NEN Ecosystem : Review
Feb 10, 2017
© Copyright Wadhwani Foundation
Key directions 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)
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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
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Target Market: Growth stage startups and top 20% early stage
94
Funded / Mature
46
54
Growth
52
Growth
31
390
Ideation
175
Ideation
109
Jaipur
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Indore
Funded / Mature
36
Nagpur+Raipur
Source: Tracxn database 2016
Key mentor onboarding strategies helped us in plugging into the
ecosystem better …
We hit the ground running in these ecosystems
and connected with most of the stakeholders
like entrepreneurs, influencers, mentors,
investors and incubators.
 Leverage the connects of NEN field team and influencers
 Work with local ecosystem partners (TiE, CII, Nasscom,
Angel networks etc.)
 Reach out to local successful entrepreneurs
Mentor onboarding
Indore/Bhopal:
•
•
•
Met 87 potential mentors; 72 shortlisted;
37 mentors joined our platform.
Mentor enablement program rolled out
Jaipur:
•
•
•
Met 20 potential mentors;
17 people joined our platform
Mentor enablement program is scheduled for Feb 10
Nagpur+Raipur
•
Established connects with influencers; yet to make
significant progress
Mentoring engagements
 Identify mentors through other database listings
Reached out to 100+ entrepreneurs in these cities and 48
have joined the mentoring platform.
 Rolling out mentor enablement program
25 engagements have been initiated in these cities and
110 engagements are happening in other cities
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Mentor onboarding is progressing well, traction on
engagements outside workshops is still low …
City
Mentors
YTD
Target
Indore
Mentors
37
150
Mentees
35
350
Engagements
24
100
Mentors
17
100
Mentees
7
200
Engagements
1
75
Mentors
4
50
Mentees
6
150
Engagements
-
50
Mentors
230
400
Mentees
391
400
Engagements
110
200
Jaipur
Raipur + Nagpur
Other cities
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Mentor selection is done to match with the target mentee
requirements..
 Currently mentor pool is skewed more
towards early stage ventures and few
industry segments like education, retail,
technology, media etc.
Preferred Industry
100
90
80
70
60
50
40
30
20
10
0
 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.
Stage of the venture
11%
21%
16%
Early&Growth Stage
Early Stage
Growth Stage
52%
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SMB
100
90
80
70
60
50
40
30
20
10
0
95
81
45 41
33 29
26 24 23 22 22 21
19 17 16
12 12 11 10
5
2
1
92
43
42
33
24
26
24
13
8
7
5
4
2
2
2
1
1
1
1
0
Key insights gathered from mentors is helping us in fine tuning
our strategy…
These tier-2 city ecosystems are still evolving; more startups in early stage than growth stage
Jaipur is more organized with other players like TiE and RAIN taking active part.
There are more first time mentors. Mentor enablement is a requirement.
Under developed angel communities. Very little seed funding available to start-ups in these cities.
Idea of Help Desk (for handling transactional issues) is being appreciated by all stakeholders
• In early growth ventures, the quality of the ideas
and business models are still immature
- several “me-too idea” based start-ups;
- working executives running startup operations
on a part time basis
• GTM, fund raising and attracting/retaining talent
are few of the major challenges faced
• There is very little understanding of dynamics of
fund raising
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Growth stage
Early stage
•
•
•
•
•
• Major challenges faced by the growth stage
ventures
o GTM and Customer acquisition
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 expertise, industry connects
that they can approach for specific
problems
Our offerings are tailored towards the needs of the startups in
different stages …
Startup Stage
Growth Stage
(3-5 yrs)
Onboarding Channels
•
•
•
•
•
Mature Stage
(Funded or > 5yrs)
•
•
Early Stage (1-3 yrs)
•
Ideation
Proof of Concept
•
•
•
•
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References from
influencers/mentors
Accelerators
1:1 outreach
Tracxn DB
NEN Programs
References from
influencers/mentors
Tracxn DB
References from
influencers/mentors
College outliers
Partner outreach
Incubators
Tracxn DB
Needs
•
•
•
•
•
•
•
•
•
•
•
Our offerings
Help in GTM and
customer acquisition
Intros to industry
connects
Attract and retain talent
Fund raise (Debt / Equity)
•
•
Help in customer
acquisition
Hire and retain key
management personnel
•
•
Mentor network of Deeper
industry/domain experts
Advanced learning
Idea validation
Business planning
Finding co-founders
Seed funding
Org processes and docs
•
•
•
•
•
Mentor network
Fund advisory
Learning boot camps
Help desk v1
Startup – Intern portal
•
•
•
Mentor network
Fund Advisory (pitch sessions,
speed dating, investor
connects)
Advanced learning
Help desk v2
Co-founder market place
Key building blocks are being put in place for expansion in the
coming year…
Area
Current progress
Readiness for next year
Content and Platforms
Needs are mapped and these requirements are
flowing into the budgeting exercise
Rollout plan is being worked out.
