Archive for the ‘Motivations’ Category
Starting up at the age of 50, this entrepreneur is defying all myths around any age bar to start a startup
For Khushru Farrokh, founder of Taasha, delivering IT solutions is akin to an artist creating a new painting. It is always a unique and stimulating experience.
Khushru was on the road to getting a PhD in Chemistry before the technology bug bit him in the ‘90s. Since then, he has been a technology person. He says, ” Since childhood, I was a fiercely independent person. My father was a trade union leader in a bank. That gave me lessons in public speaking and leadership from a very young age. Running a business wasn’t easy for me, but I learnt on the job.”
The groundwork began in September 2016 when he quit his job, but Taasha was launched in the middle of November 2016.
His experience while starting his own company at the age of 50
Khushru says, “Age is but a number. Many people told me that it was a bad age to take a risk and do something on my own. But with my background, I thought that it was the best age to do business. I had cultivated a great network. I had experience of working in all the areas of an IT services organisation. I am a regular guest faculty at some of the best colleges in India. I have also been delivering lectures at IIM-A.”
Khushru has been in the field of IT for more than 20 years. Over time, he realised that the IT industry was creating an aura around itself, an overly complex, superior air. A lot of jargon got created, and the end user was made to feel that the issue was a lot more complex than it actually was. So one of his reasons behind starting Taasha was to simplify such things.
He further adds, ” The name of the company was suggested by my wife, who is a language consultant. Taasha is a corrupted form of Nataasha, and it means birth.”
The services offered by Tasha include the following:
- Software development and testing outsourcing.
- Software process consulting.
- Helping companies set up offshore development centres.
- Startup mentoring.
Khushru thinks that outsourcing and process consulting are large markets globally, each more than a few hundred billion dollars. For software outsourcing, India is a prime location.
The company plans to enter functional verticals like media and entertainment, healthcare, education, and machine learning and data analytics. It is also planning to work in technologies like open-source.
Taasha is a six-member team today and is currently bootstrapping. Once it bags some good projects, the company would consider that the ideal time to go out looking for external funds.
Introducing TiE SoCal Labs
We are pleased to launch a new program called TiE SoCal Labs on 9th March. This virtual incubator program is designed for “Hungry SoCal Entrepreneurs” who are eager to receive help from the TiE Global network. Nitin Rai from TiE Global Angels Alliance (TGAA) will be launching this amazing program. Mangesh Mahajan, Partner at WaterMark Venture Capital, will be the chair of this program. Well-known VCs, Angels and seasoned Entrepreneurs will be available to mentor these startup founders. An exclusive group of founders and their startups will be selected in the first year.
Our bold vision is to help aspiring entrepreneurs with the entire lifecycle of their company – from cradle to successful exit: ideation process (above), making a realistic business plan, finding co-founders, building proof-of-concept, finding beta customers, commercializing the products, creating go-to-market strategy, expanding sales and distribution channels, and above all, exploring various fund-raising options. We are going to put key people, processes and systems in place to make you successful!
TiE SoCal is going through a selection process for the first batch of startup companies to be admitted to this amazing incubator. We have already received a dozen or so applications, and our committee has decided to keep the invite open for a few more. Are you interested in applying for the TiE SoCal Labs? This is your chance to get in on the ground-floor!
Please Apply here
We are anticipating a Huge Turnout for the TiE SoCal Labs launch event (we’re hearing that this launch may include live pitches from the final round of applicants, live audience participation and selection (aka The Voice), and a few surprises… but we can’t give it all away).
Place: Real Office Centers at the Vine OC
5151 California Ave. Suite 100
Irvine, CA 92617
When: March 9 from 6 pm onward
What: Indian dinner will be served
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This year, Entrepreneurship Cell IIT Kharagpur and IBM are proud to present Empresario 2016 in association with the prestigious International Business Model Competition (IBMC) which is co-hosted by Stanford, Harvard and Brigham University. The best entries in all categories will get an opportunity to participate directly in the semi-final rounds of IBMC 2017, which will be conducted abroad. ((Visit www.ecell-iitkgp.org/empresario for more details). The prizes and services for the winners as per last year are worth 25 lacs INR.
The shortlisted entries are provided immense help in terms of mentorship and the winners also get a much sought after chance to pitch their ideas in front of some of India’s biggest VCs and investors. Empresario participants are mentored and supported by organisations like TiE, NEN(National Entrepreneurship Network) etc. Startup Services like legal advice, taxation, financial, technical aspects of running a startup, co-working space, HR needs, incubation opportunities, etc. are provided.
Entrepreneurship Cell, IIT Kharagpur is a student organisation established with the aim of fostering the spirit of entrepreneurship among college students in India. We are one of the most successful entrepreneurial organisations in the country with over 50 start-ups incubated within 8 years of our inception. We are playing a vital role in developing the upcoming startups into successful companies by taking a great initiation of conducting flagship competition namely Empresario, our Annual and India’s only Global Business Model Competition.
It has been observed that startups with static business plans fail miserably since reality does not conform to their assumptions. Hence, there is a need for a more dynamic methodology while starting up and this is why the Entrepreneurship Cell, IIT Kharagpur sought to undertake a Business Model competition, which was entitled ‘Empresario’
Empresario accepts business ideas in all fields which include Product and Service, Product Design and Social categories. Each of the entries get equal opportunity to win the prize and incubation money to the tune of INR 2.5 crore.. Previously, Empresario has been launched in association with TiE Kolkata, Mahindra Spark the Rise and Dell Social Innovation Challenge.
Empresario is about recognizing that any new venture is just a guess at a problem / solution and the only way to test whether those guesses are correct is to “get outside the building” and validate their idea with customer feedback. A business model is designed to change rapidly to reflect what you find outside the building in talking to customers. It’s more visual, dynamic and it reflects the iterative reality that startups face.
For the first round of Empresario, we will require participants to fill up a questionnaire asking in brief about their Business idea and submit it. This questionnaire can be found on our website www.ecell-iitkgp.org/empresario . If participants register now, they can avail the Early Bird privileges, which include extended mentoring and offline mentoring session.
One of the winners of Empresario’14, Betaglide also secured the largest funding among all the startups present at Rice Business Plan Competition of around $1 million.
Some of the past student startups who were winners of Empresario are:-
- BetaGlide – A startup by students of IIT Kharagpur, is a mobile app testing platform that allows developers to gather information in real-time about the system usage and the behavior of their app to improve its stability and performance. It has recently won the Tech Transfer Prize (Mercury Fund Prize) at Rice Business Plan Competition and became popular internationally.
- Roof For Two – A startup by a team from Massachusetts Institute of Technology, is a unique concept that can help solve the age-old problem of two-wheeler riders who ride daily through rain, sun and the cold. Roof for Two eliminates travel irritation with an affordable and stylish riding canopy.
- COEO Labs – An IIT Kharagpur based startup focused on developing innovative and low cost medical technology products. Their device Saans catapulted them to winning Empresario, Social Track and there was no stopping them following that. After winning the TATA Social Enterprise Challenge and Master Plan, Social Track at IIM-A, they also went on to the finals of the International Business Model Competition (IBMC).
We conduct our flagship event – Global Entrepreneurship Summit (GES), the largest collegiate entrepreneurial summit in India every year in January. The final rounds of Empresario 2017 will be held during GES’17.