The Śūnyatā (Openness) Blog

For many would-be entrepreneurs, setting up a Private Limited company involves a vision of meeting with auditors, and lawyers and waiting in Govt offices to navigate through the bureaucratic maze. Well, that's a myth. If you can spend a few hours now and then, it could be done in a month or less. And if you live in States where e-Governance is being implemented, it could take even less- may be a few days ! Click here to read about the eight steps involved in setting up a private limited company in India. Go ahead and do it now ! Having an incorporated entity is the basic prerequisite for approaching VC uncles.

Finally, I am able to devote some time this weekend to catch up on all the reading I have missed out since I returned to India in August. And also post a few thoughts. Going through the various posts, discussions and comments on Venturewoods , I realize they are doing such a good job. No point in me replicating all those links here again. It looks like VCs/ Y Incubators are more interested in funding the right team than simply a good business idea/plan.If the right kind of team is in place, and if we can show that its a stable, committed team, it seems to be alright even if the current idea being worked on by that team does not have a feasible revenue model.And in some cases, the investors may also supply the right tweaking of the idea to create a viable revenue model OR more interestingly, in the interactions between the team and the investor/s, new ideas with lot more potential for financial returns would take shape. The above point is in contradiction to what I have been reading/sa...