Go global, think global is UKTI dealmaker, Alpesh Patel's mantra for young startups
This week YourStory is In Conversation with Alpesh Patel, a senior Dealmaker for UK Trade & Investment (UKTI). Alpesh tells us about what he looks for when funding a startup among other things. He brings a keen understanding to the world of startups and entrepreneurs and talks to Your Story about his mantra for young startups to grow and evolve, what startups should avoid doing and how the Indian startup ecosystem compares with its global counterpart.
According to Alpesh the UK is a booming market for young startups looking to scale. According to him anyone looking to invest in startups will necessarily look at three things: entrepreneurs who are innovative and have new compelling ideas, entrepreneurs with great intellectual property and those who have the ability to become unicorns.
Alpesh says that India has become a nation of entrepreneurs and Indian startups are now thinking global. Therefore he advises young startups to go global and think global.
His advise to young entrepreneurs is to go with the right person, be diligent about market research and to use government resources. He cites the examples of big business magnates going on trips abroad with political delegations and goes onto explain how these trips lead to new business relations and associations being forged. These are a few things that entrepreneurs need to imbibe and learn from if they hope to scale and grow.
Traction is proof of concept. If your idea isn’t saleable then you simply won’t have the numbers. And that’s what leads to a lot of startups fumbling and gradually dying out.
Listen in for more pearls of wisdom from Alpesh Patel.
Cameraperson: Rukmangada Raja
Video Editor: Anjali V