Site news

CONCEPT NOTE: STARTUP COUNCIL IN KARNATAKA PROPOSED BE YOUR OWN BOSS CREATE STARTUP

 
 
Picture of System Administrator
CONCEPT NOTE: STARTUP COUNCIL IN KARNATAKA PROPOSED BE YOUR OWN BOSS CREATE STARTUP
by System Administrator - Monday, 14 September 2015, 11:46 PM
 

By : M.S.Yatnatti: Editor and Video Journalist Bengaluru : Reportedly talks are on with Industry to Make Concept Noteon creating a startup council.The plan, which was on the drawing boardfrom several month , is now taking shape and the department of commerce and industry is preparing a concept note for this purpose . The startup council will work on framing policy to provide easy clearance to emerging businesses, besides having a dedicated set of officials to deal with the same.The policy willlook into state investment for startup infrastructure, incubation centres and similar facilities. Many details are need to be worked out,in a meetingofseveral startup heads and senior entrepreneurs to discuss various issues, "The discussions need to touch upon everything from the kind of incentives they may get to the problems faced by some startups.Sources said the startup heads said getting licences and certificates and the process of renewal were time-consuming and not industry-friendly . "Among things discussed was the fact that several startups operate from houses in residential areas, causing problems for residents. So it was proposed that once a startup crosses 10 to 15 employees, it should move to a commercial area to prevent problems for residents.

Create a startup and be your own boss .Let it be small or big be your own boss .A small seed can become big tree .You have to have passion commitment and good idea good networking skills .A start up need to have a well documented business plan investment strategy and including exit options to angel investors in the start itself aslater problem should noy crop up with founders. You should have good product and it should be in need and it should have better feature than other products. what is not working discontinue it .Scale it as demand grows .Do not ignore Marketing .Growth capital is very important but do not over raise the finance and hire good talent as an when it is required .Do not over pay as it will be very difficult to manage the start up.Time is everything .Be different find right investors and venture capitalists and not vulture capitalists. Raise money intelligently find the right people be sure and flexible .Do not ignore open source technology. Well documented code of conduct is very important for every employee.and directors of the startup.Well defined Information technology is one of the biggest mass employers. Be different startup .Find unsolved problems of customers and solve it, everybody has problems. Many have many problems .Few problems are universal. Few problems are local few are national and few are international .Find unsolved problems. Companies succeed because they solve and understand the unsolved problem and come up with solutions that are very different from what others do. Put yourself in the customer's position; perhaps you would have experienced a pain point yourself. You may not fully understand the difficulty unless you experience it yourself .Develop deep customer insights. Secret of your success is in Passion, determination, vision, agility, team play, fund-raising skills.What exactly defines the DNA of a booming startup? What do some of the biggest names in the investment community look for in startups and entrepreneurs Clarity of vision Domain expertise? What key factors do successful entrepreneurs attribute to their triumph? Need to be understood diligently. IT major Infosys has reportedly increased the salary of its top executives but the base scale for entry-level software engineers has not changed for more than five years.The company started its higher salaries' package to newly-appointed CEO Vishal Sikka who will get Rs 30 crore ($5.08 mn) annual pay package when compared to $23,000 (Rs 14 lakh) taken by his predecessor S D Shibulal.Infosys pays around Rs 23-27,000 for entry-level software engineers with BE and Rs 12-15,000 for entry-level BSc freshers, according to sources. According to experts, starting salaries offered by other IT companies are in the same range. Information technology is one of the most important mass employer in the country today providing significant valueaddition and employment creation.