FLO-Hyd head says look beyond family businesses
HYDERABAD, June 24 (The CONNECT) - The Secret of Funding is you need to be eligible to get funded.
Participating in a virtual panel discussion on Investment & Funding, Surya S of IIT Hyderabad told FICCI Ladies Organization (FLO) over the years, funding opportunities have increased dramatically. There are many Government Grants which do not need much work to get funded. Thanks to Atmanirbhar Bharat Scheme and so on, the funding opportunities available now plenty, he said. For instance, the NIDHI-PRAYAS programme focuses on addressing the idea to prototype funding gaps.
Prof Ramesh Loganathan of IIIT-Hyderabad said the early-stage startups need to get initial demonstrative value as quickly as possible for funding.
Uma Chigurupati, Chairperson of FLO Hyderabad said in her welcome address that the aspiring entrepreneurs are confronted with many challenges. One of the biggest challenges is to raise funding. Also, the aspiring and existing entrepreneurs need to excel in many processes in the entrepreneurial journey such as Bootcamps, Micro-accelerators, Workshops, Mentorship, Pitching and many more.
She said the need of the hour for FLO members is to look beyond their family-run businesses to project their ventures, ideas.
To a question as to IIIT-H can help, Prof Loganathan said, a safety pin can be a safety pin and that's all. But, a twist to it may emerge as a different product and in a different market. So, help them think differently.