Tag Archives: YCombinator

Startup #LifeLessons from the YCombinator Vinod Khosla interview – “How to Build the Future”

I’ve always found Vinod Khosla’s commentary on technology and startups very compelling. He’s an outspoken tech visionary, has a knack for articulating his thoughts clearly & impactfully for others to learn. This interview with YCombinator is a true gem – I jotted down its key takeaways for reflecting internally… and then decided to share it on the blog for public reading. Here are some hardest hitting startup #lifelessons from the conversation –

Culture & People

  • “A company becomes the people it hires, not the plan it makes”
  • The best people you’ll hire will take significant time to join you, since they will always something great to walk away from
  • “If you are reasonable, you can’t do unreasonable things”
  • “Hiring the early team is like engineering the gene pool of a company”
  • Doers v/s Talkers: at a startup, surround yourself with doers who have “skin in the game”

Strategy

  • For a startup, the end goal is like Mount Everest, but they don’t climb it in a straight line. They first get to basecamp 1, then to basecamp 2 and so on
  • Startup business plans (or pitch decks) aren’t important for knowing what founders will do, but for knowing how they have thought through and analyzed the problem

Investors / Advisors

  • “90% investors add no value, 70% add negative value to startups”
  • “Single hardest decision for startups – whose advice to listen for which topic”
  • How founders should think of investors: “they are employees you can’t fire”

Equity

  • Be generous with equity; use it strategically to hire people who are magnets for other good people
  • “If you are maximizing the size of the pie, it doesn’t matter what % you own”

Overall I think the interview is very insightful. Its like what is said about classics (books) – “every time you read it, you learn something new”.

iAccelerator… the most promising startup incubation program yet in India

iaccelerator-small1 If you are looking to join an incubation program for startups, check out iAccelerator. Modeled on YCombinator, this program is being conducted at IIM Amhedabad, India’s premier business school and kicks off in May for a 5 month period.

Who’s running the show there? iAccelerator is being conducted Freeman Murray, a technology professional with excellent credentials, in conjunction with IIMA’s CIIE (Centre for Innovation, Incubation & Entrepreneurship). Details are here.

How does it work?
If you are working on a tech startup, you could apply for the program, the deadline for which is April 1st. Applicants will get to know their status by April 13th. The actual program starts on May 1st thru Sep 30th. iAccelerator will invest 3-5 lakhs INR in the selected companies in exchange for some amount of equity (between 5% and 15% depending on factors like the experience of the team, the nature of the opportunity etc) For details check out this section, whch lays down the expectations fairly clearly.

The selected startups will have to live and work in Ahmedabad out of an apartment for the 5 month period. Once the program ends, the teams will be free to move to other cities.

Is iAccelarator the same as a summer internship?
Absolutely not. The program makes it clear that they are looking for teams of serious people with the technical and business acumen to successfully start a business, develop cutting edge technology, satisfy customers, and make money. This is not for students on summer break or people who just want to play with an idea.

I think IAccelarator is very promising.
Reason #1: Its being run by somebody who has first hand experience of the technology startup space (both in India & Silicon valley) and has good connections.
Reason #2: It is being held at IIM Ahmedabad, which adds a dash of credibility to the program straightaway.
Reason #3: 5 months is a good time frame to come up with the proof of concept of a tech product.
Reason #4: I think programs like these are far more useful than participating in one of the umpteen business plan competitions that are being held all around. You get to work on a prototype and not ideate on a powerpoint. And staying and working amidst a bunch of bright, smart motivated folks for 5 months will ensure you hit the ground running once the program is over.

So if you are in this game, go for it.