by Gandharv S Bakshi on Tuesday, March 5, 2013
- Session type
- BoF Meet
- Technical level
To speak about the various sources of funds that entrepreneurs have managed to procure
In this session, people discuss how they managed their first source of funds for their start-up. Entrepreneurs will share their specific experiences and provide useful input to aspiring entrepreneurs.
There is no best person for this. In fact, we need 10 entrepreneurs who got their first set of funds from 10 different sources. I secured mine from my ex-supervisor and am on my way to securing my second angel round from an informal first-time NRI angel investor. I an the co-founder of Lumos Design Technology Pvt. Ltd, which is the world's first Solar Apparel company. Lumos integrates Solar Energy and Fashion Design. Being a physical R&D based product, finding funding was critical and bootstrapping was a lot more difficult. Hence, it was important that I find funds just for the 'idea' - luckily my ex-boss invested. Then, I went ahead and demoed a Solar Backpack (designed by us) at a couple of public events. That description interested a few investors enough for them to contact us. I found my investments by going out and meeting a range of people - my ex-supervisors, a VC/PE event, Product demos etc.