Comprehensive 360° handholding
Padup’s vision is to be a key player in the startup eco-system by actively supporting young entrepreneurs at various stages in their entrepreneurial journey and significantly impact survival rates positively, thus creating a huge impact in the entrepreneurial space.
Young companies are particularly vulnerable in their early/start-up years. A significantly higher percentage of inexperienced entrepreneurs trying their luck at starting companies means lack of exposure, maturity, resources, experience, network, corporate governance knowledge etc.
Technology start-ups tend to be a group of technology professionals with little business experience. Further, the start-up environment can be significantly more hostile in a developing economy, where services remain inadequate, inaccessible or expensive.
Padup Entrepreneurship Bootcamp is designed to overcome the challenges faced by entrepreneurs while they starting up or are at an early stage. This Bootcamp has been created keeping in mind the need of Entrepreneurial Education for budding entrepreneurs and also start-ups that need revalidation or pivoting.
An Outside-in Approach
Educational Institutions can play a very critical role in the Indian Start-up Ecosystem wherein they can nurture young minds with the natural instinct of spotting problems and finding solutions, which is vital for initiating a start-up.
Educational Institutions then need to get these start-ups off the ground by providing access to knowledge, initial funds, infrastructure and then connecting them to business/industry.
However, these Educational Institutions struggle to provide all that is needed and hence would benefit from engaging an incubator/accelerator from outside of their faculty/academia. This would provide processes to build, manage, market & sell their start-ups product and services.
While the institutions have the ability to spot the talent and to solve the problems, they need external mentors and coaches for knowledge sharing, fostering innovation and handholding start-ups through their journey to build a sustainable and scalable business.
Are you an educational institution looking to get involved?
Using 'open innovation' to expedite results
Developing methods to facilitate “open innovation” through an incubator/accelerator takes advantage of the fact that companies which adapt this ideology can be better off since they cannot always out-think their smaller, nimbler competitors.
Those small companies, however, do not have the resource might of the big-boys. Thus, large companies supporting small company’s innovations with desired resources like seed funding, market access, their distribution channesl and last but not least, by helping the entrepreneurs to shift gears by buying the entire small company – can often be a win-win scenario for both firms.
It makes sense for more and more large companies to outsource their entrepreneurial efforts. They are engaging knowledge firms (such as PadUp Ventures) that conduct in-depth need-finding, identify new opportunities, generate promising ideas, and develop ideas into working prototypes. The client company then refines these concepts and prototypes and takes them to market.
These knowledge firms tend to have a preferred customized methodology for working with their clients, such as user centric approach and data driven analytical models to build innovative solutions to emerging or futuristic problems. Results from these business-to-business collaborations have at times been phenomenally successful as one can observe in case of many corporate incubators.
Are you a corporate company looking to have an impact on the entrepreneurial space?
Investing in disruptive start ups and emerging technology, Padup has amassed a number of partners such as IBM, Amazon web services, Govt. ofIndia etc.
Entrepreneurs can help these big organizations try on a bootstrapping mentality, where there is no time or budget to lose focus. Given the pace of change that threatens established businesses, an incubator/accelerator can become more and more important to create growth options.
This kind of outreach creates goodwill with entrepreneurs while accessing talent, ideas and potential solutions to problem areas which might not seem evident to the companies lost in their organisational structure .In the process, its employees get to work side by side with these entrepreneurs and learn from one another.
For the entrepreneurs, this proves to be an invaluable resource, with unbarred access to the top of the ladder in terms of business solutions and seeing how larger companies tackle problems.
Are you a corporate looking to empower early stage tech start ups?