Avibrant country filled with innovative students ready to explore and amaze the world with their ideas, India has been home to many successful start-up ventures. However owing to their recent establishment, most of the start-ups either vanish from the market or get engulfed by larger corporations. Although the market is crowded with innumerable consultants to help the MNCs and mid-sized companies in achieving their objectives, the count of consultancy firms to guide the start-up ventures is almost negligible. The dearth of guide and mentor while trying to launch a tech company propelled Manikandan Chidambaram to come with the idea of Laabh Technology Ventures to nurture the entrepreneurs. Grabbing the non-existence of startup consultancy firms as an opportunity of evolution, Laabh Technology Ventures emerged as an innovative solution to the segment by guiding the start-ups and help them grow.
In the initial days of the establishment of the firm, when many ventures used to think hiring or seeking the assistance of an external consultant is needless, Laabh Technology Ventures surfaced as a leading management consulting and investment advisory. “Consultation is intangible and not a normal service; its returns cannot be emanated instantly. It should be treated as an investment for improvement of business in the long term. We had to convince, demonstrate and offer a freemium model for quite some
time to bring in the confidence. Those who believe in value-based growth and have experienced a mentor’s role will be able to vouch for it better. We work with an entrepreneur, a team, a garage or biz centre startup, SMB/SME, Angel funded venture, VC funded to an aspiring to be listed venture. We wanted to handhold the founder in every stage as possible and to make him successful states Manikandan Chidambaram, CEO, Laabh Technology Ventures.
As per Manikandan Chidambaram, the various stages through which the consultancy firm assists the start-ups are stated as Pre-seed, Seed stage, Angel stage, Venture capital and Private equity. “In the Pre-seed stage, we read the concept in their mind as well as the need to execute it commercially and we bring clarity in the thought process. In the seed stage, the entrepreneur and his team have demonstrated their seriousness by quitting their jobs and taking a leap by testing their concept in the market in real-time. The next stage is the Angel stage as the entrepreneurs aspire to grow faster and claim their region by external infusion of funds viz. the angels. In the next stage, the venture capital does due diligence and if found convincing, it will deploy an agreed investment for a negotiated percentage in stake. Post VC stage companies are generally grown ups and would either prefer a PE or an IPO to get the listing route.” Offering consultancy solutions such as product co-development, mentorship, go-to-market support, investment advisory, and business consulting Laabh Technology Ventures has been able to mark its dominance in the market.
Benefitted by the several thrusting factors such as newer government norms, the success of start-ups in the yesteryears, and the recognition of an entrepreneur by the society Laabh Technology Ventures is growing exponentially since its inception. “At Laabh Ventures, we want to be everything to the entrepreneurs and assist them in every possible way. Apart from nurturing the start-ups, we want to handhold rural entrepreneurs and willing to boost the women entrepreneurs. We are obsessive about making India a Product Nation. We would like to venture into areas that are in tandem to that thought. We want to take pride in contributing as much as possible to mint as many highly capable entrepreneurs as possible to the Indian economy who in turn will put their products in the global map", signs off Manikandan.