In Conversation with… Chitrak Kumar, Co- Founder, The VC Stories.
Tell us something about your professional background?
I am currently working with Crisil as a research analyst in their CIB vertical. However, when I was an intern at the SIDBI venture capital fund, I got exposed to this fascinating startup and VC community which lured my attention and due to my desire to do something into the startup
ecosystem, I have started my venture called The VC Stories while doing a full-time job. I know it is very hard to manage both things simultaneously, but if you want to do something big in your life you have to grill your 20s so that you can chill in your 30s and beyond.
Tell us something about your venture?
Our venture is built to foster entrepreneurship and bring transparency to the entire startup ecosystem. We wish to build a platform where all the segments involved in entrepreneurship (the investors, the founders, aspiring founders, and supportive personnel) can initiate and
indulge in candid conversations. The main focus is to encourage pupils in tier 2 and 3 to explore entrepreneurship. The mission of THE VC STORIES is to bridge the gap in knowledge of these pupils (or any aspiring entrepreneur) and enable well-established professionals in the startup ecosystem to share the knowledge they gained from their
How do you think the industry niche in which your business operates has evolved over time?
The niche that we have identified can be broadly termed as the startup ecosystem(segregating into entrepreneurs, aspiring entrepreneurs, investors, supportive personnel).
The Indian startup ecosystem has been evolving tremendously over the past few years with unicorns being added to the list everywhere. This has also led to a lightning desire among the youth to take it up but due to lack of information and a moderate persuasion, this desire still
lives as a dream to many.
In what direction do you see the industry moving in the future?
The industry is still in the growth stage, nowhere near maturity. Despite Covid, the startup ecosystem is still flourishing We believe that there are a lot of people out there who wish to be a part of this ecosystem and by their number of startups being promoted by investors at the ideation stage the ecosystem is going to observe a huge flow of founders who
have established a venture and are looking to grow as well as people who are aspiring to take the leap of faith to try and begin their venture. Additionally, the investing patterns have also seen a shift from only VC funds to increased numbers to angel investors and relatively
new trends like crowdfunding.
How do you view the competition in the industry that you operate in?
The type of offering we are planning to bring is one of akind but may have competition from certain evolving startups in the space. We believe there are no big players in the market yet who have tapped into this type of issue. The compliances however will be stringent therefore,
we are taking our time to evaluate the entire market and adhere to the norms before we come on the ground.
What are the immediate challenges that your business faces during Covid-19? How do plan to overcome it?
We have started in COVID so it didn’t impact us in any way.
How do you build an effective team to work along with you?
To build an effective team, don’t be in a rush to build your core team or get a co-founder. Evaluate the potential person in your contact based on several parameters, which I use, like skills, ideas, and values. The value should be the same otherwise there will be more
conflicts among your team and the other two must be different so that your team members can complement each other.
The time I have wasted to start my venture, I wish I could go back and start this during my college days or just after graduating. As at that time I can devote more time to my venture as I am currently devoting. But don't think too much about it, whenever you are starting, is
the best time for starting that thing.
What is your message for any aspiring entrepreneurs?
Don’t fall into the rat race of doing a high paying job, always remember and I always believe that “rather than devoting 8-9hrs a day to a job, if you spend this time in doing any of the small business with the great strategy and desire to do something big, trust me anybody can
do big in his/her life and earn much more than that”.