In an insightful masterclass organized by the Startup and IT Promotion Cell, Government of Goa at BITS BioCytih Goa, aspiring entrepreneurs had the privilege of learning from one of India’s leading venture capitalists, Mr. Shashank Randev. As the Co-Founder of 100X.VC, India’s first venture capital firm utilizing iSAFE (India Simple Agreement for Future Equity) notes, Mr. Randev’s masterclass offered invaluable insights into perfecting pitch strategies and building successful startups.
The masterclass attracted a diverse audience, including students, startup founders, educators, and Ph.D. scholars, who gathered to gain knowledge from Mr. Randev’s extensive experience in the entrepreneurial world. The session began with participants sharing their unique startup stories, setting the stage for a dynamic exchange of ideas and experiences.
Mr. Randev opened the masterclass with a detailed presentation of his entrepreneurial journey, highlighting the transformative impact of 100X.VC. A key focus of his presentation was the art of pitching, a critical component for any startup seeking investment. He identified common pitching errors and emphasized the importance of delivering a clear, compelling narrative. “Founders often struggle to articulate their ideas effectively, which can hinder their ability to attract investors,” Mr. Randev noted. He advised entrepreneurs to thoroughly understand their market, develop a strong pitch narrative, and avoid overbuilding their products without validating them with real-world feedback.
Mr. Randev also provided strategic advice on financial management and investor relations. He stressed the necessity for founders to have a solid grasp of financial fundamentals and to be cautious when choosing investors.
“Raising capital is challenging, but it is even more detrimental if you secure funds from investors lacking credibility or alignment with your vision,” he warned. He encouraged founders to prioritize financial health, avoid asset-heavy business models, and focus on creating scalable, innovative solutions that appeal to venture capitalists
Mr. Randev highlighted that venture capital not only helps unlock a product’s market potential but also requires a continuous effort to secure ongoing funding. “Execution is crucial for non-tech companies, and the investment journey is a marathon. It’s essential to continuously evolve and maintain the capability to raise funds as you grow,” he emphasized.
The masterclass also included practical elements, such as the Elevator Pitch Template and essential slide components for pitch decks. Mr. Randev emphasized the importance of converting product ideas into compelling business cases and highlighted the role of user segmentation and Contribution Market 2 (CM2) in assessing business profitability.
Participants walked away from the masterclass inspired and equipped with actionable strategies to enhance their pitching techniques and accelerate their startup development. The event showcased Goa’s vibrant startup ecosystem and its potential to become a major force in India’s entrepreneurial landscape.