Friday, February 27, 2009

BWI: UKIBC and UKIBAN Organise Plenary Session for Indian Ventures Seeking Global Footprint

Press release from Business Wire India
Source: UK INDIA Business Council
Friday, February 27, 2009 04:35 PM IST (11:05 AM GMT)
Editors: General: Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
Release no: 19351
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UKIBC and UKIBAN Organise Plenary Session for Indian Ventures Seeking Global Footprint


Mumbai, Maharashtra, India, Friday, February 27, 2009 -- (Business Wire India) -- The UK India Business Council's UK India Business Angel Network (UKIBAN) organised angel investment events in Mumbai last week attended by over 100 individuals comprising angel investors and young entrepreneurs, many of whom were seeking investment to grow their business.

At the event, seven young Indian businesses pitched their business plan to angel investors for investment from the UK. The businesses ranged from IT and clean technologies to publishing. All of the pitches had a UK strategy and were seeking capital to finance their global ambitions. The Angels were impressed and seem keen to take the discussions forward with some of them.

They also discussed the issues and challenges faced by both countries in this area and how best UK angels can support Indian entrepreneurs seeking to globalise their technology and media ventures through the UK.

Sharon Bamford, CEO, UKIBC said, "The United Kingdom with an extensive network and expertise in 'bringing innovation to market' is the ideal destination for Indian businesses seeking a footprint globally. The angel community in the UK is working closely with their counterparts in India to ensure a 'softlanding' for high potential Indian ventures.

Alpesh Patel, Director and Deal Maker, UKIBC said, "Despite the credit crunch, there is an outstanding array of Indian businesses looking to go global. We are sure that the UKIBC and the Dealmaker program will be able to aid them in their global endeavours."

Keeping in mind the current economic scenario, the panel urged Indian businesses seeking angel funding to asses valuation based on market conditions. They also stressed on the importance of execution in a business plan and the need for good housekeeping and compliances.

The panellists included Alpesh Patel, Chairman, UK India Business Angel Network; Dealmaker, UKTI and Principal, Praefenium Group, Bob Taylor, Partner, Envestors; Member British Business Angels Association, D.K. Chaudhuri, CEO, SynergieAvant, Sharon Bamford, CEO, UKIBC, Satya Narayan Bansal, CEO India, Barclays Wealth; Member Indian Angel Network, Ajay Garg, MD, Equirus Capital Pvt. Ltd; Member, Indian Angel Network, Sajith Pai, Deputy General Manager, Times Private Treaties; Vandana Saxena Poria OBE, CEO Get Through Guides

The key messages and advice given to Indian entrepreneurs on various aspects of raising capital using angel networks included:

-- Due diligence:

Angels would normally do this through a two stage process the first part of which is an informal due diligence whereby the entrepreneurs win the trust and confidence of the Angels through their approach and presentation. The more formal part of the due diligence might involve the past record of success/failure, other investors involved, credentials of people involved, etc.

-- Valuation:

All the panellists agreed that valuation was one area of the business plan which involved 'more Art than Science'. However, it was advised that entrepreneurs should consider the market conditions and be as prudent as possible in their valuation. An unnecessarily high valuation might make the proposal less attractive to the Angels despite other merits. On the other hand with a lower valuation, the entrepreneur might end up giving a larger chunk of the business away.

-- Amount of investment:

Though most UK Angels would invest in the range of around £200,000 to £2m they also commented that this is indeed the most difficult amount to raise as normally companies raising capital within this range are still at an early stage and the riskiness of the venture is also quite high. Some of the risks can be mitigated by achieving some sales and acquiring customers before approaching the Angels, thereby establishing a proof of concept. Also it is best to approach the Angels once alternative sources of funding have been explored and availed.

-- Management team:

Management team is a crucial aspect of the proposal as most Angels invest in people rather than the product. It's important to have the right management team and showcase the same to the investors. If there are gaps in the team, the same needs to be recognised by the entrepreneurs and mention the steps planned to address the same.

-- Pitching for investment:

Entrepreneurs pitching for investment were advised to keep their pitches short and simple. For a 10 minute pitch, it was advised that there should be no more than 8 PowerPoint slides. Rather than focussing too much on the product, it was important to keep the audience in mind and talk more about the business model, market potential, execution plans, management team, financials, valuation, funding sought, etc.

About UKIBC

The UK India Business Council (UKIBC) is the lead organisation supporting the British Government in the promotion of bilateral trade, business and investment between the two countries. UKIBC seeks to play an influential role in creating and sustaining an environment in which free-trade and investment flourishes. A key objective in this regard is the highlighting, and dismantling, of bureaucratic and regulatory barriers to entry. Through the facilitation of partnerships, and with the support of an extensive network of influential corporate and individual members, UKIBC provides the resource, knowledge and infrastructure support vital for UK companies to make the most of emerging opportunities in India.

About UKIBAN

UK India Business Angel Network (UKIBAN) was set up in January 2008 by British Prime Minister Gordon Brown to connect Angel and VC networks in India and the UK to increase the number of Indian early stage, high growth, IP rich companies looking to go global through the UK and possibly access Angel and VC funding.

To view the photograph, click the link below:

UKIBC Plenary Session
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Pic1(52).JPG
Photo : (L to R ) - D.K. Chaudhuri, CEO, SynergieAvant, Bob Taylor, Partner, Envestors; Member British Business Angels Association, Sharon Bamford, CEO, UKIBC, Alpesh Patel, Chairman, UK India Business Angel Network; Dealmaker, UKTI, Vandana Saxena Poria OBE, CEO Get Through Guides and Sajith Pai, Deputy General Manager, Times Private Treaties at the UKIBC plenary session


CONTACT DETAILS
Jimmy Mathew, Alaaya Media, +91 (022) 32485456 / +91 9820292545, jimmy@alaaya.com

KEYWORDS
ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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