Foresight

Student Welfare Group

India Quotient ADVISERS LLP

     Ayush Gautam11078113_839736926062003_3576603892778511416_o

INTRODUCTION

Ayush Gautam, co-founder at Beatrix Technologies, is a 3rd-year undergraduate student at IIT Kharagpur. Through Beatrix Technologies, he gained some notable glory by winning Empresario, the annual business model competition organized by Entrepreneurship Cell, IIT Kharagpur last year, was among the finalists of Baylor Venture Challenge, Baylor University and got selected at Alpha class of startups in Surge Web Summit (last year) and various other competitions. In Spite of such accolades, he had to give up on the startup realizing that the idea would not stand out in the market.

He has gone a step further by pivoting with his new B2B startup Beatrix Technologies, which has already been registered and is functional in Delhi and serves for various businesses.

WHY DID HE CHOOSE TO INTERN IN A VENTURE CAPITAL FIRM AND INDIA QUOTIENT IN PARTICULAR?

Ayush, being one of the few students who did an internship in a VC firm in the 2nd year, opted for the same to get an idea about the startup industry and a gist of the market. He applied for 3-4 firms and finally settled for India Quotient, a Venture Capital firm which invests in early stage startups. It is a venture firm which focuses on early stage startups, investing in startups for 5 years now. He was curious as to what do investors look for in a startup, which in turn could prove instrumental in the establishment of his own startup, the reason why he decided to opt for a VC firm in the first place.

WHAT SELECTION PROCEDURE DID HE HAVE TO GO THROUGH?

He had to go through a telephonic interview before he was assured of spending his summers 2016 at the Mumbai office of India Quotient. Questions asked in the interview were in-depth related to startups, and one needed to have a run-of-the-mill knowledge about the trending startups and the flourishing genres of startups in general, along with the reason of their expansion. For instance, one needed to have a requisite comprehension of the reason for the booming of sectors such as healthcare and edutech in recent times.

HOW WAS THE COMPANY CULTURE AND WHAT WAS THE TYPE OF WORK ALLOTTED TO HIM?

He was full of praises for Indian Quotient when inquired about the work culture at the firm. A handful of people, handling funds of millions, made it possible for him to sit next to none but the partners of the company while at work. He describes the healthy discussion between him and the experienced populace of the firm or even his fellow interns to be the most productive of times during his entire internship period. He was also involved in conduction of corporate events which offered him a chance to interact with people of high social prestige, may it be white collar workers from VC firms like Sequoia Capital, other angel investors. Adding to the bargain was the vicinity of the offices of numerous startups, leading to the opportunity of interacting with them on a regular basis.

He classified the overall work of the firm into 4 major fragments. Analysis of deals that comprises of analysing market opportunity, competition, sector growth, risk, feasibility of the idea etc. counts as one. Another is sector analysis, which includes recognizing the trends and the scope of expansion of markets across different sectors. Thesis building and raising money are domains handled mostly by the partners of the company. Every firm has a board which involves the major investors and the CEO, responsible for making all the important decisions regarding the whys and hows of the company. Portfolio optimization is one such area, taken care of by the board, in which the VC firm mentors startups in proper functioning and provides an aid in marketing.

He altogether paints a word picture of the experience as a rich one, terming it a ‘complete package’.

HOW MUCH DEDICATION DOES ONE NEED TO HAVE TO KICK-START AN OWN STARTUP?

The urge to create a value in the industry, a field or a direction which one feels no one else can bring in is what it takes to set up one’s own company. Knowledge, besides dedication, is imperative for oiling the wheels of the progress of a startup. In addition to one’s own self, the team too, plays a very crucial role in the success of a startup, and one and all members of the team should be at the same magnitude in terms of self-motivation, said Ayush. He considers himself blessed for having gotten a quality team for his current endeavor.

A REALITY CHECK AND PRICES:

Ayush also added that being in KGP does not really get you a hands on experience on VCs or on startup markets by and large, and an altogether different experience is needed. He also stated that while IIT Bombay and IIT Delhi may have an extra edge owing to the vicinity and abundance of opportunities, KGP can easily surpass both if actuated towards entrepreneurship and he personally wants that KGP should produce more number of startups than all other IITs combined.

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