UC Berkeley to mentor startups through a smart city accelerator programme to build scaleable business models
Startups fail not because of a lack of funds but due to lack of right attitude and mindset. "As long as you can get customers to validate your product, entrepreneurs will not have to go looking for investors," said Mark Searle, managing director, UC Berkeley Innovation Acceleration Group. He was talking at the strategic partnership event in Delhi to establish the smart city accelerator (which is being kickstarted in Hyderabad), and innovation centers in India.
He feels that a good presentation (of an idea) may not ensure startup success. "Through our accelerator programme at the University of California, Berkeley (UC Berkeley), we want startups have face-to-face converstations with around 100 customers to get a 360 degree understanding of their needs. It is imnportant to get people to buy your product and not so much to invest in it. Most startups fail because the entrepreneurs are too much in love with their original ideas and not willing to change. They lose sight of the simpler solutions and focus too much on technology."