Saturday, May 30, 2009

TePP innovator gets investment from Mumbai Angels

TePP actively encourages innovators to seek investment from Angel investors. Innovator Kranti, recently finalised agreement with Mumbai Angels. See his advise `How to create interest and negotiate with angel investors'.

This is the story of Dhama Apparel Innovations (DAI), a start up funded by TePP phase I and II. DAI has developed apparel and accessories that act as personal air conditioning systems. We have a developed a, heating/cooling jacket, helmet and neck scarf. If you are interested in finding out more information, kindly visit,

When the company was started, the main promoter of the company was Kranthi Kiran Vistakula. My main vision was to build a team and raise finances for the technology he had developed. Spearheading, with in a year I expanded his company strength to four personnel and have made presentations to many angles and VC firms. We made presentations to TATA Industries, Mumbai Angels, Indian Angel Network, Reliance Technology ventures and many more investors. I feel that the key with these investors is to generate interest but showing the advantages of the technology and demonstrating advanced stage of product or technology development. Investors mostly care about the technology and risks associated with it and are less worried about the market figures at the initial stages. This does not meet that the market part should be left out, a through market analysis have to be prepared along with a strategy to enter market. Once significant interest has been generated with the investor, they get into the details and at this point most value is given to the business model and how do you want to grow the company and what will be the exit for the company.

The most critical stage of the negotiation with the investors is the valuation of the company and the terms in the term sheet. It is to the advantage of the company in valuation to show or generate as much customer feedback or customer interactions. Showing that you are very close to the market can generate higher valuation and you have taken all steps to minimize the risk. After this is the background check, reference check, due diligence and legal due diligence.

In summary, the key to getting funded by investors is to generate a significant interest in the technology and keeping things as transparent as possible by identifying the risk and showing a risk mitigation strategy. The investors are not only investing in the company, they will also promote the company so it is to our advantage to keep things as transparent as possible to build a long lasting relation.

Friday, May 29, 2009

Technologies from NEIST

RRl, Jorhat , now renamed as North-East Institute of Science & Technology has been known outside North Esat for its VSK Mini plant with 39 plants. In states of North East, they have developed and transferred technologies for several aromatic plants, important is Citronella cultivated over 3400 hecters producing 360 tonnnes of oil every year. The economic crops developed at the lab (to some extent )changed the environmentally damaging practice of shifting cultivation-Jhum.See for list of technologies available at

Saturday, May 23, 2009

Venture Center Library, Pune

Innovators and entrepreneurs of Pune can now access large volume of resources at Venture Center Library. Address: 100, NCL Innovation Park, Dr. Homi Bhabha Road, Pune - 411008, +91-20-2590-2984, Fax: +91-20-2589-3104, Email:, Hours: Monday - Saturday, 10am - 5pm (except public holidays)

Tuesday, May 12, 2009

Hair Growth inhibitor

Romataque is a hair growth inhibitor developed by Ms Mrinmayi Bhusan. The product is launched in market by GrasRoot Nutrition. The innovator is supported under TePP. A seminar on the product is scheduled on 15th May at BSES Municiapl General Hospital, Mumbai. Contact person:

Bhushan Vishwanath

Mindfarm Novatech P Ltd
'Vishwa-Pushpa', 992/93/14, Rajendra Nagar,
Pune 411030 MAH India
Tel : +91.20.24537601 Fax : +91.20.24537601 Cell :+91.9373301418
Mail : Contact@Mindfarm.Org Web :

Friday, May 01, 2009

Meeting innovators of J&K

Meeting with innovators is scheduled on 16th May at Gandhi Bhavan, Kashmir University.
Contact person:
Prof. G. M. Bhat,
Director USIC,
The University of Kashmir,
Hazratbal, Srinagar-190006,
(M): 09419404789, 09797133183
E mail ID:

Preliminary screening of proposals will also be carried on the same day for funding under TePP.

North East Innovators meeting on 5th May

Meeting of innovators from North East is scheduled on 5th May at Dimapur
Contact person:
Prof. K. Kannan
Vice Chancellor
Nagaland University
Kohima – 797 001, Nagaland
Tel: 91-370-2290488 (O), 91-370-2242701 (R), Fax: 91-370-2290349 (O)
91-370-2290246 (O)