August 10, 2012

Saying No to Expensive Startup Awards

The inimitable Alok 'Rodinhood' Kejriwal has an interesting account of an invitation from an international publication to nominate his company for an "hot startup" award.

- The call was pleasant and kinda, "How is the weather" type of talk (read - "Entrepreneurs are this and that", etc) - I participated and humored the caller.

- In the end I was told, "We like to see the entrepreneurs. We want them to come to Hong Kong and present in front of a jury. On that day in September, something will happen at 4pm, then something at 5pm and winners will be announced at 8pm. So please come."

I said NO.

This is the point I made:

- Entrepreneurs don't have time to pitch for awards and mentions. They have time to do business.

- As an award, you have done lots of research on all the companies concerned.

This is the age of the INTERNET!

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. Click Here to learn about Venture Intelligence products that help entrepreneurs reach out effectively to the investing community.