3 Tips for Startups with a limited financial resource: Deepu Nair with Apoorv Shankar

If you intend to start something of your own in the future, then do not miss this video. 😊
Had a fantastic conversation with Apoorv Shankar on
3 things to keep in mind for Startups in the consumer hardware space
with limited financial resources. [ which is limited 99% of the time] 🤐
1] Understand the design & innovation methodologies. 😉
Few to name:
1.1 ] 4D: This methodology divides the design thinking process into four stages, namely, Discover, Design, Develop, and Deploy.
1.2] DOUBLE DIAMOND: Similar to the 4D approach, the double diamond methodology defines its stages as Discover, Define, Develop, and Deliver.
1.3] 5D: This methodology of design thinking is a combination of 4D and Double Diamond.
There are many more which can be researched.
2. Government grants: 🤑
You may not be aware, but there are quite a few grants by the government today where you can get seed funding of 50 lakhs.
Here is short list:
2.1] Startup India Seed Fund Scheme (SISFS):
As per the guidelines of this policy, a business can receive up to ₹20 lakh rupees for its research and development measures.
2.2] Startup India Initiative:
The scheme has so far recognized around 120K businesses to be eligible for the benefits. Upto 50 lakh of grant would be provided.
2.3] ASPIRE:
An acronym for A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship, (ASPIRE) is an initiative by the government of India aiming to help entrepreneurs become large-scale employers.
2.4] Venture Capital Assistance Scheme (VCA):
The VCA was launched by government bodies to ensure a startup can secure substantial working capital without falling into a debt trap.
Even state government provide grants: sharing one here:
2.5] Startup Karnataka:
Elevate from Karnataka government will fund around 100 startups with a 20 crore budget. The government will provide a one-time grant of up to Rs 50 lakhs.
Other major crowdfunding platforms are FundRazr and Kickstarter.
3. Lastly, you need a rightful vendor:
ZETWERK, Bizongo, Bloom Procurement Services are a few to be named.
Hope this helps! Let me know your thoughts.
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