Interview with Lalit of Mobisy

Posted on March 27, 2008. Filed under: Indian Startups, Interview | Tags: , |

In this post, lets meet Lalit Bhise, co-founder of Mobisy. For readers new to Mobisy, they are a bangalore based startup developing a product called MobiTop, a mobile application development platform. More on MobiTop here. Below is the email conversation that I had with Lalit.

In a country known for services, how easy/difficult is it to convince VCs even friends/employees that you are developing a framework to build mobile applications?

Country known for services? not really, from the time I started working full time for our start-up , I never faced this services mental block, . May be by beginning of 2007(when we started) India had already left this “services” tag a little behind .

Convincing a VC is tough whether services or not. This is a fact anywhere on the face of the planet.
These guys do high risk investments and hence I am actually thankful that they do not fund start-ups that easily.
In my humble opinion, the difference with Indian VCs is that they get such good valuations, deals and returns in growth level companies that entry level or seed level start-ups may not be that attractive business for them. I hope all the blue eyed entrepreneurs realize this quickly and focus on building a solid business rather than spending energy in trying to convince VCs from day one.

Friends and employees was the easier bit at least for us. We could attract lot of talent from the beginning and we could easily convince them with just a demo of Mobitop. I guess the cool factor attached with the unique technology we are developing in an area like Mobile Internet helps a lot.

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