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The Entrepreneurial Life Cycle: Perspectives and Experiences

The interest in entrepreneurship among the young is on the rise. But several questions continue to linger. Why should I become an entrepreneur? How do I know I am an entrepreneurial material? What is required to take the plunge into entrepreneurship and when should I do it? Is there a well-tested mantra to identify a business opportunity? I have heard that one should be prepared for early days of struggle. What does that really mean? How do I ‘make every rupee count?’ Fund raising is critical for start-ups. How do I do that? What do funders look for? What kind of funding is desirable? Should I search for specific type of funders? What does scaling up entail? What does exit imply? Why are VCs interested in exit? What does exit mean for entrepreneurs? Such questions are endless. In order to explore these questions, a discussion was organized at the Indian Institute of Management, Ahmedabad (IIMA). The panel consisted of distinguished entrepreneurs and venture capitalists. This panel was organized as a part of the first IIMA Alumni Entrepreneurs’ Conference held during June 28-29, 2008. The Centre for Innovation, Incubation and Entrepreneurship at IIMA took the initiative for this event. Sanjeev Bikhchandani anchored the panel discussion. In these free-wheeling discussions, several interesting insights on the questions raised were shared.