NEN Ecosystem : Review Feb 10, 2017
Key direc:ons and plans for 90 days Launch activities in three city ecosystems (Indore, Jaipur, Raipur+Nagpur) - Mentor onboarding (300 mentors) - Mentee onboarding (700 startups) - Mentor mentee engagements Rollout of Helpdesk (tiered mentoring model)
Exec Summary Mentor onboarding is progressing well Good progress in Indore Jaipur is picking up Raipur+Nagpur is to be followed up Focus is on growth-stage startups and top 20% early-stage startups Strong vetting and capability of mentor/mentee aligned accordingly for WF onboarding Tier-2 ecosystems have too many ideation stage startups which have a long way to go Rollout of help desk is on schedule Document repository and service provider directory is progressing well
Target Market: Growth stage startups and top 20% early stage 94 Funded / Mature 46 Funded / Mature 36 54 Growth 52 Growth 31 390 Idea/on 175 Idea/on 109 Jaipur Indore Nagpur+Raipur Source: Tracxn database 2016
Key mentor onboarding strategies helped us in plugging into the ecosystem beper We hit the ground running in these ecosystems and connected with most of the stakeholders like entrepreneurs, influencers, mentors, investors and incubators. ü Leverage the connects of NEN field team and influencers ü Work with local ecosystem partners (TiE, CII, Nasscom, Angel networks etc.) ü Reach out to local successful entrepreneurs ü Iden/fy mentors through other database lis/ngs ü Rolling out mentor enablement program Indore/Bhopal: Mentor onboarding Met 87 poten/al mentors; 72 shortlisted; 37 mentors joined our plaiorm. Mentor enablement program rolled out Jaipur: Met 20 poten/al mentors; 17 people joined our plaiorm Mentor enablement program is scheduled for Feb 10 Nagpur+Raipur Established connects with influencers; yet to make significant progress Mentoring engagements Reached out to 100+ entrepreneurs in these ci/es and 48 have joined the mentoring plaiorm. 25 engagements have been ini/ated in these ci/es and 110 engagements are happening in other ci/es
Mentor onboarding is progressing well, trac:on on engagements outside workshops is s:ll low City Mentors YTD Target Indore Mentors 37 150 Mentees 35 350 Engagements 24 100 Jaipur Mentors 17 100 Mentees 7 200 Engagements 1 75 Raipur + Nagpur Mentors 4 50 Mentees 6 150 Engagements - 50 Other ci/es Mentors 230 400 Mentees 391 400 Engagements 110 200
Mentor selec:on is done to match with the target mentee requirements.. þ Currently mentor pool is skewed more towards early stage ventures and few industry segments like educa/on, retail, technology, media etc. þ Efforts are on to match the mentor pool demographics to the target of growth stage ventures and across industries that are likely to create more jobs. 100 90 80 70 60 50 40 30 20 10 0 95 81 45 41 Preferred Industry 33 29 26 24 23 22 22 21 19 17 16 12 12 11 10 5 2 1 16% Stage of the venture 11% 21% 52% Early&Growth Stage Early Stage Growth Stage SMB 100 90 80 70 60 50 40 30 20 10 0 92 42 33 24 24 13 8 7 5 4 2 2 2 1 1 1 1 0 26 43
Key insights gathered from mentors is helping us in fine tuning our strategy These /er- 2 city ecosystems are s/ll evolving; more startups in early stage than growth stage Jaipur is more organized with other players like TiE and RAIN taking ac/ve part. There are more first /me mentors. Mentor enablement is a requirement. Under developed angel communi/es. Very ligle seed funding available to start- ups in these ci/es. Idea of Help Desk (for handling transac/onal issues) is being appreciated by all stakeholders Early stage In early growth ventures, the quality of the ideas and business models are s/ll immature - - several me- too idea based start- ups; working execu/ves running startup opera/ons on a part /me basis GTM, fund raising and agrac/ng/retaining talent are few of the major challenges faced There is very ligle understanding of dynamics of fund raising Growth stage Major challenges faced by the growth stage ventures o GTM and Customer acquisi/on o Industry connects for revenue growth o Hiring key management professional o Hiring at scale What these start- up look for: mentors with deeper domain exper/se, industry connects that they can approach for specific problems
Our offerings are tailored towards the needs of the startups in different stages Startup Stage Onboarding Channels Needs Our offerings Growth Stage (3-5 yrs) References from influencers/ mentors Accelerators 1:1 outreach Tracxn DB NEN Programs Help in GTM and customer acquisi/on Intros to industry connects Agract and retain talent Fund raise (Debt / Equity) Mentor network Fund Advisory (pitch sessions, speed da/ng, investor connects) Advanced learning Help desk v2 Co- founder market place Mature Stage (Funded or > 5yrs) References from influencers/ mentors Tracxn DB Help in customer acquisi/on Hire and retain key management personnel Mentor network of Deeper industry/domain experts Advanced learning Early Stage (1-3 yrs) Idea/on Proof of Concept References from influencers/ mentors College outliers Partner outreach Incubators Tracxn DB Idea valida/on Business planning Finding co- founders Seed funding Org processes and docs Mentor network Fund advisory Learning boot camps Help desk v1 Startup Intern portal