City selection/expansion
Indore, Jaipur and Raipur+Nagpur will be
engaged further
New cities like Ahmedabad, Hyderabad
and Pune could be explored
Help Desk
First edition 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
identified. Offers are being rolled out
Based on the city selection, we could
initiate the process of hiring for other
cities
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Platform enhancements and product rollout are being finalized
for the coming year…
Technology platforms
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 platform (TBD)
Product Type
Bootcamps
Bootcamps
Bootcamps
TBD
F2F session and Videos
F2F session and Videos
Lean Startup methods
Digital Marketing
Tools for Growth (English)
Incubator Manager Training
Attract and Retain Talent
Fund Raising Basics
Channel Partner Training Program
F2F session and Videos
For Fund Raising For all programs
Videos
Digital marketing
Videos
Start-up India features
Digitized Workshops
Mentoring Evangelization
Digitized Workshops
MVP to Market bootcamp
Digitized Workshop
Angel Investor enablement
Wadhwani - Purdue Mentor
Digitized Workshop
certification
Non - Digitized
Workshop
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Content Title
"Train the Trainer" workshop for the
above
Ahmedabad, Hyderabad, Pune and Chennai could be
our next key city ecosystems…
3500
3000
2500
2000
1500
Funded
Unfunded; >5yrs
Unfunded; 4-5 yrs
1000
500
0
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Rollout of Help Desk – key construct
Area
Progress till date
• Resources library – 32 in-demand resource assets (Incorporation check list
by industry, Business plan template, NDA….) are identified, 25 resources
are being worked on by partners already identified.
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 time) is being on-boarded
Technology
• Website enhancements are in progress
• Phone no and email id are being setup
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Help desk rollout - timelines
December’16
•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
•1st list of SOPs (Ready reckoner
list- 5-8 common scenarios)
•Feedback from entrepreneurs
(focus groups)- Indore, Jaipur,
Raipur and Bangalore
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January’17
•Tech enhancements-complete by Jan 20
• 15 resource library asset templates
developed
•Features (eg: Rating system) for service
providers directory
•Select and train inhouse level 1 support
executive by 3rd week of Jan
•Set up dedicated helpline number by
Jan end
•Escalation process defined
•Onboard consultant/s
•Onboard mentor pool for Region 1 (150
by Jan end)
•Advisors group representing each
stakeholder (VC, Mentor, Entrepreneur,
Ecosystem player)
•SOPs- Develop ready reckoner lists
•Metrics for support to be finalized
(Metrics, measures, frequency etc.)
February’17
•Train consultants by Feb 6
•Dry run/test of the helpline
number and email – Feb 13/14
•Promotion of the Helpdesk
•Go live- Feb 2017
Help Desk – Startup/SME need mapping
What is the
need?
Request for a
resource
How to go about Request for a
doing certain
service
stuff?
Typically who
has the need?
Startup 0-3 yrs
Startup 0-3 yrs
Request for a
connect / Intro
Startup + SME
Need explained This could be a
template for a
in detail…
Incorporation of the Startup may be looking This could be for an
company, train my for a service for
intro to an expert,
vendor agreement, staff, filing for a
technology, legal,
partnership, potential
employee
patent, building a
accounts, marketing, customer, vendor,
agreement,
business plan,
market research,
propective key
investor
leverage social media design, office space etc. employee etc.
agreement.
channels etc. (101 of Reorganizing books of
each of these
accounts; setting up HR
subjects)
practices; creating
systems & processes
How much time? Transactional
Who can
resolve?
Thru which
method?
Quick third party
review
Sharing of
ideas and
feedback
Challenge
specific
mentoring
Strategic longer
term mentoring
Startup + SME
pre-startup
Startup + SME
Startup + SME
Entrepreneur worked
on a plan for
marketing, technology
architecture, product
roadmap etc. and they
are looking for a quick
validation 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
time could be X
ms, my logistics
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.
Trasactional
Transactional
Ongoing
Time-bound
Ongoing
Resource Library
Transactional;
Transactional
Knowledge asset
based
In-house consultant? Service provider
Mentor / Buddy
Mentor
Buddy
Mentor
Mentor
Help Desk
Help Desk
Direct Connect
Direct Connect
Request mentor Request mentor
thru Mentoring thru Mentoring
platform
platform
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Help Desk + Direct
Connect
Request mentor thru
Mentoring platform
Thank You
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