Jigar Shah: Top 3 Tips for Getting a VC’s attention
Future360 spoke with Jigar Shah, renowned cleantech entrepreneur and partner at Inerjys, to get his Top 3 Tips for Getting a VC’s attention. They are 1)Understand the value of a dollar, 2)Work on the revenue generation part of your business plan and 3)In cleantech, have the humility to work with all stakeholders. Watch the interview.
“Jigar wants to make sure entrepreneurs understand the value of a dollar. People that want to pay themselves a full salary in the beginning are a real no-no. If you’re not willing to sacrifice, then you’re not someone I can fund and neither can VCs.
Second big tip especially in cleantech is having to prove that you can make revenue. Some people say: “my technology is cheaper than the competition so people will buy it.” And that simply doesn’t hold up. You have to prove that there is a customer. Find somebody in the industry who will say: if this product exists then I will buy it. Revenue creation piece of the business plan is always the weakest part of the business plan.
The third thing that people really need to focus on how they interact with the world and their market segment.
What we do in cleantech, whether it be cleanweb, cleantech is really infrastructure. And infrastructure is very hard to get into and requires entrepreneurs to work with many different stakeholders to be successful. Jigar is looking for people who have the humility to understand that.”