Key building blocks are being put in place for expansion in the coming year Area Current progress Readiness for next year Content and Placorms Needs are mapped and these requirements are flowing into the budge/ng exercise Rollout plan is being worked out. City selec:on/expansion Indore, Jaipur and Raipur+Nagpur will be engaged further New ci/es like Ahmedabad, Hyderabad and Pune could be explored Help Desk First edi/on of Help Desk is being launched in Feb. (for early stage startups) Based on feedback/experience, services could be expanded for growth stage startups as well Manpower Regional managers for Indore and Jaipur are iden/fied. Offers are being rolled out Based on the city selec/on, we could ini/ate the process of hiring for other ci/es
Placorm enhancements and product rollout are being finalized for the coming year Technology placorms Wfnen.org enhancements Wfnen.org mobile app - Co- founder market place - Investor Connect - Discussion forums - Startup Intern marketplace MentorWise mobile app (v2 Investor Connect v1 Incubator Management plaiorm (TBD) Product Type Content Title Bootcamps Lean Startup methods Bootcamps Digital Marke/ng Bootcamps Tools for Growth (English) TBD Incubator Manager Training F2F session and Videos Agract and Retain Talent F2F session and Videos Fund Raising Basics F2F session and Videos Channel Partner Training Program For Fund Raising For all programs Videos Digital marke/ng Videos Start- up India features Digi/zed Workshops Mentoring Evangeliza/on Digi/zed Workshops Digi/zed Workshop Digi/zed Workshop Non - Digi/zed Workshop MVP to Market bootcamp Angel Investor enablement Wadhwani - Purdue Mentor cer/fica/on "Train the Trainer" workshop for the above
Ahmedabad, Hyderabad, Pune and Chennai could be our next key city ecosystems 3500 3000 2500 2000 1500 1000 Funded Unfunded; >5yrs Unfunded; 4-5 yrs 500 0
Rollout of Help Desk key construct Area Progress :ll date Resources library 32 in- demand resource assets (Incorpora/on check list by industry, Business plan template, NDA.) are iden/fied, 25 resources are being worked on by partners already iden/fied. Process Service providers directory (CAs, Legal, HR, Digital Mktg, Technology Providers, Co- working spaces) - Ready for Indore - Jaipur is WIP People Level 1 helpdesk consultant is in place Level 2 consultant (part /me) is being on- boarded Technology Website enhancements are in progress Phone no and email id are being setup
Help desk rollout - :melines December 16 January 17 February 17 List of 25 assets for resource library- start working with partners/core group to put together various documents in place Service providers directory for Indore- validated and ready Start recruitment process for Level 2 support consultant 1 st list of SOPs (Ready reckoner list- 5-8 common scenarios) Feedback from entrepreneurs (focus groups)- Indore, Jaipur, Raipur and Bangalore Tech enhancements- complete by Jan 20 15 resource library asset templates developed Features (eg: Ra/ng system) for service providers directory Select and train inhouse level 1 support execu/ve by 3 rd week of Jan Set up dedicated helpline number by Jan end Escala/on process defined Onboard consultant/s Onboard mentor pool for Region 1 (150 by Jan end) Advisors group represen/ng each stakeholder (VC, Mentor, Entrepreneur, Ecosystem player) SOPs- Develop ready reckoner lists Metrics for support to be finalized (Metrics, measures, frequency etc.) Train consultants by Feb 6 Dry run/test of the helpline number and email Feb 13/14 Promo/on of the Helpdesk Go live- Feb 2017
Help Desk Startup/SME need mapping What is the need? Typically who has the need? Need explained in detail Request for a resource How to go about doing certain stuff? Request for a service Request for a connect / Intro Quick third party review Sharing of ideas and feedback Challenge specific mentoring Strategic longer term mentoring Startup 0-3 yrs Startup 0-3 yrs Startup + SME Startup + SME pre- startup Startup + SME Startup + SME This could be a template for a vendor agreement, employee agreement, investor agreement. Incorpora=on of the company, train my staff, filing for a patent, building a business plan, leverage social media channels etc. (101 of each of these subjects) Startup may be looking for a service for technology, legal, accounts, marke=ng, market research, design, office space etc. Reorganizing books of accounts; sejng up HR prac=ces; crea=ng systems & processes This could be for an intro to an expert, partnership, poten=al customer, vendor, propec=ve key employee etc. Entrepreneur worked on a plan for marke=ng, technology architecture, product roadmap etc. and they are looking for a quick valida=on regarding completeness Startups are looking to brainstorm ideas with other startups to finetune their strategy, find holes in their approach, or find a new approach Startups may have medium term goals like my sales need to grow 3 fold in the next 6 months, my website response =me could be X ms, my logis=cs cost should come down by 50% etc. I am looking for someone that I would like to speak to on an ongoing basis to validate my approaches, take feedback, get intros etc. How much :me? Transac/onal Who can resolve? Thru which method? Transac/onal; Knowledge asset based Transac/onal Trasac/onal Transac/onal Ongoing Time- bound Ongoing Resource Library In- house consultant? Service provider Mentor / Buddy Mentor Buddy Mentor Mentor Help Desk Help Desk Help Desk + Direct Connect Direct Connect Direct Connect Request mentor thru Mentoring plaiorm Request mentor thru Mentoring plaiorm Request mentor thru Mentoring plaiorm
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