"Go Back to the Drawing Board, Build Real Start-Ups"
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With a galore of start-ups around him at SURGE 2016, Subrata Mitra of Accel Partners stressed on the need to build real start-ups.
What investors are looking for
"I think this whole branding start-up and funding in one brush is not the right way to look at it. What we do is when a startup comes before us we look at the validity of the idea and how big can it get and is the team good enough to execute it and based on that we make funding calls" said Subrata.
Receiving funding presently doesn't mean an insured future
"I think for the right companies funding will continue to happen but if you are only in the business of going from Series A, to series B, to Series C without having the accelerated value proposition those companies might get into more trouble. Therefore the my two cents to entrepreneurs would be go back to the drawing board, build real start-ups which has the potential for real revenues, show us how it is going to be built out, what are the differentiators when you guys put together. Those very basic fundamentals things if you put together, I think good companies will still get funding."
Adapting for the market
"Entrepreneurs are very sophisticated people, they have done their homework and when the markets were going crazy they were actually taking advantage of it. So when the markets are not so crazy they have to learn how to live with it"