The key to entrepreneurial success: Failure

Failure is the key to the success of a start-up. As this infographic by onlineMBA.com shows, entrepreneurs who have failed before, or who have radically altered their original business models, are more likely to succeed. This is in sync with research findings that show a learning curve effect in start-up success.

 

Startups Infographic

Image via OnlineMBA.com

 

See the original here.

The Tech Startup Ecosystem

Why do some cities have a greater tendency to give rise to technology startups? What do technology startups lead to more startups? What is this ‘startup ecosystem’ that policy planners aspire to create in their cities? The below infographic, by Udemy, provides a neat snapshot of the ecosystem which allows tech startups to thrive. While a little simplistic in nature, the infographic introduces the key players in ecosystem.

startup-ecosystem-infographic
Source: Udemy Blog

See the original at Startup Ecosystem: Predator vs. Prey [Infographic].

New India-focused Angels

With entrepreneurship becoming cool in India, a couple of India-focused Angel funds have been announced in the past few days. The India Internet Group and the Harvard Business School Angels of India are aiming to invest in India-based, early stage tech start-ups.

English: Diagram of venture capital fund struc...

Image via Wikipedia

A new startup accelerator called the India Internet Group (IIG) is debuting today as fund to invest in India-focused, early stage internet and mobile startups. The size of IIG is $2.5 million and with an average investment size of $50,000 to $250,000.

There are also several other Angel investors who are starting to have a good look at the emerging tech scene in India.

Harvard alumni Raj Chinai and Ramesh Shah, in collaboration with Harvard University, have recently co-founded and launched Harvard Business School Angels of India (HBSAI), an India-centric angel investing organisation. Incidentally, HBSAI happens to be the country’s first international angel network. It was first started with a Northern California chapter in 2007 and is currently present in nearly half a dozen countries across the globe.

While the group is sector-agnostic, it is likely to have a skew towards technology and technology-enabled start-ups, and will invest approximately $250-500K per deal.

Read more at Harvard Business School Angels To Invest 0-500K In Start-ups « Biz Tech « Techcircle.in – India Internet, mobile, consumer tech, business techEntrepreneurs Debut $2.5M Accelerator To Invest In India-Focused Startups | TechCrunch, and Early Investing In India Is A Nightmare — Now This Guy Wants To Fix It.

Free Stanford course on Technology Entrepreneurship

Stanford University’s Professor Chuck Eesley is offering a FREE online course on Technology Entrepreneurship. Beginning in January 2012, the class will involve 2 hours of lecture videos per week, broken into small chunks. The course will require no textbooks and also offer non-real time teacher / student interaction for online students. More than 33,000 students have signed up for this course so far!

How do you create a successful start-up? What is entrepreneurial leadership in a large firm? What are the differences between an idea and true opportunity? How does an entrepreneur form a team and gather the resources necessary to create a great enterprise? This class mixes in-depth case studies and research on the entrepreneurial process.

Sign up and read more at Technology Entrepreneurship.

Entrepreneurship in India

This post at GigaOM states that it is now becoming socially acceptable to be an entrepreneur in India. Critical to these changing mindsets is the much publicized success of international and domestic tech entrepreneurs such as Mark Zuckerberg (Facebook) and Sanjeev Bikhchandani (Naukri).

seen from state highway

Image via Wikipedia

While there are several hurdles in the path to entrepreneurship, initiatives such as Nuture Talent are contributing towards building a supportive ecosystem in India.

But despite the wait and the hurdles, many are expecting that the opportunities in the web and mobile markets in India to take off dramatically several years down the road.

Read more at It’s finally cool to be an entrepreneur in India — Tech News and Analysis.

Brief history of Crowdfunding

This infographic by GPlus presents a brief history of crowdfunding. Crowdfunding, as the name suggests, is the idea of using capital (funding) raised from the public (crowd) to support private firms. The SEC has recently introduced a Crowdfunding bill, which will make crowdfunding easier and more regularized for entrepreneurs.

 

INFOGRAPHIC: Drawing a Crowd: The Crowdfunding Phenomenon Heats Up

Image via GPlus

 

See the original image here and read more at Crowdfunding: Where it has been and where the new bill is taking it (infographic) | VentureBeat.

Lessons from Second Life applied to Real Life

Philip Rosedale, the founder of Second Life (SL) has a new Real Life (RL) venture. ‘Coffee & Power’ is a marketplace of small tasks and applies several lessons Rosedale learnt at SL. It allows people to offer their services towards small tasks (like shopping for groceries) that may not be related to their RL jobs and job associated skills.

Virtual reality - Second Life

Image via Wikipedia

What made Second Life attractive to users, he explains, is that people are able to create value from each other and use skills and capabilities in novel ways in the virtual world. Rosedale wanted to translate this to real life.

Coffee & Power also adopts the SL monetization model – it has a virtual currency for user-to-user transactions and Coffee & Power takes a 15% cut when users convert the virtual currency into real dollars. [SL on the other hand takes a 3.5% cut on inbound and outbound transactions.] However, unlike SL, where Linden Dollars have a floating exchange rate, Coffee Dollars have a fixed rate of 1$.

Another twist is that Coffee & Power does not let people transact in U.S. dollars. As with Second Life, all missions are conducted in a virtual currency.

Coffee & Power will charge people 15 percent to cash out whatever they earn, which in turn will encourage people to keep the money on the network and spend it on other items in the community.

The virtual currency on the site is called coffee dollars, and $1 equals $1 real dollar.

Finally, like many entrepreneurs in SL, Coffee & Power has minimized fixed costs and is running a ‘temporary company’ strategy by tapping the power of scores of developers available online.

It has three founders and one full-time employee, and has gotten most of the development work accomplished through hiring software developers online.

Basically, Coffee & Power is providing a shared space ,both virtual and physical, where people can meet and do small, interesting jobs for each other, Rosedale explains.

Read more at Second Life Founder Tries Bringing the Virtual World to Real Life – Tricia Duryee – Commerce – AllThingsD and Second Life Founder Launches Coffee & Power, A Jeff Bezos-Backed Marketplace For Skill-Based Jobs | TechCrunch.

Startup Funding Infographic

This great infographic by Mashable showcases several startup funding facts – different types of funding, the US trend of reducing number of VC funds and venture capital over the past 5 years, and major done & upcoming tech IPOs of 2011.

Image via Mashable

See the original at Startup Funding by the Numbers [INFOGRAPHIC].

Accel Invests In Mark Mobius-backed Financial Training Firm Pristine | VCCircle

VCCircle reports Accel investment in Pristine. Congratulations once again!

Accel Invests In Mark Mobius-backed Financial Training Firm Pristine | VCCircle.

Pristine Careers, a financial training firm for certifications like CFA, has raised an undisclosed sum from early-stage venture capital investor Accel Partners in its series A round. Neev Knowledge Management, which runs Pristine Careers, has been founded by former investment bankers and private equity professionals in 2007.

The company’s co-founders include Atul Kumar (ex-Reliance Capital private equity), Paramdeep Singh (ex-Standard Chartered Capital Markets and Accenture), Pawan Prabhat (ex-CRISIL and Standard Chartered Capital Markets) and Sarita Chand (ex-Goldman Sachs and Aditya Birla Group).