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From Jeff Bezos to Tencent, entrepreneur Nipun Mehra has a wealth of traders backing his Indonesian e-commerce start-up, Ula.
However as a former start-up investor himself, he had a head begin when it got here to pitching for funding.
Having been an early backer of Southeast Asian ride-hailing firm Gojek and different regional start-ups throughout his time at enterprise capital agency Sequoia India, Mehra mentioned there have been three key questions he all the time requested every firm.
Listed below are the questions.
Imaginative and prescient
“One, what’s the imaginative and prescient?” Mehra informed CNBC Make It.
Traders are eager to know what a founder needs their firm to be, and whether or not their goal market is large enough to assist that imaginative and prescient, he mentioned. So, would-be founders needs to be ready to share their huge concept — and the market information to again it up.
In Mehra’s case, Ula was creating an e-commerce service for Indonesia’s thousands and thousands of neighborhood road kiosks, referred to as warungs, that are used day by day by native residents. In a rustic with a inhabitants of over 270 million folks — and subsequently, potential shoppers — that was an enormous addressable market.
Staff
“Second, is the group that’s going to drive this adequate?” mentioned Mehra.
“Adequate” means a founder is each “hungry sufficient and sensible sufficient” to realize their imaginative and prescient, he defined.
Nevertheless it additionally implies that they need to take heed to their weaknesses as nicely, and be capable of herald others to steadiness these out.
For example, whereas Mehra had 15 years of expertise working in e-commerce and investments, he was much less acquainted with the Indonesian market, and known as on co-founders to complement that data.
Observe file
“Third, what’s the monitor file?” mentioned Mehra. “If it’s important to [reach] there, the monitor file has to have the ability to again up the truth that the imaginative and prescient can sometime be realized.”
That includes demonstrating the corporate’s successes to this point, via a mix of buyer suggestions, information evaluation and monetary studies, he mentioned.
Fortunately and fortunately we ended up on the best facet of that dialog.
Nipun Mehra
co-founder and CEO, Ula
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