Wannabe entrepreneur Ranjit Krishnan, who was looking forward to funding for his food based startup, received a setback after his meeting with Venture Capitalists suffered an embarrassing moment.
Apparently, the VC’s questioned him on private equity firm SAIF Partners, but Ranjith mistook it for Bollywood actor Saif Ali Khan’s love life. “I thought they were asking me about Amrita Singh, Rosa Catalano and Kareena Kapoor. All of whom have been partners of Saif Ali. Not that I knew anything about the private equity firm. Maybe I should have done my homework before meeting those guys,” said Ranjith, still red faced with the entire incident.
Ranjith had left his IT job in Bengaluru and jumped on to the entrepreneurial bandwagon with his idea of a food based startup. And if his friends are to believed, he managed to get an audience with the VC’s. But now all his plans to draw funding seem to have gone down the drain.
This particular incident just highlight one of the problem in the startup market and that is of blindly following the herd. An independent research report states that almost 50% of IIM grads quit their job in a year to tread the startup path.
Speaking to Faking News, one VC said, “Most pass-outs believe that getting funding for their stupid ideas is a piece of cake. Not every idea will end up in a Flipkart or Zomato.”
Though it seems like Ranjith might not receive funding anytime sooner. But with the aforementioned meeting going viral on social media, a standup comedy startup might be a better idea.