Topic: Startup Founders Guide to Raising Investment and Psychedelic Contracts
IIT Madras is one of the most beautiful campuses we have seen so far – it was carved out of a natural forest and some areas inside it are still home to protected animals like the black buck which roam around freely. It is a mini-city in itself, with cafes, juice parlours and eateries. The eateries are a scene of activity – even at midnight, you are likely to find hundreds of students engaged in animated discussion.
IIT-Madras is filled with stories of students achieving interesting entrepreneurial feats – most of these have made life for other students more comfortable. We were particularly impressed by one where a student made GPS device for tracking where the IIT bus was located within the campus at any point of time. Another person we came across was setting up a state-of-the-art website for IIT students wishing to rent out motorbikes for short outstation trips.
We took two sessions here – the first one on Negotiating with VCs, which had participation from students of the B.Tech course, entrepreneurs and telecom engineers. The energy levels of IIT students were very high – they were hooked and refused to take any breaks at the workshop! A mock term sheet negotiation exercise was included - the participants almost fought tooth and nail to get an investment deal that would best fit their interests. Led by the enthusiastic feedback to this session, we took a second workshop titled ‘psychedelic contracts’ – which demolished some well-guarded myths pertaining to everyday contracts.
Here's what people said at the end of the workshop:
iPleaders was quite good to get a first-hand knowledge of about how things go, getting investments from, or considering investments from VCs and Angels. I guess I would like to do some more if it is on offer. Thank you.
I found it really beneficial because I aspire to be an entrepreneur and this taught me the basics of facing any VC with courage and understanding that I can negotiate my own terms. Thanks.
Probably in India you won't even find such a course. In a very short span of time I got to understand a lot of crucial and strategic concepts.