heavenkisses1985
New member
Hi.
I have an idea for a robotics startup [there's 0 Indian startups in this subdomain of robotics and
I have an idea for a robotics startup [there's 0 Indian startups in this subdomain of robotics and
Have a robotics startup idea, half the skills to execute it, but the MvP would take Rs25L. What to do?
- Thread starter heavenkisses1985
- Start date
-
- Tags
- india resource request startup
ivoryebonykeys
New member
@heavenkisses1985 There are angel investor networks like Inflection Point Ventures who will provide funding at pre-product stage as well. But for that you need to at least have something working. You need to find other people with complementary skills - not just the complex tech skills, but also business skills - and the 3 of you (I would think one more tech with complementary skills and one more who will manage the business end) can then collaborate and build something. You can then approach IIM Bangalore to help you kick off .. And once you have working prototype you can approach angel investor networks.
But at this stage, your is just an idea on paper. Unless you find other founders with complementary skills, you will find it difficult. Maybe you can start from here -- https://www.iimb.ac.in/ns-raghavan-centre-for-entrepreneurial-learning
Try going to IIM B and meet some people there ... Good luck!
Edit -- A free advice; it is best to avoid letting investors know your political leanings whatever they maybe. That will never help ... I make this statement primarily because I can sense your political affiliation based on your username and your signoff.
But at this stage, your is just an idea on paper. Unless you find other founders with complementary skills, you will find it difficult. Maybe you can start from here -- https://www.iimb.ac.in/ns-raghavan-centre-for-entrepreneurial-learning
Try going to IIM B and meet some people there ... Good luck!
Edit -- A free advice; it is best to avoid letting investors know your political leanings whatever they maybe. That will never help ... I make this statement primarily because I can sense your political affiliation based on your username and your signoff.
heavenkisses1985
New member
@ivoryebonykeys Agreed. This is one of many alts, and if I wish to network further on Reddit I will use a different one.
In my personal life, except my family and like 4 close friends no one is aware of my political leanings -- and no one else will be.
Here's the thing: I have been thinking for a long, long time about how to bring the MvP cost down and somehow bootstrap it.
It cannot be lowered.
Really.
I can show design documents, simulations (rigid body dynamics -- working of the robot and even FEA sims), even code -- but not the robot itself. There are input costs that cannot be jugaaded away -- for a bunch of technical reasons that if I revealed would make the subdomain obvious.
The input costs are not as simple as server-renting and code. It's motors (expensive ones), power supplies, microcontroller boards, CNC fabrication, and testing equipment. Not to mention software licenses (in this domain, piracy of software leads to lawsuits -- even in India).
However.... to demonstrate my ability in this domain, I do have a smaller scale project which is nearing completion (smaller scale only in terms of budget and parts quality, NOT in terms of complexity or physical size).
Do you think that (plus business plans etc) would be adequate to at least reach the pitch stage?
In my personal life, except my family and like 4 close friends no one is aware of my political leanings -- and no one else will be.
Here's the thing: I have been thinking for a long, long time about how to bring the MvP cost down and somehow bootstrap it.
It cannot be lowered.
Really.
I can show design documents, simulations (rigid body dynamics -- working of the robot and even FEA sims), even code -- but not the robot itself. There are input costs that cannot be jugaaded away -- for a bunch of technical reasons that if I revealed would make the subdomain obvious.
The input costs are not as simple as server-renting and code. It's motors (expensive ones), power supplies, microcontroller boards, CNC fabrication, and testing equipment. Not to mention software licenses (in this domain, piracy of software leads to lawsuits -- even in India).
However.... to demonstrate my ability in this domain, I do have a smaller scale project which is nearing completion (smaller scale only in terms of budget and parts quality, NOT in terms of complexity or physical size).
Do you think that (plus business plans etc) would be adequate to at least reach the pitch stage?
ivoryebonykeys
New member
@heavenkisses1985 TBH 25 lakhs is not a big sum and I would think you would spending more than that. But besides that I think you need to find the following --> AT least one founder who can bring in the business skills that you probably lack. You have to find people like this startup forums, and other physical startup events ... If you are from a reputed university, you can try and reach out to the Alumni.
Along with a founder, you will also need an advisor -- who is a Professor in a reputed institute and has guided /guiding startups OR an industry practitioner who understands the market and the particular problem your product will solve.
Also, everyone wants to know how much of your own money is in the startup i.e. how much skin do you have in the game! You need at least one such person who will bring in the investment.
But without seeing some prototype (no matter how rudimentary) it would not be easy. I recommend going to NS Raghavan centre at IIM-B. You can get more guidance there than what you can find on Reddit.
Also, its not right to say there are NO robotics startups -- the most famous Quoran Balaji Viswanathan has started Invento Robotics and their products have been shown at various events ...
Good luck to you!
PS:- If you can reach out to the Zoho founder somehow and he finds merit in your idea, then of course things will be much smoother for you!
Along with a founder, you will also need an advisor -- who is a Professor in a reputed institute and has guided /guiding startups OR an industry practitioner who understands the market and the particular problem your product will solve.
Also, everyone wants to know how much of your own money is in the startup i.e. how much skin do you have in the game! You need at least one such person who will bring in the investment.
But without seeing some prototype (no matter how rudimentary) it would not be easy. I recommend going to NS Raghavan centre at IIM-B. You can get more guidance there than what you can find on Reddit.
Also, its not right to say there are NO robotics startups -- the most famous Quoran Balaji Viswanathan has started Invento Robotics and their products have been shown at various events ...
Good luck to you!
PS:- If you can reach out to the Zoho founder somehow and he finds merit in your idea, then of course things will be much smoother for you!
heavenkisses1985
New member
@ivoryebonykeys I agree that there are Indian startups in the robotics and autonomous mobile systems space -- GreyOrange, Garuda etc.
I am referring to the very specific niche I wish to occupy
But I get your point. I ... can somehow manage an extremely rudimentary prototype.
And no, the 25 lakhs has quite a bit of breathing room. Push comes to shove, if I have a technical partner from the mechanical engineering field (bearings, belts, material properties, elastic moduli, shearing and tensile strength, impacts, resonance and thermal analysis, CAD+FEA) and a business advisor, and all three of us are non-salaried at least for the first few years (I was planning to keep myself non-salaried ad infinitum anyway), then I can bring the monetary requirement down to 12 lakhs (this is BoM including components and fabrication, plus quite a bit of breathing room in order to facilitate destructive failure testing).
I'm trying to leverage my college's network. The college is the one that is opposite Infy Gate 10.
I am referring to the very specific niche I wish to occupy
But I get your point. I ... can somehow manage an extremely rudimentary prototype.
And no, the 25 lakhs has quite a bit of breathing room. Push comes to shove, if I have a technical partner from the mechanical engineering field (bearings, belts, material properties, elastic moduli, shearing and tensile strength, impacts, resonance and thermal analysis, CAD+FEA) and a business advisor, and all three of us are non-salaried at least for the first few years (I was planning to keep myself non-salaried ad infinitum anyway), then I can bring the monetary requirement down to 12 lakhs (this is BoM including components and fabrication, plus quite a bit of breathing room in order to facilitate destructive failure testing).
I'm trying to leverage my college's network. The college is the one that is opposite Infy Gate 10.