Business World - Marketing -
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Published on: 11/15/1999
Last Visited: 7/13/2001
Others include Suresh Rajpal , the former CEO of Hewlett-Packard India , and now the head of eCapital -- a software development company ; Harish Mehta , CEO of Onward Novell ; Mike Shah , former CEO , Digital Equipment ; Arun Kumar , CEO , Hughes Software ; Pravin Gandhi , former director , Digital Equipment ; Gokul Tandon , former vice-president , HCL ; Rashesh Shah and Venkat Ramamswamy , both ex-ICICI , and now partners in Edelweiss Capital.Again , Abhay Havaldar , a partner in Draper , a venture capital fund , is starting his own fund.It will invest in Internet companies across the globe , says Havaldar.Though he doesn't say it himself , but market sources believe that the fund size will be around $100 million once fund-raising is over.Havaldar , Bhargava and the likes will be conduits for more than $200 million flowing into the country over the next two years.That number could go up though.According to industry sources , others who are planning funds to do early stage investments in India are TDA Capital Partners' $30-million fund , Pacific Cyberworks' $50-million fund , and IFC's $40-million fund.Almost $500 million could come in to the country by 2001 if the opportunities are good enough , says Bhargava.There is consensus among most new VCs that by 2001 , some of the leading Internet companies , say rediff.com , will go public.That will give the required benchmarks for pricing of exit deals.
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There is no better way to convince an entrepreneur than to say that you believe in his idea , says Shah.The idea is critical.The Net is a great equaliser.You can be anywhere in the world and come up with a great business idea.The flip side : this also means that your business model has to be global in nature.And because of our exposure to business elsewhere we can just help clear their perspective , says Kondur.Consider the contest2win example.
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Shah goes a step further and says , It is not about original ideas.Almost all the ideas would probably have been tried out in the US.Some may work here , but if you have an idea which nobody has tried , it may not even be such an good idea..The movement towards go od execution has started.eVentures is quite clear that if they don't find good ideas in the market place they are going to come up with their own.We will have qualified people with extremely good industry experience who want to start something on their own come in to our office look at three business plan developed by us , and choose one they like.They they can go work on it , says Bhargava.
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