-up should always give first priority to the blessings of its own stakeholders, whose first representatives are its customers and beneficiaries, and even one blessing should be considered priceless. Businesses are developed seeing the requirements of the customer, because whatever business we see, is established to give a service to the customer/consumer. It is just like, developing a circuitry. First we put the load, then the wires, resistors and other elements, and finally we put the source. Here the source is the start-up, wires and resistors are the entire distribution system and the load is the consumer. All the three need to be suitable for all. I cannot connect a DC system for a synchronous generator. So, impact is something which matters, and then, every figure of the impact represents the intensity. So, I send this message to the investors: Please do involve something called “nobility of the idea”, and the “engineered thought-process to execute the same” alongwith the conventional parameters, because both clusters of parameters speak for each other.

  5. Mudita Sonar

    September 18, 2013

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    Internet, with its massive outreach, has enabled out-of-the-box thinkers to start something of their own and Mr. Anil Joshi rightly gives real life examples of popular brands like Myntra to further his point. Those who are still a little dubious about putting their capital at stake will be revived by his plan of action. His focus on the need to recognize the market is very noteworthy as most of the startups forget to take note of this basic point in their zeal to become an overnight internet entrepreneur.

  6. Priyank Agarwal

    November 3, 2013

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    Where have you been Mr. Anil Joshi !!!!!! It’s people like you that young entrepreneurs need. Its really great that you are welcoming each & every B-plan. I will be surely applying for your support after my college days are over.
    Thank You StartUp Gang for sharing such information.

  7. Rajvi Mehta

    December 7, 2013

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    its very nice to see experienced gurus ,helps and builds a good business world around and in country, forming a intelligent scenario , and giving young people opportunities to expose their thoughts and ideas, small buds grows in to a rose, and spreads around a fragrance.

  8. David

    February 27, 2014

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    Hi, How can I share my idea and how can I get financial assistance if you find the business plan appropriate for opportunities…also how can I trust that ideas shared with you won’t be disclosed to others if it is not selected

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